EMCORE Announces Pricing of $15.8 Million Public Offering
17 Agosto 2023 - 8:30AM
EMCORE Corporation (Nasdaq: EMKR) today announced the pricing of an
underwritten public offering of 19,652,174 shares of its common
stock, and, to certain investors, 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 for each 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 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 $15.8
million. The offering is expected to close on or about August 21,
2023, subject to customary closing conditions. In addition, EMCORE
has granted the underwriter a 30-day option to purchase up to an
additional 2,947,826 shares of its common stock in the underwritten
public offering.
Craig-Hallum Capital Group is acting as 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 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 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.
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,” “intend,” “shall,” “may” and similar terms or the
negative of such terms, and include, without limitation, statements
about EMCORE’s expectations regarding the timing, terms, size and
completion of the public offering. 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 Reports on Form 10-Q for the
quarters ended December 31, 2022, March 31, 2023 and June 30, 2023,
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
EMCORE (NASDAQ:EMKR)
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