Quantum Computing Inc. (NasdaqCM:QUBT) entered into a stock purchase agreement to acquire Luminar Semiconductor, Inc. from Luminar Technologies, Inc. (NasdaqGS:LAZR) for $110 million on December 15, 2025. Concurrent with this announcement, Luminar Semiconductor, Inc's parent Luminar announced that it has initiated voluntary chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas. Luminar Semiconductor, Inc is not a debtor in Luminar's chapter 11 cases and is operating in the ordinary course. Because Luminar Semiconductor, Inc is a subsidiary of Luminar, the transaction will require the approval of the bankruptcy court pursuant to a Section 363 sale process. Quantum Computing Inc has agreed to be the proposed stalking horse bidder for Luminar Semiconductor, Inc in connection with the bankruptcy cases and, in this capacity, will be entitled to customary bid protections. Subject to Bankruptcy Court approval, in the event that Buyer is not the successful bidder at the auction, Buyer may be entitled to a break-up fee equal to 3% of the Purchase Price. The Stock Purchase Agreement also contains a post-closing escrow of $11 million, to be held for a period of twelve months, as the Quantum Computing Incr?s sole recourse against the Company in the event of the breach of certain representations and warranties.

The parties anticipate closing the transaction subject to the satisfaction of customary closing conditions, including receipt of the bankruptcy court approval, which the parties expect to receive by the end of January 2026.

Houlihan Lokey Capital, Inc. acted as financial advisor to Quantum Computing Inc. Jefferies LLC acted as financial advisor Luminar Technologies, Inc. David H. Hu Erik F. Franks, Stephen B. Strain, Caz Hashemi, Jahna Hartwig, Timothy (Tim) Cox, Seth Cowell, Joshua F. Gruenspecht, Matthew (Matt) Staples, James P. McCann, Matt Gorman, Barath R. Chari, James G. Clessuras, Michael J. Montfort, Sriram Krishnamurthy, Camila Chabayta, Allurie Kephart, Adrian S. Broderick, Ryan J. Greecher, Kimberley Biagioli, Deirdre Carroll, Michelle Yost Hale, Jamillia P. Ferris, Joy Cheng, Myra A. Sutanto Shen, Erin Fay, David Sharon, Catherine V. Riley Tzipori, Mark P. Holloway and Martin W. Korman of Wilson Sonsini Goodrich & Rosati, P.C acted as legal advisor to Quantum Computing Inc. Ronit Berkovich, Gavin Westerman and Amanda Fenster of Weil, Gotshal & Manges LLP acted as legal advisor for Luminar Technologies, Inc.

Quantum Computing Inc. (NasdaqCM:QUBT) completed the acquisition of Luminar Semiconductor, Inc. from Luminar Technologies, Inc. (NasdaqGS:LAZR) on February 2, 2026.