07:39 AM EDT, 05/23/2025 (MT Newswires) -- Luminar Technologies ( LAZR ) said Friday it has signed private deals with certain holders of its 1.25% convertible senior notes due 2026 to repurchase $50 million of notes for about $30 million in cash and exchanges for 1.1 million in newly issued common shares.

The buybacks will be financed using proceeds from the preliminary issuance of Series A convertible preferred stock, the company said.

After the completion of the exchange deals, roughly $135 million of the 2026 convertible notes would remain outstanding, Luminar Technologies ( LAZR ) said.