BEVERLY, Mass., July 1, 2016 /PRNewswire/ -- Axcelis
Technologies, Inc. (Nasdaq: ACLS), a leading supplier of enabling
ion implantation solutions for the semiconductor industry, today
announced the completion of its 1-for-4 reverse stock split of its
common stock as of 6:00 p.m. Eastern
Time on June 30, 2016.
As of the open of the market today, shares of Axcelis common
stock will begin trading on a split-adjusted basis on the Nasdaq
Global Select Market under its unchanged symbol "ACLS." The Axcelis
common stock will trade under a new CUSIP number (054540208).
The reverse stock split affects all issued and outstanding
shares of the Company's common stock, as well as common stock
underlying stock-based compensation immediately prior to the
effectiveness of the reverse stock split. As previously disclosed,
at effectiveness of the reverse stock split, every four shares of
outstanding Axcelis common stock were automatically combined into
one share of common stock without any change in the par value per
share. This reduced the number of outstanding shares of common
stock from approximately 116 million to approximately 39
million.
No fractional shares were issued in connection with the reverse
stock split. Instead, Axcelis' transfer agent will aggregate all
fractional shares that otherwise would have been issued as a result
of the reverse stock split and those shares will be sold into the
market. Stockholders who would otherwise hold a fractional share of
Axcelis common stock will receive a proportional cash payment from
the net proceeds of that sale in lieu of such fractional share.
Additional information on the treatment of fractional shares
and other effects of the reverse stock split can be found in
Axcelis' definitive proxy statement filed with the Securities and
Exchange Commission on March 14,
2016.
Computershare Trust Company, N.A. and Computershare Inc. will
collectively act as the Company's exchange agent for purposes of
implementing the reverse stock split. Stockholders with
certificated shares will soon receive an exchange form from
Computershare which will contain instructions on how to surrender
certificates representing pre-split shares. Stockholders should not
send in their old stock certificates until they receive an exchange
form from Computershare. However, a stockholder may, if
desired, sell shares by delivering an old stock certificate to a
broker. Stockholders of record as of June 30, 2016 who wish to ensure that the Company
has their most current contact information should visit the
Computershare Investor Center online at
www.computershare.com/investor.
Stockholders who hold their shares in brokerage accounts or
"street name" will not be required to take any action to effect the
exchange of their shares.
About Axcelis:
Axcelis (Nasdaq: ACLS), headquartered
in Beverly, Mass., has been
providing innovative, high-productivity solutions for the
semiconductor industry for over 35 years. Axcelis is dedicated to
developing enabling process applications through the design,
manufacture and complete life cycle support of ion implantation
systems, one of the most critical and enabling steps in the IC
manufacturing process. Learn more about Axcelis at
www.axcelis.com.
CONTACTS:
Maureen Hart
(editorial/media) 978.787.4266
Doug Lawson (investor relations)
978.787.9552
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SOURCE Axcelis Technologies, Inc.