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Arbe Robotics and Industrial Tech Acquisitions, Inc. (ITAC) announced a special meeting for ITAC stockholders on October 5, 2021, regarding their proposed business combination. Stockholders as of August 24, 2021, can participate in the vote, which is crucial for the merger to proceed. Upon approval, ITAC shareholders will receive one Arbe share for each ITAC share held. Following the merger, Arbe shares will be traded under the symbol ARBE. Both companies emphasize the merger's potential to drive innovation and growth in the automotive radar market, projected to reach $11 billion by 2025.
Arbe Robotics announced that CEO Kobi Marenko will present at the 2021 J.P. Morgan Automotive Conference on August 11, 2021, at 8:55 AM EST. The presentation aims to highlight Arbe's advancements in 4D Imaging Radar Solutions, essential for driver-assist systems and autonomous driving. Arbe's radar technology is poised for significant growth, targeting a market estimated at $11 billion by 2025. Additionally, Arbe is undergoing a merger with Industrial Tech Acquisitions, Inc. (ITAC), which is expected to enhance its market position.
Houston, Texas, June 04, 2021 - Industrial Tech Acquisitions (NASDAQ: ITAC) announced it received a notice from Nasdaq due to the failure to file its Quarterly Report on Form 10-Q for Q1 2021 in a timely manner. The company claims to be compliant after filing the report on June 4, 2021. The delay was attributed to the need for adjustments in accounting for outstanding warrants as liabilities. Despite this filing, there is no assurance of maintaining compliance with Nasdaq's listing requirements.
Arbe, a leader in 4D Imaging Radar Solutions, has launched its 2K resolution radar on the NVIDIA DRIVE platform, aiming to boost autonomous vehicle development. This integration allows OEMs and Tier 1 suppliers to access advanced radar data for safety applications and sensor fusion. The new technology, which can identify objects in adverse conditions and reduce false alarms, signifies Arbe's commitment to enhancing vehicle safety. Additionally, Arbe is preparing for a public merger with Industrial Tech Acquisitions, Inc. (NASDAQ: ITAC), projecting to reshape the automotive radar market with an estimated addressable market of $11 billion by 2025.
Industrial Tech Acquisitions, Inc. (NASDAQ: ITACU) announced that starting October 30, 2020, holders of units from its initial public offering can trade the company's Class A common stock and warrants separately. Class A common stock will trade under the symbol ITAC, while the warrants will trade under ITACW. Units that remain intact will continue to trade under ITACU. The company focuses on merging with businesses in the industrial technology sector, particularly in North America, covering areas such as IoT applications and 5G communications.
Industrial Tech Acquisitions, Inc. (NASDAQ: ITACU) announced the closing of its initial public offering (IPO) of 7,500,000 units at $10.00 per unit. The IPO units began trading on the NASDAQ on September 9, 2020, and each unit comprises one share of Class A common stock and a warrant for one share at an exercise price of $11.50. The offering was managed by Maxim Group LLC, with a registration statement effective as of September 8, 2020. Industrial Tech Acquisitions aims to engage in mergers and acquisitions focused on North American industrial technology sectors.
Industrial Tech Acquisitions, Inc. (NASDAQ: ITACU) has announced the pricing of its initial public offering (IPO) of 7,500,000 units at $10.00 each. The units will be listed on NASDAQ under the symbol ITACU starting September 9, 2020, each comprising one share of Class A common stock and one warrant. The company has granted underwriters a 45-day option for 1,125,000 additional units. The SEC declared the registration statement effective on September 8, 2020, with the IPO aimed at raising capital for potential mergers and acquisitions in industrial technology sectors.
