SOMERSET, N.J., Feb. 25, 2000 (PRIMEZONE) -- EMCORE Corporation (Nasdaq:EMKR) announced today that it priced its public offering of 1,000,000 shares of common stock at $136.00 per share. The Company's common stock trades on the Nasdaq National Market under the trading symbol "EMKR." The offering is expected to close March 1, 2000.
EMCORE intends to use the net proceeds of the offering to expand manufacturing capacity for new data communications and wireless products, to fund additional investments in joint ventures and for other general corporate purposes.
The offering is being lead managed by Prudential Volpe Technology Group, a unit of Prudential Securities, and co-managed by Wit SoundView and Roth Capital Partners Incorporated. Copies of the prospectus supplement and accompanying prospectus may be obtained from Prudential Securities at 111 8th Avenue, 5th Floor, New York, NY 10011.
EMCORE designs, develops and manufactures compound semiconductor wafers and devices and is a leading developer and manufacturer of the tools and manufacturing processes used to fabricate compound semiconductor wafers and devices. Its products and technology enable customers, both in the United States and internationally, to manufacture commercial volumes of high-performance electronic devices using compound semiconductors. EMCORE's products are used in a wide variety of applications in the communications (satellite, data, telecommunications and wireless), consumer and automotive electronics, computers and peripherals, and lighting markets. EMCORE is incorporated in the State of New Jersey and its principal executive offices are located in Somerset, New Jersey.