BUZZ-Lucid slumps on stock sale, forecast of larger-than-expected Q3 loss

Updates

** EV maker Lucid's LCID.O shares down ~14% at $2.83

** Company announces combined public offering and private placement for total proceeds of about $1.67 bln

** Alongside public offering of more than 262 mln shares, company's majority stockholder and affiliate of Saudi Arabia's Public Investment Fund, Ayar Third Investment, agreed to purchase over 374 mln shares in private placement

** Stock fell as much as 16% to $2.74 early Thursday, lowest since July 2

** Company said on Wednesday it expects Q3 loss from operations between $765 mln and $790 mln vs est of a loss of $751.7 mln - LSEG

** Including session's moves, LCID shares down ~33% YTD

(Reporting by Zaheer Kachwala in Bengaluru; Additional reporting by Lance Tupper)

((Zaheer.Kachwala@thomsonreuters.com))