Uber discloses 11.52% stake in Lucid following expanded pact

Uber (UBER) disclosed an 11.52% passive stake in Lucid (LCID), which represents over 37.75M shares. As part of Lucid’s $300M capital raise on April 14, Uber increased its purchase commitment to at least 35,000 Lucid vehicles designed exclusively for use as part of Uber’s future global robotaxi service. Uber has also committed to an additional $200M investment in Lucid, raising Uber’s total investments to $500M to date. Shares of Lucid are up 9c to $6.84 in after-hours trading.