Lucid Group, maker of the advanced electric vehicles, announced that it will proceed with a 1-for-10 reverse stock split of its shares of common stock and a corresponding reduction of its authorized shares of common stock.
Lucid 1-for-10 reverse stock split
Lucid Group has announced a 1-for-10 reverse stock split and authorized share reduction, effective August 29, 2025, with split-adjusted trading starting September 2, 2025, under the NASDAQ symbol LCID.
The Reverse Stock Split and Authorized Share Reduction were previously approved by the Company’s stockholders at a special meeting of stockholders held on August 18, 2025.
The Reverse Stock Split and Authorized Share Reduction are expected to be effective at 5:00 p.m., Eastern Time on August 29, 2025.
The Company’s common stock is expected to begin trading on a split-adjusted basis under the same symbol (LCID) when the market opens on September 2, 2025, with the new CUSIP number 549498 202.
As of the Effective Time, every 10 issued and outstanding shares of the common stock will be automatically reclassified into one issued and outstanding share of the Company’s common stock.
This will reduce the number of shares outstanding from approximately 3,072.6 million to approximately 307.3 million, subject to adjustment for fractional shares.
The number of authorized shares of common stock will be reduced from 15 billion to 1.5 billion to reflect the Reverse Stock Split.
Impact on Stock Price
The 1-for-10 reverse stock split announcement comes as the electric vehicle maker, currently valued at $6.44 billion, faces challenging market conditions with its stock down over 30% year-to-date and almost 50% in the last 12 months. The stock price of Lucid is around $2.13.
Lucid’s Reverse Stock Split appears to be an effort to make the company’s stock more accessible to institutional investors, as it is currently classified as a penny stock below the $5 mark.
Impact on Shareholders
The Reverse Stock Split will not affect the par value of the common stock. No fractional shares will be issued in connection with the Reverse Stock Split. Holders of common stock will receive a cash payment (without interest) in lieu of any fractional shares.
Equiniti Trust Company, LLC is acting as the exchange agent for the Reverse Stock Split. Registered stockholders holding pre-split shares of the Company’s common stock are not required to take any action to receive post-split shares.
Stockholders owning shares via a broker, bank, trust or other similar organization will have their positions automatically adjusted to reflect the Reverse Stock Split, subject to such organization’s particular processes, and will not be required to take any action in connection with the Reverse Stock Split.
Lucid Group
In July, Lucid Group and Uber Technologies announced a next-generation premium global robotaxi program created exclusively for the Uber ride-hailing platform.
The move will reduce Lucid’s outstanding shares from approximately 3.07 billion to about 307.3 million. Concurrently, the company will reduce its authorized shares from 15 billion to 1.5 billion. The par value of the common stock will remain unchanged.
Lucid reported second-quarter revenue of $259.4 million on deliveries of 3,309 vehicles. Lucid ended the second quarter with approximately $4.86 billion in total liquidity. The Company is also adjusting its production outlook for 2025 to 18,000 – 20,000 vehicles.