LiDAR Maker Luminar Files for Chapter 11, Agrees to $110M Semiconductor Sale
- Luminar has filed for voluntary Chapter 11 with support from major noteholders and plans to sell its LiDAR and semiconductor units.
- Quantum Computing Inc. has agreed to acquire Luminar Semiconductors Inc. for $110 million in cash, subject to higher bids.
Luminar Technologies, a U.S.-based developer of LiDAR hardware and software, has filed for voluntary Chapter 11 in the Southern District of Texas, according to a press release. The filing is supported by a majority of its secured noteholders and is intended to enable the sale of its LiDAR business and its wholly owned semiconductor subsidiary, Luminar Semiconductors Inc. (LSI). LSI is not part of the bankruptcy filing and will continue normal operations.
Before filing, Luminar signed a deal to sell LSI to Quantum Computing Inc. for $110 million in cash. The sale is subject to court approval and potential competing offers under a section 363 sale process. Luminar will use $25 million of its existing cash, with noteholder consent, to fund operations and the sale process during bankruptcy proceedings.
Founded in 2012 to serve the automotive, commercial, and defense sectors, Luminar develops in-house LiDAR and photonics systems designed for high performance and scalability. The company stated it expects to continue operations during the Chapter 11 process, including working with suppliers and delivering LiDAR hardware and software to customers. Both planned asset sales are expected to close by the end of January 2026.
🌀 Tom’s Take:
Luminar’s Chapter 11 filing and planned asset sales mark a dramatic pivot for a company that once pursued end-to-end control over LiDAR, software, and semiconductor development.
Source: Luminar Technologies, Inc.
