On Wednesday, Pernix Therapeutics Holdings Inc (NASDAQ:PTX)’s shares declined -0.85% to $4.65.
Pernix Therapeutics Holdings, Inc. (PTX) a specialty pharmaceutical company, declared the completion of a new three-year $50 million revolving credit facility with Wells Fargo. The new facility bears an interest rate of LIBOR plus 1.5% to LIBOR plus 2.0% as compared to the Company’s preceding revolving credit facility of LIBOR plus 7.5% with a 1.5% LIBOR floor, and is a substantial interest rate reduction.
The new revolving credit facility may be used for general corporate in addition to planned purposes, and is planned to mature in August 2018. As of June 30, 2015, Pernix had $7.9 million in outstanding borrowings under the Company’s previous revolver.
Pernix Therapeutics Holdings, Inc., a specialty pharmaceutical company, develops, manufactures, markets, and sells branded and generic pharmaceutical products. The company’s product comprise CEDAX, an oral cephalosporin used for the treatment of mild to moderate acute bacterial exacerbations of chronic bronchitis, middle ear infection due to haemophilus influenza, or streptococcus pyogene; Zutripro, Rezira, and Vituz for the relief of cough and nasal congestion; and OMECLAMOX-PAK a gastroenterology product.
Sarepta Therapeutics Inc (NASDAQ:SRPT)’s shares gained 4.77% to $36.89.
Sarepta Therapeutics, Inc. (SRPT), a developer of innovative RNA-targeted therapeutics, granted equity awards on August 31, 2015, that were formerly approved by the Compensation Committee of its Board of Directors under Sarepta’s 2014 Employment Commencement Incentive Plan, as a material inducement to employment to nine individuals hired by Sarepta in August 2015. The equity awards were approved in accordance with NASDAQ Listing Rule 5635(c)(4).
The employees received, in the aggregate, options to purchase 88,000 shares of Sarepta’s common stock. The options have an exercise price of $35.70 per share, which is equal to the closing price of Sarepta’s common stock on August 31, 2015. One-fourth of the shares underlying each employee’s option will vest on the one year anniversary of his or her date of hire and thereafter 1/48th of the shares underlying each employee’s option will vest monthly, such that the shares underlying the option granted to each employee will be fully vested on the fourth anniversary of his or her date of hire, in each case, subject to each such employee’s continued employment with Sarepta on such vesting dates.
Sarepta Therapeutics, Inc., a biopharmaceutical company, focuses on the discovery and development of RNA-based therapeutics for the treatment of rare, infectious, and other diseases. Its lead product candidate is Eteplirsen, an antisense phosphorodiamidate morpholino oligomer therapeutic, which is in Phase III clinical development stage for the treatment of individuals with Duchenne muscular dystrophy (DMD), a rare genetic muscle-wasting disease caused by the absence of dystrophin.
At the end of Wednesday’s trade, Kansas City Southern (NYSE:KSU)‘s shares surged 1.93% to $91.47.
Kansas City Southern (KCS) (KSU) Executive Vice President & Chief Financial Officer, Michael Upchurch, will address two conferences in September. Interested investors not attending the conference may listen to the presentation via a simultaneous webcast on KCS’ website at www.kcsouthern.com. A link to the replay will be accessible following the event.
Mr. Upchurch will address the Cowen and Company Global Transportation Conference at 9:20 a.m. eastern time on Wednesday, September 9, 2015.
Mr. Upchurch will address the Citi Industrials Conference at 3:30 p.m. eastern time on Wednesday, September 16, 2015.
Kansas City Southern, through its auxiliaries, engages in the freight rail transportation business. It operates north/south rail route between Kansas City, Missouri, and various ports along the Gulf of Mexico in Alabama, Louisiana, Mississippi, and Texas in the midwest and southeast regions of the United States.
Advanced Semiconductor Engineering (ADR) (NYSE:ASX), ended its Wednesday’s trading session with 1.90% gain, and closed at $4.83.
Advanced Semiconductor Engineering, Inc. (TAIEX: 2311, NYSE: ASX) (“ASE” or “we”) recently acknowledged the declarement made public recently by Siliconware Precision Electronics Co, Ltd. (“SPIL”) in response to ASE’s tender offer of NT$45 per common share for up to 779,000,000 common shares of SPIL (counting the common shares represented by American depositary shares) made starting from August 24, 2015 (the “Tender Offer”) and the hasty declarement made by SPIL regarding the entering into a letter of intent between SPIL and Hon Hai Precision Industry Co., Ltd. (“Hon Hai”) in connection with their planned alliance (“Hon Hai Deal”).
The Tender Offer will continue to proceed in Taiwan and in the U.S. following the applicable rules and regulations, and will not be affected by the Hon Hai Deal declarement.
Based upon the extremely limited information contained in SPIL’s declarement, SPIL has in a four day time period agreed a major transaction with Hon Hai. At no point after commencement of ASE’s bid did SPIL make any effort to determine whether there were possible basis on which ASE’s bid could be acceptable to SPIL. Instead, SPIL has crafted a substantially similar investment structure with Hon Hai, except that it offers zero cash to SPIL’s shareholders, and appears to place an implied value for SPIL of NT$37.86 per common share, contrast to ASE’s cash offer price of NT$45 per common share. It is also a discount to SPIL’s current market price. This is difficult to reconcile with the views of SPIL’s certificated public accountant concerning the reasonable valuation range for SPIL’s shares.
Advanced Semiconductor Engineering, Inc. provides semiconductor packaging and testing services in the United States, Taiwan, Asia, Europe, and internationally. It operates through Packaging, Testing, and Electronic Manufacturing Services (EMS) segments. The Packaging segment offers packages, such as flip-chip ball grid array (BGA), flip-chip chip scale package, advanced chip scale packages, and IC wirebonding packages, counting lead frame-based package types, such as quad flat packages, thin quad flat packages, bump chip carrier and quad flat no-lead (QFN) packages, and advanced QFN; 3D chip packages; stacked die solutions in various package types, such as stacked die quad flat no-lead, hybrid BGAs containing stacked wire bond, and fc die; and copper wire and silver bonding solutions, in addition to module assembly services, and interconnect materials. The Testing segment provides a range of semiconductor testing services, counting front-end test engineering testing, wafer probing, logic/mixed-signal/RF/module system-in-package/discrete final testing services, other test related services, and drop shipment services.
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