Luminar Technologies (LAZR) said Friday it has signed private deals with certain holders of its 1.25% convertible senior notes due 2026 to repurchase $50 million of notes for about $30 million in cash and exchanges for 1.1 million in newly issued common shares.
The buybacks will be financed using proceeds from the preliminary issuance of Series A convertible preferred stock, the company said.
After the completion of the exchange deals, roughly $135 million of the 2026 convertible notes would remain outstanding, Luminar Technologies said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.