Cepton Technologies and Growth Capital Acquisition entered into a committed investment agreement for up to $100 million with Lincoln Park Capital Fund, a Chicago-based institutional investor. The funds would begin to flow at the close of the proposed business combination between Cepton and GCAC. Lincoln Park could buy Cepton stock up to $100 million over 36 months following the deal close.
Cepton is a Silicon Valley-based tech company focused on the mass-market commercialization of lidar solutions.
If approved, the merger transaction is expected to provide approximately $231 million in gross proceeds.
The combined company would have an enterprise value of approximately $1.5 billion on a cash-free, debt-free basis. Read more.
