According to SEC official documents, Churchill Sponsor IV LLC added 44.35 Million Lucid shares increasing its stake to 5.7%. has filed an SC 13G/A form with the SEC disclosing ownership of 96,100,000 shares of Lucid Group. This represents 5.7% ownership of the company. In their previous filing dated 2021-02-16 , reported owning 51,750,000 shares, indicating an increase of 85.70%. Check SEC’s document here.
Before the IPO back in July 2021, Lucid was a privately held business known as Atieva. In July merged with Churchill Capital Corp. IV, a “special purpose acquisition company” (SPAC) backed by former Citigroup Inc. investment banking chief Michael Klein.
The Public Investment Fund, from Saudi Arabia, Lucid’s largest holder, has a total estimated assets of $500 billion. It was created in 1971 for the purpose of investing funds on behalf of the government of Saudi Arabia. Currently, the Fund has 1,015,252,523 shares of Lucid Group, valued at $27.86 Billion.
Lucid announced today that will host a conference call to discuss its fourth quarter and fiscal year 2021 financial results on Monday, February 28, 2022, at 2:30 pm PT / 5:30 pm ET. Prior to the conference call, the company will issue an earnings press release with a link to the live webcast on its investor relations website, ir.lucidmotors.com.
To enhance engagement with the company’s shareholder base and facilitate connections with its investors, Lucid is partnering with Say Technologies to allow retail and institutional shareholders to submit and upvote questions, a selection of which will be answered by Lucid management during the earnings call. Starting on February 21 at 2:30 pm PT / 5:30 pm ET, all shareholders can submit questions by visiting: https://app.saytechnologies.com/lucid-2021-q4/. This Q&A platform will remain open until 24 hours before the start of the earnings call. Shareholders can email support@saytechnologies.com for any support inquiries.
Recently, Lucid announced the official opening of its newest Studio location at Fashion Island in Newport Beach, CA. The company recently opened service centers in key markets including Costa Mesa, CA; Chicago, IL; and Houston, TX. This location, the 21st in a growing network of Lucid Studios and service centers, further expands Lucid’s presence in Southern California and throughout the country.
“Our latest series of openings help us further one of our core principles: delivering an ownership experience of the highest standard. We will continue to expand our physical presence in 2022 in order to introduce as many people as possible to the most advanced luxury EV in the world – all the while providing them with an unmatched customer experience.”
Zak Edson, Vice President of Sales and Service of Lucid
For 2022, Lucid targets deliveries of around 20,000 vehicles – up by a lot versus 2021, but still a relatively small number compared to many other EVs. The company laid out an ambitious ramp-up on the IPO, estimating vehicle deliveries growing from 20,000 in 2022 to 251,000 in 2026 – with a revenue of $22.7 billion by then.