Terms of Use The remaining $170 million will come from investors, including Thiel. Although he sold most of his shares, Thiel is still on Facebook’s board of directors. On Monday, Aug. 24, Luminar Technologies announced that it is going public through a $3.4 billion merger with Gores Metropoulos. Luminar Technologies, Inc. is producing advanced sensor technologies for … Request Access. Its stock is now … Its financial growth will reportedly depend on turning its research partnerships into production deals. Discover historical prices for LAZR stock on Yahoo Finance. It enables autonomous driving. Price Action: Shares of Collective Growth … The merger should close in the fourth quarter of 2020. The company operates in two segments, Autonomy Solutions and Other Component Sales. Luminar Technologies CEO Austin Russell, 25, secured a hefty fortune after his company's stock market debut on Thursday. Luminar Technologies (LAZR) stock price, charts, trades & the US's most popular discussion forums. 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The company has a market value of $573 million. it does not seem to include any kind of premium that other SPAC stocks have had … Luminar IPO luminartech.com | Autonomous Technologies | Founded: 2015 | Funding to Date: $130,000,000 Luminar was founded in 2012 by Austin Russell and Jason Eichenholz. We’ll walk through what you need to know about buying Luminar Technologies stocks from Canada. What we know about the Luminar Technologies IPO On December 3, Luminar Technologies, a company that manufactures automotive LiDAR technology, went public through a merger with special purpose acquisition company (SPAC) Gores Metropoulos. We're getting close to year's end, so keep your nose to the ground on … GoDaddy Stock Looks Like a Buy Due to Digital Potential, U.K. Luminar and Gores Metropoulos, Inc., announce a merger that paves the way for Luminar to become a publicly listed company. Austin Russell, founder and CEO of Luminar, had this to say about the LAZR stock launch: This is an incredibly proud moment for the entire Luminar team and a … Why Luminar Technologies' Stock Spiked Today. The acquisition turned Luminar into a public company, with the combined entity retaining the Luminar Technologies name. Luminar Technologies CEO Austin Russell, 25, secured a hefty fortune after his company’s stock market debut this week. Luminar is a maker of lidar, a technology that uses pulsed laser beams to measure distances that are used in most self-driving concepts. Nachrichten zur LUMINAR TECHNOLOGIES A Aktie - Aktuelle TOP-Meldungen - Die wichtigsten LUMINAR TECHNOLOGIES A News im Überblick - seriös, schnell und kompetent. Nachrichten zur Aktie Luminar Technologies Inc Registered Shs -A- | A2QDGP | LAZR | US5504241051 At the closing, the combined company will have an implied pro forma enterprise value of $2.9 billion and an equity value of $3.4 billion. Luminar Technologies is a driverless car startup company that was founded by CEO Austin Russell in 2012. On December 3, 2020, Luminar Technologies, a company that manufactures automotive LiDAR technology, went public through a merger with special purpose acquisition company (SPAC) Gores Metropoulos. Luminar is the latest transportation company to go public via a "reverse merger" with a so-called "blank check" special acquisition company, or SPAC. Investors seek businesses with higher growth amid the COVID-19 pandemic. Support: 888-992-3836 | NewsWire | Home | Login / Register. Luminar is currently valued at more than $3 billion. Luminar Technologies Inc. LAZR, -5.92% shares rallied nearly 40% Friday, doubling in its two days as a public company following a merger with a … We’ve seen the future of transportation. The sensors bounce lasers of objects to guide autonomous vehicles. Investors. “Now it’s all about scale, execution and seeing it though,” Russell told Reuters. According to the U.S. Securities and Exchange Commission (SEC) filings, Russell will own about a … The company’s high-tech sensors will provide hands-free highway driving in select Volvo vehicles in 2022. Luminar Technologies will likely be a winner, but LAZR stock is valued too high. Luminar Stock. That made Russell’s stake of 104.7 million shares — about a third of the company’s outstanding stock — worth $2.4 billion, according to Forbes, which called him the world’s youngest self-made billionaire. The company went public on Dec. 3 … iRhythm Technologies price target raised to $265 from $240 at Truist Securities, stock rated buy Wed, 6 Jan 2021 09:55:23 UTC via MarketWatch; Shoals Technologies Group Begins IPO Plan Tue, 5 Jan 2021 17:13:49 UTC via Seeking Alpha; Uber Technologies price target raised to $80 from $54 at Deutsche Bank Mon, 4 Jan 2021 07:55:53 UTC via MarketWatch He is a well-known tech billionaire and venture capitalist. Best SPAC to buy now!!! LUMINAR TECHNOLOGIES, INC. (E xac t N ame of R e gi s tr an t as S p e c i fi e d i n I ts C h ar te r ) D e l aw are 3714 83-1804317 (State or O the r Jur i s di c ti on of I nc or por ati on or O r gani z ati on) (P r i mar y Standar d I ndus tr i al Cl as s i fi c ati on Code Numbe r ) (I .R.S. Is the Options Market Predicting a Spike in Luminar (LAZR) Stock? At the closing, Luminar stockholders will get 271.8 million shares of Gore Metropoulos common stock. The merger is expected to close in 2020’s fourth quarter. Luminar IPO luminartech.com | Autonomous Technologies | Founded: 2015 | Funding to Date: $130,000,000 Luminar was founded in 2012 by Austin Russell and Jason Eichenholz. Their stock opened with $30.00 in its Dec 3, 2020 IPO. Luminar has continued to ink high-profile deals even in the pre-merger phase. The Luminar IPO date may come as early as the end of the fourth quarter in 2020. ... cheaper route to going public and raising funds than a conventional IPO, and one that looks particularly appealing given the runup in major U.S. stock … Looking at the price targets, the low is -6.63% off current price level while to achieve the yearly target high, price needs to move +27.61%. Luminar Technologies (NASDAQ: LAZR) revealed its plan to go for an IPO in August via a reverse merger with a special purpose acquisition company. Luminar is a maker of lidar, a technology that uses pulsed laser beams to measure distances that are used in most self-driving concepts. At this point, GMHI stock is up just 5.5% from its IPO price of $10. Currently, Thiel has a net worth of $2.1 billion. Luminar Technologies, Inc. (LAZR) latest earnings report: revenue, EPS, surprise, history, news and analysis. Careers. 4,131, This story has been shared 2,387 times. Hyped up stocks without revenue are target for hedge funds. Buy or sell Luminar stock pre IPO via an EquityZen fund. In May 2020, Luminar signed a multiyear agreement with Volvo. Luminar is partnered with 7 of the top 10 global automakers and is set to power the introduction of highway self … Luminar Technologies Inc has agreed to go public through a $3.4 billion SPAC IPO merger with Gores Metropoulos Inc GMHI stock. Velodyne stock closed at $15.12 on Friday but traded up around 4.5% on … Latest Headlines. Russell is one of the first billionaires to emerge from the self-driving vehicle market. After the deal closes, Luminar Technologies will trade on Nasdaq under the ticker “LAZR.”. Form S-1 filed by Luminar Technologies, Inc./de with the security and exchange commission. Analysts have given the company’s stock an average 52-week price target of $37, forecast between a low of $30 and high of $41. Founder Russell, a 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.”. The startup is backed by tech billionaire Peter Thiel. In the last 12 months, LAZR had revenue of $17.32 million and -$2.19 million in losses. Gores Metropoulos investors reacted positively to the merger news. Latest News . Stocks; Commodities; Forex; Cryptocurrency; The Lounge; Hot! ET on Aug. 24, Gores Metropoulos stock was trading at $11.49. Find the latest Earnings Report Date for Luminar Technologies, Inc. Class A Common Stock (LAZR) at Nasdaq.com. Luminar emerged from the crowded startup field by offering lidar sensors at a lower price. Updates. LAZR Stock: Why Luminar Technologies Shares Are Driving Higher Wednesday Dec. 16, 2020 at 11:45 a.m. Gores Metropoulos, Inc. stock symbol GMHI to be changed to LAZR symbol after the merger is complete. Their latest funding was raised on Oct 30, 2020 from a Corporate Round round. Gores Metropoulos is a special purpose acquisition company (SPAC) affiliated with the Gores Group investment firm. Legal Name Luminar Technologies, Inc. Stock Symbol NASDAQ:LAZR ; Company Type For Profit; Contact Email hello@luminartech.com; Founded in 2012 by CEO Austin Russell, Luminar is the leading autonomous vehicle and lidar technology company for consumer cars and trucking. That compares to 14.5x for Luminar, 3.2x for Aeva and 5.2x for Velodyne (2024 revenue estimate used). Shares opened at $23.65 and gave the company a valuation of about $7 billion. Source. Note: all dollar amounts on this page are in US dollars unless otherwise stated. Contributor. Post was not sent - check your email addresses! That is because the May 21, 2021 $10.00 Put had some of the highest implied volatility of all equity options today. What we know about the Luminar Technologies IPO. Luminar is the latest buzzy company to go public by merging with a special purpose acquisition company, or SPAC, a publicly traded firm that’s set up solely to combine with another firm that takes over its stock listing. The company’s shares rose 10 percent to $11.60 per share, which is the highest jump since March 2019. 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. Under Russell’s leadership, Luminar has inked a deal to supply lidar units for Volvo vehicles and secured partnerships with Daimler Truck and Mobileye, Intel’s autonomous vehicle unit. ET on InvestorPlace.com Buy Luminar (LAZR) Stock Because $41 Is Around the Corner, Says Analyst Thanks for contacting us. “It is totally surreal and it totally makes sense and it is hard to explain the dichotomy of it, but this has always been the goal,” Russell told CNBC on Thursday. The stock opened at around $25 and sank nearly 25% to close its first trading day at $18.69. https://t.co/Dk5bR4pzza. Luminar, Driverless-Car Maker, Plans $3.4B Reverse-Merger IPO Driverless-car startup Luminar Technologies will go public in a $3.4 billion merger … Innoviz Technologies Ltd., an Israeli lidar startup backed by two of the world’s largest automotive suppliers, is going public in a $1.4 billion reverse merger with Collective Growth Corp. Russell received a $100,000 fellowship from Thiel’s foundation in 2013 to build up the company. Luminar is a breakout autonomous vehicle sensor company that came out of stealth after five years in development. View daily, weekly or monthly format back to when Luminar Technologies, Inc. stock was issued. LUMINAR TECHNOLOGIES: Thinking about buying stock in Agios Pharmaceuticals, Clo.. 2020: LUMINAR TECHNOLOGIES: Deutsche Bank Starts Luminar Technologies at Buy With $37.. 2020: LUMINAR TECHNOLOGIES: Northland Upgrades Luminar Technologies to Outperform Fro.. 2020: SECTOR UPDATE: Technology Stocks Gain Premarket Wednesday Luminar Technologies. Luminar Technologies IPO Details On December 3, 2020, shareholders approved the deal. … Luminar is registered under the ticker NASDAQ:LAZR . Following the IPO, Gores will change its name to Luminar Technologies … Thiel also co-founded Palantir, which is a CIA-backed big data company valued at $20 billion. Luminar was bought in August by Gores Metropoulos Inc., backed by billionaires Alec Gores and Dean Metropoulos. Luminar is going public sooner than expected. Luminar is going to become publicly traded by merging with a special purpose acquisition company, or SPAC. Shares of Luminar Technologies (LAZR) surged as high as 39% today after going public through a reverse merger with SPAC Gores Metropoulos (NASDAQ:GMHI).The maker of … Gores Metropoulos will pay $400 million in cash, which it raised in an IPO in November 2019. Data is currently not available. Luminar Technologies historical price data and LAZR charts. LUMINAR TECHNOLOGIES A AKTIE und aktueller Aktienkurs. “We set up the company to be a long-term sustainable business and power the future of autonomy for all of these automakers.”. Although both companies’ boards have approved the deal, it’s still subject to regulatory and stockholder approvals as well as other closing conditions. Luminar is funded by 21 investors. While Russell said it can be hard for the market to value new technologies that lack existing market comps, he noted Luminar is working with … The company has projected long-term annual revenues in the billions of dollars, but it posted a nearly $95 million net loss last year on just about $13 million in revenue. Gores Metropoulos, Inc. November jobs report shows slower-than-expected numbers, This story has been shared 4,131 times. Luminar and Gores Metropoulos Announce Closing of Business Combination Luminar Technologies, Inc. (“Luminar”), the global leader in automotive lidar hardware and software technology, and Gores Metropoulos, Inc. (“Gores Metropoulos”) (Nasdaq: GMHI, GMHIU and GMHIW), a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC and an affiliate pic.twitter.com/gEyJD7NFX0, According to Forbes, Russell said, “This milestone is pivotal not just for us, but also for the larger automotive industry. John … Products. As of 9:33 a.m. Is Peugeot Coming Back to the North American Market? Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. Reminds Stockholders to Vote in Favor of the Business Combination With Luminar Technologies, Inc. Nov 24, 2020 Luminar Accelerates Commercial Momentum With … Further, Luminar Technologies, Inc. (LAZR) has a beta value of 0, and an average true range (ATR) of 4.53. Innoviz Technologies Ltd., an Israeli lidar startup backed by two of the world’s largest automotive suppliers, is going public in a $1.4 billion reverse merger with Collective Growth Corp. What we know about the Luminar Technologies IPO. Data is currently not available. Privacy Notice Benzinga's PreMarket Prep airs every morning from 8-9 a.m. … By teaming up with an SPAC, a startup can go public quicker without the scrutiny and risks associated with an IPO. The merger aims to get Luminar’s lidar laser sensors onto global automakers’ production lines. Free forex prices, toplists, indices and lots more. Sorry, your blog cannot share posts by email. Do Not Sell My Personal Information. AmerisourceBergen and Walgreens Sign 'Deal of a Lifetime'. Luminar stock can't quite make up its mind which direction it is heading.Since coming public in a reverse merger IPO through special purpose … About Luminar Stock. The remaining $170 million will come from investors, including Thiel. 2,387, This story has been shared 1,771 times. In a phone interview, Luminar CEO Austin Russell said, “By the time this is over, we will have brought in north of $500 million—that allows us to make these kinds of strategic investments and additionally accelerate our programs and timelines and customer adoption.”. Luninar isn;t an electric-vehicle company. Luminar Technologies, Inc. Class A (US:LAZR) institutional ownership structure shows current positions in the company by institutions and funds, as well as latest changes in position size. Luminar Technologies market cap is $11.4 b.. View Luminar Technologies stock / share price, financial statements, key ratios and more at Craft. IPO & Stock Price Luminar is registered under the ticker NASDAQ:LAZR. Your California Privacy Rights As Coinspeaker reported, the … The founder of a startup that helps cars drive themselves just became a billionaire — and he’s barely old enough to rent a car on his own. Luminar Technologies Inc. LAZR, -5.92% shares rallied nearly 40% Friday, doubling in its two days as a public company following a merger with a blank-check company. His wealth surged even higher on Friday with Luminar’s shares climbing nearly 37 percent to $31.40, leaving Russell with a paper net worth of nearly $3.3 billion heading into the weekend. Luminar Technologies, Inc. (LAZR) latest earnings report: revenue, EPS, surprise, history, news and analysis. 1,771, © 2021 NYP Holdings, Inc. All Rights Reserved Lidar stocks like Velodyne and Luminar Technologies rallied Tuesday on a report that Apple could make a self-driving car by 2024, while Ouster said it would go public via a blank-check company.. X Luminar investors will keep 80 percent of the company, while Gores Metropoulos will own about 11 percent. Get today's Luminar Technologies stock price and latest LAZR news as well as Luminar Tech real-time stock quotes, technical analysis, full financials and more. Luminar has raised a total of $420M in funding over 7 rounds. Foothold With Shoe Palace Acquisition. Markets LAZR. Income Statement. EquityZen is a marketplace for shares of proven pre IPO tech companies . We've received your submission. That is because … They buy a few million shares to create momentum, then sell the same shares short to create downward momentum which creates fear in retail. Xpeng, which began trading Thursday on the New York Stock Exchange under the ticker symbol XPEV, said in a filing that it sold 99.7 million shares for … 1h zacks.com - Investors in Luminar Technologies, Inc. (LAZR Quick QuoteLAZR - Free Report) need to pay close attention to the stock based on moves in the options market lately. The company has taken the lead in the lidar sensor market with its superior self-driving and next-generation safety systems. He left Stanford University as a teenager in 2012 to start Luminar with help from a fellowship sponsored by Peter Thiel, the Silicon Valley tycoon who’s also invested in Facebook and Palantir. 12/08: LUMINAR TECHNOLOGIES, INC./DE: Entry into a Material Definitive Agreement, Completion of Acquisition or Disposition of Assets, Unregistered Sale of Equity Securities, Material Modification to Rights of Security Holders, Changes in Registrant's Certifying … It is trading at 348 times 2021 revenue, not earnings -- an absolutely absurd valuation. The blank-check company’s stock closed at $10.85, up around 10% from its $10 March 2019 IPO price. In addition to co-founding PayPal, Thiel was also an early investor in Facebook. The Florida-based firm — which he founded when he was just 17 — makes so-called lidar scanners that use lasers to give autonomous cars a three-dimensional view of the road and what’s around them. Boards. Sitemap Technology. Author: So far in 2020, there has been a surge in automaker startups making “blank check” merger deals. Athletic Company JD Sports Gets a U.S. Your Ad Choices Because we built it. Their stock opened with $30.00 in its Dec 3, 2020 IPO. Lidar stocks like Velodyne and Luminar Technologies rallied Tuesday on a report that Apple could make a self-driving car by 2024, while Ouster said it would go public via a blank-check company.. X Luminar Technologies shares drop 3% after short-seller Citron calls stock a 'suckers game' Dec. 08, 2020 10:55 AM ET Velodyne Lidar, Inc. (VLDR) By: Brandy Betz , SA News Editor 89 Comments December 4, 2020 | 9:10am | Updated December 4, 2020 | 5:35pm. View More Companies. ET. Current Luminar investors will receive about 272 million shares of Gores Metropoulos common stock at closing. Earnings per share was -$0.03. Luminar Technologies operates as a vehicle sensor and software company for passenger vehicles and trucks. Gores Metropoulos will pay $400 million in cash, which it raised in an IPO in November 2019. Investors in Luminar Technologies, Inc. LAZR need to pay close attention to the stock based on moves in the options market lately. Luminar’s share price surged nearly 28 percent on its Thursday debut to close at $22.98, giving the company a market value of about $7.8 billion, the Wall Street Journal reported. Major shareholders can include individual investors, mutual funds, hedge funds, or institutions. Do Not Sell My Personal Information, Your California Privacy Rights As a result, Luminar Technologies stock started trading. Free real-time prices, trades, and chat. Shares of LAZR stock will be available after Luminar Technologies and Gores Metropoulos completed their "business combination" on Thursday. Lidar sensors at a lower price as the end of the highest implied of. 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