Lucid Group stock surges after completing stock sale (NASDAQ:LCID)
Lucid Group, Inc. (LCID) announced today the completion of an "at-the-market" equity offering program on Monday after the market close.
hapabapa/iStock Editorial via Getty Images Lucid Group, Inc. (NASDAQ :LCID) announced that an "at-the market" equity offering program was completed on Monday following the close of the markets. The automaker plans to raise $915M via a private placement, which will involve approximately 85.7M shares being sold to Ayar Third Investment Company, an affiliate of Public Investment Fund. Lucid shares surged more than 7% to post-market highs, before settling down to 3.73% at 6PM ET. Learn more about why Bank of America considers Lucid shares a standout among the crowded electric vehicle market.