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Cepton Technologies to Go Public via SPAC Merger

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Cepton Technologies Inc. entered a definitive business combination agreement with Growth Capital Acquisitions Corp., a publicly traded special acquisition company (SPAC), as well as related subscription agreements, for an aggregate $58.5 million private placement in connection with the business combination. Once the transaction closes, the combined company will be renamed Cepton Inc. and listed on the Nasdaq stock exchange under the ticker symbol CPTN. The transaction values Cepton at an enterprise value of approximately $1.5 billion on a cash-free, debt-free basis. The move, Cepton...Read full article

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    Published: August 2021
    Glossary
    lidar
    Lidar, short for light detection and ranging, is a remote sensing technology that uses laser light to measure distances and generate precise, three-dimensional information about the shape and characteristics of objects and surfaces. Lidar systems typically consist of a laser scanner, a GPS receiver, and an inertial measurement unit (IMU), all integrated into a single system. Here is how lidar works: Laser emission: A laser emits laser pulses, often in the form of rapid and repetitive laser...
    BusinessSPACspecial purpose acquisitionCepton Technologieslidarinvestmentmergermergersmergers & acquisitionsacquisitionsautomotiveADASNasdaqbusiness combinationblank check companyfinancialstockpublicpublicly tradedlight speed

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