| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | LCID | Series B Convertible Preferred Stock | Purchase | $750M | +75K | $10,000.00* | 75K | Aug 16, 2024 | Class A Common Stock | 171M | By Ayar Third Investment Company | F1, F2, F3 |
| Id | Content |
|---|---|
| F1 | Each share of Series B convertible preferred stock is convertible into shares of Class A common stock of Lucid Group, Inc. (the "Issuer") at the option of the holder and without the payment of additional consideration by the holder, (a) at any time that the closing price per share of the Class A common stock on the trading day immediately preceding the date on which the holder delivers the relevant notice of conversion is at least $5.50 (subject to certain adjustments), unless the Issuer otherwise consents to such conversion in its sole discretion, or (b) in all events during certain specified periods relating to a fundamental change or optional redemption by the Issuer, into such number of fully paid and non-assessable shares of Class A common stock as is determined by dividing |
| F2 | (i) the applicable Accrued Value (as defined in the Certificate of Designation for the Series B convertible preferred stock) as of the conversion date by (ii) the applicable Conversion Price (as defined in the Certificate of Designation for the Series B convertible preferred stock) in effect as of such conversion date. The Series B convertible preferred stock is initially convertible into approximately 171,236,786 shares of Class A common stock in the aggregate, at an initial conversion price of $3.5952 per share. |
| F3 | Ayar Third Investment Company ("Ayar") is a wholly-owned subsidiary of The 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 Mr. Yasir Alsalman, the 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. |
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.