SUNNYVALE, CA, Dec 17, 2009 (MARKETWIRE via COMTEX News Network) -- Finisar Corporation (NASDAQ: FNSR), a technology leader in fiber optic solutions for high-speed networks, today announced that it has filed a universal shelf registration statement on Form S-3 with the U.S. Securities and Exchange Commission ("SEC"). The shelf registration statement, when declared effective by the SEC, will provide Finisar with the flexibility to offer and sell from time to time in the future, in one or more public offerings, up to $100 million of common stock, preferred stock and/or warrants to purchase any of these securities.
The net proceeds from the sale of the securities may be used for general corporate purposes, including acquisitions, capital expenditures and repayment of debt. The specifics of any potential future offering, along with the prices, terms and use of proceeds of any securities offered by the Company, will be determined at the time of the offering and will be described in a prospectus supplement.
"Since we have recently completed several transactions designed to strengthen our balance sheet, we have no immediate plans to offer additional securities," said Jerry Rawls, Finisar's executive Chairman of the Board. "And while there are no discussions of a strategic nature currently underway, having a shelf registration statement in place will allow us the flexibility to act on an expedited basis to take advantage of strategic opportunities should they arise."
The shelf registration statement has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy these securities be accepted prior to the time the registration statement becomes effective. This press release shall not constitute a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities law of any such jurisdiction. Any offer of these securities will be made solely by means of the prospectus included in the registration statement and any prospectus supplement that may be issued with respect to such offering.
SAFE HARBOR UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements involve risks and uncertainties which are, in some cases, beyond Finisar's control. Such risks include, but are not limited to, the risk that the shelf registration statement may not be declared effective by the SEC.
Finisar Corporation (NASDAQ: FNSR) is a global technology leader for fiber optic subsystems and network test systems that enable high-speed voice, video and data communications for networking, storage, wireless, and cable TV applications. For more than 20 years, Finisar has provided critical optics technologies to system manufacturers to meet the increasing demands for network bandwidth and storage. Finisar is headquartered in Sunnyvale, California, USA with R&D, manufacturing sites, and sales offices worldwide. For additional information, visit www.finisar.com.
Contact: Steve Workman Chief Financial Officer 408-548-1000 Victoria McDonald Senior Manager, Corporate Communications 408-542-4261 investor.relations@Finisar.com
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