Lucid will sell $1.8 billion worth of shares to an affiliate of Saudi Arabia's Public Investment Fund, which owns 60.5% of the company.
said that about $1.8 billion of the total will come from a private placement of stock with Saudi Arabia's Public Investment Fund , which owns about 60.5% of Lucid. PIF's stake will remain at the same level after the new funding round.
The transaction implies a price of about $6.80 per Lucid share, compared with the stock's May 31 close of $7.76. In the wake of the announcement, shares of the luxury EV maker went down 9 percent after market hours.The remaining $1.2 billion will be raised through a public offering of new shares – 173.5 million – that started on May 31, the company said. The public offering is expected to close on or about June 5, 2023.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
EV maker Lucid announces $3 billion raise from Saudi public wealth fund and stock offeringLucid is raising $3 billion via a secondary stock offering, including about $1.8 billion from the Saudi fund that controls the automaker.
Weiterlesen »
EV maker Lucid to raise about $3 billion from Saudi's PIF, othersLucid Group announced plans to raise about $3 billion through stock offerings, with most of the money expected to come from Saudi Arabia's Public Investment Fund (PIF), sending shares of the embattled electric-vehicle maker down 9% after market hours.
Weiterlesen »
Lucid stock falls after EV maker files for new offering, seeking $3 billionShares of Lucid Group Inc. fell more than 6% in the extended session Wednesday after the EV maker filed for a new share offering and an additional...
Weiterlesen »
Shareholder values Elon Musk’s Twitter at $15 billion, a $29 billion mistake?Twitter is worth just one-third of what Elon Musk paid for, according to Fidelity, which recently marked down the value of its equity stake.
Weiterlesen »
Motor Mouth: Why Trudeau may be balking at Stellantis’ demandsWhy Trudeau may be balking at Stellantis’ demands — via drivingdotca ElectricVehicles
Weiterlesen »
Lucid Air Grand Touring Ownership Review: Better Than Tesla Model S?Former Tesla Model S owner buys a Lucid Air Grand Touring and reveals several of its advantages and pitfalls.
Weiterlesen »