SEC accuses Positron CEO of misleading investors
Regulators allege CEO Patrick G. Rooney diverted millions of dollars from a hedge fund into the struggling Fishers company without investors’ knowledge.
Banking & Finance
Articles
Washington Square owner Simon not paying on $12.8M loan
Traffic is low and vacancies are high at Washington Square Mall, the most troubled local property for Indianapolis-based mall giant Simon Property Group Inc.
First Financial aims to use Flagstar deal as springboard
A deal scheduled to close next month will give Cincinnati-based First Financial Bancorp the foothold it has long sought to build a major presence in the Indianapolis market.
Investors across city hit jackpot in Angie’s List IPO
The initial public offering price was $13, the high end of the range projected in regulatory filings. That price was more than quadruple the average price of $2.76 paid by prior investors.
ExactTarget files for $100M IPO
The Indianapolis-based e-mail marketing company is aiming to tap a hot IPO market. Sixteen firms have gone public this month, including locally based Angie’s List.
Struggling Ener1 receives $4.5M from investor
The parent of Indianapolis-based advanced-battery maker EnerDel received the financing to continue operating while the company evaluates its options to reorganize debt.
Emmis strikes $16M deal to buy back preferred stock
The transaction with New York-based Alden Global Capital, the largest holder of Emmis preferred stock, is expected to end more than a year of legal wrangling involving the two companies.
Brizzi agrees to pay Fair Finance nearly $200K
The Fair Finance trustee alleged that, in addition to being huge campaign contributors to former Marion County Prosecutor Carl Brizzi, Tim Durham and his companies helped cover Brizzi’s personal expenses.
Local software upstart sold after less than year in business
Indianapolis-based MyJibe LLC, an up-and-coming budgeting and personal finance software firm that was launched by two 20-something entrepreneurs last January, has already been acquired.
Local business bank parent reports third-quarter profit
Indiana Business Bancorp attributed its profit of 9 cents per share to higher non-interest income a lower loan-loss provision expense.
Venture firm set to score on Angie’s List, Groupon IPOs
Battery Ventures’ investments in Angie’s List Inc. and Groupon Inc. have produced more than $440 million in paper profit after the Internet-commerce companies sold shares to the public this month.
Shelbyville’s SCB Bank scrambles for capital
A Shelbyville-based bank appears to have missed a federally mandated deadline for boosting its capital levels, a failure that might put it at risk of government takeover.
Bank hits Centre Properties with $43M suit
Three local strip centers owned by longtime Indianapolis developer Centre Properties are the target of a $43 million foreclosure lawsuit brought by the real estate firm’s lender.
Stonegate Mortgage plans to add 45 workers in ’11
The Indianapolis-based firm has pledged to add a total of 300 workers by 2015.
Suburban-hotel mayhem whipsaws entrepreneur
Two of Sanjay Patel’s hotels landed in bankruptcy in November. Four others filed for Chapter 11 protection last year.
Angie’s List stock surges after shares hit market
Angie’s List Inc. shares rose as much as 44 percent in their trading debut Thursday after the company raised $114 million Wednesday in its initial public offering. The stock closed the trading day up more than 25 percent, at $16.26 per share, after rising as high as $18.75 early in the morning.
Angie’s List IPO raises $114 million
Angie’s List Inc., the Indianapolis-based consumer-review service with more than 1 million paying members, raised about $114 million in its initial public offering Wednesday after pricing the shares at the top end of the proposed range.
Angie’s List, Delphi to attempt IPOs in busiest week this year
U.S. initial public offerings are set to raise the most in six months in November as Delphi Automotive Plc and Angie’s List Inc. take advantage of the biggest rebound in the Standard & Poor’s 500 Index in 20 years.
Indiana’s public pension restructures investments
The new asset mix, approved by the Indiana Public Retirement System’s board late last month, includes a lower concentration of public equities.
Obscure not-for-profit covering shortfalls in Carmel
The Carmel City Center Community Development Corp. has emerged as a key player in the city’s burgeoning downtown. The not-for-profit 4CDC last month gave the performing arts center $1 million to cover its operating expenses, and it’s expected to provide another $4.5 million through June 30.