KVH sells inertial navigation business to EMCORE for ~$55M cash; pro forma losses widen

KVH INDUSTRIES INC DE

Disposed of inertial navigation segment to EMCORE (EMKR) on Aug 9, 2022 for ~$55M cash.
Pro forma net loss for FY2021 increases to $19.3M from $9.8M historical.
Pro forma net loss for H1 2022 increases to $7.3M from $6.1M historical.
Estimated transaction costs of $3.5M and $0.8M accelerated stock compensation.
Pro forma cash and marketable securities total ~$64.4M as of June 30, 2022.

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