Month: February 2017 (page 1 of 5)

Frederick-based RoosterBio raises over $5.1 million

FREDERICK, MD — RoosterBio Inc. raised almost $5.2 million in equity and option, according to a filing Monday with the Securities and Exchange Commission.unnamed

RoosterBio filed a Form D signed by CEO Margot Connor, founder and Chief Technical Officer Jon Rowley and Robert Carlson on Feb. 27.

RoosterBio, founded in 2012, is a biotechnology company that works on cell-based bioeconomy and provides standardized stem cell technology to bring products to market faster.

The $5,197,557 has been raised from 10 investors.

This is an amended notice with the first date of sale on Nov. 23, 2016. This offering is not intended to last more than one year.

The types of securities offered are in equity and option, warrant or other right to acquire another security.

The company has over 160 customers worldwide and started offering products to customers in February 2014. The company website equates biofabrication of stem cells to 3D printing. The company products include cells, media and kits and bundles.

None of the money will go toward executive salary, and the offering is not being made in conjunction with a business combination transaction. There is no minimum investment accepted from any outside investor.

The company claimed a Rule 506 (b) exemption for the filing. Companies relying on the Rule 506 exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism

Online education platform 2U Inc. bests analyst earnings projections

2ULANHAM, MD – 2U Inc., a Washington, D.C.-area online education company, reported a 33 percent jump in fourth-quarter revenue following an increase in online program offerings, according to a Thursday filing with the Securities and Exchange Commission.

The company, based out of Prince George County, reported adjusted net income of $2.0 million, or 4 cents per share, in the quarter, compared to an adjusted net loss of $100,000 in the same period a year ago. The figure beat analyst estimates of 3 cents per share.

“Both the fourth quarter and full-year 2016 showed significant year-over-year revenue growth as well as continued margin progress in each of our earnings measures,” said Chip Paucek, 2U’s chief executive and co-founder. “2016 was the year that the first of our three earnings measures turned positive.”

2U’s fourth-quarter revenue totaled $57.4 million, up from $43.3 million in the fourth quarter of 2015. The company said its courses enrolled nearly 22,000 students across its clients’ programs in the fourth quarter, up 31 percent year over year and 13 percent on a quarterly basis.

The company also issued earnings guidance for the first quarter and its fiscal-year 2017. 2U said it expects revenues to total between $267.6 million and $269.8 million in 2017, which falls on the lower end of analyst expectations. 2U’s first-quarter revenue expectations are in line with average analyst estimates of $63.95 million.

Shares of 2U stock have fallen 1 percent since the Thursday announcement to $36.48.

Founded in 2008, 2U provides an integrated online platform for schools to acquire, educate and support students globally. The company’s current roster of university partners includes Georgetown University, New York University, Simmons College, Yale University, the University of Southern California and UNC-Chapel Hill, among others.

The filing can be found here.

This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism

Potomac-based Venuetize raises $4.2 million from six investors

POTOMAC, MD —A mobile-first platform as a service company raised $4.2 million from six investors, according to filings with the Securities and Exchange Commission.  Venuetize

Venuetize LLC filed the Form Ds on Feb. 27, 2017. The first sale occurred on Feb. 13, 2017. The offering was not made in connection with a business combination transaction. The company hopes to raise an additional $1.76 million.

Venuetize develops a mobile-first, platform-as-a-service that connects personalized data, marketing analytics, content and interactive technologies to acquire, retain and monetize fan bases for sports businesses. Founded in 2014, the company creates and manages social media marketing campaigns that leverage fans’ social media channels.

It announced on Feb. 27  that it acquired the intellectual property assets of eMbience Inc., a mobile software developer with expertise in proximity marketing and targeted advertising.

Companies relying on a Reg D exemption such as click notices do not have to register their offering of securities with the SEC, but they must file what is known as a Form D electronically with the SEC after they first sell their securities.

The Form Ds can be found here and here. They were both signed by Karri Zaremba, chief operating officer of Venuetize.

This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism

 

Annapolis-based legal service software company raises $600,000

ANNAPOLIS, MD — A legal services software company raised $600,000 from nine investors, according to a filing with the Securities and Exchange Commission.  Click Notices logo

Click Notices Inc. filed the Form D on Feb. 24, with the first sale occurring Jan. 18. The offering was not made in connection with a business combination transaction. It is not expected to last more than one year.

Founded in 2010, Click Notices is a software-as-a-service (SaaS) provider of delinquency management services to the multifamily property management industry.

It serves as a tool for property managers to minimize delinquent rent, lower legal costs and simplify operations. It notifies customers of court rulings and if requested, assists with obtaining warrants, pursuing evictions and coordinating with sheriffs.

The company has offices in Maryland, Silicon Valley, New York City and India. It is backed by venture firms such as McCulloch Capital, Sopris Capital and Westlake Ventures.

William B. Horne, chief executive officer and director of the company, signed the Form D, which can be found here. 

Companies relying on a Reg D exemption such as Click Notices do not have to register their offering of securities with the SEC, but they must file what is known as a Form D electronically with the SEC after they first sell their securities.

This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism

Senseonics reports fourth-quarter loss, beats estimates

GERMANTOWN, MD — Medical technology company Senseonics Holdings Inc. reported a fourth-quarter loss of 11 cents per share that beat Wall Street expectations by a penny.

The net loss was $9.9 million, or 11 cents per share. Analysts were expecting a net loss of 12 cents per share.

Fourth-quarter revenue was $300,000 compared to no revenue that was earned in the fourth quarter of 2015 due to the expansion of distribution.senseonics-holdings-inc-logo

In 2016, Senseonics Holdings presented pre-market approval for Eversense, the company’s glucose monitoring system, to the Food and Drug Administration and launched the product to distribution partners in Sweden, Italy, The Middle East and Africa.

“In the year ahead, we look forward to continuing the momentum throughout 2017, with the completion of significant regulatory milestone in the United States and meaningful commercial sales ramp in Europe,” said Chief Executive Officer Tim Goodnow in a statement.

Sales and marketing expenses increased $500,000, research and development expenses increased $800,000, while administrative expenses decreased $300,000.

Its shares fell 1 cents to $2.31 in Friday afternoon trading.

The filing can be found here.

This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism

U.S. Silica Holdings beats expectations despite fourth-quarter loss

imgresFREDERICK, MD – U.S. Silica Holdings reported a fourth-quarter loss of $6.9 million, or 9 cents a share, beating Wall Street expectations by 1 cent.

The company posted revenue fourth-quarter revenue of $182.4 million, compared to the analysts’ predictions of $177.12 million. Its revenue was up 34 percent compared to last year, and 32 percent from the third-quarter.

Silica Holdings attributed the loss to development-related expenses, including its acquisitions of Sandbox and NBR Sands.

“Despite the many challenges, we made substantial progress in 2016 to make our company leaner, stronger, more flexible and ultimately easier for customers to do business with, all of which we believe will enable us to further extend our industry-leading positions in both our oil and gas and industrial and specialty products segments,’’ said Bryan Shinn, president and chief executive officer.

Its stock dropped following the report. Shares closed on Feb. 23 at $53.33 per share, down $6.17 or 10.37 percent.

For the year, Silica reported revenue of $559.6 million, a 13 percent decrease from the $643 million revenue reported in 2015.

The company reported a net loss of $41.1 million or 63 cents per share, compared with a net income of $11.9 million or 22 cents per share for the year in 2015.

Silica Holdings expects capital expenditures for 2017 to range from $125 million to $150 million.

“Looking ahead at 2017, we see strong demand for both sand proppant and last mile logistics in our Oil and Gas business and believe we have the right strategy and are well positioned to capitalize on these favorable market trends. For our Industrial segment, demand in most of our end use markets is anticipated to stay strong and we expect to continue to roll out new, higher margin products to drive bottom line growth,” said Shinn.

U.S. Silica Holdings is a producer and seller of commercial silica in the United States.

The Securities and Exchange Commission filing can be found here.

This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism.

W. R. Grace CEO Festa profits more than $2.6 million from exercising, selling stock

COLUMBIA, MD – Alfred Festa, chairman and chief executive officer of W. R. Grace & Co., profited $2,615,824 after exercising options and selling shares of company stock, according to a filing with the Securities and Exchange Commission.

imgresThe transactions occurred on Feb. 21, according to the Form 4 filing.

Henson bought 80,560 shares at an exercise price of $39.02 per share and then sold them at a market price of $71.4905 per share.

Festa still owns 231,230 shares of company stock worth more than $16.5 million, according to the filing. Festa has served as chairman and CEO since 2008 and 2005, respectively, after previously serving as the chief operating officer beginning in 2003.

W. R. Grace is a specialty chemical, construction and container product company, with customers in the food, petroleum refinery and construction products industries.

W.R. Grace stock closed on Feb. 21 at $71.06, down 75 cents, or 1.04 percent, for the day.

This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism 

Enviva reports fourth quarter loss, misses expectations

BETHESDA, MD — Enviva Partners LP, a wood pellet producer, reported a fourth-quarter loss of $7.9 million, or a loss of 34 cents per share, missing Wall Street expectations by 62 cents.

The Bethesda-based company posted revenue of $126.50 million in the period, compared to analysts expectations of $116.60 million. Its revenue was up 8.3 percent compared to the same quarter lastenviva_400x400 year.

On Dec. 14, Enviva completed a drop-down acquisition of a fully operational wood pellet production plant in Sampson County, North Carolina, for $175 million.

“We completed the Sampson drop-down acquisition earlier than anticipated, setting the stage for robust growth in 2017,” said John Keppler, chairman and chief executive officer.

For the year, the company reported profit of $21.4 million, or 91 cents per share. Revenue was reported as $464.3 million, an increase from the 2015 revenue of $457.37.

“Strong plant performance and reduced costs across our operations enabled the partnership to deliver solid financial results for the year,” Keppler said.

Enviva Partners shares have increased 5 percent since the beginning of the year. The stock has risen 51 percent in the last 12 months.

Shares were trading at $28.85 on Thursday, up 90 cents or 3.22 percent.

Enviva Partners is a master limited partnership that aggregates a natural resource, wood fiber, and processes it into a transportable form, wood pellets. The partnership owns and operates seven plants with a combined production capacity of approximately 2.8 million metric tons of wood pellets per year in Virginia, North Carolina, Mississippi and Florida.

The Securities and Exchange filing can be found here.

This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism.

United Therapeutics shares fall 12 percent after missing revenue estimates

SILVER SPRING, MD — Drug company United Therapeutics saw its shares fell 12 percent on Wednesday after its fourth-quarter revenue fell short of Wall Street expectations.

Revenues for the fourth quarter increased by 1 percent to $409 million, compared to $404.9 million in the same period in 2015. Analysts expected the company to report revenue of $415.5 million.united-therapeutics_thumbnail

“The quarterly trends for the fourth quarter were down from the third quarter, but this is a typical quarterly choppiness that we see with our sales,” said Chief Executive Officer Martine Rothblatt on the earnings conference call.

United Therapeutics stock closed down 12.47 percent Wednesday, from $167.92 to $146.98.

Once adjusted for stock option expense and non-recurring costs, earnings were $4.12 per share, beating analyst expectations.  Of 10 analysts, the average earnings per share expectation was $3.61.

The Silver Spring-based company reported net income of $110.3 million, or $2.43 per share, compared to $104.6 million, or $2.10 per share, in the same quarter of 2015.

For the year, the company reported a profit of $713.7 million, or $15.25 per share.

The hypertension pill Adcirca saw $21.2 million in additional sales for the quarter, but sales of the hypertension drug Tyvaso fell by $25.6 million, offsetting fourth-quarter growth.

Total revenues for 2016 increased by 7.7 percent to $1.6 billion, up from $1.47 billion last year. Revenue growth for the year was driven by a $93.4 million increase in sales of Adcirca.

The 8-K filing can be found here

This is a story from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism.

Bright Greens smoothie company raises $500,000, wants $2 million

ROCKVILLE, MD — Bright Greens, a smoothie company, has raised $500,000 in equity and plans to raise $2 million.

The private company, which incorporated at the start of 2017, makes frozen cubes of smoothie concentrate that, when mixed with hot water, produce an instant smoothie containing seven servings of fruit and vegetables. bright greens thumbnail

One investor has bought into the offering, which began Jan. 30. The company does not expect the $2 million offering to last more than a year.

The company is run by Chief Operating Officer Sean Wainwright and founder Brian Mitchell, who previously worked at natural food companies and Whole Foods Market.

Bright Greens products are available in select Whole Foods in DC, Maryland, Virginia, New Jersey, Ohio and Virginia and three specialty shops in New York City.

Online orders with a minimum $40 purchase may be shipped to DC, Maryland, Virginia, Delaware, West Virginia, Pennsylvania and New York.

The form D can be found here.

This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism

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