Transaction Announcement: Virtusa

January 2014 – Virtusa Corporation (NasdaqGS:VRTU) announced the pricing of an underwritten public follow-on offering of 2,300,000 primary shares at $34.50 per share. In addition, Virtusa granted the underwriters of the offering a 30-day option to purchase up to 345,000 shares, which was exercised in full. Including the over-allotment, 2,645,000 shares were sold for total gross proceeds of $91.3 million. Net proceeds from the offering are expected to be used to repay the outstanding borrowings drawn down under Virtusa’s $25.0 million revolving credit facility to fund its January 2, 2014 acquisition of Trade Tech Consulting Scandinavia AB and its subsidiaries. The remaining net proceeds are expected to be used for general corporate purposes.

Janney Montgomery Scott LLC served as a co-manager on this transaction.

Janney Montgomery Scott LLC
1717 Arch Street
Philadelphia, PA 19103
www.janney.com

Ben Franklin Technology Partners of Southeastern Pennsylvania Approves Funding

PHILADELPHIA, PA (www.sep.benfranklin.org) – Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP) recently approved $2,075,000 in funding for eleven early-stage companies.

See full press release here: http://benfranklintechnologypartnerssep.createsend4.com/t/ViewEmail/j/666DCC0543C3EDFB/87EB2380DA6D57826A4D01E12DB8921D

Jaron J. Rhodes
Manager, Marketing and Communications
(215) 972-6700, ext. 3214
[email protected]

Fesnak, LLP Announces Formation of Fesnak Outsourcing

BLUE BELL, January 28, 2014 – Fesnak, LLP (“Fesnak” or “the Company”), a leading accounting, tax and
business advisory firm, announced the formation of a new wholly-owned subsidiary, Fesnak Outsourcing, LLC (“Fesnak Outsourcing”). Fesnak has offered outsourcing as part of its services since the Company’s inception in 2005. The practice area has since matured into a robust Business Process Outsourcing (BPO) operation in response to client needs and substantial market demand. Fesnak Outsourcing offers a full suite of services ranging from high-level financial strategy and CFO services to day-to-day finance, back-office accounting and administration for companies using cloud-based platforms.

Read full press release here: Fesnak Outsourcing Press Release

RightCare Solutions Raises $5.0M in Series B Round Led By Domain Associates and Compass Partners

Horsham, PA – November 13, 2013 – RightCare Solutions, Inc., an industry leading medical technology company specializing in helping healthcare providers optimize their continuum of care, today has secured $5.0 million in Series B funding led by existing investors Domain Associates, LLC and Compass Partners, LLC. RightCare will allocate proceeds from the offering to sales, marketing, and operations. Since its Series A round of funding last year, the company has completed a number of successful implementations with leading academic health systems demonstrating meaningful clinical improvements and financial ROI.

Full press release can be viewed here: RightCare Raises Series B financing

RightCare Solutions Selected as Finalist for the Fierce Innovation Awards: Healthcare Edition Program

Horsham, PA – December 3, 2013 – RightCare Solutions, Inc announced today that it has been selected as a finalist in this year’s Fierce Innovation Awards: Healthcare Edition, an awards program from the publisher of FierceHealthIT, FierceHealthcare, and FierceMobileHealthcare. RightCare Solutions, Inc was recognized as a finalist in the category of Clinical Information Management.

Full press release can be viewed here: RightCare Solutions Selected as Finalist for the Fierce Innovation Awards

 

PREPAIDIAN, INC. ANNOUNCES THE BOYS & GIRLS CLUBS OF DELAWARE VISA® PREPAID DEBIT CARD PROGRAM

(Wilmington, DE) – Prepaidian, Inc. and The Boys & Girls Clubs of Delaware arepleased to announce the launch of the Boys & Girls Clubs of Delaware Visa PrepaidDebit Card Program.

Full press release can be found here: Prepaidian Inc.

For further information, please contact Jim Shanahan at [email protected] or 302-528-9141

Prepaidian, Inc.
5451 Pinehurst Drive
Wilmington, Delaware 19808
WWW.PREPAIDIAN.COM

Xtium Explains Framework for an Effective Disaster Recovery Plan in Upcoming Webinar with IDC

Xtium and industry analyst IDC will host “Building a Framework for an Effective Disaster Recovery Plan” on January 30 from 12:00pm – 1:00pm EST.

Join IDC Program Vice President Laura DuBois and Xtium’s Jim Garrity as they discuss the industry trends and best practices for building a successful IT disaster recovery plan. Laura and Jim will specifically focus on how to create a framework around the people, processes and technology involved in an effective plan.

More information and registration can be found here: Xtium News_January 2014

For more information contact:
Jen Wozniak
Marketing Specialist
215-297-4142
[email protected]

 

 

The Nanotechnology Institute™ & Energy Commercialization Institute Award $340K

PHILADELPHIA, PA – The Nanotechnology Institute™ (NTI) and the Energy Commercialization Institute (ECI) awarded a total of $340,000 to five university-based technology commercialization projects.

View full press release here:  The Nanotechnology Institute & Energy Commercialization Institute

BFTP/SEP Contact:
Jaron J. Rhodes
Manager, Marketing and Communications
(215) 972-6700, ext. 3214
[email protected]

 

 

Completed Transaction Announcement: Radiant Logistics

December 2013 – Radiant Logistics, Inc. (NYSE MKT: RLGT) a domestic and international logistics services company (the “Company”), announced the completion of the public offering of 800,000 shares of its 9.75% Series A Cumulative Redeemable Perpetual Preferred Stock, liquidation preference $25.00 per share.  The underwriters also exercised a portion of their overallotment option and purchased an additional 39,200 shares of stock from the Company at $25.00 per share.  The Company received gross proceeds of approximately $21 million, before deducting the underwriting discount and other estimated offering costs.

Janney Montgomery Scott LLC
1717 Arch Street
Philadelphia, PA 19103
www.janney.com

 

 

Fesnak Names W. Michael Wolfe as Newest Partner

Blue Bell, PA—January 6, 2014 ―Fesnak, LLP a leading accounting and business advisory firm, today announced that W. Michael Wolfe has been promoted to Partner effective January 1, 2014. In this role, he will be responsible for continued leadership and expansion of the firm’s Business Valuation Practice section.

Full press release can be viewed here:  http://www.fesnak.com/assets/newsPDFs/Wolfe%20Press%20Release.pdf

Fesnak, LLP
1777 Sentry Parkway West
Dublin Hall, Suite 300
Blue Bell, PA 19422