By Sheri Kasprzak
Atlanta, June 16 - ASAT Holdings Ltd. said it has received a commitment for $15 million in a private placement from at least one of its existing shareholders.
The shareholder has agreed to buy a note with a second shareholder having the option to buy half of the note for $7.5 million.
The note bears interest at 5% annually and matures in two years.
The investors will receive warrants for 25 million shares, or 5 million American Depositary Shares, exercisable at a penny each for five years.
Based in Hong Kong, ASAT produces housings for semiconductors.
| Issuer: | ASAT Holdings Ltd.
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| Issue: | $15 million
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| Amount: | Note
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| Maturity: | Two years
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| Coupon: | 5%
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| Price: | Par
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| Yield: | 5%
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| Warrants: | For 25 million shares or 5 million American Depositary Shares
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| Warrant expiration: | Five years
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| Warrant strike price: | $0.01
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| Announcement date: | June 16
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| Stock price: | $0.98 at close June 16
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