Cepton announced that it has signed a definitive agreement providing for the acquisition by Koito Manufacturing of all of the outstanding capital stock of the company not owned by Koito for $3.17 per share in an all-cash transaction. Cepton stockholders will receive $3.17 per share in cash, which represents a premium of approximately 25.3% to the closing price as of Friday, July 26. The material terms of the transaction will be described in Cepton’s current report on Form 8-K, which will be filed with the Securities and Exchange Commission. The proposed transaction will complement Koito’s existing sensor technology roadmap, while providing Cepton with the financial stability and scalability that are crucial to the commercialization of its lidar technology. After the transaction, Cepton will operate as a privately held indirect subsidiary of Koito in the U.S. The transaction, which has been approved by each company’s board of directors and recommended to Cepton’s stockholders by Cepton’s board of directors, is expected to close in the first quarter of 2025, subject to approval of Cepton’s stockholders representing at least a majority of the outstanding shares, regulatory approvals, and other customary closing conditions.