ACM Shanghai subsidiary raises $630M private placement; ACM stake drops to 74.5%

ACM Research, Inc.

ACM Shanghai issued 38.6M ordinary shares at RMB 116.11 per share, gross proceeds approx. $630M.
Net proceeds of $624M for R&D, capex, and working capital.
Allocation to 17 qualified investors, all cash; six-month lock-up before STAR Market trading.
ACM ownership decreases from 81.1% to 74.5%; ACM remains controlling shareholder.
Private offering reported on Shanghai Stock Exchange website as required by STAR Market rules.

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