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.
EGH Acquisition Corp. (NASDAQ:EGHAU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EGHAU”, Friday, May 8, 2025. The new SPAC aims to combine with a target company in the energy transition or sustainability arena that help industries achieve efficiencies and decarbonization....
At the SPAC of Dawn Fed Chair Jerome Powell announced yesterday that the body intends to keep rates unchanged, earning him the moniker “FOOL” by US President Donald Trump. But, the announcement could bring some stability to market, which has seen macro factors pull it a variety of directions since the start of the year....
Tariffs, Trade Routes, and Tech: Freightos’ View from the Cargo Frontlines 2025 is shaping up to be a wild year for global trade, and few companies have a vantage point on the impacts of every-changing tariff policy quite like digital cargo-booking platform Freightos (NASDAQ:CRGO). This week, we catch up with Freightos CEO Zvi Schreiber. He shares...
NMP (NASDAQ:NMPU) has filed for a $100 million SPAC to conduct a broad search for a target, leveraging its team’s past consultancy work. The new SPAC’s units are set to contain one right to a 1/5 share. That is more generous to investors than the unit structure for Maxim Group’s other new SPAC filing this...
At the SPAC of Dawn Futures are green ahead of the Fed Chair Jerome Powell’s highly anticipated press conference at 2:30 pm ET today following two days of Federal Reserve meetings. Several other Fed members are expected to speak on Friday, but any news on rate changes is likely to come out of today’s speech,...