NEW BUSINESS Digi-Key Corp., Thief River Falls, Minn., and HI-TECH Software have signed a global agreement for distribution of HI-TECH Software's development tools.
PepsiAmericas Inc., Minneapolis, and Dr Pepper Snapple Group Inc. announced an agreement that will increase the availability of the Crush beverage brand in PepsiAmericas' territories.
Clearfield Inc., Plymouth, (formerly APA Cables & Networks), has teamed with Golden Belt Telephone Association Inc., a cooperative in Rush Center, Kan., for a five-year fiber-to-the-home deployment to 18 communities in west central Kansas.
DEBT AND EQUITIES Xcel Energy Inc., Minneapolis, issued an additional 2.25 million common shares pursuant to the underwriters' exercise in full of their overallotment option for a recently completed public offering of 15 million common shares. Morgan Stanley and Citi acted as joint bookrunning managers for the offering. Proceeds of the overallotment exercise are expected to be used to repay commercial paper.
PERFORMANCE Famous Dave's of America Inc., Eden Prairie, said it will close one of its 48 company-owned restaurants, in Chicago, and would incur noncash charges associated with the closure. The company also said it would record noncash impairment charges on two other locations, one in Chicago and one in Minneapolis; write off assets related to the recent acquisition of the Atlanta market from a franchisee, and record remaining lease obligations on a location previously closed.
The company said its actions could result in related noncash charges and reserves of about $4.1 million, or 28 cents per diluted share on a year-to-date basis. The sum may be reduced by as much as $600,000, pending the outcome of negotiations for lease terminations.
PERSONNEL MOVES CoBank, Denver, named Amy Gales central region president of its agribusiness lending unit and named Jeff Swanhorst vice president of credit for the agribusiness banking group. Gales and Swanhorst are based in CoBank's Minneapolis office.
EnteroMedics Inc., St. Paul, announced that Dr. Dennis Kim, vice president of medical affairs and chief medical officer, has resigned and plans to take a position at a company based in San Diego, where his family lives. Katherine Tweden, vice president of research, also will become interim vice president of medical affairs. Dr. Richard Wilson has been named interim chief medical officer.
