Amkor Prices 10M Share Secondary Offering at $48.75, Kim Family Retains 49% Stake
Amkor priced a secondary offering of 10 million shares by the Kim Family at $48.75 each, with underwriters granted a 30-day option for 1.5 million additional shares. The sale yields no proceeds for Amkor and leaves the Kim Family owning over 49% of common stock.
1. Offering Pricing and Terms
Amkor has priced a secondary underwritten public offering of 10,000,000 existing shares at $48.75 per share by 915 Investments, LP, an investment vehicle of the Kim Family and Susan Y. Kim. Goldman Sachs & Co. LLC is serving as sole bookrunning manager and holds a 30-day option to purchase up to 1,500,000 additional shares.
2. Ownership Structure Post-Offering
All shares will be sold by the Kim Family’s investment vehicle, with Amkor receiving no proceeds. Following the transaction, the Kim Family will continue to own over 49% of the company’s common stock, preserving its position as the largest shareholder.
3. Underwriter Option and Lock-Up Agreements
The selling stockholder entered into a 180-day lock-up on its remaining shares, while Amkor agreed to a 75-day clear market provision limiting any company share issuance or sale. These agreements aim to stabilize the market float and prevent immediate additional supply.
4. Financial and Trading Impact
Because no new shares are issued, the transaction is non-dilutive to existing shareholders but increases the publicly tradable float by 10 million shares. The expanded supply may influence trading volume, liquidity and short-term price dynamics.