Boston, MA 03/21/2014 (wallstreetpr) –Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM), which is a specialty foundry dedicated to the manufacture of semiconductors, has entered into a definitive agreement with specific existing US as well as offshore institutional holders. As per this agreement, Tower will issue unsecured bonds in place for approximately $45 million in aggregate principal amount of the $94 million aggregate principal amount of 8% senior bonds due June 2015.In addition, certain of the participating bondholders have agreed to purchase about $10m principal amount of the new bonds maturing 2018. These transactions will positively impact Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM)’s balance sheet through reduction of nearly $55 million of net debt due in June 2015. In the recent past, the company has also received a ‘Buy’ rating from Ascendiant Capital.
On Wednesday, Heat Biologics Inc (NASDAQ:HTBX) reported that it has submitted revised protocol to FDA in connection with Phase II Clinical results of its HS-110, which is meant for the treatment of patients with non-small cell lung cancer. The drug is the company’s first candidate that is developed to target cancer cells directly. These revised protocol is designed specifically to increase its utility for anticipated future combinations with checkpoint inhibitors when they are launched into the market. This comes in light of the present revolutionizing advancement attained in studying checkpoint inhibitors for treatment of cancer.
Envivio Inc (NASDAQ:ENVI) soared to a new high on Thursday after the Internet Protocol video processor and distributor declared its fourth quarter results. The earnings per share of the company stood at ($0.05), which is higher than the market estimate of ($0.09). Moreover, the revenue of the company during this period came nearly 62% higher to $12.48 million, which is above the set expectation by $0.75 million. For the full year 2013, the company’s revenue grew 10% to $43.2 million.According to Envivio Inc (NASDAQ:ENVI), the solid growth in the fourth quarter was mainly on account of better performance of its sales unit.
