San Diego Business Journal

SD BUSINESS JOURNAL DAILY ENEWS

GA-ASI Awarded $371 Million Air Force Contract

The U.S. Air Force placed a $371 million order with Poway-based General Atomics Aeronautical Systems Inc. for 30 Reaper remotely operated unmanned aircraft.

PatientSafe Solutions Raises Nearly $4.5 Million in Financing Round

PatientSafe Solutions Inc. this month reported selling nearly $4.5 million in notes convertible to preferred stock in the San Diego-based health-care information technology company.

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Cubic Corp. Names Two Senior VPs

Cubic Corp. has named two new senior vice presidents for its defense business, including a recently retired U.S. Army three-star general.

TPT Global Tech Acquires Digithrive

TPT Global Tech Inc., a downtown company that does business in the telecom space, announced another acquisition on Aug. 16. The business said that it had completed its acquisition of Digithrive, a company that offers web and app development services. Terms of the deal were not disclosed.

Staffing Agency to Pay $175,000 to Settle Federal Complaint

The U.S. Department of Justice announced Monday TEG Staffing Inc., a San Diego-based temporary staffing agency also known as Eastridge Workforce Solutions, has agreed to pay $175,000 in civil penalties and undergo federal monitoring to settle an immigration-related discrimination claim.

Airgain Inc. IPO Closes at $8.30 Per Share on 2nd Day

Shares in Airgain Inc. closed up almost 4 percent at $8.30 on Aug. 15 — their second day of trading following the company’s $12 million initial public offering.

Neighborhood National Bank Raises $6 Million

San Diego’s only community development financial institution, or CDFI, on Monday announced a $6 million recapitalization agreement.

Vincent Aurentz Joins Arena Pharmaceuticals

San Diego drugmaker Arena Pharmaceuticals Inc. announced that Vincent Aurentz is joining the company as executive vice president and chief business officer, effective today.

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Barracks to be Converted into $20M Hotel at Liberty Station

San Diego-based McMillin LLC and Untitled Hospitality plan to develop a new arts-themed, $20 million hotel called The Barracks Hotel, using historic buildings at Liberty Station in Point Loma.

Jerome Zeldis Named CMO at Sorrento Therapeutics

The former chief medical officer of pharmaceutical giant Celgene Corp., Dr. Jerome Zeldis, is joining San Diego’s Sorrento Therapeutics Inc. as its new chief medical officer and president of clinical development.

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Owner Begins $6.6 Million Renovation of Aventine Office Building

Owner Rockpoint Group has begun a $6.6 million renovation of its Aventine office building at University Towne Center, following its 2015 purchase of the building at 8910 University Center Lane.

Developer Plans $13.5M Industrial Park in Escondido After Land Purchase

San Diego-based Badiee Development Inc. has purchased a 4.87-acre parcel in Escondido, with plans to build a new $13.5 million industrial park.

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Faheem Hasnain Joins Board of Vital Therapies

Faheem Hasnain, a well-respected biotech executive, has been appointed to Vital Therapies Inc.’s board of directors.

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Work begins on $100M Residential Community in San Marcos

The Southern California division of homebuilder Brookfield Residential has begun grading and land development work on Rancho Tesoro, a new $100 million master-planned community in San Marcos.

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Developer's Tustin Legacy Won't Include Baseball

San Diego developer OliverMcMillan and team officials have apparently struck out in efforts to bring the Los Angeles Angels to the developer’s proposed Tustin Legacy project in Orange County, according to published reports.

Contractor Awarded $9.7M Navy Contract

The U.S. Navy awarded A&D General Contracting Inc. a $9.7 million task order to build a combat service support facility at Marine Corps Base Camp Pendleton.

Halozyme Therapeutics Increases Estimate for Yearly Net Revenue

Halozyme Therapeutics Inc. bumped its estimate for this year’s total net revenue haul to a high of $150 million, according to a recent financial statement.

BAE Systems Makes $300,000 Contribution to Bridge Lighting Art Project

BAE Systems, the British defense contractor that runs one of the U.S. Navy ship repair businesses in Barrio Logan, has contributed $300,000 to a project that would bathe the San Diego-Coronado Bay Bridge with artistic lighting at night.

The Business Calendar for the Week of August 15, 2016

Some of the business events scheduled in the county for the week of August 15, 2016, and beyond.

BNBuilders Gets $2.7M Contract for Hall of Justice Renovation

The San Diego office of general contractor BNBuilders has been awarded a $2.7 million contract for a renovation of San Diego County’s Hall of Justice, the downtown location of the state Superior Court.