Brief: Cepton Technologies And Growth Capital Acquisition Corp, Enter Into Business Combination Agreement

Cepton

05/08/2021 15:29

Aug 5 (Reuters) - Growth Capital Acquisition Corp  GCAC.O :
    * CEPTON TECHNOLOGIES, INC., AN INNOVATOR IN AUTOMOTIVE ADAS
LIDAR, AND GROWTH CAPITAL ACQUISITION CORP., ENTER INTO BUSINESS
COMBINATION AGREEMENT
    * CEPTON TECHNOLOGIES - DEAL VALUES CEPTON AT AN ENTERPRISE
VALUE
OF ABOUT $1.5 BILLION ON A CASH-FREE, DEBT-FREE BASIS
    * CEPTON TECHNOLOGIES - UPON CLOSING OF TRANSACTION COMBINED
CO
WILL BE RENAMED CEPTON INC. AND WILL BE LISTED ON NASDAQ UNDER
NEW TICKER SYMBOL "CPTN"
    * CEPTON TECHNOLOGIES - DEAL IS EXPECTED TO PROVIDE ABOUT
$231
MILLION IN GROSS PROCEEDS
    * CEPTON TECHNOLOGIES - UPON CLOSING, COMBINED CO IS
EXPECTED TO
HAVE AN ESTIMATED EQUITY VALUE OF ABOUT $1.8 BILLION

Source text for Eikon:  ID:nGNX8MpM8v 
Further company coverage:  GCAC.O 

 ((Reuters.Briefs@thomsonreuters.com;))