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indie Semiconductor Completes Exchange Offer and Consent Solicitation and Notice to Exercise Right to Exchange Remaining Outstanding Warrants
ALISO VIEJO, Calif.--(BUSINESS WIRE)-- indie Semiconductor, Inc. (NASDAQ: INDI) (“indie” or the “Company”), an Autotech solutions innovator, has completed
About this update from Indie Semiconductor, Inc.
[{"type":"text","content":" ALISO VIEJO, Calif.--(BUSINESS WIRE)--\nindie Semiconductor, Inc. (NASDAQ: INDI) (“indie” or the “Company”), an Autotech solutions innovator, has completed its previously announced exchange offer (the “Offer”) and consent solicitation (the “Consent Solicitation”) relating to its outstanding (i) public warrants to purchase shares of Class A common stock of the Company, par value $0.0001 per share (the “Class A common stock”), which warrants trade on The Nasdaq Capital Market under the symbol “INDIW” (the “public warrants”), and (ii) private placement warrants to purchase shares of Class A common stock (the “private placement warrants” and, together with the public warrants, the “warrants”). The Company issued 7,027,517 shares of Class A common stock in exchange for the Warrants tendered in the Offer.\n\n\nThe Company also entered into the related amendment to the warrant agreement governing the warrants (the “Amendment No. 2”) and announced that it will exercise its right, in accordance with the terms of Amendment No. 2, to exchange all remaining untendered Warrants at an exchange ratio of 0.2565 shares of Class A common stock for each Warrant. The Company has fixed the date for such exchange as November 9, 2023.\n\n\nAs a result of the completion of the Exchange Offer and the upcoming exchange for the remaining untendered Warrants, no Warrants will remain outstanding. Accordingly, the Warrants are expected to be suspended from trading on the Nasdaq Capital Market (“Nasdaq”) as of the close of business on November 8, 2023, and will be delisted. The Class A common stock will continue to be listed and trade on the Nasdaq under the symbol INDI.\n\n\nThe Company engaged BofA Securities as the dealer manager for the Offer and Consent Solicitation, D.F. King & Co., Inc. as the information agent for the Offer and Consent Solicitation, and Continental Stock Transfer & Trust Company served as the exchange agent for the Offer and Consent Solicitation.\n\n\nAbout indie\n\n\nindie is empowering the Autotech revolution with next generation automotive semiconductors and software platforms. We focus on developing innovative, high-performance and energy-efficient technology for ADAS, user experience and electrification applications. Our mixed-signal SoCs enable edge sensors spanning Radar, LiDAR, Ultrasound, and Computer Vision, while our embed...