---
schema_version: "secwatch.filing_event.v1"
accession: "0001715768-23-000112"
form_type: "8-K"
ticker: null
cik: "0001715768"
company_name: "Transphorm, Inc."
filed_at: "2023-12-28T23:59:59+00:00"
generated_at: "2026-06-07T06:24:21.411577+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Transphorm raises $3.0M via warrant exercise, $2.1M via equipment sale to extend runway

## Summary
- Entered inducement letters with existing investors to exercise 1,069,272 warrants at lowered $2.80/share, raising $3.0M in cash.
- Issued new warrants exercisable at $3.80/share, expiring Dec 2026, covering same number of shares.
- Sold wafer equipment to GlobalWafers for $2.1M; repurchase option within 1 year at 7.5% annualized cost.
- Proceeds from both transactions used for working capital and to extend runway during strategic review managed by BofA Securities.
- Strategic review process previously disclosed; no transaction guaranteed.

## SEC filing metadata
- accession: 0001715768-23-000112
- form_type: 8-K
- cik: 0001715768
- company_name: Transphorm, Inc.
- filed_at: 2023-12-28T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 3.02, 3.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1715768/000171576823000112/0001715768-23-000112-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1715768/000171576823000112/tgan-20231221.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001715768-23-000112
- JSON: https://secwatch.observer/filing/0001715768-23-000112.json
- Plain text: https://secwatch.observer/filing/0001715768-23-000112.txt

## Key facts
- Debt Financings
  Transphorm, Inc. amended debt of $2.1 million with GlobalWafers Co., Ltd. at 7.5% maturing one year from the Effective Date.
  - Principal: $2.1 million
  - Counterparty: GlobalWafers Co., Ltd.
  - Rate: 7.5%
  - Maturity: one year from the Effective Date
  - Event: amendment
  source text: Agreement ”) with GlobalWafers Co., Ltd. (the “Buyer”), wherein the Company sold certain equipment associated with wafer manufacturing (the "Equipment") to the Buyer for $2.1 million (the “Purchase Price”). The Equipment Agreement contains an option for the Company to repurchase the Equipment at any time within one year of the Effective Date at the Purchase
  evidence_url: https://www.sec.gov/Archives/edgar/data/1715768/000171576823000112/0001715768-23-000112-index.htm
- Material Agreements
  Transphorm, Inc. entered into Equipment Purchase and Sale Agreement with GlobalWafers Co., Ltd. valued at Company sold certain equipment associated with wafer manufacturing for $2.1 million; includes option (effective 2023-12-21).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: GlobalWafers Co., Ltd.
  - Value: Company sold certain equipment associated with wafer manufacturing for $2.1 million; includes option
  - Effective: 2023-12-21
  source text: On December 21, 2023 (the “Effective Date”), the Company entered into an Equipment Purchase and Sale Agreement (the “ Equipment Agreement ”) with GlobalWafers Co., Ltd. (the “Buyer”), wherein the Company sold certain equipment associated with wafer manufacturing (the "Equipment") to the Buyer for $2.1 million (the “Purchase Price”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1715768/000171576823000112/0001715768-23-000112-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.