Lucid secures 5% Saudi investment after turbulent month

Lucid Motors confirmed that Prince Alwaleed bin Talal bin Abdulaziz Al Saud acquired a 5% stake in the company by purchasing 19.5 million Class A shares on July 23. This investment came shortly after Lucid's stock dropped amid rumors of potential bankruptcy or privatization with Saudi Arabia's Public Investment Fund, which Lucid officially denied. The prince's stake now holds sole voting and dispositive power, valued at approximately $127 million based on current closing prices. Despite the denial, Lucid is undergoing significant restructuring, including workforce reductions and hiring AlixPar

• Prince Alwaleed bought 19.5 million Class A shares on July 23
• The 5% stake is worth about $127 million
• Lucid denied bankruptcy and privatization rumors involving PIF

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