AEye, Inc. is in talks to go public through a merger with CF Finance Acquisition Corp. III (NasdaqCM:CFAC), Cantor Fitzgerald, L.P. blank-check firm, according to people with knowledge of the matter. The valuation couldn't immediately be learned.

A deal hasn't been finalized, and terms could change or talks could collapse. Shares of CF Finance Acquisition Corp. III jumped as much as 32% after Bloomberg reported the discussions.

A Cantor Fitzgerald representative declined to comment. AEye didn't immediately respond to requests for comment.