Mobix Labs Submits All Cash Offer to Acquire EMCORE Corporation
Mobix Labs (Nasdaq: MOBX) has submitted a non-binding proposal to acquire EMCORE (Nasdaq: EMKR) for $3.80 per share in cash. This offer represents a 200% premium over EMCORE's stock price as of September 27, 2024. EMCORE, the world's largest independent provider of inertial navigation solutions for aerospace and defense, reported 115% revenue growth to $97 million in fiscal year 2023.
Mobix Labs CEO Fabian Battaglia stated that this acquisition would provide significant value for EMCORE shareholders and accelerate Mobix's growth in critical markets. The proposal has the support of Mobix Labs' Board of Directors, which includes industry veterans James Peterson and David Aldrich. The transaction is subject to EMCORE Board approval, a definitive agreement, and any required shareholder approval.
Mobix Labs (Nasdaq: MOBX) ha presentato una proposta non vincolante per acquisire EMCORE (Nasdaq: EMKR) a $3.80 per azione in contante. Questa offerta rappresenta un premio del 200% rispetto al prezzo delle azioni di EMCORE al 27 settembre 2024. EMCORE, il più grande fornitore indipendente al mondo di soluzioni di navigazione inerziale per l'aerospaziale e la difesa, ha riportato una crescita dei ricavi del 115% raggiungendo $97 milioni nell'anno fiscale 2023.
Il CEO di Mobix Labs, Fabian Battaglia, ha dichiarato che questa acquisizione fornirebbe un valore significativo per gli azionisti di EMCORE e accelererebbe la crescita di Mobix in mercati critici. La proposta ha il supporto del Consiglio di Amministrazione di Mobix Labs, che include veterani del settore come James Peterson e David Aldrich. La transazione è soggetta all'approvazione del Consiglio di EMCORE, di un accordo definitivo e di qualsiasi approvazione richiesta degli azionisti.
Mobix Labs (Nasdaq: MOBX) ha presentado una propuesta no vinculante para adquirir EMCORE (Nasdaq: EMKR) por $3.80 por acción en efectivo. Esta oferta representa un premio del 200% sobre el precio de las acciones de EMCORE al 27 de septiembre de 2024. EMCORE, el mayor proveedor independiente de soluciones de navegación inercial para aeroespacial y defensa, reportó un crecimiento de ingresos del 115% alcanzando los $97 millones en el año fiscal 2023.
El CEO de Mobix Labs, Fabian Battaglia, declaró que esta adquisición proporcionaría un valor significativo para los accionistas de EMCORE y aceleraría el crecimiento de Mobix en mercados críticos. La propuesta cuenta con el apoyo de la Junta Directiva de Mobix Labs, que incluye a veteranos de la industria como James Peterson y David Aldrich. La transacción está sujeta a la aprobación de la Junta de EMCORE, un acuerdo definitivo y cualquier aprobación requerida de los accionistas.
Mobix Labs (Nasdaq: MOBX)가 비구속 제안을 제출하여 EMCORE (Nasdaq: EMKR)를 주당 $3.80 현금으로 인수할 계획입니다. 이 제안은 2024년 9월 27일 기준으로 EMCORE의 주가에 대해 200% 프리미엄을 나타냅니다. EMCORE는 항공 우주 및 방위를 위한 관성 항법 솔루션의 세계 최대 독립 공급업체로서, 2023 회계 연도에 115%의 수익 성장을 기록하여 9,700만 달러에 도달했습니다.
Mobix Labs의 CEO인 Fabian Battaglia는 이번 인수가 EMCORE 주주에게 상당한 가치를 제공하고 Mobix의 중요한 시장 성장 속도를 높일 것이라고 밝혔습니다. 이 제안은 업계 베테랑인 James Peterson과 David Aldrich가 포함된 Mobix Labs 이사회의 지지를 받고 있습니다. 이 거래는 EMCORE 이사회의 승인, 최종 계약 및 필요한 주주 승인에 따라 달라집니다.
Mobix Labs (Nasdaq: MOBX) a soumis une proposition non contraignante pour acquérir EMCORE (Nasdaq: EMKR) pour $3.80 par action en espèces. Cette offre représente une prime de 200% par rapport au prix de l'action d'EMCORE au 27 septembre 2024. EMCORE, le plus grand fournisseur indépendant de solutions de navigation inertielle pour l'aérospatiale et la défense, a signalé une croissance des revenus de 115% atteignant 97 millions de dollars pour l'exercice 2023.
Le PDG de Mobix Labs, Fabian Battaglia, a déclaré que cette acquisition apporterait une valeur significative pour les actionnaires d'EMCORE et accélérerait la croissance de Mobix sur des marchés critiques. La proposition bénéficie du soutien du Conseil d'Administration de Mobix Labs, qui comprend des vétérans de l'industrie tels que James Peterson et David Aldrich. La transaction est soumise à l'approbation du Conseil d'EMCORE, à un accord définitif et à toute approbation nécessaire des actionnaires.
Mobix Labs (Nasdaq: MOBX) hat einen unverbindlichen Vorschlag zur Übernahme von EMCORE (Nasdaq: EMKR) für $3.80 pro Aktie in bar eingereicht. Dieses Angebot stellt einen 200% Aufschlag auf den Aktienkurs von EMCORE am 27. September 2024 dar. EMCORE, der weltweit größte unabhängige Anbieter von Inertialnavigationslösungen für Luft- und Raumfahrt sowie Verteidigung, berichtete von einem Umsatzwachstum von 115% und erreichte im Geschäftsjahr 2023 97 Millionen US-Dollar.
Der CEO von Mobix Labs, Fabian Battaglia, erklärte, dass diese Übernahme den EMCORE-Aktionären erheblichen Wert bieten und das Wachstum von Mobix in wichtigen Märkten beschleunigen würde. Der Vorschlag wird von dem Vorstand von Mobix Labs unterstützt, zu dem Branchenveteranen wie James Peterson und David Aldrich gehören. Die Transaktion steht unter dem Vorbehalt der Genehmigung durch den EMCORE-Vorstand, einer endgültigen Vereinbarung und aller erforderlichen Genehmigungen der Aktionäre.
- Mobix Labs offers a 200% premium over EMCORE's current stock price
- EMCORE reported 115% revenue growth to $97 million in fiscal year 2023
- Acquisition would enhance Mobix Labs' competitive strength in aerospace and defense sector
- Potential for accelerated growth and innovation in critical markets
- All-cash offer provides immediate value for EMCORE shareholders
- Acquisition is subject to EMCORE Board approval and shareholder approval
- Proposal is non-binding at this stage
- Potential integration challenges between Mobix Labs and EMCORE
Insights
This proposed acquisition by Mobix Labs of EMCORE is a significant move that could reshape the competitive landscape in the aerospace and defense sector. The
EMCORE's recent financial performance is noteworthy, with revenue growth of
For investors, this deal presents both opportunities and risks. EMCORE shareholders stand to gain from the substantial premium, while Mobix Labs investors should consider the potential for increased market share and synergies, balanced against the financial implications of the all-cash transaction. The involvement of industry veterans like James Peterson and David Aldrich on Mobix Labs' board adds credibility to the strategic rationale behind this move.
This proposed acquisition marks a strategic pivot for Mobix Labs, potentially transforming it into a more formidable player in the aerospace and defense sector. EMCORE's expertise in inertial navigation systems complements Mobix Labs' existing portfolio of wireless and connectivity solutions, creating a more comprehensive offering for military and defense clients.
The integration of EMCORE's products with Mobix Labs' recent acquisitions of EMI Solutions and RaGE Systems could lead to innovative synergies, particularly in high-reliability electronics for critical applications. This consolidation trend in the defense electronics sector is driven by the need for integrated, advanced solutions in modern warfare and defense systems.
From a competitive standpoint, this acquisition could position Mobix Labs as a more significant supplier to major defense contractors and government agencies. The combined entity would likely have enhanced capabilities to address complex requirements in land, sea, air and space applications, potentially leading to larger contract opportunities and increased market share in the defense electronics space.
Synergistic Acquisition would enhance Mobix Labs’ competitive strength in aerospace and defense sector
Scales operations and cash flow
Mobix Labs’ all cash proposed offer to the EMCORE Board represents a more than
EMCORE is a leading supplier of inertial sensors and systems for land, sea, air, and space applications in the aerospace and defense market. “We believe this proposal presents an exceptional opportunity for EMCORE shareholders to realize immediate and significant value for their investment,” said Fabian Battaglia, CEO of Mobix Labs. “Our recent strategic acquisitions, including EMI Solutions and RaGE Systems, have significantly strengthened our position in the military, defense, and high-reliability electronics sector,” Battaglia added. “We believe integrating EMCORE's products would further accelerate our growth and innovation in critical markets.”
Mobix Labs is led by seasoned industry veterans, including Board of Directors members James Peterson, former CEO and Chairman of Microsemi, and David Aldrich, former CEO and Chairman of Skyworks Solutions.
Transaction Details
Mobix Labs’ proposal has the support of its Board of Directors. Mobix Labs’ all cash offer is subject to the approval of the EMCORE Board of Directors, the execution of a definitive agreement between Mobix Labs and EMCORE, and any shareholder approval that may be required by law.
About Mobix Labs, Inc.
At Mobix Labs, we’re committed to transforming connectivity by partnering closely with our customers to deliver advanced semiconductor and wireless systems solutions tailored to their needs. Based in
Mobix Labs, the logo, and SMART™ Edge Device are among the trademarks of Mobix Labs. Other trademarks are the property of their respective owners.
Forward-looking Information
This press release and the related earnings call contain “forward-looking statements” regarding the intent, beliefs or current expectations of the Company for purposes of the federal securities laws. These forward-looking statements include, but are not limited to, statements regarding Mobix Labs, Inc. and Mobix Labs, Inc.’s management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would,” “poised” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this presentation and discussion may include, for example, statements regarding our proposal to acquire EMCORE, the value to EMCORE shareholders, the expected per-share price, and the expected synergies and operations of the companies on a combined basis. These forward-looking statements are based on information available as of the date of this presentation and discussion, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we undertake no obligations to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
As a result of a number of known and unknown risks and uncertainties, our actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include the outcome of discussions between Mobix Labs and EMCORE with respect to a proposed transaction, including the possibility that the parties may not agree to pursue a business combination or that the terms of any transaction will be materially different from those described herein; our ability to consummate the proposed acquisition or achieve the expected synergies and/or efficiencies; our ability to consummate the financing to acquire the EMCORE shares; potential regulatory delays; the industry and market reaction to our proposal to acquire EMCORE; the effect of the announcement of the proposed transaction on the ability of Mobix Labs and EMCORE to operate their businesses and retain and hire key personnel and to maintain favorable business relationships; the possibility that the integration of EMCORE may be more difficult, time-consuming or costly than expected or that operating costs and business disruptions may be greater than expected; the risk that the price of our securities may be volatile due to a variety of factors, including changes in the highly competitive industries in which we operate, variations in performance across competitors, changes in laws, regulations, technologies, the global supply chain, and macro-economic and social environments affecting our business; our ability to regain compliance and maintain our listing of securities on Nasdaq; the risks concerning our ability to continue as a going concern; the inability to meet future capital requirements and risks related to our ability to raise additional capital including potential dilution to our stockholders; the risk that we are unable to successfully commercialize our products and solutions, or experience significant delays in doing so; the risk that we may not be able to generate income from operations in the foreseeable future; the risk that we experience difficulties in managing our growth and expanding operations; the risk that we may not be able to consummate planned strategic acquisitions, or fully realize anticipated benefits or capture synergies from past or future acquisitions or investments; the risk that we may be unable to successfully defend ourselves in ongoing litigation or that additional actions may be commenced against us; the risk that our patent applications may not be approved or may take longer than expected, and we may incur substantial costs in enforcing and protecting our intellectual property; the risk of being an early stage company and that our limited operating history may make it difficult to evaluate our future prospects and the risks and challenges that we may encounter; the risk that we cannot predict whether we will maintain revenue growth; the risk that the markets for our products and solutions are highly competitive; the risk that future sales of our Class A Common Stock may cause the market price of our Class A Common Stock to drop significantly, even if our business is doing well; and inflation and unfavorable global economic conditions could adversely affect our business. In addition, these forward-looking statements and the information in this press release are qualified in their entirety by cautionary statements and risk factor disclosures contained in the Company’s Securities and Exchange Commission (“SEC”) filings, including the Company’s prospectus filed on August 29, 2024, its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 and any subsequent SEC filings. All forward-looking statements in this press release are based on information available to us on the date hereof, and we assume no obligation to update such statements.
No Offer or Solicitation
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the
This press release is also not a solicitation of a proxy nor a substitute for any proxy statement or other filings that may be made with the SEC. Nonetheless, Mobix Labs and its directors and executive officers may be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Information about the directors and executive officers of Mobix Labs is set forth in the prospectus filed with the SEC on August 29, 2024. These documents can be obtained free of charge from the sources indicated above. Additional information regarding the potential participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in one or more proxy statements, or other documents filed with the SEC if and when they become available.
Additional Information and Where to Find It
This press release relates to a proposal that Mobix Labs has made to acquire EMCORE. In furtherance of this proposal and subject to future developments, Mobix Labs and EMCORE may file one or more proxy statements or other documents with the SEC. This press release is not a substitute for any proxy statement or other document Mobix Labs and/or EMCORE may file with the SEC in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS OF MOBIX LABS AND EMCORE ARE URGED TO READ THE PROXY STATEMENT(S), AND/OR OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Any definitive proxy statement(s) (if and when available) will be mailed to security holders of Mobix Labs and/or EMCORE, as applicable. Investors and security holders will be able to obtain free copies of these documents (if and when available) and other documents filed with the SEC by Mobix Labs through the website maintained by the SEC at www.sec.gov, and by visiting Mobix Labs’ investor relations site at https://investors.mobixlabs.com.
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Source: Mobix Labs, Inc.
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