Lucid Group dips after filing to sell up to $8B worth of securities
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Lucid Group (NASDAQ:LCID) filed to raise up to $8B in a new offering.
The universal shelf offering could give the electric vehicle maker working capital as it looks to ramp up production.
Under the terms of the offering, Lucid (LCID) may sell different types of securities in one or more separate offerings with the size, price and terms to be determined at the time of sale.
The capital raises could include common stock, preferred stock (including in the form of depositary shares), warrants, debt securities (including convertible debt), purchase contracts, and/or units (which are typically a combination of two or more types of securities).
Shares of Lucid Group (LCID) fell 3.09% premarket on Tuesday to $15.67 vs. the 52-week trading range of $13.25 to $57.75. 
Read the latest breakdowns on LCID from Seeking Alpha authors.