ACM Research Announces Proposed Public Offering of Class A Common Stock
August 13 2019 - 4:11PM
ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a provider of
single-wafer wet cleaning equipment used by manufacturers of
advanced semiconductors, announced today that it intends to offer
and sell $30 million of shares of its Class A common stock in an
underwritten public offering. ACM expects to grant the underwriters
a 30‑day option to purchase up to $4.5 million of additional shares
of Class A common stock. All of the shares are to be sold by ACM.
The offering is subject to market and other conditions, and there
can be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering.
ACM intends to use the net proceeds from the
offering for working capital and other general corporate purposes,
except that ACM will use net proceeds from any sale of shares
pursuant to an exercise of the underwriters’ option to repurchase
and retire shares of Class A common stock from certain of
ACM’s directors and officers (and an affiliate of an officer) at a
price per share equal to the net proceeds per share received by ACM
in the offering.
Stifel and Needham & Company are acting as
joint book-running managers for the offering.
A shelf registration statement on Form S-3 (No.
333-228734) relating to the shares of Class A common stock proposed
to be issued in the offering was filed with the U.S. Securities and
Exchange Commission (the “SEC”) and is effective. A preliminary
prospectus supplement and accompanying base prospectus relating to
the offering will be filed with the SEC and will be available on
the SEC’s website at www.sec.gov. Copies of the preliminary
prospectus supplement and accompanying base prospectus may also be
obtained, when available, from Stifel, Nicolaus & Company,
Incorporated, Attention: Syndicate, One Montgomery Street, Suite
3700, San Francisco, California 94104, by telephone at 415-364-2720
or by email at syndprospectus@stifel.com or from Needham &
Company, LLC, Attention: Syndicate Prospectus Department, 250 Park
Avenue, 10th Floor, New York, New York 10177, by telephone at
800-903-3268, or by email at prospectus@needhamco.com.
This press release does not constitute an offer
to sell or a solicitation of an offer to buy the securities
described in this release, nor shall there be any sale of these
securities in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or other
jurisdiction.
About ACM Research,
Inc.
ACM develops, manufactures and sells
single-wafer wet cleaning equipment, which semiconductor
manufacturers can use in numerous manufacturing steps to remove
particles, contaminants and other random defects, and thereby
improve product yield, in fabricating advanced integrated
circuits.
Forward-Looking Statements
This press release contains "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995 regarding the proposed public offering and the
intended use of proceeds from the offering. These forward-looking
statements are subject to risks and uncertainties that may cause
actual results to differ materially, including market conditions,
risks associated with the cash requirements of ACM’s business and
other risks detailed from time to time in ACM’s filings with the
SEC. The offering is subject to market and other conditions, and
there can be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering. The
forward-looking statements represent ACM’s views only as of the
date they are made and should not be relied upon as representing
ACM’s views as of any subsequent date. ACM does not assume any
obligation to update any forward-looking statements.
The ACM logo is a trademark of ACM Research,
Inc. All rights reserved.
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Contact: |
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The Blueshirt Group |
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Ralph Fong |
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+1 (415) 489-2195 |
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ralph@blueshirtgroup.com |
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