Growth Capital Acquisition Corp. (NASDAQ: GCAC), a special purpose acquisition company (“SPAC”), has announced that, at its Feb. 9, 2022, special meeting, its stockholders voted to approve the proposed business combination with Cepton Technologies Inc. According to the announcement, holders of almost 73% of GCAC’s issued and outstanding shares cast votes at the meeting, with more than 93% voting to approve the move. Based on the resounding affirmative vote by stockholders, Growth Capital anticipates completing the business combination quickly, with the combined company being named Cepton Inc., with its common stock and warrants trading on the Nasdaq Capital Market under the ticker symbols CPTN and CPTNW, respectively. Cepton Technologies is a developer of lidar-based solutions for automotive, smart cities, smart spaces and smart industrial applications.
In addition, GCAC chair, president and co-CEO Akis Tsirigakis was a featured guest on Gamechangers LIVE, a podcast that focuses on people who are gamechangers in their fields. During the interview, Tsirigakis and host Speaker Sergio Tigera discussed Tsirigakis’s background in shipping and special purpose acquisition companies, noting his first IPO in 2005. Tsirigakis then explained SPACs and GCAC’s merger with Cepton Technologies. “A SPAC has a limited life of 24 months, sometimes 18,” said GCAC chair, president and co-CEO Akis Tsirigakis in the interview. “If you don’t invest the funds that you’ve raised within the 24-month window, you have to return the money to the investors. You have a gun on your head to perform timely and well. . . . The road show for the 2005 IPO was a six-week road show; it was an amazing thing. We ran all over the place — Europe, Canada, Israel, everywhere — and that’s how the $200 million was raised. . . .For me, this was a revelation. I hadn’t realized that I, as a technical person, could leverage my background to do something in the public markets. I had to learn fast, actually very fast, and not make mistakes that would cost my investors. I had to build a reputation, which is critical. If you fail once, you will probably have no second chance.”
To view the full interview, visit https://ibn.fm/xB5Kt
To view the full press releases, visit https://ibn.fm/6r9if and https://ibn.fm/vJ4CX
About Growth Capital Acquisition Corp.
GCAC is a Delaware blank check company, also commonly referred to as a special purpose acquisition company (“SPAC”), formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities in any industry or geographic region. GCAC is led by its co-CEOs Akis Tsirigakis and George Syllantavos. For more information about the company, visit www.GCACorp.com.
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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