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MissionIRNewsBreaks – Cepton Inc. (NASDAQ: CPTN) Advances Lidar Commercialization Amid Acquisition by Koito and Growing OEM Partnerships

Cepton (NASDAQ: CPTN) shared updates for Q3 2024, highlighting advancements in its lidar technology commercialization, with a major long-range lidar RFQ in final stages with a Top 10 global automotive OEM. Cepton’s CEO, Jun Pei, noted the company’s solid positioning in the automotive lidar market, strengthened by a pending acquisition by Koito Manufacturing Co. Ltd. and continued development with OEMs for near-range lidar. The acquisition, set at $3.17 per share in an all-cash transaction, is anticipated to close in early 2025, subject to shareholder and regulatory approvals. For Q3, Cepton reported $0.5 million in revenue, with a GAAP net loss of $10.6 million and an adjusted EBITDA of $(8.0) million.

To view the full press release, visit https://ibn.fm/GPnjt

About Cepton Inc.

Cepton is a Silicon Valley innovator of lidar-based solutions for automotive (“ADAS/AV”), smart cities, smart spaces and smart industrial applications. With its patented lidar technology, Cepton aims to take lidar mainstream and achieve a balanced approach to performance, cost and reliability, while enabling scalable and intelligent 3D-perception solutions across industries. Founded in 2016 and led by industry veterans with decades of collective experience across a wide range of advanced lidar and imaging technologies, Cepton is focused on the mass-market commercialization of high-performance, high-quality lidar solutions. Cepton is headquartered in San Jose, California, and has a center of excellence facility in Troy, Michigan, to provide local support to automotive customers in the metro Detroit metropolitan area. Cepton also has a presence in Germany to serve a fast-growing global customer base. For more information about this company, please visit www.Cepton.com.

NOTE TO INVESTORS: The latest news and updates relating to CPTN are available in the company’s newsroom at https://ibn.fm/CPTN

About MissionIR

MissionIR (“MIR”) is a specialized communications platform with a focus on assisting IR firms with syndicated content to enhance the visibility of private and public companies within the investment community. It is one of 70+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, MIR is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, MIR brings its clients unparalleled recognition and brand awareness.

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