Core Viewpoint - Axcelis Technologies, Inc. is set to merge with Veeco Instruments Inc., creating a leading semiconductor equipment company, with positive implications for future growth and shareholder value [2][3][5] Group 1: Merger Details - The merger between Axcelis and Veeco is an all-stock transaction, expected to diversify their portfolio and expand addressable markets [2] - Axcelis shareholders will hold approximately 58% of the newly combined entity, with investigations into the merger's fairness ongoing [2] - The combined entity is projected to have an enterprise value of approximately $4.4 billion, enhancing the operating profile and balance sheet [3][5] Group 2: Financial Projections - The merger is anticipated to be accretive to non-GAAP earnings per share within the first year post-closing, indicating potential financial benefits for shareholders [3][5] - D.A. Davidson has set a price target of $110 for Axcelis, suggesting a potential increase of about 12.13% from its then-current price of $98.10 [1][5] Group 3: Current Stock Performance - Currently, ACLS stock is priced at $92.79, reflecting a decrease of approximately 2.08% or $1.97 [4] - The stock has fluctuated between a low of $92.74 and a high of $98.35 today, with a market capitalization of approximately $2.92 billion [4]

Axcelis Technologies, Inc. (ACLS) shares dropped 4.39 percent to $93.35 on Wednesday, down $4.60, after the company announced an all-stock merger with Veeco Instruments Inc. The stock opened at $93.50 and traded between $86.04 and $93.89, compared with a previous close of $97.64 on the Nasdaq. Trading volume reached 1.36 million shares, above the average of 495,814. Axcelis now trades within a 52-week range of $40.40 to $107.23.The combined company is expected to have an enterprise value of approximately ...

Transaction Overview - Axcelis and Veeco are combining to create an industry-leading semiconductor equipment company[1,29,55] - The transaction is an all-stock deal where Veeco shareholders will receive 03575 Axcelis shares for each Veeco share[52] - The combined company will be headquartered in Beverly, Massachusetts and assume a new name and ticker symbol[52] - The transaction is expected to close in the second half of 2026, subject to shareholder and regulatory approvals[52] Financial Highlights - The combined company will have a pro forma cash position exceeding $900 million[24,28,30,52,56] - The combined company's 2024 revenue is approximately $17 billion[27,36] - The combined company's non-GAAP gross margin is 44%[27,30,56] - The combined company's adjusted EBITDA is approximately $387 million[28,30] - The combined company expects to realize $35 million in annual run-rate cost synergies within 24 months after closing[52,53] Strategic Rationale - The combination expands the addressable market opportunity to over $5 billion[30,56] - The merger creates a broader product portfolio and complementary end markets[22,23,25,30,35,36,41,42,44,45] - The combined company will have a robust R&D and innovation engine[23]