$CPTN Shaping mobility together. Cepton has entered into a binding agreement with our long-term automotive Tier 1 partner and current shareholder, Koito, for a $100 million investment: cepton.com/announcements/…
#lidar #smartmobility #Investment #ADAS #autonomousvehicles
#lidar #smartmobility #Investment #ADAS #autonomousvehicles
Under the terms of the agreement, Koito will purchase $100 million of convertible preferred stock at an initial conversion price representing a 13.4% premium to Cepton’s closing price yesterday and a 7.0% premium to Cepton’s average closing price over the last five trading days.
This marks Koito’s third investment in $CPTN since 2020, and we are excited to strengthen our partnership and continue our focus on commercialization and mass-market deployment of our lidar solutions!
benzinga.com/news/22/10/294…
benzinga.com/news/22/10/294…
The investment is expected to close in the first quarter of 2023 and is subject to, among other things, approval of Cepton's shareholders. More information can be found in the press release:
businesswire.com/news/home/2022…
businesswire.com/news/home/2022…
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