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Lucid Group, Inc. Announces Closing of Private Offering of $975.0 Million of Convertible Senior Notes Due 2031

On Nov. 17, 2025, Lucid Group closed a $975.0 million private offering of convertible senior notes due 2031, including full exercise of a $100.0 million purchaser option, and agreed to repurchase about $755.7 million principal of existing 1.25% convertible senior notes due 2026.
Lucid intends to use the remainder of net proceeds for general corporate purposes, and Taoufiq Boussaid, Chief Financial Officer, said the deal strengthened the balance sheet while minimizing impact to shareholders.
Net proceeds were approximately $962.4 million after fees, and Lucid applied about $752.2 million of those proceeds to repurchase outstanding 2026 notes.
As an outcome, the deal gives Lucid flexibility as it may settle conversions in cash, stock, or a combination, while cautioning that forward-looking statements face risks.
Lucid, a Silicon Valley-based EV maker, assembles vehicles in Arizona and Saudi Arabia and directs readers to risk factors in its Form 10-K for the year ended December 31, 2024.

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