Navitas Semiconductor Corporation entered into a definitive Stock Purchase Agreement on September 18, 2026, to acquire shares of Magnachip Semiconductor Corporation. Under the agreement, Magnachip will issue and sell 1,461,988 shares of its common stock to Navitas at a price of $3.42 per share.
The transaction is valued at an aggregate purchase price of $5,000,000. The closing of the deal is scheduled to occur on or about September 24, 2026, contingent upon the satisfaction of customary closing conditions.
The agreement includes standard representations, warranties, and covenants. Additionally, Magnachip has agreed to file a registration statement on Form S-3 with the Securities and Exchange Commission no later than 30 days after the closing. The company is required to use commercially reasonable efforts to have the statement become effective within 60 days of the closing, or 90 days if the SEC initiates a review.
The shares issued in this transaction will not be registered under the Securities Act of 1933, but will be issued pursuant to an exemption from registration requirements provided by Section 4(a)(2) of the Act or Rule 506 of Regulation D.
