Pacific Office in debt-for-shares swap
Pacific Office Properties Trust Inc., a real estate investment trust headed by Honolulu real estate executive Jay H. Shidler, has executed a debt-for-shares swap involving about $3 million of subordinated promissory notes.
The firm said it issued about 790,000 of common stock for the debt, which was canceled. The exchange was completed at a per-share price of $3.82, or the average closing market price of the stock for the prior 30 days.
Pacific Office said the debt had been held by several entities linked with the company's management, including Shidler Equities L.P., Reynolds Partners L.P., MJR Equities LLC and JRI Equities LLC.
ISLE JOBS ADVERTISED ONLINE INCREASE
The number of Hawai'i job vacancies advertised online rose by 700 from August to September, according to a new report from The Conference Board.
The New York-based business research group reported it found 15,700 vacancies for September.
The report also showed while there was a month-over-month increase from August to September, the year-over-year numbers remain down. In September 2008, there were 20,500 jobs advertised online.
CHUA TO HEAD HIBEAM ORGANIZATION
Bee Leng Chua has been named executive director of HiBEAM, an organization that helps launch and build promising early-stage Hawai'i technology, biotechnology and life science companies.
Chua came to Hawai'i from The Chinese University of Hong Kong to help Hawai'i Pacific University launch its Entrepreneurship Center in the College of Business Administration. She has 18 years of entrepreneurial accomplishments in Hong Kong.
"We are extraordinarily fortunate to have Dr. Chua join us at this time. She is an experienced and dynamic leader in the entrepreneurial arena, and her connections in Asia and the Mainland will be significant for Hawai'i's entrepreneurs," said Bill Richardson, HiBEAM chairman.