New MEMS White Paper

Download the latest Logitech white paper and learn more about MEMS processing technology and techniques

 

 

 

News

12 April 2007

 

Emcore gets extension from Nasdaq

The request by Emcore Corp of Somerset, NJ, USA, which makes components and subsystems for the broadband, fiber-optic and photovoltaic applications, for continued listing on the Nasdaq Stock Market has been granted by the Nasdaq Listing Qualifications Panel, conditional on it filing both its Form 10-K report for the fiscal year to end September 2006 and its Form 10-Q report for the quarter to end December with the US Securities and Exchange Commission (SEC) no later than 10 May. If the firm is unable to file the required forms by 10 May, then it intends to request an additional extension from the panel.

Emcore has also reached an agreement under which holders of its 5% convertible senior subordinated notes due in 2011 will waive until end-February 2008 any defaults related to the firm’s failure to file the forms. The terms of the notes has also been amended so that the interest rate increases from 5% to 5.5% and the conversion price is reduced from $8.09 to $7.01 per share. Also, the noteholders granted Emcore the option to purchase 12% of the notes. The effect on stockholders will be a reduction in the indebtedness on Emcore’s balance sheet, with virtually no additional dilution to shareholders as a result of the change in the conversion price, the firm says.

See related items:

Emcore receives second NASDAQ delisting notice

Emcore's increased digital fiber-optics product sales offset delayed PV revenues

Emcore and Finisar receive Nasdaq delisting notices 

Visit: http://www.emcore.com