6 January 2011

Advanced Photonix announces $4m share offering

Advanced Photonix Inc of Ann Arbor, MI, USA (which designs and makes silicon, InP- and GaAs-based photodetectors, subsystems, and terahertz instrumentation for telecom, homeland security, military, medical and industrial markets) has entered into an underwriting agreement with B. Riley & Co LLC that provides for the sale of 2,702,703 shares of its Class A Common Stock at a purchase price of $1.48 per share, minus an underwriting discount of $0.089 a share.

The underwriting agreement includes an overallotment option exercisable for a 30-day period for the purchase of up to an extra 405,405 shares of Class A Common Stock on the same terms and conditions.

The shares are being sold pursuant to the firm’s registration statement on Form S-3 (File No. 333-171390), which was declared effective by the US Securities and Exchange Commission (SEC) on 5 January. A prospectus supplement relating to the offering will be filed with the SEC.

See related items:

Advanced Photonix reports quarterly revenue up 29% year-on-year

Tags: Advanced Photonix

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Visit: www.advancedphotonix.com

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