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Live Oak Acquisition Corp II (NYSE: LOKB) and Navitas Semiconductor Announce Upcoming New York Investor Meeting to Feature Key Industry-Leader Presentations
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Live Oak Acquisition Corp II (NYSE: LOKB) and Navitas Semiconductor Announce Upcoming New York Investor Meeting to Feature Key Industry-Leader Presentations
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
Navitas to go public with valuation in excess of $1bn Navitas Semiconductor, a specialist in GaN Power ICs, has entered into a definitive agreement to combine with Live Oak Acquisition Corp. II, a publicly-traded special purpose acquisition company.
The transaction, which values the combined entity at a pro forma equity value of just over $1 billion, will result in Navitas becoming a publicly traded company.
Gallium nitride (GaN), a next-generation semiconductor technology that runs up to 20x faster than legacy silicon, enables up to 3x more power or 3x faster charging in half the size and weight.
Driven by increasing demand for connectivity, electrification away from fossil fuels, and efficient sustainable energy sources, Navitas is predicting that GaN ICs will be able to address markets that are estimated to grow to over $13 billion by 2026. Markets include mobile, consumer, enterprise (data center, 5G), renewables (solar, energy storage) and EV/eMobi
GaN IC maker Navitas to go public
GaN power IC company Navitas Semiconductor is to become a publicly-traded company by combining with Live Oak Acquisition Corp II, a publicly-traded special purpose acquisition company.
The transaction will value the combined entity at a pro forma equity value of $1.4bn, according to Navitas.
“Not only has Navitas’ world-class team invented and patented revolutionary new technology, but we have also overcome all the key hurdles associated with bringing it to market,” said Navitas CEO and co-founder Gene Sheridan (
pictured). “We are proud to enter the public capital markets with operating momentum and investor partners who share our enthusiasm for our long-term mission.”
Ireland draws startups to relocate from Silicon Valley
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