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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of earliest event reported): JULY 27, 1999
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IBIS TECHNOLOGY CORPORATION
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(Exact name of registrant as specified in its charter)
MASSACHUSETTS 0-23150 04-2987600
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
32 CHERRY HILL DRIVE, DANVERS, MASSACHUSETTS 01923
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (978) 777-4247
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ITEM 5. OTHER EVENTS.
On July 27, 1999, the Registrant publicly disseminated a press release
announcing its proposed offering of one million shares of common stock in an
underwritten offering led by SoundView Technology Group. The shares were
included in a shelf registration statement filed with the Securities and
Exchange Commission on July 8, 1999 and declared effective on July 26, 1999.
The Registrant intends to use the net proceeds raised from the offering
of the shares to fund research and development, capital expenditures, working
capital and for other general corporate purposes.
The information contained in the press release is incorporated herein
by reference and filed as Exhibit 99.1 hereto.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibit.
<TABLE>
<CAPTION>
Exhibit
Number Description
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<S> <C>
99.1 The Registrant's Press Release dated July 27, 1999.
</TABLE>
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
IBIS TECHNOLOGY CORPORATION
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(Registrant)
Date: July 27, 1999 By: /s/ Debra L. Nelson
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Debra L. Nelson, Chief Financial
Officer
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EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit Sequential
Number Description Page Number
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<S> <C> <C>
99.1 The Registrant's Press Release 5
dated July 27, 1999
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Exhibit 99.1
CONTACT:
Debra L. Nelson
Ibis Technology Corporation
(978) 777-4247
FOR IMMEDIATE RELEASE
IBIS TECHNOLOGY CORPORATION
ANNOUNCES PROPOSED PUBLIC OFFERING OF
1,000,000 SHARES OF COMMON STOCK
DANVERS, MA - July 27, 1999 - Ibis Technology Corporation (NASDAQ:IBIS) today
announced that it proposes to offer one million shares of common stock in an
underwritten offering led by SoundView Technology Group. The shares were
included in a shelf registration statement filed with the Securities and
Exchange Commission on July 8, 1999 and declared effective on July 26, 1999.
Ibis intends to use the net proceeds raised from the offering of the shares to
fund research and development, capital expenditures, working capital and for
other general corporate purposes.
Ibis Technology Corporation develops, manufactures and markets SIMOX-SOI
(Separation by IMplantation of OXygen / Silicon-On-Insulator) implantation
equipment and wafers for the worldwide semiconductor industry. Ibis' SIMOX-SOI
implantation equipment consists of advanced proprietary high current Ibis 1000
oxygen implanters. SIMOX-SOI wafers are Silicon-On-Insulator wafers which enable
the production of integrated circuits that the Company believes offer
significant advantages over circuits constructed on conventional bulk silicon or
epitaxial wafers.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of these securities in any state in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state. Offers and sales
of the shares may only be made by delivery of a prospectus for the offering.
Copies of the final prospectus relating to the shares of common stock may be
obtained from SoundView Technology Group, 22 Gatehouse Road, Stamford,
Connecticut 06902, (203) 462-7200.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995: The statements contained in this press release which are not historical
fact are forward-looking statements based upon management's current expectations
that are subject to risks and uncertainties that could cause actual results to
differ materially from those set forth in or implied by forward-looking
statements, including, but not limited to, the impact of the Year 2000 issue;
product demand and market acceptance risks, general economic conditions, the
impact of competitive products, technologies and pricing, equipment capacity and
supply constraints or difficulties, the cyclical nature of the semiconductor
industry, and other risks described in the Company's Securities and Exchange
Commission filings.
