After-Hours Movers 9/22: FUL, ALN Higher; DAC, INCY, ATPG, BLC, PNNT, GDP, IMA Lower
Danaos Corporation (NYSE: DAC) 12% LOWER; announced that it has now obtained waivers covering all prior breaches of financial covenants in its credit facilities as well as any subsequent breaches of these covenants until October 1, 2010. Danaos Corporation also announced that the charterer of six of its containerships, Zim Integrated Shipping Services Ltd., has stated that it is reducing, unilaterally, all of its long-term charterhire payments to ship-owners by 35% commencing September 1, 2009 and for an indicated period of three years. Danaos has not accepted this offer, nor acquiesced to this reduction, and it is in discussions with Zim and evaluating the situation. The vessels that Danaos charters to Zim are currently operating under 12-year time charters. Zim is not a charterer of any of Danaos' newbuilding containerships.
Incyte Corporation (Nasdaq: INCY) 10.6% LOWER; announced that it intends to offer to sell, subject to market and other conditions, 18,000,000 shares of its common stock in an underwritten public offering. In connection with the offering, the Company expects to grant the underwriters a 30-day option to purchase an additional 2,700,000 shares of common stock. All of the shares will be offered by the Company.
ATP Oil & Gas Corporation (NASDAQ: ATPG) 9.4% LOWER; today announced that it has commenced an underwritten public offering of 5.3 million shares of its common stock. The underwriters for the offering will also have the option to purchase up to 0.795 million additional shares of common stock to cover any over-allotments. ATP intends to use the net proceeds from the offering to fund capital expenditures, primarily at its Telemark location in the deepwater Gulf of Mexico, to reduce indebtedness and for general corporate purposes.
Belo (NYSE: BLC) 7.4% LOWER; files an S-3 to sell up to $600 million in a debt offering.
PennantPark Investment Corporation (NASDAQ: PNNT) 7.1% LOWER; announced that it plans to make a public offering of 8,000,000 shares of its common stock. The Company has also granted the underwriters an option to purchase up to an additional 1,200,000 shares of common stock to cover over-allotments, if any. The offering price of the shares will be determined by market conditions at the time of pricing in consultation with the underwriters of the offering. The offering of the shares will be made under the Company's shelf registration statement, which was filed with, and has been declared effective by, the Securities and Exchange Commission.
Goodrich Petroleum Corporation (NYSE: GDP) 6.4% LOWER; has commenced an underwritten public offering, subject to market and other conditions, of $150 million aggregate principal amount of convertible senior notes. The underwriters for the offering will also have the option to purchase up to $22.5 million principal amount of additional notes solely to cover any over-allotments.
Inverness Medical Innovations, Inc. (NYSE: IMA) 5.6% LOWER; intends to offer $100 million of senior notes due 2016 through a private placement, subject to market and other conditions. Inverness intends to use the net proceeds from the offering solely to fund its previous announced acquisition of Free & Clear, Inc.
H.B. Fuller Company (NYSE: FUL) 4.1% HIGHER; reports Q3 EPS of $0.48, ex-items, 12 cents better than the analyst estimate of $0.36. Revenue for the quarter was $315.3 million, which compares to the estimate of $315.45 million. Sees Q4 sales about $330 million, versus the consensus of $332 million.
Calpine Corporation (NYSE: CPN) 4.1% LOWER; announced today a public secondary offering of 20,000,000 shares of its common stock by Harbinger Capital Partners Master Fund I, Ltd. In addition, Harbinger intends to grant the underwriter an option to purchase an additional 3,000,000 shares. The company will not receive any proceeds from this offering.
QIAGEN N.V. (Nasdaq: QGEN) 2.3% LOWER; announces the launch of a placement of up to 27.5 million newly issued common shares through a bookbuilding process. In addition, the Company will grant the underwriters an option to purchase up to 4.125 million additional newly issued common shares solely to cover over-allotments, if any.
American Lorain Corporation (NYSE: ALN) 2.1% HIGHER; announced that it has started cooperating with KUNGFU Catering Management Co., Ltd. and CSC Catering Management Co., Ltd.
To get this report daily, visit http://www.streetinsider.com/entities/After-Hours+Movers.
Create E-mail AlertRelated Categories
Special ReportsStocks Mentioned
+0.00Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
