12:44 PM EDT, 05/20/2025 (MT Newswires) -- Indie Semiconductor ( INDI ) shares were down over 4% in recent Tuesday trading after it disclosed entering a non-binding agreement with China-based United Faith Auto-Engineering to sell its holdings in Wuxi indie Microelectronics Technology.

indie holds 34.38% of equity interest in China-based Wuxi indie Microelectronics Technology via its subsidiary Ay Dee Kay, according to a regulatory filing.

Financial details of the transaction weren't disclosed.

The potential deal completion is subject to due diligence and regulatory approvals, the company said.

United Faith disclosed in a May 19 filing it executed non-binding agreements with Wuxi stockholders to acquire all outstanding shares of Wuxi.

Price: 2.50, Change: -0.14, Percent Change: -5.30