Luminar secures up to $200M following CEO departure and layoffs

LiDar, Luminar, Yorkville consultants gained a transaction with a global and another anonymous investor, the other will be able to award $ 200 million from the sale of the converted preference in 18 months. The agreement that is declared in the regulatory document Wednesday, leadership and withdrawals are followed by a sharp change.

At the beginning of this month, Luminar’s board founder Changed Austin Russell As CEO and Plate Chair. Luminar’s board appointed Paul Ricci. Ricci is the former chairman and director of the past. The company has also launched Another round of the floors – One third since the spring of 2024.

According to the terms, Luminar will earn $ 35 million in the probable reserve, which can become investors. LUMINAR can provide more than $ 35 million in addition to $ 35 million in a purchase price of 96% of the specified value of changed shares. However, Luminar is not under the obligation to leave an additional share.

“Today’s operation provides us with additional financial convenience and strengthens our balance sheet,” he said

The company is expected to be used to retire overall corporate goals and debt of issue of $ 25 million.

Yorkville suggested that these lives are a failed list of companies that trade up to other struggle Lordstown engines, Faraday will comeAnd now bankruptcy kanoo.

Luminar was founded by Rusell when in 2012 was only a teenager. Luminar and Russell became the courage of Silicon Valley when he cut the beginning of the beginning of LiDAR In April 2017 After years, privacy and autonomous vehicle technology are working in the height of the semen period.

In 2021, Luminar, the price of a later transaction was connected with GORES Metropoulos Inc. worth $ 3.4 billion. Today, the market cover of Luminar has $ 179 million. Luminar earned $ 250 million before the SPAC announcement.

Luminar won several times, and at the same time reconstructed several times. Luminar decreased about 30% of the workforce in 2024 with two laps. In the first quarter of some work, he was poured on the first quarter of 2025. A total of 212 workers were shot.

At the beginning of this month, it said that in an arrangement document, this has launched additional work on May 15. These new jobs are expected to spend $ 5 million for $ 4 million. These costs are expected to be withdrawn in the second and third quarters of this year.