Valens Semiconductor, which provides high-speed connectivity solutions for the audio-video and automotive markets, said its registration statement on Form F-4 has been declared effective by the SEC. The company’s merger partner, PTK Acquistion, set a Sept. 28 meeting for stockholders to vote on the $1.16 billion deal.
Announced in May, the transaction of approximately $240 million includes up to $115 million in trust from PTK (assuming no redemptions) and $125 million in cash from a fully subscribed PIPE.
Based in Israel, the chipmaker is expected to trade on the NYSE under VLN if PTK shareholders approve the deal. Read more.
