During Monday’s Morning trade, Shares of JPMorgan Chase & Co. (NYSE:JPM), gained 1.59% to $69.16, hitting its highest level.
JPMorgan Chase & Co., declared that it received $60 million in the latest round of New Markets Tax Credit allocations to continue to invest in development projects in low-income communities.
Over more than a decade, Chase has invested in $5 billion of program-eligible activities supporting a diverse range of projects from job creation and health care to affordable healthy food and education, counting:
- Revitalizing a long-vacant building in downtown Jacksonville, Fla., into a center for nonprofits to foster partnership and growth
- Expanding a charter school to serve 320 students in West Oakland, Ca.
- Building a 44,000-square-foot “green” health clinic serving low-income families in southern Dallas.
JPMorgan Chase & Co. provides various financial services worldwide. The company operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset Administration.
Shares of TerraForm Power, Inc. (NASDAQ:TERP), inclined 1.06% to $38, during its current trading session.
TerraForm Power, declared the pricing of its underwritten public offering of 15,750,000 shares, or about $599 million, of its Class A common stock at a price to the public of $38.00 per share. TerraForm Power has also granted the underwriters a 30-day option to purchase an additional 2,362,500 shares, or about $90 million, of its Class A common stock at the price to the public. The offering is predictable to close on June 24, 2015 subject to satisfaction of customary closing conditions. TerraForm Power intends to use the net proceeds from the offering, together with the net proceeds of its recently accomplished offering of $150 million of its senior notes due 2023, to (a) repay amounts outstanding on its revolving credit facility, which amounts were used to fund formerly declared acquisitions counting Canadian solar plant acquisitions and the acquisition of certain solar generation facilities from a wholly-owned partner of Integrys Energy Group, Inc., and (b) for general corporate purposes, which may comprise the funding of future acquisitions from its sponsor (SunEdison, Inc.) (SUNE), future acquisitions from third parties, and/or debt repayment. To the extent the underwriters exercise their 30-day option to purchase additional shares, the net proceeds will be used to purchase Class B units of TerraForm Power, LLC, at the price to the public less the underwriting discount, from TerraForm Power’s sponsor.
Morgan Stanley, J.P. Morgan, Barclays, Citigroup, BofA Merrill Lynch, Macquarie Capital, and UBS Investment Bank are serving as joint bookrunners in the offering.
TerraForm Power, Inc. owns and operates solar and wind generation assets serving utility, commercial, and residential customers. As of February 20, 2015, its portfolio comprised of solar and wind projects located in the United States, Canada, the United Kingdom, and Chile with an aggregate nameplate capacity of 1,507.3 megawatt.
Finally, SS&C Technologies Holdings, Inc. (NASDAQ:SSNC), lost -0.96%, and is now trading at $64.17.
SS&C Technologies Holdings, declared the pricing of its public offering of 10,500,000 shares of its common stock at a public offering price of $61.50 per share. All of the shares in the offering are to be sold by SS&C. SS&C has granted the underwriters a 30-day option to purchase up to an additional 1,575,000 shares of common stock sold in the offering. The offering is planned to close on June 24, 2015, subject to customary closing conditions.
The Company intends to use a portion of the net proceeds, together with the proceeds from debt financing transactions, to finance its pending acquisition of Advent Software, Inc. (“Advent”) and to use the remaining net proceeds for general corporate purposes. Completion of the offering is not contingent upon consummation of the acquisition of Advent or the terms of the acquisition. If the acquisition of Advent is not consummated for any reason, the Company will use all of the net proceeds from the offering for general corporate purposes.
The offering is being made through an underwriting group led by Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc. and Credit Suisse Securities (USA) LLC, who are acting as joint book-running managers. Barclays Capital Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Jefferies LLC are acting as co-managers.
SS&C Technologies Holdings, Inc. provides software products and software-enabled services to financial services providers in North America, Europe, Asia, Australia, and Africa. The company’s products and services allow its clients to automate and integrate front-office functions, such as trading and modeling; middle-office functions comprising portfolio administration and reporting.
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