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2012年2月28日星期二

Saxo Bank Scoops 4 Awards at the Social Forex Awards 2011

SINGAPORE–(Marketwire -02/27/12)- Saxo Bank, the online trading and investment specialist, has won no less than four Awards at the inaugural Social Forex Awards 2011.
Saxo Bank ranked number one in the following categories:
  • Most Social Bank (through the use of Social Media tools such as LinkedIn, Facebook and Twitter
  • Best Social Campaign
  • Best Social Initiative/Innovation
  • Best Social Research
The Bank ranked second in a further three categories: Best iPhone/iPad app, Best Online Content and Most Social Website. Of 8 categories Saxo Bank was ranked in all but one.
The awards recognise the outstanding players in the industry and were presented by LetstalkFX and Social-Markets.net, in conjunction with e-Forex magazine and were sponsored by The Chicago Mercantile Exchange. The votes were cast by members of the letstalkFX.com community and marketing was undertaken by the Bank using LinkedIn and Facebook.
Disclaimer:Saxo Capital Markets Pte. Ltd. (“Saxo Capital Markets”) is licensed as a Capital Market Services provider and an Exempt Financial Advisor, and is supervised by the Monetary Authority of Singapore.
You should carefully consider whether trading in leveraged products is appropriate for you in the light of your financial circumstances. You should be aware that dealing in products that are highly leveraged carry significantly greater risk than non-geared investments such as share trading. As such, you could both gain and lose large amounts of money. You may sustain losses in excess of the moneys you initially deposit and also in excess of the margin required to establish and maintain any positions in leveraged products.
For further information, please see:
http://sg.saxomarkets.com/about-us/general-disclaimer
About Saxo Capital Markets
Saxo Capital Markets Pte Ltd is a wholly-owned subsidiary of Saxo Bank A/S, the Copenhagen-headquartered online trading and investment specialist. It serves as the Asia Pacific headquarters and holds a Capital Markets Services license from the Monetary Authority of Singapore. Saxo Capital Markets also holds a Commodity Broker licence from The International Enterprise Singapore.
Clients can trade Forex, CFDs, Stocks, Futures, Options and other derivatives via SaxoWebTrader and SaxoTrader, its leading multi-asset online trading platforms.
SaxoTrader is available directly through Saxo Capital Markets or through one of its institutional clients. White labelling is a significant business area for Saxo Capital Markets, and involves customising and branding of its online trading platform for other financial institutions and brokers.
About Saxo Bank
Saxo Bank is a leading online trading and investment specialist. A fully licensed and regulated European bank, Saxo Bank enables private investors and institutional clients to trade FX, CFDs, ETFs, Stocks, Futures, Options and other derivatives via three specialised and fully integrated trading platforms: the browser-based SaxoWebTrader, the downloadable SaxoTrader and the SaxoMobileTrader application available in over 20 languages. Saxo Bank also offers professional portfolio and fund management through Saxo Asset Management who accommodates high-net-worth private clients and institutional investors and provides banking services and advice to retail clients through Saxo Privatbank. The Saxo Bank Group is headquartered in Copenhagen with offices throughout Europe, Asia, Middle East, Latin America and Australia.
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2012年2月21日星期二

« Shanghai Launches RMB Investment FundW. P. Carey Announces Proposed Acquisition of CPA:15 and Conversion to REIT »GE Capital, Franchise Finance Provides $25 Million to Support Quilvest Group Investment in Anthony’s Coal Fired Pizza …

SCOTTSDALE, Ariz.–(BUSINESS WIRE)–
GE Capital, Franchise Finance provided a $25 million credit facility to support an investment in Anthony’s Coal Fired Pizza, Inc. by an affiliate of The Quilvest Group. The financing includes a $17 million term loan and an $8 million revolving credit facility. Funding was provided through GE Capital’s bank affiliate, GE Capital Financial Inc.
“GE Capital proved to be a great choice for us,” explains Henrik Falktoft, partner, The Quilvest Group. “Their team was very supportive and knowledgeable about this market and that made for a better transaction.”
The Quilvest Group has invested around $4 billion in more than 300 private equity and real estate funds and 150 direct investments.
“We were in a great position to help both parties using our experience in the space and our relationship with the sponsor, Quilvest,” said Mike Kurtz, vice president, GE Capital, Franchise Finance.
Anthony’s Coal Fired Pizza opened their first store in Florida in 2002 and now has 32 locations throughout Florida, Pennsylvania, New Jersey, Delaware, New York and Connecticut.
About GE Capital, Franchise Finance
GE Capital, Franchise Finance is a leading lender for the franchise finance market via direct sales and portfolio acquisition. With more than 30 years of experience and $10 billion in served assets, we serve over 3,000 customers and over 18,000 property locations. We specialize in financing mid-market operators with multiple stores in the restaurant and hospitality industries. Our team of industry experts will work with you to help develop your own growth plan with access to our proprietary industry research and customized tools. More information is available at http://www.gefranchisefinance.com/.
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Dannemora reduces need for additional financing

In Dannemora Mineral`s interim report for the third quarter of 2011, the Company announced that additional investments of SEK 120 million in new, safer and more efficient ramp systems in the Dannemora iron ore mine had been approved. The report also announced increased costs of SEK 22 million related to consulting support in the Company`s investment project and an increase in tied-up working capital of SEK 20-30 million due to the construction of a quality assurance store over in Hargshamn.
 Since then the Company has been actively working to reduce the need for additional financing. This has led to shifts in non-time-critical investments and various measures to free up working capital.
The fact that Dannemora`s investment project has progressed  without disruption or cost overruns and the production start-up date will be met also means the Company will quickly arrive at a situation of positive cash flows.
It is Dannemora Mineral`s assessment that the Company`s additional capital requirement for financing the Dannemora iron ore mine in the period until a positive cash flow is achieved amounts to approx. SEK 100 million. The Company does not expect this need for additional financing to arise until some time after commercial operation has started at the Dannemora iron ore mine.
Dannemora Mineral also believes that the capital requirement should be funded by equity. Consequently, Dannemora Mineral plans to implement a new share issue of approx. SEK 100 million sometime during the next 6-month period, when the capital market is considered beneficial. The new share issue is likely to be implemented without preferential rights for existing shareholders
 Read Press release below
Press release 21 Februrary 2012


This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Dannemora Mineral AB via Thomson Reuters ONE
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2012年2月1日星期三

Cohen Said to Plan Donating Gains From SAC Spinout as Investors Flag Risk

Steven A. Cohen plans to donate to charity any profits he makes from the former private-equity arm of the SAC Capital Advisors LP hedge fund, according to three investors.
Some limited partners and prospective investors in Siris Capital Group LLC have expressed concern that the New York-based spinout’s ties with Cohen left it vulnerable to “headline risk,” or negative news, the people said. Two former employees of SAC Capital have pleaded guilty to insider trading in the U.S. government’s five-year probe of hedge funds, and last month a technology analyst at one of the $14 billion firm’s units was accused of the crime.
Prior to the close of the first fundraising stage in September, Cohen decided against investing in the Siris fund, whose general partners are seeking $400 million, the people said. Cohen also decided to hand over his cut of future profits to charity, according to the investors. Siris had agreed at the time of the spinout to give Cohen 20 percent of its slice of profits, or carried interest, from the first fund, the investors said.
Frank Baker, co-founder of Siris, declined to comment, as did Jonathan Gasthalter, a spokesman for SAC Capital at Sard Verbinnen & Co. No allegations of wrongdoing have been levied against Cohen or SAC.

Siris Fundraising

Siris, the private-capital group that spun off from SAC Capital early last year, has raised $175 million for its first buyout fund, said two of the investors, who asked not to be identified because the information isn’t public. The fund, Siris Partners II LP, will invest in technology, telecommunications and health-care companies.
Public pension plans have been sensitive to any bad press around investments they make.
“The nightmare scenario for any public pension manager is getting a call from a board member one morning because a negative story involving a fund in their portfolio is on page one,” said Jake Elmhirst, a managing director at UBS Investment Bank in New York.
Cohen’s decision not to invest in the fund has alleviated concerns about potential headline risk, one of the people said. Another possible limited partner said his investment firm wouldn’t be troubled if Cohen’s had participated in the fund because that would represent a “validation” of the Siris team.
At SAC, Cohen acted as the sole backer of deals by the private-capital group and helped Siris get started.
Siris gathered $125 million in the first phase of fundraising, according to one investor. Teachers’ Retirement System of Illinois committed $45 million in August.

Tekelec, Applied Discovery

In January, Siris led a group that bought Internet services company Tekelec (TKLC) in a deal valued at about $780 million. The firm purchased LexisNexis’s Applied Discovery unit, a provider of electronic legal services, in December.
Siris was founded by Baker, Peter Berger and Jeffrey Hendren, who have worked together for more than a decade. They were colleagues at private-equity firm Ripplewood Holdings LLC before joining SAC Capital in 2007.
SAC’s private-capital group invested in Cosmos Bank Taiwan (2837), network infrastructure company Airvana and MedQuist Holdings. The deals have produced an average of about two times invested capital, according to another person familiar with Siris.
To contact the reporter on this story: Sabrina Willmer in New York at swillmer2@bloomberg.net
To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net
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2012年1月31日星期二

Premier Service Bank Announces Financial Results for the Quarter and Year Ended December 31, 2011

RIVERSIDE, Calif.–(BUSINESS WIRE)– Premier Service Bank (OTCBB:PSBK.OB – News) today announced its unaudited financial results for the quarter and year ended December 31, 2011.
For the year ended December 31, 2011, the Bank reported a net loss of $2.19 million, or ($1.77) per diluted share, compared to a net loss of $3.26 million, or ($2.66) per diluted share for the year ended December 31, 2010. The net loss for the fourth quarter of 2011 was $820 thousand, or ($0.66) per diluted share, compared to a net loss of $707 thousand, or ($0.57) per diluted share for the fourth quarter of 2010. The variance in earnings between the respective periods is primarily attributed to the provisions to the Bank’s allowance for loan losses, which, for the year ended December 31, 2011, totaled $2.79 million, compared to $4.01 million for the year ended December 31, 2010. The provision to the allowance for loan losses for the fourth quarter of 2010 totaled $910 thousand, compared to $960 thousand for the same period in 2010.
At December 31, 2011, the Bank had $8.93 million of non-performing loans, representing 8.61% of the Bank’s total loans, compared to $8.21 million of non-performing loans, or 6.98% of total loans, at December 31, 2010. Impairment analyses are performed on the Bank’s non-performing loans and impairment adjustments, if any, are written off as a part of this process. The Bank had foreclosed real estate of $2.92 million at December 31, 2011, compared to foreclosed real estate of $1.87 million at December 31, 2010. All non-performing loans were on non-accrual at December 31, 2011 and 2010. The allowance for loan losses totaled $2.36 million at December 31, 2011, or 2.28% of total loans as of that date, compared to $2.55 million at December 31, 2010, or 2.17% of total loans as of that date.
At December 31, 2011, the Bank had total assets of $141 million, representing a decrease of $14.7 million or 9.45% compared to total assets of $156 million at December 31, 2010. Total deposits at December 31, 2011 were $111.8 million, representing a 9.43% reduction compared to total deposits of $123.4 million at December 31, 2010. Non-interest bearing demand deposits totaled $41.1 million at December 31, 2011, representing 36.8% of total deposits at that date, compared to $37.6 million of non-interest bearing demand deposits at December 31, 2010, which represented 30.5% of total deposits at that date.
The Bank’s gross loan portfolio totaled $103.7 million at December 31, 2011, representing an 11.9% decrease compared to gross loans of $117.6 million at December 31, 2010. Unfunded credit commitments stood at $7.6 million at December 31, 2011, representing a 42.9% decrease when compared to unfunded commitments of $13.3 million at December 31, 2010.
The Bank’s net interest margin for the year ended December 31, 2011 was 4.82%, a decrease of 0.14% compared to the net interest margin of 4.96% for the year ended December 31, 2010. The Bank’s net interest margin for the quarter ended December 31, 2011 was 4.64%, a decrease of 0.09% compared to the net interest margin of 4.73% for the fourth quarter of 2010.
At December 31, 2011, the Bank was adequately capitalized under applicable regulatory guidelines. Total shareholders’ equity at December 31, 2011 was $10.7 million, representing a decrease of $2.2 million, or 17%, compared to total shareholders’ equity of $12.9 million at December 31, 2010. On December 1, 2010, the Bank entered into a Consent Order with the Federal Deposit Insurance Corporation and the California Department of Financial Institutions. Among the provisions of the Consent Order is the requirement that within 90 days from the effective date of the Order (by February 28, 2011), the Bank shall increase and thereafter maintain its Tier I capital in such an amount to ensure that the Bank’s leverage ratio equals or exceeds 9.50 percent and its total risk-based capital ratio equals or exceeds 12 percent. The Bank was not in compliance with this requirement as of February 28, 2011 as required by the Order. As of December 31, 2011, these capital ratios were 7.21% and 10.78%, respectively. As a result, the Bank had not achieved compliance, as of December 31, 2011, with the capital ratios required by the Order. The Bank attempted to comply with the capital requirements of the Order during 2011, but its private placement offering during 2011 of up to $10 million of common stock to accredited investors was not successful. The stock permit issued by the DFI for that offering expired on December 23, 2011, and the Bank did not request an extension of the permit in view of the stale financial statements included in the offering and other factors. Because the Bank did not sell the minimum amount required by the offering, all subscriptions were returned when the offering expired. Before the Bank may commence a new offering, it must receive audited financial statements for its year ended December 31, 2011, and a new stock permit must be issued. Audited financial statements are anticipated to be issued in early February. At that time, if the Bank has not satisfied the capital ratios required by the Order, the Bank intends to seek a new stock permit from the Department of Financial Institutions for the sale of up to $10 million of common stock to accredited investors in another nonpublic offering. While the Bank continues to be adequately capitalized under applicable regulatory guidelines, in order to comply with the capital requirements of the Consent Order the Bank will need to complete the proposed capital offering in 2012 or find another solution which improves its capital ratios, including the possible sale of the Bank or a transfer of control of the Bank, or taking steps to decrease the asset size of the Bank until the ratios are in compliance with the Consent Order.
The Bank’s President and Chief Executive Officer, Kerry L. Pendergast, stated, “While 2011, in most respects, was a continuum of 2010, there are anecdotal signs suggesting that, perhaps, the local marketplace is beginning to shows some signs of stabilization. While it is too early to state that we’ve turned the corner, I would suggest that our customers appear to be more optimistic about the future.”
Pendergast went on to say, “Throughout 2011 Premier Service Bank focused its efforts on managing the credit portfolio; while this message has been embedded in our releases for quite some time, it is central to returning the Bank to consistent profitability. Recognizing that delinquency is generally a precursor to more serious issues developing in a relationship, management and staff intensified their collection efforts throughout the year; as a result, overall delinquency within the institution has been trending downward over the last 2 quarters. In 2011 the Bank contributed $2.79 million to its Allowance for Loan Losses as compared to a contribution of $4.01 million in 2010; this serves to support the belief that the pace of problem loans is beginning to decline and that appraisal valuations, tied to Classified Commercial Real Estate Loans, are also beginning to stabilize.”
Pendergast said in closing, “While improving the overall asset quality of the Bank continues to be the primary focus of the executive management team and our Board of Directors, our entire team works tirelessly to ensure that our “customer first” mindset does not get lost in the process. Throughout the year, all of the Bank’s front line officers participated in a structured calling program that focused on the Bank’s existing customer base; at a minimum, each client assigned to an account officer was called on at least twice within the calendar year. The importance of retention calling cannot be overstated and is critical in an environment where large, money center banks are entering the region with the dollars and the resources to buy market share.”
Premier Service Bank is a California state-chartered bank with two offices, its headquarters office in Riverside and a full-service banking office in Corona. The Bank provides commercial banking services, including a wide variety of checking accounts, investment services with competitive deposit rates, on-line banking products, and real estate, construction, commercial and consumer loans, to small and medium-sized businesses, professionals and individuals. Additional information about Premier Service Bank is available at its website at www.premierservicebank.com.
Forward-looking Statements
This news release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates and projections about Premier Service Bank’s business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and in the following: Premier Service Bank’s ability to increase its assets, deposits and total loans, control expenses, retain critical personnel, manage interest rate risk, manage technological changes, address regulatory requirements, and other risks discussed from time to time in Premier Service Bank’s filings and reports with the Federal Deposit Insurance Corporation. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made, and Premier Service Bank does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.
For a more complete discussion of risks and uncertainties, investors and security holders are urged to read Premier Service Bank’s annual report on Form 10-K, quarterly reports on Form 10-Q and other reports filed by Premier Service Bank with the FDIC.
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Financial Data – Premier Service Bank
(Unaudited)
 
Quarter Ended
(In Thousands)   Dec. 31, 2011Sept. 30, 2011June 30, 2011Mar. 31, 2011Dec. 31, 2010
 
Interest income(not taxable equivalent)$1,750$1,843$1,959$1,938$2,063
Interest expense 222  232  245  291  329 
Net interest income1,5281,6111,7141,6471,734
Provision for loan losses 910  275  884  725  960 
Net interest income after provision for loan losses6181,336830922774
Non-interest income129148261178163
Non-interest expense 1,566  1,625  1,722  1,694  1,644 
Income before income taxes(819)(141)(631)(594)(707)
(Benefit)/Provision for income taxes 1  -  -  -  - 
Net income$(820)$(141)$(631)$(594)$(707)
 
Quarter Ended
(In Thousands)   Dec. 31, 2011Sept. 30, 2011June 30, 2011Mar. 31, 2011Dec. 31, 2010
Per share:
Net income – basic$(0.66)$(0.12)$(0.51)$(0.48)$(0.57)
Weighted average shares used in basic1,2611,2611,2611,2611,261
Net income – diluted$(0.66)$(0.12)$(0.51)$(0.48)$(0.57)
Weighted average shares used in diluted1,2611,2611,2611,2611,261
Book value at period end$5.22$5.89$6.00$6.49$6.97
Ending shares1,2611,2611,2611,2611,261
 
 
Balance Sheet – At Period-End
Cash and due from banks$22,867$21,875$17,947$22,636$24,060
Investments and Fed fund sold8,4467,7249,76610,2508,476
Gross Loans103,668109,429111,500113,645117,624
Deferred fees(198)(211)(233)(254)(263)
Allowance for loan losses(2,359)(3,130)(2,803)(2,561)(2,549)
Net Loans101,111106,088108,464110,830114,812
Other assets 8,832  9,398  10,559  10,592  8,644 
Total Assets$141,256 $145,085 $146,736 $154,308 $155,992 
 
Non-interest-bearing deposits$41,130$43,246$43,762$44,947$37,588
Interest-bearing deposits70,62969,49970,51977,34785,809
Other liabilities18,81220,81820,79719,74919,737
Shareholders’ equity 10,685  11,522  11,658  12,265  12,858 
 
Total Liabilities and Shareholders’ equity$141,256 $145,085 $146,736 $154,308 $155,992 
 
Asset Quality & Capital – At Period-End
Non-accrual loans$8,926$9,591$6,309$8,047$8,209
Loans past due 90 days or more-----
Other real estate owned2,9273,1944,0363,9271,865
Other bank owned assets -  -  -  -  - 
Total non-performing assets$11,853 $12,785 $10,345 $11,974 $10,074 
 
Allowance for losses to loans, gross2.28%2.86%2.51%2.25%2.17%
Non-accrual loans to total loans, gross8.61%8.76%5.66%7.08%6.98%
Non-performing loans to total loans, gross8.61%8.76%5.66%7.08%6.98%
Non-performing asset to total assets8.39%8.81%7.05%7.76%6.46%
Allowance for losses to non-performing loans26.43%32.63%44.43%31.83%31.05%
 
Total risk-based capital ratio10.78%11.15%10.92%11.27%11.64%
Tier 1 risk-based capital ratio9.52%9.88%9.66%10.00%10.38%
Tier 1 leverage ratio7.21%7.86%7.73%7.87%8.05%

2012年1月30日星期一

Founder family seeks 3 bln rupees in Milestone sale – report

MUMBAI (Reuters) – The family of late Ved Prakash Arya, founder of Indian private equity fund Milestone Capital, has sought 3 billion rupees from prospective buyers of the company, the Financial Express newspaper reported citing an unnamed source with direct knowledge.
Edelweiss Financial Services (EDEL.NS), Ashmore Investment Management, Arth Veda Capital, a unit of Dewan Housing Finance (DWNH.NS) and L&T Finance (LTFH.NS) are interested in the assets, the report said.
Standard Chartered Plc (STAN.L) is advising Milestone on the sale.
The family put Milestone on the block after its founder and chief executive Ved Prakash Arya died last year.
The fund currently manages about 36 billion rupees, the report said.
(Reporting by Indulal PM; Editing by Rajesh Pandathil)

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2012年1月27日星期五

CORE BioFuel Inc. Engages Osprey Capital Partners Inc. to Secure Investment for Construction Engineering

TORONTO–(Marketwire -01/25/12)- CORE BioFuel Inc., a Canadian company focused on energy security for the North American and European markets, announced today that it has signed an exclusive agreement with Osprey Capital Partners Inc., based in Toronto, Canada. Osprey Capital will secure equity investment capital to fund the completion of construction engineering for CORE’s first wood-to-Green Gasoline plant to be built in Canada. This major step will enable CORE to establish an Engineering, Procurement and Construction (EPC) contract with an international oil/gas engineering company to define a fixed plant cost. The EPC contract will allow CORE to secure project debt financing and performance guarantees for the plants through AON Reed Stenhouse, one of the largest insurance brokers in the world.
Osprey’s work for CORE will be spearheaded by Alan Crossley, who has over twenty-five years of experience in the chemical, petroleum, and renewable fuels industry. Mr. Crossley commented: “Osprey Capital is very pleased to be working with the CORE team. CORE will be producing a carbon neutral, market ready gasoline utilizing existing technologies, has secured an off-take agreement and has a significant competitive advantage in terms of production costs. This makes the CORE project an excellent investment opportunity. Osprey has seen a significant number of bio-based fuel projects, and we believe CORE BioFuel will become the market leader.”
George Stanko, President of CORE Biofuel, stated: “We are extremely excited about signing this agreement with Osprey Capital. Osprey is a leader in investment banking and Alan Crossley shares our passion for renewable energy. This agreement positions us to take a giant step forward in our commercialization process and become the global leader in advanced cellulosic biofuels production.”
Osprey Capital Partners Inc., since its founding in 1998, has become one of Canada’s leading independent investment banking and financial advisory firms, with offices in Toronto, Calgary, Winnipeg and Nova Scotia. Osprey’s success with public offerings, mergers, acquisitions, funding and financing transactions stems from its basic understanding of the needs of mid-market companies paired with its established relationships with leading banks, insurance companies, pension funds, institutional investors and private equity firms — not only in Canada but the US and Europe as well. Osprey is experienced in assisting its clients through all aspects of private investment and public offerings. For additional information see www.ospreycapital.ca.
CORE BioFuel Inc. is commercializing its patent-pending Green Gasoline process, a ground-breaking development that addresses the challenge of producing a drop-in gasoline from cellulosic biomass. The technology uses industrially proven equipment, and the process is scalable, efficient and provides a cost effective solution to producing carbon neutral, benzene-free gasoline. CORE’s Green Gasoline will be a 94-octane, clean-burning alternative to conventional gasoline from petroleum sources. A CORE BioFuel plant will not only produce gasoline from unwanted wood waste but its by-products will consist of water, electricity to run its own operation, and carbon dioxide suitable for commercial use. For additional information, see http://www.corebiofuel.com/.
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CORE BioFuel Inc. Engages Osprey Capital Partners Inc. as Investment Banking Advisor

TORONTO–(Marketwire -01/24/12)- CORE BioFuel Inc., a Canadian company focused on energy security for the North American and European markets, announced today that it has signed an exclusive agreement with Osprey Capital Partners Inc., based in Toronto, Canada. Osprey Capital will secure equity investment capital to fund the completion of construction engineering for CORE’s first “Green Gasoline” wood-to-gasoline plant to be built in Canada. This major step will enable Core to establish an Engineering, Procurement and Construction (EPC) contract with an international oil/gas engineering company who will define a fixed plant cost. The EPC contract will enable CORE to secure project debt financing as well as performance guarantees for the plants through AON Reed Stenhouse, one of the largest insurance brokers in the world.
Osprey’s work for CORE will be spearheaded by Alan Crossley, who has over twenty-five years of experience in the chemical, petroleum, renewable fuels and logistics industry. “Osprey Capital is very pleased to be working with the CORE team,” Mr. Crossley commented. “The fact that CORE will be producing a zero-carbon-based, market ready gasoline utilizing existing technologies; has secured an off-take agreement; and has a significant competitive market advantage in terms of production costs — all will make this an excellent investment opportunity. Osprey has seen a significant number of bio-based fuel projects. We believe CORE BioFuel will become the market leader.”
George Stanko, President of CORE Biofuel, stated, “We are extremely excited about signing this agreement with Osprey Capital. Osprey is a leader in their field and Alan Crossley shares our passion for renewable energy. This agreement positions us to make a giant step forward in our commercialization process and become the global leader in advanced cellulosic biofuels production.”
Osprey Capital Partners Inc., since its founding in 1998, has become one of Canada’s leading independent investment banking and financial advisory firms, with offices in Toronto, Calgary, Winnipeg and Windsor, Nova Scotia. Osprey’s success with public offerings, mergers, acquisitions, funding and financing transactions stems from its basic understanding of the needs of mid-market companies paired with its established relationships with leading banks, insurance companies, pension funds, institutional investors and private equity firms — not only in Canada but the US and Europe as well. Osprey is experienced in assisting its clients through all aspects of private investment and public offerings. For additional information see www.ospreycapital.com.
CORE BioFuel Inc. is commercializing its patent-pending Green Gasoline process, a ground-breaking development that addresses the challenge of producing a drop-in gasoline from cellulosic biomass. The technology uses industrially proven equipment, and the process is scalable, efficient and provides a cost effective solution to producing carbon neutral, benzene-free gasoline. CORE’s Green Gasoline will be a 94-octane, clean-burning alternative to conventional gasoline from petroleum sources. A CORE BioFuel plant will not only produce gasoline from unwanted wood waste but its by-products will consist of water, electricity to run its own operation, and carbon dioxide suitable for commercial use. For additional information, see http://www.corebiofuel.com/.
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2012年1月19日星期四

ROTH Capital Partners to Co-Sponsor Bank Director’s 2012 Acquire or Be Acquired Conference

NEWPORT BEACH, Calif.–(BUSINESS WIRE)– ROTH Capital Partners (ROTH), www.roth.com, a full service investment bank recognized for providing financing and advisory services to emerging growth companies worldwide, today announced that it will co-sponsor the 2012 Acquire or Be Acquired conference to be held by Bank Director magazine at the Arizona Biltmore Resort & Spa in Phoenix, Arizona from January 29-31, 2012.
John Hamel, managing director of ROTH Capital Partners’ Financial Institutions Group, will be a featured speaker at the 2012 conference. Mr. Hamel’s presentation will discuss current trends in banking and M&A, as well as provide an overview of the M&A process for financial institutions and give advice for achieving the best possible terms for shareholders.
For the past 17 years, the Acquire or Be Acquired conference has been regarded as the financial industry’s premier M&A and growth event that addresses the most critical and timely issues facing banks. The conference has provided bankers and financial executives the opportunity to learn from knowledgeable speakers through interactive sessions designed to help them explore a variety of growth options. The 2012 conference will be attended by more than 650 financial executives and feature panel discussions on M&A trends, as well as best practices on strategy, capital formation, deposit growth, dealing with criticized assets and alternatives for liquidity.
To learn more or to register to attend the conference, please contact Bank Director’s conference department at conferences@bankdirector.com.
About ROTH Capital Partners Financial Institutions Group
ROTH’s Financial Institutions (FIG) Investment Banking team brings to bear its extensive industry and transaction expertise on a wide range of growth companies within the financial services sector. With deep domain expertise in its areas of focus, the team has insight into the changing dynamics of the industry and is able to develop unique ideas and financing structures that best serve the needs of ROTH’s clients. The ROTH FIG Group focuses on the following sub-sectors: banks and thrifts; consumer finance; commercial finance; mortgage REITs; asset managers; insurance; and financial processing and outsourcing. It offers a full array of investment banking products and services, including public and private offerings of equity and debt, advisory services and recapitalizations.
About Bank Director Magazine
Bank Director Magazine is the leading information resource for senior officers and directors of financial institutions, credit unions, insurance companies and investment advisors. The quarterly publication provides readers with the tools necessary to successfully handle the governance challenges impacting boards including mergers and acquisitions, retail strategies, compensation and technology. Since its inception in 1991, Bank Director has become recognized as the essential resource for top decision makers in the financial services industry. For more information, visit http://www.bankdirector.com/.
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Sikich Investment leads recapitalization of FiberLink

Article updated: 1/18/2012 12:34 AM
By Marketwire
CHICAGO — Sikich Investment Banking said it completed a recapitalization of FiberLink LLC, an owner of regional fiber optic routes between Chicago and Denver and Chicago and New Orleans.
Sikich served as the exclusive placement agent to FiberLink, securing financing from Silicon Valley-based Bridge Bank. The proceeds were used to recapitalize the company.
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Sikich Investment Banking’s Capital Markets team specializes in approaching capital markets from a comprehensive and strategic perspective, and designing customized financing structures to help fulfill growth strategies for clients at acceptable levels of risk. The team, led by Mark Solovy, head of the Capital Markets group, worked closely with FiberLink’s management to structure the transaction, prepare offering materials, conduct the financing process, assist with investor due diligence, and ultimately negotiate the terms of the final transaction.
“Mark and his Sikich colleagues have a very broad network of investor relationships, as well as financing expertise with emerging growth companies,” said Kenneth D. Anderson, chairman of FiberLink. “The team clearly understands the unique characteristics and challenges of emerging growth technology companies in accessing the ever-changing competitive capital markets, and was able to structure a transaction with terms which were advantageous for FiberLink.”
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2012年1月4日星期三

Keating Capital Announces Conference Call to Discuss Investment Strategy

GREENWOOD VILLAGE, Colo.–(BUSINESS WIRE)– Keating Capital, Inc. (Nasdaq: KIPO – News) (the “Company”) announced that it will host a conference call on two different dates to provide a perspective and review of Keating Capital’s investment policy, objectives and strategy and to assess the fund’s achievements. Stockholders, prospective stockholders, analysts and other interested parties must pre-register online at least 10 minutes prior to the start of the call as set forth below. Upon successful registration participants will receive information to access the call via telephone and Internet. The telephone numbers to access the calls are also listed below:
An archived audio recording of the call together with the slide presentation to be used will be available within approximately three hours of completion of the call at http://ir.keatingcapital.com/events.cfm. This archived audio recording and slide presentation will be available until the Company’s next quarterly conference call which has been tentatively scheduled for March 2012.
About Keating Capital, Inc.
Keating Capital (www.KeatingCapital.com) is a business development company that specializes in making pre-IPO investments in innovative, high growth private companies that are committed to and capable of becoming public. Keating Capital provides individual investors with the ability to participate in a unique fund that invests in a private company’s later stage, pre-IPO financing round — an opportunity that has historically been reserved for institutional investors. Keating Capital shares are traded on Nasdaq under the ticker symbol KIPO.
To be added to Keating Capital’s email distribution list to receive quarterly newsletters and other announcements, go to www.KeatingCapital.com/contact.
Forward-Looking Statements
This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect Keating Capital’s current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release, including the factors set forth in “Risk Factors” set forth in Keating Capital’s Form 10-K and Form 10-Q filed with the Securities and Exchange Commission (“SEC”), and subsequent filings with the SEC. Please refer to Keating Capital’s SEC filings for a more detailed discussion of the risks and uncertainties associated with its business, including but not limited to the risks and uncertainties associated with investing in micro- and small-cap companies. Except as required by the federal securities laws, Keating Capital undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise. The reference to Keating Capital’s website has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.
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2012年1月2日星期一

/ CORRECTION – W. P. Carey & Co. Announces the Passing of Its Founder and Chairman Wm. Polk Carey

NEW YORK, NY–(Marketwire -01/02/12)- In the news release, “W. P. Carey & Co. Announces the Passing of Its Founder and Chairman Wm. Polk Carey,” issued earlier today by W. P. Carey & Co. LLC (NYSE: WPC – News), we are advised by the company that the sixth paragraph should mention “Arizona State University” rather than “University of Arizona” as originally issued. Complete corrected text follows.
W. P. Carey & Co. Announces the Passing of Its Founder and Chairman Wm. Polk Carey
NEW YORK, NY — January 2, 2012 — W. P. Carey & Co.’s Board of Directors sadly announces that company founder and Chairman Wm. Polk Carey died earlier today.
Mr. Carey, who was 81 years old, died of natural causes at Good Samaritan Medical Center in West Palm Beach, Florida. He was surrounded by family and friends, who had traveled to be with him.
Company Chief Executive Officer Trevor P. Bond stated, “Bill Carey was more than our founder and Chairman — he was the cultural leader of our company. All of us at W. P. Carey & Co. are mourning his loss. At the same time, we know that the best way for us to honor Bill is to continue to deliver outstanding results to our investors. It is up to us, as members of the team he put into place, to continue his life’s work and to ensure that the standards of excellence he established at W. P. Carey & Co. remain intact.”
Mr. Bond continued, “Bill was unwavering in his devotion to our shareholders, and he was especially proud that we have been able to provide increasing income to them, while providing our tenant companies with the capital that allowed them to grow their business and prosper. He felt deep gratitude toward our employees for enabling the firm to deliver such consistently outstanding results in good times and bad.”
Bill Carey was a pioneer in the field of corporate finance for nearly 60 years. Under his leadership, W. P. Carey Co. LLC provided hundreds of companies the capital they required to thrive and prosper. He was largely responsible for development of the sale-leaseback investment strategy for commercial real estate, and his firm remains a global leader in the industry.
In 1988, Mr. Carey established the W. P. Carey Foundation, which supports educational opportunities for young people through significant endowments presented to Arizona State University, Johns Hopkins University and the University of Maryland, as well as contributions to many other fine educational institutions. His brother, Francis J. Carey, said, “Bill was not only an insightful businessman but a wonderful brother and a good citizen. He always felt grateful that he was raised in a family committed to public service — and he worked passionately to uphold that tradition.” Mr. Carey was a direct descendent of President James K. Polk.
Photos and further information are available at http://www.wpcarey.com.
W. P. Carey & Co. LLCW. P. Carey & Co. LLC (NYSE: WPC – News) is an investment management company that provides long-term sale leaseback and build to suit financing for companies worldwide and manages a global investment portfolio of approximately $11.8 billion. Publicly traded on the New York Stock Exchange (WPC), W. P. Carey and its CPA® series of non-traded REITs help companies and private equity firms unlock capital tied up in real estate assets. The W. P. Carey Group’s investments are highly diversified, with approximately 284 long-term corporate tenants spanning 28 industries and 18 countries. http://www.wpcarey.com/

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W. P. Carey & Co. Announces the Passing of Its Founder and Chairman Wm. Polk Carey

NEW YORK, NY–(Marketwire -01/02/12)- W. P. Carey & Co.’s Board of Directors sadly announces that company founder and Chairman Wm. Polk Carey died earlier today.
Mr. Carey, who was 81 years old, died of natural causes at Good Samaritan Medical Center in West Palm Beach, Florida. He was surrounded by family and friends, who had traveled to be with him.
Company Chief Executive Officer Trevor P. Bond stated, “Bill Carey was more than our founder and Chairman — he was the cultural leader of our company. All of us at W. P. Carey & Co. are mourning his loss. At the same time, we know that the best way for us to honor Bill is to continue to deliver outstanding results to our investors. It is up to us, as members of the team he put into place, to continue his life’s work and to ensure that the standards of excellence he established at W. P. Carey & Co. remain intact.”
Mr. Bond continued, “Bill was unwavering in his devotion to our shareholders, and he was especially proud that we have been able to provide increasing income to them, while providing our tenant companies with the capital that allowed them to grow their business and prosper. He felt deep gratitude toward our employees for enabling the firm to deliver such consistently outstanding results in good times and bad.”
Bill Carey was a pioneer in the field of corporate finance for nearly 60 years. Under his leadership, W. P. Carey Co. LLC provided hundreds of companies the capital they required to thrive and prosper. He was largely responsible for development of the sale-leaseback investment strategy for commercial real estate, and his firm remains a global leader in the industry.
In 1988, Mr. Carey established the W. P. Carey Foundation, which supports educational opportunities for young people through significant endowments presented to the University of Arizona, Johns Hopkins University and the University of Maryland, as well as contributions to many other fine educational institutions. His brother, Francis J. Carey, said, “Bill was not only an insightful businessman but a wonderful brother and a good citizen. He always felt grateful that he was raised in a family committed to public service — and he worked passionately to uphold that tradition.” Mr. Carey was a direct descendent of President James K. Polk.
Photos and further information are available at http://www.wpcarey.com.
W. P. Carey & Co. LLCW. P. Carey & Co. LLC (NYSE: WPC – News) is an investment management company that provides long-term sale leaseback and build to suit financing for companies worldwide and manages a global investment portfolio of approximately $11.8 billion. Publicly traded on the New York Stock Exchange (WPC), W. P. Carey and its CPA® series of non-traded REITs help companies and private equity firms unlock capital tied up in real estate assets. The W. P. Carey Group’s investments are highly diversified, with approximately 284 long-term corporate tenants spanning 28 industries and 18 countries. http://www.wpcarey.com
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General Atlantic, Sequoia Invest $108 Million in Analytics Firm Mu Sigma

Mu Sigma, a company that helps businesses make decisions by analyzing data, attracted a $108 million investment, the largest round of private-equity financing in the analytic-services industry.
The funding was led by General Atlantic LLC and followed a $25 million round in April, Northbrook, Illinois-based Mu Sigma said today in a statement. Sequoia Capital led the earlier investment and participated in the new round, raising its stake in Mu Sigma, according to the statement.
Mu Sigma will use the capital to add 600 to 700 employees to its 1,500 within the next year, said Dhiraj Rajaram, chairman and chief executive officer of Mu Sigma.
“The whole area of big data and data analytics and support, we think, is very large and will continue to grow,” Pat Hedley, a managing director at General Atlantic, based in Greenwich, Connecticut, said in an interview. “Mu Sigma has a great client base and a strong management team.”
The deal is the largest investment on record by a private- equity or venture-capital firm in the data-processing and enterprise-software services industries, according to data compiled by Bloomberg. The second-largest is Penta Capital LLC’s $94 million investment earlier this year in Six Degrees Technology Group Ltd., a company that specializes in cloud computing.
William Ford, General Atlantic’s CEO, will join the Mu Sigma board.
Mu Sigma’s revenue will increase 35 percent to 40 percent in 2012 and profit will “dip slightly” as the company increases investments in a training program, marketing and services for clients such as Microsoft Corp. and Dell Inc. (DELL), Rajaram said. The money raised will also be used for hiring and to buy out early investors, he said.
Mu Sigma helps clients analyze larger sets of data than software tools ordinarily are capable of handling. The amount of data in the world is doubling every two years, according to EMC Corp.
“It’s a big problem that we’re trying to solve,” Rajaram said in an interview.
To contact the reporter on this story: Danielle Kucera in San Francisco at dkucera6@bloomberg.net
To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net
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Golub Capital Provides One-Loan Financing to Support Freeman Spogli & Co.’s Acquisition of First Watch Restaurants, Inc.

NEW YORK , Dec. 27, 2011 /PRNewswire/ — Golub Capital announced today that it provided a GOLD financing debt facility to First Watch Restaurants, Inc. (“First Watch” or the “Company”) to support the acquisition of First Watch by Freeman Spogli & Co. (” Freeman Spogli “). GOLD financings are Golub Capital’s One-Loan Debt facilities.
Headquartered in Bradenton, Florida , First Watch is a leading operator of full service breakfast and lunch restaurants, located primarily in the Southeast, Midwest and Mid-Atlantic regions. With 82 company-owned restaurants spanning nine states and 10 franchised locations in five states, First Watch is recognized for providing healthy and hearty breakfast and lunch offerings, served in a welcoming and friendly environment. First Watch specializes in the creation of traditional favorites such as pancakes, omelets, salads and sandwiches, as well as a variety of signature items, with all menu items freshly prepared to order. First Watch has received more than 200 “Best Of” accolades in markets across the country.
“We are excited to support Freeman Spogli ‘s investment in First Watch,” said Golub Capital Principal Troy Oder . “The Company’s management team has an excellent track record of growing the First Watch brand, and Freeman Spogli is the ideal sponsor to position the Company for its next phase of growth due to their extensive knowledge of the consumer sector.”
“We chose to partner with Golub Capital due to their expertise in the restaurant industry and their understanding of the unique financing needs of investors in the space,” noted John Roth , President, of Freeman Spogli & Co. “They were able to deliver a flexible financing solution that allowed us to complete the transaction within an extremely tight timeframe.”
About Golub CapitalWith over $5 billion in capital under management, Golub Capital is a leading provider of financing solutions for the middle market, including one-loan financings (through the firm’s proprietary GOLD facility), senior, second lien, and subordinated debt, preferred stock and co-investment equity. The firm also underwrites and syndicates senior credit facilities up to $200 million . Golub Capital’s hold sizes range up to $100 million per transaction.
Golub Capital is currently ranked as the #1 Middle Market Bookrunner for YTD 3Q 2011 by Thomson Reuters Loan Pricing Corporation. Golub Capital was named “Middle Market Lender of the Year” by Buyouts Magazine in 2009 and 2010. The firm was also honored as “Debt Financing Agent of the Year” by M&A Advisor in 2010. Golub Capital is a national firm with principal offices in Chicago and New York . For more information, please visit the firm’s website at golubcapital.com.
About Freeman Spogli & Co.Freeman Spogli & Co. is a private equity firm dedicated exclusively to investing in and partnering with management in consumer-related and distribution companies in the United States . Since its founding in 1983, Freeman Spogli has invested $3.0 billion of equity in 47 portfolio companies with aggregate transaction value of over $17 billion , and is currently making investments from FS Equity Partners VI, L.P. Freeman Spogli has offices in Los Angeles and New York . For additional information, visit freemanspogli.com.


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Questions and Answers: Form I-924A

Background
8 CFR 204.6(m)(6) provides that regional centers must continue to meet the requirements of Section 610(a) of the Appropriations Act by continuing to promote economic growth, improved regional productivity, job creation or increased domestic capital investment in the approved geographic area.
Form I-924A, Supplement to Form I-924 (“I-924A”) is used to demonstrate a regional center’s continued eligibility for the regional center designation and must be filed with USCIS on an annual basis for each fiscal year (October 1 through September 30) within 90 days after the end of the fiscal year (on or before December 29th).
Form I-924A may be obtained on the USCIS website.
Below you will find questions and answers regarding the regional center Form I-924A filing and reporting requirements.
Part I. Questions and Answers
Q. Form I-924A asks in Part 1 for the provision of the USCIS-assigned number for the designated regional center.   My regional center has had several case numbers assigned to its regional center filings.  Which USCIS-assigned number should I provide?
A. USCIS assigned a unique identifier to every approved or prospective regional center in August of 2011.  Unlike a receipt number which changes with every filing, this unique identifier is permanently assigned to each approved regional center, and will be associated with all Form I-924 applications that are filed by the regional center.  The regional center unique identifier’s naming convention is as follows:
IDxxxxxxxxxx
Please provide the regional center’s unique identifier (if known) and a copy of the regional center’s most recently issued approval notice.
Q. Form I-924A asks in Part 2 for the regional center to check box a. or b.  Part 2.a. appears to be the box to check for a filing for a specific fiscal year.  Part 2.b. appears to be the box to check for a filing for a range of fiscal years.  Under what circumstances is Part 2.b. to be used?
A. 8 CFR 204.6(m)(6) requires regional centers to provide information demonstrating continued eligibility for the regional center designation on an annual basis, on a cumulative basis, and/or as otherwise requested by USCIS.  In some instances USCIS may request that a regional center submit information covering a succession of fiscal years on Form I-924A.  Part 2.b. should be checked by the regional center in those instances to specifically identify the period of time covered by the Form I-924A information submission.
Q. In Part 3, does “capital investment” refer only to the investments made by EB-5 capital investors, or should it include other financing that is part of the EB-5 capital investment project?
A. “Capital investment” in Part 3 of Form I-924A refers solely to investments made by EB-5 investors.  A regional center has the option to supplement the required information in Form I-924A, such as other financing that is part of an EB-5 capital investment project.
Q. At what point is capital considered “invested” for purposes of inclusion in Part 3 of Form I-924A; Form I-526 filing, I-526 approval, release from escrow (if any), or expenditure in a project?
A. Capital investment occurs when the EB-5 investor’s capital is actually transferred into the new commercial enterprise.  Funds held in escrow should not be counted as capital invested for the purposes of completing Form I-924A, Part 3, as these funds have yet to be actually transferred into the new commercial enterprise.
Q. At what point are jobs considered to be created for purposes of inclusion in Part 3 of Form I-924A; I-526 approval – the time of the expenditure of the capital in the capital investment project or the accomplishment of other milestones in the business plan for the project?
A. In reporting statistics, USCIS estimates job creation (10 jobs per investor) based upon the number of Form I-829 petitions that were approved within the period of time under study.  Regional centers may opt to adopt this timing approach to simplify the record keeping and data analysis required to be responsive to Part 3 of Form I-924A.
If a regional center chooses to adopt a job creation reporting methodology using economic impact modeling for the job-creating business activities that occurred within its capital investment projects during the fiscal year, then a detailed narrative and analysis should be provided with the Form I-924A that identifies the jobs that were created during the fiscal year and the methodology used to estimate the job creation.  Further, regional centers should consistently use the same methodology from year-to-year to avoid erroneous or duplicative job creation estimates.
Q. Should capital investment and job creation numbers be reported strictly within the fiscal year in which they were respectively accomplished?
A. Yes, the amount of capital invested and jobs created through the regional center’s capital investment projects should be reported strictly within the fiscal year in which they were respectively accomplished.  For Form I-924A filings for fiscal year 2011, the capital investment and job creation in Part 3 should only include events that occurred between October 1, 2010 and September 30, 2011.
Q. Where should a regional center account for jobs that were maintained in a “troubled business” during the fiscal year?
A. The number of jobs that were maintained in a “troubled business” should be identified in the section entitled “Aggregate Jobs Maintained” in Part 3.2 of the Form I-924A.
Q. What level of detail must a regional center use to identify the NAICS code for the Industry Category in Part 3.2 of Form I-924A?
A. The purpose of collecting North American Industry Classification System (“NAICS code”) information regarding the industries in which EB-5 capital is invested and jobs are created is to enable USCIS to provide information to internal and external stakeholders about the industries that are participating in EB-5 capital investment projects.
According to the U.S. Census Bureau’s FAQs regarding the NAICS codes , NAICS is a two- through six-digit hierarchical classification system, offering five levels of detail.  Each digit in the code is part of a series of progressively narrower categories, and the more digits in the code signify greater classification detail.  The first two digits designate the economic sector, the third digit designates the subsector, the fourth digit designates the industry group, the fifth digit designates the NAICS industry, and the sixth digit designates the national industry.
The NAICS code identified in Part 3.2 of Form I-924A should have sufficient detail to identify the industry for the primary business activity of the capital investment project.  In general a NAICS code with four-digits, which identifies the industry group of a given economic activity would be an appropriate entry.  For example, if the capital investment project involved Fruit and Nut then the appropriate NAICS code to use would be 1113.
Q. If a regional center creates jobs in numerous industry categories, should the regional center identify multiple industry categories, or indicate only the largest industry category in Part 3.3 of Form I-924A?
A. All of the industry category titles relating to the primary business activities conducted by the commercial enterprise should be identified in the event that the commercial enterprise engages in investments in multiple capital investment projects that span industries.  Form I-924A indicates on page 2 of the form that if extra space is needed to complete any item, that the regional center should attach a continuation sheet, indicate the item number, and provide the response.
Last updated:12/06/2011

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