Growth Capital Acquisition in an S-4 filing outlined terms of its proposed business combination with Cepton, a manufacturer of high performance MMT® lidar solutions.
Announed last month, terms call for Cepton to receive approximately $231 million in gross proceeds, comprised of $172.5 million from Growth Capital, assuming no redemptions, and a $58.5 million PIPE anchored by existing Cepton investor, Japan-based KOITO Manufacturing , a global Tier 1 automotive supplier.
If approved with no redemptions by the SPAC’s stockholders, upon closing Cepton would have an eterprise value of $1.5 billion and list on the Nasdaq under new ticker symbol CPTN. Read more.
