Transphorm Announces Closing of $15 Million Private Placement of Common Stock GOLETA, Calif. (Business Wire) Transphorm, Inc. (OTCQB: TGAN) a pioneer in and global supplier of high reliability, high performance gallium nitride (GaN) power conversion products today announced the closing of a common stock only private placement of 5,000,000 shares at a price of $3.00 per share, resulting in gross proceeds to Transphorm of $15.0 million, before deducting placement agent commissions, financial advisor fees and other offering expenses.
“We are very pleased with the strong support from the financial community for Transphorm’s vision and the representative growth opportunities for our high-voltage GaN power devices,” stated Mario Rivas, Chief Executive Officer. “In addition to strengthening Transphorm’s overall financial position, completion of this funding enables us to aggressively ramp production in support of secured design-ins for fast charging power adapter applications,
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Transphorm Announces Closing of $15 Million Private Placement of Common Stock
December 24, 2020 GMT
GOLETA, Calif. (BUSINESS WIRE) Dec 24, 2020
Transphorm, Inc. (OTCQB: TGAN) a pioneer in and global supplier of high reliability, high performance gallium nitride (GaN) power conversion products today announced the closing of a common stock only private placement of 5,000,000 shares at a price of $3.00 per share, resulting in gross proceeds to Transphorm of $15.0 million, before deducting placement agent commissions, financial advisor fees and other offering expenses.
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“We are very pleased with the strong support from the financial community for Transphorm’s vision and the representative growth opportunities for our high-voltage GaN power devices,” stated Mario Rivas, Chief Executive Officer. “In addition to strengthening Transphorm’s overall financial position, co
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Transphorm, Inc. (OTCQB: TGAN) a pioneer in and global supplier of high reliability, high performance gallium nitride (GaN) power conversion products today announced the pricing of a private placement of 5,000,000 shares of its common stock at a price of $3.00 per share, for expected gross proceeds to Transphorm of $15.0 million, before deducting placement agent commissions, financial advisor fees and other offering expenses.
The closing of the private placement is expected to occur on or about December 22, 2020, subject to the satisfaction of customary closing conditions. Transphorm intends to utilize the net proceeds to scale the continued ramp of new design-ins and volume shipments of GaN products for the fast charging power adapter, server, power supply and other markets, expanded sampling and qualification of products for EV automotive applications, growth of its epi wafer business as well as working