On Monday, Warren Resources, Inc. (NASDAQ:WRES)’s shares declined -17.72% to $0.379.
Warren Resources, Inc. (WRES) declared that it has commenced a registered exchange offer to exchange up to $230,410,000 of its outstanding 9.00% Senior Notes due 2022, which were formerly issued in a private placement (the “Private Notes”), for an aggregate principal amount of up to $230,410,000 in new 9.00% Senior Notes due 2022, which have been registered under the Securities Act of 1933, as amended (the “Exchange Notes”).
The sole purpose of the exchange offer is to fulfill the Company’s obligations with respect to the registration of the Private Notes. Following the registration rights agreement reached by the Company in connection with the sale of the Private Notes, the Company agreed to file with the Securities and Exchange Commission a registration statement regarding an exchange offer following which Exchange Notes, containing substantially identical terms to the Private Notes, would be offered in exchange for Private Notes that are tendered by the holders of those notes (the “Exchange Offer”).
Warren Resources, Inc., an independent energy company, engages in the exploration, development, and production of domestic onshore crude oil and gas reserves. The company primarily focuses on the exploration and development of waterflood oil recovery projects in the Wilmington field within the Los Angeles Basin of California; Marcellus Shale project in northeastern Pennsylvania; and coalbed methane natural gas properties located in the Rocky Mountain region.
Cytori Therapeutics Inc (NASDAQ:CYTX)’s shares dropped -4.88% to $0.530.
Cytori Therapeutics (CYTX) declared recently that enrollment has been accomplished in its US Phase IIb Osteoarthritis trial. The ACT-OA trial is a double-blind randomized, placebo-controlled trial evaluating the safety, feasibility and dosing of intraarticular administration of Cytori’s ECCO-50 cellular therapeutic in patients with knee osteoarthritis. A total of 94 patients were enrolled as of June 12, 2015.
The availability of safety and efficacy data in Q1 2016 will lead to informed decisions and talk about with the FDA regarding the study design and size of an osteoarthritis Phase III program with Cytori Cell Therapy.
Osteoarthritis is a disease of the entire joint involving the cartilage, joint lining, ligaments, and underlying bone. The breakdown of tissue leads to pain, joint stiffness and reduced function. It is the most common form of arthritis and affects an estimated 26.9 million US adults.1 Current treatments comprise physical therapy, non-steroidal anti-inflammatory medications, viscosupplement injections, and total knee replacement. The American Academy of Orthopedic Surgeon’s guidelines for the treatment of osteoarthritis of the knee noted that there were few non-surgical treatments that could be recommended2, which highlights the potential for Cytori Cell Therapy to address a large inadequately addressed medical need.
Cytori Therapeutics, Inc., a biotechnology company, develops cell therapeutics for specific diseases and medical conditions. The company primarily provides Cytori Cell Therapy comprising of a heterogeneous population of specialized cells, counting stem cells for the treatment of patients with scleroderma hand dysfunction, orthopedic disorders, cardiovascular disease, urinary incontinence, and thermal burns combined with radiation injury.
At the end of Monday’s trade, Amphenol Corporation (NYSE:APH)‘s shares dipped -1.70% to $56.02.
Silver Standard Resources Inc. (SSRI) provides an exploration update for recent Mineral Resource development activities at its Marigold mine (“Marigold”) in Nevada, U.S.
Highlights:
- Mineral Resource development drilling at 8 South pit area extends higher-grade gold mineralization. Drillhole MR-6034 intersected 2.48 grams per tonne gold over 91.4 metres from 140.2 metres below surface, as formerly stated.
- Mineral Resource development drilling identified a new mineralized structure northwest of the 8 South pit. Drillhole MRA-6104 intersected 1.18 grams per tonne gold over 56.4 metres from 221.0 metres below surface.
- Accomplished assay program of historical drillholes to enhance Mineral Resources and Mineral Reserves estimates for the Mackay Phase 3 pit. Results are predictable in the third quarter of 2015. The assay program for the remaining life of mine is ongoing and results will be stated in 2015 and 2016 as they become accessible.
Silver Standard Resources Inc. engages in the acquisition, exploration, development, and operation of precious metal mineral properties in the Americas. The company primarily explores for silver, gold, zinc, and lead deposits. Its principal projects comprise the Pirquitas mine compriseing of 50 semi-contiguous mineral exploration concessions covering a total area of 3,621 hectares located in the Puna de Jujeña region of northwestern Argentina in the province of Jujuy; and Marigold mine comprising about 19,560 acres situated in southeastern Humboldt County, Nevada.
Iron Mountain Inc (NYSE:IRM), ended its Monday’s trading session with -1.01% loss, and closed at $31.23.
Iron Mountain Incorporated (IRM), the storage and information administration services company, declared that it has closed the refinancing of its existing revolving credit facility of $1.5 billion and its existing $250 million term loan with a syndicate of 25 banks. Additionally, an accordion feature allows the company to request an enhance in the aggregate amount accessible to be borrowed under the refinanced revolving credit facility or term loan by up to $500 million, for a total of $2.25 billion of availability, subject to certain conditions and additional lender commitments. Proceeds are predictable to be used to repay amounts outstanding under the company’s existing revolving credit facility and term loan and for general corporate purposes. Funds may be drawn in U.S. dollars, Canadian dollars, British pounds sterling, and Euros, among other currencies. The credit facility is planned to mature in July 2019 with a one-year extension option solely at the company’s discretion (subject to customary conditions). Pricing under the credit facility was reduced; the applicable margins are now at 100-200 basis points (which varies based on certain financial ratios and loan types) and underlying rates are based upon the company’s choice of loan types and currency options.
Iron Mountain Incorporated, a real estate investment trust, provides storage and information administration services in North America, Europe, Latin America, and the Asia Pacific. It operates through North American Records and Information Administration Business, North American Data Administration Business, Western European Business, Other International Business, and Corporate and Other Business.
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