SCHEDULE: Susquehanna Group Discloses 9.9% Stake in Luminar

A group of Susquehanna-affiliated entities has disclosed a 9.9% beneficial ownership stake in Luminar Technologies, Inc.'s Class A Common Stock.

Summary

• A group of six affiliated entities, including Capital Ventures International, Susquehanna Advisors Group, Inc., G1 Execution Services, LLC, Susquehanna Fundamental Investments, LLC, Susquehanna Portfolio Strategies, LLC, and Susquehanna Securities, LLC, collectively reported beneficial ownership of 4,725,226 shares of Luminar Technologies, Inc. Class A Common Stock.
• This aggregate ownership represents 9.9% of Luminar Technologies, Inc.'s Class A Common Stock outstanding, based on 44,684,806 shares outstanding as of June 3, 2025.
• Capital Ventures International holds 3,264,137 shares with sole voting and dispositive power, including shares issuable upon conversion of convertible notes.
• Susquehanna Securities, LLC holds 1,395,140 shares with sole voting and dispositive power, which includes options to buy 1,346,344 shares.
• The reporting persons disclaim beneficial ownership of shares owned directly by another reporting person within the group.
• Susquehanna Advisors Group, Inc. acts as the investment manager for Capital Ventures International, exercising voting and dispositive power over its shares.
• The filing is an Amendment No. 1 to a Schedule 13G, indicating an update to a previously reported beneficial ownership.

Sentiment

Score: 5

Explanation: The filing is a standard beneficial ownership disclosure (Schedule 13G) by institutional investors, indicating a passive stake. It does not contain operational or financial performance data, nor does it suggest an activist intent, leading to a neutral sentiment.

Positives

• The disclosure of a significant 9.9% stake by a group of institutional investors, including Susquehanna-affiliated entities, may signal confidence in Luminar Technologies, Inc.

Negatives

• NA

Risks

• The filing explicitly states that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, indicating a passive investment approach.

Future Outlook

NA

Industry Context

This filing is a routine disclosure of a significant passive ownership stake by institutional investors in a publicly traded company. It does not provide specific insights into broader industry trends or competitive landscape beyond the fact of investment in Luminar Technologies, Inc., a company operating in the automotive lidar and software sector.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake may be viewed positively, potentially indicating investor confidence or liquidity for a large block of shares.

Key Dates

Keywords

Luminar Technologies, LAZR, Susquehanna, Capital Ventures International, Beneficial Ownership, Schedule 13G, Institutional Investment, Class A Common Stock, SEC Filing