Day: March 5, 2017

Consulting firm Indiggo Associates raises $750,000

IndiggoBETHESDA, MD — Indiggo Associates Inc., a Bethesda, Maryland-based business consulting firm, raised $750,000 in a private equity offering, according to a filing with the Securities and Exchange Commission.

Indiggo Associates filed the Form D on March 3. It did not disclose what it intended to do with the money raised.

Indiggo Associates is a business-consulting firm that helps its clients build leadership skills among their executives and increase their efficiency and performance. The company has developed a leadership platform that helps members practice effective leadership.

Janeen Gelbart serves as chief executive officer of Indiggo Assosciates.

Gelbart also founded Safic, a pan-European importer and distributor of technology products. Following several years of spearheading Safic’s triple digit growth, she sold the business and relocated to the U.S. She then created a wholesale distribution company where she worked for eight years.

Indiggo Associates is a business-consulting firm that helps its clients build leadership skills among their executives and increase their efficiency and performance. The company has developed a leadership platform that helps members practice effective leadership.

The company announced in February 2017 its partnership with BDO USA, one of the largest accounting services company.

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

 

Nasdaq threatens to delist Cerecor

BALTIMORE, MD — Cerecor Inc., a clinical stage biopharmaceutical company, is in violation with Nasdaq listing qualifications and has been warned of being delisted, according to a filing with the Securities and Exchange Commission.imgres

Nasdaq Listing Qualifications staff notified Cerecor on Feb. 24 that it is in violation with rule 550(a)(2) because the company’s stock price has been below $1 for 30 consecutive business days.

The notification has no direct effect on the company’s listing on the Nasdaq stock market, and Cerecor has 180 calendar days to comply with the rule. The company’s stock price must reach a closing price of above $1 for 10 consecutive business days for it not to be delisted.

Cerecor’s stock closed at 75 cents on March 3, a 1.32 percent drop from the previous close.

Cerecor completed its initial public offering in October 2015.

The company has been focusing on the research and development of drugs for major depressive disorder and substance abuse disorder.

According to the company’s 2015 annual report, Cerecor expects significant losses during the duration of developing these medications and has no insight as to when or if the products will be able to be profitable. An annual report for the 2016 fiscal year has not been filed yet.

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

Choice Hotels hires Dragisich as its CFO

Choice HotelsROCKVILLE, MD -– Choice Hotels International Inc. announced Friday that Dominic Dragisich will begin serving as the company’s chief financial officer on Monday, according to a filing with the Securities and Exchange Commission.

The Rockville, Maryland-based hospitality holding corporation also disclosed Dragisich’s compensation package, which will include an annual base salary of $400,000, a short-term incentive plan worth 70 percent of his base salary and an annual equity grant award under the company’s long-term incentive program valued at 150 percent of his annual salary.

“Dominic’s focus on implementing a best-in-class culture of operational excellence and engagement will help drive our continued expansion,” said Steve Joyce, chief executive officer of Choice Hotels, in a statement. “He is a leader who has successfully driven results in other positions and will be a great contributor to help Choice achieve our goals.”

Dragisich will also receive a one-time award of restricted stock valued at $400,000, which will vest in full in three years.

Scott Oaksmith, who has been leading the finance team at Choice Hotels prior to Dragisich’s appointment, will continue to serve as the company’s chief accounting officer and senior vice president of finance.

Dragisich previously served as the chief financial officer of Herndon, Virginia-based telecommunications firm XO Communications.

Choice Hotels reported yearly revenue of $924.6 million in 2016, up 7.5 percent from 2015, and a 6 percent increase in operating income for the year, to $238.9 million, according to a regulatory filing dated Feb. 27. It reported assets totaling $852.5 million, as of Dec. 31, 2016.

The company owns the hotel and motel brands Comfort Inn, Comfort Suites, Quality Inn, Sleep Inn, Cambria Hotel & Suites and Mainstay Suites, among others.

The filing can be found here.

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

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