Lucid Group Inc on Monday filed for a mixed shelf offering of up to $8 billion as the electric-vehicle maker looks to beef up working capital at a time when supply snarls have crimped its production.The company, which has a market capitalization of about $27 billion, halved its production forecast for ele
Lucid Group Inc on Monday filed for a mixed shelf offering of up to $8 billion as the electric-vehicle maker looks to beef up working capital at a time when supply snarls have crimped its production.
The company, which has a market capitalization of about $27 billion, halved its production forecast for electric vehicles earlier this month, blaming supply chain and logistics challenges. Under a shelf registration, a company may sell securities in one or more separate offerings with the size, price and terms to be determined at the time of sale.California-based Lucid, which went public via a shell company in 2021, had secured the $4.4 billion it needed until the end of 2022 but would not wait until then to raise more cash, Chief Executive Peter Rawlinson told Reuters last year.
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