By Mauro Orru
Ams AG said Tuesday that the exercise period for its rights issue reached completion on March 30, with a 62% take-up of the offered shares.
The Austrian sensor maker, which is listed in Switzerland, said subscription rights for 117,451,512 new shares were exercised by March 30, representing 62% of the total 189,869,454 shares offered to existing shareholders at a price of CHF9.20 ($9.61) a share.
The announcement comes nearly two months after an extraordinary general meeting backed the rights issue through which Ams will receive gross proceeds of about CHF1.75 billion through which it will partially refinance the acquisition of Osram Licht AG.
Ams launched a new offer through its subsidiary Ams Offer GmbH in November 2019 at 41 euros ($45.33) a share to take over the lighting-technology company, lowering the minimum acceptance threshold to 55%, which was reached in early January 2020.
A previous offer failed as a 62.5% threshold was not reached.
Ams added that it expects the listing and first day of trading of the new shares to take place on the SIX Swiss Exchange on or around April 3, noting the closing of the rights issue will need to shift by one day due to the closure on some weekdays of courts in Austria because of the coronavirus pandemic.
Write to Mauro Orru at firstname.lastname@example.org; @MauroOrru94