Emcore Corp. (EMKR), a manufacturer of compound semiconductor-based products, on Monday said that it agreed to sell 2 million shares of series D preferred stock of WorldWater & Solar Technologies Corp. (WWAT.OB), together with 200,000 warrants, to Quercus Trust, a major shareholder of both Emcore and WorldWater, for $6.54 per share.
The series D preferred stock is convertible into WorldWater common stock at a ratio of 10 to 1, and each of the warrants entitles the holder to purchase a share of series D preferred stock for $3.17 per share.
The company noted that the series D preferred stock of WorldWater offer was made through two closings, one for 1 million shares and 100,000 warrants, which closed on June 27. The second offering is for an equal number of shares and warrants, to close before July 31.
The Albuquerque, New Mexico-based company said it will receive total proceeds of about $13.1 million from the sale. Emcore said it sold 2.2 million of its 5.4 million shares and warrants of WorldWater, representing a 130% return on investment.
EMKR closed Monday's regular trading session at $6.26, down 97 cents or 13.42%. WWAT.OB ended Monday's regular trading session at $0.71, up 2 cents or 2.45%.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.