Phoenix Technologies Ltd. (NASDAQ: PTEC) shares gained nearly 25.17% in pre-market trading from the previous close of $3.02. The stock price stands at pre market last of $3.78, on a pre market volume of 7,403,390 shares. After the market open, the shares are currently trading at $3.77, with the volume at 13.72 million shares. The 52-week trading range for the stock is $4.19 - $2.02. The daily average volume of the stock 215,902 shares. The company has 50 day moving average of $3.00 and 200 day moving average of $3.01. The market capitalization of the company is $132.38 million. The stock has sustenance and resistance level in range of $2.98 and $3.13 respectively. The 1-year target estimate is $3.75.
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Yesterday, the company announced its merger agreement with affiliates of Marlin Equity Partners under which Marlin will acquire all outstanding shares of Phoenix Technologies common stock for $3.85 per share in cash, or approximately $139.00 million in total consideration. The purchase price represents a premium of approximately 27% over Phoenix's closing share price of $3.02 on August 17, 2010, the last trading day prior to the public announcement of Marlin's proposal to acquire Phoenix for $3.85 per share in cash. Also a premium of approximately 25% over Phoenix's average closing share price for the 30 trading days ending on August 17, 2010.
Phoenix Technologies is a leader in core systems software products, services and embedded technologies.
Windstream Corporation. (NASDAQ: WIN) shares gained nearly 0.96% in pre-market trading from the previous close of $11.49. The stock price stands at pre market last of $11.60, on a pre market volume of 1,010,855 shares. After the market open, the shares are currently trading at $11.48 with the volume at 2.05 million shares. The 52-week trading range for the stock is $11.82 - $6.02. The daily average volume of the stock is 4.57 million shares. The company has 50 day moving average of $11.20 and 200 day moving average of $10.46. The market capitalization of the company is $5.24 billion. The stock has sustenance and resistance level in range of $11.39 and $11.56 respectively.
Yesterday, the company announced its agreement to acquire Q-Comm Corporation, a privately held regional fiber transport and competitive local exchange carrier in a transaction valued at approximately $782.00 million. The transaction includes Q-Comm's wholly owned subsidiaries Kentucky Data Link, a fiber services provider in 22 states and Norlight, a competitive local exchange services company primarily serving the Midwest. The company expects to issue approximately 20.6 million common shares valued at $237.00 million based on its closing share price on August 17 of $11.49 and pay approximately $278.00 million in cash consideration for outstanding equity interests in Q-Comm. It will also repay estimated Q-Comm debt balances of approximately $267.00 million, net of cash acquired.
This transaction supports the Windstream's strategy to become a next-generation telecom provider focused on broadband and enterprise customers.
Windstream Corporation is a telecommunications company that provides phone, high-speed Internet and digital television services
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PennantPark Investment Corporation (NASDAQ: PNNT) shares decreased nearly 6.00% in pre-market trading from the previous close of $10.67. The stock price stands at pre market last of $10.03, on a pre market volume of 266,019 shares. After the market open, the shares are currently trading at $10.14, with the volume at 1.62 million shares. The 52-week trading range for the stock is $12.01 - $7.49. The daily average volume of the stock is 263,848 shares. The company has 50 day moving average of $10.03 and 200 day moving average of $9.44. The market capitalization of the company is $320.00 million. The stock has sustenance and resistance level in range of $10.38 and $10.76 respectively.
Today, the company announced its agreement to sell 4,000,000 shares of common stock at a public offering price of $10.15 per share, raising approximately $40,600,000 in gross proceeds. The company expects to use the net proceeds for general corporate or strategic purposes, including repayment of outstanding indebtedness, funding investments in accordance with its investment objectives and to capitalize PennantPark SBIC.
PennantPark Investment Corporation is a business development company, which principally invests in U.S. middle-market private companies in the form of mezzanine debt, senior secured loans and equity investments.
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