8-K: Current report filing
Published on August 6, 1998
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
June 22, 1998
EMCORE CORPORATION
(Exact name of registrant as specified in its charter)
New Jersey 000-22175 22-2746503
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
394 Elizabeth Avenue
Somerset, New Jersey 08873
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (732) 271-9090
Item 5. Other Events
On June 22, 1998 the Company issued 227,749 warrants to purchase common
stock of the Company to Thomas Russell, Chairman of the Board of Directors of
the Company and 56,937 warrants to purchase common stock of the Company to
Reuben Richards, President, Chief Executive Officer and a director of the
Company. The warrants are exercisable at a price of $11.375 and expire on May 1,
2001. These warrants were granted in exchange for the guarantee by these
executives of an $8 million credit facility entered into by the Company on June
22, 1998 with First Union Bank. The credit facility will be used to finance
general corporate purposes, including, but not limited to, the construction of a
facility in Albuquerque, New Mexico. The term of the credit facility is 18
months and the interest rate is at LIBOR plus 0.75%. The Company received a
fairness opinion from its investment bank, Hempstead & Company, that this
transaction was fair from a financial point of view to the Company's
non-participating shareholders.
Item 7. Financial Statements and Exhibits
(a) None.
(b) None.
(c) None.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
EMCORE CORPORATION
(Registrant)
By: /s/ Thomas G. Werthan
--------------------------------
Name: Thomas G. Werthan
Title: Chief Financial Officer
and Secretary
Dated: August 4, 1998