Lucid Group announces offering of 262.45M shares of common stock

Lucid Group announced the commencement of a public offering of 262.45M shares of its common stock. Lucid intends to use the net proceeds from the public offering, as well as from the private placement by its majority stockholder, for general corporate purposes, which may include, among other things, capital expenditures and working capital. BofA Securities is acting as the sole underwriter for the public offering.