Deal Snapshot
Indie Semiconductor Closes USD 1.4bn Merger with Thunder Bridge Acquisition II
Friday 11 June 2021

US-based automotive semiconductor and software specialist indie Semiconductor has closed a merger with special purpose acquisition company Thunder Bridge Acquisition II, Ltd. (NASDAQ: THBR), which will result in the combined entity continuing as a publicly listed company, trading on the NASDAQ as INDI, the company said.

The transaction reflects an implied equity value for the combined company of roughly USD 1.4bn. Upon closing, the combined company will receive up to USD 495m in cash, comprised of a USD 150m PIPE and up to USD 345m in cash held in trust by Thunder Bridge II, assuming no redemptions by THBR shareholders.

Date Published: 11/06/2021