CLA - Velodyne Luminar stocks move lower on rival AEye's go-public plan

Shares of lidar sensor companies Lumiar ([[LAZR]] -6.2%) and Velodyne ([[VLDR]] -4.2%) are trading lower after peer AEye announced plans to go public through a reverse merger with SPAC CF Finance Acquisition Corp. III. The transaction put AEye at a pro-forma enterprise value of $2B and delivers up to $455M of gross proceeds, which the company says will fully fund through to profitability.The proceeds included $230M from the SPAC's trust and $255M in cash from a fully subscribed PIPE offering that included GM Ventures and Intel Capital. Velodyne and Luminar both went public via SPAC merger last year and competitors with pending SPAC mergers include Aeva, Ouster, and Innoviz. Aeva and Innoviz are expected to go public in Q1 and Innoviz in the first half of 2021.The SPAC partners for the pending mergers are also trading down:  Colonnade Acquisition ([[CLA]] -5.7%) for Ouster, Collective Growth ([[CGRO]] -0.3%) for Innoviz, and InterPrivate Acquisition ([[IPV]] -0.2%) for Aeva.Automotive lidar, sensors

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Velodyne, Luminar stocks move lower on rival AEye's go-public plan