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I’m still not sure how they work either, but i remember the dkng warrants outperformed the underlying for a while, and when the stock hit 40, and the warrants got exercised, they became worthless if you were still holding them, my boyfriend almost lost 20k in heartbeat,... managed to fidelity make good and exercise, but it was sketchy... I’d keep a close eye on the details if your gonna play with them...
I PM'd Golden_Cross about the change. It's in his/her lap now
New board already established LAZR...shut this one down or close for comments... :)
I'm seeing $22.49 or so pre-market...this is the one that's gonna be a zip code changer for long term holders...
He actually got it to 21.70ish two or three times in the span of 10 minutes (6:40 - 6:50) lol!. That pump aside, LAZR is going to ring the NAZ bell for the open tomorrow- Steve Grasso gave it a thumbs up pump on twitter yesterday and today (and I believe it was his "final trade" on Fast Money a couple of weeks ago, so CNBC will undoubtedly, imo, be on this ticker change tomorrow as well. I'm thinking it opens higher than 18
Cramer pump got it to 20.70ish
however it should open at 18
Nice , tomorrow should be fun...
LOL...I think this will do well as a long term investment...got some this and some warrants (GMHIW). Though admittedly, I'm a little bit in the dark on how the warrants actually work...I was thinking I figure it out, eventually...LOL
Going to be a lazr tomorrow see what I did there ..lol
$GMHI $LAZR Things could get very interesting here. I have a feeling the young scholar CEO Russel has a major trick up his sleeve. Here is a list of upcoming conferences:
Goldman Sachs Global Automotive Conference
Date: December 4, 2020
Presentation Time: TBC
Macquarie Next Generation Automotive Technologies Corporate Day (Japan)
Date: December 7, 2020 (December 8, 2020 in Japan)
Presentation Time: 5:30 p.m. PT / 8:30 p.m. ET
Barclays Global Technology Conference
Date: December 9, 2020
Presentation Time: 8:30 a.m. PT / 11:30 p.m. ET
The Goldman Sachs conference couldn't be a better place to drop some massive news. CEO already admitted the next big partner will be announced soon. With the merger going through in the next few days and a cluster of large conferences simultaneously, I think it's safe to say Russell is going to drop the bombshell this week, to maximize on the PR. (That's what I would do).
Here is where it gets very intriguing. There is chatter that it could be NIO. And IMHO, that is a very real possibility. Not sure about the accuracy, but this article states they are Luminar and Nio are "partners". "Bear in mind that Luminar has partnered with around 50 automakers, including NIO."
https://wccftech.com/nio-may-be-able-to-outpace-teslas-autopilot-feature-if-it-integrates-the-lidar-offered-by-luminar-technologies/
Now we also know that Mobileye, who Luminar just signed a massive deal with, also is partnered with NIO.
https://newsroom.intel.com/news/mobileye-nio-partner-bring-level-4-autonomous-vehicles-consumers-china-beyond/#gs.m9r01p
And look at this hidden gem I found. One of the main software engineers at Luminar, formerly worked at NIO as well.
https://www.linkedin.com/in/sripathivenky/?fbclid=IwAR2zP2sz4YCdYsZFN_HsAB4kwkl8greWkLVmxbFNnbK4xqwCuBv83YhIV8w
IMHO I don't think it's out of the realm of possibility that Luminar might be announcing a partnership with NIO. If so, I will adjust my price target to $55. (Not saying it will maintain that price, but on hype I could see it).
All IMHO and best of luck. I am long $GMHI / $LAZR
Luminar Technologies Announces Announces Deal With Mobileye To Supply Luminar Lidar For The Company's Autonomous Vehicle Series; NOTE: Luminar Is In Process Of Becoming Public Through Gores Metropoulos Merger
9:06 am ET November 20, 2020 (Benzinga) Print
The leader in automotive ADAS chooses the leader in lidar technology for level 4 autonomy solutions
PALO ALTO, Calif.--(BUSINESS WIRE)-- Luminar Technologies, Inc. (“Luminar”), the global leader in automotive lidar hardware and software technology, which is currently in the process of becoming a public company through its expected merger with Gores Metropoulos, Inc. (NASDAQ:$GMHI, GMHIU, GMHIW)), a special purpose acquisition company, has struck a deal with Mobileye, an Intel company, to supply Luminar lidar for the company’s Autonomous Vehicle (AV) Series solution in its next phase of driverless car development and testing.
As part of the agreement, Mobileye will collaborate with Luminar to use its lidar for the first generation of its level 4 Mobility-as-a-Service (MaaS) pilot and driverless fleet in key markets around the world, including Tel Aviv, Israel; Dubai, UAE; Paris, France; and Daegu City, South Korea.
Luminar’s technology will be used to enable Mobileye’s TRUE REDUNDANCY™ solution which is uniquely comprised of multiple self-contained sensor systems to enable uncompromised safety and validation for level 4 driving. By processing completely independent streams of data from 360-surround view cameras, lidar, and radar, the solution ensures significantly greater perception accuracy and eliminates the impact of disruptions to an individual sensor.
“Mobileye disrupted the auto industry to become the undisputed king of ADAS, and with the right partner is uniquely positioned to enable autonomy at an unprecedented scale,” said Austin Russell, Founder and CEO of Luminar Technologies. “After collaborating with Mobileye for over a year, we’re excited to formalize this deal and work towards a shared vision of making autonomy safe and ubiquitous.”
Luminar has secured a total of 50 commercial partners across passenger vehicle, trucking, and robo-taxi verticals, representing approximately 75% of major players in the targeted customer ecosystem. Luminar’s accelerating commercial traction has resulted in opportunities to convert 12 of its OEM programs and engagements from development stage into production. Key 2020 achievements across its three key verticals include:
Passenger Vehicle – Luminar has secured the industry’s first series production deal for consumer vehicles starting in 2022. Luminar remains on schedule with the first Iris sensors now running live on vehicles. Luminar is partnered with seven of the top 10 largest automakers at various development stages, with timelines to series production landing between 2022-2025.
Trucking – Luminar is partnered with the largest global truck OEM to commercialize Level 4 autonomous trucks for long-haul highway use cases; Luminar is now also powering all other major autonomous trucking programs globally.
Mobility-as-a-service – Luminar is now working with a number of major next-generation autonomous robo-taxi programs, with particular focus on those closer to series production, including Mobileye’s internal Mobility-as-a-Service program.
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Yes, that should be the case with the common stock "GMHI". It will be changed to "LAZR" once its announced, currently scheduled for sometime this quarter.
DPHC (Diamond Peak) converted to "RIDE" Lordstown Motors Corp today trading on the NASDAQ. Though, it may take a couple of days for the brokers to update that symbol/name change done within ones' portfolio.
So we bought GMHI stock once they nmrge will the stock just be renamed and we receive the same amount of stock as we have of GMHI?
Thinking about starting a position before the merger...Question, what are investors here choosing to buy or a combination of: GMHI (common), GMHIW (warrant), GMHIU (common and 1/3 warrant)?
And why or opinions regarding the purchasing of, thanks?
$GMHI - Gores Metropoulos, Inc. (NASDAQ CM: GMHI) entered into an agreement and plan of merger with Dawn Merger Sub, Inc. ("Merger Sub 1"), Dawn Merger Sub II, LLC ("Merger Sub 2"), and Luminar Technologies, Inc. Pursuant to the terms of the merger agreement, Merger Sub 1 will merge with and into Luminar, with Luminar surviving. Shareholders of Luminar will receive an aggregate consideration of $2,928,828,692 in shares of Gores Metropoulos Class A and Class B common stock.
GMHI filed an amended proxy statement a couple of days ago but there’s still no record date or stockholder vote date. However, they are probably going to schedule them in the near future.
The deal requires approval of Gores stockholders.
We don't know.
Probably gonna tank after merger, think I’ll sell in the morning at pretty much a break even
I noticed that more and more are buying than are selling and the stock is pushing low. You would think that buying would have it going up? I totally believe that this is going to break out once it merges with Luminar.
When’s closing?
Merger Target: Luminar
Market Capitalization: $1.02 Billion
On August 24, Luminar, an automotive lidar technology company, agreed to a reverse merger with Gores Metropoulos (NASDAQ:GMHI), a SPAC stock. Lidar sensors use lasers to make 3-D representations of objects. Luminar is used by 7 of the top 1o global automakers for auto self-driving technology. Also, it claims to have 50 partner companies, including Volvo which will use Luminar’s products in its 2022 vehicles.
Gores Metropolous will contribute $400 million in cash to the deal and a number of high rollers including Peter Thiel, who first funded Google, will supply an additional $170 million. The company claims the deal will have an estimated enterprise value (EV) of $2.9 billion, based on a projected market value of $3.4 billion. The stock ticker will change to “LAZR.”
Interestingly though, as of today the stock has a market cap of just $1.06 billion. So if the transaction promoter’s expectations come to pass, the stock could more than double.
However starting on page 24 of Luminar’s slide presentation, the financials show EBITDA losses up until the end of 2024. In 2024 it will make $124 million, more than doubling to $365 million by the end of 2025.
That puts the expected $2.9 billion of EV after the merger closes (assuming the stock rises over 100%), at 8 times the EBITDA of five years in the future. Assuming at least a 15% discount rate, the present value of the 2025 EBITDA is actually just half of that (49.7%). So the real EV-to-EBITDA number is actually twice the stated number, or 16 times EBITDA. That’s a little high.
9 Outbreak-Fueled Stocks to Buy This Week
Nevertheless, today’s valuation of $1.06 billion for GMHI stock is too low. It implies a paltry $500 million EV and just 1.36 times 2025 EBITDA. Even after discounting it is about 2.7 times. Therefore I believe a more appropriate price is at least twice today’s pricing. Expect to see GMHI stock (and LAZR post-merger) to double upon closing.
"The company claims it is currently quoting and arranging multi-year contracts worth more than $1.5 billion combined."
CHA CHING!!!!!!
https://www.marketwatch.com/story/the-second-wave-of-a-rolling-bear-market-is-about-to-begin-says-top-forecaster-11600945948
“We’re playing very defensive by buying these SPACs and there’s a very big boom,” said Lamoureux, who recommends GMHI GMHI, -1.66%, or Gores Metropolus — his biggest stockholding.
Last month, automotive technology company Luminar, which works with Volvo VOLV.B, -0.12% and other top auto makers, agreed to go public through a merger with GMHI. That taps into a theme he likes — self-driving cars and trucks.
After doing extensive DD on SPACs, my favorite is $GMHI / Luminar. They create Lidar software and hardware systems for self driving vehicles.
Here is why I like it:
-Institutional investors:
Peter Thiel (investment legend!!)
Volvo Cars Tech Fund
GoPro founder Nick Woodman
Many Others
-Reasonable Market Cap and share count $3.4B, OS 272M.
-Already has real revenues and large partnerships:
"Luminar is partnered with seven of the top 10 global automakers and is set to power the introduction of highway self-driving and next-generation safety systems"
"Starting in 2022, Luminar’s hardware and software will be integrated into Volvo’s global vehicle platform, the foundation for their next generation of consumer vehicles."
-Currently sitting at only about 11% off it's original $10 SPAC price, this has a lot of room to run and the merger is expected to close in Q4.
-Some press and website info:
(This well known analyst is expecting a large market wide crash and says $GMHI is a safe bet and his largest holding, wow! )
““We’re playing very defensive by buying these SPACs and there’s a very big boom,” said Lamoureux, who recommends GMHI GMHI, or Gores Metropolus — his biggest stockholding.”
https://on.mktw.net/3craqna
value of approximately $3.4 billion
Looking up here
The combined company will have an implied pro forma enterprise value of
approximately $2.9 billion and an equity value of approximately $3.4 billion at closing.
can anyone briefly explain what position is this merger going to put us stockholders in?
yes sir! great close; held every warrant.. I have a lot of time and energy in the Gores plays
have a good evening!
Much happier now!
"Starting in 2022, Luminar's hardware and software will be integrated into Volvo's global vehicle platform, the foundation for their next generation of consumer vehicles. In parallel, Luminar's technology will also enable a new benchmark for vehicle safety "
Very nice! That could be a good on!
Gores Metropoulos : August 24, 2020 – Gores Metropoulos Enters Merger Agreement with Luminar, Global Leader in Autonomous Driving Technology
08/24/2020 | 06:23am EDT
FOR IMMEDIATE RELEASE
LUMINAR, THE GLOBAL LEADER IN LIDAR AUTONOMOUS DRIVING TECHNOLOGY,
TO BE LISTED ON NASDAQ THROUGH MERGER WITH GORES METROPOULOS
• Luminar delivers the world's first lidar sensor and software to enable autonomous consumer vehicles and trucking for volume production
• Transaction proceeds will be used to accelerate commercial growth across its 50 partners and the expansion of its product roadmap for a turn-key"full-stack" highway autonomy and proactive safety ADAS solution
• Bolstered by the industry's first high-volume series production win for self-driving vehicles on highways with Volvo Cars
• Pro forma implied enterprise value of approximately $2.9 billion and market capitalization of approximately $3.4 billion
• Transaction includes $400 million of cash from Gores Metropoulos and an immediate $170 million financing into Luminar, anchored by top tier institutional investors including Alec Gores, Van Tuyl Companies, Peter Thiel, Volvo Cars Tech Fund, Crescent Cove, Moore Strategic Ventures, Nick & Jill Woodman and VectoIQ
PALO ALTO, California - August 24, 2020 - Luminar, the global leader in automotive lidar technology powering the introduction of highway autonomy, today announced it has entered into a definitive agreement to merge with Gores Metropoulos, Inc. ("Gores Metropoulos") (Nasdaq: GMHI, GMHIU and GMHIW), a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC, a global investment firm founded in 1987 by Alec Gores, and by an affiliate of Dean Metropoulos of Metropoulos
• Co. Upon completion of the transaction, the combined company will retain the Luminar Technologies, Inc. name and will remain listed on Nasdaq under the new ticker symbol "LAZR."
Founded in 2012 by CEO Austin Russell, Luminar is the leading autonomous vehicle and lidar technology company for consumer cars and trucking. Luminar is partnered with 7 of the top 10 global automakers and is set to power the introduction of highway self- driving and next-generation safety systems. Over 350 people strong, Luminar has built a new type of lidar from the chip-level up with breakthroughs across all core components. As a result, Luminar has created the only lidar sensor that meets the stringent performance, safety and cost requirements for Level 3-Level 5 autonomous vehicles. Integrating this advanced hardware with Luminar's custom developed software stack enables a turn-key autonomous solution to accelerate widespread adoption with automakers.
Starting in 2022, Luminar's hardware and software will be integrated into Volvo's global vehicle platform, the foundation for their next generation of consumer vehicles. In parallel, Luminar's technology will also enable a new benchmark for vehicle safety
surpassing today's advanced driving assistance systems (ADAS) with proactive safety features.
"This milestone is pivotal not just for us, but also for the larger automotive industry," said Austin Russell, Founder and CEO of Luminar. "Eight years ago, we took on a problem to which most thought there would be no technically or commercially viable solution. We worked relentlessly to build the tech from the ground up to solve it and partnered directly with the leading global automakers to show the world what's possible. Today, we are making our next industry leap through our new long-term partnership with Gores Metropoulos, a team that has deep experience in technology and automotive and shares our vision of a safe autonomous future powered by Luminar."
Alec Gores, CEO of Gores Metropoulos, commented, "Luminar represents a rare opportunity to invest in the leading player in autonomous driving technology for cars and trucks. We are excited to partner with a visionary founder like Austin who has developed from scratch the only lidar technology that meets the most stringent OEM specification requirements for safety and performance. Luminar is well positioned to dominate the autonomous landscape and together, we look forward to shaping the future of automotive transportation."
Transaction Overview
The combined company will have an implied pro forma enterprise value of approximately $2.9 billion and an equity value of approximately $3.4 billion at closing. After giving effect to any redemptions by the public stockholders of Gores Metropoulos, the balance of approximately $400 million cash held in Gores Metropoulos, together with the $170 million in immediate financing proceeds, will remain in the company and a portion will be used to pay transaction expenses. As part of the transaction, Luminar's stockholders will receive approximately 271.8 million shares of Gores Metropoulos common stock at closing. The $170 million investment made directly into Luminar is led by institutional investors including Alec Gores, Van Tuyl Companies, Peter Thiel, Volvo Cars Tech Fund, Crescent Cove, Moore Strategic Ventures, Nick & Jill Woodman and VectoIQ, with the majority of the major existing investors participating. Net transaction proceeds will remain in the company and support continued growth across key verticals as Luminar executes on significant production and development opportunities.
All current Luminar stockholders will roll the entirety of their existing equity holdings into the combined company. The transaction, which has been unanimously approved by the boards of directors of both Luminar and Gores Metropoulos, is expected to close in the fourth quarter of 2020, subject to regulatory and stockholder approvals, and other customary closing conditions.
Following completion of the transaction, Luminar will retain its experienced management team. Founder Austin Russell will continue to serve as CEO and Tom Fennimore will continue to serve as CFO. Alec Gores will join the Luminar board of directors upon closing of the transaction.
Luminar today also announced it has scaled its software team with the addition of 16 former members of Samsung's Munich-based DRVLINE platform team that were
previously responsible for delivering ADAS functionality to its mobility customers. Luminar will leverage this team to bring a full-stacklidar-based ADAS and Level 4 highway autonomy product offering to market.
Advisors
Deutsche Bank Securities is serving as exclusive financial advisor, lead capital markets advisor and sole private placement agent to Gores Metropoulos. Credit Suisse LLC is serving as additional capital markets advisor and Moelis & Company LLC is acting as additional financial advisor to Gores Metropoulos. Weil, Gotshal & Manges, LLP is acting as legal advisor to Gores Metropoulos.
GCA Advisors, LLC and Jefferies Group LLC are serving as financial advisors to Luminar. GCA Advisors, LLC is serving as sole private placement agent on the direct investment into Luminar and Orrick, Herrington & Sutcliffe LLP is acting as legal advisor to Luminar.
Additional information about the proposed transaction, including a copy of the merger agreement and investor presentation, will be provided in a Current Report on Form 8-K that will contain an investor presentation to be filed by Gores Metropoulos with the Securities and Exchange Commission and available at www.sec.gov.
Investor Conference Call Information
Management of Luminar and Gores Metropoulos will host an investor conference call on August 24, 2020 at 10 a.m. EDT / 7 a.m. PDT to discuss the proposed transaction. The call can be accessed by dialing (888) 820-4544 (domestic toll-free number) or (470) 279- 3876 (international) and providing the conference ID: LAZR.
The conference call will be accompanied by a detailed investor presentation. For interested investors who wish to participate, the conference call and replay details will be available in the "investor" section of the Luminar website at https://luminartech.com/investors.
About Luminar
Luminar is an autonomous vehicle sensor and software company with the vision to make autonomy safe and ubiquitous by delivering the only lidar and perception platform that meets the industry's stringent performance, safety, and economic requirements. Luminar has rapidly gained 50 industry partners, including 7 of the top 10 global automotive OEMs. Founded in 2012, Luminar is a 350-person team with offices in Palo Alto, Orlando, Colorado Springs, Detroit, and Munich. For more information please visit www.luminartech.com.
About Gores Metropoulos, Inc.
Gores Metropoulos, is a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC, a global investment firm founded in 1987 by Alec Gores, and by an affiliate of Dean Metropoulos of Metropoulos & Co. Gores Metropoulos was formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Mr. Gores and Mr. Metropoulos together have more than 65 years of combined experience as entrepreneurs, operators and investors across diverse sectors
including industrials, technology, media and entertainment, business services, healthcare and consumer products and services. Over the course of their careers, Mr. Gores and Mr. Metropoulos and their respective teams have invested in more than 180 portfolio companies through varying macroeconomic environments with a consistent, operationally-oriented investment strategy. For more information, please visit www.gores.com
Additional Information about the Transaction and Where to Find It
In connection with the proposed transaction contemplated by the merger agreement (the "Proposed Transaction"), Gores Metropoulos intends to file with the SEC a registration statement on Form S-4 (the "Registration Statement") that will include a proxy statement, consent solicitation statement and prospectus with respect to the Gores Metropoulos' securities to be issued in connection with the Proposed Transaction that also constitutes a prospectus of Gores Metropoulos and will mail a definitive proxy statement/consent solicitation statement/prospectus and other relevant documents to its stockholders. The definitive proxy statement/consent solicitation statement/prospectus will contain important information about the Proposed Transaction and the other matters to be voted upon at a meeting of stockholders to be held to approve the Proposed Transaction and other matters (the "Special Meeting") and is not intended to provide the basis for any investment decision or any other decision in respect of such matters. GORES METROPOULOS' STOCKHOLDERS AND OTHER INTERESTED PERSONS ARE ADVISED TO READ, WHEN AVAILABLE, THE REGISTRATION STATEMENT AND THE PROXY STATEMENT/ CONSENT SOLICITATION STATEMENT/ PROSPECTUS, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS THERETO, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. When available, the definitive proxy statement/consent solicitation statement/prospectus will be mailed to Gores Metropoulos' stockholders as of a record date to be established for voting on the Proposed Transaction and the other matters to be voted upon at the Special Meeting. Gores Metropoulos' stockholders will also be able to obtain copies of the proxy statement/consent solicitation statement/prospectus, without charge, once available, at the SEC's website at www.sec.govor by directing a request to: Gores Metropoulos, Inc., 9800 Wilshire Boulevard, Beverly Hills, CA 90212, attention: Jennifer Kwon Chou (email: jchou@gores.com).
Participants in Solicitation
Gores Metropoulos and its directors and officers may be deemed participants in the solicitation of proxies of Gores Metropoulos' stockholders in connection with the Proposed Transaction. GORES METROPOULOS' STOCKHOLDERS AND OTHER INTERESTED PERSONS MAY OBTAIN, WITHOUT CHARGE, MORE DETAILED INFORMATION REGARDING THE DIRECTORS AND OFFICERS OF GORES METROPOULOS IN ITS ANNUAL REPORT ON FORM 10-K FOR THE FISCAL YEAR ENDED DECEMBER 31, 2019, WHICH WAS FILED WITH THE SEC ON MARCH 13, 2020. INFORMATION REGARDING THE PERSONS WHO MAY, UNDER SEC RULES, BE DEEMED PARTICIPANTS IN THE SOLICITATION OF PROXIES TO GORES METROPOULOS' STOCKHOLDERS IN CONNECTION WITH THE PROPOSED TRANSACTION AND OTHER MATTERS TO BE VOTED UPON AT THE SPECIAL MEETING WILL BE SET FORTH IN THE REGISTRATION STATEMENT FOR THE PROPOSED TRANSACTION WHEN AVAILABLE. Additional information regarding the interests of participants in the solicitation of proxies
in connection with the Proposed Transaction will be included in the Registration Statement that Gores Metropoulos intends to file with the SEC.
Forward Looking Statements
This press release may contain a number of "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about the expected timing of the completion of this transaction, information concerning Gores Metropoulos' or Luminar's possible or assumed future results of operations, business strategies, debt levels, competitive position, industry environment, potential growth opportunities and the effects of regulation, including whether this transaction will generate returns for stockholders. These forward-looking statements are based on Gores Metropoulos' or Luminar's management's current expectations, estimates, projections and beliefs, as well as a number of assumptions concerning future events. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements.
These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Gores Metropoulos' or Luminar's management's control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (a) the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement and the Proposed Transaction; (b) the inability to complete the Proposed Transaction due to the failure to obtain approval of the stockholders of Gores Metropoulos or other conditions to closing in the merger agreement; (c) the ability to meet Nasdaq's listing standards following the consummation of the Proposed Transaction; (d) the risk that the Proposed Transaction disrupts current plans and operations of Luminar or its subsidiaries as a result of the announcement and consummation of the transactions described herein; (e) the ability to recognize the anticipated benefits of the Proposed Transaction, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees, the timing of revenues from existing customers, including uncertainties related to the ability of Luminar's customers to commercialize their products and the ultimate market acceptance of these products, the uncertain impact of the COVID-19 pandemic on Luminar's and its customers' businesses, uncertainties related to Luminar's estimates of the size of the markets for its products, the rate and degree of market acceptance of Luminar's products, and the success of other competing lidar and sensor-related products and services that exist or may become available; (f) costs related to the Proposed Transaction; (g) changes in applicable laws or regulations; (h) the possibility that Luminar may be adversely affected by other economic, business and/or competitive factors; and (i) other risks and uncertainties indicated from time to time in the final prospectus of Gores Metropoulos, including those under "Risk Factors" therein, and
other documents filed or to be filed with the SEC by Gores Metropoulos. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made.
Forward-looking statements included in this press release speak only as of the date of this press release. Except as required by law, neither Gores Metropoulos nor Luminar undertakes any obligation to update or revise its forward-looking statements to reflect events or circumstances after the date of this release. Additional risks and uncertainties are identified and discussed in the Gores Metropoulos' reports filed with the SEC and available at the SEC's website at www.sec.gov.
No Offer or Solicitation
This press release is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy any securities or the solicitation of any vote in any jurisdiction pursuant to the Proposed Transaction or otherwise, nor shall there be any sale, issuance or transfer or securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Contact Information
For inquiries regarding Luminar, please contact:
Media
Nicole Phelan press@luminartech.com
John Christiansen/Cassandra Bujarski
Sard Verbinnen & Co
Luminar-SVC@sardverb.com
InvestorsMichael Beer michaelbeer@luminartech.com
For inquiries regarding The Gores Group and affiliates, please contact:
Jennifer Kwon Chou The Gores Group jchou@gores.com
Tom Becker
Sitrick & Company
tom_becker@sitrick.com
++++++
look at this from 2 days back.. Gores Metropoulos II...
https://sec.report/CIK/0001819395
I maintain that 'I think' we see deals announced very soon from both GMHI and GHIV
gores.com has 2 existing spac's: GHIV and GMHI and 'just' filed for Gores V!
odds are 'imo' that we see deals in the short-term for ghiv and/or gmhi
https://www.sec.gov/Archives/edgar/data/1816816/000119312520195583/d891275ds1.htm
I have no idea, speculating on SPAC targets is not an easy game. But this one has an excellent pedigree!
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