AEye, a designer of LiDAR solutions for self-driving vehicles, and CF Finance Acquisition III today announced they have entered into a definitive merger agreement. The combined company will be called AEye Holdings and would list on the Nasdaq.
The transaction values AEye at a pro-forma enterprise value of $2 billion, and would deliver up to $455 million of gross proceeds consisting of up to $230 million in the SPAC’s trust and $225 million in cash from a fully subscribed PIPE offering anchored by top tier institutional and strategic investors including GM Ventures, Subaru-SBI, Intel Capital, Hella Ventures, and Taiwania Capital. Read more.
