Raymond James and Piper Jaffray were bookrunners; Cowen, Roth assisted
By Devika Patel
Knoxville, Tenn., Oct. 23 - Applied Optoelectronics, Inc. said the underwriters for its initial public offering of stock opted to exercise the deal's $5.4 million greenshoe in full for total proceeds of $41.4 million. The deal was announced Aug. 13 and priced for $36 million with the greenshoe on Sept. 26.
The company and selling stockholders sold 4.14 million common shares at $10.00 per share. Of the shares, 540,000 comprised the fully exercised greenshoe.
Raymond James and Piper Jaffray & Co. were the lead joint bookrunning managers.
Proceeds will be used for working capital, capital expenditures and debt repayment.
The provider of fiber-optic networking products is based in Sugar Land, Texas. The company intends to list its common stock on the Nasdaq under the symbol "AAOI."
| Issuer: | Applied Optoelectronics, Inc.
|
| Issue: | Common stock
|
| Amount: | $41.4 million (including $5.4 million greenshoe)
|
| Shares: | 4.14 million
|
| Price: | $10.00
|
| Warrants: | No
|
| Bookrunners: | Raymond James and Piper Jaffray & Co.
|
| Co-managers: | Cowen and Co. and Roth Capital Partners
|
| Announcement date: | Aug. 13
|
| Pricing date: | Sept. 26
|
| Settlement date: | Oct. 23
|
| Stock exchange: | Nasdaq: AAOI
|
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