Global Legal Chronicle: Cepton’s US$100 Million Investment

O’Melveny represented Cepton, Inc., a Silicon Valley innovator and leader in high performance lidar solutions, in connection with a US$100 million investment it received from its long-term automotive Tier 1 partner and current shareholder, Koito Manufacturing Co., Ltd. The transaction was announced on October 27 and is expected to close in the first quarter of 2023, subject to further approval and other closing conditions. Under the terms of the agreement, Koito will purchase US$100 million of convertible preferred stock. The O’Melveny team advising Cepton was led by partners Ryan Coombs and Silicon Valley Office Head Paul Sieben, as well as associates Kristina Bergess and Arthur Souza Rodrigues.