Brief: AOS Announces Sale Of Portion Of JV Equity Interest And Financial Deconsolidation

Alpha and Omega Semiconductor

07/12/2021 14:26

Dec 7 (Reuters) - Alpha and Omega Semiconductor Ltd
 AOSL.O :
    * AOS ANNOUNCES SALE OF PORTION OF JV EQUITY INTEREST AND
FINANCIAL DECONSOLIDATION
    * ALPHA AND OMEGA SEMICONDUCTOR LTD - TRANSACTION RELATED TO
A
SALE OF ABOUT 2.1% OF OUTSTANDING EQUITY INTEREST IN JV CO IN
CHONGQING, CHINA
    * ALPHA AND OMEGA SEMICONDUCTOR LTD - SALE TO THIRD PARTY
INVESTOR
FOR AN AGGREGATE PURCHASE PRICE OF RMB 108 MILLION
    * ALPHA AND OMEGA SEMICONDUCTOR LTD - CO IS REDUCING ITS
OWNERSHIP
TO BELOW 50% IN JV CO
    * ALPHA AND OMEGA SEMICONDUCTOR LTD - AFTER TRANSACTION, JV
CO
INTENDS TO RAISE UP TO $200 MILLION THROUGH PRIVATE FUNDING
ROUNDS FOR PHASE II EXPANSION
    * ALPHA AND OMEGA SEMICONDUCTOR - AS PART OF TRANSACTION,
CO'S
RIGHT TO DESIGNATE DIRECTORS ON BOARD OF JV CO WILL BE THREE
INSTEAD OF FOUR DIRECTORS
    * ALPHA AND OMEGA SEMICONDUCTOR LTD - DECONSOLIDATION IS NOT
EXPECTED TO HAVE A MATERIAL IMPACT ON CO'S OPERATIONAL FINANCIAL
PERFORMANCE
    * ALPHA AND OMEGA SEMICONDUCTOR LTD SAYS OUR GAAP AND
NON-GAAP
GUIDANCE FOR DECEMBER 2021 QUARTER REMAINS UNCHANGED

Source text for Eikon:  ID:nBw7qNfHva 
Further company coverage:  AOSL.O 

 ((Reuters.Briefs@thomsonreuters.com;))