indie Semiconductor Enters Definitive Merger Agreement with THBR
indie Semiconductor Enters Definitive Merger Agreement with Thunder Bridge Acquisition II, Ltd.
indie Semiconductor is a leading pure-play provider of next-generation semiconductor and software solutions for the rapidly growing Autotech market, enabling ADAS/Autonomous, Connectivity, User Experience and Vehicle Electrification applications
Business combination with Thunder Bridge Acquisition II, Ltd. (Nasdaq: THBR) positions indie to capitalize on >22B of strategic backlog and an additional 2.5B in identified pipeline opportunities driven by deep relationships with Tier 1 automotive suppliers
Provides up to 495M in cash to the combined company before expenses, comprised of up to 345M in cash held by Thunder Bridge II in trust assuming no redemptions and an upsized 150M fully committed common stock PIPE at $10.00 per share, including anchor investments from leading long-term institutional shareholders
Estimated post-transaction equity value of approximately 1.4B based on current assumptions; expected to be listed on the Nasdaq under the ticker symbol INDI following an anticipated transaction close in the first quarter of 2021
indie shareholders will rollover 100% of their equity positions through indie’s transition into the publicly listed entity
Net proceeds from the transaction to accelerate deployment of solutions to existing customers and fund pent-up demand for additional programs
Today, indie’s automotive semiconductor portfolio addresses a $16 billion market, according to IHS, which is expected to exceed $38 billion by 2025 driven by strong demand for silicon and software content in automobiles.
indie’s best-in-class, mixed signal system-on-a-chip (SoC) solutions are currently on 12 Tier 1 approved vendor lists, contributing to a strategic backlog position of more than $2 billion, defined as projected revenues based on existing contracts, design and pricing terms and historic production trends.
finance.yahoo.com/news/indie-semiconductor-enters-definitive-merger-120000095.html
indie Semiconductor is a leading pure-play provider of next-generation semiconductor and software solutions for the rapidly growing Autotech market, enabling ADAS/Autonomous, Connectivity, User Experience and Vehicle Electrification applications
Business combination with Thunder Bridge Acquisition II, Ltd. (Nasdaq: THBR) positions indie to capitalize on >22B of strategic backlog and an additional 2.5B in identified pipeline opportunities driven by deep relationships with Tier 1 automotive suppliers
Provides up to 495M in cash to the combined company before expenses, comprised of up to 345M in cash held by Thunder Bridge II in trust assuming no redemptions and an upsized 150M fully committed common stock PIPE at $10.00 per share, including anchor investments from leading long-term institutional shareholders
Estimated post-transaction equity value of approximately 1.4B based on current assumptions; expected to be listed on the Nasdaq under the ticker symbol INDI following an anticipated transaction close in the first quarter of 2021
indie shareholders will rollover 100% of their equity positions through indie’s transition into the publicly listed entity
Net proceeds from the transaction to accelerate deployment of solutions to existing customers and fund pent-up demand for additional programs
Today, indie’s automotive semiconductor portfolio addresses a $16 billion market, according to IHS, which is expected to exceed $38 billion by 2025 driven by strong demand for silicon and software content in automobiles.
indie’s best-in-class, mixed signal system-on-a-chip (SoC) solutions are currently on 12 Tier 1 approved vendor lists, contributing to a strategic backlog position of more than $2 billion, defined as projected revenues based on existing contracts, design and pricing terms and historic production trends.
finance.yahoo.com/news/indie-semiconductor-enters-definitive-merger-120000095.html
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