On Friday, BioDelivery Sciences International, Inc. (NASDAQ:BDSI)’s shares declined -1.64% to $8.40.
BioDelivery Sciences International, Inc. (BDSI) together with its merged auxiliaries, Arius Pharmaceuticals, Inc., a Delaware corporation (“Arius”), and Arius Two, Inc., a Delaware corporation (“Arius Two”, and together with Arius, the “Auxiliaries”, and the Auxiliaries together with the Company, collectively, the “Borrowers”), reached a $30 million secured loan facility (the “Loan Transaction” and such loan, the “Loan”) with MidCap Financial Trust, as agent and lender (“MidCap”), following the terms and conditions of that certain Amended and Restated Credit and Security Agreement, dated as of May 29, 2015 (the “Credit Agreement”), among the Borrowers and MidCap. The Credit Agreement is a restatement, amendment and modification of a prior Credit and Security Agreement, dated as of July 5, 2013 (the “Prior Agreement”) among the Borrowers, MidCap Financial SBIC, LLP, a predecessor to MidCap, and certain lenders thereto. The Credit Agreement restructures, renews, extends and modifies the obligations under the Prior Agreement and the other financing documents executed in connection with the Prior Agreement (the “Prior Loan”). The amount of principle under the Prior Loan, which was comprised of as part of the Loan, was about $9.3 million. The Company received net Loan proceeds in the aggregate amount of about $20.1 million and will use the Loan proceeds for general corporate purposes or other activities of Borrower and its Auxiliaries permitted under the Credit Agreement.
The Loan has a term of 42 months, with interest only payments for the first 12 months. The interest rate is 8.45% plus a LIBOR floor of 0.5%, with straight line amortization, commencing on June 1, 2016, in an amount equal to $1 million per month. Upon execution of the Credit Agreement, the Company paid to MidCap a closing fee from the prior loan of about $445,000. Upon repayment in full of the Loan, the Company is obligated to make a final payment fee equal to 2.75% of the aggregate Loan amount. In addition, the Company may prepay all or any portion of the Loan at any time subject to a prepayment premium of: (i) 5% of the Loan amount prepaid in the first year following the execution of the Credit Agreement and (ii) 3% of the Loan amount prepaid in each year thereafter.
BioDelivery Sciences International, Inc., a specialty pharmaceutical company, engages in the development and commercialization of pharmaceutical products principally in the areas of pain administration and addiction.
Dover Corp (NYSE:DOV)’s shares gained 0.14% to $73.78.
Dover Corp (DOV) declared a regular quarterly cash dividend of $0.40 (forty cents) per share, payable on June 15, 2015 to shareholders of record as of May 29, 2015.
Dover Corporation manufactures and sells a range of equipment and components, specialty systems, and support services in the United States. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for the production and processing of oil, natural gas liquids, and gas to drilling and production, bearings and compression, and automation end markets.
At the end of Friday’s trade, Qunar Cayman Islands Ltd (NASDAQ:QUNR)‘s shares surged 7.66% to $51.41.
Qunar Cayman Islands Ltd (QUNR) declared the pricing of its public offering of 6,526,316 American Depositary Shares (the “ADSs”) at a price of US$47.50 per ADS. Each ADS represents three Class B ordinary shares of the Company. The Company has granted to the underwriters a 30-day option to purchase up to an additional 315,790 ADSs.
The Company intends to use a majority of the net proceeds for general corporate purposes, counting the acquisition of new users. The Company also may use a portion of the net proceeds to acquire complementary businesses, products, services or technologies. However, the Company has not yet reached any agreements or commitments for any specific acquisitions at this time.
unar Cayman Islands Limited operates an online travel commerce platform in the People’s Republic of China. The company through its platform provides a range of travel products comprising flight tickets, hotels, vacation packages, and attraction tickets, in addition to display advertising, train tickets, car services, smart lodging, and other services. Its customers comprise flight travel service providers, airlines, independent hotels, online travel agencies, insurance service providers, and others.
Valero Energy Corporation (NYSE:VLO), ended its Friday’s trading session with 1.55% gain, and closed at $57.76.
Valero Energy Corporation (VLO) declared that Joe Gorder, Chairman, President, and Chief Executive Officer of Valero Energy Corporation will attend the JPMorgan Oil & Gas 1×1 Forum on Thursday, June 18.
Valero Energy Corporation operates as an independent petroleum refining and marketing company in the United States, Canada, the Caribbean, the United Kingdom, and Ireland. It operates through two segments, Refining and Ethanol. The Refining segment is involved in refining, wholesale marketing, product supply and distribution, and transportation operations.
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