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News

Intel-Backed Lidar Company AEye In SPAC Talks: Report

Author: Chris Katje | January 14, 2021 05:45pm

Lidar has been one of the hottest sectors in the SPAC market over the last year, with several startups choosing this route to go public.

What Happened: AEye is in talks to go public with CF Finance Acquisition III (NASDAQ:CFAC), according to Bloomberg.

The company is backed by Continental AG, Europe’s second-largest car parts supplier, which took a stake in October.

The two companies are working together on a long range lidar sensor base on AEye’s patented architecture to commercialize.

Related Link: Ford Reports 7.6% Stake In Newly Public Velodyne Lidar

Other backers in AEye include Kleiner Perkins, LG Electronics, Intel Corp (NASDAQ:INTC), Subaru and Airbus.

Other lidar companies that are public include Luminar Technologies (NASDAQ:LAZR) and Velodyne Lidar (NASDAQ:VLDR).

Collective Growth Corporation (NASDAQ:CGRO) is bringing Innoviz public via SPAC. InterPrivate Acquisition Corp (NYSE:IPV) is bringing Avea public via SPAC. Collonade Acquisition Corp (NYSE:CLA) is bringing Ouster public.

Price Action: Shares of CF Finance Acquisition III gained 7.49% Thursday, closing at $12.91. 

Posted In: CFAC CGRO CLA INTC IPV LAZR VLDR