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Amtech Systems plans $34 million in fund raising

17 October 2007 | Market Watch: News

Amtech furnaceAmtech Systems, Inc. (NASDAQ:ASYS) has announced that it plans to offer an aggregate of approximately $34,000,000 of its common stock in an underwritten, registered public offering. Amtech said that intends to use the proceeds from the offering for working capital and general corporate purposes.

The company has seen stronger than expected sales in the solar wafer market and other industries in the past year with the fund raising, believed to be directed at boosting sales and manufacturing operations and potentially further acquisitions.

The company also announced new solar cell equipment orders worth $17.4 million, doubling the order levels for the year.

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