Cohu (COHU) Prices 4.95M Share Upsized Common Offering at $41/Sh

Cohu, Inc. (NASDAQ: COHU), a global leader in back-end semiconductor equipment and services, today announced the pricing of an underwritten public offering of 4,950,000 shares of its common stock at a public offering price of $41.00 per share. The offering was upsized from the previously announced public offering of 4,500,000 shares of common stock. All of the shares are being offered by Cohu. The gross proceeds to Cohu, before deducting underwriting discounts and commissions and estimated offering expenses payable by Cohu, are expected to be approximately $203 million. In addition, Cohu has granted the underwriters a 30-day option to purchase up to an additional 742,500 shares of its common stock in the offering at the public offering price, less underwriting discounts and commissions.

Cohu intends to use the net proceeds of this offering to repay outstanding principal on its term loan facility and for general corporate purposes, including to fund future growth initiatives. The offering is expected to close on March 8, 2021, subject to the satisfaction of customary closing conditions.

Citigroup, Goldman Sachs & Co. LLC and Stifel are acting as joint book-running managers for the offering. B. Riley Securities, Craig-Hallum Capital Group and D.A. Davidson & Co. are acting as co-managers for the offering.

The shares are being offered by Cohu pursuant to an effective shelf registration statement on Form S-3ASR that was filed with the Securities and Exchange Commission (“SEC”) and became on effective on March 10, 2020.

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