$Navitas Semiconductor Corp(NVTS)$ investors had a lot to be excited about last week, with Q1 2023 revenue literally doubling year over year, order backlog up 50%, and management targeting another double in revenue in the second quarter. 🔥
However, $Navitas Semiconductor Corp(NVTS)$ announced the pricing of its previously announced underwritten public offering of 10,000,000 shares of its Class A common stock at a price to the public of $8.00 per share. All of the shares in the offering are being offered by Navitas. The gross proceeds to Navitas from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be $80.0 million.
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