Luminar Technologies Reduces Debt with Note Exchange
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Luminar Technologies (LAZR) announced a private exchange of $18.2 million of its 1.25% Convertible Senior Notes due 2026 for newly issued Class A common stock and cash for accrued interest. This transaction, set to settle in four tranches starting March 25, 2025, will reduce the company's outstanding notes to $184.9 million, impacting its financial structure. Luminar focuses on advanced sensor technologies for autonomous vehicles. Current market cap is $278M with a year-to-date price performance of 35.99%.
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