Monday, August 3, 2020

Transphorm Hits Public Markets Via OTC

Goleta-based gallium nitride (GaN) power semiconductor developer Transphorm announced this morning that it has launched into the public markets, via the Over-The-Counter (OTC) market. Transphorm said it received from FINRA for its common stock to be listed and quoted on the Over-the-Counter (OTC) market, and will trade on the OTCQB under the symbolt TGAN, as of market open today. The move is somewhat unusual for a technology startup here, where the OTC market is mostly eyed with suspicion. Transphorm has previously taken funding from such investors as KKR, Kleiner Perkins Caufield and Byers, Foundation Capital, Google Ventures, Soros Quantum Strategic Partners, INCJ, and Fujitsu. It's unclear what the ownership of the market is now. Transphorm develops GaN FETs used for high voltage power conversion applications, such as power adapters, fast chargers, power supplies, uninterruptible power supply (UPS), and other applications.