News: Microelectronics
21 September 2021
Live Oak II’s registration statement for business combination with Navitas declared effective by SEC
Live Oak Acquisition Corp II, a publicly traded special-purpose acquisition company (SPAC), says that its registration statement on Form S-4 filed in connection with its proposed business combination with GaN power integrated circuits firm Navitas Semiconductor of El Segundo, CA, USA and Dublin, Ireland has been declared effective by the US Securities and Exchange Commission (SEC).
Since gallium nitride (GaN) is reckoned to run up to 20x faster than silicon, Navitas’ proprietary GaNFast power ICs are said to deliver up to 3x faster charging and 3x more power in half the size and weight, and with up to 40% energy savings compared with silicon chips. Founded in 2014, Navitas introduced what it claimed to be the first commercial GaN power ICs, which monolithically integrate GaN power field-effect transistors (FETs) and drive plus control and protection circuits, enabling faster charging, higher power density and greater energy savings for mobile, consumer, enterprise (data center, 5G), renewables (solar, energy storage) and electric vehicles (EVs)/eMobility markets. With over 130 patents issued or pending and a proprietary process design kit (PDK), Navitas believes it has a multi-year lead in next-generation GaN power ICs.
Live Oak II also announced a record date of 13 September and a meeting date of 12 October for its special meeting of stockholders (at 10am Eastern Time, via live webcast at www.cstproxy.com/liveoakacqii/2021) to approve the business combination. The closing of the business combination is subject to approval by Live Oak II’s stockholders, and the satisfaction of other customary closing conditions. The business combination is expected to close promptly after the special meeting.
Upon closing, the combined company is expected to be listed on the Nasdaq Global Market with its common stock and warrants trading under the new ticker symbols ‘NVTS’ and ‘NVTSW’, respectively.
Navitas and Live Oak II announce extra $10m PIPE investment, raising total expected to $155m
Live Oak II files SEC registration statement for business combination with Navitas
