Lucid Group Inc., a leading electric vehicle manufacturer, has filed a preliminary proxy statement with the SEC to propose a reverse stock split of its Class A common stock at a 1:10 ratio. This move aims to make Lucid's stock more appealing to a wider range of investors. The proposal requires approval from a majority of stockholders, and its completion is subject to market and customary conditions. The company also noted that there are no guarantees that the reverse stock split will lead to an increased per share price or achieve its intended effects.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Lucid Group Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: SF32351) on July 17, 2025, and is solely responsible for the information contained therein.