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Luminar Technologies (Nasdaq: LAZR; LAZRW) has extended the deadline for Public Warrants exercise from March 5, 2021, to March 16, 2021, to accommodate retail investors who faced notification issues. Approximately 99% of Public Warrants have been exercised, generating $154 million in gross proceeds. Unexercised warrants after the deadline will expire and holders will receive $0.01 each. The warrants were issued under an agreement effective January 31, 2019. Luminar continues to partner with major automotive firms to advance its lidar technology for autonomous vehicles.
Luminar Technologies (Nasdaq: LAZR; LAZRW) announced that holders of its 13,333,309 Public Warrants to purchase Class A common stock must exercise them by March 5, 2021. At $11.50 per share, this could yield approximately $153.3 million in proceeds. Luminar can redeem these warrants at $0.01 if the share price exceeds $18.00 for 20 trading days. Unexercised warrants will become void post-deadline. The warrants were issued in a January 2019 agreement. Luminar's stock performances and partnerships highlight its position in the autonomous vehicle industry.
