Corporate ActionJun 15, 2026, 05:21 PM
Navitas Semiconductor Issues 3.28M Shares, Completes Earnout Obligations
AI Summary
Navitas Semiconductor Corporation announced the issuance of 3,280,666 shares of its Class A common stock. This issuance fulfills the company's obligations for Triggering Event III as defined in the Business Combination Agreement from May 6, 2021. With this, all triggering events under the agreement have been met, and all required earnout share issuances have been completed, totaling 9,841,948 shares issued.
Key Highlights
- Navitas Semiconductor issued 3,280,666 shares of Class A common stock for Triggering Event III.
- The issuance satisfies obligations from the May 6, 2021 Business Combination Agreement.
- Total of 9,841,948 Class A common shares have been issued under the agreement to date.
- All Triggering Events under the Business Combination Agreement have been met.
- All earnout share issuances required by the agreement have been completed.
Price Impact
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