Cepton enters into a merger agreement with growth capital

Car home 2021-08-07 07:44:48 阅读数:739

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cepton enters merger agreement growth

[ Car home   industry ]  recently , We learned from the authorities that ,Cepton And Growth Capital Sign the final business merger agreement , And the total amount is 5850 $million private placement related subscription agreement ( hereinafter referred to as “PIPE”). Upon completion of the transaction , The merged company will be renamed “Cepton, Inc” Listed on the NASDAQ Exchange , The new stock code is “CPTN”.

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Through and with Cepton Transactions ,Growth Capital To enter the field of lidar , Special attention will be paid to advanced driving assistance systems for mass market passenger cars . meanwhile ,Cepton CEO 、 Co founder Dr. Pei Jun and Cepton Chief technical officer 、 cofounder Mark McCord Doctor in Cepton Formed a team composed of senior people in the industry , Relying on the deep professional knowledge of lidar and optical technology of team members , Develop the deployment of advanced LiDAR sensors for the automotive market .

According to the terms of the merger agreement ,Cepton Shareholders will Growth Capital The consideration obtained in the form of newly issued common shares , Its value is based on Cepton With no cash 、 Without debt 15 $billion corporate valuation . Upon completion of the transaction , The estimated equity value of the combined company is about 18 Billion dollars , Among them are about 2.31 A total investment of $billion , Include Growth Capital Held on trust assuming no redemption 1.725 US $100 million , as well as 5850 Million by existing investors KOITO The committed common stock of the cornerstone investor PIPE investment , To meet the cash delivery conditions of the contract .

After any shareholder redeems and pays the transaction fee , from Growth Capital The original 1.725 Cash proceeds released from the $billion trust account and Growth Capital Other liabilities , Will be reserved for the merged company . Cepton The plan will use total cash income to accelerate the company's growth strategy , Including reaching mass production and design project orders with the top ten car manufacturers in the world .

Cepton The board and Growth Capital The board of directors unanimously approved the business merger agreement , To obtain Growth Capital Shareholder approval , And meet the final agreement and other customary closing conditions ( Including the securities and Exchange Commission ( hereinafter referred to as “SEC”) Registration statement declared effective , Regulatory approval , And the listing of the securities of the merged company approved by the Nasdaq stock market ). After the above conditions are met , The business combination is expected to take place in 2021 Completed in the fourth quarter of .( compile / Car home Xue Lian Zhang )

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