Navitas Semiconductor Corporation filed an amended current report (Form 8-K/A, Amendment No. 1) on September 21, 2026, correcting the signing date of a Stock Purchase Agreement with Magnachip Semiconductor Corporation from September 19, 2026 to September 18, 2026.

Key Highlights

  • Date correction: The amendment was filed solely to correct the Purchase Agreement signing date to September 18, 2026, from September 19, 2026 as reported in the original filing.
  • Investment size: Navitas agreed to purchase 1,461,988 shares of Magnachip common stock at $3.42 per share, for an aggregate purchase price of $5,000,000.
  • Expected closing: The transaction is expected to close on or about September 24, 2026, subject to customary closing conditions.
  • Registration rights: Magnachip agreed to file a Form S-3 registration statement with the SEC no later than 30 days after closing, covering resale of the shares.
  • Exemption from registration: The shares will be issued in reliance on the exemption provided by Section 4(a)(2) of the Securities Act or Rule 506 of Regulation D.

Navitas Semiconductor's $5 Million Stock Purchase Agreement with Magnachip

According to the filing, Navitas Semiconductor Corporation (NASDAQ:NVTS) entered into a Stock Purchase Agreement with Magnachip Semiconductor Corporation on September 18, 2026. Under the terms disclosed, Magnachip agreed to issue and sell 1,461,988 shares of its common stock, par value $0.01 per share, at a purchase price of $3.42 per share, resulting in an aggregate purchase price of $5,000,000. The amendment clarifies that the only change from the original filing is the correction of the signing date; no other changes were made.

The filing states that the Purchase Agreement contains "customary representations, warranties and covenants, which were made only for purposes of the Purchase Agreement and as of specific dates, were solely for the benefit of the parties to the Purchase Agreement, and may be subject to limitations agreed upon by the Company and Magnachip." The transaction is expected to close on or about September 24, 2026, subject to the satisfaction or waiver of customary closing conditions.

Regarding registration of the acquired shares, the filing discloses that Magnachip agreed to file a resale registration statement on Form S-3 with the SEC no later than 30 days after closing. Magnachip agreed to use commercially reasonable efforts to cause that registration statement to become effective within 60 days following the closing, or 90 days if the SEC reviews the statement, or by the fifth business day after the SEC notifies Magnachip that the registration statement will not be reviewed or is no longer subject to further review and comments. Until registration, the shares will be issued without registration under the Securities Act of 1933, relying on Section 4(a)(2) or Rule 506 of Regulation D.

What Was Disclosed

This amended filing corrects the signing date of a $5,000,000 Stock Purchase Agreement between Navitas Semiconductor and Magnachip Semiconductor, covering 1,461,988 shares at $3.42 per share, with closing expected on or about September 24, 2026.