Saudis pump more cash into EV maker Lucid Group

By Greg Barr | Phoenix Business Journal

Lucid Group Inc., the California electric vehicle company that produces its luxury sedans in Arizona, has gone back to its Middle East investors to help shore up its balance sheet amid its ongoing need for fresh capital.

Ayer Third Investment Co., which is affiliated with Lucid’s major shareholder, the Saudi Public Investment Fund (PIF), has agreed to purchase $1 billion worth of convertible preferred stock, equating to about 278 million common shares at $3.59 apiece, or 12% of the company’s outstanding share float, according to a March 25 regulatory filing. The convertible shares are locked up for a period of 12 months, the filing states.

Read the full subscription story from the Phoenix Business Journal.

Share this!

April 1, 2024

Additional Articles

More on Tela Peralta eco-tourism resort coming to Gold Canyon, with remarks about the project from Rose Law Group Founder and President Jordan Rose

(Disclosure: Rose Law Group represents the owners of Tela Peralta.) By Richard Dyer | YourValley An ecotourism resort with a holistic healing spa and outdoor

WATCH: Maricopa County Supervisor, Board Vice Chair, and Rose Law Group partner Thomas Galvin takes ABC 15 on tour of new East Valley Animal Care and Control Center

WATCH THE ABC 15 SEGMENT HERE Mesa, AZ (April 17, 2024) – Maricopa County Animal Care & Control (MCACC) will open a new 84,000 square-foot

They thought they were joining an accelerator — instead they lost their startups; Shruti Gurudanti, Rose Law Group partner and corporate transactions director, weighs in with a tip

“Not all startup accelerators are good or even helpful. Founders should consult with a lawyer before joining these programs to fully understand what they’re signing

Get Involved

Write a letter to the editor

Write a guest opinion

Submit news

Stay Informed

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

Recent Articles

Pinal County District 5 Supervisor Jeff Serdy visits Rose Law Group

Rose Law Group’s Scottsdale office held a mixer for Supervisor Jeff Serdy, who has served the county for seven consecutive years and he says he

Elon Musk’s Neuralink begins clinical trials at Barrow Neurological Institute

(Disclosure: Rose Law Group Founder and President Jordan Rose is a member of the Barrow Neurological Foundation Board of Trustees and is co-chair of the

Arizona may fund tool to allow candidates to verify election results, ballot by ballot

Republican senator says granting access to digital ballot images and voting records would head off frivolous challenges. Jen Fifield Votebeat Arizona state Sen. Ken Bennett

Friday May 3 News & Views

State Supreme Court reverses sanctions against Arizona GOP in 2020 election challenge The decision overturns lower courts’ rulings and could chill similar sanctions in future

Paul Coble, intellectual property & artificial intelligence department chair at Rose Law Group, explains why A.I. start-ups face a rough financial reality check

By The New York Times Call it the end of the beginning of the A.I. boom. Since mid-March, the financial pressure on several signature artificial

Gov. Hobbs vetoes bills to curb AG’s groundwater plan

Howard Fischer Capitol Media Services Gov. Katie Hobbs won’t let Republican lawmakers strip away the right of Attorney General Kris Mayes to sue the owners

M	T	W	T	F	S	S
1	2	3	4	5	6	7
8	9	10	11	12	13	14
15	16	17	18	19	20	21
22	23	24	25	26	27	28
29	30

Saudis pump more cash into EV maker Lucid Group

Additional Articles

More on Tela Peralta eco-tourism resort coming to Gold Canyon, with remarks about the project from Rose Law Group Founder and President Jordan Rose

WATCH: Maricopa County Supervisor, Board Vice Chair, and Rose Law Group partner Thomas Galvin takes ABC 15 on tour of new East Valley Animal Care and Control Center

They thought they were joining an accelerator — instead they lost their startups; Shruti Gurudanti, Rose Law Group partner and corporate transactions director, weighs in with a tip

News Categories

Get Involved

Stay Informed

Recent Articles

Pinal County District 5 Supervisor Jeff Serdy visits Rose Law Group

Elon Musk’s Neuralink begins clinical trials at Barrow Neurological Institute

Arizona may fund tool to allow candidates to verify election results, ballot by ballot

Friday May 3 News & Views

Paul Coble, intellectual property & artificial intelligence department chair at Rose Law Group, explains why A.I. start-ups face a rough financial reality check

Gov. Hobbs vetoes bills to curb AG’s groundwater plan

Post Calendar

Saudis pump more cash into EV maker Lucid Group

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!