EMCORE Announces Pricing of $17 Million Public Offering of Common Stock
16 February 2023 - 12:59AM
EMCORE Corporation (Nasdaq: EMKR) today announced the pricing of a
public offering of 15,454,546 shares of its common stock at a price
of $1.10 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 placement agent fees and other offering
expenses, are expected to be approximately $17 million. The
offering is expected to close on or about February 17, 2023,
subject to customary closing conditions.
A.G.P./Alliance Global Partners is acting as sole placement
agent for the offering on a best-efforts basis.
A shelf registration statement on Form S-3 (File No. 333-256090)
relating to the shares was previously filed with the Securities and
Exchange Commission (the “SEC”) and became effective on May 20,
2021. 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 base prospectus relating to the
offering have been filed with the SEC, and the final prospectus
supplement will be filed with the SEC and will be available on the
SEC's website located at http://www.sec.gov. Electronic copies of
the final prospectus supplement may be obtained, when available,
from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th
Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by
email at prospectus@allianceg.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 and defense,
communications, and sensing markets. Our best-in-class components
and systems support a broad array of applications including
navigation and inertial sensing, defense optoelectronics, broadband
communications, optical sensing, and specialty chips for telecom
and data centers. We leverage industry-leading Photonic Integrated
Chip (PIC), Quartz MEMS, Lithium Niobate, and Indium Phosphide
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, Budd Lake, NJ, Concord, CA
and Tinley Park, IL. Our manufacturing facilities maintain ISO 9001
quality management certification, and we are AS9100 aerospace
quality certified at our facilities in Budd Lake and 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
EMCORE’s expectations regarding the timing, size and completion of
the proposed offering and other information that is not historical
information. 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 EMCORE’s SEC filings, including its Annual Report
on Form 10-K for the fiscal year ended September 30, 2022, its
Quarterly Report on Form 10-Q for the quarter ended December 31,
2022, as well as subsequent SEC filings. The forward-looking
statements contained in this release are as of the date of this
release, and EMCORE 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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