EMCORE Corporation finalises sale of shares in Entech Solar
21st 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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