Tesla Rival Lucid Raises $1 Billion Via Convertible Debt To Refinance 2026 Notes And Boost Financial Flexibility
Lucid Group, Inc (LCID) announced pricing of $1 billion convertible notes due 2030, granting option for additional $0.1 billion. Interest of 5%, convertible at $3 per share, with 25% premium. Proceeds to fund repurchases and capped call transactions. Sharp increase in orders from ex-Tesla owners.