(changes since previous London equities close) ![]() OIL (Brent): higher at USD87.53 a barrel (USD86.35) Here is what you need to know ahead of the London market open:įTSE 100: called down 68.3 points, 1.0%, at 6,825.51 Halma announced the acquisition of a medical consumable device maker. In local corporate news, Essentra named a new chief executive officer and announced the disposal of its Filters business. "The sad reality is that if there is something wrong with Credit Suisse, then we have a major issue as this is a gigantic institute, and the domino effect will be unbearable for most central banks, especially pension funds," Avatrade analyst Naeem Aslam continued. ![]() Koerner told staff not to confuse its recent share price slide with a sign that the bank's day-to-day performance is weakening. In a memo, Chief Executive Officer Ulrich Koerner told staff that the Swiss bank has a "strong capital base and liquidity position". The Telegraph reported that the Bank of England has been monitoring developments at the financial services firm, liaising with Swiss banking watchdogs.Ĭredit Suisse moved to reassure its staff in the face of market turmoil and a stock price slide, Bloomberg reported on Friday. Meanwhile, concerns mounted over the weekend for Credit Suisse. "We get it and we have listened," Kwarteng said in a statement. The public offering price of the common stock shares was $5.00 per share with gross proceeds of $57,500,00 including over-allotment option.(Alliance News) - Stocks were called lower on Monday as UK Chancellor Kwasi Kwarteng reneged on tax cut plans, and as unease grows over Credit Suisse's credit default swaps.ĭominating the headlines after his poorly-received "mini-budget", UK Chancellor Kwarteng is now made an abrupt U-turn over the abolition of the top rate of income tax for the highest earners. On June 25, 2021, EYES announced the successful closing of its underwritten public offering of 11,5000,000 common stock shares. National Institutes of Health awarded the grant supplement to fund its study for insights into risk and benefits analysis by blind people for neuroprostheses. On August 11, 2021, the company announced a new NIH grant supplement for its Orion study. Subsequently, the company’s shareholders will have a 23% equity share in the combined company. In addition, 134 million common stock shares will be issued by EYES for the complete ownership of NPM. And the merger is expected to close somewhere in the second or third quarter of 2022. The proposed merger agreement has been approved by the boards of both the involved companies. AstraZeneca has been a strategic investor in NPM since 2016. Upon the completion of the merger, EYES shareholders will join NPM shareholders as well as AstraZeneca. Furthermore, the focus of the newly-formed merged company will be the development of innovative implants for chronic diseases.īefore the merger, the company will provide $8 million to NPM for working capital and to speed up pipeline programs. The surviving company Nano Precision Medical will be owned by Second Sight. Under the agreement, in an all-stock transaction, NPM will merge with a wholly-owned subsidiary of EYES. EYES’ Merger AgreementĪs per the announcement, the companies have entered into a definitive merger agreement. Moreover, EYES lost a value of 44.88% last year. The 39.41 million outstanding shares of the company have declined by 14.11% year to date. Currently, the company has a market capitalization of $53.6 million. The implantable visual prosthetics developer, Second Sight Medical Products Inc. The after-market session witnessed a hefty volume of 1.45 million shares on Monday. ![]() Consequent to the announcement, the stock went up to reach $1.6100 in the after hours. EYES closed the session at $1.400 with a gain of 2.94% at a volume of 1.6 million shares. ![]() (NPM) announced Merger Agreement for creating a leading therapeutic implant company.ĭuring the regular trading session, the stock fluctuated between a high of $1.4107 and a low of $1.3600. On February 07, Second Sight Medical Products Inc. Following the announcement of a merger agreement, EYES stock added a huge 15.00% in the after-hours on Monday.
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