Emcore Shareholders Approve Sale of Space Photovoltaics Business to Veritas Capital Affiliate

Emcore Corporation of Albuquerque, New Mexico USA, reported that its shareholders approved the previously announced sale of substantially all of the company’s assets primarily related to the company’s Space Photovoltaics business to SolAero Technologies Corp. (also known as Photon Acquisition Corporation), an affiliate of private equity firm Veritas Capital (SolAero). The sale is pursuant to the asset purchase agreement (known as the Space Transaction), dated September 17, 2014, as amended between Emcore and SolAero. 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.