On Thursday, Cowen Group Inc (NASDAQ:COWN)’s shares declined -2.15% to $5.47.
Cowen Group Inc (COWN) declared the pricing of its offering of 105,000 shares of its 5.625% Series A Cumulative Perpetual Convertible Preferred Stock in a private offering to eligible purchasers. The Convertible Preferred Stock is being offered and sold only to qualified institutional buyers following Rule 144A under the Securities Act of 1933, as amended. The Company has also granted the initial purchasers of the Convertible Preferred Stock an option to purchase up to an additional 15,750 shares of Convertible Preferred Stock on the same terms and conditions. The offering is predictable to close on May 19, 2015, subject to customary closing conditions.
The Convertible Preferred Stock has a liquidation preference of $1,000 per share. The Company will pay cumulative dividends, when and if declared, in cash, on the Convertible Preferred Stock on a quarterly basis in arrears at a rate of 5.625% per annum of the $1,000 liquidation preference per share, and the Convertible Preferred Stock will be convertible at the option of the holder into cash, shares of the Company’s Class A common stock or a combination thereof, at the Company’s election, in each case, based on an initial conversion rate of 152.2476 shares of the Company’s Class A common stock per share of the Convertible Preferred Stock (which corresponds to an initial conversion price of about $6.57 per share of the Company’s Class A common stock). The conversion price represents a premium of about 17.5% relative to the NASDAQ closing price of the Company’s Class A common stock on May 13, 2015 of $5.59 per share. Additionally, at any time on or after May 20, 2020, the Company may elect to cause all outstanding shares of the Convertible Preferred Stock to be automatically converted into shares of the Company’s Class A common stock, cash or a combination thereof, at the Company’s election, in each case, based on the then-applicable conversion rate, if the last stated sale price of the Company’s Class A common stock equals or exceeds 150% of the then-current conversion price on at least 20 trading days (whether or not successive) during the period of 30 successive trading days (counting on the last trading day of such period) right away preceding to such election.
Cowen Group, Inc. is a publicly owned asset administration holding company. Through its auxiliaries, the firm provides alternative investment administration, investment banking, research, and sales and trading services for its clients.
Whiting Petroleum Corp (NYSE:WLL)’s shares dropped -33.93% to $2.08.
Whiting Petroleum Corp (WLL) declared that Mark R. Williams, Whiting’s Senior Vice President, Exploration and Development, will present at the UBS Global Oil and Gas Conference at the Four Seasons Hotel Austin in Austin, TX. Mr. William’s presentation will start at 9:15 a.m. Central Daylight Time on Tuesday, May 19, 2015.
Whiting Petroleum Corporation, an independent oil and gas company, acquires, explores, develops, and produces crude oil, natural gas liquids, and natural gas in the Rocky Mountains and Permian Basin regions of the United States.
At the end of Thursday’s trade, Halyard Health Inc (NYSE:HYH)‘s shares dipped -2.2% to $43.10.
Halyard Health Inc (HYH) stated first quarter 2015 results and affirmed its previous guidance for full-year 2015 net sales growth in constant currency and adjusted diluted earnings per share.
Executive Summary
- First quarter 2015 net sales were $394 million, down 4 percent from the same period last year. On a constant currency basis, net sales reduced 2 percent in the period.
- Net income for the first quarter 2015 was $22 million contrast to net income of $41 million in the first quarter of 2014. First quarter adjusted net income was $24 million contrast to adjusted net income of $51 million in the preceding year.
- The first quarter diluted earnings per share were $0.46, contrast to $0.89 diluted earnings per share in the first quarter of 2014. Adjusted diluted earnings per share in the quarter were $0.51, contrast to adjusted diluted earnings per share of $1.09 in the preceding year.
Halyard Health, Inc. provides health and healthcare supplies and solutions worldwide. It operates through two segments, Surgical and Infection Prevention (S&IP), and Medical Devices.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), ended its Thursday’s trading session with -2.01% loss, and closed at $123.00.
Vertex Pharmaceuticals Incorporated (VRTX) declared that Jeffrey Leiden, M.D., Ph.D., Chairman, President & CEO of Vertex will present at the UBS Healthcare Conference in New York, NY on Tuesday, May 19th at 11:00 a.m. ET.
Vertex Pharmaceuticals Incorporated engages in discovering, developing, manufacturing, and commercializing small molecule drugs for patients with serious diseases in specialty markets.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
