Company sells 2.5 million common shares through underwriter B. Riley
By Devika Patel
Knoxville, Tenn., Sept. 13 - Emcore Corp. said it priced a $10.75 million public sale of stock with a $1.61 million greenshoe.
The company will sell 2.5 million common shares at $4.30 apiece. The price per share is a 9.09% discount to the Sept. 12 closing share price of $4.73.
B. Riley & Co., LLC is the underwriter.
Settlement is expected on Sept. 18.
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: | $10.75 million
|
| Greenshoe: | $1,612,500
|
| Shares: | 2.5 million
|
| Price: | $4.30
|
| Warrants: | No
|
| Underwriter: | B. Riley & Co., LLC
|
| Pricing date: | Sept. 13
|
| Settlement date: | Sept. 18
|
| Stock symbol: | Nasdaq: EMKR
|
| Stock price: | $4.73 at close Sept. 12
|
| Market capitalization: | $121.37 million
|
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