Axcelis Technologies, Inc. Prices Its Initial Public Offering.Business Editors BEVERLY, Mass.--(BUSINESS WIRE)--July 11, 2000 Axcelis Technologies, Inc. (NMS See NetWare Management System. :ACLS ACLS abbr. advanced cardiac life support ) today announced that its initial public offering of 15,500,000 shares of Common Stock has been priced at $22 per share. The Common Stock will begin trading on the Nasdaq National Market under the symbol "ACLS" on July 11, 2000. 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). to the company after underwriting discount and offering expenses are expected to be approximately $318 million and, together with available cash, will be used for the payment of a previously declared dividend declared dividend A dividend authorized by a firm's board of directors. At the time a dividend is declared, the firm creates a liability for the dividend's payment. to Eaton Corporation of $300 million and for general corporate purposes. Axcelis was formerly known as Eaton Corporation Semiconductor Equipment Operations. Eaton will continue to own more than 80 percent of the outstanding Axcelis shares after completion of the offering. The offering was lead managed by Goldman, Sachs & Co. and Morgan Stanley Dean Witter with Lehman Brothers and Salomon Smith Barney. The underwriters have a 30-day overallotment option overallotment option See greenshoe. to purchase up to an additional 1,550,000 shares of Common Stock. Axcelis Technologies, headquartered in Beverly, Massachusetts, is a leading producer of ion implantation equipment used in the fabrication of semiconductors. Axcelis also produces dry strip, photostabilization, and rapid thermal processing Rapid Thermal Processing (or RTP) refers to a semiconductor manufacturing process which heats silicon wafers to high temperatures (up to 1200 C or greater) on a timescale of several seconds or less. equipment used in semiconductor manufacturing, and provides extensive aftermarket service and support, including spare parts, equipment upgrades, maintenance services and customer training. A copy of the prospectus can be obtained from Goldman, Sachs & Co., at 85 Broad Street, New York, NY 10004 (phone: 212/902-1000). These securities are offered only by means of a written prospectus and this is neither an offer nor a solicitation of an offer to buy. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion