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 [...]
Posts Tagged ‘Sterling Capital Management’
ACLS completes sale of SEN Corp interest to SHI
Posted in Activist Investors, Axcelis Technologies Inc (NASDAQ:ACLS), Sterling Capital Management, Stocks, tagged Activist investment, Axcelis Technologies Inc (NASDAQ:ACLS), Liquidating Value, Sterling Capital Management on March 31, 2009 | 2 Comments »
ACLS agrees to sell SEN Corp interest for $133M
Posted in Activist Investors, Axcelis Technologies Inc (NASDAQ:ACLS), Sterling Capital Management, Stocks, tagged Activist investment, Axcelis Technologies Inc (NASDAQ:ACLS), Liquidating Value, Sterling Capital Management on February 27, 2009 | 6 Comments »
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 [...]
ACLS misses payment on Convertible Senior Subordinated Notes
Posted in Activist Investors, Axcelis Technologies Inc (NASDAQ:ACLS), Sterling Capital Management, Stocks, tagged Axcelis Technologies Inc (NASDAQ:ACLS), Sterling Capital Management on January 19, 2009 | 4 Comments »
Axcelis Technologies Inc (NASDAQ:ACLS) has failed to make a payment required under the company’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 [...]
Axcelis Technologies Inc (NASDAQ:ACLS)
Posted in Activist Investors, Axcelis Technologies Inc (NASDAQ:ACLS), Greenbackd Portfolio, Sterling Capital Management, Stocks, tagged Activist investment, Axcelis Technologies Inc (NASDAQ:ACLS), Liquidating Value, Sterling Capital Management on January 8, 2009 | 4 Comments »
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 [...]
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