Document
falseSingapore0000056978KULICKE & SOFFA INDUSTRIES INC 0000056978 2020-07-06 2020-07-06


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 
____________________________________________________
 
FORM 8-K
 
____________________________________________________
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
Date of report (Date of earliest event reported): July 6, 2020  
____________________________________________________
KULICKE AND SOFFA INDUSTRIES, INC.
(Exact name of registrant as specified in its charter) 
 ____________________________________________________ 
Pennsylvania
 
000-00121
 
23-1498399
(State or Other Jurisdiction
of Incorporation)
 
(Commission File Number)
 
(I.R.S. Employer
Identification No.)
 


 

 23A Serangoon North Avenue 5, #01-01, K&S Corporate Headquarters, Singapore 554369
(Address of Principal Executive Offices and Zip Code)

Registrant’s telephone number, including area code: (215) 784-6000  
N/A
(Former Name or Former Address, if Changed Since Last Report)
____________________________________________________
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
 
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, Without Par Value
KLIC
The Nasdaq Global Market





Item 8.01     Other Events
On July 6, 2020, Kulicke and Soffa Industries, Inc. (the “Company”) issued a press release announcing that its Board of Directors has increased its share repurchase authorization under the Company’s existing share repurchase program, initiated on August 15, 2017, by an additional $100 million, from $300 million to $400 million, and extended its duration through August 1, 2022. A copy of the press release is included as Exhibit 99.1 to this report.

Item 9.01
Financial Statements and Exhibits.
(d)
Exhibits.
 
 
Exhibit No.
Description
99.1
Press Release dated July 6, 2020
104
Inline XBRL for the cover page of this Current Report on Form 8-K






SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 
KULICKE AND SOFFA INDUSTRIES, INC.
 
 
 
 
Date: July 6, 2020
By:
/s/ LESTER WONG
 
 
Name:
Lester Wong
 
 
Title:
Senior Vice President and Chief Financial Officer
 
 
 
 
 






EXHIBIT INDEX
 
 
Exhibit No.
Description
99.1
104
Inline XBRL for the cover page of this Current Report on Form 8-K



Exhibit
Exhibit 99.1
https://cdn.kscope.io/0bd20af96dc4fc70d12581cf8f2e2217-logoa02a01a01a52.jpg
K&S Corporate Headquarters
Kulicke & Soffa Pte Ltd
23A Serangoon North Ave 5
#01-01, Singapore 554369
 
+65-6880-9600 main
+65-6880-9580 fax
www.kns.com
Co. Regn. No. 199902120H

 Kulicke & Soffa Increases Share Repurchase Authorization by an Additional $100M and Extends Term for Additional Two Years

Singapore – July 6, 2020 - Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC) ("Kulicke & Soffa", "K&S" or the "Company") today announced its Board of Directors increased its current share repurchase program by an additional $100 million, from $300 million to $400 million, and extended its duration through August 1, 2022.
Since the program’s inception in August 2017, through its third fiscal quarter ended June 27, 2020, the Company has repurchased 11.1 million shares for a total value of $249.1 million. Since 2014, 19.3 million shares were cumulatively repurchased for a total value of $349.1 million. Kulicke & Soffa ended its second fiscal quarter with 63.7 million average diluted shares outstanding.
Under the share repurchase program, Kulicke & Soffa may purchase shares of its common stock through open market and privately negotiated transactions at prices deemed appropriate by management. The timing and amount of repurchase transactions under this program will depend on market conditions, availability of US cash as well as other corporate and regulatory considerations. The new authorization is effective immediately and may be suspended or discontinued at any time.
About Kulicke & Soffa
Kulicke & Soffa (NASDAQ: KLIC) is a leading provider of semiconductor and electronic assembly solutions serving the global automotive, consumer, communications, computing and industrial markets. Founded in 1951, K&S prides itself on establishing foundations for technological advancement - creating pioneering interconnect solutions that enable performance improvements, power efficiency, form-factor reductions and assembly excellence of current and next-generation semiconductor devices.
Leveraging decades of development proficiency and extensive process technology expertise, Kulicke & Soffa’s expanding portfolio provides equipment solutions, aftermarket products and services supporting a comprehensive set of interconnect technologies including wire bonding, advanced packaging, lithography, and electronics assembly. Dedicated to empowering technological discovery, always, K&S collaborates with customers and technology partners to push the boundaries of possibility, enabling a smarter future. (www.kns.com)


Contacts:
Kulicke & Soffa Industries, Inc.
 
Marilyn Sim
 
Public Relations
 
P: +65-6880-9309
 
F: +65-6880-9580
 
msim@kns.com
 
Kulicke & Soffa Industries, Inc.
 
Joseph Elgindy
 
Investor Relations
 
P: +1-215-784-7500
 
F: +1-215-784-6180
 
 


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