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Article: Uniroyal Technology Corporation Purchases Equity Position In Emcore Corporation.
- Article from:
- PR Newswire
- Article date:
- December 9, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SARASOTA, Fla., Dec. 9 /PRNewswire/ -- In a filing today with the Securities and Exchange Commission, Uniroyal Technology Corporation (Nasdaq: UTCI) reported that it has purchased for approximately $9 million or $14 per share, convertible preferred stock of Emcore Corporation (EMKR), that when converted would represent approximately 6.4% of the outstanding common shares of Emcore.
"With this purchase Uniroyal Technology Corporation continues to strengthen its strategic alliance with Emcore," said Howard R. Curd, Chairman and CEO of Uniroyal Technology Corporation. Early this year Uniroyal Technology Corporation announced the formation of Uniroyal Optoelectonics, ...