Growth Capital Acquisition Corp. (NASDAQ: GCAC), Cepton Technologies Partner in Upcoming Lidar SPAC Merger

Rhea-AI Summary

Growth Capital Acquisition Corp. (NASDAQ: GCAC) has been featured in an editorial by NetworkNewsWire, highlighting opportunities in autonomous driving and LiDAR technology. The article discusses the upcoming public listing of Cepton Technologies, which is merging with GCAC. Cepton has secured a sole-source agreement with General Motors for LiDAR sensors in multiple models from 2023 to 2027, signaling strong demand from major automotive OEMs.

Positive

• Cepton Technologies to go public through a merger with GCAC, potentially increasing investor interest.
• Cepton's sole-source agreement with General Motors for LiDAR indicates strong market positioning and demand.
• Engagement with top-10 automotive OEMs could lead to significant business growth.

Negative

• None.

NEW YORK, Jan. 19, 2022 (GLOBE NEWSWIRE) -- via InvestorWire — Growth Capital Acquisition Corp. (NASDAQ: GCAC) today announces its placement in an editorial published by NetworkNewsWire ("NNW"), one of 50+ trusted brands within the InvestorBrandNetwork (“IBN”), a multifaceted financial news and publishing company for private and public entities.

To view the full publication, “LiDAR Supercharges Vehicle Vision and the Transportation Transformation,” please visit: https://nnw.fm/TuFT8

It won’t be long before autonomous driving will be a standard feature on cars. The next generation of automobiles will redefine the driving experience, and investors can participate in the transportation transformation in a variety of ways, including the upcoming public listing of a leading LiDAR company, Cepton Technologies, which aims to go public early this year in a SPAC merger with Growth Capital Acquisition Corp.

Cepton was chosen by General Motors Company (GM) as its sole-source provider of lidars for the period 2023–2027, with installation of Cepton-based lidar sensors in as many as nine different models. Cepton is also in various levels of engagement with all top-10 automotive OEMs

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

About NetworkNewsWire

NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness.

NNW is where news, content and information converge.

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NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
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Editor@NetworkNewsWire.com

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FAQ

What is the significance of GCAC's merger with Cepton Technologies?

The merger is significant as it allows Cepton to go public, potentially enhancing its market reach and expanding investor opportunities in the growing LiDAR sector.

When is the Cepton Technologies merger with GCAC expected to be completed?

The merger is expected to be completed early in 2022.

How does Cepton's agreement with General Motors affect GCAC?

Cepton's agreement with GM as a sole-source provider for LiDAR boosts its credibility and market presence, which could enhance the value of GCAC shares.