Navitas Semiconductor prices $80M public offering of 10M shares at $8.00/share

Navitas Semiconductor Corp

Offering of 10,000,000 shares of Class A common stock at $8.00 per share, gross proceeds $80.0M.
Underwriters granted a 30-day option for up to 1,500,000 additional shares at the same price.
Net proceeds expected ~$75.2M after underwriting discounts and expenses.
Proceeds will fund working capital, general corporate purposes, and potential acquisitions or strategic manufacturing investments.
Morgan Stanley and Jefferies are joint book-running managers; Deutsche Bank also book-runner.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Navitas Semiconductor Corp entered into Underwriting Agreement with Morgan Stanley & Co. LLC and Jefferies LLC, as representatives of the several underwriters valued at $75.2 million (effective 2023-05-23).

Action: entry
Agreement: underwriting
Counterparty: Morgan Stanley & Co. LLC and Jefferies LLC, as representatives of the several underwriters
Value: $75.2 million
Effective: 2023-05-23

Exact text from the filing

On May 23, 2023, Navitas Semiconductor Corporation (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Morgan Stanley & Co. LLC and Jefferies LLC, as representatives of the several underwriters named therein (the “Underwriters”), pursuant to which the Company agreed to issue and sell 10,000,000 shares of the Company’s Class A common stock

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Navitas Semiconductor Corp filing history →

Source: SEC EDGAR

accession 0001821769-23-000099

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