On Monday, Liberty Interactive Group (NASDAQ:QVCA)’s shares declined -0.07% to $29.02.
Liberty Interactive LLC a partner of Liberty Interactive Corporation ( QVCA), declared a semi-annual interest payment to the holders of its 3.5% Senior Exchangeable Debentures due 2031 (the “Debentures”). The amount of the payment is $17.50 per $1,000 original principal amount of Debentures.
Under the Indenture for the Debentures, the original principal amount of the Debentures is adjusted in an amount equal to each extraordinary distribution made to holders of the Debentures. Thereafter, the adjusted principal amount is further reduced on each successive semi-annual interest payment date to the extent necessary to cause the semi-annual interest payment to represent the payment of an annualized yield of 3.5% of the adjusted principal amount. This latter adjustment, to the extent it is made by reason of a particular extraordinary distribution that results in an adjustment to the principal amount of the Debentures, takes effect on the second succeeding interest payment date after the payment of that extraordinary distribution.
Liberty Interactive Corporation, through its auxiliaries, engages in the video and on-line commerce industries in North America, Europe, and Asia. It markets and sells various consumer products primarily through live televised shopping programs, Websites, and mobile applications.
Asterias Biotherapeutics Inc (NYSEMKT:AST)’s shares dropped -1.82% to $5.39.
OncoCyte Corporation, a cancer diagnostics company and a member of the BioTime, Inc. (BTX) family of companies, declared that Andy Arno has been designated to the Company’s Board of Directors.
Andy Arno, 56, brings to OncoCyte a wealth of knowledge from his 30 years of capital markets experience working with emerging growth companies. He is presently Vice Chairman of “The Special Equities Group” at Chardan Capital Markets, LLC, a privately held investment banking firm. He was formerly Managing Director of Emerging Growth Equities, an investment bank, and Vice President of Sabr, Inc., as well as President of LOMUSA Limited, an investment banking firm. From 2009 to 2012, Andy served as Vice Chairman and Chief Marketing Officer of Unterberg Capital, LLC, an investment advisory firm that he co-founded. He also served as Vice Chairman and Head of Equity Capital Markets of Merriman Capital LLC, an investment banking firm, and served on the board of its parent company, Merriman Holdings, Inc. Mr. Arno presently serves on the boards of Asterias Biotherapeutics (AST) and Smith Micro Software, Inc., and is a graduate of George Washington University.
Asterias Biotherapeutics, Inc., a biotechnology company, focuses on the emerging field of regenerative medicines. It is developing pluripotent stem-cell therapeutic products in the areas of neurology and oncology.
At the end of Monday’s trade, Tenet Healthcare Corp (NYSE:THC)‘s shares dipped -0.09% to $58.68.
Tenet Healthcare Corporation (THC) has accomplished its formerly declared joint venture transaction with Welsh, Carson, Anderson & Stowe that combines the short-stay surgery and imaging center assets of Tenet and United Surgical Partners International (“USPI”) to create the leading U.S. short-stay surgery platform.
As contemplated in the original agreement declared on March 23, 2015, Tenet contributed its interest in 49 ambulatory surgery centers and 20 imaging centers to the joint venture and refinanced about $1.5 billion of existing USPI debt, which will be allocated to the joint venture through an intercompany loan. Tenet also made an about $404 million payment to pre-existing USPI shareholders to align the respective valuations of the assets contributed to the joint venture. Tenet owns 50.1% of the new USPI and will consolidate USPI’s financial results. Welsh Carson and the other existing shareholders in USPI own the remaining 49.9%. A pre-determined put-call structure provides a path to full ownership of USPI by Tenet over the next five years. Bill Wilcox will continue to lead USPI as chief executive officer and Brett Brodnax, president and chief development officer of USPI, will lead the company’s strategy and growth efforts. Kyle Burtnett, senior vice president for outpatient services at Tenet, will join USPI as president of ambulatory services and take on the additional role of chief integration officer for the new venture.
Tenet Healthcare Corporation, a healthcare services company, primarily operates acute care hospitals and related healthcare facilities in the United States. It operates through two segments, Hospital Operations and Other, and Conifer. The company’s general hospitals offer acute care services, operating and recovery rooms, radiology services, respiratory therapy services, clinical laboratories, and pharmacies.
Marriott International Inc (NASDAQ:MAR), ended its Monday’s trading session with 0.17% gain, and closed at $77.83.
Marriott International Inc (MAR) the world’s favorite travel company, and Universal Music Group (UMG), the global music leader, have created a first-of-its-kind global marketing partnership that will comprise exclusive performances by established and emerging recording artists, branded video series, social content, music downloads, ticket offers and more. The partnership joins Marriott International’s 19 brands, counting The Ritz-Carlton, EDITION, JW Marriott, Renaissance and Marriott Hotels, with illustrious UMG music labels such as Capitol Music Group, Def Jam Recordings, Interscope Geffen A&M, Island Records, Republic Records and UMG Nashville.
Marriott and UMG are setting out to engage a new generation of experience-seekers, travelers and music fans to deliver unique #WithTheBand experiences. Starting this summer, the partnership will premiere live performances for hotel guests at select properties across Marriott International’s portfolio of brands around the globe. On June 30, 2015, the St. Pancras Renaissance London Hotel will feature a live performance by pop sensation and ‘The Voice Australia’ judge, Jessie J, kicking off a series of exclusive, on-property performances on five different continents.
Marriott International, Inc. operates, franchises, and licenses hotels and timeshare properties worldwide. It operates through three segments: North American Full-Service, North American Limited-Service, and International. The company also licenses the development, operation, marketing, sale, and administration of vacation ownership and related products under the Marriott Vacation Club, Grand Residences by Marriott, The Ritz-Carlton Destination Club, and The Ritz-Carlton Residences brands to the Marriott Vacations Worldwide Corporation.
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