ACM Research Enters Securities Purchase Agreement, Issues 2.88M Shares
In a regulatory filing, ACM Research disclosed that it entered into a securities purchase agreement with certain U.S. institutional investors managed by Tekne Capital Management. The company agreed to issue and sell to the investors in a registered direct offering an aggregate of 2.88M shares of Class A common stock at an offering price of $52.00 per share. The closing of the offering is expected to occur on or about May 15, subject to the satisfaction of customary closing conditions. The company expects to receive net proceeds from the offering of approximately $149.85M, after deducting estimated offering expenses payable by the company. The company intends to use the net proceeds from the offering, together with its existing cash and cash equivalents, for U.S. and global expansion, as well as general corporate purposes.
