Walton Ontario Land L.P. 1 Closes Initial Public Offering
Walton International Group Inc. and Walton Ontario Land L. P. 1 announced today that Walton Ontario Land L.P. 1 completed its initial public offering, raising gross proceeds of $18,555,500 and issuing 1,855,550 units.
Proceeds of the offering will be used to purchase and manage parcels of land comprised of 155 acres of land located near Toronto in Alliston, Ontario, and 300 acres of land located in the southwest quadrant of the City of Ottawa. The Partnership investment objective is to maximize returns to limited partners through the acquisition, management, concept planning and eventual sale of these two properties.
The Partnership will be managed by Walton International Group Inc., which is part of the Walton group of companies. [Read the full article]
Rosetta Stone Inc. (NYSE:RST – News), a leading provider of technology-based language learning solutions, today reported record revenues and earnings for its fourth quarter and year ended December 31, 2009, and announced plans to release the next generation of its award-winning language-learning solution in the third quarter of 2010. The company also provided financial guidance for the first quarter and full-year 2010.
Total revenue for the fourth quarter of 2009 was $78.3 million, an increase of 18%, compared to $66.3 million in the prior-year period. Adjusted EBITDA for the fourth quarter was $21.4 million, an increase of 84% over the $11.6 million reported in the prior-year period. Non-GAAP net income was $12.8 million, or $0.61 per share, an increase of 85% over the $0.33 per share reported in the fourth quarter of 2008. [Read the full article]
Amicus Therapeutics (Nasdaq:FOLD – News) today announced that it has entered into definitive agreements dated February 25, 2010 with a select group of institutional investors to sell 4.95 million shares of its common stock and warrants to purchase 1.85 million shares of its common stock in a “registered direct” offering. The shares of common stock and warrants are being offered in units consisting of one share of common stock and one warrant to purchase 0.375 shares of common stock at a price of $3.74 per unit. The warrants have a term of four years and are exercisable any time on or after the six month anniversary of the date they are issued, at an exercise price of $4.43 per share. The gross proceeds of the offering are expected to be approximately $18.5 million to Amicus, before deducting placement agent fees and estimated offering expenses. Leerink Swann LLC served as sole placement agent for the offering. [Read the full article]
ArvinMeritor, Inc. (NYSE:ARM – News) today announced that it priced an underwritten public offering of 17,350,000 shares of common stock, par value $1 per share, at a price of $10.50 per share. The size of the offering was increased from the previously announced 15,000,000 shares. In connection with this offering, ArvinMeritor has granted the underwriters an over-allotment option to purchase up to 2,602,500 additional shares of its common stock. The offering is expected to close on March 3, 2010, subject to customary closing conditions.
ArvinMeritor intends to use the net proceeds from the offering to repay amounts outstanding under its revolving secured credit facility and its U.S. accounts receivable securitization program and for general corporate purposes.
J.P. Morgan Securities Inc., Citi and UBS Investment Bank are acting as joint book-running managers for the offering. [Read the full article]