EBN acts for Arbe Robotics in SPAC merger at USD 722 million valuation
The Israeli 4D image radar developer is to merge with Houston-based blank check company Industrial Tech Acquisitions.
Erdinast, Ben Nathan, Toledano & Co. (EBN) has acted for Israeli 4D Imaging radar developer Arbe Robotics in its merger with Houston-based Industrial Tech Acquisitions (ITAC) (Nasdaq: ITAC), a blank check company or special purpose acquisition company (SPAC).
Following the merger, Arbe Robotics will trade on Nasdaq under the ‘ARBE’ ticker and have a valuation of USD 722 million.
The EBN team was led by partners, Shay Dayan and Lior Etgar, with attorneys, Bar Fenster and Shmaryahu Green. DLA also advised Arbe Robotics.
Tel Aviv-based Arbe Robotics was founded in 2015 by CEO Kobi Marenko, CTO Dr. Noam Arkind and COO Oz Fixman, and has raised USD 55 million to date.
Arbe’s 4D imaging radar chipset solution allows high-resolution sensing for safe driver assist systems and autonomous vehicles. Arbe’s 4D Imaging Radar separates, tracks, and identifies objects in 2K resolution in both azimuth and elevation, which can alert autopilot, emergency braking or steering features at the right moment.
