Deals
Car-Sensor Startup AEye Goes Public in $2 Billion SPAC Deal
- Company nets $455 million to develop self-driving technology
- Its software will also be used in driver assistance systems
This article is for subscribers only.
AEye Inc., a startup that makes lidar systems for self-driving vehicles, is going public by merging with blank-check company CF Finance Acquisition Corp. III in a deal valued at $2 billion.
The merger will net $455 million in cash for AEye, which the company will use to further develop its lidar and software systems. AEye is banking on growth in systems like General Motors Co.’s Super Cruise assisted driving system and, eventually, self-driving cars.