Lucid Group raises another $1 billion from a Saudi Arabian investor
Lucid had last raised a capital of $1.5 billion from Ayar Third Investment Co. via private placement in December 2022
US based premium electric car maker Lucid Group, Inc. announced on March 25 that it has entered into an agreement with its majority stockholder, Ayar Third Investment Company, an affiliate of the Public Investment Fund (PIF), to purchase $1 billion of newly created series of convertible preferred stock via private placement, subject to customary closing conditions.
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