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

  • 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 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 TSAT, OneWeb, ST iDirect, and Airbus SE EADSF 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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