{"id":456460,"date":"2021-03-11T16:40:11","date_gmt":"2021-03-11T21:40:11","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=456460"},"modified":"2021-03-11T16:40:11","modified_gmt":"2021-03-11T21:40:11","slug":"ouster-completes-business-combination-to-accelerate-digital-lidar-adoption-in-industrial-smart-infrastructure-robotics-and-automotive-markets","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ouster-completes-business-combination-to-accelerate-digital-lidar-adoption-in-industrial-smart-infrastructure-robotics-and-automotive-markets\/","title":{"rendered":"Ouster Completes Business Combination to Accelerate Digital Lidar Adoption in Industrial, Smart Infrastructure, Robotics and Automotive Markets"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Ouster Completes Business Combination to Accelerate Digital Lidar Adoption in Industrial, Smart Infrastructure, Robotics and Automotive Markets<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li><i>Ouster, Inc. today announced the completion of its business combination with Colonnade Acquisition Corp. (NYSE: CLA), a special purpose acquisition company<\/i><\/li>\n<li><i>The combined company\u2019s common stock expected to begin trading on the NYSE under the ticker symbol \u201cOUST\u201d on March 12, 2021<\/i><\/li>\n<li><i>Transaction proceeds expected to accelerate product roadmap, increase software development opportunity and ramp Ouster\u2019s worldwide sales and marketing efforts<\/i><\/li>\n<li><i>Since inventing their digital lidar technology in 2015, Ouster has revolutionized lidar technology<\/i><\/li>\n<\/ul>\n<p>SAN FRANCISCO&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nOuster, Inc. (\u201cOuster\u201d) a leading provider of high-resolution digital lidar sensors for the industrial automation, smart infrastructure, robotics and automotive industries, today announced the completion of its business combination with Colonnade Acquisition Corp. (NYSE: CLA) (\u201cCLA\u201d), a special purpose acquisition company. The combined company will operate as Ouster, Inc., and its common stock and warrants are expected to commence trading tomorrow on the New York Stock Exchange under the new ticker symbols \u201cOUST\u201d and \u201cOUST WS\u201d.\n<\/p>\n<p>\nAs a result of the business combination and concurrent private placement of common stock, Ouster received approximately $300 million in gross proceeds. Immediately following the closing of the business combination, Ouster\u2019s pre-business combination stockholders own approximately 78% of the combined company.\n<\/p>\n<p>\nThe capital from the business combination is expected to be used to advance the development and manufacturing of Ouster\u2019s high-performance digital lidar sensors, and ultimately accelerate adoption and rapid scale across key end markets. Ouster\u2019s substantial customer base, proven track record across four key industries, and established manufacturing footprint and supply chain position the company for rapid expansion.\n<\/p>\n<p>\n\u201cToday is an exciting moment and major milestone for Ouster,\u201d said Ouster Co-Founder and Chief Executive Officer Angus Pacala. \u201cOuster is powering the vision for an autonomous future where lidar-powered solutions are ubiquitous and built into every part of the industrial economy. We have established a strong business with a disruptive digital lidar technology, a diversified customer base of over 500 customers, and global manufacturing and supply chain capabilities that are scaling toward high volume production. The capital raised through our transition to a publicly traded company will enable us to further accelerate the adoption of our proven technology across multiple end markets and realize a safer, smarter, more efficient future.\u201d\n<\/p>\n<p>\nRemy W. Trafelet, a member of Ouster\u2019s board of directors and CLA\u2019s former Chief Executive Officer, said, \u201cOuster is well-positioned for significant growth opportunities given its proven business model, flexible suite of products, and rapidly expanding target markets. The capital raised through this transaction will allow Ouster to drive significant value creation as it continues to disrupt the existing analog solutions in the market and drive new customers.\u201d\n<\/p>\n<p><b><span class=\"bwuline\">Advisors<\/span><\/b><\/p>\n<p>\nCiti served as financial advisor and Latham &amp; Watkins LLP served as legal advisor to Ouster. Barclays and BTIG, LLC served as financial and capital markets advisors and White &amp; Case LLP served as legal advisor to CLA. Barclays and BTIG, LLC also acted as PIPE placement agents for CLA.\n<\/p>\n<p><b><span class=\"bwuline\">About Ouster<\/span><\/b><\/p>\n<p>\nOuster invented its digital lidar in 2015 and is a leading manufacturer of high-resolution digital lidar sensors used throughout the industrial automation, smart infrastructure, robotics, and automotive industries. Ouster\u2019s sensors are reliable, compact, affordable and highly customizable, laying the foundation for digital lidar ubiquity across endless applications and industries. Already hundreds of customers have incorporated Ouster lidar sensors in current products or those in development for imminent commercial release. For more information, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.ouster.com&amp;esheet=52394957&amp;newsitemid=20210311006025&amp;lan=en-US&amp;anchor=www.ouster.com&amp;index=1&amp;md5=51c08d5d20059774195014c2f6bd7c69\">www.ouster.com<\/a>, or connect with us on <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ftwitter.com%2Fousterlidar%3Fref_src%3Dtwsrc%255Egoogle%257Ctwcamp%255Eserp%257Ctwgr%255Eauthor&amp;esheet=52394957&amp;newsitemid=20210311006025&amp;lan=en-US&amp;anchor=Twitter&amp;index=2&amp;md5=da3a19262027b0f578948e0d215c0c6c\">Twitter<\/a> or <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fouster%2F&amp;esheet=52394957&amp;newsitemid=20210311006025&amp;lan=en-US&amp;anchor=LinkedIn&amp;index=3&amp;md5=0b0607c0b99133549e6d92df9a3e1757\">LinkedIn<\/a>.\n<\/p>\n<p><b><span class=\"bwuline\">About Colonnade Acquisition Corp.<\/span><\/b><\/p>\n<p>\nColonnade Acquisition Corp. (NYSE: CLA) was a special purpose acquisition company incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Colonnade consummated its initial public offering on the NYSE in August 2020. For more information, please visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.claacq.com%2F&amp;esheet=52394957&amp;newsitemid=20210311006025&amp;lan=en-US&amp;anchor=claacq.com&amp;index=4&amp;md5=17685ba66961a54aa7f3aa2c5be8e5b0\">claacq.com<\/a>.\n<\/p>\n<p><b><span class=\"bwuline\">Forward-Looking Statements<\/span><\/b><\/p>\n<p>\nThis document contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding expected benefits of the transaction to Ouster and adoption of Ouster\u2019s technology and products. These forward-looking statements generally are identified by the words \u201cbelieve,\u201d \u201cproject,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cestimate,\u201d \u201cintend,\u201d \u201cstrategy,\u201d \u201cfuture,\u201d \u201copportunity,\u201d \u201cplan,\u201d \u201cmay,\u201d \u201cshould,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201cwill be,\u201d \u201cwill continue,\u201d \u201cwill likely result,\u201d and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including Ouster\u2019s ability to implement business plans after the transaction and changes and developments in the highly competitive lidar technology and related industries. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the \u201cRisk Factors\u201d section of CLA\u2019s definitive proxy statement\/prospectus filed with the SEC on February 18, 2021 and other documents filed by the company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the company assumes no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. The company does not give any assurance that it will achieve its expectations.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210311006025r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210311006025\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210311006025\/en\/<\/a><\/span><\/p>\n<p>\nFor Colonnade<br \/>\n<br \/>Michael Callahan \/ Tom Cook \/ Jed Hamilton<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:ColonnadePR@icrinc.com\">ColonnadePR@icrinc.com<\/a><\/p>\n<p>\nFor Ouster<br \/>\n<br \/>Erica Bartsch \/ Nevin Reilly \/ Alex Kovtun<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:Sloane-Ouster@sloanepr.com\">Sloane-Ouster@sloanepr.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America California<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Finance Banking Manufacturing Other Manufacturing Professional Services<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Ouster Completes Business Combination to Accelerate Digital Lidar Adoption in Industrial, Smart Infrastructure, Robotics and Automotive Markets Ouster, Inc. today announced the completion of its business combination with Colonnade Acquisition Corp. (NYSE: CLA), a special purpose acquisition company The combined company\u2019s common stock expected to begin trading on the NYSE under the ticker symbol \u201cOUST\u201d on March 12, 2021 Transaction proceeds expected to accelerate product roadmap, increase software development opportunity and ramp Ouster\u2019s worldwide sales and marketing efforts Since inventing their digital lidar technology in 2015, Ouster has revolutionized lidar technology SAN FRANCISCO&#8211;(BUSINESS WIRE)&#8211; Ouster, Inc. (\u201cOuster\u201d) a leading provider of high-resolution digital lidar sensors for the industrial automation, smart infrastructure, robotics and automotive industries, today announced the completion of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ouster-completes-business-combination-to-accelerate-digital-lidar-adoption-in-industrial-smart-infrastructure-robotics-and-automotive-markets\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Ouster Completes Business Combination to Accelerate Digital Lidar Adoption in Industrial, Smart Infrastructure, Robotics and Automotive Markets&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-456460","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ouster Completes Business Combination to Accelerate Digital Lidar Adoption in Industrial, Smart Infrastructure, Robotics and Automotive Markets - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ouster-completes-business-combination-to-accelerate-digital-lidar-adoption-in-industrial-smart-infrastructure-robotics-and-automotive-markets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ouster Completes Business Combination to Accelerate Digital Lidar Adoption in Industrial, Smart Infrastructure, Robotics and Automotive Markets - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Ouster Completes Business Combination to Accelerate Digital Lidar Adoption in Industrial, Smart Infrastructure, Robotics and Automotive Markets Ouster, Inc. today announced the completion of its business combination with Colonnade Acquisition Corp. (NYSE: CLA), a special purpose acquisition company The combined company\u2019s common stock expected to begin trading on the NYSE under the ticker symbol \u201cOUST\u201d on March 12, 2021 Transaction proceeds expected to accelerate product roadmap, increase software development opportunity and ramp Ouster\u2019s worldwide sales and marketing efforts Since inventing their digital lidar technology in 2015, Ouster has revolutionized lidar technology SAN FRANCISCO&#8211;(BUSINESS WIRE)&#8211; Ouster, Inc. (\u201cOuster\u201d) a leading provider of high-resolution digital lidar sensors for the industrial automation, smart infrastructure, robotics and automotive industries, today announced the completion of &hellip; Continue reading &quot;Ouster Completes Business Combination to Accelerate Digital Lidar Adoption in Industrial, Smart Infrastructure, Robotics and Automotive Markets&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/ouster-completes-business-combination-to-accelerate-digital-lidar-adoption-in-industrial-smart-infrastructure-robotics-and-automotive-markets\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-11T21:40:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210311006025r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ouster-completes-business-combination-to-accelerate-digital-lidar-adoption-in-industrial-smart-infrastructure-robotics-and-automotive-markets\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ouster-completes-business-combination-to-accelerate-digital-lidar-adoption-in-industrial-smart-infrastructure-robotics-and-automotive-markets\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Ouster Completes Business Combination to Accelerate Digital Lidar Adoption in Industrial, Smart Infrastructure, Robotics and Automotive Markets\",\"datePublished\":\"2021-03-11T21:40:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ouster-completes-business-combination-to-accelerate-digital-lidar-adoption-in-industrial-smart-infrastructure-robotics-and-automotive-markets\\\/\"},\"wordCount\":994,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ouster-completes-business-combination-to-accelerate-digital-lidar-adoption-in-industrial-smart-infrastructure-robotics-and-automotive-markets\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20210311006025r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ouster-completes-business-combination-to-accelerate-digital-lidar-adoption-in-industrial-smart-infrastructure-robotics-and-automotive-markets\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ouster-completes-business-combination-to-accelerate-digital-lidar-adoption-in-industrial-smart-infrastructure-robotics-and-automotive-markets\\\/\",\"name\":\"Ouster Completes Business Combination to Accelerate Digital Lidar Adoption in Industrial, Smart Infrastructure, Robotics and Automotive Markets - 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(NYSE: CLA), a special purpose acquisition company The combined company\u2019s common stock expected to begin trading on the NYSE under the ticker symbol \u201cOUST\u201d on March 12, 2021 Transaction proceeds expected to accelerate product roadmap, increase software development opportunity and ramp Ouster\u2019s worldwide sales and marketing efforts Since inventing their digital lidar technology in 2015, Ouster has revolutionized lidar technology SAN FRANCISCO&#8211;(BUSINESS WIRE)&#8211; Ouster, Inc. (\u201cOuster\u201d) a leading provider of high-resolution digital lidar sensors for the industrial automation, smart infrastructure, robotics and automotive industries, today announced the completion of &hellip; Continue reading \"Ouster Completes Business Combination to Accelerate Digital Lidar Adoption in Industrial, Smart Infrastructure, Robotics and Automotive Markets\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/ouster-completes-business-combination-to-accelerate-digital-lidar-adoption-in-industrial-smart-infrastructure-robotics-and-automotive-markets\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-11T21:40:11+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210311006025r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ouster-completes-business-combination-to-accelerate-digital-lidar-adoption-in-industrial-smart-infrastructure-robotics-and-automotive-markets\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ouster-completes-business-combination-to-accelerate-digital-lidar-adoption-in-industrial-smart-infrastructure-robotics-and-automotive-markets\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Ouster Completes Business Combination to Accelerate Digital Lidar Adoption in Industrial, Smart Infrastructure, Robotics and Automotive Markets","datePublished":"2021-03-11T21:40:11+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ouster-completes-business-combination-to-accelerate-digital-lidar-adoption-in-industrial-smart-infrastructure-robotics-and-automotive-markets\/"},"wordCount":994,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ouster-completes-business-combination-to-accelerate-digital-lidar-adoption-in-industrial-smart-infrastructure-robotics-and-automotive-markets\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210311006025r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ouster-completes-business-combination-to-accelerate-digital-lidar-adoption-in-industrial-smart-infrastructure-robotics-and-automotive-markets\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/ouster-completes-business-combination-to-accelerate-digital-lidar-adoption-in-industrial-smart-infrastructure-robotics-and-automotive-markets\/","name":"Ouster Completes Business Combination to Accelerate Digital Lidar Adoption in Industrial, Smart Infrastructure, Robotics and Automotive Markets - 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