On Friday, WP Glimcher Inc (NYSE:WPG)’s shares declined -0.73% to $13.57.
WP Glimcher Inc (WPG) declared that the Company has reached a new 5-year, $500 million term loan. The Company used the proceeds to fully repay the remainder of the Company’s outstanding bridge loan that was used to finance the January 2015 acquisition of Glimcher Realty Trust and for other general corporate purposes.
The aggregate principal balance of the term loan will be due upon maturity on March 2, 2020. The loan bears interest at LIBOR plus 1.15% based on the Company’s current debt rating. The Company anticipates to fix all or a portion of the variable interest rate exposure on the term loan by entering into an interest swap arrangement in the near term.
Washington Prime Group Inc. (NYSE:WPG.WI) operates independently of Simon Property Group Inc. as of May 28, 2014.
W&T Offshore, (NYSE:WTI)’s shares gained 0.96% to $5.28.
W&T Offshore, (WTI) declared a new discovery at Ewing Banks 910 and first production from the SS #6 well at Mississippi Canyon 538 field (“Medusa”), both in the deepwater of the Gulf of Mexico. The Company also offered an update on the status of the Big Bend and Dantzler deepwater development projects.
W&T made a new discovery at Ewing Banks 910 with the successful drilling and evaluation of the Ewing Banks 910 A-5 ST well. The Company logged 160 feet of gross hydrocarbon interval and is presently concluding the well. We expect recovery from the well to exceed our pre-drill estimates and we anticipate that the well could be online and flowing by the end of the second quarter. W&T has a 50% working interest in this well.
The next well to be drilled at Ewing Banks 910 will be the A-8 exploration well, which based on seismic data, is estimated to be a significantly larger reserve target than the recently successful A-5 ST well. We have additional drilling locations in the area as a result of our ongoing geological and geophysical review of new WAZ seismic data.
The Company declare that the drilled Medusa SS #6 well has been accomplished and achieved first production flowing at a gross rate of about 8,000 barrels of oil and 6 MMcf of natural gas for a combined total rate of 9,000 barrels of oil equivalent per day. A second extension well at Medusa, the SS #7 well, is presently being accomplished. W&T has a 15% working interest in the Medusa field.
W&T Offshore, Inc., an independent oil and natural gas producer, together with its auxiliaries, engages in the acquisition, exploration, and development of oil and natural gas properties primarily in the Gulf of Mexico and onshore in the Permian Basin of West Texas.
At the end of Friday’s trade, NASDAQ OMX Group, Inc. (NASDAQ:NDAQ)‘s shares dipped -1.56% to $50.53.
NASDAQ OMX Group, Inc. (NDAQ) declared that trading of DAVIDsTEA (DTEA) commenced on The Nasdaq Stock Market on June 5, 2015.
Founded in 2008, DAVIDsTEA has grown from a Canadian based company to a global franchise in North America with more than 150 retail outlets. DAVIDsTEA offers over 150 types of tea, counting exclusive blends, limited edition seasonal collections, traditional straight teas and exotic infusions from around the globe. Headquartered in Montreal, Quebec, the company is committed to sustainable business practices and dedicated to longstanding community involvement.
The NASDAQ OMX Group, Inc. provides trading, clearing, exchange technology, regulatory, securities listing, information, and public company services worldwide. It operates in four segments: Market Services, Listing Services, Information Services, and Technology Solutions.
Quantum Corp (NYSE:QTM), ended its Friday’s trading session with 3.59% gain, and closed at $2.02.
Quantum Corp (QTM) has created a purpose built partner, Quantum Anesthesia Administration LLC (“QAM”) to acquire all the common shares of DA Administration Corp. (“DA” “the Transaction”). DA Administration Corp. is an anesthesia company with anesthesia administration contracts at all NYC Surgical Associates (“NYCSA”) facilities in New York , New Jersey and the initial Centers for Special Surgery (“CSS”) facility in Essex County .
Key Benefits:
- Right away adds noteworthy revenues and EBITDA to QIIC’s business
- Synergistic with our facility and procedure growth efforts;
- Anesthesia fees enhance average revenue per patient (ARPP)
The existing revenue and patient base of DA creates a platform for US National Growth as QAM will be focused on managing and providing anesthesia services in facilities owned, managed or associated with QIIC and will also add additional Anesthesia Contracts in markets where QIIC has a market presence.
Thus far in 2015, DA has average monthly run rate of over 100 procedures per month with an average anesthesia fee of about $1,450 per procedure, which right away enhances average revenue per patient (ARPP) at any of QIIC’s facilities. QAM, as an ancillary service provider, will seek to enter into long term contracts with QIIC (up to 10 years) to provide anesthesia services to facilities that QIIC owns or has an affiliation with.
This acquisition furthers QIIC’s business relationship with NYCSA, our partners in CSS. QAM now administers and puts itself in a position to profit on all anesthesia related services in facilities owned, managed or associated with NYCSA and CSS counting Essex County, New Jersey and the pending transaction with Advanced Surgery Center in Rockland , New York. This new anesthesia administration services platform is able to service QIIC’s current needs in the New Jersey and New York State areas and can serve as a national platform for future ASCs and other medical facilities in other markets.
Quantum Corporation provides scale-out storage, archive, and data protection solutions for small businesses to major enterprises in the Americas, Europe, and the Asia Pacific. Its scale-out storage and archive products comprise StorNext File System software, which provides file sharing, storage, and archive for content workflows, digital libraries, and data repositories; StorNext Storage Manager software that automatically copies and migrates data between different tiers of storage based on user-defined policies; StorNext appliances that offer predictable file sharing and in purpose-built configurations of metadata controllers, expansion appliances, and disk and archive enabled libraries; and Lattus Object Storage solutions, which enable high volumes of data to be accessible at any time to extract valuable information.
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