CF Finance Acquisition III Registration Statement on $1.52B AEye Deal Now Effective

CF Finance Acquisition III

CF Finance Acquisition III said the SEC has declared effective its registration statement and proxy on the pending business combination with AEye, a provider of active LiDAR systems.

A shareholder vote on the deal is set for Aug. 12.

The business combination is expected to deliver up to $455 million of gross proceeds to AEye, including up to $230 million of cash held in CF III’s trust account and up to $225 million from a fully committed PIPE anchored by strategic and institutional investors.

CF III and Aeye amended the merger agreement in May to reflect a 20% reduction in valuation due to valuation changes of publicly traded lidar companies and changing conditions in the automotive lidar industry. The deal is now valued on a pre-merger basis at $1.52 billion, down from the $1.9 billion at the time of the merger announcement in February. Read more.

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