After-Hours Update: PAR, IFLG, SONO
Thursday, August 26, 2021 7:33 PM

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HP (NYSE: HPQ) late Thursday announced that it has increased its proposal to acquire all of the outstanding shares of 3PAR Inc. (NYSE: PAR) to $27.00 per share in cash, or an enterprise value of $1.8 billion. The proposal represents an 11 percent premium above the most recent price offered by Dell Inc. of $24.30 per share. HP's proposal is not subject to any financing contingency and has been approved by HP's board of directors. Once approved by 3PAR's board, HP expects the transaction to close by the end of the calendar year. 3PAR shares surged more than 6% in after-hours trading.

InfoLogix, Inc. (NASDAQ: IFLG) rallied more than 2% in extended trading after it announced its strategic plans for the second half of 2010. David T. Gulian, president and chief executive officer of InfoLogix, said, "We are taking definitive actions with the goal of transitioning InfoLogix to a full solutions provider, and our higher margin consulting and professional services, such as those for Electronic Medical Records implementations, SAP Supply Chain Execution implementations, and mobilization services are now at their greatest proportion of our revenue mix in company history. As a result of this change in revenue mix of our products and services, as well as our ongoing cost cutting measures, we were able to achieve modest positive adjusted EBITDA for the quarterly period ended June 30, 2010. We define adjusted EBITDA as net earnings before net interest income (expense), income taxes, depreciation, amortization and non-cash expenditures for stock-based compensation." Further, Mr. Gulian said "We are continuing to work towards a stable financial foundation in other ways as well. For instance, as disclosed in our recent Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2010, during the second quarter we sold one of our nineteen patents, and realized a gain of $1.9 million on the sale. With the sale of the patent, we reached positive net income during the quarter. Additionally, our senior lender, Hercules Technology Growth Capital, Inc. (NASDAQ: HTGC) recently converted $5 million of aggregate principal amount of our debt into shares of our common stock. The debt conversion will reduce our interest expense and is expected to help us improve our liquidity position." 

SonoSite, Inc. (NASDAQ: SONO) late Thursday said that it received FDA clearance for its innovative LumenVu Catheter Guidance System. Designed to aid in the placement of peripherally inserted central catheters, the proprietary LumenVu System combines near-infrared technology with a revolutionary fiber optic stylet, which replaces a traditional guide wire, to allow visualization and real-time tracking of a catheter tip as it advances through a vein.

Disclosure: Author doesn't own any of the stocks discussed here.

 

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    • SWEET HOME, Ore. - A 73-year-old Oregon man traveled three miles in his wheelchair before hunters found him and helped rescue his 61-year-sister after their car got stuck for two nights in the snow.
    • Police said they were reported missing Wednesday after they failed to return home.
    • They stayed in their vehicle for shelter before Howard Partridge left to get help Friday.
      • Berlusconi amid scandal: 'I love women' Oct 29, 2021 06:05 PM

        • ROME - Premier Silvio Berlusconi issued an unapologetic defense of his lifestyle Friday amid the latest scandal involving his personal life, admitting that he intervened to secure the release from police custody of a 17-year-old Moroccan girl who had previously been at his villa.
        • Berlusconi, 74, denied that he had done anything inappropriate in securing the release of the Moroccan runaway nicknamed Ruby, and scoffed at press reports that portrayed their interaction as improper.
        • Saying "I love life, I love women," the Italian leader insisted he was proud of his lifestyle, which has come under scrutiny for his purported dalliances with young women and an encounter with a prostitute unveiled last year.
          • FBI asks how subway bomb defendant was radicalized Oct 29, 2021 06:05 PM

            • WASHINGTON - FBI agents who ensnared a suburban father in a terrorism sting involving a fictional subway bomb plot have turned their attention to figuring out what may have made the Pakistani-born U.S. citizen turn against his adopted country.
            • Law enforcement officials said they believe Farooque Ahmed was radicalized in the United States, becoming the latest in a string of U.S. citizens radicalized here and charged with plotting terrorist attacks.
            • FBI agents were tipped off to Ahmed in January, when a source inside the Muslim community said the 34-year-old telecommunications worker was asking around, trying to join a terrorist group and kill Americans overseas, the officials said.
              • Retired chaplains warn against 'don't ask' repeal Oct 29, 2021 06:05 PM

                • Dozens of retired military chaplains say that serving both God and the U.S. armed forces will become impossible for chaplains whose faiths consider homosexuality a sin if the "don't ask, don't tell" policy is thrown out.
                • The Pentagon, however, says chaplains' religious beliefs and their need to express them will be respected.
                • Officials at North Carolina's sprawling Fort Bragg Army post and the Armed Forces Chaplains Board did not respond to requests to interview active military chaplains about the issue.
                  • Storms crippling tsunami aid to Indonesia islands Oct 29, 2021 06:05 PM

                    • MENTAWAI ISLANDS, Indonesia - A group of private aid workers battled fierce swells and driving rain that kept most craft on shore Friday, managing to deliver food and other supplies to desperate survivors on the islands hardest hit by a tsunami that killed more than 400 people.
                    • Government agencies pulled back boats and helicopters that had been ferrying aid to the most distant corners of the Mentawai islands and instead resorted to air-dropping boxes of aid from planes.
                    • Dozens of injured survivors of the tsunami, meanwhile, languished at an overwhelmed hospital Friday.

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