EMCORE Corporation Adopts Tax Benefits Preservation Plan to Protect Tax Assets
ALHAMBRA, CA, Sept. 28, 2023 (GLOBE NEWSWIRE) -- (NASDAQ:EMKR) EMCORE Corporation ("EMCORE") announced today that its Board of Directors has approved the adoption of a tax benefits preservation plan ("the plan") in the form of a Section 382 rights agreement designed to protect and preserve the long-term value of certain tax attributes primarily associated with net operating loss carryforwards. EMCORE intends to submit the plan, which is similar to tax benefits preservation plans adopted by many other public companies with significant tax attributes, for shareholder ratification at its 2024 annual meeting of shareholders. As of September 30, 2022, EMCORE had approximately $424.9 million o
