Amtech Systems, Inc. (NASDAQ:ASYS) Files An 8-K Regulation FD DisclosureItem 7.01
As previously disclosed and announced, on August18, 2017, Amtech Systems, Inc. (the “Company”) entered into an Underwriting Agreement with Roth Capital Partners, LLC, as underwriter (the “Underwriter”), relating to a firm commitment underwritten offering (the “Offering”) of 1,055,000 shares of the Company’s common stock, par value $0.01 per share, at a price of $9.50 per share, and granted the Underwriter an option to purchase up to 158,250 additional shares (the “Over-Allotment Option”) of the Company’s common stock to cover over-allotments, if any.
On August23, 2017, the Company and the Underwriter closed the Offering and the Underwriter exercised its Over-Allotment Option at the closing. As a result, the Company issued a total of 1,213,250 shares of the Company’s common stock at a price of $9.50 per share. After the underwriting discount and estimated offering expenses payable by the Company, the Company expects to receive net proceeds of approximately $10.7million from the Offering. The Company plans to use the net proceeds of the Offering for general corporate purposes, which may include working capital, capital expenditures, and potential acquisitions.
The information contained in this Item 7.01 is furnished to Item 7.01 of Form 8-K and shall not be incorporated by reference into any filing of the Registrant, whether made before or after the date hereof, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing. The information in this Current Report, including the accompanying exhibits, shall not be deemed to be “filed” for purposes of Section18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended.
The information contained in Item 7.01 above is incorporated herein by reference.
About Amtech Systems, Inc. (NASDAQ:ASYS)
Amtech Systems, Inc. is engaged in the manufacture of capital equipment, including thermal processing, silicon wafer handling automation and related consumables used in fabricating solar cells, Light Emitting Diode (LED) and semiconductor devices. The Company operates through three business segments: solar, semiconductor and polishing. The solar segment supplies thermal processing systems, including diffusion; plasma-enhanced chemical vapor deposition (PECVD); atomic layer deposition (ALD), and related automation, parts and services to the solar/photovoltaic industry. The semiconductor segment supplies thermal processing equipment, including solder reflow equipment and related controls for use by the semiconductor manufacturers and in electronics assembly for automotive and other industries. The polishing supplies segment produces consumables and machinery for lapping (fine abrading) and polishing of materials, such as sapphire substrates and optical components.
