Cepton, Inc. (NASDAQ: CPTN) to Solidify Its Financial Position With $100 Million Investment from Koito; Forges Ahead Toward Mass-Market Deployment of Its Lidar Technology
Nov 21, 2022
- Cepton signed binding agreement with established automotive lighting tier 1 supplier Koito for investment of $100 million to bolster its next stage of growth
- Agreement penned on October 27, 2022, marks the third investment from this long-term automotive Tier 1 partner and existing shareholder since 2020
- Lidar market expected to grow rapidly to reach $59 billion by 2030; Cepton appears to continue leading as a prominent figure, as it works toward commercialization and mass market deployment of its lidar sensors
Following a previously reported letter of intent from Koito Manufacturing Co., Ltd. (TSE:7276), Cepton (NASDAQ: CPTN) has announced that it has entered into a binding investment agreement for a $100 million investment from its long-term automotive Tier 1 partner and current shareholder (https://ibn.fm/LjTSk). This Silicon Valley innovator and leader in high-performance lidar solutions intends to use this investment — Koito’s third since 2020 — to fund the company’s next growth stage as it looks to execute its vision to scale lidar technology for mass deployment. Under the terms of the Investment Agreement, unanimously approved by Cepton’s board of directors, Koito will purchase $100 million of convertible preferred stock. This stock will be convertible, beginning on the first anniversary of the issue date, into shares of Cepton’s common stock at an approximate initial conversion price of $2.23 per share, representing a 10.0% premium to Cepton’s volume-weighted average price over the trailing 20 trading day period. As well as a 13.4% premium 14.4% 30-day VWAP and a 25.5% 90-day VWAP. The company expects to close the investment in the first quarter of 2023, subject to the approval of Cepton’s shareholders and satisfaction of relevant closing conditions. More information regarding the key terms of the investment is included in a Form 8-K that Cepton recently filed with the US Securities and Exchange Commission (https://ibn.fm/tnrlO).
Cepton and Koito have had an established history of collaboration, including one that has been crowned with notable success, such as a significant ADAS lidar series production award on the General Motors business. In September 2022, the company received a Letter of Intent for up to…
NOTE TO INVESTORS: The latest news and updates relating to CPTN are available in the company’s newsroom at https://ibn.fm/CPTN
About TinyGems
TinyGems is your guide to the best and brightest in the under-appreciated small-cap sector. As one of 50+ brands within the InvestorBrandNetwork (“IBN”), TinyGems provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN to reach millions of social media followers; and (5) a full array of corporate communications solutions. It’s time to uncover some of the best-kept secrets on Wall Street. TinyGems features innovative small-cap companies with huge potential, putting a spotlight on the best and brightest of these disruptors that have the technology, the talent, the drive, and the business models to make a huge impact in the markets and in portfolios. Whether it’s a game changing technology, a new more profitable product or service, or a star in a hot sector, TinyGems is the go-to source for actionable intelligence.
To receive SMS text alerts from TinyGems, text “Gems” to 844-397-5787 (U.S. Mobile Phones Only)
For more information, please visit https://www.TinyGems.net
Please see full terms of use and disclaimers on the TinyGems website applicable to all content provided by TinyGems, wherever published or re-published: https://www.TinyGems.net/Disclaimer
TinyGems Los Angeles, California www.TinyGems.net 310.299.1717 Office [email protected]
TinyGems is part of the InvestorBrandNetwork
More News
Digitales Trinkgeld: Jeder vierte Gast fühlt sich genötigt, mehr zu geben
Ursprünglich als Servicekomfort gedacht, setzt digitales Trinkgeld zusätzlich unter Druck. Zumindest fühlen sich viele Kunden zum Tippen genötigt, und zwar zu mehr als geplant. The post Digitales Trinkgeld: Jeder vierte Gast fühlt sich genötigt, mehr zu geben appeared first on Business Traveller.
Visit Brasil & Beautiful Destinations Launch Global Carnival Campaign at WTM London 2026
With Carnival 2027 on the horizon, Visit Brasil launched its global campaign “The heartbeat of Brazil” on Tuesday (3 November) at WTM London 2026, in partnership with Beautiful Destinations. From samba school parades to street parties known as blocos, Rio de Janeiro, Salvador, Recife and Olinda showcase different ways to experience a cultural celebration shaped by the work and creativity of their communities.
Shanghai Disney Resort Invites Guests into a World of Fairytale Enchantment
There is a special magic that arrives with the first snow at Shanghai Disney Resort—and this year, the resort is gathering all of it into one unforgettable winter celebration. From November 19, 2026, to February 20, 2027, the much-anticipated Disney Winter Frostival will bring with it lively entertainment, jolly outfits, dazzling décor, festive treats, commemorative merchandise, and special ticket offers—spanning the holidays from Christmas, New Year’s and beyond. With winter magic around every corner, families and friends will discover countless ways to create treasured memories together and become part of the fairytale themselves.
Disney+ K-drama The Perfect Lie: Yoo Yeon-seok, Seo Hyun-jin in twisty date-rape drama
Lead cast: Yoo Yeon-seok, Seo Hyun-jin Latest Nielsen rating: 1.9 per cent In The Perfect Lie, a tense Korean adaptation of the 2017 British series Liar, a cautious slice-of-life romance rapidly morphs into a dark psychological thriller about personal boundaries. Seo Hyun-jin (The Trunk) is Kang Ji-seon, a teacher struggling to adjust to her new junior school. Her empathetic nature allows her to home in on her withdrawn student Min Hyun-soo (Kang Ji-yong), who is concealing his ongoing grief...
If You Love Vacationing But Hate *Traveling*, Let These 34 Products Help
You can thank me later... View Entire Post ›
SWISS Bengaluru Flights Take Off With Nonstop Zurich Link
The airline’s Bengaluru flights operate five times a week, with the westbound service landing in Zurich at 10:50 in time for onward Lufthansa Group connections The post SWISS Bengaluru Flights Take Off With Nonstop Zurich Link appeared first on Business Traveller.
Barcelona Wine Bar: The Business Traveler’s Best-Kept Secret
Discover the antidote to the predictable business dinner; laidback, personal, and effortlessly cool The post Barcelona Wine Bar: The Business Traveler’s Best-Kept Secret appeared first on Business Traveller.
Accessibility, experiences, AI and more get WTM London off to a strong start
WTM London 2026 opened with some of the travel industry’s biggest debates taking centre stage, led by the launch of WTM’s Global Travel Report, in association with Tourism Economics, alongside a newly structured conference programme. Due to its growing popularity, the press conference launching the Global Travel Report’s findings was live streamed from the International Media Centre to all four of the event’s main stages.
Under Patagonian Spires: Where Pumas, Sheep Herding and Fine Dining Collide
Estancia Cerro Guido, a Chilean ranch that swapped puma bounties for conservation tours, offers travelers luxury experiences on the edge of the wilderness.
Leaders’ Summit highlights value of communities and public-private partnerships
Destination Leaders say working closely with heads of state, private investors and local communities are all key to generating sustainable, successful tourism growth. Speaking at the inaugural Leaders’ Summit at WTM London, the Leaders highlighted examples from their own destinations of multimillion-dollar infrastructure investments and community initiatives.
Meet Texas Senator-elect James Talarico’s vegan girlfriend, Brianna Menard
Results are rolling in from the 2026 US midterm elections in which the Democratic Party has won control of both chambers of Congress – the Senate and the House of Representatives – after a series of impressive victories in traditionally Republican strongholds, including Kansas and Texas. James Talarico, 37, won the Senate race in the latter state, becoming just one of several Democrats to secure historic victories that night. In doing so, he became the first Democrat Texas has elected to the...
Spanish Tourist Office launches hotel accessibility guidelines at WTM
The Spanish Tourist Office has today launched its new report ‘Supporting Choice: Good Practice Guidelines for Accessibility Information for Hotels’ at a press conference which took place at World Travel Market, London. The report is a practical framework for clear, accurate and inclusive hotel accessibility information, and sits under the Spanish Tourist Office’s new ‘Spain, a Country for All’ campaign, which aims to continue strengthening Spain’s reputation as a welcoming, innovative and accessible destination.
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.