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Live Oak Acquisition Corp. II and Navitas Semiconductor Close Business Combination

Deals & Cases
October 20, 2021
Navitas Semiconductor, the Industry Leader in Gallium Nitride (GaN) Power ICs, to Go Public at an Enterprise Value of $1.04 Billion via Live Oak II SPAC Business Combination Background Image
Deals & Cases
October 20, 2021

Vinson & Elkins advised Live Oak Acquisition Corp. II (“Live Oak II”), a publicly-traded special purpose acquisition company, in a definitive agreement to combine with Navitas Semiconductor, the industry leader in Gallium nitride (GaN) Power ICs. GAN is a next-generation semiconductor technology that runs up to 20x faster than legacy silicon, and enables up to 3x more power or 3x faster charging in half the size and weight.

The transaction, which values the combined entity at a pro forma equity value of $1.04 billion, resulted in Navitas’ common shares and warrants to begin trading on October 20, 2021 on the Nasdaq Global Market under the ticker symbols “NVTS” and “NVTSW”.

The V&E team was led by partners Sarah Morgan and John Kupiec, senior associates Nettie Downs and Zach Swartz and associates Carmen Guidry, Nina Bhatia and Travis Ewing. Partners John Lynch and Ryan Carney and senior associate Megan James provided tax advice.

About Vinson & Elkins
For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 11 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting www.velaw.com or connect with us on LinkedIn.

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