Company roundup

  • Updated: April 16, 2013 - 7:31 PM

NEW PRODUCTS

Tierney Brothers, Minneapolis, a technology company, will begin offering new individualized instruction and learning tools to K-12 and universities in the United States. The new tools include a suite of Aruba Networks Mobile Network Infrastructure products, a “Purpose Built for Education” tablet solution called LearnPad and a content streaming software application known as DisplayNote.

New Business

Calpine, Houston, a power company, has proposed expanding its natural gas-fired power plant in Mankato and selling the electricity to Minneapolis-based Xcel Energy Inc. The company filed the plan with the Minnesota Public Utilities Commission, which sought competitive bids to meet future power needs of Xcel’s 1.2 million customers in the state. Xcel has proposed building three smaller generators fired by natural gas. The commission will pick the winning project after a regulatory review.

Ecumen, St. Paul, has a grand opening of Esprit Whispering Ridge, a new senior living community in Omaha on Saturday. The project is Ecumen’s first property in Nebraska and was developed with owner Esprit Memory Care. In the next year, Ecumen and a partner plan to open another project in the Memphis area.

DEBT AND EQUITIES

G&K Services Inc., Minnetonka, has closed a private placement of $100 million of senior unsecured notes. The offering consisted of $50 million of 3.73 percent senior unsecured notes due April 15, 2023, and $50 million of 3.88 percent senior unsecured notes due April 15, 2025. The company intends to use the proceeds to pay down its revolving credit facility.

Sunshine Heart Inc., Eden Prairie, has closed on its previously announced underwritten public offering of 2.875 million common shares, which includes the full overallotment of 375,000 shares, at a price of $5.25 per share. The net proceeds from the sale of shares by Sunshine Heart, after underwriting discounts and other offering expenses, total about $14 million.

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