PUBLIC INVESTMENT FUND - 22 Jun 2023 Form 4 Insider Report for Lucid Group, Inc. (LCID)

Role
Director, 10%+ Owner
Signature
The Public Investment Fund, /s/ Yasir O. AlRumayyan, Governor
Issuer symbol
LCID
Transactions as of
22 Jun 2023
Net transactions value
+$1,814,687,991
Form type
4
Filing time
26 Jun 2023, 17:09:44 UTC
Previous filing
03 Jan 2023
Next filing
02 Apr 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LCID Class A Common Stock Purchase $1,814,687,991 +265,693,703 +24% $6.83 1,366,658,905 22 Jun 2023 By Ayar Third Investment Company F1, F2
holding LCID Class A Common Stock 8,041,393 22 Jun 2023 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On May 31, 2023, Lucid Group, Inc. (the "Issuer") announced it had priced an underwritten public offering of 173,544,948 shares of its common stock for aggregate gross proceeds to the Issuer of approximately $1.2 billion (the "Public Offering"). On June 22, 2023, Ayar Third Investment Company ("Ayar") purchased from the Issuer 265,693,703 shares of Issuer common stock in a private placement for an aggregate purchase price of approximately $1.8 billion in a private placement pursuant to a subscription agreement entered into concurrently with the Public Offering.
F2 Ayar is a wholly-owned subsidiary of The Public Investment Fund of Saudi Arabia ("PIF"), and as such PIF may be deemed to beneficially own the Shares held by Ayar. In addition, each of H.E. Yasir O. Al Rumayyan, the Governor of PIF, and Turqui A. Alnowaiser, Deputy Governor and Head of the International Investments Division of the PIF, may be deemed to beneficially own the shares owned by Ayar by virtue of shared power to vote the shares. Neither H.E. Al Rumayyan nor Mr. Alnowaiser has any, and each and disclaims, any pecuniary interest in the shares.

Remarks:

PIF may be deemed a director by deputization, as Mr. Alnowaiser, an employee of PIF, serves as a representative of Ayar on the Board of Directors of the Issuer.