Gores is buying in at an enterprise value of $4 billion, more than a 30% discount to the team's value of $5.83 billion, according to CNBC's 2024 rankings.
Lucid shares tumble following a public offering of nearly 262.5 million shares
Lucid intends to use the proceeds "for general corporate purposes, which may include, among other things, capital expenditures and working capital."