ACM Research Announces Approval of Proposed Listing of Shares of ACM Research (Shanghai) by the Listing Committee for the Sha...
October 01 2020 - 8:00AM
ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a leading supplier of
wafer cleaning technologies for advanced semiconductor devices,
today announced the approval of the proposed listing of shares of
ACM's principal operating subsidiary ACM Research (Shanghai), Inc.
(“ACM Shanghai”) by the Listing Committee for the Shanghai Stock
Exchange STAR Market.
In May 2020 ACM Shanghai submitted its application for an
initial public offering of its shares on the STAR Market. On
September 30, 2020, the application was approved by the Listing
Committee of the STAR Market. The STAR Market listing of ACM
Shanghai’s shares remains subject to submission of formal
registration and to review and approval by the China Securities
Regulatory Commission.
ACM’s President and Chief Executive Officer Dr. David Wang
commented, “This represents an important milestone for us, and we
are excited about the progress we are making towards the STAR
Market listing and related IPO. Our plan remains on track to price
the transaction by year-end, pending timely approvals. We expect to
use net proceeds of the STAR Market IPO to fund product development
in order to upgrade and expand our process equipment to more
advanced process nodes, to provide working capital for demo tools
to current and new customers globally, and to fund the land lease
and building construction for ACM Shanghai’s R&D and production
center in the Lingang region of Shanghai. We believe the STAR
Market listing combined with ACM’s current listing of Class A
common stock on Nasdaq will help accelerate our pace to become a
global player in the semiconductor equipment industry.”
About ACM Research, Inc.
ACM develops, manufactures and sells semiconductor process
equipment for single-wafer or batch wet cleaning, electroplating,
stress-free polishing and thermal processes that are critical to
advanced semiconductor device manufacturing, as well as wafer-level
packaging. The company is committed to delivering customized, high
performance, cost-effective process solutions that semiconductor
manufacturers can use in numerous manufacturing steps to improve
productivity and product yield.
Forward-Looking Statements
Statements contained in the third paragraph of this press
release include forward-looking for purposes of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995
with respect to the completion and timing of the proposed listing
and IPO of ACM Shanghai shares on the STAR Market; ACM Shanghai’s
use of the net proceeds, if any, of such IPO; and ACM’s
expectations with respect to the impact of the proposed STAR Market
listing on ACM’s position and success in the semiconductor
equipment industry. Forward-looking statements are based on ACM’s
current expectations and beliefs, and involve a number of risks and
uncertainties that are difficult to predict and that could cause
actual results to differ materially from those stated or implied by
the forward-looking statements, including without limitation: ACM
Shanghai’s ability to obtain remaining regulatory approval for the
STAR Market listing; volatile global economic, market, industry and
other conditions that could result in sharply lower demand for
products containing semiconductors and for ACM's tools and disrupt
capital markets, including the market for ACM Shanghai’s proposed
IPO; and trade regulations, currency fluctuations and political
instability that could materially adversely affect ACM due to its
substantial non-U.S. customer and supplier base and its substantial
non-U.S. manufacturing operations. Because forward-looking
statements involve risks and uncertainties, actual results and
events may differ materially from results and events currently
expected by ACM, and ACM assumes no obligation and expressly
disclaims any duty to update information contained in this press
release except as required by law.
© ACM Research, Inc. The ACM Research logo is a trademark of ACM
Research, Inc. For convenience, this trademark appears in this
press release without a ™ symbol, but that practice does not mean
that ACM Research will not assert, to the fullest extent under
applicable law, its rights to such trademark.
For investor and media inquiries, please
contact: |
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In the United States: |
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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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In China: |
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The Blueshirt Group Asia |
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Gary Dvorchak, CFA |
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+86 (138) 1079-1480 |
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gary@blueshirtgroup.com |
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