ACM Research’s Operating Subsidiary ACM Research (Shanghai) Announces Issuance Report on Private Offering of Ordinary Shares

Rhea-AI Summary

ACM Research (NASDAQ: ACMR)'s operating subsidiary, ACM Research Shanghai, has completed a private offering of 38,601,326 ordinary shares on China's STAR Market at RMB 116.11 per share. The offering raised gross proceeds of RMB 4.5 billion (US$630 million) and net proceeds of RMB 4.4 billion (US$624 million) after expenses.

The funds will support research and development, capital expenditures, and working capital. The shares were allocated to 17 qualified investors and are subject to a six-month lock-up period. Following the offering, ACM's equity stake in ACM Shanghai will decrease from 81.1% to approximately 74.5%, though ACM will remain the controlling shareholder.

Positive

• Raised significant capital of US$630 million to fund growth initiatives
• ACM maintains controlling interest with 74.5% ownership
• Successfully placed shares with 17 qualified investors, indicating strong institutional interest
• Proceeds will support R&D and capital expenditures for business expansion

Negative

• Dilution of parent company's ownership from 81.1% to 74.5%
• Six-month lock-up period restricts immediate trading of new shares

Insights

Semiconductor Investment Analyst

ACM Shanghai raises $630M through private offering, diluting parent ACM Research's stake to 74.5% while strengthening financial position for R&D and expansion.

ACM Research's Shanghai subsidiary has successfully completed a private offering of 38.6 million shares at RMB 116.11 per share, raising gross proceeds of RMB 4.5 billion (approximately $630 million). The capital raise comes with a notable ownership dilution for the NASDAQ-listed parent company, whose equity interest in the Shanghai entity will decrease from 81.1% to 74.5%, though it remains firmly in control.

This strategic fundraising represents a significant financial reinforcement for ACM, a key supplier of wafer and panel processing solutions in the semiconductor manufacturing equipment space. The $624 million in net proceeds (after expenses) provides substantial firepower for three critical business priorities: research and development initiatives, capital expenditures for manufacturing expansion, and working capital to support growing operations.

The structure of the offering is particularly noteworthy—allocated to 17 qualified investors who subscribed entirely in cash, with the newly issued shares subject to a six-month lock-up period before becoming eligible for trading on China's STAR Market. This approach balances immediate capital infusion with medium-term market stability. The successful completion of this offering strengthens ACM's competitive positioning in the semiconductor equipment market at a time when chip manufacturing investments are accelerating globally, particularly in China where domestic semiconductor self-sufficiency remains a strategic priority.

FREMONT, Calif., Sept. 24, 2025 (GLOBE NEWSWIRE) -- ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a leading supplier of wafer and panel processing solutions for semiconductor and advanced packaging applications, today announced that its operating subsidiary, ACM Research (Shanghai), Inc. (“ACM Shanghai”), has issued its report on the private offering of ordinary shares (the “Private Offering”) on the Shanghai Stock Exchange website [link to China Disclosure], in accordance with applicable regulations of the STAR Market and the China Securities Regulatory Commission.

ACM Shanghai issued 38,601,326 ordinary shares at RMB 116.11 per share, raising gross proceeds of RMB 4.5 billion (approx. US$630 million) and net proceeds of RMB 4.4 billion (approx. US$624 million) after deducting offering-related expenses. The proceeds are intended to be used for research and development, capital expenditures and working capital.

The Private Offering was allocated to 17 qualified investors, all of whom subscribed entirely in cash. The newly issued shares will be registered with the China Securities Depository and Clearing Corporation and subject to the six-month lock-up period before becoming eligible for trading on the STAR Market.

Following the Private Offering, ACM estimates its equity interest in ACM Shanghai will decrease to approximately 74.5% from 81.1% before the offering. ACM will remain the controlling shareholder of ACM Shanghai.

All USD amounts above are for reference only and are translated using the September 23, 2025 Wall Street Journal closing exchange rate.

Forward-Looking Statements

Certain statements contained in this press release are not historical facts and may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “plans,” “expects,” “believes,” “anticipates,” “designed,” and similar words are intended to identify forward-looking statements. Forward-looking statements are based on ACM management’s current expectations and beliefs and involve a number of risks and uncertainties that are difficult to predict and that could cause actual results to differ materially from those stated or implied by the forward-looking statements. A description of certain of these risks, uncertainties and other matters can be found in filings ACM makes with the U.S. Securities and Exchange Commission, all of which are available at www.sec.gov. Because forward-looking statements involve risks and uncertainties, actual results and events may differ materially from results and events currently expected by ACM. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ACM undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in its expectations with regard to these forward-looking statements or the occurrence of unanticipated events.

About ACM Research, Inc.

ACM develops, manufactures and sells semiconductor process equipment spanning cleaning, electroplating, stress-free polishing, vertical furnace processes, track, PECVD, and wafer- and panel-level packaging tools, enabling advanced and semi-critical semiconductor device manufacturing. ACM is committed to delivering customized, high-performance, cost-effective process solutions that semiconductor manufacturers can use in numerous manufacturing steps to improve productivity and product yield. For more information, visit www.acmr.com.

© ACM Research, Inc. ACM Research logo is trademark of ACM Research, Inc. For convenience, these trademarks appear in this press release without ™ symbols, but that practice does not mean ACM will not assert, to the fullest extent under applicable law, its rights to such trademarks. All other trademarks are the property of their respective owners.

For investor and media inquiries, please contact:

In the United States:	The Blueshirt Group Steven C. Pelayo, CFA +1 (360) 808-5154 steven@blueshirtgroup.co
In China:	The Blueshirt Group Asia Gary Dvorchak, CFA gary@blueshirtgroup.co

FAQ

How much did ACM Research Shanghai raise in its private offering?

ACM Research Shanghai raised gross proceeds of RMB 4.5 billion (US$630 million) and net proceeds of RMB 4.4 billion (US$624 million) after expenses.

What is the new ownership structure of ACM Research Shanghai after the private offering?

Following the offering, ACM Research's equity stake in ACM Shanghai will decrease from 81.1% to approximately 74.5%, while remaining the controlling shareholder.

How many shares did ACM Research Shanghai issue in the private offering?

ACM Research Shanghai issued 38,601,326 ordinary shares at a price of RMB 116.11 per share.

What will ACM Research Shanghai use the private offering proceeds for?

The proceeds will be used for research and development, capital expenditures, and working capital.

How long is the lock-up period for the newly issued shares?

The newly issued shares are subject to a six-month lock-up period before becoming eligible for trading on the STAR Market.