Cepton, Inc. Confirms Receipt of Indication of Interest From Koito Manufacturing Co., Ltd.
21 Dezembro 2023 - 6:05PM
Business Wire
Cepton, Inc. (“Cepton” or the “Company”) (Nasdaq: CPTN), a
Silicon Valley innovator and leader in high performance lidar
solutions, announced today that it has received a non-binding
indication of interest from Koito Manufacturing Co., Ltd. (“Koito”)
to acquire (the “Proposed Transaction”) 100% of the outstanding
shares of the Company not already owned by Koito or certain other
potential rollover participants including Dr. Jun Pei, Cepton’s
President and Chief Executive Officer (collectively, the “Rollover
Participants”). Koito has stated in the indication of interest that
the terms of any potential agreement between Cepton and Koito would
be contingent on certain conditions, including, in particular,
satisfactory completion of due diligence review, rollover by the
Rollover Participants, retention of key employees, negotiation and
agreement of transaction structure and transaction documents,
approval of the Proposed Transaction by the board of directors of
Koito, and approval by a simple majority vote of the outstanding
shares of Cepton.
Cepton’s Board of Directors, through a special committee thereof
(the “Special Committee”), will carefully evaluate Koito’s
indication of interest within the context of the ongoing review of
various alternatives and in consultation with any financial and
legal advisors it may retain.
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. 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.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of the “safe harbor” provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
“estimate,” “objective,” “plan,” “project,” “forecast,” “intend,”
“will,” “expect,” “anticipate,” “believe,” “seek,” “target,”
“milestone,” “designed to,” “proposed” or other similar expressions
that predict or imply future events, trends, terms and/or
conditions or that are not statements of historical matters. Cepton
cautions readers of this press release that these forward-looking
statements are subject to risks and uncertainties, most of which
are difficult to predict and many of which are beyond Cepton’s
control, that could cause the actual results to differ materially
from the expected results. These forward-looking statements
include, but are not limited to, statements regarding the Company’s
expectations regarding the indication of interest received from
Koito and uncertainty as to the pricing, timing or terms of any
transaction with Koito or any other alternative transactions. These
forward-looking statements should not be relied upon as
representing Cepton’s assessments as of any date subsequent to the
date of this press release. Accordingly, undue reliance should not
be placed upon the forward-looking statements. Cepton undertakes no
obligation to update any forward-looking statement to reflect
events or circumstances after the date on which the statement is
made or to reflect the occurrence of unanticipated events.
About Cepton
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, CA and has a center
of excellence facility in Troy, MI to provide local support to
automotive customers in the Metro Detroit area. Cepton also has a
presence in Germany to serve European customers. For more
information, visit www.cepton.com and follow Cepton on Twitter and
LinkedIn.
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version on businesswire.com: https://www.businesswire.com/news/home/20231221313706/en/
Investors: InvestorRelations@cepton.com Media: Faithy Li,
media@cepton.com
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