Navitas Semiconductor, the Industry Leader in Gallium Nitride (GaN) Power ICs, to Go Public at an Enterprise Value of $1.04 Billion via Live Oak II SPAC Business Combination

• Deal raises approximately $400M capital, including an over-subscribed and upsized $145M PIPE.

• Capital to be used for accelerated product development and expansion into power semi markets estimated at a $13B TAM, including mobile, consumer, enterprise, renewables and EV / eMobility.

• Navitas estimates that its proprietary and highly patent-protected GaNFast™ power ICs deliver up to 3x faster charging in half the size and weight and up to 40% energy savings compared with legacy silicon chips.

• Over 18 million GaNFast™ power ICs have shipped, with zero reported field failures, to Tier-1 customers including Dell, Lenovo, Xiaomi, OPPO, LG, Amazon, Belkin and dozens more.

• Committed manufacturing capacity well in excess of current forecasts to confidently meet strong customer demand.

• Navitas estimates that GaN ICs can impact up to 2.6 Gtons of CO2 reduction annually by 2050.