navitas semiconductors stock was down 19 to 765 in premarket trading wednesday after the company priced its 10 millionshare underwritten public offering at 8 apiece navitas shares settled at a oneyear high of 947 on tuesday and then fell 9 in aftermarket trade when the offering was announced all of the shares in the offering are being offered by navitas the proceeds to navitas from the offering before deducting underwriting discounts and commissions and offering expenses are expected to be 80 million navitas has granted the underwriters a 30day option to buy up to an additional 15 million shares at the public offering price less underwriting discounts and commissions the offering is expected to close friday navitas intends to use the proceeds from the offering for working capital and other general corporate purposes including potential acquisitions or strategic manufacturing investments