Valens Semiconductor Announces Effectiveness of Registration Statement for Proposed Business Combination with PTK Acquisition Corp.

Valens Semiconductor, Ltd. (“Valens”), a premier provider of high-speed connectivity solutions for the audio-video and automotive markets, announced today that the registration statement on Form F-4 (as amended, the “Registration Statement”) related to the previously announced business combination (the “Business Combination”) with PTK Acquisition Corp.

(NYSE: PTK) (“PTK”), a special purpose acquisition company, has been declared effective by the Securities and Exchange Commission (“SEC”). Subsequent to the effectiveness of the Registration Statement, PTK will commence mailing the definitive proxy statements /prospectus relating to the Special Meeting of PTK’s Shareholders to be held on September 28, 2021, in connection with the Business Combination.

The proxy statement/prospectus is being mailed to PTK’s shareholders of record as of the close of business on September 7, 2021 (the “Record Date”). Notice of the special meeting, the definitive proxy statement/prospectus and other relevant documents will be mailed on or about September 8, 2021, to shareholders of record as of the Record Date.