Shaw and Partners is pleased to be appointed as Lead Manager to the capital raising by Revasum (ASX : RVS)
The company is seeking to raise $7.9 million via a 1 for 3.5 pro-rata accelerated non-renounceable entitlement offer of 22.6 million new shares and new CDIs to eligible existing security holders.
The offer price of $0.35 represents a 31.4% discount to the last close price of $0.51 on 27 January 2021; a 20.4% discount to the 5-day VWAP of $0.44; a 1.5% discount to the 30-day VWAP of $0.36; 26.2% discount to the theoretical ex-rights price (TERP) of $0.47.
Funds raised will be used primarily to facilitate the ongoing customisation, qualification and marketing of the flagship 6EZ Silicon Carbide (SiC) Single-Wafer Polisher (“6EZ”) and development of the next generation SiC grinder.
Revasum’s Chairman, Vivek Rao said that it was an exciting time for the Company as it continues to take major steps in commercialization of the 6EZ Silicon Carbide Single-Wafer Polisher. He has confidence the Company will garner strong support from new and existing investors, who see the growth in end markets, driving the demand for Revasum’s products including electric vehicles, 5G and solar.
“Demand for Silicon Carbide wafers is growing exponentially, driven by high-growth end markets including electric vehicles. Revasum is poised to capitalize on this opportunity with our SiC equipment solutions including both the 6EZ, and our 7AF-HMG grinder.
For more information please contact your Shaw and Partners Adviser.
About Revasum
Revasum designs and manufactures capital equipment used in the semiconductor device manufacturing process for the global semiconductor industry, strategically targeting Silicon Carbide (SiC) and wafer sizes ≤200mm. The Company has leveraged its significant expertise and intellectual property portfolio to develop the new flagship 6EZ Silicon Carbide Polisher, which, alongside the 7AF-HMG Silicon Carbide Grinder, provides Revasum’s customers with an optimized, fully automated single-wafer grind and polish toolset.
The Company’s headquarters and manufacturing facility is based in San Luis Obispo, California, United States. The Company also has both direct and independent sales and service offices located in the US, China, Europe, Japan, Korea and Taiwan.
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