Utility companies gear up for hurricane season
Power companies and cooperatives in Florida continue to brace facilities and engage in mock storm training events in preparation for hurricane season, despite some forecasts of a “below normal” period with relatively few storms. Officials from most of the electric providers in the state briefly outlined general efforts on Monday to clear vegetation from thousands of miles of power lines, engage in required pole inspections, firm up mutual aid contracts, and fine-tune communication. More from the News Service of Florida.
Miami company secures key FDA pediatric disease designation for drug
A Miami Beach biotechnology company developing new treatments for central nervous system disorders received a key designation from the U.S. Food and Drug Administration. Pasithea Therapeutics was granted a rare pediatric disease designation for PAS-004, a drug to treat neurofibromatosis type-1. The condition, a genetic disorder that causes tumors to grow on nerves throughout the body and cause changes in skin pigmentation, is often diagnosed in childhood. More from the South Florida Business Journal.
‘Brought people to the table:’ Orlando business program promoting minorities, women officially replaced
Orlando city commissioners voted Monday to replace its Minority and Women Business Enterprise Program, nearly a year after the city suspended the program. Commissioners approved the creation of a small business enterprise preference program that encourages and promotes the participation of certified businesses in contracting and procurement with the city. The program includes a preference scale for veteran-owned business, but the ordinance establishing the program eliminates any references to “women” or “minorities.” More from Click Orlando.
Blue Owl to acquire Tampa healthcare REIT for $2.4B
Affiliates of Blue Owl Real Estate Capital will purchase Sila for $30.38 per share, a 19% premium to the company’s April 17 closing price and a 25.6% premium to its 30-day volume-weighted average. The agreement was unanimously approved by Sila’s board. The transaction is expected to close in the second or third quarter of 2026, subject to shareholder approval and customary conditions. Upon completion, Sila will become a private company and its shares will no longer trade on the New York Stock Exchange. More from Tampa Bay Business & Wealth.
RYAM reviewing strategic alternatives
After seven years of financial losses, Rayonier Advanced Materials Inc., or RYAM, said April 20 it is starting a formal process of exploring strategic alternatives. The Jacksonville-based maker of cellulose specialty products also said CEO Scott Sutton, who joined the company only in January, has resigned. RYAM formed an interim office of the chief executive comprising several top executives to run the company for now. More from the Jacksonville Daily Record.
Event
Maker Faire Miami returns this weekend with biggest festival yet
If Miami Tech Week’s schedule has you going nonstop, make a plan to go on a fun weekend adventure with your family or friends into the heart of the Maker Movement. For 13 years, the family-friendly Maker Faire Miami has brought together thousands of engineers, artists, inventors, creators, tinkerers, and families. From robots to drones, art to design, and aerospace to AI, this year’s Maker Faire Miami features over 250 makers and exhibitors.
» More from Refresh Miami.
Florida Trend Exclusive
Dream finder
The Great Financial Crisis of 2008 hurt all sectors, but its roots in subprime mortgage failures hit homebuilders especially hard. It wasn't an ideal time to be in your late 20s, having just taken the risk of walking away from a stable corporate job to launch your own homebuilding company. But that's where Patrick Zalupski found himself, pretty much broke after the nine-unit Bay Street Condominium in Northeast Florida's Green Cove Springs — his first new construction project — became another casualty of an economy in freefall.
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