Indie Semiconductor rises on TeraXion buy

indie Semiconductor

01/09/2021 16:04

** Shares of indie Semiconductor  INDI.O  up 3.6% at $10.5 in early trading
    ** Co to buy TeraXion Inc, a maker of innovative photonic components, it
said on Tuesday  urn:newsml:reuters.com:*:nBwb9TjfFa
    ** Indie will pay about $159 mln for TeraXion, comprising of $80 mln in cash
and a fixed number of eight million indie Class A common shares
    ** The transaction is expected to close in the fourth quarter of 2021
    ** Stock down ~21% YTD

 (Reporting by Sahil Shaw in Bengaluru)
 ((sahil.shaw@thomsonreuters.com))