23 March 2010


Finisar closes public offering, raising net proceeds of $131.2m

Fiber-optic communications component and subsystem maker Finisar Corp of Sunnyvale, CA, USA has closed its public offering of 9,936,000 shares of its common stock (announced on 15 March) at a price to the public of $14 per share.

This included the sale of the 8,640,000 shares originally offered by the firm as well as 1,147,093 additional shares sold by the company plus 148,907 shares sold by certain selling stockholders upon the full exercise of the underwriters' over-allotment option.

Total gross proceeds were $139.1m. Net proceeds to the company were $131.2m (after deducting underwriting discounts and commissions and estimated offering expenses) and net proceeds to the selling stockholders were $2m (after deducting underwriting discounts and commissions).

Finisar has previously said that net proceeds may be used for general corporate purposes, including acquisitions, capital expenditure and the repayment of debt.

See related items:

Exercise of over-allotment option boosts Finisar offering to $139.1m

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

Finisar grows 32.4% year-on-year

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