Velodyne Lidar and Graf Industrial Corp. Announce Business Combination to Form Leading Publicly-Traded Lidar Technology Company

Investor Conference Call 

Investors may listen to a presentation regarding the proposed transaction on July 2, 2020, starting at 11:00 a.m. EDT. Please click the link below to join the webinar:

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Webinar ID: 929 2595 2171
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In addition, GRAF will file an investor presentation with the SEC on July 2, 2020, which can be viewed on the SEC website at

Additional Information about the Proposed Business Combination and Extension and Where to Find It 

In connection with the proposed business combination, GRAF intends to file a preliminary proxy statement and a definitive proxy statement with the SEC. In addition, GRAF has filed a preliminary proxy statement and intends to file a definitive proxy statement to be used at its special meeting of stockholders to approve an extension of time in which GRAF must complete a business combination or liquidate the trust account that holds the proceeds of GRAF's initial public offering (the "Extension"). GRAF's stockholders and other interested persons are advised to read, when available, the preliminary proxy statements and the amendments thereto and the definitive proxy statements and documents incorporated by reference therein filed in connection with the proposed transaction and the Extension, as these materials will contain important information about Velodyne, GRAF,  the proposed transaction and the Extension. When available, the definitive proxy statement and other relevant materials for the proposed business combination and the Extension will be mailed to stockholders of GRAF as of a record date to be established for voting on the proposed business combination and the Extension, respectively. Stockholders will also be able to obtain copies of the preliminary proxy statements, the definitive proxy statements and other documents filed with the SEC that will be incorporated by reference therein, without charge, once available, at the SEC's web site at, or by directing a request to:: Graf Industrial Corp., 118 Vintage Park Blvd., Suite W-222, Houston, TX 77070, Attention: James A. Graf, Chief Executive Officer,  

Participants in the Solicitation 

GRAF and its directors and executive officers may be deemed participants in the solicitation of proxies from GRAF's shareholders with respect to the business combination and the Extension. A list of the names of those directors and executive officers and a description of their interests in GRAF is contained in GRAF's annual report on Form 10-K for the fiscal year ended December 31, 2019, which was filed with the SEC and is available free of charge at the SEC's web site at, or by directing a request to Graf Industrial Corp., 118 Vintage Park Blvd., Suite W-222, Houston, TX 77070, Attention: James A. Graf, Chief Executive Officer,

Additional information regarding the interests of such participants will be contained in the proxy statement for the proposed business combination and Extension when available. Velodyne and its directors and executive officers may also be deemed to be participants in the solicitation of proxies from the shareholders of GRAF in connection with the business combination and the Extension. A list of the names of such directors and executive officers and information regarding their interests in the proposed business combination and the Extension will be included in the proxy statement for the proposed business combination and the Extension, respectively, when available. 

About Graf Industrial Corp. 

Graf Industrial Corp. is a special purpose acquisition company founded by James Graf and Michael Dee, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination. GRAF began trading on the NYSE in October 2018 and its common stock, units and warrants trade under the ticker symbols GRAF, GRAF.U and GRAF WS, respectively. GRAF's website is

About Velodyne Lidar, Inc.

Velodyne Lidar is a global leader in lidar technology providing real-time 3D vision for autonomous systems thereby empowering the autonomous revolution by allowing machines to see their surroundings. Its lidar-based smart vision solutions are well known in the automotive industry, but also deployed in many nonautomotive applications, such as last-mile delivery, autonomous mobile robots, unmanned aerial vehicles (UAVs), advanced security systems, and smart city initiatives.

Forward Looking Statements 

Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside GRAF's or Velodyne's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the inability to complete the proposed business combination or the Extension; the inability to recognize the anticipated benefits of the proposed business combination; the inability to meet the NYSE's listing standards; costs related to the business combination; Velodyne's ability to manage growth; Velodyne's ability to execute its business plan; the timing of revenues from existing customers, including uncertainties related to the ability of Velodyne's customers to commercialize their products and the ultimate market acceptance of these products; the uncertain impact of the COVID-19 pandemic on Velodyne's and its customers' businesses; uncertainties related to Velodyne's estimates of the size of the markets for its products; the rate and degree of market acceptance of Velodyne's products; the success of other competing lidar and sensor-related products and services that exist or may become available; Velodyne's ability to identify and integrate acquisitions; rising costs adversely affecting Velodyne's profitability; uncertainties related to Velodyne's current litigation and potential litigation involving GRAF or Velodyne or the validity or enforceability of Velodyne's intellectual property; and general economic and market conditions impacting demand for Velodyne's products and services. Other factors include the possibility that the proposed business combination does not close, including due to the failure to receive required security holder approvals, or the failure of other closing conditions. Neither GRAF nor Velodyne undertakes any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. 


This release shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

Contact information

Graf Industrial Corp.
James Graf
Chief Executive Officer
(310) 745-8669

Velodyne Lidar, Inc.
Andrew Hamer
Chief Financial Officer



Cision View original content:

SOURCE Graf Industrial Corp.

Company Name: Graf Industrial Corp., Velodyne Lidar, Inc.
Financial data for Graf Industrial Corp., Velodyne Lidar, Inc.

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