FAQ: Cepton's Acquisition by Koito Manufacturing Co. Ltd.

What is the main topic of the announcement?

The main topic is the definitive agreement for Koito Manufacturing Co. Ltd. to acquire Cepton, a Silicon Valley innovator in lidar solutions, in an all-cash transaction.

Why is this acquisition significant?

This acquisition is significant because it is expected to accelerate the commercialization of Cepton’s lidar technology by increasing the company’s financial stability and scalability, leveraging Koito’s resources and heritage.

How will the acquisition be executed?

Koito will acquire all the outstanding capital stock of Cepton not owned by itself in an all-cash transaction, with Cepton stockholders receiving $3.17 per share in cash.

Who is involved in this transaction?

Cepton (NASDAQ: CPTN) and Koito Manufacturing Co. Ltd. (TSE: 7276) are the primary parties involved, with the transaction approved by each company’s Board of Directors.

When is the transaction expected to close?

The transaction is expected to close in the first quarter of 2025, subject to necessary approvals.

What will happen to Cepton after the acquisition?

After the transaction closes, Cepton will operate as a privately held indirect subsidiary of Koito in the U.S., continuing its focus on lidar technology innovation.

What are the implications of this acquisition for Cepton’s technology?

The acquisition is anticipated to enhance the commercialization and development of Cepton’s lidar technology, supported by Koito’s engineering rigor and financial resources.

How long have Cepton and Koito been partners?

Cepton and Koito have partnered since 2017 to industrialize high-performance lidar solutions for various applications, including automotive and smart infrastructure.

Where can I find more information about this announcement?

More information can be found in the full press release available at https://ibn.fm/HC6fn.