CCSC, MAG, PROT Stock Market News Report from PennyOtcStock.com
September 30th, 2010
The News Desk
Country Style Cooking Restaurant Chain Co., Ltd (NYSE:CCSC), a fast-growing quick service restaurant chain in China, recently announced that it has priced its initial public offering of 5,000,000 American Depositary Shares, each representing four ordinary shares of CCSC, at US$16.50 per ADS, with a total offering size of US$82.5 million, assuming no exercise of the over-allotment option. The ADSs will begin trading on the New York Stock Exchange on September 28, 2010 under the symbol “CCSC.”
The underwriters have been granted a 30-day option to purchase up to 750,000 additional ADSs to cover over-allotments.
Merrill Lynch, Pierce, Fenner & Smith Incorporated and Credit Suisse Securities (USA) LLC acted as joint bookrunners and Cowen and Company, LLC and Piper Jaffray & Co. acted as co-managers for the offering.
Country Style Cooking Restaurant Chain Co., Ltd is a fast-growing quick service restaurant chain in China, offering delicious, everyday Chinese food to customers who desire fast and affordable quality meals. CCSC directly operates all of its restaurants and is the largest quick service restaurant chain in Chongqing municipality, home to Sichuan cuisine, one of the best-known Chinese regional cuisines.
Magnetek, Inc. (NYSE:MAG) recently announced that the New York Stock Exchange (“NYSE”) notified MAG on September 20, 2010, that it has accepted MAG’s proposed plan for continued listing on the NYSE. The Listings and Compliance Committee of the NYSE has chosen, at its discretion, to truncate the plan period for regaining compliance with the continued listing standards from 18 months to 12 months, given MAG’s recurrence of having fallen below the continued listing standards.
As a result of the NYSE’s acceptance of Magnetek’s plan, MAG’s stock will continue to be listed on the NYSE, pending quarterly reviews by the Committee to assess progress against the plan. MAG has until June 2011 to regain compliance with the NYSE’s continued listing standards.
As previously disclosed in a press release issued and Form 8-K filed on June 24, 2010, MAG received a notice from the NYSE that it was considered “below criteria” because MAG’s total average market capitalization over a consecutive 30-day trading period and its most recently reported stockholders’ equity each amounted to less than $50 million.
Magnetek, Inc. provides digital power control systems North America. MAG’s systems control motion and power primarily in material handling, elevator, and energy delivery applications. MAG offers power control and delivery systems and solutions for overhead material handling applications used in industries, such as aerospace, automotive, steel, aluminum, paper, logging, mining, ship loading, nuclear power plants, locomotive yards, and heavy movable structures.
Proteonomix, Inc., (OTCBB:PROT.OB)a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives, is the majority shareholder in XGen with the balance held by an anonymous investor group. PROT personnel were on the ground in the U.A.E. over the past weeks to work together with the Investor Group through the start up phase. To date, XGen has established an office in the Monarch Office Tower on the prestigious Sheikh Zayed Road, and a residence for visiting PROT personnel on Jumeira 2.
Proteonomix is a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives. Proteoderm, Inc. is a wholly owned subsidiary of Proteonomix that has recently opened its retail web site, Proteoderm.com, and begun accepting pre-orders for its anti-aging line of skin care products. StromaCel, Inc.’s goal is the development therapeutic modalities for the treatment of Cardiovascular Disease. StromaCel, Inc. is pursuing the licensing of other technologies for therapeutic use.
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Posted in Business News | Tags: country style cooking restaurant chain, magnetek, Michael Cohen, nyse:ccsc, nyse:mag, otc:prot, Peter M. McCormick, PROT.OB, Proteonomix
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