Skip to main content

Market Overview

EMCORE Takes Advantage Of Stock Price Growth, Raises $31.2M In Secondary Offering

Share:
  • EMCORE Corporation (NASDAQ: EMKRpriced 5.787 million shares at $5.40 per share to raise $31.2 million in a secondary public offering.
  • The price signifies a 1.6% discount to the company’s last closing price of $5.49, and the offering is estimated to close by February 16, 2021.
  • The underwriters have a 30-day option to procure additional shares up to 0.868 million at the offering price.
  • Cowen and Craig-Hallum Capital Group are the book-running manager and co-manager for the offering, respectively.
  • EMCORE had cash and equivalents of $31.2 million as of December 31, 2020. The company’s stock price has grown 72.6% in the last year, and the new shares increase the float by 20%.
  • Price Action: EMKR shares are up 2% at $5.60 in the pre-market session on the last check Thursday.
 

Related Articles (EMKR)

View Comments and Join the Discussion!

Posted-In: News Offerings Tech Media

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com