CF Finance Acquisition III today filed an S-4 registration outlining terms of its merger agreement with LiDAR designer AEye. The SPAC last week announced it woul value the deal on a pre-merger basis at $1.52 billion, down from the $1.9 billion at the time of the merger announcement in February.
SPAC sponsor Cantor Fitzgerald has also extended the deadline for CF III to close a business combination from May 17 to Sept. 17 by depositing an additional 10 cents per share into the SPAC’s trust account. Cantor Fitzgerald has also agreed to extend the deadline, if necessary, until Jan. 17, 2022.
Pending shareholder approval, the combined company would be called AEye Holdings. AEye shareholders have elected to retain 100 percent of their equity holdings in the combined company. Upon closing, AEye will trade on the Nasdaq under LIDR. Read more.
