SEC Clears Valens Registration to Take Itself Public

Valens Semiconductor, originator of the HDBaseT high-speed connectivity standard for home theater and autonomous vehicles, said the SEC declared effective its registration statement to combine with special purpose acquisition company PTK and take itself public on the New York Stock Exchange. A special meeting of PTK's shareholders is Sept. 28 to ratify the $1.16 billion combination, which was first announced in May (see 2105250023). Valens still expects the transaction to close by fall, it said Monday.