Indie Semiconductor (NASDAQ:INDI), which merged with Thunder Bridge II in June 2021, announced this morning that it has launched an exchange offer to convert each outstanding warrant to 0.285 Class A shares in the company.
At Indie’s last closing price of $6.22, this is $1.77 of value each, although the stock has been rising since the opening bell to about $6.78 as of this writing. Indie warrants (NASDAQ:INDIW) are meanwhile up over +52% to $1.91 this morning.
Thunder Bridge II included 1/2 warrants in its units and 27,399,887 of these remain outstanding. The exchange is expected to generate a total of 7,808,968 new Indie shares if all warrant holders accept, joining 153,171,121 existing shares.
Indie has solicited the consent of warrant holders in this matter and about 32% of outstanding warrants have already agreed to the exchange. Other holders have until midnight ET October 19 to do so, or their warrants will be automatically exchanged at a 10% discount to 0.2565 shares each, should the offer pass.
California-based Indie provides hardware and software solutions as a part of builds for both autonomous and electric vehicles. It initially announced its combination with Thunder Bridge II in December 2020.
Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...
M3-Brigade V (NASDAQ:MBAV) has entered into a definitive agreement to combine with crypto treasury firm ReserveOne, assembling about $1 billion in equity funding. ReserveOne is setting up a diversified Bitcoin and digital asset treasury with a portion of its investments going towards blockchain infrastructure and venture raises. The combined company is expected to trade on...
At the SPAC of Dawn As the SPAC market has warmed in 2025, only 21 of the 70 SPACs (30%) that have IPO’d thus far have overfunded their trusts to draw in investors and none of these funded to more than 101%. By contrast, 87% of 2023 SPACs were overfunded – some to as high...
Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...