Atomera Inc (NASDAQ: ATOM) fell sharply Thursday, as the company reported a common stock offering.
The company, based out of Los Gatos, California, said priced its underwritten public offering of 2,625,000 shares of its common stock at a public offering price of $4.75 per share. Atomera expects the gross proceeds from this offering to be $12,468,750, before deducting the underwriting discount and other estimated offering expenses.
Atomera has granted the underwriter a 30-day option to purchase up to 393,750 additional shares of common stock. Atomera expects to close the offering, subject to customary conditions, on or about October 15.
Atomera intends to use the net proceeds from the proposed offering for working capital and general corporate purposes, which could include capital and/or operating expenditures related to epitaxial deposition tools it may acquire or lease; metrology costs for wafers built for internal R&D and customer evaluations; and increased engineering personnel supporting MST development and customer integration.
Roth Capital Partners acted as sole book-running manager for the offering. National Securities Corporation, a wholly owned subsidiary of National Holdings Corporation (NASDAQ: NHLD), acted as a co-manager in connection with the offering.
Loop Capital Markets LLC served as Financial Advisor to Atomera in connection with this offering.
Atomera has developed Mears Silicon Technology (MST), which increases performance and power efficiency in semiconductor transistors. MST can be implemented using equipment already deployed in semiconductor manufacturing facilities and is complementary to other nano-scaling technologies already in the semiconductor industry roadmap.
Shares stumbled $1.24, or 21.1%, to $4.65
