Transphorm Inc. Raises $21 Million and Completes Reverse Merger

Transphorm, Inc. (the “Company”) a pioneer in the development and manufacturing of high reliability-high performance gallium nitride (GaN) semiconductors for power conversion, announced today it raised $21.5 million in a private placement equity financing. Prior to the financing, Transphorm Technology, Inc. (“Transphorm”) completed a reverse merger with Peninsula Acquisition Corporation (“Peninsula”), a public Delaware corporation, whereby Transphorm became a wholly owned subsidiary of Peninsula