Luminar Technologies (LAZR) Stock: Chapter 11 Sale Process, $110M Photonics Deal, and Nasdaq Delisting Countdown (Dec. 22, 2025)
Luminar Technologies filed for Chapter 11 bankruptcy on Dec. 15 and agreed to sell its photonics unit to Quantum Computing Inc. for $110 million in cash. The company faces imminent Nasdaq delisting as shares trade on heavy volume. About 91% of first-lien and 86% of second-lien noteholders support the restructuring, with $25 million in cash collateral approved to fund operations during the process.