• ACM Research is offering over 2.88 million shares of Class A common stock at $52 per share.
• The offer price represents over 19% discount to the stock’s closing price as of Monday.
• Last week, the company said it would take additional steps to expand its capabilities in global markets, including a plan to ramp up operations at its Oregon facility later this year.

Shares of semiconductor-related equipment maker ACM Research (ACMR) declined on Tuesday after the company disclosed plans to raise capital through a stock offering priced at a discount.

At the time of writing, ACMR stock was down more than 6%.

Discounted ACMR Stock Offering

According to the company’s filing with the Securities and Exchange Commission, ACM Research has agreed to issue and sell over 2.88 shares of Class A common stock in a registered direct offering.

The company set the offering price at $52 per share, representing over 19% discount to the stock’s closing price as of Monday. Total proceeds from the offering are expected to be $149.85 million, after accounting for expenses related to the stock offering. 

ACMR Eyes Expansion

The firm stated that proceeds from the offering will be used for U.S. and global expansion, as well as general corporate purposes.

The capital raise comes nearly a week after the company’s strong first quarter (Q1) report, in which it said it is taking additional steps to expand capabilities in global markets, including a plan to ramp up its Oregon facility later this year.

In Q1, revenue came in at $231 million, up 34% from last year, and ahead of the $215.7 million estimate, polled by Fiscal AI. Adjusted earnings per share of $0.34 was ahead of the consensus estimate by $0.14.

What Does Retail Think About ACMR Stock?

On Stocktwits, retail sentiment about ACMR remained ‘extremely bullish’ amid ‘high’ message volumes over the last 24 hours, with users on the platform taking note of the capital raise.

ACMR stock has risen by more than 54% so far this year and more than doubled over the past 12 months, outperforming the S&P 500.

Over 812,000 shares changed hands by 11:40 am ET on the NASDAQ, compared to its three-month average trading volume of 1.27 million.

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