18 March 2010


Finisar boosts public offering of common stock to yield $121m

Fiber-optic communications component and subsystem maker Finisar Corp of Sunnyvale, CA, USA has priced the public offering of its common stock (announced on 15 March) at a price to the public of $14 per share. The firm has also increased the size of the offering from 7,200,000 shares to 8,640,000 shares, to yield total gross proceeds of $121m. The offering is expected to close on 23 March (subject to customary closing conditions).

Finisar has also granted the underwriters a 30-day option to purchase up to an additional 1,147,093 shares (an increase from the 931,093 announced on 15 March), and certain selling stockholders have granted the underwriters an option to purchase up to an additional 148,907 shares, solely to cover over-allotments, if any. Finisar will not receive any proceeds from any sale of shares by the selling stockholders.

A shelf registration statement for the offering (including a base prospectus) has been filed with the US Securities and Exchange Commission (SEC).

See related item:

Finisar grows 32.4% year-on-year

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