Core Viewpoint - Luminar Technologies, Inc. has initiated voluntary chapter 11 bankruptcy proceedings to facilitate a value-maximizing sale of its LiDAR business and its subsidiary Luminar Semiconductors, Inc. [1][5] Group 1: Chapter 11 Filing Details - The company has the support of approximately 91.3% of its first lien noteholders and about 85.9% of its second lien noteholders for the chapter 11 filing [1] - Luminar has entered into an agreement with Quantum Computing Inc. for the sale of LSI equity for cash consideration of $110 million, subject to better offers [2] - The Ad Hoc Group has consented to the use of approximately $25 million of cash on hand to fund the chapter 11 cases and support operations [3] Group 2: Operational Continuity - During the chapter 11 process, Luminar plans to continue its operations and maintain relationships with suppliers and partners to minimize disruptions [4] - The company has filed customary "First Day Motions" to ensure continued payment of employee wages, customer commitments, and vendor obligations incurred post-filing [4] Group 3: Sale Process and Timeline - Luminar has filed a motion to conduct sale processes for LSI equity and the LiDAR business under section 363 of the U.S. Bankruptcy Code, aiming for completion by the end of January 2026 [5]