08:54 AM EST, 11/08/2024 (MT Newswires) -- EMCORE ( EMKR ) shares were over 28% higher in Friday's premarket activity after the company agreed to be acquired by aerospace manufacturing holding company Velocity One for $3.10 apiece in cash.

EMCORE ( EMKR ) will become a wholly owned subsidiary of Velocity One under the deal, which was unanimously approved by EMCORE's ( EMKR ) board, the company said.

Price: 3.0400, Change: +0.67, Percent Change: +28.27