An announcement from Lucid Group ( (LCID) ) is now available.
Lucid Group, Inc. has launched a public offering of over 262 million shares of its common stock, with BofA Securities as the sole underwriter, and plans a concurrent private placement for its majority stockholder, Ayar Third Investment Company. The proceeds aim to support general corporate purposes, including capital expenditures and working capital. Ayar intends to retain its 58.8% ownership by purchasing additional shares if the underwriter exercises its option. This strategic financial move is designed to bolster Lucid’s market position and operational flexibility.
For an in-depth examination of LCID stock, go to TipRanks’ Stock Analysis page.