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Sivers Semiconductors Halts Plans to Spin off Photonics Business

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KISTA, Sweden, Nov. 12, 2024 — The board of Sivers Semiconductors is pausing its discussions related to the proposed business combination between subsidiary Sivers Photonics and special purpose acquisition company (SPAC) ByNordic. “While we agree with ByNordic's thesis that our photonics business is highly undervalued in Sivers' current market capitalization with its critical positioning in the upcoming AI datacenters, the capital markets for successfully executing SPAC mergers remain challenging,” said Bami Bastani, chairman of the board of directors of Sivers Semiconductors AB. “Consequently, we...Read full article

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    Published: November 2024
    BusinessmergercancelplanSPACspecial purpose acquisition companyLaserssivers semiconductorsSivers PhotonicsEuropeAmericas

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