Triad Guaranty Inc. (OTCMKTS:TGIC) shares soared 355.30% to $0.765 on no official news. TGIC is a holding company which, through its wholly-owned subsidiary, Triad Guaranty Insurance Corporation (TGIC), is a nationwide mortgage insurer. During the year ended December 31, 2011, Collateral Mortgage, Ltd. (CHL) owns 16.8% of the common stock of TGI. The Company has historically provided Primary and Modified Pool mortgages guaranty insurance coverage on United States residential mortgage loans.
Plug Power Inc (NASDAQ:PLUG) shares increased 33.90% to $0.448. The company, on May 20, announced that the preferred stock investment by Air Liquide closed on May 16. Plug Power issued 10,431 shares of convertible Series C Preferred Stock to Air Liquide and realized $2,595,400 in gross proceeds from the stock sale. The stock is entitled to receive dividends at a rate of 8 percent per year and is convertible into shares of common stock at a conversion price equal to $0.248794 per share.
Ballard Power Systems Inc. (USA) (NASDAQ:BLDP) shares jumped 31.65% to $1.83. The company, on May 28, announced the signing of a non-binding Memorandum of Understanding (MOU) with its partner Azure Hydrogen Corporation of Beijing, China (Azure), extending the scope of their collaboration to include fuel cell buses. The MOU with Azure envisions Ballard providing a manufacturing license agreement, engineering services, fuel cell stacks and components.
PharmAthene, Inc. (NYSEMKT:PIP) shares gained 26.87% to $2.03 after announcing over the weekend that the Delaware Supreme Court upheld the earlier ruling that SIGA (NYSE: SIGA) breached its contractual obligation to negotiate in good faith. The Court has remanded the case to the Delaware Court of Chancery for further reconsideration of the damages award, consistent with its opinion.
