Tag Archives: Common Stock

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Huntington Bancshares Incorporated Reports Net Income of $151.8 Million, or $0.17 Per Common Share,

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Huntington Bancshares Incorporated Reports Net Income of $151.8 Million, or $0.17 Per Common Share, for the 2013 First Quarter, Down 1% from the Year-Ago Quarter and Down 9% from the Prior Quarter

Declares 25% Increase in Quarterly Cash Dividend on Common Stock to $0.05 Per Share

Specific highlights compared with 2012 First Quarter:

  • $0.58, or 11%, increase in tangible book value per common share to $5.91
  • 1.10% return on average assets, down from 1.13%
  • $682.3 million of fully-taxable equivalent revenue, a 3% decrease
  • $8.9 million, or 2%, increase in fully-taxable equivalent net interest income, reflecting:
    • 3.42% fully-taxable equivalent net interest margin, up 2 basis points
    • 4% growth in average total loans
    • 5% growth in average core deposits
  • $33.1 million, or 12%, decrease in noninterest income, reflecting a $24.2 million, or 90%, decrease in gain on sale of loans
  • $19.9 million, or 4%, decrease in noninterest expense
  • Delivered positive operating leverage and a modest improvement in efficiency ratio
  • NCOs declined 38% and were an annualized 0.51% of total loans
  • 19% decline in nonaccrual loans to 0.92% of total loans and leases, down from 1.15%

Specific highlights compared with 2012 Fourth Quarter:

  • $54.9 million, or 7%, decrease in fully-taxable equivalent revenue, reflecting:
    • $9.4 million, or 2%, decrease in fully-taxable equivalent net interest income primarily due to fewer days in the quarter
    • 3.42% fully-taxable equivalent net interest margin, down 3 basis points
    • 5% annualized growth in average total loans
    • $18.1 million decrease in gain on sale of loans
    • $16.5 million decrease in mortgage banking income
  • $27.8 million, or 6%, decrease in noninterest expense
  • 4.7 million shares repurchased at an average price of $7.07 per share

From: http://www.dailyfinance.com/2013/04/17/huntington-bancshares-incorporated-reports-net-inc/

Business, Finance, Occupation & Industry

Law Firm of Wohl & Fruchter Commences Investigation into Acquisition of MOD-PAC Corp. by Company's C

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Law Firm of Wohl & Fruchter Commences Investigation into Acquisition of MOD-PAC Corp. by Company’s Chairman and CEO

NEW YORK–(BUSINESS WIRE)– The law firm of Wohl & Fruchter LLP has commenced an investigation into whether the directors of MOD-PAC Corp. (NAS: MPAC) (MOD-PAC) breached their fiduciary duties to shareholders by approving an agreement to sell the Company to its Chairman and CEO.

On April 11, 2013, MOD-PAC announced that the Company’s board of directors had approved an agreement for Kevin T. Keane, Chairman of the Company, and Daniel G. Keane, President and Chief Executive Officer of the Company, and their affiliates and associates (Buyer Group) to acquire the Company for $8.40/share in cash.

The members of the Buyer Group are the beneficial owners of approximately 18.7% of the Company’s outstanding Common Stock and approximately 51.9% of the Company’s outstanding Class B Common Stock, which together represent approximately 41.0% of the voting power of the Company’s stock.

Wohl & Fruchter’s investigation concerns the fairness of the process used to approve the transaction, and whether approval of the transaction was improperly motivated by conflicts of interest.

Additional information is available at http://www.wohlfruchter.com/cases/mpac.

Persons with relevant information, and MPAC shareholders with questions about this investigation, are invited to contact our Firm by calling 866.582.8140, or contacting the attorney below.

About Wohl & Fruchter

Wohl & Fruchter LLP represents plaintiffs in litigation arising from fraud and other fiduciary breaches by corporate managers, as well as other complex litigation matters. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.

Contact:
J. Elazar Fruchter (jfruchter@wohlfruchter.com)
845.425.4658
Wohl & Fruchter LLP
570 Lexington Avenue
New York, NY 10022
www.wohlfruchter.com

This release may be deemed to constitute attorney advertising.

Wohl & Fruchter LLP
J. Elazar Fruchter (jfruchter@wohlfruchter.com)
845.425.4658

KEYWORDS:   United States  North America  New York

INDUSTRY KEYWORDS:

The article Law Firm of Wohl & Fruchter Commences Investigation into Acquisition of MOD-PAC Corp. by Company’s Chairman and CEO originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The

From: http://www.dailyfinance.com/2013/04/11/law-firm-of-wohl-fruchter-commences-investigation-/

Business, Finance, Occupation & Industry

Infinity Announces Pricing of Secondary Offering of Common Stock

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Infinity Announces Pricing of Secondary Offering of Common Stock

CAMBRIDGE, Mass.–(BUSINESS WIRE)– Infinity Pharmaceuticals, Inc. (NAS: INFI) today announced the pricing of an underwritten public offering of its common stock by existing shareholders Beacon Company and Rosebay Medical Company L.P., including shares that were transferred to Beacon and Rosebay by Purdue Pharma L.P., an associated company of Beacon and Rosebay, at a public offering price of $40.00 per share. The aggregate size of the offering is 10,000,000 shares, with 5,000,000 shares of common stock offered by Beacon, and 5,000,000 shares of common stock offered by Rosebay. The selling shareholders have also granted the underwriters an option for 30 days to purchase from the selling shareholders up to an additional 1,416,565 shares to cover over-allotments, if any. Assuming closing of this offering and assuming that the over-allotment option is not exercised, Beacon, Rosebay and Purdue collectively own an aggregate of 2.96% of Infinity’s outstanding common stock. The offering is expected to close on or about April 16, 2013, subject to the satisfaction of customary closing conditions. Infinity will not sell any shares or receive any proceeds from the offering, and the total number of shares of its outstanding common stock will not change as a result of the offering.

The joint book-running managers for the proposed offering are Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC.

A shelf registration statement (including a prospectus and preliminary prospectus supplement) relating to the offering of the shares of common stock has previously been filed with the Securities and Exchange Commission and has become effective. Before investing, you should read the prospectus, the preliminary prospectus supplement, the final prospectus supplement, when filed, and other documents filed by the Company with the Securities and Exchange Commission for information about the Company and the offering. Copies of the prospectus and related preliminary prospectus supplement and final prospectus supplement, when filed, relating to this offering may be obtained free of charge by visiting the Securities and Exchange Commission‘s website at www.sec.gov, or by contacting:

From: http://www.dailyfinance.com/2013/04/11/infinity-announces-pricing-of-secondary-offering-o/

 
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Cancer Genetics, Inc. Announces Closing of Initial Public Offering of 690,000 Shares of Common Stock

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Cancer Genetics, Inc. Announces Closing of Initial Public Offering of 690,000 Shares of Common Stock

RUTHERFORD, N.J.–(BUSINESS WIRE)– Cancer Genetics, Inc. (OTCQB: CGIX), a diagnostics company focused on developing genomic-based, oncology tests and services, today announced it has closed its initial public offering of 690,000 shares of common stock (including 90,000 shares that were offered and sold by Cancer Genetics pursuant to the exercise in-full of the underwriters’ over-allotment option) at a price to the public of $10.00 per share. Total gross proceeds from the offering were $6,900,000, before deducting underwriting discounts and commissions and other offering expenses payable by Cancer Genetics.

Aegis Capital Corp. acted as sole book-running manager for the offering.

Feltl and Company, Inc. acted as co-manager for the offering.

This offering was made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained by contacting Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY 10019, telephone: 212-813-1010, e-mail: prospectus@aegiscap.com.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on April 4, 2013. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Cancer Genetics:

Cancer Genetics, Inc. is an early-stage diagnostics company focused on developing and commercializing proprietary genomic tests and services to improve and personalize the diagnosis, prognosis and response to treatment (theranosis) of cancer. The proprietary tests being developed by Cancer Genetics target cancers that are difficult to prognose and predict treatment outcomes using currently available mainstream techniques. These cancers include hematological, urogenital and HPV-associated cancers. Cancer Genetics recently has begun to provide its proprietary tests and services along with a comprehensive range of non-proprietary oncology-focused tests and laboratory services that it has provided historically to oncologists and pathologists at hospitals, cancer centers and physician offices. Cancer Genetics is currently offering its tests and laboratory services in its 17,936 square foot laboratory located in Rutherford, New Jersey, which has been accredited under the Clinical Laboratory Improvement Amendments of 1988 to perform high complexity testing.

Source: FULL ARTICLE at DailyFinance

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Infinity Announces Proposed Secondary Offering of Common Stock

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Infinity Announces Proposed Secondary Offering of Common Stock

CAMBRIDGE, Mass.–(BUSINESS WIRE)– Infinity Pharmaceuticals, Inc. (NAS: INFI) today announced an underwritten public offering of its common stock by existing stockholders Beacon Company and Rosebay Medical Company L.P., including shares that will be transferred to Beacon and Rosebay by Purdue Pharma L.P., an associated company of Beacon and Rosebay. The aggregate size of the offering is 8,500,000 shares, with 4,250,000 shares of common stock offered by Beacon, and 4,250,000 shares of common stock offered by Rosebay. Infinity will not sell any shares or receive any proceeds from the offering, and the total number of shares of its outstanding common stock will not change as a result of the offering.

The joint book-running managers for the proposed offering are Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC. The selling shareholders have also granted the underwriters of the offering an option for 30 days to purchase from the selling shareholders up to an additional 15 percent of the amount sold to cover over-allotments, if any. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

A shelf registration statement (including a prospectus and preliminary prospectus supplement) relating to the offering of the shares of common stock has previously been filed with the Securities and Exchange Commission and has become effective. Before investing, you should read the prospectus, the preliminary prospectus supplement and other documents filed by the Company with the Securities and Exchange Commission for information about the Company and the offering. Copies of the prospectus and related preliminary prospectus supplement relating to this offering may be obtained free of charge by visiting the Securities and Exchange Commission‘s website at www.sec.gov, or by contacting:

…read more

Source: FULL ARTICLE at DailyFinance

Morgan Stanley & Co. LLC     J.P. Morgan Securities LLC
Business, Finance, Occupation & Industry

BSD Medical Announces Registered Direct Offering of Common Stock and Warrants in Aggregate Amount of

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BSD Medical Announces Registered Direct Offering of Common Stock and Warrants in Aggregate Amount of $5 Million

SALT LAKE CITY–(BUSINESS WIRE)– BSD Medical Corporation (NAS: BSDM) today announced that it entered into a securities purchase agreement with two institutional investors for the sale of 4,065,042 shares of its common stock in a registered direct offering at $1.23 per share. In addition, warrants to purchase 3,048,782 shares of common stock in the aggregate will be issued to the investors. The warrants are exercisable beginning six months and one day after closing, expire 5 years after becoming exercisable, and have an exercise price of $1.65 per share. Gross proceeds of the offering, before deducting placement agent fees and other estimated offering expenses payable by BSD Medical Corporation, are expected to be approximately $5 million. These securities are being offered through a prospectus supplement pursuant to the Company’s effective shelf registration statement and base prospectus contained therein.

The net proceeds from this offering will be used for general working capital purposes. In the securities purchase agreement we have entered into with the purchasers in this offering, we have agreed not to use the proceeds of this offering to satisfy any existing debt (other than ordinary course trade payables), to redeem any of our outstanding securities (other than the warrants issued pursuant to the securities purchase agreement), or to settle any outstanding litigation.

The completion of the offering will occur on or before April 12, 2013. Roth Capital Partners served as the placement agent for the offering.

Copies of the final prospectus supplement and accompanying base prospectus can be obtained from Roth Capital Partners at 888 San Clemente Drive, Newport Beach, CA 92660, attention: Equity Capital Markets or 800-678-9147 or rothecm@roth.com.

A shelf registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. A prospectus supplement related to the offering will be filed with the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy, and these securities cannot be sold in any state in which this offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Any offer will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.

About BSD Medical Corporation

…read more

Source: FULL ARTICLE at DailyFinance

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Cousins Properties Prices Offering of 14,354,000 Shares of Common Stock

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Cousins Properties Prices Offering of 14,354,000 Shares of Common Stock

ATLANTA–(BUSINESS WIRE)– Cousins Properties Incorporated (the “Company”) (NYS: CUZ) today announced that it has increased its previously-announced underwritten public offering from 14,000,000 to 14,354,000 shares of its common stock and priced the offering at $10.45 per share, for gross proceeds of approximately $150 million. The underwriters have been granted a 30-day option to purchase up to an additional 2,153,100 shares. The offering is expected to close on or about April 12, 2013, subject to customary closing conditions.

The Company intends to use a significant portion of the net proceeds of the offering to acquire 816 Congress Avenue, a Class-A office building in Austin, Texas. The property is currently under contract, and the acquisition is expected to close mid-April 2013. In addition, the Company intends to use a portion of the net proceeds to redeem in full its outstanding 7.75% Series A Cumulative Redeemable Preferred Stock.

BofA Merrill Lynch, J.P. Morgan, Morgan Stanley and Wells Fargo Securities acted as joint book-running managers for the offering.

This offering will be made pursuant to a prospectus supplement to the Company’s prospectus dated March 29, 2013, filed as part of the Company’s effective shelf registration statement relating to these securities. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the shares described herein or any other securities, nor shall there be any sale of these shares in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction. This offering may be made only by means of a prospectus supplement and the related prospectus.

Copies of the final prospectus supplement (when available) and the base prospectus relating to the shares can be obtained by contacting the underwriters as follows: BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department or email at dq.prospectus_requests@baml.com; or J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling 1-866-803-9204.

About Cousins Properties Incorporated

The Company is a leading diversified real estate company with extensive experience in development, acquisition, financing, management and leasing. Based in Atlanta, the Company actively invests in office and retail projects. The Company is a fully integrated equity real estate investment trust …read more

Source: FULL ARTICLE at DailyFinance

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Integrity Applications Common Stock is Publicly Quoted on the OTC Bulletin Board under the Symbol "I

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Integrity Applications Common Stock is Publicly Quoted on the OTC Bulletin Board under the Symbol “IGAP”


Raises approximately $6.3 million to advance the development and commercialization of GlucoTrack
 ® for the non-invasive measurement of blood glucose

ASHKELON, Israel–(BUSINESS WIRE)– Integrity Applications, Inc. (OTCQB:IGAP), developer of the GlucoTrack DF-F non-invasive blood glucose measurement device, announced that its common stock is now publicly quoted on the OTC Bulletin Board under the symbol IGAP. Investors will be able to view the Real Time Level II stock quotes for IGAP at www.otcmarkets.com/stock/igap/quote.

“The commencement of trading in our common stock marks an important milestone for Integrity Applications, and we are pleased that our company has progressed to this stage,” said Avner Gal, Chief Executive Officer. “If approved for sale, our GlucoTrack DF-F product candidate will allow diabetics to painlessly measure their blood glucose levels without taking blood or utilizing test strips. We know that taking frequent blood glucose measurements improves patient care by facilitating glycemic control, and we believe that non-invasive testing will encourage more frequent measurements by diabetics.”

He added, “We filed a formal application seeking CE Mark approval for the GlucoTrack DF-F in Q1/13 and, although there can be no guarantee that we will receive CE Mark approval, we expect to receive CE Mark approval for the GlucoTrack DF-F during the second quarter of 2013. In addition, this year we intend to develop our regulatory strategy to support development of the GlucoTrack DF-F in the United States.”

Integrity Applications also announced that in March 2013, it raised gross proceeds of approximately $6.3 million in an offering of 6,300 Units, each of which consisted of (a) one share of the Company’s newly designated Series A 5% Convertible Preferred Stock with a conversion price of $5.80 per share, and (b) a warrant to purchase, at an exercise price of $6.96, up to 100% of the shares of Common Stock issuable upon conversion of such share of preferred stock. The shares of preferred stock are presently convertible into an aggregate of 1,086,206 shares of common stock and the warrants are presently exercisable for an aggregate of 1,086,206 shares of common stock.

Andrew Garrett, Inc. acted as the exclusive placement agent for this financing.

About GlucoTrack DF-F and Diabetes

…read more

Source: FULL ARTICLE at DailyFinance

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Conversion Right Triggered for LabCorp's Zero Coupon Convertible Subordinated Notes Due 2021

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Conversion Right Triggered for LabCorp’s Zero Coupon Convertible Subordinated Notes Due 2021

BURLINGTON, N.C.–(BUSINESS WIRE)– Laboratory Corporation of America® Holdings (LabCorp®) (NYS: LH) announced today that its Zero Coupon Convertible Subordinated Notes due 2021 (Zero Coupon Notes) may be converted as set forth below.

The Zero Coupon Notes are convertible into cash and Common Stock of LabCorp, if any, subject to the terms of the Zero Coupon Notes and the Indenture, dated as of October 24, 2006 between LabCorp and The Bank of New York Mellon, as trustee (Trustee) and the conversion agent.

In order to exercise the option to convert all or a portion of the Zero Coupon Notes, holders must validly surrender their Zero Coupon Notes at any time during the calendar quarter through the close of business at 5:00 p.m., New York City time, on Friday, June 28, 2013. The Trustee has informed LabCorp that, as of this date, all custodians and beneficial holders of the Zero Coupon Notes hold the Zero Coupon Notes through Depository Trust Company (DTC) accounts and that there are no certificated Zero Coupon Notes in non-global form. Accordingly, all Zero Coupon Notes surrendered for conversion must be delivered through the transmittal procedures of DTC.

Should Zero Coupon Notes be converted, LabCorp would be required to pay holders in cash for the accreted principal amount of the securities to be converted, with the remaining amount, if any, to be satisfied with shares of Common Stock. The shares required for settlement of the Zero Coupon Notes are included in LabCorp’s computation of fully diluted earnings per share.


About LabCorp
 ®

Laboratory Corporation of America® Holdings, an S&P 500 company, is a pioneer in commercializing new diagnostic technologies and the first in its industry to embrace genomic testing. With annual revenues of $5.7 billion in 2012, over 34,000 employees worldwide, and more than 220,000 clients, LabCorp offers more than 4,000 tests ranging from routine blood analyses to reproductive genetics to companion diagnostics. LabCorp furthers its scientific expertise and innovative clinical testing technology through its Specialty Testing Group: The Center for Molecular Biology and Pathology, National Genetics Institute, ViroMed Laboratories, Inc, The Center for Esoteric Testing, Litholink Corporation, Integrated Genetics, Integrated Oncology, DIANON Systems, Inc, Monogram Biosciences, Inc, Colorado Coagulation, Cellmark Forensics, MedTox, and Endocrine Sciences. LabCorp conducts clinical trials testing through its LabCorp …read more

Source: FULL ARTICLE at DailyFinance

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Cousins Properties Announces Offering of 14.0 Million Shares of Common Stock

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Cousins Properties Announces Offering of 14.0 Million Shares of Common Stock

ATLANTA–(BUSINESS WIRE)– Cousins Properties Incorporated (the “Company”) (NYS: CUZ) today announced that it has commenced an underwritten public offering of 14.0 million shares of its common stock. The underwriters are expected to be granted a 30-day option to purchase up to an additional 2.1 million shares.

The Company intends to use a significant portion of the net proceeds of the offering to acquire 816 Congress Avenue, a Class-A office building in Austin, Texas. The property is currently under contract, and the acquisition is expected to close mid-April 2013. In addition, the Company intends to use a portion of the net proceeds to redeem in full its outstanding 7.75% Series A Cumulative Redeemable Preferred Stock.

BofA Merrill Lynch, J.P. Morgan, Morgan Stanley and Wells Fargo Securities are acting as joint book-running managers for the offering.

This offering will be made pursuant to a prospectus supplement to the Company’s prospectus dated March 29, 2013, filed as part of the Company’s effective shelf registration statement relating to these securities. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the shares described herein or any other securities, nor shall there be any sale of these shares in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction. The offering may be made only by means of a prospectus supplement and the related prospectus.

A copy of the preliminary prospectus supplement, final prospectus supplement (when available) and the base prospectus relating to the shares can be obtained by contacting the underwriters as follows: BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department or email at dq.prospectus_requests@baml.com; or J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling 1-866-803-9204.

About Cousins Properties Incorporated

The Company is a leading diversified real estate company with extensive experience in development, acquisition, financing, management and leasing. Based in Atlanta, the Company actively invests in office and retail projects. The Company is a fully integrated equity real estate investment trust (REIT) and trades on the New York Stock Exchange under the symbol CUZ.

…read more

Source: FULL ARTICLE at DailyFinance

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Cancer Genetics, Inc. Announces Pricing of Initial Public Offering of 600,000 Shares of Common Stock

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Cancer Genetics, Inc. Announces Pricing of Initial Public Offering of 600,000 Shares of Common Stock

RUTHERFORD, N.J.–(BUSINESS WIRE)– Cancer Genetics, Inc., a diagnostics company focused on developing genomic-based, oncology tests and services, today announced the pricing of its initial public offering of 600,000 shares of its common stock at a price to the public of $10.00 per share. The gross proceeds to Cancer Genetics from the initial public offering are expected to be $6,000,000 (assuming no exercise of the over-allotment option), before underwriting discounts and commissions and other offering expenses payable by Cancer Genetics. Cancer Genetics has granted the representative of the underwriters a 45-day option to purchase up to 90,000 additional shares of common stock from Cancer Genetics to cover over-allotments, if any. Shares of Cancer Genetics‘ common stock are expected to be quoted on the OTCQB Marketplace, operated by OTC Markets Group, under the symbol “CGIX” beginning on April 5, 2013. Investors will be able to find Real Time Level II quotes for “CGIX” on www.otcmarkets.com.

The offering is expected to close on April 10, 2013, subject to customary closing conditions.

Aegis Capital Corp. is acting as sole book-running manager for the offering.

Feltl and Company, Inc. is acting as co-manager for the offering.

This offering is being made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained by contacting Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY 10019, telephone: 212-813-1010, e-mail: prospectus@aegiscap.com.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on April 4, 2013. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Cancer Genetics:

Cancer Genetics, Inc. is an early-stage diagnostics company focused on developing and commercializing proprietary genomic tests and services to improve and personalize the diagnosis, prognosis and response to treatment (theranosis) of cancer. The proprietary tests being developed by Cancer Genetics target cancers that are difficult to prognose and predict treatment outcomes by using currently available mainstream techniques. These cancers include hematological, urogenital and HPV-associated cancers. Cancer Genetics recently …read more

Source: FULL ARTICLE at DailyFinance

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TranSwitch Corporation Announces Closing of Common Stock and Warrant Offering and Over-Allotment Opt

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TranSwitch Corporation Announces Closing of Common Stock and Warrant Offering and Over-Allotment Option

SHELTON, Conn.–(BUSINESS WIRE)– TranSwitch Corporation (NAS: TXCC) today announced the completion of its previously announced public offering of 8,300,000 units, consisting of one share of common stock and a warrant to purchase 0.50 of a share of common stock, including 1,245,000 units pursuant to the exercise in full of the over-allotment option granted to the underwriter. After the underwriting discount and estimated offering expenses payable by the company, the company received net proceeds of approximately $3.7 million. Maxim Group LLC acted as sole manager for the offering.

TranSwitch intends to use the net proceeds from the offering for product development, general corporate purposes and working capital. The units described above are being offered by TranSwitch Corporation pursuant to a registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission. A prospectus supplement relating to the offering was filed with the SEC on March 28, 2013 and is available on the SEC‘s website at http://www.sec.gov.

In addition, on March 27, 2013, the company delivered a notice to Aspire Capital Fund, LLC (“Aspire”) terminating the Common Stock Purchase Agreement between the company and Aspire (the “Common Stock Purchase Agreement”). During the first quarter of 2013, the company received proceeds of approximately $1 million from sales of 1,250,000 shares of its common stock to Aspire, pursuant to the Common Stock Purchase Agreement. Year-to-date the company has raised a total of approximately $4.7 million through sales of its common stock.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained from Maxim Group LLC 405 Lexington Avenue, New York, NY 10174, (800) 724-0761.

About TranSwitch Corporation

TranSwitch Corporation (TXCC) provides innovative integrated circuit (IC) and intellectual property (IP) solutions that deliver core functionality for video, voice, and data communications equipment for the customer premises and network infrastructure markets. For the customer-premises market, we offer multi-standard, high-speed interconnect solutions enabling the distribution and presentation of high-definition (HD) video …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Resource Real Estate Opportunity REIT Declares Cash Distributions

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Resource Real Estate Opportunity REIT Declares Cash Distributions

PHILADELPHIA–(BUSINESS WIRE)– On March 22, 2013, the board of directors of Resource Real Estate Opportunity REIT (the “Company”) authorized three separate cash distributions each in the amount of $0.025 per share of common stock, $0.01 par value per share (“Common Stock“), to stockholders of record as of the close of business on April 30, 2013, May 31, 2013 and June 28, 2013. The Company expects to pay these distributions on May 1, 2013, June 3, 2013 and July 1, 2013, respectively. All distributions will be paid in cash or, for investors enrolled in our distribution reinvestment plan, reinvested in additional shares of Common Stock.

About Resource Real Estate

Resource Real Estate is a national real estate firm specializing in direct investments, commercial real estate lending and global real estate securities. Resource Real Estate has a long history of investing in, managing and resolving complex real estate investments.

Since 1991, Resource Real Estate and its affiliates have acquired, managed and harvested real estate assets for institutional and individual investors, joint venture partnerships as well as its own account. Resource Real Estate owns and manages a real estate portfolio with an aggregate value of approximately $1.7 billion, which includes over 24,000 apartment units. Headquartered in Philadelphia, Resource Real Estate has approximately 600 industry professionals with additional offices located in New York City, Los Angeles, Denver and Omaha.

Resource Real Estate is a wholly owned subsidiary of Resource America, Inc. (NAS: REXI) , a specialized asset manager. As of December 31, 2012, Resource America managed over $15 billion across various asset classes.

Media Contact:
Gregory FCA for Resource Real Estate
Jimmy Moock, 610-228-2125
jimmy@gregoryfca.com
or
Company Contact:
Marianne McGuire, 267-256-5964
Director of Marketing at Resource Real Estate
mmcguire@resourcerei.com

KEYWORDS:   United States  North America  Pennsylvania

INDUSTRY KEYWORDS:

The article Resource Real Estate Opportunity REIT Declares Cash Distributions originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool …read more
Source: FULL ARTICLE at DailyFinance

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Sovran Self Storage, Inc. Announces Dividend on Common Stock and New Dividend Reinvestment Plan

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By Business Wirevia The Motley Fool

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Sovran Self Storage, Inc. Announces Dividend on Common Stock and New Dividend Reinvestment Plan

BUFFALO, N.Y.–(BUSINESS WIRE)– The Board of Directors of Sovran Self Storage, Inc. (NYS: SSS) , a self storage real estate investment trust (REIT), announced today the Company’s quarterly dividend of $0.48 per share of common stock. The annualized dividend of Sovran Self Storage, Inc. is $1.92 per share which, based on yesterday’s closing share price, equates to an annual rate of approximately 3.0%. The dividend will be paid on April 26, 2013 to Shareholders of record on April 12, 2013.

The Company also announced that its Board of Directors approved a new dividend reinvestment plan through its transfer agent, American Stock Transfer and Trust Company LLC. “We are pleased to be able to offer our shareholders a convenient way to build on their investment in Sovran Self Storage,” said Andy Gregoire, Chief Financial Officer.

The plan will be mailed to all registered shareholders with enrollment information. Registered shareholders who are interested in participating will need to return the enrollment form to the transfer agent or enroll electronically at www.amstock.com. Beneficial owners of shares of the Company’s common stock registered in the name of a broker, bank, or other nominee, should contact the broker, bank or nominee and request that shares are enrolled on their behalf.


About Sovran Self Storage, Inc.

Sovran Self Storage, Inc. is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self storage facilities. The Company operates more than 460 self storage facilities in 25 states under the name “Uncle Bob’s Self Storage”®. For more information visit www.unclebobs.com, like us on Facebook, or follow us on Twitter.

Sovran Self Storage, Inc.
Diane Piegza, 716-650-6115
Vice President Corporate Communications

KEYWORDS:   United States  North America  New York

INDUSTRY KEYWORDS:

The article Sovran Self Storage, Inc. Announces Dividend on Common Stock and New Dividend Reinvestment Plan originally …read more
Source: FULL ARTICLE at DailyFinance

Computers

Dell's SEC report describes challenges for PC makers

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Dell described a bleak outlook for the PC industry on Good Friday in a document filed with the U.S. Securities and Exchange Commission.

The document, one of several filed by the company in connection with its move to go private, includes a laundry list of ills that pretty much defines life for computer makers in the post PC era.

That list identifies factors contributing not only to Dell’s present and future performance, but paints a picture of the uncertain world ahead for all PC makers.

Dell’s pitch

In its filing, Dell makes it sound like it would do present stockholders a favor by buying out their stock and taking the company off the stock market. By scooping up all Dell common shares in the market, it noted, stockholders will “no longer be exposed to the various risks and uncertainties related to continued ownership of Common Stock.”

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Source: FULL ARTICLE at PCWorld

Business, Finance, Occupation & Industry

SJW Corp. Announces Pricing of Public Offering of Common Stock

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SJW Corp. Announces Pricing of Public Offering of Common Stock

SAN JOSE, Calif.–(BUSINESS WIRE)– SJW Corp. (NYS: SJW) today announced that it has priced a firm commitment underwritten public offering of 1,321,000 shares of common stock at a public offering price of $26.50 per share for an aggregate gross proceeds of approximately $35 million. The offering is expected to close on or about April 3, 2013, subject to customary closing conditions. The Company has also granted the underwriters a 30-day option to purchase up to 198,150 shares of common stock to cover over-allotments, if any.

Robert W. Baird & Co. Incorporated is serving as sole book-runner for the offering. Janney Montgomery Scott, Brean Capital and Blaylock Robert Van, LLC are serving as co-managers for the offering.

The Company intends to use the net proceeds from this offering to repay its short-term borrowings, fund the construction programs of its water utility services and for other general corporate purposes.

The securities described above are being offered by the Company pursuant to a “shelf” registration statement (including a prospectus) previously filed with and declared effective by the Securities and Exchange Commission (SEC) on December 21, 2012. This offering is being made only by means of a prospectus supplement and accompanying base prospectus. A preliminary prospectus supplement relating to the offering has been filed with the SEC and is available on the SEC‘s website located at www.sec.gov. When available, copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained by sending a request to Robert W. Baird & Co. Incorporated, 777 East Wisconsin Avenue, Galleria Level, Milwaukee, Wisconsin 53202-5391, or by calling 1-800-792-2413 or email: syndicate@rwbaird.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

This press release may contain certain forward-looking statements including but not limited to statements relating to SJW Corp.’s public offering and expected use of proceeds and closing of the offering, which are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

TranSwitch Corporation Prices Underwritten Public Offering of Common Stock and Warrants

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By Business Wirevia The Motley Fool

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TranSwitch Corporation Prices Underwritten Public Offering of Common Stock and Warrants

SHELTON, Conn.–(BUSINESS WIRE)– TranSwitch Corporation (NAS: TXCC) today announced the pricing of an underwritten public offering of 7,055,000 units at a price to the public of $0.50 per share. Each unit consists of one share of common stock and a warrant to purchase 0.50 of a share of common stock. The warrants have an exercise price of $0.58 per share. The company also granted the underwriter a 45-day option to acquire an additional 1,245,000 units to cover overallotments in connection with the offering, which has been exercised in full. After the underwriting discount and estimated offering expenses payable by the company, the company expects to receive net proceeds of approximately $3.7 million (which includes the exercise of the overallotment option). The offering is expected to close on April 3, 2013, subject to customary closing conditions. Maxim Group LLC is acting as the sole manager for the offering.

TranSwitch intends to use the net proceeds from the offering for product development, general corporate purposes and working capital. The units described above are being offered by TranSwitch Corporation pursuant to a registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission. A prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC‘s website at http://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Copies of the prospectus supplement and accompanying base prospectus relating to this offering may be obtained from Maxim Group LLC 405 Lexington Avenue, New York, NY 10174, (800) 724-0761.

About TranSwitch Corporation

TranSwitch Corporation (TXCC) provides innovative integrated circuit (IC) and intellectual property (IP) solutions that deliver core functionality for video, voice, and data communications equipment for the customer premises and network infrastructure markets. For the customer-premises market, we offer multi-standard, high-speed interconnect solutions enabling the distribution and presentation of high-definition (HD) video and data content for consumer electronics applications. We also provide a family of best-in-class communications processors. For the network infrastructure market, we provide integrated multi-core network processor System-on-a-Chip (SoC) solutions for …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

RAIT Financial Trust Prices and Upsizes Public Offering of Common Stock

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By Business Wirevia The Motley Fool

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RAIT Financial Trust Prices and Upsizes Public Offering of Common Stock

PHILADELPHIA–(BUSINESS WIRE)– RAIT Financial Trust (NYS: RAS) (the “Company”) announced today the pricing and upsizing of its underwritten public offering of 8,000,000 common shares at a public offering price of $7.87 per share. The offering was increased by 1,000,000 shares from the originally announced offering of 7,000,000 shares. The Company has granted the underwriters a 30-day option to purchase up to 1,200,000 additional common shares. The offering is expected to close on April 3, 2013.

Deutsche Bank Securities and Barclays are acting as the joint book-running managers of the offering.

The Company intends to use the net proceeds of the offering to make investments relating to its business and for general corporate purposes.

A registration statement relating to the offered securities has been declared effective by the Securities and Exchange Commission (“SEC”). The offering is being made only by means of a prospectus supplement and accompanying base prospectus. Copies of the prospectus supplement and the related prospectus for the offering, when available, may be obtained by contacting: Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, by calling (800) 503-4611, or by emailing prospectus.cpdg@db.com or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Telephone: (888) 603-5847, or by emailing barclaysprospectus@broadridge.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the shares, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

About RAIT Financial Trust

RAIT Financial Trust is an internally-managed real estate investment trust that provides debt financing options to owners of commercial real estate and invests directly into commercial real estate properties located throughout the United States. In addition, RAIT is an asset and property manager of real estate-related assets.

Safe-Harbor Statement

Certain items in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words like “expect,” “intend” and similar expressions. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties that …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

TranSwitch Corporation Announces Proposed Public Offering of Common Stock and Warrants

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By Business Wirevia The Motley Fool

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TranSwitch Corporation Announces Proposed Public Offering of Common Stock and Warrants

SHELTON, Conn.–(BUSINESS WIRE)– TranSwitch Corporation (NAS: TXCC) today announced that it is offering to sell shares of its common stock and warrants to purchase common stock in an underwritten public offering. Maxim Group LLC is acting as the sole manager for the offering. TranSwitch intends to use the net proceeds from the offering for product development, general corporate purposes and working capital.

The shares and warrants described above are being offered by TranSwitch pursuant to a registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission (“SEC“). A preliminary prospectus supplement relating to the offering has been filed with the SEC and is available on the SEC‘s website at http://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to this offering may be obtained from Maxim Group LLC 405 Lexington Avenue, New York, NY 10174, (800) 724-0761.

About TranSwitch Corporation

TranSwitch Corporation (TXCC) provides innovative integrated circuit (IC) and intellectual property (IP) solutions that deliver core functionality for video, voice, and data communications equipment for the customer premises and network infrastructure markets. For the customer-premises market, we offer multi-standard, high-speed interconnect solutions enabling the distribution and presentation of high-definition (HD) video and data content for consumer electronics applications. We also provide a family of best-in-class communications processors. For the network infrastructure market, we provide integrated multi-core network processor System-on-a-Chip (SoC) solutions for Fixed, 3G and 4G Mobile, VoIP and Multimedia applications. TranSwitch’s customers are leading consumer electronics and telecom equipment companies around the globe. To learn more, please visit www.transwitch.com.

TranSwitch Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the proposed public offering and the intended use of proceeds from the offering. The offering is subject to market and other conditions and there can …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

RAIT Financial Trust Announces Public Offering of Common Stock

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By Business Wirevia The Motley Fool

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RAIT Financial Trust Announces Public Offering of Common Stock

PHILADELPHIA–(BUSINESS WIRE)– RAIT Financial Trust (NYS: RAS) (the “Company”) announced today that it has commenced an underwritten public offering of 7,000,000 common shares. The Company expects to grant the underwriters a 30-day option to purchase up to 1,050,000 additional common shares.

Deutsche Bank Securities and Barclays are acting as the joint book-running managers of the offering.

The Company intends to use the net proceeds of the offering to make investments relating to its business and for general corporate purposes.

A registration statement relating to the offered securities has been declared effective by the Securities and Exchange Commission (“SEC”). The offering is being made only by means of a prospectus supplement and accompanying base prospectus. Copies of the preliminary prospectus supplement and the related prospectus for the proposed offering, when available, may be obtained by contacting: Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, by calling (800) 503-4611, or by emailing prospectus.cpdg@db.com or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Telephone: (888) 603-5847, or by emailing barclaysprospectus@broadridge.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the shares, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

About RAIT Financial Trust

RAIT Financial Trust is an internally-managed real estate investment trust that provides debt financing options to owners of commercial real estate and invests directly into commercial real estate properties located throughout the United States. In addition, RAIT is an asset and property manager of real estate-related assets.

Safe-Harbor Statement

Certain items in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words like “expect,” “intend” and similar expressions. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements; the Company can give no assurance that its expectations will be attained. Forward-looking statements are necessarily speculative in nature, and …read more
Source: FULL ARTICLE at DailyFinance