Derma Sciences (NSDQ:DSCI) president & CEO Edward Quilty resigned from the company’s board of directors, settling a non-compliance issue that could have led to delisting from the Nasdaq stock exchange.
Nasdaq requires that all members of a listed company’s board of directors be independent directors. Quilty was "inadvertently appointed to the nominating and corporate governance committee of the company’s board of directors this past year and, on May 17, 2012, resigned from the Nominating Committee, effective immediately," according to an SEC filing.
Nasdaq ruled that the violation was not the result of "deliberate intent to avoid compliance" and deemed the matter closed after Quilty stepped down from the board, Derma noted in regulatory filings.
MAKO shares, which closed at $24.79 on June 28 when the deal was announced, soared 5.5% by the end of the day Monday June 2, but settled back down and were trading at $24.90 as of about 4:00 p.m. today.
Arseus lands $372M through refinancing
Arseus landed a $371.5 million (300 Euro) credit facility through a quartet of banks, providing 5 years of revolving credit divided into 2 halves.
The refinancing was completed through ING Belgium, CBC Bank, BNP Paribas Fortis and Commerzbank.