Valens Shares to Begin Trading Thursday on NYSE

September 30, 2021 by Paul Gluckman|Mergers & Acquisitions

Valens Semiconductor, originator of HDBaseT, will begin trading Thursday on the New York Stock Exchange with the closing of its $1.16 billion “business combination” with special purpose acquisition company PTK, said the companies Wednesday. PTK shareholders approved the transaction in a special meeting Tuesday, they said. The SEC declared the transaction effective last month (see 2108300003). Valens reported a $3.7 million net loss for Q2 on revenue of $17.5 million, an increase of 9.2% from the 2020 quarter.