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    Director Public Investment Fund bought $1,026,524,108 worth of shares (396,188,386 units at $2.59) (SEC Form 4)

    11/4/24 6:00:20 AM ET
    $LCID
    Auto Manufacturing
    Consumer Discretionary
    Get the next $LCID alert in real time by email
    SEC FORM 4 SEC Form 4
    FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
    Washington, D.C. 20549

    STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

    Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
    or Section 30(h) of the Investment Company Act of 1940
    OMB APPROVAL
    OMB Number: 3235-0287
    Estimated average burden
    hours per response: 0.5
      
    Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
      
    Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
    1. Name and Address of Reporting Person*
    PUBLIC INVESTMENT FUND

    (Last) (First) (Middle)
    KING ABDULLAH FINANCIAL DISTRICT (KAFD)
    AL AQIQ DISTRICT

    (Street)
    RIYADH T0 13519

    (City) (State) (Zip)
    2. Issuer Name and Ticker or Trading Symbol
    Lucid Group, Inc. [ LCID ]
    5. Relationship of Reporting Person(s) to Issuer
    (Check all applicable)
    X Director X 10% Owner
    Officer (give title below) Other (specify below)
    3. Date of Earliest Transaction (Month/Day/Year)
    10/30/2024
    4. If Amendment, Date of Original Filed (Month/Day/Year)
    6. Individual or Joint/Group Filing (Check Applicable Line)
    Form filed by One Reporting Person
    X Form filed by More than One Reporting Person
    Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
    1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
    Code V Amount (A) or (D) Price
    Class A Common Stock 10/30/2024 P 374,717,927(1)(2)(3) A $2.591 2,205,602,291 I(4) By Ayar Third Investment Company
    Class A Common Stock 10/31/2024 P 21,470,459(1)(2)(3) A $2.591 2,227,072,750 I(4) By Ayar Third Investment Company
    Class A Common Stock 8,041,393 D
    Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
    (e.g., puts, calls, warrants, options, convertible securities)
    1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
    Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
    1. Name and Address of Reporting Person*
    PUBLIC INVESTMENT FUND

    (Last) (First) (Middle)
    KING ABDULLAH FINANCIAL DISTRICT (KAFD)
    AL AQIQ DISTRICT

    (Street)
    RIYADH T0 13519

    (City) (State) (Zip)

    Relationship of Reporting Person(s) to Issuer
    X Director X 10% Owner
    Officer (give title below) Other (specify below)
    1. Name and Address of Reporting Person*
    Ayar Third Investment Co

    (Last) (First) (Middle)
    P.O. BOX 6847

    (Street)
    RIYADH T0 11452

    (City) (State) (Zip)

    Relationship of Reporting Person(s) to Issuer
    X Director X 10% Owner
    Officer (give title below) Other (specify below)
    Explanation of Responses:
    1. On October 16, 2024, Lucid Group, Inc. (the "Issuer") announced it had priced an underwritten public offering of 262,446,931 shares of its Class A common stock for aggregate gross proceeds to the Issuer of approximately $680 million (the "Public Offering"). On October 17, 2024, the underwriter in the Public Offering exercised its overallotment option (the "Option") to purchase an additional 15,037,594 shares of common stock in the Public Offering.
    2. On October 30, 2024, Ayar Third Investment Company ("Ayar") purchased from the Issuer 374,717,927 shares of Issuer Class A common stock in a private placement for an aggregate purchase price of approximately $971 million in a private placement pursuant to a subscription agreement entered into concurrently with the Public Offering. On October 31, 2024, Ayar purchased from the Issuer an additional 21,470,459 shares of Common Stock for aggregate purchase price of approximately $56 million in a private placement in a private placement pursuant to the Subscription Agreement as a result of the underwriter's exercise of the Option.
    3. Includes 464,225,459 shares of Class A Common Stock issuable upon conversion of shares of Series A Convertible Preferred Stock and Series B Convertible Preferred Stock held by Ayar as of the date hereof.
    4. Ayar is a wholly-owned subsidiary of Public Investment Fund of Saudi Arabia ("PIF"), and as such PIF may be deemed to beneficially own the shares held by Ayar. In addition, each of Turqi A. Alnowaiser and Yasir Alsalman, co-managers of Ayar, may be deemed to beneficially own the shares owned by Ayar by virtue of shared power to vote the shares. Neither Mr. Alnowaiser nor Mr. Alsalman has any, and each and disclaims, any pecuniary interest in the shares.
    Remarks:
    PIF may be deemed a director by deputization, as Mr. Alnowaiser, an employee of PIF, serves as a representative of Ayar on the Board of Directors of the Issuer.
    Public Investment Fund, /s/ Yasir O. AlRumayyan, Governor 11/01/2024
    Ayar Third Investment Company, /s/ Turqi A. Alnowaiser, Co-Manager 11/01/2024
    ** Signature of Reporting Person Date
    Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
    * If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
    ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
    Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
    Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
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