Chris Roush

Durham’s Fennec Pharmaceuticals raises $7.6M

Posted by Chris Roush | Jun 9, 2017

Biotech company Fennec Pharmaceuticals has raised $7.6 million in a private equity offering, according to a filing Thursday with the Securities and Exchange Commission. The money came from seven investors who purchased 1.9 million shares at $4 per share, according to the filing. Essetifin SpA, which owned 2.6 million shares, or 19.2 percent, of Fennec prior to the offering, purchased an additional 300,000 shares and now owns more than 21 percent of the Durham-based company. Fennec said it will use the money to develop one of its drugs and for general corporate purposes. “The investment and support received by...

Duke oncology startup Istari raises another $1.1M

Posted by Chris Roush | May 30, 2017

An oncology startup company based in the Research Triangle Park has raised another $1.1 million in a private equity offering, according to a filing Friday with the Securities and Exchange Commission. Istari Oncology Inc. raised the money from 10 investors and is seeking to raise another $2.9 million, according to the filing. It’s the second fund raising for the company this year. In February, it raised nearly $4 million. The company was founded in 2014 as a Duke University start-up and works to cure recurrent glioblastoma. Executive officers and directors Dani Bolognesi, Henry Friedman and Darell Bigner lead the...

Cree to pay outgoing CEO Swoboda at least $2.8 million

Posted by Chris Roush | May 25, 2017

Lighting and semiconductor technology firm Cree will pay outgoing Chief Executive Officer Charles Swoboda more than $2.8 million as part of a severance agreement, according to a filing Wednesday with the Securities and Exchange Commission. Swoboda will receive 18 months pay based on his current annual salary of $785,000, which is more than $1.77 million. In addition, the outgoing CEO will receive nearly $1.65 million as a bonus. He’s also eligible for a bonus based on the company’s 2018 performance. Swoboda will also receive a lump sum payment of 18 times the COBRA premium applicable to the type of medical, dental...

Benson Hill Biosystems raises another $6.5M

Posted by Chris Roush | May 12, 2017

A Durham-based agriculture biotech company has raised an additional $6.5 million in a private equity offering, according to a Form D filed Wednesday with the Securities and Exchange Commission. Benson Hill Biosystems Inc. had earlier raised $18.5 million in March. The current private equity raise came from 16 investors. Benson Hill Biosystems is a plant genomics company. It uses technologies and biological expertise to help organizations advance products to market faster and to tackle challenges in crop development. Matthew Crisp is the president and chief executive officer of the company. Prior to co-founding Benson Hill Biosystems, he was the president...

Raleigh-based health care and pharmacy services company raises nearly $2 million

Posted by Chris Roush | May 11, 2017

A Raleigh-based health care and pharmacy services company has raised $1.95 million in a private equity offering, according to a filing Wednesday with the Securities and Exchange Commission C3 HealthcareRx raised the money from seven investors, with the lowest investment being $25,000. It is seeking to raise an additional $5.5 million. The company provides health care and pharmacy services that helps its clients improve health outcomes and generate savings through accurate medication reconciliation, comprehensive medication education, in-home medication reconciliation and effective medication management. The company has clients in Florida, Kentucky, North Carolina, Ohio and Virginia. Susan Weaver is the...

Asheville-based Innovation Solar raises $14.9M

Posted by Chris Roush | May 10, 2017

An Asheville, North Carolina-based solar company has raised $14.9 million in a private offering, according to a filing Tuesday with the Securities and Exchange Commission. Innovation Solar Ventures LLC, which operates as Innovation Solar Systems, raised the money from one investor, according to the filing. The 30-year-old company installs renewable energy solar systems of all types and sizes. John Green and Richard Green signed the filing. They are the managing partners at Innovative Solar Systems and have years of experience with designing and securing approvals for their world-class solar farms that now have a large footprint in the United...

NY-based investor upset with Xerium Technologies over CEO change

Posted by Chris Roush | May 4, 2017

New York-based investor that owns 5.9 percent of Youngsville-based Xerium Technologies is upset with the paper products manufacturing company for replacing its chief executive officer just as its turnaround strategy begins to show results. In a filing Wednesday with the Securities and Exchange Commission, Wynnefield Capital Management called the...

Red Hat’s CEO sells another $4.1M in shares

Posted by Chris Roush | May 3, 2017

The chief executive officer of Red Hat Inc. sold another $4.1 million in company stock on Monday, according to a filing with the Securities and Exchange Commission. James Whitehurst sold 47,608 shares at prices ranging from $87.68 to $88.35 on Monday, according to the filing. He still owns more than 397,000 shares in the open source software company that is worth approximately $35 million. Whitehurst has been selling shares regularly in recent months. On April 20, he sold 26,250 shares of the company’s stock at an average price of $86.85, for a total value of $2.3 million. And in...

NC safety product firm being sold to 3M for $2B

Posted by Chris Roush | Mar 16, 2017

M announced Thursday that it plans to acquire Monroe, North Carolina-based Scott Safety, which manufactures safety equipment such as gas detection instruments, for $2 billion in cash and debt to expand its market share in that business. Scott Safety is currently owned by Johnson Controls International Plc. It had revenue of $570 million in 2016 and employs 1,500 people around the world. It has a manufacturing facility in Union County that employs nearly 600 people. The company manufactures products that help firefighters, police, military and rescue teams. 3M operates a safety division that makes items such as protective clothing...

Posts by Chris Roush