Ultra Clean falls on equity offering

Ultra Clean Holdings

09/04/2021 13:43

** Ultra Clean Holdings  UCTT.O  shares down 4.8% at $54.10
premarket after semiconductor equipment and testing co prices
follow-on
    ** Stock on course to fall for 4th straight session
    ** Co sells ~3.18 mln shares at $55, raises $175 mln
 urn:newsml:reuters.com:*:nPn1Rltzca
    ** Offering prices at 3.2% discount to stock's Thurs close
    ** Co plans to use net offering proceeds for general corp
purposes, including for marketing, product development, capex
and potential acquisitions
    ** Needham sole bookrunner
    ** UCTT has ~40.6 mln shares outstanding for ~$2.3 bln
market cap, per Refinitiv data, and ~39.6 mln of free float
    ** Stock, up 82% YTD, notched record high close of $65.01 on
Mon

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))