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By Timothy J. Mullaney and Timothy J. Mullaney,SUN STAFF | August 16, 1996
Digex Inc. of Beltsville has quietly shelved its plans for an initial public offering, saying that the turbulent market for technology stocks has convinced management of the Internet service provider to wait until at least September.The company had first disclosed its plans to go public on June 17, saying it hoped to raise $55 million by offering about 30 percent of the shares to the public. The money would be used to build up the company's communications network, with the remainder of the stock staying in the hands of company executives and venture capitalists.
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BUSINESS
By Lorraine Mirabella, The Baltimore Sun | May 2, 2013
Hunt Valley-based Sinclair Broadcast Group Inc. said Thursday it has closed on the planned purchase of four television stations owned by Cox Media Group for $99 million in cash. The broadcaster also priced its previously announced offering of Class A stock at $27.25 per share and said it is offering 18 million shares. The offering, to raise money for pending and future potential acquisitions, is expected to close May 7. The Cox deal is one of three acquisitions the television station owner and operator announced in the past two months.
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BUSINESS
By Eileen Ambrose | eileen.ambrose@baltsun.com | February 12, 2010
Shareholders of First Mariner Bancorp gave the thumbs up during a special meeting Friday to measures that will allow the struggling company to move forward on a plan to raise up to $20 million through a stock offering, which is critical to the company's survival. The parent of 1st Mariner Bank, Baltimore's largest independent bank, has been operating under regulatory pressure to boost capital. It plans to do so by selling additional shares to existing shareholders, but needed their approval first to raise the amount of common shares.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | April 29, 2013
Hunt Valley-based Sinclair Broadcast Group Inc. reported a 42 percent drop in profit for the first quarter, as operating and interest costs rose and revenue increased but fell short of analysts' expectations. The television station owner and operator said Monday that its income fell to $17 million, or 21 cents per common share, from $29.4 million, or 36 cents per share, during the three months that ended March 31. Its earnings did beat Wall Street's expectations of 17 cents per share, yet its stock fell Monday, closing at $26.69 per share, down 2.9 percent.
BUSINESS
By Eileen Ambrose | eileen.ambrose@baltsun.com | March 23, 2010
Sandy Spring Bancorp said Tuesday it had raised about $101 million from a stock offering that was announced last week. The Olney-based bank holding company sold about 7.47 million shares of common stock for $13.50 per share. The company said it will net about $96 million after subtracting commissions and underwriting discounts. At the time the offering was announced, Sandy Spring said it would use the proceeds for a range of purposes, including debt reduction, capital for its subsidiary Sandy Spring Bank and repayment of money it received last year under the government's Troubled Asset Relief Program.
BUSINESS
By Hanah Cho, The Baltimore Sun | June 22, 2010
Bay National Corporation, whose namesake bank is under intense regulatory scrutiny, will not hold a stock offering to raise capital, according to a document filed last week with the Securities and Exchange Commission. The holding company had filed a request with the SEC in December, but it decided not to move forward with the stock sale due to its inability to redeem trust preferred securities by its Delaware trust subsidiary, current market conditions and its capital position, according to the filing.
BUSINESS
December 12, 1995
Information Resource Engineering Inc., a White Marsh-based manufacturer of computer security systems whose stock price has sizzled this year, said yesterday that it plans to raise an estimated $23.1 million through a secondary stock offering of 1.15 million shares.IRE said 1 million of the shares will be newly issued, while 150,000 will be sold by current investors.The company said it plans to use the proceeds of the sale to repay $4.1 million in debt, to make capital improvements and for general corporate purposes.
BUSINESS
July 3, 1997
Ciena Corp. of Linthicum said yesterday that it completed its second stock offering, raising cash for expansion and allowing insiders to take profits after the company's initial offering in February.Ciena said it sold 1 million shares at $44 each, and insiders sold an additional 8.1 million shares. The biggest individual seller was founder David Huber, who left in May after deciding he wanted to work on more basic fiber-optic research than Ciena needed in the short term.Ciena shares closed at $44.1875 yesterday, up 6.25 cents, in Nasdaq trading.
BUSINESS
January 4, 1996
Gaithersburg-based MedImmune Inc. sought regulatory approval yesterday to issue another 2 million shares of common stock.Mark E. Kaufmann, manager of strategic planning and investor relations for the publicly held biotechnology company, said the offering price of the new shares has not been set.If approved by the Securities and Exchange Commission, the stock offering would bring the number of outstanding shares to more than 18.7 million.MedImmune, which is developing and marketing products for the prevention and treatment of infectious diseases and for use in organ transplants, also announced yesterday that it has struck a new agreement with Connaught Laboratories Inc., a vaccine producer, for Connaught to fill and package CytoGam until 1999.
BUSINESS
By Ross Hetrick and Ross Hetrick,Sun Staff Writer | September 29, 1994
OncorMed Inc., a spin-off company from Gaithersburg-based Oncor Inc., yesterday raised $8 million in an initial public stock offering to finance the company's effort to develop techniques for early detection and treatment of cancer using genetic discoveries.The new company sold 1.3 million shares at $6 a share. The net proceeds to the company will be $6.5 million, after payments associated with the offering.The underwriter is Gaines Berland Inc., a New York investment banking company.Oncor, which owns 42.1 percent of OncorMed, decided to spin off the subsidiary because it primarily provides services rather than produce genetic testing medical kits, as its parent company does, said Stephen Turner, chairman and and chief executive of Oncor.
BUSINESS
By Gus G. Sentementes, The Baltimore Sun | October 15, 2012
Millennial Media Inc., a Baltimore-based mobile advertising company, said Monday it intended to sell a million shares while stockholders planned to sell another nine million shares in a secondary stock offering. Millennial expects to raise $14.5 million from the stock sale, which it intends to use to fund the company's growth, including possible acquisitions of other companies. The company also reported a preliminary third-quarter loss in the range of $1.9 million to $2.4 million, on revenues of $47 million.
BUSINESS
By Hanah Cho, The Baltimore Sun | May 22, 2012
Marylanders interested in owning thoroughbred horses can purchase shares in six racing investment companies founded by Frank Stronach, the owner of Laurel Park and Pimlico Race Course . The stock offering began earlier this month, allowing investors in several states — including Maryland, California and New York — to own a piece of a thoroughbred for $10 a share. Each company plans to raise revenue by racing its horses until November 2013 and then by selling them. After the sale, the net proceeds would be distributed to shareholders, though the prospectus warns potential investors that owning racehorses involves a "high degree of risk.
BUSINESS
By Andrea K. Walker, The Baltimore Sun | May 25, 2011
Millennial Media, a Baltimore company that is a rapidly growing player in the mobile advertising industry, said Wednesday it has bought a Washington, D.C.-based mobile startup firm, Condaptive, that specializes in data analysis. Financial details of the deal were not disclosed. Millennial has said in the past that is considering a public stock offering. andrea.walker@baltsun.com Twitter.com/ankwalker
BUSINESS
By Hanah Cho, The Baltimore Sun | May 12, 2011
Fairmount Bancorp in Rosedale announced Thursday that it has agreed to acquire Baltimore's Fullerton Federal Savings Association. As part of the agreement, Fullerton Federal will convert from a federally chartered mutual savings association to a stock entity and issue stock to Fairmount. In exchange, Fairmount will offer shares of its stock to Fullerton Federal members and then to Fairmount's employee stock ownership plan in a subscription offering. Once the offering is complete, Fullerton Federal will be integrated into Fairmount Bank.
BUSINESS
By Andrea K. Walker,, The Baltimore Sun | April 19, 2011
Edwin F. Hale Sr., the local businessman who built First Mariner Bancorp into a major regional player, but struggled in recent years to raise the money to meet regulators' capital requirements, will step down as chairman and chief executive officer under a deal with a New York investment firm announced Tuesday. Priam Capital, headed by Baltimore native Howard Feinglass, will pump $36.4 million into the cash-strapped bank in return for an ownership stake of nearly 25 percent, First Mariner announced in a release.
BUSINESS
By Gus G. Sentementes, The Baltimore Sun | November 22, 2010
Several big investment banks advised Leonard E. Moodispaw that he shouldn't do it — but the CEO of KEYW Corp., a cybersecurity company in Hanover that's been in business for just two years, wouldn't listen. Restless and eager to expand quickly, Moodispaw took KEYW public last month — after canning the Wall Street naysayers who told him to wait for a more hospitable stock market. The company, with the help of smaller investment banks, raised $89 million on the day of its initial public offering.
BUSINESS
By Gus G. Sentementes, The Baltimore Sun | August 24, 2010
Game Trading Technologies Inc., a Hunt Valley-based supplier of used video games to retailers, said Tuesday that it posted a net loss of $901,000 on revenue of $6.6 million in the second quarter. In the similar quarter a year earlier, GTTI had a profit of $915,000 on revenue of $13 million. The company, which held a public stock offering in March, said the second quarter is typically the slowest period of the year for its business. gus.sentementes@baltsun.com http://twitter.com/gussent
BUSINESS
By Gus G. Sentementes, The Baltimore Sun | July 12, 2010
Just a few years ago, SafeNet Inc., a Harford County technology firm, was wracked by a stock options scandal that sent its former chief financial officer to prison, tanked its stock price and eventually led to investors' taking the company private. But on Monday, Belcamp-based SafeNet announced that it is ready to hit Wall Street again. The company disclosed in a filing with the Securities and Exchange Commission its plans to go public in a $300 million stock offering — one of the biggest IPOs by a Maryland company in years.
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