Transphorm to Uplist on Nasdaq
Trading under the ticker 'TGAN' expected to begin on February 22, 2022
GaN company Transphorm has announced that its common stock has been approved for listing on the Nasdaq Capital Market.
Trading on Nasdaq is expected to commence at the market open on February 22, 2022, and the shares will continue to trade under the ticker symbol TGAN. The company’s shares will continue to trade on the OTCQX until trading on Nasdaq commences.
Commenting on the announcement, Primit Parikh, president and co-founder of Transphorm, stated: “Our uplisting to Nasdaq is a significant milestone for Transphorm and is a testament to the dedication and hard work of the Transphorm team, as well as our strong cooperation with our valued customers and partners to build one of the leading GaN companies in the world. This uplisting should raise the visibility of Transphorm in the capital markets and allow for increased sponsorship from worldwide institutional investors as well as increased liquidity in the trading volume of our stock.”
Umesh Mishra, CTO and co-founder of Transphorm, commented, “This achievement and recognition represents a key benchmark for both GaN and Transphorm. With our world-leading innovations in GaN and robust IP portfolio of more than 1,000 patents, we are proud to be a world leader in GaN power conversion, which is the next large market for GaN since GaN LEDs and GaN RF transistors.”
The company recently announced that product revenue increased sequentially for an eighth consecutive quarter and grew 220 percent year-over-year to a quarterly record of $3.6 million and shipped over one million SuperGaN Gen IV FETs for 45 W to 300 W power adapter and fast charger applications in December 2021.