California BanCorp Reports Financial Results for the Fourth Quarter and Twelve Months Ended December 31, 2020
January 28, 2021 19:54 ET | Source: California BanCorp California BanCorp Oakland, California, UNITED STATES
OAKLAND, Calif., Jan. 28, 2021 (GLOBE NEWSWIRE) California BanCorp (NASDAQ: CALB), whose subsidiary is California Bank of Commerce, announced today its financial results for the fourth quarter and twelve months ended December 31, 2020.
The Company reported net income of $1.8 million for the fourth quarter of 2020, representing an increase of $1.3 million or 261% compared to $495,000 for the third quarter of 2020 and an increase of $1.2 million or 209% compared to $578,000 in the fourth quarter of 2019. For the twelve months ended December 31, 2020, net income was $4.3 million representing a decrease of $2.7 million or 39% compared to $7.0 million for the same period in 2019.
Rackspace refinancing nearly $2.9B in debt
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Kevin Jones most recently served as CEO of MV Transportation, the country’s largest privately-owned transportation contracting firm.Courtesy of Rackspace
San Antonio cloud-computing company Rackspace Technology Inc. is taking advantage of low interest rates and refinancing nearly $2.9 billion in debt.
The company outlined the plan in a Securities and Exchange Commission filing on Tuesday.
Rackspace is looking to use proceeds from a new $2.2 billion term loan, along with an additional $650 million in debt, “to repay all borrowings outstanding under the Company’s existing term loan facility,” according to the filing.
The firm incurred around $3.5 billion in debt at roughly 8 percent interest in its 2016 leverage buyout by Apollo Global Management, according to Karan Bhanot, finance department chairman and professor at University of Texas at San Antonio.
China Biologic Announces Extraordinary General Meeting of Shareholders
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BEIJING, Jan. 25, 2021 /PRNewswire/ China Biologic Products Holdings, Inc. (NASDAQ: CBPO, China Biologic or the Company ), a leading fully integrated plasma-based biopharmaceutical company in China, today announced that it has called an extraordinary general meeting of shareholders (the EGM ) to be held on March 1, 2021 at 10:00 a.m. (Beijing time), at the principal office of the Company located at 18th Floor, Jialong International Building, 19 Chaoyang Park Road, Chaoyang District, Beijing, China, to consider and vote on, among other matters, the proposal to authorize and approve the previously announced agreement and plan of merger, dated as of November 19, 2020 (the Merger Agreement ), among the Company, CBPO Holdings Limited ( Parent ) and CBPO Group Limited ( Merger Sub ), the plan of merger required to be filed with the Registrar of Co
Mid-Con Energy Partners unitholders receive 1.75 Contango share per MCEP unit
Contango’s and Mid-Con’s operations will be consolidated in Fort Worth, TX
As a result, John Goff, Contango’s Chairman and largest shareholder, ownership in Contango increases to 24.3%
/EIN News/ FORT WORTH, Texas, Jan. 21, 2021 (GLOBE NEWSWIRE) Contango Oil & Gas Company (NYSE American: MCF) (“Contango” or the “Company”) today announced the successful completion of its acquisition of Mid-Con Energy Partners, LP (“Mid-Con”) (NASDAQ: MCEP).
In accordance with the terms of the merger agreement, Mid-Con unitholders will receive 1.75 shares of Contango common stock for each unit of Mid-Con common units owned. Prior to the open of trading today, Mid-Con common units ceased to be listed for trading on the Nasdaq Global Select Market.
Dream Finders Homes Inc.’s stock begins trading on Jan. 21 and the timing couldn’t be better.
The Jacksonville-based homebuilder’s initial public offering of 9.6 million Class A shares was priced at $13 each late Jan. 20, clearing the way for trading to begin on the Nasdaq Global Select Market.
Not only is Dream Finders selling its stock in a strong market for its industry, but IPOs in general have been surging.
Dream Finders Homes founder and President Patrick Zalupski will retain control of his company after the initial public offering.
Major stock market indexes have reached record highs recently but stocks of homebuilders are doing even better than the overall market.