Unusual 11 Mid-Day Movers 10/3: (FVE) (VHC) (WGO) Higher; (RGSE) (GBSN) (TASR) Lower
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VirnetX Holding Corporation (NYSE: VHC) 34.0% HIGHER; announced that on September 31, 2016, a Jury in the United States Court for the Eastern District of Texas, Tyler Division, in the case VirnetX Inc., et al. v. Apple Inc., No. 6:10-cv-00417-RWS ("Apple I"), has awarded VirnetX $302.4 million in a verdict against Apple Corporation for infringing four VirnetX patents, marking the third time a federal jury has found Apple liable for infringing VirnetX's patented technology.
RGS Energy (Nasdaq: RGSE) 33.1% LOWER; reported that all of its Series A 12.5% Mandatorily Convertible Preferred Stock, stated value $1,000.00 per share (“Preferred Stock”) has been converted into shares of the Company’s Class A common stock, par value $0.0001 per share (the “Common Stock”). Through September 29, 2016, the originally issued 2,800 shares of Preferred Stock had been converted into 1,562,536 shares of Common Stock at an average conversion price of $1.77.
Great Basin Scientific (Nasdaq: GBSN) 33.1% LOWER; On October 2, 2016, Great Basin Scientific, Inc. (the “Company”) entered into separate exchange agreements (each, an “Exchange Agreement”) with each of the Buyers. The Exchange is subject to customary closing conditions, including without limitation that no unwaived event of default under the Notes exists and is continuing and that the arithmetic average of the daily dollar trading volume of our common stock during the twenty trading days prior to the Exchange is at least $300,000.
Winnebago Industries, Inc. (NYSE: WGO) 27.0% HIGHER; announced that it has entered into a definitive agreement to acquire Grand Design Recreational Vehicle Company ("Grand Design"), a manufacturer of towable recreation vehicles (RVs), for approximately $500 million in cash and newly issued Winnebago shares.
ITUS Corporation (Nasdaq: ITUS) 22.2% HIGHER; announced that it has successfully utilized its Cchek early cancer detection platform to identify the presence of Liver Cancer. Although somewhat rare in the United States, Liver Cancer is the 6th most diagnosed cancer worldwide, and 5th leading cause of cancer deaths.
Dynavax (Nasdaq: DVAX) 19.5% HIGHER; disclosed the following in a U.S. SEC filing on Monday:
Dynavax Technologies Corporation received anticipated requests for information from the U.S. Food and Drug Administration’s (“FDA”) review team in connection with the pending Biologics License Application for HEPLISAV-B [Hepatitis B Vaccine, Recombinant (Adjuvanted)]. The review team’s questions are in line with the company’s expectations.
Cabela’s Incorporated (NYSE: CAB) 14.9% HIGHER; Bass Pro Shops and Cabela’s Incorporated (NYSE: CAB) announced that they have entered into a definitive agreement under which Bass Pro Shops will acquire Cabela’s for $65.50 per share in cash, representing an aggregate transaction value of approximately $5.5 billion.
TASER International (Nasdaq: TASR) 14.2% LOWER; Ladenburg Thalmann downgraded TASER International from Buy to Neutral and removed its price target.
Ryerson Holding Corporation (NYSE: RYI) 12.4% LOWER; provided guidance for its third quarter ending September 30, 2016. The Company expects third quarter 2016 net income attributable to Ryerson Holding Corporation in the range of $8 million to $12 million and Adjusted EBITDA, excluding LIFO in the range of $46 million to $50 million. Ryerson reported third quarter 2015 net income attributable to Ryerson Holding Corporation of $7 million and Adjusted EBITDA, excluding LIFO of $30 million.
Inventergy Global (Nasdaq: INVT) 9.7% LOWER; filed to sell up to 5 million shares of common stock and warrants to purchase up to 5 million shares of common stock.
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