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Stock Market & Financial Investment News

News Breaks
February 5, 2014
06:04 EDTSFE, MYGNSafeguard Scientifics expects $40M from Crescendo sale to Myriad
Safeguard Scientifics (SFE) announced that its partner company, Crescendo Bioscience, signed an amended agreement to be acquired by Myriad Genetics (MYGN) for $270M, in cash, minus $25M for the repayment of a loan made to Crescendo by Myriad in 2011. The transaction is expected to close in the fiscal quarter ending March 31, 2014. Safeguard expects to receive approximately $40M in aggregate cash proceeds pending final closing calculations. Safeguard has deployed $11M in Crescendo since December 2012 and has a 13% primary ownership position. Stephen Zarrilli, CEO at Safeguard, said, "Safeguard begins 2014 with tremendous momentum, having recently announced exits transactions for Safeguard’s partner companies Alverix, Inc., NuPathe Inc., ThingWorx, Inc., and now Crescendo Bioscience. We continue to build a robust pipeline of new and exciting opportunities while we are equally focused on identifying well-timed exits to maximize value for our shareholders."
News For SFE;MYGN From The Last 14 Days
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July 28, 2014
10:02 EDTSFEOn The Fly: Analyst Upgrade Summary
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06:37 EDTSFESafeguard Scientifics upgraded to Overweight from Equal Weight at First Analysis
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July 24, 2014
09:16 EDTSFESafeguard Scientifics backs FY14 partner company aggregate revenue $345M-$365M
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09:16 EDTSFESafeguard Scientifics reports Q2 EPS (35c), consensus (47c)

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