On Friday, Lam Research Corporation (NASDAQ:LRCX)’s shares declined -1.04% to $82.86.
Lam Research Corporation (LRCX) declared it will host an investor and analyst meeting in San Francisco on Tuesday, July 14, 2015, from 9:00 a.m. to 11:00 a.m. Pacific Time at the Park Central Hotel (formerly known as the Westin San Francisco Market Street). The meeting, which coincides with SEMICON® West 2015, will serve as a general update for investors and analysts on Lam’s strategy and operations. A live webcast and replay of the meeting will be accessible to the public on the Investors section of the company’s website.
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing systems used in the fabrication of integrated circuits. The company provides thin film deposition products, counting SABRE Product Family for copper damascene manufacturing; ALTUS systems deposit conformal atomic layer films for tungsten metallization applications; VECTOR family of plasma-improved chemical vapor deposition systems for the deposition of ashable hardmasks, oxides, nitrides, carbides, and anti-reflective layers; SPEED high-density plasma-chemical vapor deposition products for applications in STI, pre-metal dielectrics, inter-layer dielectrics, inter-metal dielectrics, and passivation layers; and SOLA ultraviolet thermal processing product family for the treatment of back-end-of-line low-k dielectric films and front-end-of-line silicon nitride strained films.
Ignyta Inc (NASDAQ:RXDX)’s shares dropped -4.23% to $15.17.
Ignyta, Inc. (RXDX), a precision oncology biotechnology company, declared that it has commenced an underwritten public offering to sell about $75 million of its common stock. In connection with this offering, Ignyta will grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering. The offering is subject to market conditions, and there can be no assurances as to whether or when the offering may be accomplished, or as to the actual size or terms of the offering.
Ignyta anticipates using the net proceeds from the offering to fund research and development activities for its development programs and for working capital and general corporate purposes.
Credit Suisse Securities (USA) LLC, Jefferies LLC, Leerink Partners LLC and Piper Jaffray & Co. are acting as joint book-running managers for the offering and Cantor Fitzgerald & Co. and Ladenburg Thalmann & Co. Inc. are acting as co-managers.
Ignyta, Inc., a precision oncology biotechnology company, engages in discovering or acquiring, developing, and commercializing new drugs for cancer patients. Its products pipeline comprises of entrectinib, a tyrosine kinase inhibitor directed to the Trk family tyrosine kinase receptors, ROS1, and ALK proteins, which is in two Phase I/II clinical studies in molecularly defined patient populations for the treatment of solid tumors; and RXDX-103, a development program targeting the cell division cycle 7-related and protein kinase.
At the end of Friday’s trade, EMCORE Corporation (NASDAQ:EMKR)‘s shares dipped -3.47% to $6.12.
EMCORE Corporation (EMKR) declared the final results of its modified “Dutch auction” tender offer, which expired at 5:00 P.M., New York City time, on June 15, 2015.
The Company recently accepted for purchase 6,870,229 shares of EMCORE common stock at a purchase price of $6.55 per share, for a total aggregate cost of about $45 million, not taking into account fees and expenses related to the tender offer.
Based on the final count by American Stock Transfer & Trust Company, LLC, the depositary for the tender offer, a total of 8,771,526 shares of EMCORE common stock were properly tendered and not properly withdrawn at or below $6.55 per share. Due to the tender offer being oversubscribed, the Company purchased only a prorated portion of those shares properly tendered by each tendering shareholder (other than “odd lot” holders whose shares were purchased on a priority basis) at or below the final per share purchase price. The Company has been informed by the depositary for the tender offer that the final proration factor for the tender offer was about 78.32%. The 6,870,229 shares accepted for purchase in the tender offer represent about 21.19% of the Company’s presently issued and outstanding shares of common stock.
EMCORE Corporation, together with its auxiliaries, provides compound semiconductor-based components, subsystems, and systems for the fiber optics market. It offers optical components, subsystems, and systems for high-speed telecommunications, cable television, and wireless and fiber-to-the-premise networks, in addition to offers products for satellite communications, video transport, and specialty photonics technologies for defense and homeland security applications.
Hess Corp. (NYSE:HES), ended its Friday’s trading session with 0.82% gain, and closed at $68.59.
Hess Corporation (HES) (the “Company”) declared recently that it has agreed to sell a 50 percent interest in its Bakken midstream assets to Global Infrastructure Partners, a leading global infrastructure investor with an extensive midstream energy investment track record, for cash consideration of $2.675 billion. Hess and Global Infrastructure Partners will create a premier midstream joint venture – Hess Infrastructure Partners. Upon closing, the joint venture will incur $600 million of debt through a 5-year Term Loan A facility with proceeds distributed equally to both partners, resulting in total after-tax cash proceeds, net to Hess, of $3.0 billion. In addition the joint venture will have independent access to capital counting a $400 million 5-year Senior Revolving Credit Facility, which is fully committed. The joint venture upon closing plans to continue to pursue a projected initial public offering (IPO) of Hess Midstream Partners LP common units.
Hess Corporation, an exploration and production company, develops, produces, purchases, transports, and sells crude oil, natural gas liquids, and natural gas. The company primarily operates in the United States, Denmark, Equatorial Guinea, the Joint Development Area of Malaysia/Thailand, Malaysia, and Norway. As of December 31, 2014, it had total proved reserves of 1,431 million barrels of oil equivalent. The company was founded in 1920 and is headquartered in New York, New York.
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