NEW YORK, July 21, 2021 /PRNewswire/ -- CF Finance
Acquisition Corp. III (Nasdaq: CFAC) ("CF III"), a special
purpose acquisition company sponsored by Cantor Fitzgerald, today
announced that the Securities and Exchange Commission (the
"SEC") has declared effective its registration statement on
Form S-4 in connection with its previously announced business
combination with AEye, Inc. ("AEye"), a provider of
high-performance, active LiDAR systems.
The declaration of effectiveness by the SEC and the filing of
the definitive proxy statement is an important step in AEye
becoming a publicly traded company, with the goal of being listed
on the Nasdaq under the symbol "LIDR" at the close of the
transaction.
As previously announced, the business combination is expected to
deliver up to $455 million of gross
proceeds to AEye, including up to $230
million of cash held in CF III's trust account and up to
$225 million from a fully committed
PIPE anchored by strategic and institutional investors.
CF III will hold a Special Meeting of Stockholders at
9:30 a.m. Eastern time on
August 12, 2021 to approve, among
other things, the previously announced business combination with
AEye. Shareholders of record at the close of business on
July 12, 2021 will be entitled to
receive notice of and to vote at the Special Meeting. The meeting
will be held virtually over the internet by means of a live audio
webcast. Shareholders will be able to attend, vote their shares and
submit questions during the Special Meeting via a live webcast
available at
www.cstproxy.com/cffinanceacquisitioncorpiii/sm2021.
At the closing, current AEye shareholders will roll their
existing equity holdings into the post-business combination
company. The transaction, which has been unanimously approved by
the boards of directors of both CF III and AEye, is expected to
close in the third quarter of 2021, subject to regulatory and
stockholder approvals, and other customary closing conditions.
About CF Finance Acquisition Corp. III
CF Finance Acquisition Corp. III is a blank check company led by
Chairman and Chief Executive Officer Howard
W. Lutnick. CF III was formed for the purpose of effecting a
merger, capital stock exchange, asset acquisition, stock purchase,
reorganization, or similar business combination with one or more
businesses CF III focuses on industries where its management team
and founders have experience and insights and can bring significant
value to business combinations.
About Cantor Fitzgerald
CF III is sponsored by Cantor Fitzgerald. Cantor Fitzgerald,
with over 12,000 employees, is a leading global financial services
group at the forefront of financial and technological innovation
and has been a proven and resilient leader for over 70 years.
Cantor Fitzgerald & Co. is a preeminent investment bank serving
more than 5,000 institutional clients around the world, recognized
for its strengths in fixed income and equity capital markets,
investment banking, SPAC underwriting and PIPE placements, prime
brokerage, commercial real estate and for its global distribution
platform. Cantor Fitzgerald & Co. is one of the 24 primary
dealers authorized to transact business with the Federal Reserve
Bank of New York. Cantor
Fitzgerald is a leading SPAC sponsor, having completed multiple
initial public offerings and announced multiple business
combinations through its CF Acquisition platform. For more
information, please visit: www.cantor.com.
About AEye
AEye is the premier provider of high-performance, adaptive LiDAR
systems for vehicle autonomy, advanced driver-assistance systems
(ADAS), and robotic vision applications. AEye's AI-enabled and
software-definable iDAR™ (Intelligent Detection and Ranging)
platform combines solid-state adaptive LiDAR, an optionally fused
low-light HD camera, and integrated deterministic artificial
intelligence to capture more intelligent information with less
data, enabling faster, more accurate, and more reliable perception.
The company is based in the San Francisco
Bay Area and backed by world-renowned financial investors
including Kleiner Perkins and
Taiwania Capital, as well as GM Ventures, Continental AG, Hella
Ventures, LG Electronics, Subaru-SBI, Pegasus Ventures (Aisin),
Intel Capital, SK Hynix and Airbus Ventures.
Important Information and Where to Find It
AEye and CF III have entered into a merger agreement in
connection with a proposed business combination. This press release
does not constitute an offer to sell or exchange, or the
solicitation of an offer to buy or exchange, any securities, nor
shall there be any sale of securities in any jurisdiction in which
such offer, sale or exchange would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. In connection with the proposed business combination,
CF III has filed a registration statement on Form S-4, which
includes a definitive proxy statement/prospectus. The definitive
proxy statement/ prospectus will be sent to all CF III
stockholders. CF III may also file other documents regarding the
proposed transaction with the SEC. Before making any voting or
investment decision, investors and security holders of CF III are
urged to read the registration statement, the proxy
statement/prospectus and all other relevant documents filed or that
will be filed with the SEC in connection with the proposed
transaction as they become available because they will contain
important information about the proposed business combination, CF
III and AEye.
Investors and security holders will be able to obtain free
copies of the proxy statement/ prospectus and all other relevant
documents filed or that will be filed with the SEC by CF III
through the website maintained by the SEC at www.sec.gov or by
directing a request to CF III to 110 East 59th Street, New York, NY 10022 or via email at
CFFinanceIII@cantor.com.
Participants in the Solicitation
CF III and AEye and their respective directors and executive
officers may be deemed to be participants in the solicitation of
proxies from CF III's stockholders in connection with the proposed
business combination. Information about CF III's directors and
executive officers and their ownership of CF III's securities is
set forth in CF III's filings with the SEC. Additional information
regarding the interests of those persons and other persons who may
be deemed participants in the proposed business combination may be
obtained by reading the proxy statement/prospectus regarding the
proposed transaction. You may obtain free copies of these documents
as described in the preceding paragraph.
Non-Solicitation
This Current Report on Form 8-K is not a proxy statement or
solicitation of a proxy, consent or authorization with respect to
any securities or in respect of the potential Transactions and
shall not constitute an offer to sell or a solicitation of an offer
to buy the securities of CF III or AEye, nor shall there be any
sale of any such securities in any state or jurisdiction in which
such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of such
state or jurisdiction. No offer of securities shall be made except
by means of a prospectus meeting the requirements of the Securities
Act.
Forward-Looking Statements
Certain statements in this communication may constitute
"forward-looking statements" within the meaning of the federal
securities laws. Forward-looking statements include, but are not
limited to, statements regarding CF III's and AEye's expectations,
hopes, beliefs, intentions or strategies regarding the future. In
addition, any statements that refer to projections, forecasts or
other characterizations of future events or circumstances,
including any underlying assumptions, are forward-looking
statements. The words "anticipate," "believe," "continue," "could,"
"estimate," "expect," "intend," "may," "might," "plan," "possible,"
"potential," "predict," "project," "should," "strive," "would" and
similar expressions may identify forward-looking statements, but
the absence of these words does not mean that a statement is not
forward-looking. Forward-looking statements are predictions,
projections and other statements about future events that are based
on current expectations and assumptions and, as a result, are
subject to risks and uncertainties. You should carefully consider
the risks and uncertainties described in the "Risk Factors" section
of CF III's registration statement on Form S-1, the definitive
proxy statement/prospectus on Form S-4 relating to the business
combination, and other documents filed by CF III from time to time
with the SEC. These filings identify and address other important
risks and uncertainties that could cause actual events and results
to differ materially from those contained in the forward-looking
statements. Forward-looking statements speak only as of the date
they are made. Readers are cautioned not to put undue reliance on
forward-looking statements, and CF III and AEye assume no
obligation and do not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise. Neither CF III nor AEye gives any
assurance that either CF III or AEye will achieve its
expectations.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/cf-finance-acquisition-corp-iii-announces-registration-statement-effectiveness-and-special-meeting-date-to-approve-business-combination-with-aeye-inc-301338910.html
SOURCE AEye, Inc.; CF Finance Acquisition Corp. III