On Thursday, Oxford Lane Capital Corp (NASDAQ:OXLC)’s shares declined -5.30% to $15.20.
Oxford Lane Capital Corp (OXLC) declared that it has priced an underwritten public offering of 1,800,000 shares of its common stock at a public offering price of $15.65 per share, raising about $28.2 million in gross proceeds. The Company has also granted the underwriters a 30-day option to purchase up to an additional 270,000 shares of common stock. The closing of the transaction is subject to customary closing conditions, and the shares are predictable to be delivered on June 9, 2015.
Deutsche Bank Securities Inc. and Ladenburg Thalmann & Co. Inc., a partner of Ladenburg Thalmann Financial Services Inc. (NYSE MKT: LTS), are acting as the joint bookrunning managers for the offering. Maxim Group LLC and National Securities Corporation are acting as co-managers for the offering.
Oxford Lane Capital Corp is a closed-end administration investment company. The company’s investment objective is to maximize its portfolio’s total return and seeks to achieve its investment objective by investing primarily in senior secured loans and the equity and junior debt tranches of collateralized loan obligation (CLO) vehicles. CLOs are special purpose vehicles which are established to originate and manage portfolios of primarily secured loans which meet certain pre-determined criteria.
Workday Inc (NYSE:WDAY)’s shares dropped -3.01% to $78.22.
Workday Inc (WDAY) declared that Mike Stankey has been designated vice chairman and has been elected to the Workday Board of Directors. In addition, Mark Peek and Phil Wilmington have each been promoted to co-president.
In his new role as vice chairman, Mike will focus on expansion into new markets, key customer relationships, external communications, and leadership development. Mark will continue to oversee finance and most aspects of the company’s business operations, and Phil will continue to lead worldwide sales with new responsibility for customer services. Mike, Mark, and Phil report to Workday co-founder and CEO, Aneel Bhusri.
Workday, Inc. provides enterprise cloud applications for finance and human resources in the United States and internationally. It offers applications for customers to manage critical business functions that enable them to optimize their financial and human capital resources.
At the end of Thursday’s trade, Kohl’s Corporation (NYSE:KSS)‘s shares dipped -1.04% to $158.49.
Summerfest is partnering with Kohl’s Department Stores (KSS) for the fifth year to provide families the opportunity to enjoy Kohl’s Family Day and the Kohl’s Captivation Station during Summerfest 2015. The partnership offers educational, fun and creative activities for children of all ages and their families, as well as the opportunity for patrons to gain free admission to the festival.
As part of Kohl’s Family Day, on Sunday, June 28 from Noon – 3 p.m., the first 2,500 patrons who donate three (3) non-perishable food items for kids will receive one (1) FREE Summerfest admission ticket valid for that day. Suggested items include peanut butter, canned fruit and macaroni and cheese. This popular promotion has been successful in raising thousands of pounds of food donations for Hunger Task Force over the years and will once again support the organization.
Kohl’s Corporation operates department stores in the United States. It offers private label, exclusive, and national brand apparel, footwear, accessories, beauty, and home products to children, men, and women customers. The company also sells its products online at Kohls.com and through mobile devices.
Coeur Mining Inc (NYSE:CDE), ended its Thursday’s trading session with 0.91% gain, and closed at $5.52.
Coeur Mining Inc (CDE) Reports Mixed 1Q15 Results.
Coeur Mining reports mixed 1Q15 results
Coeur Mining (CDE) stated 1Q15 revenue of $153 million. It missed consensus estimates by $2.55 million. The company stated net loss of $24.4 million, or $0.24 per share, in 1Q15. This was better than a net loss of $37.5 million, or $0.37 per share, in 4Q14. As a result, it beats the estimates by $0.03 per share. Coeur Mining credited the improved earnings to the decline in AISC (all-in sustaining costs) by 8% from the fourth quarter.
M&A activity
During 1Q15, Coeur Mining accomplished the acquisition of the Wharf gold mine from Goldcorp (GG). It’s predictable to produce 74,000–78,000 gold ounces for the rest of 2015. Meanwhile, the acquisition of Paramount Gold and Silver surged the company-wide reserves by 12%.
Now, Coeur Mining’s Palmarejo reserves total 54 million silver ounces and 876,000 gold ounces. Newmont Mining (NEM) has the second-largest gold reserves in the world totaling 82.2 million ounces. Hecla Mining (HL) had the highest silver reserves in the company’s history at the end of 2014—totaling 173 million ounces. It had gold reserves of 4 million ounces.
Investors can gain exposure to the precious metals industry through gold-backed ETFs like the Market Vectors Gold Miners Index (GDX). Coeur, Newmont, and Hecla account for 9% of GDX’s holdings.
Coeur Mining, Inc., through its auxiliaries, engages in the ownership, operation, exploration, and development of silver and gold mining properties primarily in the United States, Mexico, Bolivia, Argentina, Australia, Ecuador, Chile, and New Zealand. Its principal properties comprise the Palmarejo silver and gold mine in Mexico; San Bartolomé silver mine in Bolivia; Kensington gold mine located in Alaska; the Rochester silver and gold mine in Nevada; and the Endeavor mine, an underground zinc, lead, and silver mine in Australia.
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