Note 13 - Subsequent Event

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Subsequent Events [Text Block]

13. Subsequent Event

EQT Acquisition

On October 2, 2023, we completed the acquisition of all of the outstanding share capital of Equiptest Engineering Pte Ltd. (“EQT”), pursuant to a Share Purchase Agreement dated October 2, 2023, by and among EQT and its shareholders, and Cohu Interface Solutions LLC., a wholly owned subsidiary of Cohu (the “Acquisition”). EQT is a provider of semiconductor test contactors and other test consumables. On October 2, 2023, we made a cash payment totaling 66.0 million Singapore dollars for EQT. The Acquisition is a cash free debt free transaction and is subject to a working capital adjustment for the difference between the actual and estimated net working capital. In connection with the Acquisition, we incurred approximately $0.8 million in acquisition-related costs, which were expensed as selling, general and administrative costs during the course of fiscal 2023.