Needham was bookrunner; Craig-Hallum, B. Riley were the co-managers
By Devika Patel
Knoxville, Tenn., June 1 – Neophotonics Corp. said the underwriters for its public offering of stock opted to exercise the deal’s $6.49 million greenshoe in full, lifting total proceeds of the offering to $49.78 million. The deal was announced Dec. 19, 2014 and priced for $43.29 million on May 21.
The company sold 6,866,689 shares at $7.25 each. The price per share reflects a 4.86% discount to the May 20 closing share price. Of the shares, 895,655 were part of the fully exercised greenshoe.
Needham & Co. was the bookrunner.
Proceeds will be used for working capital, to expand the company’s business and for general corporate purposes.
The San Jose, Calif., company develops, manufactures and sells optoelectronic products.
| Issuer: | Neophotonics Corp.
|
| Issue: | Common stock
|
| Amount: | $49,783,495, including $6,493,500 greenshoe of 895,655 shares
|
| Shares: | 6,866,689
|
| Price: | $7.25
|
| Warrants: | No
|
| Bookrunner: | Needham & Co.
|
| Co-managers: | Craig-Hallum Capital Group LLC and B. Riley & Co.
|
| Announcement date: | Dec. 19, 2014
|
| Pricing date: | May 21
|
| Settlement date: | June 1
|
| Stock symbol: | NYSE: NPTN
|
| Stock price: | $7.62 at close May 20
|
| Market capitalization: | $295.42 million
|
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