EMCORE Announces Pricing of $31.2 Million Public Offering of Common Stock
February 10 2021 - 11:08PM
EMCORE Corporation (Nasdaq: EMKR) today announced the pricing of an
underwritten public offering of 5,787,037 shares of its common
stock at a price to the public of $5.40 per share. All of the
shares in the offering are being sold by EMCORE. The gross proceeds
to EMCORE from the offering, before deducting the underwriting
discounts and commissions and other offering expenses, are expected
to be approximately $31.2 million. The offering is expected to
close on or about February 16, 2021, subject to customary closing
conditions. In addition, EMCORE has granted the underwriters a
30-day option to purchase up to an additional 868,056 shares of its
common stock at the public offering price, less underwriting
discounts and commissions.
Cowen is acting as book-running manager and Craig-Hallum Capital
Group is acting as co-manager for the offering.
A shelf registration statement (File No. 333-235818) relating to
the shares was previously filed with the Securities and Exchange
Commission (the “SEC”) and became effective on January 27, 2020.
The offering will be made only by means of a written prospectus and
prospectus supplement that form a part of the registration
statement. Copies of the preliminary prospectus supplement and
accompanying prospectus relating to the offering may be obtained,
when available, by contacting: Cowen and Company, LLC, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
New York 11717, Attn: Prospectus Department, by telephone at (833)
297-2926, or by email at PostSaleManualRequests@broadridge.com, or
Craig-Hallum Capital Group, 222 South Ninth Street, Suite 350,
Minneapolis, MN 55402, Attn: Equity Capital Markets, telephone:
612-334-6300 or by email atprospectus@chlm.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About EMCORE Corporation
EMCORE Corporation is a leading provider of advanced
mixed-signal products that serve the aerospace & defense and
broadband communications markets. Our best-in-class components and
systems support a broad array of applications including navigation
and inertial sensing, defense optoelectronics, broadband transport,
5G wireless infrastructure, optical sensing, and cloud data
centers. We leverage industry-leading Quartz MEMS, Indium
Phosphide, and Lithium Niobate chip-level technology to deliver
state-of-the-art component and system-level products across our
end-market applications. EMCORE has vertically-integrated
manufacturing capability at its wafer fabrication facility in
Alhambra, CA, and Quartz MEMS manufacturing facility in Concord,
CA. Our manufacturing facilities maintain ISO 9001 quality
management certification, and we are AS9100 aerospace quality
certified at our facility in Concord. For further information about
EMCORE, please visit http://www.emcore.com.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements may be identified by use of terms such as
“will,” “expect,” “shall,” and similar terms or the negative of
such terms, and include, without limitation, statements about the
Company’s expectations regarding the completion, terms, size, and
timing of the public offering, and with respect to granting the
underwriters a 30-day option to purchase additional shares. Actual
results or developments may differ materially from those projected
or implied in these forward-looking statements. Factors that may
cause such a difference include risks and uncertainties related to
completion of the public offering on the anticipated terms or at
all, market conditions and the satisfaction of customary closing
conditions related to the public offering. More information about
the risks and uncertainties faced by EMCORE is contained in the
section captioned “Risk Factors” in the prospectus supplement
related to the public offering and from time to time in the
Company’s Securities and Exchange Commission filings, including its
Annual Report on Form 10-K for the fiscal year ended September 30,
2020, its Quarterly Report on Form 10-Q for the quarter ended
December 31, 2020, as well as subsequent SEC filings. The
forward-looking statements contained in this release are as of the
date of this release, and the Company does not undertake any
obligation to update any such statements, whether as a result of
new information, future events or otherwise.
Investor Contacts
EMCORE CorporationTom Minichiello(626)
293-3400investor@emcore.com
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