Magnachip Semiconductor Corporation filed a current report on September 21, 2026, disclosing a privately negotiated stock purchase agreement with Navitas Semiconductor Corporation for the issuance of common shares totaling $5,000,000.

Key Highlights

  • Agreement date: Magnachip entered the Stock Purchase Agreement with Navitas Semiconductor Corporation on September 18, 2026.
  • Share count and price: Magnachip agreed to issue and sell 1,461,988 shares of common stock at $3.42 per share.
  • Aggregate proceeds: The total purchase price for the shares is $5,000,000.
  • Expected closing: The closing is expected to occur on or about September 24, 2026, subject to customary closing conditions.
  • Registration commitment: The company agreed to file a Form S-3 registration statement covering resale of the issued shares no later than 30 days after closing.
  • Exemption relied upon: The shares will be issued in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act or Rule 506 of Regulation D.

Magnachip Issues Shares to Navitas in Private Placement Transaction

According to the filing, Magnachip Semiconductor Corporation (NYSE:MX), a Delaware-incorporated semiconductor company headquartered in Cheongju-si, Chungcheongbuk-do, Republic of Korea, entered into a privately negotiated Stock Purchase Agreement with Navitas Semiconductor Corporation on September 18, 2026. Under the terms of the agreement, Magnachip agreed to issue and sell 1,461,988 shares of its common stock, par value $0.01 per share, to Navitas at a purchase price of $3.42 per share, generating aggregate proceeds of $5,000,000.

The filing disclosed that the closing of the transaction is expected on or about September 24, 2026, contingent on the satisfaction or waiver of customary closing conditions. The shares will not be registered under the Securities Act of 1933, as amended, and will be issued in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act or Rule 506 of Regulation D. The company stated it relied on these exemptions based in part on representations made by Navitas Semiconductor Corporation as the purchaser.

The filing further disclosed that Magnachip agreed to file a resale registration statement on Form S-3 with the SEC no later than 30 days after the closing. The company stated it will use commercially reasonable efforts to cause the registration statement to become effective within 60 days following closing, or 90 days following closing if the SEC reviews the registration statement. A press release announcing the closing of the private placement was also furnished as Exhibit 99.1, according to the filing. The report was signed by Shinyoung Park, Chief Financial Officer of Magnachip Semiconductor Corporation.

What Was Disclosed

Magnachip Semiconductor Corporation reported entering a $5,000,000 stock purchase agreement with Navitas Semiconductor Corporation, covering 1,461,988 shares at $3.42 per share, along with a commitment to file a resale registration statement within 30 days of closing.