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Benzinga
Benzinga
Business
Anusuya Lahiri

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

SPAC Airbus SE Cantor Fitzgerald Israel OneWeb
  • 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.
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