AEye To Go Public Through Merger With CF Finance Acquisition Corp. III; Transaction Values AEye At A Pro-forma Enterprise Value Of $2B Benzinga - Wed, 17 Feb 2021 08:01:24 … As per the details announced via a press statement just moments ago, AEye and CF Finance are expected to consummate their merger in Q2 2021. Readers are cautioned not to put undue reliance on forward-looking statements, and AEye and CF III assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. AEye Said in Talks to Go Public Via Cantor Blank-Check Firm CF Finance Acquisition Corp. III raised $230 million in IPO Artificial-perception startup AEye Inc. is in talks to go public through a merger with CF Finance Acquisition Corp. III, a Cantor Fitzgerald LP blank … Most recent headlines. iDAR's modular, software configurable platform leverages intelligence at the edge to achieve exceptional range, resolution, and frame rate, and through its proprietary active scanning, the ability to capture intraframe radial and lateral velocity. GCM Grosvenor, an alternative asset manager, and CF Finance Acquisition Corp, a blank check company that's backed by Cantor Fitzgerald, have agreed to merge. At AEye, Dussan applied the same principles to create the highest performing active sensing and perception systems used to address the most challenging situations, ensuring the highest levels of safety for autonomous driving. Many actual events and circumstances are beyond the control of CF III and AEye. DUBLIN, Calif. and NEW YORK, Feb. 17, 2021 /PRNewswire/ -- AEye, Inc. ("AEye"), the global leader in active, high-performance LiDAR solutions, and CF Finance Acquisition Corp. III (Nasdaq: CFAC) ("CF III"), a special purpose acquisition company sponsored by Cantor Fitzgerald, today announced they have entered into a definitive merger agreement.. The transaction will require the approval of the stockholders of CF III and AEye, and is subject to other customary closing conditions, including the receipt of certain regulatory approvals. DUBLIN, Calif. and NEW YORK, Feb. 17, 2021 /PRNewswire/ -- AEye, Inc. ("AEye"), the global leader in active, high-performance LiDAR solutions, and CF Finance Acquisition Corp. III (Nasdaq: CFAC) ("CF III"), a special purpose acquisition company sponsored by Cantor Fitzgerald, today announced they have entered into a definitive merger agreement. CF Finance III (NASDAQ:CFAC) has entered into a definitive combination agreement with lidar-maker AEye at an enterprise value of $2 billion, or 11.4x its 2024E revenue. 06:57 AM ET. The foregoing list of factors is not exhaustive. CF III also will file other documents regarding the proposed transaction with the SEC. Our established partnerships with leading Tier 1 automotive suppliers (such as Continental) strongly position us to deliver Advanced Driver Assistance Systems (ADAS) solutions that will increase vehicle safety and enable new performance features, such as highway autopilot. The proposed transaction will expand AEye's technology leadership and accelerate the adoption of its active, high-performance LiDAR across key markets. AEye's software-definable iDAR™ (Intelligent Detection and Ranging) platform combines solid-state active LiDAR, an optionally fused low-light HD camera, and integrated deterministic artificial intelligence to capture more intelligent information with less data, enabling faster, more accurate, and more reliable perception. AEye To Go Public Through Merger With CF Finance Acquisition Corp. III (CFAC) Article Related Press Releases (1) Stock Quotes (1) FREE Breaking News Alerts from StreetInsider.com! 12, 2021 - IPV SPAC Stock Forecast: What's Ahead in the LIDAR Space  Market Realist - marketrealist.com, Feb. 20, 2021 - Truck Talk: Autonomous range-finding edition  FreightWaves - www.freightwaves.com, CF Finance Acquisition Corp. and GCM Grosvenor Announce Receipt of All Approvals Required for Business Combination  PRNewswire - www.prnewswire.com, Mar. The deal will raise $455 million in gross proceeds for the post-merger company (which will retain the AEye name.) Participants in the SolicitationCF III and AEye and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from CF III's stockholders in connection with the proposed transaction. But remember GRAF, that merged with Velodyne, was a $225 million SPAC and it topped at $32 before merger. Dublin, California-based AEye has developed lidar sensors and software for use in consumer vehicles as well as industrial and robotics applications. Additionally, our contract manufacturing and system integrator partners can customize our platform to meet the specific needs of various markets, including trucking, mining, Intelligent Traffic Systems and railways. AEye and CF III announce that Continental AG is participating in the PIPE offering connected with the company’s merger agreement. iDAR technology is based on a large and diverse patent portfolio of over 80 patents with more than 3000 claims. Company Releases for CF Finance Acquisition Corp. III. These statements are based on various assumptions, whether or not identified in this press release. Many factors could cause actual future events to differ from the forward-looking statements in this press release, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of CF III's securities, (ii) the risk that the transaction may not be completed by CF III's business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by CF III, (iii) the failure to satisfy the conditions to the consummation of the transaction, including the approval by the stockholders of CF III, the satisfaction of the minimum trust account amount following any redemptions by CF III's public stockholders and the receipt of certain governmental and regulatory approvals, (iv) the inability to complete the PIPE offering, (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, (vi) the effect of the announcement or pendency of the transaction on AEye's business relationships, operating results, and business generally, (vii) risks that the transaction disrupts current plans and operations of AEye and potential difficulties in AEye employee retention as a result of the transaction, (viii) the outcome of any legal proceedings that may be instituted against AEye or against CF III related to the merger agreement or the transaction, (ix) the ability to maintain the listing of CF III stock on the Nasdaq Stock Market, (x) volatility in the price of CF III's securities, (xi) changes in competitive and regulated industries in which AEye operates, variations in operating performance across competitors, changes in laws and regulations affecting AEye's business and changes in the combined capital structure, (xii) the ability to implement business plans, forecasts, and other expectations after the completion of the transaction, and identify and realize additional opportunities, (xiii) the potential inability of AEye to increase its manufacturing capacity or to achieve efficiencies regarding its manufacturing process or other costs, (xiv) the enforceability of AEye's intellectual property, including its patents and the potential infringement on the intellectual property rights of others, (xv) the risk of downturns and a changing regulatory landscape in the highly competitive industry in which AEye operates, (xvi) the potential inability of AEye to enter into definitive agreements, partnerships or other commitments with original equipment manufacturers, contract manufacturers, suppliers and other strategic partners and (xvii) costs related to the transaction and the failure to realize anticipated benefits of the transaction or to realize estimated pro forma results and underlying assumptions, including with respect to estimated stockholder redemptions. Headlines for CF Finance Acquisition Corp. III (NAS:CFAC) News for CF Finance Acquisition Corp. III. The combined entity is expected to trade on Read more: O2’s £31bn Virgin Media merger ‘will help UK pandemic recovery’, says CEO. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by an investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Cantor Fitzgerald & Co. is serving as financial and capital markets advisor to CF III. AdvisorsGuggenheim Securities is serving as financial advisor and capital markets advisor to AEye. On the webcast, the presenters will be reviewing an investor presentation, which will be available on CF III's and AEye's websites and filed with the SEC as an exhibit to CF III's Current Report on Form 8-K prior to the webcast, and available on the SEC website at www.sec.gov. Artificial-perception startup AEye is in talks to go public through a merger with CF Finance Acquisition Corp. III (NASDAQ: CFAC), according to Bloomberg, citing people with knowledge of the matter. AEye, Global Leader In Active, High-Performance LiDAR Solutions, To Go Public Through Merger With CF Finance Acquisition Corp. III PR Newswire - PRF. AEye's intelligent Detection and Ranging platform (iDAR™) leverages an agile MEMS-based scanner, 1550nm laser, and bistatic advanced receiver with embedded deterministic artificial intelligence to deliver high-performance at a low cost. Investor Webcast InformationManagement of AEye and CF III will host a joint investor webcast to discuss the proposed transaction on February 17, 2021 at 7:30 am ET. Transaction Details The Board of Directors of each of AEye and CF III have unanimously approved the transaction. The company is based in the San Francisco Bay Area and backed by world-renowned financial investors including Kleiner Perkins and Taiwania Capital, as well as GM Ventures, Continental AG, Hella Ventures, LG Electronics, Subaru-SBI, Pegasus Ventures (Aisin), Intel Capital, SK Hynix and Airbus Ventures.