On September 29, Navitas Semiconductor Corp rose 12.28% overnight, trading at $13.18/share, with turnover of approximately $98,500.

On the news front, Navitas Semiconductor Corp was awarded a US Army grant under the Accelerated, Large-Area, 10 kV SiC IGBT (ALATTIS) program to develop next-generation 10-kilovolt silicon carbide power semiconductor technology. Sponsored by the US Army Research Laboratory under the Army Combat Capabilities Development Command, the program aims to develop, implement, and validate a new domestic US manufacturing process for ultra-high-voltage semiconductor devices through design, fabrication, and testing. The initiative is intended to accelerate the deployment of SiC IGBT and related technologies in mission-critical military systems.

The grant comes amid a period of intensifying strategic activity for the company. Navitas recently signed a stock purchase agreement with MagnaChip Semiconductor, investing $5 million to acquire approximately 1.5 million common shares at $3.42 per share. The two companies are also exploring broader technology and product collaboration, building on Navitas's earlier licensing of its Genesic SiC technology to MagnaChip covering 1200V to 3300V and above high-voltage SiC devices.

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