Nanotechnology Now

Our NanoNews Digest Sponsors


Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > NeoPhotonics Receives Strategic Investment from RUSNANO: NeoPhotonics Receives $39.8 Million in Gross Proceeds at $8.00 per Share for Expansion in Russia and to Accelerate Adoption of High-Speed, Agile and Coherent PIC Technologies

Abstract:
NeoPhotonics Corporation (NYSE: NPTN) (the "Company"), a leading designer and manufacturer of photonic integrated circuit, or PIC, based modules and subsystems for bandwidth-intensive, high speed communications networks, today announced that it has received an investment from RUSNANO, a $10 billion sovereign investment corporation located in Moscow, Russia. RUSNANO acquired 4.97 million newly-issued common shares of NeoPhotonics Corporation in a private placement transaction at a price of $8.00 per share for gross proceeds of $39.8 million. The Company's per share closing trading price on April 27, 2012, was $4.49. The shares are restricted from resale pursuant to a lockup agreement for up to two years, at the end of which the Company is obligated to register the shares for potential resale. In connection with the investment, the Company appointed Sergey Polikarpov, RUSNANO Managing Director, to the board of directors.

NeoPhotonics Receives Strategic Investment from RUSNANO: NeoPhotonics Receives $39.8 Million in Gross Proceeds at $8.00 per Share for Expansion in Russia and to Accelerate Adoption of High-Speed, Agile and Coherent PIC Technologies

San Jose, CA | Posted on April 30th, 2012

"We are pleased to receive this strategic investment from RUSNANO," said Tim Jenks, Chairman, President and CEO of NeoPhotonics. "We welcomed this investment as it aligns with our strategy to accelerate growth globally, with particular emphasis on fast growing and emerging markets, including in Russia and the CIS countries."

"Not only are these markets deploying high speed, agile and fiber-to-the-home networks but we are also seeing more of our customers target service providers and invest locally in Russia and more broadly in Eastern Europe," continued Mr. Jenks. "We started to see and investigate this growth opportunity several years ago, and we added sales capability in the region and have since been engaged with and supplying several customers in Russia. With the planned support from RUSNANO, we believe that NeoPhotonics is well-positioned to capitalize on new and greater opportunities in the region."

"One of the unique advantages of NeoPhotonics is its vertically-integrated design and manufacturing processes for photonic integrated circuit-based products," said Mr. Polikarpov. "The Company's planned research and production facilities in Russia are intended to be able to perform a wide range of steps from PIC development to processing and fabrication. We believe that with our support in Russia, we can further enhance the Company's development cycles and shorten the time for broader adoption for NeoPhotonics products in Russia and the global market."

NeoPhotonics intends to use a portion of the net proceeds from the sale of the shares of common stock for general corporate purposes as well as to establish design and production capabilities in Russia for the benefit of the global organization. The expansion in Russia is targeted for completion by July 31, 2014, and is not expected to have a material impact on the Company's results of operations in 2012. The Company will hold its quarterly financial results conference call on May 3, 2012, at 4:30 p.m. ET (1:30 pm PT).

####

About NeoPhotonics Corporation
NeoPhotonics is a leading designer and manufacturer of photonic integrated circuit, or PIC, based modules and subsystems for bandwidth-intensive, high-speed communications networks. The company’s products enable cost-effective, high-speed data transmission and efficient allocation of bandwidth over communications networks. NeoPhotonics maintains headquarters in San Jose, California and ISO 9001:2000 certified engineering and manufacturing facilities in Silicon Valley (USA) and Shenzhen, China. NeoPhotonics has been included in the Russell 3000® Index since its reconstitution in June 2011. For additional information, visit www.neophotonics.com.

About RUSNANO

RUSNANO was founded in March 2011 as an open joint stock company through reorganization of state corporation Russian Corporation of Nanotechnologies. RUSNANO’s mission is to develop the Russian nanotechnology industry through co-investment in nanotechnology projects with substantial economic potential or social benefit. The Government of the Russian Federation owns 100 percent of the shares in RUSNANO. Anatoly Chubais is CEO and chairman of the Executive Board of RUSNANO.

Work to establish nanotechnology infrastructure and training for nanotechnology specialists, formerly conducted by the Russian Corporation of Nanotechnologies, has been entrusted to the Fund for Infrastructure and Educational Programs, a non-commercial fund also established through reorganization of the Russian Corporation of Nanotechnologies.

© 2012 NeoPhotonics Corporation. All rights reserved. NeoPhotonics and the red dot logo are trademarks of NeoPhotonics Corporation. All other marks are the property of their respective owners.

Forward Looking Statements

The statements from Mr. Jenks and Mr. Polikarpov in this press release regarding the anticipated benefits of the transaction and the opportunities for the Company and its products in Russia are forward-looking statements. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. These forward-looking statements involve risks and uncertainties, as well as assumptions and current expectations. The company’s actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks, uncertainties and assumptions. The risks and uncertainties that could cause the company’s results to differ materially from those expressed or implied by such forward-looking statements include but are not limited to: the acceptance rate and timing by customers in Russia and other countries of new product introductions; general conditions in the telecommunications equipment industry in Russia or worldwide; general conditions in the Russian political and economic environment; unanticipated delays in the Company’s manufacturing and expansion plans; and other risks and uncertainties described more fully in the company’s documents filed with or furnished to the Securities and Exchange Commission. More information about risks that may impact the company’s business is set forth in the “Risk Factors” section of the company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 30, 2012. All forward-looking statements in this press release are based on information available to NeoPhotonics as of the date hereof and qualified in their entirety by this cautionary statement, and NeoPhotonics assumes no obligation to revise or update these forward-looking statements.

For more information, please click here

Contacts:
LouVan Communications Inc.
Michael Newsom
+1 508-541-9036

Copyright © Business Wire

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

A compact, efficient single photon source that operates at ambient temperatures on a chip: Highly directional single photon source concept is expected to lead to a significant progress in producing compact, cheap, and efficient sources of quantum information bits for future appls May 3rd, 2016

Nuclear pores captured on film: Using an ultra fast-scanning atomic force microscope, researchers from the University of Basel have filmed 'living' nuclear pore complexes at work for the first time May 3rd, 2016

Little ANTs: Researchers build the world's tiniest engine May 3rd, 2016

An Experiment Seeks to Make Quantum Physics Visible to the Naked Eye May 3rd, 2016

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

ORIG3N Added to Companies Presenting at Harris & Harris Group's Annual Meeting, Tuesday June 7, 2016, the New York Genome Center April 27th, 2016

Philadelphia Mathematician Robert Clark Turns to Crowdfunding to Support Nanotechnology Research That Could Lead to ‘Flying’ Cars and Space Elevator April 4th, 2016

Harris & Harris Group Announces Formation of Co-Investment Fund for Accredited Investors March 9th, 2016

Clinatec Announces €30M Fundraising Campaign to Speed Research In Treatment of Neurodegenerative Diseases, Cancer and Motor Disabilities February 24th, 2016

Announcements

A compact, efficient single photon source that operates at ambient temperatures on a chip: Highly directional single photon source concept is expected to lead to a significant progress in producing compact, cheap, and efficient sources of quantum information bits for future appls May 3rd, 2016

Nuclear pores captured on film: Using an ultra fast-scanning atomic force microscope, researchers from the University of Basel have filmed 'living' nuclear pore complexes at work for the first time May 3rd, 2016

Little ANTs: Researchers build the world's tiniest engine May 3rd, 2016

An Experiment Seeks to Make Quantum Physics Visible to the Naked Eye May 3rd, 2016

Financial Reports

Nanometrics to Announce First Quarter Financial Results on April 26, 2016 April 5th, 2016

Nanometrics Achieves Record 3D-NAND Bookings Quarter: A Record 3D-NAND Bookings Quarter, both in Aggregate and for Each of Three Key Customers March 28th, 2016

Arrowhead to Webcast Fiscal 2015 Year End Results December 7th, 2015

Haydale Announce Year End Results November 3rd, 2015

Events/Classes

Non-animal approach to predict impact of nanomaterials on human lung published Archives of Toxicology publishes workshop recommendations May 2nd, 2016

Researchers create a first frequency comb of time-bin entangled qubits: Discovery is a significant step toward multi-channel quantum communication and higher capacity quantum computers April 28th, 2016

Introducing the RE標ORK Bio-inspired Robotics Summit in Berlin April 27th, 2016

ORIG3N Added to Companies Presenting at Harris & Harris Group's Annual Meeting, Tuesday June 7, 2016, the New York Genome Center April 27th, 2016

Photonics/Optics/Lasers

A compact, efficient single photon source that operates at ambient temperatures on a chip: Highly directional single photon source concept is expected to lead to a significant progress in producing compact, cheap, and efficient sources of quantum information bits for future appls May 3rd, 2016

Exploring phosphorene, a promising new material April 29th, 2016

Researchers create a first frequency comb of time-bin entangled qubits: Discovery is a significant step toward multi-channel quantum communication and higher capacity quantum computers April 28th, 2016

Hybrid nanoantennas -- next-generation platform for ultradense data recording April 28th, 2016

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







Car Brands
Buy website traffic