Growth Capital Acquisition stockholders voted in favor of the business combination with Cepton Technologies, a developer of lidar-based solutions for automotive, smart cities, smart spaces and industrial applications.
Approximately 72.94% of Growth Capital’s issued and outstanding shares cast votes, and of the those, about 93.82% favored the deal.
Redemptions removed $155.9 million from the SPAC’s trust, according to a subsequent 8-K filing, or roughly 90% of the $172.5 million Growth Capital was holding.
The SPAC in November said it signed an investment agreement for up to $100 million with Lincoln Park Capital Fund. Growth Capital also has a $58.5 million PIPE anchored by Japan-based Koito Manufacturing, a Cepton investor, which fulfills the minimum cash closing condition of $58.5 million.
Cepton stock and warrants are expected to start trading on the Nasdaq following the closing under the new ticker symbols CPTN and CPTNW. Read more.
