CHAMPAIGN-URBANA, ILLINOIS — April 5, 2001 — EpiWorks today announced that it has raised a total of $13.5 million in new financing. The company reported that $8.5 million in equity financing was raised through an offering of series C preferred stock. The funds were raised to provide additional working capital. Investors in this round of financing include CIBC World Markets, Access Technology Partners, Open Prairie Ventures, and several private investors.
Separately, EpiWorks has also secured more than $5 million in debt financing from Central Illinois Bank and other lenders to expand its new production facility and equipment set.
Advances in compound semiconductors are enabling today’s high-bandwidth, high-frequency communications. “Epitaxial wafer technology is the key to unlocking the price/performance puzzle that is necessary to sustain the strong growth in wireless and fiberoptic communications,” said Dale R. Pfau, managing director, CIBC World Markets. “EpiWorks is a leading innovator in epiwafer technology, and we are pleased and excited to expand our relationship with the company.”
“We believe that EpiWorks has tremendous potential in the advanced semiconductor market,” said Charlie Walker of Access Technology, “and we are please to participate in another round of financing.”
“We are very excited about getting our new facility online and delivering advanced technology to our customers,” said EpiWorks President Quesnell Hartmann. “This round of financing will give us the flexibility we need to meet our customers’ demands and to aggressively grow the company. In addition, we feel this group of investors brings relevant experience and strong ties in the compound semiconductor industry.”