On Thursday, in the course of Afternoon trade, Shares of Shake Shack Inc (NYSE:SHAK), dropped -1.69%, and is now trading at $52.25.
Shake Shack Inc., declared the pricing of a secondary offering of 4,000,000 shares of its Class A common stock by certain of the Company’s stockholders (the “Selling Stockholders”) at a price of $60.00 per share. In addition, the Selling Stockholders have granted the underwriters a 30-day option to purchase up to 600,000 additional shares of the Company’s Class A common stock at the public offering price. All of the shares in the offering were offered by the Selling Stockholders and the Company will not receive any proceeds from the sale of these shares by the Selling Stockholders. The closing of the offering is predictable to occur on August 18, 2015, subject to the satisfaction of customary closing conditions.
J.P. Morgan Securities LLC is acting as sole lead book-running manager in the offering. Morgan Stanley & Co. LLC, Barclays Capital Inc., Goldman, Sachs & Co., Jefferies LLC, William Blair & Company, L.L.C. and Stifel are acting as book-running managers in the offering.
Shake Shack Inc. owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States, the District of Columbia, North America, Europe, and Asia. Shacks offers hamburgers, hot dogs, crinkle-cut fries, shakes, frozen custard, beer, and wine.
During an Afternoon trade, Shares of Tesoro Corporation (NYSE:TSO), dipped -0.96%, and is now trading at $103.94.
Tesoro Corporation, released its 2014 Social Responsibility Report that outlines the Company’s performance, approach and commitment to social and environmental responsibility. The report demonstrates Tesoro’s commitment to operating in a responsible manner while creating shared value for shareholders, employees, customers and the communities where it operates.
“2014 was a pivotal year for Tesoro. We achieved our best safety record for the Company and we made noteworthystrides in the implementation of Shared Value - a systematic approach to making business decisions that create value not only for our business, but also for our stakeholders,” said Greg Goff Chairman, President and Chief Executive Officer.
Tesoro Corporation, through its auxiliaries, engages in petroleum refining and marketing activities in the United States. It operates in three segments: Refining, Tesoro Logistics LP (TLLP), and Retail.
Shares of Cempra Inc (NASDAQ:CEMP), during its Thursday’s current trading session fell -6.77%, and is now trading at $36.10.
Cempra, stated financial results for the quarter ended June 30, 2015 and offered an update on recent corporate developments. The company will host a webcast and conference call at 4:30 p.m. EDT.
Second Quarter 2015 and Recent Corporate Highlights
In April 2015, abstracts and select data from clinical and scientific studies of solithromycin were presented by investigators at the European Congress of Clinical Microbiology (ECCMID) in Copenhagen, Denmark. Two additional studies were presented on Cempra’s other principal development compound, Taksta(TM) (fusidic acid). Cempra also made a presentation on solithromycin at the 2015 Pediatric Academic Societies (PAS) Annual Meeting in San Diego. This pediatric study was funded by the Biomedical Advanced Research Development Authority (BARDA).
In May 2015, investigators presented results from the Phase 3 oral solithromycin clinical trial conducted in patients with community attained bacterial pneumonia (CABP) at the American Thoracic Society meeting in Denver. Oral solithromycin demonstrated statistical non-inferiority to oral moxifloxacin for the treatment of CABP and the solithromycin early clinical response (ECR) and short term follow-up (SFU) rates were numerically higher than moxifloxacin in the elderly, the patients at greatest risk for CABP. Solithromycin was shown to be non-inferior to moxifloxacin on every pre-specified outcome measure in the study and was well tolerated.
In July 2015, Cempra stated completion of patient enrollment in its Phase 3 solithromycin IV clinical trial. The study, Solitaire-IV, is a randomized, double-blind, active-controlled, multi-center global study that enrolled 863 patients of which 25% were classified as PORT Class II, 50% PORT Class III and at least 25% PORT Class IV CABP patients. Patients received intravenous (IV) administration of either 400 mg of solithromycin or 400 mg of moxifloxacin. The primary efficacy objective is non-inferiority of early clinical response at 72 hours in the intent-to-treat (ITT) population.
Cempra, focused on developing antibiotics to meet medical needs in the treatment of bacterial infectious diseases in North America. Its lead product candidates comprise solithromycin (CEM-101), which is in Phase III clinical trials for the treatment of community attained bacterial pneumonia, in addition to for uncomplicated bacterial urethritis; and Taksta (CEM-102), an antibiotic that has accomplished Phase II clinical trials for refractory bone and joint infections.
Finally, SolarCity Corp (NASDAQ:SCTY), lost -2.64% Thursday.
SolarCity Corp., accomplished its Solar Asset Backed Notes, Series 2015-1, a securitization of distributed solar energy assets. The notes comprise of a senior class of notes (Class A Notes) in an amount of $103,500,000 aggregate principal amount that will have an interest rate of 4.18% The junior class of notes (Class B Notes) comprises of $20,000,000 aggregate principal amount that will have an interest rate of 5.58%. Both classes of notes have an anticipated repayment date of February 21, 2022.
SolarCity’s senior class of notes (Class A Notes) received an investment grade rating of A from Kroll and junior class of the notes (Class B Notes) received a rating of BBB from Kroll. The rating reflects the predictability and quality of the cash flows and the minimal operation and production risk of solar assets. Distributed solar is one of the first new asset classes to achieve an investment grade rating in the asset back securities markets in the past several years.
This transaction represents the first securitization of distributed solar assets that were originally financed within a tax equity partnership structure, a noteworthydevelopment given the prevalence of partnership structures in the solar industry. Though it has securitized a relatively small percentage of its total assets to date, SolarCity has now accomplished at least one syndication of each of its most common financing structures with an investment grade credit rating.
The Co-Structuring Agents and Joint Bookrunners were Bank of America Merrill Lynch and Credit Suisse and the Co-Manager was Apto Partners, which is a minority owner-dealer based in New Jersey. Inspired by the supplier diversity program at the California Public Utility Commission, SolarCity worked with DBL Partners to find and collaborate with Apto and give a broader range of investors and advisors the opportunity to take part in solar financing.
SolarCity Corporation designs, manufactures, installs, maintains, monitors, leases, and sells solar energy systems to residential, commercial, government, and other customers in the United States.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
