More corporate finance news out of Clarksville-based First Advantage Bancorp: After saying Monday it plans to take the company private next month, the board of directors has now voted to launch a repurchase plan for 5 percent of outstanding shares. The plan is the sixth since 2008 at First Advantage; the fourth and fifth have yet to be completed.
If Hemlock Semiconductor doesn't crank up operations at its massive Clarksville plant by year's end, it will have to cover the principal payments on the $20 million loan Montgomery County officials took out to buy the land under the facility. Mark Hicks at the Leaf-Chronicle has the details.
The terms are part of a performance-based agreement between HSC and the EDC, in which Hemlock committed to a $1 billion investment, which Chavez noted to company exceeded by $1 billion, and 500 jobs, “but they’re short on jobs by about 400,” he said.
Hemlock Semiconductor has confirmed that the 300 people whose jobs were furloughed early this year at the company's brand new Clarksville plant are being given severance packages and job placement services. Jimmy Settle with the Leaf-Chronicle has the details.