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News

7 November 2007

 

Bookham prices offering of common stock to raise $41m

Optical component, module and subsystem maker Bookham Inc of San Jose, CA, USA has priced its proposed public offering of 16 million shares of common stock at $2.75 per share.

The offering was announced on 29 October, shortly after Bookham reported strong results for fiscal first-quarter 2008 (ended 29 September 2007) that included higher-than-expected revenues up 20% and gross margin up from 16% to 23% sequentially, as well as reduced net losses.

Net proceeds from the offering are expected to be about $41m, after deducting underwriting discounts and commissions and estimated offering expenses associated with the transaction. The offering is expected to close on 13 November, subject to customary closing conditions.

Bookham has granted the underwriters a 30-day option to purchase up to an additional 2.4 million shares of common stock to cover over-allotments.

Copies of the final prospectus supplement and prospectus relating to these securities can be obtained from Citigroup Corporate and Investment Banking or from Cowen and Company LLC (Tel: 001 (631) 254-7106).

See related items:

Bookham begins fiscal 2008 buoyed by 20% revenue increase

Inventory reduction programs continue to “hurt” Bookham

Bookham appoints new president & CEO; Bordui remains chairman

Bookham cut-backs will shrink workforce by 123 staff, mainly at Caswell

Search: Bookham Optical components

Visit: www.bookham.com