Luminar Technologies Inc. $(LAZR)$, a leader in automotive technology, has announced a definitive agreement to issue up to $200 million in convertible preferred stock over an 18-month period. The investment is being made by YA II PN, Ltd., managed by Yorkville Advisors Global, alongside another accredited investor. The initial issuance of $35 million will be used for general corporate purposes and debt retirement. D. Boral Capital LLC acted as the exclusive placement agent for the offering. This move is aimed at providing Luminar with additional financial flexibility and strengthening its balance sheet as it continues to innovate in vehicle safety and autonomy.
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