Lucid Group, Inc. Reports Completion of $975 Million Convertible Senior Notes Offering
Summary
Lucid Group, Inc. completed a private offering of $975,000,000 aggregate principal amount of 7.00% Convertible Senior Notes due 2031 on November 17, 2025, following initial pricing on November 12, 2025 (via Ex. 99.1 press release). The net proceeds from the offering were approximately $962.4 million. Lucid used approximately $752.2 million of these proceeds to repurchase $755.7 million aggregate principal amount of its 1.25% Convertible Senior Notes due 2026, with the remainder allocated for general corporate purposes. A maximum of 57,386,647 shares of common stock may be issued upon conversion of the new notes.
Why It Matters
This offering significantly raises capital and refinances existing debt, extending maturity to 2031 and increasing the interest rate to 7.00%. The repurchase of the 2026 notes reduces near-term debt obligations, while the potential conversion of the new notes introduces future equity dilution risk.
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Key Quote
“) for approximately $752.2 million. Lucid intends to use the remaining net proceeds for general corporate purposes.”
— From Item 1.01
Filing Details
Reported Items
Additional Information
- CIK Number
- 0001811210
- Filing Date
- Monday, November 17, 2025
- Filing Time
- 12:00 AM UTC
- Form Type
- 8-K
- Materiality Level
- high
- Sentiment
- positive