LCID Lucid Group, Inc.
Price Chart
Executive Summary
Lucid Group raised $550M via a private placement of Series C Convertible Preferred Stock to Ayar Third Investment Company (PIF affiliate). The 55,000 shares have an initial conversion price of $10.8160, a 9% PIK dividend, and are convertible into common stock only at prices above $16.30. The capital infusion strengthens the balance sheet but creates a senior claim and potential dilution, while the high dividend cost and dependency on the majority shareholder signal ongoing capital needs.
Key Financial Metrics
Actionable Insight
The $550M injection provides near-term liquidity relief, but the 9% PIK dividend and conversion features add future cost and dilution. Monitor cash burn rate and next earnings for progress toward profitability; the conversion trigger price of $16.30 is far above current levels, so dilution is not imminent. The PIF's continued support reduces bankruptcy risk but signals limited external financing options.
Key Facts
- 55,000 shares of Series C Convertible Preferred Stock issued to Ayar (PIF) at $10,000/share for $550M total
- Initial conversion price of $10.8160 per common share; conversion allowed only if common stock closes above $16.30
- 9% annual dividend, payable in additional Accrued Value (PIK), not cash; rate increases up to 15% under certain conditions
- Company can force conversion after 3 years if stock VWAP exceeds 200% of conversion price for 20 days in 30-day period
- PIF investor has unlimited beneficial ownership limitation; other investors capped at 9.9%
- Voting cap of 301.4993 votes per share until stockholder approval is obtained
Financial Impact
$550M capital infusion with 9% annual PIK dividend equating to $49.5M per year in accrued value
Risk Factors
- Future dilution if common stock appreciates above conversion price
- High 9% annual dividend cost (PIK) reduces equity value per share over time
- Senior liquidation preference over common stock subordinates common shareholders
- Dependence on majority shareholder (PIF) for capital raises indicates weak market access
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-051606 |
| Document: tm2611666d6_8k.htm | 0001104659-26-051606 |
| Document: tm2611666d6_ex10-1.htm | 0001104659-26-051606 |
| Document: 0001104659-26-051606-index-headers.html | 0001104659-26-051606 |
| Document: 0001104659-26-051606-index.html | 0001104659-26-051606 |
| Document: 0001104659-26-051606.txt | 0001104659-26-051606 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 11, 2026
1d ago
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Institutional Cluster
| $5.10 awaiting T+5 | awaiting T+5 | — | $5.20 (+1.96%) |
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Jun 1, 2026
12d ago
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8-K
| $6.65 $5.12 | ▼ −23.08% | ▼ −20.33% | $5.20 (−21.80%) |
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Apr 29, 2026
6w ago
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8-K
| $6.37 $6.19 | ▼ −2.83% | ▼ −4.55% | $5.20 (−18.37%) |
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Apr 20, 2026
7w ago
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3
| $7.11 $5.87 | ▼ −17.44% | ▼ −18.52% | $5.20 (−26.86%) |
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Apr 17, 2026
8w ago
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3
| $6.75 $5.93 | ▼ −12.15% | ▼ −13.06% | $5.20 (−22.96%) |
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Apr 14, 2026
8w ago
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8-K
| $8.80 $7.11 | ▼ −19.20% | ▼ −20.60% | $5.20 (−40.91%) |
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Apr 14, 2026
8w ago
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424B5
| $8.80 $7.11 | ▲ +19.20% | ▲ +20.60% | $5.20 (+40.91%) |
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Apr 14, 2026
8w ago
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S-3ASR
| $8.80 $7.11 | ▲ +19.20% | ▲ +20.60% | $5.20 (+40.91%) |
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Apr 14, 2026
8w ago
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8-K
| $8.80 $7.11 | ▲ +19.20% | ▲ +20.60% | $5.20 (+40.91%) |
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Apr 14, 2026
8w ago
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8-K
| $8.80 $7.11 | ▼ −19.20% | ▼ −20.60% | $5.20 (−40.91%) |
US Market Status
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