Ams AG's Rights Issue Exercise Period Completed
March 31 2020 - 12:34PM
Dow Jones News
By Mauro Orru
Ams AG said Tuesday that the exercise period for its rights
issue reached completion on March 30, with a 62% take-up of the
offered shares.
The Austrian sensor maker, which is listed in Switzerland, said
subscription rights for 117,451,512 new shares were exercised by
March 30, representing 62% of the total 189,869,454 shares offered
to existing shareholders at a price of CHF9.20 ($9.61) a share.
The announcement comes nearly two months after an extraordinary
general meeting backed the rights issue through which Ams will
receive gross proceeds of about CHF1.75 billion through which it
will partially refinance the acquisition of Osram Licht AG.
Ams launched a new offer through its subsidiary Ams Offer GmbH
in November 2019 at 41 euros ($45.33) a share to take over the
lighting-technology company, lowering the minimum acceptance
threshold to 55%, which was reached in early January 2020.
A previous offer failed as a 62.5% threshold was not
reached.
Ams added that it expects the listing and first day of trading
of the new shares to take place on the SIX Swiss Exchange on or
around April 3, noting the closing of the rights issue will need to
shift by one day due to the closure on some weekdays of courts in
Austria because of the coronavirus pandemic.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
March 31, 2020 12:19 ET (16:19 GMT)
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