Texas Ventures has been an active participant and multiple issuer of Special Purpose Acquisition Companies (“SPACs”). SPACs have been around for many years but have only recently become more visible in the press and broader marketplace. When used appropriately, SPACs offer an opportunity to pursue a public equity strategy and gain liquidity for various stakeholders. Public sentiment ebbs and flows for SPACs, but generally speaking, SPACs allow for faster and more cost-effective access to the public markets. In addition, SPACs can be creatively structured to meet the size and scope of the business opportunity. This tailor-made approach can be beneficial for constituents and shareholders.
Industrial Tech Acquisitions II
ITAQ is publicly listed on NASDAQ
Industrial Tech Acquisitions II, Inc. is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, which we refer to as our initial business combination. At the IPO, ITAQ had $175 million in trust. While we may pursue an initial business combination target in any business, industry or geographical location, we intend to focus our search on targets operating in the industrial focused technology areas including software, mobile and Internet of Things (“IoT”) applications, digital and energy transformation, cloud communications and high bandwidth services, including LTE, remote sensing and 5G communications.
Industrial Tech Acquisitions Merges With Arbe
ITAC closed its business combination with Arbe Robotics, Ltd. (NASDAQ: ARBE )
Industrial Tech Acquisitions, Inc. (ITAC), was a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. ITAC is sponsored by Texas Ventures, and our approach is to identify emerging trends and opportunities prior to recognition by the broader marketplace, and to take a proactive approach in working with entrepreneurs and managers who have the determination to build world-class companies.
Arbe Robotics, Ltd. was identified as the target for de-SPAC and the business combination was completed on Thursday, October 7, 2021. The combined company retained the Arbe Robotics name and its ordinary shares and warrants commenced trading on Nasdaq on October 8, 2021 under the ticker symbols "ARBE" and "ARBEW," respectively.