Lucid Group to Conduct 1-for-10 Reverse Stock Split, Reduce Authorized Shares

Lucid Group will implement a 1-for-10 reverse stock split, reducing its authorized common shares from 15B to 1.5B. The split becomes effective on August 29, 2025, with adjusted trading starting on September 2, 2025.

Lucid Group, Inc. (NASDAQ: LCID), a leading technology company focused on advanced electric vehicles (EVs), has announced that its 1-for-10 reverse stock split will become effective on August 29, 2025. The reverse stock split, which was previously approved by the company's stockholders, will reduce the number of authorized common shares from 15 billion to 1.5 billion [1].

The reverse stock split, which will be executed at a 5:00 p.m. Eastern Time on August 29, 2025, will reclassify every 10 issued and outstanding shares of the common stock into one issued and outstanding share. This will reduce the number of shares outstanding from approximately 3,072.6 million to approximately 307.3 million, subject to adjustments for fractional shares [1].

The reverse stock split will not affect the par value of the common stock. No fractional shares will be issued in connection with the split. Instead, holders of common stock will receive a cash payment (without interest) in lieu of any fractional shares. Registered stockholders holding pre-split shares of the Company's common stock are not required to take any action to receive post-split shares. Stockholders owning shares via a broker, bank, trust, or other similar organization will have their positions automatically adjusted to reflect the reverse stock split [1].

The reverse stock split is expected to take effect at the opening of the market on September 2, 2025, with the new CUSIP number 549498 202. Additional information about the reverse stock split and authorized share reduction can be found in the company's definitive proxy statement filed with the Securities and Exchange Commission (SEC) on July 28, 2025, and definitive additional proxy materials filed with the SEC on August 8, 2025, available at the SEC's website and the company's investor relations website [1].

Lucid Group is based in Silicon Valley and is known for its award-winning Lucid Air and new Lucid Gravity vehicles, which deliver best-in-class performance, sophisticated design, expansive interior space, and unrivaled energy efficiency. The company assembles both vehicles in its state-of-the-art, vertically integrated factory in Arizona [2].

References:
[1] https://ir.lucidmotors.com/news-releases/news-release-details/lucid-group-inc-announces-effective-date-reverse-stock-split
[2] https://www.marketscreener.com/news/lucid-group-inc-announces-effective-date-of-reverse-stock-split-ce7c50dad88bf523