Russell also commented on the transaction, saying… Luminar is well-positioned to dominate the autonomous landscape, and, together, we look forward to shaping the future of automotive transportation. We are excited to partner with a visionary founder like Austin, who has developed from scratch the only lidar technology that meets the most stringent OEM specification requirements for safety and performance.
Luminar represents a rare opportunity to invest in the leading player in autonomous driving technology for cars and trucks. In Luminar Technologies’ press release, Gores stated… It raised $375 million in its January 2019 IPO by offering 37.5 million shares at a $10 offer price.
Gores Metropoulos is its fourth SPAC since 2016. Alec Gores founded the global investment firm in 1987. Gores Metropoulos is an affiliate of the Gores Group. And in this case, Gores Metropoulos is the SPAC and Luminar Technologies is the acquired company.
#Luminar ipo valuation free
To learn more about SPAC IPOs, feel free to check out that link. Then the SPAC uses the funds to acquire a company, resulting in a new public company. It’s a company with no operating business and raises capital in a public offering. A SPAC is a special purpose acquisition company. They’re a faster and usually cheaper method of going public than the traditional IPO process. And like many others investors saw this year, the company chose to offer Luminar Technologies stock through a SPAC IPO. The Luminar Technologies IPO brings another company that’s promising it’s a part of the future of the auto industry.
#Luminar ipo valuation series
As a global leader in lidar autonomous driving technology, we are enabling the world’s first autonomous solutions for automotive series production in passenger cars and commercial trucks. Luminar’s vision is to make autonomous transportation safe and ubiquitous. Lidar is the use of lasers to measure distance and is a key component in almost all autonomous driving projects. Luminar is a global leader in lidar autonomous driving technology. Russell was a Thiel fellow, meaning he received $100,000 over a two-year period to drop out of Stanford University and pursue his idea. And investors want to invest in the future.īut is Luminar Technologies stock a good investment opportunity? Here’s what we know… Luminar Technologies IPO: the BusinessĬEO Austin Russell founded Luminar Technologies in 2012. It provides advanced technology for autonomous driving vehicles. The company operated in stealth until 2017, when it revealed its product.
The Luminar Technologies IPO had investors waiting in anticipation.
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