Emcore announces closing of $17.25 million public offering

Alhambra, ca, aug. 22, 2023 (globe newswire) -- emcore corporation (nasdaq: emkr) today announced the closing of its underwritten public offering of 22,600,000 shares of its common stock, which includes the full exercise of the underwriter's option to purchase an additional 2,947,826 shares of its common stock, and 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 per 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 were sold by emcore. the gross proceeds to emcore from the offering, before deducting the underwriting discounts and commissions and other offering expenses, were $17.25 million.
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