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Emcore stock sale could net $10.2M

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ALBUQUERQUE, N.M. — Emcore Corp. said Friday that it expects to receive about $10.2 million in net proceeds from a public offering of 2.5 million shares of its common stock.

The Albuquerque company, which provides compound semiconductor-based components and subsystems for the fiber-optic and solar-power markets, said the offering is priced at $4.30 per share.

Emcore is giving the underwriters a 30-day option to buy up to 375,000 additional shares.

The company said it plans to use the offering’s net proceeds for general corporate purposes. The offering is expected to close Sept. 18.

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