Growth Capital Acquisition Successfully Approves Merger Agreement in Special Meeting

On December 20, 2024, Cepton, Inc., a Delaware corporation, convened a virtual special meeting of stockholders (the “Special Meeting”) to address key proposals. These proposals included adopting the Agreement and Plan of Merger dated July 29, 2024, involving Cepton, KOITO MANUFACTURING CO., LTD., and Project Camaro Merger Sub, Inc., as well as a potential adjournment, if required, to secure additional proxies if the necessary votes were lacking at the time of the meeting.

Prior to the Special Meeting, Cepton, Inc. provided its stockholders with a comprehensive proxy statement outlining the meeting’s agenda and related details. The proxy statement was officially filed with the U.S. Securities and Exchange Commission (SEC) on November 21, 2024.

At the time of the record date on November 15, 2024, indicating the stock eligible for voting at the Special Meeting, there were 16,051,981 shares of Common Stock outstanding. Approximately 70.15% of these shares were represented at the Special Meeting, ensuring a quorum was in place to proceed with the voting.

The Transaction Proposal, a critical agenda item, secured the necessary votes from the Company’s stockholders for approval. The final voting results revealed strong support for the Transaction Proposal, with 10,888,035 votes in favor, 343,826 votes against, and 28,407 abstentions.

Additionally, the Adjournment Proposal, if required to continue garnering support, was also successfully approved during the meeting. The votes tallied 11,112,256 in favor, 110,647 against, and 37,365 abstentions.

Cepton, Inc. foresees finalizing the Merger around January 7, 2024, pending the satisfaction or waiver of the remaining closing conditions. Upon completion of the Merger, Cepton will transition from a publicly traded entity to becoming an indirect subsidiary of Parent.

This Current Report contains forward-looking statements, emphasizing the Company’s expectations and plans regarding the Transaction. Readers are warned that uncertainties and risks beyond the Company’s control could potentially lead to actual results differing from the anticipated outcomes.

Cepton, Inc. undertakes no obligation to update any forward-looking statements following the filing of this Current Report. The Company explicitly disclaims any duty to publicly revise forward-looking statements to accommodate unforeseen events or circumstances.

Jun Pei, President, and Chief Executive Officer of Cepton, Inc., duly signed the report on behalf of the registrant on December 20, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Growth Capital Acquisition’s 8K filing here.

Growth Capital Acquisition Company Profile

As of February 10, 2022, Growth Capital Acquisition Corp. was acquired by Cepton Technologies, Inc, in a reverse merger transaction. Growth Capital Acquisition Corp. does not have significant operations. The company intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses.