On Tuesday, Shares of AT&T, Inc. (NYSE:T), gained 0.49% to $34.93.
AT&T declared that the company’s fourth-quarter 2015 results will be released after the New York Stock Exchange closes on Tuesday, January 26, 2016. At 4:30 p.m. ET the same day, AT&T will host a conference call to discuss the results. The company’s earnings release, Investor Briefing and related materials will be available at AT&T Investor Relations before the conference call starts.
AT&T Inc. provides telecommunications services in the United States and internationally. The company operates through two segments, Wireless and Wireline. The Wireless segment offers data and voice services, counting local, long-distance, and network access services, in addition to roaming services to youth, family, professionals, small businesses, government, and business customers.
Shares of Great Basin Scientific, Inc. (NASDAQ:GBSN), declined -16.55% to $1.16, during its last trading session.
Great Basin Scientific declared the Company has reached a securities purchase agreement with institutional investors to issue $22.1 million of senior convertible notes (the “Notes”) and related common stock purchase warrants for gross aggregate proceeds of $18.4 million that will be used to fund the Company’s ongoing operations. In addition, certain Series C Warrant holders who are participating in the Notes, are also exchanging 1,050,000 of their warrants at a deemed value of $2.00 for $2.1 million of senior convertible notes.
The cash component of the transaction will be structured as Original Issue Discount (“OID”) convertible notes, and under the terms of the senior convertible note agreement no additional interest will accrue during the duration of the Notes. The interest discount will be applied to each issuance of principal, yielding $4.6 million in gross proceeds per tranche. The initial tranche of $4.6 million, before deducting costs of the offering and fees payable to a placement agent in relation to the offering, is predictable to close on or around December 30, 2015 subject to the Company obtaining all necessary regulatory approvals counting the approval of NASDAQ. Under the terms of the Note, the Company will make no payments during the first four months. After this initial four month period, the Notes will amortize on a straight line basis over 12 months. The Notes’ principal may be repaid, at the Company’s election, in either cash or, subject to certain conditions, shares of the Company’s common stock at a discount to the then-current market price.
Great Basin Scientific, Inc., a molecular diagnostic testing company, doing business as Great Basin Corporation, develops and commercializes molecular diagnostic systems that are designed to test hospital-attained infections. The company’s platform provides C. diff test, a rapid medical diagnostic test for the detection of C. diff, a gram-positive bacteria that causes severe diarrhea and other intestinal disorders.
Finally, Axiall Corporation (NYSE:AXLL), ended its last trade with 2.32% gain, and closed at $15.44.
Axiall Corporation and Lotte Chemical Corporation (011170.KS) of the Republic of Korea recently declared that the companies have reached a final investment decision to construct an ethane-based ethylene plant in Lake Charles, La. that would be predictable to produce about one million metric tons of ethylene annually. The plant will provide partial backward integration for Axiall’s vinyls business and will supply a new monoethylene glycol (MEG) facility being built by Lotte, adjacent to the new ethylene plant.
The state-of-the-art steam cracking facility will be built by LACC LLC, the joint-venture company recently formed by Axiall and Lotte, adjacent to Axiall’s largest chlor-alkali chemical facility, located in Lake Charles, to take advantage of Axiall’s existing infrastructure, access to competitive feedstock resources, and ethylene distribution infrastructure. The facility’s anticipated start-up would be the starting of 2019.
CB&I has been chosen to execute the main steam cracker contract, using its proprietary technology, following successful completion of front-end engineering and design, and other early-stage engineering works. LACC will engage a number of other firms to execute ancillary offsite facilities developments and tie-ins to existing infrastructure. Work began in the fourth quarter of 2015 to clear and prepare the site ahead of construction, which is planned to start in the second quarter of 2016.
Axiall Corporation manufactures and markets chemicals and building products in the United States and internationally. The company operates through three segments: Chlorovinyls, Building Products, and Aromatics. The Chlorovinyls segment produces chlor-alkali and derivative products, counting chlorine, caustic soda, vinyl chloride monomer, and vinyl resins; other chlor-alkali and derivative products comprising chlorinated ethylene, calcium hypochlorite, hydrochloric acid, and phosgene derivatives; and compound products, such as vinyl compounds, and compound additives and plasticizers.
