SAN JOSE, Calif.--(BUSINESS WIRE)--Cepton, Inc. (“Cepton”) (Nasdaq: CPTN), a Silicon Valley innovator and leader in high performance MMT® lidar solutions, announced today that it will be added as a member of the Russell 3000® index at the conclusion of the 2022 Russell indexes annual reconstitution, effective after the US market opens on June 27, 2022, according to a preliminary list of additions posted on June 3, 2022.
Annual Russell indexes reconstitution captures roughly the 4,000 largest US stocks as of May 6, 2022, ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.
“Cepton is excited to be joining the Russell 3000® index as it enables us to expand awareness of our story among the investment community as we continue to execute against our milestones generating long-term stakeholder value,” said Jun Pei, Cepton’s Co-Founder and CEO. “At Cepton, our design philosophy and technology enabled us to win the largest ADAS series production award to date, and inclusion in the Russell indexes is another point of validation in our ongoing journey as a public company.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000 ® Index, the Russell indexes reconstitution and upcoming updates to the 2022 portfolio, go to the “Russell Reconstitution” section on the FTE Russell website.
About Cepton, Inc.
Cepton is a Silicon Valley innovator of lidar-based solutions for automotive (ADAS/AV), smart cities, smart spaces and smart industrial applications. With its patented Micro Motion Technology (MMT®), Cepton aims to take lidar mainstream and achieve a balanced approach to performance, cost and reliability, while enabling scalable and intelligent 3D perception solutions across industries.
Cepton has been awarded the largest known ADAS lidar series production award in the industry to date, based on the number of vehicle models awarded, to support General Motors’ Ultra Cruise program. Cepton is also engaged with all other Top 10 global OEMs.
Founded in 2016 and led by industry veterans with decades of collective experience across a wide range of advanced lidar and imaging technologies, Cepton is focused on the mass market commercialization of high performance, high quality lidar solutions. Cepton is headquartered in San Jose, CA and has a center of excellence facility in Troy, MI to provide local support to automotive customers in the Metro Detroit area. Cepton also has a presence in Germany, Canada, Japan, India and China to serve a fast-growing global customer base. For more information, visit www.cepton.com and follow Cepton on Twitter and LinkedIn.