Lucid
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Lucid Group, Inc. Announces Public Investment Fund Commitment of $1.5 Billion
Lucid Group, Inc. (NASDAQ: LCID) announced that it has entered into agreements with its majority stockholder, Ayar Third Investment Company (“Ayar”), an affiliate of the Public Investment Fund (“PIF”), to (i) purchase $750 million of convertible preferred stock via private placement, and (ii) provide for a $750 million unsecured delayed draw term loan facility, subject to certain terms and conditions (the “Delayed Draw Term Loan Facility”).