EMCORE Corporation Announces Shareholder Approval of the Sale of Space Photovoltaics Business to an Affiliate of Veritas Capital

Date Announced: 05 Dec 2014

Deal with private equity group set to close this week.

ALBUQUERQUE, N.M., Dec. 5, 2014 (GLOBE NEWSWIRE) -- EMCORE Corporation (EMKR) a leading provider of compound semiconductor-based components, subsystems, and systems for the fiber optics and space solar power industries, announces that at a special meeting of EMCORE's shareholders held today, shareholders approved the previously announced sale of substantially all of the assets primarily related to or used in EMCORE's Space Photovoltaics business to SolAero Technologies Corp. (f/k/a Photon Acquisition Corporation), an affiliate of private equity firm Veritas Capital ("SolAero"), pursuant to the asset purchase agreement, dated as of September 17, 2014, as amended, by and between EMCORE and SolAero (the "Space Transaction").

The Space Transaction is expected to close on or about December 10, 2014, subject to the satisfaction or waiver of the remaining conditions to closing.

Source: Emcore

Contact

E-mail: via web site

Web Site: www.emcore.com