Lucid says its stock sale will provide 'cash runway' well into 2026

DETROIT (Reuters) - Lucid (NASDAQ:LCID ) CEO Peter Rawlinson said on Monday that a stock sale announced last week will provide the electric luxury sedan maker with a "cash runway well into 2026."

Rawlinson said in an interview on the sidelines of a Reuters Next event that the stock sale, which raised about $1.67 billion, "serves to support the future of the company long term" as it prepares to begin building its Gravity SUV in the coming months.

Source: Investing.com