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The company, which provides high-speed connectivity solutions for the audio-video and automotive markets, begins trading on Thursday on the NYSE.

Valens agrees SPAC merger at $1.16b valuation The Israeli chipmaker has developed high-speed connectivity solutions for the audio-video and automobile markets. Israeli chipmaker Valens Semiconductor today announced that it has signed an agreement to merge with the US special purpose acquisition company (SPAC) PTK Acquisition Corp. Following the close of the merger, Valens will trade on the NYSE under the VLN ticker at a company valuation of $1.16 billion. According to IVC, Valens has raised $167 million in five financing rounds, the last of which was at the end of 2018 at a company valuation ...