Mainebiz

W W W. M A I N E B I Z . B I Z 9 JA N UA R Y 1 1 , 2 0 1 6 It was the first time since 1998 that an American vessel won the race. Timothy Hodgdon, president of the six-generation boatbuilder, told the Portland Press Herald that win- ning the race was a major accom- plishment by the boat's crew and the boat. N O T E W O R T H Y M I D C O A S T & D O W N E A S T Camden National Corp. announced that its board of directors declared a dividend of 30 cents a share pay- able on Jan. 29, for shareholders of record on Jan. 15. The bank also reported third quarter 2015 core operating earnings and core diluted earnings per share of $7.0 million and 93 cents per share, respec- tively, representing increases of 8% over the third quarter of 2014. Third quarter 2015 net income and diluted earnings per share of $6.5 million and 86 cents a share, respectively, was flat compared to the third quar- ter of 2014, as it included one-time costs of $766,000 related to the merger with SBM Financial Inc. in the third quarter of 2015 that closed on Oct. 16, 2015. R edfern Longfellow LLC kept the momentum of last year's high fund-raises going by pulling in all of a $4.3 million equity offering, the first of 2016. e Portland-based residential real estate company started sell- ing the equity on Dec. 22, accord- ing to a Securities and Exchange Commission document. Redfern has proposed to build a $20 million, 132-unit apartment building on Congress Street near Longfellow Square in Portland. e company last March sought a zoning change from the city of Portland and, on Dec. 17, an order accepting ease- ment rights for sewers and drainage went into effect. Executive officers Jonathan and Catherine Culley were listed on the offering. Rounding out 2015, Academic Merit LLC sold $1,244,000 of an indefinite equity offering in an SEC filing dated Dec. 30. e fund-raise began Dec. 21. e Falmouth-based company also raised $200,000 of a $300,000 equity offering last summer, with the first date of sale on June 29. CEO Steven Shapiro told Mainebiz at the time that Academic Merit as a cloud-based platform that informs writing and critical thinking for K-12 teachers and students. "It helps train the teachers around writing and reading. It can assess stu- dents so they can teach students in the classroom who are on different levels," Shapiro said. Part of the product, com- prised of modules, is the assessment tool that helps discover the reading and writing skills of students and bet- ter help them going forward. In the summer Shapiro said he wanted to improve the product's functions and expected to start a large project with a new partner. e product is used in Massachusetts, Maine and New Jersey schools, and is slated to expand to Florida in September and later nationwide with the new partner. Last year saw other large fund raises. e highest new fund-raise was Direct Vet Marketing Inc., a Portland-based veterinary services company doing business as Vets First Choice. In July it raised all of a $52.3 million equity funding. Earlier in the year, in March, it also raised all of a $5,202,000 equity funding. e com- pany has been expanding its network of veterinary partners as well as new services. CEO Benjamin Shaw said the company also wants to pursue strategic business opportunities. In addition, Spinnaker Income Partners LP of Portland sold all of a $7,025,000 indefinite pooled invest- ment interest offering in November. In October Spinnaker Diversified Managers Fund LLC, another pooled investment fund, sold all of a $20,007,666 indefinite equity raise. Also in October, commercial bank Camden National Corp. raised all of a $15 million debt offering around the same time it completed its merger with Bank of Maine. B I Z M O N E Y B Y L O R I V A L I G R A Fund raising rings in the new year MaineGeneral's Harold Alfond Center for Cancer Care • Offering highly advanced cancer treatment techniques and increased patient safety. • Our new linear accelerator — the latest technology available — offers greater precision, safety and speed to treat a variety of cancers. • Our team of oncologists, medical physicists and dosimetrists are all board certified. World-class cancer care. Right here. Harold Alfond Center for Cancer Care 361 Old Belgrade Road, Augusta, ME 04330 207.621.6100 www.mainegeneral.org/cancer If you have questions about MaineGeneral's services, call toll-free 1-855-4MGH-INFO

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