January 8, 2007 – Aviza Technology Inc. has filed a registration statement with the SEC for a proposed sale of 4.0 million shares of its common stock in a public offering, with an extra 600,000 shares to underwriter Needham & Co. to cover overallotments.
Proceeds will be used for working capital, R&D, and other general corporate purposes, including possibly repaying borrowings under its mortgage and credit lines. At current market value, the shares would be worth approximately $17.3 million. The deal will increase Aviza’s outstanding shares by about 25% to ~20 million shares.
Last April Aviza sold an aggregate of about 3.3 million shares of common stock to Caisse de dept et placement du Quebec (“CDPQ”) for $15 million in a private placement.