indie Semiconductor, Inc. (Nasdaq: INDI) agreed to acquire TeraXion Inc., from existing stockholders of TeraXion for approximately $160 million on August 27, 2021. Based on indie's closing stock price as of August 30, 2021, indie will pay approximately US$158.5 million for TeraXion, comprised of US$79.3 million in cash plus 7.9 million indie Class A common shares. The Purchase Price is subject to working capital and other adjustments. The Purchase Price also includes the option consideration payable to the holders of the then outstanding options to purchase TeraXion common stock. Ghislain Lafrance, TeraXion's president and Chief Executive Officer plans to join indie's senior management team and continue to lead TeraXion's operations in Quebec. The transaction has been approved by the boards of Directors of both indie and TeraXion. The transaction is subject to regulatory approval and customary closing conditions. Excluding any non-recurring acquisition-related charges and amortization of intangibles, indie expects the acquisition to be immediately accretive and will provide more financial details during its next earnings conference call. The transaction is expected to close in the fourth quarter of 2021. Pierre Déry of Norton Rose Fulbright Canada LLP and Mark Peterson of O'Melveny & Myers LLP acted as legal advisor for indie Semiconductor, Inc. in the transaction.

indie Semiconductor, Inc. (Nasdaq: INDI) completed the acquisition of TeraXion Inc., from existing stockholders of TeraXion for approximately $140 million on October 12, 2021. Total consideration paid for the acquisition consisted of approximately $75.3 million in cash (including debt paid at closing and net of cash acquired) and issuance of 5,805,144 shares of indie Class A common stock. indie Semiconductor acquired $5.6 million of cash.