On May 21, 2025, Luminar Technologies, a leading global automotive technology company, announced it has entered into a definitive agreement to issue up to $200 million of convertible preferred stock to YA II PN, Ltd. and another accredited investor over an 18-month period. Wilson Sonsini Goodrich & Rosati advised D. Boral Capital as the exclusive placement agent on the transaction.

Under the terms of the agreement, Luminar's initial issuance will be $35 million, with additional tranches of up to $35 million available every 60 days, subject to certain conditions. The funds are intended for general corporate purposes and debt retirement.

The Wilson Sonsini team that advised D. Boral Capital on the transaction included Rob Suffoletta, Nathan Robinson, and Holly Hafford.

For more information, please see Luminar's news release.