HOD HASHARON, Israel, Sept. 21,
2021 /PRNewswire/ -- Valens, a premier provider of
high-speed connectivity solutions for the audio-video and
automotive markets, today announced that it will be presenting
at the Evercore ISI Autotech & AI Forum on Wednesday, September 22, at 10:15 a.m. EDT.
Participating in the virtual fireside chat will be Valens'
CEO Gideon Ben-Zvi, Valens' CFO Dror Heldenberg and
PTK Acquisition Corp.'s (NYSE: PTK) CEO Peter Kuo. The
live webcast of the presentation can be accessed in the Investors
section of Valens' website
at https://www.valens.com/investors or
at https://wsw.com/webcast/evercore20/vals/2370942.
In May, Valens entered into a definitive merger agreement with
PTK Acquisition Corp. (NYSE: PTK) ("PTK"), a special purpose
acquisition company, that would result in Valens being listed on
the New York Stock Exchange under the symbol "VLN" following the
close of the transaction. The transaction is expected to close in
the fall of 2021 and is subject to customary closing conditions,
including a registration statement being declared effective by the
Securities and Exchange Commission ("SEC").
About Valens
Valens is a leading provider of
semiconductor products, pushing the boundaries of connectivity by
enabling long-reach, high-speed video and data transmission for the
audio-video and automotive industries. Valens'
Emmy® award-winning HDBaseT technology is the leading standard
in the professional audio-video market with tens of millions of
Valens' chipsets integrated into thousands of HDBaseT-enabled
products. Valens Automotive is a key enabler of the evolution of
autonomous driving, providing chipsets that are on the road in
vehicles around the world. The underlying technology has been
selected to become the basis for MIPI A-PHY, the global standard
for automotive connectivity. Founded in 2006, Valens is based in
Hod Hasharon, Israel, with offices in the
US, Europe and Asia. For more
information: www.valens.com.
About PTK Acquisition Corp.
PTK Acquisition Corp. is a blank check company formed for the
purpose of effecting a merger, share exchange, asset acquisition,
share purchase, reorganization or similar business combination with
one or more businesses. With extensive operational and investment
experience in the hardware and semiconductor industries, the PTK
management team leverages global market relationships to tap into
synergies across the electronics and automotive value chain. PTK
Acquisition Corp. targets companies that focus on the most
innovative subsectors within corporate and institutional
information technology, hardware and software systems, and markets
for the consumer-oriented gaming and digital entertainment. For
more information: www.ptktech.com.
Important Information and Where to Find It
The
proposed business combination will be submitted to shareholders of
PTK for their consideration. Valens has filed a registration
statement on Form F-4 (the "Registration Statement") with the SEC
which includes preliminary and definitive proxy statements to be
distributed to PTK's shareholders in connection with PTK's
solicitation for proxies for the vote by PTK's shareholders in
connection with the proposed business combination and other matters
as described in the Registration Statement, as well as the
prospectus relating to the offer of the securities to be issued to
PTK's shareholders in connection with the completion of the
proposed business combination. After the Registration Statement has
been filed and declared effective, PTK will mail a definitive proxy
statement and other relevant documents to its shareholders as of
the record date established for voting on the proposed business
combination. PTK's shareholders and other interested persons are
advised to read the preliminary proxy statement / prospectus and
any amendments thereto and, once available, the definitive proxy
statement / prospectus, in connection with PTK's solicitation of
proxies for its special meeting of shareholders to be held to
approve, among other things, the proposed business combination,
because these documents will contain important information about
PTK, Valens and the proposed business combination. Shareholders may
also obtain a copy of the preliminary or definitive proxy statement
as well as other documents filed with the SEC regarding the
proposed business combination and other documents filed with the
SEC by PTK, without charge, at the SEC's website located
at www.sec.gov or by directing a request to PTK
Acquisition Corp., 4601 Wilshire, Boulevard, Suite
240, Los Angeles, California 90010.
Participants in the Solicitation
PTK, Valens and certain of their respective directors, executive
officers and other members of management and employees may, under
SEC rules, be deemed to be participants in the solicitations of
proxies from PTK's shareholders in connection with the proposed
business combination. Information regarding the persons who may,
under SEC rules, be deemed participants in the solicitation of
PTK's shareholders in connection with the proposed business
combination is set forth in PTK's proxy statement / prospectus
filed with the SEC. You can find more information about PTK's
directors and executive officers in PTK's 10-K filed with the SEC
on April 1, 2021. Additional information regarding the
participants in the proxy solicitation and a description of their
direct and indirect interests is included in the proxy statement /
prospectus. Shareholders, potential investors and other interested
persons should read the proxy statement / prospectus carefully
before making any voting or investment decisions. You may obtain
free copies of these documents from the sources indicated
above.
INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN
APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY
AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS
OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION
CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL
OFFENSE.
Forward-Looking Statements
This press release includes "forward-looking statements" within the
meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"estimate," "plan," "project," "forecast," "intend," "will,"
"expect," "anticipate," "believe," "seek," "target" or other
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements include, but are not limited to,
statements regarding the anticipated transaction and future
economic and market conditions. These statements are based on
various assumptions, whether or not identified in this press
release, and on the current expectations of Valens' and PTK's
management and are not predictions of actual performance. These
forward-looking statements are provided for illustrative purposes
only and are not intended to serve as, and must not be relied on by
any investor as, a guarantee, an assurance, a prediction or a
definitive statement of fact or probability. Actual events and
circumstances are difficult or impossible to predict and will
differ from assumptions. Many actual events and circumstances are
beyond the control of Valens and PTK. These forward-looking
statements are subject to a number of risks and uncertainties,
including changes in domestic and foreign business, market,
financial, political and legal conditions; the inability of the
parties to successfully or timely consummate the proposed business
combination, including the risk that any required regulatory
approvals are not obtained, are delayed or are subject to
unanticipated conditions that could adversely affect the combined
company or the expected benefits of the proposed business
combination or that the approval of the shareholders of PTK or
Valens is not obtained; failure to realize the anticipated benefits
of the proposed business combination; risks relating to the
uncertainty of the projected financial information with respect to
Valens; future global, regional or local economic and market
conditions; the development, effects and enforcement of laws and
regulations; Valens' ability to manage future growth; Valens'
ability to develop new products and solutions, bring them to market
in a timely manner, and make enhancements to them; the effects of
competition on Valens' future business; the amount of redemption
requests made by PTK's public shareholders; the ability of PTK or
the combined company to issue equity or equity-linked securities in
connection with the proposed business combination or in the future;
the outcome of any potential litigation, government and regulatory
proceedings, investigations and inquiries; the effects of health
epidemics, such as the recent global COVID-19 pandemic, have had
and could in the future have on Valens' revenue, its employees and
results of operations; the cyclicality of the semiconductor
industry; Valens' ability to adjust its supply chain volume due to
changing market conditions or failure to estimate its customers'
demand, including during any downturn in the automotive or
audio-video markets; disruptions in relationships with any one of
Valens' key customers; difficulty selling products if customers do
not design Valens products into their product offerings; Valens'
dependence on winning selection processes and ability to generate
timely or sufficient net sales or margins from those wins;
political conditions in Israel; and those factors discussed in
PTK's 10-K filed with the SEC on April 1, 2021 under the
heading "Risk Factors," and other documents of PTK filed, or to be
filed, with the SEC. If any of these risks materialize or our
assumptions prove incorrect, actual results could differ materially
from the results implied by these forward-looking statements. There
may be additional risks that neither Valens nor PTK presently know
or that Valens and PTK currently believe are immaterial that could
also cause actual results to differ from those contained in the
forward-looking statements. In addition, forward-looking statements
reflect Valens' and PTK's expectations, plans or forecasts of
future events and views as of the date of this press release.
Valens and PTK anticipate that subsequent events and developments
will cause Valens' and PTK's assessments to change. However, while
Valens and PTK may elect to update these forward-looking statements
at some point in the future, Valens and PTK specifically disclaim
any obligation to do so. These forward-looking statements should
not be relied upon as representing Valens' and PTK's assessments as
of any date subsequent to the date of this press release.
Accordingly, undue reliance should not be placed upon the
forward-looking statements.
Valens Investor Contacts:
Matthew Keating, CFA
Financial Profiles, Inc.
US: +1 310-622-8230
ValensIR@finprofiles.com
Larry Clark, CFA
Financial Profiles, Inc.
U.S.: +1 310-622-8223
ValensIR@finprofiles.com
Julie Kegley
Financial Profiles, Inc.
U.S.: +1 310-622-8246
ValensIR@finprofiles.com
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SOURCE Valens
