TreeHouse Announces Pricing of Common Stock Offering to Fund Sturm Foods Acquisition
TreeHouse Foods, Inc. (NYSE:THS – News) announced today that it priced its previously announced underwritten public offering of 2,350,000 shares of common stock at $43.00 per share. The offering yields gross proceeds to TreeHouse of $101,050,000 and, net of underwriting discount, proceeds of $96,250,125. The offering includes a 30-day option for the underwriters to purchase up to an additional 352,500 shares of common stock to cover over-allotments, if any. The offering is expected to close on March 1, 2010, subject to customary conditions.
TreeHouse will use the net proceeds of the offering to fund, in part, the previously announced and pending acquisition of Sturm Foods, Inc. TreeHouse expects to close the acquisition of Sturm Foods on March 2, 2010.
BofA Merrill Lynch and Morgan Stanley are acting as joint book-running managers for the common stock offering. [Read the full article]
MILWAUKEE–(BUSINESS WIRE)–Merge Healthcare Incorporated (NASDAQ: MRGE – News) today announced that it and Morgan Stanley Senior Funding, Inc. have executed a definitive commitment letter for $200 million of bridge financing to finance, in part, Merge proposed acquisition of AMICAS, Inc. (NASDAQ: AMCS – News). Merge proposal to acquire AMICAS for $6.05 cash per share, or an aggregate of $248 million, represents a 13% premium to the previously-announced offer from a newly-formed affiliate of Thoma Bravo, LLC for $5.35 cash per share.
In addition to the proceeds of the Morgan Stanley financing commitment and cash already available at the two companies, Merge has also established an account with $40 million of pre-funded proceeds from its mezzanine investors. A portion of such pre-funded proceeds will be placed in escrow pursuant to Merge proposed Merger Agreement with AMICAS. [Read the full article]
ConnectedMedia Technologies, Inc. (Pink Sheets:XCHC.pk – News), a wholly owned subsidiary of X-Change Corporation, announced today that it has received the approval of the Secretary of State of Florida to close on the 52% of Global Broadcasting Systems, LLC, (GBS), a media company that operates in Radio, Television and Digital Media/Internet.
GBS owns and operates WWWK Latina 105.5 FM and Latina 105.com with coverage in the Florida Keys, Homestead, Kendall and South Miami. The broadcasting operations cover 70% of South Beach, Downtown Miami, Coral Gables, South Miami and Doral and is the first and only Latin Tropical Hits radio station in South Florida.
“We are extremely pleased with the acquisition of GBS,” stated Nydia Del Valle, President and CEO for ConnectedMedia Technologies, Inc. [Read the full article]
FedFirst Financial Corporation (the “Company”) (Nasdaq Capital: FFCO – News), holding company for First Federal Savings Bank (the “Bank”), announced today that the Board of Directors of the Company has unanimously adopted a Plan of Conversion and Reorganization pursuant to which the Bank will reorganize from the two-tier mutual holding company structure to the stock holding company structure and will undertake a “second-step” stock offering of shares of common stock of a new state chartered corporation formed in connection with the conversion. The Bank converted from a mutual savings bank to the two-tier mutual holding company structure in 1999 and completed a public offering of shares of the mid-tier stock holding company in 2005. [Read the full article]