Thunder Bridge Acquisition II, Ltd.

Thunder Bridge Acquisition II, Ltd. (NASDAQ: THBR) is a blank cheque company which was formed for the purpose of merger and acquisition with one or more business.

Key Highlights:

• On June 10, 2021, the group completed the acquisition of previously announced company indie Semiconductor, which is an autotech innovative company, which provides semiconductors and software platforms. The target audience is both electric and autonomous vehicles.
• The above acquisition was announced in December 2020, with an implied equity value of USD 1.4 billion, consisting of USD 10 per PIPE (Private Investment in Public Equity) subscription price.
• The new entity traded at the NASDAQ index under the new ricker name ‘INDI’ from June 11, 2021, onwards.
• Earlier, Thunder Bridge Acquisition II, Ltd. completed its initial public offering in August 2019 with total funding of USD 345 million.

Stock Recommendation:

Considering the merger with indie Semiconductor, the group formed a new entity and would operate across the new generation automotive semiconductor and would trade with a separate ticker name. Therefore, the position on 'THBR' is closed at USD 10.87 per share while 'THBRU' traded at USD 12 (Stock + Warrant) as on the last trading day (June 10, 2021) as per the secondary sources.

GigCapital Global

GigCapital Global (NYSE: GIX) is a Private-to-Public Equity (PPE) investment group founded in 2017, by Dr. Avi Katz. It offers financial, operational and executive mentoring to U.S. and global private, and non-U.S. public companies.

Key Highlights

• Recently, the Company announced the completion of its previously announced business combinations with UpHealth Holdings, Inc. (“UpHealth Holdings”) and Cloudbreak Health, LLC (“Cloudbreak Health”). 
• The combined company has changed its name to UpHealth, Inc., and its common stock and warrants begin trading on the New York Stock Exchange under the new symbols “UPH” and “UPH.WS,” respectively, from June 10, 2021.
• Each GigCapital2 unit has separated into its components consisting of one share of common stock, one warrant, and a right for one-twentieth of a share of stock that were issued at the closing.
• As a result, both the GigCapital2 units and the GigCapital2 rights would no longer trade as separate securities.

Conclusion

Since the stock of GIX got merged with UpHealth Holdings, Inc. and Cloudbreak Health, LLC and started trading on NYSE with a new symbol “UPH” and GIX is no longer trading on the exchange, we are closing our positions in “GIX” at the closing price of USD 9.38 on June 9, 2021, as per the secondary sources.

Disclaimer

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