On Thursday, Shares of Cleveland BioLabs, Inc. (NASDAQ:CBLI), skyrocketed 90.11% to $5.38.
Cleveland BioLabs, declared that it has reached a securities purchase agreement with David Davidovich, a venture capital investor, for the sale of 6,459,948 unregistered common shares at a price of $3.87 per share for an aggregate of $25 million. The offering represents a 35% premium to the closing market price of $2.86 on June 23, 2015 and a 21% premium to the trailing 60-day volume weighted average price, as stated by Bloomberg. The parties expect to close the transaction on or about July 6, 2015.
The Company also declared that NASDAQ has granted the Company’s request for a financial viability exception to the shareholder approval requirements otherwise applicable to this transaction. The Audit Committee of the Company’s Board of Directors, which is comprised solely of independent, disinterested directors, approved the Company’s reliance on the NASDAQ financial viability exception. In accordance with NASDAQ requirements, the Company will mail a letter to stockholders notifying them of its intention to close the transaction without obtaining approval from its stockholders.
Cleveland BioLabs, Inc., a biopharmaceutical company, focuses on developing pharmaceuticals designed to address diseases with unmet medical need. Its lead drug candidate is Entolimod, a Toll-like receptor 5 (TLR5) agonist, which is developing as a radiation countermeasure for prevention of death from acute radiation syndrome, and as an oncology drug.
Shares of Twenty-First Century Fox, Inc. (NASDAQ:FOXA), declined -0.06% to $32.96, during its last trading session.
21st Century Fox (NASDAQ: FOXA, FOX) declared that Roger Ailes has signed a new multi-year contract with the Company to continue to serve as Chairman and CEO of Fox News and Fox Business Network, and Chairman of Fox Television Stations.
The declaration was made by Rupert Murdoch, Lachlan Murdoch and James Murdoch, to whom Mr. Ailes will jointly report.
Twenty-First Century Fox, Inc. operates as a diversified media and entertainment company worldwide. It operates through Cable Network Programming, Television, Filmed Entertainment, and Direct Broadcast Satellite Television segments.
Finally, Investors Bancorp Inc. (NASDAQ:ISBC), ended its last trade with 0.56% gain, and closed at $12.51.
Investors Bancorp, declared that its Board of Directors approved the Company’s second share repurchase program which authorizes the repurchase of an additional 10% of the Company’s outstanding shares of common stock, or about 34 million shares. The new repurchase program will commence right away upon completion of the first repurchase plan declared in March 2015. The Company will repurchase the shares from time to time for cash in open market transactions in accordance with applicable federal securities laws.
Investors Bancorp, Inc. operates as the holding company for Investors Bank that provides various banking products and services for businesses and individuals in the United States.
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