San Diego Business Journal

SD FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
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Overland Storage Reports FY2014 Revenue of $65.7M

Overland Storage, the San Diego data storage systems provider that entered into a definitive agreement to be acquired by a Canadian software company earlier this year, reported fiscal 2014 fourth quarter revenue of $24.2 million, up 101 percent from the like quarter of the prior fiscal year.

Lpath Inc. Announces $12.5M Registered Direct Offering

Lpath Inc., a San Diego-based company working on bioactive lipid-targeted therapeutics, announced that it has entered into definitive agreements to sell 3,605,042 registered shares of common stock and 3,605,042 unregistered warrants in a registered direct offering totaling $12.5 million.

County's Unemployment Rate Drops to 6.2% in August

San Diego’s unemployment rate fell to 6.2 percent in August, down from a revised 6.6 percent in July.

Covario to Sell Its Search and Content Marketing Agency Business

San Diego-based Covario has agreed to sell its search and content marketing agency business to London-based Dentsu Aegis Network, the businesses announced on Sept. 17.

Bank of Southern California Grows in Assets and Earnings

The Bank of Southern California, based in Carmel Valley and with six branches, grew its total assets and net income in the second quarter, reflecting a general recovery the region is finally seeing.

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The Nassco Shipyard Is Looking to Build Up Its Workforce

LABOR: Commercial Business Including 5 Tankers Drives Need

After half a decade of job cuts, General Dynamics Nassco is changing course by hiring large amounts of workers.

UC Board of Regents Approves Creation of $250M VC Fund

Aiming to boost innovation and entrepreneurship in San Diego, University of California has announced plans for a venture capital fund to finance startups created on campuses, offering financial backing to the university-housed projects of which VC firms often steer clear.

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Realty Income Conducting $250 Million Senior Note Offering

Escondido-based Realty Income Corp. is conducting a public offering of $250 million in senior unsecured notes, expected to close on Sept. 23.

Precision One Medical Acquired By Alabama Company

Precision One Medical Inc., a privately-held manufacturer of dental implants and components in Oceanside, was acquired by BioHorizons, an Alabama company that operates in the same industry.

Median Household Income Falls to $61,426 in County

If you think you’re coming up short in the never-ending effort to make ends meet, you’re not alone, looking at a recent report from the U.S. Census Bureau.

Minimum Wage Opponents Gather 56,000 Petition Signatures

Opponents of a planned hike in San Diego’s minimum wage said they have collected more than 56,000 petition signatures, well above the 34,000 required to place the issue before voters.

Entropic Communications Hires Bank to Help Evaluate 'Strategic Options'

San Diego chipmaker Entropic Communications Inc. said on Sept. 16 that it hired an investment bank to help it evaluate “strategic options to enhance shareholder value.”

Huntington Capital Sells One of Its Portfolio Companies

Huntington Capital, a San Diego private equity firm, said one of its portfolio companies, Residential Design Services, Inc., an outsourced interior designer, was acquired by another private equity firm, resulting in “a high return on investment.”

Imagenetix Inc. Emerges From Bankruptcy

Imagenetix Inc., a San Diego-based company developing over-the-counter topical creams, skincare products and nutritional supplements, announced that its post-bankruptcy Plan of Reorganization was confirmed and all provisions of the plan were approved by Judge Margaret Mann of the United States Bankruptcy Court for the Southern District of California with an effective date of September 16, 2014, enabling the company to emerge from bankruptcy.

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California Bank & Trust Expands Nixon's Role to Include Northern California

Tory Nixon, who heads up the San Diego division for California Bank & Trust, was named to oversee the bank’s Northern California division as well.