20 September 2016

Oclaro announces proposed public offering of common stock

Oclaro Inc of San Jose, CA, USA (which provides components, modules and subsystems for optical communications) says that it intends to offer (subject to market conditions and other considerations) 13,000,000 newly issued shares of common stock ($0.01 par value per share) in an underwritten public offering. In addition, Oclaro expects to grant the underwriters a 30-day option to purchase up to 1,950,000 additional shares. The final terms of the offering will depend on market and other conditions at the time of pricing.

Oclaro intends to use the net proceeds from the offering for general corporate purposes, including working capital, capital expenditures, other corporate expenses and acquisitions of complementary products, technologies or businesses. The firm adds that it does not have agreements or commitments for any specific acquisition at this time.

Jefferies LLC is serving as the sole book-running manager for the offering and Needham & Company, Stifel and Craig-Hallum Capital Group LLC are acting as co-managers.

Tags: Oclaro

Visit: www.oclaro.com