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Finance

Providing perspective and contextual insights on the monetary aspects of the Finance industry within the state of Utah, from Banking to FinTech and from venture capital to cryptocurrency.

Four Major Sports Business Moves in Utah over the First Two Days of July 2024

Four Major Sports Business Moves in Utah over the First Two Days of July 2024

In case you missed it, the state of Utah saw four significant sports business announcements made in the first two days of July: Two from the University of Utah, one from Utah State University, and last but not least, the announcement with the biggest potential financial impact, news involving Smith

BREAKING NEWS: Salt Lake City-based Recursion Pharmaceuticals Announces a $200 Million Public Offering

BREAKING NEWS: Salt Lake City-based Recursion Pharmaceuticals Announces a $200 Million Public Offering

Salt Lake City, Utah-based Recursion Pharmaceuticals (NASDAQ:RXRX) announced last Wednesday, 26 June 2024, that it plans to raise $200 million in a secondary public offering. According to its news release, Recursion "... intends to offer and sell $200 million of shares of its Class A common stock in an

BREAKING NEWS: Colorado-based SM Energy is Spending $2.55 Billion to Acquire 37,200 Acres of Oil/Gas Producing Land in Utah's Uninta Basin from XCL Resources

BREAKING NEWS: Colorado-based SM Energy is Spending $2.55 Billion to Acquire 37,200 Acres of Oil/Gas Producing Land in Utah's Uninta Basin from XCL Resources

The XCL Resources land in Utah's Unit Basin currently produces ~43,000 barrels of oil and gas daily.

BREAKING NEWS: Lehi, Utah-based Route has Closed a $40 Million C Round of Funding at a Valuation of $1.4 Billion

BREAKING NEWS: Lehi, Utah-based Route has Closed a $40 Million C Round of Funding at a Valuation of $1.4 Billion

Since its launch in 2019, Route has insured over $15B in eCommerce product purchases.

NEWS BRIEF: Orem, Utah-based Ovation Raises an Additional $2.0 Million in a Continuation and Closure of its "A Round" of Funding

NEWS BRIEF: Orem, Utah-based Ovation Raises an Additional $2.0 Million in a Continuation and Closure of its "A Round" of Funding

In total, Ovation "... has now raised a little bit over $9.0 million in total through all its external financings."

BREAKING NEWS: South Jordan, Utah-based GPS Capital Markets is Being Acquired for $725 Million by NYSE-Listed Corpay

BREAKING NEWS: South Jordan, Utah-based GPS Capital Markets is Being Acquired for $725 Million by NYSE-Listed Corpay

To me, this is another example of a relatively stealthy Utah-based company making a "splash" in Utah's business ecosystem with a significant monetary / financial transaction.

NEWS BRIEF: Lehi, Utah-based LegalTech Firm, Hona, Closes a $9.5 Million Round of Series A Funding

NEWS BRIEF: Lehi, Utah-based LegalTech Firm, Hona, Closes a $9.5 Million Round of Series A Funding

Lehi, Utah-based Hona has raised $9.5 million in a Series A round of funding that was "... led by Costanoa Ventures with participation from Ludlow Ventures, Soma Capital and Y Combinator." As noted in its funding news release, Hona is "... dedicated to revolutionizing client communication (for law