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Strong financial position with combined cash balance of approximately $355 million as of September 30,
2022 |
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Compared to stand-alone cost structures as of September 30, 2022, annualized operating expenditure synergies
of at least $75 million expected to be realized within 9 months after transaction-close |
Whats Next: We
will provide more information about the proposed merger in the following weeks and months, and additional insight into our combined company strategy following the closing of the proposed merger, which is expected to occur in the first half of 2023,
subject to the satisfaction of customary closing conditions.
Until then, Ouster will continue to operate its business as usual as a separate and
independent company. We remain focused on our mission to build a safer and more sustainable future through the adoption of digital lidar, delivering performant and affordable products to our customers, and executing on our roadmap.
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Analyst Call: Ouster and Velodyne will host a joint webcast at 8:30 a.m. ET on November 7th
to discuss the proposed merger. The conference call will be available via a live webcast, and later as a replay on Ousters investor website. |
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Employee Town Hall: Ouster will host a Town Hall tomorrow, November 8th at 8:30 a.m. PT, and
again at 5:30 p.m. PT to discuss this news and answer questions. |
More Information: Please see our press
announcement in addition to the Employee FAQ for additional details on the proposed merger, or reach out to your manager with any additional questions.
This is an exciting time for Ouster! I am confident that we are on the right path. Lets stay focused!
Angus
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Cautionary Statement Regarding Forward-Looking Statements
This document contains forward-looking statements within the meaning of the federal securities law. Such statements are based upon current plans, estimates and
expectations of the management of Ouster and Velodyne that are subject to various risks and uncertainties that could cause actual results to differ materially from such statements. The inclusion of forward-looking statements should not be regarded
as a representation that such plans, estimates and expectations will be achieved. Words such as anticipate, expect, project, intend, believe, may, will,
should, plan, could, continue, target, contemplate, estimate, forecast, guidance, predict, possible,
potential, pursue, likely, and words and terms of similar substance used in connection with any discussion of future plans, actions or events identify forward-looking statements. All statements, other than
historical facts, including statements regarding the expected timing of the closing of the proposed transaction; the ability of the parties to complete the proposed transaction considering the various closing conditions; the expected benefits of the
proposed transaction; the cash position of the combined company; the competitive ability and position of the combined company; and any assumptions underlying any of the foregoing, are forward-looking statements. Important factors that could cause
actual results to differ materially from Ousters and Velodynes plans, estimates or expectations could include, but are not limited to: (i) the risk that the proposed transaction may not be completed in a timely manner or at all,
which may adversely affect Ousters and Velodynes businesses and the price of their