Navitas Semiconductor issued 3,280,666 shares of its Class A common stock on June 15, 2026, to satisfy the final earnout milestone, referred to as "Triggering Event III," from its May 2021 Business Combination Agreement. This issuance concludes all earnout obligations related to the company's merger and public listing.
Key Details
- Final Earnout Issuance: The 3,280,666 shares were issued to former stockholders of Legacy Navitas upon achieving the final stock price target outlined in the 2021 agreement.
- Agreement Completion: With this action, all contingent "Triggering Events" under the Business Combination Agreement have been met, and all required earnout shares have been issued.
- Total Shares Issued: A cumulative total of 9,841,948 shares (out of a possible 10,000,000) have been issued to satisfy all earnout milestones from the agreement.