Navitas Semiconductor Corp's stock fell 5.03% in post-market trading on Monday, reversing gains from the regular session.
The sharp decline appears to be driven by two key factors. Firstly, the company's Q1 revenue is expected to decline year-over-year, which weighed on investor sentiment despite improvements in other financial metrics. Secondly, Navitas Semiconductor filed for a mixed shelf offering of up to $250 million and announced an at-the-market equity offering program of up to $125 million, moves that could potentially dilute existing shareholders' equity.
These developments triggered a selloff in the post-market session as investors reacted to the combination of near-term revenue challenges and the potential dilution from the proposed capital raises.