Orrick Advises Luminar on $3.4 Billion SPAC Merger with Gores Metropoulos

August.25.2020

Orrick has advised Luminar Technologies, a leading lidar autonomous driving technology company, on its merger with Gores Metropoulos, a special purpose acquisition company sponsored by an affiliate of The Gores Group and by an affiliate of Dean Metropoulos of Metropoulos & Co. Upon completion of the transaction, the combined company will retain the Luminar name and will remain listed on Nasdaq under the new ticker symbol “LAZR.”

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. 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.

The Orrick team advising Luminar includes Daniel Kim, Mitch Zuklie, Hari Raman, Albert Vanderlaan, Steve Malvey, Jason Flaherty, David Benhamou, Brian Blood, Sabrina Benyammi and Kathryn Montalvo.

 

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