Amtech Systems, Inc. Announces Pricing of Common Stock Offering
Amtech Systems, Inc. (Nasdaq:ASYS), a global supplier of production and automation systems and related suppliers for the solar cell, semiconductor, silicon wafer and microelectromechanical (MEMS) industries, today announced that it has entered into an agreement to sell 2,500,000 shares of its common stock in an underwritten public offering at a price to the public of $14.41 per share. Amtech has also granted the underwriters a 30-day option to purchase up to 375,000 additional shares of common stock to cover over-allotments, if any.
Net proceeds to Amtech from the sale of its common stock will be approximately $33.6 million, or $38.5 million if the full over-allotment option is exercised by the underwriters, after deducting underwriting discounts and commissions and estimated offering expenses payable by Amtech. Amtech intends to use the net proceeds from this offering for working capital and other general corporate purposes, including for possible future product or business acquisitions in connection with the planned expansion of its solar and semiconductor businesses. The offering is expected to close on November 21, 2007.
Registration statements on Form S-1 relating to these securities have been filed with, and declared effective by, the Securities and Exchange Commission. Collins Stewart LLC, Oppenheimer & Co. Inc. and Broadpoint Capital, Inc. have acted as underwriters for the offering. The public offering is being made solely by means of a prospectus, copies of which may be obtained by contacting Collins Stewart LLC, 350 Madison Avenue, New York, NY 10017, or at the Securities and Exchange Commission's web site at www.sec.gov.
About Amtech Systems, Inc.
Amtech manufactures capital equipment, including silicon wafer handling automation, thermal semiconductor processing equipment and related consumables used in fabricating solar cells and semiconductor devices. Semiconductors, or semiconductor chips, are fabricated on silicon wafer substrates, sliced from ingots, and are part of the circuitry, or electronic components, of many products including computers, telecommunications devices, automotive products, consumer goods, and industrial automation and control systems. Amtech's semiconductor handling, thermal processing and consumable products currently address the polishing of newly sliced silicon wafers and reclaimed test wafers and the oxidation and deposition steps used in the fabrication of solar cells, semiconductors, and MEMS.
Source: Amtech Systems, Inc.
