Reuters: AEye and a SPAC company CF Finance Acquisition Corp. III amended their merger agreement, valuing the LiDAR maker Aeye at $1.52B, citing valuation changes of publicly traded lidar companies.
In the initial announcement in February, AEye was valued at $2B. The companies attributed the terms of the amended deal to "changing conditions" in the automotive lidar industry.
Meanwhile, Aeye publishes an interview with Continental and ex-GM CTO saying that LiDAR is an absolute necessity for autonomous driving:
"LiDAR is an absolute necessity for autonomous driving" This is news to the DogeFather ��
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