LCID is trading 4.6% down at $6.35 after announcing an $800 million draw from its delayed-draw term loan facility with Ayar Third Investment Company, an affiliate of Saudi Arabia’s Public Investment Fund.
- The move provides a significant liquidity boost but increases the company's total debt obligations.
- Traders are reassessing Lucid’s capital requirements and its reliance on external financing amid a challenging demand environment for electric vehicles.