Intel-Backed Lidar Company AEye In SPAC Talks: Report

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 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 INTC, Subaru and Airbus.

Other lidar companies that are public include Luminar Technologies LAZR and Velodyne Lidar VLDR.

Collective Growth Corporation CGRO is bringing Innoviz public via SPAC. InterPrivate Acquisition Corp IPV is bringing Avea public via SPAC. Collonade Acquisition Corp CLA is bringing Ouster public.

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

Posted In: NewsSmall CapMoversMediaTrading IdeasAeyeAirbusBloombergContinental AGKleiner PerkinsSPACSPACs
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