Magnachip Semiconductor Corporation (MX) has entered into a stock purchase agreement with Navitas Semiconductor Corporation for a $5 million strategic equity investment. This private placement deepens the existing strategic partnership between the two companies, which is focused on accelerating the adoption of silicon carbide (SiC) technologies for high-voltage power markets.
Key Details
- Transaction Terms: Navitas will purchase 1,461,988 shares of Magnachip's common stock at a price of $3.42 per share, for an aggregate purchase price of $5,000,000.
- Timeline: The stock purchase agreement was signed on September 18, 2026, and the transaction is expected to close on or about September 24, 2026.
- Strategic Context: The investment builds upon a July 2026 partnership announcement where Magnachip licensed Navitas' GeneSiC™ technology to enter the high-voltage and ultra-high-voltage power markets.