SCHEDULE: Capricorn-Libra Reduces Navitas Semiconductor Stake

Capricorn-Libra Investment Group and affiliates have further reduced their beneficial ownership in Navitas Semiconductor Corporation, now holding 3.5% of Class A Common Stock.

Summary

• Capricorn-Libra Investment Group, LP, Technology Impact Fund, LP, and Dipender Saluja (collectively, the "Reporting Persons") filed an Amendment No. 1 to their Schedule 13D regarding their beneficial ownership in Navitas Semiconductor Corporation.
• The Reporting Persons collectively beneficially own 8,073,391 shares of Class A Common Stock, representing 3.5% of the outstanding shares.
• This percentage is based on 230,496,182 shares of Class A common stock outstanding as of November 14, 2025.
• Capricorn-Libra Investment Group, LP sold 315,396 shares of Class A common stock on December 12, 2025, at a weighted-average price of $8.65 per share.
• Capricorn-Libra Investment Group, LP further sold 873,488 shares of Class A common stock on December 15, 2025, at a weighted-average price of $8.10 per share.
• The Reporting Persons ceased to be beneficial owners of more than 5% of the Class A common stock on or before September 30, 2024, primarily due to dilution from the Issuer's issuance of additional shares, prior to the recent sales.

Sentiment

Score: 3

Explanation: The filing indicates a significant reduction in beneficial ownership by a key institutional investor, which can be interpreted as a negative signal regarding the investor's long-term conviction in the company or a strategic reallocation of capital away from Navitas Semiconductor.

Negatives

• Significant reduction in beneficial ownership by a major investment group.
• Capricorn-Libra Investment Group, LP sold a total of 1,188,884 shares of Class A common stock in December 2025.
• The sales occurred at weighted-average prices of $8.65 and $8.10 per share, indicating a willingness to sell at these price points.
• The Reporting Persons' aggregate beneficial ownership has fallen to 3.5%, signaling a decreased conviction or reallocation of capital.

Industry Context

This filing primarily concerns a change in beneficial ownership by an institutional investor and does not directly provide insights into broader industry trends or competitive landscape for Navitas Semiconductor. However, a significant reduction in stake by a major investor could indirectly reflect a shift in sentiment towards the semiconductor sector or the company specifically.

Stakeholder Impact

• Shareholders: May interpret the reduction in stake by a significant investor as a negative signal, potentially leading to downward pressure on the stock price.
• Company Management: Could face questions regarding investor confidence and the reasons behind the institutional selling.

Key Dates

Recommendation

The substantial reduction in beneficial ownership by Capricorn-Libra Investment Group and its affiliates, including significant open market sales, suggests a lack of conviction or a strategic exit from a portion of their position in Navitas Semiconductor. While the initial reduction below 5% was attributed to dilution, the subsequent active sales at specific price points indicate a deliberate decision to decrease exposure. This action by a sophisticated institutional investor could signal potential concerns about future performance or valuation, making a 'Sell' recommendation prudent for investors considering the implications of such a divestment.

Keywords

Navitas Semiconductor, NVTS, Schedule 13D/A, beneficial ownership, stock sales, institutional investor, Capricorn Investment Group, Technology Impact Fund, semiconductor, Class A Common Stock