Exclusive: Self-driving startup Ouster nears US$1.9 billion deal to go public -sources Toggle share menu
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REUTERS: Ouster Inc, a U.S. startup that makes lidar sensors for self-driving cars and smart cities, is nearing a deal to go public at a roughly US$1.9 billion valuation through a merger with a blank-check acquisition firm, according to people familiar with the matter.
San Francisco-based Ouster plans to merge with Colonnade Acquisition Corp and the deal could be announced as early as Tuesday, the sources said, requesting anonymity ahead of an official announcement.
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Colonnade is a special purpose acquisition company (SPAC) led by investors Remy Trafelet and Joseph Sambuco. It raised US$200 million in an initial public offering (IPO) in August with the aim of merging with a privately held company. The acquired company then becomes public as result
Self-driving startup Ouster nears US$1 9b deal to go public: sources
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US self-driving startup Ouster nears deal to go public at $1 9 billion
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By Joshua Franklin, Paul Lienert
(Reuters) – Ouster Inc, a U.S. startup that makes lidar sensors for self-driving cars and smart cities, is nearing a deal to go public at a roughly $1.9 billion valuation through a merger with a blank-check acquisition firm, according to people familiar with the matter.
San Francisco-based Ouster plans to merge with Colonnade Acquisition Corp and the deal could be announced as early as Tuesday, the sources said, requesting anonymity ahead of an official announcement.
Colonnade is a special purpose acquisition company (SPAC) led by investors Remy Trafelet and Joseph Sambuco. It raised $200 million in an initial public offering (IPO) in August with the aim of merging with a privately held company. The acquired company then becomes public as result of the merger, an alternative to the traditional IPO process.