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Long-time Utah MLM Firm, Modere, Shutters its Business, Surprising Employees, Vendors, "Social Marketers," and Customers Alike

Modere abruptly closed its business on Friday, dismissing all employees in advance of what is expected to be a Chapter 7 bankruptcy filing. As of last evening, the now one-page website of the Provo, Utah-based multi-level marketing company has a brief, six-language statement that reads: "Thank You for the

Say Hello to HXCO, Utah's $1 Billion Sports,Tech, Media and Entertainment Investment Fund Coming to Utah, Courtesy of Ryan Smith and Friends

In case you missed it, Ryan Smith, Utah's 46-year-old business wunderkind, is launching a $1 billion investment vehicle focused on the confluence of sports, technology, media and entertainment. Known officially as Halo Experience Company, its formation was officially declared via the company's first "tweet"

The Top 13 Utah-focused Monetary, Financial and/or Business "News Nuggets" for March 2025 that You Might have Missed

In this report you'll find info about 11 Utah-based firms and nine separate executives that we feel made the cut as being among the most "newsworthy" last month, which (when combined together) form our writeup about Utah's Top 13 Monetary, Financial and/or Business

NEWS BRIEF: A New "Canopy by Hilton" Hotel at Deer Valley East Will Cost Close to $100 Million

McClean, Virginia-based Hilton (NYSE:HLT) will spend upwards of $100 million to build a new 180-key Canopy by Hilton brand hotel in Park City, Utah as part of the Deer Valley East Village complex expansion. According to the Hilton news release, the new property is slated to open in summer

BREAKING NEWS: Utah's Davis School District Plans to Sell $100 Million in Bonds Today

The Davis County, Utah-based Davis School District today plans to close a sale of $100 million in tax-exempt, General Obligation Bonds, Series 2025, bonds authorized by the District's Board of Education. According to its official Public Notice about this fundraising, the monies raised by the Davis School District

BREAKING NEWS: With Funding in Place, Construction has Begun on Clearway Energy's $605 Million Battery Energy Storage Portfolio in Utah's Iron and Beaver Counties

San Francisco, California-based Clearway Energy Group has closed a multi-bank financing package of $605 million allowing it to begin construction of its new multi-site, 320-megawatt Honeycomb battery storage portfolio based in Utah's Iron County and Beaver County. According to the Clearway news release, its Honeycomb portfolio will be

BREAKING NEWS: Two Utah Entities are Seeking a Combined Total of over $108 Million for Real Estate Work in Weber and Summit Counties, Respectively

Wolf Creek Resort has floated over $69.4 million in "Special Assessment Bonds" for expanded real estate development work in Weber County, while the Park City School District plans to sell more than $38.6 million in "Lease Revenue Bonds" to finance improvements at Park City

NEWS BRIEF: Extra Space Storage is Raising $500 Million via an Offering of 5.4% Senior Notes due 2035

Cottonwood Heights, Utah-based Extra Space Storage (NYSE:EXR) has announced a new debt offering to raise $500 million in new funds for the market-leading Real Estate Investment Trust (REIT) in the self-storage industry. According to the company news release, the new Extra Space senior notes come with a 5.4%

NEWS BRIEF: Lehi, Utah Man Sentenced to Nine Years in Prison and Five Years of Supervised Release for "Stealing" $3.4 Million from Family and Friends

After pleading guilty in December 2023 to defrauding family members and acquaintances of over $3.4 million over a five-year-period, 60-year-old Mi Siona Patane, of Lehi, Utah was sentenced last week to nine years in prison and five years of supervised release. Although the sealed indictment filed 15 December 2021

Top 27 Utah-focused Monetary, Financial and/or Business News Nuggets for February 2025 that You Might have Missed

In this writeup, you'll find info about 27 Utah-based firms and 19 separate executives that we feel we feel made the cut as "newsworthy" in February 2025. This being the case, welcome to this writeup on Utah's Top 27 Monetary, Financial and/or Business

Utah-based Novva Data Centers and its Investment Partner, CIM Group, Land $2 Billion Loan to Complete a 175MW State-of-the-Art AI Data Center in West Jordan, Utah

If there was any doubt that Wes Swenson is hyper-serious about the data center marketplace, such notions were disabused yesterday morning when his firm, Novva Data Centers, dropped a news release with this bombshell headline: CIM Group and Novva Data Centers Announce $2 Billion in New Financing to Accelerate Growth

NEWS BRIEF: Salt Lake City-based SINTX Technologies Raises $5 Million Gross Proceeds in a Private Placement

Salt Lake City-based SINTX Technologies (NASDAQ:SINT) has raised gross proceeds of $5 million through a private placement and sale of shares and warrants of its common stock to certain "... institutional and accredited investors...." According to the company news release (and the Form 8-K it filed with the

BREAKING NEWS: The $300 Million Sale of Orem-based US Synthetic Will Enable the $7.8 Billion Acquisition of its Parent Company, ChampionX

On the surface, the news seems pretty straightforward, but it's not. So here's both the straightforward news, as well as the more complex backstory. The Straightforward News: Orem, Utah-based US Synthetic is Being Bought for ~$300 Million Orem, Utah-based US Synthetic is being sold for approximately

Utah's Largest Real Estate Firm, Bridge Investment Group, is Being Acquired for $1.5 Billion in an All-Stock Deal

Sandy, Utah-based Bridge Investment Group Holdings (NYSE:BRDG) has agreed to be acquired by New York City-based Apollo Global Management (NYSE:APO) in an all-stock transaction for ~$1.5 billion. In the 16 years since its formation in 2009, Bridge has become the largest real estate firm in Utah, with