AEye, Inc. (“AEye”), the global leader in adaptive, high-performance LiDAR solutions, announced today the completion of its business combination (the “Business Combination”) with CF Finance Acquisition Corp. III (Nasdaq: CFAC) (“CF III”), a special purpose acquisition company sponsored by Cantor Fitzgerald. The combined company will retain the AEye, Inc. name and is expected to commence trading on Nasdaq under the ticker symbol “LIDR” on August 18, 2021. The Business Combination was approved at a special meeting of CF III stockholders on August 12, 2021.
“AEye’s transition to the public markets marks a key milestone in our corporate journey, enabling us to accelerate adoption of our high-performance, intelligent LiDAR system and accelerate our mission to bring safe autonomy to the masses,” said Blair LaCorte, CEO of AEye. “AEye is experiencing strong business momentum based on its partnership with Continental, one of the world’s largest automotive suppliers, as well as recently announced strategic partnerships with industry leaders such as Sanmina, NVIDIA, TuSimple, and others. We look forward to creating value for our shareholders as we continue to address near and long-term opportunities unfolding in autonomous transportation.”
AEye is well positioned for commercial success in the large, fast-growing LiDAR market due to its adaptive LiDAR technology; a capital-light business model designed to leverage the industry’s existing value chain to deliver high-margins; and marquee customers and partnerships that should enable global automotive-grade production at scale. AEye’s iDAR™ system has been independently verified to have significant range, resolution, and speed performance advantages, and is software-configurable to serve multiple markets, including automotive, industrial, and mobility, with the same platform and supply chain.