Ichor Holdings, Ltd 8-K/A, filed Dec 16, 2020
Ichor Holdings, Ltd. (ICHR)
About this 8-K/A
Ichor Holdings, Ltd filed this 8-K/A on December 16, 2020, reporting on events of December 9, 2020.
Items reported
- Item 1.01: Entered into a material agreement
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b‑2 of the Securities Exchange Act of 1934 (§ 240.12b‑2 of this chapter).
Emerging Growth Company
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Explanatory Note
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Item 1.01 |
Entry into a Material Definitive Agreement |
On December 9, 2020, Ichor Holdings, Ltd. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Stifel, Nicolaus & Company, Incorporated and Cowen and Company, LLC, as the representatives for the underwriters named in Schedule I thereto (the “Underwriters”), in connection with the offering of 4,000,000 shares of the Company’s ordinary shares, par value $0.0001 per share (the “Ordinary Shares”), sold by the Company (the “Offering”) at a public offering price of $31.75 per share, less an underwriting discount of $1.3494 per share. Under the terms of the Underwriting Agreement, the Company granted the Underwriters a 30‑day option to purchase up to 600,000 additional shares of the Ordinary Shares on the same terms. On December 11, 2020, the Underwriters exercised this option in full.
The Company received net proceeds from the Offering of approximately $139.1 million after deducting underwriting discount and estimated expenses of the Offering. The Company intends to use the net proceeds from the Offering for general corporate purposes, which may include capital expenditures, potential acquisitions, growth opportunities and strategic transactions. However, the Company does not have binding commitments or agreements for any specific acquisitions at this time.
The Underwriting Agreement contains customary representations, warranties, covenants and conditions. In the Underwriting Agreement, the Company agreed to indemnify the Underwriters against certain liabilities that could be incurred by them in connection with the Offering.
The Offering is being made pursuant to an effective Registration Statement on Form S‑3 (File No. 333‑240294) filed with the Securities and Exchange Commission (the “SEC”) on August 3, 2020. A prospectus supplement relating to the Offering has been filed with the SEC. The closing of the Offering occurred on December 14, 2020.
The foregoing summary of the Underwriting Agreement is qualified in its entirety by reference to the Underwriting Agreement, which is attached as Exhibit 1.1 to this Report and is incorporated herein by reference.
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Item 8.01 |
Other Events |
On December 9, 2020, the Company issued a press release announcing that it had priced the Offering. A copy of the press release is furnished as Exhibit 99.1 to this Report and is incorporated herein by reference. Maples and Calder has issued an opinion, dated December 14, 2020, to the Company regarding certain legal matters with respect to the Offering, a copy of which is filed as Exhibit 5.1 hereto.
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Item 9.01 |
Financial Statements and Exhibits |
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Exhibit |
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Description |
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Underwriting Agreement, dated December 9, 2020, among Ichor Holdings, Ltd. and Stifel, Nicolaus & Company, Incorporated and Cowen and Company, LLC, as the representatives for the underwriters named in Schedule I thereto (incorporated by reference to Exhibit 1.1 of Ichor Holdings, Ltd.’s Form 8-K filed on December 14, 2020). |
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23.1 |
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Consent of Maples and Calder (included in Exhibit 5.1). |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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ICHOR HOLDINGS, LTD. |
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Date: December 16, 2020 |
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/s/ Larry J. Sparks |
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Name: Larry J. Sparks |
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Title: Chief Financial Officer |