Ultra Clean Announces Pricing of Public Offering of Common Stock

HAYWARD, Calif., April 8, 2021 /PRNewswire/ -- Ultra Clean Holdings, Inc. (Nasdaq: UCTT) today announced the pricing of an underwritten public offering of 3,181,818 shares of its common stock at a price to the public of $55.00 per share, resulting in gross proceeds of approximately $175.0 million. All of the shares of common stock to be sold in the offering will be offered by Ultra Clean. The offering is scheduled to close on April 13, 2021, subject to customary closing conditions. The underwriters for the offering will also have a 30-day option to purchase up to an additional 477,272 shares of the Company's common stock at the public offering price, less the underwriting discount.

The Company intends to use the net proceeds from this offering for general corporate purposes, including working capital, sales and marketing activities, product development, general and administrative matters, and capital expenditures. The Company may use a portion of the net proceeds to acquire complementary businesses, products, services, or technologies, although it has no agreements, commitments, or plans for any specific acquisitions at this time.

Needham & Company is acting as sole book-running manager for the offering. D.A. Davidson & Co., Craig-Hallum Capital Group and Colliers Securities LLC are acting as co-managers.

The shares described above are being offered by Ultra Clean pursuant to an automatic shelf registration statement on Form S-3, including a base prospectus, that was previously filed by Ultra Clean with the Securities and Exchange Commission (the "SEC") on April 5, 2021 and became effective upon filing. A preliminary prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and is available on the SEC's website located at http://www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus related to this offering may be obtained from Needham & Company, LLC, Attention: Syndicate Prospectus Department, 250 Park Avenue, 10th Floor, New York, New York 10177, or by telephone at (800) 903-3268, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification of these securities under the securities laws of any such state or jurisdiction.

About Ultra Clean Holdings, Inc.

Ultra Clean Holdings, Inc. is a leading developer and supplier of critical subsystems, components and parts, and ultra-high purity cleaning and analytical services primarily for the semiconductor industry. Under its Products division, UCT offers its customers an integrated outsourced solution for major subassemblies, improved design-to-delivery cycle times, design for manufacturability, prototyping, and high-precision manufacturing. Under its Services Division, UCT offers its customers tool chamber parts cleaning and coating, as well as micro-contamination analytical services. Ultra Clean is headquartered in Hayward, California.

Forward-Looking Statements

The foregoing information contains, or may be deemed to contain, "forward-looking statements" (as defined in the US Private Securities Litigation Reform Act of 1995) which reflect our current views with respect to future events and financial performance. We use words such as "anticipates," "projects," "forecast," "believes," "plan," "expect," "future," "intends," "may," "will," "estimates," "predicts,"  and similar expressions to identify these forward-looking statements. Forward looking statements included in this press release include our expectations with respect to the closing date and use of proceeds of the public offering. All forward-looking statements address matters that involve risks and uncertainties including, without limitation, risks and uncertainties related to the satisfaction of closing conditions related to the public offering, the cash requirements of our business and the fact that our management will have broad discretion in the use of the proceeds from the offering. Accordingly, the Company's actual results may differ materially from the results predicted or implied by these forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Ultra Clean's business in general, please refer to Ultra Clean's preliminary prospectus supplement filed with the SEC on April 5, 2021 and accompanying prospectus relating to the offering to be filed with the SEC, including the documents incorporated by reference therein, which includes our Annual Report on Form 10-K filed with the SEC on February 23, 2021 and subsequent periodic reports filed with the SEC. The Company assumes no duty or obligation to update or revise any forward-looking statements for any reason.

Contact:

Rhonda Bennetto
Vice President Investor Relations
[email protected]

SOURCE Ultra Clean Holdings, Inc.

Related Links

www.uct.com