Get the latest tech news
Luminar secures up to $200M following CEO departure and layoffs
Lidar company Luminar reached a deal with Yorkville Advisors Global and another unnamed investor that could bring another $200 million into its coffers
Lidar company Luminar reached a deal with Yorkville Advisors Global and another unnamed investor that could bring another $200 million into its coffers through the sale of convertible preferred stock over an 18-month period. Yorkville has offered these lifelines to other struggling publicly traded companies, a list that includes failed Lordstown Motors, Faraday Future, and the now bankrupt Canoo. Luminar, and Russell, became Silicon Valley darlings when the lidar startup broke cover in April 2017 after operating for years in secrecy and at the height of the autonomous vehicle technology hype cycle.
Or read this on TechCrunch
