Finisar (FNSR) this afternoon said it filed to sell 7.2 million common shares. The optical networking products company said the offering provides for an over-allotment option of 1,080,000 shares, including 148,907 from selling holders.

In an SEC filing, the company said a portion of the proceeds could be used for repayment of outstanding debt or for acquisitions, and for working capital.

FNSR in late trading is down 31 cents, or 2.1%, to $14.50.

Article courtesy of BARRONS.com: Tech Trader Daily