Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) declared the Company accomplished a private offering of 8,823,529 shares of common stock to an accredited investor at a purchase price of $17.00 per share, for total gross proceeds of about $150 million. In addition, the Company accomplished a private offering of 8,000,000 shares of 8.00% Fixed-to-Floating Series B Cumulative Redeemable Perpetual Preferred Stock with a liquidation preference of $25.00 per share to the Investor at a purchase price of $24.71 per share, resulting in gross proceeds of about $198 million. Combined, the two offerings total about $348 million of gross proceeds to the Company.
The Company intends to use the proceeds from the offerings to repay amounts outstanding under the Companys repurchase facility with JPMorgan Chase Bank, N.A. and the balance, if any, to acquire the Companys target assets, which comprise commercial first mortgage loans, subordinate financings, commercial mortgage-backed securities and other commercial real estate-related debt investments, and for general corporate purposes.
The Series B Preferred Stock will pay cumulative cash dividends: (i) from, and counting, the original date of issuance of the Series B Preferred Stock to, but not taking into account, September 20, 2020, at an initial rate of 8.00% per annum of the $25.00 per share liquidation preference; and (ii) from, and counting, September 20, 2020, at the rate per annum equal to the greater of (a) 8.00% and (b) a floating rate equal to the 3-month LIBOR rate as calculated on each applicable date of determination plus 6.46% of the $25.00 liquidation preference. Dividends on the Series B Preferred Stock will be payable quarterly in arrears on or about the 15th day of January, April, July and October of each year. The first dividend on the Series B Preferred Stock will be paid on January 15, 2016, and will comprise the partial period ending on October 15, 2015.
The Investor received registration rights regarding the shares of common stock and Series B Preferred Stock purchased in the offering which registration rights require the Company to use its commercially reasonable efforts to file a registration statement for the resale of the shares of common stock and Series B Preferred Stock purchased by the Investor on or before the date that is 180 days after the closing of the offering.
Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) is a real estate investment trust that primarily originates, invests in, acquires and manages performing commercial real estate first mortgage loans, subordinate financings, commercial mortgage-backed securities and other commercial real estate-related debt investments. The Company is externally managed and advised by ACREFI Administration, LLC, a Delaware limited liability company and an indirect partner of Apollo Global Administration, LLC, a leading global alternative investment manager with about $162.5 billion of assets under administration at June 30, 2015.
U.S. Stocks NEWS: On Monday, Shares of Whole Foods Market, Inc. (NASDAQ:WFM), lost -0.28% to $31.98.
Whole Foods Market, has lowered prices on one item to improvement traffic to its stores, according to Investopedia.
As part of what the company is calling Love Fest, the chain has dropped the price of a cup of coffee to $0.25 from now through Nov. 3. That deal applies to all 12-ounce cups of brewed coffee not espresso-based drinks and the offer has no limit. Customers can drink a single cup of quarter coffee or down as many of them as they want.
The cheap coffee deal is being offered together with a number of other promotions during the period. Investopedia Reports
We are looking forward to deepening our connections with customers and saying thank you and we love you during this special Love Fest season, said Executive Vice President of Operations David Lannon in a press release. We cant wait to surprise and delight shoppers with some of our best-ever deals, weekly giveaways and a few other surprises in our stores in addition to in our social media channels.
Whole Foods Market, Inc. operates as a retailer of natural and organic foods. The company’s stores offer produce and floral, grocery, meat, seafood, bakery, prepared foods and catering, coffee, tea, beer, wine, cheese, nutritional supplements, vitamins, and body care products, in addition to lifestyle products, counting books, pet products, and household products.
Shares of Micron Technology, Inc. (NASDAQ:MU), inclined 1.61% to $15.75, during its last trading session, after analyst firm Barclays initiated coverage of the chipmaker.
Barclays initiated coverage of Micron with an overweight rating, setting a price target of $20 for the company. The analyst firm anticipates the chipmaker to report earnings of $2.64 a share for fiscal 2015 and $1.76 a share in fiscal 2016.
While recent weak demand and DRAM pricing trends likely indicate some risk to numbers, our below-consensus estimates still leave MU trading close to 7x our CY16E EPS vs. avg 9x Fwd P/E over the last two years, Barclays analysts wrote.
The analyst firm believes that much of Microns near-term risk is already priced into the stock. Barclays analysts said that stable market dynamics and opportunity for improved relative costs with the ramp of 20nm DRAM and 3D NAND combined with recent pullbacks imply more upside to the stock.
Micron Technology, Inc., together with its auxiliaries, provides semiconductor solutions worldwide. The company manufactures and markets dynamic random access memory (DRAM), NAND flash, and NOR flash memory products; and packaging solutions and semiconductor systems.
Shares of JetBlue Airways Corporation (NASDAQ:JBLU), declined -0.26% to $26.84, during its last trading session.
Despite the sharp drop in ticket prices, the airline companies are still enjoying hefty profits due to the plunge in oil prices.
JetBlue Airways Corporation, has performed better than its competitors and will continue to fare well due to its innovative revenue generating plans. The company is modifying its hedging plans to benefit most from the decline in oil prices.
JetBlue Airways has been assigned a consensus rating of “Buy” from the twenty-two research firms that are covering the company, Analyst Ratings Net reports. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $28.55.
JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2014, the company operated a fleet of 13 Airbus A321 aircrafts, 130 Airbus A320 aircrafts, and 60 EMBRAER 190 aircrafts.
Finally, Shares of Atossa Genetics, Inc. (NASDAQ:ATOS), ended its last trade with 6.08% surge, and closed at $0.87.
Atossa Genetics declared that the U.S. Food and Drug Administration has accepted the Companys Investigational New Drug (IND) application for a clinical trial of Fulvestrant in patients with Ductal Carcinoma in Situ (DCIS) or breast cancer.
Acceptance of the IND by the FDA enables Atossa to now move forward with an open-label, non-randomized pharmacokinetic and safety study of Fulvestrant in women with DCIS or breast cancer who are planned for mastectomy. Patients will be treated with either intramuscular Fulvestrant or intraductal instillation of Fulvestrant utilizing Atossas patented intraductal microcatheter device. Atossa is the owner of an issued patent and several pending applications directed to the treatment of breast conditions, counting cancer, by intraductal administration of Fulvestrant.
Sheldon M. Feldman, M.D., of the Columbia University Medical Center Breast Cancer Program is predictable to be the principal investigator. The trial is planned to commence in December 2015.
The FDAs acceptance of our Fulvestrant IND is a noteworthy milestone for Atossa that hallmarks a potentially new, locally administered treatment for DCIS via intraductal administration utilizing our patented microcatheters, said Dr. Steven Quay, Chairman, CEO & President of Atossa Genetics. DCIS is a serious medical condition diagnosed in about 60,000 women a year in the U.S. The current standard of care for these women comprises surgical removal of the tumor, radiation, and/or Tamoxifen treatment and in some cases mastectomy. Together with our Afimoxifene Gel, we now have two Phase II programs underway, he continued.
Atossa Genetics Inc. operates as a healthcare company that focuses on the development of a suite of laboratory services, medical devices, and therapeutics for breast cancer in the United States. The company markets nipple aspirate fluid (NAF) cytology tests and pharmacogenomics tests.
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