Applied Optoelectronics establishes $180M stock sale agreement

Applied Optoelectronics Inc. (NASDAQ: AAOI) entered into an equity distribution agreement with Raymond James & Associates Inc. and Needham & Company LLC to sell up to $180 million of common stock.

Under the sales agreement, the company may offer and sell shares from time to time through the two firms acting as agents. The arrangement allows Applied Optoelectronics to conduct sales through this at-the-market offering program.

Applied Optoelectronics common stock trades on the Nasdaq Global Market under the ticker AAOI. The stock closed at $29.10 per share on November 6, according to the company's filing.

The information was disclosed in a prospectus supplement filed by the optical components manufacturer.

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