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 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:
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
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.
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VALENS SEMICONDUCTOR LTD. |
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By: |
/s/ Gideon Ben-Zvi |
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Name: |
Gideon Ben-Zvi |
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Title: |
Chief Executive Officer |
Date: January 8, 2024
3
Exhibit 99.1
Valens Semiconductor to Present its Award-Winning
High-Performance Connectivity Solutions at CES 2024
Valens Semiconductor will showcase in-vehicle
connectivity innovations for the automotive market, including a head-to-head EMC shootout against the competition; the company will also
display its new award-winning USB3.2 extension for the videoconferencing, industrial and medical imaging markets
HOD HASHARON, Israel, January 8, 2024 - Valens
Semiconductor (NYSE: VLN), a leader in high-performance connectivity, today announced that it will showcase how its MIPI A-PHY compliant
VA7000 chipset series outperforms industry benchmarks in a variety of parameters, opening the door for innovations in ADAS and autonomous
driving. The company will display live demonstrations of the high-performance connectivity solution that will spotlight key benefits of
the chipset series, including:
| ● | Resilient & flawless EMC performance – A head-to-head EMC shootout against a competing
proprietary solution, highlighting the pressing issue of EMC as OEMs integrate systems that require higher bandwidth than ever before. |
| ● | The longest reach in automotive – Extension of an 8MP camera for 40 meters over Coax cabling,
far surpassing the current industry benchmark of only 15 meters and demonstrating the flexibility, scalability, and EMC robustness of
A-PHY. |
| ● | Low-level sensor fusion – Featuring the centralized processing of raw data from cameras,
radars, and LiDARs for unparalleled perception, enabled by A-PHY’s advanced time synchronization and fast Serial Peripheral Interface
(SPI) control capabilities. |
| ● | The vast MIPI A-PHY ecosystem – An extensive exhibit of more than twenty MIPI A-PHY-compliant products from leading automotive
Tier 1s and Tier 2s. |
Valens Semiconductor will also feature its VS6320
chipset, the first-to-market single-chip solution for professional-grade extension of USB3.2, recognized as a CES® 2024
Innovation Awards Honoree in the Embedded Technologies category for outstanding design and engineering. The VS6320 is a high-performance
and efficient long-distance single-chip USB3.2 extension solution for up to 100 meters/328 feet, addressing a critical need in the global
videoconferencing, information technology (IT), industrial and medical markets.
Valens Semiconductor’s high-performance
connectivity technology will be showcased at LVCC West Hall #W317.
“We’ve been telling the industry that
our chips are the most resilient on the market, but for the first time, at CES 2024, everyone will be able to see the comparison for themselves,”
said Gideon Ben Zvi, CEO of Valens Semiconductor. “We’re thrilled to see that the automotive ecosystem is moving past
proprietary analog-based technology to MIPI’s digital standard of the future. I, and the rest of the Valens Semiconductor team,
look forward to welcoming visitors to our booth to learn about our latest innovative solutions.”
Select quotes from our MIPI A-PHY partners
whose products will be on display at the Valens Semiconductor booth:
Kenji Onishi, Deputy Senior General Manager,
Automotive Business Division, Sony Semiconductor Solutions Corporation: “Demand for image sensors that propel connectivity and
support the development of more advanced automotive camera systems is on the rise. Furthermore, interoperability between multiple vendor
offerings is necessary for the success of any standard. As market leaders, it is highly important for Sony Semiconductor Solutions to
introduce cutting-edge technology into our image sensors, and MIPI A-PHY serializer integration delivers significant cost and performance
benefits for our automotive customers.”
Sam Qin, Vice General Manager at Shanghai G-Pulse
Electronics Technology, a wholly owned subsidiary of Intron Technology Holdings: “At G-Pulse, our mission is to foster the development
of the automotive industry in China with cutting-edge offerings. We are highly impressed by Valens Semiconductor’s VA7000 MIPI A-PHY
compliant chipsets, which address the increasing requirements for safer and automated driving. Specifically, Valens Semiconductor’s
high-performance connectivity solution will boost a new paradigm of radar and camera sensor fusion.”
Bill Pu, Co-Founder and President of Leopard
Imaging: “We recently partnered with leading sensor vendors on MIPI A-PHY camera modules, as they were impressed by the unprecedented
reach, flawless EMC immunity and noise tolerance provided. These benefits coupled with high bandwidth, are poised to open the door for
new applications and industries. We are already seeing interest from our partners for A-PHY, and we expect long-term demand to build up
for machine vision-based industries.”
Katsunori Nogami, Senior Executive Officer
and CTO at Nippon Chemi-Con: “Nippon Chemi-Con foresees growing demand for the MIPI A-PHY standard as the foundation for robust
high-resolution ADAS systems. That is why we realized the great importance in embedding Valens’ VA7000’s A-PHY compliant chipsets
in our new camera modules, towards adoption by our leading automotive customers.”
Please join Valens Semiconductor
at CES 2024 (LVCC, West Hall, #W317, January 9 –12, 2024) to learn more about our latest innovations. Contact us here to schedule
a meeting.
About Valens Semiconductor
Valens Semiconductor 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/.
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-looking 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 effects of health epidemics, such
as the recent global COVID-19 pandemic; 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
March 1, 2023 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.
Valens Semiconductor Media Contact:
Yoni Dayan
Head of Communications
Valens Semiconductor
Ltd.
Yoni.dayan@valens.com
Valens Semiconductor Investor Contacts:
Daphna Golden
Vice President Investor
Relations
Valens Semiconductor
Ltd.
investors@valens.com
Moira Conlon
Financial Profiles, Inc.
US: +1 310-622-8220
Valens@finprofiles.com
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