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Corporate Score 68 Bullish

Lucid Group Secures $1.05 Billion Capital Boost via Public Offering and Strategic Investments

Apr 14, 2026 12:54 UTC
LCID, UBER
Short term

Electric vehicle manufacturer Lucid Group has priced a $300 million public offering as part of a broader $1.05 billion funding round. The capital injection includes significant commitments from Uber and the Saudi Public Investment Fund (PIF).

  • Priced $300 million public offering closing April 15
  • Total funding round reaches approximately $1.05 billion
  • Ayar Third (PIF affiliate) contributes $550 million in convertible preferred stock
  • Uber total investment reaches $500 million
  • Uber commits to 35,000 custom vehicles for robotaxi fleet
  • LCID shares rose 4.76% in pre-market trading

Lucid Group (LCID) announced on Tuesday the pricing of an underwritten public offering of shares expected to generate $300 million in gross proceeds. The offering is slated to close on or about April 15. This public offering is part of a larger strategic funding effort totaling approximately $1.05 billion. The company is receiving a $550 million investment in convertible preferred stock from Ayar Third Investment, an affiliate of the Public Investment Fund (PIF). Uber Technologies (UBER) is further expanding its relationship with Lucid, committing an additional $200 million to bring its total investment in the EV maker to $500 million. Beyond the financial injection, Uber has increased its purchase commitment to at least 35,000 Lucid vehicles, which will be designed specifically for Uber's future robotaxi service. The news was well-received by investors, with LCID shares rising 4.76% to $9.68 in pre-market trading on the Nasdaq. The combined capital raise provides a critical liquidity cushion and validates Lucid's technology through a high-volume commercial commitment from a global ride-sharing leader.

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