Lucid Group Inc - LCID STOCK NEWS

Lucid Group (LCID) has announced an agreement to acquire select facilities and assets previously owned by Nikola in Arizona, pending U.S. Bankruptcy Court approval. The acquisition includes Nikola's former Coolidge manufacturing facility and Phoenix headquarters, adding over 884,000 square feet to Lucid's Arizona footprint.

The deal excludes Nikola's business, customer base, and hydrogen fuel cell electric truck technology. The facilities feature state-of-the-art manufacturing and warehousing buildings, development equipment, battery testing chambers, and a chassis dynamometer. Additionally, Lucid plans to extend employment offers to more than 300 former Nikola employees across various technical roles.

The acquisition follows Nikola's Chapter 11 bankruptcy auction conclusion on April 10, 2025. Interim CEO Marc Winterhoff stated the expansion will support Lucid's production ramp of Gravity and upcoming midsize platform vehicles while maintaining their commitment to the Arizona community.

Lucid Group (LCID) has successfully closed a $1.1 billion convertible senior notes offering due 2030, including the full exercise of the initial purchasers' $100 million option. The company simultaneously repurchased approximately $1.05 billion of its existing 1.25% convertible notes due 2026.

The new offering features capped call hedges that increase the effective conversion price to $4.80 per share, representing a 100% premium over the last reported stock price of $2.40. The net proceeds of approximately $1.08 billion were allocated as follows: $118.3 million for capped call transactions, $935.6 million for existing notes repurchase, with the remainder designated for general corporate purposes.

The deal structure, supported by PIF through a prepaid forward share purchase, aims to minimize dilution impact on existing shareholders. Lucid maintains flexibility to settle future conversions in cash, stock, or a combination thereof.

Lucid Group (LCID) has announced the pricing of $1 billion in convertible senior notes due 2030, with a 5.00% annual interest rate. The notes will be convertible into cash, LCID common stock, or a combination at Lucid's discretion, with an initial conversion rate of 333.3333 shares per $1,000 principal amount, representing a conversion price of approximately $3.00 per share.

The company expects net proceeds of approximately $983.6 million, which will be used primarily to fund repurchases of existing 2026 notes ($935.6 million) and capped call transactions ($107.5 million). The notes will mature on April 1, 2030, unless earlier repurchased, redeemed, or converted.

In connection with the offering, Lucid has entered into capped call transactions to reduce potential dilution, with a cap price of $4.80 per share. Additionally, Ayar Third Investment Company, a subsidiary of Saudi Arabia's Public Investment Fund, has entered into a $430 million prepaid forward transaction for LCID common stock.

Lucid Group (LCID) has announced plans to offer $1 billion in convertible senior notes due 2030, with an additional $100 million option for initial purchasers. The notes will be senior, unsecured obligations with semi-annual interest payments, maturing on April 1, 2030.

The company plans to use the proceeds to repurchase a portion of its outstanding 1.25% Convertible Senior Notes due 2026 and fund capped call transactions. The notes will be convertible under certain conditions, with Lucid having the flexibility to settle conversions in cash, common stock, or a combination thereof.

In conjunction with the offering, Lucid will enter into capped call transactions to reduce potential dilution. Additionally, Ayar Third Investment Company, a subsidiary of Saudi Arabia's Public Investment Fund, will enter into a prepaid forward transaction that could influence LCID's stock price during the notes' pricing.

Lucid Group (NASDAQ: LCID) has released its Q1 2025 production and delivery figures. The luxury EV manufacturer produced 2,212 vehicles in the quarter ending March 31, 2025, with an additional 600+ vehicles in transit to Saudi Arabia for final assembly. The company delivered 3,109 vehicles during the same period.

The company will discuss its complete Q1 2025 financial results in an upcoming earnings call scheduled for May 6, 2025 at 2:30 PM PT / 5:30 PM ET. To improve shareholder engagement, Lucid is collaborating with Say Technologies to implement a Q&A platform where investors can:

• Submit and upvote questions from April 22 to May 5, 2025
• Access the platform at app.saytechnologies.com/lucid-group-2025-q1
• Watch the live webcast at ir.lucidmotors.com

The company notes that production and delivery numbers are just one performance metric and should not be considered sole indicators of quarterly financial results.

Lucid Group (NASDAQ: LCID) announced a significant leadership transition as CEO Peter Rawlinson steps down from his roles to become Strategic Technical Advisor to the Chairman. Marc Winterhoff, the company's Chief Operating Officer, has been appointed Interim CEO while the Board initiates a search for a permanent chief executive.

Rawlinson's departure comes after twelve years with the company and following the successful launch of the Lucid Gravity. Under his leadership, Lucid evolved from a small startup to a recognized technological leader in sustainable mobility. The transition is part of the company's regular succession planning process.

Winterhoff will focus on ramping up production of the Lucid Gravity, preparing for the launch of three midsize platform vehicles, developing the low-cost Atlas drive unit, and implementing aggressive cost reduction measures. The company aims to position itself for long-term growth and gross margin improvement.

Lucid Motors (LCID) reported its Q4 and full year 2024 financial results, achieving production of 3,386 vehicles in Q4 and 9,029 vehicles for the full year, meeting their 2024 guidance. Vehicle deliveries reached 3,099 in Q4 and 10,241 for 2024, marking increases of 79% and 71% compared to 2023 respectively.

Q4 revenue was $234.5 million, with annual revenue reaching $807.8 million. The company reported a GAAP net loss per share of $(0.22) in Q4 and $(1.25) for 2024. Lucid ended Q4 with $6.13 billion in total liquidity and announced 2025 production guidance of approximately 20,000 vehicles.

The company also announced a leadership change, with COO Marc Winterhoff appointed as Interim CEO, while Peter Rawlinson transitions to Strategic Technical Advisor to the Chairman of the Board.

Lucid Motors has announced the availability of its Lucid Gravity SUV for Canadian customers, with the Grand Touring model starting at $134,500 CDN and the Touring version at $113,500 CDN. The Grand Touring model features dual electric motors delivering 828 horsepower and over 720km of projected range.

The vehicle offers seating for up to seven adults and nearly 3,400 litres of cargo space. Notable features include NACS charging compatibility with Tesla's Supercharger network and 400 kW fast charging capability. The Grand Touring model can charge at up to 400 kW on 1000V equipment and 225 kW on 500V architecture, adding approximately 200 miles in under 12 minutes.

The Gravity comes with six exterior color options, wheel sizes from 20 to 23 inches, and five interior themes. Standard features include two-row seating, with an optional third row available. The Comfort & Convenience Package, standard in Canada, includes auto-cinching soft-close doors, heated features, and active cabin air filtration.

Lucid Group (NASDAQ: LCID) has announced the promotion of Emad Dlala to Senior Vice President of Powertrain, effective immediately. In his expanded role, Dlala will continue overseeing powertrain development and engineering, including drive units, power electronics, batteries, and Lucid's efficiency and charging strategy.

Dlala, who has been with Lucid since 2015, has played a important role in developing breakthrough technologies for the Lucid Air and Gravity models. He brings over 20 years of engineering experience, previously serving as Senior Application Engineer at ANSYS Inc. He holds a PhD and M.Sc. in Electrical Engineering from Aalto University, Finland, and a B.Sc. from Al-Zawiya University, Libya.