LCID · Lucid Group, Inc.

Lucid Group, Inc. executed a definitive underwriting agreement with BofA Securities, Inc. on April 14, 2026, formalizing a significant capital raise through the public offering of 36,057,692 shares of its Class A common stock. Priced at $8.32 per share to the public with BofA purchasing at $8.112 per share, the transaction is expected to deliver approximately $291.5 million in net proceeds to the company after expenses. This offering represents a material financing event, providing substantial liquidity to support ongoing operations and growth initiatives in the competitive electric vehicle sector. The shares will be sold across multiple channels including the Nasdaq Global Market, over-the-counter markets, and negotiated transactions, leveraging Lucid's existing shelf registration on Form S-3ASR. The agreement includes standard indemnification provisions protecting the underwriter from certain liabilities under the Securities Act of 1933, with contribution obligations if indemnification is unavailable. Supporting documents include a legal opinion from Skadden, Arps, Slate, Meagher & Flom LLP confirming the validity of the shares, their consent as Exhibit 23.1, and a press release detailing the pricing and concurrent investments from Uber and Ayar Third Investment Company affiliates, which together elevate the total capital raise to approximately $1.05 billion in gross proceeds. This structured financing underscores investor confidence and positions Lucid to advance its technology and production capabilities.