LOKB - Navitas Semiconductor to go public via Live Oak Acquisition combination EV of $1.4B

Navitas Semiconductor, an industry leader in GaN Power ICs,  to combine with Live Oak Acquisition ([[LOKB]] -1.0%) a publicly-traded special purpose acquisition company. The transaction values the combined entity at a pro forma equity value of $1.4B and will result in Navitas becoming a publicly traded company on a national exchange under a new ticker symbol.The transaction is anticipated to deliver up to $398 million of gross proceeds to the combined company, assuming minimal redemptions by Live Oak II's public stockholders.Gene Sheridan, co-founder and CEO of Navitas commented: "Navitas was formed with the vision to revolutionize the world of power electronics, while addressing significant sustainability challenges for our planet. Not only has Navitas' world-class team invented and patented revolutionary new technology, but we have also overcome all the key hurdles associated with successfully bringing it to market. We are proud to enter the public capital markets with strong operating momentum and investor

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Navitas Semiconductor to go public via Live Oak Acquisition combination, EV of $1.4B