Yorkville Advisors, the US based investment manager to a family of funds, has executed a SGD10m equity line facility with Advanced Integrated Manufacturing.
Under the terms of the facility, AIM may issue ordinary shares to Yorkville in tranches based on certain criteria at any time over a 36 month period for up to a total of SGD10m.
The investment was sourced out of Hong Kong and made by YA Global Master SPV, a Yorkville affiliated fund.
AIM is a Singapore Exchange Main Board listed company which is headquartered in Singapore with manufacturing facilities located in Singapore, Bintan (Indonesia) and Penang (Malaysia). It is an integrated electronics manufacturing services (EMS) provider specialising in medium to high-end applications such as performance-critical printed circuit board assembly, box-build assembly and electromechanical subassembly; fibre-optics termination, and ancillary value-added services in supply chain management and after-sales services.
The company primarily serves the aerospace-avionics, medical/life and analytical sciences, and electronics data storage and semi-conductor sectors. The company intends to use the funds for working capital and general corporate purposes.
“We are pleased to become a capital partner to AIM Corp, an EMS provider with more than 15 years experience in high-end full turnkey assembly segment and assist in their continued growth,” says Anthony Chan, managing director and head of Asia at Yorkville HK. “The company is the preferred EMS partner of choice for leading MNCs for its core products and has continued to demonstrate strong underlying strategic growth potential.”
“AIM Corp is rapidly securing larger projects and orders from key global customers, which requires a committed capital partner such as Yorkville to supplement our funding needs. The capital commitment under the ELF will serve to enhance AIM Corp’s capacity to expand its operating capabilities and deliver its strategic objectives,” says Dr. Vincent Tan, group chairman and chief executive officer of AIM.