EMCORE Announces Anticipated Sale of Non-Strategic Product Lines - Seite 2
Notwithstanding the foregoing, there can be no assurance that a definitive agreement will be entered into by the parties or that a transaction will be consummated by the parties on the terms described above or at all.
About EMCORE
EMCORE Corporation is a leading provider of inertial navigation products for the aerospace and defense markets. We leverage industry-leading Photonic Integrated Chip (PIC), Quartz MEMS, and Lithium
Niobate chip-level technology to deliver state-of-the-art component and system-level products across our end-market applications. EMCORE has vertically-integrated manufacturing capability at its
facilities in Alhambra, CA, Budd Lake, NJ, Concord, CA, and Tinley Park, IL. Our manufacturing facilities all maintain ISO 9001 quality management certification, and we are AS9100 aerospace quality
certified at our facilities in Alhambra, Budd Lake, and Concord. For further information about EMCORE, please visit https://www.emcore.com.
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Forward-looking statements:
The information provided herein may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as
amended. Such statements include statements regarding EMCORE's plans, strategies, goals and business prospects; the terms and conditions of the proposed transaction, the timing of the execution of
definitive transaction documents, the expectation that the proposed transaction will occur, and our expected revenue pursuant to last time buys. These forward-looking statements are based on
management's current expectations, estimates, forecasts, and projections about EMCORE and are subject to risks and uncertainties that could cause actual results and events to differ materially from
those stated in the forward-looking statements, including without limitation, the following: (a) the risks related to the expected sale of the Broadband and Defense Optoelectronics business lines,
including without limitation the failure to successfully negotiate or execute definitive transaction agreements, termination of definitive agreement prior to closing, failure to achieve any
anticipated proceeds from any such sale or to fully realize the anticipated benefits of such a transaction, even if the potential transaction occurs, diversion of management’s time and attention
from our remaining businesses to the sales of such businesses, third party costs incurred by us related to any such transaction, and risks associated with any liabilities related to the transaction
or any such assets or business that are retained by us in any sale transaction; (b) risks and uncertainties related to our current expectations with respect to potential revenues arising from last
time buys by our Broadband and Defense Optoelectronics customers; (c) any disruptions to our operations as a result of our restructuring activities, the ability to successfully execute our
restructuring program and achieve the intended benefits thereof on the expected timeframe or at all, and unforeseen or greater than expected costs associated with the restructuring; (d) risks
related to the loss of personnel; (e) risks related to customer and vendor relationships and contractual obligations; (f) risks related to the closing of our manufacturing support and engineering
center in China; (g) the rapidly evolving markets for our products and uncertainty regarding the development of these markets; (h) our historical dependence on sales to a limited number of
customers and fluctuations in the mix of products and customers in any period; (i) the effect of component shortages and uncertainties concerning the availability and cost of commodity materials
and specialized product components that we do not make internally; (j) actions by competitors; (k) risks and uncertainties related to applicable laws and regulations; (l) risks and uncertainties
related to manufacturing and production capacity; (m) risks related to the conversion of order backlog into product revenue; and (n) other risks and uncertainties discussed under Item 1A - Risk
Factors in our Annual Report on Form 10-K for the fiscal year ended September 30, 2022, as updated by our subsequent periodic reports. Forward-looking statements contained in this press release are
made only as of the date hereof, and EMCORE undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.