{"id":404474,"date":"2020-12-22T08:40:25","date_gmt":"2020-12-22T13:40:25","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=404474"},"modified":"2020-12-22T08:40:25","modified_gmt":"2020-12-22T13:40:25","slug":"transphorm-announces-pricing-of-15-million-private-placement-of-common-stock","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/transphorm-announces-pricing-of-15-million-private-placement-of-common-stock\/","title":{"rendered":"Transphorm Announces Pricing of $15 Million Private Placement of Common Stock"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Transphorm Announces Pricing of $15 Million Private Placement of Common Stock<\/b><\/p>\n<p>GOLETA, Calif.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.transphormusa.com%2Fen%2F&amp;esheet=52352633&amp;newsitemid=20201222005373&amp;lan=en-US&amp;anchor=Transphorm%2C+Inc.&amp;index=1&amp;md5=727353b8233fd7487adfb818d2f98cb8\">Transphorm, Inc.<\/a> (OTCQB: TGAN)\u2014a pioneer in and global supplier of high reliability, high performance gallium nitride (GaN) power conversion products\u2014today 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.\n<\/p>\n<p>\nThe 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 capital to support general operations.\n<\/p>\n<p>\nThe securities to be sold in the private placement have not been registered under the Securities Act of 1933, as amended (the \u201cSecurities Act\u201d) or any state or other jurisdiction\u2019s securities laws, and may not be resold absent registration under, or exemption from registration under, the Securities Act. Transphorm has agreed to file a registration statement with the Securities and Exchange Commission registering the resale of the shares of common stock to be issued and sold in the private placement within 30 days of the closing of the private placement.\n<\/p>\n<p>\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.\n<\/p>\n<p>\nLoop Capital Markets LLC and Spartan Capital Securities, LLC acted as placement agents for the private placement. B. Riley Securities, Inc. and Craig-Hallum Capital Group LLC acted as financial advisors for the private placement.\n<\/p>\n<p><b>About Transphorm<\/b><\/p>\n<p>\nTransphorm, Inc., a global leader in the GaN revolution, designs and manufactures high performance and high reliability GaN semiconductors for high voltage power conversion applications. Having one of the largest Power GaN IP portfolios of more than 1,000 owned or licensed patents, Transphorm produces the industry\u2019s first JEDEC and AEC-Q101 qualified high voltage GaN semiconductor devices. The Company\u2019s vertically integrated device business model allows for innovation at every development stage: design, fabrication, device, and application support. Transphorm\u2019s innovations are moving power electronics beyond the limitations of silicon to achieve over 99% efficiency, 40% more power density and 20% lower system cost. Transphorm is headquartered in Goleta, California and has manufacturing operations in Goleta and Aizu, Japan. For more information, please visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.transphormusa.com&amp;esheet=52352633&amp;newsitemid=20201222005373&amp;lan=en-US&amp;anchor=www.transphormusa.com&amp;index=2&amp;md5=018e35dec846a0fab59fe50c10ac3598\">www.transphormusa.com<\/a>. Follow us on Twitter <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ftwitter.com%2Ftransphormusa&amp;esheet=52352633&amp;newsitemid=20201222005373&amp;lan=en-US&amp;anchor=%40transphormusa&amp;index=3&amp;md5=4daf06b2e98d519d6e647728ab07d5e7\">@transphormusa<\/a>.\n<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nAll statements in this press release that are not historical are forward-looking statements, including, among other things, statements relating to the Company\u2019s expectations regarding the expected gross proceeds from, and the timing of the expected closing of, the private placement. These statements are not historical facts but rather are based on the Company\u2019s current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as \u201cmay,\u201d \u201cwill,\u201d \u201ccould,\u201d \u201cwould,\u201d \u201cshould,\u201d \u201canticipate,\u201d \u201cpredict,\u201d \u201cpotential,\u201d \u201ccontinue,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cproject,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company\u2019s control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company\u2019s filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201222005373r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20201222005373\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201222005373\/en\/<\/a><\/span><\/p>\n<p><b>Investor Contacts:<br \/>\n<\/b><br \/>Shelton Group<br \/>\n<br \/>Brett Perry | Leanne Sievers<br \/>\n<br \/>1-214-272-0070 | 1-949-224-3874<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:sheltonir@sheltongroup.com\">sheltonir@sheltongroup.com<br \/>\n<\/a><\/p>\n<p><b>Company Contact:<br \/>\n<\/b><br \/>Cameron McAulay<br \/>\n<br \/>Chief Financial Officer<br \/>\n<br \/>1-805-456-1300 ext. 140<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:cmcaulay@transphormusa.com\">cmcaulay@transphormusa.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> California United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Electronic Design Automation Semiconductor Data Management Technology Networks Hardware<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20201222005373\/en\/833760\/3\/TransphormLogo_color_%28Oct_2020%29.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Transphorm Announces Pricing of $15 Million Private Placement of Common Stock GOLETA, Calif.&#8211;(BUSINESS WIRE)&#8211;Transphorm, Inc. (OTCQB: TGAN)\u2014a pioneer in and global supplier of high reliability, high performance gallium nitride (GaN) power conversion products\u2014today 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 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/transphorm-announces-pricing-of-15-million-private-placement-of-common-stock\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Transphorm Announces Pricing of $15 Million Private Placement of Common Stock&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-404474","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Transphorm Announces Pricing of $15 Million Private Placement of Common Stock - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/transphorm-announces-pricing-of-15-million-private-placement-of-common-stock\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Transphorm Announces Pricing of $15 Million Private Placement of Common Stock - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Transphorm Announces Pricing of $15 Million Private Placement of Common Stock GOLETA, Calif.&#8211;(BUSINESS WIRE)&#8211;Transphorm, Inc. (OTCQB: TGAN)\u2014a pioneer in and global supplier of high reliability, high performance gallium nitride (GaN) power conversion products\u2014today 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. 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(OTCQB: TGAN)\u2014a pioneer in and global supplier of high reliability, high performance gallium nitride (GaN) power conversion products\u2014today 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. 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