Oclaro Inc of San Jose, CA, USA (which provides components, modules and subsystems for optical communications) has priced its public offering of 15,000,000 shares of its common stock at $8.35 per share. In addition, Oclaro has granted the underwriters a 30-day option to purchase up to 2,250,000 additional shares. (The offering was proposed on 19 September as 13,000,000 shares plus 1,950,000 additional shares for underwriters.) Oclaro expects to close the offering on 27 September (subject to customary closing conditions).
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.
