New York, March 25, 2024 - PRISM MarketView - While the EV sector faces hardships and names such as Fisker (FSR) struggle today, Lucid Group, Inc. (LCID) has announced some positive news, sending its share price up ~8% and pushing its daily volume to ~82M shares. The company has entered into an agreement with majority stockholder Ayar Third Investment Company, an affiliate of the Public Investment Fund (PIF) to purchase $1.0Bn of newly created convertible preferred stock through a private placement.
The net proceeds from this are intended to be utilized for general corporate purposes such as capital expenditures and working capital. The private placement is still subject to customary closing conditions. Lucid is a participating company in the PRISM EV Index.
Lucid Group, Inc. (NASDAQ: LCID) if featured on PRISM Emerging EV Index
About PRISM MarketView:
Established in 2020, PRISM MarketView is dedicated to the monitoring and analysis of small cap stocks in burgeoning sectors. We deliver up-to-the-minute financial market news, provide comprehensive investor tools and foster a dynamic investor community. Central to our offerings are proprietary indexes that observe emerging sectors, including biotech, clean energy, next-generation tech, medical devices and beyond. Visit us at prismmarketview.com and follow us on Twitter.
Disclaimer:
PRISM MarketView is not a registered or licensed broker-dealer or investment adviser and does not offer investment advice. The information provided in this communication is not intended to constitute an offer to sell, a solicitation of an offer to buy, or a recommendation for any security.
Contact:
Prism MarketView | Stock Market News & Investment Opportunities
PRISM MarketView - Social Media (X)