HDBaseT Originator Valens Taking Itself Public

Valens Semiconductor, originator of HDBaseT high-speed connectivity technology for home theater and autonomous vehicles (see 1704140047), will combine with PTK, a “special purpose acquisition company,” and take itself public on the New York Stock Exchange, said the chipmaker Tuesday. Valens will use the proceeds from the initial public offering to speed development and commercialization of “next generation products and to fully fund the company through profitability,” it said. The stock will trade as VLN once its IPO is complete, it said. The merger transaction is expected to close in the fall and requires regulatory approvals, plus Valens and PTK shareholders' ratifications, said a spokesperson.