Luminar Technologies Announces $50 Million Debt Repurchase to Improve Capital Structure

Reuters05-23

Luminar Technologies Announces $50 Million Debt Repurchase to Improve Capital Structure

Luminar Technologies Inc., a leading global automotive technology company, has announced a strategic move to strengthen its financial standing by repurchasing $50 million of its 1.25% Convertible Senior Notes due in 2026. This action involves acquiring the notes through approximately $30 million in cash and the issuance of 1.1 million new common stock shares. The transaction, funded by the recent issuance of Series A Convertible Preferred Stock, reduces the outstanding principal amount of the 2026 convertible notes to approximately $135 million. This initiative reflects Luminar's ongoing efforts to improve its capital structure and ensure a robust financial position to support its business objectives. Tom Fennimore, Luminar's CFO, emphasized the company's commitment to reducing debt and enhancing liquidity to drive long-term value.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Luminar Technologies Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001628280-25-027435), on May 23, 2025, and is solely responsible for the information contained therein.

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