Navitas Semiconductor Hits Nasdaq

El Segundo-based semiconductor developer Navitas Semiconductor has debuted on the Nasdaq Global Market, after its acquisition by a Special Purpose Acquisition Company (SPAC), the company said on Wednesday afternoon. The developer of gallium nitride (GaN) power semiconductors says it is now trading under the ticker NVTS. The company’s move to the Nasdaq comes thanks to the deal with “blank check” acquisition company Live Oak Acquisition Corp. II, which had raised $253M in December of 2020 to acquire and take a company to the public markets. Navitas is led by CEO Gene Sheridan.