The timing and number of shares repurchased will depend on a variety of factors, including stock price, trading volume, and general business and market conditions. Under Luminar’s repurchase program, Luminar may purchase shares of Class A common stock on a discretionary basis from time to time through open market repurchases, privately negotiated transactions or other means, including through Rule 10b5-1 trading plans or through the use of other techniques such as accelerated share repurchases. Founded in 2012, Luminar employs approximately 400 with offices in Palo Alto, Orlando, Colorado Springs, Detroit, and Munich.Īdditional Information Regarding Purchase Program: Additional customer wins include SAIC, Daimler Truck AG, Intel’s Mobileye, Pony.ai and Airbus UpNext. In 2020, Luminar signed the industry’s first production deal for autonomous consumer vehicles with Volvo Cars, which now expects to make Luminar’s technology part of the standard safety package on their next generation electric SUV. Luminar has rapidly gained over 50 industry partners, including a majority of the top global automotive OEMs.
#LUMINAR ORLANDO SOFTWARE#
(Nasdaq: LAZR) is transforming automotive safety and autonomy by delivering lidar and associated software that meets the industry’s stringent performance, safety, and economic requirements. “We already had high conviction in Luminar and the potential to win when we took them public, and that has increased dramatically this past year.” “Austin has built the winning team, technology, product, strategy, and commercial deals to make the next automotive revolution a reality,” said Alec Gores, Founder and CEO of The Gores Group. The timing of purchases will be subject to compliance with federal securities laws and Luminar’s policies. In addition to the Company, certain Luminar board members and management, led by Founder and CEO Austin Russell, intend to purchase LAZR shares in the open market or as part of pre-arranged stock trading plans. Today, we’re putting our money where our mouth is by executing this significant purchase of shares as we accelerate our industry leadership.” “Given our current position and our trajectory, we think our stock price has not reflected the wins and successes we’ve had over the past year since our public debut, with substantial inefficiency in the market. “Over the past year, our breakthrough technology and commercial success have begun to usher in a new era of safety and autonomy for the industry on production consumer vehicles and trucks,” said Austin Russell, Luminar Founder and CEO. The company plans to use a portion of the proceeds from a proposed private financing transaction for the share repurchase. (Nasdaq: LAZR), with support of its CEO, board members, and management, today announced its authorization and intent to purchase $250 million or more of its Class A common stock, which is anticipated to commence today after market open. ORLANDO, Fla.-( BUSINESS WIRE)-Luminar Technologies, Inc.
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