AEye, a startup that makes lidar systems for self-driving vehicles, went public via merger with CF Finance Acquisition III, a blank-check company, in a $1.5bn deal. "AEye's capital light, high margin channel business model, which leverages outsourced manufacturing, makes the company well positioned for commercial success across automotive, industrial and mobility markets. We are thrilled to partner with the company's visionary team, who have a demonstrated track record as public company executives, and who have built an enterprise-scale technology business," Howard Lutnick, CF III Chairman and CEO and Cantor Fitzgerald Chairman and CEO. On February 25, 2021, Continental joins the $225m Pipe offering. On May 3, 2021, companies announced that due to recent valuation changes of publicly traded lidar companies and changing conditions in the automotive lidar industry, they have amended their previously announced merger agreement to value AEye at $1.5bn instead of $1.9bn.