Cepton’s Merger with KOITO: Cash Entitlement and Nasdaq Delisting

The latest announcement is out from Cepton (CPTN).

Cepton, Inc., a Delaware corporation, has announced a merger with KOITO MANUFACTURING CO., LTD, with the unanimous backing of its independent directors and the Board’s recommendation to shareholders to approve the deal. In this merger, each Cepton common stock will convert into a $3.17 cash entitlement, while existing equity awards will be adjusted or cancelled as per the terms set forth. Additionally, the completion of the merger will lead to the delisting of Cepton’s common stock and public warrants from the Nasdaq Stock Market. Concurrently, new employment agreements with key executives have been approved, and a significant retention bonus for the Interim Chief Financial Officer has been issued, contingent on the merger’s successful closure.

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