Cepton, Inc. Announces Closing of $100 Million Investment from Koito Manufacturing

Jan 20, 2023

Cepton, Inc. (“Cepton”) (Nasdaq: CPTN), a Silicon Valley innovator and leader in high+performance+lidar+solutions, announced today the completion of its previously announced $100 million investment (the “Investment”) from its long-term automotive Tier 1 partner and current shareholder, Koito Manufacturing Co., Ltd. (“Koito”) (TSE: 7276) on January 19, 2023. The Investment, in the form of convertible preferred stock, was approved at a special meeting of Cepton stockholders on January 11, 2023, and is convertible, beginning on the first anniversary of the issue date, into shares of Cepton’s common stock at an initial conversion price of $2.585 per share.

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