Company: AMKR
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001047127-25-000168
Chunk: 171

Company: AMKOR TECHNOLOGY, INC.
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 8
Chunk 171
---
 such receivables and the limits provided by the financial institutions.  These factoring arrangements can be reduced or eliminated at any time due to market conditions and changes in the creditworthiness of customers.  For the six months ended June 30, 2025 and 2024, 

-29-

we sold receivables totaling $25.5 million and $36.1 million, respectively, net of discounts and fees which were insignificant for the respective periods.

We operate in a capital-intensive industry.  Servicing our current and future customers may require that we incur significant operating expenses and make significant investments in equipment and facilities, which are generally made in advance of the related revenues and without firm customer commitments.  

In December 2024, we signed a Direct Funding Agreement with Commerce for the award of up to $407 million in government incentives pursuant to the CHIPS Act, and no funds have been received to date.  The award requires us to achieve construction and production milestones over the next several years.  In addition, we are eligible to receive an investment tax credit on qualified investments in U.S. semiconductor manufacturing under the CHIPS Act.  On July 4, 2025, the OBBBA was enacted in the United States, which includes a provision to increase the investment tax credit rate from 25% to 35% starting in 2026.  For additional information, please refer to Note 1 to our Consolidated Financial Statements in Part I, Item 1 of this Form 10-Q.

On May 9, 2025, we entered into the 2025 Revolving Credit Facility, which replaced our existing revolving credit facility.  The maximum amount available to draw under the 2025 Revolving Credit Facility is $1.0 billion.  The 2025 Revolving Credit Facility includes an uncommitted optional accordion of up to $200.0 million, which may be incurred in the form of revolving commitment increases or term loans.  On June 27, 2025, we amended the 2025 Revolving Credit Facility agreement and created the $500.0 million Term A Loans, which are secured and guaranteed on a pari passu basis to the existing agreement.  In July 2025, a portion of the proceeds will be used to redeem $125.0 million of the Senior Notes and repay the remaining $98.0 million of the AATS Loans.  The 2025 Revolving Credit Facility and Term A Loans will mature on May 9,