0001821769-23-000004.txt : 20230104 0001821769-23-000004.hdr.sgml : 20230104 20230104204305 ACCESSION NUMBER: 0001821769-23-000004 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20220303 FILED AS OF DATE: 20230104 DATE AS OF CHANGE: 20230104 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Wunderlich Gary Kent JR CENTRAL INDEX KEY: 0001709974 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-39755 FILM NUMBER: 23509455 MAIL ADDRESS: STREET 1: CLO B. RILEY FINANCIAL, INC., STREET 2: 21255 BURBANK BLVD., SUITE 400 CITY: WOODLAND STATE: CA ZIP: 91367 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Navitas Semiconductor Corp CENTRAL INDEX KEY: 0001821769 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 852560226 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 3520 CHALLENGER ST. CITY: TORRANCE STATE: CA ZIP: 90503 BUSINESS PHONE: 844-654-2642 MAIL ADDRESS: STREET 1: 3520 CHALLENGER ST. CITY: TORRANCE STATE: CA ZIP: 90503 FORMER COMPANY: FORMER CONFORMED NAME: Live Oak Acquisition Corp II DATE OF NAME CHANGE: 20200819 4 1 wf-form4_167288296867395.xml FORM 4 X0306 4 2022-03-03 0 0001821769 Navitas Semiconductor Corp NVTS 0001709974 Wunderlich Gary Kent JR 40 S. MAIN STREET, #2550 MEMPHIS TN 38103 1 0 0 0 Class A Common Stock 2022-03-03 4 M 0 10000 11.50 A 10000 I Trust A Class A Common Stock 2022-03-03 4 F 0 7390 D 2610 I Trust A Class A Common Stock 2022-03-03 4 M 0 10000 11.50 A 10000 I Trust B Class A Common Stock 2022-03-03 4 F 0 7390 D 2610 I Trust B Class A Common Stock 2022-03-03 4 M 0 10000 11.50 A 10000 I Trust C Class A Common Stock 2022-03-03 4 F 0 7390 D 2610 I Trust C Class A Common Stock 2022-03-03 4 M 0 10000 11.50 A 10000 I Trust D Class A Common Stock 2022-03-03 4 F 0 7390 D 2610 I Trust D Class A Common Stock 2022-03-03 4 M 0 10000 11.50 A 10000 I Individual retirement account Class A Common Stock 2022-03-03 4 F 0 7390 D 2610 I Individual retirement account Class A Common Stock 2022-03-03 4 M 0 124405 11.50 A 147618 D Class A Common Stock 2022-03-03 4 F 0 91936 D 55682 D Class A Common Stock 2022-03-04 4 M 0 90476 11.50 A 146158 D Class A Common Stock 2022-03-04 4 F 0 66862 D 79296 D Class A Common Stock 6315000 I Live Oak Sponsor Partners II, LLC Public Warrants (right to buy) 11.5 2022-03-03 4 M 0 10000 0 D 2021-12-07 2022-03-07 Class A Common Stock 10000.0 0 I Trust A Public Warrants (right to buy) 11.5 2022-03-03 4 M 0 10000 0 D 2021-12-07 2022-03-07 Class A Common Stock 10000.0 0 I Trust B Public Warrants (right to buy) 11.5 2022-03-03 4 M 0 10000 0 D 2021-12-07 2022-03-07 Class A Common Stock 10000.0 0 I Trust C Public Warrants (right to buy) 11.5 2022-03-03 4 M 0 10000 0 D 2021-12-07 2022-03-07 Class A Common Stock 10000.0 0 I Trust D Public Warrants (right to buy) 11.5 2022-03-03 4 M 0 10000 0 D 2021-12-07 2022-03-07 Class A Common Stock 10000.0 0 I Individual retirement account Private Placement Warrants (right to buy) 11.5 2022-03-03 4 M 0 124405 0 D 2021-12-07 2022-03-07 Class A Common Stock 124405.0 90476 D Private Placement Warrants (right to buy) 11.5 2022-03-04 4 M 0 90476 0 D 2021-12-07 2022-03-07 Class A Common Stock 90476.0 0 D Reflects cashless exercise of warrants in connection with the Issuer's redemption of all outstanding and unexercised public and private placement warrants at 5:00 pm New York City time on 3/7/2022 (the "Redemption Date") for a redemption price of $0.10 per warrant, in accordance with the Warrant Agreement dated 12/2/2020 between the Issuer (fka Live Oak Acquisition Corp. II) and Continental Stock Transfer & Trust Company (the "Warrant Agreement"). Pursuant to the Warrant Agreement, each warrant was exercisable, before the Redemption Date only, for one share of common stock for $11.50 per share in cash or on a cashless basis. In accordance with SEC requirements, the cashless exercise is reported on two rows of Table I: the row that includes this note 1, which sets forth the gross number of shares subject to the warrant, and the subsequent row that includes note 4, which reflects the number of shares deemed surrendered in lieu of payment of the exercise price. See also notes 2 and 4. Since shares were acquired on a net basis, this entry is provided only to satisfy the requirements of Form 4 (except, if note 7 also applies, to the extent figure reflects previously reported shares described in note 7). As applicable based on the figure to which this note 2 pertains, (i) number of shares shown as "acquired" reflects gross number of shares subject to warrant upon exercise; (ii) number of shares shown as "disposed of" equals the difference between the gross number of shares subject to the warrant and the net number issuable under the terms of the Warrant Agreement, as explained in note 4. For more information, see the Warrant Agreement filed as Exhibit 4.1 to the Issuer's current report on Form 8-K, filed with the SEC on 12/8/2020. In separate trusts for the benefit of the reporting person's immediate family members. The number of net shares issuable, and thus the number of shares deemed "disposed of" upon cashless exercise of the warrants, was determined by the Issuer pursuant to Sections 3.3.1 and 6.2 of the Warrant Agreement. Accordingly, on 2/22/2022, the Issuer announced that warrant holders who exercise warrants on a cashless basis prior to the Redemption Date would receive 0.261 shares of common stock per warrant exercised (rounded down to the nearest whole share). See the Issuer's current reports on Form 8-K, filed with the SEC on 2/4/2022 and 2/22/2022. The related disposition of shares, in addition to being provided for in the Warrant Agreement, was exempted from Section 16(b) of the Exchange Act, pursuant to Rule 16b-3(e) thereunder, by resolution of the board of directors of the Issuer prior to such disposition. In trust for the benefit of the reporting person. Reflects exercise by the reporting person of private placement warrants previously reported as held directly by Live Oak Sponsor Partners II, LLC and beneficially owned indirectly by the reporting person by virtue of his pecuniary interest therein. In addition to shares acquired or deemed acquired upon the cashless exercise of private placement warrants reported on this form, the reported number of shares includes (i) 12,750 shares previously reported as held directly by Live Oak GaN Partners LLC (of which the reporting person is a managing member) and beneficially owned indirectly by the reporting person by virtue of his pecuniary interest therein; and (ii) 10,463 previously reported shares underlying restricted stock units that vest in full on 10/19/2022. The reporting person is a managing member of Live Oak Sponsor Partners II, LLC. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. /s/ Gary K. Wunderlich, Jr. 2023-01-04