10% owner KKR Phorm sold 24.41M shares (100% stake) at $5.10 totaling $124.5M; unprofitable company with -31.4% revenue decline
KKR Phorm Investors L.P. completely exited its 24,411,968 share position in Transphorm on June 20, 2024, liquidating its entire 10% ownership stake at $5.10 per share for $124,501,036.80. This full exit is significant given that Transphorm is struggling operationally: the company generated only $4.7M in latest-quarter revenue, posted a $-10.0M net loss, and experienced -31.4% annual revenue contraction while maintaining negative full-year net income. The sale occurred precisely at the 52-week high of $5.10, matching the upper bound of the $1.98–$5.10 range, which provides context on price momentum but does not constitute timing insight given the transaction's scheduled nature relative to market conditions. The complete liquidation of a major institutional investor's position deserves monitoring alongside the company's ongoing operational headwinds.