Inogen shares stumble after $70.5M initial public offering
By Stephen Nellis / Friday, February 21st, 2014 / Banking & Finance, Health Care & Life Science, Technology, Top Stories, Tri-County Public Companies / 2 Comments
Shares of Goleta-based Inogen settled into the low $15 range as the Business Times went to press Feb. 19 after the company raised $70.5 million in an initial public offering that priced at $16, the low end of its expected range. In addition to selling shares, the company changed some of the disclosures it made to investors, pointing out its steep reliance on government and private insurance programs for 41 percent of its total revenue in 2012.
Templar banks on grapes: Asset-based lender launches winery arm
By Christine De La Cruz / Friday, February 21st, 2014 / Banking & Finance, Banking Industry, Central Coast, Top Stories, Tri-County Economy, Wine & Viticulture / Comments Off on Templar banks on grapes: Asset-based lender launches winery arm
Templar Capital does asset-based lending and recently launched Vintners Capital, a lending arm that caters specifically to wine-related businesses by lending against wine-club subscriptions and equipment, along with other collateral.
Heritage Oaks and Mission Community merger to close Feb. 28
By Staff Report / Thursday, February 20th, 2014 / Banking & Finance, Banking Industry, Central Coast, Top Stories, Tri-County Economy / Comments Off on Heritage Oaks and Mission Community merger to close Feb. 28
The $56 million deal will make Heritage Oaks the largest community bank in the Tri-Counties, with about $1.6 billion in assets.
Connexity sold to Shopzilla
By Staff Report / Thursday, February 20th, 2014 / Banking & Finance, Technology, Top Stories, Tri-County Economy, West Ventura County / Comments Off on Connexity sold to Shopzilla
Ventura-based digital advertising firm Connexity has been purchased by Shopzilla, an online comparison shopping website out of Los Angeles, for an undisclosed sum.
The deal marks the first exit for a business that had operated out of the Ventura Ventures Technology Center, the city of Ventura’s startup incubator.
Mission Community shareholders approve $56M acquisition
By Staff Report / Tuesday, February 18th, 2014 / Banking & Finance, Banking Industry, Central Coast / Comments Off on Mission Community shareholders approve $56M acquisition
Shareholders of San Luis Obispo-based Mission Community Bancorp have voted overwhelmingly in favor of a proposed merger with Heritage Oaks Bancorp out of Paso Robles. The $56 million deal was announced in October 2013 and would leave Heritage Oaks as the survivor and the largest bank based in the Tri-Counties.
Vitesse makes play for Internet of things in turnaround tactic
By Stephen Nellis / Friday, February 14th, 2014 / Banking & Finance, Technology, Top Stories, Tri-County Economy, Tri-County Public Companies, West Ventura County / Comments Off on Vitesse makes play for Internet of things in turnaround tactic
Vitesse, which had $103.7 million in revenue last year, is hoping that the Internet of things will converge with the turnaround strategy it has been mounting for the past several years that is starting to come to fruition.
Conversant dials down on new ad strategy
By Stephen Nellis / Friday, February 14th, 2014 / Banking & Finance, Technology, Top Stories, Tri-County Public Companies / Comments Off on Conversant dials down on new ad strategy
Conversant will align all of its business units — including a new SET Media video unit that it acquired for $26 million in cash and $4 million in stock days after its name change — around the goal of direct conversations between advertisers and consumers.