Ouster Completes Enterprise Combination to Speed up Electronic Lidar Adoption in Industrial, Intelligent Infrastructure, Robotics and Automotive Markets

• Ouster, Inc. currently announced the completion of its company combination with Colonnade Acquisition Corp. (NYSE: CLA), a particular objective acquisition enterprise

• The mixed company’s prevalent stock predicted to start off trading on the NYSE beneath the ticker symbol “OUST” on March 12, 2021

• Transaction proceeds envisioned to speed up merchandise roadmap, maximize software advancement opportunity and ramp Ouster’s globally profits and marketing and advertising attempts

• Since inventing their electronic lidar engineering in 2015, Ouster has revolutionized lidar technological innovation

Ouster, Inc. (“Ouster”) a leading supplier of higher-resolution electronic lidar sensors for the industrial automation, wise infrastructure, robotics and automotive industries, now introduced the completion of its business enterprise combination with Colonnade Acquisition Corp. (NYSE: CLA) (“CLA”), a distinctive objective acquisition firm. The mixed corporation will work as Ouster, Inc., and its popular inventory and warrants are anticipated to start trading tomorrow on the New York Stock Exchange underneath the new ticker symbols “OUST” and “OUST WS”.

As a consequence of the business combination and concurrent private placement of common stock, Ouster acquired approximately $300 million in gross proceeds. Immediately next the closing of the business enterprise mixture, Ouster’s pre-enterprise mix stockholders very own somewhere around 78% of the put together company.

The funds from the business enterprise blend is predicted to be utilised to advance the development and production of Ouster’s superior-efficiency electronic lidar sensors, and in the long run speed up adoption and fast scale throughout vital end markets. Ouster’s sizeable client base, tested track record throughout 4 key industries, and founded production footprint and offer chain placement the enterprise for quick enlargement.

“These days is an enjoyable instant and big milestone for Ouster,” stated Ouster Co-Founder and Chief Government Officer Angus Pacala. “Ouster is powering the eyesight for an autonomous long term exactly where lidar-powered remedies are ubiquitous and developed into every portion of the industrial financial state. We have established a solid company with a disruptive digital lidar technological know-how, a diversified consumer base of above 500 shoppers, and global producing and offer chain abilities that are scaling towards substantial volume manufacturing. The capital raised via our changeover to a publicly traded enterprise will allow us to additional speed up the adoption of our tested technological know-how throughout various end markets and understand a safer, smarter, a lot more successful future.”

Tale continues

Remy W. Trafelet, a member of Ouster’s board of administrators and CLA’s previous Main Executive Officer, explained, “Ouster is perfectly-positioned for significant progress prospects specified its confirmed business product, versatile suite of merchandise, and swiftly increasing goal markets. The funds elevated by means of this transaction will make it possible for Ouster to travel important value development as it continues to disrupt the present analog remedies in the market place and push new clients.”

Advisors

Citi served as economic advisor and Latham & Watkins LLP served as authorized advisor to Ouster. Barclays and BTIG, LLC served as fiscal and funds marketplaces advisors and White & Scenario 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 leading company of significant-resolution digital lidar sensors applied through the industrial automation, sensible infrastructure, robotics, and automotive industries. Ouster’s sensors are reliable, compact, very affordable and extremely customizable, laying the foundation for digital lidar ubiquity throughout limitless applications and industries. Already hundreds of shoppers have included Ouster lidar sensors in present goods or these in progress for imminent professional release. For additional information, go to www.ouster.com, or connect with us on Twitter or LinkedIn.

About Colonnade Acquisition Corp.

Colonnade Acquisition Corp. (NYSE: CLA) was a unique objective acquisition business included for the goal of effecting a merger, share exchange, asset acquisition, share invest in, reorganization or equivalent company mixture with a single or far more organizations. Colonnade consummated its original general public featuring on the NYSE in August 2020. For far more details, remember to stop by claacq.com.

Ahead-Hunting Statements

This document has certain forward-wanting statements in the meaning of the federal securities guidelines, like statements about anticipated advantages of the transaction to Ouster and adoption of Ouster’s technology and products. These forward-looking statements generally are identified by the words “imagine,” “job,” “assume,” “foresee,” “estimate,” “intend,” “approach,” “long term,” “option,” “prepare,” “could,” “need to,” “will,” “would,” “will be,” “will go on,” “will very likely outcome,” and equivalent expressions. Forward-wanting statements are predictions, projections and other statements about long run occasions that are based on current anticipations and assumptions and, as a end result, are subject to risks and uncertainties. Lots of elements could bring about real upcoming gatherings to vary materially from the ahead-looking statements in this document, like Ouster’s ability to put into practice small business programs immediately after the transaction and changes and developments in the hugely aggressive lidar know-how and associated industries. The foregoing list of components is not exhaustive. You ought to very carefully contemplate the foregoing things and the other threats and uncertainties described in the “Threat Aspects” segment of CLA’s definitive proxy statement/prospectus filed with the SEC on February 18, 2021 and other paperwork filed by the company from time to time with the SEC. These filings discover and address other essential risks and uncertainties that could lead to actual events and final results to differ materially
from these contained in the forward-on the lookout statements. Ahead-on the lookout statements communicate only as of the day they are created. Audience are cautioned not to place undue reliance on forward-searching statements, and the firm assumes no obligation and do not intend to update or revise these ahead-wanting statements, whether or not as a outcome of new information, potential events, or usually. The corporation does not give any assurance that it will attain its anticipations.

See source version on businesswire.com: https://www.businesswire.com/information/dwelling/20210311006025/en/

Contacts

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

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