Lucid Group, Inc. Reports Proposed Convertible Senior Notes Offering
Summary
On November 11, 2025, Lucid Group, Inc. announced a private offering of $875,000,000 aggregate principal amount of Convertible Senior Notes due 2031, subject to market conditions (via Ex. 99.1). The company also expects to grant initial purchasers an option to buy up to an additional $100,000,000 in notes. Concurrently, Lucid intends to repurchase a portion of its existing 1.25% Convertible Senior Notes due 2026. The Public Investment Fund of Saudi Arabia is providing a prepaid forward.
Why It Matters
This offering of $875,000,000 in new convertible notes, with an option for an additional $100,000,000, and the concurrent repurchase of existing 2026 notes, significantly impacts Lucid's capital structure and debt profile. The ongoing support from PIF, providing a prepaid forward, is also a material signal for investors.
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Key Quote
“") issued a press release announcing the commencement of a private offering, subject to market and other conditions, of $875,000,000 aggregate principal amount of its Convertible Senior Notes due 2031 (the ".”
— From Item 8.01
Filing Details
Reported Items
Additional Information
- CIK Number
- 0001811210
- Filing Date
- Wednesday, November 12, 2025
- Filing Time
- 12:00 AM UTC
- Form Type
- 8-K
- Materiality Level
- high
- Sentiment
- positive