Piton Capital Partners Amends Amtech Systems Stake

TL;DR

Piton Capital Partners filed an amendment to their Amtech Systems stake. Keep an eye on this.

AI Summary

On May 14, 2024, Piton Capital Partners LLC, along with its group members Cornice Fiduciary Management LLC, M3C Holdings LLC, and OIH LLC, filed an amendment to their Schedule 13D. This filing indicates a change in their beneficial ownership of Amtech Systems, Inc. common stock. The filing does not specify a new percentage of ownership or dollar amount, but it signifies an ongoing active interest in the company.

Why It Matters

This amendment signals a potential shift in control or influence over Amtech Systems, Inc. by Piton Capital Partners and its affiliates, which could impact the company's strategic direction and shareholder value.

Risk Assessment

Risk Level: medium — Schedule 13D filings often precede significant corporate actions or changes in control, introducing uncertainty and potential volatility.

Key Players & Entities

• Piton Capital Partners LLC (company) — Filing entity
• Amtech Systems, Inc. (company) — Subject company
• Cornice Fiduciary Management LLC (company) — Group member
• M3C Holdings LLC (company) — Group member
• OIH LLC (company) — Group member
• Garrett Lynam (person) — Contact person

FAQ

Key Financial Figures

• $0.01 — , INC. (Name of Issuer) Common Stock, $0.01 Par Value Per Share (Title of Class of
• $22 million — or total consideration of approximately $22 million. Each Reporting Person funded such prio

Filing Documents

• tm2414450-1_sc13da.htm (SC 13D/A) — 132KB
• 0001104659-24-061136.txt ( ) — 134KB

and Item 5

Item 2 and Item 5. (2) This calculation is rounded to the nearest tenth and is based upon 14,208,795 Shares outstanding, as reported in the Issuer’s Quarterly Report on Form 10-Q filed on May 8, 2024 (File No. 000-11412). CUSIP No. 032332504 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS OIH LLC 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS OO 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION Connecticut NUMBER OF SHARES 7 SOLE VOTING POWER 22,917 shares of Common Stock (1) BENEFICIALLY OWNED BY 8 SHARED VOTING POWER -0- EACH REPORTING 9 SOLE DISPOSITIVE POWER 22,917 shares of Common Stock (1) PERSON WITH 10 SHARED DISPOSITIVE POWER -0- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 22,917 shares of Common Stock (1) 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.2% of outstanding shares of Common Stock (2) 14 TYPE OF REPORTING PERSON OO (1) See Item 2 and Item 5. (2) This calculation is rounded to the nearest tenth and is based upon 14,208,795 Shares outstanding, as reported in the Issuer’s Quarterly Report on Form 10-Q filed on May 8, 2024 (File No. 000-11412). CUSIP NO. 032332504 SCHEDULE 13D/A Preliminary Note . Pursuant to Rule 13d-2 promulgated under the Act, this amendment to Schedule 13D (this “Amendment No. 6”) amends the Schedule 13D filed on January 25, 2016 (the “Original Schedule 13D”), as amended on August 24, 2017 (“Amendment No. 1”), December 18, 2017 (“Amendment No. 2”), July 17, 2018 (“Amendment No. 3”), November 27, 2018 (“Amendment No. 4”) and February 24, 2022 (“Amendment No. 5”). The Original Schedule 13D, Amendment No.1, Amendme

Security and Issuer . The first paragraph of Item 1 of

Item 1. Security and Issuer . The first paragraph of Item 1 of the Schedule 13D is hereby amended and restated to read as follows: This Statement on Schedule 13D relates to Common Stock, $0.01 par value per share (the “Shares”), of Amtech Systems, Inc., an Arizona corporation (the “Company” or the “Issuer”). The Company’s principal executive offices are located at 58 South River Drive Suite 370, Tempe, Arizona 85288.

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration . The first paragraph of

of the Schedule 13D is hereby amended and restated in its entirety to read as follows

Item 3 of the Schedule 13D is hereby amended and restated in its entirety to read as follows: As of May 14, 2024, the Reporting Persons had collectively purchased an aggregate of 2,718,417 Shares over the course of various prior purchases for total consideration of approximately $22 million. Each Reporting Person funded such prior purchases out of their available cash on hand (which, in the case of Reporting Persons that are entities, may include capital contributed by their respective owners). Additionally, Mr. Averick holds the right to purchase 42,000 aggregate Shares under various director stock options that are immediately exercisable (collectively, the “Option Shares”). Mr. Averick may periodically receive Shares through restricted stock units awarded for his service as a Company director, CUSIP NO. 032332504 SCHEDULE 13D/A

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer.

of the Schedule

Item 5 of the Schedule 13D is hereby amended and restated in its entirety to read as follows: Shares Beneficially Owned Percent of Class 1 (a) and (b) 1. The Trust 2 Sole Voting Power 1,386,312 9.8% Shared Voting Power -0- 0% Sole Dispositive Power 1,386,312 9.8% Shared Dispositive Power -0- 0% Aggregate Voting and Dispositive Power 1,386,312 9.8% 2. M3C 3 Sole Voting Power 263,688 1.9% Shared Voting Power -0- 0% Sole Dispositive Power 263,688 1.9% Shared Dispositive Power -0- 0% Aggregate Voting and Dispositive Power 263,688 1.9% 3. Mr. Averick 4 Sole Voting Power 42,000 0.3% Shared Voting Power 2,695,500 18.9% Sole Dispositive Power 42,000 0.3% Shared Dispositive Power 2,695,500 18.9% Aggregate Voting and Dispositive Power 2,737,500 19.2% 4. Piton 5 Sole Voting Power 600,000 4.2% Shared Voting Power -0- 0% Sole Dispositive Power 600,000 4.2% Shared Dispositive Power -0- 0% Aggregate Voting and Dispositive Power 600,000 4.2% 5. OIH 6 Sole Voting Power 22,917 0.2% Shared Voting Power -0- 0% Sole Dispositive Power 22,917 0.2% Shared Dispositive Power -0- 0% Aggregate Voting and Dispositive Power 22,917 0.2% CUSIP NO. 032332504 SCHEDULE 13D/A 1 This calculation is rounded to the nearest tenth and is based upon 14,208,795 Shares outstanding, as reported in the Issuer’s Quarterly Report on Form 10-Q filed on May 8, 2024 (File No. 000-11412) (unless otherwise noted below). 2 The Trust is a member of Piton, along with other “Family Clients” (as defined in Investment Advisers Act Rule 202(a)(11)(G)-1 (the “Family Office Rule”)) of Kokino. 3 M3C is a member of Piton, along with other Family Clients of Kokino. 4 Mr. Averick's principal occupation is acting as a Portfolio Manager at Kokino, which is a single-family office that provides investment management services only to its Family Clients, including the Trust, M3C and Pi

View Full Filing

View this SC 13D/A filing on SEC EDGAR