ACM Research enters RMB200M (~$28M) working capital loan facility with CITIC Bank

ACM Research, Inc.

Loan of RMB200M (~$28M) matures Dec 21, 2025; proceeds for operating turnover.
Interest: 1-yr LPR +105bps if drawn before Jan 24, 2024; thereafter CITIC may adjust.
Quarterly interest payments; principal due at maturity; conditional prepayment allowed.
Standard covenants, events of default; loan secured by customary terms.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

ACM Research, Inc. entered into RMB Working Capital Loan Contract with China CITIC Bank Co., Ltd. valued at RMB 200 million (approximately $28 million based on currency exchange rates as of July 25, 2023) (effective 2023-07-25).

Action: entry
Agreement: credit facility
Counterparty: China CITIC Bank Co., Ltd.
Value: RMB 200 million (approximately $28 million based on currency exchange rates as of July 25, 2023)
Effective: 2023-07-25

Exact text from the filing

On July 25, 2023, we entered into a RMB Working Capital Loan Contract (the “ Loan Contract”) with China CITIC Bank Co., Ltd. (“ China CITIC Bank ”). The Loan Contract provides for a RMB 200 million (approximately $28 million based on currency exchange rates as of July 25, 2023) loan credit facility, which term expires on December 21, 2025

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Source: SEC EDGAR

accession 0001140361-23-037101

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