Trinity Capital Inc. - Common Stock (TRIN)

Cepton (NASDAQ: CPTN), a Silicon Valley innovator and leader in high performance MMT(R) lidar solutions , has secured a $25 million facility from Trinity Capital Inc. (NASDAQ: TRIN) , a leading specialty lending company that provides debt, including loans and equipment financing, to growth-stage companies backed by technology banks, venture capital and private equity firms. The transaction was completed prior to the closing of the merger between Cepton Technologies and Growth Capital Acquisition Corp, now renamed to Cepton Inc. According to the update, $10 million was drawn under the facility, and, subject to conditions under the agreement, Cepton has the option to draw an additional $15 million at any time prior to July 1, 2022. “Cepton is at the forefront of a massive digital transformation toward automation, providing its cost-effective lidar technology to companies who are making automation happen across a wide range of commercial applications,” said Trinity’s Managing Director Bob D’Acquisto. “Their market position coupled with their proprietary technologies make them a great fit for our portfolio. We are excited to support Cepton achieve its goal of deploying high performance, mass-market lidar to deliver safety and autonomy.”