Tech Stock News Update – Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Ultra Clean Holdings, Inc. (NASDAQ:UCTT) traded in the range of $21.61 to $22.65 in its intra-day current trading session. The stock recorded the volume of 3.07M shares so far, in comparison its average daily trading volume of 1.45M shares. Company’s year to date performance remained quiet declining as it lost almost -4.59%.

Ultra Clean Holdings, Inc. (NASDAQ:UCTT) today declared the pricing of an underwritten public offering of 4,761,905 shares of its common stock at a price to the public of $21.00 per share. All of the shares of common stock to be sold in the offering will be offered by Ultra Clean. The offering is scheduled to close on February 2, 2018, subject to customary closing conditions. The underwriters for the offering will also have a 30-day option to purchase up to an additional 714,285 shares of the Company’s common stock at the public offering price, less the underwriting discount.

Ultra Clean Holdings, Inc. intends to use the net proceeds from this offering for general corporate purposes, which may include working capital, capital expenditures, repayment of indebtedness and other general corporate purposes. In addition, Ultra Clean has in the past made acquisitions of complementary businesses and assets and regularly evaluates opportunities to acquire complementary businesses or assets. The Company may use the net proceeds to fund all or a portion of the cost of any such acquisitions, although it has no agreements or understandings with respect to any acquisition at this time. Needham & Company and Cowen are acting as joint book-running managers for the offering. Craig-Hallum Capital Group is acting as co-manager for the offering.

Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) have been recently spotted trading -37.21% off of the 52-week high price. On the other end, company shares have been noted 83.14% away from the low price over the last 52-weeks. Switching over to some distances from popular moving averages, we see that the stock has been recorded -7.73% away from the 200 day moving average. Moving closer, we can see that shares have been trading -9.24% off of the 20-day moving average.

Ultra Clean Holdings, Inc. designs, develops, prototypes, engineers, manufactures, and tests production tools, modules, and subsystems for the semiconductor capital equipment and equipment industry segments primarily in North America, Asia, and Europe.

About the Author

Jose Tuttle
Jose Tuttle
Jose Tuttle joined the mostvolatilestocks.com, after more than 10 years of experience in writing financial and business news, most recently as Investment Editor and writer. He also has a vast knowledge of stock trading. He earned bachelor degree from Union College with a focus in Business Administration. Jose is the Senior Editor for mostvolatilestocks.com and market movers section. He also holds an MBA from Penn State University He has two daughter and two children. Email Contact -  Jose@mostvolatilestocks.com.

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