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Navitas Semiconductor Corporation (NASDAQ:NVTS) shares tumbled more than 13% during Tuesday’s trading session. The decline follows the company’s announcement of a significant new capital-raising initiative.
The Nasdaq is down 1.86% while the S&P 500 has shed 0.82%.
• Navitas Semiconductor stock is taking a hit today. What’s weighing on NVTS shares?
The $125M Equity Offering
Navitas filed a prospectus supplement to sell up to $125,000,000 of its Class A common stock. The company entered into a Sales Agreement with Craig-Hallum Capital Group LLC and UBS Securities LLC.
These agents will facilitate sales from time to time through an at-the-market …
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