Capital Business Diary for week of Dec. 23

December 22, 2013

Short takes on the week's announcements and deals.

Acquisitions

Annapolis-based furniture retail start-up Great Gatherings said it has acquired Pooltablesusa.com, an online seller of game tables. Terms were not disclosed.

Charleston, W.Va.-based United Bankshares said it has received approval from the Federal Reserve for its previously announced acquisition of Arlington-based Virginia Commerce Bank. The deal is expected to close Jan. 31.

Bethesda-based private equity firm American Capital Ltd. said it has sold portfolio company DelStar to Alpharetta, Ga.-based SWM International for $97 million.

Expansions

Fairfax-based George Mason Mortgage has opened its 20th office, at 2600 Tower Oaks Blvd., Suite 100, Rockville, MD 20852.

Addison, Tex.-based restaurant chain Bar Louie is opening a location Wednesday at 320 23rd St. South, Arlington, VA 22202.

Funding

Bethesda-based uranium-enrichment company USEC said it has reached a deal with a majority of the holders of its senior convertible notes which will allow the company to replace approximately $530 million in convertible notes with $200 million in new debt and equity. The company also said it plans to file for Chapter 11 bankruptcy protection in the first quarter.

Bethesda-based pharmaceutical company Synthetic Biologics said it will sell 11.5 million shares of common stock in an underwritten public offering for $1 per share.

Reston-based national security, health and engineering contractor Leidos said it has entered an agreement with a financial institution to repurchase $300 million of its outstanding shares of common stock by March 2014.

— Compiled by Shawn Selby

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