Velocity One Acquires Emcore in a $57.55 Million Cash Deal

Velocity One entered a merger agreement on November 8, 2024, to acquire EMCORE Corporation (EMKR) in an all-cash deal valued at about $57.55 million.

Deal Structure:

As per the agreement, EMCORE will become a wholly-owned subsidiary of Velocity One for a purchase price of $3.10 per share in cash, representing a 30.80% premium from the stock’s last close.

The deal is supported by Charlesbank Capital Partners, a private investment firm managing over $22 billion in assets as of June 2024.

Company Profile:

EMCORE is a provider of navigation systems and optical technology for aerospace, defense, and telecom industries, making products like gyroscopes, fiber-optic systems, and sensors.

Velocity One designs, manufactures, and supports a range of aerospace and defense products through its specialized units, committed to delivering high-quality, reliable solutions.

Deal Details and Timeline:

Through this deal, Velocity One will oversee three leading companies. Along with EMCORE, it will include Cartridge Actuated Devices, a company that designs and makes specialized energetic devices, and Aerosphere Power, which produces power systems for commercial and military aircraft, military vehicles, and drones.

Velocity One is paying 0.22 times sales for EMCORE.

EMCORE received an unsolicited bid from Mobix Labs (MOBX) at the end of September. Mobix had offered to acquire the company for $3.80 per share. The stock was trading at $1.21 before that offer.

Deal Metrics:

For in-depth analysis of this merger and acquisition transaction, please visit the Deal Metrics page at the following link:

Deal Metrics for the acquisition of EMCORE Corporation (EMKR) by Velocity One

The Deal Metrics page for each merger or acquisition includes:

• A spread history chart of the merger from announcement through eventual completion or failure.
• Every event as the merger progresses through the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
• News and SEC filings.
• A history of deal updates.
• And a whole lot more.

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Editor’s Note: Baranjot Kaur contributed to this article