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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 Top 11 Utah-focused Monetary, Financial and/or Business News Nuggets from the Second Half of July 2024 that You Might have Missed

The Top 11 Utah-focused Monetary, Financial and/or Business News Nuggets from the Second Half of July 2024 that You Might have Missed

{AUTHOR'S NOTE: Clearly, not every news announcement deserves to be the top story of the day. Nevertheless, many news items are significant and should be acknowledged as such. And in this writeup, you'll find info about 11 Utah-based firms and eight separate executives that we feel

NEWS BRIEF: Utah's Green Dot Bank is Fined $44.0 Million by the U.S. Federal Reserve Board

NEWS BRIEF: Utah's Green Dot Bank is Fined $44.0 Million by the U.S. Federal Reserve Board

Citing "... unfair and deceptive acts and practices in violation of Section 5(a)(1) of the FTC Act..." and "... a faulty consumer compliance risk management program ..." (from 2017 through 2022), the Federal Reserve also issued what appears to be a comprehensive Consent Order against Green Dot

But Wait, There's More: Utah-based Recursion Pharmaceuticals is Acquiring UK-based Exscientia for $688 Million in an All-Stock Deal

But Wait, There's More: Utah-based Recursion Pharmaceuticals is Acquiring UK-based Exscientia for $688 Million in an All-Stock Deal

Early yesterday morning (Thursday, 08 August 2024), Salt Lake City, Utah-based Recursion Pharmaceuticals (NASDAQ:RXRX) announced that is "combining" with Oxford, England-based Exscientia (NASDAQ:EXAI) in an all-stock transaction that will create a global tech-enabled drug-development / drug-discovery powerhouse. Under terms of the agreement disclosed in yesterday's

Creation of the World's First "Neuromap" by Utah-based Recursion Pharmaceuticals Triggers a $30 Million Payment from Roche and Genentech

Creation of the World's First "Neuromap" by Utah-based Recursion Pharmaceuticals Triggers a $30 Million Payment from Roche and Genentech

Recursion breakthrough leads to new type of mapping the brain.

NEWS & ANALYSIS: Utah's R1 RCM has Boosted its Value by ~60% in Just One Month as it's Now Agreed to be Acquired in an All-Cash Deal at a Valuation of $8.9 Billion by TowerBrook and Clayton, Dubilier & Rice

NEWS & ANALYSIS: Utah's R1 RCM has Boosted its Value by ~60% in Just One Month as it's Now Agreed to be Acquired in an All-Cash Deal at a Valuation of $8.9 Billion by TowerBrook and Clayton, Dubilier & Rice

Sometimes, the best decision is to "hold out for a better offer."

BREAKING NEWS: Less than Three Years After Being Acquired by SunPower for $165 Million, Utah-based Blue Raven Solar is Now "On the Market" at Fire Sale Prices as SunPower Files for Bankruptcy.

What's interesting about this news is that the pending buyer is Complete Solaria, a California-based firm that announced in April it is moving its headquarters to Salt Lake City. There are so many pieces flying around in this story, let me see if I can summarize all of

Utah-based Instructure is Being "Taken Private" for $4.8 Billion; Here's the Rest of the Story.

Utah-based Instructure is Being "Taken Private" for $4.8 Billion; Here's the Rest of the Story.

"... without Josh Coates in the mix, I'm dang certain Instructure doesn't sniff anything close to $7.2 billion on its 14-year journey.