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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.

The Utah Transit Authority Lands a $62.8 Million Federal Grant for a 7-Mile, 15-Stop Cross-Valley, Bus Rapid Transit Line in Salt Lake County

The Utah Transit Authority Lands a $62.8 Million Federal Grant for a 7-Mile, 15-Stop Cross-Valley, Bus Rapid Transit Line in Salt Lake County

The $62.8 million grant from the Federal Transit Administration will cover ~60% of the total to fund the expected $104.1 million cost to build / launch the UTA's new BRT line. Plus, the FTA grant will also cover the cost for all Midvalley Express BRT riders for

Utah's Division of Outdoor Recreation will Spend $20 Million Enhancing 31 Recreation Spots Across the State

Utah's Division of Outdoor Recreation will Spend $20 Million Enhancing 31 Recreation Spots Across the State

The complete list of all 31 recreation sites where grant monies will be spent is outlined below within this writeup. The state of Utah is spending $20 million to improve outdoor recreation at 31 sites in the months ahead. According to the recent announcement from the Utah Division of Outdoor

NEWS BRIEF: Utah-based Health Catalyst is Acquiring Virginia-based Intraprise Health for $43 Million in Cash and Stock

NEWS BRIEF: Utah-based Health Catalyst is Acquiring Virginia-based Intraprise Health for $43 Million in Cash and Stock

Salt Lake City-based Health Catalyst (NASDAQ:HCAT) is acquiring Reston, Virgina-based Intraprise Health for $43 million in cash and stock. According to the acquisition news release, Intraprise "... is (considered) the leading compliance and cybersecurity organization that provides a holistic visualization of compliance and security posture for healthcare." According

NEWS BRIEF: Utah-based rPlus Energies Lands $304 Million in New Financings to Help Drive Renewable Energy Projects

In 2024, rPlus has now raised nearly $1.9 billion in equity and debt financings to support over 1.2 Gigawatts of projects under construction and an additional 15GW in development. Salt Lake City, Utah-based rPlus Energies has landed $304 million in new financings to help it drive construction of

NEWS BRIEF: Utah-based Varex Imaging is Raising $125 Million through the Sale of 7.857% Senior Secured Notes

NEWS BRIEF: Utah-based Varex Imaging is Raising $125 Million through the Sale of 7.857% Senior Secured Notes

One of the world's largest manufacturers of components for medical and industrial X-ray machines, Salt Lake City, Utah-based Varex Imaging (NASDAQ:VREX), has announced plans to raise $125 million through a bond sale. According to its news release earlier this week, Varex expects to sell $125 million of

NEWS BRIEF: A Colorado-based Energy Company is Selling 126,000 Acres of Uinta Basin Land for $2.0 Billion

NEWS BRIEF: A Colorado-based Energy Company is Selling 126,000 Acres of Uinta Basin Land for $2.0 Billion

In Utah news not apparently reported previously in the state, Denver, Colorado-based Ovintiv (NYSE:OVV) is selling 126,000 acres of oil-producing land in Utah's Unita Basis for $2.0 billion in cash. According to the recent Ovintiv news release, Ovintiv announced two separate yet interrelated agreements, specifically:

Multiple Yet Unnamed Utah Governmental Entities will Spend at Least $60 Million to Purchase 203* New Heavy-Duty, Zero-Emission Vehicles

Multiple Yet Unnamed Utah Governmental Entities will Spend at Least $60 Million to Purchase 203* New Heavy-Duty, Zero-Emission Vehicles

Although the final combined payment required has not yet been disclosed to complete the planned purchases, several yet unnamed governmental entities in Utah will receive $60 million in federal grant monies to purchase 203* new heavy-duty, zero-emission vehicles. Here's the rest of the story. The U.S. Environmental