Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Anusuya Lahiri

This Satellite Semiconductor Firm Looks To Go Public Via SPAC Merger With Endurance

  • Bloomberg reports that satellite semiconductor provider SatixFy Communications Ltd agreed to go public via a special purpose acquisition company (SPAC) merger.
  • SatixFy's deal with Endurance Acquisition Corp (NASDAQ:EDNC) will give the combined company a pro forma implied equity value of about $813 million.
  • Israel-based SatixFy is a fabless semiconductor company providing products based on its own chipsets whose customers include Telesat Corp (NASDAQ: TSAT), OneWeb, ST iDirect, and Airbus SE (OTC: EADSF) (OTC: EADSY).
  • The transaction includes a $29 million private investment in public equity (PIPE), with participation from institutional investors, including Sensegain Group and Antarctica Capital. 
  • CF Principal Investments LLC, a Cantor Fitzgerald affiliate, provided a committed equity facility of $75 million.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.