Friday, December 01, 2006 1:20:27 AM
WWAT
Nov 30 (Reuters) - WorldWater & Power Corp. (WWAT.OB: Quote, Profile , Research) on Thursday said semiconductor products maker Emcore Corp. (EMKR.O: Quote, Profile , Research) agreed to buy a 26.5 percent stake on a diluted basis in WorldWater, for $18 million in cash.
In return, Emcore will receive convertible preferred stock and warrants of WorldWater, equivalent to about 31 percent equity ownership, Emcore said.
The companies agreed that Emcore would be the exclusive supplier of multi-junction solar cells, assemblies and concentrator subsystems to WorldWater with a contract of up to $100 million over the next three years. (Reporting by Sayantani Ghosh in Bangalore)
Nov 30 (Reuters) - WorldWater & Power Corp. (WWAT.OB: Quote, Profile , Research) on Thursday said semiconductor products maker Emcore Corp. (EMKR.O: Quote, Profile , Research) agreed to buy a 26.5 percent stake on a diluted basis in WorldWater, for $18 million in cash.
In return, Emcore will receive convertible preferred stock and warrants of WorldWater, equivalent to about 31 percent equity ownership, Emcore said.
The companies agreed that Emcore would be the exclusive supplier of multi-junction solar cells, assemblies and concentrator subsystems to WorldWater with a contract of up to $100 million over the next three years. (Reporting by Sayantani Ghosh in Bangalore)
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
