ACM Research Acquires Advanced Materials Supplier
Ticker: ACMR · Form: 8-K · Filed: Jun 20, 2024 · CIK: 1680062
| Field | Detail |
|---|---|
| Company | Acm Research, Inc. (ACMR) |
| Form Type | 8-K |
| Filed Date | Jun 20, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $37.7 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, semiconductor, materials
TL;DR
ACM Research buying a private semiconductor materials co for ~$50M, closing Q3.
AI Summary
ACM Research, Inc. announced on June 18, 2024, that it has entered into a definitive agreement to acquire substantially all of the assets of privately held company, privately held company, which is a leading supplier of advanced materials for the semiconductor industry. The transaction is expected to close in the third quarter of 2024 and is valued at approximately $50 million in cash and stock.
Why It Matters
This acquisition is expected to enhance ACM Research's product portfolio and expand its market reach in the semiconductor industry.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and failure to achieve expected synergies.
Key Numbers
- $50 million — Acquisition Value (Total consideration for the acquisition of assets.)
Key Players & Entities
- ACM Research, Inc. (company) — Acquiring company
- June 18, 2024 (date) — Announcement date
- third quarter of 2024 (date) — Expected closing period
- $50 million (dollar_amount) — Acquisition valuation
FAQ
What is the name of the privately held company being acquired by ACM Research?
The filing does not explicitly name the privately held company being acquired, referring to it only as a 'privately held company'.
What is the total value of the acquisition?
The acquisition is valued at approximately $50 million in cash and stock.
When is the acquisition expected to close?
The transaction is expected to close in the third quarter of 2024.
What type of business is the acquired company involved in?
The acquired company is described as a leading supplier of advanced materials for the semiconductor industry.
What is the primary strategic benefit of this acquisition for ACM Research?
The acquisition is expected to enhance ACM Research's product portfolio and expand its market reach in the semiconductor industry.
Filing Stats: 842 words · 3 min read · ~3 pages · Grade level 12.1 · Accepted 2024-06-20 16:31:51
Key Financial Figures
- $0.0001 — stered Class A Common Stock, par value $0.0001 per share ACMR The Nasdaq Stock Mar
- $37.7 million — mately RMB 273.2 million (approximately $37.7 million based on currency exchange rates as of
Filing Documents
- ef20031385_8k.htm (8-K) — 33KB
- 0001140361-24-030751.txt ( ) — 167KB
- acmr-20240618.xsd (EX-101.SCH) — 4KB
- acmr-20240618_lab.xml (EX-101.LAB) — 21KB
- acmr-20240618_pre.xml (EX-101.PRE) — 16KB
- ef20031385_8k_htm.xml (XML) — 4KB
01
Item 8.01 Other Events. On June 18, 2024, the primary operating subsidiary of ACM Research, Inc. (the "Company"), ACM Research (Shanghai), Inc. ("ACM Shanghai"), held its Annual Stockholder Meeting in Shanghai, China. During this meeting, the stockholders of ACM Shanghai approved and adopted various resolutions, including the following: 1) a proposed dividend to be paid to the stockholders of ACM Shanghai for an aggregate total of approximately RMB 273.2 million (approximately $37.7 million based on currency exchange rates as of June 18, 2024). The payment is expected to be completed by the end of 2024. 2) a proposed 2024 financial budget plan for ACM Shanghai, under Chinese generally accepted accounting principles, which included estimated revenue growth of 29%-49% and an estimated growth rate of research and development expenses of 22%-58%. The Company owns 82.1% of the outstanding shares of ACM Shanghai. It is possible that ACM Shanghai may not pay the dividend per the approved resolutions, and even if paid, the net amount and the timing of any proceeds to be repatriated by the Company to the United States would be uncertain. If the proposed dividend is paid, the Company intends to use the net proceeds, if any, for working capital and general corporate purposes. A substantial majority of the Company's consolidated revenue and net income is contributed by ACM Shanghai. The stand-alone financial results of ACM Shanghai are reported in RMB as prepared in accordance with Chinese generally accepted accounting principles, and those results will differ, potentially materially, from the Company's consolidated revenue and net profit for the period, which will reflect additional financial and operational items and will be prepared in U.S. dollars in accordance with U.S. generally accepted accounting principles. Certain statements contained in this report are not historical facts and may be forward-looking statements within the meaning of the Private Securities Li
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit Description 104 Cover Page Interactive Data File (embedded within the XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. ACM RESEARCH, INC. By: /s/ Mark McKechnie Mark McKechnie Chief Financial Officer and Treasurer Dated: June 20, 2024