ALISO VIEJO, Calif. & Excellent FALLS, Va.–(Company WIRE)–indie Semiconductor, an Autotech solutions innovator, and Thunder Bridge Acquisition II, Ltd. (Nasdaq: THBR), a unique function acquisition company, now introduced the completion of their previously declared organization combination. The mixed company will keep the indie Semiconductor title with its common stock and warrants to start buying and selling on Nasdaq underneath the new ticker symbols “INDI” and “INDIW”, respectively, on June 11, 2021. The business combination was authorized at a particular meeting of Thunder Bridge Acquisition II’s shareholders on June 9, 2021.
“The completion of our small business mix with Thunder Bridge Acquisition II marks an remarkable milestone for indie,” stated Donald McClymont, indie’s Co-founder and CEO. “We launched indie back in 2007 on the straightforward concept of addressing the will need for ground breaking semiconductor program methods. Currently we are a rapidly escalating general public business centered on the automotive business with a world wide footprint and essential interactions with leading Tier 1 buyers and OEMs. Our innovative systems are serving to to re-architect tomorrow’s car or truck currently, solving the stage purpose increase in electronic efficiency and complexity demanded by our customers to make improvements to safety, facilitate seamless data connectivity, increase the user practical experience and accelerate electrification. Looking ahead, we are very well positioned to capitalize on our existing design win pipeline, generate scale and more consolidate in Autotech whilst generating shareholder benefit.”
“We are delighted to close our merger with the indie team,” reported Gary Simanson, President and CEO of Thunder Bridge Acquisition II. “indie has recognized an field-leading franchise, and by virtue of our mix, will have the money firepower to accelerate its strategic advancement initiatives and develop an Autotech pureplay powerhouse. Thunder Bridge’s target on substantial expansion technologies companies blended with our established capacity to offer significant fairness funds from the SPAC sponsor, IPO traders and PIPE individuals brought sizeable value to this transaction. Irrespective of whether in the growing current market for fiscal technology, these types of as REPAY (Nasdaq: RPAY), or in the burgeoning industry for automotive technological know-how these types of as indie Semiconductor (Nasdaq: INDI), the Thunder Bridge SPAC team is dedicated to its investors and assisting potent operating corporations understand their strategic objectives, accessibility community money marketplaces and create very long time period shareholder benefit.”
The company blend is envisioned to end result in gross proceeds of about $400 million to indie at closing, internet of Thunder Bridge Acquisition II’s shareholder redemptions.
In addition to Donald McClymont, pursuing completion of the small business blend, indie will keep its professional management team which include Ichiro Aoki, Co-founder and President Scott Kee, Co-founder and Chief Technological know-how Officer Thomas Schiller, Main Economical Officer and EVP of Method Ellen Bancroft, Basic Counsel, and Steve Machuga, Main Working Officer.
indie is empowering the Autotech revolution with future technology automotive semiconductors and software package platforms. We target on edge sensors for Innovative Driver Aid Methods like LiDAR, connected auto, person working experience and electrification purposes. These systems symbolize the core underpinnings of each electrical and autonomous vehicles, though the innovative person interfaces completely transform the in-cabin encounter to mirror and seamlessly join to the mobile platforms we depend on each and every day. We are an permitted seller to Tier 1 partners and our methods can be found in marquee automotive OEMs close to the planet. Headquartered in Aliso Viejo, CA, indie has layout facilities and revenue places of work in Austin, TX Boston, MA Detroit, MI San Francisco and San Jose, CA Budapest, Hungary Dresden, Germany Edinburgh, Scotland and a number of areas all over China.
You should take a look at us at www.indiesemi.com to study much more.
About Thunder Bridge Acquisition II, Ltd.
Thunder Bridge Acquisition II, Ltd. is a blank look at company formed for the reason of effecting a merger, share exchange, asset acquisition, stock buy, reorganization or comparable small business blend with 1 or extra firms. In August 2019, Thunder Bridge Acquisition II, Ltd. consummated a $345 million original community offering of 34.5 million units (reflecting the underwriters’ workout of their above-allotment selection in total), just about every device consisting of just one Class A common shares and 1-half warrant, every full warrant enabling the holder thereof to obtain a person Class A ordinary share at a price tag of $11.50 for every share.
This communication is made up of “forward-wanting statements” inside the which means of the Non-public Securities Litigation Reform Act of 1995. These types of statements include things like, but are not minimal to, statements pertaining to our upcoming running benefits and benefits of the enterprise combination, and other statements recognized by words these types of as “will probable result,” “are expected to,” “will keep on,” “is predicted,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or phrases of comparable indicating. This sort of forward-hunting statements are primarily based upon the recent beliefs and expectations of our administration and are inherently subject to significant small business, economic and competitive uncertainties and contingencies, numerous of which are hard to forecast and normally further than our command. Genuine outcomes and the timing of situations may perhaps vary materially from the effects expected in these forward-wanting statements. In addition to things earlier disclosed in Thunder Bridge Acquisition II’s reports submitted with the SEC (which include people discovered beneath “Risk Factors” therein) and people recognized in other places in this communication, the next variables, among many others, could lead to precise success and the timing of functions to differ materially from the anticipated benefits or other expectations expressed in the ahead-seeking statements: our potential to create, industry and gain acceptance for new solutions the availability of semiconductors and producing ability aggressive goods and pricing pressures, and financial instability in our focus on markets indie’s long term funds requirements and resources and uses of income indie’s skill to acquire funding for its operations and upcoming advancement changes in the current market for indie’s products and solutions and providers expansion options and alternatives the over-regular marketplace development of products and market places that indie has specific indie’s prepare to increase profits by means of the introduction of new merchandise in its present item family members as well as in new merchandise classes and households the cyclical nature of the semiconductor business indie’s means to effectively introduce new systems and solutions the demand for the items into which indie’s goods are integrated indie’s capacity to precisely estimate demand from customers and acquire provides from third-celebration producers indie’s ability to gain aggressive bid assortment processes the final result of any legal proceedings that may be instituted versus indie or Thunder Bridge II subsequent the Organization Mixture and transactions contemplated thus the inability to retain the listing of the Class A frequent inventory of the Firm on Nasdaq following the Company Combination the hazard that the Enterprise Blend disrupts present-day programs and functions the capability to acknowledge the anticipated benefits of the Business enterprise Mixture, which may perhaps be afflicted by, between other points, level of competition, and the potential of the Business to expand and control growth profitably fees related to the Business enterprise Blend. indie cautions that the foregoing list of variables is not exceptional.
All details established forth herein speaks only as of the day hereof, and we disclaim any intention or obligation to update any ahead-searching statements as a result of developments occurring after the date of this conversation apart from as essential by regulation.