AEM Holdings Ltd (AWX) said on Mar, 21 2026 that it has entered a strategic partnership with ASE Technology Holding Co., Ltd. (3711) to co-develop semiconductor test solutions for artificial intelligence and high-performance computing applications.

Under the agreement, a wholly owned ASE subsidiary will subscribe for 3.35 million new AEM shares at 3.591 Singapore dollars per share, raising about 12 million Singapore dollars and representing 1.06 % of AEM’s existing issued capital.

ASE will also receive 28.112 million free detachable warrants in two equal tranches. The first tranche is exercisable at 103 % of AEM’s volume-weighted average price on the signing date, and the second at 105 %, with both tranches subject to ASE-linked revenue targets. Full exercise would add a further 8.935 % to AEM’s current share base.

Proceeds will fund AEM’s expansion in Taiwan and integration of its high-parallel test architectures and advanced thermal management technologies into ASE’s manufacturing and test facilities. The companies will jointly pursue go-to-market programmes aimed at next-generation AI and HPC devices, including multi-chiplet and advanced system-in-package designs.

Completion of the placement and warrant issue is conditional on approval from the Singapore Exchange for the listing and quotation of the new shares.