Tag Archives: Additional Information

Business, Finance, Occupation & Industry

First Manhattan Co. Issues Statement on Expected REMS Modification for Qsymia

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First Manhattan Co. Issues Statement on Expected REMS Modification for Qsymia

NEW YORK–(BUSINESS WIRE)– First Manhattan Co. (FMC), an owner-operated investment advisory firm and the beneficial holder of approximately 9.1 percent of the outstanding shares of VIVUS, Inc. (“Vivus”) (NAS: VVUS) , today issued the following statement in anticipation of the expected announcement from Vivus that its obesity treatment Qsymia has received a modification in its Risk Evaluation and Mitigation Strategy (REMS):

“The REMS modification for Qsymia, which VIVUS should obtain, will be a step forward. It is necessary but not sufficient for Qsymia’s success. In the right hands, retail distribution through certified pharmacies would enable Qsymia to reach the drug’s full potential for Vivus shareholders. Achieving this goal requires a new commercial strategy, including the execution of the right partnership strategy. Qsymia should be the drug of choice for many Americans suffering from obesity and its devastating medical consequences.

FMC has notified Vivus that it intends to nominate six highly qualified directors at the Company’s 2013 annual meeting of stockholders. The FMC nominees are independent of management and will provide objective stewardship of Qsymia’s commercialization. They will seek out all the facts, not just the views favored by management. The FMC nominees have deep experience in pharmaceutical commercialization, regulatory affairs, public-company finance, and turnaround expertise. They are committed to fixing the fundamental problems at Vivus, reversing the failed Qsymia launch and creating durable value for all Vivus shareholders.”


About First Manhattan Co.

First Manhattan Co. (“FMC“) was founded in 1964 and remains an owner-operated investment advisory firm. FMC is registered with the U.S. Securities and Exchange Commission as an investment adviser and as a broker-dealer, and is a member of the Financial Industry Regulatory Authority (FINRA).

FMC provides professional investment management services primarily to high net worth individuals as well as to partnerships, trusts, retirement accounts, pension plans and institutional clients. The firm currently manages in excess of $14 billion.


Additional Information

FIRST MANHATTAN CO., FIRST HEALTH, L.P., FIRST HEALTH LIMITED, FIRST HEALTH ASSOCIATES, L.P., FIRST BIOMED MANAGEMENT …read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Bluegreen Corporation Completes Merger with Subsidiary of BFC Financial Corporation

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Bluegreen Corporation Completes Merger with Subsidiary of BFC Financial Corporation

FORT LAUDERDALE, Fla. & BOCA RATON, Fla.–(BUSINESS WIRE)– BFC Financial Corporation (“BFC” or the “Company”) (OTCQB: BFCF) and Bluegreen Corporation (“Bluegreen”) (NYS: BXG) today announced that the previously announced merger of Bluegreen into Woodbridge Holdings, LLC (“Woodbridge”), a wholly-owned subsidiary of BFC, became effective as of the close of trading today.

Under the terms of the merger agreement, each outstanding share of Bluegreen’s Common Stock (other than those shares held directly or indirectly by BFC and shares owned by holders who exercised and perfected their appraisal rights in accordance with Massachusetts law) have been converted into the right to receive $10.00 in cash, without interest thereon and less any applicable withholding taxes. See “AdditionaI Information for Bluegreen Shareholders,” below.


Additional Information for Bluegreen Shareholders

If you are a shareholder of Bluegreen’s Common Stock as of the close of trading on April 2, 2013, Computershare Trust Company, N.A. and Computershare, Inc. (collectively “Computershare”), the paying agent retained for purposes of the merger, will mail to you a letter of transmittal and instructions explaining how to surrender your shares of Bluegreen’s Common Stock for payment of the merger consideration to which you are entitled. After you return the proper documentation to the paying agent, Computershare will issue and deliver to you a check for the amount of cash you are entitled to receive. Bluegreen’s shareholders should not send in their stock certificates until they are requested to do so by Computershare. If your shares of Bluegreen’s Common Stock are held in “street name” by your bank, broker or other nominee, you will receive instructions from your bank, broker or other nominee on any actions you may need to take to receive the merger consideration for those shares.

ABOUT BLUEGREEN CORPORATION

Founded in 1966 and headquartered in Boca Raton, FL, Bluegreen Corporation (NYS: BXG) is a leading timeshare sales, marketing and resort management company. Bluegreen manages, markets and sells the Bluegreen Vacation Club, a flexible, points-based, deeded vacation ownership plan with more than 160,000 owners, …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Two Harbors Investment Corp. Announces Certain Adjustments to its Warrants

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Two Harbors Investment Corp. Announces Certain Adjustments to its Warrants

NEW YORK–(BUSINESS WIRE)– Two Harbors Investment Corp. (NYSE: TWO; NYSE MKT: TWO.WS) today announced certain adjustments to the terms of its outstanding warrants as a result of its previously-announced special dividend of shares of Silver Bay common stock to Two Harbors stockholders of record as of April 2, 2013 (the “Silver Bay stock dividend”).

As previously announced, under the terms of the Warrant Agreement governing the warrants to purchase shares of the company’s common stock, the declaration of the Silver Bay stock dividend by the company triggered an adjustment to (1) the exercise price per share payable upon exercise of the warrants (previously, $11.00 per warrant share), and (2) the number of shares of company common stock issuable upon exercise of the warrants and payment of the exercise price therefore (previously, one share of common stock per warrant share exercised). As a result, the exercise price is now $10.25 per warrant share and, upon exercise of their warrants, warrant holders will receive 1.0727 shares of the company’s common stock for each warrant exercised.

The warrant adjustments will apply only to warrants outstanding as of the closing of business on April 2, 2013. As of April 2, 2013, approximately 4.8 million warrants remained outstanding. The warrants expire on November 7, 2013.

Two Harbors Investment Corp.

Two Harbors Investment Corp., a Maryland corporation, is a real estate investment trust that invests in residential mortgage-backed securities, residential mortgage loans and other financial assets. Two Harbors is headquartered in Minnetonka, Minnesota, and is externally managed and advised by PRCM Advisers LLC, a wholly-owned subsidiary of Pine River Capital Management L.P. Additional information is available at www.twoharborsinvestment.com.

Additional Information

Stockholders and warrant holders of Two Harbors, and other interested persons, may find additional information regarding the company at the Securities and Exchange Commission’s Internet site at www.sec.gov or by directing requests to: Two Harbors Investment Corp., 601 Carlson Parkway, Suite 1400, Minnetonka, MN 55305, telephone 612-629-2500.

Investors:
Two Harbors Investment Corp.
July Hugen, 612-629-2514
Investor Relations
july.hugen@twoharborsinvestment.com

KEYWORDS: …read more
Source: FULL ARTICLE at DailyFinance

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The ADT Corporation Initiates Exchange Offer

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The ADT Corporation Initiates Exchange Offer

BOCA RATON, Fla.–(BUSINESS WIRE)– The ADT Corporation (NYS: ET today its offer to exchange certain of its outstanding unregistered notes for new registered notes in accordance with the terms of its registration rights agreement with existing holders of those notes.

Under the exchange offer, ADT is offering to exchange (the “Exchange Offer“) up to $2,500,000,000 aggregate principal amount of its outstanding (i) $750,000,000 2.250% Notes due 2017, (ii) $1,000,000,000 3.500% Notes due 2022 and (iii) $750,000,000 4.875% Notes due 2042 (collectively, the “Exchange Notes“) for a like principal amount of its new (i) $750,000,000 2.250% Notes due 2017, (ii) $1,000,000,000 3.500% Notes due 2022 and (iii) $750,000,000 4.875% Notes due 2042.

The Exchange Offer will expire at 5 pm ET on April 29, 2013, unless extended (such date and time, as they may be extended, the “Expiration Date“). The settlement date for the Exchange Offer will occur promptly following the Expiration Date. The Exchange Offer is made only pursuant to ADT‘s prospectus dated April 1, 2013, which has been filed with the Securities and Exchange Commission. ADT has not authorized any person to provide information other than as set forth in the prospectus.

Additional Information

Copies of the prospectus and transmittal materials governing the Exchange Offer can be obtained from the exchange agent, Wells Fargo Bank, N.A., by faxing a request to (612) 667-6282 (for Eligible Institutions only); by writing via registered and certified mail to Wells Fargo Bank, N.A. Corporate Trust Operations, MAC N9303-121, P.O. Box 1517, Minneapolis, MN 55480; by writing via regular mail or courier to Wells Fargo Bank, N.A. Corporate Trust Operations, MAC N9303-121, 6th St. & Marquette Avenue, Minneapolis, MN 55479; or by writing in person by hand only to Wells Fargo Bank, N.A. Corporate Trust Services, Northstar East Building – 12th Floor, 608 Second Avenue South, Minneapolis, MN 55402.

This press release is for informational purposes only and is neither an offer to exchange, nor a solicitation of an offer to sell, the Exchange Notes. The Exchange Offer is made solely pursuant to the prospectus dated April 1, 2013, including any supplements thereto. The Exchange Offer is not being made to holders in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.

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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

PPG Completes Acquisition of AkzoNobel North American Architectural Coatings Business

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PPG Completes Acquisition of AkzoNobel North American Architectural Coatings Business

PITTSBURGH–(BUSINESS WIRE)– PPG Industries (NYS: PPG) today announced that it has finalized the acquisition of the North American architectural coatings business of Akzo Nobel N.V., Amsterdam, in a deal valued at $1.05 billion.

“We are pleased to have successfully completed this acquisition, the second-largest in our company’s history, as it further extends PPG‘s architectural coatings business in the United States, Canada and the Caribbean, and continues the accelerated pace of our business portfolio transformation,” said Charles E. Bunch, PPG chairman and CEO. “With this acquisition, PPG has expanded its reach in all three major North American distribution channels, including home centers, independent paint dealers and company-owned paint stores. The company’s product offerings are now available in more than 15,000 outlets across the region.

“Our already strong portfolio of North American brands, including PPG Paints, PPG Pittsburgh Paints, PPG Porter Paints, Lucite and Olympic Paints and Stains, has been significantly strengthened with the addition of well-known brands such as Glidden, Flood, CIL, Sico and Liquid Nails,” Bunch said. PPG also will license the following brands: Dulux, Devoe architectural coatings, and Sikkens architectural wood products.

“As we welcome new colleagues, our focus will be to effectively and efficiently integrate these businesses and to exceed the expectations of our customers while capturing the full earnings power of the combined organization,” Bunch said.

PPG: BRINGING INNOVATION TO THE SURFACE.(TM)

PPG Industries’ vision is to continue to be the world’s leading coatings and specialty products company. Through leadership in innovation, sustainability and color, PPG helps customers in industrial, transportation, consumer products, and construction markets and aftermarkets to enhance more surfaces in more ways than does any other company. Founded in 1883, PPG has global headquarters in Pittsburgh and operates in nearly 70 countries around the world. Sales in 2012 were $15.2 billion. PPG shares are traded on the New York Stock Exchange (symbol:PPG). For more information, visit www.ppg.com.

Additional Information for Journalists

Members of the media are invited to visit a special website for additional information and images related to today’s announcement at http://ppg.online-pressroom.com.

Forward-Looking Statements

This news release contains certain statements about …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Canterbury Park Holding Corporation Reports 2012 Financial Results

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Canterbury Park Holding Corporation Reports 2012 Financial Results

SHAKOPEE, Minn.–(BUSINESS WIRE)– Canterbury Park Holding Corporation (NAS: CPHC) today announced financial results for its fourth quarter and year ended December 31, 2012.


Results for the Quarter Ended December 31, 2012

The Company’s net revenues in the fourth quarter were $10.1 million, up 4.2% from revenues of $9.7 million during the same period in 2011. Fourth quarter net income was $448,362, or $.11 per share, in 2012 as compared to fourth quarter net income of $305,036, or $.07 per share in 2011.


Results for the Year Ended December 31, 2012

The Company’s net revenues in 2012 were $45.5 million compared to 2011 net revenues of $40.6 million. The Company achieved this 12.0% revenue increase from increases in our three operating segments: Card Casino revenues increased 11.2%, pari-mutuel revenues increased 6.9%, and concession revenues increased 19.0% when compared to 2011. Although these increases were primarily attributable to the state government imposed shutdown of the Company’s operations for 20 days in July of 2011, our improved revenues reflect two additional factors: first, our ability to capitalize on law changes in May 2012 that enabled us to grow our Card Casino business; and second, our highly successful 2012 live meet that stemmed from purse supplements from the Cooperative Marketing Agreement that was signed with the Shakopee Mdewakanton Sioux Community in June 2012.

Operating expenses in 2012 were $43.5 million compared to $39.5 million in 2011. This $4.0 million increase in operating expenses was also primarily attributable to the shutdown of the Company’s operations for 20 days in 2011. However, this 10.0% increase is also attributable to greater expenses incurred in 2012 to support our 12.0% increase in net revenue.

As a result, the Company’s 2012 net income was $1,016,364, and $.24 per diluted share, compared to net income of $397,667 in 2011 and $.10 per diluted share.


Additional Information
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Source: FULL ARTICLE at DailyFinance