Luminar Transaction Upsized and Closed at $625 Million; Stock Buyback Plan Increased to Over $300 Million

ORLANDO, Fla.–(BUSINESS WIRE)–Luminar Technologies, Inc. (Nasdaq: LAZR) today announced the successful execution of its previously announced transaction, with the intent to purchase shares and accelerate growth. The deal was oversubscribed based on positive institutional investor support, and upsized to a total of $625 million in gross proceeds. Luminar expects to use over $300 million of the proceeds for LAZR share purchases, while the remaining capital will bolster Luminar’s balance sheet.

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