Applied Optoelectronics, Inc. (AAOI), a provider of fiber-optic networking products, has amended its Equity Distribution Agreement with Raymond James & Associates, Inc. to increase the total amount of common stock on offer to $60 million, including shares already sold prior to the amendment. As of August 6, 2024, the company has sold approximately 1.75 million shares for gross proceeds of about $20.5 million. The sales are part of an 'at-the-market' equity offering, allowing shares to be sold through various methods, including directly on The Nasdaq Global Market where AAOI is listed. Raymond James, acting as sales agent, is not obligated to sell a specific number of shares but will use commercially reasonable efforts to sell the stock on behalf of Applied Optoelectronics. The company plans to use the net proceeds for general corporate purposes, which may include debt repayment, working capital, capital expenditures, and potential acquisitions. The last reported sale price of AAOI's common stock was $7.65 per share on August 2, 2024.

Applied Optoelectronics, Inc. (AAOI), a provider of fiber-optic networking products, has amended its Equity Distribution Agreement with Raymond James & Associates, Inc. to increase the total amount of common stock on offer to $60 million, including shares already sold prior to the amendment. As of August 6, 2024, the company has sold approximately 1.75 million shares for gross proceeds of about $20.5 million. The sales are part of an 'at-the-market' equity offering, allowing shares to be sold through various methods, including directly on The Nasdaq Global Market where AAOI is listed. Raymond James, acting as sales agent, is not obligated to sell a specific number of shares but will use commercially reasonable efforts to sell the stock on behalf of Applied Optoelectronics. The company plans to use the net proceeds for general corporate purposes, which may include debt repayment, working capital, capital expenditures, and potential acquisitions. The last reported sale price of AAOI's common stock was $7.65 per share on August 2, 2024.