Cepton, Inc. announces closing of $100 million investment from Koito Manufacturing
23 January 2023
Cepton, Inc. a Silicon Valley innovator and leader in high-performance lidar solutions , today announced the completion of its previously announced $100 million investment of its long-term Tier 1 automotive partner and current shareholder, Koito Manufacturing Co., Ltd. on January 19, 2023. The investment, in the form of convertible preferred stock, was approved at a special meeting of Cepton shareholders on January 11, 2023, and is effective as of the first anniversary of the issue date convertible into Cepton common stock at an initial conversion price of $2.
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