Applied Optoelectronics sets up $600M at-the-market stock offering

Applied Optoelectronics (NASDAQ: AAOI) has entered into an Equity Distribution Agreement to sell up to $600,000,000 in shares of its common stock through an at-the-market offering, according to a filing with securities regulators.

The company named Raymond James & Associates, Inc. and Needham & Company, LLC as sales agents for the offering. The agents will receive a commission of up to 2.0% of the gross sales price per share sold.

Shares may be sold directly on the Nasdaq Global Market, through market makers, or in privately negotiated transactions. The agents are not obligated to sell any specific number or dollar amount of shares, but will use commercially reasonable efforts to sell shares as requested by the company.

The last reported sale price of AAOI common stock on the Nasdaq Global Market was $129.10 per share on August 20, 2026.

No escrow or trust arrangement has been established for the proceeds. The company has agreed to indemnify the agents against certain liabilities under the Securities Act of 1933 and the Securities Exchange Act of 1934.

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