Cepton Technologies Is Latest Lidar Firm to Go Public via SPAC Merger - IDEX Health & ScienceIDEX Health & Science

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    Cepton Technologies Is Latest Lidar Firm to Go Public via SPAC Merger

    Article obtained from Photonics RSS Feed.

    Cepton Technologies Inc. entered a definitive business combination agreement with Growth Capital Acquisitions Corp., a publicly traded special acquisition company (SPAC), as well as related subscription agreements, for an aggregate $58.5 million private placement in connection with the business combination. Once the transaction closes, the combined company will be renamed Cepton Inc. and listed on the Nasdaq stock exchange under the ticker symbol CPTN.

    The transaction values Cepton at an enterprise value of approximately $1.5 billion on a cash-free, debt-free basis. The move, Cepton said in a press release, is expected to provide approximately $231 million in gross proceeds.

    Cepton will enter the lidar sector with particular…

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    Aug, 09 2021 |

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