May 13, 2010 (FinancialWire) — Oclaro, Inc. (NASDAQ: OCLR) has closed a public offering of 6.9 million shares of its common stock, including the six million shares originally offered and an additional 900,000 shares to be issued pursuant to the full exercise of the underwriters' over-allotment option. Morgan Stanley & Co. (NYSE: MS) and Citi (NYSE: C) are acting as joint book-running managers.  

The company said it received net proceeds of around $77.2 million, which it plans to use for general corporate purposes, including working capital.  Oclaro said that a portion of the net proceeds may be used to acquire or invest in complementary businesses, products or technologies.

California-based Oclaro is a provider of optical components, modules and subsystems to the telecommunications market, and is a provider to metro and long-haul network applications. The company was formed on April 27, 2009 following the combination of Bookham, Inc. and Avanex Corp.

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