Axcelis Board Approves Sale Leaseback
BEVERLY, Mass., Nov. 29, 2011 /PRNewswire/ -- Axcelis Technologies, Inc. (Nasdaq: ACLS) today announced that its Board of Directors has approved moving forward to finalize a sale leaseback transaction for the Company's headquarters in Beverly, Massachusetts. The property is located 15 miles north of Boston, and includes a 417,000 square foot facility containing office, R&D, and manufacturing space as well as Axcelis' advanced technology center for customer demonstrations. Axcelis will continue to occupy the facility under a long-term lease.
Commenting on the Company's plans, Chief Financial Officer Jay Zager said, "Axcelis engaged Blackstone Advisory Partners L.P. earlier in the year to explore all possible financing options for the Company. At this point, we are pleased to be moving forward with a sale leaseback transaction that will provide the Company with additional liquidity without shareholder dilution. We expect to close on a transaction during the first quarter of 2012."
Safe Harbor Statement
This document contains forward-looking statements under the SEC safe harbor provisions. These statements, which include the company's plans to close on a sale leaseback transaction, are based on management's current expectations and should be viewed with caution. They are subject to various risks and uncertainties, many of which are outside the control of the Company, including the ability to negotiate mutually acceptable terms for the sale leaseback, as well as factors relating to global economic, political and financial conditions. These risks and other risk factors relating to Axcelis are described more fully in the most recent Form 10-K filed by Axcelis and in other documents filed from time to time with the Securities and Exchange Commission.
Axcelis Technologies, Inc. (Nasdaq: ACLS), headquartered in Beverly, Massachusetts, provides innovative, high-productivity solutions for the semiconductor industry. Axcelis is dedicated to developing enabling process applications through the design, manufacture and complete life cycle support of ion implantation and cleaning systems. The company's Internet address is: www.axcelis.com.
Maureen Hart (editorial/media) 978.787.4266
Jay Zager (financial community) 978.787.9408
SOURCE Axcelis Technologies, Inc.
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