Shares of Cleveland BioLabs, Inc. (CBLI) soared more than 25% in extended-hours trading Wednesday after the company disclosed in an SEC filling that it has entered into a definitive stock purchase agreement with David Davidovich, a venture capital investor, for the sale of 6,459,948 unregistered common shares at a price of $3.87 per share for an aggregate of $25 million.
As part of the deal, CBLI will enter into a Registration Rights Agreement with the purchaser and will expand the size of the Board from 6 to 13 members, 7 of which will be appointed by the new investor.
CBLI anticipates closing of the private placement to occur on or around July 6, 2015. Upon the closing and issuance of the shares, David Davidovich will own approximately 60.59% stake in the company
CBLI is an innovative biopharmaceutical company seeking to develop first-in-class pharmaceuticals designed to address diseases with significant medical need.
More about Cleveland BioLabs, Inc. (CBLI) at www.cbiolabs.com
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Herman Miller Inc. (MLHR) delivered stronger-than-expected quarterly financial results and increased its dividend for the fourth time in the past three years.
For its fourth quarter fiscal 2015, MLHR posted net sales of $550.7 million and non-GAAP earnings of $0.47 per diluted share, exceeding the Capital IQ Consensus Estimate of $0.41 earnings per share on revenues of $543 million for the period.
MLHR expects net sales in its first quarter fiscal 2016 to be in the range of $545 million to $565 million, which would represent an increase of between 7% and 11% versus the same period the prior year.
MLHR also announced an increase in its quarterly cash dividend to $0.1475 per share payable in October 2015, representing an increase of over 5% from the current dividend payout of $0.14 per share
MLHR is engaged in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, and related services in the United States and internationally.
More about Herman Miller Inc. (MLHR) at www.hermanmiller.com
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Crown Equity Holdings Inc. (CRWE) provides marketing solutions that boost customer awareness and merchant visibility on the Internet.
The company is currently developing its growing network of community targeted sites CRWE PR, expected to be a one-stop shop for the various needs of consumers.
CRWE PR Network’s business model is based on selling advertising to businesses targeting both locally and nationally
CRWE‘s Curbiz ( www.curbiz.com ), in development stage, is an online business directory connecting people with local, state, country and global businesses. Curbiz will provide local advertising services, including free and paid business listing services to businesses of various sizes, as well as enable businesses to deliver targeted search advertising to large local audiences through its Website network and partnership with CRWE PR.
More about Crown Equity Holdings Inc. (CRWE) at www.crownequityholdings.com
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Disclaimer: CRWE-PR Finance is not a registered investment adviser. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Investors should always conduct their own due diligence with any potential investment, with independent research and other professional advice. Read Full Disclaimer at CRWE-PR Finance www.finance.crwe-pr.com/disclaimer
As part of the deal, CBLI will enter into a Registration Rights Agreement with the purchaser and will expand the size of the Board from 6 to 13 members, 7 of which will be appointed by the new investor.
CBLI anticipates closing of the private placement to occur on or around July 6, 2015. Upon the closing and issuance of the shares, David Davidovich will own approximately 60.59% stake in the company
CBLI is an innovative biopharmaceutical company seeking to develop first-in-class pharmaceuticals designed to address diseases with significant medical need.
More about Cleveland BioLabs, Inc. (CBLI) at www.cbiolabs.com
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Herman Miller Inc. (MLHR) delivered stronger-than-expected quarterly financial results and increased its dividend for the fourth time in the past three years.
For its fourth quarter fiscal 2015, MLHR posted net sales of $550.7 million and non-GAAP earnings of $0.47 per diluted share, exceeding the Capital IQ Consensus Estimate of $0.41 earnings per share on revenues of $543 million for the period.
MLHR expects net sales in its first quarter fiscal 2016 to be in the range of $545 million to $565 million, which would represent an increase of between 7% and 11% versus the same period the prior year.
MLHR also announced an increase in its quarterly cash dividend to $0.1475 per share payable in October 2015, representing an increase of over 5% from the current dividend payout of $0.14 per share
MLHR is engaged in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, and related services in the United States and internationally.
More about Herman Miller Inc. (MLHR) at www.hermanmiller.com
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Crown Equity Holdings Inc. (CRWE) provides marketing solutions that boost customer awareness and merchant visibility on the Internet.
The company is currently developing its growing network of community targeted sites CRWE PR, expected to be a one-stop shop for the various needs of consumers.
CRWE PR Network’s business model is based on selling advertising to businesses targeting both locally and nationally
CRWE‘s Curbiz ( www.curbiz.com ), in development stage, is an online business directory connecting people with local, state, country and global businesses. Curbiz will provide local advertising services, including free and paid business listing services to businesses of various sizes, as well as enable businesses to deliver targeted search advertising to large local audiences through its Website network and partnership with CRWE PR.
More about Crown Equity Holdings Inc. (CRWE) at www.crownequityholdings.com
**
Disclaimer: CRWE-PR Finance is not a registered investment adviser. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Investors should always conduct their own due diligence with any potential investment, with independent research and other professional advice. Read Full Disclaimer at CRWE-PR Finance www.finance.crwe-pr.com/disclaimer
