EMCORE Corporation finalises sale of shares in Entech Solar

21 January 2009

Solar components provider EMCORE Corporation has finalised the second closing of a two step sales transaction of its remaining interests in Entech Solar, formerly known as WorldWater & Solar Technologies Corporation.

In the second closing, the company sold 1,446,428 shares of WorldWater Series D convertible preferred stock and 152,522 warrants to purchase shares of convertible preferred stock to the Quercus Trust for approximately $5.9m.

With the completion of this latest sale in a series of four sales transactions, EMCORE has realised a 75 per cent return on its investment in WorldWater securities.

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Tags: solar

This story was published on Wednesday, January 21st, 2009 at 1:34 pm and is filed under North America, companies, energy efficiency, solar. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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