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Square files for IPO
2015-10-15 09:20:00| Telecompaper Headlines
(Telecompaper) Mobile payments provider Square has filed with the US Securities and Exchange Commission for an initial public offering of shares on the New York Stock Exchange. While the company has yet to set a price range for the share sale, for the purposes of paying a registration fee to the SEC it set the maximum proceeds from the IPO at USD 275 million. The company has no immediate plans for the proceeds and sees the IPO as a way to create a market for its stock. Started in 2009 by Twitter co-founder Jack Dorsey, Square offers a system for small businesses to accept card payments using a smartphone. Dorsey is still the largest shareholder with 24.4 percent of shares and is expected to reduce his stake in the IPO. After selling the software and hardware for a nominal fee, Square receives a small commission on each transaction using its system. Square generated revenues of USD 560.6 million in the first half of this year, up 51 percent from a year earlier, while its net loss was little changed over the same period, at USD 77.6 million versus USD 79.4 million a year ago. Adjusted revenue, which excludes its payment processing agreement with Starbucks, totaled USD 276.3 million last year, an increase of 73 percent from the prior year. Square said it expects to end the agreement with Starbucks within the next year.
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square
ipo
square files
Sandell files proxy to replace Ethan Allen board
2015-10-15 02:18:03| Furniture - Topix.net
A fight between an activist investor and furniture retailer Ethan Allen escalated on Wednesday when the hedge fund said it filed a preliminary proxy statement in a bid to replace board members at the company's shareholder meeting next month. Sandell Asset Management Group , a Manhattan-based hedge fund that owns about 5.5 percent of Ethan Allen stock, said it has ended talks with long-time CEO Farooq Kathwari after failing to persuade him to make changes at the company to boost what it deems as an underperforming share price.
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files
allen
replace
Public Knowledge files petition to deny Charter-TWC merger
2015-10-14 09:35:00| Telecompaper Headlines
(Telecompaper) Advocacy group Public Knowledge, joined by Common Cause, Consumers Union and Open MIC has filed a petition with the FCC asking the agency to deny the merger of Charter, Time Warner Cable, and Bright House Networks as proposed unless a broad set of concerns are thoroughly addressed.
Tags: public
files
knowledge
deny
Nutcracker firm files for bankruptcy
2015-10-12 11:40:34| BBC News | Business | UK Edition
Steinbach, one of Germany's best-known makers of traditional wooden nutcrackers, files for bankruptcy.
Tags: files
firm
bankruptcy
firm files
Interactive Data Holdings files for initial public offering
2015-10-10 21:11:41| IT Services - Topix.net
Interactive Data Holdings Corp. said late Friday it plans to raise up to $100 million in an initial public offering. In a filing with the Securities and Exchange Commission, the financial market data company reported revenue of $939.2 million for 2014.
Tags: data
public
files
initial
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