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2017, 2018 and 2020 Warrants | 12 Months Ended
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Dec. 31, 2021
Warrants and Rights Note Disclosure [Abstract] |
2017, 2018 and 2020 Warrants | 2017, 2018 and 2020 WarrantsIn connection with the issuance of Senior Secured Notes and its subsequent amendment, refinance and partial repayments at various times through 2020, Legacy Luminar had issued warrants, the “2017 Warrants,” the “2018 Warrants” and the “2020 Warrants” (collectively “Legacy Warrants”). Legacy Luminar classified these Legacy Warrants as liabilities because the holder of the warrants were entitled to settle the warrants for SAFE instruments if the Company did not consummate a qualified financing within two years of the issuance date of the warrants, and following the issuance of Series A convertible preferred stock, the underlying shares were redeemable outside the Company’s control through deemed liquidation provisions. The Legacy Warrants were recorded at fair value with subsequent changes in fair value reflected in earnings. The change in fair value resulted in a loss of $27.3 million and $0.3 million during the years ended December 31, 2020 and 2019, respectively. Upon closing of the Business Combination, the Legacy Warrants were exercised for 1,466,155 shares of Class A common stock. No Legacy Warrants have been outstanding since December 31, 2020.

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