EMCORE Announces Closing of $17.25 Million Public Offering
22 August 2023 - 9:30PM
EMCORE Corporation (Nasdaq: EMKR) today announced the closing of
its underwritten public offering of 22,600,000 shares of its common
stock, which includes the full exercise of the underwriter’s option
to purchase an additional 2,947,826 shares of its common stock, and
pre-funded warrants to purchase 11,900,000 shares of its common
stock. The offering price to the public in the offering was $0.50
per share of common stock and $0.49999999 per pre-funded warrant,
which represents the per share public offering price for the common
stock less the $0.00000001 per share exercise price for each such
pre-funded warrant. All of the shares and warrants in the offering
were sold by EMCORE. The gross proceeds to EMCORE from the
offering, before deducting the underwriting discounts and
commissions and other offering expenses, were $17.25 million.
Craig-Hallum Capital Group acted as the sole managing
underwriter for the offering.
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 was made only by means of a written prospectus
and prospectus supplement that form a part of the registration
statement. Copies of the final prospectus supplement and
accompanying prospectus relating to the offering may be obtained by
contacting: Craig-Hallum Capital Group LLC, Attention: Equity
Capital Markets, 222 South 9th Street, Suite 350, Minneapolis,
Minnesota 55402, by telephone at (612) 334-6300, or by email at
prospectus@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 inertial navigation
products for the aerospace and defense markets. We leverage
industry-leading Photonic Integrated Chip (PIC), Quartz MEMS, 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 facilities 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 Alhambra,
CA, Budd Lake, NJ, and Concord, CA.
Investor Contacts
EMCORE CorporationTom Minichiello(626)
293-3400investor@emcore.com
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