Growth Capital Acquisition Corp. (NASDAQ: GCAC), Cepton Technologies Planning Move to Go Public

Rhea-AI Summary

Growth Capital Acquisition Corp. (NASDAQ: GCAC) announced the availability of a broadcast titled, “LiDAR Supercharges Vehicle Vision and the Transportation Transformation.” LiDAR technology, originally developed by NASA, is set to enhance autonomous driving capabilities. GCAC, a special purpose acquisition company, is moving forward with its acquisition of Cepton Technologies, a leader in the LiDAR space, known for its partnership with General Motors. This transaction is anticipated to close early in the first quarter of 2022, allowing Cepton to trade publicly under the ticker CPTN.

Positive

• Acquisition of Cepton Technologies positions GCAC in the growing LiDAR market.
• Strategic partnership with General Motors enhances credibility and potential for revenue growth.
• Expected public listing under CPTN could increase visibility and investment opportunities.

Negative

• Integration challenges may arise post-acquisition.
• -

NEW YORK, Jan. 21, 2022 (GLOBE NEWSWIRE) -- NetworkNewsAudio – Growth Capital Acquisition Corp. (NASDAQ: GCAC) announces the availability of a broadcast titled, “LiDAR Supercharges Vehicle Vision and the Transportation Transformation.”

To hear the AudioPressRelease, please visit: The NetworkNewsAudio News Podcast

To view the full editorial, please visit: https://nnw.fm/TuFT8

To say LiDAR is space-age technology is completely accurate. It was developed by NASA to monitor satellites and measure distances in space before it found its way into the automotive industry where the technology continues to evolve and become miniaturized and less expensive. While still early in the tech’s existence, the possibilities are becoming realities in what LiDAR can do for autonomous driving in the future.

Growth Capital Acquisition Corp. (NASDAQ: GCAC) is a special purpose acquisition company, or SPAC for short, incorporated for the purpose of acquiring an operating company with an enterprise value in the range of $400 million to $1.5 billion. The blank check company found its target late in 2021 in Cepton Technologies, a pioneer in the LiDAR space that made a name for itself with an exclusive deal with General Motors integrating with GM’s vaunted Ultra Cruise ADAS (advanced driver assistance systems). The transaction to make Cepton a public entity trading on the Nasdaq under the ticker CPTN is expected to close early this quarter.

About Growth Capital Acquisition Corp.

GCAC is a Delaware blank-check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities in any industry or geographic region. GCAC is led by its co-CEOs, Akis Tsirigakis and George Syllantavos.

For more information about the company, visit www.GCACorp.com.

NOTE TO INVESTORS: The latest news and updates relating to GCAC are available in the company’s newsroom at https://ibn.fm/GCAC

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FAQ

What is the purpose of Growth Capital Acquisition Corp.'s acquisition of Cepton Technologies?

The acquisition aims to enhance Growth Capital Acquisition Corp.'s position in the LiDAR market and capitalize on the growing demand for autonomous driving technology.

When is the acquisition of Cepton Technologies expected to close?

The acquisition is expected to close early in the first quarter of 2022.

What will be the new ticker symbol for Cepton Technologies after the merger?

Cepton Technologies will trade publicly under the ticker symbol CPTN after the merger.

What are the implications of the partnership between Cepton Technologies and General Motors?

The partnership strengthens Cepton's market position and provides access to advanced driver assistance systems, which could lead to increased revenue opportunities.

How does LiDAR technology impact the future of autonomous vehicles?

LiDAR technology significantly enhances vehicle perception, enabling better navigation and safety for autonomous vehicles, thereby driving industry innovation.