Company sells 1,593,400 common shares apiece through B. Riley
By Devika Patel
Knoxville, Tenn., Sept. 28 - Emcore Corp. said it priced an $8.7 million public sale of stock with a $1.31 million greenshoe. The deal was announced on Thursday.
The company will sell 1,593,400 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.
B. Riley & Co., LLC is the bookrunning manager.
Settlement is expected on Oct. 3.
Proceeds will be used for general corporate purposes.
Based in Albuquerque, N.M., 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: | $8,699,964
|
| Greenshoe: | $1,304,995
|
| Shares: | 1,593,400
|
| 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: | $163.86 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
