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Cepton Technologies, Inc. and Growth Capital Acquisition Corp. (GCAC) have completed their business combination, resulting in the new entity named Cepton, Inc. The combined company will start trading on Nasdaq under the symbols 'CPTN' and 'CPTNW' as of February 11, 2022. This merger aims to enhance Cepton's market presence in high-performance lidar solutions for automotive and smart city applications, leveraging partnerships with leading global OEMs. The leadership will remain intact, with Dr. Jun Pei continuing as CEO.
Growth Capital Acquisition Corp. (NASDAQ: GCACU, GCAC, GCACW) announced that stockholders approved the business combination with Cepton Technologies, Inc., a lidar solutions developer, during a Special Meeting on February 9, 2022. Approximately 72.94% of shares voted, with 93.82% in favor. The merger is poised for completion soon, after meeting final conditions, with the new company to be named "Cepton, Inc." The common stock and warrants will start trading under new ticker symbols "CPTN" and "CPTNW" on the Nasdaq Capital Market.
Special Meeting Scheduled for February 9, 2022
Growth Capital Acquisition Corp. (NASDAQ: GCACU, GCAC, GCACW) announced that the SEC declared effective its registration statement on Form S-4 for a special meeting to consider a proposed business combination with Cepton Technologies, Inc., a lidar solutions developer. The meeting, set for February 9, 2022, will allow stockholders to vote on this combination, aiming for a listing under the ticker symbols “CPTN” and “CPTNW.” Stockholders of record as of January 13, 2022, are eligible to vote.
Cepton Technologies, a leader in high-performance MMT® lidar solutions, has announced a virtual investor day event on January 27, 2022, from 12:00 p.m. ET to 2:00 p.m. ET. The management will discuss industry trends and provide updates on its pending merger with Growth Capital Acquisition Corp (GCAC) (Nasdaq: GCAC), aimed at closing in Q1 2022. Following the merger, the combined entity will be named 'Cepton, Inc.' and listed as 'CPTN' on Nasdaq. The event will be accessible via a live webcast on Cepton's investor relations page.
Cepton Technologies, a leader in high-performance MMT® lidar solutions, announced the participation of CEO Dr. Jun Pei and CFO Dr. Winston Fu in the Baird 2022 Vehicle Technology and Mobility Conference on January 25, 2022, at 1:10 p.m. ET. They will present virtually, and investor meetings will also be hosted during the conference dates. The webcast link and additional investor materials are available on Cepton's website. Cepton, headquartered in San Jose, CA, focuses on automotive, smart cities, smart spaces, and industrial applications, aiming to bring lidar to mainstream markets.
Cepton Technologies, a Silicon Valley lidar innovator, announced the cancellation of its in-person participation at CES 2022 due to rising Covid-19 cases. Instead, the company will hold online discussions to showcase its lidar portfolio, including the award-winning Nova and Vista-X90 sensors designed for advanced driver assistance systems (ADAS). Nova, recognized as a CES 2022 Innovation Award honoree, provides a 360° view for safety, while Vista-X90 received a major production contract from a leading automotive OEM.
Cepton Technologies has entered into a $100 million committed investment agreement with Lincoln Park Capital Fund, effective upon the completion of its merger with Growth Capital Acquisition Corp (GCAC). Following the merger, the new entity will be named Cepton Inc. and trade under ticker CPTN. The agreement allows the new Cepton to direct LPC to purchase stock over 36 months, strengthening liquidity for growth opportunities. This transaction is subject to SEC regulations and does not impose restrictions on the use of proceeds.
Cepton Technologies, a leader in lidar technology, announced its participation in key investor conferences: J.P. Morgan's Global Technology Conference on November 15, 2021, Craig-Hallum's Alpha Select Conference on November 16, and Barclays' Automotive and Mobility Tech Conference on November 18, 2021. CEO Dr. Jun Pei and CFO Dr. Winston Fu will represent the company at these events. Cepton aims to drive the commercialization of high-performance lidar solutions across various sectors, including automotive and smart cities. The company is backed by the largest ADAS lidar production award in the industry.
Cepton Technologies is merging with Growth Capital Acquisition Corp (Nasdaq: GCAC), valuing Cepton at approximately $1.5 billion. This follows Cepton's achievement of the largest ADAS lidar series production award from a leading automotive OEM, gearing up for deployment in 2023. Post-merger, the newly named Cepton Inc. will trade under ticker CPTN, with expected gross proceeds of about $231 million, partly from a PIPE investment by KOITO Manufacturing. This strategic move is aimed at expanding Cepton's lidar technology in the mass market, enhancing vehicle safety.
Growth Capital Acquisition Corp. (NASDAQ: GCACU) announced that starting March 22, 2021, 17,250,000 IPO units can be separated into Class A common stock and warrants. The separated entities will trade on the Nasdaq Capital Market under symbols GCAC and GCACW. Unseparated units will continue to trade as GCACU. The SEC has declared effective a registration statement for these securities. Growth Capital, a SPAC formed for mergers and acquisitions, is led by Co-CEOs Akis Tsirigakis and George Syllantavos, with backing from HB Strategies LLC.
