LCID$3.44▼ 9.4%Lucid's Saudi loan had $1.98 billion unused at June 30. About $400 million is left
Lucid has drawn about $2.1 billion of its Saudi majority owner's loan since April, an Oct. 9 filing shows, leaving about $400 million. In the first half, its free cash flow ran about $1.5 billion negative a quarter.
KeyVex News··6 min readFact-checked against 12 public recordsKeyVex News··6 min readFact-checked against 12 public recordsLCID$3.44▼ 9.4%Close, Oct. 12. Prices from Tiingo.The short versionTap to readTap to close
- At June 30, the biggest part of Lucid's cushion was $1.98 billion its Saudi majority owner had agreed to lend but not yet lent. With cash and two other credit lines, it had $3.0 billion.
- In the first half, Lucid's business and capital spending used about $1.5 billion of cash a quarter. A company spending more than it brings in covers the gap with cash, borrowing or selling stock.
- Since June 30, Lucid has borrowed $1.6 billion of that line, leaving about $400 million. Borrowing moves money into the bank; it does not add to the $3.0 billion. Spending shrinks that total.
- In August, Lucid said its new financing and operating changes give it a runway "well into 2027." Its chief executive told CNBC it will need more capital "at some point," the site EV reported.
- Lucid reports third-quarter results on Nov. 9, the first numbers to show how much cash it used from July through September.
The draw: Lucid Group borrowed another $400 million on Oct. 6 from its majority owner, an affiliate of Saudi Arabia's Public Investment Fund, it disclosed after the market closed on Oct. 9.8-K8-K It was the fourth draw since April, for about $2.1 billion in all; about $400 million is left.8-K In April, the two sides enlarged the loan and removed a requirement that Lucid keep a minimum level of liquidity.8-K
Why it matters: At June 30, the money Lucid could still borrow on this loan, $1.98 billion, was the largest part of the $3.0 billion it counted as liquidity: cash and investments plus credit it had not used.10-Q8-K Borrowing moves money from the line into the bank, so it does not change that total. What it changes is how much Lucid can still take from this line: about $400 million.8-K
The cash: Lucid's free cash flow, its cash from operations minus capital spending, was about $1.44 billion negative in the first quarter and about $1.48 billion in the second.8-K8-K The second-quarter figure was the most of any quarter since the start of 2025.Data Lucid's quarterly report tied much of the first-half rise in cash used to higher inventory purchases as it ramped up production of its Gravity SUV.10-Q
Its words: In its Aug. 4 results, Lucid said recently secured financing, combined with ongoing operational measures, provides "sufficient liquidity runway well into 2027."8-K Its quarterly report, filed the same day, said its cash sources and projected operating cash flows would provide "adequate liquidity for at least the next 12 months."10-Q In August, chief executive Silvio Napoli told CNBC, "At some point, we will need more capital," the site EV (eletric-vehicles.com) reported.EV
The stock: The shares fell 9.4% on Oct. 12, the first session after the filing, to $3.435. That was their lowest close since Lucid listed in July 2021, adjusted for a 2025 reverse split. It was 67.5% below where they ended 2025.Chart data
Lucid's stock and the Saudi loan's key datesDaily close, Oct. 1, 2025 to Oct. 12, 2026 ▼ 85.9%Show chartHide chart
- 1Nov. 4, 2025 The Saudi loan is raised to about $1.98 billion. Signed in August 2024 at $750 million. Nothing had been drawn yet.
- 2April 1, 2026 First draw: $500 million. Disclosed in the April 14 filing.
- 3April 14, 2026 Line raised to about $2.48 billion; minimum-liquidity covenant dropped. The same day, the Saudi owner agreed to buy $550 million of convertible preferred stock.
- 4July 6, 2026 Second draw: $800 million. Disclosed after the close the same day.
- 5Aug. 4, 2026 Second-quarter results. Free cash flow of about $1.48 billion negative. Lucid says its runway runs "well into 2027."
- 6Aug. 24, 2026 Third draw: $400 million. Disclosed Aug. 28.
- 7Oct. 6, 2026 Fourth draw: $400 million; about $400 million left. Disclosed after the close on Oct. 9.
- 8Oct. 12, 2026 The first session after the disclosure. Close $3.435, down 9.4%.
View the data (259 trading days)
| Date | Close | Day change |
|---|---|---|
| 2026-10-12 | $3.44 | −9.4% |
| 2026-10-09 | $3.79 | −0.8% |
| 2026-10-08 | $3.82 | −1.8% |
| 2026-10-07 | $3.89 | −6.5% |
| 2026-10-06 | $4.16 | −0.2% |
| 2026-10-05 | $4.17 | +1.0% |
| 2026-10-02 | $4.13 | −1.4% |
| 2026-10-01 | $4.19 | +2.9% |
| 2026-09-30 | $4.07 | 0.0% |
| 2026-09-29 | $4.07 | +4.4% |
| 2026-09-28 | $3.90 | −4.2% |
| 2026-09-25 | $4.07 | −1.9% |
| 2026-09-24 | $4.15 | −0.2% |
| 2026-09-23 | $4.16 | −3.7% |
| 2026-09-22 | $4.32 | +0.5% |
| 2026-09-21 | $4.30 | +5.1% |
| 2026-09-18 | $4.09 | −4.4% |
| 2026-09-17 | $4.28 | +5.9% |
| 2026-09-16 | $4.04 | −1.9% |
| 2026-09-15 | $4.12 | −1.0% |
| 2026-09-14 | $4.16 | −1.4% |
| 2026-09-11 | $4.22 | +1.0% |
| 2026-09-10 | $4.18 | −2.1% |
| 2026-09-09 | $4.27 | −7.8% |
| 2026-09-08 | $4.63 | −1.1% |
| 2026-09-04 | $4.68 | +1.7% |
| 2026-09-03 | $4.60 | −2.3% |
| 2026-09-02 | $4.71 | +3.5% |
| 2026-09-01 | $4.55 | −6.2% |
| 2026-08-31 | $4.85 | −3.2% |
| 2026-08-28 | $5.01 | −1.6% |
| 2026-08-27 | $5.09 | +2.8% |
| 2026-08-26 | $4.95 | −5.9% |
| 2026-08-25 | $5.26 | +3.3% |
| 2026-08-24 | $5.09 | −7.6% |
| 2026-08-21 | $5.51 | −2.0% |
| 2026-08-20 | $5.63 | −5.0% |
| 2026-08-19 | $5.92 | +2.6% |
| 2026-08-18 | $5.77 | −7.2% |
| 2026-08-17 | $6.22 | 0.0% |
| 2026-08-14 | $6.22 | −3.4% |
| 2026-08-13 | $6.44 | −1.5% |
| 2026-08-12 | $6.54 | −2.4% |
| 2026-08-11 | $6.70 | +1.4% |
| 2026-08-10 | $6.61 | −6.1% |
| 2026-08-07 | $7.04 | +0.9% |
| 2026-08-06 | $6.98 | +4.2% |
| 2026-08-05 | $6.70 | −13.9% |
| 2026-08-04 | $7.78 | +1.0% |
| 2026-08-03 | $7.70 | +4.3% |
| 2026-07-31 | $7.38 | −9.1% |
| 2026-07-30 | $8.12 | +2.0% |
| 2026-07-29 | $7.96 | +0.8% |
| 2026-07-28 | $7.90 | +21.5% |
| 2026-07-27 | $6.50 | +3.2% |
| 2026-07-24 | $6.30 | −2.3% |
| 2026-07-23 | $6.45 | −4.9% |
| 2026-07-22 | $6.78 | −7.4% |
| 2026-07-21 | $7.32 | +3.0% |
| 2026-07-20 | $7.11 | −3.4% |
| 2026-07-17 | $7.36 | +13.9% |
| 2026-07-16 | $6.46 | +8.6% |
| 2026-07-15 | $5.95 | +28.8% |
| 2026-07-14 | $4.62 | −16.2% |
| 2026-07-13 | $5.51 | −0.7% |
| 2026-07-10 | $5.55 | −4.8% |
| 2026-07-09 | $5.83 | +0.2% |
| 2026-07-08 | $5.82 | −2.9% |
| 2026-07-07 | $6.00 | −10.0% |
| 2026-07-06 | $6.66 | +9.5% |
| 2026-07-02 | $6.08 | −8.3% |
| 2026-07-01 | $6.63 | −0.9% |
| 2026-06-30 | $6.69 | +2.8% |
| 2026-06-29 | $6.51 | +10.0% |
| 2026-06-26 | $5.92 | +15.6% |
| 2026-06-25 | $5.12 | −0.6% |
| 2026-06-24 | $5.15 | −0.8% |
| 2026-06-23 | $5.19 | +0.6% |
| 2026-06-22 | $5.16 | −3.7% |
| 2026-06-18 | $5.36 | +4.3% |
| 2026-06-17 | $5.14 | +2.4% |
| 2026-06-16 | $5.02 | −4.4% |
| 2026-06-15 | $5.25 | +1.0% |
| 2026-06-12 | $5.20 | +0.6% |
| 2026-06-11 | $5.17 | +10.0% |
| 2026-06-10 | $4.70 | −8.7% |
| 2026-06-09 | $5.15 | +1.1% |
| 2026-06-08 | $5.09 | −0.4% |
| 2026-06-05 | $5.12 | −9.9% |
| 2026-06-04 | $5.68 | −0.7% |
| 2026-06-03 | $5.72 | −7.3% |
| 2026-06-02 | $6.17 | −7.2% |
| 2026-06-01 | $6.65 | +1.5% |
| 2026-05-29 | $6.55 | +1.4% |
| 2026-05-28 | $6.46 | +3.2% |
| 2026-05-27 | $6.26 | +4.9% |
| 2026-05-26 | $5.97 | +2.2% |
| 2026-05-22 | $5.84 | 0.0% |
| 2026-05-21 | $5.84 | +2.8% |
| 2026-05-20 | $5.68 | +1.2% |
| 2026-05-19 | $5.61 | −2.1% |
| 2026-05-18 | $5.73 | −5.1% |
| 2026-05-15 | $6.04 | −3.7% |
| 2026-05-14 | $6.27 | −1.9% |
| 2026-05-13 | $6.39 | +6.3% |
| 2026-05-12 | $6.01 | −0.3% |
| 2026-05-11 | $6.03 | −4.9% |
| 2026-05-08 | $6.34 | +4.8% |
| 2026-05-07 | $6.05 | −2.3% |
| 2026-05-06 | $6.19 | −1.0% |
| 2026-05-05 | $6.25 | −6.6% |
| 2026-05-04 | $6.69 | +2.3% |
| 2026-05-01 | $6.54 | +2.7% |
| 2026-04-30 | $6.37 | +10.6% |
| 2026-04-29 | $5.76 | −1.9% |
| 2026-04-28 | $5.87 | −1.0% |
| 2026-04-27 | $5.93 | −5.1% |
| 2026-04-24 | $6.25 | −0.3% |
| 2026-04-23 | $6.27 | −9.3% |
| 2026-04-22 | $6.91 | −2.8% |
| 2026-04-21 | $7.11 | +5.3% |
| 2026-04-20 | $6.75 | −7.5% |
| 2026-04-17 | $7.30 | −5.2% |
| 2026-04-16 | $7.70 | −6.2% |
| 2026-04-15 | $8.21 | −6.7% |
| 2026-04-14 | $8.80 | −4.8% |
| 2026-04-13 | $9.24 | +7.7% |
| 2026-04-10 | $8.58 | −2.2% |
| 2026-04-09 | $8.77 | −0.6% |
| 2026-04-08 | $8.82 | −0.1% |
| 2026-04-07 | $8.83 | −5.4% |
| 2026-04-06 | $9.33 | −6.3% |
| 2026-04-02 | $9.96 | +4.2% |
| 2026-04-01 | $9.56 | +0.3% |
| 2026-03-31 | $9.53 | +4.2% |
| 2026-03-30 | $9.15 | −2.7% |
| 2026-03-27 | $9.40 | −5.1% |
| 2026-03-26 | $9.91 | −7.2% |
| 2026-03-25 | $10.68 | +3.1% |
| 2026-03-24 | $10.36 | +0.5% |
| 2026-03-23 | $10.31 | +2.5% |
| 2026-03-20 | $10.06 | −2.3% |
| 2026-03-19 | $10.30 | +3.5% |
| 2026-03-18 | $9.95 | −3.6% |
| 2026-03-17 | $10.32 | +4.3% |
| 2026-03-16 | $9.89 | −0.1% |
| 2026-03-13 | $9.90 | +0.6% |
| 2026-03-12 | $9.84 | −7.9% |
| 2026-03-11 | $10.68 | +4.3% |
| 2026-03-10 | $10.24 | −1.5% |
| 2026-03-09 | $10.40 | +6.4% |
| 2026-03-06 | $9.77 | −0.7% |
| 2026-03-05 | $9.84 | −4.2% |
| 2026-03-04 | $10.27 | +1.6% |
| 2026-03-03 | $10.11 | +0.8% |
| 2026-03-02 | $10.03 | +0.3% |
| 2026-02-27 | $10.00 | −5.6% |
| 2026-02-26 | $10.59 | +3.0% |
| 2026-02-25 | $10.28 | +3.6% |
| 2026-02-24 | $9.92 | +5.1% |
| 2026-02-23 | $9.44 | −1.2% |
| 2026-02-20 | $9.55 | −2.1% |
| 2026-02-19 | $9.75 | −0.5% |
| 2026-02-18 | $9.80 | −1.2% |
| 2026-02-17 | $9.92 | −3.5% |
| 2026-02-13 | $10.28 | +3.6% |
| 2026-02-12 | $9.92 | −1.3% |
| 2026-02-11 | $10.05 | −8.0% |
| 2026-02-10 | $10.92 | −1.5% |
| 2026-02-09 | $11.09 | +2.1% |
| 2026-02-06 | $10.86 | +14.0% |
| 2026-02-05 | $9.53 | −8.2% |
| 2026-02-04 | $10.38 | −1.1% |
| 2026-02-03 | $10.50 | +2.0% |
| 2026-02-02 | $10.29 | −7.0% |
| 2026-01-30 | $11.07 | −2.3% |
| 2026-01-29 | $11.33 | +3.8% |
| 2026-01-28 | $10.91 | −0.8% |
| 2026-01-27 | $11.00 | +3.4% |
| 2026-01-26 | $10.64 | −3.8% |
| 2026-01-23 | $11.06 | −3.6% |
| 2026-01-22 | $11.47 | 0.0% |
| 2026-01-21 | $11.47 | +17.9% |
| 2026-01-20 | $9.73 | −3.9% |
| 2026-01-16 | $10.12 | +0.7% |
| 2026-01-15 | $10.05 | −7.3% |
| 2026-01-14 | $10.84 | −0.9% |
| 2026-01-13 | $10.94 | −2.8% |
| 2026-01-12 | $11.26 | −0.6% |
| 2026-01-09 | $11.33 | +0.8% |
| 2026-01-08 | $11.24 | +2.2% |
| 2026-01-07 | $11.00 | −5.2% |
| 2026-01-06 | $11.60 | −0.8% |
| 2026-01-05 | $11.69 | +4.8% |
| 2026-01-02 | $11.15 | +5.5% |
| 2025-12-31 | $10.57 | −3.0% |
| 2025-12-30 | $10.90 | −1.9% |
| 2025-12-29 | $11.11 | −2.6% |
| 2025-12-26 | $11.41 | −3.4% |
| 2025-12-24 | $11.81 | +1.5% |
| 2025-12-23 | $11.63 | −5.4% |
| 2025-12-22 | $12.30 | +4.1% |
| 2025-12-19 | $11.82 | +3.2% |
| 2025-12-18 | $11.45 | +2.9% |
| 2025-12-17 | $11.13 | −3.4% |
| 2025-12-16 | $11.52 | −2.5% |
| 2025-12-15 | $11.81 | −5.8% |
| 2025-12-12 | $12.54 | −2.3% |
| 2025-12-11 | $12.83 | −1.2% |
| 2025-12-10 | $12.98 | +4.3% |
| 2025-12-09 | $12.45 | −2.4% |
| 2025-12-08 | $12.76 | −4.9% |
| 2025-12-05 | $13.42 | −5.2% |
| 2025-12-04 | $14.15 | +4.4% |
| 2025-12-03 | $13.56 | +5.3% |
| 2025-12-02 | $12.88 | +2.4% |
| 2025-12-01 | $12.58 | −7.7% |
| 2025-11-28 | $13.63 | +1.9% |
| 2025-11-26 | $13.38 | +1.9% |
| 2025-11-25 | $13.13 | +3.6% |
| 2025-11-24 | $12.67 | +3.0% |
| 2025-11-21 | $12.30 | +4.9% |
| 2025-11-20 | $11.72 | −6.0% |
| 2025-11-19 | $12.47 | −3.8% |
| 2025-11-18 | $12.96 | +0.4% |
| 2025-11-17 | $12.91 | −9.1% |
| 2025-11-14 | $14.20 | −6.4% |
| 2025-11-13 | $15.17 | −8.6% |
| 2025-11-12 | $16.59 | −2.4% |
| 2025-11-11 | $16.99 | −1.1% |
| 2025-11-10 | $17.18 | −0.6% |
| 2025-11-07 | $17.28 | −3.8% |
| 2025-11-06 | $17.96 | +4.2% |
| 2025-11-05 | $17.24 | +5.4% |
| 2025-11-04 | $16.36 | −1.7% |
| 2025-11-03 | $16.64 | −6.3% |
| 2025-10-31 | $17.75 | +1.3% |
| 2025-10-30 | $17.53 | −2.7% |
| 2025-10-29 | $18.02 | −0.5% |
| 2025-10-28 | $18.11 | +0.1% |
| 2025-10-27 | $18.10 | −2.1% |
| 2025-10-24 | $18.48 | −0.9% |
| 2025-10-23 | $18.65 | +0.8% |
| 2025-10-22 | $18.50 | −6.0% |
| 2025-10-21 | $19.69 | −1.0% |
| 2025-10-20 | $19.89 | +1.3% |
| 2025-10-17 | $19.63 | −4.4% |
| 2025-10-16 | $20.53 | −5.3% |
| 2025-10-15 | $21.67 | −1.1% |
| 2025-10-14 | $21.92 | +2.5% |
| 2025-10-13 | $21.39 | +2.0% |
| 2025-10-10 | $20.98 | −3.3% |
| 2025-10-09 | $21.69 | −3.7% |
| 2025-10-08 | $22.52 | +2.3% |
| 2025-10-07 | $22.01 | −8.4% |
| 2025-10-06 | $24.02 | −3.0% |
| 2025-10-03 | $24.77 | +2.8% |
| 2025-10-02 | $24.10 | −0.8% |
| 2025-10-01 | $24.30 |
As of the Oct. 12 close; the Oct. 13 close was not yet in KeyVex's data when this story was written. Source: Tiingo end-of-day closes, as traded, via KeyVex.
How the loan was drawn down
The loan, from the Saudi fund's unit Ayar Third Investment Company, began in August 2024 as $750 million. It is unsecured and comes due on Aug. 4, 2029.8-K In November 2025 it grew to about $1.98 billion, and Lucid had not drawn a dollar.8-K10-Q
The first $500 million came out on April 1.8-K On April 14, the two sides added $500 million more, bringing the line to about $2.48 billion.10-Q That amendment "eliminated the minimum liquidity covenant," the requirement to keep a set level of liquidity. It also dropped a rule that Lucid first use up a separate credit line backed by its assets.8-K
That day the Saudi owner also agreed to buy $550 million of new convertible preferred stock. A unit of Uber agreed to buy $200 million of common stock. Lucid also raised about $291.5 million, after costs, in a stock sale underwritten by BofA Securities.8-K8-K
Then the draws came faster: $800 million on July 6, $400 million on Aug. 24 and $400 million on Oct. 6.8-K8-K8-K At June 30 the interest rate on what Lucid had borrowed was 9.54%.10-Q
View the data
| Draw date | Amount | Note |
|---|---|---|
| Apr. 1 | $500M | First draw (April 14 Form 8-K) |
| July 6 | $800M | Form 8-K filed July 6 |
| Aug. 24 | $400M | Form 8-K filed Aug. 28 |
| Oct. 6 | $400M | Form 8-K filed Oct. 9 |
| Still unused | $400M | "Approximately $400 million of additional borrowing capacity remaining" (Oct. 9 Form 8-K) |
Sources: Lucid Forms 8-K filed April 14, July 6, Aug. 28 and Oct. 9, 2026. The unused amount is the Oct. 9 filing's "approximately $400 million."
Where the cash went
Lucid used $2.4 billion of cash running the business in the first half, against $1.3 billion a year earlier, its quarterly report shows.10-Q
Lucid's free cash flow by quarter, every one negativeShow chartHide chart
View the data
| Quarter | Free cash flow | Note |
|---|---|---|
| Q1 2025 | -$589.9M | Operating cash used $428.6M, capital spending $161.2M |
| Q2 2025 | -$1,012.9M | Operating cash used $830.2M, capital spending $182.7M |
| Q3 2025 | -$955.5M | Operating cash used $756.7M, capital spending $198.8M |
| Q4 2025 | -$1,241.8M | Operating cash used $916.4M, capital spending $325.4M |
| Q1 2026 | -$1,438.8M | Operating cash used $1,185.7M, capital spending $253.2M |
| Q2 2026 | -$1,476.1M | Operating cash used $1,222.2M, capital spending $253.8M |
Free cash flow is Lucid's own measure, reconciled in each release. Sources: Lucid quarterly results releases, Form 8-K Exhibit 99.1, Nov. 5, 2025 through Aug. 4, 2026; the second quarter of 2025 is from the Aug. 4, 2026 release.
In August, Lucid set out a plan to improve its cash flow by $1.4 billion this year, mostly from inventory and capital spending.8-K It said it had cut production on purpose, to lower inventory and free up cash.8-K In June it eliminated a second shift at its plant in Casa Grande, Arizona.8-K10-Q
In the third quarter it built 2,954 vehicles and delivered 3,806, selling down cars it already had.8-K In the second quarter it had built 4,774 and delivered 3,953.8-K
What comes due, and what analysts say
About $204.3 million of Lucid's convertible notes mature on Dec. 15.10-Q
In March, before Lucid's April financing, RBC Capital Markets analyst Tom Narayan said he was "most concerned about the company's liquidity situation," EV reported.EV In a note after Lucid's August results, Cantor Fitzgerald modeled its next capital raise in the third quarter of 2027, according to EV.EV Napoli has said "in '27, we are fine," and in August said the next raise would be done in a way that is "very positive for investors and shareholders," EV reported.EV
Lucid reports third-quarter results on Nov. 9.8-K Until then, its filings since June 30 report what it borrowed, $1.6 billion, but not how much cash it used.8-K8-K8-K
What to watch
Lucid's third-quarter results and call, the first look at its cash use since the savings plan began.
About $204.3 million of Lucid's 1.25% convertible notes mature.
The Saudi loan's final maturity.
The paper trail
Selected Lucid filings on the Saudi loan and its cash, Nov. 5, 2025 through Oct. 9, 2026, with the time EDGAR accepted each one (Eastern). Not every filing in that span.
| Filed (ET) | Form | Filer | What it shows |
|---|---|---|---|
| Nov. 5, 2025, 4:10 p.m. | 8-K | Lucid | Loan raised to about $2.0 billion from $750 million. Nothing drawn. |
| Apr. 14, 7:07 a.m. | 8-K | Lucid | $500 million drawn April 1; line raised to about $2.5 billion; minimum-liquidity covenant eliminated; $550 million preferred sale to the Saudi owner. |
| July 6, 4:08 p.m. | 8-K | Lucid | $800 million drawn. |
| Aug. 4, 4:07 p.m. | 8-K | Lucid | Second quarter: free cash flow $1.48 billion negative; $3.0 billion of liquidity; runway "well into 2027"; $1.4 billion savings plan. |
| Aug. 4, 4:19 p.m. | 10-Q | Lucid | $775.5 million of cash and investments at June 30; $1.98 billion of the loan undrawn; $204.3 million of notes due Dec. 15. |
| Aug. 28, 4:03 p.m. | 8-K | Lucid | $400 million drawn Aug. 24; $1.7 billion outstanding. |
| Oct. 5, 4:06 p.m. | 8-K | Lucid | Third quarter: 2,954 built, 3,806 delivered; results on Nov. 9. |
| Oct. 9, 4:03 p.m. | 8-K | Lucid | $400 million drawn Oct. 6; about $2.1 billion outstanding, about $400 million left. |
Sources
17 sources, 12 of them public records
Public records
- Lucid Group, Form 8-K (Item 2.03): $400 million loan drawSEC EDGAR · Oct. 9, 2026
- Lucid Group, Form 8-K (Items 2.03, 5.02, 7.01): $400 million loan drawSEC EDGAR · Aug. 28, 2026
- Lucid Group, Form 8-K (Item 2.03): $800 million loan drawSEC EDGAR · July 6, 2026
- Lucid Group, Form 8-K: private placements, Uber vehicle agreement, loan Amendment No. 2SEC EDGAR · April 14, 2026
- Lucid Group, Form 8-K: underwriting agreement with BofA SecuritiesSEC EDGAR · April 14, 2026
- Lucid Group, Form 8-K: loan Amendment No. 1 and third-quarter 2025 resultsSEC EDGAR · Nov. 5, 2025
- Lucid Group, Form 10-Q for the quarter ended June 30, 2026SEC EDGAR · Aug. 4, 2026
- Lucid Group, Form 8-K, Exhibit 99.1: second-quarter 2026 results and operational resetSEC EDGAR · Aug. 4, 2026
- Lucid Group, Form 8-K, Exhibit 99.1: first-quarter 2026 resultsSEC EDGAR · May 5, 2026
- Lucid Group, Form 8-K, Exhibit 99.1: fourth-quarter and full-year 2025 resultsSEC EDGAR · Feb. 24, 2026
- Lucid Group, Form 8-K, Exhibit 99.1: third-quarter 2025 resultsSEC EDGAR · Nov. 5, 2025
- Lucid Group, Form 8-K, Exhibit 99.1: third-quarter 2026 production and deliveriesSEC EDGAR · Oct. 5, 2026
Reporting
- "Lucid CEO vows next capital raise will be 'very positive' for investors" (on Napoli's CNBC interview)EV · Aug. 6, 2026
- "Lucid Draws Another $400M From PIF as Market Cap Drops Below $1.5B"EV · Oct. 10, 2026
- Report on Lucid shares after the Oct. 9 draw disclosure, including RBC analyst Tom Narayan's commentsEV · Oct. 12, 2026
Data
- End-of-day prices for LCID, and for SPY and QQQ on the chart (Tiingo)KeyVex · through Oct. 12, 2026
- The chart's Filings layer: KeyVex's Congress trade, insider trade, Form 144, 8-K and lobbying records for LCIDKeyVex · through Oct. 12, 2026
How we got these numbers
- Prices are end-of-day closes as traded, not adjusted for dividends, and adjusted for Lucid's 1-for-10 reverse split of September 2025: closes before Sept. 2, 2025 are multiplied by 10. The Oct. 12 close of $3.435 is 9.4% below the Oct. 9 close of $3.79 and 67.5% below the Dec. 31, 2025 close of $10.57. "Lowest close since Lucid listed" compares every close from July 26, 2021, Lucid's first day as LCID, through Oct. 12, 2026. The S&P 500 and Nasdaq 100 lines follow SPY and QQQ, also as traded, rebased to Lucid's close at the start of the range shown. The Filings switch shows the filing markers from KeyVex's Lucid stock page, a selection of congressional trades, insider trades, Form 144 notices, 8-Ks and lobbying filings: not every filing, and not only those tied to this story.
- Free cash flow is Lucid's own non-GAAP measure: net cash used in operating activities less capital expenditures, as reconciled in each quarterly release. The quarters are $589.9 million, $1,012.9 million, $955.5 million and $1,241.8 million out in 2025 (summing to the $3,800.1 million in the full-year release) and $1,438.8 million and $1,476.1 million in the first two quarters of 2026 (summing to the $2,914.9 million first-half figure). "About $1.5 billion a quarter" is their average, $1.46 billion, rounded.
- Liquidity at June 30, 2026 is Lucid's own figure: $775.5 million of cash, cash equivalents and investments, plus $1.98 billion unused on the Saudi loan, $270.4 million on its asset-based credit line and $2.3 million on a Gulf International Bank facility. The $1.6 billion drawn since June 30 is the sum of the July 6, Aug. 24 and Oct. 6 draws. Lucid has not yet reported its cash or liquidity at Sept. 30.
- The loan's size is given as about $2.5 billion in Lucid's April 14 Form 8-K and about $2.48 billion in its 10-Q; the draws total about $2.1 billion, and Lucid's Oct. 9 filing puts the unused part at about $400 million.