Transphorm to Commence Trading on OTC Market Under Symbol “TGAN”

GOLETA, Calif.–(BUSINESS WIRE)–#AECQ101—Transphorm, Inc. (“Transphorm” or the “Company”) (OTCQB: TGAN)—a pioneer in the development and manufacturing of high reliability, high performance gallium nitride (GaN) power semiconductors—today announced the Company received approval from FINRA for its common stock to be listed and quoted on the Over-the-Counter (OTC) market. Transphorm will trade on the OTCQB under the symbol “TGAN” as of market open today.

Transphorm’s co-founders, Umesh Mishra, Ph.D., CTO, and Primit Parikh, Ph.D., COO, commented, “We and our entire worldwide team are extremely proud to have Transphorm be publicly listed and commence trading, marking an important milestone in the Company’s evolution. The listing of our common stock provides both existing and prospective investors with direct access to invest in Transphorm and participate in our future anticipated growth as we continue to scale Transphorm’s high-voltage GaN products for power conversion applications across our growing base of customers.”

Transphorm’s broad product portfolio is comprised of both 650 volt and 900 volt GaN FETs for high-voltage power conversion applications ranging from 30 watts to over 10 kilowatts, including the industry’s first JEDEC (commercial/industrial) and AEC-Q101 (automotive) qualified 650 volt devices and the only 900 volt GaN device on the market. With an IP portfolio that exceeds 1,000 patents, the Company’s best-in-class products offer the industry’s leading quality and reliability (Q+R) backed by field performance of less than 1 failure per billion hours of operation spanning across 65 watt (adapters/fast chargers) products to 4 kilowatt (power supplies/UPS) products. The Company’s AEC-qualified devices are currently being evaluated by electric vehicle power conversion suppliers and design partners for design-in on future automotive applications. Today, Transphorm is actively ramping volume production in support of the growing adoption of its GaN power FETs, targeting power adapter, computing, uninterruptible power supply (UPS), data center and communications infrastructure applications.

Transphorm is pleased to acknowledge that B. Riley FBR served as the Company’s capital markets advisor through the quotation process. B. Riley FBR is the operating name for B. Riley Securities, Inc., a full-service investment bank and subsidiary of B. Riley Financial, Inc., is based in Los Angeles with offices across the United States, providing corporate finance, research, sales and trading services.

Additionally, the Company will be hosting a Business Update Conference Call in late August. The conference call will be conducted by Transphorm’s CEO, Mario Rivas, co-founder and COO, Primit Parikh, Ph.D. and CFO, Cameron McAulay. Access information for the live and archived replay of the conference call will be made available in advance via press release and also posted in the Investor Relations Events section of Transphorm’s website at www.transphormusa.com/investors.

About Transphorm, Inc.

Transphorm, Inc. (www.transphormusa.com), a global leader in the GaN revolution, designs and manufactures high performance and high reliability GaN semiconductors for high voltage power conversion applications. Having one of the largest Power GaN IP portfolios of more than 1,000 owned or licensed patents, Transphorm produces the industry’s first JEDEC and AEC-Q101 qualified high voltage GaN FETs. Its vertically integrated device business model allows for innovation at every development stage: design, fabrication, device, and application support. Transphorm’s innovations are moving power electronics beyond the limitations of silicon to achieve over 99% efficiency, 40% more power density and 20% lower system cost. Transphorm is headquartered in Goleta, California and has manufacturing operations in Goleta and Aizu, Japan. For more information, please visit www.transphormusa.com. Follow us on Twitter @transphormusa.

Forward-Looking Statements

This press release contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning the Company, expected listing and trading on OTCQB, the Company’s technology and future anticipated growth. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “plan,” “believe,” “intend,” “look forward,” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: risks related to Transphorm’s operations, such as additional financing requirements and access to capital; competition; the ability of Transphorm to protect its intellectual property rights; and other risks set forth in the Company’s filings with the Securities and Exchange Commission. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts

Investor Contacts:
Shelton Group

Brett Perry | Leanne Sievers

1-214-272-0070 | 1-949-224-3874

sheltonir@sheltongroup.com

Company Contact:
Cameron McAulay

Chief Financial Officer

1-805-456-1300 ext. 140

cmcaulay@transphormusa.com