18 June 2015

Emcore announces updated preliminary results of $45m modified Dutch auction tender offer

Emcore Corp of Alhambra, CA, USA (which provides compound semiconductor-based components, subsystems and systems for the broadband and specialty fiber-optics market) has announced updated preliminary results of its modified Dutch auction tender offer (pursuant to an Offer to Purchase and Letter of Transmittal, each dated 15 May), which expired on 15 June.

Based on the preliminary count by American Stock Transfer & Trust Company LLC (the depositary for the tender offer), 8,771,948 shares of Emcore common stock were properly tendered and not withdrawn at or below $6.55 per share, including 837,416 shares that were tendered through a notice of guaranteed delivery. Due to the tender offer being oversubscribed, Emcore expects to purchase only a pro-rated portion of the shares properly tendered by each tendering stockholder (other than 'odd lot' holders whose shares will be purchased on a priority basis) at or below the final per share purchase price.

In accordance with the terms and conditions of the tender offer and based on a preliminary count by the depositary, Emcore expects to accept for purchase about 6,870,229 shares at $6.55 per share, for a total cost of about $45m (excluding fees and expenses related to the tender offer).

The number of shares to be purchased, the purchase price per share, and aggregate purchase price are preliminary and subject to change, are based on shares tendered through notice of guaranteed delivery being delivered within the applicable three-business-day period (which may not occur), and are subject to verification by the depositary. The final number of shares purchased, the final purchase price per share, and aggregate purchase price will be announced after expiration of the guaranteed delivery period and completion of the verification process. Payment for the shares accepted for purchase under the tender offer, and return of all other shares tendered and not purchased, will occur promptly thereafter.

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Emcore announces preliminary results of $45m modified Dutch auction tender offer

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Visit: www.emcore.com