AES Semigas


23 December 2020

Transphorm raising $15m in private placement

Transphorm Inc of Goleta, near Santa Barbara, CA, USA — which designs and manufactures JEDEC- and AEC-Q101-qualified 650V and 900V gallium nitride (GaN) field-effect transistors (FETs) for high-voltage power conversion applications — has priced a private placement of 5,000,000 shares of its common stock at a price of $3.00 per share, to raise gross proceeds of $15m (before deducting placement agent commissions, financial advisor fees and other offering expenses).

Transphorm intends to utilize the net proceeds to scale the continued ramp of new design-ins and volume shipments of GaN products for the fast-charging power adapter, server, power supply and other markets, expanded sampling and qualification of products for electric vehicle (EV) automotive applications, growth of its epitaxial wafer business, as well as working capital to support general operations.

Loop Capital Markets LLC and Spartan Capital Securities, LLC acted as placement agents for the private placement. B. Riley Securities Inc. and Craig-Hallum Capital Group LLC acted as financial advisors.

See related items:

Transphorm expands multi-year development agreement with Yaskawa

Tags: Transphorm



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