Arbe Robotics Merging With Industrial Tech Acquisitions at $572M Valuation

Arbe Robotics

Arbe Robotics, a provider of next-generation 4D Imaging Radar solutions, and Industrial Tech Acquisitions announced that they have entered into a definitive business combination agreement and related agreements for a PIPE of $100 million in connection with the proposed merger.

The combined company is expected to have an implied post-money pro forma enterprise value of approximately $572 million and an equity value of approximately $722 million at closing, assuming no redemptions by ITAC public shareholders.  The transaction is expected to deliver $177 million of gross proceeds, including the contribution of up to approximately $77 million of cash held in Industrial Tech’s trust account and the $100 million PIPE.

Pendoing shareholder approval, upon closing the combined company will operate as Arbe Robotics and list on the Nasdaq under ARBE. Read more.

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