Insights about U.S. Stocks that landed in the Red-Zone during Tuesday’s trade, are depicted underneath:
Nanosphere, Inc (NASDAQ:NSPH)’s shares dwindled - 7.35%, and closed at $0.359, during the last trading session.
Nanosphere, Inc. (NSPH), a corporation enhancing medicine through targeted molecular diagnostics, declared that it will conduct a special meeting of stockholders on Tuesday, April 7, 2015. At the special meeting, stockholders will be asked to approve amendments to Nanosphere’s charter to raise the authorized shares of its ordinary stock from 150 million to 250 million shares, and to effect a reverse stock split of its issued and outstanding ordinary stock with a ratio in a range of between 15-to-1 and 25-to-1 for the purpose of regaining compliance with the $1 minimum bid price requirement of the NASDAQ Capital Market. The board of directors will determine the exact ratio of the reverse stock split within such range, assuming stockholders approve the reverse stock split at the special meeting. Nanosphere’s board of directors has fixed a record date of February 26, 2015 for the special meeting. All stockholders of record as of the close of business on February 26, 2015 shall be entitled to notice of and to vote at the special meeting.
In connection with the special meeting of stockholders, Nanosphere has filed with the Securities and Exchange Commission a definitive proxy statement describing the charter amendments that will be mailed to stockholders on or about Friday, March 6, 2015 to solicit proxies in support of the charter amendments. Nanosphere has engaged MacKenzie Partners, Inc. to serve as its proxy solicitor for the special meeting of stockholder.
Nanosphere is enhancing medicine through targeted molecular diagnostics that result in earlier disease detection, optimal patient treatment and improved healthcare economics. The Corporation’s versatile technology platform, the Verigene (R) System, enables clinicians to rapidly detect the most complex, costly and deadly infectious diseases through a low cost and simple-to-use multiplexed diagnostic test.
Real Goods Solar, Inc (NASDAQ:RGSE) declined - 7.19%, and closed at $0.399.
Real Goods Solar, Inc. (RGSE), one of the nation’s largest and most recognized rooftop installers of solar equipment, has begun a process of reorganization and realignment under a new operational model designed to leverage core strengths while reducing non-core overhead.
RGS Energy will maintain a centralized engineering capability in its Louisville, Colorado headquarters, and will continue to maintain field sales and in-house construction teams on the East Coast. Most of the major changes will focus on its California operations, where it will replace its offices, warehouses, field sales and construction teams in California with greater utilization of call center e-Sales and the corporation’s Authorized Integrator Program for solar installations. The corporation remains strongly committed to California, given the major opportunity, and believes it has a more efficient approach with the new operational model.
The corporation’s reorganization will reduce employee headcount by 30% or 100 positions over the next few months. Severance, lease exit and the associated costs of the restructuring is predictable to be between $140,000 and $240,000, with a non-cash impairment charge for leasehold improvements of about $70,000. The corporation anticipates to complete most of the restructuring in the current first quarter of 2015, with the completion and related charges subject to local labor regulations.
“The foundation of our new operational model focuses on our core strengths of engineering, e-Sales, operations administration and leasing,” noted RGS Energy CEO, Dennis Lacey. “We expect this effort to streamline our operations and lower our fixed operating costs, as we leverage our recently strengthened financial position to address an over $50 million installation backlog.”
RGS Energy (RGSE) is one of the nation’s largest and most recognized rooftop installers of solar equipment, serving residential and small business customers in the mainland U.S. and Hawaii. Startning with one of the very first photovoltaic panels sold in 1978, the corporation has installed tens of thousands of solar power systems.
Biocept Inc (NASDAQ:BIOC), dipped -6.89%, and closed at $3.38.
Biocept, Inc. (BIOC), a molecular oncology diagnostics corporation specializing in biomarker analysis in circulating tumor cell (CTC) and circulating tumor DNA (ctDNA), declared that Michael Nall, Biocept President and CEO, is planned to present a corporate overview at the 27th Annual ROTH Conference on March 11, 2015 at The Ritz-Carlton Hotel in Laguna Niguel, California.
Biocept, Inc., headquartered in San Diego, Calif., is a commercial-stage oncology diagnostics corporation focused on providing information on patients’ tumors to physicians using its proprietary technology platform to assist improve individual patient treatment. Biocept has developed proprietary technology platforms for capture and analysis of circulating tumor DNA, both in circulating tumor cells (CTCs) and in plasma (cell free tumor DNA).
Hercules Technology Growth Capital Inc (NYSE:HTGX), dropped - 0.30%, and closed at $25.03.
Hercules Technology Growth Capital, Inc. (HTGC), the leading specialty finance corporation focused on providing senior secured loans to venture capital-backed companies in technology-related industries, counting technology, biotechnology, life science, and energy & renewable technology, at all stages of development, declared its financial results for the fourth quarter and year ended December 31, 2014.
The Corporation also declared that its Board of Directors has declared a fourth quarter cash dividend of $0.31 per share, that will be payable on March 19, 2015, to shareholders of record as of March 12, 2015; the thirty-eighth successive dividend since inception bringing total dividends declared since inception to $10.30 per share.
“Our strong finish in Q4 capped a record year for Hercules. New originations exceeded $900 million for the year, a record for the corporation, and more importantly, reaching nearly $5 billion in commitments since our December 2003 inception. Moreover, we were especially gratified to see another year of successful portfolio corporation exits from IPO and M&A events, generating over $20 million in net realized gains in 2014,” said Manuel Henriquez, chairman and chief executive officer of Hercules Technology Growth Capital.
Hercules finished the fourth quarter of 2014 with ~$108.2 million in signed non-binding term sheets with eight new and existing companies. Signed non-binding term sheets are subject to satisfactory completion of Hercules’ due diligence and final investment committee approval process in addition to negotiations of definitive documentation with the prospective portfolio companies. These non-binding term sheets generally convert to contractual commitments in about 90 days from signing. It is important to note that not all signed non-binding term sheets are predictable to close and do not necessarily represent future cash requirements or investments.
Hercules Technology Growth Capital, Inc. is a business development corporation specializing in providing venture debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development counting select publicly listed companies and select special opportunity lower middle market companies.
