By Sheri Kasprzak
New York, April 25 - Aviza Technology, Inc. said it has completed a $15 million private placement with Caisse de depot et placement du Quebec.
The company sold 3,282,275 shares at $4.57 each. The price per share is only a slight discount to the company's $4.59 closing stock price on April 24.
Connected to the placement, company chief executive officer Jerry Cutini agreed to convert his 10,000 series B preferreds of subsidiary Aviza, Inc. into 238,482 common shares. Also, affiliates of VantagePoint Venture Partners agreed to convert their 10,000 series B preferreds of Aviza, Inc. and their 2,298,492 shares of series B-1 preferred stock of Aviza, Inc. into a total of 2,298,492 common shares.
Aviza, based in Scotts Valley, Calif., develops semiconductors.
| Issuer: | Aviza Technology, Inc.
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| Issue: | Stock
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| Amount: | $15 million
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| Shares: | 3,282,275
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| Price: | $4.57
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| Warrants: | No
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| Investor: | Caisse de depot et placement du Quebec
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| Settlement date: | April 25
|
| Stock symbol: | Nasdaq: AVZA
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| Stock price: | $4.82 at close April 25
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