Magnachip Announces Strategic Investment by Navitas Semiconductor
SEOUL, South Korea--(BUSINESS WIRE)--Magnachip Semiconductor Corporation (NYSE: MX) (“Magnachip” or the “Company”), a designer and manufacturer of analog and mixed-signal power semiconductor platform solutions, today announced that Navitas Semiconductor Corporation (Nasdaq: NVTS) (“Navitas”) has agreed to make a $5 million strategic equity investment in Magnachip. Under the terms of a privately negotiated stock purchase agreement, Magnachip will issue and sell 1,461,988 shares of its common sto