Reply To: Traders Market Weekly: Summer, Manufacturing, Jobs and Debt Ceiling


Navitas Semiconductor $NVTS -23.1% at $7.28 premarket.

Priced underwritten public offering to raise $80 million. Will sell 10 million shares of its Class A common stock at $8.00 apiece.

Offer price implies 15.5% discount to closing price of $9.47 Tuesday.

The underwriters have a 30-day option to purchase up to an additional 1.5 million Class A shares.
The net proceeds from the offering will be used for working capital and other general corporate purposes, including potential acquisitions or strategic manufacturing investments.

Morgan Stanley and Jefferies are acting as lead book-running managers for the offering.
Deutsche Bank Securities is also acting as a bookrunner. Needham & Company is acting as the lead manager. Craig-Hallum and Rosenblatt Securities are acting as co-managers.