Amtech Systems closes $60 million public stock offering

Amtech Systems Inc. (NASDAQ: ASYS) completed a public offering of 2,926,829 shares of common stock at $20.50 per share, generating $60 million in gross proceeds before fees and expenses. The semiconductor equipment manufacturer closed the offering on June 3.

The offering was described as oversubscribed, with Titan Partners, a division of American Capital Partners, serving as the sole bookrunner. The company plans to use net proceeds to accelerate growth in its semiconductor packaging and wafer substrate fabrication platforms, pursue acquisition opportunities, and fund working capital and general corporate purposes.

Amtech manufactures equipment, consumables and services for semiconductor device packaging, wafer production and device fabrication. The company's products are used to fabricate and package semiconductor devices including graphics processing units for artificial intelligence applications, silicon carbide and silicon power devices, and other optical, analog and digital devices.

The offering was conducted under a shelf registration statement filed with the Securities and Exchange Commission on March 13 and declared effective on March 23. The company sells its products to semiconductor device packaging, electronic assembly and device fabrication companies worldwide, with particular focus on markets in Asia, North America and Europe.

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