Transphorm, Inc. announced the completion of the previously announced Merger pursuant to the Agreement and Plan of Merger, dated January 10, 2024 (the Merger Agreement), by and among Renesas Electronics America Inc. (Parent), Travis Merger Sub, Inc. (Merger Sub), Renesas Electronics Corporation (Guarantor), and Transphorm, Inc. (the Company or Transphorm). Pursuant to the Merger Agreement, at the Effective Time, Primit Parikh, Umesh Mishra, Eiji Yatagawa, Julian Humphreys, Katharina McFarland, Kelly Smales, and Cynthia (Cindi) Moreland, each of whom was a director of the company as of immediately prior to the Effective Time, ceased to be a director of the company and a member of any committee of the company?s board of directors. At the Effective Time, Sailesh Chittipeddi became the sole director of the company.

Immediately after the Effective Time, Umesh Mishra and Cameron McAulay, each of whom was an officer of the company as of immediately prior to the Effective Time, ceased serving in their respective corporate offices of the company.