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23 February 2007


Aviza announces pricing of public offering to raise $24m

Etch and deposition equipment maker Aviza Technology Inc of Scotts Valley, CA, USA has announced the pricing at $6.50 per share of its underwritten public offering on the NASDAQ Global Market of 4,000,000 shares of common stock. The firm expects the offering to close on 28 February.

Aviza estimates the net proceeds to be about $23.9m, or $27.6m if the sole underwriter Needham & Company LLC exercises its option (up to 8 April) to purchase up to 600,000 additional shares to cover over-allotments.

Aviza intends to use the proceeds for working capital, research and development, and other general corporate purposes, which may include repaying borrowings under its mortgage and revolving lines of credit.