Unregistered Sales of Equity Securities and Use of Proceeds.
−Removed: On June 10, 2022, in connection with the acquisition of VDDTECH srl, a private Belgian company (“VDDTech”), by Navitas Semiconductor Limited, our wholly owned subsidiary, we issued 414,207 shares of our common stock to the former shareholders of VDDTech.
−Removed: Consideration for all of the capital stock of VDDTech consisted of 150,616 shares and approximately $791,000 in cash.
+Added: On August 24, 2022, we issued 170,068 shares of our common stock in consideration for certain advisory services valued at approximately $1,000,000 provided by a financial advisor.
The shares were issued in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended, or Rule 506 thereunder.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.