Gores Metropoulos Inc. a special function purchase company sponsored by the affiliate for the Gores Group, LLC plus an affiliate of Metropoulos and Co., today announced the conclusion of the previously established company combination (the “Business Combination”).
The combined business will retain the Luminar Technologies, Inc. title and certainly will commence trading on Nasdaq under the ticker that is brand new “LAZR” on December 3, 2020. Business Combination was approved at a meeting that is special of Metropoulos stockholders on December 1, 2020.
The conclusion that is prosperous of Business mix is reinforced by a number of landmark achievements in 2020, like the introduction of Luminar’s Iris LiDAR and software services and products for series production across all three industry verticals: customer cars, trucking, and robo-taxis. Previously this year, Luminar finalized a’s first production deal for autonomous consumer automobiles with Volvo Cars, while also recently striking handles Daimler Truck AG and Intel’s Mobileye. Following company Combination, Luminar expects to accelerate growth that is commercial its over 50 commercial lovers while further expanding its autonomous computer software and Proactive security ADAS solutions. Luminar’s Iris is designed into automobile models prepared to commence show manufacturing starting in 2022.
“It is an minute that is incredibly proud the whole Luminar team and a milestone for the industry at large,” stated Austin Russell, Founder and CEO of Luminar. “Over the previous several years, we’ve made the change from a technology development startup to now an international provider of autonomous systems to a lot of for the world’s largest OEMs and trucking that is commercial to power their autonomous future in production. We anticipate accelerating widespread commercial use of autonomy and proactive security solutions and getting into the next step of our journey as a public business, which will solidify our leadership place well in to the future and enable autonomy at an unprecedented scale.” Gores Metropoulos Inc. a special function purchase company sponsored.