Lucid Group Files 8-K on Financials

TL;DR

Lucid Group filed an 8-K on Oct 16th, expect financial updates soon.

AI Summary

Lucid Group, Inc. filed an 8-K on October 16, 2024, reporting on its financial condition and results of operations. The filing also includes Regulation FD disclosures and financial statements. No specific financial figures or significant events were detailed in the provided excerpt.

Why It Matters

This filing provides an update on Lucid Group's financial status, which is crucial for investors to assess the company's performance and future prospects.

Risk Assessment

Risk Level: medium — 8-K filings can contain significant financial or operational news that may impact stock price, but the provided excerpt lacks specific details to assess the immediate risk.

Key Players & Entities

• Lucid Group, Inc. (company) — Registrant
• October 16, 2024 (date) — Date of Report
• Delaware (jurisdiction) — State of Incorporation
• 7373 Gateway Boulevard Newark, CA 94560 (address) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.0001 — hich registered Class A Common Stock, $0.0001 par value per share LCID The Nasdaq S
• $5.16 billion — eptember 30, 2024, we had approximately $5.16 billion of total liquidity, consisting of (i) a
• $4,027 million — uidity, consisting of (i) approximately $4,027 million in cash, cash equivalents, and investme
• $750 million — ivalents, and investment balances, (ii) $750 million available under our DDTL Credit Facilit
• $160 million — TL Credit Facility, (iii) approximately $160 million available under our ABL Credit Facility
• $219 million — Credit Facility and (iv) approximately $219 million available under our GIB Credit Facility

Filing Documents

• tm2426052d7_8k.htm (8-K) — 36KB
• tm2426052d7_ex99-1.htm (EX-99.1) — 10KB
• 0001104659-24-109242.txt ( ) — 220KB
• lcid-20241016.xsd (EX-101.SCH) — 3KB
• lcid-20241016_lab.xml (EX-101.LAB) — 33KB
• lcid-20241016_pre.xml (EX-101.PRE) — 22KB
• tm2426052d7_8k_htm.xml (XML) — 3KB

02

Item 2.02 Results of Operations and Financial Condition. The Company intends to file a preliminary prospectus supplement with the Securities and Exchange Commission (the "Preliminary Prospectus Supplement") on October 16, 2024 in connection with a proposed underwritten public offering (the "Offering") of its Class A common stock, par value $0.0001 per share (the "Common Stock"). The Preliminary Prospectus Supplement is expected to include the following disclosure under the heading "Recent Developments" : " Preliminary Financial Results and Operational Information Although our financial results for the quarter ended September 30, 2024 are not yet finalized, we estimate that our financial results and certain operational information will fall within the following ranges. Quarter Ended September 30, 2024 Low High (in thousands) Revenue $ 199,000 $ 200,000 Loss from operations $ (765,000 ) $ (790,000 ) Balance Sheet Data: Cash and cash equivalents (at end of period) $ 1,893,000 $ 1,894,000 Long-term debt (at end of period) $ 2,000,800 $ 2,000,800 As of September 30, 2024, we had approximately $5.16 billion of total liquidity, consisting of (i) approximately $4,027 million in cash, cash equivalents, and investment balances, (ii) $750 million available under our DDTL Credit Facility, (iii) approximately $160 million available under our ABL Credit Facility and (iv) approximately $219 million available under our GIB Credit Facility. Availability under our ABL Credit Facility is subject to the value of eligible assets in the borrowing base. In addition, during the quarter ended September 30, 2024, we produced 1,805 vehicles and delivered 2,781 vehicles, of which approximately 8% were subject to operating lease accounting." The foregoing estimates are preliminary as the Company is in the process of completing its closing procedures for the quarter ended September 30, 2024. The preliminary estimates are based sol

01

Item 7.01 Regulation FD Disclosure. The information contained in

02 of this Current Report on Form 8-K is incorporated by reference herein

Item 2.02 of this Current Report on Form 8-K is incorporated by reference herein. On October 16, 2024, the Company issued a press release (the "Press Release") announcing that it has commenced the Offering and a concurrent private placement of Common Stock to its majority stockholder, Ayar Third Investment Company. A copy of this Press Release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference. The information in this current report on Form 8-K and the exhibits attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Lucid Press Release dated October 16, 2024 104 Cover Page Interactive Data File (formatted as inline XBRL). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: October 16, 2024 Lucid Group, Inc. By: /s/ Gagan Dhingra Gagan Dhingra Interim Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR