Navitas Semiconductor Corporation
Navitas Semiconductor Issues Shares in Satisfaction of Business Combination Agreement
Summary
On June 4, 2026, Navitas Semiconductor Corporation issued 3,283,844 shares of its Class A common stock to satisfy obligations under its Business Combination Agreement. This issuance includes 3,277,438 shares issued in satisfaction of Triggering Event II and 6,406 shares issued to certain employees in satisfaction of Triggering Event I and II. As of the date of the filing, a total of 6,561,282 shares have been issued under the agreement. Additionally, former stockholders of Legacy Navitas and certain persons have a contingent right to receive up to 10,000,000 shares if the company's stock price meets certain targets before October 19, 2026.
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About Navitas Semiconductor Corporation
Navitas Semiconductor Corporation is a leading innovator in the field of power semiconductors, specializing in the development and manufacturing of next-generation gallium nitride (GaN) power integrated circuits. These cutting-edge components are designed to enhance the efficiency and power density of electronic systems, offering significant advantages over traditional silicon alternatives. Navitas's products are instrumental in a wide array of applications, including fast chargers for mobile devices, data centers, solar inverters, and electric vehicles. The corporation's pioneering technology enables reductions in energy consumption and CO2 emissions, aligning with global sustainability goals. By addressing critical bottlenecks in power conversion and management, Navitas Semiconductor plays a pivotal role in advancing the performance and environmental impact of electronic devices. As the demand for more efficient, smaller, and lighter power solutions grows, Navitas Semiconductor remains at the forefront of this rapidly evolving sector, contributing to the transformation of industries and influencing technological advancements worldwide.
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