Irvine-based chip startup Mobix Labs (Nasdaq: MOBX) said today it has submitted an offer to acquire aerospace and defense supplier Emcore Corp. (Nasdaq: EMKR)Â for $3.80 per share in cash.
“Mobix Labs’ all cash proposed offer to the Emcore board represents a more than 200% premium over Emcore’s current stock price as of September 27, 2024. Based upon its 2022 and 2023 10-K filings, Emcore’s revenue in its fiscal year ending 9/30/23 grew 115% to $97 million from the prior year,” Mobix said in a statement today.
Mobix shares fell almost 1% to $1.03 apiece for a market cap of $26.1 million.
Shares of Alhambra-based Emcore finished up 83% at $2.21 apiece for a market cap of $20 million.
For further details, see the Oct. 7 print edition.
