0001213900-24-036837.txt : 20240429 0001213900-24-036837.hdr.sgml : 20240429 20240429080940 ACCESSION NUMBER: 0001213900-24-036837 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20240429 FILED AS OF DATE: 20240429 DATE AS OF CHANGE: 20240429 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Valens Semiconductor Ltd. CENTRAL INDEX KEY: 0001863006 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 000000000 STATE OF INCORPORATION: L3 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-40842 FILM NUMBER: 24886688 BUSINESS ADDRESS: STREET 1: 8 HANAGAR ST. POB 7152 CITY: HOD HASHARON, 4501309 STATE: L3 ZIP: 00000 BUSINESS PHONE: 972-9-762-6900 MAIL ADDRESS: STREET 1: 8 HANAGAR ST. POB 7152 CITY: HOD HASHARON, 4501309 STATE: L3 ZIP: 00000 6-K 1 ea0204835-6k_valens.htm REPORT OF FOREIGN PRIVATE ISSUER

 

 

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 April 2024

 

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

 

 

 

 

 

 

EXPLANATORY NOTE

 

The information in the attached Exhibit 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 April 29, 2024

 

1

 

 

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/ Gideon Ben-Zvi
    Name:  Gideon Ben-Zvi
    Title: Chief Executive Officer

 

Date: April 29, 2024

 

 

2

 

 

EX-99.1 2 ea020483501ex99-1_valens.htm PRESS RELEASE DATED APRIL 29, 2024

Exhibit 99.1

 

 

 

Valens Semiconductor Partners with Black Sesame Technologies to
Add MIPI A-PHY Connectivity to Black Sesame’s Innovative ADAS and
Cross-Domain Compute Platforms

 

HOD HASHARON, Israel & China. April 29, 2024 – Today, Valens Semiconductor (NYSE:VLN), a leader in high-performance connectivity, and Black Sesame Technologies, a leading intelligent vehicle SoC and solution provider, announced that they have worked together to enable the integration of A-PHY connectivity into the Huashan-2 A1000 autonomous driving computing platform and are in the process of adding A-PHY to the Wudang C1200 intelligent vehicle cross-domain computing platform. Leveraging the VA7000 MIPI A-PHY compliant chipsets by Valens, Black Sesame Technologies will offer and support the A-PHY connectivity standard for its automotive OEM and Tier1 customers.

 

The Huashan-2 A1000 is an automotive-grade SoC for L2/L2+ ADAS solutions, supported by a comprehensive and mature mass-production ecosystem. In mass production, the A1000 is featured in vehicles from China’s foremost automakers, including FAW Group, Dongfeng Motor Corporation, Geely Holding Group and JAC Group. The Wudang C1200 Series offers high MCU integrated computing power, allowing customers to integrate a broader array of intelligent functions into a single vehicle. With the Valens VA7000 chipsets, Black Sesame Technologies can add support for increased bandwidth and enhanced safety with unprecedented EMC immunity, as well as low-cost system design.

 

MIPI A-PHY is the first automotive industry standard developed for in-vehicle high-speed sensor connectivity. Since its release, it has attracted a growing ecosystem of companies designing products based on the technology. Valens Semiconductor, a key contributor to the standard, was the first on the market to offer A-PHY-compliant chipsets with its VA7000 chipsets.

 

“We are delighted to enable Black Sesame Technologies to capitalize on the benefits of MIPI A-PHY connectivity in their cornerstone Huashan Series A1000 and Wudang C1200 Series platforms,” Gideon Kedem, SVP and Head of Automotive Business at Valens Semiconductor, “This collaboration demonstrates the growing adoption of A-PHY as the standard for in-vehicle high-speed video transmission, and the value that our VA7000 chipsets bring to the automotive market. China has often been quick to adopt new and cutting-edge technologies, which is why it’s not surprising to see the impressive growth of MIPI A-PHY in this important market.”

 

“We decided to move forward with this implementation because of the significant interest for MIPI A-PHY connectivity, both within China and globally,” said Weihong Liu, co-founder and President of Black Sesame Technologies. “The superiority of the MIPI A-PHY standard brings a series of benefits to our OEM customers, and I believe that this new support for A-PHY will draw significant interest from around the ecosystem.”

 

The Huashan-2 A1000 autonomous driving computing chip with A-PHY connectivity will be showcased at Black Sesame Technologies’ booth (E113) at the Beijing Auto Show from April 25 to May 5.

 

About Valens Semiconductor

 

Valens Semiconductor (NYSE:VLN) is a leader in high-performance connectivity, enabling customers to transform the digital experiences of people worldwide. Valens’ chipsets are integrated into countless devices from leading customers, powering state-of-the-art audio-video installations, next-generation videoconferencing, and enabling the evolution of ADAS and autonomous driving. Pushing the boundaries of connectivity, Valens sets the standard everywhere it operates, and its technology forms the basis for the leading industry standards such as HDBaseT® and MIPI A-PHY. For more information, visit https://www.valens.com/.

 

 

 

 

About Black Sesame Technologies

 

Black Sesame Technologies is a leading automotive-grade computing SoC and Soc-based intelligent vehicle solution provider. The company started with the Huashan Series high-computing power SoCs for autonomous driving and recently introduced the Wudang Series cross-domain SoCs to address more diverse and sophisticated demands for advanced functionalities of intelligent vehicles. Black Sesame Technologies’ proprietary automotive-grade products and technologies empower intelligent vehicles with mission-critical capabilities, such as autonomous driving, smart cockpit, advanced imaging and interconnection. The company offers full-stack autonomous driving capabilities to meet broad customer needs through SoCs and SoC-based solutions, powered by in-house developed IP cores, algorithms and support software.

 

Forward-Looking Statements

 

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding our anticipated future results, including financial results, currency exchange rates, and contract wins, and future economic and market conditions. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Valens Semiconductor’s (“Valens”) management and are not predictions of actual performance. These forward-looing statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Valens Semiconductor. These forward-looking statements are subject to a number of risks and uncertainties, including the cyclicality of the semiconductor industry; the effect of inflation and a rising interest rate environment on our customers and industry; the ability of our customers to absorb inventory; the impact of the global pandemic caused by COVID-19 on our customers’ budgets and on economic conditions generally, as well as the length, severity of and pace of recovery following the pandemic; competition in the semiconductor industry, and the failure to introduce new technologies and products in a timely manner to compete successfully against competitors; if Valens fails to adjust its supply chain volume due to changing market conditions or fails to estimate its customers’ demand; disruptions in relationships with any one of Valens’ key customers; any difficulty selling Valens’ products if customers do not design its products into their product offerings; Valens’ dependence on winning selection processes; even if Valens succeeds in winning selection processes for its products, Valens may not generate timely or sufficient net sales or margins from those wins; sustained yield problems or other delays in the manufacturing process of products; our ability to effectively manage, invest in, grow, and retain our sales force, research and development capabilities, marketing team and other key personnel; our ability to timely adjust product prices to customers following price increase by the supply chain; our ability to adjust our inventory level due to reduction in demand due to inventory buffers accrued by customers; our expectations regarding the outcome of any future litigation in which we are named as a party; our ability to adequately protect and defend our intellectual property and other proprietary rights; the market price and trading volume of the Valens ordinary shares may be volatile and could decline significantly; political, economic, governmental and tax consequences associated with our incorporation and location in Israel; and those factors discussed in Valens’ Form 20-F filed with the SEC on February 28, 2024 under the heading “Risk Factors,” and other documents of Valens filed, or to be filed, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Valens does not presently know or that Valens currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Valens’ expectations, plans or forecasts of future events and views as of the date of this press release. Valens anticipates that subsequent events and developments may cause Valens’ assessments to change. However, while Valens may elect to update these forward-looking statements at some point in the future, Valens specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Valens’ assessment as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

 

Press Contacts

 

Yoni Dayan,

Head of Communications

Valens Semiconductor Ltd.

Yoni.dayan@valens.com

 

Pat Burek

Senior Vice President

Financial Profiles, Inc.

pburek@finprofiles.com

 

Investor Contacts

 

Lisa Fortuna
Senior Vice President
Financial Profiles, Inc.

lfortuna@finprofiles.com

 

SOURCE Valens Semiconductor

 

 

 

 

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