ALISO VIEJO, Calif.--(BUSINESS WIRE)--indie Semiconductor, an Autotech solutions innovator, which is currently in the process of merging with Thunder Bridge Acquisition II, Ltd. (Nasdaq: THBR), a special purpose acquisition company, today unveiled a family of high-performance sensing solutions supporting automotive parking-assist applications. Leveraging its mixed signal, digital signal processing (DSP) and power management expertise, indie’s highly integrated Echosense™ and Sonosense™ devices incorporate proprietary DSP algorithms that reduce hardware requirements and lower overall costs. The solutions embody the company’s holistic and optimized approach to solving the Autotech industry’s most challenging architectural issues.
“With increasing global concerns over enhanced safety, automotive manufacturers are actively including features such as intelligent parking-assist systems into their vehicles,” said Paul Hollingworth, indie’s executive vice president of sales and marketing. “indie is excited to be enabling differentiated technologies that support advanced driver assistance systems, and ultimately fully autonomous vehicles. Our Echosense™ and Sonosense™ platforms provide OEMs with comprehensive architectures that simplify their design cycles, offer significant cost advantages and deliver the safety benefits drivers demand.”
In addition to its suite of parking-assist solutions, indie is also developing cutting-edge platforms for computer vision cameras, FMCW LiDAR, radar and sensor fusion applications serving Tier 1 customers and major automotive OEMs.
indie’s products serve four types of automotive applications: safety systems, connected car, user experience and electrification. According to IHS research, these key functions are projected to grow at a 19 percent compounded annual growth rate, from $16 billion in 2020 to $38 billion by 2025, substantially outpacing the broader global automotive semiconductor market during the same period.
About Sonosense™ and Echosense™
Sonosense™ (iND83207) and Echosense™ (iND83208) are high performance, ultrasonic automotive parking-assist solutions. Both incorporate a powerful 32-bit ARM® M0 core with 64kB of FLASH and 16kB of SRAM. A low-noise receiver is combined with proprietary DSP hardware to detect object echoes. Object identification algorithms are implemented in the ARM® M0 core, reducing the hardware requirements of the devices and substantially lowering overall system cost. Both devices include an integrated power management unit (PMU) directly connected to the car battery, from which all the supplies required by the device are generated. Connectivity is provided through fully-integrated LIN interfaces.
The Echosense™ ultrasound transducer is driven by a high-voltage full-bridge driver enabling a transformer-less solution. Sonosense™ integrates two regulated current sources for driving the primary side of a center-tapped transformer, with the secondary side powering an ultrasonic transducer.
For more information about these devices and other indie solutions, please contact info@indiesemi.com.
About indie
indie is empowering the Autotech revolution with next generation automotive semiconductors and software platforms. We focus on edge sensors for Advanced Driver Assistance Systems including LiDAR, connected car, user experience and electrification applications. These technologies represent the core underpinnings of both electric and autonomous vehicles, while the advanced user interfaces transform the in-cabin experience to mirror and seamlessly connect to the mobile platforms we rely on every day. We are an approved vendor to Tier 1 partners and our solutions can be found in marquee automotive OEMs around the world. Headquartered in Aliso Viejo, CA, indie has design centers and sales offices in Austin, TX; Boston, MA; Detroit, MI; San Francisco and San Jose, CA; Budapest, Hungary; Dresden, Germany; Edinburgh, Scotland and various locations throughout China.
Please visit us at www.indiesemi.com to learn more.
In December 2020, indie announced it entered into a definitive agreement to merge with Thunder Bridge Acquisition II, Ltd. (Nasdaq: THBR), a special purpose acquisition company. The transaction is expected to close in early Spring 2021, subject to regulatory and stockholder approvals, and other customary closing conditions. The combined company will retain the indie Semiconductor name and be listed on Nasdaq under the new ticker symbol “INDI.”
About Thunder Bridge Acquisition II, Ltd.
Thunder Bridge Acquisition II, Ltd. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. In August 2019, Thunder Bridge Acquisition II, Ltd. consummated a $345 million initial public offering (the “IPO”) of 34.5 million units (reflecting the underwriters’ exercise of their over-allotment option in full), each unit consisting of one of the Company’s Class A ordinary shares and one-half warrant, each whole warrant enabling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Thunder Bridge Acquisition II’s securities are quoted on the Nasdaq stock exchange under the ticker symbols THBRU, THBR and THBRW.
Additional Information about the Transaction and Where to Find It
In connection with the proposed transaction, Thunder Bridge Acquisition II filed a registration statement on Form S-4 (the “Form S-4”), which includes a proxy statement/prospectus, with the Securities and Exchange Commission (the “SEC”) on January 25, 2021, which was amended on March 23, 2021, and intends to file any and all additional relevant materials and other documents, as they become available, regarding the proposed transaction with the SEC. All persons, including Thunder Bridge Acquisition II’s shareholders are urged to read, the preliminary proxy statement/prospectus, included in the Form S-4, and the amendments thereto and the definitive proxy statement/prospectus and documents incorporated by reference therein filed in connection with the proposed business combination, as these materials will contain important information about indie, Thunder Bridge Acquisition II and the proposed business combination. Promptly after the Form S-4 is declared effective by the SEC, Thunder Bridge Acquisition II will mail the definitive proxy statement/prospectus and a proxy card to each shareholder entitled to vote at the meeting relating to the approval of the Business Combination and other proposals set forth in the proxy statement/prospectus. Before making any voting or investment decision, investors and shareholders of Thunder Bridge Acquisition II are urged to carefully read the entire Form S-4 and proxy statement/prospectus, when they become available, and any other relevant documents filed with the SEC, as well as any amendments or supplements to these documents, because they will contain important information about the proposed transaction. The documents filed by Thunder Bridge Acquisition II with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov or by directing a request to Thunder Bridge Acquisition II, Ltd., 9912 Georgetown Pike, Suite D203, Great Falls, Virginia, 22066, Attention: Secretary, or by calling (202) 431-0507.
Participants in the Solicitation
indie Semiconductor and Thunder Bridge Acquisition II and their respective directors and executive officers and certain other members of management and employees may be deemed “participants” in the solicitation of proxies from Thunder Bridge Acquisition II shareholders with respect to the business combination. A list of the names of those directors and executive officers and a description of their interests in Thunder Bridge Acquisition II or indie Semiconductor is set forth in the proxy statement/prospectus for the proposed business combination included in the Form S-4, which is available at www.sec.gov. Information about Thunder Bridge Acquisition II’s directors and executive officers and their ownership of Thunder Bridge Acquisition II ordinary shares is set forth in Thunder Bridge Acquisition II prospectus, dated August 9, 2019 and in the proxy statement/prospectus included in the Form S-4, as may be modified or supplemented by any Form 3 or Form 4 filed with the SEC since the date of such filings. These documents can be obtained free of charge from www.sec.gov.
Forward Looking Statements
This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about our addressable market, our intentions to merge with Thunder Bridge Acquisition II; and other statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements. In addition to factors previously disclosed in Thunder Bridge Acquisition II’s reports filed with the SEC and those identified elsewhere in this communication, the following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: inability to meet the closing conditions to the business combination, including the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreement; the inability to complete the transactions contemplated by the definitive agreement due to the failure to obtain approval of Thunder Bridge Acquisition II’s shareholders; and other risks and uncertainties indicated in the proxy statement/prospectus relating to the proposed business combination, including those under “Risk Factors” therein, and in Thunder Bridge Acquisition II’s other filings with the SEC. Indie cautions that the foregoing list of factors is not exclusive.
All information set forth herein speaks only as of the date hereof in the case of information about Thunder Bridge Acquisition II and indie or the date of such information in the case of information from persons other than Thunder Bridge Acquisition II or indie, and we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication except as required by law.
No Offer or Solicitation
This press release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities nor shall it constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
