Applied Optoelectronics Announces Completion of Previously Announced At the Market Offering

SUGAR LAND, Texas, Oct. 5, 2026 /PRNewswire/ -- Applied Optoelectronics, Inc. (NASDAQ: AAOI) ("AOI"), a leading provider of advanced optical and HFC networking products that power AI, today announced that it has completed its previously disclosed $600 million "at-the-market" equity offering program (the "ATM Program").

AOI disclosed on August 21, 2026 that it filed a prospectus supplement with the U.S. Securities and Exchange Commission to offer and sell shares of its common stock having an aggregate offering price of up to $600,000,000. The Company sold a total of 5,694,845 shares at an average sales price of $105.36 per share, representing proceeds to the Company of $587,999,985.89, net of commissions and fees.

"We are pleased to have successfully completed our third at-the-market equity offering program this year, which strengthens our balance sheet and supports our ability to address growing demand for high-speed optical connectivity in AI data centers," said Dr. Thompson Lin, AOI's Founder, President and Chief Executive Officer. "We intend to use these proceeds to continue to make investments in the business, including new equipment and machinery for production and research and development use, as we continue to scale our advanced manufacturing capacity. We thank our shareholders for their continued support of AOI and welcome our new shareholders."

The Company currently intends to use the net proceeds from the ATM Program for general corporate purposes, which may include, among other things, debt repayment, working capital, and capital expenditures, primarily in support of its manufacturing expansion efforts for data center optical devices.

Forward-Looking Information

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "could," "would," "target," "seek," "aim," "predicts," "think," "objectives," "optimistic," "new," "goal," "priorities," "strategy," "potential," "is likely," "will," "expect," "momentum," "plan" "project," "permit," "positions" or by other similar expressions that convey uncertainty of future events or outcomes. These statements include management's beliefs and expectations regarding the use of proceeds from the ATM Program and planned investments in manufacturing capacity. Such forward-looking statements reflect the views of management at the time such statements are made. These forward-looking statements involve risks and uncertainties, as well as assumptions and current expectations, which could cause the company's actual results to differ materially from those anticipated in such forward-looking statements. These risks and uncertainties include but are not limited to: reduction in the size or quantity of customer orders; change in demand for the company's products due to industry conditions; changes in manufacturing operations; volatility in manufacturing costs; delays in shipments of products; disruptions in the supply chain; change in the rate of design wins or the rate of customer acceptance of new products; the company's reliance on a small number of customers for a substantial portion of its revenues; potential pricing pressure; a decline in demand for our customers' products or their rate of deployment of their products; general conditions in the internet datacenter, cable television (CATV) broadband, telecom, or fiber-to-the-home (FTTH) markets; changes in the world economy (particularly in the United States and China); changes in the regulation and taxation of international trade, including the imposition of tariffs; changes in currency exchange rates; the negative effects of seasonality; and other risks and uncertainties described more fully in the company's documents filed with or furnished to the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2025 and our Quarterly report on Form 10-Q for the quarter ended June 30, 2026. More information about these and other risks that may impact the company's business are set forth in the "Risk Factors" section of the company's quarterly and annual reports on file with the Securities and Exchange Commission. You should not rely on forward-looking statements as predictions of future events. All forward-looking statements in this press release are based upon information available to us as of the date hereof, and qualified in their entirety by this cautionary statement. Except as required by law, we assume no obligation to update forward-looking statements for any reason after the date of this press release to conform these statements to actual results or to changes in the company's expectations.

About AOI  
Applied Optoelectronics, Inc. (AOI) is a leading developer and manufacturer of advanced optical and HFC networking products that are the building blocks for AI datacenters, CATV and broadband fiber access networks around the world. AOI supplies this critical infrastructure to tier-one customers across cloud computing, CATV broadband, telecom, and FTTH markets. The company has R&D facilities in Atlanta, GA, and engineering and manufacturing facilities at its corporate headquarters in Sugar Land, TX, as well as in Taipei, Taiwan and Ningbo, China. For additional information, visit www.ao-inc.com.  

SOURCE APPLIED OPTOELECTRONICS, INC.