CEO of Low-Priced Syringe Maker Buys 2 Million Shares, Plus Other Noteworthy Insider Trading

Board Member of Office REIT Participates in Public Offering

One member of City Office REIT Inc. (NYSE:CIO)’s Board purchased a rather sizable block of shares last week as well. Board member Jeffrey D. Kohn bought 20,161 shares on Friday at a price tag of $12.40 each, lifting his overall holding to 223,861 shares.

Although the Form 4 filing submitted by Mr. Kohn does not contain such information, it appears that the Board member purchased the shares through the recently-held underwritten public offering of 5.75 million shares. The real estate investment trust focused on owning and acquiring office properties raised $71.3 million in the offering, which will likely be used to acquire office properties, repay amounts outstanding under its secured credit facility, as well as fund future acquisitions and investments. City Office REIT Inc. (NYSE:CIO) owns and has an interest in 4.4 million square feet of office properties. The six asset managers in our system that were invested in the office REIT at the end of the third quarter amassed roughly 7% of the company’s outstanding common stock. City Office’s shares are up by 12% in the past 12 months. Jim Simons’ Renaissance Technologies was the equity holder of 575,320 shares of City Office REIT Inc. (NYSE:CIO) at the end of the September quarter.

Board Member of Expanding Provider of Clean Energy Providers Buys Shares

A member of Tecogen Inc. (NASDAQ:TGEN)’s Board of Directors has been piling up more shares over the past several weeks. Charles T. Maxwell, a member of Tecogen’s Board since 2001, snatched up 25,000 shares on January 6 at a price of $4.00 per share. Mr. Maxwell purchased an additional 11,000 shares for $3.85 each and 1,000 shares at $3.84 apiece two days earlier. After these transactions, the director currently owns an aggregate of 129,769 shares.

Tecogen Inc. (NASDAQ:TGEN), which designs and manufactures cogeneration systems that produce combinations of electricity, hot water and air conditioning using automotive engines specially adapted to run on natural gas, has seen the value of its shares advance by 28% in the past year. In early-November, the provider of clean energy products agreed to acquire American DG Energy Inc. (NYSEMKT:ADGE) in a stock-for-stock merger, a transaction set to be completed in the first-half of this year. The all-stock merger creates a vertically-integrated clean technology company that will provide equipment design, manufacturing, installation, financing, and long-term maintenance services. Israel Englander’s Millennium Management reported ownership of 33,418 shares of Tecogen Inc. (NASDAQ:TGEN) in its 13F filing for the September quarter.

Let’s head to the final page of the article, where we’ll discuss the fresh insider selling observed at two companies.