March 10, 2022
SatixFy Communications Ltd. (SatixFy), a leader in next-generation satellite communication systems based on in-house developed chipsets, and Endurance Acquisition Corp., a publicly traded special purpose acquisition company formed by an affiliate of Antarctica Capital, have announced a definitive merger agreement that will result in SatixFy becoming a publicly listed company. Israel-based SatixFy is a vertically integrated fabless semiconductor chip company providing products based on in-house developed chips across the entire satellite communications value chain, with customers that include significant players in the satellite telecom industry. The SPAC transaction implies a pro forma implied equity value of the combined company at approximately US$813 million.
Latham & Watkins LLP represented Francisco Partners on a financing for SatixFy in connection with the SPAC transaction. The Latham transactional team was led by Bay Area partner Haim Zaltzman, Los Angeles/San Francisco partner Elizabeth Oh, London partner Karan Chopra, and Orange County partner Drew Capurro, with Bay Area associates Trevor Church and Anna Tomlinson and London associates Catriona Severns, Chen Yang Sia, and Annabel Cawood. Advice was also provided on tax matters by Bay Area partner Katharine Moir and London partner Karl Mah, with Bay Area associate Derek Gumm and London associate Edward Moberly; on certain derivative matters by New York partner Reza Mojtabaee-Zamani; and on regulatory matters by Century City partner Julie Crisp.