Lucid Implements 1-for-10 Reverse Stock Split

NEWARK, Calif., Aug. 21, 2025 /PRNewswire/ — Lucid Group, Inc. announced today that it will carry out a 1-for-10 reverse stock split of its common stock. This decision follows approval from both its Board of Directors and shareholders during a special meeting held on August 18, 2025.

The reverse stock split will take effect at 5:00 p.m. Eastern Time on August 29, 2025. Trading will resume on a split-adjusted basis under the same symbol, LCID, when the market opens on September 2, 2025. After the split, the number of outstanding shares will decrease from approximately 3.07 billion to about 307.3 million.

As part of this measure, the number of authorized shares will also drop from 15 billion to 1.5 billion. The par value of the common stock will remain unchanged, and no fractional shares will be issued. Shares that result in fractions will be compensated with cash payments to the holders.

Equiniti Trust Company, LLC will serve as the exchange agent for the reverse stock split. Registered stockholders will not need to take action to receive their new shares. Those holding shares through intermediaries like brokers or banks will see their positions adjusted automatically.

Additional details regarding this process can be found in the definitive proxy statement the company filed with the Securities and Exchange Commission (SEC) on July 28, 2025.

Lucid Group, based in Silicon Valley, is known for producing premium electric vehicles, including the award-winning Lucid Air and the new Lucid Gravity. The company maintains its manufacturing operations in a state-of-the-art factory located in Arizona.