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TRANSPHORM, INC. – The Pioneer and Leading Provider of Gallium Nitride (GaN) Power Conversion Devices with Best-in-Class Reliability

  • Recent uplist to NASDAQ increases visibility – Transphorm uplisted in February of 2022, giving its stock greater visibility and volume.
  • Superior product w/ multi-market potential – When compared to traditional silicon, GaN’s intrinsic ability to switch at high speed (~4x faster) with high power efficiency results in power conversion systems that could have approximately 40% higher power density, approximately 20% lower system cost, with ultra-low loss and 99% efficiency (unable to be matched by silicon), making it ideal for high-voltage applications.
  • Q3 revenue up 129% – This increase marks its 8th consecutive quarter of record product revenue, while demonstrating a key capability benchmark of shipping over 1 million adapter GaN products in December 2021.


Transphorm, Inc. (NASDAQ: TGAN) is a global semiconductor manufacturer and technology pioneer in Gallium Nitride (GaN) power transistors for high-voltage power conversion applications. Their GaN technology allows for smaller, more efficient semiconductors that can operate at high voltages well in excess of 650V and at faster speeds than traditional silicon devices.

Current Analyst Coverage: B. Riley FBR, Inc., Craig-Hallum Capital Group and Loop Capital Markets

Link to the Company’s most recent investor deck: HERE

Link to watch Transphorm management’s recent Fiscal Third Quarter 2022 Financial Results Webcast: HERE

Transphorm has raised over $50 million of equity since October 1, 2021 through a combination of strategic investments, institutional private placements and debt conversions. Cash and equivalents as of December 31, 2021 was $41.0 million.

As of the past two quarters to date, over $300 million has been invested in Transphorm.

$3.5 Billion Addressable Market – The total addressable markets for GaN targets are expected to grow to $3.5 billion by 2024 and has a potential of over $9 billion after 2025, which would include the impact of GaN in the Electric Vehicle Powertrain as approximately 30M electric vehicles are expected to be sold in 2025. The megatrend GaN markets of 5G smartphone power adapters and 5G RF alone today represent $1.3B+ of that addressable market.

Industry’s Strongest GaN IP Position – Transphorm has established a leadership position in GaN power conversion IP with over 1,000 issued and pending patents, the largest patent portfolio among all semiconductor companies in the GaN power field, having been valued at more than $200 million. A report by Know-Made called it “the dream patent portfolio for all those who want to benefit from strategic advantages in (the) GaN power electronics market…”

Large Stock Ownership by Strategic Partners – According to SEC filings, strategic investors collectively owned approximately 40 million shares of Transphorm common stock. Notable shareholders include:
– Kohlberg Kravis Roberts & Co (KKR) ~ 23 million shares (approx. 43% of shares outstanding)
– Nexperia ~ 4 million shares
– Yaskawa Electric Corp. ~ 3.1 million shares 

– SAS Capital ~ 3 million shares
– Fujitsu Semiconductor Ltd. ~ 3 million shares
– INCJ, Ltd. ~ 1 million shares
– Marelli Corp. ~ 1 million shares

Ramp of Volume Shipments – In the Company’s third quarter fiscal 2022 ended December 31, 2021, product revenue increased sequentially for the eighth consecutive quarter and grew 220% year-over-year to a quarterly record of $3.6 million. Moreover, the Company meet a previously announced by shipping over 1,000,000 SuperGaN® Gen IV FETs for 45 W to 300 W power adapter and fast charger applications in the month of December 2021.

Recently Uplisted to Nasdaq – Shares of Transphorm were uplisted to NASDAQ on February 22 under the ticker TGAN. This 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 its stock.

Disrupting Massive Markets


What Exactly is GaN? 

For generations, silicon has been the power electronics industry’s most commonly used power conversion semiconductor material. However, Gallium Nitride (GaN) is quickly replacing silicon as the preferred semiconductor. It runs cooler and more efficiently, allowing the end power systems to be lighter, smaller, and more cost-effective for the system manufacturers.

When compared to traditional silicon, GaN’s intrinsic ability to switch at high speed (~4x faster) with high power efficiency results in power conversion systems that could have approximately 40% higher power density, approximately 20% lower system cost, with ultra-low loss and 99% efficiency (unable to be matched by silicon), making it ideal for high-voltage applications.



Smaller, Faster, and More Reliable


Massive Market Applications

Transphorm’s products are transforming multiple industries by creating greater power efficiencies. We’re seeing especially attractive opportunities in the Electric Vehicle, 5G Smartphone/Laptop/IoT Power Adapters, Data Center, Crypto Mining markets, and Renewables/Industrial markets.

Electric Vehicles – Transphorm’s GaN devices have big implications in the electric vehicle market, which is expected to grow at a CAGR of 21% through 2030. Its devices increase power efficiencies, enabling new design possibilities which can lead to smaller cooler systems and more aerodynamic and/or lighter cars with faster charging and extended driving range.



Smartphone/Laptop/IoT Chargers   In-box and aftermarket charging devices are high-volume products, and Transphorm has a pipeline of 20+ designs for various smartphone/tablet applications. 5G devices are power hungry, requiring 65 Watts for fast charging. Transphorm’s devices support that requirement and are already designed into 65W adapters. The Transphorm devices perform better than the competition, resulting in smaller, lighter and faster-charging solutions. All of this adds up to a superior product offering in a growing market.



Data Centers and Crypto This is a big one as it relates to mission critical applications. Data centers and crypto mining operations require a ton of power. The computers used to solve complex equations and store streaming data also generate massive amounts of heat. These two factors contribute to 40% of total operational costs. By adopting Transphorm’s GaN technology, these computers can perform at the same capacity, while reducing energy consumption and heat generation. Ultimately this reduces the operating costs of data centers and crypto mining. Crypto mining alone is expected to grow by more than $2 billion dollars by 2024, and any product that can help cut costs and increase efficiencies is going to be a hot commodity.


More than 13 billion hours of in-field performance data has been collected on Transphorm’s devices. Less than 0.5 device failures per billion hours reported to date.

Press Releases/News



Transphorm is led by world-renowned GaN experts including over 18 PhDs and over 300 years of GaN experience.

Mario Rivas


Mario leads all functional areas of Transphorm and brings over 30 years of executive level leadership to the company. Prior to joining Transphorm, Mario was president and CEO of the semiconductor company ANADIGICS. Before ANADIGICS, he was the CEO of Quartics, a fabless semiconductor and software company. Mario has also held executive positions at AMD, Philips Semiconductor, and Motorola. Mario earned a B.S. in Electrical Engineering from the Universidad Centroamericana “José Simeón Cañas” as well as a M.S. in Semiconductor Physics and M.S. in Management from Rensselaer Polytechnic Institute.


Primit Parikh, Ph.D.

Co-Founder, President & COO

Primit co-leads overall strategy at Transphorm. He is also responsible for P&L, key customer relationships and products, engineering and manufacturing. Primit has over 10 years experience in business area leadership and over 15 years in GaN / semiconductor development, technical marketing and intellectual property. Prior to Transphorm, Primit led GaN electronics at Nitres Inc. through its acquisition by Cree, where he served as head of Advanced Technology at Cree SBTC in charge of GaN development and government business. Primit received his B.Tech. in EE from IIT, Mumbai and his Ph.D. in ECE from UCSB. He has more than 30 patents awarded/pending in the area of GaN materials, devices and circuits, and has co-authored more than 70 publications and presentations.



Cameron McAulay


As Chief Financial Officer, Cameron is responsible for overseeing all financial aspects of the company. Prior to joining Transphorm, he served as Finance Director, Global Customer Organization and Director of Internal Audit with KLA-Tencor Corporation. He also served as Finance Director and Group Financial Controller at Atmel Corporation and had a 7 year tenure at National Semiconductor Corporation in a variety of Operational and Corporate leadership positions including Chief Audit Executive. He holds a BSc. Mathematics, Statistics and Accountancy from Strathclyde University and is a member of the Chartered Accountants of Scotland.




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As a result, investors who purchase during the Campaign and hold shares of the Profiled Issuer when the Campaign ends will probably lose most, if not all, of their investment. Why do we publish only favorable Information? We only publish favorable information because we are compensated to publish only favorable information. Why don’t we publish negative Information? We don’t publish negative information because we are not paid to publish negative information. We are paid to publish only favorable information. Is the Information complete, accurate, truthful or reliable? No. The Information is a snapshot that provides only positive information about the Profiled Issuers. The Information consists of only positive content. We do not and will not publish any negative information about the Profiled Issuers; accordingly, investors should consider the Information to be one-sided and not balanced, complete, accurate, truthful or reliable. What we do not do? 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Who is responsible if an investor relies on the Information? The investor. We are not responsible or liable for any person’s use of the Information or any success or failure that is directly or indirectly related to such person’s use of the Information because we have specifically stated that the information is not reliable and should not be relied upon for any purpose. We are not responsible for omissions or errors in the Information, and we are not responsible for actions taken by any person who relies upon the Information. What do we urge potential investors to do? We urge Investors to conduct their own in-depth investigation of the Profiled Issuers with the assistance of their legal, tax and investment advisers. An investor’s review of the Information should include but not be limited to the Profiled Issuer’s financial condition, operations, management, products or services, trends in the industry and risks that may be material to the profiled Issuer’s business and other information he and his advisers deem material to an investment decision. An investor’s review should include, but not be limited to a review of available public sources and information received directly from the Profiled Issuers or from websites such as Google, OTC Markets, NASDAQ, NYSE, or other available public sources. Why is this Disclaimer being provided? We are providing you with this disclaimer because we are publishing advertisements about penny stocks. Because we are paid to disseminate the Information to the public about securities, we are required by the securities laws including Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 thereunder, and Section 17(b) of the Securities Act of 1933, as amended (the “Securities Act”), to specifically disclose our compensation as well as other important information, This information includes that we may hold, as well as purchase and sell, the securities of a Profiled Issuer before, during and after we publish favorable Information about the Profiled Issuer. We may urge investors to purchase the securities of a Profiled Issuer while we sell our own shares. The anti-fraud provisions of federal and state securities laws require us to inform you that we may engage in buying and selling of Profiled Issuer’s securities before, during and after the Campaigns. What are other risks that investors should be aware of? Any investment in the Profiled Issuers involves a high degree of risk and uncertainty. The securities may be subject to extreme volume and price volatility, especially during the Campaigns. Favorable past performance of a Profiled Issuer does not guarantee future results. If you purchase the securities of the Profiled Issuers, you should be prepared to lose your entire investment. Some of the risks involved in purchasing securities of the Profiled Issuers include, but are not limited to the risks stated below.
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If a Profiled Issuer is an SEC reporting company, it could be delinquent (not current) in its periodic reporting obligations (i.e., in its quarterly and annual reports), or if it is an OTC Markets Pink Sheet quoted company, it may be delinquent in its Pink Sheet reporting obligations, which may result in OTC Markets posting a negative legend pertaining to the Profiled Issuer at, as follows: (i) “Limited Information” for companies with financial reporting problems, economic distress, or that are unwilling to file required reports with the Pink Sheets; (ii) “No Information,” which characterizes companies that are unable or unwilling to provide any disclosure to the public markets, to the SEC or the Pink Sheets; and (iii) “Caveat Emptor,” signifying buyers should be aware that there is a public interest concern associated with a company’s illegal spam campaign, questionable stock promotion, known investigation of a company’s fraudulent activity or its insiders, regulatory suspensions or disruptive corporate actions. If the Information states that a Profiled Issuer’s securities are consistent with the future economic trends or even if your independent research indicates that, you should be aware that economic trends have their own limitations, including: (a) that economic trends or predictions may be speculative; (b) consumers, producers, investors, borrowers, lenders and government may react in unforeseen ways and be affected by behavioral biases that we are unable to predict; (c) human and social factors may outweigh future economic trends that we state may or will occur; (d) clear cut economic predictions have their limitations in that they do not account for the fundamental uncertainty in economic life, as well as ordinary life; (e) economic trends may be disrupted by sudden jumps, disruptions or other factors that are not accounted for in economic trends analysis; in other words, past or present data predicting future economic trends may become irrelevant in light of new circumstances and situations in which uncertainty becomes reality rather than predicted economic outcome; or (f) if the trend predicted involves a single result, it ignores other scenarios that may be crucial to make a decision in the event of unknown contingencies. The Information is presented only as a brief snapshot of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities. You should consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at, or other electronic media, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the; (c) obtaining and reviewing publicly available information contained in commonly known search engines such as Google; and (d) consulting investment guides at and You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and the OTC Markets and/or have negative legends and designations at What we were paid to advertise the Profiled Issuers. The details of our compensation and the period of the Campaign is set forth below.
  • Name of Issuer & Ticker Symbol - Transphorm (TGAN)
  • Amount & Form of Compensation - $500,000 in Common Stock
  • Who Paid for the Campaign & Position with Company if any - Transphorm (TGAN)
  • Period of Campaign - 5/10/2021 - 5/10/2022
What securities of the Profiled Issuers do we hold? The positions we hold of the Profiled Issuer are set forth below. We plan to sell these securities during the Campaign.
  • Name of Issuer & Ticker Symbol - Transphorm (TGAN)
  • Number of Shares We or our Affiliates Hold - 100,000
  • Price We Paid Per Share - $0
  • Date Issued - 4/21/2021

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