Ouster Completes Organization Mixture to Speed up Electronic Lidar Adoption in Industrial, Wise Infrastructure, Robotics and Automotive Markets

• Ouster, Inc. nowadays introduced the completion of its business mixture with Colonnade Acquisition Corp. (NYSE: CLA), a unique goal acquisition company

• The combined company’s frequent stock envisioned to get started buying and selling on the NYSE below the ticker symbol “OUST” on March 12, 2021

• Transaction proceeds predicted to accelerate merchandise roadmap, maximize program progress opportunity and ramp Ouster’s throughout the world sales and advertising and marketing attempts

• Given that inventing their electronic lidar technology in 2015, Ouster has revolutionized lidar engineering

Ouster, Inc. (“Ouster”) a top supplier of high-resolution electronic lidar sensors for the industrial automation, clever infrastructure, robotics and automotive industries, currently declared the completion of its business blend with Colonnade Acquisition Corp. (NYSE: CLA) (“CLA”), a exclusive objective acquisition organization. The blended company will work as Ouster, Inc., and its widespread stock and warrants are predicted to start trading tomorrow on the New York Inventory Trade below the new ticker symbols “OUST” and “OUST WS”.

As a result of the organization mixture and concurrent non-public placement of typical inventory, Ouster received approximately $300 million in gross proceeds. Right away next the closing of the business enterprise mix, Ouster’s pre-organization combination stockholders own around 78% of the blended organization.

The cash from the business mix is predicted to be applied to progress the improvement and production of Ouster’s substantial-effectiveness digital lidar sensors, and in the end speed up adoption and immediate scale across vital conclude marketplaces. Ouster’s substantial shopper base, established track document throughout 4 key industries, and proven producing footprint and offer chain placement the company for immediate enlargement.

“Nowadays is an enjoyable instant and important milestone for Ouster,” said Ouster Co-Founder and Chief Government Officer Angus Pacala. “Ouster is powering the eyesight for an autonomous future exactly where lidar-run remedies are ubiquitous and crafted into each individual portion of the industrial overall economy. We have set up a powerful business with a disruptive electronic lidar technologies, a diversified shopper foundation of around 500 buyers, and global producing and provide chain capabilities that are scaling towards significant volume output. The cash raised via our transition to a publicly traded organization will empower us to additional speed up the adoption of our established technological innovation across numerous close marketplaces and understand a safer, smarter, far more effective potential.”

Story carries on

Remy W. Trafelet, a member of Ouster’s board of administrators and CLA’s former Chief Government Officer, said, “Ouster is properly-positioned for sizeable advancement chances provided its proven business product, adaptable suite of products and solutions, and speedily expanding goal markets. The funds raised by means of this transaction will permit Ouster to travel sizeable price creation as it carries on to disrupt the present analog options in the market and push new buyers.”

Advisors

Citi served as fiscal advisor and Latham & Watkins LLP served as authorized advisor to Ouster. Barclays and BTIG, LLC served as economical and funds marketplaces advisors and White & Situation LLP served as authorized advisor to CLA. Barclays and BTIG, LLC also acted as PIPE placement agents for CLA.

About Ouster

Ouster invented its digital lidar in 2015 and is a major producer of high-resolution electronic lidar sensors made use of throughout the industrial automation, clever infrastructure, robotics, and automotive industries. Ouster’s sensors are trusted, compact, cost-effective and hugely customizable, laying the foundation for digital lidar ubiquity across limitless apps and industries. Now hundreds of consumers have integrated Ouster lidar sensors in existing items or all those in enhancement for imminent professional release. For a lot more information, go to www.ouster.com, or link with us on Twitter or LinkedIn.

About Colonnade Acquisition Corp.

Colonnade Acquisition Corp. (NYSE: CLA) was a exclusive purpose acquisition organization integrated for the objective of effecting a merger, share trade, asset acquisition, share obtain, reorganization or comparable company mix with a person or far more corporations. Colonnade consummated its first community featuring on the NYSE in August 2020. For extra information and facts, remember to visit claacq.com.

Forward-Searching Statements

This document includes certain ahead-hunting statements in just the indicating of the federal securities guidelines, such as statements with regards to expected positive aspects of the transaction to Ouster and adoption of Ouster’s technological innovation and products and solutions. These ahead-searching statements normally are identified by the words and phrases “imagine,” “project,” “count on,” “anticipate,” “estimate,” “intend,” “system,” “long term,” “possibility,” “approach,” “might,” “ought to,” “will,” “would,” “will be,” “will continue,” “will possible end result,” and related expressions. Forward-hunting statements are predictions, projections and other statements about foreseeable future activities that are based on current anticipations and assumptions and, as a outcome, are issue to challenges and uncertainties. Numerous aspects could trigger genuine future activities to vary materially from the forward-on the lookout statements in this document, which include Ouster’s capability to employ enterprise designs after the transaction and alterations and developments in the extremely competitive lidar technological innovation and associated industries. The foregoing checklist of elements is not exhaustive. You should really thoroughly consider the foregoing aspects and the other threats and uncertainties explained in the “Possibility Aspects” section of CLA’s definitive proxy assertion/prospectus filed with the SEC on February 18, 2021 and other documents submitted by the enterprise from time to time with the SEC. These filings recognize and tackle other crucial hazards and uncertainties
that could trigger precise functions and results to differ materially from people contained in the forward-seeking statements. Forward-on the lookout statements speak only as of the date they are produced. Viewers are cautioned not to place undue reliance on ahead-wanting statements, and the enterprise assumes no obligation and do not intend to update or revise these forward-on the lookout statements, whether as a outcome of new info, foreseeable future occasions, or if not. The company does not give any assurance that it will achieve its anticipations.

Watch resource variation on businesswire.com: https://www.businesswire.com/news/residence/20210311006025/en/

Contacts

For Colonnade
Michael Callahan / Tom Prepare dinner / Jed Hamilton
[email protected]

For Ouster
Erica Bartsch / Nevin Reilly / Alex Kovtun
[email protected]