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Stock Market & Financial Investment News

News Breaks
February 5, 2014
06:04 EDTMYGN, SFESafeguard 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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April 24, 2014
06:20 EDTSFESafeguard Scientifics sees FY14 partner company aggregate revenue $345M-$365M
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06:10 EDTSFESafeguard Scientifics reports Q1 EPS $1.29, consensus $1.33
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