ALBUQUERQUE, N.M., Oct. 3, 2012 (GLOBE NEWSWIRE) -- EMCORE Corporation (Nasdaq:EMKR), a leading provider of compound semiconductor-based components and subsystems for the fiber optic and solar power markets, announced today that it closed an underwritten public offering of 1,832,410 shares of common stock at a price to the public of $5.46 per share on October 3, 2012. The closing included all 239,010 shares of common stock subject to the underwriter's overallotment option. The Company plans to use the approximately $9.5 million in net proceeds for general corporate purposes.
B. Riley & Co., LLC acted as sole underwriter for the offering. The offering of these securities will be made only by means of a prospectus and related prospectus supplement, copies of which can be obtained from B. Riley & Co., LLC 11100 Santa Monica Blvd., Suite 800, Los Angeles, California 90025.
A registration statement relating to the shares of common stock issued in this offering has been filed with the Securities and Exchange Commission (SEC) and is effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sales 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.
EMCORE Corporation offers a broad portfolio of compound semiconductor-based products for the fiber optics and solar power markets. EMCORE's Fiber Optics business segment provides optical components, subsystems and systems for high-speed telecommunications, Cable Television (CATV) and Fiber-To-The-Premise (FTTP) networks, as well as products for satellite communications, video transport and specialty photonics technologies for defense and homeland security applications. EMCORE's Solar Photovoltaics business segment provides products for space power applications including high-efficiency multi-junction solar cells, Covered Interconnect Cells (CICs) and complete satellite solar panels. For further information about EMCORE, visit http://www.emcore.com.
This press release contains forward-looking statements that involve risks and uncertainties, including statements related to the Company's public offering of common stock. These forward-looking statements are based upon the Company's current expectations. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of risks and uncertainties, which include, without limitation, risks and uncertainties detailed in EMCORE's filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and EMCORE undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.