Latest News
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.

By virtue of our combination, we believe that indie will have the financial firepower to accelerate the company's strategic growth initiatives and help create an Autotech pureplay powerhouse."

Morgan Stanley and Co. LLC is serving as sole financial advisor and lead private placement agent to Thunder Bridge II. Deutsche Bank Securities is serving as lead financial advisor and lead capital markets advisor to indie Semiconductor and joint private placement agent to Thunder Bridge II. Goldman Sachs and Nomura Greentech are also serving as financial advisors to indie Semiconductor.

Nelson Mullins Riley and Scarborough, Littler Mendelson and Ellenoff Grossman and Schole are serving as legal advisors to Thunder Bridge II while Loeb and Loeb as well as Rodriguez Wright are serving as legal advisors to indie Semiconductor.

Thunder Bridge acquisition II, Ltd. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganisation or similar business combination with one or more businesses.

indie is empowering the Autotech revolution with next generation automotive semiconductors and software platforms.
Date Published: 11/06/2021