Navitas Semiconductor shares are trading lower after the company announced a proposed public offering of $80 million shares of Class A common stock.
Portfolio Pulse from Benzinga Newsdesk
Navitas Semiconductor announces a proposed public offering of $80 million shares of Class A common stock, causing its shares to trade lower.
May 24, 2023 | 12:27 pm
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Navitas Semiconductor's stock price is trading lower due to the announcement of a proposed $80 million public offering of Class A common stock.
The announcement of a proposed public offering of $80 million shares of Class A common stock by Navitas Semiconductor has led to a decrease in its stock price. This is because the market perceives the offering as diluting the value of existing shares, causing the stock price to trade lower.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100