Friday, September 16, 2022 3:18:27 PM
1:11 pm ET September 16, 2022 (Benzinga) Print
Applied Optoelectronics Inc (NASDAQ: AAOI) shares are trading higher by 42.8% to $3.57 during Friday's trading session after the company announced the sale of its Chinese manufacturing facilities to Yuhan Optoelectronic Technology for $150 million.
What Happened?
The company anticipates that the transaction will be completed in 2023 and is subject to customary closing conditions and regulatory approvals.
"The significant proceeds from this transaction will enable us to make strategic investments in higher margin and higher growth opportunities," said Dr. Thompson Lin, Applied Optoelectronics Inc Founder, President and Chief Executive Officer.
"After careful consideration, we concluded that it is in the best interest of the company and our shareholders for AOI to exit the transceiver market and focus our resources on our CATV business and manufacturing lasers and laser components for the datacenter, CATV, telecom, and FTTH markets. Further, we believe that this transaction opens up new opportunities for customer expansion with our existing datacenter laser business, which has a large addressable market."
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Recent AAOI News
- Applied Optoelectronics to Present at 19th Annual Needham Technology, Media, & Consumer Conference • GlobeNewswire Inc. • 05/02/2024 08:10:00 PM
- Applied Optoelectronics Announces Equity Grants To Employees Under Inducement Plan • GlobeNewswire Inc. • 04/29/2024 08:10:00 PM
- Applied Optoelectronics Announces Date of First Quarter 2024 Financial Results Conference Call • GlobeNewswire Inc. • 04/18/2024 08:10:00 PM
- AOI and Credo to Showcase 400G and 800G MMF Solutions at OFC 2024 • Business Wire • 03/25/2024 01:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/01/2024 02:50:44 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/28/2024 09:02:11 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 02/23/2024 09:00:57 PM
- CORRECTION – Applied Optoelectronics Reports Fourth Quarter and Full Year 2023 Results • GlobeNewswire Inc. • 02/23/2024 01:52:57 AM
- Applied Optoelectronics Filed Patent Infringement Lawsuit Against CIG • GlobeNewswire Inc. • 02/22/2024 09:24:16 PM
- Applied Optoelectronics Announces Equity Grants To Employees Under Inducement Plan • GlobeNewswire Inc. • 02/22/2024 09:15:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/22/2024 09:10:36 PM
- Applied Optoelectronics Reports Fourth Quarter and Full Year 2023 Results • GlobeNewswire Inc. • 02/22/2024 09:10:00 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 11:18:28 PM
- Applied Optoelectronics Announces Date of Fourth Quarter and Full Year 2023 Financial Results Conference Call • GlobeNewswire Inc. • 02/01/2024 09:10:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/24/2024 09:02:24 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/24/2024 09:02:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/24/2024 09:02:01 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/24/2024 09:01:50 PM
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- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/18/2024 09:01:07 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 01/16/2024 05:35:41 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/09/2024 09:01:25 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/27/2023 09:27:17 PM
- Applied Optoelectronics' Subsidiary Global Technology Inc. Filed Patent Infringement Lawsuits Against CreaLights in China • GlobeNewswire Inc. • 12/22/2023 12:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/21/2023 09:01:09 PM
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