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Luminar Listing On Nasdaq Via SPAC Merger To Fund Its Laser Lidar Vision

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Luminar, a fast-growing maker of laser lidar sensors that help self-driving cars see the world, intends to list shares on Nasdaq by merging with a SPAC that raises cash and boosts the startup’s market cap to an estimated $3.4 billion

“This milestone is pivotal not just for us, but also for the larger automotive industry,” Luminar CEO Russell said. “We are making our next industry leap through our new long-term partnership with Gores Metropoulos, a team that has deep experience in technology and automotive and shares our vision of a safe autonomous future powered by Luminar.”, a maker of hydrogen- and battery-powered trucks, rival lidar sensor maker Velodyne, Los Angeles-based EV startups Fisker Inc.

Russell currently owns “Luminar founders preferred stock and Luminar common stock representing approximately 38% of the voting power of Luminar capital stock,” according to anLidar’s ability to instantly create detailed 3D, point-cloud maps of a vehicle’s surroundings in daylight or darkness has made it essential technology for virtually every company working to perfect safe autonomous driving, with the notable exception of...

 

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No point in having all these sensors if the bloke behind the wheel looks like someone you wouldn't trust to get you safely out of a supermarket carpark. Can I suggest you rephotograph this and have him tied up in the boot?

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