ACM Research announces offering of $30M of Class A common stock
ACM Research announced that it intends to offer and sell $30M of shares of its Class A common stock in an underwritten public offering. ACM expects to grant the underwriters a 30-day option to purchase up to $4.5 million of additional shares of Class A common stock. ACM intends to use the net proceeds from the offering for working capital and other general corporate purposes, except that ACM will use net proceeds from any sale of shares pursuant to an exercise of the underwriters' option to repurchase and retire shares of Class A common stock from certain of ACM's directors and officers at a price per share equal to the net proceeds per share received by ACM in the offering. Stifel and Needham & Company are acting as joint book-running managers for the offering.