secwatch.observer — SEC 8-K summary
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Issuer:     EMCORE CORP (—)
CIK:        0000808326
Form:       8-K
Filed at:   2023-09-28T23:59:59+00:00
Accession:  0001104659-23-104745
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EMCORE adopts Section 382 plan to protect $424.9M NOLs from ownership change dilution
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- Board approved a tax benefits preservation plan effective Sept 28, 2023, with a 4.99% ownership trigger.
- Company had $424.9 million in federal NOLs as of Sept 30, 2022, which could be limited by an ownership change.
- Plan distributes one preferred share purchase right per common share; record date Oct 12, 2023.
- Rights expire no later than Sept 28, 2026, unless earlier redeemed, exchanged, or shareholder ratification fails at 2024 annual meeting.
- The plan is intended to deter acquisitions of 4.99%+ without Board approval, reducing risk of NOL impairment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/808326/000110465923104745/0001104659-23-104745-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/808326/000110465923104745/tm2326971d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-104745

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