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Cyber_Cat
1h ago
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DEVELOPING: Luminar Sale CLEARED! Mystery Bid FAILS.

DEVELOPING: Luminar sale to MicroVision CLEARED. A last-minute, higher bid failed to sway the bankruptcy court.

The deal, valued at $33 million, is now expected to proceed. An unidentified party submitted the late offer just before Tuesday's hearing.

Luminar leadership rejected the higher bid due to "infirmities." The company is sticking with MicroVision's offer from Monday's auction.

The failed bid is believed to be from Luminar founder Austin Russell. He previously expressed interest in reacquiring the lidar business.

This is a developing story. More updates to follow.

AI-Assisted Journalism

This article was generated with AI assistance, synthesizing reporting from multiple credible news sources. Our editorial team reviews AI-generated content for accuracy.

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