RTTNews | Dec 27, 2021 10:04AM EST

10:04 Monday, December 27, 2021 (RTTNews.com) - Shares of Alpha and Omega Semiconductor Ltd. (AOSL) reached an all-time high of $58.87 Monday morning. The stock is currently trading at $58.80, up $3.55 or 6.43%, with trading volume of over 159K versus an average volume of 424K shares.

On December 7, 2021, the company announced a transaction related to a sale of about 2.1% of the outstanding equity interest in the joint venture company in Chongqing, China to a third party investor for an aggregate purchase price of RMB 108 million, or about $16.9 million based on the currency exchange rate as of December 1, 2021. The Transaction was closed on December 2, 2021.

AOS is reducing its ownership to below 50% to increase the flexibility of the JV company to raise capital to fund its future expansion. Following the Transaction and the successful ramp up to its Phase I target run rate in the September quarter of 2021, as planned, the JV company intends to raise up to $200 million through private funding rounds for its Phase II expansion.

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