Temescal

Semigas

CLICK HERE: free registration for Semiconductor Today and Semiconductor Today ASIACLICK HERE: free registration for Semiconductor Today and Semiconductor Today ASIA

Join our LinkedIn group!

Follow ST on Twitter

IQE

2 June 2014

Advanced Photonix prices public offering of common stock to raise $2.5m

Advanced Photonix Inc of Ann Arbor, MI, USA (which designs and makes APD, PIN, and FILTRODE photodetectors, HSOR high-speed optical receivers, and T-Ray terahertz instrumentation) has priced an underwritten public offering of 5,391,304 shares of its Class A Common Stock at $0.53 per share.

Also, the firm has granted the underwriter B. Riley & Co LLC an option (exercisable for a 30-day period) to purchase up to an additional 808,696 shares on the same terms and conditions.

Advanced Photonix plans to use the net proceeds of about $2.5m to reduce its indebtedness and pay certain related fees.

The shares are being sold pursuant to a registration statement on Form S-3 (file no. 333-195689) that was declared effective by the US Securities and Exchange Commission (SEC) on 12 May.

The offering will be made only by means of a prospectus and related prospectus supplement (be filed with the SEC), copies of which can be obtained, when available, from B. Riley & Co LLC, 11100 Santa Monica Blvd, Suite 800, Los Angeles, CA 90025, USA.

See related items:

Advanced Photonix extends line of credit with lenders

Tags: Advanced Photonix

Visit: www.advancedphotonix.com

Share/Save/Bookmark
See Latest IssueRSS Feed

AXT