Luminar Restructures Existing Debt and Raises New Capital

In The News
August 9, 2024

Ropes & Gray represented a group of noteholders in connection with an exchange of $420 million of convertible notes into second lien secured convertible notes and the provision of $100 million of new first lien debt financing to Luminar. The transaction reduces Luminar’s debt by $148 million and provides it with a maturity extension. The transaction was announced in an Aug. 6 press release.

Luminar is a global automotive technology company and has built an advanced hardware and software/AI platform to enable its over 50 industry partners.

The team included finance partners Sam Badawi, Alyson Gal Baard and counsel Brett Pearlman, and IP transactions partner Melissa Rones.