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Lucid Group, a leading electric vehicle manufacturer, will implement a 1-for-10 reverse stock split and reduce its authorized shares, effective August 29, 2025. This strategic move aims to adjust the company’s stock structure, with trading on a split-adjusted basis starting September 2, 2025.
Key Highlights
- Reverse Stock Split: Every 10 shares of Lucid’s common stock will convert to one share.
- Effective Date: The split takes effect at 5:00 p.m. ET on August 29, 2025.
- Trading Date: Split-adjusted trading begins September 2, 2025, under NASDAQ symbol LCID.
- Share Reduction: Outstanding shares will decrease from 3,072.6 million to 307.3 million.
- Authorized Shares: Reduced from 15 billion to 1.5 billion.
- No Fractional Shares: Cash payments will be issued for fractional shares.
- Exchange Agent: Equiniti Trust Company, LLC manages the process.
Details of the Reverse Stock Split
Lucid Group, Inc., known for producing advanced electric vehicles like the Lucid Air and Lucid Gravity, received approval from its Board of Directors and stockholders for the reverse stock split and authorized share reduction. The stockholder approval occurred during a special meeting on August 18, 2025. The reverse stock split will automatically reclassify every 10 shares of common stock into one share, significantly reducing the total number of outstanding shares. This adjustment aims to streamline the company’s capital structure while maintaining the stock’s par value.
The authorized share reduction aligns with the reverse split, lowering the total authorized shares from 15 billion to 1.5 billion. This proportional reduction ensures consistency in the company’s stock framework. Importantly, no fractional shares will be issued. Instead, shareholders entitled to fractional shares will receive a cash payment without interest, calculated based on the stock’s value at the time of the split.
Impact on Shareholders
Shareholders holding Lucid’s common stock through registered accounts will not need to take any action to receive their post-split shares. The process is automatic, managed by Equiniti Trust Company, LLC, the appointed exchange agent. For those holding shares through brokers, banks, or similar organizations, positions will be adjusted automatically to reflect the reverse stock split, subject to the specific procedures of each institution. Shareholders are advised to consult their brokers for details on how the adjustment will appear in their accounts.
The company’s common stock will continue trading on the NASDAQ under the symbol LCID, with a new CUSIP number, 549498 202, effective from the split-adjusted trading date. This change ensures seamless trading continuity for investors.
Accessing Additional Information
For comprehensive details on the reverse stock split and authorized share reduction, Lucid has made relevant documents available. The company’s definitive proxy statement, filed with the Securities and Exchange Commission (SEC) on July 28, 2025, and additional proxy materials filed on August 8, 2025, can be accessed free of charge. These documents are available on the SEC’s website at www.sec.gov and Lucid’s investor relations page at https://ir.lucidmotors.com.
About Lucid Group, Inc.
Headquartered in Silicon Valley, Lucid Group, Inc. is a technology-driven company focused on advancing electric vehicle innovation. Its flagship vehicles, the Lucid Air and the newly introduced Lucid Gravity, are celebrated for their cutting-edge performance, elegant design, spacious interiors, and exceptional energy efficiency. Manufactured at Lucid’s vertically integrated factory in Arizona, these vehicles set new benchmarks in the EV industry. Through continuous technological advancements, Lucid aims to redefine electric mobility for global consumers.
Strategic Importance of the Split
The reverse stock split and authorized share reduction reflect Lucid’s commitment to optimizing its financial structure. By reducing the number of outstanding shares, the company aims to enhance its stock’s market perception and appeal to a broader investor base. This move aligns with Lucid’s broader mission to maintain leadership in the competitive EV market while delivering value to shareholders.
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