techcrunch.com
Bankrupt lidar-maker Luminar has agreed to sell its lidar business to Quantum Computing Inc. for just $22 million, marking a monumental fall from the company’s $11 billion peak valuation in 2021. The deal follows Luminar’s Chapter 11 filing in December and is subject to better offers and bankruptcy court approval. This comes on the heels of a separate $110 million deal to sell its semiconductor subsidiary to the same buyer.
Former CEO Austin Russell is interested in submitting a bid, though Luminar is currently trying to subpoena him for information related to a past ethics inquiry. Quantum Computing Inc. serves as the “stalking horse bidder” to set a baseline value for the assets.
Read More
