The Firm recently represented BofA Securities, Inc. and Citigroup Global Markets Inc. as representatives of the initial purchasers in connection with Lucid Group, Inc.’s (“Lucid”) offering of $1.75 billion aggregate principal amount of 1.25% Convertible Senior Notes due 2026. 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, 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).