Lucid Files SEC Proxy to Kickstart Bold Reverse Stock Split Plan

NEWARK, Calif., July 17, 2025 – Lucid Group, Inc. (NASDAQ: LCID), the luxury EV manufacturer behind the Lucid Air and upcoming Lucid Gravity, has announced it has filed a preliminary proxy statement with the U.S. Securities and Exchange Commission (SEC) to propose a 1-for-10 reverse stock split of its Class A common stock.

The move would consolidate every 10 existing shares into 1 share, effectively reducing the number of outstanding shares but not altering shareholder voting power or ownership percentage, except where fractional shares are involved, which would be paid in cash.

Purpose of the Reverse Stock Split

According to the company’s filing, the primary aim is to increase Lucid’s per-share stock price and make its stock more appealing to institutional investors and other market participants. The company believes this strategic move could enhance liquidity and stability in the market.

The proposal will be voted on at a special stockholders’ meeting, with approval requiring a majority of votes cast.

“The Board believes the reverse split could broaden the appeal of Lucid’s stock to a wider investor audience,” the company said in its announcement.

What Comes Next?

A definitive proxy statement will be mailed to shareholders once cleared by the SEC. Completion of the reverse split will still be subject to market conditions and shareholder approval. The Board retains the right to cancel the plan at any time if it is deemed not to be in the best interest of the company.

Lucid has not yet set a date for the special meeting.

About Lucid

Lucid (NASDAQ: LCID), headquartered in Silicon Valley, is a leading innovator in electric vehicle technology. Its flagship vehicle, the Lucid Air, and its upcoming SUV, the Lucid Gravity, are assembled in the company’s vertically integrated factory in Arizona. Known for their cutting-edge engineering, performance, and design, Lucid vehicles aim to push the boundaries of what EVs can do.

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