News

18 December 2009

 

Nanometrics prices public offering to raise $20.6m

Nanometrics Inc of Milpitas, CA, USA, a supplier of process control metrology systems primarily for manufacturing semiconductors, solar photovoltaics and high-brightness LEDs, has announced the pricing of its previously announced underwritten public offering of 2,025,000 shares of its common stock at a price of $11 per share. Founder Vincent J. Coates is also selling 675,000 shares at $11 per share as part of the same offering.

In connection with the offering, the underwriters have been granted a 30-day over-allotment option to purchase up to an additional 303,750 and 101,250 shares of common stock from the firm and Coates, respectively. The closing of the offering is expected to take place on or about 22 December, subject to the satisfaction of customary closing conditions.

After underwriting discounts and commissions and other offering expenses, net proceeds from shares sold by the firm are expected to be $20.6m. Nanometrics plans to use about $2m to repay certain obligations related to the acquisition of certain assets of Zygo Corp in June, with the remainder to be used for general corporate purposes, including working capital.

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