Company: AAOI
Filing Date: 2025-05-28
Form Type: 424B5
Source: 0001104659-25-053547
Chunk: 15

Company: APPLIED OPTOELECTRONICS, INC.
Filing Date: 2025-05-28
Form: 424B5
Chunk 15
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 securities such as money market funds, certificates of deposit, or direct or guaranteed obligations of the U.S. government, or hold as cash. We cannot predict whether the proceeds invested will yield a favorable, or any, return.

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TABLE OF CONTENTS

DILUTION If you purchase shares of our common stock in this offering, your interest will be diluted to the extent of the difference between the public offering price per share and the net tangible book value per share of our common stock after this offering. We calculate net tangible book value per share by dividing our net tangible assets (tangible assets less total liabilities) by the number of shares of our common stock issued and outstanding as of March 31, 2025. Our historical net tangible book value at March 31, 2025 was $305,380,094 or approximately $5.74 per share of our common stock. After giving effect to (i) the approximately $26.2 million of common stock issuances made after March 31, 2025 pursuant to the prior Equity Distribution Agreement with Raymond James dated February 28, 2025 and (ii) the sale of our common stock in the aggregate amount of approximately $100,000,000 in this offering, at an assumed offering price of $18.56 per share, the last reported sale price of our common stock on The Nasdaq Global Market on May 27, 2025, and after deducting estimated offering expenses and commissions payable by us, our adjusted net tangible book value as of March 31, 2025 would have been approximately $429,625,186, or approximately $6.98 per share of our common stock. This represents an immediate increase in the net tangible book value of $.99 per share of our common stock to our existing stockholders and an immediate dilution in net tangible book value of approximately $11.58 per share of our common stock to new investors. The following table illustrates per share dilution:

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 ​ | Assumed public offering price per share                                                                                                                                                        
 Net tangible book value per share as of March 31, 2025                                                                                                                                         
 Pro forma increase in net tangible book value per share after March 31, 2025 attributable to February 28, 2025 Equity Distribution Agreement                                                   
 Pro forma net tangible book value per share after pro forma increase in net tangible book value per share after March 31, 2025 attributable to February 28, 2025