Financial economics

Stock Yards Bancorp, Inc. and Commonwealth Bancshares, Inc. to Merge

Retrieved on:

Tuesday, August 3, 2021

Financial markets, Finance, Financial economics, Corporate finance, Stock, Stock market

LOUISVILLE, Ky., Aug. 03, 2021 (GLOBE NEWSWIRE) -- Stock Yards Bancorp, Inc. (Stock Yards or the Company) (NASDAQ: SYBT), the parent company of Stock Yards Bank & Trust Company today announced the signing of a definitive agreement for Stock Yards to acquire Commonwealth Bancshares, Inc. (Commonwealth), the parent company of Commonwealth Bank & Trust.

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LOUISVILLE, Ky., Aug. 03, 2021 (GLOBE NEWSWIRE) -- Stock Yards Bancorp, Inc. (Stock Yards or the Company) (NASDAQ: SYBT), the parent company of Stock Yards Bank & Trust Company today announced the signing of a definitive agreement for Stock Yards to acquire Commonwealth Bancshares, Inc. (Commonwealth), the parent company of Commonwealth Bank & Trust.
Under the terms of the mergeragreement, Commonwealth shareholders will have the right to receive 0.9267 shares of Stock Yards common stock and $11.20 in cash for each share of Commonwealth common stock with total consideration to consist of approximately 80% stock and 20% cash.
We are excited to have Commonwealth and its dedicated employees join the Stock Yards team, commented James A.
In connection with the proposed transaction, Stock Yards and Commonwealth will prepare a proxy statement of Commonwealth that also constitutes an offering circular of Stock Yards which, when finalized, will be sent to the shareholders of Commonwealth seeking their approval of the merger-related proposals.

Franchise Group, Inc. Announces Approval of Quarterly Common Stock Dividend

Retrieved on:

Tuesday, August 3, 2021

Corporate finance, Financial markets, Financial economics, Equity securities, Franchise Group, Franchises, Dividend, Franchising, Common stock, The Vitamin Shoppe, Franchise, Pet Supplies Plus

DELAWARE, Ohio, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Franchise Group, Inc. (NASDAQ: FRG) (Franchise Group or the Company) today announced that its Board of Directors approved a quarterly dividend to common stockholders of $0.375 per share.

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DELAWARE, Ohio, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Franchise Group, Inc. (NASDAQ: FRG) (Franchise Group or the Company) today announced that its Board of Directors approved a quarterly dividend to common stockholders of $0.375 per share.
The cash dividend will be paid on or about October 15, 2021 to holders of record of the Companys common stock on the close of business on October 1, 2021.
Franchise Groups business lines include, Pet Supplies Plus, American Freight, The Vitamin Shoppe and Buddys Home Furnishings.
On a combined basis, Franchise Group currently operates over 1,800 locations predominantly located in the U.S. that are either Company-run or operated pursuant to franchising agreements.

Franchise Group, Inc. Announces Approval of Quarterly Preferred Dividend

Retrieved on:

Tuesday, August 3, 2021

Financial markets, Financial economics, Finance, Corporate finance, Equity securities, Stock market, Franchise Group, Franchises, Preferred stock, Dividend, Franchising, The Vitamin Shoppe

DELAWARE, Ohio, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Franchise Group, Inc. (NASDAQ: FRG) (Franchise Group or the Company) today announced that its Board of Directors approved a quarterly dividend of $0.46875 per share to Series A Cumulative Perpetual Preferred stockholders.

Key Points:

DELAWARE, Ohio, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Franchise Group, Inc. (NASDAQ: FRG) (Franchise Group or the Company) today announced that its Board of Directors approved a quarterly dividend of $0.46875 per share to Series A Cumulative Perpetual Preferred stockholders.
The cash dividend will be paid on or about October 15, 2021 to holders of record of the Companys Series A preferred stock on the close of business on October 1, 2021.
Franchise Groups business lines include, Pet Supplies Plus, American Freight, The Vitamin Shoppe and Buddys Home Furnishings.
On a combined basis, Franchise Group currently operates over 1,800 locations predominantly located in the U.S. that are either Company-run or operated pursuant to franchising agreements.

Camping World Announces Increase in Stock Repurchase Program by $125 Million

Retrieved on:

Tuesday, August 3, 2021

Camping World Holdings, Inc. (NYSE: CWH) (Camping World, Company, we, us or our) today announced that its Board of Directors has authorized an increase in the Companys stock repurchase program for up to an additional $125.0 million of its Class A common stock, effective immediately.

Key Points:

Camping World Holdings, Inc. (NYSE: CWH) (Camping World, Company, we, us or our) today announced that its Board of Directors has authorized an increase in the Companys stock repurchase program for up to an additional $125.0 million of its Class A common stock, effective immediately.
The Board of Directors has authorized an increase in the Companys stock repurchase program originally approved on October 30, 2020 for an additional $125.0 million of the Companys Class A Common Stock, effective immediately, resulting in approximately $156,808,000 remaining available for such repurchases.
The approval of the increased stock repurchase program reflects the confidence our senior management team, Board of Directors, and I have in the Companys future performance and ability to generate strong cash flow and create long term value, said Marcus Lemonis, CEO and Chairman of Camping World.
Camping World Holdings, Inc., headquartered in Lincolnshire, IL, (together with its subsidiaries) is Americas largest retailer of RVs and related products and services.

Ingersoll Rand Announces Secondary Offering of 29,788,635 Shares of Common Stock

Retrieved on:

Tuesday, August 3, 2021

Ingersoll Rand Inc. (NYSE:IR) (Ingersoll Rand) announced that KKR Renaissance Aggregator L.P. (the Selling Stockholder) intends to offer for sale in an underwritten secondary offering 29,788,635 shares of common stock of Ingersoll Rand (the Shares) pursuant to a registration statement filed by Ingersoll Rand with the U.S. Securities and Exchange Commission (the SEC).

Key Points:

Ingersoll Rand Inc. (NYSE:IR) (Ingersoll Rand) announced that KKR Renaissance Aggregator L.P. (the Selling Stockholder) intends to offer for sale in an underwritten secondary offering 29,788,635 shares of common stock of Ingersoll Rand (the Shares) pursuant to a registration statement filed by Ingersoll Rand with the U.S. Securities and Exchange Commission (the SEC).
No shares are being sold by Ingersoll Rand.
As part of and subject to the completion of the offering, Ingersoll Rand intends to concurrently repurchase from the underwriter, 14,894,317 shares out of the aggregate 29,788,635 shares of its common stock that are the subject of the offering (the Concurrent Share Repurchase).
The price per share to be paid by Ingersoll Rand will equal the price at which the underwriter will purchase the Shares from the Selling Stockholder in the offering.

ZoomInfo Announces Secondary Offering of Shares of Class A Common Stock

Retrieved on:

Tuesday, August 3, 2021

No shares are being sold by ZoomInfo.

Key Points:

No shares are being sold by ZoomInfo.
The last reported sale price of ZoomInfos Class A common stock on August 2, 2021 was $54.78 per share.
Morgan Stanley is acting as the underwriter for the offering.
The underwriter proposes to offer the shares of Class A common stock to the public at a fixed price, which may be changed at any time without notice.

Global Medical REIT Announces Second Quarter 2021 Financial Results

Retrieved on:

Tuesday, August 3, 2021

REIT, Hospitals, Health, Commercial Building & Real Estate, Construction & Property, Financial markets, Corporate finance, Financial economics, Equity securities, Dividends, Stock market, Shareholders, Preferred stock, Real estate investment trust, Common stock, Lluís Companys, Dividend yield

Rental revenue for the second quarter of 2021 increased 28.0% year-over-year to $28.2 million, reflecting the growth in the Companys portfolio.

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Rental revenue for the second quarter of 2021 increased 28.0% year-over-year to $28.2 million, reflecting the growth in the Companys portfolio.
On June 10, 2021, the Board of Directors declared a $0.205 per share cash dividend to common stockholders of record as of June 24, 2021, which was paid on July 8, 2021, representing the Companys second quarter 2021 dividend payment to its common stockholders.
This dividend represented the Companys quarterly dividend on its Series A Preferred Stock for the period from April 30, 2021 through July 30, 2021.
Dial in at least five minutes prior to start time and reference Global Medical REIT Inc.

Infinity Pharmaceuticals Reports Inducement Grants to Chief Scientific Officer under Nasdaq Listing Rule 5635(c)(4)

Retrieved on:

Tuesday, August 3, 2021

Biotechnology, Pharmaceutical, Health, Oncology, Financial markets, Finance, Financial economics, Corporate finance, Stock market, Employee stock ownership, Fundamental analysis, Restricted stock, Stock, Short

Infinity Pharmaceuticals, Inc. (Nasdaq: INFI) (Infinity or the Company), a clinical-stage biotechnology company developing eganelisib (IPI-549), a potentially first-in-class, oral, immuno-oncology macrophage reprogramming therapeutic, today announced the grant of an inducement stock option award and an inducement restricted stock unit award to Stephane Peluso, Ph.D., the Companys recently hired Chief Scientific Officer, in accordance with Dr. Pelusos employment offer letter.

Key Points:

Infinity Pharmaceuticals, Inc. (Nasdaq: INFI) (Infinity or the Company), a clinical-stage biotechnology company developing eganelisib (IPI-549), a potentially first-in-class, oral, immuno-oncology macrophage reprogramming therapeutic, today announced the grant of an inducement stock option award and an inducement restricted stock unit award to Stephane Peluso, Ph.D., the Companys recently hired Chief Scientific Officer, in accordance with Dr. Pelusos employment offer letter.
These grants were approved by the Companys Compensation Committee of the Board of Directors and were made as a material inducement to Dr. Pelusos acceptance of employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4) as a component of his employment compensation.
The inducement stock option award is subject to the terms and conditions of the inducement stock option award agreement covering the grant of the inducement stock options.
The inducement restricted stock unit award is subject to the terms and conditions of the inducement restricted stock unit award agreement covering the grant of the inducement restricted stock units.

Wells Fargo & Company Announces Full Redemptions of its Series O and Series X Preferred Stock and Related Depositary Shares

Retrieved on:

Tuesday, August 3, 2021

Banking, Professional services, Finance, Financial markets, Finance, Financial economics, Equity securities, Stock market, Corporate finance, Preferred stock, Stock, Wells Fargo

The redemption of the Redeemed Series O Preferred Shares will trigger the redemption of the 26,000,000 shares of the related depositary shares (the Redeemed Series O Depositary Shares), each representing a 1/1,000 interest in a share of Series O Preferred Stock (the Series O Depositary Shares) (NYSE: WFC.PRO).

Key Points:

The redemption of the Redeemed Series O Preferred Shares will trigger the redemption of the 26,000,000 shares of the related depositary shares (the Redeemed Series O Depositary Shares), each representing a 1/1,000 interest in a share of Series O Preferred Stock (the Series O Depositary Shares) (NYSE: WFC.PRO).
Wells Fargo & Company also announced that on Sept. 15, 2021, it will redeem all 46,000 shares (the Redeemed Series X Preferred Shares) of its Non-Cumulative Perpetual Class A Preferred Stock, Series X (the Series X Preferred Stock).
The redemption of the Redeemed Series X Preferred Shares will trigger the redemption of the 46,000,000 shares of the related depositary shares (the Redeemed Series X Depositary Shares), each representing a 1/1,000 interest in a share of Series X Preferred Stock (the Series X Depositary Shares) (NYSE: WFC.PRX).
All regulatory requirements relating to the redemption of the Redeemed Series O Preferred Shares, Redeemed Series O Depositary Shares, Redeemed Series X Preferred Shares, and Redeemed Series X Depositary Shares have been satisfied by Wells Fargo & Company.

First BanCorp. Announces Payment of Dividends on Preferred Stock

Retrieved on:

Tuesday, August 3, 2021

Banking, Professional services, Finance, Financial markets, Finance, Financial economics, First Bancorp, FirstBank, Legal entities, Dividend, First Bank, PUERTO RICO, Limited liability company, Preferred stock, First Bank of Nigeria

is the parent corporation of FirstBank Puerto Rico, a state-chartered commercial bank with operations in Puerto Rico, the U.S. and British Virgin Islands and Florida, and of FirstBank Insurance Agency, LLC.

Key Points:

is the parent corporation of FirstBank Puerto Rico, a state-chartered commercial bank with operations in Puerto Rico, the U.S. and British Virgin Islands and Florida, and of FirstBank Insurance Agency, LLC.
Among the subsidiaries of FirstBank Puerto Rico are First Federal Finance Limited Liability Company and First Express, Inc., both small loan companies.
First BanCorps shares of common stock trade on the New York Stock Exchange under the symbol FBP.
Such forward-looking statements include, but are not limited to, statements regarding the Corporations ability to declare dividends on the Corporations Preferred Stock in any future periods.