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	<title>Greenbackd &#187; Axcelis Technologies Inc (NASDAQ:ACLS)</title>
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	<description>Identifying undervalued activist situations</description>
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		<title>Greenbackd &#187; Axcelis Technologies Inc (NASDAQ:ACLS)</title>
		<link>http://greenbackd.com</link>
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		<item>
		<title>Greenbackd exits ACLS position up 170%+</title>
		<link>http://greenbackd.com/2009/10/14/greenbackd-exits-acls-position-up-170/</link>
		<comments>http://greenbackd.com/2009/10/14/greenbackd-exits-acls-position-up-170/#comments</comments>
		<pubDate>Wed, 14 Oct 2009 05:00:19 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
				<category><![CDATA[Activist Investors]]></category>
		<category><![CDATA[Axcelis Technologies Inc (NASDAQ:ACLS)]]></category>
		<category><![CDATA[Spencer Capital Management]]></category>
		<category><![CDATA[Stocks]]></category>
		<category><![CDATA[Activist investment]]></category>
		<category><![CDATA[Liquidation Value]]></category>

		<guid isPermaLink="false">http://greenbackd.com/?p=2504</guid>
		<description><![CDATA[Axcelis Technologies Inc (NASDAQ:ACLS) has had an amazing run over the last few weeks, up more than 50% since the end of September to hit a 52-week high yesterday. We&#8217;ve decided to close our position because it&#8217;s trading at a substantial premium to our estimate of its liquidation value and we don&#8217;t think the underlying [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=2504&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	
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		<title>Manual of Ideas&#8217; List of activist targets includes ACLS</title>
		<link>http://greenbackd.com/2009/10/06/manual-of-ideas-list-of-activist-targets-includes-acls/</link>
		<comments>http://greenbackd.com/2009/10/06/manual-of-ideas-list-of-activist-targets-includes-acls/#comments</comments>
		<pubDate>Tue, 06 Oct 2009 05:00:41 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
				<category><![CDATA[Activist Investors]]></category>
		<category><![CDATA[Axcelis Technologies Inc (NASDAQ:ACLS)]]></category>
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		<category><![CDATA[Stocks]]></category>
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		<category><![CDATA[Liquidation Value]]></category>

		<guid isPermaLink="false">http://greenbackd.com/?p=2543</guid>
		<description><![CDATA[The always superb Manual Of Ideas has nine new additions to its list of activist targets. Companies on the list must have a &#8220;strong balance sheet that could be recapitalized or liquidated to achieve activist value creation; and insiders must own less than 20% of the shares, implying an inability to exercise voting control over [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=2543&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	
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		<title>Axcelis Technologies Inc (NASDAQ:ACLS) Q2 10Q update</title>
		<link>http://greenbackd.com/2009/08/20/axcelis-technologies-inc-nasdaqacls-q2-10q-update/</link>
		<comments>http://greenbackd.com/2009/08/20/axcelis-technologies-inc-nasdaqacls-q2-10q-update/#comments</comments>
		<pubDate>Thu, 20 Aug 2009 05:00:18 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
				<category><![CDATA[Activist Investors]]></category>
		<category><![CDATA[Axcelis Technologies Inc (NASDAQ:ACLS)]]></category>
		<category><![CDATA[Net Cash Stocks]]></category>
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		<guid isPermaLink="false">http://greenbackd.com/?p=2269</guid>
		<description><![CDATA[Axcelis Technologies Inc (NASDAQ:ACLS) has filed its 10Q for the period ended June 30, 2009. We started following ACLS on January 8 this year (see our post archive here) because it is an undervalued asset play with an activist investor, Sterling Capital Management, holding 10.7% of its outstanding stock. ACLS has completed the sale of [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=2269&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://greenbackd.com/2009/08/20/axcelis-technologies-inc-nasdaqacls-q2-10q-update/feed/</wfw:commentRss>
		<slash:comments>2</slash:comments>
	
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			<media:title type="html">ACLS Summary 2009 6 30</media:title>
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	</item>
		<item>
		<title>Greenbackd Portfolio Q2 Performance and Update</title>
		<link>http://greenbackd.com/2009/06/01/greenbackd-portfolio-q2-performance-and-update/</link>
		<comments>http://greenbackd.com/2009/06/01/greenbackd-portfolio-q2-performance-and-update/#comments</comments>
		<pubDate>Mon, 01 Jun 2009 06:16:39 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
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		<category><![CDATA[Axcelis Technologies Inc (NASDAQ:ACLS)]]></category>
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		<guid isPermaLink="false">http://greenbackd.com/?p=1930</guid>
		<description><![CDATA[Update June 16, 2009: SOAP has announced that it proposes to liquidate. See our post below. Update June 3, 2009: We&#8217;ve pinned this post to the front page. Any new posts between now and July 4th will appear below this post. &#8212; June 1, 2009 marked the end of Greenbackd’s second quarter. It&#8217;s time again [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=1930&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	
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			<media:title type="html">Greenbackd Portfolio Performance 2009 Q2</media:title>
		</media:content>
	</item>
		<item>
		<title>Axcelis Technologies Inc (NASDAQ:ACLS) Q1 10Q update</title>
		<link>http://greenbackd.com/2009/05/13/axcelis-technologies-inc-nasdaqacls-q1-10q-update/</link>
		<comments>http://greenbackd.com/2009/05/13/axcelis-technologies-inc-nasdaqacls-q1-10q-update/#comments</comments>
		<pubDate>Wed, 13 May 2009 05:00:20 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
				<category><![CDATA[Activist Investors]]></category>
		<category><![CDATA[Axcelis Technologies Inc (NASDAQ:ACLS)]]></category>
		<category><![CDATA[Sterling Capital Management]]></category>
		<category><![CDATA[Stocks]]></category>
		<category><![CDATA[Activist investment]]></category>
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		<guid isPermaLink="false">http://greenbackd.com/?p=1880</guid>
		<description><![CDATA[Axcelis Technologies Inc (NASDAQ:ACLS) has filed its 10Q for the period ended March 31, 2009. We started following ACLS on January 8 this year (see our post archive here) because it is an undervalued asset play with an activist investor, Sterling Capital Management, holding 10.7% of its outstanding stock. ACLS has completed the sale of [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=1880&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://greenbackd.com/2009/05/13/axcelis-technologies-inc-nasdaqacls-q1-10q-update/feed/</wfw:commentRss>
		<slash:comments>4</slash:comments>
	
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			<media:title type="html">ACLS Summary 2009 3 31</media:title>
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		<item>
		<title>ACLS completes sale of SEN Corp interest to SHI</title>
		<link>http://greenbackd.com/2009/03/31/acls-completes-sale-of-sen-corp-interest-to-shi/</link>
		<comments>http://greenbackd.com/2009/03/31/acls-completes-sale-of-sen-corp-interest-to-shi/#comments</comments>
		<pubDate>Tue, 31 Mar 2009 05:00:41 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
				<category><![CDATA[Activist Investors]]></category>
		<category><![CDATA[Axcelis Technologies Inc (NASDAQ:ACLS)]]></category>
		<category><![CDATA[Sterling Capital Management]]></category>
		<category><![CDATA[Stocks]]></category>
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		<guid isPermaLink="false">http://greenbackd.com/?p=1550</guid>
		<description><![CDATA[Axcelis Technologies Inc (NASDAQ:ACLS) has completed the sale of its 50% interest in SEN Corporation, its joint venture with Sumitomo Heavy Industries, Ltd. (SHI) to SHI for proceeds of $122.3 million. ACLS received around $35.9M in cash after applying $86.4M of the proceeds to meet obligations to the holders of the company’s 4.25% Convertible Senior [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=1550&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://greenbackd.com/2009/03/31/acls-completes-sale-of-sen-corp-interest-to-shi/feed/</wfw:commentRss>
		<slash:comments>2</slash:comments>
	
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		<title>Greenbackd Portfolio Q1 performance and update</title>
		<link>http://greenbackd.com/2009/03/02/greenbackd-portfolio-q1-performance-and-update/</link>
		<comments>http://greenbackd.com/2009/03/02/greenbackd-portfolio-q1-performance-and-update/#comments</comments>
		<pubDate>Mon, 02 Mar 2009 05:00:57 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
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		<guid isPermaLink="false">http://greenbackd.com/?p=1158</guid>
		<description><![CDATA[March 1, 2009 marked the end of Greenbackd&#8217;s first quarter, so we thought we&#8217;d take the opportunity to update you on the performance of the Greenbackd Portfolio and the positions in the portfolio, discuss some changes in our valuation methodology since our first post and outline the future direction of Greenbackd.com. First quarter performance of [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=1158&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>10</slash:comments>
	
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		<title>ACLS agrees to sell SEN Corp interest for $133M</title>
		<link>http://greenbackd.com/2009/02/27/acls-agrees-to-sell-sen-corp-interest-for-133m/</link>
		<comments>http://greenbackd.com/2009/02/27/acls-agrees-to-sell-sen-corp-interest-for-133m/#comments</comments>
		<pubDate>Fri, 27 Feb 2009 05:01:05 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
				<category><![CDATA[Activist Investors]]></category>
		<category><![CDATA[Axcelis Technologies Inc (NASDAQ:ACLS)]]></category>
		<category><![CDATA[Sterling Capital Management]]></category>
		<category><![CDATA[Stocks]]></category>
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		<guid isPermaLink="false">http://greenbackd.com/?p=1147</guid>
		<description><![CDATA[Axcelis Technologies Inc (NASDAQ:ACLS) has announced that it has agreed to sell its 50% interest in SEN Corporation, its joint venture with Sumitomo Heavy Industries, Ltd. (SHI) to SHI for Y13 billion, or approximately $133 million, in cash. This is an outstanding achievement by ACLS management under difficult conditions. The sale will provide the liquidity [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=1147&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://greenbackd.com/2009/02/27/acls-agrees-to-sell-sen-corp-interest-for-133m/feed/</wfw:commentRss>
		<slash:comments>6</slash:comments>
	
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		<title>ACLS misses payment on Convertible Senior Subordinated Notes</title>
		<link>http://greenbackd.com/2009/01/19/acls-misses-payment-on-convertible-senior-subordinated-notes/</link>
		<comments>http://greenbackd.com/2009/01/19/acls-misses-payment-on-convertible-senior-subordinated-notes/#comments</comments>
		<pubDate>Mon, 19 Jan 2009 05:28:04 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
				<category><![CDATA[Activist Investors]]></category>
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		<guid isPermaLink="false">http://greenbackd.com/?p=797</guid>
		<description><![CDATA[Axcelis Technologies Inc (NASDAQ:ACLS) has failed to make a payment required under the company&#8217;s 4.25% Convertible Senior Subordinated Notes. The company was required to repay the outstanding principal amount of the notes plus a maturity premium and accrued interest (a total payment of approximately $85 million) on January 15. The failure constitutes an event of [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=797&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://greenbackd.com/2009/01/19/acls-misses-payment-on-convertible-senior-subordinated-notes/feed/</wfw:commentRss>
		<slash:comments>4</slash:comments>
	
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		<title>Axcelis Technologies Inc (NASDAQ:ACLS)</title>
		<link>http://greenbackd.com/2009/01/08/axcelis-technologies-inc-nasdaqacls/</link>
		<comments>http://greenbackd.com/2009/01/08/axcelis-technologies-inc-nasdaqacls/#comments</comments>
		<pubDate>Thu, 08 Jan 2009 05:14:39 +0000</pubDate>
		<dc:creator>greenbackd</dc:creator>
				<category><![CDATA[Activist Investors]]></category>
		<category><![CDATA[Axcelis Technologies Inc (NASDAQ:ACLS)]]></category>
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		<guid isPermaLink="false">http://greenbackd.com/?p=601</guid>
		<description><![CDATA[Axcelis Technologies Inc (NASDAQ:ACLS) is a new addition to the Greenbackd Portfolio at its $0.60 closing price yesterday. ACLS is an undervalued asset play with an activist investor, Sterling Capital Management, holding 10.7% of its outstanding stock. At $0.60, the company has a market capitalization of $61.8M. We estimate that its liquidating value is more [...]<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=greenbackd.com&amp;blog=5581605&amp;post=601&amp;subd=greenbackd&amp;ref=&amp;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>4</slash:comments>
	
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