Sept. 20, 2013
/PRNewswire/ -- B. Riley & Co., LLC, (B. Riley)
, a leading independent investment bank which provides a full array of corporate finance, research, sales and trading services announced that it has participated in the following transactions:
- Acted as sole underwriter in a $12,362,500 underwritten overnight public offering for EMCORE Corporation (NASDAQ: EMKR)
- Acted as sole underwriter in a $6,000,000 underwritten public offering for Arotech Corp. (NASDAQ: ARTX).
For EMCORE Corporation:
This offering represents the second sole managed transaction with EMCORE in the past twelve months. The offering, which was announced after the market closed on
September 12, 2013
, consisted of 2,875,000 shares of common stock, and included an overallotment of 375,000 shares which the underwriter exercised in full. B. Riley priced the offering prior to the market open on
September 13, 2013
per share. The Company intends to use the proceeds of the offering for general corporate purposes. The offering closed on
September 18, 2013
and was subject to the satisfaction of customary closing conditions.
B. Riley's Chairman
and Managing Director
led the banking team for this transaction.
"We continue to be impressed with B. Riley's execution capabilities in the equity markets on our behalf," said
, EMCORE's Chief Executive Officer. "B. Riley has proven to be a valuable resource to EMCORE."
Albuquerque-based EMCORE offers a broad portfolio of compound semiconductor-based products for the fiber optics and solar power markets. EMCORE's Fiber Optics business segment provides optical components, subsystems and systems for high-speed telecommunications, Cable Television (CATV) and Fiber-To-The-Premise (FTTP) networks, as well as products for satellite communications, video transport and specialty photonics technologies for defense and homeland security applications. EMCORE's Solar Photovoltaics business segment provides products for space power applications including high-efficiency multi-junction solar cells, Covered Interconnect Cells (CICs) and complete satellite solar panels.