San Jose self-driving tech unicorn may go public through reverse merger

Self-driving sensor unicorn Velodyne Lidar Inc. is reportedly in talks to go public through a reverse merger.

Bloomberg cited unnamed sources who said the San Jose company is in talks with Houston-based Graf Industrial Corp., which is a special purpose acquisition company (SPAC).

The move comes about a year after Velodyne made a confidential filing with the Securities and Exchange Commission for an IPO that it ended up not doing. Founder David Hall said in the fall that he was looking into the possibility of doing a direct listing instead.