Saudi Arabia's PIF Purchases Additional Lucid Shares via Convertible Preferred Stock
The Public Investment Fund of Saudi Arabia (PIF), a major shareholder in Lucid Group, acquired an additional 55,000 shares of Series C convertible preferred stock on April 28, 2026. This transaction does not directly increase PIF's ownership stake but provides indirect exposure to approximately 50 million Class A common shares if converted.
Tickers: $LCID
Topics: convertible preferred stock SEC filing stock ownership