Mississippi Business Journal » investments

Ex-Connecticut inn owner accused of bilking investors for resort project

Associated Press — Wed, 13 Jun 2012 01:09:31 +0000

LAKESHORE — A former owner of New London, Conn.’s, historic Lighthouse Inn is facing a trial in federal court on charges she helped defraud $1.7 million from investors in a resort project in Mississippi. Maureen Clark of Stonington and her former business partner, Cristopher Plummer of Lyme, were accused of using much of that money [...]

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Fitch withdraws ratings on MDOC bonds for prison projects

MBJ Staff — Tue, 15 May 2012 16:54:18 +0000

MARSHALL COUNTY and WILKINSON COUNTY — Fitch Ratings has withdrawn its ratings on the following bonds due to pre-refunding activity: • Mississippi Development Bank (MS) (MSLoan Prog-Mississippi Department of Corrections-Marshall County Correctional Facility Refunding Proj) general obligation special obligation bonds series 2008C (all maturities); and • Mississippi Development Bank (MS) (MSLoan Program-Mississippi Department of Corrections [...]

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Construction bond package misses legislative deadline

Associated Press — Mon, 30 Apr 2012 15:24:24 +0000

JACKSON — A bond package that would have provided funding for repairs and new construction across Mississippi died when a Saturday deadline passed, though the legislature continued making strides yesterday to finish the budget process. Republican Lt. Gov Tate Reeves held his line this weekend, demanding a smaller bond package than the $250 million proposal [...]

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New Jersey investment firm buys industrial building for $16.2M

MBJ Staff — Thu, 22 Mar 2012 21:08:43 +0000

OLIVE BRANCH — Monmouth Real Estate Investment Corporation of Freehold, N.J., has acquired a 234,660-square-foot industrial building located at 8644 Polk Lane, Olive Branch, at a purchase price of $16.2 million. The property is net-leased for 10 years to Anda Pharmaceuticals Inc., a distribution division of Watson Pharmaceuticals Inc. The building is situated on approximately [...]

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Dallas company looking to purchase Seventh Knight via stock swap

MBJ Staff — Fri, 02 Mar 2012 12:21:07 +0000

VICKSBURG — Fusion-Q of Dallas, Texas, has made a tender offer to acquire the shares of Seventh Knight Inc. Under the terms, Fusion-Q has tendered an offer to acquire Seventh Knight with Fusion-Q preferred stock in exchange for the 9,674,403 shares of common stock outstanding stock of Seventh Knight. Thereafter, each Fusion-Q preferred share would [...]

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Judge postpones ex-NFL player’s sentencing for fraud

Associated Press — Tue, 21 Feb 2012 13:48:01 +0000

MADISON — A federal judge has put off a former NFL player’s sentencing to give prosecutors time to notify possible fraud victims in Mississippi, Tennessee, Florida and Arizona. The Clarion-Ledger reports that the amount of Jeffrey Walker’s restitution payment will depend on the number of victims. Sentencing had been scheduled for last Friday. Federal assistant [...]

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BancorpSouth closes offering; BancorpSouth Insurance launches app

MBJ Staff — Wed, 25 Jan 2012 19:21:17 +0000

TUPELO — BancorpSouth Inc. has closed an underwritten public offering of 10,952,381 shares of its common stock at a price to the public of $10.50 per share. The gross proceeds from the offering, before expenses, were $109.3 million. The proceeds from the offering will be used by the financial institution for general corporate purposes, including [...]

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BancorpSouth commences $100M public offering

MBJ Staff — Wed, 18 Jan 2012 14:18:15 +0000

TUPELO — BancorpSouth Inc. has commenced an underwritten public offering of $100 million of its common stock. The company said it intends to grant the underwriters a 30-day option to purchase up to an additional 15 percent of common shares sold pursuant to this transaction. All of the shares are being offered by the Tupelo-based [...]

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Regions selling Morgan Keegan to Raymond James for $930M

MBJ Staff — Thu, 12 Jan 2012 14:46:17 +0000

BIRMINGHAM, Ala. — Regions Financial Corp. has entered into a stock purchase agreement to sell Morgan Keegan & Company Inc. and related affiliates to Raymond James Financial Inc., for $930 million. As part of the transaction, Morgan Keegan will also pay Regions a dividend of $250 million before closing, pending regulatory approval, resulting in total [...]

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State’s action against Morgan Keegan workers settled

MBJ Staff — Mon, 12 Dec 2011 18:45:37 +0000

JACKSON — An administrative action against Morgan Keegan & Company employees and Morgan Asset Management employees, Brian B. Sullivan, Gary Stringer, and Michele Wood has been resolved with the State of Mississippi, according to the Secretary of State’s Office. No Mississippi Morgan Keegan brokers were involved in this action. The order resolving the case is [...]

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