Live Updates > Live Update Details
2025-12-16 09:40:03
[US LiDAR Manufacturer Luminar Files for Bankruptcy] 1. On December 15th local time, US LiDAR manufacturer Luminar announced that it has voluntarily filed for Chapter 11 bankruptcy protection proceedings in the Southern District of Texas Bankruptcy Court. The company plans to dispose of its core LiDAR business (LiDARCo) and equity in its subsidiary Luminar Semiconductors Inc. (LSI) through an asset sale process to maximize asset value. 2. This restructuring has received majority creditor support, with approximately 91.3% of first lien holders and approximately 85.9% of second lien holders agreeing to the plan. Luminar emphasized that its business will continue to operate during the bankruptcy reorganization. Its subsidiary LSI is not included in this bankruptcy filing, and its operations are not expected to be affected. 3. Previously, Luminar had reached an agreement with Quantum Computing Inc. (QCi), under which the latter would acquire LSI's equity for $110 million in cash. This transaction, negotiated before the bankruptcy proceedings began, is considered a crucial part of the restructuring plan.
