Luminar Technologies, Inc./DE 8-K

What Happened

• Luminar Technologies, Inc. filed an 8-K announcing it completed the sale of all issued and outstanding shares of Luminar Semiconductor, Inc. (LSI) to Quantum Computing Inc. for $110 million in cash (LSI closing: Feb 2, 2026). $11 million of the cash proceeds is held in a 12‑month post-closing escrow for certain reps, warranties and indemnity claims. The LSI sale includes mutual IP licenses and a three‑year non‑compete/no‑solicit covenant by Luminar.
• Separately, following an auction, Luminar sold its remaining LiDAR assets to MicroVision, Inc. under an asset purchase agreement for $33 million in cash (auction held Jan 26, 2026; MicroVision closing completed Feb 3, 2026). Luminar terminated its prior stalking‑horse asset purchase agreement with Quantum (notice delivered Feb 4, 2026) and paid Quantum a $660,000 break‑up fee plus $500,000 in expense reimbursement.

Key Details

• LSI sale price: $110 million cash; $11 million escrow for 12 months.
• LiDAR assets sale price to MicroVision: $33 million cash (auction winner).
• Stalking‑horse agreement with Quantum terminated Feb 4, 2026; Quantum paid $660k breakup fee + $500k expense reimbursement.
• Post‑sale covenants include a 3‑year non‑compete/no‑solicit and mutual non‑exclusive IP licenses to preserve freedom to operate.

Why It Matters

• These transactions provide immediate cash proceeds that reduce Luminar’s asset base and shift parts of the business to buyers, which is material for creditors and investors. However, Luminar is operating under Chapter 11 bankruptcy and explicitly warns that trading its securities is highly speculative and holders may incur significant or complete losses. The company also noted it cannot yet provide pro forma financials reflecting these transactions.