AEM Holdings Ltd. (AWX) said on Mar, 21 2026 that it has signed a subscription agreement with Advanced Semiconductor Engineering Test, Inc., an indirect wholly-owned unit of ASE Technology Holding Co., Ltd.
The deal calls for the subscriber to buy 3.35 million new AEM shares at 3.591 Singapore dollars each, raising about 12.0 million Singapore dollars. The new shares will account for roughly 1.05 percent of AEM’s enlarged share capital and will be subject to a six-month lock-up.
Alongside the shares, AEM will issue 28.111856 million free detachable warrants in two equal tranches. Tranche 1 warrants carry an exercise price of 4.1097 Singapore dollars and may be exercised within 36 months once at least 30 million Singapore dollars of qualified revenue is achieved. Tranche 2 warrants have an exercise price of 4.1895 Singapore dollars, a five-year life, and may be exercised after qualified revenue reaches 50 million Singapore dollars. Full exercise of all warrants would raise up to 117 million Singapore dollars and bring the subscriber’s combined shares and warrant shares to about 9.09 percent of AEM’s issued stock.
Gross proceeds from the share sale and full warrant exercise could total about 129 million Singapore dollars. AEM plans to use the funds to expand its operations in Taiwan, integrate its high-parallel test and thermal management technologies into ASE’s manufacturing and test environments, advance its product roadmap, and accelerate joint go-to-market efforts targeting next-generation artificial-intelligence and high-performance-computing applications.
Completion of the placement is subject to Singapore Exchange approval and other customary conditions. For as long as the subscriber holds at least 5 percent of AEM’s shares, it will be entitled to nominate one director to the board.
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