Achronix Is in Talks to Merge With Blank-Check Firm ACE

Achronix Is in Talks to Merge With Blank-Check Firm ACE
Bloomberg
1/6/2021
© Bloomberg
(Bloomberg) -- Achronix Semiconductor Corp. is in talks to go public through a merger with the blank-check company ACE Convergence Acquisition Corp., according to people with knowledge of the matter.
ACE, a special purpose acquisition company, or SPAC, has begun discussions with investors about raising new equity to support the transaction, the people said. The deal is slated to give the combined entity an equity valuation of about $2 billion, said the people, who asked not to be identified as the information is private.
The companies could announce an agreement as soon as this month, the people said. Terms of the deal could change and talks could still be delayed or even fall apart, the people said.

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