Ebene News – CA – SPAC Colonnade Acquisition shares merge after merger agreement with lidar sensor maker Ouster

Actions of Colonnade Acquisition Corp
CLA,
3909%
exploded 462% in morning trading Tuesday to follow the NYSE winners, after the special purpose acquisition company (SPAC), or “blank check” company, announced a merger deal that will take the manufacturer of lidar sensors Ouster Inc Public Under the terms of the agreement, implying an equity value for Ouster of about $ 1 9 billion, will provide up to $ 300 million in gross revenue for Ouster The product is expected to be used to advance the development and manufacture of Ouster’s digital lidar sensors, which provide 3D vision to robots and autonomous vehicles Once the reverse merger is completed, the company will operate under the name Ouster Inc and the stock is expected to remain listed on the Nasdaq stock exchange but under the new ticker symbol “OUST” The deal comes at a time when the shares of its colleague manufacturer of lidar sensors, Luminar Technologies Inc
LAZR,
414%,
which was made public by a PSPC merger earlier this month, have more than doubled (up 1080%) this month, as the S&P 500
SPX,
-035%
won 20%

JMP Securities analyst Joe Osha is now more bullish on Tesla Inc than ever, and his reasons revolve around the potential of the electric vehicle maker over the next few years, not including the stock in the ‘S&P 500 index

Tomi Kilgore is the Associate Editor of Investments and News at MarketWatch and is based in New York City You can follow him on Twitter @TomiKilgore

Ouster, Lidar, autonomous car, special purpose acquisition company

Ebene News – CA – SPAC Colonnade Acquisition of rockets after the merger with the manufacturer of lidar sensors Ouster

Source: https://www.marketwatch.com/story/spac-colonnade-acquisitions-stock-rockets-after-merger-deal-with-lidar-sensor-maker-ouster-2020-12-22