Lucid $600 million at-the-market offering and $915 million additional investment
The common stock is listed on Nasdaq
Davis Polk advised Lucid Group, Inc. in connection with an SEC-registered at-the-market offering of common stock up to an aggregate amount of $600 million and an additional private investment of up to $915 million by its majority stockholder, the Public Investment Fund. The PIF has agreed to buy shares of common stock from Lucid at a price per share equal to the volume-weighted average price to the public of the shares that Lucid actually sells in the at-the-market program.
Lucid’s mission is to inspire the adoption of sustainable energy by creating advanced technologies and the most captivating luxury electric vehicles centered around the human experience.
The Davis Polk corporate team included partner Emily Roberts and associates Joze Vranicar, Joseph G. Marano and Michael Kostukovsky. Members of the Davis Polk team are based in the Northern California and New York offices.