Cepton, Inc. Stockholders Approve Issuance of Preferred Stock For Koito Manufacturing’s $100 Million Investment
Cepton, Inc. (“Cepton”) (Nasdaq: CPTN), a Silicon Valley innovator and leader in high performance lidar solutions , announced today that its stockholders voted to approve the issuance of 100,000 shares of Series A Convertible Preferred Stock (the “Preferred Stock”) to Koito Manufacturing Co., Ltd. (“Koito”) (TSE: 7276) for $100 million (the “Investment”), in accordance with the terms of the Investment Agreement, dated October 27, 2022, by and between Cepton and Koito.
- Cepton, Inc. (“Cepton”) (Nasdaq: CPTN), a Silicon Valley innovator and leader in high performance lidar solutions , announced today that its stockholders voted to approve the issuance of 100,000 shares of Series A Convertible Preferred Stock (the “Preferred Stock”) to Koito Manufacturing Co., Ltd. (“Koito”) (TSE: 7276) for $100 million (the “Investment”), in accordance with the terms of the Investment Agreement, dated October 27, 2022, by and between Cepton and Koito.
- The proposal to issue the Preferred Stock was approved by stockholders voting at Cepton’s special meeting of shareholders held virtually on January 11, 2023.
- The Investment is expected to close on January 19, 2023.
- The final voting results for the special meeting will be included in a Form 8-K to be filed by Cepton with the Securities and Exchange Commission.