Luminar Technologies Announces $200 Million Equity Offering

Luminar Technologies, a global automotive technology company, has announced a definitive agreement with YA II PN, Ltd. and another accredited investor to issue up to $200 million in convertible preferred stock. This transaction, facilitated by D. Boral Capital LLC, provides Luminar with increased financial flexibility.

Under the agreement, Luminar has issued $35 million of convertible preferred stock at the initial closing, with possibilities for future issuances. The purchasers will receive a 96% purchase price of the stock's stated value. The proceeds from the initial issuance are designated for corporate purposes and debt retirement.

The convertible stock's terms include conversion options into Class A common stock and rank it junior to existing debt. Details of the transaction are available in a Form 8-K filed with the SEC. This offering is not a public offer or sale of securities.