Lucid Group, Inc. (LCID) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 05, 2026

Risk Assessment Details

Potential Dilution: 75.3% of current shares
Recent Dilution: 59.9% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
390M
Potential Supply
290M
Additional shares possible
Splits
1 Split 1 Reverse
Past 2 years

Summary

LCID currently has 390M outstanding shares. with significant dilution risk as 294M authorized shares could dilute existing holders by 75.3%. The company has significantly diluted shareholders by 59.9% over the past 2 years, indicating aggressive capital raising. Recent corporate actions include 1 stock split (positive for accessibility) and 1 reverse split (concerning signal).

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 05, 2026

10-Q filing | 390.3M shares outstanding

390M 290M
Apr 29, 2026

8-K filing: Lucid Group, Inc. completed a private placement with Ayar Third Investment Company on April 28, 2026, involving the sale of 55,000 shares of Series C Convertible Preferred Stock for $550,000,000. ($550.0M proceeds)

310M 290M
Nov 17, 2025

8-K filing: Lucid Group, Inc. completed a private offering of $975,000,000 aggregate principal amount of its 7.00% Convertible Senior Notes due 2031 and used a portion of the proceeds to repurchase $755.7 million in aggregate principal amount of its 1.25% Convertible Senior Notes due 2026. ($962.4M proceeds)

310M 290M
Aug 29, 2025
Stock Split

8-K filing: Stock split 1-for-10 | Outstanding: 3,057,882,724 → 307,300,000

310M 290M
Aug 05, 2025

10-Q filing | 3057.9M shares outstanding

3.1B 2.9B
May 06, 2025

10-Q filing | 3036.3M shares outstanding

3B 2.9B
Apr 08, 2025

8-K filing: Lucid Group completed a private offering of $1,100,000,000 aggregate principal amount of 5.00% Convertible Senior Notes due 2030 and used a portion of the proceeds to repurchase approximately $1,052.5 million in aggregate principal amount of its 1.25% Convertible Senior Notes due 2026.

3B 2.9B
Feb 25, 2025

8-K filing: Lucid Group registered for resale up to 297,567,387 shares of its Class A Common Stock, which may be issued upon conversion of Series A Convertible Preferred Stock, and 177,103,144 shares of Common Stock, which may be issued upon conversion of the Series B Convertible Preferred Stock.

3B 2.9B
Feb 25, 2025

10-K filing | 3031.5M shares outstanding

3B 2.9B
Nov 07, 2024

10-Q filing | 3011.7M shares outstanding

3B 2.9B
Oct 18, 2024

8-K filing: The company entered into an underwriting agreement to issue and sell 262,446,931 shares of common stock for approximately $680 million and granted the underwriter an option to purchase up to 39,367,040 additional shares. The underwriter exercised the option to purchase an additional 15,037,594 shares. ($680.0M proceeds)

2.3B 2.9B
Aug 19, 2024

8-K filing: Lucid Group, Inc. sold 75,000 shares of Series B Convertible Preferred Stock to Ayar Third Investment Company for $750,000,000 in a private placement on August 16, 2024. ($750.0M proceeds)

2.3B 2.9B
Aug 05, 2024

8-K filing: Lucid Group, Inc. entered into a subscription agreement with Ayar Third Investment Company to sell 75,000 shares of Series B Convertible Preferred Stock for an aggregate purchase price of $750,000,000 in a private placement, convertible into approximately 171.24 million shares of Common Stock at an initial conversion price of $4.3799 per share. ($750.0M proceeds)

2.3B 2.9B
Aug 05, 2024

10-Q filing | 2310.4M shares outstanding

2.3B 2.9B
May 06, 2024

10-Q filing | 2301.9M shares outstanding

2.3B 2.9B
Mar 29, 2024

8-K filing: Lucid Group, Inc. sold 100,000 shares of Series A Convertible Preferred Stock to Ayar Third Investment Company for an aggregate purchase price of $1,000,000,000 in a private placement. ($1000.0M proceeds)

2.1B 2.9B
Mar 25, 2024

8-K filing: Lucid Group, Inc. entered into a subscription agreement with Ayar Third Investment Company, an affiliate of the Public Investment Fund, for the private placement of 100,000 shares of Series A Convertible Preferred Stock at an aggregate purchase price of $1,000,000,000.00, convertible into approximately 278.15 million shares of Common Stock at an initial conversion price of $3.5952 per share. ($1000.0M proceeds)

2.1B 2.9B
Feb 27, 2024

10-K filing | 2081.8M shares outstanding

2.1B 2.9B
Nov 07, 2023

S-3 filing: This is an S-3 filing for the resale of 265,693,703 shares of common stock by the Selling Stockholder.

2.3B 2.9B
Nov 07, 2023

10-Q filing | 2284.4M shares outstanding

2.3B 2.9B
Nov 07, 2023

8-K filing: Lucid provided Aston Martin access to its technology in exchange for shares and cash payment. ($33.0M proceeds)

2.3B 2.9B
Aug 07, 2023

10-Q filing | 2282.7M shares outstanding

2.3B 2.7B
Jun 05, 2023

8-K filing: Lucid Group, Inc. entered into a subscription agreement with Ayar Third Investment Company for the private placement of 265,693,703 shares of Class A common stock, and also entered into an underwriting agreement for the issuance and sale of 173,544,948 shares of common stock. ($3000.0M proceeds)

1.8B 2.7B
May 08, 2023

S-3 filing: This is an S-3 filing to register the offer, issuance and sale by Lucid Group, Inc. of up to $7,400,017,750 in the aggregate of securities, the issuance of up to 44,350,000 shares of Class A common stock upon exercise of warrants, and the offer and resale of up to 1,161,947,946 shares of common stock and 7,221,921 warrants by the selling securityholders.

1.7B 2.7B
May 08, 2023

10-Q filing | 1831.7M shares outstanding

1.8B 2.7B
Feb 28, 2023

10-K filing | 1693.3M shares outstanding

1.7B 1.5B
Nov 08, 2022

10-Q filing | 1676.0M shares outstanding

1.7B 1.5B
Aug 29, 2022

S-3 filing: This is an S-3 filing for Lucid Group, Inc. to register the offer and sale of up to $8,000,000,000 in securities, the issuance of up to 44,350,000 shares of Class A common stock upon exercise of warrants, and the offer and resale of up to 1,189,450,445 shares of common stock and 44,350,000 warrants by selling securityholders.

1.7B 1.5B
Aug 03, 2022

10-Q filing | 1669.3M shares outstanding

1.7B 180M
May 05, 2022

10-Q filing | 1654.3M shares outstanding

1.7B 180M
Apr 28, 2022

POS AM filing: This POS AM filing relates to the offer and sale of up to 1,195,006,622 shares of Class A common stock and up to 44,350,000 warrants to purchase Class A common stock by selling securityholders, as well as the issuance of up to 44,350,000 shares of Class A common stock upon exercise of warrants.

1.7B 180M
Feb 28, 2022

10-K filing | 1653.3M shares outstanding

1.7B 1.6B
Dec 14, 2021

8-K filing: Lucid Group, Inc. issued $1,750,000,000 principal amount of its 1.25% Convertible Senior Notes due 2026, with an option for the initial purchasers to purchase up to an additional $262,500,000 principal amount of Notes, potentially resulting in the issuance of up to 55,106,677 shares of common stock upon conversion.

1.6B 1.6B
Nov 15, 2021

10-Q filing | 1646.4M shares outstanding

1.6B 1.6B
Oct 08, 2021

8-K filing: Lucid Group, Inc. repurchased 857,825 shares of its Class A Common Stock from certain directors and employees of Atieva, Inc. at a price of $24.15 per share to allow the Individual Sellers to satisfy certain tax obligations.

52M 1.6B
Aug 20, 2021

S-1/A filing: This is an S-1/A filing for the issuance of up to 85,750,000 shares of common stock upon exercise of warrants, the offer and sale of up to 1,336,329,949 shares of common stock by selling securityholders, and the offer and sale of 44,350,000 warrants by selling securityholders.

52M 1.6B
Aug 16, 2021

10-Q filing | 51.8M shares outstanding

52M 180M
Aug 02, 2021

S-1 filing: This S-1 filing pertains to the determination of the offering price for shares of Class A common stock underlying warrants, with an exercise price of $11.50 per share. It also mentions the registration of shares under the Incentive Plan and assumed Lucid Options on Form S-8.

1.6B 180M
Jul 26, 2021

8-K filing: Lucid Group, Inc. issued 166,666,667 shares of its Common Stock for aggregate gross proceeds of $2,500,000,005 and there are currently 1,618,621,534 shares of Common Stock issued and outstanding. ($2500.0M proceeds)

1.6B 180M
Jun 01, 2021

10-Q filing | 207.0M shares outstanding

210M 180M
Mar 16, 2021

10-K filing | 207.0M shares outstanding

210M 180M
Nov 09, 2020

10-Q filing | 207.0M shares outstanding

210M 180M
Sep 11, 2020

10-Q filing | 207.0M shares outstanding

210M 180M
Jul 27, 2020

S-1/A filing: Churchill Capital Corp IV is offering 150,000,000 Units at $10 per unit for a total of $1,500,000,000.

29M 180M
Jul 27, 2020

S-1/A filing: This is an S-1/A filing detailing other expenses of issuance and distribution, as well as indemnification of directors and officers.

29M 180M
Jul 14, 2020

S-1 filing: Churchill Capital Corp IV is a blank check company offering units consisting of Class A common stock and warrants for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination.

29M 120M
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