Skip to main content

Emcore Corp (EMKR-Q) Quote - Press Release

Unchecking box will stop auto data updates
Cboe BZX Real-Time Last Sale USD
Today's Change
Volume
Price Quote as of

More stories below advertisement

EMCORE Enters into a Purchase Agreement for its Concord Facility

GlobeNewswire - Mon Jan 6, 3:27PM CST

EMCORE Corporation (NASDAQ:EMKR), a leading provider of advanced Mixed-Signal Optics products that provide the foundation for today's leading-edge defense systems and high-speed communication network infrastructures, announced it has entered into a purchase agreement for a sale and leaseback transaction.

Under the terms of the purchase agreement, EMCORE agreed to sell its property in Concord, California for a total purchase price of $13.4 million. EMCORE anticipates that the close of the sale and leaseback transaction will occur in the first calendar quarter of 2020, subject to satisfaction of certain customary closing conditions for transactions of this type.

About EMCORE

EMCORE Corporation is a leading provider of advanced Mixed-Signal Optics products that provide the foundation for today's leading-edge defense systems and high-speed communication network infrastructures. Our optical chips, components, subsystems and systems enable broadband and wireless providers to continually enhance their network capacity, speed and coverage to advance the free flow of information that empowers the lives of millions of people daily. The Mixed-Signal Optics technology at the heart of our broadband transmission products is shared with our fiber optic gyros and military communications links to provide the aerospace and defense markets state-of-the-art systems that keep us safe in an increasingly unpredictable world. EMCORE's performance-leading optical components and systems serve a broad array of applications including navigation systems and military communications, cable television, fiber-to-the-premise networks, telecommunications, data centers, wireless infrastructure and satellite RF fiber links. EMCORE has fully vertically-integrated manufacturing capability through its world-class Indium Phosphide (InP) wafer fabrication facility at our headquarters in Alhambra, California, and is ISO 9001 certified in Alhambra and at our facility in Beijing, China. For more information, please visit www.emcore.com.

Forward-looking statements:

The information provided herein may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include statements regarding the closing and the anticipated timing of such closing of the sale and leaseback transaction. These forward-looking statements are based on management's current expectations, estimates, forecasts and projections about EMCORE and are subject to risks and uncertainties that could cause actual results and events to differ materially from those stated in the forward-looking statements, including without limitation, the following: (a) the ability of EMCORE to meet its closing conditions to the sale and leaseback transaction; (b) the risk that the timing of the sale and leaseback transaction is delayed or that the transaction does not occur at all; and (c) other risks and uncertainties discussed under Item 1A - Risk Factors in our Annual Report on Form 10-K for the fiscal year ended September 30, 2018, as updated by our subsequent periodic reports. Forward-looking statements contained in this press release are made only as of the date hereof, and EMCORE undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

EMCORE Corporation

Tom Minichiello

(626) 293-3400

investor@emcore.com

Sapphire Investor Relations, LLC

Erica Mannion or Michael Funari

(617) 542-6180

investor@emcore.com

https://ml.globenewswire.com/media/b0bece38-0f79-4a45-bcea-64671e6b5213/small/emcore-color-logo-gray-pms-cool-gray-10r-large-png.png

More stories below advertisement

All market data (will open in new tab) is provided by Barchart Solutions. Copyright © 2020.

Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. For exchange delays and terms of use, please read disclaimer (will open in new tab).

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies