ACM Research Announces Exercise of Over-Allotment Option
August 23 2019 - 12:05PM
ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a provider of
single-wafer wet cleaning equipment used by manufacturers of
advanced semiconductors, announced that today the underwriters of
its previously announced public offering of Class A common
stock exercised, in full, their option to purchase 267,857
additional shares of Class A common stock at a public offering
price of $14.00 per share, for gross proceeds to ACM of
approximately $3.7 million.
ACM will use its net proceeds from the sale of
shares pursuant to the 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 from the exercise of the over-allotment option.
The option to purchase additional shares was
granted to the underwriters in connection with ACM’s underwritten
public offering, which closed on August 19, 2019. Stifel and
Needham & Company acted as joint book-running managers for the
offering, and Roth Capital Partners, Craig-Hallum Capital Group and
The Benchmark Company acted as co-managers.
A shelf registration statement on Form S-3 (No.
333-228734) relating to the shares of Class A common stock to be
issued in the offering was filed with the U.S. Securities and
Exchange Commission (the “SEC”) and is effective. A final
prospectus supplement and accompanying base prospectus relating to
the offering have been filed with the SEC and are available on the
SEC’s website at www.sec.gov. Copies of the final prospectus
supplement and accompanying base prospectus may also be obtained
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.
The ACM logo is a trademark of ACM Research,
Inc. All rights reserved.
Contact: The Blueshirt GroupRalph Fong+1
(415) 489-2195ralph@blueshirtgroup.com
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