Business Wire: Cepton, Inc. Announces Closing of US$100 Million Investment from Koito Manufacturing
January 20, 2023
Cepton, Inc., a Silicon Valley innovator and leader in high performance lidar solutions, announced the completion of its US$100 million investment it received from its long-term automotive Tier 1 partner and current shareholder, Koito Manufacturing Co., Ltd. The investment is in the form of convertible preferred stock and was approved by Cepton stockholders on January 11, 2023. Beginning on the first anniversary of the issue date, the investment is convertible into shares of Cepton’s common stock at an initial conversion price of US$2.585 per share. O’Melveny & Myers LLP serves as legal counsel to Cepton.
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