Browsed by
Tag: offering

PennyMac Financial Services, Inc. Announces Proposed Private Offering of Additional 5.375% Senior Notes

PennyMac Financial Services, Inc. Announces Proposed Private Offering of Additional 5.375% Senior Notes

WESTLAKE VILLAGE, Calif.–(BUSINESS WIRE)–Oct 14, 2020–

PennyMac Financial Services, Inc. (NYSE: PFSI) (the “Company”) today announced that it intends to offer an additional amount of its 5.375% Senior Notes due 2025 (such additional amount, the “New Notes”). The New Notes will be issued under the indenture governing the Company’s $500 million aggregate principal amount of 5.375% Senior Notes due 2025 issued on September 29, 2020 (the “Existing Notes”). The New Notes, if issued, will be treated as a single series with the Existing Notes and will have the same terms as the Existing Notes, other than with respect to the date of issuance and the issue price.

The Company intends to use the net proceeds from this offering for general corporate purposes, which may include the repayment of the Company’s existing secured warehouse borrowings. The offering is subject to market conditions and other factors. The offering will be made solely by means of a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to certain non-U.S. persons pursuant to Regulation S under the Securities Act.

The New Notes have not been and are not expected to be registered under the Securities Act or under any state securities laws and, unless so registered, may not be offered or sold in the United States or to U.S. persons absent an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any security in any jurisdiction in which such offering, solicitation or sale would be unlawful.

About PennyMac Financial Services, Inc.

PennyMac Financial Services, Inc.

Read the rest
Eton Pharmaceuticals initiates equity offering (NASDAQ:ETON)

Eton Pharmaceuticals initiates equity offering (NASDAQ:ETON)

Eton Pharmaceuticals (NASDAQ:ETON) -6% announces public offering to sell common shares.

Closing date is October 14, 2020.

Net proceeds will be used primarily for general corporate purposes, which may include research and development activities, capital expenditures, selling, general and administrative costs, and to meet working capital needs.

Price, volume and terms have yet to be determined.

Source: Press Release

Source Article Read the rest

Eton Pharmaceuticals Announces Proposed Public Offering of Common Stock

Eton Pharmaceuticals Announces Proposed Public Offering of Common Stock

Press release content from Globe Newswire. The AP news staff was not involved in its creation.

DEER PARK, Ill. , Oct. 13, 2020 (GLOBE NEWSWIRE) — Eton Pharmaceuticals, Inc (Nasdaq: ETON), a specialty pharmaceutical company focused on developing and commercializing innovative treatments for rare pediatric diseases, today announced that it is offering to sell shares of its common stock in an underwritten public offering. The offering is expected to price on or about Wednesday, October 14, 2020.

Eton Pharmaceuticals intends to use the net proceeds from the offering primarily for general corporate purposes, which may include research and development activities, capital expenditures, selling, general and administrative costs, and to meet working capital needs.

National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc. (NASDAQ: NHLD), is acting as the sole book-running manager of the offering. The Liquid Venture Partners group at National Securities is responsible for sourcing and executing the offering.

The shares described above are being offered by Eton Pharmaceuticals pursuant to a registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission (“SEC”). A preliminary prospectus supplement relating to the offering has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Copies of the preliminary prospectus supplement, and accompanying base prospectus relating to this offering, may be obtained from National Securities Corporation, Attn: Charles Wanyama, ECM -Syndicate, 200 Vesey

Read the rest
Canadian Airline WestJet Now Offering Free COVID-19 Insurance For International Travel

Canadian Airline WestJet Now Offering Free COVID-19 Insurance For International Travel

WestJet, Canada’s second largest airline, is now offering complimentary COVID-19 insurance for eligible passengers for travel to and from the US, Europe, the UK, Mexico and the Caribbean until August 31, 2021. The carrier joins Air Canada in offering free Covid-19 insurance in an effort to boost sales as more Canadians elect to stay home or travel domestically to avoid Canada’s 14-day quarantine for international travelers.

Originally WestJet’s insurance did not include US coverage but will now cover travel to the United States. On September 25, 2020 WestJet announced that “guests travelling to, through or from the United States are now eligible for the airline’s enhanced $200,000 CAD COVID-19 travel insurance coverage for air-only and vacation reservations. The enhanced coverage will retroactively include all bookings made as of September 18, 2020 and will increase by $100,000 CAD to include up to a maximum of $200,000 CAD at no additional charge to eligible guests.”

Eligible bookings include any WestJet air-only reservation, including WestJet Vacations bookings for travel to and from the U.S., Mexico, the Caribbean, Europe (including U.K.) and inbound to Canada. These trips will be eligible for coverage for up to 21 days for travel into and including August 31, 2021. For one-way travel reservations, coverage is available for up to seven days.

Arved von zur Muehlen, WestJet Chief Commercial Officer, said that “Our research shows that a lack of COVID insurance is a considerable barrier to travel and our guests were seeking the inclusion of U.S. destinations to our travel insurance offering. Eligible guests travelling to and from the destinations we serve can now have an added layer of confidence

Read the rest
While most car insurance refunds for the pandemic have ended, some insurers are offering discounts as motorists drive less | Business News

While most car insurance refunds for the pandemic have ended, some insurers are offering discounts as motorists drive less | Business News

For instance, Henrico County-based Elephant Insurance announced in August that it would offer a discounted rate to customers working from home. The company said policyholders and spouses working from home and driving less would be eligible to receive the new discount, depending on the number of days driven to work and the customer’s occupation.

“Some part of the work force will be working from home for a while, and as long as they work from home they deserve this consideration,” said Alberto Schiavon, Elephant’s CEO.

State Farm, the nation’s largest auto insurer, started reducing auto rates in every state in May because of changes in driving behavior.

The company said the national average for those rate reductions is 11%, saving customers a total of about $2.2 billion. Rate changes depend on a customer’s individual renewals.

State Farm said its rate reduction went in to effect on July 27 for new customers in Virginia, while existing customers will see the rate change on their renewal date.

The rate reductions in Virginia average about 9.6% and are expected to save the 1.2 million State Farm customers in the state a total of $84.3 million.

Many other major auto insurers also offered deals in the spring that have since expired.

For instance, Allstate, the nation’s fourth largest auto insurer, refunded 15% of its customers’ monthly premiums in April, May, and June. The company said the paybacks amounted to more than $1 billion.

Source Article Read the rest