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Stock impact report

Velocity One Signs Merger Agreement with EMCORE (EMKR)

EMCORE Corporation (EMKR) 
Last emcore corporation earnings: 2/5 04:15 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.emcore.com/investor-relations
Company Research Source: GlobeNewswire
FAIRFIELD, New Jersey, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Velocity One, a newly formed aerospace manufacturing holding company, announced today it has signed a merger agreement with EMCORE Corporation (Nasdaq: EMKR) (“EMCORE”), a provider of inertial navigation solutions to the aerospace and defense industry. Under the agreement, EMCORE will become a wholly owned subsidiary of Velocity One. The purchase price of $3.10 per share in cash, backed by Charlesbank Capital Partners (“Charlesbank”), a private investment firm with more than $22 billion of total assets*, has been unanimously approved by the EMCORE board of directors. Velocity One will now have three industry leaders operating under its wing. In addition to EMCORE, it will comprise Cartridge Actuated Devices, Inc. (“CAD”), a 50-year veteran designer and manufacturer of energetic devices, and Aerosphere Power, a manufacturer of power system solutions for commercial and military aerospace, military ground vehicles, and UAV appli Show less Read more
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