Luminar Technologies, Inc. (LAZR) has announced a reverse stock split that will take effect before the market opens on November 21, 2024. The split will be at a ratio of 1-for-15, meaning that each Class A Common Share of LAZR will be converted into approximately 0.066667 new shares of the company. Following the reverse split, the option symbol for Luminar Technologies will change from LAZR to LAZR1. The company has stated that cash will be paid in lieu of fractional shares. The new CUSIP number for the post-split shares will be 550424303. The settlement of the LAZR component of the LAZR1 deliverable will be processed through the National Securities Clearing Corporation (NSCC), and the settlement of the cash portion will be delayed until the cash in lieu amount for fractional LAZR shares is determined. The Options Clearing Corporation (OCC) will require put exercisers and call assignees to deliver the appropriate cash amount once this is determined.

Luminar Technologies, Inc. (LAZR) has announced a reverse stock split that will take effect before the market opens on November 21, 2024. The split will be at a ratio of 1-for-15, meaning that each Class A Common Share of LAZR will be converted into approximately 0.066667 new shares of the company. Following the reverse split, the option symbol for Luminar Technologies will change from LAZR to LAZR1. The company has stated that cash will be paid in lieu of fractional shares. The new CUSIP number for the post-split shares will be 550424303. The settlement of the LAZR component of the LAZR1 deliverable will be processed through the National Securities Clearing Corporation (NSCC), and the settlement of the cash portion will be delayed until the cash in lieu amount for fractional LAZR shares is determined. The Options Clearing Corporation (OCC) will require put exercisers and call assignees to deliver the appropriate cash amount once this is determined.