Benzinga's Microcap Movers for Thursday March 8, 2012
Below are highlights from Benzinga's daily coverage of microcap securities making big moves:
Shares of Verso Paper (NYSE: VRS), the Memphis, TN producer of coated paper, rose 68% Thursday on 42 times the average daily volume.
Verso Paper announced Wednesday that its subsidiary, Verso Paper Holdings, will launch a cash tender offer with respect to any and all of the outstanding 11½% senior secured notes due 2014 issued by it and Verso Paper.
Verso also announced today that it has received commitments from lenders for a new $150 million asset-based revolving loan facility and a new $50 million first-priority revolving facility. These commitments would be utilized in lieu of Verso's previously announced $100.0 million of commitments for an accounts receivable securitization facility and approximately $55.0 million of commitments to provide a new and/or extended revolving facility under Verso Holdings' existing senior secured revolving credit facility.
Verso Paper closed at $2.05 on Thursday.
Shares of TearLab (NASDAQ: TEAR), the San Diego, CA ophthalmic device company, rose 26% Thursday on 8times the average daily volume.
TearLab announced Wednesday that its Chief Scientific Officer, Benjamin Sullivan, Ph.D., will present an update on the Company's business at the 24th Annual ROTH Conference on Wednesday, March 14,
2012 at 12:00 p.m. Pacific Time. The conference will be held at The Ritz Carlton in Dana Point, CA.
TearLab expects to announce its 2011 financial results for the fourth quarter and full year 2011 before the market opens on Thursday, March 22, 2012.
TearLab closed at $2.85 on Thursday.
Shares of TransAct Energy (TEGY), the San Antonia, TX clean energy company, rose 900% Thursday on 265 times the average daily volume. Shares had traded as much as 3,000% higher during the day.
Benzinga attempted to contact the company's 1 fulltime employee CEO Roderick Bartlett, but there was no reply.
TransAct Energy closed at $0.10 on Thursday.
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