Welcome to our dedicated page for Safeguard Scientifics news (Ticker: SFE), a resource for investors and traders seeking the latest updates and insights on Safeguard Scientifics stock.
Safeguard Scientifics, Inc. (NYSE: SFE) is a notable investment firm that provides vital capital and expertise to foster the growth of technology-driven businesses in the healthcare, financial services, and digital media sectors. With over six decades of experience, Safeguard targets companies that leverage transformative technologies, focusing extensively on the Internet of Everything, enhanced security, and artificial intelligence, including predictive analytics and machine learning.
Safeguard typically invests between $5 million and $25 million, initially through Series A or B funding rounds, and occasionally through seed rounds. Their investment strategy and hands-on approach have successfully nurtured numerous market leaders.
Currently, Safeguard is undertaking a strategic shift aimed at maximizing and monetizing its ownership interests over a multi-year period to boost shareholder value. This involves a plan to streamline operations and reduce ongoing costs. Despite recent disappointments in strategic transactions, the company is committed to returning excess cash to shareholders and ensuring an organized exit for remaining portfolio companies.
Recent Achievements:
- Successful recapitalization of Trice Medical, retaining a small subordinated debt position.
- Consistent efforts to reduce corporate expenses and enhance operational efficiencies.
Safeguard’s upcoming financial results for the third quarter of 2023 will be released on November 2, 2023, followed by a conference call and webcast. This event aims to provide stakeholders with in-depth updates on the company's financial health and strategic initiatives.
For more information, investors can visit the company's official website or contact their investor relations department.
Safeguard Scientifics, Inc. (NYSE:SFE) will announce its third-quarter financial results for the period ended September 30, 2021, after market close on November 4, 2021. A conference call and webcast will be held at 5:00 pm ET on the same day, featuring CEO Eric C. Salzman and CFO Mark A. Herndon. The call will include a discussion of the financial results followed by a Q&A session. A replay will be available until November 11, and the webcast replay will be accessible for 90 days on the investor relations site.
Safeguard Scientifics (NYSE:SFE) announced final results of its self-tender offer to repurchase up to $35 million of common stock at $7.90 to $9.00 per share. The offer expired on October 1, 2021, with 5,014,874 shares tendered. Due to oversubscription, Safeguard exercised its right to purchase an additional 2% of shares, acquiring a total of 4,304,826 shares for approximately $38.7 million. This represents about 20.7% of Safeguard's outstanding shares, leaving 16,491,595 shares post-settlement. Payments will be made from available cash.
Safeguard Scientifics (SFE) announced preliminary results of its modified "Dutch auction" self-tender offer to buy up to $35 million in shares. The offer, which expired on October 1, 2021, saw 5,035,906 shares tendered at or below $9.00. Due to oversubscription, Safeguard will purchase approximately 4,304,826 shares at $9.00 each, totaling about $38.7 million. This acquisition represents about 20.7% of its outstanding shares. The final count will be confirmed following the guaranteed delivery period.
Safeguard Scientifics (SFE) announced the completion of its acquisition of Flashtalking, resulting in cash proceeds of approximately $44.8 million. Additional cash of up to $0.8 million may be received over the next 24 months. In a strategic move, SFE commenced a modified "Dutch auction" self-tender offer to repurchase up to $35 million of its common stock at prices between $7.90 and $9.00 per share. The closing price on September 1, 2021, was $7.88. The tender offer expires on October 1, 2021.
Safeguard Scientifics, Inc. (SFE) reported its financial results for Q2 2021, ending June 30. The company recorded a net loss of $0.3 million or $0.02 per share, significantly improved from a $9.9 million loss the previous year. Cash and equivalents stood at $21.3 million. Notably, the sale of Velano Vascular generated $3.4 million, while the anticipated acquisition of Flashtalking by Mediaocean is expected to yield around $43 million. The company's remaining eleven portfolio companies reported trailing revenues of $320 million, a 10% decline year-over-year. Safeguard is focused on reducing operating costs and optimizing shareholder returns.
Safeguard Scientifics, Inc. (NYSE:SFE) is set to release its financial results for the second quarter ending June 30, 2021, after market close on August 12, 2021. A conference call and webcast will follow at 5:00 pm ET on the same day, featuring CEO Eric C. Salzman and CFO Mark A. Herndon discussing the results and a Q&A session. Investors can access the replay of this call until October 12, 2021 at 11:59 pm ET. This event plays a critical role in the company's strategy to maximize shareholder value through its technology-driven initiatives.
Safeguard Scientifics (NYSE:SFE) announced Flashtalking's acquisition by Mediaocean, a significant move in digital advertising. The deal, expected to finalize in Q3 2021, will generate approximately $43 million in cash proceeds for Safeguard. This acquisition aligns with Safeguard's strategy to maximize and monetize its ownership interests. CEO Eric C. Salzman expressed enthusiasm over the acquisition, highlighting Flashtalking's achievements in digital marketing technology.
Safeguard Scientifics (SFE) announced an update regarding its investment in Bright Health Group following its IPO on June 23, 2021. Safeguard now holds approximately 1.3 million common shares, valued at about $23.4 million based on the IPO price of $18.00 per share, up from $15.3 million reported on March 31, 2021. The shares will be classified as Trading securities, with unrealized gains or losses reflected in future financial statements. The company continues to pursue strategies to maximize shareholder value and monetize its ownership interests.
Safeguard Scientifics (NYSE: SFE) will host a virtual discussion with CEO Stuart Long of InfoBionic on June 29, 2021, at 10:00 a.m. ET. This event aims to provide shareholders insights into Safeguard's ownership interests and is the fifth in a series led by CEO Eric C. Salzman. Safeguard has invested $22 million in InfoBionic, holding a 25% stake. InfoBionic revolutionizes remote patient monitoring for cardiac services. The discussion can be registered for online and will also be available for later replay.
Safeguard Scientifics (NYSE:SFE) will hold its 2021 Annual Meeting of Shareholders on May 19, 2021, at 8:00 a.m. ET. This year’s meeting is virtual, allowing attendance via live webcast. Shareholders will vote on the election of four directors, an advisory resolution on executive compensation, and the appointment of Grant Thornton LLP as the independent accounting firm for 2021. Eligible shareholders must have owned stock by March 24, 2021 to participate. The meeting details and voting instructions are provided in the proxy statement available online.
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