Business
Luminar Media Group (LRGR) Announces Settlement of All Outstanding Legacy Convertible Notes
Luminar Media Group (LRGR) Announces Settlement of All Outstanding Legacy Convertible Notes.
About this update from Luminar Media Group, Inc.
[{"type":"text","content":"\r\n\r\n \r\n \r\n Luminar Media Group (LRGR) Announces Settlement of All Outstanding Legacy Convertible Notes\r\n \r\n \r\n\r\n\r\nLuminar Media Group (LRGR) Announces Settlement of All Outstanding Legacy Convertible Notes\r\n\r\n\r\n\r\n\r\n\r\nMIAMI, FL / ACCESS Newswire / December 18, 2025 / Luminar Media Group, Inc. (OTCID:LRGR) (\"Luminar\" or the \"Company\"), a diversified financial technology holding company focused on revenue-based financing through its Fortun platform, today announced that it has reached a comprehensive settlement with holders of its outstanding legacy convertible notes originating from the Luminar acquisition.\r\n The legacy notes carried an aggregate principal balance of $391,590.85, which under their original terms were convertible at $0.01 per share, representing a potential issuance of 39,159,084 shares.\r\n After extensive negotiations, the Company is pleased to announce that it has entered into a settlement under which all outstanding legacy notes have been fully satisfied and extinguished. Pursuant to the terms of the settlement, noteholders received a cash payment for the amounts due under the notes (principal plus interest) and an aggregate of 7,900,210 shares, representing a reduction of approximately 79.8% from the number of shares that would have otherwise been issuable under the original conversion terms.\r\n In addition, as part of the settlement, all legacy note investors have agreed to a six-month lock-up period following any future listing of Luminar's common stock to a national exchange. Accordingly, no immediate additional free-trading shares were created as a result of this settlement.\r\n \"Resolving these historical liabilities represents an important milestone, \" said Yoel Damas, President and Chief Executive Officer of Luminar Media Group, Inc. \"This global settlement removes a legacy overhang from our cap table, reduces potential dilution by nearly 80%, and simplifies our capital structure.\"\r\n This resolution completes Luminar's previously announced initiative to settle all $0.01 convertible notes associated with the Luminar acquisition, further strengthening its capital structure.\r\n About Luminar Media Group, Inc.\r\n Luminar Media Group, Inc. (OTC:LRGR) is a diversified financial holding company focused on revenue-based financing solutions through its Fortun family o...