Luminar Technologies announced on May 22, 2025, that it has repurchased $50 million in aggregate principal amount of its 1.25% Convertible Senior Notes due 2026. These transactions were conducted through separate, individually negotiated private agreements with certain noteholders.
The repurchase was executed for approximately $30 million in cash and 1.1 million newly issued shares of common stock. The cash portion of the repurchase was funded by the proceeds from the initial issuance of Series A Convertible Preferred Stock, which was announced on May 21, 2025.
Following these transactions, approximately $135 million in aggregate principal amount of the 2026 convertible notes remain outstanding. This move significantly reduces Luminar's near-term debt obligations and improves its capital structure, demonstrating a commitment to extending its liquidity runway and strengthening its financial position.
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