![]() ![]() Lidar sensors, which use laser light pulses to render precise images of the environment around the car, are seen as essential by many automakers to allow higher levels of driver assistance, right up to making them capable of self-driving. Lidar peers Ouster Inc (OUST.N) and Peter Thiel-backed Luminar Technologies Inc (LAZR.O), which also took the SPAC route to get publicly listed, have lost 10% and 22% of their value, respectively, since making their market debuts.įounded in 2013 by former Lockheed Martin (LMT.N) and NASA engineer Luis Dussan, AEye is one of several firms specializing in a relatively young technology that uses light-based sensors to generate a three-dimensional view of the road.īlank-check firms, or SPACs, like CF III are shell companies that raise funds through an initial public offering to take a private company public. The companies attributed the terms of the amended deal to "changing conditions" in the automotive lidar industry. Luminar, a maker of lidar (light detection and ranging, or laser-light) systems for autonomous cars and trucks, received approximately 590 million in cash upon the completion of the transaction. That merger valued the company at approximately 2.9 billion in. Lidar peers Ouster Inc (OUST.N) and Peter Thiel-backed Luminar Technologies Inc (LAZR.O), which also took the SPAC route to get publicly listed, have lost 10 and 22 of their value. (NASDAQ: LAZR) and Luminar Technologies on Friday completed a reverse merger announced in August. ![]() ![]() In February, AEye had agreed to go public through a merger with special purpose acquisition company (SPAC) CF Finance Acquisition Corp III (CFAC.O), in a deal that valued the company at $2 billion. Luminar, which is based in Florida, went public last year via a reverse merger with a special acquisition company, or SPAC. Luminar Technologies has recently experienced a sharp decline in its stock price - dropping nearly 9.2 - after being downgraded by Goldman Sachs from a neutral rating to a sell rating. May 3 (Reuters) - AEye Inc and a blank-check firm backed by financial services company Cantor Fitzgerald on Monday amended their merger agreement, valuing the lidar sensor maker at $1.52 billion, citing valuation changes of publicly traded lidar companies. ![]()
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