TinyGemsBreaks — Cepton Inc. (NASDAQ: CPTN) CCO Talks Industrializing Lidar with Automotive Programs, Company’s Reverse Stock Split Takes Effect

Company: Cepton Inc. (CPTN)
Category: News

Cepton (NASDAQ: CPTN), a Silicon Valley innovator and leader in high-performance lidar solutions, is in the spotlight. Cepton’s new chief commercial officer Mitch Hourtienne was a guest during a recent Proactive Investors interview. During the interview, Hourtienne, who has been serving as Cepton senior vice president, and Proactive Investors host Steve Darling discussed his 20-year-plus journey to Cepton as well as his new responsibilities. Hourtienne has worked at several companies, including Sensata, Freescale Semiconductor, Infineon Technologies and Siemens VDO Automotive. Hourtienne explained that at Cepton, he has been involved in securing the company’s flagship ADAS lidar series production contract with General Motors while also strengthening the company’s partnership with Koito Manufacturing Co, a world-leading tier 1 supplier. In his new COO role, he will continue to oversee the company’s business development, product management and marketing teams. The company also announced that its common stock will begin trading on a split-adjusted basis today. The company has previously announced the 1-for-10 reverse stock split of its common stock, noting that the shares will trade under the existing symbol: CPTN.

“The reverse stock split affected all issued shares of common stock,” the company stated in the press release. “As a result of the reverse stock split, every 10 shares of common stock issued as of the effective time were automatically combined into one share of common stock. No fractional shares were issued as a result of the reverse stock split. Stockholders who would otherwise be entitled to a fractional share of common stock are instead entitled to receive a cash payment (without interest) in an amount equal to their respective pro rata share of the total proceeds of the sale of the aggregated fractional shares net of any brokerage and other costs incurred to sell such shares. The reverse stock split affected all stockholders uniformly and did not alter any stockholder’s percentage interest in the company’s outstanding common stock, except for adjustments that may result from the treatment of fractional shares, as described above.”

To view the Proactive interview, visit https://ibn.fm/1jW8q

To view the full press release, visit https://ibn.fm/ikM4b and https://ibn.fm/lQXTK

About Cepton Inc.

Cepton is a Silicon Valley innovator of lidar-based solutions for automotive (“ADAS/AV”), smart cities, smart spaces and smart industrial applications. With its patented lidar technology, Cepton aims to take lidar mainstream and achieve a balanced approach to performance, cost and reliability, while enabling scalable and intelligent 3D-perception solutions across industries. Cepton has been awarded a significant ADAS lidar series production award with Koito on the General Motors Business. Cepton is also engaged with all top 10 global OEMs. Founded in 2016 and led by industry veterans with decades of collective experience across a wide range of advanced lidar and imaging technologies, Cepton is focused on the mass market commercialization of high-performance, high-quality lidar solutions. Cepton is headquartered in San Jose, California, and has a center of excellence facility in Troy, Michigan, to provide local support to automotive customers in the metro Detroit area. Cepton also has a presence in Germany, Canada, Japan, India and China to serve a fast-growing global customer base. For more information about this company, please visit www.Cepton.com.

NOTE TO INVESTORS: The latest news and updates relating to CPTN are available in the company’s newsroom at https://ibn.fm/CPTN

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