Hamilton Square refinanced; merger update; e-mail encryption engagement.
The Provident Bank and real estate developer Silverman announced Tuesday a $12 million refinancing deal for Hamilton Square, a condominium development in Jersey City, which is more than 50 percent sold. Hamilton Square was initially financed by Eurohypo, and the original $50 million loan was refinanced by Provident for the remaining $12 million to complete the sales process.
AEP Industries Inc., of South Hackensack, announced Tuesday it has reached a definitive agreement to acquire all of the assets and specified liabilities of Webster Industries, a privately held manufacturer and distributor of food and trash bags, in a $28.4 million cash transaction.
Ness Technologies Inc., in Teaneck, announced Tuesday the company’s proposed merge with an affiliate of Citi Venture Capital International is now expected to close in late October.
American Oriental Bioengineering Inc., in Jersey City, announced Tuesday the New York Stock Exchange has notified the company it has fallen below its continued listing standard that requires a minimum average closing price of $1 per share over 30 consecutive trading days. The company has six months to cure the deficiency.
The U.S. Small Business Administration announced Tuesday it has designated Financial Resources Federal Credit Union, in Bridgewater, as a preferred lender.
Zix Corp. announced Wednesday that Kennedy Health System, in Voorhees, has renewed its contract for ZixCorp’s e-mail encryption services in a five-year agreement.