• Growth Capital Acquisition Corp. agreed to combine with Cepton Technologies Inc, a Silicon Valley firm focused on the development of lidar technology in August 2021
• The deal, which is expected to close on February 9, 2022, will value the company at approximately $1.5 billion on a cash-free, debt-free basis
• GCAC’s management, Prokopios (Akis) Tsirigakis and George Syllantavos, have previously listed and successfully concluded 3 SPAC deals and boast a lengthy and experienced track record within the industry

Growth Capital Acquisition (NASDAQ: GCAC), a publicly traded special purpose acquisition company (“SPAC”) listed on February 2, 2021, with $172.5 million in trust, arrived at a definitive business combination agreement with Cepton Technologies Inc., a Silicon Valley innovator and leader in high performance MMT(R) lidar solutions, on August 5, 2021. The proposed deal, which is expected to be completed early on February 9, 2022, will see the company renamed as Cepton Inc and listed on the Nasdaq stock exchange under new ticker symbol ‘CPTN’, subject to, among other things, approval by Growth Capital’s stockholders (https://ibn.fm/yfgYP).

The transaction values Cepton at an enterprise value of approximately $1.5 billion on a cash-free, debt-free basis, and is expected to provide the newly combined company with…

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

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