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Arbe Robotics Ltd. and Industrial Tech Acquisitions, Inc. (ITAC) submitted a draft registration statement for their proposed business combination and amended the agreement, extending the outside deadline to October 31, 2021.
Arbe Robotics, a provider of 4D Imaging Radar solutions, entered a definitive business combination with SPAC Industrial Tech Acquisitions, with a $100 million PIPE, valuing the combined company at $572 million enterprise value.
Arbe Robotics, a provider of 4D imaging radar solutions, will merge with SPAC Industrial Tech Acquisitions to list on Nasdaq. The deal includes up to $177 million in gross proceeds, including a $100 million PIPE.