12 May 2010


Oclaro closes $77.2m public offering of common stock

Optical component, module and subsystem maker Oclaro Inc of San Jose, CA, USA has closed its announced public offering of 6,900,000 shares of its common stock, including the 6,000,000 shares originally offered (as announced on 29 April) and an additional 900,000 shares to be issued pursuant to the full exercise of the underwriters' over-allotment option (as announced on 6 May, together with the pricing at $12 per share).

After deducting underwriting discounts and commissions and estimated offering expenses, Oclaro received net proceeds of $77.2m, which it intends to use for general corporate purposes, including working capital. A portion may be used to acquire or invest in complementary businesses, products or technologies.

On 29 April, Oclaro effected a 1-for-5 reverse split of its common stock (which is hence trading temporarily under the symbol ‘OCLRD until on or about 28 May). The number of shares issued is on a post-split basis.

See related item:

Oclaro grows margin for third consecutive quarter

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