Rusnano Makes Strategic Investment in NeoPhotonics
SAN JOSE, Calif., May 8, 2012 — Photonic integrated circuit (PIC) manufacturer NeoPhotonics Corp. has received a $39.8 million investment from sovereign investment firm Rusnano of Moscow in a private placement transaction.
In connection with the investment, in which Rusnano acquired 4.97 million shares of NeoPhotonics at $8 each, NeoPhotonics appointed Sergey Polikarpov, Rusnano’s managing director, to its board.
NeoPhotonics is planning to build research and development facilities in Russia and will use a portion of the net proceeds from the common stock share sales for general corporate purposes and to establish design and production capabilities there. The targeted completion for the expansion is July 31, 2014, and is not expected to have a material impact on the company’s 2012 operations results.
For more information, visit: www.neophotonics.com