Boston, MA 02/26/2014 (wallstreetpr) – Apollo Investment Corp. (NASDAQ:AINV) is offering underwritten 12 million common stock share, and it has also granted underwriters option to purchase 1.8 million additional common stock shares in the offering. The company said that it has priced the secondary offering but fell short of disclosing the actual price. However, what is known is that AINV has 224.74 million outstanding shares. Its shares were last seen trading around $8.58 Tuesday after losing more than 6 percent of their value by bell time. The declared secondary common stock offering is expected to occur on February 28, during which Bank of America Corp (NYSE:BAC), Citigroup (NYSE:C), Barclays and RBC Capital Markets will act are joint book runners. The lead manager will be Deutsche Bank. Apollo Investment Corp. (NASDAQ:AINV) hopes to spend the proceeds from the offering in repaying its indebtedness under senior facility.
General Electric Company (NYSE:GE) which is keen on exiting finance to concentrate on the fast growth and higher margin areas such as energy has just announced boosted spending to improve its industrial operations. The company whose business mantra is to either be No.1 or No.2 in the industry announced additional $10 billion spending to boost its energy arm. Among other things GE is keen changing the way fracking has been done. Instead of using billions of water gallons in fracking projects, oil and gas companies could start undertaking waterless fracking whereby carbon dioxide is used instead. The newly announced additional spending in energy is part of the Ecoimagination budget through 2020. The stock of General Electric Company (NYSE:GE) was last seen losing 0.08 percent of its value to settle at $25.27 per share by bell time in the previous session.
RF Micro Devices, Inc. (NASDAQ:RFMD) and TriQuint Semiconductor (NASDAQ:TQNT) announced an acquisition deal. The deal spelt that shareholders of TQNT would receive 1.675 shares of the resulting combined company. Also, a share of TQNT is being valued at $9.73, about 5.4 percent premium over the stocks Monday closing. However, the deal is now subject of investigation. Attorneys at Robbins Arroyo are looking into the deal to see if it is fair for TQNT shareholders, meaning that it obtains maximum value and guarantees adequate compensation. The stock of both TQNT and RF Micro Devices, Inc. (NASDAQ:RFMD) dropped in the previous session.