On Friday, Avis Budget Group Inc. (NASDAQ:CAR)’s shares inclined 1.00% to $46.30.
Avis Budget Group, Inc. (CAR) declared that it has reached an expanded, new multi-year partnership marketing agreement with Southwest Airlines (LUV) which will enable the Company to promote Avis Car Rental, Budget Car Rental and Payless Car Rental offers, products and services to Southwest customers. Southwest Airlines flies more than 100 million passengers per year, and Avis Budget Group provides travelers with more than 100 million vehicle rental days per year.
As part of the new agreement, Avis, Budget and Payless will have advertising placement on the Southwest Airlines website in addition to merchandising placement throughout the airline reservation process. The car rental brands will also be featured on airline confirmation pages and pre-trip emails to customers. Special car rental discount offers, such as bonus Rapid Rewards(R) credits for accomplished rentals will also be presented on southwest.com.
Avis Budget Group, Inc., together with its auxiliaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers worldwide. The company has three segments: North America, International, and Truck Rental. It operates the Avis car rental system with about 5,450 locations, that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget vehicle rental system with about 3,500 car rental locations, which serve the value-conscious segments of the industry; and Zipcar, a membership-based car sharing network that provides vehicles to about 915,000 members.
Impax Laboratories Inc (NASDAQ:IPXL)’s shares dropped -1.64% to $46.09.
Impax Laboratories, Inc. (IPXL) priced $500,000,000 aggregate principal amount of 2.00% convertible senior notes due 2022 (the “notes”) in a private offering to qualified institutional buyers following Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The notes will be the Company’s senior unsecured obligations. In connection with the offering, the Company has granted the initial purchasers an option to purchase up to an additional $100,000,000 aggregate principal amount of such notes.
The notes will bear interest at a rate of 2.00% per year payable semiannually in arrears on June 15 and December 15 of each year, starting December 15, 2015. The notes will mature on June 15, 2022, unless repurchased or converted in accordance with their terms prior to such date. The notes will be convertible at the option of the holder any time prior to the close of business on the business day right away preceding December 15, 2021 only upon satisfaction of certain conditions and during certain periods, into cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at the Company’s election in the manner and subject to the terms and conditions offered in the indenture governing the notes. On or after December 15, 2021 until the close of business on the second planned trading day right away preceding the maturity date, holders may convert their notes at any time. The Company’s ability to elect to deliver shares of the Company’s common stock upon conversion is subject to the Company obtaining stockholder approval to enhance the number of shares of the Company’s common stock authorized for issuance. Holders of the notes will have the right to require the Company to repurchase all or some of their notes at 100% of their principal amount, plus any accrued and unpaid interest, upon the occurrence of certain “fundamental change” events. The conversion rate will initially be 15.7858 shares of common stock per $1,000 principal amount of notes (equivalent to an initial conversion price of about $63.35 per share of common stock). The initial conversion price of the notes represents a premium of about 32.5% to the $47.81 per share closing price of the Company’s common stock on June 24, 2015. The sale of the notes is predictable to close June 30, 2015, subject to customary closing conditions.
Impax Laboratories, Inc., a specialty pharmaceutical company, develops, manufactures, and markets bioequivalent pharmaceutical products. It operates in two segments, Global Pharmaceuticals Division and Impax Pharmaceuticals Division.
At the end of Friday’s trade, CyrusOne Inc (NASDAQ:CONE)‘s shares surged 0.30% to $30.05.
CyrusOne Inc. (CONE) has closed a public offering of 12,995,000 shares of its common stock, which comprised of 1,695,000 shares of common stock sold following the option granted to the underwriters by CyrusOne, which was exercised prior to the closing, at a price to the public of $30.00 per share.
Citigroup, Goldman, Sachs & Co., Morgan Stanley, KeyBanc Capital Markets, Barclays, J.P. Morgan, Deutsche Bank Securities, RBC Capital Markets, TD Securities and Jefferies acted as joint-bookrunners for the offering. Stifel, SunTrust Robinson Humphrey and Raymond James acted as co-managers for the offering.
CyrusOne Inc., a real estate investment trust (REIT), owns, operates, and develops enterprise-class, carrier-neutral, and multi-tenant data center properties. The company provides mission-critical data center facilities that protect and ensure the continued operation of information technology infrastructure. Its customers operate in various industries, counting energy, oil and gas, mining, medical, technology, finance, and consumer goods and services.
Female Health Co (NASDAQ:FHCO), ended its Friday’s trading session with -4.91% loss, and closed at $2.13.
The Female Health Company (FHCO) declared that, through its distributor in the Republic of South Africa, Barrs Medical (Pty) Ltd., it has received an award from the most recent tender representing up to 11 million units.
The award represents about 20% of the total tender,” stated Karen King, President and CEO of the Female Health Company. While the Company was awarded a similar percentage in the 2013 tender, it subsequently delivered volumes representing over 50% of the original total amount of the 2013 tender. They believe that the other suppliers under the previous tender were not able to deliver within the required time frames and, as a result, the actual volumes they shipped were much higher than their initial tender award. They are again prepared to support any required volumes from the South African Ministry of Health during this tender period. FHC has a proven track record of timely supplying a high quality product.
The Female Health Company develops, manufactures, and markets consumer health care products. It offers the FC2 female condom that provides women dual protection against unintended pregnancy and sexually transmitted infections, counting HIV/AIDS. The company sells its products to global agencies, non-government organizations, ministries of health, and other government agencies directly, in addition to through distribution agreements and other arrangements with commercial partners. It operates in South Africa, Angola, Brazil, Uganda, Nigeria, Zimbabwe, Tanzania, the United States, Brazil, Malaysia, the Democratic Republic of the Congo, and internationally.
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