Oclaro, Inc. (Avanex-Bookham) Message Board

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Technology Stocks : Oclaro, Inc. (Avanex-Bookham)

OCLR 8.260

0.0%

Dec 10 4:00 PM EST

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From: Glenn Petersen	5/12/2010 4:22:40 PM
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OCLR (OCLRD temporarily) closed at $13.45 today. Oclaro plans to raise $67M in stock sale Silicon Valley / San Jose Business Journal Friday, May 7, 2010 Oclaro Inc. said it plans to raise about $67 million from a public offering of newly issued shares of stock. The San Jose company (NASDAQ:OCLRD) late Thursday priced the offering of 6 million shares at $12 per share. Oclaro said it also granted the underwriters a 30-day option to purchase up to an additional 900,000 shares to cover over-allotments, if any. The offering is expected to close on May 12. Morgan Stanley & Co. Inc. and Citi are acting as joint book-running managers, and Foros Securities LLC and Thomas Weisel Partners LLC are acting as co-managers of the offering. Oclaro intends to use the net proceeds from the offering for general corporate purposes, including working capital. A portion of the net proceeds may be used to acquire or invest in complementary businesses, products or technologies. The company effected a 1-for-5 reverse split of its common stock on April 29. Its stock is temporarily trading under the symbol "OCLRD" until on or about May 28. Oclaro stock closed the day Thursday at $12.68. sanjose.bizjournals.com

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