Navitas Semiconductor Corporation has entered into a definitive agreement to acquire Claros, Inc. through a merger. The total estimated purchase price is approximately $232.8 million, comprised of cash, stock, and a performance-based earnout. The acquisition is subject to customary closing conditions and is expected to be completed before the end of 2026.
Key Details
- Total Consideration: The aggregate purchase price is estimated at ~$232.8 million, consisting of ~$126.4 million in cash and ~$89.7 million in Navitas common stock (approx. 6.9 million shares) payable at closing.
- Earnout & Equity: The agreement includes a potential earnout of ~$16.7 million payable in stock (up to ~1.28 million shares) based on milestones over a two-year period. Additionally, Navitas will issue Performance Stock Units (PSUs) valued at ~$28.9 million to certain Claros employees.
- Timeline & Conditions: The merger is anticipated to close before December 31, 2026, subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Act.