ATI files to sell up to $500m of stock
How much, when and what it can't yet say
ATI is getting ready to sell up to $500 million worth of shares sometime in the next two years.
The graphics chip maker today said it had filed a preliminary sales prospectus with both US and Canadian financial regulators.
The filing register's the company's plan to offer (perhaps) a variety of different securities or combinations of them, at any time in the next 25 months. The goal: to provide the company "with the ability to quickly take advantage of cost-effective financing opportunities".
If it wants to go ahead, ATI will have to file a final shelf prospectus, outlining what it's selling and how much of it the company plans to offer. "The nature, size and timing of any financings under the final shelf prospectus will be dependent upon ATI's assessment of its requirements for funding and general market conditions," the company said. ®