Navitas Semiconductor Announces Proposed Public Offering of Class A Common Stock

TORRANCE, Calif., May 23, 2023 (GLOBE NEWSWIRE) — Navitas Semiconductor Corporation (Nasdaq:NVTS), an industry leader in next-generation power semiconductors, announced today that it has commenced an underwritten public offering of $80.0 million of shares of its Class A common stock. All of the shares in the proposed offering are being offered by Navitas. In addition, Navitas intends to grant the underwriters a 30-day option to purchase up to an additional $12.0 million of shares of its Class A common stock at the public offering price, less underwriting discounts and commissions. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

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