Ninetowns Internet Technology Group Company Limited (NASDAQ: NINE) reached up 75.93% in morning trading to $1.90 with 250K shares traded. Ninetowns was founded in 1995, and became the first Chinese software company to trade on the NASDAQ Stock Exchange following its initial public offering in December 2004. As a leading provider of online solutions for international trade, with around 90% market share, Ninetowns’ import/export e-filing services enable over 134,000 enterprises to accelerate the declaration process. In order to leverage its unrivalled technological capability within its core Enterprises to Government (B2G) business and create complementary revenue streams, Ninetowns has strategically expanded its scope of activities to encompass its Business to Consumer (B2C) e-Grocery and Smarter City real estate development (SCRE) businesses. Ninetowns Internet Technology Group Company Limited (NASDAQ: NINE) today announced that its Board of Directors has received a preliminary non-binding proposal letter, dated October 12, 2012, from certain directors and officers of the Company, including Mr. Shuang Wang, Ms. Min Dong, Mr. Xiaoguang Ren, Mr. Kin Fai Ng, Mr. Bolin Wu, Mr. Zhonghai Xu, Mr. Tommy Siu Lun Fork and affiliates of some of these directors and officers (together, the "Consortium Members"), that proposes a "going-private" transaction involving the acquisition of all of the outstanding ordinary shares of the Company not already owned by the Consortium Members at a price per share in the range of US$1.80 to US$2.00 in cash (the "Transaction").
InVivo Therapeutics Holdings Corp. (OTCBB:NVIV) reached up 13.79% in morning trading to $1.65 with 80K shares traded. InVivo Therapeutics Holdings Corp. is focused on utilizing polymers as a platform technology to develop treatments to improve function in individuals paralyzed as a result of traumatic spinal cord injury. The Company was founded in 2005 on the basis of proprietary technology co-invented by Robert Langer, ScD., Professor at Massachusetts Institute of Technology, and Joseph P. Vacanti, M.D., who is affiliated with Massachusetts General Hospital. In 2011, data from a Company study was published in the Journal of Neuroscience Methods and won the prestigious 2011 Apple Award from the American Spinal Injury Association recognizing excellence in SCI research. InVivo Therapeutics Holdings Corp. (NVIV) today released a letter to Shareholders.
Motricity, Inc. (Nasdaq:MOTR) reached up 29.19% in morning trading to $.513 with 1M shares traded. Motricity empowers mobile operators, brands and advertising agencies to maximize the reach and economic potential of the mobile ecosystem through the delivery of relevance-driven merchandising, marketing and advertising solutions. Motricity leverages advanced predictive analytics capabilities to deliver the right content, to the right person at the right time. Motricity provides their entire suite of mobile data service solutions through one, integrated, highly scalable managed service platform. Motricity, Inc. (Nasdaq:MOTR) yesterday announced the results of its previously announced rights offering (the "Rights Offering"). Pursuant to the Rights Offering, on July 23, 2012, the Company distributed 46,163,685 subscription rights to the holders of its common stock.
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