UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN
PRIVATE ISSUER PURSUANT TO RULE 13a-16
OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of January 2022
Commission File Number: 001-40842
VALENS SEMICONDUCTOR LTD.
(Exact name of registrant as specified in its charter)
8 Hanagar St. POB 7152
Hod Hasharon 4501309
Israel
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
| Form 20-F | ☒ | Form 40-F | ☐ |
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
| Yes | ☐ | No | ☒ |
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
| Yes | ☐ | No | ☒ | |
EXPLANATORY NOTE
The information in the attached Exhibits 99.1 is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise set forth herein or as shall be expressly set forth by specific reference in such a filing.
TABLE OF CONTENTS
| ITEM | |
| 99.1 | Press Release dated January 13, 2022 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| VALENS SEMICONDUCTOR LTD. | |||
| By: | /s/ Dror Heldenberg | ||
| Name: | Dror Heldenberg | ||
| Title: | Chief Financial Officer | ||
Date: January 14, 2022
Exhibit 99.1
Valens Semiconductor First-in-Industry to Ship Engineering Samples of MIPI A-PHY Standard Chipsets to Leading Automotive OEMs and Tier 1s
HOD HASHARON, Israel, January 13, 2022 - Valens Semiconductor (NYSE: VLN), a premier provider of high-speed connectivity solutions for the automotive and audio-video markets, today announced that it is shipping engineering samples of the VA7000 chipset family to more than 25 automotive customers and partners, including four leading automotive OEMs and more than 10 Tier-1 prospective customers, for evaluation and integration into their platforms. The Valens VA7000 chipset family is the first on the market to implement the MIPI A-PHYSM standard for in-vehicle sensor connectivity.
Since the release of the A-PHY standard for high speed in-vehicle video connectivity by the MIPI Alliance in September 2020, it has gained significant momentum within the industry. In 2021, the IEEE standards association adopted A-PHY in full as one of its own standards, and major automotive companies have been working to integrate it into their next-generation solutions.
The unprecedented performance of the VA7000 chipsets will enable automotive OEMs to enhance their Advanced Driver-Assistance Systems (ADAS) capabilities and to take a step towards the software-defined vehicles of the future by providing:
| · | High bandwidth: 8Gbps per link (deserializer aggregating 32Gbps), with a roadmap to 16Gbps per link |
| · | Link distance: Up to 15 meters (~50 feet), enabling unprecedented architectural flexibility |
| · | Industry-lowest error rate: Packet error rate of 10-19, orders of magnitude lower than the competition |
| · | Reduced total system cost: Ability to operate over low-cost unshielded cables and connectors |
For the first time ever, the VA7000 chipsets will enable the industry to remove costly and proprietary bridge CSI-2 extension solutions widely used today, in favor of a Digital Signal Processing (DSP)-based standardized protocol, which will simplify the connectivity infrastructure in the car.
“The release of the first products implementing A-PHY is an important milestone – not just for Valens, but for the automotive industry as a whole,” said Gideon Kedem, SVP and Head of Automotive at Valens Semiconductor. “As more and more automotive players adopt the standard and spec it into their product roadmaps, the VA7000 is poised to be the keystone chipset of in-vehicle sensor connectivity for years to come.”
Valens will showcase the capabilities of the VA7000 chipset family in a webinar on February 2, 2022 (10:00 AM EST | 4:00 PM CET). The webinar will feature video demonstrations, in cooperation with industry-leading players, including connectivity of a remote 8 Mega Pixel camera as well as a surround view system over Unshielded Twisted Pair (UTP) cabling.
Register here.
About Valens Semiconductor Ltd.
Valens (NYSE: VLN) is a leading provider of semiconductor products, pushing the boundaries of connectivity by enabling long-reach, high-speed video and data transmission for the automotive and audio-video industries. Valens’ Emmy® award-winning HDBaseT technology is the leading standard in the professional AV market with tens of millions of Valens’ chipsets integrated into thousands of HDBaseT-enabled products. Valens Automotive is a key enabler of the evolution of autonomous driving, providing chipsets that are on the road in premium vehicles around the world. The underlying technology has been selected to become the basis for the new international standard for automotive connectivity. For more, visit https://www.valens.com/.
Forward-Looking Statements
Valens may, in this communication, make certain statements that are not historical facts and relate to analysis or other information which are based on forecasts or future or results. Examples of such forward-looking statements include, but are not limited to, statements regarding future prospects, product development and business strategies. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements but are not the exclusive means for identifying such statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are risks that the predictions, forecasts, projections and other forward-looking statements will not be achieved. You should understand that a number of factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements, including the risks set forth under “Risk Factors” in our Registration Statement on Form F-1 and our other SEC filings. Valens cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Valens does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
Media Contact:
Yoni Dayan
Head of Communications
Valens Semiconductor Ltd.
Yoni.dayan@valens.com
Investor Contacts:
Daphna Golden
Vice President Investor Relations
Valens Semiconductor Ltd.
investors@valens.com
Matthew Keating, CFA
Financial Profiles, Inc.
US: +1 310-622-8230
ValensIR@finprofiles.com
SOURCE Valens Semiconductor