TRI-CITIES
PASADENA
Private Offering: Arrowhead Research Corp., a Pasadena biotech firm, has closed an offering of common and convertible preferred stock with gross proceeds of $36 million. The financing was led by RA Capital, a San Diego investment firm. Arrowhead plans to use the money on product development.
SOUTH BAY
WILMINGTON
Railyard Approved: The Los Angeles City Council voted 11-2 to approve a lease agreement with BNSF Railway Co. for construction and operation of a controversial $500 million rail yard near the Port of Los Angeles. Under the 50-year lease, BNSF will turn 150 acres of Wilmington industrial space about four miles north of the Port of Los Angeles into a facility for loading port cargo onto trains from trucks.
WESTSIDE
WESTWOOD
Stock Split: Catasys Inc., a Westwood health care firm, has announced a 10-1 reverse stock split. The split will leave about 14.2 million shares of common stock. The company’s stock trades over-the-counter.
PACIFIC PALISADES
Flex Appeal: Studio K Training has chosen Pacific Palisades for its first studio location, at 17351 W. Sunset Blvd. The limited-membership, high-end fitness studio was launched by Bryan Green, chief executive of Culver City’s Advantage Fitness Products, which designs and installs fitness centers. Green said he is looking at expanding his studio concept to San Francisco, New York and Miami.
SANTA MONICA
Pretty Ugly: Boldface Group Inc., a Santa Monica celebrity beauty licensing company, has reached a licensing deal for the use of the Uglydoll brand. The deal, with Pretty Ugly LLC of Green Brook, N.J., will allow Boldface to create a range of beauty products targeting children and adults.
beverly hills
Creative Intent: Santa Monica’s Boto Design Architects has acquired a Beverly Hills office building for $5.4 million from North America Real Estate Development Inc. The three-story, 15,551-square-foot building, at 113 N. San Vicente Blvd., has 36 covered parking spaces. Boto plans on converting the vacant property into creative space.
SAN FERNANDO VALLEY
WESTLAKE VILLAGE
Public Offering: LTC Properties Inc., a Westlake Village real estate investment trust, will offer 3 million shares in a planned public offering of common stock. The company said it plans to use the proceeds to pay existing debt as well as to fund acquisitions and planned property developments. Its current portfolio is made up of senior living and health care-related properties.
CENTRAL AREA
WEST HOLLYWOOD
Reverse Split: Seven Arts Entertainment Inc., a West Hollywood movie producer and distributor, has announced a 50-1 reverse stock split. About 4.3 million shares of common stock are expected after completion of the reverse split. Seven Arts trades over-the-counter.
