Omeros Slumps On Equity Offering (BBY, RGR, OMER, COOL, CCG)
Sturm, Ruger & Company (NYSE:RGR) yesterday announced that it has purchased a minority interest in Kodabow, Inc., a crossbow manufacturer based in West Chester, PA. Ruger’s investment will help Kodabow accelerate its business plans and expand its infrastructure.
Omeros Corporation (NASDAQ:OMER) stock plunged 14.34% to $11.35 after the company announced its intention to offer shares of its common stock in a registered underwritten public offering. The company intends to use the net proceeds of the offering for general corporate purposes, including expenses related to the clinical development of Omeros’ two ongoing Phase 3 clinical development programs – OMS302 for use during intraocular lens replacement procedures and OMS103HP for use during arthroscopic partial meniscectomy surgery.
Majesco Entertainment Co. (NASDAQ:COOL) shares climbed 8.84% to $1.97 after the company announced that it has entered into a publishing agreement with Zynga, under which Zynga will publish Mini Putt Park, Majesco’s latest social game. Currently available in beta on Facebook, the game is scheduled to officially launch on Facebook and Zynga’s destination for social games Zynga.com this summer.
Campus Crest Communities Inc (NYSE:CCG) shares declined 3.45% to $10.34 after the company announced the commencement of an underwritten public offering of 6 million shares of its common stock. The Company intends to grant the underwriters of the offering a 30-day option to purchase up to an additional 900,000 shares of common stock. Raymond James, Citigroup and Barclays will serve as joint book-running managers for the offering. RBC Capital Markets will serve as lead manager. Baird and Janney Montgomery Scott will serve as co-managers.
Best Buy Co., Inc. (NYSE:BBY) stock fell 0.15% to $19.34 after Reuters reported that Best Buy Co., Inc. founder Richard Schulze is working with banks including Credit Suisse to explore a potential private takeover of the company, three sources close to the matter said on June 26, 2012. Schulze and the banks were still in the early stages of determining what steps to take.yesterday, the stock ended higher by 4.64% to $19.37, off session high of $21.59.