Asyst to Receive $72.0 Million From Convertible Debt Offering.Business Editors/High-Tech Writers FREMONT, Calif.--(BUSINESS WIRE)--June 28, 2001 Asyst Technologies, Inc. (Nasdaq:ASYT) announced today that it has agreed to the private sale of a series of convertible subordinated notes due 2008 to qualified institutional buyers In law, a Qualified Institutional Buyer is a purchaser of securities that is financially sophisticated and is legally recognized by security market regulators to need less protection from sellers than most members of the public. . Asyst anticipates net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of approximately $72.0 million and intends to use those proceeds primarily for general corporate purposes, including working capital. The initial purchasers of the notes will also have a 30-day option to purchase additional notes to cover over-allotments, which, if exercised, would give Asyst additional net proceeds of up to approximately $10.9 million. The notes will be convertible at a price of $15.18 per share into approximately 4.94 million shares of Asyst common stock, plus approximately 740,000 shares if the over-allotment option is fully exercised. The notes will bear interest at 5.75% per year, payable semiannually sem·i·an·nu·al adj. Occurring or issued twice a year. sem  i·an and will be redeemable by Asyst at any time on or after
July 3, 2004. Asyst has agreed to file a registration statement for the
resale of the notes and the shares of the common stock issuable upon
conversion of the notes within 90 days after the closing of the
offering. The offering is scheduled to close on July 3, 2001.
The notes and the common stock issuable upon conversion have not been registered under the Securities Act of 1933, as amended or applicable state securities laws, and are being offered and sold in reliance on Rule 144A Rule 144A A Securities & Exchange Commission rule modifying a two-year holding period requirement on privately placed securities to permit qualified institutional buyers to trade these positions among themselves. under the Securities Act. Unless so registered, the notes and common stock issued upon conversion of the notes may not be offered or sold in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws. This announcement is neither an offer to sell nor a solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy any of these securities. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act of 1933, as amended. Except for statements of historical fact, the statements in this press release are forward-looking. Such statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include, but are not limited to: the volatility of semiconductor industry cycles, failure to respond to rapid demand shifts, dependence on a few significant customers, the transition of the industry from 200mm wafers to 300mm wafers, risks associated with the acceptance of new products and product capabilities, including our Plus Portal systems portal system: see circulatory system. , competition in the semiconductor equipment industry, failure to efficiently integrate acquired companies, failure to retain employees, and other factors more fully detailed in the Company's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended March 31, 2001 filed with the Securities and Exchange Commission on June 19, 2001. About Asyst Asyst Technologies, Inc. is a leading provider of integrated automation systems for the semiconductor manufacturing industry, which enable semiconductor manufacturers to increase their manufacturing productivity and protect their investment in silicon wafers during the manufacture of integrated circuits Integrated circuits Miniature electronic circuits produced within and upon a single semiconductor crystal, usually silicon. Integrated circuits range in complexity from simple logic circuits and amplifiers, about 1/20 in. (1. , or ICs. Through its "Value-Assured Fab" strategy, Asyst offers a broad range of 200mm and 300mm solutions that enable the safe transfer of wafers and information between the process equipment and the fab line throughout the IC fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. process, while reducing IC damage caused by human, environmental, mechanical and chemical factors. Encompassing isolation systems, work-in-process materials management Materials management is the branch of logistics that deals with the tangible components of a supply chain. Specifically, this covers the acquisition of spare parts and replacements, quality control of purchasing and ordering such parts, and the standards involved in ordering, , substrate-handling robotics, automated transport and loading systems, and connectivity automation software, Asyst's modular, interoperable solutions allow chipmakers and original equipment manufacturers, or OEMs, to select and employ the value-assured, hands-off manufacturing capabilities that best suit their needs. Asyst's homepage is http://www.asyst.com |
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