Simpson Thacher represented Morgan Stanley & Co. LLC, as underwriter, in connection with a secondary offering by Austin Russell (the “Selling Stockholder”) of 10,500,000 shares of Class A common stock of Luminar Technologies, Inc. (“Luminar”). The Selling Stockholder received approximately $221 million in proceeds before expenses from the offering.
Luminar has emerged as a leader in the autonomous transportation industry, setting the standard for performance and safety in lidar technology. Luminar’s life-saving technology detects and identifies objects up to 250 meters away, and reliably measures the speed of other cars or pedestrians on the road.
The Simpson Thacher team for this transaction included Daniel Webb, Kelli Schultz, Mary Keating and Grace Bowers (Capital Markets); Jennie Getsin (Blue Sky and FINRA); Corina McIntyre, Rachel June-Graber and Samuel Watters (Intellectual Property); Jonathan Cantor and Joseph Tootle (Tax); and Michael Isby (Environmental).