The Fly

Ouster, Velodyne Lidar achieve guidance, announce combined board of directors

Ouster (OUST) and Velodyne Lidar (VLDR) "announced the proposed designations for the Board of Directors of the Combined Company, subject to approval by the Ouster Board of Directors and closing the proposed merger of equals. After careful deliberation in the months following the announcement of the proposed merger, Ouster and Velodyne each selected their four designees to serve as directors of the Combined Company after the proposed merger closes." The companies also announced that Ouster achieved its FY22 guidance of $40M to $55M in revenue and 25%-30% in gross margins. Velodyne exceeded its Q4 guidance of $13M and $15M in billings and $12M to $14M in revenue."

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