Ultra Clean Holdings (UCTT) to Offer $175M in Common Stock
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Ultra Clean Holdings, Inc. (Nasdaq: UCTT) announced that it has commenced an underwritten public offering of $175.0 million of its common stock. All of the shares of common stock to be sold in the offering will be offered by the Company. In addition, the Company expects to grant the underwriters a 30-day option to purchase additional shares of Ultra Clean's common stock at the public offering price, less the underwriting discount. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
The Company intends to use the net proceeds from this offering for general corporate purposes, including working capital, sales and marketing activities, product development, general and administrative matters, and capital expenditures. The Company may use a portion of the net proceeds to acquire complementary businesses, products, services, or technologies, although it has no agreements, commitments, or plans for any specific acquisitions at this time.
Needham & Company is acting as sole book-running manager for the offering. D.A. Davidson & Co. and Craig-Hallum are acting as co-managers.
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