Ibis Tech to sell 2 mln shares for working capital
Tuesday September 2, 5:25 pm ET
WASHINGTON, Sept 2 (Reuters) - Ibis Technology Corp. (NasdaqNM:IBIS - News), which makes implantation equipment and wafers for the semiconductor industry, filed on Tuesday with the Securities and Exchange Commission (News - Websites) to sell 2 million common shares from time to time.
The Danvers, Massachusetts-based company plans to use the net proceeds for working capital and other general corporate purposes, including debt reduction, growth financing; product development; for capital expenditures; and acquisitions, it said in the shelf registration filing.
A shelf registration gives a company advance regulatory approval to sell securities, allowing the company flexibility in the amount and timing of an offering.
Ibis shares rose 5.23 percent, or 56 cents, to close at $11.26 on Nasdaq. |
