Summary by Moomoo AI
Mobix Labs has submitted a non-binding proposal to acquire all outstanding shares of EMCORE Corporation for $3.80 per share in cash, representing a 200% premium over EMCORE's stock price as of September 27, 2023. The offer aims to enhance Mobix Labs' position in the aerospace and defense sector, leveraging EMCORE's inertial navigation solutions.The proposed acquisition would integrate EMCORE's products with Mobix Labs' recent strategic acquisitions, including EMI Solutions and RaGE Systems, to accelerate growth in critical markets. EMCORE's revenue grew 115% to $97 million in the fiscal year ending September 30, 2023. The all-cash offer is subject to EMCORE Board approval and execution of a definitive agreement.Mobix Labs, led by industry veterans including former executives from Microsemi and Skyworks Solutions, specializes in EMI Interconnect Solutions, Active Optical Cables, 5G IC Solutions, and Wireless Systems Solutions. The company emphasizes that this proposal offers EMCORE shareholders an opportunity for immediate and significant value realization.
