* TSI TelSys of Bethesda, a maker of equipment for satellite communications systems, received approval from the TSX Venture Exchange, an arm of the Toronto Stock Exchange, to sell 566,550 shares for 14 cents each to four of the company's executives; Vice President Gary Bruce, Chief Financial Officer Paul Sevigny, and board members James Adamson and Lincoln Faurer. The sale raised $79,317. Shares of TSI TelSys closed at 9 cents. The company announced last year that it planned to sell up to 5 million shares of stock for as much as 14 cents each in a private placement. This is the second sale within that offering.
* Mantech, a Fairfax government contractor, said it completed its acquisition of Greenbelt-based MSM Security Services. MSM helps conduct background investigations for government security clearances. MSM originally agreed to the purchase, which included a $4.6 million cash payment and a provision for future payments based on performance, in late February.
* Talk America Holdings of Reston reduced its long-term debt by $4.2 million by buying back some senior subordinated notes and prepaying some convertible notes. The integrated communications provider said in a statement that it will record a non-cash gain of $700,000 in connection with the purchase of $3 million of its 12 percent senior subordinated notes due in 2007. The company also prepaid $1.2 million of its 8 percent convertible notes due in 2006. Its long-term debt stands at $91.2 million.
Compiled from reports by Washington Post staff writers, washingtonpost.com and Dow Jones News Service