Navitas Semiconductor filed a Form S-3 shelf registration and prospectus supplement to establish an at-the-market (ATM) sales program. The company may offer and sell up to $500 million of its Class A Common Stock. UBS Securities LLC, Morgan Stanley & Co. LLC, and Needham & Company, LLC are managing the sales.
Proceeds are designated for general corporate purposes and working capital. Navitas may also use the capital to fund potential acquisitions. While the program provides financial flexibility, the issuance of new shares will result in the dilution of existing shareholder stakes.