On Thursday, Shares of E I Du Pont De Nemours And Co (NYSE:DD), lost -1.11% to $66.58.
Dyadic International, declared the closing of the formerly declared sale of substantially all of the assets of its Industrial Technology business to DuPont’s (DD) Industrial Biosciences business for $75 million in cash. As formerly declared, following the closing, Dyadic intends to focus exclusively on its biopharmaceutical business.
In connection with the closing of the Transaction, all of Dyadic’s outstanding debt has been paid off or converted into shares of Dyadic’s common stock. A total of $8.11 million in convertible debt was exchanged for 6.12 million shares of Dyadic’s common stock and 1.05 million warrants with a $1.48 per share strike price with a December 31, 2016 expiration date. A total of $0.56 million in cash and 0.10 million warrants with a $1.48 per share strike price with a December 31, 2016 expiration date was paid/issued to convertible debt holders who elected not to convert. In addition, the outstanding non-convertible note was paid off with $1.46 million in cash.
As a result of the conversion of debt into shares of Dyadic’s common stock a total of 6.12 million shares of Dyadic common stock will be issued upon the closing of the Transaction (not taking into account any shares that may be issued upon exercise of the granted warrants). This represents 17.9% of the shares of the Company’s outstanding common stock as of December 31, 2015. Also in connection with the above debt conversion, Dyadic’s CEO, Mark Emalfarb fully converted $1.0 million in debt for 0.69 million shares at a $1.48 per share price and the Francisco Trust, a trust for the benefit of his family, fully converted $0.5 million in debt for 0.40 million shares at a $1.28 per share price. The beneficial ownership of Dyadic common stock held by Dyadic’s CEO, Mark Emalfarb and the Francisco Trust reduced from 12.2% to 11.1% and from 12.7% to 11.1%, respectively.
E I. du Pont de Nemours and Company operates as a science and technology based company worldwide. The company’s Agriculture segment offers corn hybrid, soybean, canola, sunflower, sorghum, inoculants, seed products, wheat, rice, herbicides, fungicides, and insecticides.
Shares of Viacom, Inc. (NASDAQ:VIAB), inclined 0.73% to $41.16, during its last trading session.
Viacom Inc., has been notified of an unsolicited “mini-tender” offer by TRC Capital Corporation (TRC) to purchase up to 2,500,000 shares of Viacom Class B common stock at a price of $38.88 per share. The offer price is about 4.7% below the closing price of Viacom’s Class B shares on December 22, 2015, the day before commencement of the offer, and about 5.6% below closing price of $41.18. The offer is for about 0.72% of the outstanding Class B shares of Viacom common stock as of November 4, 2015.
Viacom does not endorse TRC’s unsolicited mini-tender offer and recommends that shareholders do not tender their shares. Viacom recommends that shareholders exercise caution with respect to TRC’s unsolicited mini-tender offer, and notes that the offer price is below Viacom’s current share price. Viacom also notes that the offer is subject to the satisfaction of a substantial number of conditions, counting the absence of any decrease in the market price of the company’s shares from the price on the date of the offer and the ability of TRC to finance the offer. If the market price of Viacom shares falls or TRC cannot obtain financing, TRC is permitted to terminate the offer and not purchase any shares.
Viacom, Inc. operates as an entertainment content company in the United States and internationally. The company creates television programs, motion pictures, short-form content, applications, games, consumer products, social media, and other entertainment content. It operates through two segments, Media Networks and Filmed Entertainment.
Finally, Huntsman Corporation (NYSE:HUN), ended its last trade with 0.89% gain, and closed at $11.37.
On Tuesday, December 29, 2015, NASDAQ Composite ended at 5,107.94, up 1.33%, Dow Jones Industrial Average advanced 1.10% to finish the day at 17,720.98, and the S&P 500 closed at 2,078.36, up 1.06%.
Huntsman Corp’s stock advanced 0.98% to close Tuesday’s session at USD 11.34. The share price vacillated between USD 11.15 and USD 11.50. The stock recorded a trading volume of 2.26 million shares, which was below its 50-day daily average volume of 4.39 million shares and its 52-week average volume of 3.66 million shares. Over the last three days Huntsman Corp’s shares have declined by 0.53% while in the past one week the stock moved up 5.69%. Huntsman Corp has a current dividend yield of 4.38%. Further, the company is trading at a price to earnings ratio of 56.70 and at a price to book ratio of 1.71. This compares to historical PE ratio of 16.93 and a historical PB ratio of 3.12. Moreover, the stock is trading at a price to cash flow ratio of 4.33 and at a price to sales ratio of 0.25.
Huntsman Corporation, together with its auxiliaries, manufactures and sells differentiated organic and inorganic chemical products worldwide. The company operates in five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives.
