M&A · Industrials · Motor Vehicle Parts & Accessories
Koito Manufacturing Co., Ltd to acquire Cepton, Inc.
Announced Jul 29, 2024 · Closed Jan 7, 2025
Deal value$50MEV $1M
Premium25.3%To unaffected price
EV / Adj. EBITDA—0.1x EV / Revenue
ConsiderationAll cash$3.17 per share
Transaction
- Acquirer
- Koito Manufacturing Co., Ltd
- Target
- Cepton, Inc. (CPTN)
- Buyer type
- Strategic
- Offer price per share
- $3.17
- Enterprise value
- $1M
- Status
- Closed Jan 7, 2025
Deal protections
- Break fee (target pays)
- $1.3M · 2.5%
- Reverse fee (buyer pays)
- $5.0M · 9.9%
- Go-shop
- —
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- Craig-Hallum
Sector context · Industrials
- Comparable deals
- 85 in the prior 24 months
- Premium
- 25.3% vs. 37.0% sector median
- EV / Adj. EBITDA
- Sector median 9.8x
- Break fee
- 2.5% vs. 2.8% sector median
Timeline
- AnnouncedJul 29, 2024
- Proxy filedSep 25, 2024
- Definitive proxyNov 21, 2024
- Shareholder voteDec 20, 2024
- ClosedJan 7, 2025