Xcerra Corporation Announces Proposed Public Offering of Common Stock

NORWOOD, Mass., Sept. 8, 2014 (GLOBE NEWSWIRE) -- Xcerra Corporation (Nasdaq: XCRA) today announced that it has commenced a public offering of $40,000,000 of its common stock pursuant to an effective shelf registration statement. Stifel and Craig-Hallum Capital Group LLC will be acting as joint book-runners for the offering, with D.A. Davidson & Co. and B. Riley & Co. acting as co-managers.

Xcerra intends to use approximately $18 million of the net proceeds from the offering to repay the outstanding principal balance of the promissory note issued to Dover Corporation in connection with its acquisition of Xcerra's Multitest and ECT businesses, to repay a portion of the outstanding principal amount of the company's bank term loan and for general corporate purposes, including capital expenditures and potential strategic acquisitions.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale is not permitted. The offering of these securities is being made pursuant to an effective registration statement on Form S-3 (including a base prospectus). A preliminary prospectus supplement related to the offering has been filed with the Securities and Exchange Commission, or SEC, and is available on the SEC's website located at www.sec.gov. The securities may be offered only by means of the preliminary prospectus supplement and the accompanying base prospectus, copies of which may be obtained from Stifel, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, by calling (415) 364-2720 or by emailing [email protected] or from Craig-Hallum Capital Group LLC, 222 South Ninth Street, Suite 350, Minneapolis, Minnesota 55402, or by calling (612) 334-6300.

Before you invest, you should read the base prospectus in that registration statement and related prospectus supplement and other documents that the issuer has filed or will file with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, you may obtain a preliminary prospectus supplement and accompanying base prospectus as indicated above.

About Xcerra Corporation

Xcerra Corporation is comprised of four businesses in the semiconductor and electronics manufacturing test markets: atg-Luther & Maelzer, Everett Charles Technologies, LTX-Credence and Multitest.

Safe Harbor for Forward-Looking Statements

Statements in this release, including statements relating to Xcerra's expectations regarding the completion of the public offering and the proposed use of proceeds, constitute forward-looking statements within the meaning of the United States securities laws, including the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "believes," "anticipates," "plans," "expects," "may," "will," "would," "intends," "estimates" and similar expressions) should also be considered to be forward-looking statements. These statements are subject to known and unknown risks and uncertainties that could cause actual results or events to differ materially from those stated or implied, including but not limited to: uncertain global economic and industry conditions, fluctuations in business and consumer spending; fluctuations in our sales and operating results; risks related to the timely development of new products, options and software applications, as well as the other risks described in our filings with the U.S. Securities and Exchange Commission, including those included under the heading "Risk Factors" in our Quarterly Report on Form 10-Q for the fiscal quarter ended April 30, 2014 and the preliminary prospectus supplement dated September 8, 2014 related to this offering. Xcerra disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release except to the extent required by law. 

Xcerra is a trademark of Xcerra Corporation.  All other trademarks are the property of their respective owners.

CONTACT: Investor Contact:

         Richard Yerganian,
         Vice President, Investor Relations
         Xcerra Corporation
         Tel. 781.467.5063
         Email [email protected]

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