By Devika Patel
Knoxville, Tenn., Oct. 1 - Emcore Corp. said it negotiated a $25 million two-year committed equity financing facility with Commerce Court Small Cap Value Fund, Ltd.
The company may sell shares to Commerce at pre-negotiated discounts determined by a formula.
Proceeds will be used for general corporate purposes, which may include new product development, capital expenditures and increases in working capital.
Based in Albuquerque, N.M., Emcore is a provider of compound semiconductor-based components and subsystems for the broadband, fiber optic, satellite and solar power markets.
| Issuer: | Emcore Corp.
|
| Issue: | Committed equity financing facility
|
| Amount: | $25 million
|
| Tenor: | Two years
|
| Price: | Discounted
|
| Warrants: | No
|
| Investor: | Commerce Court Small Cap Value Fund, Ltd.
|
| Settlement date: | Oct. 1
|
| Stock symbol: | Nasdaq: EMKR
|
| Stock price: | $1.23 at close Oct. 1
|
| Market capitalization: | $99.3 million
|
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