ACM Research, which sells single-wafer wet cleaning equipment to semiconductor manufacturers, announced terms for its IPO on Wednesday.
The Fremont, CA-based company plans to raise $17 million by offering 2 million shares at a price range of $7.50 to $9.50. At the midpoint of the proposed range, ACM Research would command a fully diluted market value of $148 million.
ACM Research was founded in 1998 and booked $34 million in sales for the 12 months ended June 30, 2017. It plans to list on the Nasdaq under the symbol ACMR. Roth Capital is the sole bookrunner on the deal. IPO timing was not disclosed.
