Current Report Filing (8-k)
February 28 2020 - 4:45PM
Edgar (US Regulatory)
0001158114
false
0001158114
2020-02-27
2020-02-28
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported): February 28, 2020
Applied Optoelectronics, Inc.
(Exact name of registrant as specified
in its charter)
Delaware
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001-36083
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76-0533927
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(State or other jurisdiction of
incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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13139 Jess Pirtle Blvd.
Sugar Land, Texas
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77478
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(Address of principal executive offices)
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(Zip Code)
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(281) 295-1800
(Registrant’s telephone number,
including area code)
Not
Applicable
(Former name or former address, if changed
since last report)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(see General Instruction A.2. below):
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
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Trading Symbol(s)
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Trading Name of each exchange on which registered
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Common Stock, Par value $0.001
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AAOI
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NASDAQ Global Market
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Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
o
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 1.01. Entry into a Material Definitive Agreement.
On February 28, 2020, Applied Optoelectronics,
Inc. (the “Company”) entered into an Equity Distribution Agreement (the “Agreement”) with Raymond James & Associates, Inc. (the “Sales Agent”) pursuant to which the Company may issue and sell shares of the Company’s
common stock, par value $0.001 per share (the “Shares”) having an aggregate offering price of up to $55 million from
time to time through the Sales Agent.
Upon delivery of a placement notice and
subject to the terms and conditions of the Agreement, sales, if any, of the Shares will be made through the Sales Agent in transactions
that are deemed to be “at the market” offerings as defined in Rule 415 of the Securities Act of 1933, as amended (the
“Securities Act”), including sales made through the facilities of the Nasdaq Global Market, the principal trading market
for the Company’s common stock, on any other existing trading market for the Company’s common stock, to or through
a market maker or as otherwise agreed by the Company and the Sales Agent. In the placement notice, the Company will designate the
maximum number of Shares to be sold through the Sales Agent, the time period during which sales are requested to be made, the minimum
price for the Shares to be sold, and any limitation on the number of Shares that may be sold in any one day. Subject to the terms
and conditions of the Agreement, the Sales Agent will use its commercially reasonable efforts to sell Shares on the Company’s
behalf up to the designated amount specified in the placement notice. The Company has no obligation to sell any Shares under the
Agreement and may at any time suspend offers and sales of the Shares under the Agreement.
The Agreement provides that the Sales Agent
will be entitled to compensation of up to 2% of the gross sales price of the Shares sold through the Sales Agent from time to
time. The Company has also agreed to reimburse the Sales Agent for certain specified expenses in connection with the registration
of Shares under state blue sky laws and any filing with, and clearance of the offering by, the Financial Industry Regulatory Authority
Inc., not to exceed $10,000 in the aggregate, and any associated application fees incurred. Additionally, if the Agreement is terminated
under certain circumstances, and the Company fails to sell a minimum amount of the Shares as set forth in the Agreement, then the
Company has agreed to reimburse the Sales Agent for reasonable out-of-pocket expenses, including the reasonable fees and disbursements
of counsel incurred by the Sales Agent, up to a maximum of $30,000 in the aggregate. The Company agreed to indemnify the Sales
Agent against certain liabilities, including liabilities under the Securities Act, or to contribute to payments that the Sales
Agent may be required to make because of any of those liabilities.
The offering pursuant to the Agreement will
terminate upon the sale of all Shares subject to the Agreement. The Agreement may also be terminated by the Company or by the Sales
Agent at any time.
The Shares to be issued and sold have been
registered under the Securities Act, pursuant to the Company’s shelf registration statement on Form S-3 (Registration No.
333-234310) (the “Registration Statement”), which was declared effective by the Securities and Exchange Commission
on January 9, 2020, including the prospectus contained therein, as supplemented by the prospectus supplement filed with the Securities
and Exchange Commission pursuant to Rule 424(b) under the Securities Act on February 28, 2020.
The foregoing description of the Agreement
does not purport to be complete and is qualified in its entirety by reference to the complete text of the Agreement, which is filed
as Exhibit 1.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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APPLIED OPTOELECTRONICS, INC.
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Date: February 28, 2020
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By:
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/s/ David C. Kuo
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Name:
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David C. Kuo
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Title:
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General Counsel and Secretary
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