Achronix Semiconductor Corporation, a leader in high-performance
field-programmable gate arrays (FPGAs) and embedded FPGA (eFPGA)
IP, today announced that President and CEO, Robert Blake, and CFO,
Mark Voll, will participate in the Oppenheimer 6th Annual Emerging
Growth Conference on Wednesday, May 12, 2021, which will be held as
a virtual event. Management will be available to meet with
investors and analysts throughout the day.
Interested parties who would like to schedule a meeting with
Achronix should contact their Oppenheimer representative.
In January 2021, Achronix announced its entry into a definitive
business combination agreement with ACE Convergence Acquisition
Corp. (Nasdaq: ACEV). Upon the closing of the business combination,
which is expected in the second quarter of 2021, the combined
company will be named Achronix Semiconductor Corporation and will
continue to be listed on the Nasdaq under the new ticker symbol,
“ACHX.”
About Achronix Semiconductor Corporation
Achronix Semiconductor Corporation is a fabless semiconductor
corporation based in Santa Clara, California, offering high-end
FPGA-based data acceleration solutions, designed to address
high-performance, compute-intensive and real-time processing
applications. Achronix is the only supplier to have both
high-performance and high-density standalone FPGAs and licensed
eFPGA IP solutions. Achronix Speedster®7t FPGA and SpeedcoreTM
eFPGA IP offerings are further enhanced by ready-to-use
VectorPathTM accelerator cards targeting AI, machine learning,
networking and data center applications. All Achronix products are
fully supported by the Achronix Tool Suite which enables customers
to quickly develop their own custom applications. Achronix has a
global footprint, with sales and design teams across the U.S.,
Europe and Asia. For more information, please visit
www.achronix.com.
About ACE Convergence Acquisition Corp.
ACE Convergence Acquisition Corp. is a $230 million special
purpose acquisition company whose business mandate is to identify
and acquire an emerging leader in the IT infrastructure
software/systems and system-on-a-chip markets that is
well-positioned to capitalize on the changing landscape of data
acceleration being driven by developments in AI, Cloud, and 5G
technologies. ACE is comprised of a team of sector specialists with
a solid track record of scaling complex technology organizations
and making transformative value-creation decisions. For more
information, please visit http://acev.io/home/default.aspx.
About ACE Equity Partners
ACE Equity Partners is an Asian-nexus mid-market cross-border
private equity firm with a single-minded focus on the convergence
of digital and industrial technologies. For more information,
please visit: http://acelp.co.kr.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws. These
forward-looking statements generally are identified by the words
“intend,” “expect,” “estimate,” “project,” “potential,” “future,”
“may,” “will,” “would,” “will be,” and similar expressions.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. All statements, other than statements of present
or historical fact included in this press release, regarding ACE’s
proposed acquisition of Achronix, ACE’s ability to consummate the
proposed transaction, the benefits of the proposed transaction and
the combined company’s future financial performance, as well as the
combined company’s strategy, future operations, estimated financial
position, estimated revenue growth, prospects and pipeline
expectations, estimated market growth, estimated backlog, plans and
objectives of management are forward-looking statements. Many
factors could cause actual future events to differ materially from
the forward-looking statements in this press release, including but
not limited to: the risk that the proposed transaction may not be
completed in a timely manner or at all, which may adversely affect
the price of ACE’s securities; the risk that the proposed
transaction may not be completed by ACE’s business combination
deadline and the potential failure to obtain an extension of the
business combination deadline if sought by ACE; the failure to
satisfy the conditions to the consummation of the proposed
transaction, including the adoption of the Merger Agreement by the
shareholders of ACE or the stockholders of Achronix and the receipt
of certain governmental and regulatory approvals; the lack of a
third party valuation in determining whether or not to pursue the
proposed transaction; the inability to complete the concurrent PIPE
financing; the occurrence of any event, change or other
circumstance that could give rise to the termination of the Merger
Agreement; the effect of the announcement or pendency of the
transaction with ACE on Achronix’s business relationships,
operating results, and business generally; risks that the proposed
transaction disrupts current plans and operations of Achronix; the
outcome of any legal proceedings that may be instituted against
Achronix or against ACE related to the Merger Agreement or the
proposed transaction; the ability to maintain the listing of ACE’s
securities on a national securities exchange; risks related to new
accounting pronouncements or changes in accounting guidance;
changes in domestic and foreign business, market, financial,
political, and legal conditions and changes in the combined capital
structure; the ability to implement business plans, forecasts, and
other expectations after the completion of the proposed
transaction, and identify and realize additional opportunities;
failure to realize the anticipated benefits of the proposed
transaction; risks relating to the uncertainty of the projected
financial information with respect to Achronix; risks related to
the rollout of Achronix’s business and the timing of expected
business milestones; the effects of competition on Achronix’s
business; the effects of the cyclical nature of the semiconductor
industry on Achronix’s business; risks related to Achronix’s
customer concentration; the risks to Achronix’s business if
internal processes and information technology systems are not
properly maintained; risks associated with Achronix’s operational
dependence on independent contractors and third parties; risks
associated with Achronix’s reliance on certain suppliers for, among
other things, silicon wafers; risks and uncertainties related to
the ongoing COVID-19 pandemic; risks and uncertainties related to
Achronix’s international operations, including possible
restrictions on cross-border investments which could harm
Achronix’s financial position; and risks associated with Achronix’s
ability to develop new products and adapt to new markets. The
foregoing list of factors is not exhaustive. You should carefully
consider the foregoing factors and the other risks and
uncertainties described in the “Risk Factors” section of ACE’s
registration statement on Form S-4 discussed above and other
documents filed, filed with the SEC on April 9, 2021, as may be
amended from time to time with the SEC and available on EDGAR at
www.sec.gov. These filings identify and address other important
risks and uncertainties that could cause actual events and results
to differ materially from those contained in the forward-looking
statements. There may be additional risks that Achronix does not
presently know, or that Achronix currently believe are immaterial,
that could also cause actual results to differ from those contained
in the forward-looking statements. Forward-looking statements speak
only as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements as predictions of
future events, and Achronix assumes no obligation and do not intend
to update or revise these forward-looking statements, whether as a
result of new information, future events, or otherwise, except as
may be required by applicable law.
Important Information for Investors and Stockholders
In connection with the proposed merger transaction, ACE has
filed a registration statement on Form S-4 (the “Registration
Statement”) with the SEC, which includes a preliminary proxy
statement to be distributed to holders of Ace’s common stock in
connection with ACE’s solicitation of proxies for the vote by ACE’s
stockholders with respect to the proposed transaction and other
matters as described in the Registration Statement, as well as the
prospectus relating to the offer of securities to be issued to
Achronix’s stockholders in connection with the proposed
transaction. After the Registration Statement has been filed and
declared effective, ACE will mail a definitive proxy statement,
when available, to its stockholders. Investors and security holders
and other interested parties are urged to read the proxy
statement/prospectus, any amendments thereto and any other
documents filed with the SEC carefully and in their entirety when
they become available because they will contain important
information about ACE, Achronix and the proposed transaction.
Investors and security holders may obtain free copies of the
preliminary proxy statement/prospectus and definitive proxy
statement/prospectus (when available) and other documents filed
with the SEC by ACE through the website maintained by the SEC at
http://www.sec.gov, or by directing a request to: ACE Corporation,
1013 Centre Road, Suite 403S, Wilmington, DE. The information
contained on, or that may be accessed through, the websites
referenced in this press release is not incorporated by reference
into, and is not a part of, this press release.
Participants in the Solicitation
ACE and its directors and officers may be deemed participants in
the solicitation of proxies of ACE’s shareholders in connection
with the proposed business combination. Security holders may obtain
more detailed information regarding the names, affiliations and
interests of certain of ACE’s executive officers and directors in
the solicitation by reading ACE’s final prospectus filed with the
SEC on July 28, 2020, the registration statement on Form S-4, proxy
statement/prospectus and other relevant materials filed with the
SEC in connection with the business combination when they become
available. Information concerning the interests of ACE’s
participants in the solicitation, which may, in some cases, be
different than those of their stockholders generally, will be set
forth in the registration statement, proxy statement relating to
the business combination when it becomes available.
Non-Solicitation
This press release is not a proxy statement or solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the potential transaction and shall not constitute an
offer to sell or a solicitation of an offer to buy the securities
of ACE, the combined company or Achronix, nor shall there be any
sale of any such securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such
state or jurisdiction. No offer of securities shall be made except
by means of a prospectus meeting the requirements of the Securities
Act of 1933, as amended.
Trademarks
Achronix and Speedster are registered trademarks, and Speedcore
and Speedchip are trademarks of Achronix Semiconductor Corporation.
All other brands, product names and marks are the property of their
respective owners.
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version on businesswire.com: https://www.businesswire.com/news/home/20210506006233/en/
For Achronix: IR@Achronix.com Media@Achronix.com ACE Convergence
Acquisition Corp.: info@acev.io
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