SolarCity (SCTY), an installer of solar systems in the US, indicated a pricing in the range $13.00-$15.00 a share for its initial public offering of 10.07 million shares. This means the IPO could raise about $150 million and value around $1.08 billion at the top end of the pricing range. The company was founded in 2006 by Lyndon Rive, Peter Rive and Tesla Motors CEO Elon Musk.
Time Warner’s (NYSE:TWX) relationship with Village Roadshow Pictures Group, which was set to expire at the end of October 2014, has now been extended through 2017. The studio has also secured $1.12 billion in debt equity financing for future movie projects. The renewal of the agreement means another six to eight movies produced by Village Roadshow could be distributed by Warner Bros.
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Immersion Corporation (NASDAQ:IMMR) announced it had reached a settlement and license agreement with Google Inc (NASDAQ:GOOG) and Motorola Mobility LLC that would resolve patent infringement litigation initiated by the company against Motorola. The settlement fixes compensation for previous shipments of Motorola devices and licensing compensation for future shipments.
BP’s (NYSE:BP) global safety record takes another hit as Norway’s Petroleum Safety Authority orders the company to implement effective and immediate measures to comply with fire and explosion prevention regulations at its Ula P platform in the North Sea, which suffered an oil and gas leak in September. Specifically, the Petroleum Safety Authority required that passive fire protection needed to be installed, and the walls between the various processing modules on the platform are to be strengthened against explosion.
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