Monitor daily trading volumes and any 8-K filings reporting actual ATM sales. If the company sells a significant portion quickly, it could pressure the stock. Conversely, if sales are slow or proceeds are used for accretive M&A, the overhang may diminish. The stock's strong recent performance (up ~23% in prior month) may provide a favorable window for the company to execute sales.
Price Chart
Executive Summary
Ultra Clean Holdings filed a 424B5 prospectus supplement to establish an at-the-market (ATM) equity offering of up to $400 million in common stock. The company may sell shares from time to time through UBS, Barclays, Craig-Hallum, and Oppenheimer at prevailing market prices, with proceeds earmarked for general corporate purposes including working capital, product development, and potential acquisitions. The offering represents potential dilution of approximately 9.5% of current market cap and introduces ongoing overhang risk.
Key Facts
- Maximum aggregate offering price of $400,000,000 in common stock via ATM program.
- Sales agents include UBS, Barclays, Craig-Hallum, and Oppenheimer; commission up to 3.0% of gross sales price.
- Proceeds for general corporate purposes; no specific acquisition plans disclosed.
- Stock closed at $92.91 on August 13, 2026; market cap ~$4.2B.
- Short interest of 3.3M shares (~7.4% of estimated shares outstanding) as of July 31, 2026.
Financial Impact
Potential dilution of up to ~4.3M shares at current price (~9.5% of shares outstanding), with net proceeds reduced by ~$12M in commissions at maximum.
Risk Factors
- Dilution from up to $400M in new shares could pressure EPS and stock price.
- At-the-market sales at prevailing prices create uncertainty and potential downward drift.
- No specific use of proceeds; management discretion may not align with shareholder interests.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0000950103-26-012378 |
| Document: dp251730_exfilingfees.htm | 0000950103-26-012378 |
| Document: 0000950103-26-012378-index-headers.html | 0000950103-26-012378 |
| Document: 0000950103-26-012378-index.html | 0000950103-26-012378 |
| Document: 0000950103-26-012378.txt | 0000950103-26-012378 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 14, 2026 7w ago | 8-K | $84.93 $66.39 | ▲ +21.83% | ▲ +19.84% | $76.30 (+10.16%) |
Aug 14, 2026 7w ago | 424B5 | $84.93 $66.39 | ▲ +21.83% | ▲ +19.84% | $76.30 (+10.16%) |
Aug 3, 2026 8w ago | Press Release | $84.54 $65.11 | ▼ −22.98% | ▼ −21.75% | $76.30 (−9.75%) |
Jun 9, 2026 16w ago | Insider Cluster | $90.90 $106.19 | ▲ +16.82% | ▲ +13.20% | $76.30 (−16.06%) |
Jun 9, 2026 16w ago | Insider Cluster | $90.90 $106.19 | ▲ +16.82% | ▲ +13.20% | $76.30 (−16.06%) |
Jun 8, 2026 16w ago | Insider Cluster | $91.88 $90.78 | ▼ −1.20% | ▼ −2.64% | $76.30 (−16.96%) |
Jun 4, 2026 17w ago | Insider Cluster | $82.07 $105.53 | ▲ +28.59% | ▲ +26.72% | $76.30 (−7.03%) |
May 27, 2026 18w ago | 144 | $87.29 $118.82 | ▲ +36.12% | ▲ +39.27% | $76.30 (−12.59%) |
May 19, 2026 19w ago | Insider Cluster | $76.98 $111.61 | ▲ +44.99% | ▲ +44.00% | $76.30 (−0.88%) |
May 1, 2026 21w ago | 10-Q/A | $73.11 $84.70 | ▲ +15.85% | ▲ +10.21% | $76.30 (+4.36%) |
US Market Status
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