On Wednesday, TerraForm Power Inc (NASDAQ:TERP)’s shares inclined 0.79% to $39.49.
TerraForm Power Inc (TERP) declared that it has commenced a $500 million underwritten public offering of shares of its Class A common stock. TerraForm Power has also granted the underwriters a 30-day option to purchase additional shares of its Class A common stock. TerraForm Power intends to use the net proceeds from the offering, together with the net proceeds of its recently accomplished offering of $150 million of its senior notes due 2023, to (a) repay amounts outstanding on its revolving credit facility, which amounts were used to fund formerly declared acquisitions counting Canadian solar plant acquisitions from Invenergy and Moose Power and the acquisition of certain solar generation facilities from a wholly-owned partner of Integrys Energy Group, Inc., and (b) for general corporate purposes, which may comprise the funding of future acquisitions from its sponsor (SunEdison, Inc.) (SUNE), future acquisitions from third parties, and/or debt repayment. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be accomplished, or as to the size or terms of the offering.
TerraForm Power, Inc. owns and operates solar and wind generation assets serving utility, commercial, and residential customers. As of February 20, 2015, its portfolio compriseed of solar and wind projects located in the United States, Canada, the United Kingdom, and Chile with an aggregate nameplate capacity of 1,507.3 megawatt. The company was formerly known as SunEdison Yieldco, Inc. and changed its name to TerraForm Power, Inc. in May 2014. The company was founded in 2014 and is based in Bethesda, Maryland. TerraForm Power, Inc. is a partner of SunEdison, Inc.
Accenture Plc (NYSE:ACN)’s shares dropped -0.46% to $97.80.
Accenture Plc (ACN) declared the acquisition of Brightstep — a provider of digital content and commerce solutions. The move is part of Accenture’s efforts to enhance its digital marketing capabilities. However, the company has not revealed the terms of the deal.
Based in Stockholm, Sweden, Brightstep was formed in 2001. Brightstep provides brand e-commerce and digital marketing services. Apart from this, its portfolio comprises technology development, and design and usability services. Furthermore, it provides services to improve the brand identity of its clients on the digital platform and enhance their online presence.
The acquisition will assist Accenture’s clients gain access to a greater number of professionals specializing in digital e-commerce solutions from Intershop, hybris software and Adobe.
Brightstep will join the Accenture Interactive platform, a part of the company’s digital marketing-services arm, Accenture Digital. Accenture Interactive was formed in 2009 to deliver managed consulting, technology and analytics services to chief marketing officers (CMOs).
Accenture plc provides administration consulting, technology, and business process outsourcing services worldwide. The company’s Communications, Media & Technology segment offers enterprise and industry-customized services in network engineering and integration, field force enablement, and IP network migration; provides online customer and enterprise relationship administration services; and assists customers in developing video-over-IP platforms, and transforming legacy broadcast platforms to digital.
At the end of Wednesday’s trade, Radian Group Inc (NYSE:RDN)‘s shares dipped -1.11% to $18.66.
Radian Group Inc (RDN) accomplished its formerly declared underwritten public offering of $350 million principal amount of 5.250% Senior Notes due 2020 (the “Notes,” and the offering, the “Offering”). In connection with the Offering, on June 16, 2015, the Company reached an underwriting agreement (the “Underwriting Agreement”) with Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Deutsche Bank Securities Inc., as representatives of the several underwriters named on Plan A thereto (the “Underwriters”), regardingthe sale by the Company of its Notes. The Underwriting Agreement contains other terms and conditions, counting indemnification rights and obligations of the parties thereto, that are generally customary for transactions of this nature.
The net proceeds from the sale of the Notes, after underwriting discounts and commissions and estimated offering expenses, were about $343,503,000. The Company is using a portion of the net proceeds from the Offering, together with shares of its common stock, to purchase an aggregate of $389 million principal amount of its 3.000% Convertible Senior Notes due 2017 (the “2017 Convertible Notes”) and thereafter, to repurchase some of the common stock the Company will issue in connection with such purchases, and otherwise for general corporate purposes.
Radian Group Inc., through its auxiliaries, provides mortgage and real estate products and services in the United States. It operates through two segments, Mortgage Insurance, and Mortgage and Real Estate Services (MRES). The Mortgage Insurance segment provides credit-related insurance coverage, principally through private mortgage insurance that protects mortgage lenders from all or a portion of default-related losses on residential mortgage loans made to home buyers, in addition to facilitates the sale of these mortgage loans in the secondary mortgage market. It offers primary mortgage insurance coverage on residential first-liens.
Zogenix, Inc. (NASDAQ:ZGNX), ended its Wednesday’s trading session with 0.62% gain, and closed at $1.63.
Zogenix, Inc. (ZGNX) declared that at the annual general meeting of shareholders held earlier recently, shareholders voted to approve a proposal authorizing the board of directors of the Company to amend the Company’s certificate of incorporation to effect a reverse stock split of Zogenix’s outstanding common shares at an exchange ratio of 1-for-8, and a change in the number of authorized shares of common stock to 50,000,000 shares. Zogenix’s board of directors had formerly directed that the proposal be presented to the shareholders for approval and has subsequently determined that the reverse stock split will take effect on July 1, 2015. Starting with the opening of trading on July 1, 2015, the Company’s common stock will trade on a split-adjusted basis.
Zogenix, Inc., a pharmaceutical company, develops and commercializes therapies for the treatment of central nervous system disorders in the United States. Its marketed product comprises Zohydro ER, an extended-release formulation of hydrocodone for the treatment of severe chronic pain. The company also develops ZX008, a low-dose fenfluramine for the treatment of Dravet syndrome; and Relday, an injectable formulation of risperidone that is in Phase Ib clinical trial to treat the symptoms of schizophrenia and bipolar disorder in adults and teenagers with 13 years of age and older.
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