Amtech Systems Announces Proposed Public Offering of Approximately $34,000,000 of Common Stock
Includes Underwriter Over-allotment
TEMPE, Ariz.--(BUSINESS WIRE)--
Amtech Systems, Inc. (NASDAQ:ASYS), a global supplier of production and automation systems and related supplies for the manufacture of semiconductors, solar cells and wafers, today announced that it plans to offer an aggregate of approximately $34,000,000 of its common stock in an underwritten, registered public offering. The aggregate offering amount includes proceeds that may be received from the underwriters for the purchase of shares of common stock to cover over-allotments, if any. Amtech intends to use the proceeds from the offering for working capital and general corporate purposes.
The Company expects to file a registration statement relating to the common stock with the Securities and Exchange Commission within the next week, but there can be no assurance as to whether or when such registration statement will become effective. The shares of common stock may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. There can be no assurance that Amtech will complete the offering on the anticipated terms, or at all. Amtech's offering and its business are subject to risks described in the Company's filings with the Securities and Exchange Commission.
This disclosure does not constitute an offer to sell or the solicitation of an offer to buy any of Amtech's securities, nor will there be any sale of these securities by Amtech in any jurisdiction in which the offer, solicitation or sale would be unlawful.
About Amtech Systems, Inc.
Amtech Systems, Inc. manufactures capital equipment, including silicon wafer handling automation, thermal semiconductor processing equipment and related consumables used in fabricating semiconductor devices and solar cells. 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. The Company's semiconductor handling, thermal processing and consumable products currently address the diffusion, oxidation and deposition steps used in the fabrication of semiconductors, solar cells, MEMS and the polishing of newly sliced silicon wafers.
Statements contained in this press release that are not historical facts may be forward looking statements within the meaning of the Private Litigation Reform Act. Such statements may use words such as "proposed," "anticipate," "believe," "estimate," "expect," "intend," "predict," "project" and similar expressions as they relate to Amtech Systems, Inc. or our management. When we make forward-looking statements, we are basing them on our management's beliefs and assumptions, using information currently available to us. Although we believe that the expectations reflected in the forward looking statements are reasonable, these forward-looking statements are subject to risks, uncertainties and assumptions including the risks discussed in our filings with the Securities and Exchange Commission. If one or more of these risks materialize, or if our underlying assumptions prove to be incorrect, actual results may vary materially from what we projected. Any forward looking statements contained in this press release reflect our current views with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We have no intention, and disclaim any obligation, to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.
Source: Amtech Systems, Inc.
Released October 17, 2007