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Axcelis Technologies

Logo: Axcelis Technologies, Public domain, via Wikimedia Commons5

American semiconductor equipment manufacturer

Axcelis Technologies, Inc. is an American company engaging in the design, manufacture, and servicing of capital equipment for the semiconductor manufacturing industry worldwide. It produces ion implantation systems, including high and medium current implanters, and high energy implanters, and curing systems used in the fabrication of semiconductor chips. The company was incorporated in 1995 and is headquartered in Beverly, Massachusetts, United States.3 Its shares trade on Nasdaq under the symbol ACLS.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

1995Founded1

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  • TickerACLS on Nasdaq1
  • IndustrySpecial Industry Machinery, NEC1
  • HeadquartersBeverly1
  • Websitewww.axcelis.com
  • Legal formDelaware corporation1
  • Incorporated inDE6
  • Business address108 Cherry Hill Drive, Beverly, Ma 019156
  • Filer categoryLarge accelerated filer6
  • LEI529900HF9B6NL1QG9F054
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 25714794

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Axcelis, Beverly MA
Photo: John Phelan, CC BY-SA 4.0, via Wikimedia Commons8

Axcelis Technologies, Inc. is an American company engaging in the design, manufacture, and servicing of capital equipment for the semiconductor manufacturing industry worldwide. It produces ion implantation systems, including high and medium current implanters, and high energy implanters, and curing systems used in the fabrication of semiconductor chips. The company was incorporated in 1995 and is headquartered in Beverly, Massachusetts, United States.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

44.9%Gross margin9
14.2%Operating margin9
14.3%Net margin9
-17.6%Revenue growth, 20259
11.6%Return on equity9
$107.0MFree cash flow9

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Ion implantation systems and services brought in 49% of the revenue Axcelis Technologies broke down this way in fiscal 2025.

  1. Ion implantation systems and services$824.1M949%down 18% from 2024
  2. Systems$571.0M934%down 27% from 2024
  3. Aftermarket$268.0M916%up 14% from 2024
  4. Other systems and services$14.9M91%down 11% from 2024
Products and services by year
Products and services202320242025
Ion implantation systems and services$1.1B$1.0B$824.1M
Systems$883.6M$782.6M$571.0M
Aftermarket$247.0M$235.3M$268.0M
Other systems and services$19.3M$16.8M$14.9M

Regions

Asia Pacific brought in 46% of the revenue Axcelis Technologies broke down this way in fiscal 2025.

  1. Asia Pacific$610.2M946%down 22% from 2024
  2. United States$482.6M937%down 24% from 2024
  3. North America$137.1M910%down 5% from 2024
  4. Europe$91.8M97%down 1% from 2024
Regions by year
Regions202320242025
Asia Pacific$811.3M$781.0M$610.2M
United States$749.3M$632.0M$482.6M
North America$174.8M$144.1M$137.1M
Europe$144.5M$92.8M$91.8M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue55¢$462.2M
  • Research and development13¢$109.0M
  • Other costs15¢$129.6M
  • Income tax2¢$18.0M
  • Profit14¢$120.2M

Out of $839.0M in revenue.9

Where each dollar of operating cash went, fiscal 2025

  • Capital spending9¢$11.3M
  • Share buybacks91¢$121.1M

Out of $118.3M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.9

Financial statements

Revenue101112139$839.0M in 2025+145% since 2019
0$500.0M$1.0B$1.5B2019: $343.0M$343.0M20192020: $474.6M$474.6M2020+38%2021: $662.4M$662.4M2021+40%2022: $920.0M$920.0M2022+39%2023: $1.1B$1.1B2023+23%2024: $1.0B$1.0B2024−10%2025: $839.0M$839.0M2025−18%
Gross profit101112139$376.8M in 2025+161% since 2019
0$200.0M$400.0M$600.0M2019: $144.2M$144.2M20192020: $198.6M$198.6M2020+38%2021: $286.4M$286.4M2021+44%2022: $401.8M$401.8M2022+40%2023: $491.3M$491.3M2023+22%2024: $454.7M$454.7M2024−7%2025: $376.8M$376.8M2025−17%
Operating income101112139$119.3M in 2025+393% since 2019
0$100.0M$200.0M$300.0M2019: $24.2M$24.2M20192020: $58.0M$58.0M2020+140%2021: $127.3M$127.3M2021+119%2022: $212.4M$212.4M2022+67%2023: $265.8M$265.8M2023+25%2024: $210.8M$210.8M2024−21%2025: $119.3M$119.3M2025−43%
Net income101112139$120.2M in 2025+606% since 2019
0$100.0M$200.0M$300.0M2019: $17.0M$17.0M20192020: $50.0M$50.0M2020+193%2021: $98.7M$98.7M2021+97%2022: $183.1M$183.1M2022+86%2023: $246.3M$246.3M2023+35%2024: $201.0M$201.0M2024−18%2025: $120.2M$120.2M2025−40%

Every line of the income statement as filed: the last 3 fiscal years, latest first.9

Period ending2025-12-312024-12-312023-12-31
Total revenue$839.0M$1.0B$1.1B
Total cost of revenue$462.2M$563.2M$639.3M
Gross profit$376.8M$454.7M$491.3M
Research and development$109.0M$105.5M$96.9M
Sales and marketing$65.4M$68.0M$62.8M
General and administrative$83.2M$70.3M$65.8M
Total operating expenses$257.5M$243.9M$225.5M
Income from operations$119.3M$210.8M$265.8M
Interest income$21.5M$24.4M$18.2M
Interest expense-$5.4M-$5.5M-$5.3M
Other, net$2.8M$539.0K-$48.0K
Total other income$18.9M$19.5M$12.8M
Income before income taxes$138.2M$230.3M$278.6M
Income tax provision$18.0M$29.3M$32.3M
Net income$120.2M$201.0M$246.3M
Basic$3.81$6.17$7.52
Diluted$3.80$6.15$7.43
Basic weighted average shares of common stock31.6M shares32.6M shares32.8M shares
Diluted weighted average shares of common stock31.7M shares32.7M shares33.2M shares

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Corporate structure

Axcelis Technologies sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Axcelis Technologies

  • Axcelis Technologies Beverly, Massachusetts, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Axcelis Technologies reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$93.4M9 Dec 31, 2025$84.9M9 Dec 31, 2024+10.0%
Accumulated depreciation$37.2M9 Dec 31, 2025$31.1M9 Dec 31, 2024+19.7%
Property and equipment, net$56.1M9 Dec 31, 2025$53.8M9 Dec 31, 2024+4.4%
Finance-lease assets$14.2M9 Dec 31, 2025$15.3M9 Dec 31, 2024−7.8%
Operating-lease assets (leased space)$28.9M9 Dec 31, 2025$29.6M9 Dec 31, 2024−2.3%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$145.5M9 Dec 31, 2025$123.5M9 Dec 31, 2024+17.8%
Marketable securities, current$228.8M9 Dec 31, 2025$447.8M9 Dec 31, 2024−48.9%
Marketable securities, non-current$182.4M9 Dec 31, 2025

Inventory

ItemLatestA year beforeChange
Inventory, total$329.0M9 Dec 31, 2025$282.2M9 Dec 31, 2024+16.6%
Raw materials$259.0M9 Dec 31, 2025$227.1M9 Dec 31, 2024+14.0%
Work in process$51.8M9 Dec 31, 2025$34.5M9 Dec 31, 2024+50.1%
Finished goods$18.2M9 Dec 31, 2025$20.6M9 Dec 31, 2024−11.6%

Properties, in its own words

We lease our principal facility in Beverly, Massachusetts, which comprises 417,000 square feet. The facility is used for manufacturing, research and development, sales/marketing, customer support, advanced process development, product demonstration, customer-training center and corporate headquarters. We also lease our Axcelis Logistics Center, a state-of-the-art logistics and flex manufacturing center with 101,800 square feet built to our specifications, in Beverly, Massachusetts and our Axcelis Asia Operations Center in South Korea, which comprises 38,000 square feet and is principally used for manufacturing.

We believe that our manufacturing facilities and equipment generally are well maintained, in good operating condition, suitable for our purposes, and adequate for our present operations.

The rest of Item 2

We own 23 acres of undeveloped property in Beverly, Massachusetts, adjacent to our headquarters.

As of December 31, 2025, we also leased 48 other properties, of which 10 are located in the United States and the remainder are located in Asia and Europe, including offices in China, Germany, Italy, Japan, Singapore, South Korea and Taiwan. These properties are used for sales, service and warehousing.

Our Beverly, Massachusetts facility is ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certified, our European office is ISO 9001:2015 certified, and our Asia Axcelis Operations Center is ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 certified.

Item 2 of the 10-K filed Feb 26, 2026.17

Leadership

Who has led Axcelis Technologies, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Mary G. Puma2006–2023
  2. Russell Low2023–now

Chair

  1. Mary G. Puma2006–2024

President

  1. Mary G. Puma2006–2023
  2. Russell Low2023–now

Chief financial officer

  1. Stephen G. Bassett2006–2010
  2. Jay Zager2011–2013
  3. Kevin J. Brewer2014–2024
  4. James Gordon Coogan2023–2026
  5. David Ryzhik2026–now
200020052010201520202025
Board members and other officers (38)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Axcelis Technologies GmbH Germany7
  • Axcelis Technologies Pte. Ltd. Singapore7
  • Axcelis Technologies, KK Japan7
  • Axcelis Technologies, Ltd. Taiwan7
  • Axcelis Technologies, Sarl France7
  • Axcelis Technologies, Srl Italy7

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Aug 6, 20268-K Results of operations62
  2. May 7, 20268-K Results of operations63
  3. May 6, 20268-K Shareholder vote64
  4. Mar 12, 20268-K Executive or director change; Regulation FD disclosure65
  5. Feb 17, 20268-K Results of operations66
  6. Feb 6, 20268-K Shareholder vote; Regulation FD disclosure67
  7. Feb 2, 20268-K Other events68
  8. Jan 28, 20268-K Other events69
  9. Nov 4, 20258-K Results of operations70
  10. Oct 1, 20258-K Entered a material agreement; Other events71
  11. Oct 1, 20258-K Regulation FD disclosure72
  12. Aug 5, 20258-K Results of operations73
  13. May 16, 2023New chief executive Russell Low becomes CEO18
  14. Jan 4, 2006New chief executive Mary G. Puma becomes CEO19
  15. 1995Founded Founded1

Calendar

Coming up

  1. Nov 3, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $1.06 a share, on Nov 4, 2025.74

When it reported results

  1. Aug 6, 2026Reported quarterly or annual results62
  2. May 7, 2026Reported quarterly or annual results63
  3. Feb 17, 2026Reported quarterly or annual results66
  4. Nov 4, 2025Reported quarterly or annual results70
  5. Aug 5, 2025Reported quarterly or annual results73
  6. May 6, 2025Reported quarterly or annual results75
  7. Feb 10, 2025Reported quarterly or annual results76
  8. Nov 6, 2024Reported quarterly or annual results77

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

455 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 39 major events, 273 insider forms, 29 large holders, 93 other. The latest 20:

  1. Sep 16, 20264 EDGAR
  2. Sep 16, 20264 EDGAR
  3. Aug 6, 202610-Q EDGAR
  4. Aug 6, 20268-K EDGAR
  5. Aug 6, 2026SCHEDULE 13G/A EDGAR
  6. Jul 17, 20264 EDGAR
  7. Jul 14, 2026SCHEDULE 13G/A EDGAR
  8. Jun 17, 20264 EDGAR
  9. Jun 16, 20264 EDGAR
  10. Jun 4, 20264 EDGAR
  11. Jun 3, 20264 EDGAR
  12. Jun 3, 2026144 EDGAR
  13. Jun 2, 2026144 EDGAR
  14. May 28, 20264 EDGAR
  15. May 27, 2026144 EDGAR
  16. May 27, 2026SD EDGAR
  17. May 26, 20264 EDGAR
  18. May 22, 20264 EDGAR
  19. May 22, 2026144 EDGAR
  20. May 22, 2026144 EDGAR

The 455 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

111 open-market trades by officers, directors and large owners since October 2021: 3 buys and 108 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 3, 2026Sayiner NecipDirectorSale1,586$157.44$249.7KForm 4
Jun 2, 2026Mahoney Robert JohnEVP Global OperationsSale1,155$155.24$179.3KForm 4
May 27, 2026Sutton ToddVP Corporate ControllerSale2,000$159.99$320.0KForm 4
May 22, 2026Evans EileenEVP, General Counsel and Sec'ySale926$155.51$144.0KForm 4
May 22, 2026St Dennis ThomasDirectorSale900$155.37$139.8KForm 4
May 21, 2026Blumenstock Gerald MEVP, Research, Dev. & Eng.Sale1,161$152.70$177.3KForm 4
May 20, 2026Tatnall ChristopherEVP Global Customer OperationsSale1,166$149.75$174.6KForm 4
May 19, 2026Quirk JeanneDirectorSale1,789$140.22$250.9KForm 4
May 19, 2026GRAVES GREGORY BDirectorSale3,225$141.61$456.7KForm 4
May 19, 2026KURTZWEIL JOHN TDirectorSale3,500$138.79$485.8KForm 4
May 14, 2026Sutton ToddVP Corporate ControllerSale2,574$163.89$421.9KForm 4
May 14, 2026Blumenstock Gerald MEVP, Research, Dev. & Eng.Sale1,015$162.32$164.8KForm 4
May 13, 2026Redinbo GregEVP and Chief Strategy OfficerSale2,883$160.85$463.7KForm 4
May 13, 2026Titinger JorgeDirectorSale2,000$164.14$328.3KForm 4
May 12, 2026Mahoney Robert JohnEVP Global OperationsSale2,258$161.00$363.5KForm 4
May 6, 2026Low RussellPRESIDENT AND CEOSale7,468$156.75$1.2MForm 4
May 1, 2026Low RussellPRESIDENT AND CEOSale1,244$138.86$172.7KForm 4
Apr 1, 2026Low RussellPRESIDENT AND CEOSale1,244$94.06$117.0KForm 4
Mar 24, 2026Low RussellPRESIDENT AND CEOSale1,244$90.00$112.0KForm 4
Feb 20, 2026Titinger JorgeDirectorSale1,000$80.00$80.0KForm 4

All 111 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Russell J. LowPresident and Chief Executive Officer$608.7K$5.1M88
2025James G. CooganExecutive Vice President and Chief Financial Officer$466.3K$2.4M88
2025Eileen J. EvansExecutive Vice President, HR and Legal, and General Counsel$384.6K$1.6M88
2025Christopher J. TatnallExecutive Vice President, Global Customer Operations$312.5K$1.3M88
2025Gerald M. BlumenstockExecutive Vice President, Research, Development, and Engineering$312.5K$1.3M88
2025Gregory F. RedinboExecutive Vice President, Marketing and Applications$312.5K$1.3M88
2024Russell J. LowPresident and Chief Executive Officer$633.0K$4.3M88
2024James G. CooganExecutive Vice President and Chief Financial Officer$485.0K$1.8M88
2024Christopher J. TatnallExecutive Vice President, Global Customer Operations$325.0K$1.1M88
2024Gerald M. BlumenstockExecutive Vice President, Research, Development, and Engineering$325.0K$1.1M88
2024Gregory F. RedinboExecutive Vice President, Marketing and Applications$325.0K$1.1M88
2024Eileen J. EvansExecutive Vice President, HR and Legal, and General Counsel$18.5K$883.4K88
2023Russell J. LowPresident and Chief Executive Officer$633.0K$4.2M88
2023James G. CooganExecutive Vice President and Chief Financial Officer$123.1K$1.3M88
2023Gerald M. BlumenstockExecutive Vice President, Research, Development, and Engineering$181.2K$1.2M88
2023Gregory F. RedinboExecutive Vice President, Marketing and Applications$310.0K$1.1M88
2023Christopher J. TatnallExecutive Vice President, Global Customer Operations$310.8K$898.0K88

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.5,029,462$952.8M0.0%+92,688
Fmr LLC4,125,902$781.7M0.0%+1,694,781
Vanguard Portfolio Management LLC2,478,878$469.6M0.0%−9,415
Vanguard Capital Management LLC1,386,518$262.7M0.0%+3,748
State Street Corp1,231,109$233.2M0.0%+42,064
Victory Capital Management Inc1,134,007$214.8M0.1%−144,998
Reinhart Partners, Llc.928,660$175.9M4.0%−729,085
Geode Capital Management, LLC833,607$158.0M0.0%+22,343
BNP PARIBAS ASSET MANAGEMENT Holding S.A.803,151$152.2M0.2%−202,877
Dimensional Fund Advisors LP709,266$134.3M0.0%−134,831
Balyasny Asset Management L.P.616,196$116.7M0.2%−748,344
Primecap Management Co/ca/610,451$115.6M0.1%−48,201
Invesco Ltd.527,724$100.0M0.0%+362,649
Charles Schwab Investment Management Inc416,230$78.9M0.0%−29,539
Barrow Hanley Mewhinney & Strauss LLC392,240$74.3M0.2%+392,183
Manufacturers Life Insurance Company, The383,760$72.7M0.1%−107,985
Northern Trust Corp382,027$72.4M0.0%−34,676
American Century Companies Inc369,879$70.1M0.0%−582,035
Morgan Stanley366,077$69.4M0.0%−215,559
Boston Trust Walden Corp359,256$68.1M0.5%−19,269
Emerald Advisers, LLC330,469$62.6M1.5%+234,231
UBS Group AG320,891$60.8M0.0%−56,346
Boston Partners303,929$55.7M0.0%−36,346
Goldman Sachs Group Inc235,253$44.6M0.0%−262,371
Vanguard Fiduciary Trust Co220,809$41.8M0.0%+20,344

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Axcelis Technologies is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARAXCELIS TECHNOLOGIES INC2
  • CIK0001113232
  • Employer ID (EIN)34-181859617
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company17
  • Incorporated inDelaware17
  • Fiscal year endsDecember 312
  • Industry code (SIC)3559 Special Industry Machinery, NEC2
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance2
  • Business address108 Cherry Hill Drive, Beverly, MA 019152
  • Phone978-787-40002
  • Shares outstanding30,881,489 as of Aug 3, 202615
  • Public float$2.2B as of Jun 30, 202517
  • AuditorErnst & Young LLP, Boston, Massachusetts PCAOB ID 42; it also attests to the company’s internal control over financial reporting17
  • On EDGAR sinceMay 5, 20002
  • Filings1,621 in all: 4 (857), 8-K (185), SC 13G/A (96), 10-Q (79), 144 (64), 3 (38), 4/A (38), SC 13G (35)2
    All 45 form types

    DEF 14A (26), 10-K (25), ARS (18), UPLOAD (14), SD (13), S-8 (12), SC 13D/A (12), 5 (11), 10-K/A (10), CORRESP (10), DEFA14A (9), 425 (7), SCHEDULE 13G/A (7), EFFECT (6), 424B3 (5), PRE 14A (5), SCHEDULE 13G (5), S-1/A (4), S-3 (4), 3/A (3), 10-Q/A (2), 5/A (2), 8-K/A (2), POS AM (2), S-3ASR (2), SC 13D (2), 10-K405 (1), 15-12G (1), 424B4 (1), 8-A12G (1), DFAN14A (1), NT 10-K (1), S-1 (1), S-3/A (1), S-4 (1), S-4/A (1), S-8 POS (1)

  • Latest filingsAnnual report (10-K) Feb 26, 2026
    Quarterly report (10-Q) Aug 6, 2026
    Proxy statement (DEF 14A) Mar 31, 2026
    Latest 8-K (8-K) Aug 6, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $.001 par valueACLSNasdaq Global Select Market

From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).17

Risk factors and legal proceedings

The risks Axcelis Technologies names in Item 1A of its 10-K filed Feb 26, 2026: 34 risks under these headings, as written.17

  • Risks Related to Our Business and Industry
  • If semiconductor chip manufacturers do not make sufficient capital expenditures, our sales and profitability will be harmed.
  • If we fail to develop and introduce reliable new or enhanced products and services that meet the needs of semiconductor chip manufacturers, our results will suffer.
  • Axcelis is subject to the risks of operating internationally: we derive a substantial portion of our revenue from outside the United States, especially from Asia.
  • The impact of tariffs on our business is difficult to predict, and may change substantially and without notice.
  • Our dependence upon suppliers for many components and sub-assemblies could result in increased costs or delays in the manufacture and sale of our products.
  • A significant portion of our revenue depends on customers electing to buy aftermarket products and services from Axcelis.
  • If we fail to compete successfully in the highly competitive semiconductor capital equipment industry, our sales and profitability will decline.
  • We are dependent on sales to a limited number of large customers; the loss of a significant customer or any reduction in orders from them could materially affect our sales.
  • Our international operations involve currency risk.
  • We may not be able to maintain and expand our business if we are not able to hire, retain and integrate qualified personnel.
  • Our financial results may fluctuate significantly.
The other 23 risks
  • Our financial results may fall short of anticipated levels because forecasting revenue and profitability is complex and may be inaccurate.
  • The semiconductor equipment industry is cyclical, and we expect that demand for our products will increase and decrease, making it difficult to manage the business and potentially causing harm to our sales and profitability.
  • Axcelis is exposed to risks related to cybersecurity threats and incidents.
  • Axcelis is subject to risks associated with compliance with environmental, health and safety regulations.
  • Our financial condition and results of operations could be adversely affected by global pandemics.
  • Our proprietary technology may be vulnerable to efforts by competitors to challenge or design around, potentially reducing our market share.
  • We (or customers that we indemnify) might face intellectual property infringement claims or patent disputes that may be costly to resolve and, if resolved against us, could be very costly to us and prevent us from making and selling our systems.
  • If operations were to be disrupted at Axcelis’ manufacturing facilities, it would have a negative impact on our business.
  • If we do not have access to capital on favorable terms, on the timeline we anticipate, or at all, our financial condition and results of operations could be materially adversely affected.
  • The market price of our common stock may be volatile, which could result in substantial losses for investors.
  • We operate in jurisdictions with complex and changing tax laws.
  • Risks Related to the Merger
  • The exchange ratio is fixed and will not be adjusted in the event of any change in either Axcelis’ or Veeco’s stock price.
  • The Merger may be delayed or may not be completed and the Merger Agreement may be terminated in accordance with its terms, which could materially and adversely effect Axcelis and/or Veeco.
  • The market price for shares of common stock of the combined company following the completion of the merger may be affected by factors different from, or in addition to, those that historically have affected or currently affect the market prices of shares of Axcelis common stock and Veeco common stock.
  • Regulatory approvals may not be received, may take longer than expected or may impose conditions that are not presently anticipated or that cannot be met.
  • Axcelis stockholders and Veeco stockholders will each have reduced ownership and voting interest in the combined company as compared to ownership and voting interest in each of Axcelis and Veeco on a standalone basis.
  • The Merger Agreement may prevent Axcelis and Veeco from entering into certain transactions and taking certain actions that might otherwise be beneficial to Axcelis or Veeco and their respective stockholders
  • Litigation against Axcelis and Veeco could prevent or delay the completion of the Merger or result in the payment of damages following completion of the Merger.
  • Failure to attract, motivate and retain executives and other key employees could diminish the anticipated benefits of the Merger.
  • Whether or not the Merger is completed, the announcement and pendency of the Merger will divert significant management resources to complete the Merger, which could have a material adverse effect on Axcelis’ and Veeco’s respective businesses, financial results, and/or market prices.
  • The market price of the combined company’s common stock may be volatile, and holders of the combined company’s common stock could lose a significant portion of their investment due to decreases in the market price of the combined company’s common stock following completion of the Merger.
  • Each of Axcelis and Veeco will incur significant transaction, merger-related and restructuring costs in connection with the Merger.
  • Axcelis stockholders and Veeco stockholders will not be entitled to appraisal rights in the Merger.

Legal proceedings

We are not presently a party to any litigation that we believe might have a material adverse effect on our business operations. We are, from time to time, a party to litigation that arises in the normal course of our business operations.

The opening of Item 3, Legal Proceedings.17

Sources

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