Lidar company Luminar to go public with a reverse merger

August 25, 2020
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Other financial
by Lewie Roberts
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Luminar will merge with shell company Gores Metropoulos to become publicly traded on NASDAQ and achieve "an equity value of $3.4 billion at closing." This makes it yet another lidar company to go public through a reverse merger, with Velodyne doing the same earlier in the year. With lidar companies starting to move into public ownership, clients should be especially skeptical of those without major clients. Volvo previously announced plans to use Luminar's lidar in consumer vehicles in 2022, and with a handful of others forming large partnerships with auto OEMs and Tier-1s, there will be few available partners left.

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