Velodyne Lidar, Inc. (VLDR)

With lidar companies Ouster and Velodyne officially merged, CEO Angus Pacala has identified the next phase of growth. And it's not self-driving cars or even advanced driver assistance systems.

The merger creates a lidar powerhouse with more than 850 customers and about $315 million in cash on hand.

SAN FRANCISCO--(BUSINESS WIRE)---- $OUST--Ouster (NYSE: OUST), a leading provider of high-resolution digital lidar, and Velodyne, a global player in lidar sensors and solutions, announced the successful completion of their merger of equals, effective February 10, 2023. The combined company will keep the name Ouster and continue to trade on New York Stock Exchange under the ticker “OUST.

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Velodyne Lidar has a low debt/asset ratio, providing it with a substantial cash reserve and greater financial flexibility. The company's outlook for Q4 2022 remains optimistic with continued demand and expected growth in billings and revenue.

SAN JOSE, Calif.--( BUSINESS WIRE )--Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) announced that the Special Meeting of Stockholders ("Special Meeting") scheduled to be held today to approve the proposed merger with Ouster, Inc. (NYSE: OUST) and related matters was convened and adjourned without conducting any business. The Special Meeting will reconvene at 9:00 a.m. PT on February 10, 2023 and will be held virtually at https://www.virtualshareholdermeeting.com/VLDR2023SM.

Ouster (OUST) and Velodyne Lidar (VLDR; VLDRW) have completed their merger. These are the details.

SAN FRANCISCO--( BUSINESS WIRE )--Ouster, Inc. (NYSE: OUST) (“Ouster”), a leading provider of high-resolution digital lidar, and Velodyne Lidar, Inc. (Nasdaq: VLDR; VLDRW) (“Velodyne”), a global player in lidar sensors and solutions, announced today the proposed designations for the Board of Directors of the Combined Company, subject to approval by the Ouster Board of Directors and closing the proposed merger of equals. The merger is expected to drive significant value creation and result in a stronger financial position through robust product offerings, increased operational efficiencies, ​​and a complementary customer base in fast-growing end-markets.

SAN JOSE, Calif.--( BUSINESS WIRE )--Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced that the Special Meeting of Stockholders ("Special Meeting") to approve the proposed merger with Ouster, Inc. (NYSE: OUST) and related matters was convened and adjourned without conducting any business. The Special Meeting will reconvene at 9:00 a.m. PT on February 3, 2023.

SAN JOSE, Calif.--( BUSINESS WIRE )--Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) is urging stockholders to cast their votes in favor of the proposed merger with Ouster. As of January 23, 2023, over 97% of those voting have voted to approve the proposal to effect the merger. At this time, Velodyne has not reached the minimum quorum. Voters must cast their votes promptly in order to be counted in the Special Meeting of Stockholders on January 26, 2023, at 9:00 a.m. Pacific Time.

Velodyne Lidar (US:VLDR) said Tuesday that proxy advisory firm Institutional Shareholder Services (ISS) recommended that shareholders vote for its proposed roughly $400 million merger with Ouster (US:OUST) at Velodyne's upcoming special shareholder meeting on Jan 26.

SAN JOSE, Calif.--( BUSINESS WIRE )--Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced that the leading independent proxy advisory firm of Institutional Shareholder Services (“ISS”) has recommended that shareholders vote “FOR” the proposed merger with Ouster, Inc. (NYSE: OUST) at Velodyne's upcoming Special Meeting of Stockholders (the “Special Meeting”), scheduled for January 26, 2023.

SAN JOSE, Calif.--( BUSINESS WIRE )--Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced that independent proxy advisory firm Glass, Lewis & Co. (“Glass Lewis”) has recommended that shareholders vote “FOR” the proposed merger with Ouster, Inc. at the Company's upcoming Special Meeting of Stockholders (“Special Meeting”), scheduled for January 26, 2023.

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SAN JOSE, Calif.--( BUSINESS WIRE )--Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced the beta launch of its Vella family of software products. Vella enables Velodyne's customers to accelerate development of lidar-based vision solutions for autonomous applications. Using the online platform Vella Portal, Velodyne's sensor customers can easily access Vella's software offerings, which include Vella Go for lidar sensor management, Vella Perception for application development and Vella Cloud Services for artificial intelligence (AI) capabilities.

Wilmington, Delaware--(Newsfile Corp. - November 21, 2022) - Rigrodsky Law, P.A. is investigating Velodyne Lidar, Inc. ("Velodyne") (NASDAQ: VLDR) regarding possible breaches of fiduciary duties and other violations of law related to Velodyne's agreement to merge with Ouster, Inc. ("Ouster"). Under the terms of the agreement, each Velodyne share will be exchanged for 0.8204 shares of Ouster.To learn more about this investigation and your rights, visit: https://www.rl-legal.com/cases-velodyne-lidar-inc. To contact Seth D.