Transphorm secures $16M from investors' green shoe exercise

Jun. 03, 2022 10:34 AM ETTransphorm, Inc. (TGAN)By: Preeti Singh, SA News Editor14 Comments
  • Transphorm (NASDAQ:TGAN) has secured $16M in gross proceeds as a result of the exercise of the green shoe option associated with the company's private placement completed in Nov. 2021.
  • Under the terms of the green shoe exercise, Transphorm (TGAN)  issued 3,199,999 shares of its common stock as well as warrants to purchase an aggregate of 666,668 shares of its common stock at an exercise price of $6.00/share.
  • As a result of the exercise, the company holds cash and cash equivalents of over $45M as of June 3, 202.
  • Since Oct. 2021, Transphorm has raised ~$61M in proceeds from equity financings.

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