Bloomia Holdings Sets February 16 for $15.5M Rights Offering
Bloomia Holdings' Board of Directors has fixed the close of business on February 16 as the record date for its previously announced subscription rights offering pursuant to which it intends to raise gross proceeds of up to approximately $15.5M. The Company will distribute at no charge to holders of its common stock, par value $0.01 per share, as of the close of business on the Record Date one subscription right for each share of Common Stock held. Each subscription right will entitle the holder to purchase 2.16 shares of Common Stock at a subscription price of $4.05 per whole share. If fully subscribed, this would result in the issuance of an aggregate of approximately 3.8 million shares of Common Stock. The subscription rights are non-transferable, and will not be listed for trading on any stock exchange or market. In addition, holders of subscription rights who fully exercise their subscription rights will be entitled to over-subscribe for additional shares of Common Stock, subject to proration. The Rights Offering is expected to expire at 5:00 p.m., Central Time, on March 28, subject to extension or earlier termination.
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Lendway Reports Q3 Earnings with Significant Losses
- Earnings Overview: Lendway's Q3 GAAP EPS stands at -$0.43, indicating significant challenges in profitability and reflecting ongoing pressures on its continued operations.
- Revenue and Gross Profit: The company reported revenue of $14.4 million with a gross profit of $2.9 million, representing 19.8% of sales, a stark decline from $3.9 million and 31.3% gross margin in the previous quarter, highlighting a significant drop in profitability.
- Operating Loss: Lendway incurred an operating loss of $0.02 million this quarter, contrasting sharply with an operating income of $1.4 million in the same period last year, indicating difficulties in cost management and revenue generation.
- Net Loss Situation: The net loss from continuing operations was $0.8 million, compared to a net income of $0.6 million in the same quarter last year, reflecting the company's vulnerability amid changing market conditions.
Lendway Reports Q3 Earnings with Significant Losses
- Earnings Overview: Lendway's Q3 GAAP EPS stands at -$0.43, indicating significant challenges in profitability and reflecting ongoing pressures on its continued operations.
- Revenue and Gross Profit: The company reported revenue of $14.4 million with a gross profit of $2.9 million, representing 19.8% of sales, a stark decline from $3.9 million and 31.3% gross margin in the previous quarter, highlighting a significant drop in profitability.
- Operating Loss: Lendway incurred an operating loss of $0.02 million this quarter, contrasting sharply with an operating income of $1.4 million in the same period last year, indicating difficulties in cost management and revenue generation.
- Net Loss Situation: The net loss from continuing operations was $0.8 million, compared to a net income of $0.6 million in the same quarter last year, reflecting the company's vulnerability amid changing market conditions.
