NEW YORK, Jan. 21, 2022 (GLOBE NEWSWIRE) — NetworkNewsAudio – Growth Capital Acquisition Corp. (NASDAQ: GCAC) announces the availability of a broadcast titled, “LiDAR Supercharges Vehicle Vision and the Transportation Transformation.”
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To say LiDAR is space-age technology is completely accurate. It was developed by NASA to monitor satellites and measure distances in space before it found its way into the automotive industry where the technology continues to evolve and become miniaturized and less expensive. While still early in the tech’s existence, the possibilities are becoming realities in what LiDAR can do for autonomous driving in the future.
Growth Capital Acquisition Corp. (NASDAQ: GCAC) is a special purpose acquisition company, or SPAC for short, incorporated for the purpose of acquiring an operating company with an enterprise value in the range of $400 million to $1.5 billion. The blank check company found its target late in 2021 in Cepton Technologies, a pioneer in the LiDAR space that made a name for itself with an exclusive deal with General Motors integrating with GM’s vaunted Ultra Cruise ADAS (advanced driver assistance systems). The transaction to make Cepton a public entity trading on the Nasdaq under the ticker CPTN is expected to close early this quarter.
About Growth Capital Acquisition Corp.
GCAC is a Delaware blank-check company, also commonly referred to as a special purpose acquisition company, or 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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