A year after reportedly hiring banks for an IPO, multi-corporate-backed Velodyne has instead chosen a reverse merger to list on the New York Stock Exchange.
Velodyne Lidar, a US-based 3D mapping technology developer backed by corporates Baidu, Ford, Nikon and Hyundai Mobis, has agreed to list on the New York Stock Exchange through a reverse merger, it revealed yesterday.
The company will merge with special purpose acquisition company Graf Industrial at which point the latter’s ticker symbol will be updated to VLDR.
The transaction will be supported through a $150m private-investment-in-public-equity deal and will value the combined company at approximately $1.8bn. Velodyne’s existing shareholders will…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
