Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, February 11, 2022

Article Excerpt

INDIE SEMICONDUCTOR INC., $8.09, symbol INDI on Nasdaq, is a manufacturer of automotive semiconductors (computer chips) and software used in the sensors for advanced driver assistance systems, including LiDAR. Based in California, the company has offices in the U.S., Europe, Israel, Japan, and China. LiDAR sensors on vehicles emit single particles of light, known as photons, that strike nearby objects such as cars, pedestrians, and trees. The photons then bounce back to the sensor. The LiDAR system records each photon’s roundtrip data, measuring distance and time to every object in the vehicle’s vicinity. In December 2020, Thunder Bridge Acquisition II Ltd., a U.S. special purpose acquisition company, or SPAC, announced that it would merge with privately held Indie Semiconductor to complete the qualifying transaction required for this type of acquisition. SPACs are a specialized kind of IPO (Initial Public Offering, or new stock issue). One key difference is that SPACs, also referred to as “blank-check companies,” raise money from investors without providing a..

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