What's Going On With Lucid Stock Thursday?

Lucid Group Inc (NASDAQ:LCID) shares are trading lower Thursday morning after the company announced the pricing of an offering and corresponding investment from an affiliate of the Public Investment Fund (PIF).

What To Know: Lucid shares turned sharply lower in extended trading Wednesday after the company said it commenced a public offering of 262,446,931 shares of its common stock. Lucid priced the offering Thursday morning, noting that it anticipates gross proceeds of approximately $1.67 billion.

In connection with the offering, Lucid announced that majority shareholder and PIF affiliate Ayar Third Investment Company agreed to purchase ...