---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-278440"
form_type: "8-K"
ticker: "OUST"
cik: "0001816581"
company_name: "Ouster, Inc."
filed_at: "2022-11-07T23:59:59+00:00"
generated_at: "2026-06-22T05:47:59.030761+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Ouster and Velodyne merge in all-stock deal; Velodyne stockholders get 0.8204 Ouster shares each

## Summary
- Exchange ratio of 0.8204 Ouster shares per Velodyne share; combined ownership ~50% each on fully diluted basis.
- Expected close in first half 2023; subject to stockholder and regulatory approvals, Hart-Scott-Rodino.
- Post-closing board: 4 directors each from Ouster and Velodyne; Ted Tewksbury (Velodyne CEO) as executive chairman, Angus Pacala (Ouster CEO) remains CEO.
- Termination fee of $7M payable in certain circumstances; parties agree to dismiss pending litigation between them.
- Hercules loan covenant amended: post-close Ouster must maintain at least $60M liquidity; trailing revenue covenant eliminated.

## SEC filing metadata
- accession: 0001193125-22-278440
- form_type: 8-K
- ticker: OUST
- cik: 0001816581
- company_name: Ouster, Inc.
- filed_at: 2022-11-07T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1816581/000119312522278440/0001193125-22-278440-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1816581/000119312522278440/d386513d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-278440
- JSON: https://secwatch.observer/filing/0001193125-22-278440.json
- Plain text: https://secwatch.observer/filing/0001193125-22-278440.txt

## Key facts
- Material Agreements
  Ouster, Inc. entered into Agreement and Plan of Merger with Velodyne Lidar, Inc. valued at Merger Agreement providing for the merger of Merger Sub I with and into Velodyne, followed by merger (effective 2022-11-04).
  - Action: entry
  - Agreement: merger
  - Counterparty: Velodyne Lidar, Inc.
  - Value: Merger Agreement providing for the merger of Merger Sub I with and into Velodyne, followed by merger
  - Effective: 2022-11-04
  source text: On November 4, 2022, Ouster, Inc., a Delaware corporation (“ Ouster ”), Velodyne Lidar, Inc., a Delaware corporation (“ Velodyne ”), Oban Merger Sub, Inc., a Delaware corporation and a direct, wholly owned subsidiary of Ouster (“ Merger Sub I ”), and Oban Merger Sub II LLC, a Delaware limited liability company and a direct, wholly owned subsidiary of Ouster (“ Merger Sub II ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1816581/000119312522278440/0001193125-22-278440-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.