But even after factoring in last week's 32% drop, Velodyne's stock price is trading at about 50% above where its merger partner — Graf Industrial Corp. — … Luminar Technologies Inc., a heavily funded startup developing lidar sensors for autonomous vehicles, today said that it will hit the stock exchange through a $3.4 billion reverse merger with a so-cal Luminar's market cap is around $11 billion and Velodyne's is around $4 billion. The Palo Alto firm is set to complete a merger deal with investment vehicle Gores Metropoulos that will result in $570 million of new financing, including support from the Volvo Cars … Luminar Technologies and Gores Metropoulos today announced the completion of their business combination. Luminar Technologies, Inc. (“Luminar”), the global leader in automotive lidar hardware and software technology, and Gores Metropoulos, Inc. (“Gores Me Gores Metropoulos (NASDAQ:GMHI), a SPAC (special purpose acquisition company) stock signed a merger agreement on Aug. 14 with Luminar. The combined company will retain the Luminar name and will begin trading on the Nasdaq under “LAZR” Dec. 3. This week’s SPAC merger news has seen a fair few companies choose it as a way to enter the public market. Luminar is the latest transportation company to go public via a “reverse merger” with a special acquisition company, or SPAC. Gores Metropoulos Inc. (NASDAQ: LAZR) and Luminar Technologies on Friday completed a reverse merger announced in August. What do you think of Luminar? into Luminar and Orrick, Herrington & Sutcliffe LLP is acting as legal advisor to Luminar. Luminar SPAC Merger: 4 Things to Know About the AV Play LAZR Stock Shares of LAZR stock will be available after Luminar Technologies and Gores Metropoulos completed their … Luminar Technologies is making its way toward the Nasdaq Exchange, but they're not taking the traditional route to the public domain. In pre-market trading ahead of its December 3 debut on the exchange, the LAZR stock rose in value from its listing price of $18 to around $22. Luminar, Driverless-Car Maker, Plans $3.4B Reverse-Merger IPO Luminar, an autonomous-driving company, will go public through a merger with blank-check company Gores Metropoulos. Read more. GMHI Stock Merger Transaction details Pro forma implied enterprise value of approximately $2.9 billion and market capitalization of approximately $3.4 billion. The reverse merger agreement with “special purpose acquisition company” Gores Metropoulos - details of which were revealed in August - has boosted Luminar’s cash reserves by nearly $600 million. Additional information about the proposed transaction, including a copy of the merger agreement and investor presentation, will be provided in a Current Report on Form 8-K Luminar completed its own SPAC merger and joined the public markets last week. The combined company will retain the Luminar Technologies, Inc. name and will commence trading on Nasdaq under the new ticker symbol “LAZR” on December 3, 2020. Luminar (LAZR) stock surges on Apple's self-driving vehicle plans; rival Ouster reveals $1.9B SPAC merger Dec. 22, 2020 7:59 AM ET Luminar Technologies, Inc. (LAZR) By: … Many companies have gone public via the “blank check” route this year and it has been particularly popular in the new vehicle technology space. SPAC “Special purpose acquisition company” Gores Metropoulos NASDAQ: GMHI will be merging with Luminar, the transaction has been unanimously approved by the board of directors of both Luminar and Gores Metropoulos. As part of the deal, Luminar’s stockholders will receive approximately 271.8 million shares of Gores Metropoulos common stock at closing. Gores Metropoulos Inc. (NASDAQ: LAZR) and Luminar Technologies on Friday completed a reverse merger announced in August. Luminar Technologies stands at the forefront of two very 2020 trends.The company just went public yesterday (December 3) through a SPAC merger with Gores Metropoulos. Luminar Merger With SPAC Stock Gores Metropoulos NASDAQ: GMHI. Instead, the company is doing a reverse SPAC merger. Author: The combined company of Luminar and Gores Metropoulos will have an implied pro forma enterprise value of approximately $2.9 billion and an equity value of approximately $3.4 billion at closing. Canoo, Fisker Inc., Lordstown Motors and Nikola Corp. have gone public via a SPAC merger this spring and summer. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Luminar stock can't quite make up its mind which direction it is heading. In this video I go over Luminar Stock, LAZR. Since coming public in a reverse merger IPO through special purpose acquisition company "Gores Metropoulous" on … As part of the transaction, Luminar’s stockholders will receive approximately 271.8 million shares of Gores Metropoulos common stock at closing. At the time of the merger announcement in August, the deal implied a pro forma enterprise value of US$2.9 billion and a market capitalization of US$3.4 billion for Luminar. Luminar, a maker of lidar (light detection and ranging, or laser-light) systems for autonomous cars and trucks, received approximately $590 million in cash upon the completion of the transaction, with $460 million coming from Gores and $184 million… Luminar, a maker of … Luminar Technologies, the Silicon Valley startup at the forefront of lidar development for autonomous vehicles, has revealed plans to list on the Nasdaq as it looks to scale up to series production.. Luminar Stock Ipo : Luminar Lidar Stock Ipo Merger With Spac Gores Metropoulos Buy Gmhi Stock Cute766 / Participation from market makers and ecns is strictly voluntary and as a result, these sessions may offer less liquidity and inferior prices.. The SPAC afforded clarity on this front today when its revealed via a press statement that its much-anticipated shareholders vote, expected to approve the merger with Luminar… Luminar’s unparalleled technology and … Luminar listed on Nasdaq as “LAZR” Luminar and Gores Metropoulos, Inc. announced the completion of their previously announced business combination. Three and one-half months later, at the end of its first trading day as LAZR, the company’s market cap had reportedly ballooned to well in excess of US$7 billion. Luminar's stock price took a dive last Tuesday after a Reuters report suggested that key partner Mobileye might develop its own lidar units in-house, for use starting in 2025. The equity value of the deal is $3.4 billion. 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