Lucid’s $1.75 Billion Convertible Senior Notes Offering

Simpson Thacher represented BofA Securities, Inc. and Citigroup Global Markets Inc. on the deal.

Lucid Group announced his offering of $1.75 billion aggregate principal amount of 1.25% Convertible Senior Notes due 2026, the initial purchasers are BofA Securities, Inc. and Citigroup Global Markets. The notes were offered to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended.

Lucid is a technology and automotive company founded in Silicon Valley in 2007 to develop the next generation of electric vehicle technologies. Lucid is a vertically-integrated company that focuses on in-house innovation and a “clean-sheet” approach to engineering and design.

The Simpson Thacher team included Bill Brentani (Picture), Roxane Reardon, Dan Webb, Karen Reyes and Paul Clatterbuck (Capital Markets); Russell Light and Michael Mann (Tax); Michael Isby (Environmental); Tristan Brown (Executive Compensation and Employee Benefits); Genevieve Dorment (Intellectual Property); Jeanne Annarumma (ERISA); and Jennie Getsin (Blue Sky).

Involved fees earner: Jeanne Annarumma – Simpson Thacher & Bartlett; William Brentani – Simpson Thacher & Bartlett; Tristan Brown – Simpson Thacher & Bartlett; William Paul Clatterbuck – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Russell Light – Simpson Thacher & Bartlett; Michael Mann – Simpson Thacher & Bartlett; Roxane Reardon – Simpson Thacher & Bartlett; Karen Reyes – Simpson Thacher & Bartlett; Daniel Webb – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: BofA Securities India Limited (DSP Merrill Lynch Limited); Citigroup Global Markets Ltd;

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Author: Youness Semri