On Friday, Shares of Immunomedics, Inc. (NASDAQ:IMMU), subtract -1.15% and closed at $2.58 in the last trading session. The last trading range of the stock ranges between $2.52 and $2.66. The company’s Market capitalization is $244.78 million with the total Outstanding Shares of 105.83 million. Immunomedics, Inc., (IMMU) recently declared that it has priced an underwritten offering of 10,000,000 shares of common stock and warrants to purchase up to 10,000,000 shares of common stock with anticipated gross proceeds of $30 million. Each share of common stock and accompanying warrant will be priced at $3.00. The warrants will be exercisable six months following the date of issuance, will expire on the second anniversary of the date of issuance and have an exercise price of $3.75.
Immunomedics intends to use the proceeds from the offering mainly in continuing support of clinical and regulatory activities for IMMU-132, counting submission of a NDA to FDA for accelerated approval in metastatic triple-negative breast cancer, and for working capital and general corporate purposes.
Wells Fargo Securities, LLC is acting as sole book-running manager. The closing of the offering is subject to certain customary conditions, and is expected to occur on or about October 11, 2016.
Hormel Foods Corp (NYSE:HRL), jumped 0.19% and closed at $37.45 in the last trading session. The last trading range of the stock ranges between $36.83 and $37.50. The company’s Market capitalization is $19.86 Billion with the total Outstanding Shares of 529.20 million. During the 52-week trading session the minimum price at which share price traded, registered at $32.05 and reached to max level of $45.72. Hormel Foods Corporation (HRL) recently declared several leadership appointments. James M. Splinter has been designated to the position of group vice president, corporate strategy. In this new role, Splinter will have responsibility for leading the company’s planned growth areas counting innovation, corporate development and strategy, consumer insights and building the company’s digital and e-commerce capabilities across the enterprise. Splinter will report to James P. Snee, president and chief operating officer who will assume the post of chief executive officer on October 31.
“The growth of Hormel Foods is a product of our continued focus on our formula for success as we grow our portfolio of leading consumer brands, accelerate innovation, complete evolutionary acquisitions and build our balanced portfolio,” said Snee.
“Jim Splinter has led impressive growth in our Grocery Products segment by expanding our legacy product portfolio, heading up the recent acquisitions of the SKIPPY® and Justin’s® brands and overseeing our MegaMex Foods joint venture. In this new role, Jim will be focused on enhancing our business model, both organically and through planned acquisitions, across our entire portfolio. He will also provide visionary leadership for our e-commerce capabilities, working closely with our customers to ensure that consumers have access to our products around the world, right from their devices.”
On the otherhand SunPower Corporation (NASDAQ:SPWR), dropped -5.64% and closed at $8.36 in the last trading session. The last trading range of the stock ranges between $8.28 and $8.80. During the 52-week trading session the minimum price at which share price traded, registered at $7.36 and reached to max level of $31.10. SunPower Corporation designs, manufactures, and delivers solar systems to residential, commercial, and power plant customers worldwide. It operates through three segments: Residential, Commercial, and Power Plant. The company provides solar power components, counting panels and other system components. It also offers commercial rooftop and ground-mounted solar power systems, residential mounting systems, and power plant systems, in addition to utility-scale photovoltaic power plants. In addition, the company offers operations and maintenance services, counting remote monitoring, and preventative and corrective maintenance services, in addition to rapid-response outage restoration services. Further, it leases solar power systems to residential customers; and sells inverters manufactured by third parties. The company serves shareholders, financial institutions, project developers, electric utilities, independent power producers, commercial and governmental entities, production home builders, residential owners, and small commercial building owners.