AES Semigas


31 July 2023

Transphorm’s rights offering raises $7.94m

Transphorm Inc of Goleta, near Santa Barbara, CA, USA — which designs and manufactures JEDEC- and AEC-Q101-qualified gallium nitride (GaN) field-effect transistors (FETs) for high-voltage power conversion —says that its rights offering (announced on 16 June), which entitled eligible stockholders to purchase 0.07655623 of a share of common stock for every right held at a subscription price of $3.30 per whole share, has resulted in the sale of 2,404,758 shares, generating about $7.94m in gross proceeds. After giving effect to the rights offering, the firm has about 61.8 million shares of common stock issued and outstanding.

KKR Phorm Investors L.P. exercised in full its basic subscription rights in the rights offering. In addition, all executive officers and certain directors of the company each acquired shares in the offering. Updated positions of their shares held will be disclosed via Form 4 filings with the US Securities and Exchange Commission (SEC).

“With the completion of the rights offering, Transphorm is now well positioned to begin a review of strategic opportunities and alternatives for enhancing and maximizing stockholder value including, but not be limited to, strategic partnerships, licensing opportunities in the USA and Asia, and potential M&A opportunities,” says Transphorm’s president, CEO & co-founder Primit Parikh.

See related items:

Transphorm announces commencement of rights offering

Transphorm announces rights offering to raise $15m

Tags: Transphorm GaN-on-Si GaN HEMT