Auto start-up Luminar to go public in $3.4 billion deal

[August 24, 2020]  (Reuters) - Autonomous vehicle start-up Luminar Technologies Inc said on Monday it would go public through a merger with blank-check firm Gores Metropoulos Inc for about $3.4 billion.

The deal includes $400 million of cash from Gores Metropoulos and $170 million financing into Luminar by investors including tech billionaire Peter Thiel and Volvo Cars Tech Fund.

Luminar makes lidar sensors and software for autonomous vehicles.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Sriraj Kalluvila)

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