Active LiDAR company to go public in yet another SPAC deal: Page 2 of 2

February 18, 2021 //By Rich Pell
Active LiDAR company to go public in yet another SPAC deal
Active LiDAR systems company AEye has announced that it has entered into a definitive merger agreement with a special-purpose acquisition company (SPAC) sponsored by financial services firm Cantor Fitzgerald.
Corp. III, and $225 million in cash from a fully subscribed private investment in public equity (PIPE) offering anchored by top tier institutional and strategic investors GM Ventures, Subaru-SBI, Intel Capital, Hella Ventures, Taiwania Capital, and other undisclosed investors to be announced.

Other AEye investors include Kleiner Perkins, Continental AG, LG Electronics, SK Hynix, Pegasus Ventures (Aisin), and Airbus Ventures.

Howard Lutnick, Chairman and CEO of CF III and Chairman and CEO of Cantor Fitzgerald says, "AEye's capital light, high margin channel business model, which leverages outsourced manufacturing, makes the company well positioned for commercial success across automotive, industrial and mobility markets. We are thrilled to partner with the company's visionary team, who have a demonstrated track record as public company executives, and who have built an enterprise-scale technology business."

Following completion of the transaction, AEye will retain its experienced management team, with Blair LaCorte as CEO, Luis Dussan as CTO and Bob Brown as CFO. The transaction is expected to close in the second quarter of 2021.


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