Saudi Arabia's Public Investment Fund Acquires Convertible Preferred Shares in Lucid Group
The Public Investment Fund of Saudi Arabia (PIF) acquired 55,000 shares of Series C convertible preferred stock in Lucid Group (LCID) on April 28, 2026. These shares are convertible into approximately 50.85 million Class A Common shares. The transaction was made through PIF's subsidiary, Ayar Third Investment Company, and does not indicate an exit from Lucid Group.
Tickers: $LCID
Topics: convertible preferred stock Lucid Group Saudi Public Investment Fund stock purchases