Applied Optoelectronics falls further on additional stock sale plans
12/03/2026 21:43
** Applied Optoelectronics AAOI.O shares down 4.3% post-market to $101.51, adding to sharp loss in regular session, as it looks to raise more equity
** Sugar Land, Texas-based provider of fiber-optic networking products boosts ATM ("at-the-market") offering from $250 mln to $500 mln, per amended SEC filing
** Under the original Feb 26 ATM agreement with Raymond James and Needham, co sold ~2.5 mln shares for $249,999,983 as of Mar 12, according to the filing
** AAOI shares tumbled 16.4% to close at $106.19 on Thurs, suffering steepest daily pct drop since Apr 3, after new Citrini report on photonics stocks
** Co intends to use net offering proceeds for general corp purposes, including debt repayment, working capital, capex and acquisitions
** It has ~75.2 mln shares outstanding for $8 bln market cap
** Even with the decline on Thurs, stock has roughly tripled YTD. Stock closed at $17.30 a year ago
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))