On Monday, Shares of KKR & Co. L.P. (NYSE:KKR), lost -1.50% to $15.80.
KKR, declared an agreement to pursue acquisitions and investment opportunities by establishing an integrated entity to provide asset administration services to the oil and gas industry globally. The platform will be led by Founder and Executive Chairman Deepak Munganahalli, who brings more than 20 years of global oil and gas experience to the company. He will be based in Dubai.
Mr. Munganahalli said, “Our aim is to become an integrated solutions provider for engineering, maintenance, repair and overhaul services for asset owners and operators in the oil and gas industry. Together with KKR and its deep industry and investment expertise, we look forward to providing a differentiated set of capabilities to the industry.”
to partner with Deepak, given his depth of experience and track record in the industry.”
KKR & Co. L.P. is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, administration buyouts, credit special situations, growth equity, mature, mezzanine, distressed, and middle market investments.
Shares of Actinium Pharmaceuticals Inc (NYSEMKT:ATNM), inclined 8.17% to $2.85, during its last trading session.
Actinium Pharmaceuticals, declared that the Company will be ringing the closing bell at the New York Stock Exchange on January 4, 2016.
Sandesh Seth, Executive Chairman of Actinium, stated, “Actinium anticipates 2016 to be a transformational year where we will see our lead drug candidate, Iomab-B, start a pivotal, Phase 3 clinical trial having just had its IND cleared and our cd33 targeting drug candidate, Actimab-A, start a Phase 2 clinical trial. With many milestones ahead of us this year, we are very excited to start the year by ringing the closing bell at the New York Stock Exchange.”
Actinium Pharmaceuticals, Inc., a biopharmaceutical company, develops drugs for the treatment of cancer. The company develops therapies for life threatening diseases using its alpha particle immunotherapy platform and other related and similar technologies.
Finally, EnteroMedics Inc (NASDAQ:ETRM), ended its last trade with -2.78% loss, and closed at $0.105.
EnteroMedics, declared shareholder approval for three proposals: (1) an amendment to the Company’s Fifth Amended and Restated Certificate of Incorporation to effect a reverse split of its issued and outstanding shares of common stock; (2) an improvement in the number of shares of common stock authorized for issuance effective after the reverse stock split; and (3) the issuance of shares of the Company’s common stock underlying convertible notes and warrants issued by EnteroMedics following the terms of a securities purchase agreement dated November 4, 2015.
With shareholder approval, the EnteroMedics Board of Directors has authorized a 1-for-15 reverse stock split of the Company’s common stock, which will be effective for trading purposes as of the commencement of trading on January 7, 2016. As of that date, each 15 shares of issued and outstanding common stock and equivalents will be converted into 1 share of common stock. Any fractional shares of common stock resulting from the reverse stock split will be rounded up to the nearest whole share and any fractional shares of common stock issuable following stock options or warrants will be rounded down to the nearest whole share. EnteroMedics stockholders will receive instructions from its transfer agent, Wells Fargo Bank National Association, as to procedures for exchanging existing stock certificates for new certificates or book-entry shares.
Under the terms of the November 4 securities purchase agreement, the Company will issue to five institutional investors $25.0 million of Senior Amortizing Convertible Notes (the “Notes”) and warrants (“Warrants”). $1.5 million of the Notes and Warrants were issued at the initial closing, with the balance to be issued in two tranches of $11.0 million and $12.5 million. The second closing will occur after the implementation of the reverse stock split, and the third closing will occur 45 days after the second closing. The Company presently intends to use the net proceeds from this offering to continue its commercialization efforts for the vBloc® Neurometabolic Therapy, for clinical and product development activities and for other working capital and general corporate purposes.
EnteroMedics Inc., a medical device company, focuses on the design and development of devices that use neuroblocking technology to treat obesity, metabolic diseases, and other gastrointestinal disorders. The company’s proprietary neuroblocking technology is designed to intermittently block the vagus nerve using electrical impulses.
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