Emcore (EMKR) Selling WorldWater & Solar Technologies Corporation Shares To Raise Funds

Posted by Alison Kroulek | # |
10:20:47 am on January 9, 2009

Emcore Corporation plans to raise $11.4 million by selling its shares in WorldWater & Solar Technologies Corporation. Emcore purchased shares in the New Jersey solar and water management company in 2006. So far, the company has sold 1,446,428 share of Worldwater Stock, raising $5.7 million. In the second closing, Emcore expects to net another $5.7 million. Emcore will realize a return of 75% on its original investment in the company.

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