Golden – New World Restaurant Group disclosed Tuesday it will raise $125 million through a stock offering, with the proceeds going to pay down existing debt.
New World, which operates about 600 restaurants under brands such as Einstein Bros. Bagels, has also filed an application to be listed on the Nasdaq Global Market under the ticker BAGL.
Morgan Stanley and Cowen and Co. will be the joint book-running managers for the offering, according to a regulatory filing.
Additional business news briefs:
POWAY, Calif.
Atlas rocket may give civilian craft a boost
A Lockheed Martin Corp. and Boeing Co. joint venture may provide rockets to launch SpaceDev Inc.’s spacecraft on commercial and tourist flights.
Lockheed and Boeing’s United Launch Alliance, based in the Denver area, has agreed to study the use of its Atlas V rocket to launch SpaceDev’s Dream Chaser spacecraft, said Mark Sirangelo, chief executive officer of Poway, Calif.-based SpaceDev.
SAN FRANCISCO
MediaNews loses bid to have suit dismissed
Hearst Corp. and ap Inc. lost their bid to dismiss an antitrust lawsuit after a judge ruled that a San Francisco businessman has the right to challenge MediaNews’ purchase of two California newspapers.
U.S. District Court Judge Susan Illston in San Francisco said in an order Tuesday that real estate investor Clint Reilly has standing as a consumer to press claims that MediaNews, the Denver-based owner of The Denver Post, and Hearst are forming a monopoly over newspapers in the Bay Area.
MediaNews bought the second- and third-largest newspapers in the Bay Area in a $1 billion deal that included $263 million from Hearst, which owns the San Francisco Chronicle.
KANSAS CITY, Mo.
Midwest launches K.C.-Springs flights
Midwest Airlines announced Tuesday the launch of regional jet service between Kansas City and Colorado Springs.
The Midwest Connect route will operate three round trips daily and four on weekends.
DENVER
Insurance co. moves into old Oracle space
Jackson National Life Insurance Co. announced Tuesday that its Denver operations have moved into the former Oracle I building at 7601 Technology Way in the Denver Tech Center.
The 183,000-square-foot location will enable Jackson, a provider of retirement planning products, to accommodate the company’s rapid growth.
DENVER
Stapleton launches bid for low-income buyers
American Sunrise Communities is partnering with Forest City Stapleton Inc. to create programs that help educate low-income families about the benefits of homeownership at Stapleton.
American Sunrise Communities, which held two HomeStart Conferences earlier this year, will hold another Saturday at 9:30 a.m., at Northfield Stapleton, 8246 E. 49th Ave. For information call 888-267-8626 or visit www.stapletondenver.com or www.americansunrise.org.
DENVER
Marsico cuts stake in homebuilder Lennar
Marsico Capital Management LLC slashed its stake in Lennar Corp., the biggest U.S. homebuilder, in which it had been the largest shareholder.
Marsico cut its stake to less than 1 percent and it now holds 5,898 shares, according to a filing Tuesday with the Securities and Exchange Commission. Denver-based Marsico had previously owned 19.6 million shares.
WASHINGTON
Regulators seek halt to refiner’s buyout
Federal regulators on Tuesday said they will seek a temporary restraining order and preliminary injunction to halt Western Refining Inc.’s $1.13 billion acquisition of rival energy company Giant Industries Inc.
The Federal Trade Commission said the proposed buyout would lead to reduced competition for the bulk supply of light petroleum products, including motor gasoline, to northern New Mexico, where the two companies directly compete.
CHICAGO
Use of company jet by media titan defended
Media magnate Conrad Black, on trial for allegedly bilking his former media empire out of millions, was urged by his company to use a corporate jet to travel to the Pacific island of Bora Bora on vacation because of safety concerns, his attorneys said Tuesday.
Defense attorney Edward L. Greenspan brushed aside prosecution claims that the August 2000 flight showed Black was siphoning funds that belonged to Hollinger International.
PHILADELPHIA
Equal calls Splenda’s ad claims sweet lies
The marketers of Splenda have made millions by confusing consumers into thinking the yellow packets contain a natural product and not an artificial sweetener, its chief rival told a jury Tuesday in a trial that pits Splenda against its rivals in the $355 million market for sugar substitutes.
Splenda has cornered the market for sugar substitutes since its 2000 debut through false advertising that implies Splenda contains sugar, the manufacturer of Equal says.
SAN FRANCISCO
Viacom picks Yahoo as online ad partner
Viacom Inc. has picked Yahoo Inc. as its online advertising partner in a multiyear deal that could help Yahoo become a more formidable challenger to Google Inc. – Viacom’s foe in a legal squabble over video copyrights.Financial terms weren’t disclosed.
New York-based Viacom probably will get 70 percent to 80 percent of the revenue generated from the Yahoo ads., based on the prevailing commissions in the Internet industry.
