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Latest Reckson Associates Realty News

LONG ISLAND INC. / Merger Results In FalconStor Software

Feb 26, 2018

By Monty Phan, Alan J. Wax, Charles V. Zehren, Bloomberg News August 23, 2001 8:00 PM completion of its merger with Network Peripherals Inc. of California , making the Long Island software maker a publicly traded company. The new company, FalconStor Software Inc., will be based in Melville and will trade on the Nasdaq under the symbol FALC. As a result of the deal, which was announced in May, privately held FalconStor turns public via its acquisition of Network Peripherals. Known as a reverse merger, it gives privately held companies the chance to go public when market conditions make an Get the Biz Briefing newsletter! The latest LI business news in your inbox Monday through Friday. initial public offering undesirable. shareholders will own about 70 percent, or about 31.3 million shares. Network Peripherals, of Fremont , Calif., closed at $9.60 per share yesterday. FalconStor specializes in network-storage software that allows companies to use the Internet or other networks to access storage sources over great distances. Reckson Associates Realty Corp. is being cashed out of its stake in a Pennsylvania real estate investment trust for $35.7 million. West Conshonhocken, Pa.-based Keystone Property Trust said Wednesday that it is purchasing all of the preferred shares it issued to Reckson in May 2000, when it bought five big-box industrial buildings from the Long Island company. The preferred shares were valued at $25.5 million. Wednesday, Keystone sold 2.5 million shares and tapped a bank credit line to pay for Melville-based Reckson's holdings. - Alan J. Wax noise reduction equipment, yesterday announced a series of promotions and management changes. joined the company in November 1998, had been president and COO. As part of the restructuring, Joseph Marash and Richard A. Maue were promoted to executive vice president. Marash will remain as chief technology officer and Maue CFO and corporate secretary. Namesake Douglas J. Andrea will continue to serve as chairman of the company's board of directors. - Charles V. Zehren months after the $32 billion merger that created the second-largest U.S. bank, according to an internal survey obtained by Bloomberg News . The number of respondents who gave a favorable rating to their departments' service fell to 60 percent in the poll, which was conducted in May and June. That's down from 69 percent in a similar study done in December and January, when Chase Manhattan Corp. bought J.P. Morgan Chase. "It's not unusual that a company going through the trauma of a consolidation suffers some erosion of service," said Raphael Soifer, chairman of Soifer Consulting LLC, which advises financial services companies. The survey's findings underscore the difficulties combining almost 100,000 workers in more than a dozen businesses while the economy and stock market stumble. Bank employees were asked 39 questions, including whether management encourages diversity and if colleagues from the two banks are cooperating on the job. by losses on venture capital investments and falling fees for underwriting and trading securities. eliminated since the merger was announced in September. More job cuts are expected.

Reckson Associates Realty Investments

1 Investments

Reckson Associates Realty has made 1 investments. Their latest investment was in Captivate Network as part of their Series C on April 4, 2000.

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Reckson Associates Realty Investments Activity

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Reckson Associates Realty Portfolio Exits

1 Portfolio Exit

Reckson Associates Realty has 1 portfolio exit. Their latest portfolio exit was Captivate Network on April 20, 2004.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

4/20/2004

Acquired

Date

4/20/2004

Exit

Acquired

Companies

Valuation

Acquirer

Sources

Reckson Associates Realty Team

2 Team Members

Reckson Associates Realty has 2 team members, including former Chief Financial Officer, Michael Maturo.

Name

Work History

Title

Status

Michael Maturo

Chief Financial Officer

Former

Jason Barnett

Executive Vice President

Former

Name

Michael Maturo

Jason Barnett

Work History

Title

Chief Financial Officer

Executive Vice President

Status

Former

Former

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