News Update: Sino-Global Shipping America, Ltd. (NASDAQ:SINO); Corinthian Colleges, Inc. (NASDAQ:COCO); Nortek Inc (NASDAQ:NTK)
Dallas, Texas, 10/06/2014 (ustrademedia) – FLUSHING, NY headquartered shipping firm Sino-Global Shipping America, Ltd. (NASDAQ:SINO) filed a FORM S-1 with the Securities and Exchange Commission on October 3. The shipping firm which has its operations centred on Asia and Australia has let the regulator know that it is attempting to raise nearly $8.4 million funds from the primary market via public offering exercise. In the initial REGISTRATION STATEMENT, the proposed pricing of the IPO were not specified. The funds raised through this exercise are to be used to fund the Buyout of “Longhe Ship Management (Hong Kong) Co., Limited.”. The buyout deal was announced in September this year.
Corinthian Colleges Inc (NASDAQ:COCO) disclosed on 3rd October that it has received communication from the NASDAQ Stock Market. The communication notifies that the education services provider is out of compliance with “Nasdaq Listing Rule 5250”(c) (1). The breach of listing rules is related to Corinthian Colleges Inc (NASDAQ:COCO) not filing its Annual Report for FY14 to U.S. Securities and Exchange Commission as of 29th September. The filings are related to operations for fiscal year 2014, which lasted between July 2013 and June 2014. The firm now has 60 days to set right the default, by submitting a plan of action to regain full compliance. In the event of the plan being accepted by NASDAQ, Santa Ana headquartered firm would get 180 days to regain compliance. Shares of Corinthian Colleges Inc (NASDAQ:COCO) were up by 5% to close at $0.11.
Air management technology solutions provider Nortek Inc (NASDAQ:NTK) filed a “2014 Financial Guidance” update with U.S. Securities and Exchange Commission on 3rd October. The company reported that it anticipates nets sales for the full year to come in the range of $2450 to $2500 million. Similarly, EBITDA is expected to come in the range of $265 to $274 million for the current fiscal.