Week in Review: Exit Transactions, IPOs and Facebook Integration

Posted by | May 20, 2011

Week in Review: Exit Transactions, IPOs and Facebook Integration

In case you missed it, it’s been a big week for Safeguard Scientifics.

Earlier this week, we announced that one of our life science partner companies, Advanced BioHealing (ABH), signed a definitive agreement to be acquired by a world leading specialty biopharmaceutical company, Shire PLC, for $750 million. The transaction is expected to close late second quarter or early third quarter 2011, with Safeguard receiving aggregate cash proceeds of more than $140 million. The ABH deal is our third substantial exit transaction in the past six months following the successful exits of Clarient and Avid Radiopharmaceuticals, which took place December of last year.
In other news, our President and CEO, Peter J. Boni, was named a finalist for the 2011 Ernst & Young Entrepreneur of the Year in Greater Philadelphia. Through Peter’s vision and guidance, Safeguard has rebuilt its reputation among entrepreneurs, syndicate partners and the larger investment community.
Outside of Safeguard, the big tech news this week was LinkedIn’s IPO, which opened at $83 on the New York Stock Exchange, up 84% from its initial public offering price of $45. By the market’s 4 p.m. close, the stock had soared 109% to $94.25. At the end of the day, LinkedIn was worth $8.9 billion.

News from Safeguard’s partner companies…

  • Swap.com also announced its new Facebook integration campaign, providing users with a more personalized, connected experiences and helping swappers find new things their friends Like on Facebook.

Next week, our CFO, Steve Zarrilli will be presenting at the 12th Annual B. Riley & Co. investor conference in Santa Monica, CA on Tuesday, May 24th at 10:30am PT / 1:30pm ET. The presentation will be webcast at safeguardscientifics.com/BRiley. Also, Safeguard will be hosting its Annual Meeting of Shareholders on Thursday, May 26th at 8:00am ET. For those who are unable to attend, the presentation will be webcast and archived at ir.safeguard.com/events.cfm.

Be sure to check back over the coming weeks for our “Week in Review” series, where we will showcase more exciting developments at Safeguard and our partner companies, examine trending topics and weigh in on breaking news around the globe.

To read more of our “Week in Review” series, please use the following feed:safeguardscientifics.com/WeekInReview. Enjoy your weekend!

(Visited 105 times, 1 visits today)

Tags: , , , , , , , , , , , , , , , , , ,

Related Posts