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Finance

Providing perspective and contextual insights on the monetary aspects of the Finance industry within the state of Utah, from Banking to FinTech and from venture capital to cryptocurrency.

How to Lose $4.25 Billion in Five Weeks: The Still Unfolding Tale of New York's Hindenburg Research vs. PACS Group, One of Utah's Hottest Firms in 2024

How to Lose $4.25 Billion in Five Weeks: The Still Unfolding Tale of New York's Hindenburg Research vs. PACS Group, One of Utah's Hottest Firms in 2024

On 04 November 2024, Hindenburg Research released a 15,000-word, deep-dive report alleging multiple misdeeds leading up to the April 2024 Initial Public Offering of PACS Group (NYSE:PACS), the Farmington, Utah-based owner, manager and operator of over 310 skilled nursing facilities in 17 states across the United States. Since

NEWS BRIEF: Utah's Extra Space Storage has Raised $300 Million in a Public Offering Selling 5.7% Senior Notes that Mature in April 2028

NEWS BRIEF: Utah's Extra Space Storage has Raised $300 Million in a Public Offering Selling 5.7% Senior Notes that Mature in April 2028

Through a new public offering closed yesterday, Cottonwood Heights, Utah-based Extra Space Storage (NYSE:EXR) has raised $300 million by selling 5.7% Senior Notes that "come due" on 01 April 2028. According to its filing yesterday with the U.S. Securities and Exchange Commission via Form 8-K,

NEWS BRIEF: The Air Force Sustainment Center at Hill Air Force Base has Awarded a New 10-Year Contract Worth up to $751 Million to Five Businesses

NEWS BRIEF: The Air Force Sustainment Center at Hill Air Force Base has Awarded a New 10-Year Contract Worth up to $751 Million to Five Businesses

The Air Force Sustainment Center of the Ogden Air Logistics Center at Hill Air Force Base (Hill AFB) in Roy, Utah and Layton, Utah has awarded a new 10-year contract to five businesses worth up to $751 million. According to the Contracts News page of the U.S. Department of

BREAKING NEWS: The U.S. Army Selects the "Black Widow" Brand Drone from Utah's Teal Drones for a Five-Year Contract Valued at least $79 Million

South Salt Lake, Utah-based Teal Drones, a wholly owned subsidiary of San Juan, Puerto Rico-based Red Cat Holdings (NASDAQ:RCAT), has been awarded a five-year contract from the U.S. Army valued at at least $79 million. According to the news release announcing the selection by the Army, "The

Reading the Tea Leaves — Semeru Equity Partners Has Actually Purchased Controlling Interest in Utah-based JobNimbus for $330 Million and NOT Just Invested in the Firm

Reading the Tea Leaves — Semeru Equity Partners Has Actually Purchased Controlling Interest in Utah-based JobNimbus for $330 Million and NOT Just Invested in the Firm

Author's Note: Meaning can be transformed by changing a single word. That's a lesson I learned a long time ago. So, at the risk of being a "word geek," let me attempt to explain why words matter. The BusinessWire "Word Use" vs.

NEWS BRIEF: The Utah Housing Corporation Will Sell $200 Million in New Bonds to Support Low-Cost, Single-Family Home Sales in Utah

NEWS BRIEF: The Utah Housing Corporation Will Sell $200 Million in New Bonds to Support Low-Cost, Single-Family Home Sales in Utah

West Valley City, Utah-based Utah Housing Corporation plans to sell $200 million in new bonds next Wednesday, November 20, raising monies to help provide financial support for the sale of low-cost, single-family residences in the state. According to online publisher MuniOS, Utah Housing will sell three bonds next week, in

Three Utah Firms — Paiv, Paramify, and Paterna Biosciences — Have Raised a Combined $14.5 Million in Seed Round Funding

Three Utah Firms — Paiv, Paramify, and Paterna Biosciences — Have Raised a Combined $14.5 Million in Seed Round Funding

How it is that each of these three firms have names that start with the letters "Pa," I cannot say. Nevertheless ... Two Lehi-based firms, Paiv (formerly Gamify) and Paramify, have raised $5.0 million and $3.5 million, respectively, while Salt Lake City-based Paterna Biosciences raised $6.0