EMCORE Corp. (EMKR) announced after the bell Wednesday that it has entered into a definitive agreement to sell its Space Photovoltaics business to an affiliate of private equity firm Veritas Capital for $150 million in cash.
EMCORE gapped open dramatically higher Thursday morning, but was range-bound throughout the session. The stock closed up by 1.08 at $5.37 on the highest volume of the year. EMCORE jumped to a 6-month high.
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