Israeli chipmaker Valens Semiconductor Ltd. is in talks to go public through PTK Acquisition, Bloomberg reports, citing people with knowledge of the matter.
The SPAC is seeking to raise $100 million or more in new equity to support a transaction that’s set to value the combined entity at between $1 billion and $1.2 billion, one of the people said.
Terms of the deal aren’t finalized and it’s possible talks could collapse. Read more.
