- About Us
- Career Center
- Nano-Social Network
- Nano Consulting
- My Account
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
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.
"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.
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
LouVan Communications Inc.
Copyright © Business WireIf you have a comment, please Contact us.
|Related News Press|
News and information
A Stretchy Mesh Heater for Sore Muscles July 6th, 2015
A Stretchy Mesh Heater for Sore Muscles July 6th, 2015
Aspen Aerogels to Webcast 2015 Annual Meeting of Stockholders June 11th, 2015
Industrial Nanotech, Inc. Provides Update June 8th, 2015
BBC World Service to broadcast Forum discussion on graphene July 6th, 2015
Leti Announces Launch of First European Nanomedicine Characterisation Laboratory: Project Combines Expertise of 9 Partners in 8 Countries to Foster Nanomedicine Innovation and Facilitate Regulatory Approval July 1st, 2015
Making new materials with micro-explosions: ANU media release: Scientists have made exotic new materials by creating laser-induced micro-explosions in silicon, the common computer chip material June 29th, 2015