Luna Innovations Enters into Definitive Agreement to be Acquired by TJC

About this update from Luna Innovations, Inc.

Stockholders to receive $1.39 per share in cash Represents a premium of approximately 26% to Luna's 60-day volume-weighted average trading price Transaction expected to close in the second half of 2026, subject to stockholder approval and other customary closing conditions BLACKSBURG, Va., June 26, 2026--(BUSINESS WIRE)--Luna Innovations Incorporated (OTCMKTS: LUNA) ("Luna" or the "Company"), a global leader in advanced fiber optic-based technology, today announced that it has signed a definitive agreement (the "Merger Agreement") with Ascend Parent, LLC ("Parent"), a Delaware limited liability company affiliated with TJC, L.P. ("TJC"), pursuant to which TJC will acquire 100% of Luna (the "Transaction"). Under the terms of the Merger Agreement, each outstanding share of the Company's common stock will be converted into the right to receive $1.39 in cash, without interest (the "Merger Consideration"). "This agreement enhances Luna's ability to achieve our mission of solving our customers' most urgent problems using our mastery of light. The transaction would close our chapter as a publicly traded company and provide access to the industrial and financial experience and foundation of the TJC platform. We believe this combination strengthens our commitment to our loyal customers and provides greater opportunities for our employees and suppliers," said Kevin Ilcisin, President and Chief Executive Officer of Luna. Erik Fagan, Partner and Head of Industrial Technology at TJC, said, "Luna manufactures specialized, highly engineered, and mission-critical products for optical applications across a wide spectrum of industrial technology end markets. We have structured our all-equity transaction to support the growth and investment needed to meet customers' growing demand and to continue delivering innovative products that improve their performance and efficiency." Robbie Redmond, Partner at TJC, added, "We are excited to partner with Kevin and the entire Luna management team. Luna's dedicated employees have built a remarkable foundation in fiber optic-based measurement technology, and we look forward to investing behind their leadership—supporting the team as they scale the business, advance their product portfolio, and deliver even greater value to the customers who depend on Luna." Transaction Overview The Transaction is subject to approval by the holders of a ma...

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