On Tuesday, Shares of Qunar Cayman Islands Ltd (NASDAQ:QUNR), gained 11.44% to $47.53.
Qunar Cayman Islands Limited, declared the sale by Baidu, Inc. (BIDU), the largest shareholder of the Company, of 178,702,519 Class A ordinary shares and 11,450,000 Class B ordinary shares of its ownership interest in the Company to Ctrip.com International, Ltd. (CTRP). The exchange ratio is 1 Qunar ADS to 0.725 Ctrip ADSs. After the completion of the transaction, Ctrip will own 190,152,519 Class B ordinary shares of Qunar.
Qunar also declared recently the changes to its Board composition following the sale of Baidu’s ownership interest. Mr. James Jianzhang Liang, Ms. Jane Jie Sun, Ms. Maria Maohua Sun and Mr. Xing Xiong have been designated to the Board of Qunar. Ms. Helen He, Mr. Liang Zeng, Mr. Yuming He and Mr. Fang Wei have stepped down from the Board. These changes became effective on October 26, 2015.
In addition, Qunar employees would have the choice to exchange their Qunar ADSs into Ctrip ADSs at a ratio of 1 Qunar ADS to 0.725 Ctrip ADSs. Qunar administration voluntarily undertakes that this exchange program will become effective only upon receiving consent from existing Qunar shareholders representing the majority of all the outstanding fully diluted shares of Qunar, counting convertible bonds on an as converted basis, that are not owned by Baidu, Ctrip, or Qunar administration as of October 23, 2015.
Qunar Cayman Islands Limited operates an online travel commerce platform in the People’s Republic of China. The company through its platform provides a range of travel products comprising flight tickets, hotels, vacation packages, and attraction tickets, in addition to display advertising, train tickets, car services, smart lodging, and other services.
Shares of Noble Energy, Inc. (NYSE:NBL), declined -4.65% to $32.98, during its last trading session.
Noble Energy, declared that David L. Stover, the Company’s Chairman, President & CEO, will present at the Bank of America Merrill Lynch Global Energy Conference on Tuesday, November 10, 2015 at 1:20 p.m. Eastern Time.
Noble Energy (NBL) is a global independent oil and natural gas exploration and production company, with proved reserves of 1.7 billion barrels of oil equivalent at year-end 2014 (pro forma for the Rosetta acquisition). The company’s diverse resource base comprises core positions in four premier unconventional U.S. onshore plays – the DJ Basin, Eagle Ford Shale, Delaware Basin, and Marcellus Shale – and offshore in the U.S. Gulf of Mexico, Eastern Mediterranean and West Africa. Driven by its purpose, Energizing the World, Bettering People’s Lives®, the company is committed to safely and responsibly providing energy to the world while positively impacting the lives of our stakeholders.
Noble Energy, Inc., an independent energy company, engages in the acquisition, exploration, and production of crude oil, natural gas, and natural gas liquids worldwide. Its principal projects are located in onshore DJ Basin and Marcellus Shale, the United States; the deepwater Gulf of Mexico; offshore West Africa; and offshore Eastern Mediterranean.
Finally, Shares of Endologix, Inc. (NASDAQ:ELGX), ended its last trade with -36.13% loss, and closed at $8.77.
Endologix, declared that it intends to offer, subject to market conditions and other factors, $150 million aggregate principal amount of its convertible senior notes due 2020 in an underwritten offering registered under the Securities Act of 1933, as amended. Endologix also anticipates to grant the underwriter of the Notes an option to purchase up to an additional $22.5 million aggregate principal amount of the Notes solely to cover overallotments, if any. Piper Jaffray & Co. is acting as the sole underwriter for the offering.
The Notes are predictable to pay interest semiannually and will be convertible into shares of the Companys common stock (Common Stock), cash or a combination of cash and shares of the Companys Common Stock, at the Companys election, based on a conversion rate to be determined at the pricing of the Notes. The Notes will mature on November 1, 2020, unless repurchased, redeemed or converted in accordance with their terms preceding to such date. Preceding to August 1, 2020, the Notes will be convertible only upon the occurrence of certain events and during certain periods, and thereafter, at any time until the second planned trading day right away preceding the maturity date. On or after November 1, 2018, the Company may from time to time redeem for cash all or part of the Notes in certain circumstances.
The Company anticipates to use about $56 million of the net proceeds from the offering of Notes to repay indebtedness of TriVascular Technologies, Inc. (TriVascular) contemporaneously with the consummation of the Companys formerly declared anticipated acquisition of TriVascular. To the extent the holders of convertible indebtedness of TriVascular do not convert their indebtedness into TriVascular common stock preceding to or in connection with the consummation of the Acquisition, the Company intends to use an additional $10 million of the net proceeds to repurchase such convertible indebtedness. The Company anticipates to use the remainder of the net proceeds, or, if the Acquisition does not close, all of the net proceeds to finance the commercialization of its products, for working capital and other general corporate purposes.
Endologix, Inc. develops, manufactures, markets, and sells medical devices for the treatment of abdominal aortic aneurysms in the United States and internationally. The company offers minimally-invasive endovascular repair (EVAR) products, counting EVAR stent graft and catheter delivery system under the brand names Powerlink, IntuiTrak, AFX, and VELA Proximal Endograft.
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