SOURCE: Finisar

Finisar

March 23, 2010 16:01 ET

Finisar Corporation Announces Closing of Public Offering of Common Stock

SUNNYVALE, CA--(Marketwire - March 23, 2010) - Finisar Corporation (NASDAQ: FNSR), a technology leader for fiber optic subsystems and components for communication applications, today announced the closing of its previously announced public offering of 9,936,000 shares of its Common Stock at a price to the public of $14.00 per share. Today's closing included the sale of the 8,640,000 shares originally offered by the Company as well as 1,147,093 additional shares sold by the Company and 148,907 shares sold by certain selling stockholders upon the full exercise of the underwriters' over-allotment option. Total gross proceeds of the offering were $139.1 million. Net proceeds to the Company were $131.2 million, after deducting underwriting discounts and commissions and estimated offering expenses, and net proceeds to the selling stockholders were $2.0 million, after deducting underwriting discounts and commissions. 

Morgan Stanley & Co. Incorporated and Jefferies & Company, Inc. served as joint book-running managers for the offering. Piper Jaffray & Co. and Morgan Keegan & Company, Inc. acted as co-managers.

The offering was made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy securities nor shall there be any offer or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

ABOUT FINISAR

Finisar Corporation (NASDAQ: FNSR) is a global technology leader for fiber optic subsystems and components that enable high-speed voice, video and data communications for networking, storage, wireless and cable TV applications. For more than 20 years, Finisar has provided critical optics technologies to system manufacturers to meet the increasing demands for network bandwidth and storage. Finisar is headquartered in Sunnyvale, California, USA with R&D, manufacturing sites, and sales offices worldwide. For additional information, visit www.finisar.com

Contact Information

  • Contact:
    Steve Workman
    Sr. VP Corporate Development and Investor Relations
    408-548-1000

    Victoria McDonald
    Senior Manager, Corporate Communications
    408-542-4261
    investor.relations@Finisar.com