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    CPTN   US15673X1019

CEPTON, INC.

(CPTN)
  Report
End-of-day quote Nasdaq  -  2023-01-30
1.210 USD   +3.42%
01/31Cepton, Inc. to Participate in Baird Vehicle Technology and Mobility Conference and Citi Global Industrial Tech and Mobility Conference
AQ
01/30Cepton, Inc. to Participate in Baird Vehicle Technology & Mobility Conference and Citi Global Industrial Tech & Mobility Conference
BU
01/24Cepton, Inc. : Entry into a Material Definitive Agreement, Termination of a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Unregistered Sale of Equity Securities, Material Modification to Rights of Securi..
AQ
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CEPTON, INC. : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)

11/14/2022 | 06:41am EST

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

As disclosed in the Current Report on Form 8-K filed by Cepton, Inc. (the "Company") on October 27, 2022, the Company entered into an Investment Agreement with Koito Manufacturing Co., Ltd. (the "Investor"). The Investment Agreement contemplates that a member of the Company's board of directors, to be mutually agreed upon by the Company, the Investor and such director, will submit a conditional letter of resignation, pursuant to which such director will resign their office as a director of the Company, effective as of the Closing Date (as defined in the Investment Agreement) and conditional upon the occurrence of the Closing (as defined in the Investment Agreement). Following execution of the Investment Agreement, the Company, the Investor and Winston Fu, a member of the Company's board of directors, agreed that Dr. Fu would resign in satisfaction of the Company's obligations under the Investment Agreement. As part of their discussions, Dr. Fu informed the Company and the Investor that he would like to pursue other opportunities prior to the anticipated Closing Date and the Company and the Investor agreed, in light of Dr. Fu's generous contributions to the Company over the last six years, to accept a non-conditional resignation letter in satisfaction of the Company's obligations under the Investment Agreement. On November 13, 2022, Dr. Fu submitted a letter of resignation, resigning from the Company's board of directors and all other offices and positions, including as Advisor on Strategic Projects, effective as of November 18, 2022. Dr. Fu's resignation is not due to any disagreement with the Company on any matter relating to the Company's operations, policies or practices.

The Company's board of directors and management thank Dr. Fu for his many years of service and his guidance as the Company transitioned into a publicly traded company this year.

In connection with his separation from employment, Dr. Fu and the Company intend to enter into a separation agreement that will provide for Dr. Fu's award of restricted stock units, that was scheduled to vest in May 2023, to be fully vested upon his separation and will include a general release of claims by Dr. Fu in favor of the Company.

The Company expects the vacancy created by Dr. Fu's resignation to remain unfilled pending the transactions contemplated by the Investment Agreement, which contemplates the appointment of a replacement director effective as of the Closing Date.

Item 9.01 Financial Statements and Exhibits.




(d) Exhibits.

Exhibit No.   Description
104           Cover Page Interactive Data File (embedded within the inline XBRL document).




                                       1

© Edgar Online, source Glimpses

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01/30Cepton, Inc. to Participate in Baird Vehicle Technology & Mobility Conference and Citi ..
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Analyst Recommendations on CEPTON, INC.
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Financials (USD)
Sales 2022 8,23 M - -
Net income 2022 9,53 M - -
Net Debt 2022 21,0 M - -
P/E ratio 2022 17,3x
Yield 2022 -
Capitalization 204 M 204 M -
EV / Sales 2022 27,3x
EV / Sales 2023 7,46x
Nbr of Employees -
Free-Float 37,0%
Chart CEPTON, INC.
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 1,30 $
Average target price 3,44 $
Spread / Average Target 164%
EPS Revisions
Managers and Directors
Jun Pei Chairman, President & Chief Executive Officer
Hull Xu Chief Financial Officer
Mark McCord Chief Technology Officer
Liqun Han Chief Operating Officer
Jun Ye Lead Independent Director