• Luminar Technologies stock is taking a hit today. What’s pressuring LAZR stock?

What To Know: Luminar said the bankruptcy filing is part of a strategic push to facilitate a court-supervised sale of its assets and address its debt obligations.

Luminar emphasized that Luminar Semiconductor is not a debtor in the Chapter 11 cases and will continue operations as usual, with the sale subject to higher or better offers under a Section 363 process.

Luminar enters bankruptcy with a Restructuring Support Agreement backed by approximately 91.3% of its first lien noteholders and 85.9% of its second lien noteholders.

LAZR Price Action: Luminar Technologies shares were down 64.53%, trading slightly below 22 cents at the time of publication on Monday. The stock is trading near its 52-week low of 18 cents, according to Benzinga Pro data.

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