Luminar Technologies announced on May 20, 2025, that it has entered into a definitive agreement to issue up to $200 million of convertible preferred stock. The agreement is with YA II PN, Ltd., an investment fund managed by Yorkville Advisors Global, and another accredited investor, with issuances occurring over an 18-month period.
An initial closing of $35 million in convertible preferred stock will be issued, with subsequent tranches of up to $35 million available not more than every 60 days. The proceeds from the initial issuance are designated for general corporate purposes and debt retirement, providing immediate financial flexibility.
This capital commitment is expected to strengthen Luminar's balance sheet and extend its liquidity runway, which is critical for the company as it continues to invest in product development and scale its operations. The financing provides a crucial tool for Luminar to realize its long-term value amidst its ongoing strategic initiatives.
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