In a roundup of SEC filings news affecting the N.C. tech and life science economy:
- Quintiles founder Dennis Gillings sells nearly $100 million in Quintiles IMS shares
- BioDelivery Sciences is paying its retiring CEO a nice walk-away present
- Food Matters Markets looks to raise cash.
The details, as reported by North Carolina Business News Wire:
- Large shareholders sell Quintiles stock
By Bryce Lapping
DURHAM — Several large shareholders have sold stock Quintiles IMS Holdings Inc., according to filings with the Securities and Exchange Commission.
Canada Pension Plan Investment Board Private Holdings Inc. sold over $500 million worth of Quintiles IMS Holdings stock Wednesday.
The Toronto-based CPP sold 5.22 million shares at a price of $97.33, according to a Form 4 filed with the Securities and Exchange Commission.
The public retirement fund, which is one of two in Canada, now directly owns 15.29 million shares and another 13.73 million through its subsidiaries.
The transaction comes just two days after David Bonderman’s TPG Group Holdings Advisors Inc. sold more than $367 worth of Quintiles IMS Holdings shares.
TPG Group Holdings Advisors disposed of 3.77 million shares at a price of $97.33, according to another Form 4 filed with the SEC.
In addition, former Chief Executive Officer Dennis Gillings sold $94.2 million worth of shares on Monday, according to a filing.
Gillings sold 968,000 shares at a price of $97.33 a share.
QuintilesIMS is a global health care company that dedicates itself to “improving clinical, scientific and commercial results,” according to its website.
Quintiles IMS Holdings closed August 30 at $95.79, falling 8 cents from an opening of $95.87.
- BioDelivery Sciences will pay $1.57 million to its retiring CEO
By Emily Brice
RALEIGH – BioDelivery Sciences International Inc. will pay its retiring chief executive officer a $1.574 million retirement package, according to a filing with the Securities and Exchange Commission.
The Raleigh-based pharmaceutical company filed an 8-K with the SEC on Aug. 23, which said that Mark Sirgo’s exact retirement date would be Jan. 2, 2018.
Following the retirement date, Sirgo will serve as the vice chairman of the board and director of the company until his term is concluded in 2019.
Sirgo will receive a cash payment of $787,000 within 10 days of the signature date and another $787,000 on Jan. 15, 2018. If there has been a change in company control before or within a year after the retirement date, the company has agreed to give Sirgo an additional cash payment of $236,000.
BioDelivery Sciences is a pharmaceutical company that deals specifically with pain management and addiction. Some of the products the company markets address serious conditions such as cancer pain, chronic pain and opioid addiction. Its approved drugs include Belbuca, Bunavail and Onsolis.
Sirgo joined BioDelivery Sciences in August 2004 as senior vice president of commercialization and corporate development upon its acquisition of Arius Pharmaceuticals, which he was the co-founder and CEO.
Sirgo was promoted to president in January 2005, and CEO in in August of that same year. He received his BS in pharmacy from Ohio State University and his doctorate from Philadelphia College of Pharmacy and Science.
- Brevard-based Food Matters Markets hopes to raise $400,000
By Lindsey Welch
BREVARD – A community-oriented market offering healthy food, grown locally in the region, is hoping to raise $400,000, according to a Securities and Exchange Commission filing.
This is the first fundraising being made by Food Matters Markets Inc. It is being offered in the form of debt and is not being made in connection with a merger, acquisition or exchange offer.
Founded in 2012, Food Matters Markets prioritizes partnering with local farmers and businesses in order to ensure customers receive fresh and local grocery items to support local economies and preserve natural resources. It is based on the motto “Quality Matters, Local Matters, Health Matters, Food Matters.”
The market currently has three locations in North Carolina: Brevard, Hickory and Morganton.
Michael Cianciarulo, chief executive officer and co-owner of Food Matters Markets, has experience in the supermarket industry from working for Gooding’s Supermarkets and from being CEO of Earth Fare between 1998 and 2008.