Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

CF FINANCE ACQUISITION CORP. III

(CFAC)
SummaryQuotesChartsNewsCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Lidar maker AEye valuation slips to $1.5 bln on new SPAC merger terms

05/03/2021 | 11:55am EDT

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.

In February, AEye had agreed to go public through a merger with special purpose acquisition company (SPAC) CF Finance Acquisition Corp III, in a deal that valued the company at $2 billion.

The companies attributed the terms of the amended deal to "changing conditions" in the automotive lidar industry.

Lidar peers Ouster Inc and Peter Thiel-backed Luminar Technologies Inc, which also took the SPAC route to get publicly listed, have lost 10% and 22% of their value, respectively, since making their market debuts.

Founded in 2013 by former Lockheed Martin 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.

Blank-check firms, or SPACs, like CF III are shell companies that raise funds through an initial public offering to take a private company public.

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. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Ramakrishnan M.)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CF FINANCE ACQUISITION CORP. III 0.10% 9.99 Delayed Quote.0.00%
LOCKHEED MARTIN CORPORATION 0.77% 390.34 Delayed Quote.9.96%
LUMINAR TECHNOLOGIES, INC. 6.22% 20.84 Delayed Quote.-38.71%
OUSTER, INC. -5.70% 10.26 Delayed Quote.0.00%
All news about CF FINANCE ACQUISITION CORP. III
05/04CF FINANCE ACQUISITION III  : 10-K/A - Management's Discussion and Analysis of F..
AQ
05/04CF FINANCE ACQUISITION CORP. III  : Non-Reliance on Previous Financials, Audits ..
AQ
05/03CF FINANCE ACQUISITION III  : Amends Deal To Lower AEye's Valuation to $1.52 Bil..
MT
05/03Lidar maker AEye valuation slips to $1.5 bln on new SPAC merger terms
RE
05/03CF FINANCE ACQUISITION III  : And aeye amend merger agreement;
PU
05/03CF FINANCE ACQUISITION CORP. III  : Entry into a Material Definitive Agreement, ..
AQ
05/03CF FINANCE ACQUISITION III  : and AEye Amend Merger Agreement; AEye Prepares to ..
BU
04/06Self-driving sensor startup Innoviz's shares rise on public debut
RE
03/15CF FINANCE ACQUISITION III  : Management's Discussion and Analysis of Financial ..
AQ
02/25CF FINANCE ACQUISITION CORP. III  : Regulation FD Disclosure, Financial Statemen..
AQ
More news
Financials (USD)
Sales 2020 - - -
Net income 2020 -0,15 M - -
Net Debt 2020 0,43 M - -
P/E ratio 2020 -
Yield 2020 -
Capitalization 292 M 292 M -
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 71,9%
Chart CF FINANCE ACQUISITION CORP. III
Duration : Period :
CF Finance Acquisition Corp. III Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CF FINANCE ACQUISITION CORP. III
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Managers and Directors
NameTitle
Howard William Lutnick Chairman & Chief Executive Officer
Anshuman Jain President & Director
Alice Chan Chief Financial Officer & Director
Robert J. Hochberg Independent Director
Robert G. Sharp Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
CF FINANCE ACQUISITION CORP. III0.00%292
INVESTOR AB (PUBL)21.67%66 862
CK HUTCHISON HOLDINGS LIMITED18.95%31 949
AB INDUSTRIVÄRDEN (PUBL)19.91%16 788
HAL TRUST28.89%15 636
KINNEVIK AB1.34%14 458