Luminar Investor Presentation Deck
TRANSACTION OVERVIEW
TRANSACTION STRUCTURE(¹)
Business combination between Luminar Technologies, Inc. (“Luminar") and Gores Metropoulos, Inc. (Nasdaq: GMHI) ("Gores
Metropoulos" or "GM"), a publicly-traded special purpose acquisition company
$170 million financing directly into Luminar (the "Series Financing") which was fully committed at transaction signing (August
24, 2020) and funded immediately, 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 VectolQ
Proxy has been declared effective and the GM shareholder vote will be held on December 1, 2020
Closing expected shortly after GM shareholder meeting, following which GM will be renamed Luminar and listed on Nasdaq
under the new ticker symbol "LAZR"
VALUATION
Fully diluted pro forma equity value of ~$3.4 billion (assuming $488 million in net cash at closing)
Existing Luminar shareholders will roll the entirety of their existing equity holdings into the combined company and are expected
to receive ~80% of the pro forma equity(2)
CAPITAL STRUCTURE
Funded by a combination of GM cash held in a trust account, and proceeds from the Series X Financing
Transaction will result in $520 million of cash on the balance sheet to fund growth (2)
¹ Existing Luminar shareholders to receive an earnout to vest over 6 share price hurdles (approximately 4.3M shares at each of the following share prices): $13.00, $16.00, $19.00, $22.00, $25.00, $28.00.
2 Assumes no redemptions by GM's existing public shareholders and before impact of warrants and earnout. Pro forma ownership of 80% excludes Series X investment.
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