Emcore announces pricing of $15.8 million public offering

Alhambra, ca, aug. 17, 2023 (globe newswire) -- emcore corporation (nasdaq: emkr) today announced the pricing of an underwritten public offering of 19,652,174 shares of its common stock, and, to certain investors, pre-funded warrants to purchase 11,900,000 shares of its common stock. the offering price to the public in the offering was $0.50 per share of common stock and $0.49999999 for each pre-funded warrant, which represents the per share public offering price for the common stock less the $0.00000001 per share exercise price for each such pre-funded warrant. all of the shares and warrants in the offering are being sold by emcore. the gross proceeds to emcore from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be approximately $15.8 million. the offering is expected to close on or about august 21, 2023, subject to customary closing conditions. in addition, emcore has granted the underwriter a 30-day option to purchase up to an additional 2,947,826 shares of its common stock in the underwritten public offering.
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