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ISSUE – NOV. 03 | Laser Sensor Startup Aeva May See $2 Billion Valuation From NYSE Listing

The stock listing frenzy in 2020 by high-tech transportation companies via SPAC mergers isn’t yet finished as Silicon Valley startup Aeva, a maker of sensors for self-driving vehicles that blend capabilities of laser lidar, cameras and radar, is heading for the New York Stock Exchange in a deal that pushes its valuation to just over $2 billion. The Mountain View, California-based company, founded by two former Apple -0.1%AAPL engineers, is merging with InterPrivate Acquisition Corp., and should be trading on the NYSE with the ticker “AEVA” by the first quarter of 2021. The deal will provide up to $343 million of gross proceeds, and investors including Adage Capital and Porsche SE. Previous investors including Lux Capital, Canaan Partners and Lockheed Martin LMT +0.7% will retain equity stakes in the company after it’s publicly listed. [ Forbes ]

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