JWCA advises Kulicke & Soffa on its $150 million accelerated share repurchase

MARCH 2022 | read press release

J. Wood Capital Advisors acted as financial advisor to Kulicke and Soffa Industries, Inc. (“the “Company”), and led the execution of the Company’s first accelerated share repurchase program

• Assisted the Kulicke & Soffa team with ASR design, maturity objectives, and accounting review to ensure appropriate treatment

• Created a process to achieve the best terms for the Company:

  • Led an auction process to drive Company-friendly pricing and achieve the largest possible discount

  • Helped determine executed structure (look back vs no look back, partial acceleration vs not)

  • Reviewed the documents to ensure company-friendly provisions

• Provided advice, support and analysis during the execution

Results

• The auction process allowed the Company to achieve a meaningful discount at a transaction size of $150mm

• Kulicke & Soffa’s shares outstanding were immediately reduced by ~2.4mm shares, approximately 4% of their shares outstanding

• This is JWCA’s first advisory assignment for Kulicke & Soffa