Magnachip Semiconductor Corporation announced on September 21, 2026, that it has entered into a private placement agreement with Navitas Semiconductor Corporation. Under the terms of the Stock Purchase Agreement, Magnachip will issue and sell 1,461,988 shares of its common stock to Navitas at a purchase price of $3.42 per share. The transaction is expected to close on or about September 24, 2026, subject to the satisfaction of customary closing conditions.
The investment is valued at an aggregate purchase price of $5,000,000. The shares issued to Navitas will not be registered under the Securities Act of 1933 and will rely on exemptions provided by Section 4(a)(2) of the Act. Following the closing, Magnachip is required to file a registration statement on Form S-3 covering the resale of these shares within 30 days, with the goal of achieving effectiveness within 60 days of closing, or 90 days if the SEC initiates a review.
This equity investment deepens the strategic partnership between the two companies, which was announced in July 2026. At that time, Magnachip agreed to license Navitas’ GeneSiC Trench-Assisted Planar technology, covering 1,200 V, 2,300 V, 3,300 V, and higher-voltage applications. As part of the current agreement, Magnachip plans to port, qualify, and internalize the technology at its fabrication facility in South Korea. The companies are targeting applications including energy and grid infrastructure, energy storage, industrial electrification, and automotive systems.
Magnachip’s Chief Executive Officer, Chae Lee, stated that the investment represents an important step in the partnership and demonstrates a shared commitment to the opportunities they are pursuing together. Navitas’s President and Chief Executive Officer, Chris Allexandre, noted that the investment reflects confidence in the relationship and the value the two companies can create together in high-voltage and ultra-high-voltage applications.
