Luminar Technologies Announces Tender Offer for Senior Notes Using $89.4 Million from Subsidiary Sale
Luminar Technologies Inc. is initiating a tender offer to buy back its Floating Rate Senior Secured Notes due 2028, utilizing $89.4 million from the sale of Luminar Semiconductor Inc. The offer will purchase notes at 103% of their principal amount plus accrued interest, as required under the notes' indenture due to excess proceeds exceeding $3.5 million. The offer expires on March 9, 2026, and will be executed on a pro rata basis if total tendered notes exceed the offer amount.
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Luminar Technologies Inc. is launching a tender offer to purchase its outstanding Floating Rate Senior Secured Notes due 2028, funded by $89.4 million from the sale of Luminar Semiconductor Inc. The purchase price will be 103% of the principal amount plus accrued interest.
This tender offer is necessitated by the indenture terms, which require a buyback when excess proceeds surpass $3.5 million. The offer will close on March 9, 2026, at 5:00 p.m. New York time.
If tenders exceed the offer amount, purchases will occur on a pro rata basis. Otherwise, remaining funds will be allocated to a separate offer for second lien notes.
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