Semiquest: Article 9 Sale

Transcription

1 Patent Portfolio Overview Semiquest: Article 9 Sale Polishing Pads in Chemical Mechanical Planarization (CMP) of Copper Wafers Mark Thomann mark@pluritas.com (415) ext. 107 Craig Carothers craig@pluritas.com (415) ext. 102 Rob Aronoff rob@pluritas.com (415) ext California Street, Suite 650, San Francisco, California 94111

2 Executive Summary Semiquest Assets Per Security Agreement: All right, title, interest, claims and demands of Company in and to all patents, patent rights (and applications and registrations therefor), trademarks and service marks (and applications and registrations therefor), inventions, copyrights, mask works (and applications and registrations therefor), trade names, trade styles, software and computer programs, trade secrets, methods, processes, know how, drawings, specifications and descriptions. Semiquest Patent Portfolio Benefits 5 issued US patents (Earliest Priority: November 29, 2004) 7 Pending US applications Foreign Equivalents Patents relate to unique polishing pads for use in chemical mechanical planarization (CMP) of copper wafers Directly applicable to the multi-billion dollar CMP pads market Semiquest s proprietary pad design enables a 2X improvement in both process performance and cost of ownership over traditional polishing pads Encumbrances Single licensee details available under NDA 2

3 Diligence Materials Diligence Resources The online data room at provides the following information for download: Diligence Guide Copy of the Press Release Bidding Instructions Public Sale Agreement ( PSA ) Semiquest Patent Portfolio Overview Semiquest Patent Listing as Understood by Pluritas List of Possible Semiquest Trade Secrets Copies of the Patents Copies of the Patent Applications Copies of the Patent File Histories UCC Recording Document USPTO Semiquest Recording Document Semiquest Security Agreement 3

4 Article 9 Overview SemiQuest Basis for Sale In August 2007, Semiquest executed a Security Agreement in favor of 3M Innovative Properties Company ( 3M ) The intellectual property assets of Semiquest, including patents, trade secrets, know-how and more, ( Semiquest IP ) were provided as collateral for a promissory note 3M has foreclosed on the Semiquest IP leading to the present Article 9 sale Process The Semiquest IP as set forth in the Security Agreement are included in the sale The Security Agreement and corresponding UCC Lien are available in the virtual data room 4

5 Company Overview SemiQuest Semiquest Business Description Semiquest was founded by Rajeev Bajaj, Ph.D. in 2005 who is a pioneer in the CMP field Dr. Bajaj has 15 years experience in CMP development Semiquest s CEO is Stephen Fisher, who has 25 years experience in the semiconductor equipment industry and 10 years in CMP development Funding Semiquest last round of funding was for $3.67 million and was led by Intel Capital and other individuals 5

6 Exemplary Subject Matter Semiquest s Technology Semiquest s proprietary pad technology offers more uniform results over traditional stacked pads Semiquest Illustration. 6

7 Exemplary Subject Matter (Cont.) Benefits Semiquest s proprietary pad technology offers many benefits such as longer pad life and better stability, etc. Semiquest Illustration. 7

8 Market Participants Representative Market Participants 1 Pad Manufacturers 1 Representative market participants. Not an opinion, claim, or representation as to infringement. 8

9 Market Share 1 Source: Techcet Group. 1 Representative market participants. Not an opinion, claim, or representation as to infringement. 9

10 Market Trends (Cont.) Growth of CMP Pads Market Source: Techcet Group. 10

11 Patent Analytics Semiquest s US IP Portfolio First IPC Code B23H Descrip0on Working of metal by the ac7on of a high concentra7on of electric current on a workpiece using an electrode which takes the place of a tool; Such working combined with other forms of working of metal B24B B24D C25F Machines, devices, or processes for grinding or polishing; Dressing or condi7oning of abrading surfaces; Feeding of grinding, polishing, or lapping agents Tools for grinding, buffing, or sharpening Processes for the electroly7c removal of materials from objects; Apparatus therefor 11

12 Opportunity Overview Semiquest IP For Sale! See Document: Semiquest Patent Listing as Understood by Pluritas for more information 5 issued US patents plus 7 pending US applications Foreign coverage in: China Europe Korea Singapore Taiwan Single licensee details available under NDA Other Non-Patent IP is included in sale The US Assets are believed to include:! US 7,530,880 (Priority: 11/29/2004) US 7,815,778 (Priority: 11/23/2005) US 7,846,008 (Priority: 11/29/2004) US 8,066,555 (Priority: 9/3/2007) US 8,075,745 (Priority: 11/29/2004) US 11/562,346 (Filed: 11/21/2006) US 12/141,876 (Filed: 6/18/2008) US 12/431,119 (Filed: 4/28/2009) US 12/431,515 (Filed: 4/28/2009) US 12/616,323 (Filed: 11/11/2009) US 12/991,097* (Filed: 2/28/2011) US 13/162,508 (Filed: 6/16/2011) Market Application and Strategic Opportunity! Leading exemplary vendors: Dow Electronics, Cabot Microelectronics, JSR, Thomas West, InnoPad, 3M, Lam Research, Praxair, Brucker, Fujibo, BASF, Entegris, Nexplanar, Toray, Asahi Glass, Kao, Applied Materials, ATMI, Hitachi, KC Tech, Novellus, Mipox, Toyo, IVT Tech, etc. (Representative market participants. Not an opinion, claim, or representation as to infringement.) * Note: This patent application (12/991,097) is jointly owned by Semiquest and 3M. The above patent asset list does not include abandoned applications. 12

13 Assets Available Through Article 9 Sale 13

14 US Patent No. 7,530,880 Representative Claim Claim 880 Patent, Claim 1 A polishing pad assembly, comprising: a guide plate having a plurality of holes therein and being affixed to a compressible under-layer; and a plurality of polishing elements, at least one of which includes pressure monitoring sensors and each polishing element is affixed to the compressible under-layer and passing through a corresponding hole in the guide plate so as to be maintained in a substantially vertical orientation with respect to the compressible under-layer but being translatable in a vertical direction with respect to the guide plate in order to contact and polish workpiece. 14

15 US Patent No. 7,815,778 Representative Claim Claim 778 Patent, Claim 1 A polishing pad, comprising at least one conductive polishing element supported by a compressible under layer having conductive patterning therein, the conductive patterning adapted to permit coupling of a potential to the conductive polishing element; a guide plate above the compressible under layer, the guide plate having a hole through which the polishing element passes and further having a cathodic element connected thereto; and a slurry distribution layer adhered to the guide plate opposite the compressible under layer. 15

16 US Patent No. 7,846,008 Representative Claim Claim 008 Patent, Claim 1 A polishing pad, comprising: a guide plate having affixed thereto a porous slurry distribution layer on one side and a compressible underlayer on opposite side; and a plurality of polishing elements interdigitated with one another through the slurry distribution layer and the guide plate so as to be maintained in planar orientation with respect to one other and the guide plate, each polishing element being affixed to the compressible under-layer and protruding above a surface of the guide plate to which the slurry distribution layer is adjacent. 16

17 US Patent No. 8,066,555 Representative Claim Claim 555 Patent, Claim 1 A polishing pad, comprising a plurality of polishing elements, each of the polishing elements secured so as to restrict lateral movement thereof with respect to others of the polishing elements, but remaining moveable in an axis normal to a polishing surface of the polishing elements, and a compressible under layer, each of the polishing elements being secured to the compressible under layer and protruding above a top surface of the compressible under layer, wherein the polishing elements are secured to the compressible under layer using one or more of the following clamps: L -shaped clamps, T -shaped clamps, or torus-shaped clamps. 17

18 US Patent No. 8,075,745 Representative Claim Claim 745 Patent, Claim 1 A polishing pad, comprising: a guide plate having a plurality of holes therein and being affixed to a compressible under-layer; and a plurality of conducting polishing elements each affixed to the compressible under-layer and passing through (i) a proton exchange membrane with a sealed contact and (ii) a corresponding hole in the guide plate so as to be maintained in a substantially vertical orientation with respect to the compressible under-layer but being translatable in a vertical direction with respect to the guide plate. 18

19 Transaction Parameters and Objectives Article 9 Sale: Sold As-Is without any Representations or Warranties Details set forth in Public Purchase Agreement (PSA) available in virtual data room: Single licensee details available under NDA 19

20 Transaction Timeline Plan February 21, 2012: Semiquest Article 9 Sale Launch April 10, 2012: Non-binding letters of intent due April 11 17, 2012: Bids will be reviewed with Q&A April 18, 2012: Qualified acquirers are selected and notified April 23, 2012: Qualified acquirers are required to execute the PSA and provide a 10% deposit April 24, 2012: Sale of Semiquest assets to be conducted at Pluritas Headquarters at 10am Pacific Time. Potential bidders may also participate via teleconference. Closing and Funding at the conclusion of the Auction per the PSA 20

21 Diligence Resources Available Diligence Resources The online data room at provides the following information for download: Diligence Guide Copy of the Press Release Bidding Instructions Public Sale Agreement ( PSA ) Semiquest Patent Portfolio Overview Semiquest Patent Listing as Understood by Pluritas List of Possible Semiquest Trade Secrets Copies of the Patents Copies of the Patent Applications Copies of the Patent File Histories UCC Recording Document USPTO Semiquest Recording Document Semiquest Security Agreement Technical and IP Diligence calls are available with Pluritas experts who have completed reviews of the IP assets and are knowledgeable about the markets to which they apply 21

22 For More Information For more information please contact: Rob Aronoff Managing Partner (415) x101 Mitch Rosenfeld Partner (415) x103 Mark Thomann Partner (415) x107 Craig Carothers General Counsel (415) x102 22

23 Pluritas Profile Pluritas is a transaction advisory firm specializing in divestitures, acquisitions, and mergers where Intellectual Property (IP) is a major component of the transaction. We provide arms-length sell side transaction services to all owners of IP assets. We provide arms-length buy side transaction services to a select group of Corporate Clients. We expertly navigate the risks and nuances for all parties involved with transacting IP, yielding a 'safer' and more comfortable transaction climate for all participants. We also strongly differentiate ourselves by our track record of success, as well as by integrating seasoned professionals with deep industry, technical and IP expertise into every engagement. 23

24 NOTICE THIS PRESENTATION DOES NOT CONSTITUTE AN OFFER FOR SALE OF ASSETS OR SECURITIES FOR SEMIQUEST OR AN OFFER FOR, OR SOLICITATION OF, A LICENSE OF ANY KIND. IN MAKING A DECISION REGARDING THE SEMIQUEST OPPORTUNITY, POTENTIAL PURCHASERS MUST RELY ON THEIR OWN EXAMINATION OF THE INTELLECTUAL PROPERTY RIGHTS AND OTHER ASSETS INCLUDING BUT NOT LIMITED TO THE TITLE, VALUE, MERITS AND RISKS INVOLVED. THERE IS NO ASSURANCE THAT THESE INTELLECTUAL PROPERTY RIGHTS WILL BE UPHELD. PLURITAS MAKES NO REPRESENTATION CONCERNING THE VALIDITY OF THE INTELLECTUAL PROPERTY HEREIN. ADDITIONALLY, THESE MATERIALS ARE SOLELY ATTRIBUTABLE TO PLURITAS AND DO NOT NECESSARILY REPRESENT THE VIEWS OR OPINIONS OF SEMIQUEST. NOTHING IN THIS DOCUMENT SHALL CONSTITUTE OR BE INTERPRETED AS LEGAL ANALYSIS REGARDING THE SCOPE OF THE PATENTS OR OTHER INTELLECTUAL PROPERTY RIGHTS. SIMILARLY, NOTHING INCLUDED IN THIS DOCUMENT SHALL BE USED TO INTERPRET, DEFINE, OR OTHERWISE LIMIT THE SCOPE AFFORDED THE ASSOCIATED INTELLECTUAL PROPERTY RIGHTS. 24