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.
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IMPORTANCE 80
RELEVANCE 100