Overview
- Luminar filed voluntary Chapter 11 in the Southern District of Texas to market and sell its LiDAR business and related assets.
- The company said roughly 91% of first‑lien noteholders and 86% of second‑lien noteholders support the restructuring path.
- Luminar agreed to sell Luminar Semiconductor to Quantum Computing for $110 million in cash as a stalking‑horse bid subject to higher offers and court approval, with LSI not a debtor in the cases.
- Operations are expected to continue during the proceedings using about $25 million of cash on hand, with deliveries to customers to be maintained.
- Bankruptcy filings show $100–500 million in assets versus $500 million–$1 billion in liabilities, and shares fell toward record lows after the announcement.