During the Memorial Day weekend, AAA anticipates that 45.1 million Americans will travel at least 50 miles from home, highlighting an expected surge in road traffic. The article discusses various transportation companies, including Luminar, which is trying to secure $200 million through a new investment deal amid ongoing restructuring and leadership changes. Other companies like SparkCharge are also featured, including its recent fundraising success in the electric vehicle charging sector.
Luminar, the lidar startup turned SPAC, appears to be grasping for capital. The company made a deal with Yorkville Advisors Global to potentially bring in $200 million.
Luminar recently replaced its founder Austin Russell as CEO, reflecting the company's ongoing restructuring efforts—its third in a year.
#memorial-day-travel #transportation-companies #investment-deals #lidar-technology #electric-vehicles
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