Navitas Semiconductor Files Mixed Shelf Registration, Launches $500 Million ATM Stock Offering

MT Newswires Live06-08 20:58

Navitas Semiconductor (NVTS) filed Monday a registration statement with the US Securities and Exchange Commission for the potential sale of its securities, namely, common stock, preferred stock, debt securities, warrants, rights, and units.

Proceeds from the offering will be used for working capital and other general corporate purposes, including potential acquisitions, according to the company's registration statement.

Navitas Semiconductor also entered into an at-the-market offering agreement with UBS Securities, Morgan Stanley, and Needham & Company for the sale of up to $500 million of its Class A common stock, the filing said.

Shares of the company were up about 5% in Monday premarket trading.

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