New Focus to File for Public Offering
SANTA CLARA, Calif., July 26 -- New Focus Inc. -- designer, manufacturer and marketer of fiber optic products for next-generation optical networks under the Smart Optics for Networks brand -- has announced a public offering. The company will file a registration statement with the Securities and Exchange Commission for a public offering of up to 3.5 million shares of common stock by the end of the week.
Up to 500,000 of these shares may be offered by certain company shareholders. Any proceeds from the shares sold by shareholders will not go towards the company, New Focus said. The company will use the net proceeds to bolster working capital, capital expenditures, potential acquisitions and other general corporate purposes, New Focus said.
MORE FROM PHOTONICS MEDIA