Growth Capital (NASDAQ: GCAC), a publicly traded special purpose acquisition company listed on Feb. 2, 2021, recently announced its entry into a definitive business combination agreement with Cepton Technologies Inc., a Silicon Valley innovator and leader in high performance Micro Motion Technology (“MMT”(R)) lidar solutions. “Upon closing of the transaction, the combined company will be renamed ‘Cepton Inc.’ and is expected to be listed on the Nasdaq stock exchange under new ticker symbol CPTN,” reads a recent article. “Cepton Technologies Inc. is a provider of state-of-the-art, intelligent, lidar-based solutions serving a range of markets, including automotive (‘ADAS/AV’), smart cities, smart spaces and smart industrial applications. General Motors (NYSE: GM) has granted a series production award for Cepton’s lidar, the biggest such award to date in the automotive space. Cepton’s is the lidar component of GM’s Ultra Cruise autonomous driving platform. By leveraging its patented MMT lidar platform, the company develops reliable, scalable and cost-effective solutions that deliver long-range, high-resolution 3D perception for smart applications.”
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About Growth Capital Acquisition Corp.
GCAC is a Delaware blank check company, also commonly referred to as a special purpose acquisition company (or “SPAC”), formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities in any industry or geographic region. GCAC is led by its co-CEOs, Akis Tsirigakis and George Syllantavos.
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