other material
confidence high
sentiment neutral
materiality 0.50
Navitas underwriters exercise full option for 1.5M shares; total net proceeds $86.9M
Navitas Semiconductor Corp
- Underwriters purchased additional 1,500,000 shares at $8.00, closing June 5, 2023.
- Total shares sold increased to 11,500,000; aggregate gross proceeds reached $92.0M.
- Net proceeds after discounts: $86.9M; additional $12M gross from option tranche.
- Proceeds to fund working capital, potential acquisitions, or strategic manufacturing investments.