Company sells 1,832,410 common shares at $5.46 apiece through B. Riley
By Devika Patel
Knoxville, Tenn., Oct. 3 - Emcore Corp. said it completed a $10.01 million public sale of stock. The deal was announced Sept. 27 and priced for $8.7 million with a $1.31 million greenshoe on Sept. 28.
The company sold 1,832,410 common shares at $5.46 apiece. The price per share is a 6.99% discount to the Sept. 27 closing share price of $5.87. Of the shares, 239,010 were part of the fully exercised greenshoe.
B. Riley & Co., LLC was the sole bookrunning manager.
Proceeds will be used for general corporate purposes.
Based in Albuquerque, Emcore is a provider of compound semiconductor-based components and subsystems for the broadband, fiber optic, satellite and solar power markets.
| Issuer: | Emcore Corp.
|
| Issue: | Common shares
|
| Amount: | $10,004,959 (including $1,304,995 greenshoe)
|
| Shares: | 1,832,410
|
| Price: | $5.46
|
| Warrants: | No
|
| Bookrunner: | B. Riley & Co., LLC
|
| Announcement date: | Sept. 27
|
| Pricing date: | Sept. 28
|
| Settlement date: | Oct. 3
|
| Stock symbol: | Nasdaq: EMKR
|
| Stock price: | $5.87 at close Sept. 27
|
| Market capitalization: | $131.85 million
|
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