Saudi Public Investment Fund buys more shares of Lucid for $1.8B

In a regulatory filing, Lucid said that the Saudi Public Investment Fund bought 265,693,703 shares of the company’s stock in a private placement of common stock for an average price of $6.83 a share, representing an aggregate purchase price of approximately $1.8B. The purchase was made on June 22. Saudi’s PIF now owns about 65% of the common stock outstanding, up from about 60% before the purchase.