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]

Group 1: Company Performance - Luminar Technologies Inc. shares fell 1.57% in after-hours trading, closing at $0.95 after a 10.61% gain during regular hours to close at $0.97 [1] - The stock is down 86.06% over the past year, with a market capitalization of $75.53 million and a 52-week trading range of $0.78 to $10.40 [5] Group 2: Executive Transactions - CEO Paul Ricci had 69,431 Class A common shares withheld to satisfy tax withholding obligations related to vesting restricted stock units, with shares withheld at $0.9296 each [2] - Following the transaction, Ricci holds 1.80 million shares [3] Group 3: Industry Developments - Rivian CEO RJ Scaringe announced plans to integrate LiDAR technology into future R2 models starting in late 2026, highlighting the importance of LiDAR in the automotive industry [4] - Luminar supplies its LiDAR technology to major companies including Mercedes-Benz, NVIDIA, Caterpillar, and Intel's Mobileye [4]