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Navitas Semiconductor has officially begun trading on the Nasdaq Global Market under the ticker NVTS as of October 20, 2021. The company's CEO, Gene Sheridan, celebrated this milestone by ringing the opening bell at the Nasdaq MarketSite in New York. Navitas, a leader in GaN power ICs, has integrated its technology in over 130 mobile chargers from major brands and shipped over 30 million GaNFast power ICs with zero field failures. The company aims to expand into new markets and reduce CO2 emissions significantly through its innovative power solutions.
Live Oak Acquisition Corp. II (NYSE: LOKB) has extended its tender offer to acquire Navitas Semiconductor Limited until September 17, 2021, at 11:59 p.m. New York City time. The acquisition is part of a Business Combination Agreement dated May 6, 2021. As of August 20, 2021, approximately 96.9% of ordinary shares and 99.7% of Series A preferred shares have been tendered. Live Oak II’s goal is to effect a merger to enhance shareholder value.
Navitas Semiconductor and Live Oak Acquisition Corp. II (NYSE: LOKB) announced an investor day event at NASDAQ on July 26, 2021, aimed at showcasing Navitas' upcoming public offering. Navitas specializes in gallium nitride (GaN) power ICs, which are projected to capture over $13 billion in market share by 2026. The event will feature live demonstrations of GaNFast charging technology and presentations from key executives. Navitas has successfully shipped over 20 million GaNFast power ICs to leading companies, emphasizing its growth and innovation in reducing energy consumption and CO2 emissions.
Live Oak Acquisition Corp. II (NYSE: LOKB) has filed a registration statement on Form S-4 with the SEC related to its proposed merger with Navitas Semiconductor, a leader in GaN Power ICs. Expected to finalize in Q3 2021, the transaction awaits stockholder approval and SEC clearance. Post-merger, Live Oak's shares will trade under the new ticker symbol 'NVTS'. Navitas is recognized for its innovative GaN technology, with over 20 million GaNFast power ICs sold, showcasing its strong market position.
Navitas Semiconductor and Live Oak Acquisition Corp. II (NYSE: LOKB) announced the filing of a registration statement on Form S-4 with the SEC for their proposed business combination. The registration includes a preliminary proxy statement/prospectus, detailing the merger process which aims to be completed in Q3 2021, pending shareholder approval. Upon closure, Live Oak's Class A common stock will change to the new ticker symbol 'NVTS'. Navitas, a leader in GaN power ICs, has shipped over 20 million GaNFast power ICs with zero reported failures, showcasing its reliable technology.
