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THBR Stock: 12 Things to Know About Thunder Bridge and the Indie Semiconductor SPAC Merger

Indie Semiconductor is planning to go public via a merger with special purpose acquisition company (SPAC) Thunder Bridge (NASDAQ:THBR) and THBR stock is on the rise following the news.

Image of two men shaking hands over a table.

Source: Natee Meepian / Shutterstock.com

Here’s what investors need to know about the SPAC merger between indie Semiconductor and Thunder Bridge.

  • The merger will have the newly-combined company taking on the indie Semiconductor name.
  • It will also result in THBR stock changing to the INDI stock ticker but still trading on the Nasdaq Exchange.
  • This will also have the current management team of indie Semiconductor leading the combined company.
  • The deal implies a value of $1.4 billion for the company once the SPAC merger is complete.
  • It will also provide indie Semiconductor with $495 million in cash, before expenses, to make use of.
  • This comes from $345 million in cash held by Thunder Bridge II and $150 million from a private investment in public equity (PIPE).
  • The SPAC merger has unanimous support from both indie Semiconductor’s and Thunder Bridge’s Boards of Directors.
  • The deal is set to close during the first quarter of 2021.
  • Indie Semiconductor is a company focused on the automotive semiconductor and software industry.
  • According to IHS, this has it targeting a $16 billion market, which is expected to increase to $38 billion by 2025.
  • Its strategic backlog position is valued at more than $2 billion.
  • That’s based on its “projected revenues based on existing contracts, design and pricing terms and historic production trends.”

THBR stock was up 4.9% as of Tuesday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2020/12/thbr-stock-indie-semiconductor-spac-merger-details/.

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