Navitas Semiconductor Corporation
Navitas Semiconductor Issues Shares to Satisfy Business Combination Agreement Obligations
Summary
On June 15, 2026, Navitas Semiconductor Corporation issued 3,280,666 shares of its Class A common stock to satisfy its obligations under the Business Combination Agreement. This issuance was part of the contingent right for former stockholders of Legacy Navitas and certain persons to receive up to a total of 10,000,000 shares if certain price targets were achieved before October 19, 2026. As of the date of the filing, a total of 9,841,948 shares have been issued by the Company, and all Triggering Events under the Business Combination Agreement have been met and all earnout share issuances required in connection with the Triggering Events have been effected.
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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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