Luminar Technologies, Inc./DE 8-K

What Happened

• Luminar Technologies, Inc. and certain subsidiaries (the “Debtors”) filed a solicitation version of the Third Amended Chapter 11 Plan of Liquidation and a related Disclosure Statement with the U.S. Bankruptcy Court for the Southern District of Texas on February 18, 2026. The Bankruptcy Court entered an order on February 18 authorizing the Debtors to solicit votes on the Third Amended Plan. The Chapter 11 Cases were commenced by voluntary petitions filed on December 15, 2025 and December 31, 2025 and are jointly administered under Case No. 25-90807 (CML).
• The Third Amended Plan contemplates liquidation of the Debtors’ remaining assets and distribution of proceeds to stakeholders. The Debtors note a global settlement with an ad hoc group of secured noteholders and the official committee of unsecured creditors that is described in the Disclosure Statement. The company warns there is no assurance the plan will be approved or consummated as proposed.

Key Details

• Filing and court action dates: Chapter 11 petitions (Dec 15 & Dec 31, 2025); proposed plan versions filed Dec 30, 2025; Jan 29, Feb 17 & Feb 18, 2026; court hearing and authorization to solicit votes on Feb 18, 2026. 8-K filed Feb 25, 2026.
• Case: Southern District of Texas, jointly administered under Case No. 25-90807 (CML).
• Outcome for equity: Company expects equityholders will likely experience a complete loss if the Third Amended Plan is approved and implemented.
• Market cautions: The 8-K warns trading in Luminar securities during the Chapter 11 cases is highly speculative; the company noted potential Nasdaq delisting and OTC trading risks.

Why It Matters

• For investors, the filing signals that Luminar is pursuing a liquidation-based Chapter 11 plan rather than a restructuring that preserves equity value. If the plan is approved, remaining assets will be sold and proceeds distributed to creditors first—common outcome is no recovery for common shareholders.
• The plan must still be accepted by creditors and approved by the Bankruptcy Court; outcomes and timing remain uncertain. Trading prices of Luminar securities may not reflect ultimate recoveries, so the company urges extreme caution to existing and prospective investors.