Cepton (NASDAQ: CPTN), a Silicon Valley innovator and leader in high-performance lidar solutions, has received a nonbinding indication of interest from Koito Manufacturing Co. Ltd. Koito indicated an interest in acquiring 100% of the outstanding shares of the company not already owned by Koito or certain other potential rollover participants; those participants include Cepton president and CEO Dr. Jun Pei. The terms of any potential agreement between the two companies would be based on certain conditions, which were outlined in the announcement. The announcement noted that Cepton’s board of directors will carefully evaluate Koito’s indication of interest. “No assurance can be given that a definitive transaction with respect to Koito’s indication of interest or any other potential transaction will eventually be consummated,” the announcement stated. “Cepton does not intend to make any further announcements about any of the various alternatives that are being evaluated unless and until Cepton’s board of directors and/or the special committee has approved a specific transaction or otherwise determines that further disclosure is appropriate or necessary.”
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About Cepton Inc.
Cepton is a Silicon Valley innovator of lidar-based solutions for automotive (“ADAS/AV”), smart cities, smart spaces and smart industrial applications. With its patented lidar technology, Cepton aims to take lidar mainstream and achieve a balanced approach to performance, cost and reliability, while enabling scalable and intelligent 3D-perception solutions across industries. Founded in 2016 and led by industry veterans with decades of collective experience across a wide range of advanced lidar and imaging technologies, Cepton is focused on the mass-market commercialization of high-performance, high-quality lidar solutions. Cepton is headquartered in San Jose, California, and has a center of excellence facility in Troy, Michigan, to provide local support to automotive customers in the metro Detroit area. Cepton also has a presence in Germany, Canada, Japan, India and China to serve a fast-growing global customer base. For more information about this company, please visit www.Cepton.com.
NOTE TO INVESTORS: The latest news and updates relating to CPTN are available in the company’s newsroom at https://ibn.fm/CPTN
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