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Date Announced: 10 Feb 2022
Latest lidar firm to list on the stock market via a special-purpose acquisition company (SPAC) arrangement.
SAN JOSE, Calif.--(BUSINESS WIRE)--Cepton Technologies, Inc. (“Cepton”), a Silicon Valley innovator and leader in high-performance MMT® lidar solutions and Growth Capital Acquisition Corp. (“GCAC”) (Nasdaq: GCAC), announced today the completion of their previously announced business combination. The combined company has been renamed Cepton, Inc. and its common stock and warrants are expected to commence trading on the Nasdaq Capital Market under the new ticker symbols “CPTN” and “CPTNW”, respectively, on Friday, February 11, 2022. The business combination was approved at a special meeting of GCAC’s stockholders on Wednesday, February 9, 2022.
“Today is a special milestone for Cepton,” said Dr. Jun Pei, Cepton’s Co-Founder and CEO. “We founded Cepton with the goal of enabling safe and autonomous transportation for everyone, and today’s announcement is another step in making that vision a reality. As a public company we remain focused on the goals of mass-market lidar adoption in consumer vehicles and expanding our market leadership position, while driving value for all of Cepton’s stakeholders.”
George Syllantavos, co-CEO of GCAC, added, “We are thrilled with the successful completion of this business combination. Cepton is a company at the forefront of technological advancements with the largest known ADAS lidar series production award in the industry and ongoing engagements with all of the Top 10 global OEMs. We are excited about the future and continuing to support the company in its public phase.”
“I am impressed by the elegant technical solutions that Cepton is bringing to the lidar industry in addressing automotive ADAS needs. I’m certain that Cepton’s solutions will gain further commercial success in automotive and other markets. Time works in Cepton’s favor now that its public life has began, and its vision is on track to materialize,” said Akis Tsirigakis, co-CEO of GCAC.
The combined company will continue to be led by Dr. Jun Pei alongside the rest of the current Cepton management team. George Syllantavos, co-CEO of GCAC, will serve as a director of Cepton.
Source: Cepton Technologies
E-mail: info@cepton.com
Web Site: www.cepton.com
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