On Friday, GameStop Corp. (NYSE:GME)’s shares inclined 0.27% to $44.14.
GameStop Corp. (GME) declared they have reached a definitive agreement under which GameStop will acquire all of the outstanding shares of Geeknet’s common stock for $20.00 per share in cash. The transaction has been approved by the board of directors of both companies and will be accomplished by means of a tender offer. The transaction has a total equity value of about $140 million, counting $37 million of cash and cash equivalents as of March 31, 2015.
Geeknet also declared that it had terminated its formerly declared merger agreement with Hot Topic, Inc. (“Hot Topic”). Following talk aboution with both GameStop and Hot Topic, the Board of Directors of Geeknet determined that the GameStop transaction represented a superior proposal. Geeknet will pay Hot Topic a termination fee following the Hot Topic agreement, for which GameStop has agreed to reimburse Geeknet.
GameStop Corp. operates as a multichannel video game retailer. It sells new and pre-owned video game hardware; physical and digital video game software; pre-owned and value video game products; video game accessories, such as controllers, gaming headsets, memory cards, and other add-ons for use with video game hardware and software; and digital products, counting downloadable content, network points cards, prepaid digital and online timecards, and digitally downloadable software.
Store Capital Corp (NYSE:STOR)’s shares gained 0.48% to $20.80.
Store Capital Corp (STOR) declared the pricing of its follow-on public offering of 11,562,500 shares of common stock to be sold by the Company and 6,937,500 shares of common stock to be sold by the selling stockholder, at a public offering price of $20.25 per share. In connection with the offering, the selling stockholder has also granted the underwriters a 30-day option to purchase up to 2,775,000 additional shares of common stock. The offering is predictable to close on June 9, 2015, subject to customary closing conditions.
STORE Capital intends to use the net proceeds from the primary portion of the offering to repay amounts outstanding on its revolving credit facilities and to fund property acquisitions subject to purchase contracts in the ordinary course of business. The Company will not receive any proceeds from shares of common stock to be sold by the selling stockholder.
STORE Capital is a privately owned real estate investment trust. The firm invests in the real estate markets. It primarily invests in single-tenant properties counting chain restaurants, supermarkets, drugstores and other retail, service and distribution facilities. STORE Capital is based in Scottsdale, Arizona.
At the end of Friday’s trade, Puma Biotechnology Inc (NYSE:PBYI)‘s shares dipped -3.82% to $138.73.
Puma Biotechnology Inc (PBYI) declared that Alan H. Auerbach, Chairman, Chief Executive Officer, President and Founder of Puma, will provide an overview of the Company at 9:20 a.m. PDT on Wednesday, June 10, at the Goldman Sachs 36th Annual Global Healthcare Conference. The conference will be held at Terranea in Rancho Palos Verdes, California.
Puma Biotechnology, Inc., a development stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of products for the treatment of various forms of cancer. Its drug candidates comprise PB272 (neratinib (oral)) for the treatment of advanced breast cancer patients, non-small cell lung cancer patients, and patients with HER2 mutation-positive solid tumors; and PB272 (neratinib (intravenous)) for the treatment of advanced cancer patients.
Sears Holdings Corp (NASDAQ:SHLD), ended its Friday’s trading session with -6.39% loss, and closed at $40.74.
Sears Holdings Corp (SHLD) stated fiscal first-quarter profit of $2.2 million.
The Hoffman Estates, Illinois-based company said it had profit of 9 cents per share.
The appliance, hardware and tool retailer posted revenue of $582.8 million in the period.
Sears Hometown shares have reduced 46 percent since the starting of the year. The stock has fallen 68 percent in the last 12 months.
Sears Holdings Corporation operates as a retailer in the United States. It operates in two segments, Kmart and Sears Domestic. The Kmart segment operates retail stores that offer a range of products, counting consumer electronics, seasonal merchandise, outdoor living, toys, lawn and garden equipment, food and consumables, and apparel; and in-store pharmacies.
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