Amkor Technology announces offering of 10M shares of common stock by Kim family

Amkor Technology “announced that 915 Investments, LP, the “selling stockholder”, intends to offer 10,000,000 shares of the Company’s common stock in a secondary underwritten public offering. The selling stockholder is an investment vehicle for members of the family of James J. Kim, the founder and Executive Chairman of the Board of Directors of Amkor, and Susan Y. Kim, the Executive Vice Chairman of the Board. The selling stockholder also intends to grant the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of Common Stock. All of the shares in the offering will be sold by the selling stockholder. The Company will not receive any proceeds from the sale of the shares by the selling stockholder. Members of the Kim family and their affiliates will continue to own a majority of Amkor’s shares following the sale. The selling stockholder expects to enter into a lock-up agreement under which it will agree that neither the selling stockholder nor any of its direct or indirect affiliates, other than the Company and its subsidiaries, will sell, or otherwise transfer or dispose of, any of its remaining shares of Common Stock for a period of 365 days after the date of the final prospectus, subject to certain exceptions. The Company expects to enter into a clear market provision pursuant to which it will agree not to offer or otherwise sell shares of Common Stock for a period of 60 days after the date of the final prospectus, subject to certain exceptions. J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are serving as joint lead bookrunning managers and as representatives of the underwriters for the offering. Goldman Sachs & Co. LLC and Guggenheim Securities, LLC are also serving as joint bookrunners for the offering. B. Riley Securities, Inc., D.A. Davidson & Co., KeyBanc Capital Markets Inc. and Needham & Company, LLC are serving as co-managers for the offering.”