We are investigating the fairness of the proposed sale of Cepton, Inc. (Nasdaq: CPTN) (“Cepton”) to Koito Manufacturing (“Koito”) for $3.17 per share in cash. The sales price is below the price targets of $14.00 per share of Tom Narayan of RBC Capital, and $10.00 per share of Gus Richard of Northland Securities. It is also below Cepton’s 52-week high of $8.90 per share.
If you remain a Cepton shareholder and question the fairness of the price, you may contact our firm to discuss your legal rights at no charge by completing and submitting the form below.
Why is there an investigation?
On July 29, 2024, Cepton announced that it had agreed to be sold to Koito for $3.17 per share in cash.
Notably, the sales price is below the price targets of $14.00 per share of Tom Narayan of RBC Capital, and $10.00 per share of Gus Richard of Northland Securities.
The sales price is also below Cepton’s 52-week high of $8.90 per share, which indicates that Koito’s purchase may be opportunistic to take advantage of a temporary downturn in Cepton’s share price.
“We are investigating whether the Cepton Board of Directors acted in the best interests of Cepton shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to Cepton shareholders, as well as whether all material information regarding the transaction has been fully disclosed.”