Tag Archives: EDGAR

Business, Finance, Occupation & Industry

Dynex Capital, Inc. Announces Pricing of Series B Cumulative Redeemable Preferred Stock Offering

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Dynex Capital, Inc. Announces Pricing of Series B Cumulative Redeemable Preferred Stock Offering

GLEN ALLEN, Va.–(BUSINESS WIRE)– Dynex Capital, Inc. (NYS: DX) (the “Company”) announced today that it has priced a public offering of two million shares of an original issuance of its 7.625% Series B Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share, for gross proceeds of $50 million. The Company has granted the underwriters a 30-day option to purchase up to an additional 300,000 shares of the Series B Preferred Stock to cover any overallotments. The offering is subject to customary closing conditions and is expected to close on or about April 19, 2013. The Company intends to apply to list the Series B Preferred Stock on the New York Stock Exchange.

The Company intends to use the net proceeds from this offering to acquire additional investments, consistent with its investment strategy, and for general corporate purposes, which may include, among other things, repayment of maturing obligations, capital expenditures and working capital.

J.P. Morgan Securities LLC and Keefe, Bruyette & Woods, Inc. are acting as the joint book running managers for the offering. Credit Suisse Securities (USA) LLC, Ladenburg Thalmann & Co. Inc., MLV & Co LLC, and Sterne, Agee & Leach, Inc. are acting as co-managers for the offering.

The offering is being made pursuant to the Company’s existing shelf registration statement that has been declared effective by the SEC. The offering of these securities may be made only by means of a prospectus and a related prospectus supplement that should be read prior to investing, a copy of which may be obtained by visiting EDGAR on the SEC website at http://www.sec.gov when available or contacting:

From: http://www.dailyfinance.com/2013/04/11/dynex-capital-inc-announces-pricing-of-series-b-cu/

     
Business, Finance, Occupation & Industry

Dynex Capital, Inc. Announces Public Offering of Series B Cumulative Redeemable Preferred Stock

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Dynex Capital, Inc. Announces Public Offering of Series B Cumulative Redeemable Preferred Stock

GLEN ALLEN, Va.–(BUSINESS WIRE)– Dynex Capital, Inc. (NYS: DX) (the “Company”) announced today that it intends to make a public offering of shares of an original issuance of Series B Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share (the “Series B Preferred Stock”). The Company intends to grant the underwriters a 30-day option to purchase additional shares of the Series B Preferred Stock to cover any overallotments. The Company also intends to apply to list the Series B Preferred Stock on the New York Stock Exchange.

The Company intends to use the net proceeds from this offering to acquire additional investments, consistent with its investment strategy, and for general corporate purposes, which may include, among other things, repayment of maturing obligations, capital expenditures and working capital.

J.P. Morgan Securities LLC and Keefe, Bruyette & Woods, Inc. are acting as the joint book running managers for the offering.

The offering is being made pursuant to the Company’s existing shelf registration statement that has been declared effective by the SEC. The offering of these securities may be made only by means of a prospectus and a related prospectus supplement that should be read prior to investing, a copy of which may be obtained by visiting EDGAR on the SEC website at http://www.sec.gov when available or contacting:

From: http://www.dailyfinance.com/2013/04/11/dynex-capital-inc-announces-public-offering-of-ser/

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

Energy Transfer Partners Announces Closing of Common Unit Offering

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Energy Transfer Partners Announces Closing of Common Unit Offering

DALLAS–(BUSINESS WIRE)– Energy Transfer Partners, L.P. (NYS: ETP) today announced that its previously announced public offering of 13,800,000 common units representing limited partner interests at $48.05 per common unit, which includes 1,800,000 common units purchased pursuant to the full exercise of the underwriter’s option to purchase additional common units, has closed. Net proceeds from the offering will be used by ETP to repay amounts outstanding under its revolving credit facility and for general partnership purposes.

Barclays Capital Inc. acted as the underwriter. A copy of the prospectus supplement and prospectus relating to the offering may be obtained by contacting Barclays c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, toll-free: (888) 603-5847, barclaysprospectus@broadridge.com.

You may also obtain these documents for free by visiting EDGAR on the Securities and Exchange Commission, or SEC, web site at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, 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 jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended. The offering has been made pursuant to an effective shelf registration statement and prospectus filed by ETP with the SEC.

Energy Transfer Partners, L.P. (NYS: ETP) is a master limited partnership owning and operating one of the largest and most diversified portfolios of energy assets in the United States. ETP currently has natural gas operations that include approximately 24,000 miles of gathering and transportation pipelines, treating and processing assets, and storage facilities. ETP also owns general partner interests, 100% of the incentive distribution rights, and a 32.4% limited partnership interest in Sunoco Logistics Partners L.P. (NYS: SXL) , which operates a geographically diverse portfolio of crude oil and refined products pipelines, terminalling and crude oil acquisition and marketing assets. ETP also holds a 70% interest in Lone Star NGL, a joint venture that owns and operates natural gas liquids storage, fractionation and transportation assets in Texas, Louisiana and Mississippi. In addition, ETP holds controlling interest in a corporation (ETP Holdco Corporation) that owns Southern Union Company and Sunoco, Inc.

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Energy Transfer Partners Announces Pricing of Common Unit Offering

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Energy Transfer Partners Announces Pricing of Common Unit Offering

DALLAS–(BUSINESS WIRE)– Energy Transfer Partners, L.P. (NYS: ETP) today announced it has priced a public offering of 12,000,000 common units representing limited partner interests at $48.05 per common unit. Net proceeds from the offering will be used by ETP to repay amounts outstanding under its revolving credit facility and for general partnership purposes. The offering is scheduled to close on April 10, 2013. ETP also granted the underwriter a 30-day option to purchase up to an aggregate of 1,800,000 additional common units.

Barclays Capital Inc. is acting as the underwriter. A copy of the prospectus supplement and prospectus relating to the offering may be obtained by contacting Barclays c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, toll-free: (888) 603-5847, barclaysprospectus@broadridge.com.

You may also obtain these documents for free when they are available by visiting EDGAR on the Securities and Exchange Commission, or SEC, web site at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, 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 jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended. The offering will be made pursuant to an effective shelf registration statement and prospectus filed by ETP with the SEC.

Energy Transfer Partners, L.P. (NYS: ETP) is a master limited partnership owning and operating one of the largest and most diversified portfolios of energy assets in the United States. ETP currently has natural gas operations that include approximately 24,000 miles of gathering and transportation pipelines, treating and processing assets, and storage facilities. ETP also owns general partner interests, 100% of the incentive distribution rights, and a 32.4% limited partnership interest in Sunoco Logistics Partners L.P. (NYS: SXL) , which operates a geographically diverse portfolio of crude oil and refined products pipelines, terminalling and crude oil acquisition and marketing assets. ETP also holds a 70% interest in Lone Star NGL, a joint venture that owns and operates natural gas liquids storage, fractionation and transportation assets in Texas, Louisiana and Mississippi. In addition, ETP holds controlling interest in a …read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Energy Transfer Partners Announces Common Unit Offering

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Energy Transfer Partners Announces Common Unit Offering

DALLAS–(BUSINESS WIRE)– Energy Transfer Partners, L.P. (NYS: ETP) today announced it has commenced a public offering of 12,000,000 common units representing limited partner interests, with a 30-day option for the underwriter to purchase up to an additional 1,800,000 common units. Net proceeds from the offering will be used by ETP to repay amounts outstanding under its revolving credit facility and for general partnership purposes.

Barclays Capital Inc. is acting as the underwriter. A copy of the preliminary prospectus supplement and prospectus relating to the offering may be obtained by contacting Barclays c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, toll-free: (888) 603-5847, barclaysprospectus@broadridge.com.

You may also obtain these documents for free when they are available by visiting EDGAR on the Securities and Exchange Commission, or SEC, web site at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, 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 jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended. The offering will be made pursuant to an effective shelf registration statement and prospectus filed by ETP with the SEC.

Energy Transfer Partners, L.P. (NYS: ETP) is a master limited partnership owning and operating one of the largest and most diversified portfolios of energy assets in the United States. ETP currently has natural gas operations that include approximately 24,000 miles of gathering and transportation pipelines, treating and processing assets, and storage facilities. ETP also owns general partner interests, 100% of the incentive distribution rights, and a 32.4% limited partnership interest in Sunoco Logistics Partners L.P. (NYS: SXL) , which operates a geographically diverse portfolio of crude oil and refined products pipelines, terminalling and crude oil acquisition and marketing assets. ETP also holds a 70% interest in Lone Star NGL, a joint venture that owns and operates natural gas liquids storage, fractionation and transportation assets in Texas, Louisiana and Mississippi. In addition, ETP holds controlling interest in a corporation (ETP Holdco Corporation) that owns Southern Union Company and Sunoco, Inc. ETP‘s general partner is owned by …read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

American Campus Communities, Inc. Announces Pricing of $400 Million 3.750 Percent Senior Unsecured N

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

American Campus Communities, Inc. Announces Pricing of $400 Million 3.750 Percent Senior Unsecured Notes Due 2023

AUSTIN, Texas–(BUSINESS WIRE)– American Campus Communities, Inc. (NYS: ACC) , the largest owner, manager and developer of high-quality student housing properties in the U.S., today announced that its operating partnership, American Campus Communities Operating Partnership LP, priced a $400 million offering of senior unsecured notes under its existing shelf registration. These ten-year notes were issued at 99.659 percent of par value with a coupon of 3.750 percent and are fully and unconditionally guaranteed by the Company. Interest on the notes is payable semi-annually on April 15 and October 15, with the first payment beginning on October 15, 2013. The notes will mature on April 15, 2023. The Operating Partnership expects to use the net proceeds of approximately $394.9 million to repay the outstanding balance of its revolving credit facility, to fund its current development pipeline and potential acquisitions of student housing properties and for general business purposes. Settlement is scheduled for April 2, 2013.

BofA Merrill Lynch, Deutsche Bank Securities, J.P. Morgan and Wells Fargo Securities are Joint Book-Running Managers for the offering.

The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. A copy of the prospectus supplement and prospectus relating to the offering may be obtained by contacting Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York NY 10005, (800) 503-4611; J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York 10179, Attention: Investment Grade Syndicate Desk – 3rd floor, by calling (212) 834-4533; Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, 11th Floor, New York, NY 10038, Attention: Prospectus Department, by calling 800-294-1322 or by email at dg.prospectus_requests@baml.com; or Wells Fargo Securities, LLC, 1525 West W.T. Harris Blvd., NC0675, Charlotte, NC 28262, Attention: Capital Markets Client Support, by telephone by calling (800) 326-5897 or e-mail request to cmclientsupport@wellsfargo.com.

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 notes 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 any …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Is R.R. Donnelly Destined for Greatness?

Leave a comment

By Alex Planes, The Motley Fool

RRD Total Return Price Chart

Filed under:

Investors love stocks that consistently beat the Street without getting ahead of their fundamentals and risking a meltdown. The best stocks offer sustainable market-beating gains, with robust and improving financial metrics that support strong price growth. Does R.R. Donnelly fit the bill? Let’s look at what its recent results tell us about its potential for future gains.

What we’re looking for
The graphs you’re about to see tell Donnelly’s story, and we’ll be grading the quality of that story in several ways:

  • Growth: are profits, margins, and free cash flow all increasing?
  • Valuation: is share price growing in line with earnings per share?
  • Opportunities: is return on equity increasing while debt to equity declines?
  • Dividends: are dividends consistently growing in a sustainable way?

What the numbers tell you
Now, let’s look at Donnelly’s key statistics:

RRD Total Return Price data by YCharts.

Passing Criteria

3-Year* Change 

Grade

Revenue growth > 30%

3.7%

Fail

Improving profit margin

(936.4%)

Fail

Free cash flow growth > Net income growth

(60.5%) vs. (2,286.1%)

Pass

Improving EPS

(2,676.9%)

Fail

Stock growth (+ 15%) < EPS growth

(36.5%) vs. (2,676.9%)

Fail

Source: YCharts.
*Period begins at end of Q4 2009.

RRD Return on Equity data by YCharts.

Passing Criteria

3-Year* Change

Grade

Improving return on equity

(5,995.8%)

Fail

Declining debt to equity

3,160.0%

Fail

Dividend growth > 25%

0.0%

Fail

Free cash flow payout ratio < 50%

38.5%

Pass

Source: YCharts.
*Period begins at end of Q4 2009.

How we got here and where we’re going
Donnelly barely squeaks through with two passing grades, and one of those is a technicality. Free cash flow might be in positive territory, but over the past three years, the company has shaved a great deal of that amount off as its businesses have declined. Is there any hope for this high-yielder with the near-double-digit payout, or is this one dangerous stock best left on the rejection pile?

Donnelly has actually been trending higher through 2013, which could be the start of a sustainable turnaround, but which is more likely to be a short-term dead-cat bounce based on dividend seekers jumping into a depressed stock. Consider what happened to the company in 2012: Its biggest news-making event was a pitiful filing error on Google‘s behalf with the SEC.

Someone at Donnelly got fat fingers with Big G’s quarterly report, and the reaction was so intense that trading in the stock had to be halted. Think about that. A $200 billion-plus company’s stock was halted because someone at Donnelly screwed up with the SEC. Donnelly’s ownership of the EDGAR online system, where millions of stock researchers (including yours truly) go to find SEC filings, makes this more egregious. Accuracy is essential, and human errors are unavoidable — but how can you let it happen to one of the most-followed companies in the world? Google switched filing providers after that brouhaha. How many other companies …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Nordion and Dr. Reddy's Laboratories Settle Claims

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Nordion and Dr. Reddy’s Laboratories Settle Claims

OTTAWA, Ontario–(BUSINESS WIRE)– Nordion Inc. (TSX: NDN) (NYS: NDZ) , a leading provider of products and services to the global health science market, has settled claims filed against Nordion by Dr. Reddy’s Laboratories Ltd. and certain affiliated companies (“Dr. Reddy’s”). Details of the settlement are confidential.

During fiscal 2009, Nordion was served with a Complaint from Dr. Reddy’s related to repeat study and mitigation costs of $10 million and lost profits of $70 million. This legal action, commenced by Dr. Reddy’s in New Jersey, related to certain bioequivalence studies carried out by the former MDS Pharma Services business unit from January 1, 2000 to December 31, 2004.

The settlement is expected to result in a loss of US$1.4 million for the Company after taking into account financial reserves maintained by the Company in relation to the claim. The settlement, most of which is covered by insurance, will result in a net cash outflow of US$17 million that includes insurance proceeds received to date. Nordion intends to report these items in its quarterly reporting for its second fiscal quarter of 2013.

About Nordion Inc.

Nordion Inc. (TSX: NDN) (NYS: NDZ) is a global health science company that provides market-leading products used for the prevention, diagnosis and treatment of disease. We are a leading provider of targeted therapies, sterilization technologies, and medical isotopes that benefit the lives of millions of people in more than 60 countries around the world. Our products are used daily by pharmaceutical and biotechnology companies, medical-device manufacturers, hospitals, clinics and research laboratories. Nordion has approximately 500 highly skilled employees worldwide. Find out more at www.nordion.com and follow us at http://twitter.com/NordionInc.

Forward-Looking Statements

Certain statements contained in this news release constitute “forward-looking statements”. These statements are based on current beliefs and assumptions of management, however are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. For additional information with respect to certain of these beliefs, assumptions, risks and uncertainties, please refer to Nordion’s Annual Information Form for fiscal 2012 available on SEDAR at www.sedar.com and on EDGAR on www.sec.gov.

<div class="image …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Cardiovascular Systems Prices Public Offering of Common Stock

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Cardiovascular Systems Prices Public Offering of Common Stock

ST. PAUL, Minn.–(BUSINESS WIRE)– Cardiovascular Systems, Inc. (CSI) (NAS: CSII) , a medical device company focused on developing and commercializing innovative interventional treatment systems for vascular disease, today announced the pricing of an underwritten public offering of 2,000,000 shares of its common stock, at a price to the public of $17.60 per share. The net proceeds to CSI from the sale of the shares, after deducting underwriting discounts and commissions, and estimated expenses, are expected to be approximately $33 million. All of the shares in the offering are to be sold by CSI. The offering is expected to close on or about March 25, 2013.

In connection with the offering, CSI has also granted the underwriters a 30-day option to purchase up to an additional 300,000 shares to cover over-allotments, if any.

Leerink Swann LLC is acting as the sole book-running manager of the offering. JMP Securities LLC is acting as co-manager.

The offering will be conducted pursuant to an effective shelf registration statement, including a base prospectus, which is on file with the Securities and Exchange Commission (SEC). A final prospectus supplement related to the offering will be filed with the SEC. Copies of the final prospectus supplement and the base prospectus relating to the offering, when available, may be obtained by visiting EDGAR on the SEC‘s website at http://www.sec.gov. Alternatively, copies of the final prospectus supplement and base prospectus related to the offering, when available, may be obtained from Leerink Swann LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by calling (800) 808-7525 ext. 4814.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of CSI, and there will not be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Cardiovascular Systems, Inc.

Cardiovascular Systems, Inc., based in St. Paul, Minn., is a medical device company focused on developing and commercializing innovative solutions for treating vascular and coronary disease. The company’s Orbital Atherectomy Systems treat calcified and fibrotic plaque in arterial vessels throughout the leg in a few minutes of treatment time, and address many of the limitations associated with existing surgical, catheter and …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Cardiovascular Systems Announces Proposed Public Offering of Common Stock

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Cardiovascular Systems Announces Proposed Public Offering of Common Stock

ST. PAUL, Minn.–(BUSINESS WIRE)– Cardiovascular Systems, Inc. (“CSI“) (NAS: CSII) , a medical device company focused on developing and commercializing innovative interventional treatment systems for vascular disease, today announced that it intends to offer and sell shares of its common stock, subject to market and other conditions, in an underwritten public offering. All of the shares in the offering are to be sold by CSI. CSI also expects to grant the underwriters a 30-day option to purchase additional shares of its common stock to cover over-allotments, if any.

Leerink Swann LLC is acting as the sole book-running manager of the offering. JMP Securities LLC is acting as co-manager.

The offering will be conducted pursuant to an effective shelf registration statement, including a base prospectus, which is on file with the Securities and Exchange Commission (“SEC“). A preliminary prospectus supplement related to the offering will be filed with the SEC. Copies of the preliminary prospectus supplement and the base prospectus relating to the offering, when available, may be obtained by visiting EDGAR on the SEC‘s website at http://www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and base prospectus related to the offering, when available, may be obtained from Leerink Swann LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by calling (800) 808-7525 ext. 4814.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of CSI, and there will not be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Cardiovascular Systems, Inc.

Cardiovascular Systems, Inc., based in St. Paul, Minn., is a medical device company focused on developing and commercializing innovative solutions for treating vascular and coronary disease. The company’s Orbital Atherectomy Systems treat calcified and fibrotic plaque in arterial vessels throughout the leg in a few minutes of treatment time, and address many of the limitations associated with existing surgical, catheter and pharmacological treatment alternatives. The U.S. Food and Drug Administration (“FDA”) granted 510(k) clearance for the use of the Diamondback Orbital Atherectomy System in August 2007. To date, over 100,000 of CSI‘s devices have been sold to institutions across the United States. CSI recently completed its ORBIT II …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Community Financial Shares, Inc. Extends Rights Offering Subscription Period

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Community Financial Shares, Inc. Extends Rights Offering Subscription Period

GLEN ELLYN, Ill.–(BUSINESS WIRE)– Community Financial Shares, Inc., (the “Company”) (OTCQB: CFIS), the parent company of Community Bank-Wheaton/Glen Ellyn (the “Bank”), is extending the rights offering described in its prospectus filed with the Securities and Exchange Commission on February 19, 2013 (the “Rights Offering“). The Rights Offering was originally scheduled to expire on March 18, 2013 and the Company is extending the Rights Offering by four days in order to ensure that its stockholders have adequate time to consider and participate in the Rights Offering. Holders of the subscription rights will now have until 5:00 p.m. Eastern Time on March 22, 2013 to exercise their rights or to provide their custodian bank, broker, dealer or other nominee with instructions to exercise their subscription rights and their payment for shares.

As previously announced, each holder of the Company’s common stock on December 20, 2012 received one non-transferable subscription right for each share of the Company’s common stock that holder owned either as a holder of record or, in the case of shares held of record by custodian banks, brokers, dealers or other nominees on holder’s behalf, as a beneficial owner of such shares. Each subscription right entitles a stockholder to purchase 2.4091 shares of common stock of the Company at a subscription price of $1.00 per share.

Other than the new expiration date for the Rights Offering, all of the terms of the Rights Offering described in the Company’s prospectus dated February 14, 2013 remain the same and apply during the extended period of the Rights Offering. Full details of the Rights Offering were disclosed in the prospectus sent to the Company’s stockholders.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities, 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.

The Company has filed a registration statement (including a prospectus) with the SEC for the Rights Offering. Stockholders should read the prospectus in that registration statement and other documents the Company has filed with the SEC for more complete information about the Company and this Rights Offering. The documents are available free of charge by visiting EDGAR on the SEC website at www.sec.gov.

Any questions or requests regarding the Company or the rights …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Hot Topics Recap:  March Madness 2013

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Hot Topics Recap:  March Madness 2013

NEW YORK–(BUSINESS WIRE)– The following releases focus on March Madness 2013:

AMSTERDAM & SAN FRANCISCO– AVG Technologies Offers Security Tips for March Madness Source: AVG

SAN FRANCISCO– Bracketology Goes Social as Fanhood Offers Major Updates to March Madness Betting Source: Fanhood

SAN DIEGO– The UPS Store Helps Small Businesses Score During NCAA® March Madness® Source: UPS

MINNEAPOLIS– Buffalo Wild Wings – The Official Hangout of NCAA March Madness – is Ready for Tip Off Source: Buffalo Wild Wings

MINNEAPOLIS– Buffalo Wild Wings Expands College Sports Alliance with NCAA® Sponsorship Source: Buffalo Wild Wings

NAPLES, Fla.– “The Perfect Game,” Opens in Time for March Madness Source: John Grissmer

MINNEAPOLIS– Buffalo Wild Wings Expands College Sports Alliance with NCAA® Sponsorship Source: Buffalo Wild Wings

About Business Wire

Business Wire, a Berkshire Hathaway company, is the global leader in press release distribution and regulatory disclosure. Public relations and investor relations professionals rely on Business Wire for both broad-based and targeted market reach. A recognized disclosure service in the United States, Canada and a dozen European countries, Business Wire handles document formatting and regulatory filing into EDGAR, SEDAR and other systems. Professional communicators from public and private companies, government agencies, advocacy groups and more rely on Business Wire for both broad-based and targeted reach — with IR services for public companies and PR services that include Public Policy, LatinoWire and Corporate Social Responsibility. Business Wire provides online newsroom hosting and integration services as well as search engine optimization, mobile distribution and detailed measurement on every press release. Its patented NX delivery platform provides simultaneous full-text posting of Business Wire content to news systems and websites in virtually any country or language. With 31 bureaus worldwide, Business Wire offers local service and global reach.

Learn more at BusinessWire.com and the BusinessWired blog; follow updates on Twitter: @businesswire or on Facebook.

…read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

CBRE Group, Inc. Announces Completion of Offering of $800 Million of 5.00% Senior Unsecured Notes Du

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

CBRE Group, Inc. Announces Completion of Offering of $800 Million of 5.00% Senior Unsecured Notes Due 2023

LOS ANGELES–(BUSINESS WIRE)– CBRE Group, Inc. (NYS: CBG) today announced the completion of the offering of $800 million in aggregate principal amount of 5.00% Senior Notes due 2023 (the “Notes”). The Notes have an interest rate of 5.00% per annum and were issued at a price equal to 100% of their face value. The Notes were issued by the Company’s wholly-owned subsidiary, CBRE Services, Inc., and guaranteed by the Company and its subsidiaries that guarantee its senior secured credit facility, on a full and unconditional basis.

The Company estimates that the net proceeds from the offering will be approximately $785.2 million, after deducting the underwriters’ discounts and estimated offering expenses. The Company intends to use the net proceeds from such offering of the Notes to repay a portion of its outstanding indebtedness under its senior secured credit facilities.

BofA Merrill Lynch, J.P. Morgan, Credit Suisse, Wells Fargo Securities, HSBC, Scotiabank, Barclays Capital and RBS acted as joint book-running managers for the offering of the Notes. The offering of the Notes was made only by means of a prospectus supplement and accompanying base prospectus, which may be obtained for free by visiting EDGAR on the SEC‘s website at www.sec.gov. Alternatively, copies may be obtained from: BofA Merrill Lynch, 222 Broadway, 11th Floor, New York, NY 10038, Attention: Prospectus Department, or email: dg.prospectus_requests@baml.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 the Notes, 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.

“Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, statements related to the offering of the Notes and the anticipated use of proceeds therefrom. These forward-looking statements involve known and unknown risks, uncertainties and other factors discussed in the Company’s filings with the Securities and Exchange Commission (the “SEC“). Any forward-looking statements speak only as of the date of the press releases and, except to the extent …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Atlas Announces Exercise of Underwriters Option in US IPO

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Atlas Announces Exercise of Underwriters Option in US IPO

CHICAGO–(BUSINESS WIRE)– Atlas Financial Holdings, Inc. (NASDAQ: AFH; TSX.V: AFH) (“Atlas” or the “Company”) today announced that the underwriters of the Company’s recently completed initial public offering have purchased an additional 451,500 ordinary shares from the Company, pursuant to their over-allotment option, at the initial public offering price of $5.85 per share, less underwriting discounts and commissions.

Sandler O’Neill + Partners, L.P. acted as the book-running manager for the offering. Sterne, Agee & Leach, Inc., EarlyBirdCapital, Inc. and Sidoti & Company LLC acted as co-managers for the offering in the United States. Canaccord Genuity Corp. acted as lead underwriter in connection with the offering in Canada.

Atlas filed a registration statement on Form S-1 (File No. 333-183276), including a prospectus, with the SEC for the offering, which was declared effective by the SEC on February 11, 2013. The offering was also made in Canada pursuant to a short form prospectus filed in the provinces of Ontario, Alberta and British Columbia. Prospective investors should read the prospectus in the registration statement and other documents that the Company has filed for more complete information about the Company and the offering. Investors may obtain these documents without charge by visiting EDGAR on the SEC or SEDAR websites at www.sec.gov and www.sedar.com, respectively. Alternatively, copies of the U.S. written prospectus may be obtained from Sandler O’Neill + Partners, 1251 Avenue of The Americas, 6th Floor, New York, NY 10020, (866) 805-4128, and copies of the Canadian short form prospectus may be obtained from Canaccord Genuity Corp., 161 Bay Street, 30th Floor, Toronto, Ontario, Canada, M5J 2S1.

The offering was made only by means of a written prospectus forming a part of the effective registration statement.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, 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 jurisdiction.

About Atlas Financial Holdings, Inc.

The primary business of Atlas is commercial automobile insurance in the United States, with a niche market orientation and focus on insurance for the “light” commercial automobile sector including taxi cabs, non-emergency paratransit, limousine/livery and business auto. The business of Atlas is carried on through its …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Barclays Launches the Barclays ETN+ Select MLP Exchange Traded Note

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Barclays Launches the Barclays ETN+ Select MLP Exchange Traded Note

New Barclays ETN+ Select MLP ETN (ticker: ATMP) provides investors with exposure to a select group of partnerships and companies in the MLP space

NEW YORK–(BUSINESS WIRE)– Barclays Bank PLC announced today the launch of the Barclays ETN+ Select MLP Exchange Traded Note (“ETN”) on the NYSE Arca stock exchange under the ticker symbol ATMP. The ETN is designed to provide investors with exposure to a basket of midstream US master limited partnerships (“MLPs”), limited liability companies (“LLCs”) and corporations by tracking the volume weighted average price (“VWAP“) of the Atlantic Trust Select MLP Index (the “Index”). Additionally, the Index will also provide exposure to general partners of US MLPs in Canada.

“In response to the growing demand for yield, this MLP ETN offers the potential for income along with upside appreciation via a more focused exposure to a subset of general partners and limited partners in the MLP space, developed by the Atlantic Trust team,” said Ian Merrill, Head of Barclays ETNs, Americas. “We are pleased to have been able to extend our range of Barclays ETN+ ETNs through this partnership.”

“The objective of the Index is to focus on a select group of midstream MLPs, as defined by credit ratings, size and other criteria, and their respective general partners,” said Adam Karpf, Portfolio Manager and Managing Director at Atlantic Trust. “Within the MLP sector, we believe that investment grade midstream MLPs offer an attractive opportunity set to capitalize on the secular trends in the energy industry. The inclusion of midstream general partners in the Index, structured as both MLPs and corporations, provides additional exposure to a fast growing and attractive sub-sector in the energy infrastructure industry.”

The ETN prospectus can be found on EDGAR, the SEC website at: www.sec.gov, as well as on the product website at www.etnplus.com.

Barclays ETN+ ETNs are senior, unsecured, unsubordinated debt securities issued by Barclays Bank PLC. Barclays Bank PLC is the issuer of Barclays ETN+ ETNs and Barclays Capital Inc. is the issuer’s agent.

Barclays moves, lends, invests and protects money for customers and clients worldwide. With over 300 years of history and expertise in banking, we operate in over 50 countries and employ over 140,000 people. We provide large corporate, government and institutional clients with a full spectrum of solutions to their strategic advisory, financing and risk management needs. Our clients also benefit from access to the breadth of expertise across Barclays. We’re one of the largest …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

CBRE Group, Inc. Announces Pricing of $800 Million of 5.00% Senior Unsecured Notes Due 2023

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

CBRE Group, Inc. Announces Pricing of $800 Million of 5.00% Senior Unsecured Notes Due 2023

LOS ANGELES–(BUSINESS WIRE)– CBRE Group, Inc. (NYS: CBG) today announced the pricing of its offering of $800 million in aggregate principal amount of 5.00% senior notes due 2023 (the “Notes”). The Notes will have an interest rate of 5.00% per annum and are being issued at a price equal to 100% of their face value. The Notes will be issued by the Company’s wholly-owned subsidiary, CBRE Services, Inc., and guaranteed by the Company and the subsidiaries that guarantee its senior secured credit facility, on a full and unconditional basis.

The Company estimates that the net proceeds from the offering will be approximately $785.2 million, after deducting the underwriters’ discounts and estimated offering expenses. The Company intends to use the net proceeds from such offering of the Notes to repay a portion of its outstanding indebtedness under its senior secured credit facilities.

BofA Merrill Lynch, J.P. Morgan, Credit Suisse, Wells Fargo Securities, HSBC, Scotiabank, Barclays Capital and RBS are acting as joint book-running managers for the offering of the Notes.

The Notes are being offered pursuant to an effective shelf registration statement that the Company previously filed with the Securities and Exchange Commission (the “SEC“). The offering of the Notes will be made only by means of a prospectus supplement and accompanying base prospectus, which may be obtained for free by visiting EDGAR on the SEC‘s website at www.sec.gov. Alternatively, copies may be obtained from: BofA Merrill Lynch, 222 Broadway, 11th Floor, New York, NY 10038, Attention: Prospectus Department, or email: dg.prospectus_requests@baml.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 the Notes, 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.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, statements related to the offering of the Notes and the anticipated use of proceeds therefrom. These forward-looking statements involve known and unknown risks, uncertainties and other factors discussed in CBRE Group, Inc.’s filings with the SEC. …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Enterprise Prices $2.25 Billion of Senior Unsecured Notes

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

Enterprise Prices $2.25 Billion of Senior Unsecured Notes

HOUSTON–(BUSINESS WIRE)– Enterprise Products Partners L.P. (NYS: EPD) today announced that its operating subsidiary, Enterprise Products Operating LLC (“EPO”), has priced a public offering of $2.25 billion of senior unsecured notes comprised of $1.25 billion due on March 15, 2023 (“Senior Notes HH”) and $1 billion due on March 15, 2044 (“Senior Notes II”). Net proceeds from the offering are expected to be used to repay debt, including the refinancing of $550 million principal amount of senior notes that matured in February 2013 and $650 million principal amount of senior notes scheduled to mature in April 2013, and for general company purposes.

The Senior Notes HH will be issued at 99.908 percent of their principal amount and will have a fixed-rate interest coupon of 3.35 percent, and the Senior Notes II will be issued at 99.619 percent of their principal amount and will have a fixed-rate interest coupon of 4.85 percent. The expected settlement date for the offering is March 18, 2013. Enterprise Products Partners L.P. will guarantee the senior notes through an unconditional guarantee on an unsecured and unsubordinated basis.

J.P. Morgan Securities LLC, DNB Markets, Inc., Morgan Stanley & Co. LLC, RBS Securities Inc., Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC acted as joint book-running managers for the offering. An investor may obtain a free copy of the prospectus as supplemented by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the issuer or any underwriter or dealer participating in this offering will arrange to send a prospectus as supplemented to an investor if requested by contacting J.P. Morgan Securities LLC at (212) 834-4533, Morgan Stanley & Co. LLC at (866) 718-1649, RBS Securities Inc. at (866) 884-2071 or Wells Fargo Securities, LLC at (800) 326-5897.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the senior notes described in this press release, nor shall there be any sale of these notes 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 jurisdiction. The offering is being made only by means of a prospectus and related prospectus supplement, which are part of an effective registration statement.

Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Who Owns ARMOUR Residential?

Leave a comment

By John Maxfield, The Motley Fool

Filed under:

When it comes to investing, going with the crowd will rarely — if ever — make you rich. If your objective is to buy low and sell high, then, in the words of Warren Buffett, you must be “greedy when others are fearful and fearful when others are greedy.” This is the foundation of contrarian investing.

But there’s a twist. To be a contrarian investor, you must first know what to be contrary to. And this is where the SEC‘s invaluable EDGAR database comes in. Every quarter, companies and large institutional investors are required to disclose their equity holdings. By patching these together, we can get a fuller picture of a particular stock‘s popularity.

What follows, in turn, is a look at the principal owners of ARMOUR Residential‘s outstanding common stock.

A broad overview
As you can see in the following chart, the majority of ARMOUR‘s 374 million shares are held by retail investors. Company insiders, including board members and corporate executives, own a further 3.5% of the outstanding common stock. And institutional investors own the remaining 25%.

Source: S&P’s Capital IQ.

Institutional investors
Digging in a bit further, the largest institutional stake holders in ARMOUR are asset managers. Bond giant BlackRock tops the list at 6.2% ownership, followed by The Vanguard Group at 3.4%, and the asset management arm of State Street comes in third with a 1.5% stake.

Source: S&P’s Capital IQ.

The largest buyers have been BlackRock and Robeco Group, which have recently acquired 2.4 million and 1.2 million shares of common stock, respectively. Meanwhile, the two largest sellers of late have been SAB Capital Management and Corvex Management, which have disposed of 7.1 million and 3.5 million shares, respectively.

Biggest insiders
Turning to inside investors, far and away the largest inside owner is Scott Bommer, the founder of SAB Capital Management, with 12.3 million shares. The second largest holder is chairman Daniel Staton II, with 212,008 shares. And in third place is board member Thomas Guba, with 203,321 shares.

Source: S&P’s Capital IQ.

The Foolish bottom line
While insider and institutional ownership together represent only one metric, it’s nevertheless an important one. Beyond hinting at the overall market‘s sentiment toward a stock, it also gives investors insight into the confidence of the people best positioned to predict a company’s current state and future success.

If you’re looking for some long-term investing ideas, check out the Fool’s special report: “The 3 Dow Stocks Dividend Investors Need.” It’s absolutely free, so just click here and get your copy today.

The article Who Owns ARMOUR Residential? originally appeared on Fool.com.


John Maxfield has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

ACE Limited Announces Pricing of $950 Million Senior Notes Offering by Subsidiary

Leave a comment

By Business Wirevia The Motley Fool

Filed under:


ACE Limited Announces Pricing of $950 Million Senior Notes Offering by Subsidiary

ZURICH–(BUSINESS WIRE)– ACE Limited (NYS: ACE) announced today that its subsidiary, ACE INA Holdings Inc., has agreed to sell $475 million of 2.70% senior notes due March 2023, and $475 million of 4.15% senior notes due March 2043. The notes are guaranteed by ACE Limited.

The net proceeds from the sale of the notes will be used to repay at maturity $500 million of the company’s 5.88% senior notes maturing in June 2014 and $450 million of its 5.60% senior notes maturing in May 2015. Pending such application, the company may make the net proceeds available to its subsidiaries or invest them in marketable securities.

The joint book-running managers for the offering are Citigroup Global Markets Inc., Wells Fargo Securities, LLC, Mitsubishi UFJ Securities (USA), Inc. and Deutsche Bank Securities Inc.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the senior notes or any other securities, nor will there be any sale of the senior notes or any other 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. The offering is being made only by means of a prospectus supplement and accompanying prospectus. When available, copies of these documents may be obtained from: Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling 1-800-831-9146; or Wells Fargo Securities, LLC, 1525 West W.T. Harris Blvd., NC0675, Charlotte, NC 28262, Attn: Capital Markets Client Support, or by calling 800-326-5897 or by email cmclientsupport@wellsfargo.com. Alternatively, the prospectus supplement and accompanying prospectus may be obtained by visiting EDGAR on the SEC Web site at www.sec.gov.

The ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 53 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE Limited, the parent company of the ACE Group, is listed on the New York Stock Exchange (NYS: ACE) and is a component of the S&P 500 index.

…read more
Source: FULL ARTICLE at DailyFinance
Business, Finance, Occupation & Industry

FleetCor Announces Secondary Offering by Selling Stockholders

Leave a comment

By Business Wirevia The Motley Fool

Filed under:

FleetCor Announces Secondary Offering by Selling Stockholders

NORCROSS, Ga.–(BUSINESS WIRE)– FleetCor Technologies, Inc. (NYS: FLT) today announced that selling stockholders have agreed to sell 4.5 million shares of FleetCor common stock in an underwritten offering. FleetCor will not sell any shares in the offering and will not receive any proceeds from the offering.

Citigroup will act as sole underwriter for the offering.

A shelf registration statement (including prospectus) relating to the shares is effective with the Securities and Exchange Commission. Before you invest, you should read the prospectus and other documents filed with the Securities and Exchange Commission for more complete information about FleetCor and this offering. You may get these documents for free by visiting EDGAR on the Securities and Exchange Commission Web site at www.sec.gov. Alternatively, copies of the prospectus and prospectus supplement, when available, may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146).

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities 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 any such state or other jurisdiction. The offering of these securities will be made only by means of the prospectus supplement and the accompanying prospectus.

About FleetCor

FleetCor is a leading global provider of fuel cards and workforce payment products to businesses. FleetCor’s payment programs enable businesses to better control employee spending and provide card-accepting merchants with a high volume customer base that can increase their sales and customer loyalty. FleetCor serves commercial accounts in North America, Latin America, and Europe. For more information, please visit www.fleetcor.com.

FleetCor
Investor Relations
770-729-2017
investor@fleetcor.com

KEYWORDS:   United States  North America  Georgia

INDUSTRY KEYWORDS:

The article FleetCor Announces Secondary Offering by Selling Stockholders 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 …read more
Source: FULL ARTICLE at DailyFinance