On November 7, ACM Research (NASDAQ: ACMR) announced the successful closing of its initial public offering (IPO). The company sold 2,000,000 shares of its Class A common stock at a price of $5.60 per share. Shares of the company’s stock began trading on the Nasdaq Global Market stock exchange on November 3 under the symbol “ACMR.” Roth Capital Partners acted as sole book-running manager for the IPO. The company has granted the underwriters a 30-day option to purchase up to 300,000 additional shares of Class A common stock at the IPO price, less underwriting discounts and commissions. Additionally, the company closed its concurrent private placement of 833,334 shares of Class A common stock to Xinxin (Hongkong) Capital Co., Limited, a subsidiary of Sino IC Capital Co., Ltd., and 500,000 shares of Class A common stock to Victorious Way Limited at a price per share equal to $5.60. Before deducting underwriting discounts and commissions, placement fees and offering expenses, the total gross proceeds to ACM Research raised through the IPO and private placement totaled approximately $18.7 million.
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About ACM Research, Inc.
ACM Research Inc. develops, manufactures and sells single-wafer wet cleaning equipment, which semiconductor manufacturers can use in numerous manufacturing steps to remove particles, contaminants and other random defects, and thereby improve product yield, in fabricating advanced integrated circuits. For more information, visit www.acmrcsh.com.
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