Attached files
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8-K - 180 DEGREE CAPITAL CORP. /NY/ | v209796_8k.htm |
PRESS
RELEASE
|
FOR
IMMEDIATE RELEASE
|
HARRIS
& HARRIS GROUP, INC.
|
FEBRUARY
2, 2011
|
1450
BROADWAY, 24TH
FLOOR
|
|
NEW
YORK, NEW YORK 10018
|
CONTACT:
DOUGLAS W. JAMISON
|
TEL.
NO. (212) 582-0900
|
HARRIS
& HARRIS GROUP NOTES NEOPHOTONICS IPO
Harris
& Harris Group, Inc., (NASDAQ: TINY) noted today that NeoPhotonics
Corporation has priced its initial public offering (IPO) of 7,500,000 shares of
common stock at $11 per share.
Harris
& Harris Group first invested in NeoPhotonics in 2003. As of
September 30, 2010, the most recent date on which Harris & Harris Group
valued its investment in NeoPhotonics, our preferred convertible shares were
valued at $6,745,442. Prior to the IPO, Harris & Harris Group’s
preferred shares of NeoPhotonics converted into approximately 400,900 shares of
common stock. Harris & Harris Group purchased an additional
50,000 shares of common stock in the IPO.
NeoPhotonics
is a developer and vertically integrated manufacturer of photonic integrated
circuit (PIC) based components, modules and subsystems for use in
telecommunications networks. The company's products include active
semiconductor, passive PLC and MEMS multi-dimensional switching functions in a
single product. This integration is enabled by nanomaterials and
nanoscale design and fabrication technologies. NeoPhotonics maintains
headquarters in San Jose, California and ISO 9001:2000 certified engineering and
manufacturing facilities in Silicon Valley and Shenzhen, China.
Harris
& Harris Group is a publicly traded venture capital company that invests in
nanotechnology and microsystems. Detailed information about Harris & Harris
Group and its holdings can be found on its website at www.HHVC.com.
This
press release may contain statements of a forward-looking nature relating to
future events. These forward-looking statements are subject to the inherent
uncertainties in predicting future results and conditions. These statements
reflect the Company's current beliefs, and a number of important factors could
cause actual results to differ materially from those expressed in this press
release. Please see the Company's Annual Report on Form 10-K for the fiscal year
ended December 31, 2009, as well as subsequent filings, filed with the
Securities and Exchange Commission for a more detailed discussion of the risks
and uncertainties associated with the Company's business, including but not
limited to the risks and uncertainties associated with venture capital investing
and other significant factors that could affect the Company's actual results.
Except as otherwise required by Federal securities laws, the Company undertakes
no obligation to update or revise these forward-looking statements to reflect
new events or uncertainties. The reference to the website www.HHVC.com has been
provided as a convenience, and the information contained on such website is not
incorporated by reference into this press release.