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Synergistic Acquisition would enhance Mobix Labs' competitive strength in aerospace and defense sector
Scales operations and cash flow
Mobix Labs, Inc. (NASDAQ:MOBX) ("Mobix Labs", "Mobix" or the "Company"), a leader in advanced wireless and connectivity solutions for the military and defense sector, today announced it has submitted a compelling non-binding proposal to the Board of Directors of EMCORE Corporation (NASDAQ:EMKR) ("Emcore"), the world's largest independent provider of inertial navigation solutions to the aerospace and defense industry, to acquire all of EMCORE's outstanding shares 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.
