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Israeli Chipmaker Valens In PTK SPAC Merger Talks
- Deal with U.S. SPAC could value firm at up to $1.2 billion
- Valens makes semiconductors for auto, audio-visual industries
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Israeli chipmaker Valens Semiconductor Ltd. is in talks to go public through PTK Acquisition Corp., a blank-check firm, according to people with knowledge of the matter.
The special purpose acquisition company is seeking to raise $100 million or more in new equity to support a transaction that’s set to value the combined entity at between $1 billion and $1.2 billion, one of the people said.