Status: Clearance

Acquirer: KOITO MANUFACTURING CO., LTD. (Japan)

Acquired: Cepton, Inc. (U.S.)

Value: Unknown

Industry Tags: Autonomous Vehicles; Lidar; Automotive

On July 29, 2024, Cepton, Inc. (Nasdaq: CPTN) a provider of “lidar-based solutions for automotive (ADAS/AV), smart cities, smart spaces and smart industrial applications,” “signed a definitive agreement . . . providing for the acquisition by KOITO MANUFACTURING CO., LTD. . . . (TSE: 7276), a leading automotive tier one supplier, of all of the outstanding capital stock of the Company not owned by Koito for $3.17 per share in an all-cash transaction.” (Press Release, Cepton, Inc., Form 8-K, Ex-99.1, July 29, 2024, SEC Filing.) CFIUS Approval is a condition to the transaction. (Agreement and Plan of Merger, Section 8.02(c), Cepton, Inc., Form 8-K, Ex-2.1, July 29, 2024, SEC Filing.) “The final CFIUS notice was submitted on September 13, 2024 and accepted for review on September 24, 2024. At the end of the 45-day review period, the parties received confirmation that CFIUS concluded its investigation as of November 7, 2024, communicating that there are no unresolved national security issues with respect to the Transaction.” (Cepton, Inc., Schedule 14A, Nov. 21, 2024, SEC Filing.)