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740664-000143774922004964-ex_342325 | EX-99.1
3
ex_342325.htm
EXHIBIT 99.1
ex_342325.htm
Exhibit 99.1
FOR IMMEDIATE RELEASE
Contact:
MKR Investor Relations Inc.
Todd Kehrli
Analyst/Investor Contact
(213) 277-5550
[email protected]
RF Industries Completes Acquisition of Microlab,
Expanding Product Offering and Market Opportunity
SAN DIEGO, CA, March 2, 2022
-
RF Industries, Ltd, (NASDAQ: RFIL)
, a national manufacturer and marketer of interconnect products and systems, today announced the completion of its previously announced acquisition of Microlab/FXR LLC (Microlab), the radio frequency components business of Wireless Telecom Group, Inc. (NYSE American: WTT).
Robert Dawson, President and CEO of RF Industries, commented, "We are excited about the significant opportunity this acquisition creates to innovate and drive a more powerful product roadmap for our combined company and welcome Microlab's talented employees and customers to RF Industries. Microlab brings us access to a new set of high-performance, network operator approved products that we can sell to our growing customer base and through our extensive distribution channel. In addition, Microlab has great customer relationships with both our existing distributor and key carrier ecosystem customers, which gives us more control of the bill of materials in key wireless applications.
"Microlab's products are considered the gold standard in RF and Microwave distribution systems, and with our focus on the significant growth opportunities we expect to see in the small cell and DAS markets, we believe their complementary products in these markets will provide additional scale and opportunity for overall margin improvement and further revenue growth".
Mark Holdsworth, Chairman of the Board of RF Industries, commented, "The acquisition of Microlab is another big step in the transformation of RF Industries as we continue executing on our strategic plan to grow both organically and through targeted acquisitions. This is the largest acquisition in RF Industries' history and we believe that the accretive nature of this acquisition shows our continued focus on providing shareholder value through the diligent use of capital. We look forward to completing the integration of Microlab as we continue to pursue a robust pipeline of future strategic opportunities".
Microlab designs and manufactures high-performance RF and Microwave products enabling signal distribution and deployment of in-building DAS (distributed antenna systems), wireless base stations and small cell networks, and generated unaudited revenue of approximately $16 million and adjusted EBITDA of approximately $3.7 million for the twelve-month period ended September 30, 2021. RF Industries expects the acquisition to be immediately accretive to its stand-alone financials and anticipates realizing meaningful operating synergies upon the integration of the Microlab business.
B. Riley Securities acted as the financial advisor to RF Industries and DLA Piper LLP (US) acted as legal advisor.
Craig-Hallum acted as the financial advisor to Wireless Telecom Group and Bryan Cave Leighton Paisner LLP acted as legal advisor.
About RF Industries
RF Industries designs and manufactures a broad range of interconnect products across diversified, growing markets, including wireless/wireline telecom, data communications and industrial. The Company's products include high-performance components such as RF connectors and adapters, dividers, directional couplers and filters, coaxial cables, data cables, wire harnesses, fiber optic cables, custom cabling, energy-efficient cooling systems and integrated small cell enclosures. The Company is headquartered in San Diego, California with additional operations in Long Island, New York, Vista, California, Milford, Connecticut, North Kingstown, Rhode Island and Parsippany, New Jersey. Please visit the RF Industries website at www.rfindustries.com.
Forward-Looking Statements
This press release contains forward-looking statements with respect to future events, including
opportunities for sales growth, overall margin improvement and revenue growth, which are subject to a number of factors that could cause actual results to differ materially.
Factors that could cause or contribute to such differences include, but are not limited to: the Company
'
s ability to successfully integrate Microlab and realize anticipated synergies, the duration and continuing impact of the coronavirus pandemic on the U.S. economy and the Company
'
s customers; changes in the telecommunications industry; the Company's reliance on certain distributors
and customers
for a significant portion of anticipated revenues; the impact of existing and additional future tariffs imposed by U.S and foreign nations; the Company's ability to execute on its new go-to-market strategies and channel models; its ability to expand its OEM relationships; its ability to continue to deliver newly designed and custom fiber optic and cabling products to principal customers; its ability to maintain strong margins and diversify its customer base; and its ability to address the changing needs of the market.
Further discussion of these and other potential risk factors may be found in the Company's public filings with the Securities and Exchange Commission (
www.sec.gov
) including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. All forward-looking statements are based upon information available to the Company on the date they are published, and the Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or new information after the date of this release.
# # #
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70318-000110465913073474-a13-21190_1ex99d1 | EX-99.1
9
a13-21190_1ex99d1.htm
EX-99.1, PRESS RELEASE DATED OCTOBER 1, 2013
Exhibit 99.1
Tenet Completes Acquisition of Vanguard Health Systems
Combined Operations Include 77 Acute Care Hospitals, 173 Outpatient Centers and 5 Health Plans;
Conifer Health Solutions Serving More than 600 Clients in 43 States;
More Than 100,000 Tenet Employees
DALLAS - October 1, 2013 -
Tenet Healthcare Corporation (NYSE:THC) has completed its previously announced acquisition of Vanguard Health Systems, Inc. for approximately $4.3 billion, or $21.00 per share of Vanguard stock, including the assumption of $2.5 billion of net Vanguard debt.
"Through this acquisition, we have significantly increased our scale and expanded the services we offer", said Trevor Fetter, Tenet's president and chief executive officer. "We intend to be a leader in addressing the opportunities in our healthcare system, and we are strongly positioned to drive improvements in quality and value for the millions of people to whom we provide care".
The company will retain its headquarters in Dallas and maintain a significant operations office in Nashville. Tenet now operates 77 acute care hospitals, 173 outpatient centers, five health plans and six accountable care organizations. An important new hospital is under construction in New Braunfels, Texas. In addition, the company includes Conifer Health Solutions, which provides health business process solutions at 15 service centers serving 600 clients across 43 states. Tenet employs more than 100,000 people.
As a result of the closing of this acquisition, Vanguard Health Systems (NYSE:VHS) has ceased trading on the New York Stock Exchange.
About Tenet Healthcare
Tenet Healthcare Corporation, a leading health care services company, through its subsidiaries operates 77 acute care hospitals, 173 outpatient centers and Conifer Health Solutions, a leader in business process solutions for health care providers serving more than 600 hospital and other clients nationwide. Tenet's hospitals and related health care facilities are committed to providing high quality care to patients in the communities they serve. For more information, please visit www.tenethealth.com.
Media:
Steven Campanini (469) 893-2247
Investors:
Thomas Rice (469) 893-2522
[email protected]
[email protected]
# # #
Forward Looking Statements
This document contains "forward-looking statements" - that is, statements that relate to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as "expect", "anticipate", "intend", "plan", "believe", "seek", "see", or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include, but are not limited to the factors disclosed under "Forward-Looking Statements" and "Risk Factors" in our Form 10-K for the year ended December 31, 2012, and in our quarterly reports on Form 10-Q, periodic reports on Form 8-K and other filings with the Securities and Exchange Commission. The information contained in this release is as of the date hereof. Tenet assumes no obligation to update forward-looking statements contained in this release as a result of new information or future events or developments.
Tenet uses its company website to provide important information to investors about the company including the posting of important announcements regarding financial performance and corporate developments.
2
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] |
1416712-000121390010003685-f8k082710ex99i_worldvest | EX-99.1
3
f8k082710ex99i_worldvest.htm
WORLDVEST, INC. PRESS RELEASE DATED AUGUST 27, 2010.
f8k082710ex99i_worldvest.htm
Exhibit 99.1
Press Release
August 27, 2010
WorldVest dba Iron Mining Group Completes Acquisition of Chilean
Iron Ore Company, Chile Inversiones de Minerales, Ltd.
Company Assets Consist of Iron Ore Reserves and Port Development Agreements
New York, NY August 27, 2010 -
WorldVest, Inc. (OTCBB: WOVT) dba. Iron Mining Group ("IMG" or the "Company"), announced that it has completed the acquisition of Chile Inversiones de Minerales Ltd., a Chilean mineral investment and mining company ("CIM"). CIM will serve as an operating subsidiary to IMG, allowing IMG the ability to consolidate various iron ore mining opportunities along with complementary port and logistics infrastructure in Chile.
As a result of the CIM acquisition, IMG has instantly acquired a portfolio of iron ore reserves within Chile's second and fourth regions, as well as critical contracts to utilize midsized regional ports adjacent to its reserves. The acquisition of these reserves allows for the immediate production and export of iron ore against the Company's existing contracts, resulting in a near-instant revenue ramp for IMG on a consolidated basis. In total, based on preliminary geological surveys, the acquired reserves are estimated to contain in excess of 100,000,000 metric tons of recoverable iron ore within the surface "iron-sands" alone. Further estimates indicate a strong potential for exponentially more reserves in the unexplored mountain and bedrock formations of CIM's Atacama Desert Project.
In addition to its existing reserves, CIM has additional iron ore properties either under contract, letter of intent or in advanced contract negotiations, which, once completed, will substantially boost the overall reserves. Furthermore, CIM is currently engaged in discussions regarding potential investments into certain port development opportunities throughout Chile with the goal of building port infrastructure, thereby increasing its export capacity to meet its growing contract demands. IMG believes that by acquiring new mining properties, coupled with the existing CIM reserves and the development of increased port capacity, the Company can ultimately grow its annual iron ore production and export capacity in excess 25,000,000 metric tons. Such production has the potential to push annual revenues toward $3.5 billion based on today's CIF iron ore prices and make IMG a major player in the global iron ore marketplace.
"By acquiring CIM, we have positioned Iron Mining Group to immediately enter iron ore production in this current year and begin generating a substantial revenue ramp by delivering the first shipments against our existing Chinese sales contracts", said IMG Chairman and Chief Executive Officer, Garrett K. Krause. "We are extremely pleased to be situated as a future leader within the underdeveloped Chilean iron ore export market and we are confident that, with our current iron ore projects and through the direction of our highly experienced and specialized management team both in Chile and the U.S., Iron Mining Group is approaching a period of rapid growth and prosperity".
About WorldVest, Inc. dba Iron Mining Group
.
WorldVest, Inc. (OTC: WOVT), dba Iron Mining Group, is a global iron ore mining and production company with its initial focus in Latin America. The Company has entered this marketplace at a time when its largest customer, China, seeks to alter the status quo by shifting power away from the traditional iron ore producers. Iron Mining Group has signed strategic joint venture agreements with several Chinese steel groups, which provide guaranteed long-term iron ore purchase agreements for 100% of available production and outline potential future financial investments into Iron Mining Group projects. For more information, please refer to www.ironmininggroup.com.
Investor Relations / Media please contact:
Michael Carney
Tel. (310) 277
-1513
Fax. (310) 919-3116
[email protected]
Forward Looking Statements:
Certain statements in this release and other written or oral statements made by or on behalf of the Company are "forward looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future are forward-looking statements within the meaning of these laws. The forward looking statements are subject to a number of risks and uncertainties including market acceptance of the Company's services and projects and the Company's continued access to capital and other risks and uncertainties outlined in its filings with the Securities and Exchange Commission, which are incorporated herein by reference. The actual results the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements.
| [
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",",
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1529979-000110465912058941-a12-18549_2ex99d1 | EX-99.1
8
a12-18549_2ex99d1.htm
EX-99.1
Exhibit 99.1
Thomson Reuters Successfully Completes FXall Tender Offer
NEW YORK, August 20, 2012 -
Thomson Reuters (TSX / NYSE: TRI), the world's leading source of intelligent information for businesses and professionals, announced today that its subsidiary, CB Transaction Corp. ("CB"), has successfully completed its cash tender offer for all of the outstanding shares of common stock of FX Alliance Inc. ("FXall") (NYSE: FX).
The tender offer expired as scheduled at 5:00 p.m., New York City time, on August 17, 2012, and was not extended. The depositary for the tender offer has advised that as of the expiration time, approximately 24,334,133 shares of FXall common stock (excluding shares subject to notices of guaranteed delivery) were validly tendered and not properly withdrawn, representing approximately 72.7% of the outstanding shares of common stock of FXall on a fully diluted basis. All shares that have been validly tendered and not properly withdrawn have been accepted for purchase, and payment for such shares will be made promptly in accordance with the terms of the tender offer and merger agreement at the offer price of $22.00 per share, net to the seller in cash, without interest and less any applicable withholding taxes.
Thomson Reuters expects to complete the acquisition of FXall promptly through a "short-form" merger of CB with and into FXall, with FXall as the surviving corporation. Pursant to the terms and conditions of the merger agreement, CB will exercise its "top-up" option to purchase directly from FXall an additional number of shares for $22.00 per share (the same per share price paid in the tender offer) so that CB owns at least 90% of the outstanding shares of FXall common stock, which will allow CB to complete and close the merger without a vote or meeting of FXall's stockholders through the "short-form" merger provisions of Delaware law.
At the effective time of the merger, all remaining FXall shares (other than shares owned by Thomson Reuters or any of its subsidiaries or held by FXall or any of its subsidiaries as treasury shares or shares held by FXall's stockholders who are entitled to and properly demand appraisal rights for their shares under Delaware law) will be canceled and converted into the right to receive the same $22.00 per share in cash paid in the tender offer, without interest and less any applicable withholding taxes. In addition, upon the completion of the merger, FXall's common stock will cease to be traded on the New York Stock Exchange and FXall will become a wholly owned indirect subsidiary of Thomson Reuters.
Thomson Reuters
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs approximately 60,000 people and operates in over 100 countries. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, go to www.thomsonreuters.com.
FXall
FXall is the leading independent global provider of electronic foreign exchange trading solutions, with over 1,000 institutional clients worldwide. FXall's offices in New York, Boston, Washington, London, Zurich, Hong Kong, Tokyo, Singapore, Sydney and Mumbai serve the needs of active traders, asset managers, corporate treasurers, banks, broker-dealers and prime brokers. For more information on FXall, visit www.fxall.com.
Thomson Reuters Special Note Regarding Forward Looking Statement
s
Certain statements in this news release and Thomson Reuters expectations regarding the timing for the closing of the transaction are forward-looking. These forward-looking statements are based on certain assumptions and reflect Thomson Reuters current expectations. As a result, forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Except as may be required by applicable law, Thomson Reuters disclaims any obligation to update or revise any forward-looking statements. Some of the material risk factors that could cause actual results or events to differ materially from those expressed in or implied by forward-looking statements in this news release are discussed in materials that Thomson Reuters from time to time files with, or furnishes to, the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission. Thomson Reuters annual and quarterly reports are also available in the "Investor Relations" section of thomsonreuters.com
.
FXall Cautionary Note Regarding Forward-Looking Statements
Certain statements in this news release constitute forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of FXall to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Any statements that refer to expectations or other characterizations of future events, circumstances or results, including, without limitation, all statements related to the proposed business combination transaction and related transactions and the outlook for FXall's businesses, performance and opportunities, the anticipated timing of filings relating to the transaction; the expected timing of the completion of the transaction; and any assumptions underlying any of the foregoing. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those currently anticipated due to a number of risks and uncertainties, including uncertainties as to the timing of the tender offer and business combination; uncertainties as to how many of FXall's stockholders will tender their stock in the offer; the possibility that competing offers will be made; the possibility that various closing conditions for the transaction may not be satisfied or waived, including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the transaction; the effects of disruption from the transaction making it more difficult to maintain relationships with employees
, customers, other business partners or governmental entities; other business effects, including the effects of industry, economic or political conditions outside of FXall's control; transaction costs; actual or contingent liabilities; and other risks and uncertainties discussed in documents filed with the SEC by FXall from time to time, as well as the tender offer documents filed by Thomson Reuters and the solicitation/recommendation statement filed by FXall. Investors and security holders are able to obtain free copies of the documents filed with the SEC by FXall on the Investor Relations section of FXall website at www.fxall.com. FXall does not undertake any obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as expressly required by law.
CONTACTS
Thomson Reuters
Alan Duerden
Frank J. Golden
PR Director, Thomson Reuters
SVP, Investor Relations, Thomson Reuters
D: +44 20 7542 0561
D: +1 646 223 5288
[email protected]
[email protected]
FXall
Dafina Grapci-Penney
Andrew Posen
D: +44 20 7324 5484
Head of Investor Relations, FXall
M: +44 7525335733
D: +1 646 268 9952
[email protected]
[email protected]
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"CONTACTS",
"Thomson",
"Reuters",
"Alan",
"Duerden",
"Frank",
"J",
".",
"Golden",
"PR",
"Director",
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"Thomson",
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"0561",
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"[email protected]",
"[email protected]",
"FXall",
"Dafina",
"Grapci",
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"Penney",
"Andrew",
"Posen",
"D",
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"7525335733",
"D",
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"[email protected]",
"[email protected]"
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
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"O",
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"O",
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"O",
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"O",
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"O",
"O",
"O",
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"O",
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"O",
"O",
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"O",
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"O",
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"O",
"O",
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"O",
"O",
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"O",
"O",
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"O",
"O",
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"O",
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"O",
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"O",
"O",
"O",
"O",
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1030916-000101968713000712-premier_8k-ex9901 | EX-99.1
3
premier_8k-ex9901.htm
PRESS RELEASE
Exhibit 99.1
Premier Holding Acquires Majority Stake
in The Power Company USA, LLC
TUSTIN, CA --
(Marketwire) -- 02/27/13 -- Today, Premier Holding Corporation (OTCQB:PRHL)
announces it has entered an agreement to purchase 80 percent of The Power Company USA, LLC, based in Chicago, Illinois. The Power
Company ("TPC") was formed in 2011 to participate in the sale of deregulated energy, primarily electricity and natural
gas, to businesses and residential users. More information on TPC can be found at http://thepowercompany.com/
PRHL's acquisition of 80 percent of TPC
for a combination of cash and securities will increase PRHL's capability to offer energy efficiency products and services to Fortune
500 brands, commercial middle-market companies, developers and management companies of large-scale residential developments.
TPC's business model capitalizes on the
deregulation of energy provided by the National Energy Policy Act of 1992 (NEPA 1992), and over the last two years, the principles
at TPC designed a proprietary computer model and system whereby commercial and residential clients can chose from numerous power
suppliers to garner the lowest rates and/or structured programs that best suit their needs. With this acquisition, once TPC has
reduced or stabilized the cost of power, the client is referred to E3 - Energy Efficiency Experts, another subsidiary of Premier,
which then focuses on offering these and other clients its vast array of green products and clean tech solutions that reduce power
consumption.
TPC's business has grown significantly
over a short period of time. In fact, in a few short months, since signing the LOI, TPC has acquired an additional 3,000 customers,
now totaling over 14,000 customers in just the 12 states it currently services. As deregulation expands to the remaining states
prior to 2020, TPC will be well-positioned to expand its client base with its best-of-breed internal systems and client offerings.
By acquiring a major stake in TPC, Premier
receives additional benefits in the form of tremendous marketing resources, an integrated platform for reaching clients with numerous
products and services, key personnel, and added revenue and assets. Currently, the revenue for 2013 is expected to be in excess
of $3,000,000, with current receivables exceeding $1,000,000 and contracts with over 14,000 customers representing assets estimated
to be valued from $6,000,000 to $10,000,000.
"The synergy and efficiencies created
by this agreement substantially accelerate the sales growth potential of PRHL", said Randall Letcavage, president and CEO
of PRHL. He continued, "Capturing a client with attractive power rates is a seamless introduction for our energy efficiency
team (E3 - Energy Efficiency Experts) to implement further energy savings to an already satisfied customer. This is a significant
step in our overall strategy to be "everything energy" to our clients".
The acquisition today represents 80 percent
of TPC stock, with the remaining 20 percent scheduled to be acquired within the next 120 days.
PRHL will provide additional details, including
the purchase agreement in a current report on Form 8-K to be filed with the SEC within 4 business days.
About Premier
Holding Corp. (PRHL)
The Company provides financial and management expertise, which includes access to capital, financing,
legal, insurance, mergers, acquisitions, joint ventures and management strategies. The Company's strategy is to acquire clean technology
companies and/or green products and services that are accretive and that can be seamlessly integrated and utilize the overall economics
of such products and services for the benefit of its customers. Through its various subsidiaries it offers energy efficiency products
and services to commercial middle-market companies, Fortune 500 brands, developers and management companies of large-scale residential
developments. For more information visit: www.prhlcorp.com.
About The
Power Company (TPC)
The Power Company USA, LLC is a professional energy services firm offering brokerage and consulting
services with a progressive and unique perspective on energy management based in Chicago, Illinois. Their mission is to assist
companies in reducing and managing their electricity expenses. Their diverse portfolio of energy providers, transparent pricing,
and unparalleled industry experience offers customers the freedom of exploring all of their options for choosing the best plan
and provider. Operating in all currently deregulated states, including Texas, New York and Illinois, TPC and its partners/suppliers
have provided an invaluable service to millions of clients. Their team has consulted and/or serviced such prominent companies,
organizations and governmental entities such as: The City of Dallas, Ralcorp, Choice Hotels, Apex Hospital Systems, Mercedes Dealerships,
Leona's Restaurant Group, McDonald's, and many others. Because of the large amount of business transacted and their long-standing
relationships with Regional Energy Suppliers, TPC is assured to provide the most competitive prices in the industry. For more information
visit:www.thepowercompany.com
About Energy
Efficiency Experts (E
3
)
E3 is an Energy Services Company (ESCO) formed by PRHL to provide the best of breed solutions to its
clients by utilizing proprietary technologies and high level industry relationships. By maintaining a "product agnostic"
approach, E3's experts will prescribe the best solution for the unique circumstances of its clients after careful survey and analysis.
Through its ever-growing acquisitions and alliances, E3 strives to provide the most current, and fully-vetted solutions in energy
generation and energy reduction technologies, as well as management tools which capture the client for future opportunities. Recent
acquisitions include Green Central and Active ES Lighting Controls. Strategic alliances include Orion Energy Systems, Muni-Fed
Energy, and Energy Innovation Enterprises. These alliances further advance E3's business strategy of providing only those technologies
that have proven themselves in the field in both technical sophistication/reliability and financial justification. For more information
visit: www.prhlcorp.com.
Premier Holding
Corp. Safe Harbor
This press release contains certain statements that may include "forward-looking statements"
as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the
use of forward-looking terminology such as "believes", "expects", "anticipate", "optimistic,"
"intend", "will" or other similar expressions. The Company's actual results could differ materially from those
anticipated in these forward- looking statements as a result of a variety of factors, including those discussed in the Company's
periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov.
All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety
by these factors. Other than as required under applicable securities laws, the Company does not assume a duty to update these forward-looking
statements.
Randall Letcavage-
Premier Holding Corp, Chairman & CEO further comments on The Power Company. Click here:Randall's
Comments
Source: Premier Holding Corporation
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"best",
"suit",
"their",
"needs",
".",
"With",
"this",
"acquisition",
",",
"once",
"TPC",
"has",
"reduced",
"or",
"stabilized",
"the",
"cost",
"of",
"power",
",",
"the",
"client",
"is",
"referred",
"to",
"E3",
"-",
"Energy",
"Efficiency",
"Experts",
",",
"another",
"subsidiary",
"of",
"Premier",
",",
"which",
"then",
"focuses",
"on",
"offering",
"these",
"and",
"other",
"clients",
"its",
"vast",
"array",
"of",
"green",
"products",
"and",
"clean",
"tech",
"solutions",
"that",
"reduce",
"power",
"consumption",
".",
"TPC",
"'s",
"business",
"has",
"grown",
"significantly",
"over",
"a",
"short",
"period",
"of",
"time",
".",
"In",
"fact",
",",
"in",
"a",
"few",
"short",
"months",
",",
"since",
"signing",
"the",
"LOI",
",",
"TPC",
"has",
"acquired",
"an",
"additional",
"3,000",
"customers",
",",
"now",
"totaling",
"over",
"14,000",
"customers",
"in",
"just",
"the",
"12",
"states",
"it",
"currently",
"services",
".",
"As",
"deregulation",
"expands",
"to",
"the",
"remaining",
"states",
"prior",
"to",
"2020",
",",
"TPC",
"will",
"be",
"well",
"-",
"positioned",
"to",
"expand",
"its",
"client",
"base",
"with",
"its",
"best",
"-",
"of",
"-",
"breed",
"internal",
"systems",
"and",
"client",
"offerings",
".",
"By",
"acquiring",
"a",
"major",
"stake",
"in",
"TPC",
",",
"Premier",
"receives",
"additional",
"benefits",
"in",
"the",
"form",
"of",
"tremendous",
"marketing",
"resources",
",",
"an",
"integrated",
"platform",
"for",
"reaching",
"clients",
"with",
"numerous",
"products",
"and",
"services",
",",
"key",
"personnel",
",",
"and",
"added",
"revenue",
"and",
"assets",
".",
"Currently",
",",
"the",
"revenue",
"for",
"2013",
"is",
"expected",
"to",
"be",
"in",
"excess",
"of",
"$",
"3,000,000",
",",
"with",
"current",
"receivables",
"exceeding",
"$",
"1,000,000",
"and",
"contracts",
"with",
"over",
"14,000",
"customers",
"representing",
"assets",
"estimated",
"to",
"be",
"valued",
"from",
"$",
"6,000,000",
"to",
"$",
"10,000,000",
".",
"\"",
"The",
"synergy",
"and",
"efficiencies",
"created",
"by",
"this",
"agreement",
"substantially",
"accelerate",
"the",
"sales",
"growth",
"potential",
"of",
"PRHL",
"\"",
",",
"said",
"Randall",
"Letcavage",
",",
"president",
"and",
"CEO",
"of",
"PRHL",
".",
"He",
"continued",
",",
"\"",
"Capturing",
"a",
"client",
"with",
"attractive",
"power",
"rates",
"is",
"a",
"seamless",
"introduction",
"for",
"our",
"energy",
"efficiency",
"team",
"(",
"E3",
"-",
"Energy",
"Efficiency",
"Experts",
")",
"to",
"implement",
"further",
"energy",
"savings",
"to",
"an",
"already",
"satisfied",
"customer",
".",
"This",
"is",
"a",
"significant",
"step",
"in",
"our",
"overall",
"strategy",
"to",
"be",
"\"",
"everything",
"energy",
"\"",
"to",
"our",
"clients",
"\"",
".",
"The",
"acquisition",
"today",
"represents",
"80",
"percent",
"of",
"TPC",
"stock",
",",
"with",
"the",
"remaining",
"20",
"percent",
"scheduled",
"to",
"be",
"acquired",
"within",
"the",
"next",
"120",
"days",
".",
"PRHL",
"will",
"provide",
"additional",
"details",
",",
"including",
"the",
"purchase",
"agreement",
"in",
"a",
"current",
"report",
"on",
"Form",
"8",
"-",
"K",
"to",
"be",
"filed",
"with",
"the",
"SEC",
"within",
"4",
"business",
"days",
".",
"About",
"Premier",
"Holding",
"Corp",
".",
"(",
"PRHL",
")",
"The",
"Company",
"provides",
"financial",
"and",
"management",
"expertise",
",",
"which",
"includes",
"access",
"to",
"capital",
",",
"financing",
",",
"legal",
",",
"insurance",
",",
"mergers",
",",
"acquisitions",
",",
"joint",
"ventures",
"and",
"management",
"strategies",
".",
"The",
"Company",
"'s",
"strategy",
"is",
"to",
"acquire",
"clean",
"technology",
"companies",
"and",
"/",
"or",
"green",
"products",
"and",
"services",
"that",
"are",
"accretive",
"and",
"that",
"can",
"be",
"seamlessly",
"integrated",
"and",
"utilize",
"the",
"overall",
"economics",
"of",
"such",
"products",
"and",
"services",
"for",
"the",
"benefit",
"of",
"its",
"customers",
".",
"Through",
"its",
"various",
"subsidiaries",
"it",
"offers",
"energy",
"efficiency",
"products",
"and",
"services",
"to",
"commercial",
"middle",
"-",
"market",
"companies",
",",
"Fortune",
"500",
"brands",
",",
"developers",
"and",
"management",
"companies",
"of",
"large",
"-",
"scale",
"residential",
"developments",
".",
"For",
"more",
"information",
"visit",
":",
"www.prhlcorp.com",
".",
"About",
"The",
"Power",
"Company",
"(",
"TPC",
")",
"The",
"Power",
"Company",
"USA",
",",
"LLC",
"is",
"a",
"professional",
"energy",
"services",
"firm",
"offering",
"brokerage",
"and",
"consulting",
"services",
"with",
"a",
"progressive",
"and",
"unique",
"perspective",
"on",
"energy",
"management",
"based",
"in",
"Chicago",
",",
"Illinois",
".",
"Their",
"mission",
"is",
"to",
"assist",
"companies",
"in",
"reducing",
"and",
"managing",
"their",
"electricity",
"expenses",
".",
"Their",
"diverse",
"portfolio",
"of",
"energy",
"providers",
",",
"transparent",
"pricing",
",",
"and",
"unparalleled",
"industry",
"experience",
"offers",
"customers",
"the",
"freedom",
"of",
"exploring",
"all",
"of",
"their",
"options",
"for",
"choosing",
"the",
"best",
"plan",
"and",
"provider",
".",
"Operating",
"in",
"all",
"currently",
"deregulated",
"states",
",",
"including",
"Texas",
",",
"New",
"York",
"and",
"Illinois",
",",
"TPC",
"and",
"its",
"partners",
"/",
"suppliers",
"have",
"provided",
"an",
"invaluable",
"service",
"to",
"millions",
"of",
"clients",
".",
"Their",
"team",
"has",
"consulted",
"and",
"/",
"or",
"serviced",
"such",
"prominent",
"companies",
",",
"organizations",
"and",
"governmental",
"entities",
"such",
"as",
":",
"The",
"City",
"of",
"Dallas",
",",
"Ralcorp",
",",
"Choice",
"Hotels",
",",
"Apex",
"Hospital",
"Systems",
",",
"Mercedes",
"Dealerships",
",",
"Leona",
"'s",
"Restaurant",
"Group",
",",
"McDonald",
"'",
"s",
",",
"and",
"many",
"others",
".",
"Because",
"of",
"the",
"large",
"amount",
"of",
"business",
"transacted",
"and",
"their",
"long",
"-",
"standing",
"relationships",
"with",
"Regional",
"Energy",
"Suppliers",
",",
"TPC",
"is",
"assured",
"to",
"provide",
"the",
"most",
"competitive",
"prices",
"in",
"the",
"industry",
".",
"For",
"more",
"information",
"visit",
":",
"www.thepowercompany.com",
"About",
"Energy",
"Efficiency",
"Experts",
"(",
"E",
"3",
")",
"E3",
"is",
"an",
"Energy",
"Services",
"Company",
"(",
"ESCO",
")",
"formed",
"by",
"PRHL",
"to",
"provide",
"the",
"best",
"of",
"breed",
"solutions",
"to",
"its",
"clients",
"by",
"utilizing",
"proprietary",
"technologies",
"and",
"high",
"level",
"industry",
"relationships",
".",
"By",
"maintaining",
"a",
"\"",
"product",
"agnostic",
"\"",
"approach",
",",
"E3",
"'s",
"experts",
"will",
"prescribe",
"the",
"best",
"solution",
"for",
"the",
"unique",
"circumstances",
"of",
"its",
"clients",
"after",
"careful",
"survey",
"and",
"analysis",
".",
"Through",
"its",
"ever",
"-",
"growing",
"acquisitions",
"and",
"alliances",
",",
"E3",
"strives",
"to",
"provide",
"the",
"most",
"current",
",",
"and",
"fully",
"-",
"vetted",
"solutions",
"in",
"energy",
"generation",
"and",
"energy",
"reduction",
"technologies",
",",
"as",
"well",
"as",
"management",
"tools",
"which",
"capture",
"the",
"client",
"for",
"future",
"opportunities",
".",
"Recent",
"acquisitions",
"include",
"Green",
"Central",
"and",
"Active",
"ES",
"Lighting",
"Controls",
".",
"Strategic",
"alliances",
"include",
"Orion",
"Energy",
"Systems",
",",
"Muni",
"-",
"Fed",
"Energy",
",",
"and",
"Energy",
"Innovation",
"Enterprises",
".",
"These",
"alliances",
"further",
"advance",
"E3",
"'s",
"business",
"strategy",
"of",
"providing",
"only",
"those",
"technologies",
"that",
"have",
"proven",
"themselves",
"in",
"the",
"field",
"in",
"both",
"technical",
"sophistication",
"/",
"reliability",
"and",
"financial",
"justification",
".",
"For",
"more",
"information",
"visit",
":",
"www.prhlcorp.com",
".",
"Premier",
"Holding",
"Corp",
".",
"Safe",
"Harbor",
"This",
"press",
"release",
"contains",
"certain",
"statements",
"that",
"may",
"include",
"\"",
"forward",
"-",
"looking",
"statements",
"\"",
"as",
"defined",
"in",
"the",
"Private",
"Securities",
"Litigation",
"Reform",
"Act",
"of",
"1995",
".",
"These",
"forward",
"-",
"looking",
"statements",
"are",
"often",
"identified",
"by",
"the",
"use",
"of",
"forward",
"-",
"looking",
"terminology",
"such",
"as",
"\"",
"believes",
"\"",
",",
"\"",
"expects",
"\"",
",",
"\"",
"anticipate",
"\"",
",",
"\"",
"optimistic",
",",
"\"",
"\"",
"intend",
"\"",
",",
"\"",
"will",
"\"",
"or",
"other",
"similar",
"expressions",
".",
"The",
"Company",
"'s",
"actual",
"results",
"could",
"differ",
"materially",
"from",
"those",
"anticipated",
"in",
"these",
"forward",
"-",
"looking",
"statements",
"as",
"a",
"result",
"of",
"a",
"variety",
"of",
"factors",
",",
"including",
"those",
"discussed",
"in",
"the",
"Company",
"'s",
"periodic",
"reports",
"that",
"are",
"filed",
"with",
"the",
"Securities",
"and",
"Exchange",
"Commission",
"and",
"available",
"on",
"its",
"website",
"at",
"http://www.sec.gov",
".",
"All",
"forward",
"-",
"looking",
"statements",
"attributable",
"to",
"the",
"Company",
"or",
"persons",
"acting",
"on",
"its",
"behalf",
"are",
"expressly",
"qualified",
"in",
"their",
"entirety",
"by",
"these",
"factors",
".",
"Other",
"than",
"as",
"required",
"under",
"applicable",
"securities",
"laws",
",",
"the",
"Company",
"does",
"not",
"assume",
"a",
"duty",
"to",
"update",
"these",
"forward",
"-",
"looking",
"statements",
".",
"Randall",
"Letcavage",
"-",
"Premier",
"Holding",
"Corp",
",",
"Chairman",
"&",
"CEO",
"further",
"comments",
"on",
"The",
"Power",
"Company",
".",
"Click",
"here",
":",
"Randall",
"'s",
"Comments",
"Source",
":",
"Premier",
"Holding",
"Corporation"
] | [
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"B-Parties.BUYING_COMPANY",
"I-Parties.BUYING_COMPANY",
"O",
"O",
"O",
"O",
"B-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"B-Parties.BUYING_COMPANY",
"I-Parties.BUYING_COMPANY",
"I-Parties.BUYING_COMPANY",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"B-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"B-Parties.BUYING_COMPANY",
"O",
"O",
"O",
"O",
"O",
"O",
"B-Parties.ACQUIRED_COMPANY",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"B-Parties.ACQUIRED_COMPANY",
"O",
"B-Parties.BUYING_COMPANY",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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1219601-000121960105000098-ex991oct05 | EX-99
3
ex991oct05.htm
EX -99.1 PRESS RELEASE - SALE OF BUSINESS
Exhibit 99.1 - Press Release for the Completion of the Plastic Closures Business Sale - October 2005
EXHIBIT 99.1
News Release
Corporate Headquarters
One Crown Way
Philadelphia, PA 19154-4599
CROWN COMPLETES SALE OF ITS
PLASTIC CLOSURES BUSINESS
Philadelphia, PA - October 12, 2005. --
Crown Holdings, Inc. (NYSE: CCK), today announced that it has completed the previously
announced sale of its Global Plastic Closures business to an affiliate of PAI partners, a
European private equity firm, for an aggregate purchase price of approximately US $750 million,
which includes the assumption of certain liabilities.
Net cash proceeds from the sale were
approximately US $690 million, which is subject to final working capital, net debt and
certain other adjustments. Crown expects to use the net proceeds of the sale for general
corporate purposes including the repayment of debt.
Cautionary Note Regarding
Forward-Looking Statements
Except for historical information, all other information in
this press release consists of forward-looking statements. These forward-looking
statements involve a number of risks, uncertainties and other factors that may cause
actual results to be materially different from those expressed or implied in the
forward-looking statements. Important factors that could cause the statements made in
this press release to differ include that the final purchase price and net cash proceeds
are subject to post-closing adjustment, and the use of net proceeds. Other important
factors are discussed under the caption "Forward-Looking Statements" in the Company's
Form 10-K Annual Report for the year ended December 31, 2004 and in subsequent filings
made prior to or after the date hereof. The Company does not intend to review or revise
any particular forward-looking statement in light of future events.
Crown Holdings, Inc., through its
affiliated companies, is a leading supplier of packaging products to consumer marketing
companies around the world. World headquarters are located in Philadelphia, Pennsylvania.
* * * end * * *
For more information, contact:
Timothy J. Donahue, Senior Vice President
- Finance, (215) 698-5088, or
Edward Bisno, Bisno Communications, (917) 881-5441.
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1280263-000119312521322486-d255618dex991 | EX-99.1
2
d255618dex991.htm
EX-99.1
EX-99.1
Exhibit 99.1
Ambarella Closes Acquisition of Oculii
Santa Clara, Calif. - November 8, 2021 -
Ambarella, Inc
. (NASDAQ: AMBA), an AI vision silicon company, today announced the completion of
its previously announced transaction to acquire Oculii Corp.
On October 26, 2021, Ambarella announced that Oculii and Ambarella had signed a
definitive merger agreement, pursuant to which Ambarella would acquire all outstanding capital stock of Oculii for $307.5 million. On November 5, 2021, pursuant to the terms of the merger agreement, Ohio Merger Sub, Inc. merged with and
into Oculii, and all outstanding capital stock of Oculii was cancelled and converted into the right to receive cash. As a result of the merger's completion, Oculii has become a wholly owned subsidiary of Ambarella. Oculii
co-founder
and CEO, Steven Hong, will serve as Ambarella's Vice President and General Manager, Radar Technology. Professor Lang Hong,
co-founder
and CTO, will become an
Ambarella Fellow.
Oculii's adaptive AI software algorithms are designed to enable radar perception using current production radar chips to achieve
significantly higher (up to 100X) resolution, longer range and greater accuracy. This acquisition expands Ambarella's addressable market into radar perception and fusion with its existing edge AI CV perception SoCs for automotive and other IoT
endpoint applications, including mobile robotics and security. The fusion of Ambarella's camera technology and Oculii's radar software stack will provide an
all-weather,
low-cost
and scalable perception solution, enabling higher levels of autonomy for automotive tier 1s and OEMs globally.
"We are excited to have closed this transaction quickly, and look forward to integrating our teams and technologies", said Fermi Wang,
President and CEO of Ambarella. "The two organizations have very similar cultures, and Ambarella is now one of the very few semiconductor companies to have advanced camera and radar technology development under one roof. This enables us to
provide the market with greater levels of perception than was previously attainable with discrete camera and radar solutions".
About Ambarella
Ambarella's products are used in a wide variety of human and computer vision applications, including video security, advanced driver assistance
systems (ADAS), electronic mirror, drive recorder, driver/cabin monitoring, autonomous driving and robotics applications. Ambarella's
low-power
systems on chip (SoCs) offer high-resolution video
compression, advanced image processing and powerful deep neural network processing to enable intelligent cameras to extract valuable data from high-resolution video streams. For more information, please visit
www.ambarella.com
"Safe harbor" statement under the Private Securities Litigation Reform Act of 1995
This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995, including Ambarella's addressable market, the potential benefits from fusion of Ambarella's camera technology and Oculii's radar software, and potential business synergies to be realized. Statements regarding
future events are based on the parties' current expectations and are necessarily subject to associated risks related to, among other things, regulatory approval of the acquisition of Oculii or that other conditions to the closing may not be
satisfied, the potential impact on the business of Oculii due to the announcement of the acquisition, the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement, technological
challenges related to combining Ambarella's camera technology and Oculii's radar software, and general economic conditions. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking
statements. For information regarding other related risks, see the "Risk Factors" section of Ambarella's Quarterly Report on Form
10-Q
for the quarterly period ended July 31, 2021. The
forward-looking statements included herein are made only as of the date hereof, and Ambarella undertakes no obligation to revise or update any forward-looking statements for any reason.
Ambarella Contacts
.
Media contact: Eric Lawson,
[email protected]
, (480)
276-9572
.
Investor contact: Louis Gerhardy,
[email protected]
, (408)
636-2310
.
Sales contact:
www.ambarella.com/about/contact/inquiries
All brand names, product names, or trademarks belong to their respective holders. Ambarella reserves the right to alter product and service
offerings, specifications, and pricing at any time without notice.
©
2021 Ambarella. All rights reserved.
# # #
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789132-000078913214000109-ex99pressreleaseasclosing | EX-99.1
2
ex99pressreleaseasclosing.htm
PRESS RELEASE
Ex 99 Press Release AS Closing
Exhibit 99.1
COMPANY CONTACT
INVESTOR CONTACT
The Spectranetics Corporation
Westwicke Partners
Guy Childs, Chief Financial Officer
Lynn Pieper
(719) 633-8333
(415) 202-5678
[email protected]
FOR IMMEDIATE RELEASE
Spectranetics Completes Acquisition of AngioScore Inc.
Acquisition Expands Available Market Opportunity
Differentiated, complementary product lines combine to provide multiple solutions
for the most complex cardiovascular challenges
COLORADO SPRINGS, COLO. (June 30, 2014) - The Spectranetics Corporation (NASDAQ: SPNC) today announced that it has completed the acquisition of AngioScore Inc., a leading developer, manufacturer and marketer of cardiovascular, specialty balloons, for $230 million in cash, along with additional contingent commercial and regulatory milestone payments.
"We are very excited to complete this important transaction", said Scott Drake, President and CEO of Spectranetics. "AngioScore meets our criteria with an exceptional strategic fit, leverageable call points, differentiated technology and clear operating efficiencies. With AngioScore now a part of our company, we have a meaningfully expanded market opportunity and a compelling product portfolio".
AngioScore, based in Fremont, Calif., develops and markets the AngioSculpt scoring balloon technology platform, which is a differentiated, comprehensive portfolio to treat blockages in the coronary and peripheral vasculature. AngioScore's product and distribution platforms diversify Spectranetics' portfolio while expanding physicians' options to treat critical limb ischemia (CLI), in-stent restenosis (ISR), calcified lesions and chronic total occlusions (CTO).
About Spectranetics
Spectranetics develops, manufactures, markets and distributes single-use medical devices used in minimally invasive procedures within the cardiovascular system. The Company's products are sold in over 40 countries and are used to treat arterial blockages in the heart and legs, and the removal of pacemaker and defibrillator leads.
The Company's Vascular Intervention (VI) products include a range of laser catheters for ablation of blockages in arteries above and below the knee. The Company also markets support catheters to facilitate crossing of peripheral and coronary arterial blockages, and retrograde access and guidewire retrieval devices used in the treatment of peripheral arterial blockages, including chronic total occlusions. The Company markets aspiration and cardiac laser catheters to treat blockages in the heart.
The Lead Management (LM) product line includes excimer laser sheaths, dilator sheaths, mechanical sheaths and accessories for the removal of pacemaker and defibrillator cardiac leads.
For more information, visit www.spectranetics.com.
Safe Harbor Statement
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. You can identify these statements because they do not relate strictly to historical or current facts. Such statements may include words such as "anticipate", "will", "estimate", "expect", "look forward", "strive", "project", "intend", "should", "plan", "believe", "hope", "enable", "potential", and other words and terms of similar meaning in connection with any discussion of, among other things, the AngioScore acquisition, receipt of FDA approvals, future operating or financial performance, strategic initiatives and business strategies, clinical trials, regulatory or competitive environments, our intellectual property and product development. Such statements are based on current assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. You should not place undue reliance on these forward-looking statements and note they speak only as of the date of this release. These risks and uncertainties may include financial results differing from guidance, inability to successfully integrate AngioScore into our business, market acceptance of excimer laser atherectomy technology and our vascular intervention and lead removal products, increasing price and product competition, increased pressure on expense levels resulting from expanded sales, marketing, product development and clinical activities, uncertain success of our strategic direction, dependence on new product development, loss of key personnel, uncertain success of or delays in our clinical trials, adverse results in any ongoing legal proceeding, or any legal proceeding in which we may become involved, adverse impact to our business of the health care reform and related legislation or regulations, including changes in reimbursements, continued or worsening adverse conditions in the general domestic and global economic markets and continued volatility and disruption of the credit markets, which affects the ability of hospitals and other health care systems to obtain credit and may impede our access to capital, intellectual property claims of third parties, availability of inventory from suppliers, adverse outcome of FDA inspections, the receipt of FDA approval to market new products or applications and the timeliness of any approvals, market acceptance of new products or applications, product defects, ability to manufacture sufficient volumes to fulfill customer demand, availability of vendor-sourced components at reasonable prices, unexpected delays or costs associated with any planned improvements to our manufacturing processes, and share price volatility due to the initiation or cessation of coverage, or changes in ratings, by securities analysts. For a further list and description of such risks and uncertainties that could cause our actual results, performance or achievements to materially differ from any anticipated results, performance or achievements, please see our previously filed SEC reports, including those risks set forth in our most recent Annual Report on Form 10-K. We disclaim any intention or obligation to update or revise any financial or other projections or other forward-looking statements, whether because of new information, future events or otherwise.
| [
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1487990-000110465914066532-a14-20946_1ex99d1 | EX-99.1
4
a14-20946_1ex99d1.htm
EX-99.1
Exhibit 99.1
News Release
15 September 2014
Cobham Offer for Aeroflex Holding Corp. ("Aeroflex") Successfully Completed
WIMBORNE, UNITED KINGDOM - Cobham plc ("Cobham") announces that its acquisition of Aeroflex Holding Corp. ("Aeroflex"), previously announced on 20 May 2014, has been successfully completed following the receipt of regulatory and shareholder approvals. The transaction has an enterprise value of approximately US$1,460m.
Cobham Chief Executive Officer Bob Murphy said: "We are pleased to welcome Aeroflex into the Cobham family of businesses. The combination of our technology companies is absolutely aligned with our strategic objective of building and maintaining leading positions in selected higher growth, commercially oriented end markets that increasingly demand more data, connectivity and bandwidth".
Approximately 70% of Aeroflex's revenue is focused on commercial markets with exposure to wireless, space, microelectronics, industrial, energy and other sectors. This will increase the proportion of Cobham's commercial revenue from 35 percent to some 42 percent of the total, on a pro forma basis, and builds on Cobham's focus on connectivity capabilities, customers and characteristics.
Aeroflex operations will be integrated into Cobham's Advanced Electronic Solutions and Communications and Connectivity sectors. The scale and complementary nature of this transaction is expected to enable Cobham to unlock significant synergy benefits, generating increased shareholder value, while supporting customers even more effectively.
About Cobham
Cobham protects lives and livelihoods with its differentiated technology and know-how, operating with a deep insight into customer needs and agility. The Group offers an innovative range of technologies and services to solve challenging problems in harsh environments across commercial, defence and security markets, from deep space to the
depths of the ocean, specialising in meeting the growing demand for data, connectivity and bandwidth.
Employing more than 12,000 people on five continents, the Group has customers and partners in over 100 countries, with market leading positions in: audio, video and data communications, including satellite communications; defence electronics; air-to-air refuelling; aviation services; life support and mission equipment.
- ends -
Media Relations
Investor Relations
Greg Caires
Julian Wais
+1 703 414 5310
+44 (0) 1202 857 998
[email protected]
[email protected]
Brunswick Group
Michael Harrison/Tom Williams
+44 (0) 207 404 5959
[email protected]
Ref: #514
www.cobham.com
Cobham plc, Brook Road, Wimborne, Dorset, BH21 2BJ, UK.
Twitter.com/cobham_plc
Registered in England & Wales: Number 30470
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1328670-000146929911000225-crwgex991 | EX-99.1
15
crwgex991.htm
PRESS RELEASE DATED APRIL 18, 2011
crwgex991.htm
Exhibit 99.1
CROWDGATHER, INC. ADDS FREE FORUM PIONEER FORUMER.COM
TO ITS OFFERINGS
Monthly traffic up 50% since beginning of 2011; Company sites generate in excess of 135 million monthly pageviews and 13 million monthly unique visitors
Woodland Hills, CA. April 18, 2011
--- One of the leading networks of forum communities on the Internet, CrowdGather (OTCBB:CRWG), today announced that it has acquired the assets of free forum hosting pioneer,
Forumer.com
. Forumer, which serves 35 million monthly pageviews across 200,000 active forums, joins CrowdGather's existing free forum hosting platforms
FreeForums.org
and
Lefora.com
in providing a wide range of alternatives to individuals seeking to build communities online. With this purchase, CrowdGather's network traffic has increased 50% this year to 135 million monthly pageviews and 13 million monthly unique visitors. This is up from 100 million monthly pageviews just prior to the transaction and 90 million monthly pageviews at the beginning of calendar 2007.
"In operation since 2003, Forumer has had a long history as a destination for forum builders", said Sanjay Sabnani, CrowdGather's Chairman and CEO. "We are excited to welcome them to the CrowdGather family. Consolidation is taking place at a rapid place on the Internet and forums are no different. We believe that we are building a strong foundation, one which will allow us to become the Company of choice when a forum owner decides to ultimately sell his or her community".
About CrowdGather, Inc.
With its growing portfolio of special interest forums and enthusiast message board communities, CrowdGather (
www.crowdgather.com
) has created a centralized network to benefit forum members, forum owners and forum advertisers. CrowdGather provides a highly interactive and informational social network for members, a management and revenue-sharing resource for third-party forum owners, and a largely untapped advertising network for marketers worldwide.
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth and business strategy. Words such as "expects", "will", "intends", "plans", "believes", "anticipates", "hopes", "estimates", and variations on such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in the Company's business; competitive factors in the market(s) in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
###
For additional information, please contact:
Investor Contact:
Sanjay Sabnani
Phone: 818-435-2472 x 101
Email: [email protected]
Media Contact:
Stacy Dimakakos
Phone: 917-981-5501
Email: [email protected]
| [
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"concerning",
"future",
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"such",
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"\"",
",",
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"will",
"\"",
",",
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"intends",
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1476204-000147620413000043-8KRegencyPressReleaseEx991 | EX-99.1
2
8KRegencyPressReleaseEx991.htm
EX-99.1
CONTACTS
From:
Tony DeFazio
For:
Jennifer Weingartner
Director
of Investor Relations
Diccicco
Battista Communications
Phillips
Edison - ARC Shopping Center REIT Inc.
[email protected]
[email protected]
Ph:
(484) 342-3600
Ph:
(513) 619-5058
FOR
IMMEDIATE RELEASE
Phillips Edison-ARC Shopping
Center REIT Inc. Acquires Three Property Portfolio
CINCINNATI,
OH, March 25, 2013
-
Phillips
Edison-ARC Shopping Center REIT
Inc. ("the Company") today announced that it has
acquired a portfolio of 3 grocery-anchored shopping centers. The portfolio is
anchored by 2 Publix grocery stores and 1 H-E-B grocery store. These
acquisitions include the first H-E-B grocery store in the Company's portfolio
and the first shopping center located in Texas. These acquisitions bring the
Company's total portfolio to 37 properties with 14 leading grocers, in 16
states, with an aggregate purchase price of approximately $467.6 million.
The Company is a public non-traded REIT focused on the acquisition
and management of well-occupied grocery-anchored neighborhood shopping centers
throughout the United States.
Kleinwood Center is a 148,963 square foot shopping center located
in Spring, Texas, approximately 25 miles north of Houston. The shopping center
is anchored by an H-E-B grocery store and is approximately 92.0 percent
occupied. H-E-B grocery store is the No. 2 traditional grocer in the Houston
area by market share and is on a long-term lease through October 2023.
Murray Landing is a 64,359 square foot shopping center located in
Irmo, South Carolina, approximately 12 miles northeast of Columbia, South
Carolina. The shopping center is anchored by a Publix grocery store and is 100
percent occupied. Publix is on a long-term lease through October 2023. When
combined with the Publix grocery store lease, 82 percent of the rents come from
national tenants.
Vineyard Center is 62,821 square feet and located in Tallahassee,
Florida. The shopping center is anchored by Publix, which is on a long term
lease through November 2022. Publix is the No. 1 traditional grocer by market
share in the Tallahassee area. When combined with the Publix grocery store
lease, 84 percent of the rents come from national tenants.
About Phillips Edison - ARC Shopping Center REIT Inc.
Phillips Edison-ARC Shopping Center REIT Inc. is a public
non-traded REIT that seeks to acquire and manage well-occupied grocery-anchored
neighborhood shopping centers having a mix of national and regional retailers
selling necessity-based goods and services, in strong demographic markets
throughout the United States. The REIT is co-sponsored by two industry
leaders: Phillips Edison & Company, who has acquired over $1.8 billion in
shopping centers throughout the United States, and AR Capital, LLC, a real
estate investment program sponsor dedicated to governance best practices. As
of March 25, 2012, Phillips Edison-ARC owned, directly or indirectly through a
joint venture in which it has a controlling interest, and managed an
institutional quality retail portfolio consisting of 37 grocery-anchored
shopping centers totaling 3,700,941 square feet. For more information on the
company, please visit the website at
www.phillipsedison-arc.com
.
###
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1170816-000114420407063701-v095332_ex99-1 | EX-99.1
4
v095332_ex99-1.htm
Unassociated Document
For
Immediate Release
Contacts:
Joe
Stapley
Sharon
Kraun
EAU
Technologies
Cohn,
Overstreet & Parrish
678.384.3716
404.961.2242
EAU
Technologies Refines Strategic Focus: Announces Divestiture of Bottled Water,
Consumer Division
ATLANTA,
Ga. (Nov. 21, 2007) - EAU Technologies, Inc. ("EAU" or "Company") (EAUI:OTCBB),
a
provider of electrolyzed oxidative water promoting "Green Technology" for high
volume applications including food processing, agriculture, dairy and
environmental remediation, today announced that it has completed the sale
of its
consumer Perfect Empowered Water division to a new entity, Perfect Water
&
Essentials LLC (PWE) for total consideration of $2.5 million and extended
royalties on future product sales. PWE will immediately assume operations
of the
division, located in Lindon, Utah.
"The
divesture of our consumer products division is a key component in the strategy
we have adopted to focus on driving core technologies within the high volume
business to business marketplace", said Wade Bradley, President and CEO of EAU
Technologies. "The technology licensing aspect of this agreement also fits
perfectly with our strategy to expand the use of high volume electrolyzed
water
solutions through strong vertical industry partners such as PWE. This reinforces
our strategic vision and strengthens our positioning. It is a win-win for
all
parties."
"We
are
pleased to have the closing behind us and look forward to the opportunities
before us", said Greg Mortensen, CEO of PWE. "The management team of Perfect
Water and Essentials have extensive backgrounds in the beverage and consumer
marketplace, and we are confident that the market is ready for the unique
benefits of our Perfect Essentials products".
Additional
information about the sale can be found in the Company's Form 8-K to be filed on
this date.
About
EAU:
EAU
Technologies, Inc. (EAU) is a supplier of Electrolyzed Oxidative Water
Technology (EOW Technology marketed as Empowered
Water™)
and
other complementary technologies with applications in diverse industries.
EAU's
water-based and non-toxic (at application concentration, the solutions are
non-toxic to humans and live animals). EOW Technology may replace many of
the
traditional methods now used to clean, disinfect and nourish in large industries
such as agriculture and food processing. EAU has solutions for existing
bacteria, virus and mold proliferation threats. EAU continues to add innovative
and efficacious products that offer a systemic approach to pathogen elimination
in food processing plants and related industries, thereby producing safer
foods
while protecting the environment through "Green Technology." EAU uses terms
like "green", "natural", "non-toxic" and "organic" based on our NAMSA studies
that show no toxicity or cytotoxicity at levels as high as 70 ppm of HOCl.
EAU
uses only water, food grade electrolytes and electricity to create all of
its
solutions. The active ingredients in the solutions EAU creates through
electrolysis are GRAS (generally regarded as safe) approved. Please visit
our
website and sign up to be emailed our press releases and public announcements.
www.eau-x.com
"Safe
Harbor" Statement under the Private Securities Litigation Reform Act of
1995
Statements
in this press release relating to plans, strategies, economic performance
and
trends, projections of results of specific activities or investments, and
other
statements that are not descriptions of historical facts may be forward-looking
statements within the meaning of the Private Securities Litigation Reform
Act of
1995, Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Such forward-looking statements may include
without limitation, our expectations about the growth and the potential for
the
company, and Mr. Bradley's abilities to lead the company in that growth.
Forward-looking information is inherently subject to risks and uncertainties,
and actual results could differ materially from those currently anticipated
due
to a number of factors, which include, but are not limited to, risk associated
with successfully developing our business in evolving markets, our need for
additional capital, our continuing operating losses, the ability of our
management to conduct distribution activities and sell products, possible
failure to successfully develop new products, vulnerability to competitors
due
to lack of patents on our products, and other risk factors listed in our
annual
report on Form 10-KSB for the year ended December 31, 2005 and our other
SEC
reports.. Forward-looking statements may be identified by terms such as
"may", "will", "should", "could", "expects", "plans", "intends,"
"anticipates", "believes", "estimates", "predicts", "forecasts,"
"potential", or "continue", or similar terms or the negative of these
terms.
Although we believe that the expectations reflected in the forward-looking
statements are reasonable, we cannot guarantee future results, levels of
activity, performance or achievements. The company has no obligation to update
these forward-looking statements.
#
#
#
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71391-000094583605000002-ex991-form8k010305 | EX-99.1
2
ex991-form8k010305.txt
EX-99.1
Press Release Source: Orbit E-Commerce Inc.
Orbit E-Commerce Inc. Closes on Acquisition of the IPTV
Video Internet Business of PureNet.TV Canada Inc.
Monday January 3, 7:00 am ET
TORONTO, Jan. 3 /PRNewswire-FirstCall/ -- Orbit E-Commerce
Inc. (OTC Bulletin Board: OECI - News) announced today it
has closed on its acquisition of the IPTV business of
PureNet.TV Canada Inc. as previously announced on December
29, 2004.
According to the Agreement, Orbit E-Commerce has acquired
all of the assets of PureNet.TV Canada Inc. and strategic
partnerships with equipment, software and content suppliers
in exchange for 15 million restricted voting common shares.
"This closing is another example of how Orbit E-Commerce
Inc. is executing on its growth plan and building
shareholder value", said Douglas C. Lloyd, President and CEO
of Orbit E-Commerce Inc. "The acquisition of the IPTV
business and strategic partnerships of PureNet.TV Canada
Inc. is an important milestone for Orbit E-Commerce Inc. and
places the Company at the forefront in being able to offer
consumers highly competitive video and related services".
About OECI
Orbit E-Commerce Inc. was established in 2000 for the
purpose of capitalizing on management's vision and expertise
in the field of Internet-based communications systems,
products, and services. The acquisition of PureNet.TV Canada
Inc. will allow OECI to extend its communications vision and
expertise into the market for IPTV video/internet services
which is poised to experience rapid growth.
About PureNet.TV Canada Inc.
A private company, incorporated in the Province of Ontario,
Canada, PureNet, is a privately funded company formed to
research and develop a highly competitive IPTV technology
and services and establish relationships with video content
providers and equipment suppliers.
Forward Looking Statements contained in this press release
that are not based upon current or historical fact are
forward-looking in nature. Such forward-looking statements
reflect the current views of management with respect to
future events and are subject to certain risks,
uncertainties and assumptions included potential issues
relating to interoperability, inability to introduce new
products, changes in market conditions, government
regulations, technological changes and other factors. Should
one or more of these risks or uncertainties materialize or
should underlying assumptions prove incorrect, actual
results may vary materially from those described herein.
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1549922-000154992215000034-smlp-ex991xpressrelease | EX-99.1
2
smlp-ex991xpressrelease.htm
EX 99.1 DROP DOWN ANNOUNCEMENT
SMLP-Ex 99.1-Press Release
Summit Midstream Partners, LP
1790 Hughes Landing Blvd, Suite 500
The Woodlands, TX 77380
Summit Midstream Partners, LP Announces Simultaneous Closing of $255.0 Million
Polar & Divide Drop Down and $35.0 Million Stampede Lateral Option
The Woodlands, Texas (May 18, 2015) - Summit Midstream Partners, LP (NYSE: SMLP) announced today that its wholly owned subsidiary, Bison Midstream, LLC ("Bison Midstream"), has closed its previously announced acquisition of 100% of the equity interests of certain subsidiaries of Summit Midstream Partners, LLC ("Summit Investments") for total cash consideration of $255.0 million, subject to customary purchase price adjustments (the "Acquisition"). The Acquisition includes certain crude oil and produced water gathering systems and transmission pipelines located in the Williston Basin (the "Polar & Divide system").
Based on the achievement of certain development milestones since announcing the Acquisition on May 6, 2015, SMLP also announced today that it has exercised an option to acquire a crude oil transmission project currently under development in the Williston Basin (the "Stampede Lateral") from a subsidiary of Summit Investments for an additional $35.0 million.
The $290.0 million total acquisition was financed with (i) the net proceeds from a primary equity offering of 6.5 million common units that closed on May 13, 2015 and (ii) a draw of under SMLP's $700.0 million revolving credit facility. The transaction closed on May 18, 2015.
The terms of the Acquisition and exercise of the Stampede Lateral option were approved by the board of directors of SMLP's general partner and by the board of directors' conflicts committee, which consists entirely of independent directors. The conflicts committee engaged Evercore Partners to act as its independent financial advisor and to render a fairness opinion, and Akin Gump Strauss Hauer & Feld, LLP to act as its legal advisor.
Because of the common control aspects in a drop down transaction, the Acquisition has been deemed a transaction between entities under common control and, as such, will be accounted for on an "as if pooled" basis for all periods in which common control existed. As such, SMLP's financial results will retrospectively include the financial results attributable to the Polar & Divide system for all periods beginning after February 15, 2013.
Overview of the Polar & Divide System
The Polar & Divide system includes more than 295 miles of crude oil and produced water pipelines, spanning throughout the central and western parts of Williams and Divide counties in North Dakota, from the Missouri River to the Canadian border. The Polar & Divide system is underpinned by long-term, fee-based gathering agreements with multiple producers, including anchor customers, Whiting Petroleum Corp. and SM Energy Company. Several of these gathering agreements include rate redetermination mechanisms which effectively serve to protect future cash flows by resetting the gathering rate upward in the future in the event that the customer does not attain certain minimum production thresholds.
The Polar & Divide system began operating in May 2013 and currently has a maximum aggregate throughput capacity of 80,000 barrels per day ("bbls/d") of crude oil and produced water. In the first quarter of 2015, the Polar & Divide system gathered over 48,000 bbls/d of crude oil and produced water from pad sites, central receipt points, and truck unloading stations, an increase from approximately 33,500 bbls/d for the year ended December 31, 2014. Crude oil is currently delivered to the COLT Hub in Epping, North Dakota and produced water is delivered to producer-owned and third-party injection wells located throughout the Williston Basin. Two development projects are currently underway to provide customers of the Polar & Divide system with additional delivery points for crude oil, including (i) an interconnect with Enbridge's North Dakota Pipeline System, and (ii) the Stampede Lateral, which will interconnect with Global Partners LP's ("Global") Basin Columbus rail terminal near Columbus, North Dakota.
The Stampede Lateral is a greenfield development project which includes the construction of a 46-mile, 10-inch diameter crude oil transmission pipeline with throughput capacity of 50,000 bbls/d to Global's Basin Columbus rail terminal. The Stampede Lateral is underpinned by a long-term contract with Global, including minimum volume commitments, and is expected to be placed into service in the fourth quarter of 2015.
EX 99.1-1
Based on 2016 projected EBITDA from Polar & Divide and the Stampede Lateral, the $290.0 million total acquisition, coupled with approximately $75 million of growth capital expenditures through the fourth quarter of 2016, is being acquired at a 7.8x acquisition multiple.
About Summit Midstream Partners, LP
SMLP is a growth-oriented limited partnership focused on developing, owning and operating midstream energy infrastructure assets that are strategically located in the core producing areas of unconventional resource basins, primarily shale formations, in North America. SMLP currently provides natural gas gathering, treating and processing services pursuant to primarily long-term and fee-based natural gas gathering and processing agreements with customers and counterparties in four unconventional resource basins: (i) the Appalachian Basin, which includes the Marcellus Shale formation in northern West Virginia; (ii) the Williston Basin, which includes the Bakken and Three Forks shale formations in northwestern North Dakota; (iii) the Fort Worth Basin, which includes the Barnett Shale formation in north-central Texas; and (iv) the Piceance Basin, which includes the Mesaverde formation as well as the Mancos and Niobrara shale formations in western Colorado and eastern Utah. SMLP owns and operates more than 2,600 miles of pipeline and over 250,000 horsepower of compression. SMLP is headquartered in The Woodlands, Texas with regional corporate offices in Denver, Colorado and Atlanta, Georgia.
About Summit Midstream Partners, LLC
Summit Midstream Partners, LLC ("Summit Investments") indirectly owns a 44.5% limited partner interest in SMLP and indirectly owns and controls the general partner of SMLP, Summit Midstream GP, LLC, which has sole responsibility for conducting the business and managing the operations of SMLP. Summit Investments owns, operates and is developing various crude oil, natural gas, and water-related midstream energy infrastructure assets in the Bakken Shale in North Dakota, the DJ Niobrara Shale in Colorado, and the Utica Shale in Ohio. Summit Investments also owns a 40% interest in a joint venture that is developing natural gas gathering and condensate stabilization infrastructure in the Utica Shale in southeastern Ohio. Summit Investments is a privately held company controlled by Energy Capital Partners II, LLC, and certain of its affiliates.
Forward-Looking Statements
This press release includes certain statements concerning expectations for the future that are forward-looking within the meaning of the federal securities laws. Forward-looking statements contain known and unknown risks and uncertainties (many of which are difficult to predict and beyond management's control) that may cause SMLP's actual results in future periods to differ materially from anticipated or projected results. An extensive list of specific material risks and uncertainties affecting SMLP is contained in its 2014 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 2, 2015 and as amended and updated from time to time. Any forward-looking statements in this press release are made as of the date of this press release and SMLP undertakes no obligation to update or revise any forward-looking statements to reflect new information or events.
Contact: Marc Stratton, Senior Vice President and Treasurer, 832-608-6166, [email protected]
SOURCE: Summit Midstream Partners, LP
EX 99.1-2
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"as",
"its",
"legal",
"advisor",
".",
"Because",
"of",
"the",
"common",
"control",
"aspects",
"in",
"a",
"drop",
"down",
"transaction",
",",
"the",
"Acquisition",
"has",
"been",
"deemed",
"a",
"transaction",
"between",
"entities",
"under",
"common",
"control",
"and",
",",
"as",
"such",
",",
"will",
"be",
"accounted",
"for",
"on",
"an",
"\"",
"as",
"if",
"pooled",
"\"",
"basis",
"for",
"all",
"periods",
"in",
"which",
"common",
"control",
"existed",
".",
"As",
"such",
",",
"SMLP",
"'s",
"financial",
"results",
"will",
"retrospectively",
"include",
"the",
"financial",
"results",
"attributable",
"to",
"the",
"Polar",
"&",
"Divide",
"system",
"for",
"all",
"periods",
"beginning",
"after",
"February",
"15",
",",
"2013",
".",
"Overview",
"of",
"the",
"Polar",
"&",
"Divide",
"System",
"The",
"Polar",
"&",
"Divide",
"system",
"includes",
"more",
"than",
"295",
"miles",
"of",
"crude",
"oil",
"and",
"produced",
"water",
"pipelines",
",",
"spanning",
"throughout",
"the",
"central",
"and",
"western",
"parts",
"of",
"Williams",
"and",
"Divide",
"counties",
"in",
"North",
"Dakota",
",",
"from",
"the",
"Missouri",
"River",
"to",
"the",
"Canadian",
"border",
".",
"The",
"Polar",
"&",
"Divide",
"system",
"is",
"underpinned",
"by",
"long",
"-",
"term",
",",
"fee",
"-",
"based",
"gathering",
"agreements",
"with",
"multiple",
"producers",
",",
"including",
"anchor",
"customers",
",",
"Whiting",
"Petroleum",
"Corp",
".",
"and",
"SM",
"Energy",
"Company",
".",
"Several",
"of",
"these",
"gathering",
"agreements",
"include",
"rate",
"redetermination",
"mechanisms",
"which",
"effectively",
"serve",
"to",
"protect",
"future",
"cash",
"flows",
"by",
"resetting",
"the",
"gathering",
"rate",
"upward",
"in",
"the",
"future",
"in",
"the",
"event",
"that",
"the",
"customer",
"does",
"not",
"attain",
"certain",
"minimum",
"production",
"thresholds",
".",
"The",
"Polar",
"&",
"Divide",
"system",
"began",
"operating",
"in",
"May",
"2013",
"and",
"currently",
"has",
"a",
"maximum",
"aggregate",
"throughput",
"capacity",
"of",
"80,000",
"barrels per day",
"(",
"\"",
"bbls",
"/",
"d",
"\"",
")",
"of",
"crude",
"oil",
"and",
"produced",
"water",
".",
"In",
"the",
"first",
"quarter",
"of",
"2015",
",",
"the",
"Polar",
"&",
"Divide",
"system",
"gathered",
"over",
"48,000",
"bbls",
"/",
"d",
"of",
"crude",
"oil",
"and",
"produced",
"water",
"from",
"pad",
"sites",
",",
"central",
"receipt",
"points",
",",
"and",
"truck",
"unloading",
"stations",
",",
"an",
"increase",
"from",
"approximately",
"33,500",
"bbls",
"/",
"d",
"for",
"the",
"year",
"ended",
"December",
"31",
",",
"2014",
".",
"Crude",
"oil",
"is",
"currently",
"delivered",
"to",
"the",
"COLT",
"Hub",
"in",
"Epping",
",",
"North",
"Dakota",
"and",
"produced",
"water",
"is",
"delivered",
"to",
"producer",
"-",
"owned",
"and",
"third",
"-",
"party",
"injection",
"wells",
"located",
"throughout",
"the",
"Williston",
"Basin",
".",
"Two",
"development",
"projects",
"are",
"currently",
"underway",
"to",
"provide",
"customers",
"of",
"the",
"Polar",
"&",
"Divide",
"system",
"with",
"additional",
"delivery",
"points",
"for",
"crude",
"oil",
",",
"including",
"(",
"i",
")",
"an",
"interconnect",
"with",
"Enbridge",
"'s",
"North",
"Dakota",
"Pipeline",
"System",
",",
"and",
"(",
"ii",
")",
"the",
"Stampede",
"Lateral",
",",
"which",
"will",
"interconnect",
"with",
"Global",
"Partners",
"LP",
"'s",
"(",
"\"",
"Global",
"\"",
")",
"Basin",
"Columbus",
"rail",
"terminal",
"near",
"Columbus",
",",
"North",
"Dakota",
".",
"The",
"Stampede",
"Lateral",
"is",
"a",
"greenfield",
"development",
"project",
"which",
"includes",
"the",
"construction",
"of",
"a",
"46",
"-",
"mile",
",",
"10",
"-",
"inch",
"diameter",
"crude",
"oil",
"transmission",
"pipeline",
"with",
"throughput",
"capacity",
"of",
"50,000",
"bbls",
"/",
"d",
"to",
"Global",
"'s",
"Basin",
"Columbus",
"rail",
"terminal",
".",
"The",
"Stampede",
"Lateral",
"is",
"underpinned",
"by",
"a",
"long",
"-",
"term",
"contract",
"with",
"Global",
",",
"including",
"minimum",
"volume",
"commitments",
",",
"and",
"is",
"expected",
"to",
"be",
"placed",
"into",
"service",
"in",
"the",
"fourth",
"quarter",
"of",
"2015",
".",
"EX",
"99",
".",
"1",
"-",
"1",
"Based",
"on",
"2016",
"projected",
"EBITDA",
"from",
"Polar",
"&",
"Divide",
"and",
"the",
"Stampede",
"Lateral",
",",
"the",
"$",
"290.0 million",
"total",
"acquisition",
",",
"coupled",
"with",
"approximately",
"$",
"75 million",
"of",
"growth",
"capital",
"expenditures",
"through",
"the",
"fourth",
"quarter",
"of",
"2016",
",",
"is",
"being",
"acquired",
"at",
"a",
"7",
".",
"8x",
"acquisition",
"multiple",
".",
"About",
"Summit",
"Midstream",
"Partners",
",",
"LP",
"SMLP",
"is",
"a",
"growth",
"-",
"oriented",
"limited",
"partnership",
"focused",
"on",
"developing",
",",
"owning",
"and",
"operating",
"midstream",
"energy",
"infrastructure",
"assets",
"that",
"are",
"strategically",
"located",
"in",
"the",
"core",
"producing",
"areas",
"of",
"unconventional",
"resource",
"basins",
",",
"primarily",
"shale",
"formations",
",",
"in",
"North",
"America",
".",
"SMLP",
"currently",
"provides",
"natural",
"gas",
"gathering",
",",
"treating",
"and",
"processing",
"services",
"pursuant",
"to",
"primarily",
"long",
"-",
"term",
"and",
"fee",
"-",
"based",
"natural",
"gas",
"gathering",
"and",
"processing",
"agreements",
"with",
"customers",
"and",
"counterparties",
"in",
"four",
"unconventional",
"resource",
"basins",
":",
"(",
"i",
")",
"the",
"Appalachian",
"Basin",
",",
"which",
"includes",
"the",
"Marcellus",
"Shale",
"formation",
"in",
"northern",
"West",
"Virginia",
";",
"(",
"ii",
")",
"the",
"Williston",
"Basin",
",",
"which",
"includes",
"the",
"Bakken",
"and",
"Three",
"Forks",
"shale",
"formations",
"in",
"northwestern",
"North",
"Dakota",
";",
"(",
"iii",
")",
"the",
"Fort",
"Worth",
"Basin",
",",
"which",
"includes",
"the",
"Barnett",
"Shale",
"formation",
"in",
"north",
"-",
"central",
"Texas",
";",
"and",
"(",
"iv",
")",
"the",
"Piceance",
"Basin",
",",
"which",
"includes",
"the",
"Mesaverde",
"formation",
"as",
"well",
"as",
"the",
"Mancos",
"and",
"Niobrara",
"shale",
"formations",
"in",
"western",
"Colorado",
"and",
"eastern",
"Utah",
".",
"SMLP",
"owns",
"and",
"operates",
"more",
"than",
"2,600",
"miles",
"of",
"pipeline",
"and",
"over",
"250,000",
"horsepower",
"of",
"compression",
".",
"SMLP",
"is",
"headquartered",
"in",
"The",
"Woodlands",
",",
"Texas",
"with",
"regional",
"corporate",
"offices",
"in",
"Denver",
",",
"Colorado",
"and",
"Atlanta",
",",
"Georgia",
".",
"About",
"Summit",
"Midstream",
"Partners",
",",
"LLC",
"Summit",
"Midstream",
"Partners",
",",
"LLC",
"(",
"\"",
"Summit",
"Investments",
"\"",
")",
"indirectly",
"owns",
"a",
"44",
".",
"5",
"%",
"limited",
"partner",
"interest",
"in",
"SMLP",
"and",
"indirectly",
"owns",
"and",
"controls",
"the",
"general",
"partner",
"of",
"SMLP",
",",
"Summit",
"Midstream",
"GP",
",",
"LLC",
",",
"which",
"has",
"sole",
"responsibility",
"for",
"conducting",
"the",
"business",
"and",
"managing",
"the",
"operations",
"of",
"SMLP",
".",
"Summit",
"Investments",
"owns",
",",
"operates",
"and",
"is",
"developing",
"various",
"crude",
"oil",
",",
"natural",
"gas",
",",
"and",
"water",
"-",
"related",
"midstream",
"energy",
"infrastructure",
"assets",
"in",
"the",
"Bakken",
"Shale",
"in",
"North",
"Dakota",
",",
"the",
"DJ",
"Niobrara",
"Shale",
"in",
"Colorado",
",",
"and",
"the",
"Utica",
"Shale",
"in",
"Ohio",
".",
"Summit",
"Investments",
"also",
"owns",
"a",
"40",
"%",
"interest",
"in",
"a",
"joint",
"venture",
"that",
"is",
"developing",
"natural",
"gas",
"gathering",
"and",
"condensate",
"stabilization",
"infrastructure",
"in",
"the",
"Utica",
"Shale",
"in",
"southeastern",
"Ohio",
".",
"Summit",
"Investments",
"is",
"a",
"privately",
"held",
"company",
"controlled",
"by",
"Energy",
"Capital",
"Partners",
"II",
",",
"LLC",
",",
"and",
"certain",
"of",
"its",
"affiliates",
".",
"Forward",
"-",
"Looking",
"Statements",
"This",
"press",
"release",
"includes",
"certain",
"statements",
"concerning",
"expectations",
"for",
"the",
"future",
"that",
"are",
"forward",
"-",
"looking",
"within",
"the",
"meaning",
"of",
"the",
"federal",
"securities",
"laws",
".",
"Forward",
"-",
"looking",
"statements",
"contain",
"known",
"and",
"unknown",
"risks",
"and",
"uncertainties",
"(",
"many",
"of",
"which",
"are",
"difficult",
"to",
"predict",
"and",
"beyond",
"management",
"'s",
"control",
")",
"that",
"may",
"cause",
"SMLP",
"'s",
"actual",
"results",
"in",
"future",
"periods",
"to",
"differ",
"materially",
"from",
"anticipated",
"or",
"projected",
"results",
".",
"An",
"extensive",
"list",
"of",
"specific",
"material",
"risks",
"and",
"uncertainties",
"affecting",
"SMLP",
"is",
"contained",
"in",
"its",
"2014",
"Annual",
"Report",
"on",
"Form",
"10",
"-",
"K",
"filed",
"with",
"the",
"Securities",
"and",
"Exchange",
"Commission",
"on",
"March",
"2",
",",
"2015",
"and",
"as",
"amended",
"and",
"updated",
"from",
"time",
"to",
"time",
".",
"Any",
"forward",
"-",
"looking",
"statements",
"in",
"this",
"press",
"release",
"are",
"made",
"as",
"of",
"the",
"date",
"of",
"this",
"press",
"release",
"and",
"SMLP",
"undertakes",
"no",
"obligation",
"to",
"update",
"or",
"revise",
"any",
"forward",
"-",
"looking",
"statements",
"to",
"reflect",
"new",
"information",
"or",
"events",
".",
"Contact",
":",
"Marc",
"Stratton",
",",
"Senior",
"Vice",
"President",
"and",
"Treasurer",
",",
"832",
"-",
"608",
"-",
"6166",
",",
"[email protected]",
"SOURCE",
":",
"Summit",
"Midstream",
"Partners",
",",
"LP",
"EX",
"99",
".",
"1",
"-",
"2"
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"O",
"O",
"O",
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"O",
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"O",
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"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
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"O",
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"O",
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1095266-000139834411000112-fp0002421_ex99-1 | EX-99.1
6
fp0002421_ex99-1.htm
fp0002421_ex99-1.htm
www.WorkstreamInc.com
News Release
January 21, 2011
Workstream Adds Hiring Tax Credit and Incentives Management Solutions:
Incentives Advisors, LLC of Phoenix Arizona is Combined with Workstream
MAITLAND, FL…. Jan 21, 2011 (GLOBE NEWSWIRE) -- Workstream (OTCBB:
WSTM - News
), a leading provider of human capital management software and services, announced today that it has acquired Incentives Advisors, LLC of Phoenix, Arizona. This combination adds solutions for obtaining hiring tax credits, training grants and other incentives to the Workstream offering. Incentives Advisors specializes in managing the process of procuring employment-related tax credits and incentives for employers.
In announcing the acquisition, John Long, CEO of Workstream, noted: "Incentives Advisors is a growing company with the most advanced technology available to manage tax credits and incentives programs for employers. Adding the Incentives Advisors service to Workstream is an exciting step in our plans to make Workstream a premier supplier of software solutions and essential services for human resource managers".
William Becker and Shaung Liu, co-founders of Incentives Advisors, will remain with the company and continue to drive its growth. The business will continue to be based in Phoenix. Commenting on the combination with Workstream, Becker stated: "We believe in the strategy of Workstream and embrace the opportunity to join forces with this exciting company to offer a wider set of tools and solutions. It is a case of bringing added value to employers as we grow together".
Long added: "We have a shared vision with the Incentives Advisors management team and staff. Today, HR departments are lean and seek to have relationships with select vendors that deliver meaningful solutions to help meet their goals. This is often a mixture of technology solutions and critical services".
Commenting on the market opportunity, Becker said, "Each year, billions of dollars in Federal and state tax credits and incentives are available to qualifying employers. The process to apply for and claim these credits is complex and time-consuming. Incentives Advisors automates and simplifies the process of obtaining credits and incentives for employers using proprietary technology that is fast and easy to implement. For some companies that pursue these tax credits, it represents millions of dollars in benefits and has a meaningful impact on financial results. Importantly, the programs help certain groups of people gain employment and receive training that otherwise might not have been available. Both employers and employees win".
-End-
1
About Incentives Advisors, LLC:
Based in Tempe, Arizona, Incentives Advisors is a leading supplier of services to manage hiring tax credits, incentives and grants for employers across the country. More information is available at
http://www.incentivesadvisors.com.
About Workstream:
Workstream provides a variety of solutions for recruitment, compensation planning, performance management, and talent management solutions and services that help companies manage the employee lifecycle. Workstream's Talent Center enables employers to align their talent strategy with their business strategy. Solutions are offered as Software as a Service (SaaS
.
)
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations or beliefs of Workstream's management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: inability to grow our client base and revenue because of the number of competitors and the variety of sources of competition we face; client attrition; inability to identify or complete the acquisition of quality target businesses; inability to integrate acquired businesses; inability to offer services that are superior and cost effective when compared to the services being offered by our competitors; inability to further identify, develop and achieve success for new products, services and technologies; increased competition and its effect on pricing, spending, third-party relationships and revenues; as well as the inability to enter into successful strategic relationships and other risks detailed from time to time in filings with the Securities and Exchange Commission, including but not limited to those set forth under "Risk Factors" in Workstream's annual report on Form 10-K. The forward-looking statements herein reflect the company's expectations as at the date of this press release and are subject to change after this date.
Workstream Inc.
485 N. Keller Road, Suite 500
Maitland, FL 32751
For more information: Ezra Schneier
[email protected]
Tel: 407-475-5500 Ext. 709
Mobile: 267-980-6095
www.workstreaminc.com
2
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1560385-000156038513000024-lmc_exhibit991 | EX-99.1
2
lmc_exhibit991.htm
EXHIBIT
LMC_Exhibit 99.1
Exhibit 99.1
CHARTER COMMUNICATIONS AND LIBERTY MEDIA CORPORATION ANNOUNCE COMPLETION OF INVESTMENT
Stamford, Connecticut and Englewood, Colorado, May 1, 2013 - Charter Communications, Inc. (Nasdaq: CHTR) ("Charter") and Liberty Media Corporation (Nasdaq: LMCA, LMCB) ("Liberty") announced today that Liberty has completed its previously announced agreement with investment funds managed by, or affiliated with, Apollo Management, Oaktree Capital Management and Crestview Partners to acquire 26.9 million shares and 1.1 million warrants in Charter Communications, Inc. for $2.6 billion, which represents a 27.3% beneficial ownership in Charter using shares outstanding as of December 31, 2012, and a price per share of $95.50.
Liberty funded the purchase with cash on hand of $1.2 billion and borrowed $1.4 billion under newly executed margin loans on 20.3 million Charter common shares (Nasdaq: CHTR), 720 million SiriusXM common shares (Nasdaq: SIRI), 8.1 million Live Nation Entertainment common shares (NYSE: LYV) and a portion of Liberty's available for sale securities.
Liberty and Charter have entered into a previously announced stockholders agreement that among other things provides Liberty the right to designate up to four directors for appointment to the Charter board. With the closing of the transaction, Liberty has designated, and Charter's board of directors has appointed, John Malone, Chairman of Liberty; Gregory Maffei, President and CEO of Liberty; Balan Nair, EVP and CTO of Liberty Global; and Michael Huseby, CFO of Barnes & Noble to join Charter's board of directors. Additionally, John Malone will serve on the board's Nominating and Corporate Governance Committee, Greg Maffei will serve on the board's Compensation and Benefits Committee, and Michael Huseby will serve on the board's Audit Committee.
The board appointments were made in conjunction with the resignation of Stan Parker, Darren Glatt, Bruce Karsh and Edgar Lee from the board.
About Charter
Charter (Nasdaq: CHTR) is a leading broadband communications company and the fourth- largest cable operator in the United States. Charter provides a full range of advanced broadband services, including advanced Charter TV® video entertainment programming, Charter Internet® access, and Charter Phone®. Charter Business® similarly provides scalable, tailored, and cost-effective broadband communications solutions to business organizations, such as business-to-business Internet access, data networking, business telephone, video and music entertainment services, and wireless backhaul. Charter's advertising sales and production services are sold under the Charter Media® brand. More information about Charter can be found at charter.com.
About Liberty Media
Liberty Media (Nasdaq: LMCA, LMCB) owns interests in a broad range of media, communications and entertainment businesses, including its subsidiaries SiriusXM, Atlanta National League Baseball Club, Inc. and TruePosition, Inc., its interests in Charter Communications, Live Nation Entertainment and Barnes & Noble, and minority equity investments in Time Warner Inc. and Viacom.
Contact:
Liberty Media Corporation
Courtnee Ulrich
(720) 875-5420
Charter Communications, Inc.
Media: Analysts:
Anita Lamont Stefan Anninger
(314) 543-2215 (203) 905-7955
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88205-000089534505000037-jbex99_1 | EX-99.1
3
jbex99_1.txt
PRESS RELEASE
[GRAPHIC OMITTED: SPX LOGO]
Contact: Jeremy W. Smeltser (Investors)
704-752-4478
E-mail: [email protected]
Tina Betlejewski (Media)
704-752-4454
E-mail: [email protected]
SPX COMPLETES SALE OF BOMAG FOR $446 MILLION
CHARLOTTE, NC - January 3, 2005 - SPX Corporation (NYSE:SPW) today
announced that it has completed the sale of its BOMAG compaction equipment
business to Fayat for $446 million in cash. SPX will use the net proceeds
from the transaction to pay down debt.
Christopher J. Kearney, President and Chief Executive Officer of SPX,
said, "As we previously announced, we intend to use the net proceeds from
the sale of BOMAG to pay down debt which will strengthen the balance sheet
and clear the path for our new financial strategy. In December, we
committed to announce our financial strategy during the first quarter and
we are on schedule to meet that deadline".
On October 28, SPX signed a definitive agreement to sell BOMAG to
Fayat Group, a privately owned business based in Bordeaux, France.
BOMAG, based in Boppard, Germany, is a leading international
manufacturer of heavy and light equipment for soil, asphalt and refuse
compaction; in addition BOMAG sells compaction measurement and
documentation systems and is active in the spare parts and service business
as well as in the business of machinery for the recycling and stabilization
of road beds under repair.
SPX Corporation is a global provider of technical products and
systems, industrial products and services, flow technology, cooling
technologies and services, and service solutions. The Internet address for
SPX Corporation's home page is www.spx.com.
Certain statements in this press release are forward-looking
statements within the meaning of Section 21E of the Securities Exchange Act
of 1934, as amended, and are subject to the safe harbor created thereby.
Please refer to our public filings for a discussion of certain important
factors that relate to forward-looking statements contained in this press
release. The words "believe", "expect", "anticipate", "estimate,"
"guidance", "target" and similar expressions identify forward-looking
statements. Although the company believes that the expectations reflected
in its forward-looking statements are reasonable, it can give no assurance
that such expectations will prove to be correct.
SPX Corporation shareholders are strongly advised to read the proxy
statement relating to SPX Corporation's 2005 annual meeting of shareholders
when it becomes available, as it will contain important information.
Shareholders will be able to obtain this proxy statement, any amendments or
supplements to the proxy statement and any other documents filed by SPX
Corporation with the Securities and Exchange Commission for free at the
Internet website maintained by the Securities and Exchange Commission at
www.sec.gov. In addition, SPX Corporation will mail the proxy statement to
each shareholder of record on the record date to be established for the
shareholders' meeting. Copies of the proxy statement and any amendments and
supplements to the proxy statement will also be available for free at SPX
Corporation's Internet website at www.spx.com or by writing to Investor
Relations, SPX Corporation, 13515 Ballantyne Corporate Place, Charlotte,
North Carolina 28277, telephone (704) 752-4400.
SPX Corporation, its executive officers and directors may be deemed to
be participants in the solicitation of proxies for SPX Corporation's 2005
annual meeting of shareholders. Information regarding these participants is
contained in a filing under Rule 14a-12 filed by SPX Corporation with the
Securities and Exchange Commission on December 9, 2004.
# # #
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"sale",
"of",
"BOMAG",
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"pay",
"down",
"debt",
"which",
"will",
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"the",
"balance",
"sheet",
"and",
"clear",
"the",
"path",
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"our",
"new",
"financial",
"strategy",
".",
"In",
"December",
",",
"we",
"committed",
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"our",
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"strategy",
"during",
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".",
"On",
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"28",
",",
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"BOMAG",
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",",
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",",
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".",
"BOMAG",
",",
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",",
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",",
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"international",
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";",
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"road",
"beds",
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"repair",
".",
"SPX",
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"systems",
",",
"industrial",
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",",
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",",
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"technologies",
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",",
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".",
"The",
"Internet",
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"SPX",
"Corporation",
"'s",
"home",
"page",
"is",
"www.spx.com",
".",
"Certain",
"statements",
"in",
"this",
"press",
"release",
"are",
"forward",
"-",
"looking",
"statements",
"within",
"the",
"meaning",
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"Exchange",
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",",
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"amended",
",",
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".",
"Please",
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"filings",
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"a",
"discussion",
"of",
"certain",
"important",
"factors",
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"-",
"looking",
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"The",
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"\"",
",",
"\"",
"expect",
"\"",
",",
"\"",
"anticipate",
"\"",
",",
"\"",
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",",
"\"",
"\"",
"guidance",
"\"",
",",
"\"",
"target",
"\"",
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"-",
"looking",
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"expectations",
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"-",
"looking",
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",",
"it",
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"correct",
".",
"SPX",
"Corporation",
"shareholders",
"are",
"strongly",
"advised",
"to",
"read",
"the",
"proxy",
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"2005",
"annual",
"meeting",
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"when",
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",",
"as",
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"will",
"contain",
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".",
"Shareholders",
"will",
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"this",
"proxy",
"statement",
",",
"any",
"amendments",
"or",
"supplements",
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"the",
"proxy",
"statement",
"and",
"any",
"other",
"documents",
"filed",
"by",
"SPX",
"Corporation",
"with",
"the",
"Securities",
"and",
"Exchange",
"Commission",
"for",
"free",
"at",
"the",
"Internet",
"website",
"maintained",
"by",
"the",
"Securities",
"and",
"Exchange",
"Commission",
"at",
"www.sec.gov",
".",
"In",
"addition",
",",
"SPX",
"Corporation",
"will",
"mail",
"the",
"proxy",
"statement",
"to",
"each",
"shareholder",
"of",
"record",
"on",
"the",
"record",
"date",
"to",
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"established",
"for",
"the",
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"'",
"meeting",
".",
"Copies",
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"and",
"any",
"amendments",
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"free",
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"SPX",
"Corporation",
"'s",
"Internet",
"website",
"at",
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"or",
"by",
"writing",
"to",
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"Relations",
",",
"SPX",
"Corporation",
",",
"13515",
"Ballantyne Corporate",
"Place",
",",
"Charlotte",
",",
"North",
"Carolina",
"28277",
",",
"telephone",
"(",
"704",
")",
"752",
"-",
"4400",
".",
"SPX",
"Corporation",
",",
"its",
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"officers",
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"SPX",
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"2005",
"annual",
"meeting",
"of",
"shareholders",
".",
"Information",
"regarding",
"these",
"participants",
"is",
"contained",
"in",
"a",
"filing",
"under",
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"14a",
"-",
"12",
"filed",
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"SPX",
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"with",
"the",
"Securities",
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"Commission",
"on",
"December",
"9",
",",
"2004",
".",
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"#",
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"O",
"O",
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1132645-000119312505244199-dex992 | EX-99.2
10
dex992.htm
PRESS RELEASE - DECEMBER 15, 2005
Press Release - December 15, 2005
Exhibit 99.2
Transmeridian Completes
Acquisition of Bramex; Releases
Updated Reserve Estimates
HOUSTON, December 15, 2005 (Prime Zone) - Transmeridian Exploration Incorporated (AMEX: TMY) today announced that
it has completed the acquisition of Bramex Management, Inc., which owns the 50% of JSC CaspiNeft TME not previously owned by Transmeridian. Through its subsidiaries, Transmeridian now owns 100% of CaspiNeft, which operates the South Alibek Field in
Kazakhstan. In connection with the acquisition, Transmeridian paid a total of $168.0 million, of which approximately $44.0 million was to repay the outstanding bank indebtedness of CaspiNeft and the remainder represented the purchase price for the
shares of Bramex. Funds for payment of the purchase price and repayment of debt of CaspiNeft were provided from the previously announced private placement of $250 million principal amount of senior secured notes of Transmeridian Exploration Inc.,
the Company's wholly-owned British Virgin Islands subsidiary.
Separately, Transmeridian announced that it has agreed to acquire the 10% carried working interest in the South Alibek Field held by Kornerstone Investment Group, Ltd. for $15.25 million cash and one million shares of Transmeridian common
stock. This transaction is expected to be completed by December 31, 2005.
Transmeridian has received updated reserve and cash flow estimates for the South Alibek Field, and based on its ownership of 100% of CaspiNeft, the buy-out of the carried working interest held by Kornerstone and
results from the wells drilled thus far in 2005, the Company's net interest in the estimated proved reserves located in the South Alibek Field has increased to 73.7 million barrels of oil. The before-tax present value of future cash flows
from these reserves, discounted at 10%, as of October 1, 2005, is in excess of $1.0 billion. Transmeridian's reserve and cash flow estimates have been prepared by Ryder Scott Company, independent petroleum consultants.
"Successful completion of the acquisition of the Bramex and Kornerstone
interests in the field, are significant milestones in the growth of Transmeridian", commented Lorrie T. Olivier, President and Chief Executive Officer. "With substantial resources identified thus far, and the field still in the early
stages of development, we believe the timing is right to consolidate our ownership. We are now moving forward with our plans to accelerate development of the field by bringing in additional drilling rigs, which should result in increased production,
cash flow and value for our shareholders".
Transmeridian
Exploration Incorporated (TMEI) is an independent energy company established to acquire and develop oil reserves in the Caspian Sea region of the former Soviet Union. TMEI primarily targets medium-sized fields with proved or probable reserves and
significant upside reserve potential. Its first major project is the South Alibek Field in Kazakhstan and it is currently pursuing additional projects in the region.
1
Exhibit 99.2
For more information please contact the following:
Transmeridian Exploration Incorporated
Lorrie T. Olivier, CEO
Earl W. McNiel, CFO
397 N. Sam Houston Pkwy E., Suite 300
Houston, Texas 77060
Phone: (281) 999-9091
Fax: (281) 999-9094
E-mail: [email protected]
Website:
www.tmei.com
This press
release contains certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be
covered by the safe harbors created therein. These forward-looking statements include estimates of the present value of future cash flows from proved reserves. Investors are cautioned that all forward-looking statements involve risks and
uncertainties, including but not limited to those discussed in TMEI's Annual Report on Form 10-K for the year ended December 31, 2004 and other filings with the Securities and Exchange Commission. Although TMEI believes the assumptions
underlying the forward-looking statements contained herein are reasonable, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in
the forward-looking statements included herein, the inclusion herein should not be regarded as a representation by TMEI or any other person that the objectives and plans of TMEI will be achieved.
2
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"payment",
"of",
"the",
"purchase",
"price",
"and",
"repayment",
"of",
"debt",
"of",
"CaspiNeft",
"were",
"provided",
"from",
"the",
"previously",
"announced",
"private",
"placement",
"of",
"$",
"250 million",
"principal",
"amount",
"of",
"senior",
"secured",
"notes",
"of",
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"Exploration",
"Inc",
".",
",",
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"-",
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"British",
"Virgin",
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".",
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",",
"Transmeridian",
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"working",
"interest",
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"Alibek",
"Field",
"held",
"by",
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"Group",
",",
"Ltd",
".",
"for",
"$",
"15.25 million",
"cash",
"and",
"one",
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"shares",
"of",
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"common",
"stock",
".",
"This",
"transaction",
"is",
"expected",
"to",
"be",
"completed",
"by",
"December",
"31",
",",
"2005",
".",
"Transmeridian",
"has",
"received",
"updated",
"reserve",
"and",
"cash",
"flow",
"estimates",
"for",
"the",
"South",
"Alibek",
"Field",
",",
"and",
"based",
"on",
"its",
"ownership",
"of",
"100",
"%",
"of",
"CaspiNeft",
",",
"the",
"buy",
"-",
"out",
"of",
"the",
"carried",
"working",
"interest",
"held",
"by",
"Kornerstone",
"and",
"results",
"from",
"the",
"wells",
"drilled",
"thus",
"far",
"in",
"2005",
",",
"the",
"Company",
"'s",
"net",
"interest",
"in",
"the",
"estimated",
"proved",
"reserves",
"located",
"in",
"the",
"South",
"Alibek",
"Field",
"has",
"increased",
"to",
"73.7 million",
"barrels of oil",
".",
"The",
"before",
"-",
"tax",
"present",
"value",
"of",
"future",
"cash",
"flows",
"from",
"these",
"reserves",
",",
"discounted",
"at",
"10",
"%",
",",
"as",
"of",
"October",
"1",
",",
"2005",
",",
"is",
"in",
"excess",
"of",
"$",
"1.0 billion",
".",
"Transmeridian",
"'s",
"reserve",
"and",
"cash",
"flow",
"estimates",
"have",
"been",
"prepared",
"by",
"Ryder",
"Scott",
"Company",
",",
"independent",
"petroleum",
"consultants",
".",
"\"",
"Successful",
"completion",
"of",
"the",
"acquisition",
"of",
"the",
"Bramex",
"and",
"Kornerstone",
"interests",
"in",
"the",
"field",
",",
"are",
"significant",
"milestones",
"in",
"the",
"growth",
"of",
"Transmeridian",
"\"",
",",
"commented",
"Lorrie",
"T",
".",
"Olivier",
",",
"President",
"and",
"Chief",
"Executive",
"Officer",
".",
"\"",
"With",
"substantial",
"resources",
"identified",
"thus",
"far",
",",
"and",
"the",
"field",
"still",
"in",
"the",
"early",
"stages",
"of",
"development",
",",
"we",
"believe",
"the",
"timing",
"is",
"right",
"to",
"consolidate",
"our",
"ownership",
".",
"We",
"are",
"now",
"moving",
"forward",
"with",
"our",
"plans",
"to",
"accelerate",
"development",
"of",
"the",
"field",
"by",
"bringing",
"in",
"additional",
"drilling",
"rigs",
",",
"which",
"should",
"result",
"in",
"increased",
"production",
",",
"cash",
"flow",
"and",
"value",
"for",
"our",
"shareholders",
"\"",
".",
"Transmeridian",
"Exploration",
"Incorporated",
"(",
"TMEI",
")",
"is",
"an",
"independent",
"energy",
"company",
"established",
"to",
"acquire",
"and",
"develop",
"oil",
"reserves",
"in",
"the",
"Caspian",
"Sea",
"region",
"of",
"the",
"former",
"Soviet",
"Union",
".",
"TMEI",
"primarily",
"targets",
"medium",
"-",
"sized",
"fields",
"with",
"proved",
"or",
"probable",
"reserves",
"and",
"significant",
"upside",
"reserve",
"potential",
".",
"Its",
"first",
"major",
"project",
"is",
"the",
"South",
"Alibek",
"Field",
"in",
"Kazakhstan",
"and",
"it",
"is",
"currently",
"pursuing",
"additional",
"projects",
"in",
"the",
"region",
".",
"1",
"Exhibit",
"99",
".",
"2",
"For",
"more",
"information",
"please",
"contact",
"the",
"following",
":",
"Transmeridian",
"Exploration",
"Incorporated",
"Lorrie",
"T",
".",
"Olivier",
",",
"CEO",
"Earl",
"W",
".",
"McNiel",
",",
"CFO",
"397",
"N. Sam Houston",
"Pkwy",
"E",
".",
",",
"Suite",
"300",
"Houston",
",",
"Texas",
"77060",
"Phone",
":",
"(",
"281",
")",
"999",
"-",
"9091",
"Fax",
":",
"(",
"281",
")",
"999",
"-",
"9094",
"E",
"-",
"mail",
":",
"[email protected]",
"Website",
":",
"www.tmei.com",
"This",
"press",
"release",
"contains",
"certain",
"forward",
"-",
"looking",
"statements",
"within",
"the",
"meaning",
"of",
"Section",
"27A",
"of",
"the",
"Securities",
"and",
"Exchange",
"Act",
"of",
"1933",
",",
"as",
"amended",
",",
"and",
"Section",
"21E",
"of",
"the",
"Securities",
"and",
"Exchange",
"Act",
"of",
"1934",
",",
"as",
"amended",
",",
"which",
"are",
"intended",
"to",
"be",
"covered",
"by",
"the",
"safe",
"harbors",
"created",
"therein",
".",
"These",
"forward",
"-",
"looking",
"statements",
"include",
"estimates",
"of",
"the",
"present",
"value",
"of",
"future",
"cash",
"flows",
"from",
"proved",
"reserves",
".",
"Investors",
"are",
"cautioned",
"that",
"all",
"forward",
"-",
"looking",
"statements",
"involve",
"risks",
"and",
"uncertainties",
",",
"including",
"but",
"not",
"limited",
"to",
"those",
"discussed",
"in",
"TMEI",
"'s",
"Annual",
"Report",
"on",
"Form",
"10",
"-",
"K",
"for",
"the",
"year",
"ended",
"December",
"31",
",",
"2004",
"and",
"other",
"filings",
"with",
"the",
"Securities",
"and",
"Exchange",
"Commission",
".",
"Although",
"TMEI",
"believes",
"the",
"assumptions",
"underlying",
"the",
"forward",
"-",
"looking",
"statements",
"contained",
"herein",
"are",
"reasonable",
",",
"there",
"can",
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"no",
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"the",
"forward",
"-",
"looking",
"statements",
"included",
"in",
"this",
"press",
"release",
"will",
"prove",
"to",
"be",
"accurate",
".",
"In",
"light",
"of",
"the",
"significant",
"uncertainties",
"inherent",
"in",
"the",
"forward",
"-",
"looking",
"statements",
"included",
"herein",
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"the",
"inclusion",
"herein",
"should",
"not",
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"regarded",
"as",
"a",
"representation",
"by",
"TMEI",
"or",
"any",
"other",
"person",
"that",
"the",
"objectives",
"and",
"plans",
"of",
"TMEI",
"will",
"be",
"achieved",
".",
"2"
] | [
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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] |
1124077-000114420404022820-v010415_ex99-1 | EX-99.1
8
v010415_ex99-1.txt
EXHIBIT 99.1
ENHANCE BIOTECH ANNOUNCES CLOSING OF MERGER WITH ARDENT PHARMACEUTICALS
NEW YORK, NY-- (PR NEWSWIRE)--DECEMBER 20 2004--ENHANCE BIOTECH, INC. (OTC PK:
EBOI), a specialty pharmaceutical company developing a portfolio of products
focused on lifestyle drugs, and Ardent Pharmaceuticals Inc., a world leader in
discovering and developing delta receptor compounds, announced today that their
previously announced merger transaction has been consummated. As a consequence
of the transaction, Ardent is now a wholly-owned subsidiary of Enhance Biotech,
Inc. The new portfolio offers a broad pipeline of products under development,
ranging from pre-clinical New Chemical Entities (NCE) through to later stage
products addressing the potentially large lifestyle market areas of urology,
dermatology and Central Nervous System (CNS). The management and scientific team
includes leading specialist scientists in the delta receptor area and management
talent with an expertise in licensing products and driving them through the
regulatory process to market. Combined facilities include state-of-the-art
laboratory and development facilities for early stage chemistry and pharmacology
along with clinical expertise. Merger agreements provide that immediately upon
consummation of the merger transaction, on a fully-diluted basis, Enhance's
pre-existing stockholders own approximately fifty-five percent (55%) of Enhance
Biotech, Inc., and former Ardent shareholders own approximately approximately
forty-five percent (45%) of Enhance Biotech, Inc.
Effective immediately, Chris Every, Enhance Biotech's CEO, will continue as the
CEO, President and a member of the Board of Directors. Dr. Ken Chang, Chairman,
Chief Executive Officer and Founder of Ardent, has been appointed President of
Asia Pacific Operations and Chief Science Officer of Enhance. Phillip Wise,
Chief Financial Officer and VP Business Development of Ardent has been named the
Chief Financial Officer of Enhance. Sam McCormick, the Chief Science Officer of
Enhance has assumed the position of Vice President Science of Europe. The
Company's operational headquarters is based in the North Carolina Research
Triangle with corporate offices in New York and London.
Chris Every commented, "This merger opens an exciting future for our employees,
shareholders and future customers. The closing of this merger transaction was
the realization of the hard work and collaborative efforts of employees from
both organizations. The success of the negotiation process, which was
facilitated by independent biotech bankers BIO-IB, bodes well for effective
completion and cohesive merging of the operations of the two organizations in
the immediate future. Combined, our two companies have taken a significant step
toward fulfilling the vision of becoming a leader in lifestyle, specialty
pharmaceuticals offering a broad portfolio of products to the market in a
relatively short period of time".
About Enhance Biotech
Enhance Biotech, Inc. is a specialty pharmaceutical company focused on
developing a product portfolio in three key areas of the lifestyle drug market:
urology, dermatology and CNS. Key conditions addressed within the urology area
are Urinary Incontinence and Sexual Dysfunction, which include premature
ejaculation and male fertility, while skincare indications include Cellulite,
Itch, Anti-aging, Periodontal Disease and Dermatological Disorders such as
Atopic Dermatitis and Psoriasis. Within the CNS area, the Company is developing
compounds in moderate-to-severe Pain, Parkinson's disease and Depression. An
area for future licensing for which the Company has developed compounds is
Cardio-protection. The Company has developed substantial knowledge of the
chemistry and pharmacology of the delta receptor, including a library of
approximately 1,000 compounds that demonstrate specific delta receptor activity.
This creates a valuable product portfolio in the lifestyle market, a market that
is forecast to grow to US $32 billion by 2008. The pharmaceutical industry has
invested over $20 billion in R&D for lifestyle drugs over the last 10 years,
although relatively few new products have as yet reached the market. Enhance's
lead development products are intended to address unmet needs in these global
blockbuster markets. These products are generally in development stages ranging
from pre-clinical target compound selection through to late Phase II. Enhance
has 18 employees and an extensive research facility based in North Carolina's
Research Triangle Park along with experienced clinical development and
commercial management. For more information on the Company, please visit the
Company's website at www.enhancelifesciences.com.
Certain statements contained herein are "forward-looking" statements (as such
term is defined in the Private Securities Litigation Reform Act of 1995).
Because these statements include risks and uncertainties, actual results may
differ materially from those expressed or implied by such forward-looking
statements. Specifically, factors that could cause actual results to differ
materially from those expressed or implied by such forward-looking statements
include, but are not limited to: risks associated with preclinical and clinical
developments in the biopharmaceutical industry in general and in Enhance
Biotech's compounds under development in particular; the potential failure of
Enhance Biotech's compounds under development to prove safe and effective for
treatment of disease; uncertainties inherent in the early stage of Enhance
Biotech' compounds under development; failure to successfully implement or
complete clinical trials; failure to receive marketing clearance from regulatory
agencies for our compounds under development; acquisitions, divestitures,
mergers, licenses or strategic initiatives that change Enhance Biotech'
business, structure or projections; the development of competing products;
uncertainties related to Enhance Biotech' dependence on third parties and
partners; and those risks described in the filings with the SEC, all of which
are under the Company's prior name Becor Communications, Inc. Enhance Biotech
disclaims any obligation to update these forward-looking statements.
Investor Contact: European Contact:
Yvonne Zappulla John Gisborne
Managing Director Splash Communications
Wall Street Investor Relations (44) 1225 - 318000
212-681-4108 [email protected]
[email protected]
END OF FILING
| [
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"-",
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"Investor",
"Contact",
":",
"European",
"Contact",
":",
"Yvonne",
"Zappulla",
"John",
"Gisborne",
"Managing",
"Director",
"Splash",
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"(",
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")",
"1225",
"-",
"318000",
"212",
"-",
"681",
"-",
"4108",
"[email protected]",
"[email protected]",
"END",
"OF",
"FILING"
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1272550-000165495417004069-rtnb_ex991 | EX-99.1
3
rtnb_ex991.htm
PRESS RELEASE
Blueprint
Exhibit 99.1
root9B Holdings Sells IPSA's Investigative Due Diligence
Practice
Colorado Springs, CO - May 1, 2017
- root9B Holdings,
Inc. (Nasdaq: RTNB) ("RTNB") today announced that it has sold the
Investigative Due Diligence Practice ("IDDP") of its wholly-owned
subsidiary IPSA International Services, Inc. ("IPSA") to Exiger
Canada, Inc. ("Exiger") for total consideration of $6 million and
up to an additional $4 million by way of a three-year earn-out
based on the achievement by IDDP of certain performance targets.
Proceeds will be reduced by a Working Capital Adjustment, currently
estimated to be in excess of $1.0m.
The
IDDP includes the sale of the stock of IPSA's Canadian subsidiary
(IPSA International, Inc. Canada) located in Vancouver, BC and
IPSA's London, Hong Kong and Miami offices, contracts and
employees. For the past 15 years, IPSA's IDDP has provided services
in matters of multi-jurisdictional corruption, bribery and due
diligence investigations. The IDDP also performs due diligence
related to travel, employment and settlement including for
immigration, citizenship & visas; and is considered an industry
pioneer in work related to citizenship by investment due diligence
where it is considered a trusted leader by many of the largest and
fastest growing programs operating in the world today.
"We
have made measurable progress in re-positioning RTNB's business to
that of a pure-play cybersecurity company", said Joseph J. Grano,
Jr., Chairman and CEO of RTNB. "The sale of our IDDP, along with
our previously announced non-core divestitures, strengthens RTNB's
overall financial positon and provides additional capital to fund
the growth of our cybersecurity operations. We have great
confidence in our team of cybersecurity professionals that is led
by Eric Hipkins, the founder and CEO of our root9B LLC subsidiary
who will become CEO of RTNB on May 25, 2017".
"We
continue to execute against our previously announced set of
strategic initiatives, and this transaction is another meaningful
step in that regard", said Dan Wachtler, President and COO of RTNB.
"Kim Marsh has been my partner for nearly 15 years, and he and his
team have built a great business for IPSA. We are confident however
that each of us will be in a better position to grow our two
distinct businesses as separate companies. While we still need to
complete the divestiture of our remaining Anti-Money Laundering
business, we can now more fully focus our internal resources on
growing our cyber business and delivering long-term value to our
shareholders".
About root9B
Ranked
as the #1 Cybersecurity company for 2016 by
Cybersecurity Ventures
, root9B
stands in defiance of the unwanted human presence within our
clients' networks by attacking the root of the problem-the
adversary's ability to gain entry and remain undetected. root9B's
application of advanced technology developed through cutting-edge
R&D and engineering and refined through relevant, hands-on
training is revolutionary. root9B combines next generation
technology, tactics development, specialty tools, and deep mission
experience. root9B personnel leverage their extensive backgrounds
in the U.S. Intelligence Community to conduct advanced
vulnerability analysis, penetration testing, digital forensics,
incident response, Industrial Control System (ICS) security, and
HUNT
(Active
Adversary Pursuit) engagements on networks worldwide. For more
information, visit
www.root9B.com
.
About root9B Holdings, Inc.
root9B
Holdings is a leading provider of Cybersecurity and Regulatory Risk
Mitigation Services. Through its wholly owned subsidiaries root9B,
Business Advisory Services and IPSA International Services, Inc.,
the Company delivers results that improve productivity, mitigate
risk and maximize profits. Its clients range in size from Fortune
100 companies to mid-sized and owner-managed businesses across a
broad range of industries including local, state and government
agencies. For more information, visit
www.root9bholdings.com
.
About Exiger
Exiger
is a global regulatory and financial crime, risk and compliance
company. Exiger arms financial institutions, multinational
corporations and governmental agencies with the practical advice
and technology solutions they need to prevent compliance breaches,
respond to risk, remediate major issues and monitor ongoing
business activities. Exiger works with clients worldwide to assist
them in effectively managing their critical challenges while
developing and implementing the policies, procedures and programs
needed to create a sustainable compliance environment. A global
authority on regulatory compliance, the company also oversees some
of the world's most complex court-appointed and voluntary
monitorships in the private and public sectors, including the
monitorship of HSBC. Exiger has four principal business units
being: Exiger Advisory; Exiger Analytics; Exiger Diligence and
Exiger Insight 3PM. Exiger operates through offices in New York
City, Silver Spring (DC Metro), London, Hong Kong, Toronto and
Singapore. For more information, visit
www.exiger.com
.
Forward Looking Statements
Certain
statements contained in this press release may include
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements are
based on the Company's current expectations or beliefs and are
subject to uncertainty and changes in circumstances. Actual results
may vary materially from those expressed or implied by the
statements herein due to changes in economic, business, competitive
and/or regulatory factors, and other risks and uncertainties
affecting the operation of the Company's business. These risks,
uncertainties and contingencies are indicated from time to time in
the Company's filings with the Securities and Exchange Commission.
The information set forth herein should be read in light of such
risks. Further, investors should keep in mind that the Company's
financial results in any particular period may not be indicative of
future results. The Company is under no obligation to, and
expressly disclaims any obligation to, update or alter its
forward-looking statements, whether as a result of new information,
future events, changes in assumptions or otherwise.
Investors:
The
Equity Group Inc.
Devin
Sullivan
[email protected]
212-836-9608
Media Contact:
Zito
Partners
Andrew
Hoffman
[email protected]
908-546-7447
| [
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",",
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",",
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".",
"About",
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",",
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".",
"Forward",
"Looking",
"Statements",
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"statements",
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"may",
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"-",
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"meaning",
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"Litigation",
"Reform",
"Act",
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".",
"Actual",
"results",
"may",
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"implied",
"by",
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",",
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",",
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"/",
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",",
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",",
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".",
"The",
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"herein",
"should",
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"results",
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"The",
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",",
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".",
"Investors",
":",
"The",
"Equity",
"Group",
"Inc",
".",
"Devin",
"Sullivan",
"[email protected]",
"212",
"-",
"836",
"-",
"9608",
"Media",
"Contact",
":",
"Zito",
"Partners",
"Andrew",
"Hoffman",
"[email protected]",
"908",
"-",
"546",
"-",
"7447"
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1089029-000114420409041442-v156896_ex99-1 | EX-99.1
8
v156896_ex99-1.htm
EXHIBIT
99.1
Contact:
Stephen
J. Schoepfer
(609)
945-0405
[email protected]
JAG
Media Holdings, Inc. Announces Completion
of
Acquisition of CardioGenics Inc.
Mississauga, Ontario, July 31,
2009
- JAG Media Holdings, Inc. (OTCBB: JAGH) announced today that it has
completed the acquisition of CardioGenics Inc. by JAG Media's Ontario, Canada
subsidiary, CardioGenics ExchangeCo Inc. In connection with the acquisition,
ExchangeCo acquired all of the outstanding shares of common stock of
CardioGenics, excluding 173,869 CardioGenics common shares in the aggregate
owned by two (2) minority stockholders of CardioGenics.
Pursuant
to the terms of the Share Purchase Agreement dated May 22, 2009 among JAG Media,
CardioGenics ExchangeCo Inc. and Yahia Gawad, the principal stockholder of
CardioGenics, and in consideration for the surrender of their CardioGenics
common shares, the CardioGenics stockholders received 422,183,610 shares of JAG
Media common stock (the "Share Consideration"). The CardioGenics stockholders
had the option to receive at the closing their pro-rata allocation of the Share
Consideration in the form of (a) JAG Media common shares or (b) "Exchangeable
Shares" of CardioGenics ExchangeCo Inc., which are exchangeable at any time into
JAG Media common shares in accordance with the rights and preferences of such
Exchangeable Shares. Those CardioGenics stockholders who elected to receive
directly JAG Media common shares were issued, in the aggregate, 145,528,195 JAG
Media common shares at the closing and those CardioGenics stockholders who
elected to receive Exchangeable Shares were issued 16 Exchangeable Shares at the
closing, which are exchangeable at any time into 276,655,415 JAG Media common
shares, in the aggregate. The Share Consideration issued at the closing provides
the CardioGenics stockholders with direct and indirect ownership of
approximately 85% of JAG Media's outstanding common stock, on a fully diluted
basis.
All JAG
Media common shares received by CardioGenics stockholders in exchange for their
CardioGenics common shares shall not be registered for resale and, therefore,
shall remain subject to the rights and restrictions of Rule 144. All
Exchangeable Shares received by CardioGenics stockholders in exchange for their
CardioGenics common shares (and any JAG Media common shares into which such
Exchangeable Shares may be exchanged) shall not be registered for resale prior
to six (6) months following the closing and, therefore shall remain subject to
the rights and restrictions of Rule 144 prior to any such
registration.
At the
closing, our current directors resigned as directors of JAG Media and its
subsidiaries, after appointing CardioGenics designees as their successors, and
our current officers also resigned as officers and executives of JAG Media and
its subsidiaries. After their resignation and the closing, our former directors
entered into consulting agreements with the company pursuant to which they will
render various services to assist the company in connection with certain
transition and other matters.
"It is
extremely gratifying to complete the acquisition of CardioGenics", stated Thomas
J. Mazzarisi, former Chairman & CEO of JAG Media. "We have had a long and
sometimes turbulent search for an appropriate acquisition partner for our
company, but I'm confident that we have now found the right one in CardioGenics.
CardioGenics is an exciting company preparing to deploy its innovative
technology and products in the point-of-care In-Vitro-Diagnostics market and has
a management team with the credentials and track record to maximize such
deployment, all of which, I believe, provides excellent upside potential for the
company's stockholders" continued Mazzarisi.
"It has
been a rewarding experience working with Thomas J. Mazzarisi and Stephen J.
Schoepfer through all of the issues of cross-border transactions and I would
like to thank them both for their effort and dedication to consummate this
acquisition. With the required funds at hand, the commercialization of
CardioGenics technology and products will proceed at a much faster pace to bring
much-needed products to the In-Vitro-Diagnostics market, noted Yahia Gawad, CEO
of CardioGenics".
Following
the closing, the company intends to change its name to "CardioGenics Holdings
Inc." in order to better reflect the new focus of the company's business. An
information statement with respect to such name change and certain other matters
will be delivered to stockholders of record prior to the effective date of such
name change. The company has submitted its application to FINRA for approval of
the name change and issuance of a new ticker symbol for the company's common
stock. Until approval of the name change by FINRA and issuance of the new ticker
symbol, the company's common stock will continue to trade on the OTCBB under its
current ticker symbol "JAGH." Upon effectiveness of the name change, the
CardioGenics Holdings Inc. common stock will also carry a new CUSIP number.
There is no need for stockholders to exchange their current JAG Media common
stock certificates for CardioGenics Holdings stock certificates once the name
change becomes effective. However, should you nevertheless wish to exchange your
JAG Media common stock certificates for certificates reflecting the CardioGenics
Holdings name, you are free to do so and should contact the company's transfer
agent, Transfer Online, to make such arrangements.
A Current
Report on Form 8-K containing further details regarding our acquisition of
CardioGenics will be filed by the company and will be available on
EDGAR.
About
JAG Media Holdings, Inc.
JAG Media
Holdings, Inc. is a provider of Internet-based equities research and financial
information that offers its subscribers a variety of stock market research, news
and analysis, including "JAG Notes", the Company's flagship early morning
consolidated research product. With the acquisition of CardioGenics, the
company's business will now be refocused on developing technologies and products
for the point-of-care in vitro diagnostics market.
2
About
CardioGenics Inc.
CardioGenics
develops technology and products targeting the immunoassay segment of the
In-Vitro Diagnostic
testing
market. CardioGenics has developed the QL Care Analyzer, a proprietary Point Of
Care immuno-analyzer, which will run a number of diagnostic tests
under development by CardioGenics, the first of which will be a
series of cardiovascular diagnostic tests. As part of its core proprietary
technology, CardioGenics has also developed a proprietary method for silver
coating paramagnetic microspheres (a fundamental platform component of
immunoassay equipment), which improve instrument sensitivity to light.
CardioGenics' principal offices are located in Mississauga, Ontario,
Canada.
3
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1477425-000110465919005112-a19-3724_2ex99d1 | EX-99.1
4
a19-3724_2ex99d1.htm
EX-99.1
Exhibit 99.1
Twilio Completes Acquisition of SendGrid
SAN FRANCISCO, Feb. 1, 2019
- Twilio (NYSE:TWLO), the leading cloud communications platform, today announced the successful completion of its previously announced acquisition of SendGrid, Inc., the leading email API platform. This follows approval by the stockholders of both companies at separate meetings on Jan. 30, 2019. This transaction is valued at approximately $3 billion. Based on the closing price of Twilio Class A common stock on Jan. 31, 2019 and the exchange ratio of 0.485 shares of Twilio Class A common stock per share of SendGrid common stock, SendGrid stockholders received approximately $53.99 of aggregate value per share of SendGrid common stock. As a result of the acquisition, shares of common stock of SendGrid ceased trading prior to the open of the market on Feb. 1, 2019 and will no longer be listed on the New York Stock Exchange.
"Effective customer engagement is a strategic imperative for every company. With SendGrid now a part of Twilio, our goal is to provide a complete platform for every form of customer engagement", said Jeff Lawson, Twilio co-founder and CEO. "Through our mutual developer-first approach, we empower the builders of the world to create magical customer experiences unique to every interaction".
SendGrid will operate as a wholly owned subsidiary of Twilio and will continue to be led by SendGrid CEO Sameer Dholakia, reporting to Lawson.
"Together, we serve more than 140,000 active customer accounts and power more than 600 billion annualized interactions each year. We have a shared vision, a shared model and shared values that will set us up for success", said Dholakia. "As we join forces today, I'm more confident than ever that we can accelerate our vision of creating one unquestioned platform of choice for developers and companies around the world and help them transform the way they engage with their customers".
Together, this acquisition will provide developers and companies:
·
Access to the single, best-in-class platform to manage all important communication channels: voice, messaging, video and now, email;
·
Unmatched scalability and reliability to ensure their businesses are supported as they grow; and
·
The ability to deliver consistent and personalized messaging based on the customers' preferred form of communication.
"As a customer of both Twilio and SendGrid, we couldn't be more excited for two of the leading customer communication platforms in the market to come together", said Matthew Daimler, VP of Strategic Initiatives at Zillow Group. "Purchasing a home is one of the most important decisions that a person will make in their lifetime therefore, our customers expect to communicate with our realtors in a timely and personalized manner whether it be via phone, text or email. Having one seamless customer communication platform that offers omnichannel engagement transforms the way we interact with our customers".
"The acquisition of SendGrid signals that Twilio is redefining its position in the market, enhancing its customer engagement capabilities with a comprehensive omnichannel offering", said Raul Castanon-Martinez, senior analyst, 451 Research. "The deal should also help cement its position in the enterprise. This could give Twilio added momentum for expanding its customer base and support continued revenue growth".
With SendGrid, developers and businesses can use Twilio to reach their customers over any channel - voice, SMS, Facebook Messenger, WhatsApp, video, and now email. Across a wide variety of customer touchpoints, companies can now trust one platform to deliver the right communication, on the right channel, without having to setup different vendors for each approach.
"As the leading independent provider of identity for the enterprise, Okta enables organizations to secure and manage their workforces while transforming their customers' identity experience", said Hector Aguilar, CTO of Okta. "We have built a seamless, easy-to-use service that leverages email, messaging and voice for notifications and verification actions with our customers. Twilio's and SendGrid's services truly are mission-critical to our business, making the acquisition an opportunity for greater innovation and long-term benefits to joint customers like Okta".
About Twilio
Millions of developers around the world have used Twilio to unlock the magic of communications to improve any human experience. Twilio has democratized communications channels like voice, text, chat, video and email by virtualizing the world's communications infrastructure through APIs that are simple enough for any developer to use, yet robust enough to power the world's most demanding applications. By making communications a part of every software developer's toolkit, Twilio is enabling innovators across every industry - from emerging leaders to the world's largest organizations - to reinvent how companies engage with their customers.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws, which statements involve substantial risks and uncertainties. The words such as "will", "expected", "could", and similar phrases that denote future expectations or intent are intended to identify forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. These statements are based on management's current expectations, assumptions, estimates and beliefs. While Twilio believes these expectations, assumptions, estimates and beliefs are reasonable, such forward-looking statements are only predictions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.
The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: adverse changes in general economic or market conditions; changes in the market for communications; Twilio's ability to adapt its products to meet evolving market and customer demands and rapid technological change; Twilio's ability to generate sufficient revenues to achieve or sustain profitability; Twilio's ability to retain customers and attract new customers; Twilio's limited operating history, which makes it difficult to evaluate its prospects and future operating results; Twilio's ability to effectively manage its growth; Twilio's ability to compete effectively in an intensely competitive market, and risks that the anticipated benefits of the acquisition of SendGrid may not be fully realized or may take longer to realize than expected.
The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in Twilio's most recent filings with the Securities and Exchange Commission. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that Twilio makes with the Securities and Exchange Commission from time to time. Forward-looking statements speak only as of the date such statements are made. Except as required by law, Twilio undertakes no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future.
# # #
Twilio Media:
[email protected]
Twilio Investor Relations:
[email protected]
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885462-000119380509001884-e605896_ex99-1 | EX-99.1
2
e605896_ex99-1.htm
Unassociated Document
Exhibit
99.1
Gulf
Resources, Inc.
David
Wong, VP of Finance
E-mail:
[email protected]
[email protected]
CCG Investor Relations
Mr. Crocker Coulson, President
Phone: +1-646-213-1915
E-mail:
[email protected]
Helen Xu
E-mail: [email protected]
[email protected]
Website:
http://www.gulfresourcesinc.cn/
Ms. Linda Salo,
Financial Writer
Phone: +1-646-922-0894
E-mail:
[email protected]
Website:
http://www.ccgirasia.com/
Gulf
Resources Completes Acquisition of Manufacturing Assets in
September
New York & Shandong Province,
October 2, 2009
- Gulf Resources, Inc. (OTC BB: GFRE) ("Gulf Resources"
or the "Company"), a leading manufacturer of bromine, crude salt and specialty
chemical products in China, announced today that the Company on September 25,
2009 completed transfer of ownership of bromine and crude salt manufacturing
assets, for which it entered into an asset purchase agreement on September 7,
2009. On September 30, the Company paid the remaining 70% consideration of the
$11.5 million cash payment, upon which the transaction closed.
With
support from the sellers of the assets, the Company signed a land lease
agreement with local authorities and obtained the required land use rights for
the property. The Company expects to start operations using the newly acquired
assets by the end of November 2009, after completing maintenance and
upgrade.
In
addition to the cash consideration, the Company will issue 4,229,366 shares of
common stock, priced at $1.163 per share and equal to approximately $4.9
million, to the sellers of the assets.
About
Gulf Resources, Inc.
Gulf
Resources, Inc. operates through two wholly-owned subsidiaries, Shouguang City
Haoyuan Chemical Company Limited ("SCHC") and Shouguang Yuxin Chemical Industry
Co., Limited ("SYCI"). The Company believes that it is one of the largest
producers of bromine in China. Elemental Bromine is used to manufacture a wide
variety of compounds utilized in industry and agriculture. Through SYCI, the
Company manufactures chemical products utilized in a variety of applications,
including oil & gas field explorations and as papermaking chemical agents.
For more information about the Company, please visit
www.gulfresourcesinc.cn
Forward-Looking
Statements
Certain
statements in this news release contain forward-looking information about Gulf
Resources and its subsidiaries business and products within the meaning of Rule
175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange
Act of 1934, and are subject to the safe harbor created by those rules. The
actual results may differ materially depending on a number of risk factors
including, but not limited to, the general economic and business conditions in
the PRC, future product development and production capabilities, shipments to
end customers, market acceptance of new and existing products, additional
competition from existing and new competitors for bromine and other oilfield and
power production chemicals, changes in technology, the ability to make future
bromine asset purchases, and various other factors beyond its control. All
forward-looking statements are expressly qualified in their entirety by this
Cautionary Statement and the risks factors detailed in the Company's reports
filed with the Securities and Exchange Commission. Gulf Resources undertakes no
duty to revise or update any forward-looking statements to reflect events or
circumstances after the date of this release.
###
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",",
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"Forward",
"-",
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949394-000101968708001524-amacore_8k-ex9901 | EX-99.1
4
amacore_8k-ex9901.htm
PRESS RELEASE
amacore_8k-ex9901.htm
Exhibit 99.1
Company
Contact:
Jay
Shafer, President
The
Amacore Group, Inc.
Investor
Relations Contact:
Seventh
Circle Consulting, LLC
Christine
Petraglia - 646-354-8886
FOR
IMMEDIATE RELEASE
THE
AMACORE GROUP, INC. ACQUIRES
US
HEALTH BENEFITS GROUP, INC.
LAKE MARY, FL, April 2, 2008
-- The Amacore Group, Inc., (OTC BB: ACGI), a leader in providing
health-related membership benefit programs, insurance programs, and other
innovative and high-quality solutions to individuals, families and employer
groups nationwide, today announced that on March 31, 2008, the Company made an
important and strategic acquisition of US Heath Benefits Group, Inc. (USHBG), a
call center-based marketing company.
Through
its inbound telemarketing division comprised of multiple call centers (over
fifty seats), USHBG engages in the marketing of association membership programs
and health insurance plans to individuals and families throughout the United
States. In addition, it utilizes its proprietary call center software
application (LeadMaster) to connect consumers who are searching online for a
health care quote with sales agents in one of its multiple call centers for
sales agents to service customers. For purposes of the acquisition, the
parties valued USHBG at $14,300,000 and the consideration for the
acquisition was comprised of a combination of cash and stock..
The USHBG
Pompano-based group includes three companies:
·
US
Healthcare Plans, Inc, a health benefit discount plan marketing
company;
·
On
The Phone, Inc., a consulting company;
and
·
US
Health Benefits Group, Inc., a health benefit plan marketing
company.
With a
proven track record of profitability, USHBG currently markets Amacore's
wholly-owned subsidiary LifeGuard Benefit Services, Inc.'s DirectMed association
membership programs generating approximately $1 million a month in gross revenue
for LifeGuard, resulting in $500,000 per month in revenue to USHGB.
Howard
Knaster, founder and President of USHBG said, "I am very excited about
joining Amacore and their management team in an effort to be a
part of their well-respected organization. I believe Amacore's product
line is exactly what my company needs to increase sales and take my
existing business to the next level. The biggest challenge for my company
the past two years has been obtaining a solid line of products and services to
attract and maintain a solid customer base. US Health Benefits
Group's sales staff now can offer Amacore's vast array of quality
products and services along with its administration support staff, which will
benefit our customers tremendously. In addition, since we are already
aggressively marketing Amacore's and LifeGuard's vast array of products, there
is absolutely no lag time in implementation and integration of our combined
resources".
Jay
Shafer, President of The Amacore Group, said, "We are extremely excited about
the addition of USHBG to the Amacore team and the capabilities Howard brings to
the marketing efforts of Amacore. This further demonstrates our
commitment to building a nationwide distribution system for health care
products. Not only does this enhance our call center capabilities,
but it broadens Amacore's base by providing a source for lead generation that
can be expanded across all of Amacore's distribution channels and thereby
increasing sales company wide. This is a very exciting time to be
part of the Amacore family of companies".
About The Amacore Group,
Inc.
The
Amacore Group, Inc. (www.amacoregroup.com) offers innovative and affordable
healthcare solutions to families, individuals, small and large employer groups,
and association markets through a wide array of unique products, benefits and
services created for the consumer driven healthcare market. The Company also
offers a unique and proprietary administrative system that supports call center
management, agent distribution and affinity marketing for all levels of product
delivery and reporting. Amacore has created several limited medical programs
that include its new Diamond Series and Discount Medical programs, featuring
Smarthealth Plus and Smarthealth Premier, which expand the Company's offerings
beyond its very successful eye care program, Eye Care International
(www.ecivisionplan.com). These new programs offer discounts on quality hearing,
dental, vision and doctor visits, among other benefits. Amacore is aggressively
signing distribution and sales contracts with marketing companies to offer these
programs nationwide. Through its wholly-owned subsidiary, LifeGuard Benefit
Solutions, Inc., Amacore now has the ability to provide administrative and
back-office services to other healthcare companies in addition to expanding its
own call center capability through its wholly-owned subsidiary, JRM Benefits
Consultants, LLC and USHBG.
Zurvita,
Inc., Amacore's newly formed, wholly-owned subsidiary specializing in direct to
consumer multi-level marketing, provides yet another channel for Amacore's
ever-increasing range of healthcare and healthcare-related
products.
This press release contains
forward-looking statements that are subject to risks and uncertainties. These
forward-looking statements include information about possible or assumed future
results of our business, financial condition, liquidity, results of operations,
plans and objectives. In some cases, you may identify forward-looking statements
by words such as "may", "should", "plan", "intend", "potential", "continue,"
"believe", "expect", "predict", "anticipate" and "estimate", the negative of
these words or other comparable words. These statements are only predictions.
One should not place undue reliance on these forward-looking statements. The
forward-looking statements are qualified by their terms and/or important
factors, many of which are outside the Company's control, involve a number of
risks, uncertainties and other factors that could cause actual results and
events to differ materially from the statements made. The forward-looking
statements are based on the Company's beliefs, assumptions and expectations of
our future performance, taking into account information currently available to
the Company. These beliefs, assumptions and expectations can change as a result
of many possible events or factors, including those events and factors described
in "Risk Factors" in the prospectus, not all of which are known to the Company.
Neither the Company nor any other person assumes responsibility for the accuracy
or completeness of these statements. The Company will update the information in
this press release only to the extent required under applicable securities laws.
If a change occurs, the Company's business, financial condition, liquidity and
results of operations may vary materially from those expressed in the
aforementioned forward-looking
statements.
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"and",
"other",
"innovative",
"and",
"high",
"-",
"quality",
"solutions",
"to",
"individuals",
",",
"families",
"and",
"employer",
"groups",
"nationwide",
",",
"today",
"announced",
"that",
"on",
"March",
"31",
",",
"2008",
",",
"the",
"Company",
"made",
"an",
"important",
"and",
"strategic",
"acquisition",
"of",
"US",
"Heath",
"Benefits",
"Group",
",",
"Inc",
".",
"(",
"USHBG",
")",
",",
"a",
"call",
"center",
"-",
"based",
"marketing",
"company",
".",
"Through",
"its",
"inbound",
"telemarketing",
"division",
"comprised",
"of",
"multiple",
"call",
"centers",
"(",
"over",
"fifty",
"seats",
")",
",",
"USHBG",
"engages",
"in",
"the",
"marketing",
"of",
"association",
"membership",
"programs",
"and",
"health",
"insurance",
"plans",
"to",
"individuals",
"and",
"families",
"throughout",
"the",
"United",
"States",
".",
"In",
"addition",
",",
"it",
"utilizes",
"its",
"proprietary",
"call",
"center",
"software",
"application",
"(",
"LeadMaster",
")",
"to",
"connect",
"consumers",
"who",
"are",
"searching",
"online",
"for",
"a",
"health",
"care",
"quote",
"with",
"sales",
"agents",
"in",
"one",
"of",
"its",
"multiple",
"call",
"centers",
"for",
"sales",
"agents",
"to",
"service",
"customers",
".",
"For",
"purposes",
"of",
"the",
"acquisition",
",",
"the",
"parties",
"valued",
"USHBG",
"at",
"$",
"14,300,000",
"and",
"the",
"consideration",
"for",
"the",
"acquisition",
"was",
"comprised",
"of",
"a",
"combination",
"of",
"cash",
"and",
"stock",
".",
".",
"The",
"USHBG",
"Pompano",
"-",
"based",
"group",
"includes",
"three",
"companies",
":",
"·",
"US",
"Healthcare",
"Plans",
",",
"Inc",
",",
"a",
"health",
"benefit",
"discount",
"plan",
"marketing",
"company",
";",
"·",
"On",
"The",
"Phone",
",",
"Inc",
".",
",",
"a",
"consulting",
"company",
";",
"and",
"·",
"US",
"Health",
"Benefits",
"Group",
",",
"Inc",
".",
",",
"a",
"health",
"benefit",
"plan",
"marketing",
"company",
".",
"With",
"a",
"proven",
"track",
"record",
"of",
"profitability",
",",
"USHBG",
"currently",
"markets",
"Amacore",
"'s",
"wholly",
"-",
"owned",
"subsidiary",
"LifeGuard",
"Benefit",
"Services",
",",
"Inc",
".",
"'s",
"DirectMed",
"association",
"membership",
"programs",
"generating",
"approximately",
"$",
"1 million",
"a",
"month",
"in",
"gross",
"revenue",
"for",
"LifeGuard",
",",
"resulting",
"in",
"$",
"500,000",
"per",
"month",
"in",
"revenue",
"to",
"USHGB",
".",
"Howard",
"Knaster",
",",
"founder",
"and",
"President",
"of",
"USHBG",
"said",
",",
"\"",
"I",
"am",
"very",
"excited",
"about",
"joining",
"Amacore",
"and",
"their",
"management",
"team",
"in",
"an",
"effort",
"to",
"be",
"a",
"part",
"of",
"their",
"well",
"-",
"respected",
"organization",
".",
"I",
"believe",
"Amacore",
"'s",
"product",
"line",
"is",
"exactly",
"what",
"my",
"company",
"needs",
"to",
"increase",
"sales",
"and",
"take",
"my",
"existing",
"business",
"to",
"the",
"next",
"level",
".",
"The",
"biggest",
"challenge",
"for",
"my",
"company",
"the",
"past",
"two",
"years",
"has",
"been",
"obtaining",
"a",
"solid",
"line",
"of",
"products",
"and",
"services",
"to",
"attract",
"and",
"maintain",
"a",
"solid",
"customer",
"base",
".",
"US",
"Health",
"Benefits",
"Group",
"'s",
"sales",
"staff",
"now",
"can",
"offer",
"Amacore",
"'s",
"vast",
"array",
"of",
"quality",
"products",
"and",
"services",
"along",
"with",
"its",
"administration",
"support",
"staff",
",",
"which",
"will",
"benefit",
"our",
"customers",
"tremendously",
".",
"In",
"addition",
",",
"since",
"we",
"are",
"already",
"aggressively",
"marketing",
"Amacore",
"'s",
"and",
"LifeGuard",
"'s",
"vast",
"array",
"of",
"products",
",",
"there",
"is",
"absolutely",
"no",
"lag",
"time",
"in",
"implementation",
"and",
"integration",
"of",
"our",
"combined",
"resources",
"\"",
".",
"Jay",
"Shafer",
",",
"President",
"of",
"The",
"Amacore",
"Group",
",",
"said",
",",
"\"",
"We",
"are",
"extremely",
"excited",
"about",
"the",
"addition",
"of",
"USHBG",
"to",
"the",
"Amacore",
"team",
"and",
"the",
"capabilities",
"Howard",
"brings",
"to",
"the",
"marketing",
"efforts",
"of",
"Amacore",
".",
"This",
"further",
"demonstrates",
"our",
"commitment",
"to",
"building",
"a",
"nationwide",
"distribution",
"system",
"for",
"health",
"care",
"products",
".",
"Not",
"only",
"does",
"this",
"enhance",
"our",
"call",
"center",
"capabilities",
",",
"but",
"it",
"broadens",
"Amacore",
"'s",
"base",
"by",
"providing",
"a",
"source",
"for",
"lead",
"generation",
"that",
"can",
"be",
"expanded",
"across",
"all",
"of",
"Amacore",
"'s",
"distribution",
"channels",
"and",
"thereby",
"increasing",
"sales",
"company",
"wide",
".",
"This",
"is",
"a",
"very",
"exciting",
"time",
"to",
"be",
"part",
"of",
"the",
"Amacore",
"family",
"of",
"companies",
"\"",
".",
"About",
"The",
"Amacore",
"Group",
",",
"Inc",
".",
"The",
"Amacore",
"Group",
",",
"Inc",
".",
"(",
"www.amacoregroup.com",
")",
"offers",
"innovative",
"and",
"affordable",
"healthcare",
"solutions",
"to",
"families",
",",
"individuals",
",",
"small",
"and",
"large",
"employer",
"groups",
",",
"and",
"association",
"markets",
"through",
"a",
"wide",
"array",
"of",
"unique",
"products",
",",
"benefits",
"and",
"services",
"created",
"for",
"the",
"consumer",
"driven",
"healthcare",
"market",
".",
"The",
"Company",
"also",
"offers",
"a",
"unique",
"and",
"proprietary",
"administrative",
"system",
"that",
"supports",
"call",
"center",
"management",
",",
"agent",
"distribution",
"and",
"affinity",
"marketing",
"for",
"all",
"levels",
"of",
"product",
"delivery",
"and",
"reporting",
".",
"Amacore",
"has",
"created",
"several",
"limited",
"medical",
"programs",
"that",
"include",
"its",
"new",
"Diamond",
"Series",
"and",
"Discount",
"Medical",
"programs",
",",
"featuring",
"Smarthealth",
"Plus",
"and",
"Smarthealth",
"Premier",
",",
"which",
"expand",
"the",
"Company",
"'s",
"offerings",
"beyond",
"its",
"very",
"successful",
"eye",
"care",
"program",
",",
"Eye",
"Care",
"International",
"(",
"www.ecivisionplan.com",
")",
".",
"These",
"new",
"programs",
"offer",
"discounts",
"on",
"quality",
"hearing",
",",
"dental",
",",
"vision",
"and",
"doctor",
"visits",
",",
"among",
"other",
"benefits",
".",
"Amacore",
"is",
"aggressively",
"signing",
"distribution",
"and",
"sales",
"contracts",
"with",
"marketing",
"companies",
"to",
"offer",
"these",
"programs",
"nationwide",
".",
"Through",
"its",
"wholly",
"-",
"owned",
"subsidiary",
",",
"LifeGuard",
"Benefit",
"Solutions",
",",
"Inc",
".",
",",
"Amacore",
"now",
"has",
"the",
"ability",
"to",
"provide",
"administrative",
"and",
"back",
"-",
"office",
"services",
"to",
"other",
"healthcare",
"companies",
"in",
"addition",
"to",
"expanding",
"its",
"own",
"call",
"center",
"capability",
"through",
"its",
"wholly",
"-",
"owned",
"subsidiary",
",",
"JRM",
"Benefits",
"Consultants",
",",
"LLC",
"and",
"USHBG",
".",
"Zurvita",
",",
"Inc",
".",
",",
"Amacore",
"'",
"s",
"newly",
"formed",
",",
"wholly",
"-",
"owned",
"subsidiary",
"specializing",
"in",
"direct",
"to",
"consumer",
"multi",
"-",
"level",
"marketing",
",",
"provides",
"yet",
"another",
"channel",
"for",
"Amacore",
"'s",
"ever",
"-",
"increasing",
"range",
"of",
"healthcare",
"and",
"healthcare",
"-",
"related",
"products",
".",
"This",
"press",
"release",
"contains",
"forward",
"-",
"looking",
"statements",
"that",
"are",
"subject",
"to",
"risks",
"and",
"uncertainties",
".",
"These",
"forward",
"-",
"looking",
"statements",
"include",
"information",
"about",
"possible",
"or",
"assumed",
"future",
"results",
"of",
"our",
"business",
",",
"financial",
"condition",
",",
"liquidity",
",",
"results",
"of",
"operations",
",",
"plans",
"and",
"objectives",
".",
"In",
"some",
"cases",
",",
"you",
"may",
"identify",
"forward",
"-",
"looking",
"statements",
"by",
"words",
"such",
"as",
"\"",
"may",
"\"",
",",
"\"",
"should",
"\"",
",",
"\"",
"plan",
"\"",
",",
"\"",
"intend",
"\"",
",",
"\"",
"potential",
"\"",
",",
"\"",
"continue",
",",
"\"",
"\"",
"believe",
"\"",
",",
"\"",
"expect",
"\"",
",",
"\"",
"predict",
"\"",
",",
"\"",
"anticipate",
"\"",
"and",
"\"",
"estimate",
"\"",
",",
"the",
"negative",
"of",
"these",
"words",
"or",
"other",
"comparable",
"words",
".",
"These",
"statements",
"are",
"only",
"predictions",
".",
"One",
"should",
"not",
"place",
"undue",
"reliance",
"on",
"these",
"forward",
"-",
"looking",
"statements",
".",
"The",
"forward",
"-",
"looking",
"statements",
"are",
"qualified",
"by",
"their",
"terms",
"and",
"/",
"or",
"important",
"factors",
",",
"many",
"of",
"which",
"are",
"outside",
"the",
"Company",
"'s",
"control",
",",
"involve",
"a",
"number",
"of",
"risks",
",",
"uncertainties",
"and",
"other",
"factors",
"that",
"could",
"cause",
"actual",
"results",
"and",
"events",
"to",
"differ",
"materially",
"from",
"the",
"statements",
"made",
".",
"The",
"forward",
"-",
"looking",
"statements",
"are",
"based",
"on",
"the",
"Company",
"'s",
"beliefs",
",",
"assumptions",
"and",
"expectations",
"of",
"our",
"future",
"performance",
",",
"taking",
"into",
"account",
"information",
"currently",
"available",
"to",
"the",
"Company",
".",
"These",
"beliefs",
",",
"assumptions",
"and",
"expectations",
"can",
"change",
"as",
"a",
"result",
"of",
"many",
"possible",
"events",
"or",
"factors",
",",
"including",
"those",
"events",
"and",
"factors",
"described",
"in",
"\"",
"Risk",
"Factors",
"\"",
"in",
"the",
"prospectus",
",",
"not",
"all",
"of",
"which",
"are",
"known",
"to",
"the",
"Company",
".",
"Neither",
"the",
"Company",
"nor",
"any",
"other",
"person",
"assumes",
"responsibility",
"for",
"the",
"accuracy",
"or",
"completeness",
"of",
"these",
"statements",
".",
"The",
"Company",
"will",
"update",
"the",
"information",
"in",
"this",
"press",
"release",
"only",
"to",
"the",
"extent",
"required",
"under",
"applicable",
"securities",
"laws",
".",
"If",
"a",
"change",
"occurs",
",",
"the",
"Company",
"'s",
"business",
",",
"financial",
"condition",
",",
"liquidity",
"and",
"results",
"of",
"operations",
"may",
"vary",
"materially",
"from",
"those",
"expressed",
"in",
"the",
"aforementioned",
"forward",
"-",
"looking",
"statements",
"."
] | [
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"B-Parties.BUYING_COMPANY",
"I-Parties.BUYING_COMPANY",
"I-Parties.BUYING_COMPANY",
"I-Parties.BUYING_COMPANY",
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"B-Parties.ACQUIRED_COMPANY",
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"I-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
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"O",
"O",
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"O",
"B-Parties.BUYING_COMPANY",
"I-Parties.BUYING_COMPANY",
"I-Parties.BUYING_COMPANY",
"I-Parties.BUYING_COMPANY",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"B-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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1336277-000119983506000580-exhibit_99-1 | EX-99.1
2
exhibit_99-1.htm
FUEGO ENTERTAINMENT ISSUES LETTER OF INTENT TO ACQUIRE 14 TELEVISION STATIONS AND DELAYS THE LAUNCHING OF THE TELEVISION STATION IN PUERTO RICO
Fuego Entertainment Issues Letter of Intent to Acquire 14 Television Stations
and Delays the Launching of the Television Station in Puerto Rico
Fuego
Entertainment Issues Letter of Intent to Acquire 14 Television Stations and
Delays the Launching of the Television Station in Puerto
Rico
MIAMI,
August 24, 2006 -- Fuego Entertainment, Inc. (OTC Bulletin Board: FUGO) today
announced that it has issued a letter of intent to acquire 14 television
stations for a total consideration of $11 million in cash and stock, including
the assumption of liabilities. As part of its commitment to acquire these
assets, Fuego will place 1 million shares of the Company's Rule 144 common stock
in third-party escrow. The transaction is subject to a 60-day due diligence
period and approval by the FCC.
Additionally,
Fuego has announced that management has decided to postpone the launch of the
television station in Puerto Rico for a few weeks. Delaying the launch of this
station allows the Company to restructure its format for a Spanish language
network rather than a single station.
"With
the
proposed acquisition of the 14 TV stations, Fuego is positioned to become one
of
the largest television broadcasters of Spanish-speaking media", said Hugo
Cancio, CEO. "We will need to tailor each station to meet its market
demographics and lay a plan that accomplishes the goal of leading Fuego to
becoming a strong media player with further station acquisitions".
"Management's
decision to get into station ownership will provide an immediate operating
base
to develop", stated Felix Danciu, board member. "It is important that the
Company realize its vision through organic growth, internal development, and
making value-added acquisitions that expand its markets".
The
14
antennas are located in Alabama, Illinois, Iowa, North Carolina, Florida,
Kentucky, Tennessee, Georgia, and Louisiana. The transaction will be treated
as
an asset acquisition.
Fuego
Entertainment is primarily engaged in directing, producing, marketing, and
distributing entertainment products, including feature and short films,
documentaries, television shows, music, and tour productions.
This
press release contains statements, which may constitute forward-looking
statements within the meaning of the Securities Act of 1933 and the Securities
Exchange Act of 1934, as amended by the Private Securities Litigation Reform
Act
of 1995. Those statements include statements regarding the intent, belief or
current expectations of Fuego Entertainment, Inc., members of their management,
and assumptions on which such statements are based. Prospective investors are
cautioned that any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual results may
differ materially from those contemplated by such forward-looking
statements.
CONTACT:
Fuego Entertainment, Inc., Dan York, Investor Relations, 214 675-2531,
[email protected]
| [
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1283709-000128370912000079-a99-1pressreleaseofthomasp | EX-99.1
5
a99-1pressreleaseofthomasp.htm
PRESS RELEASE SEPTEMBER 19, 2012
99 - 1 Press Release of Thomas Properties Group, Inc. dated September 19, 2012
Exhibit 99.1
THOMAS PROPERTIES GROUP, INC. ANNOUNCES ACQUISITION OF OF AUSTIN OFFICE PORTFOLIO
LOS ANGELES-Business Wire-September 19, 2012-Thomas Properties Group, Inc. (NASDAQ: TPGI) today announced that it and California State Teachers' Retirement System ("CalSTRS") have jointly acquired an eight-building, three million-square-foot portfolio of office properties in downtown and suburban Austin, Texas. The portfolio was purchased from TPG-Austin Portfolio Syndication Partners, a venture among Lehman Brothers Holdings Inc. (50%), an offshore sovereign wealth fund (25%) and TPG/CalSTRS, LLC (25%).
Thomas Properties Group and CalSTRS have formed a new venture, known as TPG/CalSTRS Austin, LLC, to own the Austin portfolio. Thomas Properties Group's subsidiary is the managing member with a 50% interest and CalSTRS owns the remaining 50% interest.
Concurrently, Thomas Properties Group has entered into an agreement with an affiliate of Madison International Realty whereby its affiliate will acquire a one-third interest in Thomas Properties Group's subsidiary that owns the interest in TPG/CalSTRS Austin, LLC. Thomas Properties Group is the managing member of the subsidiary and will act on its behalf as the manager of TPG/CalSTRS Austin, LLC.
The portfolio was purchased for $859 million before prorations and adjustments. As part of the purchase price, TPG/CalSTRS Austin, LLC assumed five existing first mortgage loans totaling $626 million. The transaction reduced the existing leverage on the portfolio by repaying approximately $200 million owed to Lehman Commercial Paper, Inc. Thomas Properties Group retains all operating responsibilities for the properties and the existing Austin leasing and management team will remain in place.
Thomas Properties Group Chairman and CEO James Thomas said "In keeping with our strategic plan to acquire wholly-owned or equally-controlled properties that are accretive to our after tax cash flow, we are pleased with the opportunity to increase our investment in Austin and more particularly, in a group of assets that we consider to be crown jewels. We are very encouraged by the continued strength in the Austin market and the prospects for future growth".
"These are dynamic properties in a fast-growing market that continues to demonstrate strong fundamentals", said Ronald Dickerman, president of Madison International Realty. "The portfolio fits well with Madison's investment strategy focusing on the acquisition of partial interests in core assets".
The Austin portfolio includes five downtown Austin properties known as Frost Bank Tower, 300 West 6th Street, One American Center, San Jacinto Center and One Congress Plaza, as well as three suburban properties known as Westech 360, Park Centre and Great Hills Plaza in Northwest Austin. Separately, Thomas Properties Group also owns Four Points Centre in Far Northwest Austin and operates downtown's 816 Congress and Austin Center for owner Lehman Brothers Holdings Inc.
About Thomas Properties Group, Inc.
Thomas Properties Group, Inc., based in Los Angeles, is a full-service real estate company that owns, acquires, develops and manages primarily office, as well as mixed-use and residential properties on a nationwide basis. The company's primary areas of focus are the acquisition and ownership of premier properties, both on a consolidated basis and through its strategic joint ventures, property development and redevelopment, and property management and leasing activities. For more information about Thomas Properties Group, Inc., please visit www.tpgre.com.
About Madison International Realty
Madison International Realty (www.madisonint.com) is a leading liquidity provider to real estate investors and companies worldwide. Madison provides strategic equity capital for recapitalizations, partner buyouts and balance
sheet restructurings through the acquisition of joint venture, limited partner and co-investment interests as principals and invests in equity securities of undervalued public companies. With approximately $1 billion in assets under management, Madison invests in direct secondary transactions and directly in companies focused on Class A properties and portfolios in the U.S., U.K., and Western Europe. Founded in 1996, Madison has offices in New York, London and Frankfurt, Germany.
About the California State Teachers' Retirement System
The California State Teachers' Retirement System, with a portfolio valued at $152.1 billion as of July 31, 2012, is the largest teacher pension fund and second largest public pension fund in the United States. CalSTRS administers a hybrid retirement system, consisting of traditional defined benefit, cash balance and voluntary defined contribution plans, as well as disability and survivor benefits. CalSTRS serves California's 856,000 public school educators and their families from the state's 1,600 school districts, county offices of education and community college districts.
Forward Looking Statements
Statements made in this press release that are not historical may contain forward-looking statements. Although TPGI believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, these statements are subject to numerous risks and uncertainties. Factors that could cause actual results to differ materially from TPGI's expectations include actual and perceived trends in various national and economic conditions that affect global and regional markets for commercial real estate services (including interest rates), the availability of credit and equity investors to finance commercial real estate transactions, our ability to enter into or renew leases at favorable rates, which can be impacted by the financial condition of our tenants, risks associated with the success of our development and property redevelopment projects, general volatility in the securities and credit markets, and the impact of tax laws affecting real estate. For a discussion of some of the factors that may cause our results to differ from management's expectations, see the information under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Form 10-K for the year ended December 31, 2011 and our subsequent Form 10-Q quarterly reports, each of which is filed with the Securities and Exchange Commission. TPGI disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
###
Investor Relations Contact:
Thomas Properties Group, Inc.
Diana Laing
Chief Financial Officer
213-613-1900
Media Contact:
Casey & Sayre
Karen Diehl
310-473-8090
For Madison International Realty:
Michelle Manoff
Rubenstein Public Relations
212-843-8051
[email protected]
| [
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"properties",
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".",
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"investors",
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"[email protected]"
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1114483-000115752307006152-a5428330ex99_1 | EX-99.1
2
a5428330ex99_1.txt
EXHIBIT 99.1
Exhibit 99.1
Greatbatch Announces Completion of Enpath Medical Acquisition
CLARENCE, N.Y.--(BUSINESS WIRE)--June 18, 2007--Greatbatch, Inc.
(NYSE: GB) announced today that it has successfully completed its
previously announced acquisition of Enpath Medical, Inc.
Greatbatch's acquisition of Enpath Medical was structured as a
cash tender offer for the outstanding shares of Enpath Medical
followed by the merger of a Greatbatch acquisition subsidiary with and
into Enpath Medical, resulting in Enpath Medical becoming a wholly
owned, indirect subsidiary of Greatbatch. In the merger, outstanding
Enpath Medical shares not tendered in the tender offer were converted
into the right to receive $14.38 per share, in cash, without interest
and less any required withholding taxes.
About Greatbatch
Greatbatch, Inc. is a leading developer and manufacturer of
critical components used in implantable medical devices and other
technically demanding applications.
About Enpath Medical
Enpath Medical, Inc., headquartered in Plymouth, Minnesota, is a
leader in the design, development, manufacture and marketing of
percutaneous delivery systems and stimulation leads technologies. Its
proprietary products include venous vessel introducers, articulating
and fixed curve delivery catheters, epicardial and endocardial
stimulation leads, and other products for use in pacemaker,
defibrillator, catheter and infusion port procedures as well as
neuromodulation markets. Its products, which are primarily finished
goods, are sold worldwide through partnering relationships with other
medical device companies.
CONTACT: Greatbatch, Inc.
Anthony Borowicz
Treasurer and Director, Investor Relations
716-759-5809
[email protected]
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729237-000072923713000120-pky-20131219x8kxex991 | EX-99.1
6
pky-20131219x8kxex991.htm
EXHIBIT 99.1
PKY-2013.12.19-8K-EX 99.1
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
PARKWAY PROPERTIES, INC. AND THOMAS PROPERTIES GROUP,
INC. COMPLETE MERGER VALUED AT $1.2 BILLION
ORLANDO, FLORIDA - December 20, 2013 - Parkway Properties, Inc. (NYSE:PKY) (Parkway) today announced the completion of the merger with Thomas Properties Group, Inc. (NYSE: TPGI) (Thomas Properties) valued at approximately $1.2 billion. The transaction was approved by stockholders of each company at their respective stockholder meetings on December 17, 2013. The combined company will continue to trade under Parkway's existing ticker symbol, PKY, on the New York Stock Exchange.
As a result of the merger, each former share of Thomas Properties common stock has been converted into 0.3822 of a newly issued share of Parkway common stock and each former share of Thomas Properties limited voting stock has been converted into 0.3822 of a newly issued share of Parkway limited voting stock. Former Thomas Properties stockholders hold approximately 25% of the combined company's equity, with continuing Parkway stockholders holding approximately 75% of the combined company's equity. Effective with the close of the market today, Thomas Properties' shares of common stock will no longer be traded on the New York Stock Exchange.
James R. Heistand, President and Chief Executive Officer of Parkway, stated, We are thrilled to have completed this transaction as it represents a major step forward in Parkway's long-term strategy to be the premier owner and operator of Class A office buildings in the Sunbelt. We are excited to add these ten high-class buildings to our portfolio, as they will strengthen our position in the Houston market and provide entry to the Austin market with scale. We are confident that we will be able to capitalize on the strong office fundamentals in these two markets and successfully implement our local market operational strategy to unlock additional value at the assets.
Parkway also announced that it completed the sale of Thomas Properties' ownership interest in two office properties located in Philadelphia, Pennsylvania known as Commerce Square to Brandywine Realty Trust (NYSE:BDN) (Brandywine), based on a gross property value of approximately $331.8 million. Additionally, Parkway announced that it completed the sale of Thomas Properties' Four Points Centre and a contiguous land parcel located in Austin, Texas to Brandywine for a gross sale price of approximately $47.3 million. Parkway received approximately $93.5 million in net proceeds from the sale of these assets.
James A. Thomas, the former Chairman, President and Chief Executive Officer of Thomas Properties, has joined Parkway's board of directors and will serve as Chairman of the board. I am very pleased with the completion of this transaction which brings together these two entities and results in a strong company with an attractive portfolio in desirable markets, stated Mr. Thomas. Parkway's current executive officers will continue as the executive officers of the combined company.
Advisors
BofA Merrill Lynch served as exclusive financial advisor to Parkway, and Hogan Lovells US LLP acted as its legal counsel. Morgan Stanley & Co. LLC served as exclusive financial advisor to Thomas Properties, and Skadden, Arps, Slate, Meagher & Flom LLP acted as its legal counsel.
About Parkway Properties
Parkway Properties, Inc. is a fully integrated, self-administered and self-managed real estate investment trust specializing in the acquisition, ownership and management of quality office properties in higher growth submarkets in the Sunbelt region of the United States. Parkway owns or has an interest in 43 office properties located in eight states with an aggregate of approximately 12.6 million square feet at October 1, 2013. Parkway also offers fee-based real estate services which manage and/or lease approximately 11.7 million square feet for third parties as of October 1, 2013. Additional information about Parkway is available on the company's website at www.pky.com.
Forward Looking Statement
Certain statements in this release that are not in the present or past tense or discuss Parkway's expectations (including the use of the words anticipate, believe, forecast, intends, expects, project, or similar expressions) are forward-looking statements within the meaning of the federal securities laws and as such are based upon Parkway's current belief as to the outcome and timing of future events. Examples of forward-looking statements include projected net operating income, cap rates, internal rates of return, future dividend payment rates, forecasts of FFO accretion, projected capital improvements, expected sources of financing, expectations as to the timing of closing of acquisitions, dispositions, or other transactions, and descriptions relating to these expectations. There can be no assurance that future developments affecting Parkway will be those anticipated by Parkway. These forward-looking statements involve risks and uncertainties (some of which are beyond the control of Parkway) and are subject to change based upon various factors, including but not limited to the following risks and uncertainties: changes in the real estate industry and in performance of the financial markets; the actual or perceived impact of U.S. monetary policy; the demand for and market acceptance of Parkway's properties for rental purposes; the ability of Parkway to enter into new leases or renewal leases on favorable terms; the amount and growth of Parkway's expenses; tenant financial difficulties and general economic conditions, including interest rates, as well as economic conditions in those areas where Parkway owns properties; risks associated with joint venture partners; the risks associated with the ownership and development of real property; the failure to acquire or sell properties as and when anticipated; termination of property management contracts; the bankruptcy or insolvency of companies for which Parkway provides property management services or the sale of these properties; the outcome of claims and litigation involving or affecting Parkway; the ability to satisfy conditions necessary to close pending transactions and the ability to successfully integrate pending transactions; risks associated with acquisitions, including the integration of Thomas Properties Group, Inc.'s businesses; risks associated with achieving expected synergies or cost savings; and other risks and uncertainties detailed from time to time in Parkway's Securities and Exchange Commission filings. Should one or more of these risks or uncertainties occur, or should underlying assumptions prove incorrect, Parkway's business, financial condition, liquidity, cash flows and results could differ materially from those expressed in the forward-looking statements. Any forward looking statements speaks only as of the date on which it is made. New risks and uncertainties arise over time, and it is not possible for us to predict the occurrence of those matters or the manner in which they may affect us. Parkway does not undertake to update forward-looking statements except as may be required by law.
Contact:
Ted McHugh
Director of Investor Relations
(407) 650-0593
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"Parkway",
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"James",
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"Forward",
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"Parkway",
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"looking",
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"required",
"by",
"law",
".",
"Contact",
":",
"Ted",
"McHugh",
"Director",
"of",
"Investor",
"Relations",
"(",
"407",
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"650",
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] |
1061507-000095017204002386-nyc555957 | EX-99
8
nyc555957.txt
EXHIBIT 99.1
Exhibit 99.1
Graham Packaging Acquires Owens-Illinois Blow-Molded Plastic Container Business
YORK, Pa., Oct. 7 /PRNewswire/ -- Graham Packaging Company, L.P. today
announced that it has completed its acquisition of the blow-molded plastic
container business of Owens-Illinois, the world's largest manufacturer of
glass containers, at a price of approximately $1.2 billion.
The purchase positions Graham Packaging to become a leading global producer of
value-added blow-molded plastic packaging.
"We are extremely pleased to complete this transaction and we will now begin
to rapidly integrate these two first-class companies", said Graham Packaging
Chairman and CEO Philip R. Yates. "We are delighted to welcome the
Owens-Illinois plastic blow-molding team to join and strengthen our effort to
become the clear customer-preferred global leader in value-added, technology-
based plastic packaging.
"We appreciate all the support we have received from employees, customers,
suppliers and the financial community for making this combination a reality.
O-I's plastic container business is an industry leader and a great company.
This business is a good match with Graham Packaging in terms of its emphasis
on technology, commitment to high quality, and its culture of customer
service", said Yates. "Our customers will enjoy the benefits of more resources
resulting in even better value in terms of products, services, and innovative
technology".
Graham Packaging Company, L.P., based in York, Pennsylvania, USA, is a
worldwide leader in the design, manufacture and sale of technology-based,
customized blow-molded plastic containers for the branded food and beverage,
household, specialty container and automotive lubricants markets. The company,
subsequent to the acquisition of O-I's plastic container business, will employ
approximately 9,000 people at 90 plants throughout North America, Europe and
South America. It produced more than 16 billion units and had total worldwide
net sales of $2.1 billion over the last 12 months ending in June 2004 on a pro
forma basis. The Blackstone Group of New York is the majority owner of Graham
Packaging.
This news release contains forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934, as amended. The company's
future operating results will be affected by various uncertainties and risk
factors, many of which are beyond the company's control. For a description of
these uncertainties and risk factors, and for a more complete description of
the company's results of operations, see the company's Annual Report on Form
10-K for the year ended December 31, 2003, filed with the Securities and
Exchange Commission.
| [
"EX",
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"EXHIBIT",
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".",
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1503828-000114420412005084-v300929_ex99-1 | EX-99.1
2
v300929_ex99-1.htm
CONTACTS
From: Anthony J. DeFazio
DeFazio Communications, LLC
[email protected]
Ph: (484-532-7783)
For: Brian S. Block, EVP & CFO
American Realty Capital Trust III, Inc.
[email protected]
Ph: (212-415-6500)
FOR IMMEDIATE RELEASE
American Realty Capital Trust III
Acquires
Express Scripts Building
New York, NY, January 31, 2012
- American
Realty Capital Trust III, Inc. (the "Company") announced that on January 25, 2012, the Company closed its acquisition
of a fee-simple interest in one building located in the Express Scripts headquarters campus in St. Louis, Missouri, at a contract
purchase price of approximately $42.6 million, exclusive of closing costs.
The Express Scripts building contains 227,467 rentable
square feet and is 100% leased to Express Scripts, Inc. (Nasdaq: "ESRX"), which has an investment grade credit rating
as determined by major credit rating agencies. The lease has a 10-year term and expires in January 2022.
As of January 31, 2012, the Company owns 44 properties
which it acquired for $121.3 million, exclusive of closing costs, with a weighted-average remaining lease term of 13.7 years. The
portfolio includes properties leased to eight tenants in seven industries. Seventy percent of the tenants have an investment grade
credit rating as determined by major credit rating agencies. As of January 31, 2012, the Company's leverage ratio, defined
as secured mortgage financings as a percentage of total real estate investments, was 37%. The weighted average interest rate on
mortgage debt was 4.62%.
American Realty Capital Trust III, Inc. is a publicly
registered, non-traded real estate investment program.
To arrange interviews with executives of American Realty
Capital Trust III, Inc. please contact Tony DeFazio at 484-532-7783 or
[email protected]
.
###
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1466538-000146653819000003-pressreleaseexhibit | EX-99.1
2
pressreleaseexhibit.htm
EXHIBIT 99.1
Exhibit
FOR IMMEDIATE RELEASE
COWEN COMPLETES ACQUISITION OF QUARTON INTERNATIONAL, LEADING MIDDLE-MARKET FINANCIAL ADVISORY FIRM
New York, NY, January 3, 2019 - Cowen Inc. (NASDAQ: COWN) ("Cowen" or the "Company") today announced that it has completed its acquisition of Quarton International AG and affiliated Quarton entities (collectively, "Quarton International"), a leading global financial advisory company serving the middle market. The closing of this transaction creates a global, cross-border investment banking platform, with significantly expanded reach in the middle market and a full-service offering of public and private financing solutions across the capital structure.
"Quarton's substantial middle-market advisory business in Europe and the U.S., in combination with Cowen's merger advisory and capital markets franchises, meaningfully scales our advisory business in a manner that will truly benefit our clients", said Jeffrey M. Solomon, Chief Executive Officer of Cowen. "The closing of this transaction is a significant step towards Cowen's goal of growing our higher margin advisory business as well as diversifying our revenues by industry".
Added Larry Wieseneck, Co-President of Cowen and Company, "We are delighted to have the Quarton team join the Cowen family. Driven by a common entrepreneurial philosophy, we share the same client-centric approach. We look forward to delivering the full breadth of our combined platforms to Quarton's clients".
Cowen and Quarton management are implementing a transition and integration plan to provide seamless service to the combined firm's clients. Effective today, Quarton's U.S. operations now operate under the Cowen brand; Quarton Europe is now "Quarton, a Cowen Company".
Cowen acquired 100% of Quarton International's equity interests for upfront consideration of $75 million subject to certain net working capital and other customary adjustments, with additional contingent consideration of $40 million that will become payable dependent on the achievement of certain milestones by Quarton. In addition, Quarton and Cowen have established a retention bonus pool for previous Quarton International employees. All consideration, including pursuant to any employee retention program, is comprised of 80% cash and 20% Cowen Class A common stock.
1 COWEN.COM COWEN COWENRESEARCH COWEN INC. MEMBER: FINRA/SIPC
About Cowen Inc.
Cowen Inc. ("Cowen" or the "Company") is a diversified financial services firm that operates through two business segments: a broker dealer and an investment management division. The Company's broker dealer division offers investment banking services, equity and credit research, sales and trading, prime brokerage, global clearing and commission management services. Cowen's investment management segment offers actively managed alternative investment products. Cowen Inc. focuses on delivering value-added capabilities to our clients in order to help them outperform. Founded in 1918, the firm is headquartered in New York and has offices worldwide. Learn more at Cowen.com.
Contacts
Cowen Media:
Lynda Caravello
+1 646-562-1676
[email protected]
Gagnier Communications
Dan Gagnier
+1 646-569-5897
[email protected]
2 COWEN.COM COWEN COWENRESEARCH COWEN INC. MEMBER: FINRA/SIPC
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913142-000091314222000009-exhibit991tofeb222022form | EX-99.1
2
exhibit991tofeb222022form.htm
EX-99.1
Document
Exhibit 99.1
1 North Brentwood Boulevard
Phone: 314.854.8000
15th Floor
Fax: 314.854.8003
St. Louis, Missouri 63105
www.Belden.com
News Release
Belden Announces Completion of Tripwire Divestiture
St. Louis, Missouri - February 23, 2022 - Belden Inc. (NYSE: BDC), a leading global supplier of specialty networking solutions, today announced the completion of the previously announced divestiture of the Company's Tripwire cybersecurity business ("Tripwire") to HelpSystems, a cybersecurity and automation software company, for $350 million in cash.
Roel Vestjens, President and CEO of Belden Inc., said, "We are pleased to announce the completion of this important transaction, which further strengthens our balance sheet and provides significant financial flexibility as we execute our strategic growth plans. Our portfolio of businesses is aligned around the favorable secular trends in industrial automation, broadband & 5G, and smart buildings, and we are excited about our initiatives to drive profitable growth".
Use of Non-GAAP Financial Information
Adjusted results are non-GAAP measures that reflect certain adjustments the Company makes to provide insight into operating results. GAAP to non-GAAP reconciliations accompany the condensed consolidated financial statements included in this release and have been published to the investor relations section of the Company's website at https://investor.belden.com.
Forward-Looking Statements
This release and any statements made by us concerning the subject matter of this release may contain forward-looking statements, including our expectations for the first quarter and full-year 2022, the Tripwire divestiture, and the results of our restructuring program. Forward-looking statements also include any statements regarding future financial performance (including revenues, expenses, earnings, margins, cash flows, dividends, capital expenditures and financial condition), plans and objectives, and related assumptions. In some cases these statements are identifiable through the use of words such as "anticipate", "believe", "estimate", "forecast", "guide", "expect", "intend", "plan", "project", "target", "can", "could", "may", "should", "will", "would" and similar expressions. Forward-looking statements reflect management's current beliefs and expectations and are not guarantees of future performance. Actual results may differ materially from those suggested by any forward-looking statements for a number of reasons, including, without limitation: the impact of the recent disruptions in the global supply chain, including the inability to obtain components in sufficient quantities on commercially reasonable terms; the lack of certainty as to the duration and magnitude of the impact of COVID-19 and the economic recovery from that impact; foreign and domestic political, economic and other uncertainties, including changes in currency exchange rates; the impact of a challenging global economy or a downturn in served markets; the inability to successfully complete and integrate acquisitions in furtherance of the Company's strategic plan; difficulty in forecasting revenue due to the unpredictable timing of orders related to customer projects as well as the impacts of channel inventory; the cost and availability of raw materials including copper, plastic compounds, electronic components, and other materials, particularly given the recent increase in inflation and the financial impact if we are not able to pass through cost increases to customers; the inability to execute and realize the expected benefits from strategic initiatives (including revenue growth, cost control, and productivity improvement programs); the inability to retain key employees; the increased influence of chief information officers on purchasing decisions; disruptions in the Company's information systems including due to cyber-attacks leading to exposures of personally identifiable information; changes in tax laws and variability in the Company's quarterly and annual effective tax rates; the competitiveness of the global markets in which we operate; the presence of substitute products in the marketplace; the increased prevalence of cloud computing; the inability of the Company to develop and introduce new products and competitive responses to our products; the inability to achieve our strategic priorities in emerging markets; the impact of changes in global tariffs and trade agreements; volatility in credit and foreign exchange markets; the presence of activists proposing certain actions by the Company; perceived or actual product failures; risks related to the use of open source software; disruption of, or changes in, the Company's key distribution channels; assertions that the Company violates the intellectual property of others and the ownership of intellectual property by competitors and others that prevents the use of that intellectual property by the Company; the impact of regulatory requirements and other legal compliance issues; the impairment of goodwill and other intangible assets and the resulting impact on financial performance; disruptions and increased costs attendant to collective bargaining groups and other labor matters; and other factors.
1
For a more complete discussion of risk factors, please see our Annual Report on Form 10-K for the period ended December 31, 2021, filed with the SEC on February 15, 2022. Although the content of this release represents our best judgment as of the date of this report based on information currently available and reasonable assumptions, we give no assurances that the expectations will prove to be accurate. Deviations from the expectations may be material. For these reasons, Belden cautions readers to not place undue reliance on these forward-looking statements, which speak only as of the date made. Belden disclaims any duty to update any forward-looking statements as a result of new information, future developments, or otherwise, except as required by law.
About Belden
Belden Inc. delivers a comprehensive product portfolio designed to meet the mission-critical network infrastructure needs of industrial and enterprise markets. With innovative solutions targeted at reliable and secure transmission of rapidly growing amounts of audio, video and data needed for today's applications, Belden is at the center of the global transformation to a connected world. Founded in 1902, the company is headquartered in St. Louis and has manufacturing capabilities in North America, Europe, Asia, and Africa. For more information, visit us at www.belden.com or follow us on Twitter @BeldenInc.
Contact:
Belden Investor Relations
314-854-8054
[email protected]
2
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".",
"1",
"For",
"a",
"more",
"complete",
"discussion",
"of",
"risk",
"factors",
",",
"please",
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"Annual",
"Report",
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"Form",
"10",
"-",
"K",
"for",
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",",
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".",
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",",
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"Deviations",
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"For",
"these",
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",",
"Belden",
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"to",
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"place",
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"reliance",
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"these",
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"looking",
"statements",
",",
"which",
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"Belden",
"disclaims",
"any",
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"-",
"looking",
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",",
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",",
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".",
"About",
"Belden",
"Belden",
"Inc",
".",
"delivers",
"a",
"comprehensive",
"product",
"portfolio",
"designed",
"to",
"meet",
"the",
"mission",
"-",
"critical",
"network",
"infrastructure",
"needs",
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"industrial",
"and",
"enterprise",
"markets",
".",
"With",
"innovative",
"solutions",
"targeted",
"at",
"reliable",
"and",
"secure",
"transmission",
"of",
"rapidly",
"growing",
"amounts",
"of",
"audio",
",",
"video",
"and",
"data",
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"today",
"'s",
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",",
"Belden",
"is",
"at",
"the",
"center",
"of",
"the",
"global",
"transformation",
"to",
"a",
"connected",
"world",
".",
"Founded",
"in",
"1902",
",",
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"company",
"is",
"headquartered",
"in",
"St",
".",
"Louis",
"and",
"has",
"manufacturing",
"capabilities",
"in",
"North",
"America",
",",
"Europe",
",",
"Asia",
",",
"and",
"Africa",
".",
"For",
"more",
"information",
",",
"visit",
"us",
"at",
"www.belden.com",
"or",
"follow",
"us",
"on",
"Twitter",
"@",
"BeldenInc",
".",
"Contact",
":",
"Belden",
"Investor",
"Relations",
"314",
"-",
"854",
"-",
"8054",
"[email protected]",
"2"
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] |
1294608-000119312507220332-dex991 | EX-99.1
3
dex991.htm
PRESS RELEASE
Press Release
Exhibit 99.1
For Immediate Release
SOLO CUP REDUCES DEBT BY MORE THAN $325 MILLION YEAR-TO-DATE
Company Closes Transactions and Announces Plans to
Consolidate Certain Operations
HIGHLAND PARK, Ill., October 16, 2007 - Solo Cup
Company (the "Company"), a leading provider of disposable foodservice products, today announced several transactions that will both reduce debt and continue to improve the Company's operating performance. First, the Company completed
the previously announced sale of its Hoffmaster
®
business. In addition, Solo has sold its uncoated white paper plate business. After applying net proceeds from these and previous
transactions to its term loan, the Company will have paid down more than $325 million so far this year. Lastly, the Company announced plans to close two facilities, taking advantage of improvements in manufacturing efficiencies gained through its
ongoing Performance Improvement Program.
Hoffmaster Sale Complete
A newly formed affiliate of Kohlberg & Company, LLC ("Kohlberg") has acquired all of the assets of the Company's Hoffmaster business for approximately $170 million. The transaction includes
Hoffmaster's product portfolio of disposable tableware and special occasions consumer products and associated manufacturing equipment, as well as two manufacturing facilities located in Oshkosh and Appleton, Wis., a distribution center located
in Indianapolis, Ind., and a sourcing subsidiary in Hong Kong.
Solo Exits Uncoated White Paper Plate Business
Solo also announced that it has sold its uncoated white paper plate business to AJM Packaging Corporation, a manufacturer of private label disposable paper foodservice
products.
"We made a strategic decision to exit this commodity product line. We remain very committed to our private label business where we can add
value for customers through our unique capabilities", said Robert M. Korzenski, CEO, Solo Cup Company. "We will focus our attention and investment in our decorated and coated white paper plate business, which we believe represents a
stronger growth opportunity for Solo".
"The sale of both the Hoffmaster and uncoated white paper plate businesses illustrates that the Company
is steadily executing its strategy to shed non-core assets in order to reduce debt and increase investment in businesses that truly differentiate Solo", Korzenski continued. "Including the sale-leaseback transaction completed earlier this
year, we have repaid more than $325 million already in 2007 - a remarkable achievement given our financial position just one year ago".
Leominster and Wheeling Facilities to be Closed
Solo also announced today that it intends to close manufacturing facilities in Leominster, Mass., and Wheeling, Ill., and shift production and employment to other manufacturing locations, including North Andover,
Mass., and Chicago, Ill. The Leominster and Wheeling plants are expected to close by December 31, 2007, and February 28, 2008, respectively. The costs associated with these facility closings are expected to be recovered in less than two
years.
"As a result of improved efficiencies across our asset base and the Company's SKU rationalization initiative, we have been able to
streamline our operations", said Peter J. Mendola, Solo's senior vice president of manufacturing. "These closures, which primarily affect our straw and cutlery product lines, will be managed to ensure no disruption to our customers.
Further, given the close proximity of other Solo facilities, we expect a number of our employees to remain with us. Regardless, it is always difficult to implement a decision that will cause disruption for our people. They work hard for us and we
are grateful for their service".
Solo Cup Company is a $2.5 billion company exclusively focused on the manufacture of disposable foodservice products
for the consumer/retail, foodservice and international markets. Solo has broad expertise in paper, plastic and foam disposables and creates brand name products under the Solo and Sweetheart names. The Company was established in 1936 and has a global
presence with facilities in Asia, Canada, Europe, Mexico, Panama and the United States. To learn more about the Company, visit www.solocup.com.
####
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that
involve risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements. Such statements are based on management's current reasonable and good faith expectations. A number of risks and
uncertainties could cause results to differ from forward-looking statements. These risks and uncertainties include, among others, effectively implementing the integrated performance improvement program and other initiatives designed to reduce cost
and improve operating efficiencies, the completion of the plant closures and efficiency gains described herein, the effect of general economic and competitive business conditions, increases in energy, raw material and other manufacturing costs, the
impact of our significant debt on our financial health and operating flexibility, and fluctuations in demand for the Company's products. For further details of these and other risks and uncertainties that may impact forward-looking statements
and the Company's business and financial results, see information set forth under the heading "Risk Factors" in our most recent Quarterly Report filing on Form 10-Q, our Annual Report on Form 10-K for the fiscal year ended
December 31, 2006, and in our other filings made from time to time with the SEC. The Company does not undertake any obligation to update or revise any forward-looking statements as a result of new information, future events, changed assumptions
or otherwise; and all forward-looking statements speak only as of the time when made.
Media Contacts:
Analyst Contact:
Angie Chaplin, 847-579-3503
Richard Ryan, 847-579-3603
Solo Cup Company
Solo Cup Company
[email protected]
[email protected]
2
| [
"EX",
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"line",
".",
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"capabilities",
"\"",
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"Korzenski",
",",
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"\"",
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"coated",
"white",
"paper",
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"which",
"we",
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"\"",
"The",
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"and",
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"white",
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"\"",
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"Leominster",
"and",
"Wheeling",
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"locations",
",",
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",",
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".",
",",
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"Wheeling",
"plants",
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"31",
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",",
"and",
"February",
"28",
",",
"2008",
",",
"respectively",
".",
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"with",
"these",
"facility",
"closings",
"are",
"expected",
"to",
"be",
"recovered",
"in",
"less",
"than",
"two",
"years",
".",
"\"",
"As",
"a",
"result",
"of",
"improved",
"efficiencies",
"across",
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"asset",
"base",
"and",
"the",
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"initiative",
",",
"we",
"have",
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"operations",
"\"",
",",
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"Peter",
"J",
".",
"Mendola",
",",
"Solo",
"'s",
"senior",
"vice",
"president",
"of",
"manufacturing",
".",
"\"",
"These",
"closures",
",",
"which",
"primarily",
"affect",
"our",
"straw",
"and",
"cutlery",
"product",
"lines",
",",
"will",
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"ensure",
"no",
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".",
"Further",
",",
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"close",
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"Solo",
"facilities",
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"we",
"expect",
"a",
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"our",
"employees",
"to",
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".",
"Regardless",
",",
"it",
"is",
"always",
"difficult",
"to",
"implement",
"a",
"decision",
"that",
"will",
"cause",
"disruption",
"for",
"our",
"people",
".",
"They",
"work",
"hard",
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"us",
"and",
"we",
"are",
"grateful",
"for",
"their",
"service",
"\"",
".",
"Solo",
"Cup",
"Company",
"is",
"a",
"$",
"2.5 billion",
"company",
"exclusively",
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"foodservice",
"products",
"for",
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"/",
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",",
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"a",
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"presence",
"with",
"facilities",
"in",
"Asia",
",",
"Canada",
",",
"Europe",
",",
"Mexico",
",",
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"and",
"the",
"United",
"States",
".",
"To",
"learn",
"more",
"about",
"the",
"Company",
",",
"visit",
"www.solocup.com",
".",
"#",
"#",
"#",
"#",
"This",
"press",
"release",
"may",
"contain",
"forward",
"-",
"looking",
"statements",
"within",
"the",
"meaning",
"of",
"the",
"Private",
"Securities",
"Litigation",
"Reform",
"Act",
"of",
"1995",
"that",
"involve",
"risks",
"and",
"uncertainties",
",",
"which",
"could",
"cause",
"actual",
"results",
"to",
"differ",
"materially",
"from",
"the",
"forward",
"-",
"looking",
"statements",
".",
"Such",
"statements",
"are",
"based",
"on",
"management",
"'s",
"current",
"reasonable",
"and",
"good",
"faith",
"expectations",
".",
"A",
"number",
"of",
"risks",
"and",
"uncertainties",
"could",
"cause",
"results",
"to",
"differ",
"from",
"forward",
"-",
"looking",
"statements",
".",
"These",
"risks",
"and",
"uncertainties",
"include",
",",
"among",
"others",
",",
"effectively",
"implementing",
"the",
"integrated",
"performance",
"improvement",
"program",
"and",
"other",
"initiatives",
"designed",
"to",
"reduce",
"cost",
"and",
"improve",
"operating",
"efficiencies",
",",
"the",
"completion",
"of",
"the",
"plant",
"closures",
"and",
"efficiency",
"gains",
"described",
"herein",
",",
"the",
"effect",
"of",
"general",
"economic",
"and",
"competitive",
"business",
"conditions",
",",
"increases",
"in",
"energy",
",",
"raw",
"material",
"and",
"other",
"manufacturing",
"costs",
",",
"the",
"impact",
"of",
"our",
"significant",
"debt",
"on",
"our",
"financial",
"health",
"and",
"operating",
"flexibility",
",",
"and",
"fluctuations",
"in",
"demand",
"for",
"the",
"Company",
"'s",
"products",
".",
"For",
"further",
"details",
"of",
"these",
"and",
"other",
"risks",
"and",
"uncertainties",
"that",
"may",
"impact",
"forward",
"-",
"looking",
"statements",
"and",
"the",
"Company",
"'",
"s",
"business",
"and",
"financial",
"results",
",",
"see",
"information",
"set",
"forth",
"under",
"the",
"heading",
"\"",
"Risk",
"Factors",
"\"",
"in",
"our",
"most",
"recent",
"Quarterly",
"Report",
"filing",
"on",
"Form",
"10",
"-",
"Q",
",",
"our",
"Annual",
"Report",
"on",
"Form",
"10",
"-",
"K",
"for",
"the",
"fiscal",
"year",
"ended",
"December",
"31",
",",
"2006",
",",
"and",
"in",
"our",
"other",
"filings",
"made",
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1226308-000110465915069680-a15-20780_1ex99d1 | EX-99.1
4
a15-20780_1ex99d1.htm
EX-99.1
Exhibit 99.1
DTS COMPLETES ACQUISITION OF IBIQUITY DIGITAL CORPORATION
CALABASAS, Calif.
, Oct. 5, 2015 (GLOBE NEWSWIRE) - DTS, Inc. (Nasdaq:DTSI), a leader in high-definition audio solutions and audio enhancement technologies, today announced it has completed the acquisition of iBiquity Digital Corporation for approximately $172 million. The acquisition, which was financed with a combination of cash on hand and debt, extends DTS' mission to deliver a personalized, immersive and compelling experience across the network-connected entertainment value chain.
iBiquity is the exclusive developer and licensor of HD Radio technology, the only FCC-approved method for upgrading AM/FM broadcasting from analog to digital. iBiquity's partners include leading automakers, consumer electronics and broadcast equipment manufacturers, radio broadcasters, semiconductor and electronic component manufacturers and retailers.
iBiquity has successfully driven penetration of HD Radio technology in the North American automotive OEM market. HD Radio technology was built into approximately 35% of cars sold in the U.S. in 2014, and DTS expects the majority of North American vehicles to come equipped with HD Radio technology over time. The combination is expected to provide opportunities for additional geographic, service and technology expansion and DTS anticipates that it will be accretive on a non-GAAP basis beginning in the first quarter of 2016.
"We are thrilled to bring together two companies focused on delivering the highest quality experiences across the digital entertainment spectrum", said Jon Kirchner, chairman and CEO of DTS. "This acquisition bolsters our prospects for attractive, long-term growth by increasing our footprint in the broadcast and automotive spaces and adding key IP and technology to our portfolio. We are pleased to welcome Bob Struble and the talented HD Radio team to the DTS family and look forward to working together to provide an even stronger suite of audio technology and experience solutions, whether home, mobile or auto".
Bob Struble will continue to lead the HD Radio business for DTS, which will remain based in Columbia, Maryland.
About DTS, Inc.
Since 1993, DTS, Inc. (Nasdaq:DTSI) has been dedicated to making the world sound better. Through its pioneering audio solutions for mobile devices, home theater systems, cinemas and beyond, DTS provides incredibly high-quality, immersive and engaging audio experiences to listeners everywhere. DTS technology is integrated in more than two billion devices globally, and the world's leading video and music streaming services are increasingly choosing DTS to deliver premium sound to their listeners' network-connected devices. For more information, please visit www.dts.com.
Investor Contact
DTS, Inc.
Geri Weinfeld
Director, Investor Relations
[email protected]
1
(818) 436-1231
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause DTS' results to differ materially from historical results or those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "planned", "expects", "believes", "intends", "strategy", "opportunity", "anticipates" and similar words. These statements may include, among others, the benefits of the transaction involving DTS and iBiquity, including future financial and operating results, the combined company's plans, objectives, expectations and intentions, the anticipated opportunities for additional geographic, service and technology expansion and any statements of assumptions underlying any of the foregoing.
All statements that address operating performance, events or developments that we expect or anticipate will occur in the future - including statements relating to the increasing availability of HD Radio receivers in new vehicles, opportunities for additional geographic, service and technology expansion, and integrating our companies - are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. For example, these forward-looking statements could be affected by factors including, without limitation:
· the possibility that the combined company may be adversely affected by economic, business and/or competitive factors;
· the availability of HD Radio receivers in new vehicles;
· the ability to successfully complete the integration of the business being acquired from iBiquity by, among other things, realizing revenue, expense and other synergies, renewing contracts on competitive terms, successfully leveraging the information technology platform of the acquired business, and retaining key personnel; and
· any adverse effect to the combined company due to uncertainty relating to the transaction.
This list of important factors is not intended to be exhaustive. Additional risks and factors are discussed in reports filed with the Securities and Exchange Commission ("SEC") by DTS from time to time, including those discussed under the heading "Risk Factors" in its most recently filed reports on Form 10-K and 10-Q. DTS assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Readers are urged not to place undue reliance on these forward looking statements, which speak only as of the date of this press release. DTS does not intend to update any forward-looking statement contained in this press release to reflect events or circumstances arising after the date hereof.
DTS-I
###
2
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".",
"iBiquity",
"has",
"successfully",
"driven",
"penetration",
"of",
"HD",
"Radio",
"technology",
"in",
"the",
"North",
"American",
"automotive",
"OEM",
"market",
".",
"HD",
"Radio",
"technology",
"was",
"built",
"into",
"approximately",
"35",
"%",
"of",
"cars",
"sold",
"in",
"the",
"U",
".",
"S",
".",
"in",
"2014",
",",
"and",
"DTS",
"expects",
"the",
"majority",
"of",
"North",
"American",
"vehicles",
"to",
"come",
"equipped",
"with",
"HD",
"Radio",
"technology",
"over",
"time",
".",
"The",
"combination",
"is",
"expected",
"to",
"provide",
"opportunities",
"for",
"additional",
"geographic",
",",
"service",
"and",
"technology",
"expansion",
"and",
"DTS",
"anticipates",
"that",
"it",
"will",
"be",
"accretive",
"on",
"a",
"non",
"-",
"GAAP",
"basis",
"beginning",
"in",
"the",
"first",
"quarter",
"of",
"2016",
".",
"\"",
"We",
"are",
"thrilled",
"to",
"bring",
"together",
"two",
"companies",
"focused",
"on",
"delivering",
"the",
"highest",
"quality",
"experiences",
"across",
"the",
"digital",
"entertainment",
"spectrum",
"\"",
",",
"said",
"Jon",
"Kirchner",
",",
"chairman",
"and",
"CEO",
"of",
"DTS",
".",
"\"",
"This",
"acquisition",
"bolsters",
"our",
"prospects",
"for",
"attractive",
",",
"long",
"-",
"term",
"growth",
"by",
"increasing",
"our",
"footprint",
"in",
"the",
"broadcast",
"and",
"automotive",
"spaces",
"and",
"adding",
"key",
"IP",
"and",
"technology",
"to",
"our",
"portfolio",
".",
"We",
"are",
"pleased",
"to",
"welcome",
"Bob",
"Struble",
"and",
"the",
"talented",
"HD",
"Radio",
"team",
"to",
"the",
"DTS",
"family",
"and",
"look",
"forward",
"to",
"working",
"together",
"to",
"provide",
"an",
"even",
"stronger",
"suite",
"of",
"audio",
"technology",
"and",
"experience",
"solutions",
",",
"whether",
"home",
",",
"mobile",
"or",
"auto",
"\"",
".",
"Bob",
"Struble",
"will",
"continue",
"to",
"lead",
"the",
"HD",
"Radio",
"business",
"for",
"DTS",
",",
"which",
"will",
"remain",
"based",
"in",
"Columbia",
",",
"Maryland",
".",
"About",
"DTS",
",",
"Inc",
".",
"Since",
"1993",
",",
"DTS",
",",
"Inc",
".",
"(",
"Nasdaq",
":",
"DTSI",
")",
"has",
"been",
"dedicated",
"to",
"making",
"the",
"world",
"sound",
"better",
".",
"Through",
"its",
"pioneering",
"audio",
"solutions",
"for",
"mobile",
"devices",
",",
"home",
"theater",
"systems",
",",
"cinemas",
"and",
"beyond",
",",
"DTS",
"provides",
"incredibly",
"high",
"-",
"quality",
",",
"immersive",
"and",
"engaging",
"audio",
"experiences",
"to",
"listeners",
"everywhere",
".",
"DTS",
"technology",
"is",
"integrated",
"in",
"more",
"than",
"two",
"billion",
"devices",
"globally",
",",
"and",
"the",
"world",
"'s",
"leading",
"video",
"and",
"music",
"streaming",
"services",
"are",
"increasingly",
"choosing",
"DTS",
"to",
"deliver",
"premium",
"sound",
"to",
"their",
"listeners",
"'",
"network",
"-",
"connected",
"devices",
".",
"For",
"more",
"information",
",",
"please",
"visit",
"www.dts.com",
".",
"Investor",
"Contact",
"DTS",
",",
"Inc",
".",
"Geri",
"Weinfeld",
"Director",
",",
"Investor",
"Relations",
"[email protected]",
"1",
"(",
"818",
")",
"436",
"-",
"1231",
"Forward",
"-",
"Looking",
"Statements",
"This",
"press",
"release",
"contains",
"forward",
"-",
"looking",
"statements",
"within",
"the",
"meaning",
"of",
"the",
"Private",
"Securities",
"Litigation",
"Reform",
"Act",
"of",
"1995",
"that",
"involve",
"risks",
",",
"uncertainties",
",",
"assumptions",
"and",
"other",
"factors",
"which",
",",
"if",
"they",
"do",
"not",
"materialize",
"or",
"prove",
"correct",
",",
"could",
"cause",
"DTS",
"'",
"results",
"to",
"differ",
"materially",
"from",
"historical",
"results",
"or",
"those",
"expressed",
"or",
"implied",
"by",
"such",
"forward",
"-",
"looking",
"statements",
".",
"All",
"statements",
",",
"other",
"than",
"statements",
"of",
"historical",
"fact",
",",
"are",
"statements",
"that",
"could",
"be",
"deemed",
"forward",
"-",
"looking",
"statements",
",",
"including",
"statements",
"containing",
"the",
"words",
"\"",
"planned",
"\"",
",",
"\"",
"expects",
"\"",
",",
"\"",
"believes",
"\"",
",",
"\"",
"intends",
"\"",
",",
"\"",
"strategy",
"\"",
",",
"\"",
"opportunity",
"\"",
",",
"\"",
"anticipates",
"\"",
"and",
"similar",
"words",
".",
"These",
"statements",
"may",
"include",
",",
"among",
"others",
",",
"the",
"benefits",
"of",
"the",
"transaction",
"involving",
"DTS",
"and",
"iBiquity",
",",
"including",
"future",
"financial",
"and",
"operating",
"results",
",",
"the",
"combined",
"company",
"'s",
"plans",
",",
"objectives",
",",
"expectations",
"and",
"intentions",
",",
"the",
"anticipated",
"opportunities",
"for",
"additional",
"geographic",
",",
"service",
"and",
"technology",
"expansion",
"and",
"any",
"statements",
"of",
"assumptions",
"underlying",
"any",
"of",
"the",
"foregoing",
".",
"All",
"statements",
"that",
"address",
"operating",
"performance",
",",
"events",
"or",
"developments",
"that",
"we",
"expect",
"or",
"anticipate",
"will",
"occur",
"in",
"the",
"future",
"-",
"including",
"statements",
"relating",
"to",
"the",
"increasing",
"availability",
"of",
"HD",
"Radio",
"receivers",
"in",
"new",
"vehicles",
",",
"opportunities",
"for",
"additional",
"geographic",
",",
"service",
"and",
"technology",
"expansion",
",",
"and",
"integrating",
"our",
"companies",
"-",
"are",
"forward",
"-",
"looking",
"statements",
".",
"These",
"statements",
"are",
"not",
"guarantees",
"of",
"future",
"performance",
"and",
"involve",
"certain",
"risks",
",",
"uncertainties",
"and",
"assumptions",
"that",
"are",
"difficult",
"to",
"predict",
".",
"Although",
"we",
"believe",
"the",
"expectations",
"reflected",
"in",
"any",
"forward",
"-",
"looking",
"statements",
"are",
"based",
"on",
"reasonable",
"assumptions",
",",
"we",
"can",
"give",
"no",
"assurance",
"that",
"our",
"expectations",
"will",
"be",
"attained",
"and",
"therefore",
",",
"actual",
"outcomes",
"and",
"results",
"may",
"differ",
"materially",
"from",
"what",
"is",
"expressed",
"or",
"forecasted",
"in",
"such",
"forward",
"-",
"looking",
"statements",
".",
"For",
"example",
",",
"these",
"forward",
"-",
"looking",
"statements",
"could",
"be",
"affected",
"by",
"factors",
"including",
",",
"without",
"limitation",
":",
"·",
"the",
"possibility",
"that",
"the",
"combined",
"company",
"may",
"be",
"adversely",
"affected",
"by",
"economic",
",",
"business",
"and",
"/",
"or",
"competitive",
"factors",
";",
"·",
"the",
"availability",
"of",
"HD",
"Radio",
"receivers",
"in",
"new",
"vehicles",
";",
"·",
"the",
"ability",
"to",
"successfully",
"complete",
"the",
"integration",
"of",
"the",
"business",
"being",
"acquired",
"from",
"iBiquity",
"by",
",",
"among",
"other",
"things",
",",
"realizing",
"revenue",
",",
"expense",
"and",
"other",
"synergies",
",",
"renewing",
"contracts",
"on",
"competitive",
"terms",
",",
"successfully",
"leveraging",
"the",
"information",
"technology",
"platform",
"of",
"the",
"acquired",
"business",
",",
"and",
"retaining",
"key",
"personnel",
";",
"and",
"·",
"any",
"adverse",
"effect",
"to",
"the",
"combined",
"company",
"due",
"to",
"uncertainty",
"relating",
"to",
"the",
"transaction",
".",
"This",
"list",
"of",
"important",
"factors",
"is",
"not",
"intended",
"to",
"be",
"exhaustive",
".",
"Additional",
"risks",
"and",
"factors",
"are",
"discussed",
"in",
"reports",
"filed",
"with",
"the",
"Securities",
"and",
"Exchange",
"Commission",
"(",
"\"",
"SEC",
"\"",
")",
"by",
"DTS",
"from",
"time",
"to",
"time",
",",
"including",
"those",
"discussed",
"under",
"the",
"heading",
"\"",
"Risk",
"Factors",
"\"",
"in",
"its",
"most",
"recently",
"filed",
"reports",
"on",
"Form",
"10",
"-",
"K",
"and",
"10",
"-",
"Q",
".",
"DTS",
"assumes",
"no",
"obligation",
"to",
"update",
"any",
"forward",
"-",
"looking",
"statements",
",",
"whether",
"as",
"a",
"result",
"of",
"new",
"information",
",",
"future",
"events",
"or",
"otherwise",
",",
"except",
"as",
"required",
"by",
"law",
".",
"Readers",
"are",
"urged",
"not",
"to",
"place",
"undue",
"reliance",
"on",
"these",
"forward",
"looking",
"statements",
",",
"which",
"speak",
"only",
"as",
"of",
"the",
"date",
"of",
"this",
"press",
"release",
".",
"DTS",
"does",
"not",
"intend",
"to",
"update",
"any",
"forward",
"-",
"looking",
"statement",
"contained",
"in",
"this",
"press",
"release",
"to",
"reflect",
"events",
"or",
"circumstances",
"arising",
"after",
"the",
"date",
"hereof",
".",
"DTS",
"-",
"I",
"#",
"#",
"#",
"2"
] | [
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"B-Parties.BUYING_COMPANY",
"O",
"O",
"O",
"B-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"B-Parties.BUYING_COMPANY",
"I-Parties.BUYING_COMPANY",
"I-Parties.BUYING_COMPANY",
"I-Parties.BUYING_COMPANY",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"B-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
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"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
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"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
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"O",
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"O",
"O",
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1171014-000091412110001112-co19351315-ex99_1 | EX-99.1
3
co19351315-ex99_1.htm
PRESS RELEASE
co19351315-ex99_1.htm
EXHIBIT 99.1
CONTACT:
William Koziel
(847) 597-8800
Così, Inc. Announces New Franchisee For The D. C. Market
DEERFIELD, IL - April 27, 2010 - Cos
ì
, Inc. (NASDAQ: COSI), the premium convenience restaurant company, today announced that it has sold thirteen restaurants in the Washington D. C. market to Capitol C Restaurants LLC ("Capitol C") for $8.4 million. The restaurants will be operated under a franchise agreement between the parties and Capitol C has entered into a development agreement to open six additional Cos
ì
restaurants in the District of Columbia. Capitol C is led by Richard Pawlowski, Principal and Chief Executive Officer. Mr. Pawlowski is an experienced multi-unit restaurant operator and developer in the D. C. market.
Under the terms of the Asset Purchase and Sale Agreement, $6.4 million of the purchase price was paid in cash at closing, $1.4 million is to be paid pursuant to a three-year note and the balance of $0.6 million is being held in escrow subject to the satisfaction of certain conditions.
"We are pleased to have a franchisee of Richard's caliber join the Cos
ì
system", said James Hyatt, Cos
ì
's President and Chief Executive Officer. "He is a seasoned operator and developer who fully understands the D.C. market. He aligns perfectly with the profile of our ideal franchisee. As we continue to operate 11 company-owned restaurants in the greater Washington D. C. area, we look forward to working together with Richard and his team to further develop the brand in this market".
"Cos
ì
is an exciting concept with delicious food, innovative menu offerings and a great casual ambience" stated Pawlowski. "We look forward to working collaboratively with Cos
ì
to expand the brand in the D. C. market".
Mr. Hyatt further commented, "This transaction fits our strategic plan of expanding the brand by assembling experienced operators with proven abilities to develop new restaurants and providing them with quality development area opportunities. Capitol C's joining the Cos
ì
family demonstrates our ability to attract the finest quality franchisees and reinforces our conviction in the brand and its potential. In addition, this transaction will provide us with additional capital to stimulate revenue growth, support franchisee growth, selectively develop company-owned stores and otherwise enhance stockholder value".
About Così, Inc.
Così (http://www.getcosi.com) is a national premium convenience restaurant chain that has developed featured foods built around a secret, generations-old recipe for crackly crust flatbread. This artisan bread is freshly baked in front of customers throughout the day in open flame stone hearth ovens prominently located in each of the restaurants. Così's warm and urbane atmosphere is geared towards its sophisticated, upscale, urban and suburban guests. There are currently 99 Company-owned and 44 franchise restaurants operating in eighteen states, the District of Columbia and the United Arab Emirates. The Così vision is to become America's favorite premium convenience restaurant by providing customers authentic, innovative, savory food while remaining an affordable luxury.
The Così menu features Così sandwiches, freshly-tossed salads, melts, soups, Così bagels, flatbread pizzas, S'mores, snacks and other desserts, and a wide range of coffee and coffee-based drinks and other specialty beverages. Così restaurants are designed to be welcoming and comfortable with an eclectic environment. Così's sights, sounds, and spaces create a tasteful, relaxed ambience that provides a fresh and new dining experience.
"Così", and "(Sun & Moon Design)", and related marks are registered trademarks of Così, Inc.
Copyright © 2010 Così, Inc. All rights reserved.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. This press release contains statements that constitute forward- looking statements under the federal securities laws. Forward-looking statements are statements about future events and expectations and not statements of historical fact. The words "believe", "may", "will", "should", "anticipate", "estimate", "expect", "intend", "objective", "seek", "plan", "strive", or similar words, or negatives of these words, identify forward- looking statements. We qualify any forward-looking statements entirely by these cautionary factors. Forward-looking statements are based on management's beliefs, assumptions and expectations of our future economic performance, taking into account the information currently available to management. Forward-looking statements involve risks and uncertainties that may cause our actual results, performance or financial condition to differ materially from the expectations of future results, performance or financial condition we express or imply in any forward-looking statements. Factors that could contribute to these differences include, but are not limited to: the cost of our principal food products and supply and delivery shortages or interruptions; labor shortages or increased labor costs; changes in consumer preferences and demographic trends; expansion into new markets including foreign markets; our ability to locate suitable restaurant sites in new and existing markets and negotiate acceptable lease terms; competition in our markets, both in our business and in locating suitable restaurant sites; our operation and execution in new and existing markets; our ability to recruit, train and retain qualified corporate and restaurant personnel and management; cost effective and timely planning, design and build-out of restaurants; our ability to attract and retain qualified franchisees; the availability and cost of additional financing, both to fund our existing operations and to open new restaurants; the rate of our internal growth and our ability to generate increased revenue from our existing restaurants; our ability to generate positive cash flow from existing and new restaurants; the reliability of our customer and market studies; fluctuations in our quarterly results due to seasonality; increased government regulation and our ability to secure required governmental approvals and permits; our ability to create customer awareness of our restaurants in new markets; market saturation due to new restaurant openings; inadequate protection of our intellectual property; adverse weather conditions which impact customer traffic at our restaurants and adverse economic conditions. Further information regarding factors that could affect our results and the statements made herein are included in our filings with the Securities and Exchange Commission.
Additional information is available on Così's website at
http://www.getcosi.com in the investor relations section.
| [
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1331301-000114420412037712-v317508_ex99-1 | EX-99.1
5
v317508_ex99-1.htm
EXHIBIT 99.1
Smart Balance Completes Acquisition of
Udi's Healthy Foods, LLC
Closes New Senior Secured Credit Facility
Expected to Accelerate Organic Growth
Rate & Diversify Mix to Natural Brands
Paramus, N.J. (July 2, 2012)
- Smart Balance, Inc.
(NasdaqGM: SMBL) today announced it completed its previously announced acquisition of Udi's Healthy Foods, LLC (Udi's)
for $125 million in cash from majority unit holder Hubson Acquisition, LLC, an affiliate of E&A Industries based in Indianapolis,
the family of founder Udi Bar-on, and other minority unit holders. Total consideration, including transaction fees and other ordinary
related adjustments, was approximately $126 million in cash, subject to a final working capital adjustment.
The acquisition, as well as the refinancing of existing outstanding
debt, was financed with the proceeds of a new $280 million senior secured credit facility. The facility, which has an overall effective
interest rate of approximately 7.5% is comprised of a $240 million term loan scheduled to mature in July of 2018 and a $40 million
revolving credit facility scheduled to mature on June 30, 2017. As of the close of the transaction, the Company's net debt
is approximately $237 million.
The credit agreement, which includes the specific terms and
covenants governing the Company's credit facility, will be included in a Current Report on Form 8-K to be filed by the Company
with the Securities and Exchange Commission.
Commenting on the announcement, Chairman and Chief Executive
Officer Stephen Hughes stated, "We are excited to include Udi's Healthy Foods in our portfolio of health and wellness
brands and believe this transaction to be transformational to our company, as it positions Smart Balance as a leader in gluten-free,
accelerates our growth rate, and further diversifies our mix toward high-growth natural brands. As a result, we expect the Company's
organic revenue growth rate to accelerate, and we look forward to providing our initial outlook on Udi's in connection with
our second quarter call on August 2, 2012".
BMO Capital Markets and Citigroup acted as joint-lead arrangers
in financing the transaction.
The Company granted option awards for a total of 957,500 shares
of common stock to 65 of Udi's employees as an inducement to join the Company in connection with the acquisition. The awards
were granted under a newly adopted Smart Balance, Inc. 2012 Inducement Award Plan. The options have a ten year term and an exercise
price equal to the fair market value of Company common stock on the date of grant. The options vest in four equal annual installments
beginning on July 2, 2013, the first anniversary of the grant date.
1
Forward-looking Statements
Statements made in this press release that are not historical
facts, including statements about the Company's plans, strategies, beliefs and expectations, are forward-looking and subject
to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may include use of the
words "expect", "anticipate", "plan", "intend", "project", "may",
"believe" and similar expressions. Forward-looking statements speak only as of the date they are made, and, except
for the Company's ongoing obligations under the U.S. federal securities laws, the Company undertakes no obligation to publicly
update any forward-looking statement, whether to reflect actual results of operations, changes in financial condition, changes
in general economic or business conditions, changes in estimates, expectations or assumptions, or circumstances or events arising
after the issuance of this press release. Actual results may differ materially from such forward-looking statements for a number
of reasons, including (i) the Company's ability to: maintain and grow those revenues derived from our Smart Balance®
buttery spread products from which we generate a substantial portion of our revenues; maintain margins during periods of commodity
cost fluctuations; introduce and expand distribution of our new products; meet marketing and infrastructure needs; respond to changes
in consumer demand; respond to adverse publicity affecting the Company or industry; maintain our performance during difficult economic
conditions; comply with regulatory requirements; maintain existing relationships with and secure new customers; continue to rely
on third party distributors, manufacturers and suppliers; successfully integrate and operate the Glutino business and realize the
expected benefits of the Glutino acquisition; operate outside of the U.S.; successfully maintain relationships with the co-packers
for our Glutino® and Gluten-Free Pantry® products; grow net sales in a competitive environment and with increasingly price
sensitive consumers; and maintain volume in light of price increases stemming from rises in commodity costs; (ii) the Company's
ability to successfully integrate and operate the Udi's business and realize the expected benefits of the Udi's acquisition;
potential changes to future tax rates; unexpected costs, charges, liabilities, or expenses resulting from the transaction; potential
adverse reactions or changes in business relationships resulting from the transaction; and the possibility that Udi's growth may
occur at a rate less than the Company anticipates; and (iii) those other risks and uncertainties set forth in the Company's
filings with the SEC.
About Smart Balance, Inc.
Smart Balance, Inc. (NasdaqGM: SMBL) is committed to providing superior tasting, solution-driven products in every category
it enters. The Company's health and wellness platform consists of four brands that target specific consumer needs:
Smart Balance for heart healthier diets; Glutino and Udi's for gluten-free diets; Earth Balance for plant-based diets; and
Bestlife for weight management. The Company markets the Smart Balance line of products, which avoids trans-fats naturally
and balances fats and/or reduces saturated fats, such as Smart Balance
®
Buttery Spreads and Enhanced Milks.
The Company's Glutino and Udi's brands are trusted pioneers and leaders in the gluten-free category, with a wide variety
of great-tasting gluten-free foods consumers trust across a number of product categories, such as Glutino
®
Pretzel
Twists and Breakfast Bars and Udi's Gluten Free Breads. The Company markets the Earth Balance line of non-GMO
plant-based products, which include Earth Balance
®
Buttery Spreads, Nut Butters and Soy Milks. The Company
also markets weight management products under the Bestlife brand, which include Bestlife™ Buttery Spreads and Sticks.
For more information about Smart Balance, Inc., please visit www.smartbalance.com
.
2
About Udi's Healthy Foods, LLC
Udi's Healthy Foods LLC (Udi's) is a leader in the
fast growing market for gluten-free foods in North America. Udi's markets a diversified and growing range of gluten-free
products under the well recognized Udi's Gluten Free Foods brand in the retail market, and since mid-2011, food service channels.
Udi's Gluten Free Foods is a leading brand in gluten-free bread and bakery products. In addition, Udi's markets other
gluten-free products in the frozen pizza and granola categories.
Media Contact:
Investor Contact:
Brent Burkhardt
Carole Buyers, CFA
TBC Public Relations
Senior Vice President Investor Relations
[email protected]
& Business Development
410-986-1303
Smart Balance, Inc.
[email protected]
303-652-0521 x152
3
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27960-000095015911000619-ex99-2 | EX-99.2
3
ex99-2.htm
QSGI ACQUIRES CERTAIN ASSETS OF THE GASKET GUY INC
Unassociated Document
Contact:
David Meynarez
CFO
QSGI, Inc.
561-629-5713
[email protected]
[Missing Graphic Reference]
QSGI Acquires Certain Assets of The Gasket Guy, Inc.; Acquisition Expands QSGI's
Service Offerings to Include Energy Saving Technologies
Palm Beach, FL-September 21, 2011-QSGI INC. (Pink Sheets: QSGI)
today announced that its wholly owned subsidiary, QSGI Green, Inc. has acquired certain assets of The Gasket Guy, Inc. and its related operations. The acquisition will represent 100% of QSGI Green's operations and financial results going forward. The Gasket Guy, Inc. is a leading provider of replacement gaskets for refrigeration units that provide significant energy savings for restaurants, hotels, supermarkets, fast-food chains, and other businesses nationwide. QSGI Green acquired The Gasket Guy, Inc. through an asset purchase agreement for the company's operating assets. The agreement consists of a subordinated seller's note not to exceed $412,500 maturing no later than December 5, 2016 and bears interest at a rate of 7.5% annually, an agreement by QSGI to collect approximately $725,000 of The Gasket Guy's accounts receivables to be used to satisfy existing bank debt for which the assets serve as collateral, as well as an earn-out based on QSGI Green achieving profit milestones over the next five years.
The Gasket Guy, Inc. generated revenues in excess of $2.5 million and achieved a fifteen percent net profit margin over the trailing twelve months ended June 30, 2011 based on unaudited financials. The Gasket Guy has added more than 10,000 customers and has achieved over 50 % compound annual growth rate over the past 3 years.
The Gasket Guy, Inc. manufactures replacement refrigeration gaskets to fit any commercial refrigeration unit including refrigerators, coolers, and walk-in units. Additionally they have a full line of refrigeration replacement parts including strip curtains, night shades, door handles and hinges. Leaking gaskets waste energy and cause excessive wear on refrigeration equipment. By providing factory-new replacement gaskets, The Gasket Guy helps customers save energy, money and the environment. While fitted gaskets generate their own return on investment (ROI), energy companies in many regions provide rebates and incentives programs to encourage customers to invest in energy saving improvements. The Gasket Guy has successfully worked with numerous utility companies under these incentive programs to reduce energy costs.
The Gasket Guy operates four units: The Gasket Guy (
www.TheGasketGuy.com
), Green Energy Masters (
www.GreenEnergyMasters.com)
, Top Refrigeration Parts (
www.Top-Refrigeration-Parts.com)
, and 1-877-Gaskets (
www.1877Gaskets.com)
. These segments provide a variety of services including direct installation services, manufacturer supply parts to other refrigeration companies, refrigeration parts supplied by mail, and e-commerce.
Marc Sherman, Chairman and CEO of QSGI Inc., explained, "Our acquisition of The Gasket Guy, Inc. adds a new element to our service offerings and represents a potential growth opportunity. Traditionally, our business has been focused on the re-use and recycling of technology. With the addition of this business, we can now offer customers the ability to reduce energy consumption as well. The Gasket Guy has a very compelling value proposition for customers. First, by providing new replacement gaskets, we can show an immediate and measurable ROI in the form of energy savings for customers. Second, many of the leading energy companies have begun to provide rebates and incentives to encourage customers to utilize our services. We welcome the management team of The Gasket Guy, including Moshe Schneider, and Avner Harel, who will run the sales and operations of QSGI Green, and will play an important role in the growth of QSGI Green in the years ahead".
Mr. Sherman concluded, "The traditional waste hierarchy is most often illustrated as a triangle whose three sides are comprised of Reduce, ReUse, and Recycle. QSGI Green, Inc. helps customers reduce their use of electricity and the fossil fuels that generate it. KruseCom enables customers to reuse or remarket their surplus technology equipment, while JoesScrap.com provides a way for customers to recycle their surplus electronic gear at the end-of-lifecycle. With this transaction, we now provide all three key elements of the environmental triangle, and plan to build in all three of these segments"
About QSGI, Inc.
QSGI, Inc. specializes in green technology, technology asset management, new product sales, used product remarketing, enterprise maintenance, spare parts sales, end of lifecycle management, hard drive destruction and data erasure, fee-based e-waste disposal, and green recycling. Providing a spectrum of technology products and services, QSGI creates a marketplace that enables environmentally friendly I.T. transactions between Fortune 500 corporations, original equipment manufacturers, leasing companies, privately held businesses, and even individual consumers. QSGI's mission is to continue developing new services that add value for its customers and shareholders.
Forward-Looking Statements
Statements in this release that are not strictly historical in nature constitute "forward-looking statements." Such statements may include, without limitation, statements with respect to the Company's plans, objectives, expectations and intentions, and other statements identified by words such as "may", "could", "would", "should", "believes", "expects", "anticipates", "estimates", "intends", "plans", or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results of QSGI to be materially different from historical results or from any results expressed or implied by such forward-looking statements. These factors include, but are not limited to, risks and uncertainties related to the progress, timing, cost, and results of mergers, acquisitions, and operations; competition from other technology companies; and the additional risks discussed in filings with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by this cautionary statement, and QSGI undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof. The company names used in this statement are for identification purposes only. All trademarks and registered trademarks are the property of their respective owners.
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1410567-000118143109040829-rrd251403_29477 | EX-99.1
2
rrd251403_29477.htm
PRESS RELEASE
DC7335.pdf -- Converted by SEC Publisher 4.2, created by BCL Technologies Inc., for SEC Filing
STRATEGIC STORAGE TRUST, INC. ENTERS NEW MARKET; ACQUIRES SELF STORAGE FACILITY FOR $11.6 MILLION IN AN ALL CASH TRANSACTION
JERSEY CITY, N.J.
-August 24, 2009-In an effort to expand its presence to the Northeast market, Strategic Storage Trust, Inc. (SSTI)
today announced the purchase of the U Store It self storage property located at 69 Mallory Avenue in Jersey City, NJ. The publicly registered, non-traded REIT acquired this facility for $11.625 million in an all cash transaction.
Constructed in 1985, the U Store It property offers approximately 1,090 units located on 2.2 acres and contains approximately 91,500 rentable square feet of self storage space. The
facility is located approximately five miles west of downtown New York City.
"We're excited to take another step in further diversifying and expanding our self storage portfolio", said H. Michael Schwartz, SSTI's chairman and CEO. "This all
cash transaction represents the expansion of the SSTI footprint into the largest MSA in the U.S. and diversifies our portfolio by adding a facility located in a populous Northeast urban market".
With its highly-developed network of roads, rail, air and seaport facilities, New Jersey is one of the best-connected regions in the country. This prime location, adjoined by New York City
and Philadelphia, sits in the center of the East Coast corridor. New Jersey's integrated commuter rail network carries more than 830,000 passengers each weekday, providing links to Amtrak, the Long Island railroad, NYC subways and
Pennsylvania's SEPTA system.
"Although we are seeing some signs of revival in the credit markets, the ability to complete all cash transactions is providing us a clear advantage in our pursuit of
acquisitions", said Schwartz.
Since the launch of the REIT a year and half ago, the portfolio has expanded to include 11 self storage facilities located in six states (Georgia, Mississippi, Florida, Virginia, New
Jersey and Kentucky). Despite the current challenging economic market, SSTI continues to uncover quality acquisitions across the United States.
About Strategic Storage Trust, Inc.
SSTI is a publicly registered ($1 billion of common stock registered) non-traded REIT with a portfolio that currently includes more than 5,780 self storage units and 725,670 rentable square feet of storage
space. SSTI's sponsor is Strategic Capital Holdings, which manages a growing portfolio of over 5.5 million square feet of commercial properties, including 3.9 million square feet of self storage facilities, with a combined market value of over
$608 million.
The New Jersey property will be rebranded under Storage Advantage and will be added to the sponsor's nationwide website: www.strategicselfstorage.com.
For more information about SSTI, please call 949-429-6600 or visit www.strategicstoragetrust.com.
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such
forward-looking statements can generally be identified by our use of forward-looking terminology such as "may", "will", "expect", "intend", "anticipate", "estimate", "believe,"
"continue", or other similar words. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or
implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to: uncertainties relating to changes in general economic and real estate conditions; uncertainties relating to the implementation
of our real estate investment strategy; uncertainties relating to financing availability and capital proceeds; uncertainties relating to the closing of property acquisitions; uncertainties relating to the public offering of our common stock;
uncertainties related to the timing and availability of distributions; and other risk factors as outlined in the Company's prospectus, as amended from time to time. This is neither an offer nor a solicitation to purchase securities.
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1035354-000114420417064924-tv481837_ex99-2 | EX-99.2
11
tv481837_ex99-2.htm
EXHIBIT 99.2
Exhibit 99.2
Eloxx Pharmaceuticals
Completes Acquisition Transaction with Sevion Therapeutics
Company to focus on advancing
the clinical development of ELX-02, a disease-modifying therapy for genetic diseases caused by nonsense mutations
Waltham, MA, Rehovot,
Israel, and San Diego, CA - December 20, 2017 -
Eloxx Pharmaceuticals Ltd. ("Eloxx")
and Sevion Therapeutics, Inc. (OTCQB: SVON) ("Sevion") today announced the two companies have completed their
previously announced acquisition transaction effective as of December 19, 2017. The Company will be known as Eloxx Pharmaceuticals,
Inc. following the completion of the transaction, and began trading on OTCQB Market under the new name effective as of December
20, 2017.
"This acquisition
transaction marks a significant milestone as Eloxx transitions from a private to a publicly-traded company with significantly increased
financial resources", said Silvia Noiman, Ph.D., MBA, founder and Chief Executive Officer of Eloxx Pharmaceuticals. "We
are now better positioned to advance our development programs and look forward to initiating multiple Phase 2 studies for ELX-02.
In parallel, we intend to strengthen our company on all fronts and, most recently, we hired several key employees to support this
effort."
At the effective time of
the transaction, all of the issued and outstanding ordinary and preferred shares of Eloxx stock were converted, on a pro rata basis,
into the right to receive 20,316,656 shares of Sevion common stock, par value $0.01, after giving effect to the 1-for-20 reverse
stock split. Following the reverse stock split and acquisition, the combined company has approximately 27.6 million shares outstanding.
About
Eloxx Pharmaceuticals
Eloxx
Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company developing novel small molecule medicines to treat many rare
and ultra-rare genetic diseases caused by nonsense mutations. Nonsense mutations are a class of genetic defects that result in
premature termination of protein synthesis. As a consequence, patients with a genetic disease caused by nonsense mutations have
absent or truncated nonfunctional proteins, accounting for some of the most severe phenotypes in these genetic diseases. Eloxx's
lead product candidate, ELX-02, is an optimized aminoglycoside designed to restore full-length functional proteins. Eloxx was founded
in 2013 and maintains offices in Waltham, MA, and Rehovot, Israel.
Forward-Looking Statements
Certain
statements included in this press release are forward-looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995 and involve a number of risks and uncertainties. All statements that address activities, events or developments
that we intend, expect or believe may occur in the future are forward-looking statements. Actual results could differ materially
from such statements expressed or implied herein as a result of a variety of factors, including, but not limited to: the Company's
ability to continue as a going concern; the ability of the Company to consummate additional financings; the development of the
Company's antibody technology; the approval of the Company's patent applications; the Company's ability to successfully
defend its intellectual property or obtain the necessary licenses at a cost acceptable to the Company, if at all; the successful
implementation of the Company's research and development programs and collaborations; the success of the Company's
license agreements; the acceptance by the market of the Company's products; the timing and success of the Company's
preliminary studies, preclinical research and clinical trials; competition and the timing of projects and trends in future operating
performance; and the quotation of the Company's common stock on an over-the-counter securities market, as well as other factors
expressed from time to time in the Company's periodic filings with the Securities and Exchange Commission (the "SEC").
As a result, this press release should be read in conjunction with the Company's periodic filings with the SEC. The forward-looking
statements contained herein are made only as of the date of this press release, and the Company undertakes no obligation to publicly
update or revise such forward-looking statements to reflect subsequent events or circumstances.
Contacts:
Eloxx Pharmaceuticals
Greg Weaver, CFO
[email protected]
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"Greg",
"Weaver",
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"[email protected]"
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704051-000119312520206706-d111867dex991 | EX-99.1
4
d111867dex991.htm
EXHIBIT 99.1 - PRESS RELEASE, DATED JULY 31, 2020, ISSUED BY LEGG MASON, INC.
EXHIBIT 99.1 - Press Release, dated July 31, 2020, issued by Legg Mason, Inc.
Exhibit 99.1
Legg Mason, Inc. Announces Intent to Delist Junior Subordinated Notes from NYSE
Baltimore, Maryland - July 31, 2020 - Legg Mason, Inc. (the "Company") today announced that following the completion of its
previously announced merger with Alpha Sub, Inc. ("Merger Sub"), a wholly owned subsidiary of Franklin Resources, Inc. ("Franklin Templeton"), the Company has notified the New York Stock Exchange ("NYSE") of its
intention to delist its 6.375% Junior Subordinated Notes due 2056 (NYSE: LMHA) and 5.45% Junior Subordinated Notes due 2056 (NYSE: LMHB) (collectively, the "Junior Notes"), as well as to deregister the Junior Notes from registration with
the Securities and Exchange Commission (the "SEC"). The Company has not made, and does not intend to make, arrangements for the listing and/or registration of the Junior Notes on another national securities exchange or for quotation on
another medium. These actions do not affect the terms of the Junior Notes. The last day of trading of the Junior Notes is expected to be August 20, 2020.
As previously announced, on February 17, 2020, the Company entered into an Agreement and Plan of Merger (the "Merger Agreement") with Franklin
Templeton and Merger Sub, pursuant to which Franklin Templeton acquired the Company on July 31, 2020. The Company has decided to delist the Junior Notes in connection with the closing of the transactions pursuant to the Merger Agreement.
About Legg Mason
Guided by a mission of Investing to
Improve Lives,
TM
Legg Mason helps investors globally achieve better financial outcomes by expanding choice across investment strategies, vehicles and investor access through independent
investment managers with diverse expertise in equity, fixed income, alternative and liquidity investments. Legg Mason's assets under management are $783.4 billion as of June 30, 2020. To learn more, visit our
web
site
, our
newsroom
, or follow us on
LinkedIn
,
Twitter
, or
Facebook
.
#######
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1454742-000147793215001686-hdsi_ex991 | EX-99.1
8
hdsi_ex991.htm
PRESS RELEASE
EXHIBIT 99.1
March 12, 2015
FOR IMMEDIATE RELEASE
HDS International Announces Strategic Expansion Agreement with SirenGPS, Inc.
ST. LOUIS, MO, March 12, 2015/PRNewswire via COMTEX/ -- HDS International Corp. (OTCPink: HDSI), a technology development company, today announced that it has entered into a Strategic Expansion Agreement and an Intellectual Property License Agreement with SirenGPS, Inc., a developer and licensor of emergency management and emergency response technologies. In conjunction with the agreement, HDS International received a non-exclusive license from SirenGPS and will seek capitalize on the critical need for improved emergency response technologies, by engaging in the development, marketing and sale of SirenGPS emergency management software. SirenGPS provides industry leading solutions that enhance existing emergency communications by, among other things, providing location services for mobile 911 calls. SirenGPS emergency management software lets emergency managers know what is happening and communicate with people in their communities in real-time.
The Company also announced the appointment of Paul Rauner, 46, as Chairman and CEO of the Company, who will lead the Company's new initiative effective immediately. Concurrently therewith, Mr. Recachinas, the Company's sole officer and director prior to this transaction, will resign from all positions with Company.
"Smartphones pick up your location so accurately that we use them as our primary navigation devices", Rauner notes. "However, despite these advances, emergency dispatch today often does not have that information when you call 911. Emergency managers at our schools, hospitals and businesses are even worse off, lacking the tools to know what is happening to the people they are responsible for. SirenGPS' technology, under license and offered by HDSI, can change that." The Federal Communication Commission (FCC) Chairman Tom Wheeler recently issued a public statement calling for mobile app technology to address the 911 location problem, and under today's landmark agreement, HDS International Corp. is prepared to deliver. http://www.fcc.gov/article/doc-331757a2
The Company further announced that it has reached agreements to settle over $1.3 million in previously disclosed liabilities owed by the Company. Under the settlements, certain creditors have agreed to accept newly-issued shares of common stock of the Company in exchange for a general release and settlement of amounts owing, eliminating liabilities from the balance sheet.
"The series of transactions announced today position HDS International to create substantial shareholder value, by eliminating a substantial majority of the Company's debt and breathing new life into the Company with unique breakthrough emergency management technologies", said Mr. Recachinas, the Company's former CEO. "Today's announcement pivots the Company to pursue substantial value creation in an exciting emerging field where success is ultimately measured not only by profits generated, but by lives saved".
1
Advising on the Strategic Expansion Agreement was Source Capital Group, Inc., a boutique investment banking firm based in Westport, CT focused on emerging growth companies in technology, energy, and other domains.
In connection with the Strategic Expansion Agreement, the Company assigned the rights it had under the NB Provincial License entered into December 10, 2012, and all the rights it had under that certain exclusivity agreement with the City of Saint John, NB, Canada entered into November 30, 2012, to Hillwinds Ocean Energy, LLC, which was formerly the controlling shareholder of the Company.
For additional information about the Company, please visit www.hdsicorp.com, or refer to the Company's regulatory filings at www.sec.gov.
About HDS International Corp.
HDS International Corp. (OTCPink: HDSI), based in Providence, RI, is a technology development company based in St. Louis, MO. In March, 2015, the Company entered into a license agreement with SirenGPS, Inc., a Delaware corporation headquartered in Missouri, relating to technologies that revolutionize emergency communication and emergency response, improving response times by connecting smartphones to emergency services.
Forward-Looking Statements
Statements included in this update that are not historical in nature, are intended to be, and are hereby identified as, "forward-looking statements". Forward-looking statements may be identified by words including "anticipate", "believe", "intends", "estimates", "expect", and similar expressions. The Company cautions readers that forward-looking statements including, without limitation, those relating to the Company's future business prospects are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements, due to factors such as those relating to economic, governmental, technological, and other risks and factors identified from time to time in the Company's reports filed with the SEC.
HDS International Corp.
CONTACT INFORMATION
401-400-0028
[email protected]
http://www.hdsicorp.com
2
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"SirenGPS",
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"\"",
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"Commission",
"(",
"FCC",
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"Chairman",
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"Wheeler",
"recently",
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",",
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",",
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"International",
"Corp",
".",
"is",
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".",
"http://www.fcc.gov/article/doc-331757a2",
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"it",
"has",
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"agreements",
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"1.3 million",
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",",
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"-",
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"stock",
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"release",
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"settlement",
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",",
"eliminating",
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".",
"\"",
"The",
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"of",
"transactions",
"announced",
"today",
"position",
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"International",
"to",
"create",
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",",
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"a",
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"breathing",
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"emergency",
"management",
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"\"",
",",
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".",
"Recachinas",
",",
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".",
"\"",
"Today",
"'",
"s",
"announcement",
"pivots",
"the",
"Company",
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"substantial",
"value",
"creation",
"in",
"an",
"exciting",
"emerging",
"field",
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"measured",
"not",
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",",
"but",
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"saved",
"\"",
".",
"1",
"Advising",
"on",
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"Expansion",
"Agreement",
"was",
"Source",
"Capital",
"Group",
",",
"Inc",
".",
",",
"a",
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"investment",
"banking",
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",",
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"companies",
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",",
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",",
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"other",
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".",
"In",
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",",
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"entered",
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",",
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",",
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"Ocean",
"Energy",
",",
"LLC",
",",
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"shareholder",
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"the",
"Company",
".",
"For",
"additional",
"information",
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"the",
"Company",
",",
"please",
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",",
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"refer",
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"Company",
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"filings",
"at",
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".",
"About",
"HDS",
"International",
"Corp",
".",
"HDS",
"International",
"Corp",
".",
"(",
"OTCPink",
":",
"HDSI",
")",
",",
"based",
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",",
"RI",
",",
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"company",
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".",
"Louis",
",",
"MO",
".",
"In",
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",",
"2015",
",",
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"SirenGPS",
",",
"Inc",
".",
",",
"a",
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",",
"relating",
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"emergency",
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",",
"improving",
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".",
"Forward",
"-",
"Looking",
"Statements",
"Statements",
"included",
"in",
"this",
"update",
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",",
"are",
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",",
"and",
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",",
"\"",
"forward",
"-",
"looking",
"statements",
"\"",
".",
"Forward",
"-",
"looking",
"statements",
"may",
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"identified",
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"\"",
"anticipate",
"\"",
",",
"\"",
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"\"",
",",
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",",
"\"",
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",",
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",",
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"-",
"looking",
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",",
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",",
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"time",
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"reports",
"filed",
"with",
"the",
"SEC",
".",
"HDS",
"International",
"Corp",
".",
"CONTACT",
"INFORMATION",
"401",
"-",
"400",
"-",
"0028",
"[email protected]",
"http://www.hdsicorp.com",
"2"
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] |
1418065-000114420413001815-v331872_ex99-1 | EX-99.1
2
v331872_ex99-1.htm
EXHIBIT 99.1
Exhibit 99.1
EQM
Technologies & Energy, Inc. ANNOUNCEs COMPLETION OF SALE OF
ITS
Biodiesel PRODUCTION bUSINESS to Delek Renewables, LLC
Cincinnati, OH,
January 11, 2013
- EQM Technologies & Energy, Inc. (OTCQB: EQTE) ("EQM"), a leading provider
of environmental services to government and commercial businesses, today announced that it has completed the sale of its biodiesel
production facility based in Cleburne, TX and related assets to Delek Renewables, LLC ("Delek Renewables"), a wholly
owned subsidiary of Delek US Holdings, Inc. (NYSE: DK), for approximately $5.5 million in cash.
EQM's tolling agreement, pursuant to
which it produced biodiesel for Delek Renewables, was terminated concurrent with the completion of the transaction.
EQM has used approximately $2 million of proceeds
to pay off all unpaid principal and accrued interest under EQM's secured subordinated notes that were secured by the assets
sold in the transaction. It intends to use the remainder of the proceeds for general corporate purposes.
"We are pleased to have closed this
transaction, as we have achieved value for our stockholders and have improved our balance sheet. We will now turn our attention
to growing our environmental services business and pursuing strategic acquisitions", said James E. Wendle, President and
Chief Operating Officer of EQM.
Ardour Capital Investments LLC acted as financial
advisors to EQM in this transaction.
EQM Technologies & Energy, Inc.
EQM, based in Cincinnati, OH, is a leading
provider of environmental services - consulting & engineering, clean technology, and remediation & construction management
- to the public and industrial sectors, with approximately 220 employees and satellite offices and operations in 11 states.
EQM has longstanding relationships and multi-year contracts with numerous federal agencies, including the Environmental Protection
Agency and the Department of Defense (including the Air Force Center for Engineering & Environment, Naval Facilities Engineering
Command, and the Army Corps of Engineers), as well as private sector clients across numerous industries. For more information,
please visit www.eqm.com.
Statements in this press release regarding
EQM's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties.
EQM wishes to caution readers not to place undue reliance on such forward-looking statements, which speak only as of the date made.
To the extent the content of this press release includes forward-looking statements; they involve various risks and uncertainties,
including the successful integration of acquired businesses, projected financial information and the continued successful implementation
of EQM's business strategy.
Certain of these risks and uncertainties
are described in greater detail in EQM's filings with the Securities and Exchange Commission. EQM is under no obligation
to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information,
future events or otherwise.
Contact
EQM Technologies & Energy, Inc.
Robert R. Galvin, 800-229-7495 or 513-742-7219
Chief Financial Officer
Fax: 513-825-7495
[email protected]
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822708-000113626113000003-exh99-1 | EX-99.1
2
exh99-1.htm
PRESS RELEASE
January 7, 2013 Exhibit 99.1
Exhibit 99.1
PRESS RELEASE
Zoom Technologies Announces Sale of China-based Operations
And Strategy to Acquire U.S.-based Businesses
Beijing, China, January 7, 2013 -
Zoom Technologies, Inc. (NASDAQ: ZOOM) a leading designer and
manufacturer of mobile phones and consumer electronics, announced the execution of a definitive agreement pursuant to which it will
sell its China-based manufacturing, sales and marketing, and R&D subsidiaries, and that the proceeds of the sale will be used for
the purchase of additional U.S.-based businesses.
On December 31, 2012, Zoom Technologies, Inc. ("Zoom" or the "Company")
entered into a Share Purchase Agreement with the Beijing Zhumu Culture Communication Company, Ltd. (the "Purchaser"),
a PRC company that provides services to the telecommunication industry, for the sale to the Purchaser of the Company's China based
operations including: 100% ownership of Beijing Nollec Wireless Company ("Nollec") - the R&D subsidiary, 80%
ownership of Tianjin Tongguang Group Digital Communication Company, Ltd. ("TCBD") - the main manufacturing entity,
100% ownership of Profit Harvest Corporation, Ltd. ("Profit Harvest") - the sales & marketing company, and 100%
ownership of Celestial Digital Entertainment, Ltd. ("CDE") - the mobile game maker. As consideration for the sale, the
Purchaser shall pay the Company an aggregate of Rmb 200 million, equivalent to approximately US$32 million. The purchase price is,
subject to adjustment pending an appraisal by an independent third party appraiser. As of the date of the Share Purchase Agreement,
the Purchaser has deposited the full amount of RMB 200 million into an escrow account, to be released to the Company upon the final
closing of the Sale, which will be held 30 days after the Company receives all the requisites corporate and regulatory approvals with
respect to the Sale.
The Company's ownership interest in SpreadZoom Technologies Co., Ltd., which owns and operates mobile
phone manufacturing facilities in Tianjin and which is a joint-venture between the Company and Spreadtrum Technologies, Inc., is not
part of the sale.
The final closing of the sale of the above-mentioned subsidiaries of the Company is anticipated to take place
within the first quarter of 2013 with the exception of Profit Harvest which closing occurred as of December 31, 2012. In addition, the
Company will, through Portables Unlimited, LLC, its U.S. based subsidiary, continue to operate the exclusive wholesale distributor
business for T-Mobile products and services in the United States.
The Company intends to use the cash proceeds from the sale of the assets to acquire similar businesses in the
U.S. to further expand its activities there, including but not limited to the acquisition of additional licensed retail stores that
service T-Mobile USA.
Page 1
Zoom's Chairman & CEO, Mr. Leo Gu stated, "Our strategy is a simple one. We will focus our
resources to capture revenues from U.S. based operations, which we started over a year ago by our acquisition of Portables Unlimited
in New York. With this sale, our revenues will be predominantly generated from our U.S. operations. The selling of our China based
operations doesn't mean that we are out of touch with China because we can always contract with our former subsidiaries, when the
need arises going forward. We feel that it is important to listen to the market which has not been favorable Chinese companies listed in
the U.S., and we are confident that the combination of our continued relationships in China and the expansion of our U.S. activities is a
positive direction for Zoom Technologies. We are actively seeking synergistical businesses to bring into Zoom and adding on more
licensed retail stores of T-Mobile USA is a part of this plan".
About Zoom Technologies, Inc.
Zoom Technologies is a holding Company with subsidiaries that engage in the manufacturing, research
and development, and sale of electronic and telecommunication products for the latest generation of mobile phones, wireless
communication circuitry and related software products. Zoom Technologies' current subsidiary, Jiangsu Leimone, owns a majority stake
of TCB Digital, which offers highly customized and high quality Electronic Manufacturing Service (EMS) for Original Equipment
Manufacturer (OEM) customers as well as its Own Brand Manufacturing (OBM) under the ZOOM, LEIMONE and LONGTEL brand
names. The Company's products are both exported globally and sold domestically in People's Republic of China. Zoom Technologies
also owns a controlling interest in Portables Unlimited LLC, a cellular service and products distributor in the U.S.
Forward-Looking Statements
Certain statements in this press release may constitute "forward looking statements" that involve risks and
uncertainties. These include statements about our expectations, plans, objectives, assumptions or future events in which the outcome
cannot be assured. You should not place undue reliance on these forward-looking statements. Information concerning factors that could
cause our actual results to differ materially from these forward-looking statements can be found in our periodic reports filed with the
Securities and Exchange Commission. We undertake no obligation to publicly release revisions to these forward-looking statements to
reflect future events or circumstances or reflect the occurrence of unanticipated events.
Investor Contact:
Lynn Wei
Investor Relations Coordinator
Zoom Technologies, Inc.
+86-10-5935-9576
[email protected]
www.zoom.com
Page 2
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".",
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".",
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".",
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"31",
",",
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",",
"Zoom",
"Technologies",
",",
"Inc",
".",
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",",
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"Nollec",
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"D",
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",",
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",",
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",",
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",",
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",",
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",",
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".",
",",
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"-",
"mentioned",
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"take",
"place",
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"quarter",
"of",
"2013",
"with",
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"Harvest",
"which",
"closing",
"occurred",
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"31",
",",
"2012",
".",
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",",
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"will",
",",
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"Portables",
"Unlimited",
",",
"LLC",
",",
"its",
"U",
".",
"S",
".",
"based",
"subsidiary",
",",
"continue",
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"operate",
"the",
"exclusive",
"wholesale",
"distributor",
"business",
"for",
"T",
"-",
"Mobile",
"products",
"and",
"services",
"in",
"the",
"United",
"States",
".",
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"Company",
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"use",
"the",
"cash",
"proceeds",
"from",
"the",
"sale",
"of",
"the",
"assets",
"to",
"acquire",
"similar",
"businesses",
"in",
"the",
"U",
".",
"S",
".",
"to",
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",",
"including",
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"not",
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"licensed",
"retail",
"stores",
"that",
"service",
"T",
"-",
"Mobile",
"USA",
".",
"Page",
"1",
"Zoom",
"'s",
"Chairman",
"&",
"CEO",
",",
"Mr",
".",
"Leo",
"Gu",
"stated",
",",
"\"",
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"is",
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"simple",
"one",
".",
"We",
"will",
"focus",
"our",
"resources",
"to",
"capture",
"revenues",
"from",
"U",
".",
"S",
".",
"based",
"operations",
",",
"which",
"we",
"started",
"over",
"a",
"year",
"ago",
"by",
"our",
"acquisition",
"of",
"Portables",
"Unlimited",
"in",
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"York",
".",
"With",
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"sale",
",",
"our",
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"U",
".",
"S",
".",
"operations",
".",
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"selling",
"of",
"our",
"China",
"based",
"operations",
"does",
"n",
"'",
"t",
"mean",
"that",
"we",
"are",
"out",
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"touch",
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"China",
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"we",
"can",
"always",
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"with",
"our",
"former",
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",",
"when",
"the",
"need",
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"going",
"forward",
".",
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"which",
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"listed",
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"the",
"U",
".",
"S",
".",
",",
"and",
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"combination",
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"continued",
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"China",
"and",
"the",
"expansion",
"of",
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"U",
".",
"S",
".",
"activities",
"is",
"a",
"positive",
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"Zoom",
"Technologies",
".",
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"are",
"actively",
"seeking",
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"to",
"bring",
"into",
"Zoom",
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"adding",
"on",
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"retail",
"stores",
"of",
"T",
"-",
"Mobile",
"USA",
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"this",
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"\"",
".",
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"Technologies",
",",
"Inc",
".",
"Zoom",
"Technologies",
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"a",
"holding",
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"with",
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"latest",
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".",
"Zoom",
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"current",
"subsidiary",
",",
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"Leimone",
",",
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"OBM",
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"under",
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",",
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"sold",
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"'",
"s",
"Republic",
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".",
"Zoom",
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"controlling",
"interest",
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"Portables",
"Unlimited",
"LLC",
",",
"a",
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"service",
"and",
"products",
"distributor",
"in",
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"U",
".",
"S",
".",
"Forward",
"-",
"Looking",
"Statements",
"Certain",
"statements",
"in",
"this",
"press",
"release",
"may",
"constitute",
"\"",
"forward",
"looking",
"statements",
"\"",
"that",
"involve",
"risks",
"and",
"uncertainties",
".",
"These",
"include",
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"expectations",
",",
"plans",
",",
"objectives",
",",
"assumptions",
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"future",
"events",
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"which",
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"be",
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".",
"You",
"should",
"not",
"place",
"undue",
"reliance",
"on",
"these",
"forward",
"-",
"looking",
"statements",
".",
"Information",
"concerning",
"factors",
"that",
"could",
"cause",
"our",
"actual",
"results",
"to",
"differ",
"materially",
"from",
"these",
"forward",
"-",
"looking",
"statements",
"can",
"be",
"found",
"in",
"our",
"periodic",
"reports",
"filed",
"with",
"the",
"Securities",
"and",
"Exchange",
"Commission",
".",
"We",
"undertake",
"no",
"obligation",
"to",
"publicly",
"release",
"revisions",
"to",
"these",
"forward",
"-",
"looking",
"statements",
"to",
"reflect",
"future",
"events",
"or",
"circumstances",
"or",
"reflect",
"the",
"occurrence",
"of",
"unanticipated",
"events",
".",
"Investor",
"Contact",
":",
"Lynn",
"Wei",
"Investor",
"Relations",
"Coordinator",
"Zoom",
"Technologies",
",",
"Inc",
".",
"+",
"86",
"-",
"10",
"-",
"5935",
"-",
"9576",
"[email protected]",
"www.zoom.com",
"Page",
"2"
] | [
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
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"O",
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8947-000000894710000047-ex991pressrelease | EX-99.1
2
ex991pressrelease.htm
PRESS RELEASE RE MERGER COMPLETION
ex991pressrelease.htm
EXHIBIT 99.1
AZZ incorporated Completes Merger of its
Merger Subsidiary with and into
North American Galvanizing & Coatings, Inc.
Contact:
Dana Perry, Senior Vice President - Finance and CFO
AZZ incorporated 817-810-0095
Internet:
www.azz.com
Lytham Partners 602-889-9700
Joe Dorame or Robert Blum
Internet:
www.lythampartners.com
August 3, 2010
-
Fort Worth, TX
- AZZ incorporated ("AZZ") (NYSE: AZZ), a manufacturer of electrical products and a provider of galvanizing services, today announces the consummation of the merger of North American Galvanizing & Coatings, Inc. ("NGA") with and into Big Kettle Merger Sub, Inc., an indirect wholly-owned subsidiary of AZZ ("Big Kettle"), with NGA as the surviving corporation. As a result of this merger, NGA is now an indirect wholly-owned subsidiary of AZZ and its shares are no longer publicly traded, either on an exchange or an OTC market.
About AZZ incorporated (NYSE: AZZ)
AZZ incorporated is a specialty electrical equipment manufacturer serving the global markets of industrial, power generation, transmission and distributions, as well as a leading provider of hot dip galvanizing services to the steel fabrication market nationwide.
Safe Harbor Statement
Certain statements contained in this press release about our expectations of future events or results constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by terminology such as, "may", "should", "expects, " "plans", "anticipates", "believes", "estimates", "predicts", "potential", "continue", or the negative of these terms or other comparable terminology. Such forward-looking statements are based on currently available competitive, financial and economic data and management's views and assumptions regarding future events. Such forward-looking statements are inherently uncertain, and investors must recognize that actual results may differ from those expressed or implied in the forward-looking statements. In addition, certain factors could affect the outcome of the matters described in this press release. These factors include, but are not limited to, (1) the outcome of any legal proceedings that may be instituted against us or others regarding the Merger Agreement and (2) risks that the proposed transaction disrupts current plans and operations. This release may contain forward-looking statements that involve risks and uncertainties including, but not limited to, changes in customer demand and response to products and services offered by AZZ or NGA, including demand by the electrical power generation markets, electrical transmission and distribution markets, the industrial markets, and the hot dip galvanizing markets; prices and raw material cost, including zinc and natural gas which are used in the hot dip galvanizing process; changes in the economic conditions of the various markets that AZZ or NGA serve, foreign and domestic, customer request delays of shipments, acquisition opportunities, adequacy of financing, and availability of experienced management employees to implement AZZ's growth strategy. AZZ has provided additional information regarding risks associated with the business in AZZ's Annual Report on Form 10-K for the fiscal year ended February 28, 2010 and other filings with the SEC, available for viewing on AZZ's website at www.azz.com and on the SEC's website at www.sec.gov. You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. These statements are based on information as of the date of this press release and AZZ assumes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.
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1397047-000101376210002434-ex991 | EX-99.1
4
ex991.htm
EXHIBIT 99.1
ex991.htm
Exhibit 99.1 - Press Release
FOR IMMEDIATE RELEASE - October 12, 2010
ANCHOR FUNDING SERVICES, INC. (OTC BULLETIN BOARD SYMBOL "AFNG.OB") COMPLETES RESCISSION OF ACQUISITION OF CERTAIN ASSETS OF BROOKRIDGE FUNDING LLC.
Boca Raton, Fl. (PR Newswire) October 12, 2010
Anchor Funding Services, Inc. (OTC Bulletin Board Symbol "AFNG.OB") announced today that it completed a rescission on October 6, 2010 on its previously announced asset acquisition of Brookridge Funding LLC. Under the terms of the rescission agreement, Anchor received approximately $783,000 from the sale of its 80% interest in Brookridge Funding Services, LLC ("Brookridge").
The rescission of the Brookridge Funding LLC transaction provides significant benefits to Anchor which include:
·
A reduction of interest expense resulting in annualized savings of approximately $160,000; and
·
Opportunity to expand our accounts receivable funding and purchase order financing as a combined product offering to our current and prospective clients of Anchor (exclusive of clients of Brookridge), without the burden of the Brookridge overhead.
We are excited about the continued growth of Anchor's business and expansion opportunities for our small and mid size business finance products who require working capital and additional credit facilities. We will continue to communicate important developments as they occur.
About Anchor
Anchor provides innovative accounts receivable funding, purchase order financing and credit management services to small and mid-size U.S. businesses. Our funding programs which are based upon the credit worthiness on accounts receivable and supported by physical collateral, provides rapid and flexible financing to support small and mid size businesses' daily working capital needs.
Additional Information
For additional information, a copy of Anchor's Form 8-K can be obtained on the Internet by going to www.sec.gov, clicking "Search for Company filings", then clicking "Companies & Other Filers", typing in our company name and clicking "find Companies".
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995.
Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements express or implied by such forward-looking statements as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10-K and our subsequently filed Quarterly Reports of Form 10-Q. The forward-looking statements are subject to risks and uncertainties including, without limitation, changes in levels of competition, possible loss of customers, and the company's ability to attract and retain key personnel.
We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
Contact Morry F. Rubin, Chairman and C.E.O. (866) 950- 6669 EXT 302
Email: [email protected]
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1676667-000114036119000486-ex99_1 | EX-99.1
2
ex99_1.htm
EXHIBIT 99.1
Exhibit 99.1
FOR IMMEDIATE RELEASE
CONTACT:
Carolina Trust BancShares, Inc.
Jerry L. Ocheltree
(704) 735-1104
Carolina Trust BancShares Completes Acquisition of Clover Community Bankshares and Announces Cash/Stock Election Deadline
LINCOLNTON, N.C., January 2, 2019 (GLOBE NEWSWIRE)
-
Carolina
Trust BancShares, Inc. ("Carolina Trust") (NASDAQ: CART), the parent company of Carolina Trust Bank, announced today the completion of its previously announced merger with Clover Community Bankshares, Inc. ("Clover"), parent company of Clover
Community Bank.
Under the terms of the approved merger agreement, each share of Clover common stock and preferred stock was converted into the right to receive, at the
election of each Clover shareholder, either 2.7181 shares of Carolina Trust common stock or $22.00 in cash, subject to customary proration procedures that will result in an aggregate 80% stock/20% cash consideration mix.
Also under the merger agreement, Clover's subsidiary bank, Clover Community Bank, has merged with Carolina Trust Bank, the wholly owned banking subsidiary
of Carolina Trust.
"I'd like to welcome the Clover customers, shareholders and employees into the Carolina Trust family", said Jerry L. Ocheltree, President and Chief
Executive Officer of Carolina Trust. "We are excited about our expansion into the communities that Clover Community Bank served for so many years and that the same employees that served you before will continue to be there to assist you with your
banking needs. The combination of our services should be able to meet all of your banking needs with state-of-the-art technology that we will be bringing to Clover's markets. I would personally like to thank both sets of shareholders for
supporting this transaction and the staff of both banks for their hard work in making this transaction happen behind the scenes. We at Carolina Trust look forward to meeting and serving you now and into the future".
The deadline for Clover shareholders to elect the form of merger consideration they wish to receive will be 5:00 p.m. Eastern time on February 15, 2019
(the "Election Deadline"). If a Clover shareholder's election is not timely and properly made, the shareholder will be deemed to have made a "no election" as to the form of consideration such holder prefers to receive in exchange for the
holder's shares of Clover stock. Clover shareholders deemed to have made a "no election" will receive either cash, shares of Carolina Trust common stock or a combination of cash and shares of Carolina Trust common stock as determined by
Carolina Trust and Broadridge Corporation Issuer Solutions, Inc., the exchange agent for the merger. Such determinations will be made in accordance with the allocation and proration procedures set forth in the merger agreement.
Clover shareholders should expect to receive election forms and customary transmittal materials in mid-January 2019.
About Carolina Trust BancShares, Inc.
Carolina Trust is the registered bank holding company of Carolina Trust Bank. Carolina Trust Bank is a full-service, state-chartered community bank
headquartered in Lincolnton, NC. Carolina Trust Bank provides a highly competitive suite of personal and business banking products and services to customers in the Piedmont and Mountain Regions of North Carolina to the north and west of
Charlotte, NC and to customers in the Piedmont Region of South Carolina to the west of Charlotte, NC.
1
Additional Information About the Merger and Where to
Find It
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of Carolina Trust or Clover. In connection with the merger of Clover with and into Carolina Trust, Carolina Trust has filed
with the Securities and Exchange Commission, or SEC, a Registration Statement on Form S-4 that includes a Joint Proxy Statement of Carolina Trust and Clover and a Prospectus of Carolina Trust, as well as other relevant documents concerning the
merger.
SHAREHOLDERS OF CAROLINA TRUST AND CLOVER ARE URGED TO READ THE REGISTRATION STATEMENT AND THE JOINT PROXY STATEMENT/PROSPECTUS REGARDING THE MERGER AND
ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE MERGER.
The Joint Proxy Statement/Prospectus and other relevant materials, and any other documents that Carolina Trust has filed with the SEC, may be obtained
free of charge at the SEC's internet site, http://www.sec.gov. Copies of the documents that Carolina Trust has filed with the SEC may also be obtained, free of charge, by directing a written request to Carolina Trust, 901 East Main Street,
Lincolnton, NC 28092, Attn: Edwin Laws, Chief Financial Officer, or by accessing these documents at the Company's website: www.carolinatrust.com.
Cautionary Language Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Carolina Trust intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act
of 1995 and is including this statement for purposes of these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations of Carolina Trust, are generally
identified by the use of words such as "believe", "expect", "intend", "anticipate", "estimate", or "project" or similar expressions. Carolina Trust's ability to predict results, or the actual effect of future plans or strategies, is inherently
uncertain. Factors that could impact the forward-looking statements contained herein or that could have a material adverse effect on the operations and future prospects of Carolina Trust include, but are not limited to: disruptions to customer
and employee relationships and business operations caused by the merger; the ability to implement integration plans associated with the merger transaction, which integration may be more difficult, time-consuming or costly than expected; the
ability to achieve the cost savings and synergies contemplated by the merger within the expected timeframe, or at all; changes in local and national economies, or market conditions; changes in interest rates; regulations and accounting
principles; changes in policies or guidelines; loan demand and asset quality, including real estate values and collateral values; deposit flow; the impact of competition from traditional or new sources; and the other factors detailed in
Carolina Trust's publicly filed documents with the SEC. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Carolina Trust assumes no obligation
to revise, update, or clarify forward-looking statements to reflect events or conditions after the date of this release.
END
# # #
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"or",
"the",
"solicitation",
"of",
"an",
"offer",
"to",
"buy",
"any",
"securities",
"of",
"Carolina",
"Trust",
"or",
"Clover",
".",
"In",
"connection",
"with",
"the",
"merger",
"of",
"Clover",
"with",
"and",
"into",
"Carolina",
"Trust",
",",
"Carolina",
"Trust",
"has",
"filed",
"with",
"the",
"Securities",
"and",
"Exchange",
"Commission",
",",
"or",
"SEC",
",",
"a",
"Registration",
"Statement",
"on",
"Form",
"S",
"-",
"4",
"that",
"includes",
"a",
"Joint",
"Proxy",
"Statement",
"of",
"Carolina",
"Trust",
"and",
"Clover",
"and",
"a",
"Prospectus",
"of",
"Carolina",
"Trust",
",",
"as",
"well",
"as",
"other",
"relevant",
"documents",
"concerning",
"the",
"merger",
".",
"SHAREHOLDERS",
"OF",
"CAROLINA",
"TRUST",
"AND",
"CLOVER",
"ARE",
"URGED",
"TO",
"READ",
"THE",
"REGISTRATION",
"STATEMENT",
"AND",
"THE",
"JOINT",
"PROXY",
"STATEMENT",
"/",
"PROSPECTUS",
"REGARDING",
"THE",
"MERGER",
"AND",
"ANY",
"OTHER",
"RELEVANT",
"DOCUMENTS",
"FILED",
"WITH",
"THE",
"SEC",
",",
"AS",
"WELL",
"AS",
"ANY",
"AMENDMENTS",
"OR",
"SUPPLEMENTS",
"TO",
"THOSE",
"DOCUMENTS",
",",
"BECAUSE",
"THEY",
"CONTAIN",
"IMPORTANT",
"INFORMATION",
"ABOUT",
"THE",
"MERGER",
".",
"The",
"Joint",
"Proxy",
"Statement",
"/",
"Prospectus",
"and",
"other",
"relevant",
"materials",
",",
"and",
"any",
"other",
"documents",
"that",
"Carolina",
"Trust",
"has",
"filed",
"with",
"the",
"SEC",
",",
"may",
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"free",
"of",
"charge",
"at",
"the",
"SEC",
"'s",
"internet",
"site",
",",
"http://www.sec.gov",
".",
"Copies",
"of",
"the",
"documents",
"that",
"Carolina",
"Trust",
"has",
"filed",
"with",
"the",
"SEC",
"may",
"also",
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"obtained",
",",
"free",
"of",
"charge",
",",
"by",
"directing",
"a",
"written",
"request",
"to",
"Carolina",
"Trust",
",",
"901",
"East Main",
"Street",
",",
"Lincolnton",
",",
"NC",
"28092",
",",
"Attn",
":",
"Edwin",
"Laws",
",",
"Chief",
"Financial",
"Officer",
",",
"or",
"by",
"accessing",
"these",
"documents",
"at",
"the",
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"'s",
"website",
":",
"www.carolinatrust.com",
".",
"Cautionary",
"Language",
"Regarding",
"Forward",
"-",
"Looking",
"Statements",
"This",
"press",
"release",
"contains",
"certain",
"forward",
"-",
"looking",
"statements",
"within",
"the",
"meaning",
"of",
"Section",
"27A",
"of",
"the",
"Securities",
"Act",
"of",
"1933",
",",
"as",
"amended",
",",
"and",
"Section",
"21E",
"of",
"the",
"Securities",
"Exchange",
"Act",
"of",
"1934",
",",
"as",
"amended",
".",
"Carolina",
"Trust",
"intends",
"such",
"forward",
"-",
"looking",
"statements",
"to",
"be",
"covered",
"by",
"the",
"safe",
"harbor",
"provisions",
"for",
"forward",
"-",
"looking",
"statements",
"contained",
"in",
"the",
"Private",
"Securities",
"Litigation",
"Reform",
"Act",
"of",
"1995",
"and",
"is",
"including",
"this",
"statement",
"for",
"purposes",
"of",
"these",
"safe",
"harbor",
"provisions",
".",
"Forward",
"-",
"looking",
"statements",
",",
"which",
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"assumptions",
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"describe",
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"plans",
",",
"strategies",
",",
"and",
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"Trust",
",",
"are",
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"identified",
"by",
"the",
"use",
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"such",
"as",
"\"",
"believe",
"\"",
",",
"\"",
"expect",
"\"",
",",
"\"",
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"\"",
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",",
"\"",
"estimate",
"\"",
",",
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"\"",
"project",
"\"",
"or",
"similar",
"expressions",
".",
"Carolina",
"Trust",
"'s",
"ability",
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",",
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"effect",
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",",
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".",
"Factors",
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"forward",
"-",
"looking",
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"adverse",
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"operations",
"and",
"future",
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"Trust",
"include",
",",
"but",
"are",
"not",
"limited",
"to",
":",
"disruptions",
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"operations",
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"by",
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";",
"the",
"ability",
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"implement",
"integration",
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",",
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"difficult",
",",
"time",
"-",
"consuming",
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"timeframe",
",",
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",",
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"conditions",
";",
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"rates",
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"accounting",
"principles",
";",
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";",
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"demand",
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",",
"including",
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";",
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";",
"the",
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"or",
"new",
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";",
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"the",
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"factors",
"detailed",
"in",
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"Trust",
"'s",
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"documents",
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"the",
"SEC",
".",
"These",
"risks",
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"uncertainties",
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"forward",
"-",
"looking",
"statements",
"and",
"undue",
"reliance",
"should",
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"be",
"placed",
"on",
"such",
"statements",
".",
"Carolina",
"Trust",
"assumes",
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"obligation",
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"revise",
",",
"update",
",",
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"clarify",
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"-",
"looking",
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"reflect",
"events",
"or",
"conditions",
"after",
"the",
"date",
"of",
"this",
"release",
".",
"END",
"#",
"#",
"#"
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1392448-000118518512002178-ex99-1 | EX-99.1
3
ex99-1.htm
ex99-1.htm
Exhibit 99.1
Midas Medici Announces Sale of StraTech Assets to Datalink
NEW YORK, New York, 2 October, 2012- Midas Medici Group Holdings, Inc. ("Midas") (OTCQX: MMED), a global IT infrastructure and managed services company, today announced that it has signed a definitive agreement to sell substantially all of the assets of its StraTech brand to Datalink (NASDAQ:DTLK). The assets sold include all customer contracts and relationships and is expected to be effective on October 4
th
, 2012.
"We are pleased to have reached this significant agreement with Datalink", said Chairman, CEO and Co-Founder Nana Baffour. "It is consistent with our strategy of creating shareholder value from an efficient and profitable stewardship of our assets. Under our stewardship, StraTech has performed extremely well, including growing 30% over the past 24 months. "This sale is positive for our shareholders, as well as for our customers".
About StraTech
StraTech is a national provider of Data Center Services, IT Consulting, Infrastructure, and Support Services. A brand of Midas Medici Group Holdings, Inc., StraTech (www.stratech.com) has over 20 years of expertise helping customers build, protect, manage, and support mission critical data center infrastructures.
About Midas Medici
Midas Medici Group Holdings, Inc. (OTCQX:
MMED
) is a managed IT services and infrastructure company that supplies mid-sized and select enterprises and institutions with leading-edge IT. Across its Cimcorp, StraTech and UtiliPoint brands, Midas (
www.midasmedici.com
) works with its customers by optimizing IT and data center investments, streamlining communications between departments, reducing costs and preventing data loss, all while maximizing productivity.
Company Contact:
Johnson Kachidza
Midas Medici Chief Financial Officer
+1 (212) 792-0920
[email protected]
Investor Relations:
John Mattio, SVP
MZ Group / Midas Medici
+1 (212) 301 7130
[email protected]
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766792-000143774917020251-ex_101631 | EX-99.1
2
ex_101631.htm
EXHIBIT 99.1
ex_101631.htm
Exhibit 99.1
enabling tomorrow's technologies™
355 South Technology Drive, Central Islip, New York 11722 |
T
631.981.7081 |
F
631.981.7095 | [email protected]
CVD
Completes Purchase of 180,000 Sq. Ft. Facility
CENTRAL
ISLIP, N.Y., (Business Wire) - December 6, 2017 - CVD Equipment Corporation (NASDAQ: CVV), a leading provider of chemical vapor deposition systems and materials announced today that it has completed the purchase of the Company's planned additional facility, located at 555 North Research Place, Central Islip, NY. This new facility will be the primary manufacturing center for the Company's wholly owned subsidiary, CVD Materials Corporation.
Leonard
A. Rosenbaum, President and Chief Executive Officer stated, "With the completion of this purchase we now have the manufacturing space to accelerate our capabilities of providing materials, coatings, and surface treatments to meet our customers' needs. We look forward to the expansion of our carbon composites and electronic material, Tantaline®, and newly acquired MesoScribe™, product lines. We also anticipate future growth, both organically and by possible future acquisitions. With the purchase behind us, we are now focusing on bringing the new facility on-line and for additional growth opportunities enabled by this additional 180,000 square foot facility".
About CVD Equipment Corporation
CVD Equipment Corporation (NASDAQ:
CVV) designs, develops, and manufactures a broad range of chemical vapor deposition, gas control, and other state-of-the-art equipment and process solutions used to develop and manufacture materials and coatings for research and industrial applications. This equipment is used by its customers to research, design, and manufacture these materials or coatings for aerospace engine components, medical implants, semiconductors, solar cells, smart glass, carbon nanotubes, nanowires, LEDs, MEMS, and other applications. Through its application laboratory, the Company provides process development support and process startup assistance with the focus on
enabling tomorrow's technologies™.
Its wholly owned subsidiary CVD Materials Corporation provides advanced materials and metal surface treatments and coatings to serve demanding applications in the electronic, biomedical, petroleum, pharmaceutical, and many other industrial markets.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by CVD Equipment Corporation) contains statements that are forward-looking. All statements other than statements of historical fact are hereby identified as "forward-looking statements, "as such term is defined in Section 27A of the Securities Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward looking information involves a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those discussed or anticipated by management. Potential risks and uncertainties include, among other factors, conditions, success of CVD Equipment Corporation
's growth and sales strategies, the possibility of customer changes in delivery schedules, cancellation of orders, potential delays in product shipments, delays in obtaining inventory parts from suppliers and failure to satisfy customer acceptance requirements.
For further information about CVD Equipment Corporation please contact:
Gina Franco
Phone: (631) 981-7081
Fax: (631) 981-7095
Email: [email protected]
www.cvdequipment.com
| www.firstnano.com | www.stainlessdesign.com
Page
1
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"have",
"the",
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"space",
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",",
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",",
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",",
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",",
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",",
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"\"",
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"harbor",
"\"",
"for",
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"looking",
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".",
"Certain",
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"release",
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"CVD",
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")",
"contains",
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"-",
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".",
"All",
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"statements",
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"identified",
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"\"",
"forward",
"-",
"looking",
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",",
"\"",
"as",
"such",
"term",
"is",
"defined",
"in",
"Section",
"27A",
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"the",
"Securities",
"Exchange",
"Act",
"of",
"1933",
",",
"as",
"amended",
",",
"and",
"Section",
"21E",
"of",
"the",
"Securities",
"Exchange",
"Act",
"of",
"1934",
",",
"as",
"amended",
".",
"Such",
"forward",
"looking",
"information",
"involves",
"a",
"number",
"of",
"known",
"and",
"unknown",
"risks",
"and",
"uncertainties",
"that",
"could",
"cause",
"actual",
"results",
"to",
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"materially",
"from",
"those",
"discussed",
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"anticipated",
"by",
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".",
"Potential",
"risks",
"and",
"uncertainties",
"include",
",",
"among",
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"factors",
",",
"conditions",
",",
"success",
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"CVD",
"Equipment",
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"'s",
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",",
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",",
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"acceptance",
"requirements",
".",
"For",
"further",
"information",
"about",
"CVD",
"Equipment",
"Corporation",
"please",
"contact",
":",
"Gina",
"Franco",
"Phone",
":",
"(",
"631",
")",
"981",
"-",
"7081",
"Fax",
":",
"(",
"631",
")",
"981",
"-",
"7095",
"Email",
":",
"[email protected]",
"www.cvdequipment.com",
"|",
"www.firstnano.com",
"|",
"www.stainlessdesign.com",
"Page",
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1103837-000110465906083285-a06-26132_1ex99d1 | EX-99.1
3
a06-26132_1ex99d1.htm
EX-99
Exhibit 99.1
For
Immediate Release
Crown Media Completes Sale of Film Library
STUDIO
CITY, CA - December 15, 2006
- Crown Media Holdings, Inc.
(NASDAQ: CRWN), owner and operator of Hallmark Channel, today announced that it
received the necessary regulatory approvals and has completed the sale of its
film library to RHI Enterprises, LLC.
The sale includes all rights in the United States to the over 600 television movies, mini-series and series in
the Crown Media library. Crown Media
will have the right to continue to broadcast selected titles from the library
on the Hallmark Movie Channel for up to two years.
About Crown Media Holdings
Crown Media Holdings, Inc.
(NASDAQ: CRWN) owns and operates cable television channels dedicated to high
quality, broad appeal, entertainment programming. The Company currently operates and
distributes Hallmark Channel in the U.S. to 75 million subscribers. The program service is distributed through
more than 5,300 cable systems and communities as well as direct-to-home satellite
services across the country. Hallmark Channel consistently ranks
among the top ten ad-supported cable networks in Prime Time and Total Day
household ratings and is the nation's leading network in providing
family-friendly programming. Crown Media
also operates a second 24-hour linear channel, Hallmark Movie Channel.
Significant investors in Crown Media Holdings include: Hallmark Entertainment
Holdings, Inc., a subsidiary of Hallmark Cards, Incorporated, Liberty Media
Corp., and J.P. Morgan Partners (BHCA), LP, each through their investments in
Hallmark Entertainment Investments Co.; VISN Management Corp., a for-profit
subsidiary of the National Interfaith Cable Coalition; and The DIRECTV Group,
Inc.
For additional information, please contact:
Mindy Tucker
Nancy Carr
IR Focus
Hallmark Channel
914.725.8128
818.755.2643
[email protected]
[email protected]
# # #
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896262-000119312519026458-d699024dex991 | EX-99.1
4
d699024dex991.htm
EX-99.1
EX-99.1
Exhibit 99.1
Amedisys Closes on Acquisition of Compassionate Care Hospice
Company Becomes Third Largest Hospice Provider in America
Announces Expanded $725 million Senior Secured Credit Facility
BATON ROUGE, La., February 4, 2019 - Amedisys, Inc. (the "Company" or "Amedisys") (NASDAQ: AMED), America's leading
independent home health, hospice and personal care company, has closed on its acquisition of Compassionate Care Hospice, a hospice provider headquartered in Parsippany, New Jersey, with 2,300 employees and 53 locations nationwide.
Under the terms of the agreement, Amedisys acquired 100 percent of the ownership interests in Compassionate Care Hospice for a fixed price of
$340 million, which is inclusive of $50 million in payments related to a tax asset and working capital.
"I am excited to welcome the
employees of Compassionate Care Hospice to the Amedisys family", stated CEO and President Paul Kusserow. "This acquisition allows us to substantially expand our hospice footprint, care for more patients, and together continue to provide
best-in-class
care to all patients we serve. We look forward to immediately beginning integration of our operations and services and will update everyone on our 2019
outlook for the business during our upcoming earnings call".
As disclosed in the Company's October 10, 2018 press release announcing the
acquisition, Compassionate Care Hospice generates approximately $188 million in annual revenues, with an adjusted EBITDA of $27 million.
With
this transaction, Amedisys now cares for more than 11,000 hospice patients daily in 33 states, operating 137 hospice care centers and making it the third largest hospice provider in America. In total, the Company now has 472 care centers in 38
states and the District of Columbia.
The Company also expanded its borrowing capacity by $175 million to $725 million, consisting of a
$550 million revolving credit facility and a $175 million term loan. The initial pricing will represent an interest rate reduction of 25 basis points compared to pricing under the previous credit facility. Upon closing of the Compassionate
Care Hospice acquisition, the Company will have approximately $350 million of liquidity available.
"I would like to thank our partners in our
banking syndicate whose commitments and support will allow us to continue executing upon our inorganic growth strategy", said CFO Scott Ginn. "We look forward to putting this additional capital to use in the coming year".
The Company plans to utilize the proceeds from the upsized facility to fund the purchase of Compassionate Care Hospice and provide additional liquidity to
capitalize on an active pipeline of acquisition opportunities. The lender syndicate of ten banks was led by Bank of America Merrill Lynch, as Administrative Agent and Joint Bookrunner, JPMorgan Chase Bank, N.A., as
Co-Syndication
Agent and Joint Bookrunner and Fifth Third Bank and Citizens Bank, N.A., as Joint Lead Arrangers.
Kantrow Spaht Weaver & Blitzer (APLC) served as legal counsel for Amedisys and Lowenstein Sandler
LLP served as legal counsel for Compassionate Care Hospice for the purposes of this acquisition.
Media Contact:
Investor Contact:
Kendra Kimmons
Nick Muscato
Vice President of Marketing & Communications
Vice President of Strategic Finance
225-299-3708
615-928-5452
[email protected]
[email protected]
Non-GAAP
Financial Measures
This press release includes a reconciliation of the most comparable financial measure calculated and presented in accordance with accounting principles
generally accepted in the U.S. ("GAAP") to
non-GAAP
financial measures. The
non-GAAP
financial measure used in this press release, as defined under SEC rules,
is as follows: adjusted EBITDA of Compassionate Care Hospice ("CCH"), defined as net income before provision for income taxes, net interest expense and depreciation and amortization, excluding certain items. Management believes that this
non-GAAP
financial measure, when reviewed in conjunction with GAAP financial measures, is a useful gauge of CCH's historical performance. This
non-GAAP
financial measure
should be considered in addition to, and not more meaningful than or as an alternative to GAAP financial measures.
Non-GAAP
measures as presented herein may not be comparable to similarly titled measures
reported by other companies since not all companies calculate these
non-GAAP
measures consistently.
Forward-Looking Statements
When included in this press
release, words like "believes", "belief", "expects", "plans", "anticipates", "intends", "projects", "estimates", "may", "might", "would,"
"should", "will" and similar expressions are intended to identify forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to,
statements regarding the expected effects of the Compassionate Care Hospice acquisition, the Company's inorganic growth strategy, and the planned use of proceeds of the upsized credit facility. These forward-looking statements involve a variety
of risks and uncertainties that could cause actual results to differ materially from those described therein. These risks and uncertainties include, but are not limited to the following: our ability to realize the anticipated benefits of the
acquisition of Compassionate Care Hospice, changes in Medicare and other medical payment levels, our ability to open care centers, acquire additional care centers and integrate and operate these care centers effectively, changes in or our failure to
comply with existing federal and state laws or regulations or the inability to comply with new government regulations on a timely basis, competition in the healthcare industry, changes in the case mix of patients and payment methodologies, changes
in estimates and judgments associated with critical accounting policies, our ability to maintain or establish new patient referral sources, our ability to
attract and retain qualified personnel, changes in payments and covered services by federal and state governments, future cost containment initiatives undertaken by third-party payors, our access
to financing, our ability to meet debt service requirements and comply with covenants in debt agreements, business disruptions due to natural disasters or acts of terrorism, our ability to integrate, manage and keep our information systems secure,
our ability to comply with requirements stipulated in our corporate integrity agreement and changes in law or developments with respect to any litigation relating to the Company, including various other matters, many of which are beyond our control.
Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, you should not
rely on any forward-looking statement as a prediction of future events. We expressly disclaim any obligation or undertaking and we do not intend to release publicly any updates or changes in our expectations concerning the forward-looking statements
or any changes in events, conditions or circumstances upon which any forward-looking statement may be based, except as required by law.
About
Amedisys:
Amedisys, Inc. is a leading healthcare at home Company delivering personalized home health, hospice and personal care. Amedisys is focused
on delivering the care that is best for our patients, whether that is home-based personal care; recovery and rehabilitation after an operation or injury; care focused on empowering them to manage a chronic disease; or hospice care at the end of
life. More than 3,000 hospitals and 65,000 physicians nationwide have chosen Amedisys as a partner in post-acute care. Founded in 1982, headquartered in Baton Rouge, LA with an executive office in Nashville, TN, Amedisys is a publicly held company.
With more than 21,000 employees in 472 care centers in 38 states and the District of Columbia, Amedisys is dedicated to delivering the highest quality of care to the doorsteps of more than 376,000 patients and clients in need every year. For more
information about the Company, please visit:
www.amedisys.com
.
# # #
Reconciliation of
non-GAAP
Measures:
For the Twelve Months
Ended May 31, 2018
($ thousands - unaudited)
Net income attributable to Compassionate Care Hospice
$
21,265
Add:
Income tax expense
2,436
Interest expense, net
146
Depreciation and amortization
43
Certain items
3,052
Adjusted EBITDA
1
attributable to
Compassionate Care Hospice
$
26,942
1.
Adjusted EBITDA is defined as net income before provision for income taxes, net interest expense and
depreciation and amortization, excluding certain items.
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] |
715788-000147793218000084-evio_ex991 | EX-99.1
5
evio_ex991.htm
PRESS RELEASE
evio_ex991.htm
EXHIBIT 99.1
EVIO Inc. Completes Acquisition of Licensed California Cannabis Testing Laboratory
BEND, OR / January 2, 2018/
EVIO, Inc. (OTCQB: EVIO), a life sciences company and leading provider of quality control testing and advisory services to the regulated cannabis industry, announced today that it completed the acquisition of 60% of C3 Labs, LLC. EVIO also has the option to purchase the remaining ownership subject to terms disclosed below. Effective January 1, 2018, C3 Labs LLC was also granted its temporary testing license from the State of California, and will operate under the brand EVIO Labs Berkeley.
Located in Berkeley, CA, C3 Labs will serve licensed California cannabis businesses in accordance with the rules set forth by the Bureau of Cannabis Control. The State already issued more than 400 temporary licenses with more than 1,800 applications have been submitted and still pending review. The Bureau of Cannabis Control also implemented emergency rules which require all cannabis harvested or manufactured after January 1, 2018 be tested by a licensed testing laboratory. Testing rules will phase-in, with increased testing requirements both on July 1, 2018 and January 1, 2019.
Licensed Cannabis companies seeking to obtain testing services from EVIO Labs Berkeley can reach the lab by calling 888-544-EVIO (3846) extension 2001.
"The addition of C3 Labs to the EVIO network is a tremendous milestone for EVIO Inc. C3 Labs generated over $1M in consulting revenues during the last two years, EVIO plans to continue offering these services along with traditional compliance testing. The 8,000 square foot facility is already outfitted with the latest analytical testing equipment, and will become our Northern California hub laboratory", commented William Waldrop EVIO CEO, "This acquisition represents a significant development for EVIO as the Company continues to focus on increasing market share in the state of California. Demand for testing services is expected to increase significantly as the state rolls out its adult-use marijuana market".
In consideration of the C3 Labs 60% membership acquisition, EVIO issued a $500,000 convertible promissory note that bears no interest and has a maturity date six months from closing at which time the note will automatically convert at a rate of $0.75 per share. EVIO also issued a $100,000 promissory note that is due within 90 days of closing. For a period of three years from closing date, EVIO has the right to acquire an additional 30% ownership for $450,000 payable in cash and/or stock subject to C3 member approval. Contingent upon exercise of the 30% option, EVIO will have the option to acquire the remaining 10% ownership after three years from closing. The purchase price will be mutually agreeable at that time, or subject to independent third-party valuation.
About C3 Labs, LLC.
Located in Berkeley, CA, C3 Labs, LLC has been serving the cannabis industry since 2015. C3 Labs was one of the nation's first, true, cannabis-focused contract research organization (CRO), with both field services and a state of the art research center in beautiful Berkeley, California. C3 Labs' highly experienced scientists and engineers utilize cutting edge technology to support their customers in analytical chemistry, process chemistry, formulations, and engineering. C3 Labs applies technologies employed by the food product and pharmaceutical industries to ensure that growers and processors operate in a fully compliant and quality manner and helps clients maintain
the
highest level of safe and effective medicinal products. Their staff has over 40 years of collective hands-on analytical expertise working in the Pharmaceutical and Petrochemical industries with 7 years of experience consulting to the FDA, USDA, and EPA, as well as the companies regulated by these agencies.
1
About EVIO, Inc.
EVIO, Inc. is a life sciences company focused on analyzing cannabis as a means for improving quality of life. The Company provides analytical testing services, advisory services and performs product research in its accredited laboratory testing facilities. The Company's EVIO Labs division operating coast-to-coast provides state-mandated ancillary services to ensure the safety and quality of the nation's cannabis supply.
For more information, visit www.eviolabs.com
Safe Harbor Statement
Any statements in this press release that are not statements of historical fact maybe considered to be forward-looking statements. Statements may contain certain forward-looking statements pertaining to future anticipated or projected plans, performance and developments, as well as other statements relating to future operations and results. Words such as "may", "will", "expect", "believe", "anticipate", "estimate", "intends", "goal", "objective", "seek", "attempt", or variations of these or similar words, identify forward-looking statements. These forward-looking statements by their nature are estimates of future results only and involve substantial risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, our ability to complete our product testing and launch our product commercially, the acceptance of our product in the marketplace, the uncertainty of the laws and regulations relating to cannabis, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed from time to time in our reports filed with the Securities and Exchange Commission, available at www.sec.gov or www.eviolabs.com
Company Contact:
EVIO Inc.
Bend, OR
www.EVIOlabs.com
888.544.EVIO
[email protected]
Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]
2
| [
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"Contact",
":",
"EVIO",
"Inc",
".",
"Bend",
",",
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"www.EVIOlabs.com",
"888",
".",
"544",
".",
"EVIO",
"[email protected]",
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":",
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"(",
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")",
"New",
"York",
",",
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"York",
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".",
"1217",
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"[email protected]",
"2"
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1191334-000114420406045179-v056353_ex99-1 | EX-99.1
12
v056353_ex99-1.htm
CinTel
Agrees to Acquire 51% of Phoenix Semiconductor and Telecommunication (Suzhou)
Co., Ltd. in China
LOUISVILLE,
KY--(Businesswire)-Oct
30,
2006 -- CinTel Corp. (CinTel) (OTC BB: CNCN.OB), Korea's top Internet traffic
management (ITM) solution provider, is pleased to announce it has signed a
stock
purchase agreement with STS Semiconductor & Telecommunications Co., Ltd
(STS) to acquire fifty-one percent (51%) ownership and equity interests of
Phoenix Semiconductor Telecommunication (Suzhou) Co., Ltd. (PSTS) for an
aggregate purchase price of $16.5 million. STS is a KOSDAQ-listed subsidiary
of
BoKwang Group, and this purchase will give CinTel a close strategic alliance
with the BoKwang Group.
Deloitte
Anjin LLC performed a valuation of PSTS as part of CinTel's
due
diligence. PSTS's
value,
depending on discount rates ranges, is between $54M and $83M USD based upon
the
Discounted Cash Flow (DCF) method, which is based on forecasted cash flows
from
the Company's
operations discounted to the present value.
This
agreement offers CinTel a unique opportunity to realize its new long-term goal
of expansion into a "Semiconductor
Specialized Company"
by
consolidating various parts and/or companies involved in the semiconductor
industry. Management believes this acquisition of a majority stake in PSTS
will
ensure that CinTel's
stream
of profits will grow exponentially in the near future.
This
acquisition will allow CinTel to shift from its core business of ITM (Internet
Traffic Management), an increasingly competitive market due to changes in
technology and solutions, to one of the fastest growing markets in the
technology realm. Semiconductor, NAND Flash and LCD chips, which are the focal
products of PSTS, are high value-added products. CinTel expects that its
products'
revenues
will grow at significantly better rates than industry averages.
PSTS's
major
customer contract is with Samsung Electronics and Hynix. Sales in 2005, when
production commenced, were about $12.8 million and sales in 2006 are expected
to
be more than $50 million with a long-term strategic contract with Samsung
Electronics. Sales in 2007 are expected to also grow rapidly, as are profits.
CinTel's
expects
that the expansion of its semiconductor business will start from the
fast-developing and emerging Chinese market and gradually move into the USA
and
EU markets. CinTel will continue to improve its shareholder's
stock
value and intends to work towards listing on the NASDAQ Small Cap or American
Stock Exchange markets as soon as the opportunity arises.
Sang-Don
Kim, the CEO of CinTel, said, "CinTel's
acquisition of a majority stake in PSTS, with its solid business model and
explosive growth and profit potential, is
quite
meaningful to CinTel as a first step in a part of our long-term growth strategy.
CinTel will also be able to fulfill its promise to investors with positive
profit results this year. PSTS will be able to grow rapidly with the strong
support of key customers such as Samsung Electronics Corporation, from which
it
was originally spun-off. I am confident this close strategic partnership with
STS, BoKwang Group and PSTS's
customer Samsung Electronics Corporation will provide all our shareholders
the
opportunity to see significant benefits and shareholder value in the near
future."
About
PSTS (www.psts.com.cn)
Phoenix
Semiconductor and Telecom was founded by STS in China in 2004 by acquiring
certain parts of the packaging production lines from Samsung Electronics
Corporation's
China
plant (SESS). It began mass production in 2005 and its main customers are
Samsung Electronics and Hynix, two of the largest semiconductor manufacturers
in
the world. PSTS's
main
products are semiconductor packaging, NAND flash memory and LCD
assembly.
About
STS
Semiconductor and Telecommunication (www.sts-semi.co.kr)
STS
Semiconductor and Telecommunication is a subsidiary of BoKwang Group and the
biggest semiconductor company in BoKwang's
network. It began as a semiconductor packaging and testing specialty company
after spinning off from Samsung Electronics in 1998 and is now becoming a
leading semiconductor packaging company, as well as, a total solution provider
for memory application for home appliances, semiconductor, TFT-LCD application
products. STS was listed on KOSDAQ in 2001 and is being publicly traded
now.
About
BoKwang Group (www.bokwang.com)
From
its
beginnings as a producer of TV cathode ray tubes and electronic materials in
1983, BoKwang group has grown to a major conglomerate with over 30 subsidiary
companies in hi-tech, leisure, finance, retail, logistic and culture businesses.
About
CinTel Corp: (www.cintelcorp.net)
CinTel
Corp., based in North America with its main business operations in Korea,
provides enterprise technology solutions that deliver faster internal and
external network service. Founded in 1997, CinTel introduced Korea's first
dynamic server load balancer, which has now evolved into a world-class product
line with ever expanding solutions with key partners and internal development.
CinTel's award-winning Internet Traffic Management (ITM) solutions are marketed
to customers worldwide, enabling the company's customers to improve Internet
and
network traffic management, service levels, secure content, user experience,
and
reduce server loads and bandwidth demands. While CinTel maintains its position
as a leader in ITM through continuous research and development efforts, it
has
also begun expansion into creative new markets and worldwide distribution of
Korean based technologies. CinTel is also a recognized leader in Content
Delivery Network (CDN). For additional information, please visit CinTel
Corp's
website.
Contact:
JD
Sparks, VP
CinTel
Corp
502-657-6077
[email protected]
Safe-Harbor
Statement
This
press release may contain statements (such as projections regarding future
performance) that are forward-looking statements as defined in the Private
Securities Litigation Reform Act of 1995. Actual results may differ materially
from those projected as a result of certain risks and uncertainties, including
but not limited to those detailed from time to time in the Company's filings
with the Securities and Exchange Commission.
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":",
"JD",
"Sparks",
",",
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"CinTel",
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"502",
"-",
"657",
"-",
"6077",
"[email protected]",
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1677576-000114420416140691-v455456_ex99-1 | EX-99.1
4
v455456_ex99-1.htm
EXHIBIT 99.1
Exhibit 99.1
Innovative Industrial Properties Closes on
Sale-Leaseback Transaction with PharmaCann in New York
SAN DIEGO, CA - December 19, 2016 - Innovative Industrial
Properties, Inc. (NYSE: IIPR) (the "Company") announced today that it closed its previously-announced sale-leaseback
transaction with PharmaCann LLC ("PharmaCann"), acquiring PharmaCann's newly-constructed 127,000 square foot medical-use
cannabis cultivation and processing facility in New York.
"We believe this first sale-leaseback transaction exemplifies
our focus on underwriting both the tenant and the property", said Robert Sistek, Chief Financial Officer and Executive Vice
President, Investments of the Company. "PharmaCann possesses a strong management team with solid financial backing, and is
executing well on its business plan in New York and Illinois, two states which we believe present significant market opportunities.
PharmaCann's New York medical-use cannabis cultivation and processing facility is built to exacting specifications, and represents
a clear move to institutional quality real estate in this sector".
New York is the fourth most populous state in the United States
with nearly 20 million residents as of July 1, 2015, according to the U.S. Census Bureau.
In July 2014, Governor Andrew Cuomo and the New York state legislature
enacted the Compassionate Care Act, creating the framework for New York's medical-use cannabis program, which is administered by
the New York Department of Health. In its ongoing review of the program, the Department of Health has taken significant steps recently
to expand access to medical-use cannabis for patients needing treatment in the state. Earlier this month, the Department of Health
announced that it plans to add chronic pain to its list of qualifying conditions for treatment, and to allow licensed medical-use
cannabis providers to wholesale their products to other licensed providers in the state. Last month, New York-licensed nurse practitioners
became eligible to recommend medical-use cannabis for their patients, and a proposed rulemaking was published to allow physician's
assistants to also make such recommendations. According to the Department of Health, there are nearly 19,000 nurse practitioners
and more than 11,000 physician assistants licensed to practice in New York, where they are already authorized to prescribe controlled
substances, such as opioids, for chronic pain and other debilitating conditions. In addition, the Department of Health recently
enacted rules to allow for home delivery of medical-use cannabis.
"We see a tremendous need from patients in New York for treatment,
and we are very encouraged by the recent moves by the Department of Health to expand access to these patients", said Teddy
Scott, Chief Executive Officer of PharmaCann. "This transaction frees up capital we need for expansion, and we expect the
recently enacted changes in New York and other changes to the program being considered to have a very meaningful impact on patient
demand for our products".
The Company acquired PharmaCann's New York facility for $30
million in the sale-leaseback transaction. Concurrent with the closing, the Company and PharmaCann entered into a lease for an
initial term of 15 years, with two five-year lease extension options. The lease provides for an initial base rent of $319,580 per
month, subject to annual increases of the greater of 4% or 75% of the consumer price index. The lease also provides for a property
management fee payable to the Company equal to 1.5% of the then-current base rent throughout the term, and supplemental base rent
for the first five years of the term at a rate of $105,477 per month. Together, the annualized initial base rent, property management
fee and supplemental base rent equate to approximately 17.2% of the purchase price of the New York facility.
In addition to the medical-use cannabis cultivation and processing
facility that is the subject of the Company's sale-leaseback transaction, PharmaCann operates two medical-use cannabis cultivation
and processing facilities and four registered medical-use cannabis dispensaries in Illinois and four registered medical-use cannabis
dispensaries in New York.
About Innovative Industrial Properties
Innovative Industrial Properties, Inc. is a self-advised Maryland
corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed
operators for their regulated medical-use cannabis facilities. Innovative Industrial Properties intends to elect to be taxed as
a real estate investment trust. Additional information is available at
www.innovativeindustrialproperties.com
.
Forward-Looking Statements
This press release contains statements that we believe to be "forward-looking
statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All
statements other than historical facts, including, without limitation, statements regarding the lease with PharmaCann, the New
York medical-use cannabis market and proposed changes to New York medical-use cannabis regulations, are forward-looking statements.
When used in this press release, words such as we "expect", "intend", "plan", "estimate,"
"anticipate", "believe" or "should" or the negative thereof or similar terminology are generally
intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could
cause actual results to differ materially from those expressed in, or implied by, such statements. Investors should not place undue
reliance upon forward-looking statements.
Company Contact:
Paul Smithers
Chief Executive Officer
Innovative Industrial Properties, Inc.
(858) 997-3332
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"for",
"New",
"York",
"'s",
"medical",
"-",
"use",
"cannabis",
"program",
",",
"which",
"is",
"administered",
"by",
"the",
"New",
"York",
"Department",
"of",
"Health",
".",
"In",
"its",
"ongoing",
"review",
"of",
"the",
"program",
",",
"the",
"Department",
"of",
"Health",
"has",
"taken",
"significant",
"steps",
"recently",
"to",
"expand",
"access",
"to",
"medical",
"-",
"use",
"cannabis",
"for",
"patients",
"needing",
"treatment",
"in",
"the",
"state",
".",
"Earlier",
"this",
"month",
",",
"the",
"Department",
"of",
"Health",
"announced",
"that",
"it",
"plans",
"to",
"add",
"chronic",
"pain",
"to",
"its",
"list",
"of",
"qualifying",
"conditions",
"for",
"treatment",
",",
"and",
"to",
"allow",
"licensed",
"medical",
"-",
"use",
"cannabis",
"providers",
"to",
"wholesale",
"their",
"products",
"to",
"other",
"licensed",
"providers",
"in",
"the",
"state",
".",
"Last",
"month",
",",
"New",
"York",
"-",
"licensed",
"nurse",
"practitioners",
"became",
"eligible",
"to",
"recommend",
"medical",
"-",
"use",
"cannabis",
"for",
"their",
"patients",
",",
"and",
"a",
"proposed",
"rulemaking",
"was",
"published",
"to",
"allow",
"physician",
"'s",
"assistants",
"to",
"also",
"make",
"such",
"recommendations",
".",
"According",
"to",
"the",
"Department",
"of",
"Health",
",",
"there",
"are",
"nearly",
"19,000",
"nurse",
"practitioners",
"and",
"more",
"than",
"11,000",
"physician",
"assistants",
"licensed",
"to",
"practice",
"in",
"New",
"York",
",",
"where",
"they",
"are",
"already",
"authorized",
"to",
"prescribe",
"controlled",
"substances",
",",
"such",
"as",
"opioids",
",",
"for",
"chronic",
"pain",
"and",
"other",
"debilitating",
"conditions",
".",
"In",
"addition",
",",
"the",
"Department",
"of",
"Health",
"recently",
"enacted",
"rules",
"to",
"allow",
"for",
"home",
"delivery",
"of",
"medical",
"-",
"use",
"cannabis",
".",
"\"",
"We",
"see",
"a",
"tremendous",
"need",
"from",
"patients",
"in",
"New",
"York",
"for",
"treatment",
",",
"and",
"we",
"are",
"very",
"encouraged",
"by",
"the",
"recent",
"moves",
"by",
"the",
"Department",
"of",
"Health",
"to",
"expand",
"access",
"to",
"these",
"patients",
"\"",
",",
"said",
"Teddy",
"Scott",
",",
"Chief",
"Executive",
"Officer",
"of",
"PharmaCann",
".",
"\"",
"This",
"transaction",
"frees",
"up",
"capital",
"we",
"need",
"for",
"expansion",
",",
"and",
"we",
"expect",
"the",
"recently",
"enacted",
"changes",
"in",
"New",
"York",
"and",
"other",
"changes",
"to",
"the",
"program",
"being",
"considered",
"to",
"have",
"a",
"very",
"meaningful",
"impact",
"on",
"patient",
"demand",
"for",
"our",
"products",
"\"",
".",
"The",
"Company",
"acquired",
"PharmaCann",
"'s",
"New",
"York",
"facility",
"for",
"$",
"30",
"million",
"in",
"the",
"sale",
"-",
"leaseback",
"transaction",
".",
"Concurrent",
"with",
"the",
"closing",
",",
"the",
"Company",
"and",
"PharmaCann",
"entered",
"into",
"a",
"lease",
"for",
"an",
"initial",
"term",
"of",
"15",
"years",
",",
"with",
"two",
"five",
"-",
"year",
"lease",
"extension",
"options",
".",
"The",
"lease",
"provides",
"for",
"an",
"initial",
"base",
"rent",
"of",
"$",
"319,580",
"per",
"month",
",",
"subject",
"to",
"annual",
"increases",
"of",
"the",
"greater",
"of",
"4",
"%",
"or",
"75",
"%",
"of",
"the",
"consumer",
"price",
"index",
".",
"The",
"lease",
"also",
"provides",
"for",
"a",
"property",
"management",
"fee",
"payable",
"to",
"the",
"Company",
"equal",
"to",
"1",
".",
"5",
"%",
"of",
"the",
"then",
"-",
"current",
"base",
"rent",
"throughout",
"the",
"term",
",",
"and",
"supplemental",
"base",
"rent",
"for",
"the",
"first",
"five",
"years",
"of",
"the",
"term",
"at",
"a",
"rate",
"of",
"$",
"105,477",
"per",
"month",
".",
"Together",
",",
"the",
"annualized",
"initial",
"base",
"rent",
",",
"property",
"management",
"fee",
"and",
"supplemental",
"base",
"rent",
"equate",
"to",
"approximately",
"17",
".",
"2",
"%",
"of",
"the",
"purchase",
"price",
"of",
"the",
"New",
"York",
"facility",
".",
"In",
"addition",
"to",
"the",
"medical",
"-",
"use",
"cannabis",
"cultivation",
"and",
"processing",
"facility",
"that",
"is",
"the",
"subject",
"of",
"the",
"Company",
"'s",
"sale",
"-",
"leaseback",
"transaction",
",",
"PharmaCann",
"operates",
"two",
"medical",
"-",
"use",
"cannabis",
"cultivation",
"and",
"processing",
"facilities",
"and",
"four",
"registered",
"medical",
"-",
"use",
"cannabis",
"dispensaries",
"in",
"Illinois",
"and",
"four",
"registered",
"medical",
"-",
"use",
"cannabis",
"dispensaries",
"in",
"New",
"York",
".",
"About",
"Innovative",
"Industrial",
"Properties",
"Innovative",
"Industrial",
"Properties",
",",
"Inc",
".",
"is",
"a",
"self",
"-",
"advised",
"Maryland",
"corporation",
"focused",
"on",
"the",
"acquisition",
",",
"ownership",
"and",
"management",
"of",
"specialized",
"industrial",
"properties",
"leased",
"to",
"experienced",
",",
"state",
"-",
"licensed",
"operators",
"for",
"their",
"regulated",
"medical",
"-",
"use",
"cannabis",
"facilities",
".",
"Innovative",
"Industrial",
"Properties",
"intends",
"to",
"elect",
"to",
"be",
"taxed",
"as",
"a",
"real",
"estate",
"investment",
"trust",
".",
"Additional",
"information",
"is",
"available",
"at",
"www.innovativeindustrialproperties.com",
".",
"Forward",
"-",
"Looking",
"Statements",
"This",
"press",
"release",
"contains",
"statements",
"that",
"we",
"believe",
"to",
"be",
"\"",
"forward",
"-",
"looking",
"statements",
"\"",
"within",
"the",
"meaning",
"of",
"the",
"safe",
"harbor",
"provisions",
"of",
"the",
"Private",
"Securities",
"Litigation",
"Reform",
"Act",
"of",
"1995",
".",
"All",
"statements",
"other",
"than",
"historical",
"facts",
",",
"including",
",",
"without",
"limitation",
",",
"statements",
"regarding",
"the",
"lease",
"with",
"PharmaCann",
",",
"the",
"New",
"York",
"medical",
"-",
"use",
"cannabis",
"market",
"and",
"proposed",
"changes",
"to",
"New",
"York",
"medical",
"-",
"use",
"cannabis",
"regulations",
",",
"are",
"forward",
"-",
"looking",
"statements",
".",
"When",
"used",
"in",
"this",
"press",
"release",
",",
"words",
"such",
"as",
"we",
"\"",
"expect",
"\"",
",",
"\"",
"intend",
"\"",
",",
"\"",
"plan",
"\"",
",",
"\"",
"estimate",
",",
"\"",
"\"",
"anticipate",
"\"",
",",
"\"",
"believe",
"\"",
"or",
"\"",
"should",
"\"",
"or",
"the",
"negative",
"thereof",
"or",
"similar",
"terminology",
"are",
"generally",
"intended",
"to",
"identify",
"forward",
"-",
"looking",
"statements",
".",
"Such",
"forward",
"-",
"looking",
"statements",
"are",
"subject",
"to",
"risks",
"and",
"uncertainties",
"that",
"could",
"cause",
"actual",
"results",
"to",
"differ",
"materially",
"from",
"those",
"expressed",
"in",
",",
"or",
"implied",
"by",
",",
"such",
"statements",
".",
"Investors",
"should",
"not",
"place",
"undue",
"reliance",
"upon",
"forward",
"-",
"looking",
"statements",
".",
"Company",
"Contact",
":",
"Paul",
"Smithers",
"Chief",
"Executive",
"Officer",
"Innovative",
"Industrial",
"Properties",
",",
"Inc",
".",
"(",
"858",
")",
"997",
"-",
"3332"
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"O",
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865911-000114420414031896-v379066_ex99-1 | EX-99.1
2
v379066_ex99-1.htm
EXHIBIT 99.1
Exhibit 99.1
NEWS RELEASE
May 19, 2014
Cascade Bancorp Completes Acquisition
of Home Federal Bancorp, Inc.
Contact:
Terry L. Zink, CEO 541-617-3527
Gregory D. Newton, EVP, CFO 541-617-3526
Bend, Ore. - May 19, 2014/PRNewswire/
- Cascade Bancorp (NASDAQ: CACB) ("Cascade"), the holding company for Bank of the Cascades ("Bank"), today
announced that on May 16, 2014 it completed its previously announced acquisition of Home Federal Bancorp, Inc. (NASDAQ: HOME) ("Home").
The combined company is expected to have assets in excess of $2.3 billion and deposits of $2.0 billion with forty branches serving
the Oregon and Boise, Idaho markets.
Terry Zink, President and Chief Executive
Officer of Cascade, commented, "I am very excited to welcome the customers and employees of Home Federal to Cascade. This
acquisition expands our operational footprint in the Pacific Northwest while also providing revenue and cost synergies to the Bank.
We look forward to delivering an expanded line of products and services to meet the financial needs of our local business and personal
banking customers as we strive to be the premier community bank in the Pacific Northwest".
Under the terms of the merger agreement,
former shareholders of Home Federal Bancorp will receive a fixed exchange ratio of 1.6772 shares of Cascade common stock and $8.43
in cash for each share of Home Federal Bancorp common stock, without interest and less withholding for taxes (and cash in lieu
of fractional shares).
Cascade was advised in this transaction
by Macquarie Capital, as financial advisor, and Hunton & Williams LLP, as legal counsel. Home was advised by Keefe, Bruyette
& Woods, as financial advisor, and Vorys, Sater, Seymour and Pease LLP, as legal counsel.
About Cascade Bancorp and Bank of the Cascades
Cascade Bancorp (NASDAQ: CACB), headquartered
in Bend, Oregon, and its wholly owned subsidiary, Bank of the Cascades, operate in Oregon and Idaho markets. Founded in 1977,
Bank of the Cascades offers full-service community banking through 28 branches in Central, Southern and Northwest Oregon, as well
as in the greater Boise/Treasure Valley, Idaho area. The Bank has a business strategy that focuses on delivering the best in community
banking for the financial well-being of customers and shareholders. It executes its strategy through the consistent delivery of
full relationship banking focused on attracting and retaining value-driven customers. For further information, please visit our
website at
www.botc.com
.
FORWARD LOOKING STATEMENTS
This release contains forward-looking
statements about Cascade Bancorp's plans and anticipated results of operations and financial condition. These statements
include, but are not limited to, our plans, objectives, expectations, and intentions and are not statements of historical fact.
When used in this report, the word "expects", "believes", "anticipates", "could", "may,"
"will", "should", "plan", "predicts", "projections", "continue"
and other similar expressions constitute forward-looking statements, as do any other statements that expressly or implicitly predict
future events, results or performance, and such statements are made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Certain risks and uncertainties and Cascade Bancorp's success in managing such risks and uncertainties
could cause actual results to differ materially from those projected, including among others, the following factors: local and
national economic conditions could be less favorable than expected or could have a more direct and pronounced effect on us than
expected and adversely affect our results of operations and financial condition; the local housing/real estate market could continue
to decline for a longer period than we anticipate; the risks presented by a continued economic recession, which could continue
to adversely affect credit quality, collateral values, including real estate collateral and OREO properties, investment values,
liquidity and loan originations, reserves for loan losses and charge offs of loans and loan portfolio delinquency rates and may
be exacerbated by our concentration of operations in the States of Oregon and Idaho generally, and Central, Southern and Northwest
Oregon, as well as the greater Boise/Treasure Valley, Idaho area, specifically; interest rate changes could significantly reduce
net interest income and negatively affect funding sources; competition among financial institutions could increase significantly;
competition or changes in interest rates could negatively affect net interest margin, as could other factors listed from time to
time in Cascade Bancorp's Securities and Exchange Commission ("SEC") reports; the reputation of the financial
services industry could further deteriorate, which could adversely affect our ability to access markets for funding and to acquire
and retain customers; and existing regulatory requirements, changes in regulatory requirements and legislation (including without
limitation, the Dodd-Frank Wall Street Reform and Consumer Protection Act) and our inability to meet those requirements, including
capital requirements and increases in our deposit insurance premium, could adversely affect the businesses in which we are engaged,
our results of operations and financial condition. Such forward-looking statements also include, but are not limited to, statements
about the benefits of the business combination transaction involving Cascade Bancorp and Home Federal Bancorp, Inc., including
future financial and operating results, the combined company's plans, objectives, expectations and intentions and other statements
that are not historical facts. These forward-looking statements are subject to numerous assumptions, risks and uncertainties which
change over time. Forward-looking statements speak only as of the date they are made and we assume no duty to update forward-looking
statements. Important factors that could cause actual results to differ materially from those indicated by such forward-looking
statements include risks and uncertainties relating to: (i) the risk that the businesses will not be integrated successfully; (ii)
the risk that the cost savings and any other synergies from the transaction may not be fully realized or may take longer to realize
than expected; (iii) disruption from the transaction making it more difficult to maintain relationships with customers, employees
or vendors; (iv) the diversion of management time on post-merger and integration-related issues; (v) general worldwide economic
conditions and related uncertainties; (vi) liquidity risk affecting Cascade's ability to meet its obligations when they come
due; (vii) excessive loan losses; (viii) the effect of changes in governmental regulations; and (ix) other factors we discuss or
refer to in the "Risk Factors" section of Cascade's most recent Annual Report on Form 10-K filed with the SEC
on March 31, 2014. These risks as well as other additional risks and uncertainties are identified and discussed in Cascade's
reports filed with the SEC and available at the SEC's website at www.sec.gov. These forward-looking statements speak only
as of the date of this release. Cascade Bancorp undertakes no obligation to publish revised forward-looking statements to reflect
the occurrence of unanticipated events or circumstances after the date hereof. Readers should carefully review all disclosures
filed by Cascade Bancorp from time to time with the SEC
.
| [
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1319644-000114420407031442-v078086_ex99-3 | EX-99.3
12
v078086_ex99-3.htm
Unassociated Document
Israel
Technology Acquisition Corp. Receives Stockholder
Approval
of Merger with IXI Mobile
Redwood
City, CA; June 5, 2007 -
Israel
Technology Acquisition Corp. (OTCBB: ISLTU.OB, ISLT.OB, ISLTW.OB) and IXI
Mobile, the maker of the Ogo™ family of devices and services, announced today
that the stockholders of Israel Technology Acquisition Corp. have approved
the
merger of the two companies at a special meeting of stockholders held today
in
New York. It
is
expected that the merger will close shortly thereafter.
Upon the
closing, ITAC will change its name to IXI Mobile, Inc., and IXI will change
its
name to IXI Mobile (USA), Inc., which will be a wholly-owned subsidiary of
IXI
Mobile, Inc.
At
closing, the shares, warrants and units of Israel Technology Acquisition Corp.
will continue trading on the Over-The-Counter Bulletin Board under the symbols
OTCBB: ISLTU.OB, ISLT.OB, ISLTW.OB. The Company has applied for listing on
the
Nasdaq Stock Market and hopes to be listed as soon as possible following the
closing.
In
addition to approving the merger, ITAC stockholders approved certain changes
to
the Company's certificate of incorporation relating to the transaction,
including the name change and an increase in authorized capitalization. The
Company also elected seven directors - Gideon Barak, Israel Frieder, Amit
Haller, Victor Halpert, Matthew Hills, Yossi Sela and Shlomo
Shalev.
Israel
Frieder, Chairman and Chief Executive Officer of Israel Technology Acquisition
Corp., said, "We are extremely pleased to close this transaction after more than
a year of hard work and appreciate the support shown by our stockholders
throughout the merger process. We believe IXI and its capable team can now
focus
on growing its business through continued innovation, the addition of carrier
partners and end subscribers".
Amit
Haller, Chief Executive Officer of IXI Mobile, Inc. added, "I would like to
thank our stockholders, employees and everyone else for their support and
contributions during this process. We believe this approval represents a major
milestone for IXI, as we are now optimally positioned to grow our business,
add
customers and continue working to expand the Ogo's presence in the worldwide
mobile communications arena".
Haller
added, "In the last eighteen months, we have brought Ogo to new markets such as
Germany, Latin America and Africa, and will be re-launching the product in
the
United States in the near future, in line with our overall rollout strategy.
Each of these markets possesses significant growth potential for IXI and we
plan
to remain aggressive going forward, bringing our technology into new markets
with new partners, capitalizing on the continued growth in demand for robust,
cost-effective mobile data solutions.
IXI
Mobile, Inc., 275 Shoreline Drive, Suite 505, Redwood City, California,
USA
http://www.ixi.com
Tel
+1.650.551.0600 Fax +1.650.551.0601, http://www.ogo.com
About
IXI Mobile
Headquartered
in Redwood City, CA, IXI Mobile, Inc. offers solutions that bring innovative,
data-centric mobile devices and services to the mass market. IXI Mobile's Ogo
devices are designed to improve the mobile user experience and increase mobile
voice and data usage. The company provides a turn-key solution to mobile
operators and Internet service providers around he world to launch and support
Ogo products. For more information on IXI Mobile, please visit
www.ixi.com.
About
Israel Technology Acquisition Corp.
ITAC
is a
blank check company organized as a corporation under the laws of the State
of
Delaware on February 22, 2005. It was formed to effect a merger, capital
stock exchange, asset acquisition or other similar business combination with
an
unidentified operating business that has manufacturing operations or research
and development facilities located in Israel. On July 19, 2005, it
consummated an initial public offering of its equity securities from which
it
derived net proceeds of approximately $33,965,000, including proceeds from
the
exercise of the underwriters ' over-allotment option. Approximately $32,955,360
of the net proceeds of the initial public offering were placed in a trust
account upon consummation of the initial public offering. Such funds, with
the
interest earned thereon, will be released to ITAC upon consummation of the
merger, less any amount payable to ITAC's stockholders who properly exercise
their conversion rights.
About
Ogo
The
Ogo
family of devices delivers popular applications, including email, instant
messaging, SMS, RSS, voice and Web browsing on optimized, easy-to-use handheld
devices for a true on-the-go mobile messaging experience. Ogo was launched
by
mobile operators and Interned service providers around the world. More
information on Ogo is available at: www.ogo.com.
Forward
Looking Statements
This
press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act, with respect to ITAC's and IXI's
future financial or business performance, strategies and expectations.
Forward-looking statements are typically identified by words or phrases such
as
"trend", "potential", "opportunity", "pipeline", "believe", "comfortable,"
"expect", "anticipate", "current", "intention", "estimate", "position,"
"assume", "outlook", "continue", "remain", "maintain", "sustain", " seek, "
"achieve", and similar expressions, or future or conditional verbs such as
"will", " would", "should", "could", "may" and similar expressions.
For
additional information, please contact:
KCSA
Worldwide (Investor Relations)
Lee
Roth
/ Marybeth Csaby
212-896-1209
/ 1236
[email protected]
/
[email protected]
IXI
Mobile, Inc., 275 Shoreline Drive, Suite 505, Redwood City, California,
USA
http://www.ixi.com
Tel
+1.650.551.0600 Fax +1.650.551.0601, http://www.ogo.com
| [
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1487782-000110465919059914-tm1921833d1_ex99-2 | EX-99.2
8
tm1921833d1_ex99-2.htm
EXHIBIT 99.2
Exhibit 99.2
PACIFIC OAK ACQUIRES REVEN HOUSING VIA
MERGER
REVEN HOUSING REIT, INC. ACQUIRED
BY
PACIFIC OAK STRATEGIC OPPORTUNITY REIT, INC.
BUSINESS RELAUNCHED AS
PACIFIC OAK RESIDENTIAL TRUST, INC.
CLOSES SERIES A PREFERRED STOCK OFFERING
LOS ANGELES, CALIFORNIA, November 5, 2019
-Pacific
Oak Strategic Opportunity REIT, Inc. (formerly known as KBS Strategic Opportunity REIT, Inc.), a Maryland corporation ("SOR"),
announced today the closing of the previously announced merger of Reven Housing REIT, Inc., a Maryland corporation (the "Company"
or "Reven"), with SOR PORT, LLC, a Maryland limited liability company and an indirect, wholly-owned subsidiary of SOR,
for approximately $56.6 million in cash, or $5.13 per share of Reven common stock. At the closing of the merger, Reven became an
indirect, wholly-owned subsidiary of SOR and changed its name to "Pacific Oak Residential Trust, Inc." ("PORT").
Additionally, on November 5, 2019,
following the closing of the merger, PORT closed the previously announced offering pursuant to Rule 506(c) of Regulation D under
the Securities Act of 1933, as amended (the "Securities Act"), of newly-created 6.0% Series A Cumulative Convertible
Redeemable Preferred Stock, par value $0.001 per share (the "Series A Preferred Stock"), to its former stockholders
of record who are "accredited investors" (as defined in Rule 501(a) of Regulation D under the Securities Act). The
offering of the Series A Preferred Stock expired at 5:00 p.m., Eastern Time, on October 31, 2019. At the closing of the offering,
PORT issued and sold 15,000 shares of Series A Preferred Stock, at a price of $1,000 per share of Series A Preferred Stock, for
total gross proceeds of $15 million.
"Today marks a significant step
forward in the development of Pacific Oak's residential investment business, which we will consolidate within PORT,"
said Keith Hall, Chief Executive Officer of SOR. "The Reven transaction follows on SOR's prior single-family residential
investments, including our March investment into Battery Point Trust, Inc. Collectively, these represent the first steps in maximizing
the value of our residential investments for our shareholders".
"We are particularly pleased
with the preferred stock transaction", added Peter McMillan, SOR's Chairman of the Board. "This transaction represents
a strategic investment from a new group of Chinese investors, complementing SOR's successful prior capital raise in Israel,
as well as our successful capital raises in Singapore through Keppel Pacific Oak US REIT".
Chad Carpenter, Reven's Chairman
of the Board and Chief Executive Officer, stated, "I would like to personally thank our investors, business partners and
the Reven management team for their support as we grew Reven from the ground up to a successful public company. We are delighted
to have completed the merger with SOR, which has delivered immediate and substantial cash value to all Reven stockholders".
About Pacific Oak Strategic Opportunity
REIT, Inc.
Pacific Oak Strategic Opportunity REIT,
Inc. is a non-traded Real Estate Investment Trust (REIT) designed to provide stockholders attractive total returns through the
purchase of commercial real estate and related investments offering attractive risk-adjusted returns. SOR invests across all real
asset classes, including debt, equity, and corporate investments, targeting both developed and less liquid markets.
Forward-Looking Statements
This press release includes forward-looking statements within
the meaning of Section 27A of the Securities Act, and Section 21E of the Exchange Act. These forward-looking statements include,
but are not limited to, statements regarding SOR's intention to consolidation of the residential investment business within
PORT, and statements containing words such as "anticipate", "approximate", "believe", "plan,"
"estimate", "expect", "project", "could", "would", "should,"
"will", "intend", "may", "potential", "upside", and other similar expressions.
All statements in this Current Report that are not historical facts are forward-looking statements that reflect the best judgment
of the Company based upon currently available information.
Such forward-looking statements are inherently uncertain, and
stockholders and other potential investors must recognize that actual results may differ materially from the Company's expectations
as a result of a variety of factors, including, without limitation, those discussed below. Such forward-looking statements are
based upon management's current expectations and include known and unknown risks, uncertainties and other factors, many of
which the Company is unable to predict or control, that may cause its actual results, performance or plans to differ materially
from any future results, performance or plans expressed or implied by such forward-looking statements. These statements involve
risks, uncertainties and other factors discussed below and detailed from time to time in the Company's filings with the SEC.
Risks and uncertainties related to the proposed consolidation
of the of the residential investment business within PORT include, but are not limited to, adverse effects on the Company's
stock price resulting from the announcement of the proposed consolidation, competitive responses to the announcement of the proposed
consolidation, and any changes in general economic and/or industry-specific conditions.
In addition to the factors set forth above, other factors that
may affect the Company's plans, results or stock price are set forth in its most recent Annual Report on Form 10-K and in
its subsequently filed reports on Forms 10-Q and 8-K.
Many of these factors are beyond the Company's control.
The Company cautions investors that any forward-looking statements made by it are not guarantees of future performance. The Company
disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking
statements to reflect future events or developments.
# # #
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"November",
"5",
",",
"2019",
"-",
"Pacific",
"Oak",
"Strategic",
"Opportunity",
"REIT",
",",
"Inc",
".",
"(",
"formerly",
"known",
"as",
"KBS",
"Strategic",
"Opportunity",
"REIT",
",",
"Inc",
".",
")",
",",
"a",
"Maryland",
"corporation",
"(",
"\"",
"SOR",
"\"",
")",
",",
"announced",
"today",
"the",
"closing",
"of",
"the",
"previously",
"announced",
"merger",
"of",
"Reven",
"Housing",
"REIT",
",",
"Inc",
".",
",",
"a",
"Maryland",
"corporation",
"(",
"the",
"\"",
"Company",
"\"",
"or",
"\"",
"Reven",
"\"",
")",
",",
"with",
"SOR",
"PORT",
",",
"LLC",
",",
"a",
"Maryland",
"limited",
"liability",
"company",
"and",
"an",
"indirect",
",",
"wholly",
"-",
"owned",
"subsidiary",
"of",
"SOR",
",",
"for",
"approximately",
"$",
"56.6 million",
"in",
"cash",
",",
"or",
"$",
"5.13",
"per",
"share",
"of",
"Reven",
"common",
"stock",
".",
"At",
"the",
"closing",
"of",
"the",
"merger",
",",
"Reven",
"became",
"an",
"indirect",
",",
"wholly",
"-",
"owned",
"subsidiary",
"of",
"SOR",
"and",
"changed",
"its",
"name",
"to",
"\"",
"Pacific",
"Oak",
"Residential",
"Trust",
",",
"Inc",
".",
"\"",
"(",
"\"",
"PORT",
"\"",
")",
".",
"Additionally",
",",
"on",
"November",
"5",
",",
"2019",
",",
"following",
"the",
"closing",
"of",
"the",
"merger",
",",
"PORT",
"closed",
"the",
"previously",
"announced",
"offering",
"pursuant",
"to",
"Rule",
"506",
"(",
"c",
")",
"of",
"Regulation",
"D",
"under",
"the",
"Securities",
"Act",
"of",
"1933",
",",
"as",
"amended",
"(",
"the",
"\"",
"Securities",
"Act",
"\"",
")",
",",
"of",
"newly",
"-",
"created",
"6",
".",
"0",
"%",
"Series",
"A",
"Cumulative",
"Convertible",
"Redeemable",
"Preferred",
"Stock",
",",
"par",
"value",
"$",
"0.001",
"per",
"share",
"(",
"the",
"\"",
"Series",
"A",
"Preferred",
"Stock",
"\"",
")",
",",
"to",
"its",
"former",
"stockholders",
"of",
"record",
"who",
"are",
"\"",
"accredited",
"investors",
"\"",
"(",
"as",
"defined",
"in",
"Rule",
"501",
"(",
"a",
")",
"of",
"Regulation",
"D",
"under",
"the",
"Securities",
"Act",
")",
".",
"The",
"offering",
"of",
"the",
"Series",
"A",
"Preferred",
"Stock",
"expired",
"at",
"5",
":",
"00",
"p.m.",
",",
"Eastern",
"Time",
",",
"on",
"October",
"31",
",",
"2019",
".",
"At",
"the",
"closing",
"of",
"the",
"offering",
",",
"PORT",
"issued",
"and",
"sold",
"15,000",
"shares",
"of",
"Series",
"A",
"Preferred",
"Stock",
",",
"at",
"a",
"price",
"of",
"$",
"1,000",
"per",
"share",
"of",
"Series",
"A",
"Preferred",
"Stock",
",",
"for",
"total",
"gross",
"proceeds",
"of",
"$",
"15 million",
".",
"\"",
"Today",
"marks",
"a",
"significant",
"step",
"forward",
"in",
"the",
"development",
"of",
"Pacific",
"Oak",
"'s",
"residential",
"investment",
"business",
",",
"which",
"we",
"will",
"consolidate",
"within",
"PORT",
",",
"\"",
"said",
"Keith",
"Hall",
",",
"Chief",
"Executive",
"Officer",
"of",
"SOR",
".",
"\"",
"The",
"Reven",
"transaction",
"follows",
"on",
"SOR",
"'s",
"prior",
"single",
"-",
"family",
"residential",
"investments",
",",
"including",
"our",
"March",
"investment",
"into",
"Battery",
"Point",
"Trust",
",",
"Inc",
".",
"Collectively",
",",
"these",
"represent",
"the",
"first",
"steps",
"in",
"maximizing",
"the",
"value",
"of",
"our",
"residential",
"investments",
"for",
"our",
"shareholders",
"\"",
".",
"\"",
"We",
"are",
"particularly",
"pleased",
"with",
"the",
"preferred",
"stock",
"transaction",
"\"",
",",
"added",
"Peter",
"McMillan",
",",
"SOR",
"'s",
"Chairman",
"of",
"the",
"Board",
".",
"\"",
"This",
"transaction",
"represents",
"a",
"strategic",
"investment",
"from",
"a",
"new",
"group",
"of",
"Chinese",
"investors",
",",
"complementing",
"SOR",
"'s",
"successful",
"prior",
"capital",
"raise",
"in",
"Israel",
",",
"as",
"well",
"as",
"our",
"successful",
"capital",
"raises",
"in",
"Singapore",
"through",
"Keppel",
"Pacific",
"Oak",
"US",
"REIT",
"\"",
".",
"Chad",
"Carpenter",
",",
"Reven",
"'s",
"Chairman",
"of",
"the",
"Board",
"and",
"Chief",
"Executive",
"Officer",
",",
"stated",
",",
"\"",
"I",
"would",
"like",
"to",
"personally",
"thank",
"our",
"investors",
",",
"business",
"partners",
"and",
"the",
"Reven",
"management",
"team",
"for",
"their",
"support",
"as",
"we",
"grew",
"Reven",
"from",
"the",
"ground",
"up",
"to",
"a",
"successful",
"public",
"company",
".",
"We",
"are",
"delighted",
"to",
"have",
"completed",
"the",
"merger",
"with",
"SOR",
",",
"which",
"has",
"delivered",
"immediate",
"and",
"substantial",
"cash",
"value",
"to",
"all",
"Reven",
"stockholders",
"\"",
".",
"About",
"Pacific",
"Oak",
"Strategic",
"Opportunity",
"REIT",
",",
"Inc",
".",
"Pacific",
"Oak",
"Strategic",
"Opportunity",
"REIT",
",",
"Inc",
".",
"is",
"a",
"non",
"-",
"traded",
"Real",
"Estate",
"Investment",
"Trust",
"(",
"REIT",
")",
"designed",
"to",
"provide",
"stockholders",
"attractive",
"total",
"returns",
"through",
"the",
"purchase",
"of",
"commercial",
"real",
"estate",
"and",
"related",
"investments",
"offering",
"attractive",
"risk",
"-",
"adjusted",
"returns",
".",
"SOR",
"invests",
"across",
"all",
"real",
"asset",
"classes",
",",
"including",
"debt",
",",
"equity",
",",
"and",
"corporate",
"investments",
",",
"targeting",
"both",
"developed",
"and",
"less",
"liquid",
"markets",
".",
"Forward",
"-",
"Looking",
"Statements",
"This",
"press",
"release",
"includes",
"forward",
"-",
"looking",
"statements",
"within",
"the",
"meaning",
"of",
"Section",
"27A",
"of",
"the",
"Securities",
"Act",
",",
"and",
"Section",
"21E",
"of",
"the",
"Exchange",
"Act",
".",
"These",
"forward",
"-",
"looking",
"statements",
"include",
",",
"but",
"are",
"not",
"limited",
"to",
",",
"statements",
"regarding",
"SOR",
"'s",
"intention",
"to",
"consolidation",
"of",
"the",
"residential",
"investment",
"business",
"within",
"PORT",
",",
"and",
"statements",
"containing",
"words",
"such",
"as",
"\"",
"anticipate",
"\"",
",",
"\"",
"approximate",
"\"",
",",
"\"",
"believe",
"\"",
",",
"\"",
"plan",
",",
"\"",
"\"",
"estimate",
"\"",
",",
"\"",
"expect",
"\"",
",",
"\"",
"project",
"\"",
",",
"\"",
"could",
"\"",
",",
"\"",
"would",
"\"",
",",
"\"",
"should",
",",
"\"",
"\"",
"will",
"\"",
",",
"\"",
"intend",
"\"",
",",
"\"",
"may",
"\"",
",",
"\"",
"potential",
"\"",
",",
"\"",
"upside",
"\"",
",",
"and",
"other",
"similar",
"expressions",
".",
"All",
"statements",
"in",
"this",
"Current",
"Report",
"that",
"are",
"not",
"historical",
"facts",
"are",
"forward",
"-",
"looking",
"statements",
"that",
"reflect",
"the",
"best",
"judgment",
"of",
"the",
"Company",
"based",
"upon",
"currently",
"available",
"information",
".",
"Such",
"forward",
"-",
"looking",
"statements",
"are",
"inherently",
"uncertain",
",",
"and",
"stockholders",
"and",
"other",
"potential",
"investors",
"must",
"recognize",
"that",
"actual",
"results",
"may",
"differ",
"materially",
"from",
"the",
"Company",
"'s",
"expectations",
"as",
"a",
"result",
"of",
"a",
"variety",
"of",
"factors",
",",
"including",
",",
"without",
"limitation",
",",
"those",
"discussed",
"below",
".",
"Such",
"forward",
"-",
"looking",
"statements",
"are",
"based",
"upon",
"management",
"'s",
"current",
"expectations",
"and",
"include",
"known",
"and",
"unknown",
"risks",
",",
"uncertainties",
"and",
"other",
"factors",
",",
"many",
"of",
"which",
"the",
"Company",
"is",
"unable",
"to",
"predict",
"or",
"control",
",",
"that",
"may",
"cause",
"its",
"actual",
"results",
",",
"performance",
"or",
"plans",
"to",
"differ",
"materially",
"from",
"any",
"future",
"results",
",",
"performance",
"or",
"plans",
"expressed",
"or",
"implied",
"by",
"such",
"forward",
"-",
"looking",
"statements",
".",
"These",
"statements",
"involve",
"risks",
",",
"uncertainties",
"and",
"other",
"factors",
"discussed",
"below",
"and",
"detailed",
"from",
"time",
"to",
"time",
"in",
"the",
"Company",
"'s",
"filings",
"with",
"the",
"SEC",
".",
"Risks",
"and",
"uncertainties",
"related",
"to",
"the",
"proposed",
"consolidation",
"of",
"the",
"of",
"the",
"residential",
"investment",
"business",
"within",
"PORT",
"include",
",",
"but",
"are",
"not",
"limited",
"to",
",",
"adverse",
"effects",
"on",
"the",
"Company",
"'s",
"stock",
"price",
"resulting",
"from",
"the",
"announcement",
"of",
"the",
"proposed",
"consolidation",
",",
"competitive",
"responses",
"to",
"the",
"announcement",
"of",
"the",
"proposed",
"consolidation",
",",
"and",
"any",
"changes",
"in",
"general",
"economic",
"and",
"/",
"or",
"industry",
"-",
"specific",
"conditions",
".",
"In",
"addition",
"to",
"the",
"factors",
"set",
"forth",
"above",
",",
"other",
"factors",
"that",
"may",
"affect",
"the",
"Company",
"'s",
"plans",
",",
"results",
"or",
"stock",
"price",
"are",
"set",
"forth",
"in",
"its",
"most",
"recent",
"Annual",
"Report",
"on",
"Form",
"10",
"-",
"K",
"and",
"in",
"its",
"subsequently",
"filed",
"reports",
"on",
"Forms",
"10",
"-",
"Q",
"and",
"8",
"-",
"K",
".",
"Many",
"of",
"these",
"factors",
"are",
"beyond",
"the",
"Company",
"'s",
"control",
".",
"The",
"Company",
"cautions",
"investors",
"that",
"any",
"forward",
"-",
"looking",
"statements",
"made",
"by",
"it",
"are",
"not",
"guarantees",
"of",
"future",
"performance",
".",
"The",
"Company",
"disclaims",
"any",
"obligation",
"to",
"update",
"any",
"such",
"factors",
"or",
"to",
"announce",
"publicly",
"the",
"results",
"of",
"any",
"revisions",
"to",
"any",
"of",
"the",
"forward",
"-",
"looking",
"statements",
"to",
"reflect",
"future",
"events",
"or",
"developments",
".",
"#",
"#",
"#"
] | [
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"B-Parties.BUYING_COMPANY",
"I-Parties.BUYING_COMPANY",
"O",
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"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
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"O",
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"O",
"O",
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"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"B-Parties.BUYING_COMPANY",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
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"O",
"O",
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"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
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"O",
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"O",
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"O",
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"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
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"O",
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"O",
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"O",
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] |
1353970-000107997311000377-ex99x1 | EX-99.1
3
ex99x1.htm
EXHIBIT 99.1
ex99x1.htm
Exhibit 99.1
FOR IMMEDIATE RELEASE
China XD Plastics Announces Signing of Land and Construction Project Purchase Agreement to Support Its Capacity Growth Plan
HARBIN, China, May 9, 2011
- China XD Plastics Company Limited ("China XD Plastics" or the "Company"), (Nasdaq:
CXDC
), one of the leading Chinese manufacturers engaged in the development, manufacture, and distribution of modified plastics primarily for use in automotive applications in China, today announced that its subsidiary, Harbin Xinda Macromolecule Material Co. Ltd. ("Harbin Xinda"), entered into a land use right and construction project purchase agreement (the "Agreement") to purchase the land use rights to an aggregate of 198,913.7 square meters (approximately 50 acres) located in South Harbin Industrial Park, PRC (the "Property"), and construction project currently in process on the Property, for an aggregate purchase price of RMB94.99 million (approximately U.S. $14.6 million).
The Property pertaining to the Agreement was subject to repossession by the Harbin government due to a funding shortage of its current land use owner, Harbin Shengtong Engineering Plastics Co. Ltd. ("Harbin Shengtong"). In order to further support Harbin Xinda's development, the Harbin government of Harbin Development District has facilitated the transaction and Harbin Shengtong has agreed to sell the Property to Harbin Xinda at a purchase price that is more than 20% below the appraised market value of the land.
According to the Agreement, Harbin Xinda shall pay for the Property in three installments. The first installment of RMB 35 million (approximately US$5.4 million) shall be made five (5) business days after signing of the Agreement. The second installment of RMB 41 million (approximately US$6.3 million) shall be made by June 20, 2011 and the last installment of RMB 19 million (approximately US $2.9 million) shall be made before October 30, 2011; provided that by such time Harbin Shengtong has completed the title transfer of all land use rights to Harbin Xinda.
China XD Plastics' management shall determine the construction design plans, as well as the budget, based on the existing construction project on the land, for the new plant and the new research center, and expects to submit the plans and the budget to its board of directors by the end of May 2011 for board approval.
"The signing of this land purchase agreement is a significant milestone for our long term growth strategy and a solid step towards achieving our capacity expansion plan", commented Mr. Jie Han, Chairman of China XD Plastics. "With this new asset in place, the Company will have a sufficiently expanded platform in place to realize the resource integration, equipment upgrade, and steady capacity expansion needed to fully benefit from the rapid growth of modified plastics used in automotive applications including those in the alternative energy vehicles, a key element of our long-term strategy".
About China XD Plastics Company Limited
China XD Plastics Company Limited, through its wholly owned subsidiary, Harbin Xinda Macromolecule Material ("Xinda"), develops, manufactures, and distributes modified plastics, primarily for automotive applications. The Company's specialized plastics are used in the exterior and interior trim and in the functional components of more than 60 automobile brands manufactured in China including Audi, Red Flag, Volkswagen and Mazda. The Company's wholly-owned research center is dedicated to the research and development of modified plastics, and benefits from the cooperation with well-known scientists from prestigious universities in China. As of December 31, 2010, 177 of Xinda's products have been certified for use by one or more of the automobile manufacturers in China. For more information please visit
http://www.chinaxd.net
.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's ability to raise additional capital to finance the Company's activities; the effectiveness, profitability, and the marketability of its products; legal and regulatory risks associated with the Company's business and operations; the Company's ability to successfully expand its production capacity; the future trading of the common stock of the Company; the Company's ability to operate as a public company; the period of time for which its current liquidity will enable the Company to fund its operations; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Securities and Exchange Commission and available on its website at
http://www.sec.gov
. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
Contacts:
China XD Plastics Company Limited
Mr. Taylor Zhang, CFO
Phone: +1-212-747-1118 (New York)
Mr. Tienan Han, IR Manager
Phone: +86-451-8434-6600 (Harbin)
Email: [email protected]
Taylor Rafferty (US):
Bryan Degnan
+1-212-889-4350
ChinaXD@
Taylor-Rafferty.com
Taylor Rafferty (HK):
Mahmoud Siddig, Managing Director
+852-3196-3712
[email protected]
| [
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1404593-000100201410000037-exh992 | EX-99.2
3
exh992.htm
PRESS RELEASE DATED JANUARY 11, 2010.
exh992.htm
Exhibit 99.2
FOR IMMEDIATE RELEASE
MEDICAL CARE TECHNOLOGIES INC. SIGNS ASSET ACQUISITION AGREEMENT
LONDON, ENGLAND - January 11, 2010
-
Medical Care Technologies Inc. (OTCBB: MDCE)
today announced that it has reached a definitive agreement to acquire various technologies from Great Union Corporation, ("GUC")
a private Hong Kong corporation.
The Boards of Directors of both companies have unanimously approved the transaction.
Pursuant to the Agreement, and in consideration of 57,300,000 of its common stock, MDCE will acquire GUC's technologies associated with the development and maintenance of secure information systems which increase access to medical resources services, education and wellness, pharmaceutical and nutriceutical products. The
transaction is subject to customary closing conditions.
Management believes that the acquisition is a significant step in MDCE's strategy to enter into China's lucrative health care market. With life expectancy of the Chinese population gradually increasing, and as China's population becomes wealthier, patients are demanding better lifestyles and better quality care.
According to the
US World Nutraceutical Ingredients Industry,
it states that the "World demand for nutrients and minerals is projected to reach $12.6 billion in 2013, it too has predicted that China and India will emerge as the most rapidly expanding nutraceutical ingredient markets
as strong economic growth allows them to upgrade and diversify food, beverage and drug production capabilities." It also goes on to state, that "China will remain the largest worldwide producer based on its extensive fine chemicals industry and aggressive pursuit of exports".
In China alone nutriceutical sales are estimated to be worth approximately $6 billion in annual sales, according to the China Health Care Association, which is an association attached to China's Ministry of Health. Although the industry is young compared with the U.S., and about one-fourth its size, the potential for sizeable growth
is significant due to China's rapid economic growth and increasing consumer demand for natural products that promote health and overall wellness.
Patricia Traczykowski, President of MDCE goes on to state, "I am very excited for our shareholders and for the Company with our most recent acquisition. It is an acquisition which will allow us to target an expanding healthcare segment and will allow us to venture into a country like China which is full of opportunities. Our
values will be simple, using technology to provide better health. We plan to
offer affordable, standardized and secure software information systems to electronically connect Healthcare Providers, Academic Institutions, Pharmaceutical and Nutraceutical Companies, Alternative Health Industries, and Individual Consumers with healthcare information, products and services in China. Initially, we aim to generate e-management
revenues and nutraceutical and pharmaceutical product distribution revenues. Concurrent with and in addition to our main revenue streams, we hope to add to our bottom line through content licensing fees, email marketing revenues and e-commerce".
Management intends to immediately begin the process of integrating its technology, services and products into Asia once the registration of the share transfer is completed and it has obtained transfer of the assets, all as contemplated by the Asset Acquisition Agreement.
About Medical Care Technologies Inc.
Medical Care Technologies Inc. (
www.medicaretech.com
) is traded under the symbol MDCE on the OTCBB and is based in London, England. The Company is in the process of moving its portfolio of oil resources into medical care technologies. The products/services
that the company hopes to acquire are intended will constitute a healthcare delivery and wellness site; dedicated to helping Asian consumers live healthier, more balanced lives. MDCE is planning to provide advanced connectivity, internationally standardized and secure business, technology and information systems to assist the Asian health industry - physicians, pharmacists, medical institutions, consumers - access medical resources, health services, education, wellness and pharmaceutical products
throughout Asia. MDCE is planning to distribute and provide services at a diverse range of industry-leading product lines in three segments: Medical Devices, Pharmaceuticals and Nutriceuticals. Further information on the Company can be found at
www.sec.gov
and the company's website at
www.medicaretech.com
Safe Harbor Statement
All statements contained in this press release, other than statements of historical fact, are forward-looking statements, including those regarding: MDCE's products, services, capabilities, performance, opportunities, development and business outlook, guidance on our future financial
results and other projections or measures of our future performance; the amount and timing of the benefits expected from strategic initiatives and acquisitions or from deployment of new or updated technologies, products, services or applications; and other potential sources of additional revenue. These statements are based on our current plans and expectations and involve risks and uncertainties that could cause actual future events or results to be different than those described in or implied by such forward-looking
statements. These risks and uncertainties include those relating to: lack of operating history, transitioning from a development company to an operating company, difficulties in distinguishing MDCE's products and services, ability to deploy MDCE's services and products, market acceptance of our products and services; operational difficulties relating to combining acquired companies and businesses; our ability to form and maintain mutually beneficial relationships with customers and strategic partners;
changes in economic, political or regulatory conditions or other trends affecting the healthcare, Internet, information technology and healthcare and pharmaceutical industries, and our ability to attract and retain qualified personnel. Other risks and uncertainties may include, but are not limited to: lack of or delay in market acceptance and fluctuations in customer demand, dependence on a limited number of significant customers, reliance on third party vendors and strategic partners, ability to meet future
capital requirements on acceptable terms, continuing uncertainty in the global economy, and compliance with federal and state regulatory requirement. Further information about these matters can be found in our Securities and Exchange Commission filings. We expressly disclaim any intent or obligation to update these forward-looking statements. There can be no assurance that the acquisition of GUC's assets will close. MDCE must issue 57,300,000 shares of its common stock to
GUC, or GUC's designees in order to close the acquisition. Accounting for the anticipates cancelation of 57,300,000 shares by Patricia Traczykowski, MDCE will have 98,900,000 shares of it common stock issued and outstanding upon the closing of the acquisition.
For Further Information:
Ezra Smith
C. Jones Consulting, Inc.
Tel: (727) 771-9500
Fax: (727) 771-9545
Email:
[email protected]
Web: www.cjonesconsulting.com
| [
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".",
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"Further",
"information",
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"can",
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"and",
"Exchange",
"Commission",
"filings",
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"For",
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":",
"Ezra",
"Smith",
"C",
".",
"Jones",
"Consulting",
",",
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".",
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"727",
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"771",
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"9500",
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"(",
"727",
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"771",
"-",
"9545",
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":",
"[email protected]",
"Web",
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"www.cjonesconsulting.com"
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1417663-000165495420008960-snwv_ex991 | EX-99.1
15
snwv_ex991.htm
PRESS RELEASE ISSUED ON AUGUST 10, 2020
snwv_ex991
Exhibit 99.1
SANUWAVE HEALTH COMPLETES ACQUISITION OF
THE WOUND CARE ASSETS OF CELULARITY
CONFERENCE CALL SCHEDULED FOR WEDNESDAY 1 P.M. EDT
SUWANEE, GA, August 10, 2020 - SANUWAVE Health,
Inc. (OTCQB: SNWV) today announced that it has completed the
acquisition of the wound care assets of Celularity, consisting of
the UltraMIST® Ultrasound Healing Therapy assets and
partnership rights for Celularity's wound care biologic
products.
The funding for the acquisition consisted of a mix of funded term
debt, a seller note, and equity in the form of a private placement.
The private placement generated gross proceeds of approximately $24
million through the issuance of 119,125,000 shares of common stock
and accompanying warrants to purchase up to an equal number of
shares of common stock at a purchase price of $0.20 per share of
common stock and accompanying warrants.
The warrants will be exercisable immediately at an
exercise price of $0.25 per share and will expire three years after
the date of issuance. Over
60% of the private placement was purchased by existing investors
and insiders, and the remainder was purchased by certain healthcare
focused institutional and accredited investors.
H.C Wainwright & Co. acted as the exclusive placement agent for
the private placement. Lake Street Capital Markets acted as
financial advisor for the acquisition and the private
placement.
William Blair & Company acted as the sole placement agent of
the debt financing.
The acquisition is expected to be a transformative event for
SANUWAVE and represents a strategically and financially compelling
growth opportunity for the company. The transaction broadens
SANUWAVE's addressable market and combines two highly
complementary energy transfer technologies with two biologic skin
substitute products to create a platform of scale with an
end-to-end product offering in the advanced wound care market.
Furthermore, it uniquely positions SANUWAVE to address the entire
advanced wound care patient pathway from the initial stages of
treatment to closure. The treatment combination of the
UltraMIST® and the dermaPACE® System creates a
significant opportunity to demonstrate improved patient outcomes
over the current standard of care, initially for diabetic foot
ulcers and across all wound indications in the future.
SANUWAVE
will conduct an investor teleconference at 1:00 p.m. EDT on
Wednesday, August 12, 2020. A separate press release will be issued
providing the conference call information. More details regarding
the acquisition and the future plans will be shared and detailed on
the call.
About SANUWAVE Health, Inc.
SANUWAVE Health, Inc. (OTCQB:SNWV) (www.SANUWAVE.com)
is a shockwave technology company initially focused on the
development and commercialization of patented noninvasive,
biological response activating devices for the repair and
regeneration of skin, musculoskeletal tissue and vascular
structures. SANUWAVE's portfolio of regenerative medicine
products and product candidates activate biologic signaling and
angiogenic responses, producing new vascularization and
microcirculatory improvement, which helps restore the body's
normal healing processes and regeneration. SANUWAVE applies its
patented PACE®
technology in wound healing,
orthopedic/spine, plastic/cosmetic and cardiac conditions. Its lead
product candidate for the global wound care market,
dermaPACE®,
is US FDA cleared for the treatment of Diabetic Foot Ulcers.
The device is also CE Marked throughout Europe and has device
license approval for the treatment of the skin and subcutaneous
soft tissue in Canada, South Korea, Australia and New Zealand.
SANUWAVE researches, designs, manufactures, markets and services
its products worldwide, and believes it has demonstrated that its
technology is safe and effective in stimulating healing in chronic
conditions of the foot (plantar fasciitis) and the elbow (lateral
epicondylitis) through its U.S. Class III PMA approved
OssaTron® device,
as well as stimulating bone and chronic tendonitis regeneration in
the musculoskeletal environment through the utilization of its
OssaTron, Evotron® and
orthoPACE® devices
in Europe, Asia and Asia/Pacific. In addition, there are
license/partnership opportunities for SANUWAVE's shockwave
technology for non-medical uses, including energy, water, food and
industrial markets.
About Celularity Inc.
Celularity, headquartered in Warren, N.J., is a clinical-stage cell
therapeutics company delivering transformative allogeneic cellular
therapies derived from the postpartum human placenta. Using
proprietary technology in combination with its IMPACT™
platform, Celularity is the only company harnessing the purity and
versatility of placental-derived cells to develop and manufacture
innovative and highly scalable off-the-shelf treatments for
patients with cancer, inflammatory, infectious, and age-related
diseases. To learn more, please visit
www.celularity.com.
Forward-Looking Statements
This press release may contain "forward-looking
statements" within the meaning of the Private Securities
Litigation Reform Act of 1995, such as statements relating to
financial results and plans for future business development
activities and are thus prospective. Forward-looking statements
include all statements that are not statements of historical fact
regarding intent, belief or current expectations of SANUWAVE
Health, Inc. (the "Company"), its directors or its
officers, including, without limitation, any statements regarding
any expected benefits of the acquisition and its impact on the
Company. Investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties, many of which are beyond the
Company's ability to control. Actual results may differ
materially from those projected in the forward-looking statements.
Among the key risks, assumptions and factors that may affect
operating results, performance and financial condition are risks
associated with the regulatory approval and marketing of the
Company's product candidates and products, unproven
pre-clinical and clinical development activities, regulatory
oversight, the Company's ability to manage its capital
resource issues, competition, and the other factors discussed in
detail in the Company's periodic filings with the Securities
and Exchange Commission. The Company undertakes no obligation to
update any forward-looking statement.
For additional information about the Company, visit
www.sanuwave.com
.
Contact:
Millennium
Park Capital LLC
Christopher
Wynne
312-724-7845
[email protected]
SANUWAVE
Health, Inc.
Kevin
Richardson II
CEO and
Chairman of the Board
978-922-2447
[email protected]
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"August",
"10",
",",
"2020",
"-",
"SANUWAVE",
"Health",
",",
"Inc",
".",
"(",
"OTCQB",
":",
"SNWV",
")",
"today",
"announced",
"that",
"it",
"has",
"completed",
"the",
"acquisition",
"of",
"the",
"wound",
"care",
"assets",
"of",
"Celularity",
",",
"consisting",
"of",
"the",
"UltraMIST",
"®",
"Ultrasound",
"Healing",
"Therapy",
"assets",
"and",
"partnership",
"rights",
"for",
"Celularity",
"'s",
"wound",
"care",
"biologic",
"products",
".",
"The",
"funding",
"for",
"the",
"acquisition",
"consisted",
"of",
"a",
"mix",
"of",
"funded",
"term",
"debt",
",",
"a",
"seller",
"note",
",",
"and",
"equity",
"in",
"the",
"form",
"of",
"a",
"private",
"placement",
".",
"The",
"private",
"placement",
"generated",
"gross",
"proceeds",
"of",
"approximately",
"$",
"24",
"million",
"through",
"the",
"issuance",
"of",
"119,125,000",
"shares",
"of",
"common",
"stock",
"and",
"accompanying",
"warrants",
"to",
"purchase",
"up",
"to",
"an",
"equal",
"number",
"of",
"shares",
"of",
"common",
"stock",
"at",
"a",
"purchase",
"price",
"of",
"$",
"0.20",
"per",
"share",
"of",
"common",
"stock",
"and",
"accompanying",
"warrants",
".",
"The",
"warrants",
"will",
"be",
"exercisable",
"immediately",
"at",
"an",
"exercise",
"price",
"of",
"$",
"0.25",
"per",
"share",
"and",
"will",
"expire",
"three",
"years",
"after",
"the",
"date",
"of",
"issuance",
".",
"Over",
"60",
"%",
"of",
"the",
"private",
"placement",
"was",
"purchased",
"by",
"existing",
"investors",
"and",
"insiders",
",",
"and",
"the",
"remainder",
"was",
"purchased",
"by",
"certain",
"healthcare",
"focused",
"institutional",
"and",
"accredited",
"investors",
".",
"H",
".",
"C",
"Wainwright",
"&",
"Co",
".",
"acted",
"as",
"the",
"exclusive",
"placement",
"agent",
"for",
"the",
"private",
"placement",
".",
"Lake",
"Street",
"Capital",
"Markets",
"acted",
"as",
"financial",
"advisor",
"for",
"the",
"acquisition",
"and",
"the",
"private",
"placement",
".",
"William",
"Blair",
"&",
"Company",
"acted",
"as",
"the",
"sole",
"placement",
"agent",
"of",
"the",
"debt",
"financing",
".",
"The",
"acquisition",
"is",
"expected",
"to",
"be",
"a",
"transformative",
"event",
"for",
"SANUWAVE",
"and",
"represents",
"a",
"strategically",
"and",
"financially",
"compelling",
"growth",
"opportunity",
"for",
"the",
"company",
".",
"The",
"transaction",
"broadens",
"SANUWAVE",
"'s",
"addressable",
"market",
"and",
"combines",
"two",
"highly",
"complementary",
"energy",
"transfer",
"technologies",
"with",
"two",
"biologic",
"skin",
"substitute",
"products",
"to",
"create",
"a",
"platform",
"of",
"scale",
"with",
"an",
"end",
"-",
"to",
"-",
"end",
"product",
"offering",
"in",
"the",
"advanced",
"wound",
"care",
"market",
".",
"Furthermore",
",",
"it",
"uniquely",
"positions",
"SANUWAVE",
"to",
"address",
"the",
"entire",
"advanced",
"wound",
"care",
"patient",
"pathway",
"from",
"the",
"initial",
"stages",
"of",
"treatment",
"to",
"closure",
".",
"The",
"treatment",
"combination",
"of",
"the",
"UltraMIST",
"®",
"and",
"the",
"dermaPACE",
"®",
"System",
"creates",
"a",
"significant",
"opportunity",
"to",
"demonstrate",
"improved",
"patient",
"outcomes",
"over",
"the",
"current",
"standard",
"of",
"care",
",",
"initially",
"for",
"diabetic",
"foot",
"ulcers",
"and",
"across",
"all",
"wound",
"indications",
"in",
"the",
"future",
".",
"SANUWAVE",
"will",
"conduct",
"an",
"investor",
"teleconference",
"at",
"1",
":",
"00",
"p.m.",
"EDT",
"on",
"Wednesday",
",",
"August",
"12",
",",
"2020",
".",
"A",
"separate",
"press",
"release",
"will",
"be",
"issued",
"providing",
"the",
"conference",
"call",
"information",
".",
"More",
"details",
"regarding",
"the",
"acquisition",
"and",
"the",
"future",
"plans",
"will",
"be",
"shared",
"and",
"detailed",
"on",
"the",
"call",
".",
"About",
"SANUWAVE",
"Health",
",",
"Inc",
".",
"SANUWAVE",
"Health",
",",
"Inc",
".",
"(",
"OTCQB",
":",
"SNWV",
")",
"(",
"www.SANUWAVE.com",
")",
"is",
"a",
"shockwave",
"technology",
"company",
"initially",
"focused",
"on",
"the",
"development",
"and",
"commercialization",
"of",
"patented",
"noninvasive",
",",
"biological",
"response",
"activating",
"devices",
"for",
"the",
"repair",
"and",
"regeneration",
"of",
"skin",
",",
"musculoskeletal",
"tissue",
"and",
"vascular",
"structures",
".",
"SANUWAVE",
"'s",
"portfolio",
"of",
"regenerative",
"medicine",
"products",
"and",
"product",
"candidates",
"activate",
"biologic",
"signaling",
"and",
"angio",
"genic",
"responses",
",",
"producing",
"new",
"vascularization",
"and",
"micro",
"circulatory",
"improvement",
",",
"which",
"helps",
"restore",
"the",
"body",
"'s",
"normal",
"healing",
"processes",
"and",
"regeneration",
".",
"SANUWAVE",
"applies",
"its",
"patented",
"PACE",
"®",
"technology",
"in",
"wound",
"healing",
",",
"orthopedic",
"/",
"spine",
",",
"plastic",
"/",
"cosmetic",
"and",
"cardiac",
"conditions",
".",
"Its",
"lead",
"product",
"candidate",
"for",
"the",
"global",
"wound",
"care",
"market",
",",
"dermaPACE",
"®",
",",
"is",
"US",
"FDA",
"cleared",
"for",
"the",
"treatment",
"of",
"Diabetic",
"Foot",
"Ulcers",
".",
"The",
"device",
"is",
"also",
"CE",
"Marked",
"throughout",
"Europe",
"and",
"has",
"device",
"license",
"approval",
"for",
"the",
"treatment",
"of",
"the",
"skin",
"and",
"subcutaneous",
"soft",
"tissue",
"in",
"Canada",
",",
"South",
"Korea",
",",
"Australia",
"and",
"New",
"Zealand",
".",
"SANUWAVE",
"researches",
",",
"designs",
",",
"manufactures",
",",
"markets",
"and",
"services",
"its",
"products",
"worldwide",
",",
"and",
"believes",
"it",
"has",
"demonstrated",
"that",
"its",
"technology",
"is",
"safe",
"and",
"effective",
"in",
"stimulating",
"healing",
"in",
"chronic",
"conditions",
"of",
"the",
"foot",
"(",
"plantar",
"fasciitis",
")",
"and",
"the",
"elbow",
"(",
"lateral",
"epicondylitis",
")",
"through",
"its",
"U",
".",
"S",
".",
"Class",
"III",
"PMA",
"approved",
"OssaTron",
"®",
"device",
",",
"as",
"well",
"as",
"stimulating",
"bone",
"and",
"chronic",
"tendonitis",
"regeneration",
"in",
"the",
"musculoskeletal",
"environment",
"through",
"the",
"utilization",
"of",
"its",
"OssaTron",
",",
"Evotron",
"®",
"and",
"orthoPACE",
"®",
"devices",
"in",
"Europe",
",",
"Asia",
"and",
"Asia",
"/",
"Pacific",
".",
"In",
"addition",
",",
"there",
"are",
"license",
"/",
"partnership",
"opportunities",
"for",
"SANUWAVE",
"'s",
"shockwave",
"technology",
"for",
"non",
"-",
"medical",
"uses",
",",
"including",
"energy",
",",
"water",
",",
"food",
"and",
"industrial",
"markets",
".",
"About",
"Celularity",
"Inc",
".",
"Celularity",
",",
"headquartered",
"in",
"Warren",
",",
"N",
".",
"J",
".",
",",
"is",
"a",
"clinical",
"-",
"stage",
"cell",
"therapeutics",
"company",
"delivering",
"transformative",
"allogeneic",
"cellular",
"therapies",
"derived",
"from",
"the",
"postpartum",
"human",
"placenta",
".",
"Using",
"proprietary",
"technology",
"in",
"combination",
"with",
"its",
"IMPACT",
"™",
"platform",
",",
"Celularity",
"is",
"the",
"only",
"company",
"harnessing",
"the",
"purity",
"and",
"versatility",
"of",
"placental",
"-",
"derived",
"cells",
"to",
"develop",
"and",
"manufacture",
"innovative",
"and",
"highly",
"scalable",
"off",
"-",
"the",
"-",
"shelf",
"treatments",
"for",
"patients",
"with",
"cancer",
",",
"inflammatory",
",",
"infectious",
",",
"and",
"age",
"-",
"related",
"diseases",
".",
"To",
"learn",
"more",
",",
"please",
"visit",
"www.celularity.com",
".",
"Forward",
"-",
"Looking",
"Statements",
"This",
"press",
"release",
"may",
"contain",
"\"",
"forward",
"-",
"looking",
"statements",
"\"",
"within",
"the",
"meaning",
"of",
"the",
"Private",
"Securities",
"Litigation",
"Reform",
"Act",
"of",
"1995",
",",
"such",
"as",
"statements",
"relating",
"to",
"financial",
"results",
"and",
"plans",
"for",
"future",
"business",
"development",
"activities",
"and",
"are",
"thus",
"prospective",
".",
"Forward",
"-",
"looking",
"statements",
"include",
"all",
"statements",
"that",
"are",
"not",
"statements",
"of",
"historical",
"fact",
"regarding",
"intent",
",",
"belief",
"or",
"current",
"expectations",
"of",
"SANUWAVE",
"Health",
",",
"Inc",
".",
"(",
"the",
"\"",
"Company",
"\"",
")",
",",
"its",
"directors",
"or",
"its",
"officers",
",",
"including",
",",
"without",
"limitation",
",",
"any",
"statements",
"regarding",
"any",
"expected",
"benefits",
"of",
"the",
"acquisition",
"and",
"its",
"impact",
"on",
"the",
"Company",
".",
"Investors",
"are",
"cautioned",
"that",
"any",
"such",
"forward",
"-",
"looking",
"statements",
"are",
"not",
"guarantees",
"of",
"future",
"performance",
"and",
"involve",
"risks",
"and",
"uncertainties",
",",
"many",
"of",
"which",
"are",
"beyond",
"the",
"Company",
"'s",
"ability",
"to",
"control",
".",
"Actual",
"results",
"may",
"differ",
"materially",
"from",
"those",
"projected",
"in",
"the",
"forward",
"-",
"looking",
"statements",
".",
"Among",
"the",
"key",
"risks",
",",
"assumptions",
"and",
"factors",
"that",
"may",
"affect",
"operating",
"results",
",",
"performance",
"and",
"financial",
"condition",
"are",
"risks",
"associated",
"with",
"the",
"regulatory",
"approval",
"and",
"marketing",
"of",
"the",
"Company",
"'s",
"product",
"candidates",
"and",
"products",
",",
"unproven",
"pre",
"-",
"clinical",
"and",
"clinical",
"development",
"activities",
",",
"regulatory",
"oversight",
",",
"the",
"Company",
"'s",
"ability",
"to",
"manage",
"its",
"capital",
"resource",
"issues",
",",
"competition",
",",
"and",
"the",
"other",
"factors",
"discussed",
"in",
"detail",
"in",
"the",
"Company",
"'s",
"periodic",
"filings",
"with",
"the",
"Securities",
"and",
"Exchange",
"Commission",
".",
"The",
"Company",
"undertakes",
"no",
"obligation",
"to",
"update",
"any",
"forward",
"-",
"looking",
"statement",
".",
"For",
"additional",
"information",
"about",
"the",
"Company",
",",
"visit",
"www.sanuwave.com",
".",
"Contact",
":",
"Millennium",
"Park",
"Capital",
"LLC",
"Christopher",
"Wynne",
"312",
"-",
"724",
"-",
"7845",
"[email protected]",
"SANUWAVE",
"Health",
",",
"Inc",
".",
"Kevin",
"Richardson",
"II",
"CEO",
"and",
"Chairman",
"of",
"the",
"Board",
"978",
"-",
"922",
"-",
"2447",
"[email protected]"
] | [
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"B-Parties.BUYING_COMPANY",
"I-Parties.BUYING_COMPANY",
"O",
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"O",
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"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
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"O",
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"O",
"O",
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"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"B-Advisors.GENERIC_CONSULTING_COMPANY",
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"B-Advisors.GENERIC_CONSULTING_COMPANY",
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"B-Advisors.GENERIC_CONSULTING_COMPANY",
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"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
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"O",
"O",
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"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
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878547-000114420406035597-v050150_ex99-2 | EX-99.2
5
v050150_ex99-2.txt
American Technologies Group, Inc. Announces
Acquisition of Whitco Company, LP
Friday April 28, 4:00 pm ET
FORT LAUDERDALE, FL--(MARKET WIRE)--April 28, 2005 -- American Technologies
Group, Inc. (OTC BB:ATGR.OB - News) (the "Company"), announced today that it has
closed on the acquisition of certain of the assets of Whitco Company, LP, a
Texas limited partnership as authorized by an April 25, 2006 order by the U.S.
Bankruptcy Court of the Northern District of Texas (Fort Worth Division).
Whitco Company L.P.'s business consisted of the sale and distribution of
structural steel and aluminum lighting poles across the globe. Prior to closing
of the sale, Whitco Company L.P. sought protection under Chapter 11 of the
United States Bankruptcy Code, and the approval of the acquisition of its
remaining assets by the Company. The purchase price paid at closing for the
assets consisted of the issuance of 3.75 million warrants to purchase common
stock of the Company at an exercise price of $0.001 per share, the delivery of a
registration rights agreement requiring the Company to register the shares
issued upon the exercise of the Warrant, and the cancellation of certain debtor
in possession financing provided to Whitco Company, L.P. prior to the closing by
the Company. The Company has secured working capital for this new acquisition in
the form of a $500,000 credit facility with Gryphon Master Fund and affiliates
of Dallas, Texas.
This acquisition expands the Company's product line. According to Barry Ennis,
President of North Texas Steel, Inc. indicated OThe Whitco product line is a
natural extension and leverages our manufacturing capabilities without the need
for significant capital expenditures.O
About American Technologies Group, Inc.
American Technologies Group, Inc., through its wholly owned subsidiary, North
Texas Steel Company, Inc., is an American Institute of Steel Construction
certified structural steel fabrication company and provides fabrication and
detailing of structural steel components for commercial buildings, office
buildings, convention centers, sports arenas, airports, schools, churches and
bridges.
About Whitco Company, LP
Since 1969, Whitco Company has been a leading provider of light poles to
commercial and industrial markets worldwide. Whitco provides marketing expertise
and engineering knowledge to a nationwide contracted lighting representative
base as well as OEM customers.
Contact:
Media Contact:
Erin Davis
(954)764-4753
American Technologies Group, Inc.
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45919-000110465916164620-a16-23824_1ex99d2 | EX-99.2
4
a16-23824_1ex99d2.htm
EX-99.2
Exhibit 99.2
NEWS RELEASE
FOR IMMEDIATE RELEASE
December 23, 2016
Media Contact:
C. Scott Hamilton
Public & Investor Relations
(303) 214 - 5563
[email protected]
HARTE HANKS COMPLETES SALE OF TRILLIUM BUSINESS
San Antonio, TX - Harte Hanks (NYSE: HHS), a leader in customer relationships, experiences and interaction-led marketing, today announced the closing of the sale of Trillium Software to Syncsort for $112 million in cash. The Company used the net proceeds of the sale to retire its outstanding credit facility.
Commenting on the transition, Chief Executive Officer Karen Puckett said, "We are pleased to have completed the sale of Trillium Software, which allows us to focus the business on serving chief marketing officers with a unique combination of strategy, creative, analytics and marketing execution. We continue to make progress on our revenue stability efforts around client expansion and new client additions, and in the fourth quarter, we expect to reduce our rate of revenue decline and see improving profitability. We are encouraged that the strategic changes we are making to the business are taking hold".
Harte Hanks expects to host a conference call in January to provide a review of its business, product offerings, and go to market strategy. Additional details will be provided at a later date.
About Harte Hanks:
Harte Hanks is a global marketing services firm specializing in multi-channel marketing solutions that connect our clients with their customers in powerful ways. Experts in defining, executing and optimizing the customer journey, Harte Hanks offers end-to-end marketing services including consulting, strategic assessment, data, analytics, digital, social, mobile, print, direct mail and contact center. From visionary thinking to tactical execution, Harte Hanks delivers smarter customer interactions for some of the world's leading brands. Harte Hanks 5,000+ employees are located in North America, Asia-Pacific and Europe. For more information, visit Harte Hanks at www.hartehanks.com, call 800-456-9748, email us at [email protected]. Follow us on Twitter @hartehanks or Facebook at https://www.facebook.com/HarteHanks.
Cautionary Note Regarding Forward-Looking Statements:
This press release contains "forward-looking statements" within the meaning of U.S. federal securities laws. All such statements are qualified by this cautionary note, provided pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements other than historical facts are forward-looking and may be identified by words such as "may", "will", "expects", "believes", "anticipates", "plans", "estimates", "seeks", "could", "intends", or words of similar meaning. These forward-looking statements are based on current information, expectations and estimates and involve risks, uncertainties, assumptions and other factors that are difficult to predict and that could cause actual results and events to vary materially from what is expressed in or indicated by the forward-looking statements. In such an event, our business, financial condition, results of operations or liquidity could be materially adversely affected and investors in our securities could lose part or all of their investments. These risks, uncertainties, assumptions and other factors include: (a) our ability to complete anticipated divestitures, financings and reorganizations; (b) our ability to successfully manage executive transitions; (c) unanticipated developments regarding litigation or other contingent liabilities; (d) the anticipated absolute and relative levels of profitability of our business for periods not yet completed; and (e) other factors discussed from time to time in our filings with the Securities and Exchange Commission, including under "Item 1A. Risk Factors" in our Annual Report on Form 10-K for the year ended
2
December 31, 2015. The forward-looking statements in this press release are made only as of the date hereof and we undertake no obligation to update publicly any forward-looking statement, even if new information becomes available or other events occur in the future.
As used herein, "Harte Hanks" refers to Harte Hanks, Inc. and/or its applicable operating subsidiaries, as the context may require. Harte Hanks' logo and name are trademarks of Harte Hanks.
3
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] |
776867-000077686716000040-exhibit991pressrelease | EX-99.1
2
exhibit991pressrelease.htm
EXHIBIT 99.1
Exhibit
Exhibit 99.1
PRESS RELEASE
CONTACT: David Foy
Tel: (203) 458-5850
White Mountains Completes Sale of Sirius Group
HAMILTON, Bermuda, April 18, 2016. White Mountains Insurance Group, Ltd. (NYSE: WTM) announced today that it has completed the sale of Sirius International Insurance Group, Ltd. to a subsidiary of CM International Holding Pte. Ltd., the Singapore-based investment arm of China Minsheng Investment Corp., Ltd. The gross estimated purchase price paid at the closing was $2,592 million. Approximately $160 million of this amount was used to purchase out of Sirius Group certain assets to be retained by White Mountains, including shares of OneBeacon. The transaction is estimated to result in a gain of approximately $90 to White Mountains's adjusted book value per share.
White Mountains is in a quiet period until earnings are released on May 2.
ADDITIONAL INFORMATION
White Mountains is a Bermuda-domiciled financial services holding company traded on the New York Stock Exchange and the Bermuda Stock Exchange under the symbol WTM. Additional financial information and other items of interest are available at the Company's web site located at www.whitemountains.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included or referenced in this press release which address activities, events or developments which White Mountains expects or anticipates will or may occur in the future are forward-looking statements. The words "will", "believe", "intend", "expect", "anticipate", "project", "estimate", "predict" and similar expressions are also intended to identify forward-looking statements. These forward-looking statements include, among others, statements with respect to White Mountains:
.
change in adjusted book value per share or return on equity;
.
business strategy;
.
financial and operating targets or plans;
.
incurred loss and loss adjustment expenses and the adequacy of its loss and loss adjustment expense reserves and related reinsurance;
.
projections of revenues, income (or loss), earnings (or loss) per share, dividends, market share or other financial forecasts;
.
expansion and growth of its business and operations; and
.
future capital expenditures.
These statements are based on certain assumptions and analyses made by White Mountains in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors believed to be appropriate in the circumstances. However, whether actual results and developments will conform to its expectations and predictions is subject to a number of risks and uncertainties that could cause actual results to differ materially from expectations, including:
.
the risks that are described from time to time in White Mountains's filings with the Securities and Exchange Commission, including but not limited to White Mountains's Annual Report on Form 10-K for the fiscal year ended December 31, 2015 filed February 29, 2016;
.
claims arising from catastrophic events, such as hurricanes, earthquakes, floods, fires, terrorist attacks or severe winter weather;
.
the continued availability of capital and financing;
.
general economic, market or business conditions;
.
business opportunities (or lack thereof) that may be presented to it and pursued;
.
competitive forces, including the conduct of other property and casualty insurers and reinsurers;
.
changes in domestic or foreign laws or regulations, or their interpretation, applicable to White Mountains, its competitors or its customers;
.
an economic downturn or other economic conditions adversely affecting its financial position;
.
recorded loss reserves subsequently proving to have been inadequate;
.
actions taken by ratings agencies from time to time, such as financial strength or credit ratings downgrades or placing ratings on negative watch; and
.
other factors, most of which are beyond White Mountains' control.
Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by White Mountains will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, White Mountains or its business or operations. White Mountains assumes no obligation to publicly update any such forward-looking statements, whether as a result of new information, future events or otherwise.
| [
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794172-000119312519164163-d738925dex991 | EX-99.1
3
d738925dex991.htm
EX-99.1
EX-99.1
Exhibit 99.1
For Immediate Release
MERIDIAN BIOSCIENCE ANNOUNCES
CLOSING OF TRANSACTION TO ACQUIRE BUSINESS OF GENEPOC
CINCINNATI, OHIO June 3, 2019 (GLOBE NEWSWIRE) Meridian Bioscience, Inc. (NASDAQ: VIVO), a provider of diagnostic testing solutions and life science raw
materials, today announced it has completed its previously announced acquisition of the business of GenePOC Inc., a Quebec City, Quebec, Canada based provider of molecular diagnostic instruments and assays.
About Meridian Bioscience, Inc.
Meridian is a fully
integrated life science company that develops, manufactures, markets and distributes a broad range of innovative diagnostic products. We are dedicated to developing and delivering better solutions that give answers with speed, accuracy and
simplicity that are redefining the possibilities of life from discovery to diagnosis. Through discovery and development, we provide critical life science raw materials used in immunological and molecular tests for human, animal, plant, and
environmental applications. Through diagnosis, we provide diagnostic solutions in areas including gastrointestinal and upper respiratory infections and blood lead level testing. We build relationships and provide solutions to hospitals, reference
laboratories, research centers, veterinary testing centers, physician offices, diagnostics manufacturers, and biotech companies in more than 70 countries around the world.
Meridian's shares are traded on the NASDAQ Global Select Market, symbol VIVO. Meridian's website address is www.meridianbioscience.com.
Contact:
Jack Kenny
Chief Executive Officer
Meridian Bioscience, Inc.
Phone: 513.271.3700
Email:
[email protected]
###
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805792-000120677412001147-exhibit99-1 | EX-99.1
4
exhibit99-1.htm
PRESS RELEASE OF BALDWIN TECHNOLOGY COMPANY, INC.
Exhibit 99.1
Forsyth Capital Completes Acquisition
of Baldwin
Boca Raton, FL, March 20, 2012 -
Baldwin Technology Company, Inc. (NYSE AMEX: BLD), a global leader in process
automation technology for the print media industry, reported that the
transaction previously announced on December 23, 2011 was completed today, and
Baldwin has been acquired by Forsyth Baldwin, LLC, an entity owned by Forsyth
Capital Investors, LLC. Baldwin will be delisted from the NYSE Amex and its
securities will no longer be registered.
Baldwin's stockholders will receive
$0.96 in cash for each share of Baldwin Class A or Class B Common Stock. Letters
of Transmittal will be sent by the Exchange Agent this week to each stockholder
of record with instructions to follow in sending in their stock certificates in
exchange for the cash consideration. Beneficial owners will receive cash in
their brokerage accounts. For any questions regarding procedures related to the
exchange of Baldwin stock, stockholders may contact Helen Oster at 203 402 1004.
About Baldwin Technology Company,
Inc.
Baldwin Technology Company, Inc. is
a leading international supplier of process automation equipment and related
consumables for the print media industry. Baldwin offers its customers a broad
range of market-leading technologies, products and systems that enhance the
quality of printed products and improve the economic and environmental
efficiency of the printing process. Headquartered in Boca Raton, Florida, the
company has operations strategically located in the major print media markets
and distributes its products via a global sales and service infrastructure.
Baldwin's technology and products include cleaning systems, fluid management and
ink control systems, web press protection systems, drying and curing systems and
related consumables. For more information, visit: www.baldwintech.com.
About Forsyth Capital Investors,
LLC
Forsyth Capital Investors is a St. Louis-based investment firm focused on
making long-term investments in middle-market companies operating in the capital
equipment and component manufacturing and insurance services sectors. Forsyth
Capital's investment approach offers a balanced blend of private equity
fundamentals and significant operational expertise made possible by its
strategic relationship with Barry-Wehmiller Companies, Inc., a diversified
capital equipment manufacturer. Because of its unique relationship with an
active operating company, Forsyth Capital Investors offers many of the
value-added resources of a strategic partner, while maintaining the
entrepreneurial spirit and autonomy of the portfolio company's leadership team.
For more information, visit www.forsythcapital.com.
Contact: Helen P. Oster, Tel: 203 402
1004, email: [email protected]
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1104485-000119312518276642-d553231dex991 | EX-99.1
4
d553231dex991.htm
EX-99.1
EX-99.1
Exhibit 99.1
Northern Oil and Gas, Inc. Announces Closing of Pivotal Petroleum Partners Acquisition
MINNEAPOLIS, MINNESOTA - September 18, 2018 - Northern Oil and Gas, Inc. (NYSE American: NOG) today announced that it has closed on
the previously announced Pivotal Petroleum Partners acquisition.
MANAGEMENT COMMENT
"Closing this highly accretive acquisition will drive free cash flow generation and strengthen our production base", commented Northern's Chief
Executive Officer, Brandon Elliott. "This transaction serves to benefit all stakeholders by simultaneously growing cash flow per share and improving our credit metrics".
ACQUISITION
Northern closed the previously announced
Pivotal Petroleum Partners acquisition with a combination of cash and stock. Information regarding this previously announced acquisition can be found at:
http://ir.northernoil.com/news-releases/news-release-details/northern-oil-and-gas-inc-announces-accretive-acquisition-cash.
ABOUT NORTHERN OIL AND GAS
Northern Oil and
Gas, Inc. is an exploration and production company with a core area of focus in the Williston Basin Bakken and Three Forks play in North Dakota and Montana.
More information about Northern Oil and Gas, Inc. can be found at
www.NorthernOil.com
.
SAFE HARBOR
This press release contains forward-looking
statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933 (the "Securities Act") and the Securities Exchange Act of 1934 (the "Exchange Act"). All
statements other than statements of historical facts included in this release regarding the Company's financial condition and results of operations, business strategy, plans and objectives of management for future operations, industry
conditions, indebtedness covenant compliance, timing and benefits of pending acquisitions, and related issuances of common stock are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms
or phrases such as "estimate", "project", "predict", "believe", "expect", "continue", "anticipate", "target", "could", "plan", "intend,"
"seek", "goal", "will", "should", "may" or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or
potential future production and sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond the Company's control) that could
cause actual results to differ materially from those set forth in the forward-looking statements, including the following: changes in crude oil and natural gas prices, the pace of drilling and completions activity on the Company's current
properties and properties pending acquisition, the Company's ability to acquire additional development opportunities, changes in the Company's reserves estimates or the value thereof, general economic or industry conditions, nationally
and/or in the communities in which the Company conducts business, changes in the interest rate environment, legislation or regulatory requirements, conditions of the securities markets, the Company's ability to consummate any pending
acquisition transactions, other risks and uncertainties related to the closing of pending acquisition transactions, the Company's ability to raise or access capital, changes in accounting principles, policies or guidelines, financial or
political instability, acts of war or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting the Company's operations, products, services and prices. Additional information concerning potential
factors that could affect future financial results is included in our Annual Report on Form
10-K
for the fiscal year ended December 31, 2017, as updated from time to time in amendments and subsequent
reports filed with the SEC.
The Company has based these forward-looking statements on its current expectations and assumptions about
future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are
difficult to predict and many of which are beyond the Company's control. The Company does not undertake any duty to update or revise any forward-looking statements, except as may be required by the federal securities laws.
CONTACT:
Nicholas O'Grady
Chief Financial Officer
(952)
476-9800
[email protected]
Source: Northern Oil and Gas, Inc.
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"CONTACT",
":",
"Nicholas",
"O'Grady",
"Chief",
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"476",
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"9800",
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1731348-000119312519315438-d66818dex991 | EX-99.1
3
d66818dex991.htm
EX-99.1
EX-99.1
Exhibit 99.1
Tilray, Inc. Completes Merger With Privateer Holdings, Inc.
December 13, 2019
NANAIMO, British Columbia-(BUSINESS
WIRE)-Dec. 13, 2019- Tilray, Inc. (" Tilray" or the "Company") (Nasdaq:TLRY), a global pioneer in cannabis research, cultivation, production and distribution, today announced that the merger with Privateer Holdings,
Inc. ("Privateer"), closed on December 12, 2019.
Mark Castaneda, Chief Financial Officer of Tilray, said: "We appreciate the long-term
confidence that Privateer has in the Tilray business and we look forward to having their investors as part of our stockholder base. We believe this transaction will give Tilray greater control and operating flexibility, while allowing us to
effectively manage our public float".
Pursuant to the merger, all of Privateer's capital stock outstanding immediately prior to the effective
time of the merger (excluding certain shares) were cancelled and automatically converted solely into the right to receive the applicable portion of an aggregate shares of Tilray Class 2 common stock and shares of Tilray Class 1 common
stock (inclusive of shares of Tilray Class 2 common stock held in escrow for contingent release to Privateer's stockholders) issuable as consideration in merger. Tilray did not pay any cash consideration in connection with the merger.
As previously disclosed, each Privateer equity holder who received the shares of Tilray stock in the merger is subject to a
lock-up
allowing for the sale of such shares only under certain circumstances over a
two-year
period. During the first year following the closing of the merger, shares
will be released only pursuant to certain offerings or sales arranged by and at the discretion of Tilray. At the end of the first year, to the extent not already released at Tilray's discretion as a result of the aforementioned offerings or
sales, 50 percent of the total shares subject to the
lock-up
will be released. Over the course of the second year following closing, the remaining shares will be subject to a staggered release in four
equal quarterly increments.
About Tilray
®
Tilray is a global pioneer in the research, cultivation, production and distribution of cannabis and cannabinoids currently serving tens of thousands of
patients and consumers in 13 countries spanning five continents.
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and
"forward- looking information" within the meaning of Canadian securities laws, or collectively, forward-looking statements. Forward-looking statements in this press release may be identified by the use of words such as, "may",
"would", "could", "will", "likely", "expect", "anticipate", "believe, "intend", "plan", "forecast", "project", "estimate",
"outlook" and other similar expressions and includes statements regarding future sales of Tilray stock. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of
management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including assumptions
in respect of current and future market conditions, the current and future regulatory environment and future approvals and permits. Actual results, performance or achievement could differ materially from that expressed in, or implied by, any
forward-looking statements in this press release, and, accordingly, you should not place undue reliance on any such forward-looking statements and they are not guarantees of future results. Please see the heading "Risk Factors" in
Tilray's Quarterly Report on Form
10-Q,
which was filed with the Securities and Exchange Commission on November 13, 2019, for a discussion of the material risk factors that could cause actual results
to differ materially from the forward-looking information. Tilray does not undertake to update any forward-looking statements that are included herein, except in accordance with applicable securities laws.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20191213005056/en
/
Source: Tilray, Inc.
Media: Chrissy Roebuck,
+1-833-206-8161,
[email protected]
Investors: Rachel Perkins,
+1-646-277-1221,
[email protected]
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O"
] |
1262959-000129993307003836-exhibit1 | EX-99.1
2
exhibit1.htm
EX-99.1
EX-99.1
News Release
For Immediate Release
For Further Information, Contact:
June 25, 2007
George Lancaster, Hines
713/966-7676
[email protected]
HINES REIT ACQUIRES SEATTLE DESIGN CENTER
(SEATTLE, WASHINGTON) - The Seattle office of Hines, the international real estate firm, announced
today that Hines REIT has acquired the Seattle Design Center (SDC) located at 5701 Sixth Avenue
South. The two-building complex is in the growing Georgetown neighborhood, just minutes from
downtown Seattle. The complex was purchased from Bay West Seattle, LLC, on behalf of Hines Real
Estate Investment Trust, Inc. (Hines REIT). Bay West was represented in the sale by Pacific Real
Estate Partners, Inc. (PREP). Hines represented Hines REIT. Hines is the sponsor of Hines REIT,
and is responsible for the management and leasing of its assets.
Designed by Kenneth D. Long & Associates, SDC is comprised of two distinctive buildings
totaling 390,684 rentable square feet, each featuring a light-enhancing atrium and connected by a
glass-enclosed bridge. The two-story, 130,165-square-foot Atrium Building was constructed in 1973,
and the five-story, 260,519-square-foot Plaza Building was built 10 years later. The Plaza
Building's upper floors, primarily office space, offer views of the Seattle skyline and Mount
Rainier. The complex contains 275 parking spaces in a two-level, underground garage within the
Plaza Building. The Atrium Building offers 125 open parking spaces.
At 90 percent leased, SDC contains a mixture of 70 showrooms, 15 designer offices, and
approximately 80,000 square feet of mainstream office tenants including the corporate headquarters
of specialty retailer Sur La Table. The showrooms represent more than 1,500 manufacturers from
around the world as well as local artisans from the Northwest.
"Hines has been active in the Seattle market for more than two decades, and we are pleased to
add this successful project to our asset mix", said Hines Senior Vice President Colin Shepherd.
"The Seattle Design Center is a unique acquisition for us as one of only 20 design centers in the
U.S., and the only full-service design center in the Pacific Northwest serving professional
interior designers, architects and their clients".
"We think that the acquisition of the Seattle Design Center will further enhance the Hines
REIT portfolio in Seattle where we believe the long-term demographic trends to be very attractive,"
said Charles Hazen, president of Hines REIT.
Hines REIT is a Houston-based public real estate investment trust sponsored by Hines. Hines
REIT commenced operations in November 2004 and primarily invests in institutional-quality office
properties located in the United States. Including this acquisition, Hines REIT currently owns
interests in 32 office properties located in 20 cities throughout the United States and one
mixed-use office and retail complex in Toronto, Canada. For additional information about Hines
REIT, please see
www.hinesreit.com
.
Hines is a fully integrated real estate investment and management firm that has been investing
in real estate and providing acquisition, development, financing, property management, leasing or
disposition services for over 50 years. With offices in 67 U.S. cities and 15 foreign countries,
and controlled assets valued at approximately $16 billion, Hines is one of the largest real estate
organizations in the world. Access
www.hines.com
for more information on Hines.
Statements in this news release, including but not limited to those relating to intentions,
beliefs, expectations, projections, plans or predictions, including effects and results of the
acquisition and other statements that are not historical facts are forward looking statements that
are based on current expectations and assumptions that may prove incorrect or inaccurate.
Important factors that could cause actual results to differ materially from those in the forward
looking statements include risks associated with property acquisitions, changes in general economic
and real estate market conditions, interest rate fluctuations, competition, dependence on tenants'
financial condition, dependence on Hines and other risks described in the "Risk Factors" section of
Hines REIT's Registration Statement on Form S-11 and its other filings with the Securities and
Exchange Commission.
-30-
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"\"",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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1492691-000114420417047372-v474841_ex99-1 | EX-99.1
5
v474841_ex99-1.htm
EXHIBIT 99.1
Exhibit 99.1
Swift Transportation
Stockholders Approve Proposed Merger With Knight Transportation
PHOENIX-(BUSINESS WIRE)-Swift
Transportation Company (NYSE: SWFT) ("Swift") today announced that its stockholders approved its merger with Knight
Transportation, Inc. (NYSE: KNX) ("Knight") at a special meeting of Swift stockholders held earlier today. Swift stockholders
approved all proposals put forward at the special meeting.
As previously announced, on April 9,
2017, Swift and Knight entered into a merger agreement (the "Merger Agreement"), pursuant to which they agreed to a
combination transaction after which their respective businesses will be operated separately under a single combined company. The
combined company will be named Knight-Swift Transportation Holdings Inc. ("Knight-Swift") and will trade under the
ticker "KNX." Under the terms of the Merger Agreement, each Swift share will convert into 0.72 shares of Knight-Swift
by means of a reverse stock split and each share of Knight will be exchanged for one Knight-Swift share.
Swift expects the merger to close tomorrow,
September 8, 2017.
Morgan Stanley & Co. LLC served as
financial advisor to Swift. Kirkland & Ellis LLP served as legal advisor to Swift.
About Swift Transportation Company
Swift Transportation originated and is
based in Phoenix, Arizona, and operates a tractor fleet of approximately 18,500 units driven by company and owner-operator drivers.
The company operates more than 40 major terminals positioned near major freight centers and traffic lanes in the United States
and Mexico. Swift offers customers the opportunity for "one-stop shopping" for their truckload transportation needs
through a broad spectrum of services and equipment. Swift's extensive suite of services includes general, dedicated and cross-border
U.S./Mexico/Canada service, temperature-controlled, flatbed and specialized trailers, in addition to rail intermodal and non-asset
based freight brokerage and logistics management services, making it an attractive choice for a broad array of customers.
Cautionary Statement Regarding Forward-Looking
Information
This press release contains "forward-looking
statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected
future business and financial performance and financial condition, and often contain words such as "expect", "anticipate,"
"intend", "plan", "believe", "seek", "see", "will", "would,"
"target", similar expressions, and variations or negatives of these words. Forward-looking statements by their nature
address matters that are, to different degrees, uncertain, such as statements about the consummation of the proposed transaction
and the anticipated benefits thereof. These and other forward-looking statements, including the failure to consummate the proposed
transaction or to make or take any filing or other action required to consummate such transaction in a timely matter or at all,
are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to
differ materially from those expressed in any forward-looking statements. Important risk factors that may cause such a difference
include, but are not limited to, (i) the completion of the proposed transaction on anticipated terms and timing, including anticipated
tax treatment, unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance,
indebtedness, financial condition, losses, future prospects, business and management strategies for the management, expansion and
growth of Knight-Swift's operations and other conditions to the completion of the merger, (ii) the ability of Knight and
Swift to operate the business successfully and to achieve anticipated synergies, (iii) potential litigation relating to the proposed
transaction that could be instituted against Knight, Swift or their respective directors, (iv) the risk that disruptions from the
proposed transaction will harm Knight's or Swift's business, including current plans and operations, (v) the ability
of Knight and Swift to retain and hire key personnel, (vi) potential adverse reactions or changes to business relationships resulting
from the completion of the merger, (vii) uncertainty as to the long-term value of Knight-Swift's common stock, (viii) continued
availability of capital and financing and rating agency actions, (ix) legislative, regulatory and economic developments, and (x)
unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities,
as well as management's response to any of the aforementioned factors. These risks, as well as other risks associated with
the proposed merger, are more fully discussed in the joint proxy statement/prospectus that is included in the registration statement
on Form S-4 filed with the Securities and Exchange Commission ("SEC") in connection with the merger. While the list
of factors presented here is, and the list of factors presented in the registration statement on Form S-4 are, considered representative,
no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present
significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results
as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational
problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect
on Knight's, Swift's, and Knight-Swift's financial condition, results of operations, credit rating or liquidity.
Neither Knight nor Swift assumes any obligation to publicly provide revisions or updates to any forward-looking statements, whether
as a result of new information, future developments or otherwise, should circumstances change, and any such obligation is specifically
disclaimed, except as otherwise required by securities and other applicable laws.
Contacts
Swift Transportation Company
Taylor Varley, 602-269-9700
Vice President of Finance
or
Ginnie Henkels, 602-269-9700
Executive Vice President and Chief Financial Officer
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1325460-000110465907067749-a07-23241_3ex99d3 | EX-99.3
5
a07-23241_3ex99d3.htm
EX-99.3
Exhibit
99.3
ATS Corporation Completes Common
Stock and Warrant Repurchase
Program
Friday, September 7, 2007
MCLEAN, VA - (BUSINESSWIRE) - September 7, 2007, McLean, VA. ATS
Corporation ("ATSC" or the "Company") (OTCBB: ATCT.OB), a leading information
technology company that delivers innovative technology solutions to federal,
state, and local government organizations, today announced that it has completed
the common stock and warrant repurchase program authorized by its board of
directors and initiated after the consummation of the acquisition of Advanced
Technology Systems, Inc. ("ATS") in January of this year. Through September 7, 2007, the Company paid
approximately $13.5 million in cash to redeem 2,811,400 shares of common stock at
an average price of $4.80 per share and approximately $1.4 million in cash to
purchase 3,705,755 warrants at an average price of $0.39 per warrant. The Company had approximately 18,283,324
common shares and 38,294,245 warrants outstanding upon completion of the
program as of September 7, 2007.
ATSC Chairman, President and Chief Executive Officer, Dr. Edward
Bersoff, commented, "We are pleased to have completed this initiative to
improve our capital structure and we will continue to assess other means of
reducing the number of our outstanding warrants to improve long-term value for
both the Company and our shareholders".
About
ATS Corporation
ATS Corporation operates through its subsidiaries, ATS, Reliable
Integration Services, Potomac Management Group ("PMG"), and Appix, Inc. ("Appix").
ATS is a leading provider of systems integration and application
development, IT infrastructure management and strategic IT consulting services
to U.S. federal government agencies. Since its founding in 1978, ATS has been
recognized for its custom software development and software integration
capabilities and its deep domain expertise in federal government financial,
human resource and data management systems. ATS has built and implemented over
100 mission-critical systems for clients.
ATSC leverages its IT services, management consulting, and software and
systems development solutions expertise into financial institutions, insurance
companies and government sponsored enterprises through a wholly owned
subsidiary, Appix. Additional information about Appix may be found at
www.appix.com.
In addition, ATSC's subsidiary PMG provides government and commercial clients
with in-depth, proven expertise and assistance on global maritime operations,
regulations, program management, and information technology support.
Additional information about PMG can be found at www.potomacmgmt.com.
Any statements in this press release about future expectations, plans, and
prospects for ATSC, including statements about the estimated value of the
contract and work to be performed, and other statements containing the words "estimates,"
"believes", "anticipates", "plans", "expects", "will", and similar expressions,
constitute forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995. Actual results may differ materially from
those indicated by such forward-looking statements as a result of various
important factors, including: our
dependence on our contracts with federal government agencies for the
majority of our revenue, our dependence on our GSA schedule contracts and our
position as a prime contractor on government-wide acquisition contracts to grow
our business, and other factors discussed in our latest annual report on Form
10-K filed with the Securities and Exchange Commission on March 26, 2007. In
addition, the forward-looking statements included in this press release
represent our views as of September 7, 2007. We anticipate that subsequent
events and developments will cause our views to change. However, while we may
elect to update these forward-looking statements at some point in the future,
we specifically disclaim any obligation to do so. These forward-looking
statements should not be relied upon as representing our views as of any date
subsequent to September 7, 2007.
Additional information about ATSC may be found at www.atsva.com.
Company Contact:
Dr. Edward H. Bersoff
Chairman, President and Chief Executive Officer
ATS Corporation
(703) 506-0088
Joann O'Connell
Vice President, Investor Relations
ATS Corporation
(703) 506-0088
SOURCE: ATS Corporation
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940944-000089882207001185-dardenpressrelease | EX-99.01
2
dardenpressrelease.htm
dardenpressrelease.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing
www.darden.com
Exhibit 99.01
Red Lobster®
Olive Garden® Bahama Breeze® Smokey Bones® Seasons 52®
NEWS/INFORMATION
Darden Restaurants, Inc
RARE Hospitality International, Inc
Corporate Relations
8215 Roswell Road
P.O. Box 593330
Atlanta, GA 30350
Orlando, FL 32859
Darden Contacts:
(Analysts) Matthew Stroud
(407) 245-6458
(Media) Bob McAdam
(407) 245-5366
RARE Contacts:
(Analysts) W. Douglas Benn
(770) 399-9595
FOR RELEASE
October 1, 2007
9:00 AM ET
DARDEN RESTAURANTS ANNOUNCES SUCCESSFUL COMPLETION OF CASH
TENDER OFFER FOR RARE HOSPITALITY INTERNATIONAL, INC.
ORLANDO, FL and ATLANTA, GA - Darden Restaurants, Inc. (NYSE: DRI) announced today the successful completion of its tender offer to acquire all outstanding shares of common stock of RARE Hospitality International, Inc. (Nasdaq: RARE), at a price of $38.15 per share, in cash.
The initial offering period for the tender offer expired at 12:00 midnight, New York City time, at the end of Friday, September 28, 2007, at which time a total of 26,991,599 shares of RARE common stock (excluding shares tendered under guaranteed delivery procedures) had been validly tendered and not withdrawn, representing 85.646% of the outstanding RARE common stock. Including the 4,743,236 shares tendered under guaranteed delivery procedures, more than 90% of the outstanding shares of RARE common stock were tendered in the tender offer. All shares that were validly tendered and not withdrawn have been accepted for purchase in accordance with the terms of the offer.
Merger
Darden intends to promptly acquire all of the remaining RARE shares by means of a short-form merger under Georgia law at the same price per share paid in the tender offer. Upon completion of the merger, RARE will become a wholly owned subsidiary of Darden and will no longer be traded on the NASDAQ.
Darden Restaurants, Inc., headquartered in Orlando, FL, owns and operates over 1,400 Red Lobster, Olive Garden, Bahama Breeze, Smokey Bones and Seasons 52 restaurants with annual sales of $5.6 billion.
RARE Hospitality International, Inc., headquartered in Atlanta, GA, currently owns, operates and franchises 323 restaurants, including 292 LongHorn Steakhouse restaurants and 29 The Capital Grille restaurants.
Forward-looking statements in this news release are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements could address future economic performance, restaurant openings, various financial parameters, or similar matters. By their nature, forward-looking statements involve risks and uncertainties that could cause actual results to materially differ from those anticipated in the statements. The most significant of these uncertainties are described in Darden Restaurants, Inc.'s and RARE Hospitality International, Inc.'s Form 10- K, Form 10-Q and Form 8-K reports (including all amendments to those reports). These risks and uncertainties include successful completion of the proposed acquisition on a timely basis, the ability to integrate the business of RARE and achieve synergies following completion of the proposed acquisition, the impact of intense competition, changing economic or business conditions, the price and availability of food, ingredients and utilities, supply interruptions, labor and insurance costs, increased advertising and marketing costs, higher-than-anticipated costs to open or close restaurants, litigation, unfavorable publicity, a lack of suitable locations, government regulations, a failure to achieve growth objectives through the opening of new restaurants or the development or acquisition of new dining concepts, weather conditions, risks associated with Darden's plans to expand Darden's newer concepts Bahama Breeze and Seasons 52, the closure and disposition of certain Smokey Bones restaurants and the anticipated sale of the remaining Smokey Bones restaurants, risks associated with incurring substantial additional debt and other factors and uncertainties discussed from time to time in reports filed by Darden with the Securities and Exchange Commission.
-END-
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319156-000110465913073889-a13-21359_1ex99d1 | EX-99.1
16
a13-21359_1ex99d1.htm
EX-99.1
Exhibit 99.1
PRESS RELEASE
Date: October 1, 2013
Contact:
Donna Luedtke
Website
: www.cubicenergyinc.com
Investor Relations
Phone:
(972) 686-0369
Email:
[email protected]
Cubic Energy, Inc. Announces Progress Toward Closing of East Texas Assets
DALLAS, TX
-
Cubic Energy, Inc. (OTCQB: CBNR)
("Cubic" or the "Company")
announces today that it has executed certain closing documents with respect to the previously announced acquisition of all of the East Texas assets of Gastar Exploration, Texas, LP ("Gastar"). The net cash purchase price, anticipated to be $39,118,830 for these assets, is expected to be finalized and paid to Gastar on or before October 2, 2013.
Cubic Energy, Inc. is an independent company engaged in the development and production of, and exploration for, crude oil and natural gas. The Company's oil and gas assets and activity are concentrated primarily in the Cotton Valley and Haynesville Shale Play located in Northwest Louisiana. Additional information can be found on Cubic's website at: www.cubicenergyinc.com.
If you would like to be added to Cubic's email distribution list, please email your name and email address to Donna Luedtke, Investor Relations at [email protected]. This email distribution list is notified of all news events (including press releases and scheduled investor conference calls).
This press release includes statements, which may constitute "forward-looking" statements, usually containing the words "believe", "intend", "estimate"', "project"', "expect", or similar expressions. These statements are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, future trends in oil and natural gas prices, the ability to close the purchase of desirable oil and/or natural gas assets, the availability of capital for development of mineral projects and other projects, the availability of capital to satisfy debt obligations, dependency on pipelines in which to sell the Company's natural gas it produces, reliance on third party operators for wells in which the Company maintains a working interest, reliance on third party contractors to aid in developing the production infrastructure and in the performance of well completion work, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revision or changes after the date of this release. There can be no assurance that any future activities and/or transactions mentioned in this press release will occur as planned. Cubic cannot guarantee the timing of the drilling or any level of production from its wells.
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1172319-000120445907001007-exh991 | EX-99.1
2
exh991.htm
PRESS RELEASE DATED JULY 6, 2007
Home System Group: Exhibit 99.1 - Prepared by TNT Filings Inc.
Home System Group Announces the Closing of the Acquisition of
Zhongshan City Weihe Appliances Co., LTD
LOS ANGELES, CA July 6, 2007 - Home System
Group (OTCBB: HSYT), an international manufacturer and distributor of home
appliance products to major global retailers, today announced that it has closed
the acquisition of Zhongshan City Weihe Appliances Co., Ltd., which was first
announced on June 26, 2007.
Founded in 1998, Zhongshan City Weihe
Appliances Co., Ltd. (Weihe) is a manufacturer of ceiling fans and residential
lighting for the international consumer market. Currently, the Company sells
approximately 1,500 different types of decorative ceiling fans and 200 types of
lamps which are manufactured across 23 different production lines. Sales are
conducted through various distributors who then sell the products to a number of
large and established retailers, including several Fortune 500 companies. Weihe
employs approximately 1,000 individuals in the areas of production, sales,
technical, financial and administrative functions and operates a facility that
is located eight miles from Home Systems Group. Weihe has committed to a "make
good" net income target for the periods ending December 31, 2007 and 2008 of
$8.8 million and $12.6 million respectively. In the event that Weihe does not
achieve these respective net income targets, Home System Group will retain the
right to deduct the percentage by which the net income is missed for such year
from the cash consideration to the Weihe shareholders. In addition, as a
stipulation of the transaction, Weihe's management has committed to remain with
the Company for at least the next two years.
Final consideration for the acquisition is
$27.0 million in cash and 4.5 million shares of restricted common stock of Home
System Group, subject to Home System Group's right to set off the cash portion
of the purchase price by any reimbursement amount payable to Home System Group
under the agreement or any shortfall of the make good amount. Forty percent of
the cash portion of the purchase price will be due to the Weihe shareholders on
the first anniversary of the closing of the transaction, with the remaining
sixty percent due by the second anniversary.
"The acquisition of Weihe represents the
largest by Home System to date and we are optimistic about our combined
prospects going forward", commented Mr. Li Wei Qui, CEO and Chairman of Home
System Group.
About Home System Group
Based in Guangdong Province, People's Republic
of China, Home System Group, through its wholly owned distributors Oceanic
International (Hong Kong), Ltd. (OCIL) and Oceanic Well Profit, Inc., produces
and distributes home appliances, including stainless steel gas grills,
residential water pumps, electronic fans, fruit processors, and other electrical
appliances to retailers in the United States, Europe and Australia. The Company
became public through a reverse merger on October 4, 2006. To learn more about
the Company, please visit the Company's website at:
http://www.homesystemgroup.com.
Safe Harbor Statement
Certain statements in this news release may
contain certain forward- looking statements about Home System Group's business
and products, including, but not limited to, statements regarding Home System
Group's prospects after the acquisition of Weihe. Actual results may differ
materially from the results expressed in the forward-looking statements due to a
number of risk factors including, but not limited to: general economic and
business conditions globally; product development; shipments to end customers;
market acceptance of new and existing products; additional competition from
existing and new competitors; changes in technology; economic, political, and
social events in China and other regions and markets; securities markets trends;
regulations of the U. S. Securities and Exchange Commission (SEC) and various
other factors beyond the Company's control. All forward-looking statements are
expressly qualified in their entirety by this cautionary statement and by the
risk factors detailed in the Company's reports filed with the SEC. Home System
Group undertakes no duty to revise or update any forward-looking statements to
reflect events or circumstances after the date of this release.
For more information, please contact:
Michelle Zheng
Home System Group
Tel: +1-213-223-2277
Email: [email protected]
Matt Hayden
HC International, Inc.
Tel: +1-858-704-5065
Email: [email protected]
| [
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"O",
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1289848-000128984816000022-exhibit991-pressrelease | EX-99.1
3
exhibit991-pressrelease.htm
EXHIBIT 99.1
Exhibit
Exhibit 99.1
FOR IMMEDIATE RELEASE
January 4, 2016
Huron Consulting Group Closes Sale of Huron Legal Business
CHICAGO - January 4, 2016 - Huron Consulting Group (NASDAQ: HURN), a leading provider of business consulting services, today announced that the Company completed the sale of its Huron Legal practice to Consilio, Inc., a global leader in eDiscovery and document review services, on December 31, 2015.
Huron will concentrate its resources and investments in the Company's Healthcare, Education and Life Sciences and Business Advisory segments to drive future growth and generate long-term value for its shareholders.
For more information, please read the press release announcing the divestiture here.
About Huron Consulting Group
Huron Consulting Group helps clients in diverse industries improve performance, transform the enterprise, reduce costs, leverage technology, address regulatory changes, recover from distress and stimulate growth. Our professionals employ their expertise in finance, operations, strategy, analytics, and technology to provide our clients with specialized analyses and customized advice and solutions that are tailored to address each client's particular challenges and opportunities to deliver sustainable and measurable results. The Company provides consulting services to a wide variety of both financially sound and distressed organizations, including healthcare organizations, leading academic institutions, Fortune 500 companies and governmental entities. Huron has worked with more than 450 health systems, hospitals, and academic medical centers; and more than 400 universities and research institutions. Learn more at www.huronconsultinggroup.com.
Statements in this press release that are not historical in nature, including those concerning the Company's current expectations about its future requirements and needs, are "forward-looking" statements as defined in Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by words such as "may", "should", "expects", "provides", "anticipates", "assumes", "can", "will", "meets", "could", "likely", "intends", "might", "predicts", "seeks", "would", "believes", "estimates", "plans", or "continues." These forward-looking statements reflect our current expectations about our future requirements and needs, results, levels of activity, performance, or achievements. Some of the factors that could cause actual results to differ materially from the forward-looking statements contained herein include, without limitation: failure to achieve expected utilization rates, billing rates and the number of revenue-generating professionals; inability to expand or adjust our service offerings in response to market demands; our dependence on renewal of client-based services; dependence on new business and retention of current clients and qualified personnel; failure to maintain third-party provider relationships and strategic alliances; inability to license technology to and from third parties; the impairment of goodwill; various factors related to income and other taxes; difficulties in successfully integrating the businesses we acquire and achieving expected benefits from such acquisitions; risks relating to privacy, information security, and related laws and standards; and a general downturn in market conditions. These forward-looking statements involve known and unknown risks, uncertainties and other factors, including, among others, those described under "Item 1A. Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2014, that may cause actual results, levels of activity, performance or achievements to be materially different from any anticipated results, levels of activity, performance, or achievements expressed or
implied by these forward-looking statements. We disclaim any obligation to update or revise any forward-looking statements as a result of new information or future events, or for any other reason.
Media Contact:
Jenna Nichols
312-880-5693
[email protected]
Investor Contact:
C. Mark Hussey
or
John D. Kelly
312-583-8722
[email protected]
| [
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] |
1384072-000138407211000004-exhibit99-2 | EX-99.2
7
exhibit99-2.htm
BUSINESS OPPORTUNITY POLICY ADOPTED BY VANGUARD NATURAL RESOURCES, LLC AS OF DECEMBER 31, 2010.
exhibit99-2.htm
Exhibit 99.2
STATEMENT OF POLICIES RELATING TO THE CORPORATE
GOVERNANCE OF AND BUSINESS OPPORTUNITIES PRESENTED TO
VANGUARD NATURAL RESOURCES, LLC AND
ENCORE ENERGY PARTNERS LP
This Statement of Policies Related to the Corporate Governance of and Business Opportunities Presented to Vanguard Natural Resources, LLC ("
VNR
") and Encore Energy Partners LP ("
ENP
"), referred to herein as this "
Statement
", specifies the policies and procedures that have been adopted by VNR and ENP, as authorized and approved by the Board of Directors of VNR as of December 31, 2010, to address potential conflicts among VNR and ENP.
Corporate Governance
Conflicts Committees.
Each of VNR and the Board of Directors of Encore Energy Partners GP LLC, the general partner of ENP ("
ENP GP
") will maintain a Conflicts Committee of its Board of Directors that (i) is comprised entirely of directors who satisfy the independence requirements for Conflicts Committee members contained in the Second Amended and Restated Limited Liability Company Agreement of Vanguard Natural Resources, LLC, as it may be amended from time to time (the "
VNR LLC Agreement
") or the Second Amended and Restated Agreement of Limited Partnership of Encore Energy Partners LP, as it may be amended from time to time (the "
ENP LP Agreement
"), as applicable and (ii) otherwise satisfies the requirements contained in the definition of "Conflicts Committee" in the VNR LLC Agreement or ENP LP Agreement, as applicable.
Transactions between VNR and ENP Entities
Any material transaction between any of ENP or ENP GP or any of their respective subsidiaries (collectively, the "
ENP Entities
"), on the one hand, and VNR or any of its affiliates or subsidiaries other than the ENP Entities, on the other hand, will require (a) if the transaction relates to VNR, the prior approval of any of (i) the Board of Directors of VNR, (ii) the Conflicts Committee of the Board of Directors of VNR or (iii) another duly authorized committee of the Board of Directors of VNR and (b) if the transaction relates to an ENP Party, the prior approval of the Conflicts Committee of the Board of Directors of ENP GP. In addition, each of VNR and ENP will continue to be subject to their obligations under their respective credit agreements and partnership agreements related to transactions with affiliates
.
Business Opportunities
In the event that VNR or any of the ENP Entities (each a "
Business Opportunity Party
") is offered by a third party or discovers an opportunity (i) to acquire from a third party any properties, business, asset or entity or (ii) to develop, operate or construct any new property, pipeline, gathering system, storage facility or other facility or assets (each such opportunity a "
Business Opportunity
"), then any such Business Opportunity shall be allocated between VNR and ENP as provided in this section. In no event, however, will an opportunity for either VNR or ENP to acquire additional working or royalty interests in assets already held by either VNR or ENP, as applicable, be considered a Business Opportunity subject to this Statement.
1
ENP Area Business Opportunities.
If the Business Opportunity relates to a business, asset or entity located in:
·
the Big Horn Basin in Wyoming and Montana;
·
the Williston Basin in North Dakota and Montana;
·
the Arkoma Basin in Arkansas and Oklahoma; or
·
any other geographic area other than a VNR Area (as defined below);
(all such areas described in the above bullet points, collectively, the "
ENP Area
" and any Business Opportunity relating to a business, asset or entity located therein an "
ENP Area Business Opportunity
") then the Business Opportunity Party that is offered or discovers such ENP Area Business Opportunity shall promptly advise the Board of Directors of ENP GP and present such ENP Area Business Opportunity to ENP.
ENP shall be presumed to desire to pursue the ENP Area Business Opportunity until such time as ENP GP advises VNR that ENP has abandoned the pursuit of such ENP Area Business Opportunity. In the event that the purchase price associated with the ENP Business Opportunity is reasonably likely to equal or exceed $25,000,000 any decision to decline an ENP Area Business Opportunity shall only be made upon consultation with and subject to the approval of the Conflicts Committee of the Board of Directors of ENP GP. In the event that ENP abandons the ENP Area Business Opportunity and so notifies VNR, VNR shall have the right to pursue such ENP Area Business Opportunity.
VNR Area Business Opportunities.
If the Business Opportunity relates to a business, asset or entity located in:
·
the Appalachian Basin, including southeast Kentucky and northeast Tennessee;
·
south Texas; or
·
Mississippi;
(such areas described in the above bullet points, collectively, the "
VNR Area
" and any Business Opportunity relating to a business, asset or entity located therein a "
VNR Area Business Opportunity
") then the Business Opportunity Party that is offered or discovers such VNR Area Business Opportunity shall promptly advise the Board of Directors of VNR and present such VNR Area Business Opportunity to VNR.
VNR shall be presumed to desire to pursue the VNR Area Business Opportunity until such time as VNR advises ENP that VNR has abandoned the pursuit of such VNR Area Business Opportunity. In the event that the purchase price associated with the VNR Business Opportunity is reasonably likely to equal or exceed $25,000,000, any decision to decline a VNR Area Business Opportunity shall only be made upon consultation with and subject to the approval of (i) the Board of Directors of VNR, (ii) the Conflicts Committee of the Board of Directors of VNR or (iii) another duly authorized committee of the Board of Directors of VNR. In the event that VNR abandons the VNR Area Business Opportunity and so notifies ENP, ENP shall have the right to pursue such VNR Area Business Opportunity.
2
Joint Area Business Opportunities.
If the Business Opportunity relates to a business, asset or entity located in the Permian Basin in West Texas and New Mexico (such areas, the "
Joint Area
" and any Business Opportunity relating to a business, asset or entity located therein a "
Joint Area Business Opportunity
") then the Business Opportunity Party that is offered or discovers such Joint Area Business Opportunity shall promptly advise the Board of Directors of the other party to this Statement, VNR or ENP, as applicable. Each of VNR and ENP shall, upon completion of its necessary evaluation of the Joint Area Business Opportunity, inform each other whether or not such company intends to pursue the Joint Area Business Opportunity. In the event that the purchase price associated with the Joint Area Business Opportunity is reasonably likely to equal or exceed $25,000,000 any decision to decline a Joint Area Business Opportunity shall only be made (i) by VNR, upon consultation with and subject to the approval of (A) the Board of Directors of VNR, (B) the Conflicts Committee of the Board of Directors of VNR or (C) another duly authorized committee of the Board of Directors of VNR and (ii) by ENP, upon consultation with and subject to the approval of the Conflicts Committee of the Board of Directors of ENP GP.
In the event that both VNR and ENP wish to pursue the Joint Business Opportunity, then each company shall offer to the other the opportunity to participate in such Joint Area Business Opportunity on a 50/50 basis. If either VNR or ENP elects to abandon the Joint Area Business Opportunity and so notifies the other company, then such other company shall have the right to pursue such Joint Area Business Opportunity independently.
3
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"O",
"O",
"O",
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"O",
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] |
801748-000110465906059416-a06-19137_1ex99d9 | EX-99.9
10
a06-19137_1ex99d9.htm
EX-99.9
Exhibit
99.9
May 8, 2006
Teragenix Corporation
5440 NW 33rd Avenue, Suite 108
Ft. Lauderdale, FL 33309
HemaCare Corporation
21101 Oxnard Street
Woodland Hills, California 91367
Re: Agreement
to Replace Promissory Note
Dear Joe and Judi:
Reference is made to the following:
1. Promissory
Note in the principal amount of $450,000, dated November 11, 2005, issued by
Teragenix Corporation ("
Teragenix
") to the order of Lawrence Feldman
(the "
Existing Note
"); and
2. Non-Binding
Letter of Intent dated March 10, 2006 between HemaCare Corporation ("
HemaCare
")
and Teragenix (the "
LOI
").
The LOI sets forth the proposed terms for the
acquisition of 100% of the outstanding capital stock of Teragenix by HemaCare
(the "
Acquisition
"). One of the
terms of the Acquisition is the replacement of the Existing Note with a new
subordinated promissory note in the principal amount of $250,000, the form of
which is attached hereto as
Exhibit "A"
(the "
New Note
"). In furtherance of their desire to proceed
with the Acquisition, Teragenix and HemaCare have requested that the
undersigned agree to replace the Existing Note with the New Note. The replacement of the Existing Note with the
New Note would occur concurrently with the closing of the Acquisition.
In consideration of the shorter time to maturity in
the New Note relative to the Existing Note and the obligation of Teragenix to
pay interest annually in the New Note, as well as the benefits which the
undersigned expects Teragenix to realize as a result of the consummation of the
Acquisition, the undersigned hereby agrees to accept, concurrently with the
closing of the Acquisition, the New Note in substitution for the Existing Note
and agrees to the terms of the New Note as reflected on Exhibit "A".
1
Letter to Teragenix and HemaCare
May 8,
2006
This letter agreement constitutes the entire agreement
among the undersigned, Teragenix and HemaCare with respect to the subject
matter hereof and may be amended or modified only in a written agreement among
such parties. This letter agreement may
be executed in any number of counterparts and by different parties on separate
counterparts. Each of such counterparts
shall be deemed to be an original, and all of such counterparts, taken
together, shall constitute but one and the same agreement. Delivery of an executed counterpart of this
letter by telefacsimile shall be equally effective as delivery of a manually
executed counterpart.
[signature page to follow]
2
Letter to Teragenix and
HemaCare
May 8, 2006
Sincerely,
/s/ Lawrence Feldman
Lawrence Feldman
Acknowledged and Agreed:
TERAGENIX CORPORATION
By:
/s/ Joseph Mauro
Title: President
HEMACARE CORPORATION
By:
/s/ Judi Irving
Title:
President & CEO
3
EXHIBIT "A"
Form of New Note
[to be attached]
4
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1466085-000156459017019094-irt-ex991_6 | EX-99.1
2
irt-ex991_6.htm
EX-99.1 - PRESS RELEASE 9/26/17
irt-ex991_6.htm
Exhibit 99.1
Independence Realty Trust, Inc. Completes Acquisition of Four Communities
PHILADELPHIA - (BUSINESS WIRE) - September 26, 2017 - Independence Realty Trust, Inc. (NYSE: IRT) ("IRT") today announced the acquisition of four multifamily apartment communities, aggregating 917 units, representing the first phase of its previously announced acquisition of a nine community portfolio.
The remaining five communities are expected to close in succession during the fourth quarter of 2017, after and subject to the satisfaction of customary closing conditions, as well as the debt assumption process on three of the five communities.
"We are excited to announce the completion of the first phase of the portfolio acquisition and the implementation of our operational strategy to unlock value in the acquired assets", said Scott Schaeffer, Chairman and CEO of IRT. "We remain on track to complete the acquisition of the remaining five communities during the fourth quarter of 2017".
About Independence Realty Trust, Inc.
Independence Realty Trust (NYSE: IRT) is a real estate investment trust. After the acquisition of the nine community portfolio, IRT will own and operate 55 multifamily apartment properties, totaling 15,165 units, across non-gateway U.S. markets, including Louisville, Memphis, Atlanta and Raleigh. IRT's investment strategy is focused on gaining scale within key amenity rich submarkets that offer good school districts, high-quality retail and major employment centers. IRT aims to provide stockholders attractive risk-adjusted returns through diligent portfolio management, strong operational performance, and a consistent return of capital through distributions and capital appreciation.
Corporate Headquarters
Two Liberty Place
50 S. 16th Street, Suite 3575
Philadelphia, PA 19102
267-270-4800
Independence Realty Trust, Inc. Contacts
Ted McHugh and Lauren Tarola
Edelman Financial Communications & Capital Markets
Phone: 212-277-4322
Email:
[email protected]
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1392694-000114420408043303-v121633_ex99-1 | EX-99.1
3
v121633_ex99-1.htm
EXHIBIT
99.1
Company
Press Release
SOURCE:
Mar
ked Mineral Exploration, Inc.
MAR
KED MINERAL EXPLORATION, INC. ACQUIRES NORTH AMERICAN ENERGY EXPLORATION,
INC.
Austin,
TX - July 29, 2008 - Prime Newswire - Mar Ked Mineral Exploration, Inc.
(OTCBB:MKED),
announces today that the Company has acquired 100% of the issued and outstanding
stock of North American Energy Exploration, Inc. (NAEE) by delivering 21,000,000
restricted MKED common shares.
NAEE
is
an oil and gas exploration company that is currently focused on obtaining and
developing leases in Northern Oklahoma and Southern Kansas. NAEE's focus is the
development of coal bed methane wells whose geological structures for
development range from 650 feet to 1,500 feet in depth.
MKED
President, Ross Silvey, stated, "The acquisition of NAEE shifts the Company's
focus into oil and gas energy development. Our objective will be to immediately
begin acquiring mineral leases in order to increase the Company's drilling
activities".
Forward-Looking
Statements in this news release are made pursuant to the Safe Harbor Provisions
of the Private Securities Litigation Reform Act of 1995. These forward-looking
statements are subject to certain risks, and uncertainties and actual results
could differ from those discussed. This material is information only, and is
not
an offer or solicitation to buy or sell the securities.
Investor
Contact:
Ross
Silvey
(512)
300-7614
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1562214-000114420418029844-tv494620_ex99-1 | EX-99.1
4
tv494620_ex99-1.htm
EXHIBIT 99.1
Exhibit 99.1
PRESS RELEASE
CONTACT:
ZAIS Investor Relations
732-450-7440
ZAIS GROUP HOLDINGS, INC. ANNOUNCES COMPLETION
OF GOING PRIVATE TRANSACTION
Red Bank, NJ - May 18, 2018
- ZAIS Group Holdings, Inc. (NASDAQ: ZAIS) ("ZAIS" or the "Company") today announced that it has
completed the previously announced going private merger (the "Merger") of ZGH Merger Sub, Inc., a wholly-owned subsidiary
of the Company ("Merger Sub"), with and into the Company, whereby the Company survived the Merger and became a subsidiary
of Z Acquisition LLC, a Delaware limited liability company ("Parent") of which Christian Zugel, the Company's
Chairman and Chief Investment Officer ("Mr. Zugel"), is the sole managing member. The Merger was effected pursuant
to the terms of an Agreement and Plan of Merger (the "Merger Agreement"), dated as of January 11, 2018, by and among
the Company, Parent and Merger Sub.
At the effective time of the Merger, each
share of Class A common stock of the Company (" Class A Common Stock") issued and outstanding immediately prior to
the effective time of the Merger (with the exception of certain excluded shares) was converted into the right to receive $4.10
in cash, without interest and less any applicable withholding taxes (the "Merger Consideration"), in accordance with
the Merger Agreement. In addition, each restricted stock unit in respect of shares of Class A Common Stock ("RSU")
was converted into the right to receive the Merger Consideration multiplied by the number of shares underlying the RSU.
The Company today notified NASDAQ of the
completion of the Merger and requested that trading in the Class A Common Stock be suspended and that NASDAQ file with the Securities
and Exchange Commission ("SEC") a Notification of Removal from Listing and/or Registration under Section 12(b) of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), on Form 25, thereby commencing the process of delisting
and deregistering the Class A Common Stock. The Company intends to file a Form 15 to suspend its reporting obligations under Section
15(d) of the Exchange Act and to deregister its Class A Common Stock under Section 12(g) of the Exchange Act.
ABOUT ZAIS GROUP HOLDINGS, INC.
ZAIS is the managing member of, ZAIS Group
Parent, LLC ("ZGP"). ZGP is the sole member of ZAIS Group, LLC ("ZAIS Group"), an investment advisory
and asset management firm focused on specialized credit strategies with approximately $4.793 billion of assets under management
as of March 31, 2018. Based in Red Bank, New Jersey with operations in London, ZAIS Group employs professionals across investment
management, client relations, information technology, analytics, finance, law, compliance, risk management and operations. To
learn more, visit
www.zaisgroupholdings.com.
1
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS
This press release contains statements
that constitute "forward-looking statements", as such term is defined in Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered
by the safe harbor provided by the same. These statements are generally identified by the use of words such as "outlook,"
"believe", "expect", "potential", "continue", "may", "will,"
"should", "could", "would", "seek", "approximately", "predict,"
"intend", "plan", "estimate", "anticipate", "opportunity", "pipeline,"
"comfortable", "assume", "remain", "maintain", "sustain", "achieve"
or the negative version of those words or other comparable words. These statements are based on management's current
expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements. Risks, uncertainties and other factors include, but are not limited to,
those set forth in the Risk Factors section of the Company's Annual Report on Form 10-K and other reports filed by the Company
with the SEC, copies of which are available on the SEC's website, www.sec.gov
.. Consider those factors carefully in
evaluating the forward-looking statements. The Company undertakes no obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
2
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1477246-000113626115000008-exh99-1 | EX-99.1
23
exh99-1.htm
January 7, 2015 Exhibit 99.1
EXHIBIT 99.1
S&W Seed Company Signs Definitive
Agreements for $31.7 Million Financing to
Complete Purchase of DuPont Pioneer's Alfalfa
Business
Financing includes private placements of convertible debt with
warrants and common stock
For Immediate Release
Contact:
Robert Blum, Joe Dorame, Joe Diaz
Lytham Partners, LLC
602-889-9700
[email protected]
www.lythampartners.com
Matthew Szot
Chief Financial Officer
S&W Seed Company
559-884-2535
www.swseedco.com
FIVE POINTS, California - December 31, 2014 - S&W Seed Company (Nasdaq: SANW), announced today that it has entered into definitive agreements
with institutional and accredited investors for a private placement of convertible debt with warrants and a private placement of common stock to raise a total of $31.7 million to
complete the purchase of DuPont Pioneer's alfalfa research and production business. The private placements and the acquisition are expected to close simultaneously on
December 31, 2014.
In the private placement of convertible debt with warrants, the Company will issue $27.0 million of secured convertible debentures. The debentures are convertible at a
conversion price of $5.00 per share, bear interest at 8% per annum, and mature in 36 months from closing. The debenture holders will also receive warrants to purchase 2,700,000
shares of common stock at an exercise price of $5.00. The warrants will expire in 5.5 years.
In the private placement of common stock, the Company will issue to one institutional investor, MFP Partners, LP, 1,294,000 shares of its common stock at a purchase price of
$3.60 per share for gross proceeds of approximately $4.7 million. No warrants will be issued in connection with the common stock placement.
As previously announced, S&W intends to use the net proceeds of the private placements to complete the acquisition of DuPont Pioneer's alfalfa production and
research facility assets, as well as conventional (non-GMO) alfalfa germplasm. With the acquisition, S&W Seed Company will be the global leader in alfalfa seed, with
unrivaled research and development, production and distribution capabilities.
Craig-Hallum Capital Group served as the lead placement agent and Roth Capital Partners served as co-placement agent for the debenture offering. Piper Jaffray & Co.
acted as a financial advisor.
The securities offered in this financing transaction have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or applicable state
securities laws. Accordingly, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the
registration requirements of the Securities Act and such applicable state securities laws. As soon as practicable after the closing date of the debenture offering, but in no event
later than 90 days from the closing date, the Company shall seek stockholder approval for the issuance of the securities in the private placements in accordance with the
requirements of The NASDAQ Stock Market. If the Company fails to obtain such stockholder approval on its initial attempt, it will seek stockholder approval each calendar quarter
thereafter until such stockholder approval is obtained.
This press release includes a summary of the general terms of the concurrent debenture and common stock financings. A more complete description of the terms of the
financings will be included in a Report on Form 8-K to filed by S&W Seed Company with the SEC.
This release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction.
About S&W Seed Company
Founded in 1980, S&W Seed Company is a global agricultural company, headquartered in the Central Valley of California. The Company is the largest producer
of non-dormant alfalfa seed varieties in the world, with production operations in the San Joaquin and Imperial Valleys of California, as well as in South Australia. The Company has
worldwide sales and distribution through both a domestic direct sales force as well as dealer-distributors. The Company's proprietary varieties are designed to meet the shifting
needs of farmers that require high performance in poor and highly saline soil conditions and have been verified over decades of university-sponsored trials. Additionally, the
Company is utilizing its research and breeding expertise to develop and produce U.S.-based stevia leaf. Stevia is an all-natural, zero calorie sweetener for the food and beverage
industry. For more information, please visit www.swseedco.com.
Safe Harbor Statement for S&W Seed Company
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
"Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or
"should", "expected", "anticipates", "draft", "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause
future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from
those projected in the forward-looking statements as a result of various factors and other risks identified in the company's Annual Report on Form 10-K for the fiscal year ended June
30, 2014, its Quarterly Report on Form 10-Q for the period ended September 30, 2014, and in other filings made by the Company with the Securities and Exchange
Commission.
# # #
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"As",
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"practicable",
"after",
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"the",
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".",
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"will",
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"Form",
"8",
"-",
"K",
"to",
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"S",
"&",
"W",
"Seed",
"Company",
"with",
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"Company",
"Founded",
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",",
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"&",
"W",
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",",
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"Valley",
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"California",
".",
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"Company",
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"the",
"largest",
"producer",
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"-",
"dormant",
"alfalfa",
"seed",
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",",
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"Joaquin",
"and",
"Imperial",
"Valleys",
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",",
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"Australia",
".",
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"and",
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"soil",
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"-",
"sponsored",
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"U",
".",
"S",
".",
"-",
"based",
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".",
"For",
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"information",
",",
"please",
"visit",
"www.swseedco.com",
".",
"Safe",
"Harbor",
"Statement",
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"S",
"&",
"W",
"Seed",
"Company",
"This",
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"forward",
"-",
"looking",
"statements",
"\"",
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"27A",
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"Act",
"of",
"1933",
",",
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",",
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"Section",
"21E",
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"Securities",
"Exchange",
"Act",
"of",
"1934",
",",
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"-",
"looking",
"statements",
"are",
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"the",
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"Litigation",
"Reform",
"Act",
"of",
"1995",
".",
"\"",
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"-",
"looking",
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"\"",
"describe",
"future",
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",",
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",",
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"are",
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"preceded",
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"such",
"as",
"\"",
"may",
"\"",
",",
"\"",
"future",
"\"",
",",
"\"",
"plan",
"\"",
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"\"",
"planned",
"\"",
",",
"\"",
"will",
"\"",
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"\"",
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",",
"\"",
"expected",
"\"",
",",
"\"",
"anticipates",
"\"",
",",
"\"",
"draft",
"\"",
",",
"\"",
"eventually",
"\"",
"or",
"\"",
"projected",
".",
"\"",
"You",
"are",
"cautioned",
"that",
"such",
"statements",
"are",
"subject",
"to",
"a",
"multitude",
"of",
"risks",
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"looking",
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100591-000114420404013936-ex99-1 | EX-99.1
9
ex99-1.txt
Exhibit 99.1
NEWS - FOR IMMEDIATE RELEASE
DATE: SEPTEMBER 1, 2004
From: Argan, Inc.
Contact: Haywood Miller
Fax: 301-315-0064
Phone: 301-315-0027
ARGAN ANNOUNCES MERGER WITH VITARICH LABORATORIES
ROCKVILLE, MD - Argan, Inc. (OTC BB; BSE: AGAX.OB; AGX) announced today the
closing of its merger with Vitarich Laboratories, Inc. (Vitarich). Vitarich is a
farm-to-market, vertically integrated private label manufacturer that
manufactures, packages and distributes premium nutraceutical products, including
nutritional and whole-food dietary supplements and other personal healthcare
products. The company is headquartered in Naples, FL.
Rainer Bosselmann, Chairman and Chief Executive Officer of Argan, remarked,
"Vitarich is the kind of entrepreneurial company we like to invest in. It
positions us for entry into the nutraceutical industry that is characterized by
rapid growth, fragmentation and opportunities for innovation and consolidation.
We will continue to look for investment opportunities in this industry." In
addition he stated, "Vitarich has a premier management team that has an
excellent industry reputation for the research, development and manufacture of
innovative and premium nutraceutical products in its state-of-the-art
facilities." Vitarich CEO Kevin Thomas says that "the entire Vitarich management
team is energized by the combination with Argan and by what it means for the
future of the company. The entire Vitarich team will continue our commitment to
research, quality products and excellent customer service." Vitarich has
experienced substantial growth over the past few years, growing from $7 million
in revenue in calendar year 2000 to approximately $17 million over the past 12
months. For more information see www.vitarichlabs.com.
Argan, Inc., headquartered in Rockville, MD, is a farm-to-market, vertically
integrated private label manufacturer that manufactures, packages and
distributes premium nutraceutical products, including nutritional and whole-food
dietary supplements and other personal healthcare products. Diversely, Argan has
another wholly owned subsidiary, Southern Maryland Cable, Inc., that provides
inside premise wiring services to the federal government and also provides
underground and aerial construction services and splicing to major
telecommunications and utilities customers.
This press release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Although the Company
believes the assumptions underlying the forward-looking statements contained
herein, including the development plans of the Company, are reasonable, any of
the assumptions could be inaccurate, and therefore, there can be no assurance
that the forward-looking statements contained in the press release will prove to
be accurate. In light of significant uncertainties inherent in the
forward-looking statements included herein, the inclusion of such information
should not be regarded as a representation by the Company or any other person
that the objectives and plans of the Company will be achieved.
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877931-000119312506246282-dex991 | EX-99.1
6
dex991.htm
PRESS RELEASE
Press Release
Exhibit 99.1
Press Release
Source: Vertical Communications, Inc.
Vertical Completes Acquisition of Vodavi
CAMBRIDGE, Mass (December 1, 2006) -Vertical Communications (VRCC.OB) ("Vertical"), a leading provider of next-generation, IP-based phone systems and applications that help businesses better serve their
customers, announced today the completion of its acquisition of Phoenix, Arizona-based Vodavi Technology, Inc. (NASDAQ:VTEK-News
;
"Vodavi") for $7.50 per share, or approximately $31.1 million in the aggregate. To finance the
Vodavi acquisition as well as to provide additional corporate working capital, Vertical completed a private placement transaction through the issuance of convertible preferred stock of approximately $27 million and also secured debt financing of up
to $30 million. As a result of the merger, trading in Vodavi's stock has been suspended, and its shares will no longer be listed on the NASDAQ Capital Market. The combination of Vertical and Vodavi positions Vertical as a top-five telephony
vendor serving the small to medium-sized business (SMB) market in North America, based on line shipments.
"We are pleased to complete the Vodavi
acquisition and we look forward to working with our expanded base of employees and dealers in maximizing the benefits of this transaction", said Bill Tauscher, Chairman and Chief Executive Officer. "The Vodavi acquisition substantially
ratchets up our combined research and development footprint and should allow us to more rapidly bring innovative product solutions and enhancements to market. Additionally, the improved financial strength of the Company resulting from our recent
financing transactions benefits both dealers and their end customers".
Associated with the Vodavi acquisition, Vertical will benefit from a strategic
business relationship with LG-Nortel Co., Ltd. ("LGN"), formerly Vodavi's largest shareholder and currently its primary product development and manufacturing business partner. LGN, a worldwide leader in the telecommunications industry
with world-class product development and manufacturing capabilities, made a $6.5 million convertible preferred stock equity investment into Vertical and, consequently, owns approximately 11 percent of Vertical's fully diluted voting shares
outstanding.
Vertical was formed through the combination of three industry-leading companies. In September 2004, Artisoft acquired Vertical Networks to
form Vertical Communications, which then acquired the assets of Comdial in September 2005. Vertical has now completed the next step in its growth by acquiring Vodavi Technology, Inc. With a current installed base of over 200,000 customers, Vertical
now features more than 300 employees in six principal locations in the United States and Europe, and an active worldwide distribution channel of more than 2,000 value-added resellers, distributors and systems integrators.
Vertical's vision is to help organizations transform their businesses by unlocking the hidden potential of phone systems and voice to deliver enhanced customer
service, reduce communications costs and significantly improve operational efficiencies. This acquisition is the next step in a series of initiatives Vertical has undertaken to realize its vision of building a
world-class telephony organization, with the product set, market reach and channel footprint to deliver next-generation telephony solutions and voice
applications to customers ranging from small and medium-sized businesses to large, distributed enterprises.
For a more detailed description of the terms
and conditions of the acquisition, please see the Company's Form 8-K which will be filed with the Securities and Exchange Commission in connection with the consummation of the merger.
About Vertical
Vertical Communications, Inc. is a leading provider
of next-generation IP-based voice and data communications systems for business. Vertical combines voice and data technologies with business process understanding to deliver integrated IP-PBX and application solutions that enhance customer service
and business productivity. Vertical's customers are leading companies of all sizes-from small to large and distributed-and include CVS/pharmacy, Staples and Apria Healthcare. Vertical is headquartered in Cambridge, Mass. and delivers
its solutions through a worldwide network of systems integrators, resellers and distributors. For more information, please visit the company's Website at www.vertical.com.
###
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995.
This document contains forward-looking statements based on current expectations or beliefs, as well as a number of assumptions about future events, and
these statements are subject to important facts and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The forward-looking statements in this document address a variety of
subjects, including, without limitation, statements about the benefits the Company expects to achieve upon the acquisition of Vodavi, including, without limitation, the benefits that the acquisition will have on the Company's dealers and
customers and the anticipated benefits from the consolidation of the Company's and Vodavi's research and development resources; the Company's assumptions about the future performance of Vodavi; the Company's ability to achieve
certain synergies and economies of scale upon the completion of the acquisition; the Company's ability to become a significant player within the IP-PBX telephony market; the Company's ability to meet the future obligations that it has or
will incur after the closing of the acquisition, and others. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: the risk that the Company may fail to achieve
the anticipated benefits from the acquisition, including, without limitation, failing to obtain the desired benefits for the Company's dealers and customers or the failure to realize the anticipated benefits from the consolidation of the
Company's and Vodavi's research and development resources; the risk that the Company's assumptions about the future performance of Vodavi may prove to be incorrect; the risk that the Company may be unable to achieve the desired
synergies and economies of scale upon the completion of the acquisition; the risk that the Company may be unable to become a significant player within the IP-PBX telephony market; the risk that the Company may be unable to meet its future
obligations upon the closing of the acquisition; and other risks and assumptions detailed in the Company's filings with the Securities and Exchange Commission.
Trademark Information
Vertical Communications and the Vertical Communications logo and combinations thereof are trademarks of Vertical Communications, Inc. TeleVantage, InstantOffice and Vertical Networks are registered trademarks of Vertical Communications,
Inc. All other brand and product names are used for identification only and are the property of their respective holders.
Contact:
Financial Community Contact:
Vertical Communications, Inc.
Ken Clinebell, 941-554-5000 ext. 1513
[email protected]
or
Press Contact:
Vertical Communications, Inc.
Ann McDonough, 617-354-0600 ext. 194
[email protected]
| [
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"[email protected]"
] | [
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873860-000149315218014073-ex99-1 | EX-99.1
4
ex99-1.htm
Ocwen
Financial Corporation
®
FOR
IMMEDIATE RELEASE
OCWEN
FINANCIAL COMPLETES ACQUISITION OF PHH CORPORATION; GLEN MESSINA BECOMES PRESIDENT AND CHIEF EXECUTIVE OFFICER
West
Palm Beach, FL - (October 4, 2018) Ocwen Financial Corporation (NYSE:OCN) ("Ocwen" or the "Company")
,
a leading financial services holding company, today announced the completion of its acquisition of PHH Corporation ("PHH"),
a mortgage platform with established servicing and origination recapture capabilities, effective October 4, 2018 for approximately
$360 million in cash or $11 per diluted common share.
As
previously announced, concurrent with the closing of the PHH merger, Glen A. Messina became the President and Chief Executive
Officer of Ocwen and a member of Ocwen's Board of Directors.
"The
close of this acquisition marks a new chapter in our history, and creates a strong non-bank mortgage servicer, positioned for
growth, and better able to serve borrowers and loan investors", commented Phyllis
Caldwell, Chair of Ocwen's Board of Directors. "We believe our increased size and scale will create both strategic
and financial benefits including accelerating our transition to an industry leading servicing platform, reducing servicing, originating
and overhead costs on a combined basis through the realization of $100 million in targeted cost synergies and improved economies
of scale, and providing a foundation to enable Ocwen to resume new business and growth activities to offset portfolio runoff in
the future. We are excited to officially welcome Glen Messina and the PHH employees to the
Ocwen family".
The
newly combined company, as of June 30, 2018, services approximately 1.7 million loans with an unpaid principal balance of over
$296 billion. In 2017, the combined company originated more than $3 billion of residential mortgage loans including reverse mortgages.
In
connection with the completion of the acquisition, PHH has become a wholly-owned subsidiary of Ocwen and the common stock of PHH
has been delisted from the New York Stock Exchange.
About
Ocwen Financial Corporation
Ocwen
Financial Corporation is a financial services holding company which, through its subsidiaries, services and originates loans.
We are headquartered in West Palm Beach, Florida, with offices throughout the United States and in the U.S. Virgin Islands and
operations in India and the Philippines. We have been serving our customers since 1988. We may post information that is important
to investors on our website (
www.Ocwen.com).
Forward-Looking
Statements
This
press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may be identified by a reference
to a future period or by the use of forward-looking terminology. Forward-looking statements are typically identified by words
such as "believe", "expect", "foresee", "forecast", "anticipate",
"intend", "estimate", "goal", "strategy", "plan" "target"
and "project" or conditional verbs such as "will", "may", "should", "could"
or "would" or the negative of these terms, although not all forward-looking statements contain these words.
Forward-looking
statements by their nature address matters that are, to different degrees, uncertain. Our business has been undergoing substantial
change which has magnified such uncertainties. Readers should bear these factors in mind when considering such statements and
should not place undue reliance on such statements.
Forward-looking
statements involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially. In the
past, actual results have differed from those suggested by forward-looking statements and this may happen again.
Important
factors that could cause actual results to differ materially from those suggested by the forward-looking statements include, but
are not limited to, the following: our ability to successfully integrate PHH's business, and to realize the strategic objectives,
synergies and other benefits of the acquisition at the time anticipated or at all, including our ability to integrate, maintain
and enhance PHH's servicing, subservicing and other business relationships, including its relationship with New Residential
Investment Corp. (NRZ), uncertainty related to claims, litigation, cease and desist orders and investigations brought by government
agencies and private parties regarding our servicing, foreclosure, modification, origination and other practices, including uncertainty
related to past, present or future investigations, litigation, cease and desist orders and settlements with state regulators,
the Consumer Financial Protection Bureau (CFPB), State Attorneys General, the Securities and Exchange Commission (SEC), the Department
of Justice or the Department of Housing and Urban Development (HUD) and actions brought under the False Claims Act by private
parties on behalf of the United States of America regarding incentive and other payments made by governmental entities; adverse
effects on our business as a result of regulatory investigations, litigation, cease and desist orders or settlements; reactions
to the announcement of such investigations, litigation, cease and desist orders or settlements by key counterparties or others,
including lenders, the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie
Mac) and the Government National Mortgage Association (Ginnie Mae); our ability to comply with the terms of our settlements with
regulatory agencies and the costs of doing so, increased regulatory scrutiny and media attention; any adverse developments in
existing legal proceedings or the initiation of new legal proceedings; our ability to effectively manage our regulatory and contractual
compliance obligations; our ability to comply with our servicing and subservicing agreements, including our ability to comply
with our agreements with, and the requirements of, Fannie Mae, Freddie Mac and Ginnie Mae and maintain our seller/servicer and
other statuses with them; our ability to contain and reduce our operating costs, the adequacy of our financial resources, including
our sources of liquidity and ability to sell, fund and recover advances, repay borrowings and comply with our debt agreements,
including the financial and other covenants contained in them; our ability to timely transfer mortgage servicing rights under
our July 2017 agreements and January 2018 agreements with NRZ; our ability to maintain our long-term relationship with NRZ; our
ability to realize anticipated future gains from future draws on existing loans in our reverse mortgage portfolio; our servicer
and credit ratings as well as other actions from various rating agencies, including the impact of prior or future downgrades of
our servicer and credit ratings; our ability to execute an effective chief executive officer leadership transition; as well as
other risks detailed in Ocwen's and, prior to the merger closing, PHH's reports and filings with the SEC, including
each of their respective annual reports on Form 10-K for the year ended December 31, 2017 and any current and quarterly reports
since such date. Anyone wishing to understand Ocwen's business should review its and PHH's SEC filings. Ocwen's
forward-looking statements speak only as of the date they are made, and we disclaim any obligation to update or revise forward-looking
statements whether as a result of new information, future events or otherwise.
FOR
FURTHER INFORMATION CONTACT:
Investors:
Media:
Stephen
Swett
John
Lovallo
Dan
Rene
T:
(203) 614-0141
T:
(917) 612-8419
T:
(202) 973-1325
E:
[email protected]
E:
[email protected]
E:
[email protected]
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"CHIEF",
"EXECUTIVE",
"OFFICER",
"West",
"Palm",
"Beach",
",",
"FL",
"-",
"(",
"October",
"4",
",",
"2018",
")",
"Ocwen",
"Financial",
"Corporation",
"(",
"NYSE",
":",
"OCN",
")",
"(",
"\"",
"Ocwen",
"\"",
"or",
"the",
"\"",
"Company",
"\"",
")",
",",
"a",
"leading",
"financial",
"services",
"holding",
"company",
",",
"today",
"announced",
"the",
"completion",
"of",
"its",
"acquisition",
"of",
"PHH",
"Corporation",
"(",
"\"",
"PHH",
"\"",
")",
",",
"a",
"mortgage",
"platform",
"with",
"established",
"servicing",
"and",
"origination",
"recapture",
"capabilities",
",",
"effective",
"October",
"4",
",",
"2018",
"for",
"approximately",
"$",
"360 million",
"in",
"cash",
"or",
"$",
"11",
"per",
"diluted",
"common",
"share",
".",
"As",
"previously",
"announced",
",",
"concurrent",
"with",
"the",
"closing",
"of",
"the",
"PHH",
"merger",
",",
"Glen",
"A",
".",
"Messina",
"became",
"the",
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"and",
"Chief",
"Executive",
"Officer",
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"Ocwen",
"and",
"a",
"member",
"of",
"Ocwen",
"'s",
"Board",
"of",
"Directors",
".",
"\"",
"The",
"close",
"of",
"this",
"acquisition",
"marks",
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"new",
"chapter",
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"our",
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",",
"and",
"creates",
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"strong",
"non",
"-",
"bank",
"mortgage",
"servicer",
",",
"positioned",
"for",
"growth",
",",
"and",
"better",
"able",
"to",
"serve",
"borrowers",
"and",
"loan",
"investors",
"\"",
",",
"commented",
"Phyllis",
"Caldwell",
",",
"Chair",
"of",
"Ocwen",
"'s",
"Board",
"of",
"Directors",
".",
"\"",
"We",
"believe",
"our",
"increased",
"size",
"and",
"scale",
"will",
"create",
"both",
"strategic",
"and",
"financial",
"benefits",
"including",
"accelerating",
"our",
"transition",
"to",
"an",
"industry",
"leading",
"servicing",
"platform",
",",
"reducing",
"servicing",
",",
"originating",
"and",
"overhead",
"costs",
"on",
"a",
"combined",
"basis",
"through",
"the",
"realization",
"of",
"$",
"100 million",
"in",
"targeted",
"cost",
"synergies",
"and",
"improved",
"economies",
"of",
"scale",
",",
"and",
"providing",
"a",
"foundation",
"to",
"enable",
"Ocwen",
"to",
"resume",
"new",
"business",
"and",
"growth",
"activities",
"to",
"offset",
"portfolio",
"runoff",
"in",
"the",
"future",
".",
"We",
"are",
"excited",
"to",
"officially",
"welcome",
"Glen",
"Messina",
"and",
"the",
"PHH",
"employees",
"to",
"the",
"Ocwen",
"family",
"\"",
".",
"The",
"newly",
"combined",
"company",
",",
"as",
"of",
"June",
"30",
",",
"2018",
",",
"services",
"approximately",
"1",
".",
"7",
"million",
"loans",
"with",
"an",
"unpaid",
"principal",
"balance",
"of",
"over",
"$",
"296 billion",
".",
"In",
"2017",
",",
"the",
"combined",
"company",
"originated",
"more",
"than",
"$",
"3 billion",
"of",
"residential",
"mortgage",
"loans",
"including",
"reverse",
"mortgages",
".",
"In",
"connection",
"with",
"the",
"completion",
"of",
"the",
"acquisition",
",",
"PHH",
"has",
"become",
"a",
"wholly",
"-",
"owned",
"subsidiary",
"of",
"Ocwen",
"and",
"the",
"common",
"stock",
"of",
"PHH",
"has",
"been",
"delisted",
"from",
"the",
"New",
"York",
"Stock",
"Exchange",
".",
"About",
"Ocwen",
"Financial",
"Corporation",
"Ocwen",
"Financial",
"Corporation",
"is",
"a",
"financial",
"services",
"holding",
"company",
"which",
",",
"through",
"its",
"subsidiaries",
",",
"services",
"and",
"originates",
"loans",
".",
"We",
"are",
"headquartered",
"in",
"West",
"Palm",
"Beach",
",",
"Florida",
",",
"with",
"offices",
"throughout",
"the",
"United",
"States",
"and",
"in",
"the",
"U",
".",
"S",
".",
"Virgin",
"Islands",
"and",
"operations",
"in",
"India",
"and",
"the",
"Philippines",
".",
"We",
"have",
"been",
"serving",
"our",
"customers",
"since",
"1988",
".",
"We",
"may",
"post",
"information",
"that",
"is",
"important",
"to",
"investors",
"on",
"our",
"website",
"(",
"www.Ocwen.com",
")",
".",
"Forward",
"-",
"Looking",
"Statements",
"This",
"press",
"release",
"contains",
"forward",
"-",
"looking",
"statements",
"within",
"the",
"meaning",
"of",
"Section",
"27A",
"of",
"the",
"Securities",
"Act",
"of",
"1933",
",",
"as",
"amended",
",",
"and",
"Section",
"21E",
"of",
"the",
"Securities",
"Exchange",
"Act",
"of",
"1934",
",",
"as",
"amended",
".",
"These",
"forward",
"-",
"looking",
"statements",
"may",
"be",
"identified",
"by",
"a",
"reference",
"to",
"a",
"future",
"period",
"or",
"by",
"the",
"use",
"of",
"forward",
"-",
"looking",
"terminology",
".",
"Forward",
"-",
"looking",
"statements",
"are",
"typically",
"identified",
"by",
"words",
"such",
"as",
"\"",
"believe",
"\"",
",",
"\"",
"expect",
"\"",
",",
"\"",
"foresee",
"\"",
",",
"\"",
"forecast",
"\"",
",",
"\"",
"anticipate",
"\"",
",",
"\"",
"intend",
"\"",
",",
"\"",
"estimate",
"\"",
",",
"\"",
"goal",
"\"",
",",
"\"",
"strategy",
"\"",
",",
"\"",
"plan",
"\"",
"\"",
"target",
"\"",
"and",
"\"",
"project",
"\"",
"or",
"conditional",
"verbs",
"such",
"as",
"\"",
"will",
"\"",
",",
"\"",
"may",
"\"",
",",
"\"",
"should",
"\"",
",",
"\"",
"could",
"\"",
"or",
"\"",
"would",
"\"",
"or",
"the",
"negative",
"of",
"these",
"terms",
",",
"although",
"not",
"all",
"forward",
"-",
"looking",
"statements",
"contain",
"these",
"words",
".",
"Forward",
"-",
"looking",
"statements",
"by",
"their",
"nature",
"address",
"matters",
"that",
"are",
",",
"to",
"different",
"degrees",
",",
"uncertain",
".",
"Our",
"business",
"has",
"been",
"undergoing",
"substantial",
"change",
"which",
"has",
"magnified",
"such",
"uncertainties",
".",
"Readers",
"should",
"bear",
"these",
"factors",
"in",
"mind",
"when",
"considering",
"such",
"statements",
"and",
"should",
"not",
"place",
"undue",
"reliance",
"on",
"such",
"statements",
".",
"Forward",
"-",
"looking",
"statements",
"involve",
"a",
"number",
"of",
"assumptions",
",",
"risks",
"and",
"uncertainties",
"that",
"could",
"cause",
"actual",
"results",
"to",
"differ",
"materially",
".",
"In",
"the",
"past",
",",
"actual",
"results",
"have",
"differed",
"from",
"those",
"suggested",
"by",
"forward",
"-",
"looking",
"statements",
"and",
"this",
"may",
"happen",
"again",
".",
"Important",
"factors",
"that",
"could",
"cause",
"actual",
"results",
"to",
"differ",
"materially",
"from",
"those",
"suggested",
"by",
"the",
"forward",
"-",
"looking",
"statements",
"include",
",",
"but",
"are",
"not",
"limited",
"to",
",",
"the",
"following",
":",
"our",
"ability",
"to",
"successfully",
"integrate",
"PHH",
"'s",
"business",
",",
"and",
"to",
"realize",
"the",
"strategic",
"objectives",
",",
"synergies",
"and",
"other",
"benefits",
"of",
"the",
"acquisition",
"at",
"the",
"time",
"anticipated",
"or",
"at",
"all",
",",
"including",
"our",
"ability",
"to",
"integrate",
",",
"maintain",
"and",
"enhance",
"PHH",
"'s",
"servicing",
",",
"sub",
"servicing",
"and",
"other",
"business",
"relationships",
",",
"including",
"its",
"relationship",
"with",
"New",
"Residential",
"Investment",
"Corp",
".",
"(",
"NRZ",
")",
",",
"uncertainty",
"related",
"to",
"claims",
",",
"litigation",
",",
"cease",
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"desist",
"orders",
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"investigations",
"brought",
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"government",
"agencies",
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"private",
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"regarding",
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"servicing",
",",
"foreclosure",
",",
"modification",
",",
"origination",
"and",
"other",
"practices",
",",
"including",
"uncertainty",
"related",
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"past",
",",
"present",
"or",
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",",
"litigation",
",",
"cease",
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"orders",
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"state",
"regulators",
",",
"the",
"Consumer",
"Financial",
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"Bureau",
"(",
"CFPB",
")",
",",
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",",
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"and",
"Exchange",
"Commission",
"(",
"SEC",
")",
",",
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"Department",
"of",
"Justice",
"or",
"the",
"Department",
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"and",
"Urban",
"Development",
"(",
"HUD",
")",
"and",
"actions",
"brought",
"under",
"the",
"False",
"Claims",
"Act",
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"private",
"parties",
"on",
"behalf",
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"the",
"United",
"States",
"of",
"America",
"regarding",
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"and",
"other",
"payments",
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"by",
"governmental",
"entities",
";",
"adverse",
"effects",
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"our",
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"a",
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"of",
"regulatory",
"investigations",
",",
"litigation",
",",
"cease",
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";",
"reactions",
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",",
"litigation",
",",
"cease",
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"desist",
"orders",
"or",
"settlements",
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"or",
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",",
"including",
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",",
"the",
"Federal",
"National",
"Mortgage",
"Association",
"(",
"Fannie",
"Mae",
")",
",",
"the",
"Federal",
"Home",
"Loan",
"Mortgage",
"Corporation",
"(",
"Freddie",
"Mac",
")",
"and",
"the",
"Government",
"National",
"Mortgage",
"Association",
"(",
"Ginnie",
"Mae",
")",
";",
"our",
"ability",
"to",
"comply",
"with",
"the",
"terms",
"of",
"our",
"settlements",
"with",
"regulatory",
"agencies",
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"the",
"costs",
"of",
"doing",
"so",
",",
"increased",
"regulatory",
"scrutiny",
"and",
"media",
"attention",
";",
"any",
"adverse",
"developments",
"in",
"existing",
"legal",
"proceedings",
"or",
"the",
"initiation",
"of",
"new",
"legal",
"proceedings",
";",
"our",
"ability",
"to",
"effectively",
"manage",
"our",
"regulatory",
"and",
"contractual",
"compliance",
"obligations",
";",
"our",
"ability",
"to",
"comply",
"with",
"our",
"servicing",
"and",
"sub",
"servicing",
"agreements",
",",
"including",
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"ability",
"to",
"comply",
"with",
"our",
"agreements",
"with",
",",
"and",
"the",
"requirements",
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",",
"Fannie",
"Mae",
",",
"Freddie",
"Mac",
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"Mae",
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"seller",
"/",
"servicer",
"and",
"other",
"statuses",
"with",
"them",
";",
"our",
"ability",
"to",
"contain",
"and",
"reduce",
"our",
"operating",
"costs",
",",
"the",
"adequacy",
"of",
"our",
"financial",
"resources",
",",
"including",
"our",
"sources",
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"liquidity",
"and",
"ability",
"to",
"sell",
",",
"fund",
"and",
"recover",
"advances",
",",
"repay",
"borrowings",
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"comply",
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"debt",
"agreements",
",",
"including",
"the",
"financial",
"and",
"other",
"covenants",
"contained",
"in",
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";",
"our",
"ability",
"to",
"timely",
"transfer",
"mortgage",
"servicing",
"rights",
"under",
"our",
"July",
"2017",
"agreements",
"and",
"January",
"2018",
"agreements",
"with",
"NRZ",
";",
"our",
"ability",
"to",
"maintain",
"our",
"long",
"-",
"term",
"relationship",
"with",
"NRZ",
";",
"our",
"ability",
"to",
"realize",
"anticipated",
"future",
"gains",
"from",
"future",
"draws",
"on",
"existing",
"loans",
"in",
"our",
"reverse",
"mortgage",
"portfolio",
";",
"our",
"servicer",
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"ratings",
"as",
"well",
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"other",
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"from",
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",",
"including",
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"impact",
"of",
"prior",
"or",
"future",
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"servicer",
"and",
"credit",
"ratings",
";",
"our",
"ability",
"to",
"execute",
"an",
"effective",
"chief",
"executive",
"officer",
"leadership",
"transition",
";",
"as",
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"as",
"other",
"risks",
"detailed",
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"'s",
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",",
"prior",
"to",
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"closing",
",",
"PHH",
"'s",
"reports",
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"filings",
"with",
"the",
"SEC",
",",
"including",
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"on",
"Form",
"10",
"-",
"K",
"for",
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"year",
"ended",
"December",
"31",
",",
"2017",
"and",
"any",
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"and",
"quarterly",
"reports",
"since",
"such",
"date",
".",
"Anyone",
"wishing",
"to",
"understand",
"Ocwen",
"'s",
"business",
"should",
"review",
"its",
"and",
"PHH",
"'s",
"SEC",
"filings",
".",
"Ocwen",
"'s",
"forward",
"-",
"looking",
"statements",
"speak",
"only",
"as",
"of",
"the",
"date",
"they",
"are",
"made",
",",
"and",
"we",
"disclaim",
"any",
"obligation",
"to",
"update",
"or",
"revise",
"forward",
"-",
"looking",
"statements",
"whether",
"as",
"a",
"result",
"of",
"new",
"information",
",",
"future",
"events",
"or",
"otherwise",
".",
"FOR",
"FURTHER",
"INFORMATION",
"CONTACT",
":",
"Investors",
":",
"Media",
":",
"Stephen",
"Swett",
"John",
"Lovallo",
"Dan",
"Rene",
"T",
":",
"(",
"203",
")",
"614",
"-",
"0141",
"T",
":",
"(",
"917",
")",
"612",
"-",
"8419",
"T",
":",
"(",
"202",
")",
"973",
"-",
"1325",
"E",
":",
"[email protected]",
"E",
":",
"[email protected]",
"E",
":",
"[email protected]"
] | [
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"B-Parties.BUYING_COMPANY",
"I-Parties.BUYING_COMPANY",
"O",
"O",
"O",
"B-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"B-Parties.BUYING_COMPANY",
"I-Parties.BUYING_COMPANY",
"I-Parties.BUYING_COMPANY",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"B-Parties.ACQUIRED_COMPANY",
"I-Parties.ACQUIRED_COMPANY",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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50725-000110465910050933-a10-18754_1ex99d1 | EX-99.1
7
a10-18754_1ex99d1.htm
EX-99.1
EX-99.1
FOR
IMMEDIATE RELEASE
Griffon Announces Closing of Ames True Temper Acquisition
NEW
YORK, NEW YORK, September 30, 2010
- Griffon Corporation
("Griffon") (NYSE: GFF) today announced the closing of the acquisition of Ames True Temper, Inc. ("Ames") from
Castle Harlan Partners IV, a fund of Castle Harlan, Inc., for total
consideration of $542 million, subject to certain adjustments, plus related
transaction fees and expenses. Ames, headquartered in Camp Hill, PA, is the
leading North American manufacturer and marketer of non-powered lawn and garden
tools, wheelbarrows, and other outdoor work products to the retail and
professional markets. The acquisition
was completed under the terms of the purchase agreement entered into on July 19,
2010.
Griffon
acquired Ames and financed the acquisition through its wholly-owned subsidiary,
Clopay Ames True Temper Holding Corp. ("Clopay Ames"), which holds Griffon's
Clopay Building Products and Performance Plastics subsidiaries as well as Ames. In order to finance the acquisition and
refinance the existing Plastics and Building Products asset based lending
facility ("ABL"), Clopay Ames entered into a $375 million secured term loan
facility arranged by Goldman Sachs Lending Partners LLC and Deutsche Bank Securities
Inc., and a new $125 million ABL arranged by J.P. Morgan Securities LLC and
Deutsche Bank Securities Inc. In
addition, Griffon provided $168 million cash to Clopay Ames, and Clopay Ames
borrowed $25 million under the new ABL, to finance the acquisition. Griffon
holds cash balances in excess of $160 million following completion of the Ames
transaction.
The
transaction is expected to be accretive to cash flow and earnings per diluted
share ("EPS") in fiscal 2011. Griffon noted that, on a pro-forma basis, for the
latest twelve months ended June 30, 2010, revenue of the combined
companies approximates $1.7 billion compared to $1.27 billion for Griffon
standalone; pro-forma EPS would increase approximately 60% over Griffon
standalone EPS for the comparable period, inclusive of all expected costs of
financing the acquisition.
Ron
Kramer, Griffon's Chief Executive Officer, commented "We are excited to
announce the closing of this significant acquisition. Ames sells its products through an array of
well-recognized brands, has longstanding relationships with its major
customers, and has an outstanding, experienced management team. Ames recently announced the acquisition in
Australia of Westmix, a manufacturer and leading supplier of products for the
hardware industry. We believe there are
significant additional growth opportunities for Ames both in North America and
around the globe".
Ames'
products include: long handle tools, wheelbarrows, snow tools, pots &
planters, striking tools, and other outdoor work products. Its
brands include: Ames®, True Temper®, Ames True Temper®, Dynamic Design™,
Garant®, UnionTools®, Razor-Back®, Jackson® and Hound Dog®. Ames' brands
hold the number one or number two market positions in their respective major
product categories.
Forward-looking
Statements
"Safe Harbor"
Statements under the Private Securities Litigation Reform Act of 1995: All
statements related to, among other things, income, earnings, cash flows,
revenue, changes in operations, operating improvements, industries in which
Griffon operates and the United States and global economies that are not
historical are hereby identified as "forward-looking statements" and may be
indicated by words or phrases such as "anticipates", "supports", "plans,"
"projects", "expects", "believes", "should", "would", "could", "hope,"
"forecast", "management is of the opinion", "may", "will", "estimates,"
"intends", "explores", "opportunities", the negative of these expressions, use
of the future tense and similar words or phrases. Such forward-looking statements are subject
to inherent risks and uncertainties that could cause actual results to differ
materially from those expressed in any forward-looking statements. These risks
and uncertainties include, among others: current economic conditions and
uncertainties in the housing, credit and capital markets; Griffon's ability to
achieve expected savings from cost control, integration and disposal
initiatives; the ability to identify and successfully consummate and integrate
value-adding acquisition opportunities; increasing competition and pricing
pressures in the markets served by Griffon's operating companies; the ability
of Griffon's operating companies to expand into new geographic and product
markets and to anticipate and meet customer demands for new products and
product enhancements and innovations; a reduction by the government in military
spending on projects supplied by Griffon's Telephonics Corporation; increases
in cost of raw materials such as resin and steel; changes in customer demand;
political events that could impact the worldwide economy; a downgrade in the
credit ratings of Griffon or its subsidiaries; international economic
conditions including interest rate and currency exchange fluctuations; the
relative mix of products and services which impacts margins and operating
efficiencies; short-term capacity constraints or prolonged excess capacity;
unforeseen developments in contingencies such as litigation; unfavorable
results of government agency contract audits of Griffon's subsidiary,
Telephonics Corporation; protection and validity of patent and other
intellectual property rights; the cyclical nature of the business of certain
Griffon operating companies; and possible terrorist threats and actions, and
their impact on the global economy. Such
statements reflect the views of Griffon with respect to future events and are
subject to these and other risks, uncertainties and assumptions relating to the
operations, results of operations, growth strategy and liquidity of Griffon as
previously disclosed in Griffon's Securities and Exchange Commission
filings. Readers are cautioned not to
place undue reliance on these forward-looking statements. These forward-looking
statements speak only as of the date made. Griffon undertakes no obligation to
publicly update or revise any forward-looking statements, whether as a result
of new information, future events or otherwise, except as required by law.
About
Griffon Corporation
Griffon
is a diversified management and holding company that conducts business through
wholly-owned subsidiaries. Griffon oversees
the operations of its subsidiaries, allocates resources among them and manages
their capital structures. Griffon
provides direction and assistance to its subsidiaries in connection with
acquisition and growth opportunities as well as in connection with
divestitures. Griffon also seeks out,
evaluates and, when appropriate, will acquire additional businesses that offer
potentially attractive returns on capital to further diversify itself.
Griffon
currently conducts its operations through Telephonics Corporation, Clopay
Building Products Company and Clopay Plastic Products Company, and, as of
today, Ames True Temper, Inc.
2
· Telephonics Corporation' high-technology
engineering and manufacturing capabilities provide integrated information,
communication and sensor system solutions to military and commercial markets
worldwide.
· Clopay Building Products Company is a leading
manufacturer and marketer of residential, commercial and industrial garage
doors to professional installing dealers and major home center retail chains.
· Clopay Plastic Products Company is an
international leader in the development and production of embossed, laminated
and printed specialty plastic films used in a variety of hygienic, health-care
and industrial applications.
For more
information on Griffon and its operating subsidiaries, please see Griffon's
website at www.griffoncorp.com.
Company
Contact:
Investor
Relations Contact:
Douglas
J. Wetmore
James
Palczynski
Chief
Financial Officer
Principal
and Director
Griffon
Corporation
ICR
Inc.
(212)
957-5000
(203)
682-8229
712
Fifth Avenue, 18th Floor
New
York, NY 10019
3
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"Griffon",
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".",
",",
"for",
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",",
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"adjustments",
",",
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"expenses",
".",
"Ames",
",",
"headquartered",
"in",
"Camp",
"Hill",
",",
"PA",
",",
"is",
"the",
"leading",
"North",
"American",
"manufacturer",
"and",
"marketer",
"of",
"non",
"-",
"powered",
"lawn",
"and",
"garden",
"tools",
",",
"wheelbarrows",
",",
"and",
"other",
"outdoor",
"work",
"products",
"to",
"the",
"retail",
"and",
"professional",
"markets",
".",
"The",
"acquisition",
"was",
"completed",
"under",
"the",
"terms",
"of",
"the",
"purchase",
"agreement",
"entered",
"into",
"on",
"July",
"19",
",",
"2010",
".",
"Griffon",
"acquired",
"Ames",
"and",
"financed",
"the",
"acquisition",
"through",
"its",
"wholly",
"-",
"owned",
"subsidiary",
",",
"Clopay",
"Ames",
"True",
"Temper",
"Holding",
"Corp",
".",
"(",
"\"",
"Clopay",
"Ames",
"\"",
")",
",",
"which",
"holds",
"Griffon",
"'s",
"Clopay",
"Building",
"Products",
"and",
"Performance",
"Plastics",
"subsidiaries",
"as",
"well",
"as",
"Ames",
".",
"In",
"order",
"to",
"finance",
"the",
"acquisition",
"and",
"refinance",
"the",
"existing",
"Plastics",
"and",
"Building",
"Products",
"asset",
"based",
"lending",
"facility",
"(",
"\"",
"ABL",
"\"",
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",",
"Clopay",
"Ames",
"entered",
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"a",
"$",
"375 million",
"secured",
"term",
"loan",
"facility",
"arranged",
"by",
"Goldman",
"Sachs",
"Lending",
"Partners",
"LLC",
"and",
"Deutsche",
"Bank",
"Securities",
"Inc",
".",
",",
"and",
"a",
"new",
"$",
"125 million",
"ABL",
"arranged",
"by",
"J",
".",
"P",
".",
"Morgan",
"Securities",
"LLC",
"and",
"Deutsche",
"Bank",
"Securities",
"Inc",
".",
"In",
"addition",
",",
"Griffon",
"provided",
"$",
"168 million",
"cash",
"to",
"Clopay",
"Ames",
",",
"and",
"Clopay",
"Ames",
"borrowed",
"$",
"25 million",
"under",
"the",
"new",
"ABL",
",",
"to",
"finance",
"the",
"acquisition",
".",
"Griffon",
"holds",
"cash",
"balances",
"in",
"excess",
"of",
"$",
"160 million",
"following",
"completion",
"of",
"the",
"Ames",
"transaction",
".",
"The",
"transaction",
"is",
"expected",
"to",
"be",
"accretive",
"to",
"cash",
"flow",
"and",
"earnings",
"per",
"diluted",
"share",
"(",
"\"",
"EPS",
"\"",
")",
"in",
"fiscal",
"2011",
".",
"Griffon",
"noted",
"that",
",",
"on",
"a",
"pro",
"-",
"forma",
"basis",
",",
"for",
"the",
"latest",
"twelve",
"months",
"ended",
"June",
"30",
",",
"2010",
",",
"revenue",
"of",
"the",
"combined",
"companies",
"approximates",
"$",
"1.7 billion",
"compared",
"to",
"$",
"1.27 billion",
"for",
"Griffon",
"standalone",
";",
"pro",
"-",
"forma",
"EPS",
"would",
"increase",
"approximately",
"60",
"%",
"over",
"Griffon",
"standalone",
"EPS",
"for",
"the",
"comparable",
"period",
",",
"inclusive",
"of",
"all",
"expected",
"costs",
"of",
"financing",
"the",
"acquisition",
".",
"Ron",
"Kramer",
",",
"Griffon",
"'s",
"Chief",
"Executive",
"Officer",
",",
"commented",
"\"",
"We",
"are",
"excited",
"to",
"announce",
"the",
"closing",
"of",
"this",
"significant",
"acquisition",
".",
"Ames",
"sells",
"its",
"products",
"through",
"an",
"array",
"of",
"well",
"-",
"recognized",
"brands",
",",
"has",
"longstanding",
"relationships",
"with",
"its",
"major",
"customers",
",",
"and",
"has",
"an",
"outstanding",
",",
"experienced",
"management",
"team",
".",
"Ames",
"recently",
"announced",
"the",
"acquisition",
"in",
"Australia",
"of",
"Westmix",
",",
"a",
"manufacturer",
"and",
"leading",
"supplier",
"of",
"products",
"for",
"the",
"hardware",
"industry",
".",
"We",
"believe",
"there",
"are",
"significant",
"additional",
"growth",
"opportunities",
"for",
"Ames",
"both",
"in",
"North",
"America",
"and",
"around",
"the",
"globe",
"\"",
".",
"Ames",
"'",
"products",
"include",
":",
"long",
"handle",
"tools",
",",
"wheelbarrows",
",",
"snow",
"tools",
",",
"pots",
"&",
"planters",
",",
"striking",
"tools",
",",
"and",
"other",
"outdoor",
"work",
"products",
".",
"Its",
"brands",
"include",
":",
"Ames",
"®",
",",
"True",
"Temper",
"®",
",",
"Ames",
"True",
"Temper",
"®",
",",
"Dynamic",
"Design",
"™",
",",
"Garant",
"®",
",",
"UnionTools",
"®",
",",
"Razor",
"-",
"Back",
"®",
",",
"Jackson",
"®",
"and",
"Hound",
"Dog",
"®",
".",
"Ames",
"'",
"brands",
"hold",
"the",
"number",
"one",
"or",
"number",
"two",
"market",
"positions",
"in",
"their",
"respective",
"major",
"product",
"categories",
".",
"Forward",
"-",
"looking",
"Statements",
"\"",
"Safe",
"Harbor",
"\"",
"Statements",
"under",
"the",
"Private",
"Securities",
"Litigation",
"Reform",
"Act",
"of",
"1995",
":",
"All",
"statements",
"related",
"to",
",",
"among",
"other",
"things",
",",
"income",
",",
"earnings",
",",
"cash",
"flows",
",",
"revenue",
",",
"changes",
"in",
"operations",
",",
"operating",
"improvements",
",",
"industries",
"in",
"which",
"Griffon",
"operates",
"and",
"the",
"United",
"States",
"and",
"global",
"economies",
"that",
"are",
"not",
"historical",
"are",
"hereby",
"identified",
"as",
"\"",
"forward",
"-",
"looking",
"statements",
"\"",
"and",
"may",
"be",
"indicated",
"by",
"words",
"or",
"phrases",
"such",
"as",
"\"",
"anticipates",
"\"",
",",
"\"",
"supports",
"\"",
",",
"\"",
"plans",
",",
"\"",
"\"",
"projects",
"\"",
",",
"\"",
"expects",
"\"",
",",
"\"",
"believes",
"\"",
",",
"\"",
"should",
"\"",
",",
"\"",
"would",
"\"",
",",
"\"",
"could",
"\"",
",",
"\"",
"hope",
",",
"\"",
"\"",
"forecast",
"\"",
",",
"\"",
"management",
"is",
"of",
"the",
"opinion",
"\"",
",",
"\"",
"may",
"\"",
",",
"\"",
"will",
"\"",
",",
"\"",
"estimates",
",",
"\"",
"\"",
"intends",
"\"",
",",
"\"",
"explores",
"\"",
",",
"\"",
"opportunities",
"\"",
",",
"the",
"negative",
"of",
"these",
"expressions",
",",
"use",
"of",
"the",
"future",
"tense",
"and",
"similar",
"words",
"or",
"phrases",
".",
"Such",
"forward",
"-",
"looking",
"statements",
"are",
"subject",
"to",
"inherent",
"risks",
"and",
"uncertainties",
"that",
"could",
"cause",
"actual",
"results",
"to",
"differ",
"materially",
"from",
"those",
"expressed",
"in",
"any",
"forward",
"-",
"looking",
"statements",
".",
"These",
"risks",
"and",
"uncertainties",
"include",
",",
"among",
"others",
":",
"current",
"economic",
"conditions",
"and",
"uncertainties",
"in",
"the",
"housing",
",",
"credit",
"and",
"capital",
"markets",
";",
"Griffon",
"'s",
"ability",
"to",
"achieve",
"expected",
"savings",
"from",
"cost",
"control",
",",
"integration",
"and",
"disposal",
"initiatives",
";",
"the",
"ability",
"to",
"identify",
"and",
"successfully",
"consummate",
"and",
"integrate",
"value",
"-",
"adding",
"acquisition",
"opportunities",
";",
"increasing",
"competition",
"and",
"pricing",
"pressures",
"in",
"the",
"markets",
"served",
"by",
"Griffon",
"'s",
"operating",
"companies",
";",
"the",
"ability",
"of",
"Griffon",
"'s",
"operating",
"companies",
"to",
"expand",
"into",
"new",
"geographic",
"and",
"product",
"markets",
"and",
"to",
"anticipate",
"and",
"meet",
"customer",
"demands",
"for",
"new",
"products",
"and",
"product",
"enhancements",
"and",
"innovations",
";",
"a",
"reduction",
"by",
"the",
"government",
"in",
"military",
"spending",
"on",
"projects",
"supplied",
"by",
"Griffon",
"'s",
"Telephonics",
"Corporation",
";",
"increases",
"in",
"cost",
"of",
"raw",
"materials",
"such",
"as",
"resin",
"and",
"steel",
";",
"changes",
"in",
"customer",
"demand",
";",
"political",
"events",
"that",
"could",
"impact",
"the",
"worldwide",
"economy",
";",
"a",
"downgrade",
"in",
"the",
"credit",
"ratings",
"of",
"Griffon",
"or",
"its",
"subsidiaries",
";",
"international",
"economic",
"conditions",
"including",
"interest",
"rate",
"and",
"currency",
"exchange",
"fluctuations",
";",
"the",
"relative",
"mix",
"of",
"products",
"and",
"services",
"which",
"impacts",
"margins",
"and",
"operating",
"efficiencies",
";",
"short",
"-",
"term",
"capacity",
"constraints",
"or",
"prolonged",
"excess",
"capacity",
";",
"unforeseen",
"developments",
"in",
"contingencies",
"such",
"as",
"litigation",
";",
"unfavorable",
"results",
"of",
"government",
"agency",
"contract",
"audits",
"of",
"Griffon",
"'s",
"subsidiary",
",",
"Telephonics",
"Corporation",
";",
"protection",
"and",
"validity",
"of",
"patent",
"and",
"other",
"intellectual",
"property",
"rights",
";",
"the",
"cyclical",
"nature",
"of",
"the",
"business",
"of",
"certain",
"Griffon",
"operating",
"companies",
";",
"and",
"possible",
"terrorist",
"threats",
"and",
"actions",
",",
"and",
"their",
"impact",
"on",
"the",
"global",
"economy",
".",
"Such",
"statements",
"reflect",
"the",
"views",
"of",
"Griffon",
"with",
"respect",
"to",
"future",
"events",
"and",
"are",
"subject",
"to",
"these",
"and",
"other",
"risks",
",",
"uncertainties",
"and",
"assumptions",
"relating",
"to",
"the",
"operations",
",",
"results",
"of",
"operations",
",",
"growth",
"strategy",
"and",
"liquidity",
"of",
"Griffon",
"as",
"previously",
"disclosed",
"in",
"Griffon",
"'s",
"Securities",
"and",
"Exchange",
"Commission",
"filings",
".",
"Readers",
"are",
"cautioned",
"not",
"to",
"place",
"undue",
"reliance",
"on",
"these",
"forward",
"-",
"looking",
"statements",
".",
"These",
"forward",
"-",
"looking",
"statements",
"speak",
"only",
"as",
"of",
"the",
"date",
"made",
".",
"Griffon",
"undertakes",
"no",
"obligation",
"to",
"publicly",
"update",
"or",
"revise",
"any",
"forward",
"-",
"looking",
"statements",
",",
"whether",
"as",
"a",
"result",
"of",
"new",
"information",
",",
"future",
"events",
"or",
"otherwise",
",",
"except",
"as",
"required",
"by",
"law",
".",
"About",
"Griffon",
"Corporation",
"Griffon",
"is",
"a",
"diversified",
"management",
"and",
"holding",
"company",
"that",
"conducts",
"business",
"through",
"wholly",
"-",
"owned",
"subsidiaries",
".",
"Griffon",
"oversees",
"the",
"operations",
"of",
"its",
"subsidiaries",
",",
"allocates",
"resources",
"among",
"them",
"and",
"manages",
"their",
"capital",
"structures",
".",
"Griffon",
"provides",
"direction",
"and",
"assistance",
"to",
"its",
"subsidiaries",
"in",
"connection",
"with",
"acquisition",
"and",
"growth",
"opportunities",
"as",
"well",
"as",
"in",
"connection",
"with",
"divestitures",
".",
"Griffon",
"also",
"seeks",
"out",
",",
"evaluates",
"and",
",",
"when",
"appropriate",
",",
"will",
"acquire",
"additional",
"businesses",
"that",
"offer",
"potentially",
"attractive",
"returns",
"on",
"capital",
"to",
"further",
"diversify",
"itself",
".",
"Griffon",
"currently",
"conducts",
"its",
"operations",
"through",
"Telephonics",
"Corporation",
",",
"Clopay",
"Building",
"Products",
"Company",
"and",
"Clopay",
"Plastic",
"Products",
"Company",
",",
"and",
",",
"as",
"of",
"today",
",",
"Ames",
"True",
"Temper",
",",
"Inc",
".",
"2",
"·",
"Telephonics",
"Corporation",
"'",
"high",
"-",
"technology",
"engineering",
"and",
"manufacturing",
"capabilities",
"provide",
"integrated",
"information",
",",
"communication",
"and",
"sensor",
"system",
"solutions",
"to",
"military",
"and",
"commercial",
"markets",
"worldwide",
".",
"·",
"Clopay",
"Building",
"Products",
"Company",
"is",
"a",
"leading",
"manufacturer",
"and",
"marketer",
"of",
"residential",
",",
"commercial",
"and",
"industrial",
"garage",
"doors",
"to",
"professional",
"installing",
"dealers",
"and",
"major",
"home",
"center",
"retail",
"chains",
".",
"·",
"Clopay",
"Plastic",
"Products",
"Company",
"is",
"an",
"international",
"leader",
"in",
"the",
"development",
"and",
"production",
"of",
"embossed",
",",
"laminated",
"and",
"printed",
"specialty",
"plastic",
"films",
"used",
"in",
"a",
"variety",
"of",
"hygienic",
",",
"health",
"-",
"care",
"and",
"industrial",
"applications",
".",
"For",
"more",
"information",
"on",
"Griffon",
"and",
"its",
"operating",
"subsidiaries",
",",
"please",
"see",
"Griffon",
"'s",
"website",
"at",
"www.griffoncorp.com",
".",
"Company",
"Contact",
":",
"Investor",
"Relations",
"Contact",
":",
"Douglas",
"J",
".",
"Wetmore",
"James",
"Palczynski",
"Chief",
"Financial",
"Officer",
"Principal",
"and",
"Director",
"Griffon",
"Corporation",
"ICR",
"Inc",
".",
"(",
"212",
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"957",
"-",
"5000",
"(",
"203",
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"682",
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"8229",
"712",
"Fifth",
"Avenue",
",",
"18th",
"Floor",
"New",
"York",
",",
"NY",
"10019",
"3"
] | [
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"B-Parties.BUYING_COMPANY",
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317788-000114420413021446-v341269_ex99-1 | EX-99.1
2
v341269_ex99-1.htm
EXHIBIT 99.1
Mandalay Digital Group Completes Acquisition
of mia in Asia Pacific
Acquisition Will Enhance Revenue and
Cash Flow
Expands Distribution Channel for Digital
Turbine and Enhances Content Offerings and Services
LOS ANGELES - April 12 - Mandalay Digital Group,
Inc. (OTC Markets: MNDL) today announced it has closed the acquisition of mia, a leading mobile solutions provider based in Australia.
mia has extensive content licenses with major brands, a proprietary content management system and billing integration. Its customers
include tier-1 operators such as Vodafone Hutchison Australia, SingTel Optus and Telstra.
"Our acquisition of mia enables us to expand the Digital
Turbine footprint into the Asia Pacific region while also allowing us to leverage key synergies between the companies including
distribution channels, content, product offerings, services and personnel", stated Peter Adderton, chief executive officer
of Mandalay Digital Group. "mia is a proven company with an established and profitable business model that we expect to add
approximately $13 million to Mandalay Digital Group revenues over the next 12 months and enhance our cash flow profile. The acquisition
is another example of Mandalay's strategy of acquiring companies that add both immediate financial growth and further our
strategic initiative of creating the preeminent content management platform for OEM, carrier and media partners across the globe".
The Digital Turbine technology platform allows media companies,
mobile carriers and their OEM handset partners to take advantage of multiple mobile operating systems across multiple networks,
while maintaining their own branding and personalized, one-to-one relationships with each end-user.
Please see the Current Report on Form 8-K we previously filed
today for material information about the purchase consideration, financing terms and other material aspects of the mia transaction.
Such Current Report can be accessed through the SEC's website at
www.sec.gov.
About Mandalay Digital Group
Mandalay Digital
Group is at the convergence of internet media content and mobile communications. It delivers a mobile services platform that works
with mobile operators and third-party publishers to provide portal management, user interface, content development and billing
technology that enables the responsible distribution of mobile entertainment. Mandalay Digital is headquartered in Los Angeles
and has offices in Europe, Israel and Latin America to support global sales and marketing. For additional information, visit
www.mandalaydigital.com
.
About mia
Founded in 2003, mia enables experiences
on connected devices by enabling the delivery of content and applications to multiple devices, across any network, in any format.
mia's Sphere platform enables carriers, media companies and brands to work together, providing the best user experience
and lowering the cost of delivery. Today mia facilitates more than 800 live services including being the second largest digital
music retailer in Australia. For additional information, visit
http://www.mia.com.au/.
Forward Looking Statement
Statements in this news release concerning future results from operations, financial position, economic conditions, product releases
and any other statement that may be construed as a prediction of future performance or events are forward-looking statements which
involve known and unknown risks, uncertainties and other factors which may cause actual results to differ materially from those
expressed or implied by such statements. When used in this news release, the words "anticipate", "believe,"
"estimate", "expect", "will", "seeks", "should", "could",
"would", "may" and similar expressions, are intended to identify such forward-looking statements.
Our actual results, performance or achievements could differ
materially from those expressed in, or implied by, these forward-looking statements as a result of a variety of factors, such as;
changes in international regulatory and compliance requirements that could restrict our ability to develop, market and sell our
products; social, political or economic instability or recessions; diminished protection of intellectual property in some countries
outside of the United States; difficulty in hiring, staffing and managing qualified and proficient local employees and advisors
to run international operations; the difficulty of managing and operating an international enterprise, including difficulties in
maintaining effective communications with employees and customers due to distance, language and cultural barriers; differing labor
regulations and business practices; higher operating costs due to local laws or regulations; fluctuations in foreign economies
and currency exchange rates; difficulty in enforcing agreements; the potential impairment of tangible assets, intangible assets
and goodwill acquired in acquisitions; and potentially negative consequences from changes in or interpretations of tax laws, post-acquisition.
Other factors include uncertainties as to ability to raise new capital on acceptable terms or at all, ability to identify and consummate
roll-up acquisitions targets, levels of orders, ability to record revenues, release schedules, finalization and market acceptance
of new products, changes in economic conditions and market demand, pricing and other activities by competitors, and other risks
including those described from time to time in Mandalay Digital Group's filings on Forms 10-K and 10-Q with the Securities
and Exchange Commission (SEC), press releases and other communications.
Any of these factors may, individually or as a group, have a
material adverse effect on our business and results of operations.
We do not undertake any obligation to update any forward-looking
statements. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on known results
and trends at the time they are made, to anticipate future results or trends.
| [
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"EXHIBIT",
"99",
".",
"1",
"Mandalay",
"Digital",
"Group",
"Completes",
"Acquisition",
"of",
"mia",
"in",
"Asia",
"Pacific",
"Acquisition",
"Will",
"Enhance",
"Revenue",
"and",
"Cash",
"Flow",
"Expands",
"Distribution",
"Channel",
"for",
"Digital",
"Turbine",
"and",
"Enhances",
"Content",
"Offerings",
"and",
"Services",
"LOS",
"ANGELES",
"-",
"April",
"12",
"-",
"Mandalay",
"Digital",
"Group",
",",
"Inc",
".",
"(",
"OTC",
"Markets",
":",
"MNDL",
")",
"today",
"announced",
"it",
"has",
"closed",
"the",
"acquisition",
"of",
"mia",
",",
"a",
"leading",
"mobile",
"solutions",
"provider",
"based",
"in",
"Australia",
".",
"mia",
"has",
"extensive",
"content",
"licenses",
"with",
"major",
"brands",
",",
"a",
"proprietary",
"content",
"management",
"system",
"and",
"billing",
"integration",
".",
"Its",
"customers",
"include",
"tier",
"-",
"1",
"operators",
"such",
"as",
"Vodafone",
"Hutchison",
"Australia",
",",
"SingTel",
"Optus",
"and",
"Telstra",
".",
"\"",
"Our",
"acquisition",
"of",
"mia",
"enables",
"us",
"to",
"expand",
"the",
"Digital",
"Turbine",
"footprint",
"into",
"the",
"Asia",
"Pacific",
"region",
"while",
"also",
"allowing",
"us",
"to",
"leverage",
"key",
"synergies",
"between",
"the",
"companies",
"including",
"distribution",
"channels",
",",
"content",
",",
"product",
"offerings",
",",
"services",
"and",
"personnel",
"\"",
",",
"stated",
"Peter",
"Adderton",
",",
"chief",
"executive",
"officer",
"of",
"Mandalay",
"Digital",
"Group",
".",
"\"",
"mia",
"is",
"a",
"proven",
"company",
"with",
"an",
"established",
"and",
"profitable",
"business",
"model",
"that",
"we",
"expect",
"to",
"add",
"approximately",
"$",
"13 million",
"to",
"Mandalay",
"Digital",
"Group",
"revenues",
"over",
"the",
"next",
"12",
"months",
"and",
"enhance",
"our",
"cash",
"flow",
"profile",
".",
"The",
"acquisition",
"is",
"another",
"example",
"of",
"Mandalay",
"'s",
"strategy",
"of",
"acquiring",
"companies",
"that",
"add",
"both",
"immediate",
"financial",
"growth",
"and",
"further",
"our",
"strategic",
"initiative",
"of",
"creating",
"the",
"preeminent",
"content",
"management",
"platform",
"for",
"OEM",
",",
"carrier",
"and",
"media",
"partners",
"across",
"the",
"globe",
"\"",
".",
"The",
"Digital",
"Turbine",
"technology",
"platform",
"allows",
"media",
"companies",
",",
"mobile",
"carriers",
"and",
"their",
"OEM",
"handset",
"partners",
"to",
"take",
"advantage",
"of",
"multiple",
"mobile",
"operating",
"systems",
"across",
"multiple",
"networks",
",",
"while",
"maintaining",
"their",
"own",
"branding",
"and",
"personalized",
",",
"one",
"-",
"to",
"-",
"one",
"relationships",
"with",
"each",
"end",
"-",
"user",
".",
"Please",
"see",
"the",
"Current",
"Report",
"on",
"Form",
"8",
"-",
"K",
"we",
"previously",
"filed",
"today",
"for",
"material",
"information",
"about",
"the",
"purchase",
"consideration",
",",
"financing",
"terms",
"and",
"other",
"material",
"aspects",
"of",
"the",
"mia",
"transaction",
".",
"Such",
"Current",
"Report",
"can",
"be",
"accessed",
"through",
"the",
"SEC",
"'s",
"website",
"at",
"www.sec.gov",
".",
"About",
"Mandalay",
"Digital",
"Group",
"Mandalay",
"Digital",
"Group",
"is",
"at",
"the",
"convergence",
"of",
"internet",
"media",
"content",
"and",
"mobile",
"communications",
".",
"It",
"delivers",
"a",
"mobile",
"services",
"platform",
"that",
"works",
"with",
"mobile",
"operators",
"and",
"third",
"-",
"party",
"publishers",
"to",
"provide",
"portal",
"management",
",",
"user",
"interface",
",",
"content",
"development",
"and",
"billing",
"technology",
"that",
"enables",
"the",
"responsible",
"distribution",
"of",
"mobile",
"entertainment",
".",
"Mandalay",
"Digital",
"is",
"headquartered",
"in",
"Los",
"Angeles",
"and",
"has",
"offices",
"in",
"Europe",
",",
"Israel",
"and",
"Latin",
"America",
"to",
"support",
"global",
"sales",
"and",
"marketing",
".",
"For",
"additional",
"information",
",",
"visit",
"www.mandalaydigital.com",
".",
"About",
"mia",
"Founded",
"in",
"2003",
",",
"mia",
"enables",
"experiences",
"on",
"connected",
"devices",
"by",
"enabling",
"the",
"delivery",
"of",
"content",
"and",
"applications",
"to",
"multiple",
"devices",
",",
"across",
"any",
"network",
",",
"in",
"any",
"format",
".",
"mia",
"'s",
"Sphere",
"platform",
"enables",
"carriers",
",",
"media",
"companies",
"and",
"brands",
"to",
"work",
"together",
",",
"providing",
"the",
"best",
"user",
"experience",
"and",
"lowering",
"the",
"cost",
"of",
"delivery",
".",
"Today",
"mia",
"facilitates",
"more",
"than",
"800",
"live",
"services",
"including",
"being",
"the",
"second",
"largest",
"digital",
"music",
"retailer",
"in",
"Australia",
".",
"For",
"additional",
"information",
",",
"visit",
"http://www.mia.com.au/",
".",
"Forward",
"Looking",
"Statement",
"Statements",
"in",
"this",
"news",
"release",
"concerning",
"future",
"results",
"from",
"operations",
",",
"financial",
"position",
",",
"economic",
"conditions",
",",
"product",
"releases",
"and",
"any",
"other",
"statement",
"that",
"may",
"be",
"construed",
"as",
"a",
"prediction",
"of",
"future",
"performance",
"or",
"events",
"are",
"forward",
"-",
"looking",
"statements",
"which",
"involve",
"known",
"and",
"unknown",
"risks",
",",
"uncertainties",
"and",
"other",
"factors",
"which",
"may",
"cause",
"actual",
"results",
"to",
"differ",
"materially",
"from",
"those",
"expressed",
"or",
"implied",
"by",
"such",
"statements",
".",
"When",
"used",
"in",
"this",
"news",
"release",
",",
"the",
"words",
"\"",
"anticipate",
"\"",
",",
"\"",
"believe",
",",
"\"",
"\"",
"estimate",
"\"",
",",
"\"",
"expect",
"\"",
",",
"\"",
"will",
"\"",
",",
"\"",
"seeks",
"\"",
",",
"\"",
"should",
"\"",
",",
"\"",
"could",
"\"",
",",
"\"",
"would",
"\"",
",",
"\"",
"may",
"\"",
"and",
"similar",
"expressions",
",",
"are",
"intended",
"to",
"identify",
"such",
"forward",
"-",
"looking",
"statements",
".",
"Our",
"actual",
"results",
",",
"performance",
"or",
"achievements",
"could",
"differ",
"materially",
"from",
"those",
"expressed",
"in",
",",
"or",
"implied",
"by",
",",
"these",
"forward",
"-",
"looking",
"statements",
"as",
"a",
"result",
"of",
"a",
"variety",
"of",
"factors",
",",
"such",
"as",
";",
"changes",
"in",
"international",
"regulatory",
"and",
"compliance",
"requirements",
"that",
"could",
"restrict",
"our",
"ability",
"to",
"develop",
",",
"market",
"and",
"sell",
"our",
"products",
";",
"social",
",",
"political",
"or",
"economic",
"instability",
"or",
"recessions",
";",
"diminished",
"protection",
"of",
"intellectual",
"property",
"in",
"some",
"countries",
"outside",
"of",
"the",
"United",
"States",
";",
"difficulty",
"in",
"hiring",
",",
"staffing",
"and",
"managing",
"qualified",
"and",
"proficient",
"local",
"employees",
"and",
"advisors",
"to",
"run",
"international",
"operations",
";",
"the",
"difficulty",
"of",
"managing",
"and",
"operating",
"an",
"international",
"enterprise",
",",
"including",
"difficulties",
"in",
"maintaining",
"effective",
"communications",
"with",
"employees",
"and",
"customers",
"due",
"to",
"distance",
",",
"language",
"and",
"cultural",
"barriers",
";",
"differing",
"labor",
"regulations",
"and",
"business",
"practices",
";",
"higher",
"operating",
"costs",
"due",
"to",
"local",
"laws",
"or",
"regulations",
";",
"fluctuations",
"in",
"foreign",
"economies",
"and",
"currency",
"exchange",
"rates",
";",
"difficulty",
"in",
"enforcing",
"agreements",
";",
"the",
"potential",
"impairment",
"of",
"tangible",
"assets",
",",
"intangible",
"assets",
"and",
"goodwill",
"acquired",
"in",
"acquisitions",
";",
"and",
"potentially",
"negative",
"consequences",
"from",
"changes",
"in",
"or",
"interpretations",
"of",
"tax",
"laws",
",",
"post",
"-",
"acquisition",
".",
"Other",
"factors",
"include",
"uncertainties",
"as",
"to",
"ability",
"to",
"raise",
"new",
"capital",
"on",
"acceptable",
"terms",
"or",
"at",
"all",
",",
"ability",
"to",
"identify",
"and",
"consummate",
"roll",
"-",
"up",
"acquisitions",
"targets",
",",
"levels",
"of",
"orders",
",",
"ability",
"to",
"record",
"revenues",
",",
"release",
"schedules",
",",
"finalization",
"and",
"market",
"acceptance",
"of",
"new",
"products",
",",
"changes",
"in",
"economic",
"conditions",
"and",
"market",
"demand",
",",
"pricing",
"and",
"other",
"activities",
"by",
"competitors",
",",
"and",
"other",
"risks",
"including",
"those",
"described",
"from",
"time",
"to",
"time",
"in",
"Mandalay",
"Digital",
"Group",
"'s",
"filings",
"on",
"Forms",
"10",
"-",
"K",
"and",
"10",
"-",
"Q",
"with",
"the",
"Securities",
"and",
"Exchange",
"Commission",
"(",
"SEC",
")",
",",
"press",
"releases",
"and",
"other",
"communications",
".",
"Any",
"of",
"these",
"factors",
"may",
",",
"individually",
"or",
"as",
"a",
"group",
",",
"have",
"a",
"material",
"adverse",
"effect",
"on",
"our",
"business",
"and",
"results",
"of",
"operations",
".",
"We",
"do",
"not",
"undertake",
"any",
"obligation",
"to",
"update",
"any",
"forward",
"-",
"looking",
"statements",
".",
"Accordingly",
",",
"investors",
"should",
"use",
"caution",
"in",
"relying",
"on",
"past",
"forward",
"-",
"looking",
"statements",
",",
"which",
"are",
"based",
"on",
"known",
"results",
"and",
"trends",
"at",
"the",
"time",
"they",
"are",
"made",
",",
"to",
"anticipate",
"future",
"results",
"or",
"trends",
"."
] | [
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
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"O",
"O",
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"B-Parties.BUYING_COMPANY",
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"O",
"O",
"O",
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"O",
"O",
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"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
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"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
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"B-Parties.ACQUIRED_COMPANY",
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"O",
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"O",
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"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
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"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
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"O",
"O",
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"O",
"O",
"O",
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"O",
"O",
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"O",
"O",
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"O",
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"O",
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"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
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"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
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"O",
"O",
"O",
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"O",
"O",
"O",
"O",
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"O",
"O",
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"O",
"O",
"O",
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"O",
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"O",
"O",
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"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
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"O",
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"O",
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"O",
"O",
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1370880-000137088021000042-a8-kfor10x8x2021xex991 | EX-99.1
4
a8-kfor10x8x2021xex991.htm
EXHIBIT 99.1
Document
Exhibit 99.1
Mandiant Completes the Divestiture of its FireEye Products Business to McAfee Enterprise
Mandiant and combined McAfee Enterprise and FireEye Products company to support customers post-close with a joint reseller relationship, shared product telemetry and frontline threat intelligence
MILPITAS, Calif., Oct. 8, 2021 - Mandiant, Inc. (NASDAQ: MNDT), the leader in dynamic cyber defense and response, today announced the completion of the previously announced transaction to sell the FireEye Products business to McAfee Enterprise, which is backed by a consortium led by Symphony Technology Group (STG), in an all-cash transaction for $1.2 billion, before taxes and transaction-related expenses. Mandiant and the combined McAfee Enterprise and FireEye Products company will continue to support customers post-closing with a joint reseller relationship, shared product telemetry and frontline threat intelligence.
"The FireEye Products team and I are incredibly proud of our work while at FireEye and Mandiant and the positive outcomes we have delivered for customers across the globe", said Bryan Palma, who has been named CEO of the combined company for McAfee Enterprise and FireEye Products. "We are excited to join forces with our new colleagues at McAfee Enterprise and collaborate with Mandiant to continue delivering effective security to customers".
"With the divestiture of the FireEye Products business now closed, I look forward to accelerating our vision and building on Mandiant's unique strengths to deliver a range of dynamic cyber defense solutions to customers, and our partnership with the combined McAfee Enterprise and FireEye Products company", said Kevin Mandia, CEO at Mandiant.
Goldman Sachs & Co. LLC served as financial advisor, and Wilson Sonsini Goodrich & Rosati P.C. acted as legal advisor, to Mandiant.
UBS Investment Bank and Jefferies LLC acted as financial advisors, and Paul Hastings LLP acted as legal advisor, to STG. UBS Investment Bank and Jefferies Finance LLC provided financing for the transaction.
About Mandiant, Inc.
Since 2004, Mandiant® has been a trusted partner to security-conscious organizations. Effective security is based on the right combination of expertise, intelligence, and adaptive technology, and the Mandiant Advantage SaaS platform scales decades of frontline experience and industry-leading threat intelligence to deliver a range of dynamic cyber defense solutions. Mandiant's approach helps organizations develop more effective and efficient cyber security programs and instills confidence in their readiness to defend against and respond to cyber threats.
© 2021 Mandiant, Inc. All rights reserved. Mandiant is a registered trademark of Mandiant, Inc. in the United States and other countries. All other brands, products, or service names are or may be trademarks or service marks of their respective owners.
Contacts:
Media
[email protected]
Investors
[email protected]
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944809-000095012309048986-g20711exv99w1 | EX-99.1
2
g20711exv99w1.htm
EX-99.1
exv99w1
Exhibit 99.1
OPKO Health Acquires Chilean Pharmaceutical Company
MIAMI, October 2, 2009 - OPKO Health, Inc. (NYSE Amex: OPK) today announced that it has entered
into a definitive agreement to acquire Pharma Genexx S.A., a privately-held Chilean pharmaceutical
company engaged in the representation, importation, commercialization and distribution of
pharmaceutical products, OTC products and medical devices for the government, private and
institutional markets. The closing of the transaction, subject to customary closing conditions, is
expected to occur in the next several days.
OPKO will acquire Pharma Genexx S.A. for US $16 million in an all cash transaction from FASA, the
largest drugstore chain in Latin America, and Laboratorios Volta S.A., a Chilean pharmaceutical
company. Pharma Genexx started operations in 2006 and has since enjoyed continued growth in sales
and profits. Pharma Genexx had sales of approximately US $11 million in 2008 and approximately US
$7.6 million for the first six months of 2009.
Phillip Frost, OPKO's Chairman and Chief Executive Officer, commented, "We believe this acquisition
to be an excellent strategic fit for OPKO as we broadly expand into international markets. We plan
to extend the range of therapeutic areas covered by our products while maintaining a position in
ophthalmology".
About OPKO Health, Inc.
Miami-based OPKO is a specialty healthcare company involved in the discovery, development, and
commercialization of proprietary pharmaceutical products, medical devices, vaccines, diagnostic
technologies and imaging systems. Initially focused on the treatment and management of
ophthalmologic diseases, OPKO has since expanded into other areas of major unmet medical need such
as oncology, infectious diseases and neurological disorders.
This press release contains "forward-looking statements", as that term is defined under the Private
Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such
as "expects", "plans", "projects", "will", "may", "anticipates", "believes", "should", "intends,"
"estimates", and other words of similar meaning, including statements regarding continued growth in
sales and profit, our efforts to expand internationally and extend the range of therapeutic areas
covered by our products, statements regarding our product development efforts, as well as other
non-historical statements about our expectations, beliefs or intentions regarding our business,
technologies and products, financial condition, strategies or prospects. Many factors could cause
our actual activities or results to differ materially from the activities and results anticipated
in forward-looking statements, including that the acquisition of Pharma Genexx may be delayed or
may not be consummated at all, and that Pharma Genexx's profitability and growth may not continue.
These factors include those described in our filings with the Securities and Exchange Commission,
as well as risks inherent in funding, developing and obtaining regulatory approvals of new,
commercially-viable and competitive products and treatments. In addition, forward-looking
statements may also be adversely affected by general market factors, competitive product
development, product availability, federal and state regulations and legislation, the regulatory
process for new products and indications, manufacturing issues that may arise, patent positions and
litigation, among other factors. The forward-looking statements contained in this press release
speak only as of the date the statements were made, and we do not undertake any obligation to
update forward-looking statements. We intend that all forward-looking statements be subject to the
safe-harbor provisions of the PSLRA.
Contacts:
Steven D. Rubin 305-575-6015
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894158-000113207209000286-s22-9272_ex991 | EX-99.1
6
s22-9272_ex991.htm
PRESS RELEASE, ACQUISITION OF HART LAB LLC
s22-9272_ex991.htm
Exhibit 99.1
Adeona Completes HartLab Acquisition
ANN ARBOR, MI--(MARKET WIRE)-July 13, 2009 -- Adeona Pharmaceuticals, Inc. (AMEX:
AEN
-
News
), a specialty pharmaceutical company dedicated to the awareness, diagnosis, prevention and treatment of subclinical
zinc deficiency and chronic copper toxicity in the mature population, today announced that it has completed its acquisition of HartLab LLC, an independent Chicago-area CLIA-certified clinical laboratory ("HartLab"). Adeona originally announced its agreement to acquire HartLab on June 1, 2009.
Founded in 2006 and located in Bolingbrook, Illinois, HartLab can serve the same-day clinical laboratory needs of physicians that care for the approximately 9 million residents of the greater Chicago area and can currently provide next-day clinical laboratory services to physicians in most states.
HartLab is a licensed Medicare and Medicaid provider, and accepts insurance from most third party reimbursers as well as private payers.
Adeona intends HartLab to remain independent and to support HartLab in expanding its offering of services to include a suite of high precision and proprietary assays and diagnostic panels useful in the diagnosis, monitoring, prevention and treatment of conditions that involve copper toxicity and other types of metal dyshomeostasis. Adeona
believes that, if operated as planned, HartLab may satisfy an unmet physician need for a clinical laboratory dedicated and competent in such areas.
Max Lyon, CEO of Adeona, stated, " We look forward to HartLab entering the greater Chicago area market, and eventually the national market, with a clinical diagnostic service that can help physicians and patients cope with the challenges of diseases of aging such as Alzheimer's disease and mild cognitive impairment".
During 2007 and 2008, Adeona sponsored and conducted an IRB-approved, prospective, observational, blinded clinical trial enrolling 90 subjects, 30 with Alzheimer's disease (AD), 30 with Parkinson's disease (PD) and 30 age-matched normal subjects. The purpose of the study was to evaluate serum markers of copper status and compare these results
across the three groups of patients. The results of our study indicate highly statistically significant differences in serum markers of copper status between Alzheimer's and normal subjects. We believe that the differences observed suggest that Alzheimer's patients have impaired protection from chronic copper toxicity, which may contribute to the progression of their disease. The results from this study also appear to indicate a subclinical zinc deficiency in Alzheimer's subjects. Results from the
study also indicate that it may be useful to screen the existing Parkinson's disease population for signs of Wilson's disease, an effort that Adeona hopes to promote and accomplish through HartLab. Adeona and its HealthMine subsidiary intend to announce the results from this study in the first half of this month and launch a panel of metal dyshomeostasis diagnostic products and services thereafter.
The Acquisition
Adeona paid approximately $201,000 in cash and issued 50,000 unregistered shares of Adeona common stock in exchange for all of the issued and outstanding membership interests of HartLab. $14,000 of the cash purchase price was paid initially at signing in May and the remainder of approximately $187,000 was paid at closing.. In
addition, Adeona agreed to guarantee and seek to release the seller from the seller's personal guarantee of the remaining balance of two outstanding clinical equipment leases of HartLab totaling approximately $79,000. Adeona has placed $79.000 in escrow which will be returned to Adeona within 60 days provided the seller is released from his personal guarantee, or in the alternative, after 60 days will be paid to the lessors to pay off such equipment leases. Adeona intends to maintain the operations
and employees of HartLab and has entered into a consulting agreement with the former owner/founder of HartLab to assist in the transition and operation of the company for a period of up to 12 months.
Founded in 2006, the current revenues of HartLab exceed $100,000 per year and its financial statements are currently unaudited. Adeona has engaged an independent auditor to audit HartLab and in accordance with S.E.C. requirements intends to file detailed audited financial statements of HartLab and further financial information
pursuant to a Form 8-K within 75 days. HartLab revenues and expenses will be included in the Adeona's consolidated financial statements for the current third calendar quarter.
About Adeona Pharmaceuticals, Inc.
Adeona Pharmaceuticals, Inc. (AMEX:
AEN
-
News
) is a specialty pharmaceutical company dedicated to the awareness, diagnosis, prevention and treatment of subclinical zinc deficiency and chronic copper toxicity
in the mature population. Adeona believes that such conditions may contribute to the progression of debilitating degenerative diseases, including, Dry Age-Related Macular Degeneration (Dry AMD), Alzheimer's disease (AD) and mild cognitive impairment (MCI) in susceptible persons. Adeona is also developing a number of late-stage clinical drug candidates for the treatment of rheumatoid arthritis and multiple sclerosis. For further information, please visit
www.adeonapharma.com
.
About HealthMine, Inc.
HealthMine, Inc., a subsidiary of Adeona Pharmaceuticals Inc., is a health education communication and information resource company dedicated to raising awareness of subclinical zinc deficiency and the risks of chronic copper toxicity in the mature population. HeathMine currently hosts two Web 2.0 websites,
www.healthmine.com
and
the recently launched
www.copperproof.com
, a new informational website dedicated to increasing awareness of the potential health effects of chronic copper toxicity, especially in the mature population. By visiting
www.copperproof.com
, users can view a brief informational video, review relevant literature, obtain a sensitive test card to test their tap water for copper and, should they
wish to participate in HealthMine's CopperProof National Tap Water Survey, share their levels of copper in tap water and geographically compare such levels to those of others. Since 2003, an increasing body of research continues to implicate chronic copper exposure as a potential factor that may contribute to the progression of diseases of the mature population, especially Alzheimer's disease.
This release includes forward-looking statements on Adeona's current expectations and projections about future events. In some cases forward-looking statements can be identified by terminology such as "may", "should", "potential", "continue", "expects", "anticipates", "intends", "plans", "believes", "estimates", and similar expressions.
These statements are based upon current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict and include statements regarding designing additional clinical trials for oral dnaJP1, Zinthionein, flupirtine, or Trimesta. Adeona is at an early stage of development and may not ever have any products that generate significant revenue. Important factors that could cause actual results to differ materially from those reflected in Adeona's
forward-looking statements include, among others, a failure of Adeona's product candidates to be demonstrably safe and effective, a failure to obtain regulatory approval for the company's products or to comply with ongoing regulatory requirements, regulatory limitations relating to the company's ability to promote or commercialize its products for awareness, prevention, diagnosis or treatment of subclinical zinc deficiency and chronic copper toxicity, a lack of acceptance of Adeona's product candidates in the
marketplace, a failure of the company to become or remain profitable, that we will continue to meet the continued listing requirements of the American Stock Exchange (which, unlike other exchanges, does not require us to maintain any minimum bid price with respect our stock but does require us to maintain a minimum of $4 million in stockholders' equity during the current year, for example), our inability to obtain the capital necessary to fund the company's research and development activities, a loss of any of
the company's key scientists or management personnel, and other factors described in Adeona's report on Form 10-K for the year ended December 31, 2008, Form 10-Q for the quarter ending March 31, 2009 and any other filings with the SEC. No forward-looking statements can be guaranteed and actual results may differ materially from such statements. The information in this release is provided only as of the date of this release, and Adeona undertakes no obligation to update any forward-looking statements contained
in this release on account of new information, future events, or otherwise, except as required by law. Readers are urged to read to the Form 8-K and exhibits thereto associated with this press release.
For Further Information Contact:
Max Lyon
CEO and President
Adeona Pharmaceuticals, Inc.
(734)332-7800
| [
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",",
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".",
"Adeona",
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"multiple",
"sclerosis",
".",
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"further",
"information",
",",
"please",
"visit",
"www.adeonapharma.com",
".",
"About",
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"of",
"chronic",
"copper",
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"HeathMine",
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",",
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"the",
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".",
"By",
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"www.copperproof.com",
",",
"users",
"can",
"view",
"a",
"brief",
"informational",
"video",
",",
"review",
"relevant",
"literature",
",",
"obtain",
"a",
"sensitive",
"test",
"card",
"to",
"test",
"their",
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"water",
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"and",
",",
"should",
"they",
"wish",
"to",
"participate",
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"CopperProof",
"National",
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"Survey",
",",
"share",
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"tap",
"water",
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"compare",
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"levels",
"to",
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"of",
"others",
".",
"Since",
"2003",
",",
"an",
"increasing",
"body",
"of",
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"continues",
"to",
"implicate",
"chronic",
"copper",
"exposure",
"as",
"a",
"potential",
"factor",
"that",
"may",
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",",
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"'",
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"This",
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"-",
"looking",
"statements",
"on",
"Adeona",
"'s",
"current",
"expectations",
"and",
"projections",
"about",
"future",
"events",
".",
"In",
"some",
"cases",
"forward",
"-",
"looking",
"statements",
"can",
"be",
"identified",
"by",
"terminology",
"such",
"as",
"\"",
"may",
"\"",
",",
"\"",
"should",
"\"",
",",
"\"",
"potential",
"\"",
",",
"\"",
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"\"",
",",
"\"",
"expects",
"\"",
",",
"\"",
"anticipates",
"\"",
",",
"\"",
"intends",
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",",
"\"",
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"\"",
",",
"\"",
"believes",
"\"",
",",
"\"",
"estimates",
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",",
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"These",
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",",
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",",
"many",
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"dnaJP1",
",",
"Zinthionein",
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",",
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"Adeona",
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"ever",
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"generate",
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"revenue",
".",
"Important",
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"actual",
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"-",
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",",
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",",
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"(",
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"unlike",
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",",
"does",
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",",
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")",
",",
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",",
"a",
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",",
"and",
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"on",
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"10",
"-",
"K",
"for",
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"December",
"31",
",",
"2008",
",",
"Form",
"10",
"-",
"Q",
"for",
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"31",
",",
"2009",
"and",
"any",
"other",
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"SEC",
".",
"No",
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"-",
"looking",
"statements",
"can",
"be",
"guaranteed",
"and",
"actual",
"results",
"may",
"differ",
"materially",
"from",
"such",
"statements",
".",
"The",
"information",
"in",
"this",
"release",
"is",
"provided",
"only",
"as",
"of",
"the",
"date",
"of",
"this",
"release",
",",
"and",
"Adeona",
"undertakes",
"no",
"obligation",
"to",
"update",
"any",
"forward",
"-",
"looking",
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",",
"future",
"events",
",",
"or",
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",",
"except",
"as",
"required",
"by",
"law",
".",
"Readers",
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"urged",
"to",
"read",
"to",
"the",
"Form",
"8",
"-",
"K",
"and",
"exhibits",
"thereto",
"associated",
"with",
"this",
"press",
"release",
".",
"For",
"Further",
"Information",
"Contact",
":",
"Max",
"Lyon",
"CEO",
"and",
"President",
"Adeona",
"Pharmaceuticals",
",",
"Inc",
".",
"(",
"734",
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"332",
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] |
354869-000095012310049964-l39788exv99w1 | EX-99.1
4
l39788exv99w1.htm
EX-99.1
exv99w1
Exhibit 99.1
FOR IMMEDIATE RELEASE
FirstMerit Corporation
Analysts: Thomas O'Malley/Investor Relations Officer
Phone: 330.384.7109
Media Contact: Robert Townsend/Media Relations Officer
Phone: 330.384.7075
FirstMerit Acquires Midwest Bank and Trust Company
Acquisition Nearly Doubles FirstMerit's Chicago Presence
Akron, Ohio (May 14, 2010) - FirstMerit Corporation (Nasdaq: FMER) announced today it has acquired,
through its subsidiary FirstMerit Bank, N.A., the banking operations of Chicago-based Midwest Bank
and Trust Company, the subsidiary bank of Midwest Banc Holdings, Inc. through a purchase and
assumption agreement with the Federal Deposit and Insurance Corporation (FDIC). Midwest Bank and
Trust has 26 branches located throughout the Chicago area.
As of March 31, 2010, Midwest Bank and Trust had approximately $2.4 billion in deposits and $3.2
billion in assets. Midwest Bank and Trust's $2.2 billion in loans will be subject to a loss-sharing
agreement with the FDIC. FirstMerit expects the acquisition to be accretive to operating earnings
per share in 2010.
For customers of Midwest Bank and Trust, the transition to FirstMerit will be seamless. On Saturday
morning, May 15, 2010, or the first normally scheduled business day depending on the location, all
26 Midwest Bank and Trust branches will reopen as FirstMerit locations. Existing Midwest Bank and
Trust checks, debit cards and ATM cards will continue to work, allowing customers to access their
money without disruption. Checks drawn on the bank will continue to be processed. Loan customers
should make their payments as usual.
To help customers with the transition, FirstMerit representatives will be on-site at all former
Midwest Bank and Trust locations to address customer needs and begin integrating operations. For
additional information, customers can also visit
http://www.firstmerit.com
or call the FirstMerit
customer service line at 1-888-554-4362.
-more-
FirstMerit Acquires Midwest Bank and Trust Company / Page 2
"We wish to extend a warm welcome to the customers of Midwest Bank and Trust to FirstMerit and want
to assure them that their deposits are safe, secure and readily
accessible. We are one of the healthiest and most financially stable banks in the Midwest", said
Paul G. Greig, president, chairman and CEO of FirstMerit. "It will be business as usual at all 26
of the former Midwest Bank and Trust branches as they become a part of FirstMerit. Clients will
recognize the familiar faces from Midwest Bank and Trust who will continue to take care of their
banking needs".
The transaction builds on market momentum from FirstMerit's recent First Bank and George Washington
acquisitions, nearly doubling its existing Chicago branch network from 28 to 54.
"We're pleased to expand our presence in the Chicago market and extend our long-term vision for
growth in this area", said Greig. "The addition of Midwest Bank and Trust to our existing Chicago
footprint creates an even stronger platform from which to serve the Chicago market and positions us
to continue gaining market share in Chicagoland's commercial banking space".
Forward-Looking Statement
This release contains forward-looking statements relating to present or future trends or factors
affecting the banking industry, and specifically the financial condition and results of operations,
including without limitation, statements relating to the earnings outlook of the Company, as well
as its operations, markets and products. Actual results could differ materially from those
indicated. Among the important factors that could cause results to differ materially are interest
rate changes, continued softening in the economy, which could materially impact credit quality
trends and the ability to generate loans, changes in the mix of the Company's business, competitive
pressures, changes in accounting, tax or regulatory practices or requirements and those risk
factors detailed in the Company's periodic reports and registration statements filed with the
Securities and Exchange Commission. The Company undertakes no obligation to release revisions to
these forward-looking statements or reflect events or circumstances after the date of this release.
About FirstMerit
FirstMerit Corporation is a diversified financial services company headquartered in Akron, Ohio,
with assets of $12.3 billion as of March 31, 2010 and 183 banking offices and 204 ATMs in Ohio,
Western Pennsylvania and the Chicago area. FirstMerit Corporation provides a complete range of
banking and other financial services to consumers and businesses through its core operations.
Principal wholly-owned subsidiaries include: FirstMerit Bank, N.A., FirstMerit Mortgage
Corporation, FirstMerit Title Agency, Ltd., and FirstMerit Community Development Corporation.
###
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1167419-000107997319000625-ex99x1 | EX-99.1
3
ex99x1.htm
EXHIBIT 99.1
Exhibit 99.1
Riot
Blockchain announces purchase of 3,000 next generation Bitmain S17 Pro Antminers, upgrading its Oklahoma City Mining Facility
Decision
reinforces Company's commitment to Bitcoin and its supporting sectors
CASTLE
ROCK, CO. / PRNewswire / December 4, 2019 / Riot Blockchain, Inc. (NASDAQ: RIOT) ("Riot" or the "Company"),
one of the few Nasdaq listed public cryptocurrency mining companies in the United States, announced the purchase of 3,000 next
generation Bitmain S17 Pro Antminers for approximately USD $5 million from BitmainTech PTE. LTD. ("Bitmain"). This
upgrade was funded from Riot's available cash on hand.
The
latest generation of Bitcoin ("BTC") Application-Specific Integrated Circuit ("ASIC") miners from Bitmain
are markedly more cost efficient, estimated from product specifications at approximately a 50% improvement in hardware power efficiency,
compared to the S9 miners currently in use by Riot. As previously reported Riot's gross margin percent, computed as mining
revenues in excess of cost of revenues (exclusive of depreciation and amortization), was 14% in the three-month period ended September
30, 2019. The new generation miners are anticipated to generate approximately 440% of the S9's hashrate while only consuming
an estimated 220% of an S9's electricity usage. This will allow Riot to significantly increase its operating hashrate at
the Oklahoma City mining facility with fewer total miners using the same or less total electricity.
Riot
estimates aggregate operating hashrate at the Oklahoma City mining facility, assuming full utilization of the facility's
current total 12 megawatt ("MW") available electric supply and deployment of the 3,000 next generation miners supplemented
with the balance of S9s continuing to run using remaining available power, would be approximately 225 petahash per second ("PH/s").
This would represent an estimated 200%+ increase over Riot's present average mining hashrate. Riot anticipates that the
3,000 new miners, will represent approximately 70% of the total current mine capacity, and are expected to be fully deployed early
first quarter 2020. Pending future actual power costs and Bitcoin network economic conditions, it is expected that a portion of
the existing S9 miners will continue to be operational in order to maximize capacity until, and if, additional next generation
miners may be acquired to replace them.
Riot's
107,600 square foot Oklahoma City mining facility has been in operation since early 2018. Riot has mined over 1,820 newly minted
Bitcoin through the quarter ended September 30, 2019, in addition to lesser quantities of Litecoin and Bitcoin Cash. With this
acquisition, Riot has reinforced its confidence and focus in Bitcoin.
Riot's
Oklahoma City mining facility's current electric costs are variable based upon peak demand. Riot is notified of hourly demand
billing rates in advance and in order to be strategic with its operational costs, Riot curtails mining activities to reduce electric
consumption if there are periods when incremental electricity charges would exceed estimated revenue production. For the billing
month of October 2019, direct electricity costs incurred averaged $0.0275 kWh with an approximate range of $0.01 to $0.07.
The
Board of Directors and Management of Riot are very pleased to be in a position from a financial point of view to take advantage
of this exciting new technology at a time when the manufacturer has recently significantly reduced the cost of the miners. While
cryptocurrency mining continues to have challenges, including price volatility of Bitcoin, the opportunity to acquire significant
additional net hashrate capacity on a very cost-effective basis was determined to be compelling. The decision was further enhanced
given Riot's recent funding from its 2019 ATM Offering of common shares with no warrants or other rights and at prices appreciably
higher than the current market. As previously reported, the Company's cash and digital asset balance as of September 30,
2019 totaled $18.3 million, with no long or short-term secured debt.
About
Riot Blockchain
Riot
Blockchain is focused on building, operating, and supporting blockchain technologies. Its primary operations consist of cryptocurrency
mining, targeted development of a cryptocurrency exchange, and the identification and support of innovations within the sector.
For more information, visit http://www.RiotBlockchain.com/.
Investor
Notice
Investing
in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks,
uncertainties and forward-looking statements described under "Risk Factors" in Item 1A of our most recent Form 10-K
for the fiscal year ended December 31, 2018 filed with the Securities and Exchange Commission (the "SEC") on April 2,
2019, as amended by Amendment No. 1 on Form 10-K/A on April 23, 2019, as well as those risk factors disclosed in any periodic
reports we file with the SEC. If any of these risks were to occur, our business, financial condition or results of operations
would likely suffer. In that event, the value of our securities could decline, and you could lose part or all of your investment.
The risks and uncertainties we describe are not the only ones facing us.
Additional
risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our
past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to
anticipate results in the future. See "Safe Harbor" below.
Safe
Harbor
The
information provided in this press release may include forward-looking statements relating to future events or the future financial
performance of the Company. Because such statements are subject to risks and uncertainties, actual results may differ materially
from those expressed or implied by such forward-looking statements. Words such as "anticipates", "plans,"
"expects", "intends", "will", "potential", "hope" and similar expressions are
intended to identify forward-looking statements. These forward-looking statements are based upon current expectations of the Company
and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could
differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. Detailed
information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements
in this press release relating to the Company may be found in the Company's periodic filings with the Securities and Exchange
Commission, including the factors described in the sections entitled "Risk Factors", copies of which may be obtained
from the SEC's website at www.sec.gov. The Company does not undertake any obligation to update forward-looking statements contained
in this press release.
CONTACT:
Media
Contact:
[email protected]
Investor
Contact:
[email protected]
SOURCE:
Riot Blockchain, Inc.
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"(",
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"depreciation",
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")",
",",
"was",
"14",
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"the",
"three",
"-",
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"30",
",",
"2019",
".",
"The",
"new",
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"miners",
"are",
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"to",
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"approximately",
"440",
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"of",
"the",
"S9",
"'s",
"hashrate",
"while",
"only",
"consuming",
"an",
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"220",
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"an",
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"'s",
"electricity",
"usage",
".",
"This",
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"allow",
"Riot",
"to",
"significantly",
"increase",
"its",
"operating",
"hashrate",
"at",
"the",
"Oklahoma",
"City",
"mining",
"facility",
"with",
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"total",
"miners",
"using",
"the",
"same",
"or",
"less",
"total",
"electricity",
".",
"Riot",
"estimates",
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"operating",
"hashrate",
"at",
"the",
"Oklahoma",
"City",
"mining",
"facility",
",",
"assuming",
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"'s",
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"12",
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"(",
"\"",
"MW",
"\"",
")",
"available",
"electric",
"supply",
"and",
"deployment",
"of",
"the",
"3,000",
"next",
"generation",
"miners",
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"continuing",
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",",
"would",
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"225",
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"(",
"\"",
"PH",
"/",
"s",
"\"",
")",
".",
"This",
"would",
"represent",
"an",
"estimated",
"200",
"%",
"+",
"increase",
"over",
"Riot",
"'s",
"present",
"average",
"mining",
"hashrate",
".",
"Riot",
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"the",
"3,000",
"new",
"miners",
",",
"will",
"represent",
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"mine",
"capacity",
",",
"and",
"are",
"expected",
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"fully",
"deployed",
"early",
"first",
"quarter",
"2020",
".",
"Pending",
"future",
"actual",
"power",
"costs",
"and",
"Bitcoin",
"network",
"economic",
"conditions",
",",
"it",
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"portion",
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"existing",
"S9",
"miners",
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"operational",
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"maximize",
"capacity",
"until",
",",
"and",
"if",
",",
"additional",
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"replace",
"them",
".",
"Riot",
"'s",
"107,600",
"square foot",
"Oklahoma",
"City",
"mining",
"facility",
"has",
"been",
"in",
"operation",
"since",
"early",
"2018",
".",
"Riot",
"has",
"mined",
"over",
"1,820",
"newly",
"minted",
"Bitcoin",
"through",
"the",
"quarter",
"ended",
"September",
"30",
",",
"2019",
",",
"in",
"addition",
"to",
"lesser",
"quantities",
"of",
"Litecoin",
"and",
"Bitcoin",
"Cash",
".",
"With",
"this",
"acquisition",
",",
"Riot",
"has",
"reinforced",
"its",
"confidence",
"and",
"focus",
"in",
"Bitcoin",
".",
"Riot",
"'s",
"Oklahoma",
"City",
"mining",
"facility",
"'s",
"current",
"electric",
"costs",
"are",
"variable",
"based",
"upon",
"peak",
"demand",
".",
"Riot",
"is",
"notified",
"of",
"hourly",
"demand",
"billing",
"rates",
"in",
"advance",
"and",
"in",
"order",
"to",
"be",
"strategic",
"with",
"its",
"operational",
"costs",
",",
"Riot",
"curtails",
"mining",
"activities",
"to",
"reduce",
"electric",
"consumption",
"if",
"there",
"are",
"periods",
"when",
"incremental",
"electricity",
"charges",
"would",
"exceed",
"estimated",
"revenue",
"production",
".",
"For",
"the",
"billing",
"month",
"of",
"October",
"2019",
",",
"direct",
"electricity",
"costs",
"incurred",
"averaged",
"$",
"0.0275",
"kWh",
"with",
"an",
"approximate",
"range",
"of",
"$",
"0.01",
"to",
"$",
"0.07",
".",
"The",
"Board",
"of",
"Directors",
"and",
"Management",
"of",
"Riot",
"are",
"very",
"pleased",
"to",
"be",
"in",
"a",
"position",
"from",
"a",
"financial",
"point",
"of",
"view",
"to",
"take",
"advantage",
"of",
"this",
"exciting",
"new",
"technology",
"at",
"a",
"time",
"when",
"the",
"manufacturer",
"has",
"recently",
"significantly",
"reduced",
"the",
"cost",
"of",
"the",
"miners",
".",
"While",
"cryptocurrency",
"mining",
"continues",
"to",
"have",
"challenges",
",",
"including",
"price",
"volatility",
"of",
"Bitcoin",
",",
"the",
"opportunity",
"to",
"acquire",
"significant",
"additional",
"net",
"hashrate",
"capacity",
"on",
"a",
"very",
"cost",
"-",
"effective",
"basis",
"was",
"determined",
"to",
"be",
"compelling",
".",
"The",
"decision",
"was",
"further",
"enhanced",
"given",
"Riot",
"'s",
"recent",
"funding",
"from",
"its",
"2019",
"ATM",
"Offering",
"of",
"common",
"shares",
"with",
"no",
"warrants",
"or",
"other",
"rights",
"and",
"at",
"prices",
"appreciably",
"higher",
"than",
"the",
"current",
"market",
".",
"As",
"previously",
"reported",
",",
"the",
"Company",
"'",
"s",
"cash",
"and",
"digital",
"asset",
"balance",
"as",
"of",
"September",
"30",
",",
"2019",
"totaled",
"$",
"18.3 million",
",",
"with",
"no",
"long",
"or",
"short",
"-",
"term",
"secured",
"debt",
".",
"About",
"Riot",
"Blockchain",
"Riot",
"Blockchain",
"is",
"focused",
"on",
"building",
",",
"operating",
",",
"and",
"supporting",
"blockchain",
"technologies",
".",
"Its",
"primary",
"operations",
"consist",
"of",
"cryptocurrency",
"mining",
",",
"targeted",
"development",
"of",
"a",
"cryptocurrency",
"exchange",
",",
"and",
"the",
"identification",
"and",
"support",
"of",
"innovations",
"within",
"the",
"sector",
".",
"For",
"more",
"information",
",",
"visit",
"http://www.RiotBlockchain.com/",
".",
"Investor",
"Notice",
"Investing",
"in",
"our",
"securities",
"involves",
"a",
"high",
"degree",
"of",
"risk",
".",
"Before",
"making",
"an",
"investment",
"decision",
",",
"you",
"should",
"carefully",
"consider",
"the",
"risks",
",",
"uncertainties",
"and",
"forward",
"-",
"looking",
"statements",
"described",
"under",
"\"",
"Risk",
"Factors",
"\"",
"in",
"Item",
"1A",
"of",
"our",
"most",
"recent",
"Form",
"10",
"-",
"K",
"for",
"the",
"fiscal",
"year",
"ended",
"December",
"31",
",",
"2018",
"filed",
"with",
"the",
"Securities",
"and",
"Exchange",
"Commission",
"(",
"the",
"\"",
"SEC",
"\"",
")",
"on",
"April",
"2",
",",
"2019",
",",
"as",
"amended",
"by",
"Amendment",
"No",
".",
"1",
"on",
"Form",
"10",
"-",
"K",
"/",
"A",
"on",
"April",
"23",
",",
"2019",
",",
"as",
"well",
"as",
"those",
"risk",
"factors",
"disclosed",
"in",
"any",
"periodic",
"reports",
"we",
"file",
"with",
"the",
"SEC",
".",
"If",
"any",
"of",
"these",
"risks",
"were",
"to",
"occur",
",",
"our",
"business",
",",
"financial",
"condition",
"or",
"results",
"of",
"operations",
"would",
"likely",
"suffer",
".",
"In",
"that",
"event",
",",
"the",
"value",
"of",
"our",
"securities",
"could",
"decline",
",",
"and",
"you",
"could",
"lose",
"part",
"or",
"all",
"of",
"your",
"investment",
".",
"The",
"risks",
"and",
"uncertainties",
"we",
"describe",
"are",
"not",
"the",
"only",
"ones",
"facing",
"us",
".",
"Additional",
"risks",
"not",
"presently",
"known",
"to",
"us",
"or",
"that",
"we",
"currently",
"deem",
"immaterial",
"may",
"also",
"impair",
"our",
"business",
"operations",
".",
"In",
"addition",
",",
"our",
"past",
"financial",
"performance",
"may",
"not",
"be",
"a",
"reliable",
"indicator",
"of",
"future",
"performance",
",",
"and",
"historical",
"trends",
"should",
"not",
"be",
"used",
"to",
"anticipate",
"results",
"in",
"the",
"future",
".",
"See",
"\"",
"Safe",
"Harbor",
"\"",
"below",
".",
"Safe",
"Harbor",
"The",
"information",
"provided",
"in",
"this",
"press",
"release",
"may",
"include",
"forward",
"-",
"looking",
"statements",
"relating",
"to",
"future",
"events",
"or",
"the",
"future",
"financial",
"performance",
"of",
"the",
"Company",
".",
"Because",
"such",
"statements",
"are",
"subject",
"to",
"risks",
"and",
"uncertainties",
",",
"actual",
"results",
"may",
"differ",
"materially",
"from",
"those",
"expressed",
"or",
"implied",
"by",
"such",
"forward",
"-",
"looking",
"statements",
".",
"Words",
"such",
"as",
"\"",
"anticipates",
"\"",
",",
"\"",
"plans",
",",
"\"",
"\"",
"expects",
"\"",
",",
"\"",
"intends",
"\"",
",",
"\"",
"will",
"\"",
",",
"\"",
"potential",
"\"",
",",
"\"",
"hope",
"\"",
"and",
"similar",
"expressions",
"are",
"intended",
"to",
"identify",
"forward",
"-",
"looking",
"statements",
".",
"These",
"forward",
"-",
"looking",
"statements",
"are",
"based",
"upon",
"current",
"expectations",
"of",
"the",
"Company",
"and",
"involve",
"assumptions",
"that",
"may",
"never",
"materialize",
"or",
"may",
"prove",
"to",
"be",
"incorrect",
".",
"Actual",
"results",
"and",
"the",
"timing",
"of",
"events",
"could",
"differ",
"materially",
"from",
"those",
"anticipated",
"in",
"such",
"forward",
"-",
"looking",
"statements",
"as",
"a",
"result",
"of",
"various",
"risks",
"and",
"uncertainties",
".",
"Detailed",
"information",
"regarding",
"factors",
"that",
"may",
"cause",
"actual",
"results",
"to",
"differ",
"materially",
"from",
"the",
"results",
"expressed",
"or",
"implied",
"by",
"statements",
"in",
"this",
"press",
"release",
"relating",
"to",
"the",
"Company",
"may",
"be",
"found",
"in",
"the",
"Company",
"'s",
"periodic",
"filings",
"with",
"the",
"Securities",
"and",
"Exchange",
"Commission",
",",
"including",
"the",
"factors",
"described",
"in",
"the",
"sections",
"entitled",
"\"",
"Risk",
"Factors",
"\"",
",",
"copies",
"of",
"which",
"may",
"be",
"obtained",
"from",
"the",
"SEC",
"'s",
"website",
"at",
"www.sec.gov",
".",
"The",
"Company",
"does",
"not",
"undertake",
"any",
"obligation",
"to",
"update",
"forward",
"-",
"looking",
"statements",
"contained",
"in",
"this",
"press",
"release",
".",
"CONTACT",
":",
"Media",
"Contact",
":",
"[email protected]",
"Investor",
"Contact",
":",
"[email protected]",
"SOURCE",
":",
"Riot",
"Blockchain",
",",
"Inc",
"."
] | [
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"B-Parties.BUYING_COMPANY",
"I-Parties.BUYING_COMPANY",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
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"O",
"O",
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"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
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"O",
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"O",
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"O",
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"O",
"O",
"O",
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"O",
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"O",
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"O",
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"O",
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"O",
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"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
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"O",
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1278027-000110465916158375-a16-21956_1ex99d1 | EX-99.1
2
a16-21956_1ex99d1.htm
PRESS RELEASE DATED NOVEMBER 21, 2016
Exhibit 99.1
B&G Foods Completes Acquisition of Spices Business from
ACH Food Companies
Parsippany, N.J.,
November 21, 2016 -B&G Foods, Inc. (NYSE: BGS) announced that effective today it has completed the acquisition of the spices and seasonings business of ACH Food Companies, Inc., a leading supplier of spices and seasonings to retail and food service customers, for $365 million in cash, subject to a customary adjustment based upon inventory at closing. B&G Foods expects the acquisition to be immediately accretive to its earnings per share and free cash flow.
B&G Foods projects that after the acquisition is fully integrated the acquired business will generate on an annualized basis net sales in the range of $220.0 million to $225.0 million, adjusted EBITDA in the range of $38.0 million to $40.0 million and adjusted diluted earnings per share in the range of $0.26 to $0.28.
Because the acquisition was structured as an asset purchase, B&G Foods expects to realize approximately $83.0 million in tax benefits on a net present value basis. At the midpoint of B&G Foods' post-integration projected adjusted EBITDA for the business, the acquisition represents a purchase price multiple of approximately 9.4 times adjusted EBITDA (or 7.2 times adjusted EBITDA net of expected tax benefits).
The ACH spices and seasonings business includes the
Spice Islands
,
Tone's
and
Durkee
brands. The business also includes
Weber
brand sauces and seasonings, which are sold under license. As part of the acquisition, B&G Foods also acquired a manufacturing facility in Ankeny, Iowa.
B&G Foods funded the acquisition and related fees and expenses with cash on hand, including the net proceeds of its August 2016 public offering of common stock, and additional revolving loans under its existing credit facility.
About B&G Foods, Inc.
B&G Foods and its subsidiaries manufacture, sell and distribute a diversified portfolio of high-quality, branded shelf-stable and frozen foods across the United States, Canada and Puerto Rico. Based in Parsippany, New Jersey, B&G Foods' products are marketed under many recognized brands, including
Ac'cent
,
B&G
,
B&M
,
Baker's Joy
,
Bear Creek Country Kitchens
,
Brer Rabbit
,
Canoleo
,
Cary's
,
Cream of Rice
,
Cream of Wheat
,
Devonsheer
,
Don Pepino
,
Emeril's
,
Grandma's Molasses
,
Green Giant
,
JJ Flats
,
Joan of Arc
,
Las Palmas
,
Le Sueur
,
MacDonald's, Mama Mary's
,
Maple Grove Farms
,
Molly McButter
,
Mrs. Dash
,
New York Flatbreads
,
New York Style
,
Old London
,
Original Tings
,
Ortega
,
Pirate's Booty
,
Polaner
,
Red Devil
,
Regina
,
Sa-són, Sclafani
,
Smart Puffs
,
Spring Tree
,
Sugar Twin
,
Trappey's
,
TrueNorth
,
Underwood
,
Vermont Maid
,
Wright's
and now,
Durkee
,
Spice Islands
,
Tone's
and
Weber
. B&G Foods also sells and distributes
Static Guard,
a household product brand.
About Non-GAAP Financial Measures and Items Affecting Comparability
"EBITDA" (net income before net interest expense, income taxes, depreciation and amortization and loss on extinguishment of debt), "adjusted EBITDA" (EBITDA as adjusted for cash and non-cash acquisition-related expenses, gains and losses (which may include third party fees and expenses, integration, restructuring and
consolidation expenses and amortization of acquired inventory fair value step-up) and certain other items described from time to time in the Company's SEC filings and earnings releases); and "adjusted diluted earnings per share" (reported diluted earnings per share adjusted for certain items that affect comparability, including cash and non-cash acquisition-related expenses, gains and losses (which may include third party fees and expenses, integration, restructuring and consolidation expenses and amortization of acquired inventory fair value step-up)), are "non-GAAP financial measures." A non-GAAP financial measure is a numerical measure of financial performance that excludes or includes amounts so as to be different than the most directly comparable measure calculated and presented in accordance with GAAP in B&G Foods' consolidated balance sheets and related consolidated statements of operations, comprehensive income, changes in stockholders' equity and cash flows. Non-GAAP financial measures should not be considered in isolation or as a substitute for the most directly comparable GAAP measures. The Company's non-GAAP financial measures may be different from non-GAAP financial measures used by other companies.
B&G Foods provides earnings guidance only on a non-GAAP basis and does not provide a reconciliation of the Company's forward-looking adjusted EBITDA and adjusted diluted earnings per share guidance to the most directly comparable GAAP financial measures because of the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations, including adjustments that could be made for acquisition-related expenses, gains and losses and other charges reflected in the Company's reconciliation of historic non-GAAP financial measures, the amounts of which, based on past experience, could be material.
Forward-Looking Statements
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." The forward-looking statements contained in this press release include, without limitation, statements related to the acquisition of the spices business of ACH Food Companies, Inc.; the expected impact of the acquisition, including without limitation, the expected impact on B&G Foods' earnings per share, net sales, adjusted EBITDA and free cash flow, and the expected tax benefits of the acquisition
.
Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of B&G Foods to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties readers are urged to consider statements labeled with the terms "believes", "belief", "expects", "projects", "intends", "anticipates" or "plans" to be uncertain and forward-looking. Factors that may affect actual results include, without limitation: whether and when the Company will be able to realize the expected financial results and accretive effect of the acquisition, and how customers, competitors, suppliers and employees will react to the acquisition. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in B&G Foods' filings with the Securities and Exchange Commission, including under Item 1A, "Risk Factors" in the Company's Annual Report on Form 10-K for fiscal 2015 filed on March 2, 2016 and in its subsequent reports on Forms 10-Q and 8-K. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. B&G Foods undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Contacts:
Investor Relations:
Media Relations:
ICR, Inc.
ICR, Inc.
Dara Dierks
Matt Lindberg
866.211.8151
203.682.8214
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"-",
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"-",
"K",
".",
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1077634-000116169710000462-ex991 | EX-99
2
ex991.htm
PRESS RELEASE ISSUED ON 05-21-2010
IA Global, Inc. Form 8-K
Exhibit 99.1
IA GLOBAL ANNOUNCES CLOSING OF CAR PLANNER CO LTD ACQUISITION
SAN FRANCISCO, CA. May 21, 2010/Business Wire
IA Global, Inc. (OTCQB: IAGI.OB) (the "Company") announced the closing of the 100% acquisition of JSK Fund Co Ltd ("Seller"), which owns 100% of Car Planner Co Ltd ("Car Planner"), a Japanese company, from JSK Partners Inc. Group, a party affiliated with an existing shareholder of the Company.
Car Planner records service and commission revenue by selling automotive parts over the internet to approximately 728 car dealers, gas stations, and car maintenance shops in Japan. Car Planner is expected to expand their B to B model to include B to C during FY 2011. Their website is www.carplanner.jp.
Car Planner was established in 2006. During the year ending March 31, 2010, Car Planner recorded sales of $1.5 million and net income of $120,000. Car Planner will be acquired for 30,000,000 JPY or approximately $325,000 at the current exchange rate. The acquisition is expected to be financed through the issuance of approximately 25,000,000 shares of IAGI common stock.
"This acquisition marks the first tangible move aimed at rebuilding the company's asset and revenue base. At the moment, we are aggressively considering a number of similar acquisitions aimed at building a sustainable, profitable global outsourcing and service business. These additional acquisitions are expected to close in the near future" stated Brian Hoekstra, CEO of IA Global, Inc.
About IA Global, Inc.
IA Global, Inc. is a global services and outsourcing company focused on growing existing businesses and expansion through mergers and acquisitions in the Pacific Rim region. The Company utilizes its current partnerships to acquire growth businesses in its target sectors and markets at discounted prices. The Company is also actively engaging businesses that would benefit from its business and marketing expertise, knowledge of Asian Markets, and technology infrastructure.
For further information, contact:
Investor Relations
IA Global, Inc.
101 California Street, Suite 2450
San Francisco, CA 94111
415-946-8828 (t)
415-946-8801 (f)
[email protected]
www.iaglobalinc.com
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements (within the meaning of Section 27a of the Securities Act of 1933 and Section 21e of the Securities Exchange Act of 1934) regarding us and our business, financial condition, results of operations and prospects. Forward-looking statements in this press release reflect the good faith judgment of our management and are based on facts and factors currently known to us. Forward-looking statements are subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements as a result of either the matters set forth or incorporated in this press release generally or certain economic and business factors, some of which may be unknown to and/or beyond the control of IA Global. Specifically, we are exposed to various risks related to legal claims, our need for additional financing and our Ascendiant line of credit, our level of indebtedness, declining economic conditions, our controlling shareholder groups, the sale of significant numbers of our shares and volatility in the market price of our common stock. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. We do not undertake, and we expressly disclaim, any obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of the press release.
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890465-000110465913021894-a13-7836_1ex99d1 | EX-99.1
3
a13-7836_1ex99d1.htm
EX-99.1
Exhibit 99.1
For Immediate Release
Contact:
NPS Pharmaceuticals, Inc.
Corporate Communications
(908) 450-5516
[email protected]
Takeda Pharmaceutical Company Limited
Corporate Communications Dept.
+81-3-3278-2037
Takeda Pharmaceuticals International GmbH
+41445551501
[email protected]
NPS Pharmaceuticals and Takeda Revise Agreements and NPS Re-Gains Full Worldwide Rights to Teduglutide and Recombinant Human Parathyroid Hormone 1-84
-
Takeda to receive NPS common stock of $50 million and a potential future sales-based milestone payment -
- Provides NPS with opportunity to establish global orphan specialty franchise-
- NPS to host conference call today at 8:30 AM ET -
BEDMINSTER, New Jersey and Osaka, Japan - March 19, 2013 - NPS Pharmaceuticals, Inc. (NASDAQ: NPSP) and Takeda Pharmaceutical Company Limited (TSE: 4502, "Takeda") announced today that NPS has re-gained the full worldwide rights to teduglutide (trade name in Europe: Revestive®) and recombinant human parathyroid hormone 1-84 (PTH 1-84) (trade name in Europe: Preotact®). NPS licensed the commercial rights to Preotact and Revestive in 2004 and 2007, respectively, for territories outside of North America to Nycomed, which was acquired by Takeda in 2011.
Under the terms of the agreement, NPS will have worldwide rights to develop and commercialize teduglutide and PTH 1-84. Takeda will also assign to NPS its assets related to the two products, including all of its active pharmaceutical ingredient inventory and information related to the products' continued development, manufacture, and commercialization, including life cycle management assets. Takeda will receive NPS common stock valued at $50 million. Takeda will also earn a milestone payment in the first calendar year that combined worldwide net sales of both products exceed $750 million. NPS has the option of making this milestone payment in the amount of $30 million, in cash or NPS common stock.
"This transaction establishes NPS as a global commercial rare disease company", said Francois Nader, M.D., president and chief executive officer of NPS Pharmaceuticals. "Our primary focus is to secure reimbursement for Revestive in Europe and to finalize our
commercial strategy for both drugs to maximize their worldwide success. However, our 2013 priorities remain the successful U.S. launch of Gattex and the submission of our U.S. marketing application for Natpara".
"Orphan drugs like teduglutide, serve high unmet medical needs. We are confident that as an orphan and specialty company, NPS is best suited to maximize the value of teduglutide and PTH 1-84 and ensure that as many patients as possible benefit from treatment. The structure of this transaction allows us to participate in NPS' future success with these products", said Dr. Frank Morich, chief commercial officer of Takeda.
Teduglutide, marketed in the U.S. under the trade name Gattex®, and approved in Europe under the trade name Revestive is indicated for the treatment of adult short bowel syndrome. Teduglutide was approved in the European Union and the U.S. in August and December 2012, respectively. PTH 1-84 is approved for post-menopausal osteoporosis in the European Union since April 2006, where it is known under the trade name Preotact®. NPS is developing PTH 1-84 under the brand name Natpara® in the U.S. for the treatment of hypoparathyroidism.
Conference call
NPS will host a conference call Tuesday, March 19, 2013 at 8:30 a.m. Eastern Time. To participate in the conference call, dial (800) 237-9752 and use pass code 73884017. International callers may dial (617) 847-8706, using the same pass code. In addition, a live audio of the conference call will be available over the Internet. Interested parties can access the event through the NPS website, http://www.npsp.com.
For those unable to participate in the live call, a replay will be available at (888) 286-8010, with pass code 51837309, until midnight Eastern Time, April 2, 2013. International callers may access the replay by dialing (617) 801-6888, using the same pass code. The webcast will also be available through the NPS website for the same period.
About NPS Pharmaceuticals
NPS Pharmaceuticals is a biopharmaceutical company pioneering and delivering therapies that transform the lives of patients with rare diseases worldwide. The company's lead product, Gattex® 0.05 mg/kg/d (teduglutide [rDNA origin]) for injection is FDA-approved for the treatment of adult patients with short bowel syndrome (SBS) who are dependent on parenteral support. NPS is also developing Natpara® (rhPTH[1-84]) for the treatment of adult hypoparathyroidism and expects to submit its Biologic License Application (BLA) to the FDA in 2013.
NPS's earlier stage pipeline includes two calcilytic compounds, NPSP790 and NPSP795, with potential application in rare disorders involving increased calcium receptor activity, such as autosomal dominant hypocalcemia with hypercalciuria (ADHH). NPS complements its proprietary programs with a royalty-based portfolio of products and product candidates that includes agreements with Amgen, GlaxoSmithKline, Janssen Pharmaceuticals, and Kyowa Hakko Kirin. Additional information about NPS is available through its corporate website, http://www.npsp.com.
2
"NPS", "NPS Pharmaceuticals", "Gattex", "Natpara", "Preotact", and "Revestive" are the company's trademarks.
About Takeda Pharmaceutical Company Limited
Located in Osaka, Japan, Takeda is a research-based global company with its main focus on pharmaceuticals. As the largest pharmaceutical company in Japan and one of the global leaders of the industry, Takeda is committed to strive towards better health for patients worldwide through leading innovation in medicine. Additional information about Takeda is available through its corporate website, http://www.takeda.com.
Disclosure notice
Statements made in this press release, which are not historical in nature, constitute forward-looking statements for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. These statements are based on NPS Pharmaceuticals' current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward looking statements include, but are not limited to, statements concerning our future commercial performance. Risks associated to the company's business include, but are not limited to, the risks associated with any failure by the company to successfully commercialize Gattex, including the risk that physicians and patients may not see the advantages of Gattex and may therefore be reluctant to utilize the product, the risk that private and public payers may be reluctant to cover or provide reimbursement for Gattex, as well as other risk factors described in the company's periodic filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K and Form 10-Qs. All information in this press release is as of the date of this release and NPS undertakes no duty to update this information, whether as a result of new information, future events or otherwise.
###
3
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"in",
"the",
"amount",
"of",
"$",
"30 million",
",",
"in",
"cash",
"or",
"NPS",
"common",
"stock",
".",
"\"",
"This",
"transaction",
"establishes",
"NPS",
"as",
"a",
"global",
"commercial",
"rare",
"disease",
"company",
"\"",
",",
"said",
"Francois",
"Nader",
",",
"M",
".",
"D",
".",
",",
"president",
"and",
"chief",
"executive",
"officer",
"of",
"NPS",
"Pharmaceuticals",
".",
"\"",
"Our",
"primary",
"focus",
"is",
"to",
"secure",
"reimbursement",
"for",
"Revestive",
"in",
"Europe",
"and",
"to",
"finalize",
"our",
"commercial",
"strategy",
"for",
"both",
"drugs",
"to",
"maximize",
"their",
"worldwide",
"success",
".",
"However",
",",
"our",
"2013",
"priorities",
"remain",
"the",
"successful",
"U",
".",
"S",
".",
"launch",
"of",
"Gattex",
"and",
"the",
"submission",
"of",
"our",
"U",
".",
"S",
".",
"marketing",
"application",
"for",
"Natpara",
"\"",
".",
"\"",
"Orphan",
"drugs",
"like",
"teduglutide",
",",
"serve",
"high",
"unmet",
"medical",
"needs",
".",
"We",
"are",
"confident",
"that",
"as",
"an",
"orphan",
"and",
"specialty",
"company",
",",
"NPS",
"is",
"best",
"suited",
"to",
"maximize",
"the",
"value",
"of",
"teduglutide",
"and",
"PTH",
"1",
"-",
"84",
"and",
"ensure",
"that",
"as",
"many",
"patients",
"as",
"possible",
"benefit",
"from",
"treatment",
".",
"The",
"structure",
"of",
"this",
"transaction",
"allows",
"us",
"to",
"participate",
"in",
"NPS",
"'",
"future",
"success",
"with",
"these",
"products",
"\"",
",",
"said",
"Dr",
".",
"Frank",
"Morich",
",",
"chief",
"commercial",
"officer",
"of",
"Takeda",
".",
"Teduglutide",
",",
"marketed",
"in",
"the",
"U",
".",
"S",
".",
"under",
"the",
"trade",
"name",
"Gattex",
"®",
",",
"and",
"approved",
"in",
"Europe",
"under",
"the",
"trade",
"name",
"Revestive",
"is",
"indicated",
"for",
"the",
"treatment",
"of",
"adult",
"short",
"bowel",
"syndrome",
".",
"Teduglutide",
"was",
"approved",
"in",
"the",
"European",
"Union",
"and",
"the",
"U",
".",
"S",
".",
"in",
"August",
"and",
"December",
"2012",
",",
"respectively",
".",
"PTH",
"1",
"-",
"84",
"is",
"approved",
"for",
"post",
"-",
"menopausal",
"osteoporosis",
"in",
"the",
"European",
"Union",
"since",
"April",
"2006",
",",
"where",
"it",
"is",
"known",
"under",
"the",
"trade",
"name",
"Preotact",
"®",
".",
"NPS",
"is",
"developing",
"PTH",
"1",
"-",
"84",
"under",
"the",
"brand",
"name",
"Natpara",
"®",
"in",
"the",
"U",
".",
"S",
".",
"for",
"the",
"treatment",
"of",
"hypoparathyroidism",
".",
"Conference",
"call",
"NPS",
"will",
"host",
"a",
"conference",
"call",
"Tuesday",
",",
"March",
"19",
",",
"2013",
"at",
"8",
":",
"30",
"a.m.",
"Eastern Time",
".",
"To",
"participate",
"in",
"the",
"conference",
"call",
",",
"dial",
"(",
"800",
")",
"237",
"-",
"9752",
"and",
"use",
"pass",
"code",
"73884017",
".",
"International",
"callers",
"may",
"dial",
"(",
"617",
")",
"847",
"-",
"8706",
",",
"using",
"the",
"same",
"pass",
"code",
".",
"In",
"addition",
",",
"a",
"live",
"audio",
"of",
"the",
"conference",
"call",
"will",
"be",
"available",
"over",
"the",
"Internet",
".",
"Interested",
"parties",
"can",
"access",
"the",
"event",
"through",
"the",
"NPS",
"website",
",",
"http://www.npsp.com",
".",
"For",
"those",
"unable",
"to",
"participate",
"in",
"the",
"live",
"call",
",",
"a",
"replay",
"will",
"be",
"available",
"at",
"(",
"888",
")",
"286",
"-",
"8010",
",",
"with",
"pass",
"code",
"51837309",
",",
"until",
"midnight",
"Eastern",
"Time",
",",
"April",
"2",
",",
"2013",
".",
"International",
"callers",
"may",
"access",
"the",
"replay",
"by",
"dialing",
"(",
"617",
")",
"801",
"-",
"6888",
",",
"using",
"the",
"same",
"pass",
"code",
".",
"The",
"webcast",
"will",
"also",
"be",
"available",
"through",
"the",
"NPS",
"website",
"for",
"the",
"same",
"period",
".",
"About",
"NPS",
"Pharmaceuticals",
"NPS",
"Pharmaceuticals",
"is",
"a",
"biopharmaceutical",
"company",
"pioneering",
"and",
"delivering",
"therapies",
"that",
"transform",
"the",
"lives",
"of",
"patients",
"with",
"rare",
"diseases",
"worldwide",
".",
"The",
"company",
"'s",
"lead",
"product",
",",
"Gattex",
"®",
"0.05",
"mg/kg",
"/",
"d",
"(",
"teduglutide",
"[",
"rDNA",
"origin",
"]",
")",
"for",
"injection",
"is",
"FDA",
"-",
"approved",
"for",
"the",
"treatment",
"of",
"adult",
"patients",
"with",
"short",
"bowel",
"syndrome",
"(",
"SBS",
")",
"who",
"are",
"dependent",
"on",
"parenteral",
"support",
".",
"NPS",
"is",
"also",
"developing",
"Natpara",
"®",
"(",
"rhPTH",
"[",
"1",
"-",
"84",
"]",
")",
"for",
"the",
"treatment",
"of",
"adult",
"hypoparathyroidism",
"and",
"expects",
"to",
"submit",
"its",
"Biologic",
"License",
"Application",
"(",
"BLA",
")",
"to",
"the",
"FDA",
"in",
"2013",
".",
"NPS",
"'s",
"earlier",
"stage",
"pipeline",
"includes",
"two",
"calci",
"lytic",
"compounds",
",",
"NPSP790",
"and",
"NPSP795",
",",
"with",
"potential",
"application",
"in",
"rare",
"disorders",
"involving",
"increased",
"calcium",
"receptor",
"activity",
",",
"such",
"as",
"autosomal",
"dominant",
"hypocalcemia",
"with",
"hypercalciuria",
"(",
"ADHH",
")",
".",
"NPS",
"complements",
"its",
"proprietary",
"programs",
"with",
"a",
"royalty",
"-",
"based",
"portfolio",
"of",
"products",
"and",
"product",
"candidates",
"that",
"includes",
"agreements",
"with",
"Amgen",
",",
"GlaxoSmithKline",
",",
"Janssen",
"Pharmaceuticals",
",",
"and",
"Kyowa",
"Hakko",
"Kirin",
".",
"Additional",
"information",
"about",
"NPS",
"is",
"available",
"through",
"its",
"corporate",
"website",
",",
"http://www.npsp.com",
".",
"2",
"\"",
"NPS",
"\"",
",",
"\"",
"NPS",
"Pharmaceuticals",
"\"",
",",
"\"",
"Gattex",
"\"",
",",
"\"",
"Natpara",
"\"",
",",
"\"",
"Preotact",
"\"",
",",
"and",
"\"",
"Revestive",
"\"",
"are",
"the",
"company",
"'s",
"trademarks",
".",
"About",
"Takeda",
"Pharmaceutical",
"Company",
"Limited",
"Located",
"in",
"Osaka",
",",
"Japan",
",",
"Takeda",
"is",
"a",
"research",
"-",
"based",
"global",
"company",
"with",
"its",
"main",
"focus",
"on",
"pharmaceuticals",
".",
"As",
"the",
"largest",
"pharmaceutical",
"company",
"in",
"Japan",
"and",
"one",
"of",
"the",
"global",
"leaders",
"of",
"the",
"industry",
",",
"Takeda",
"is",
"committed",
"to",
"strive",
"towards",
"better",
"health",
"for",
"patients",
"worldwide",
"through",
"leading",
"innovation",
"in",
"medicine",
".",
"Additional",
"information",
"about",
"Takeda",
"is",
"available",
"through",
"its",
"corporate",
"website",
",",
"http://www.takeda.com",
".",
"Disclosure",
"notice",
"Statements",
"made",
"in",
"this",
"press",
"release",
",",
"which",
"are",
"not",
"historical",
"in",
"nature",
",",
"constitute",
"forward",
"-",
"looking",
"statements",
"for",
"purposes",
"of",
"the",
"safe",
"harbor",
"provided",
"by",
"the",
"Private",
"Securities",
"Litigation",
"Reform",
"Act",
"of",
"1995",
".",
"These",
"statements",
"are",
"based",
"on",
"NPS",
"Pharmaceuticals",
"'",
"current",
"expectations",
"and",
"beliefs",
"and",
"are",
"subject",
"to",
"a",
"number",
"of",
"factors",
"and",
"uncertainties",
"that",
"could",
"cause",
"actual",
"results",
"to",
"differ",
"materially",
"from",
"those",
"described",
"in",
"the",
"forward",
"-",
"looking",
"statements",
".",
"Forward",
"looking",
"statements",
"include",
",",
"but",
"are",
"not",
"limited",
"to",
",",
"statements",
"concerning",
"our",
"future",
"commercial",
"performance",
".",
"Risks",
"associated",
"to",
"the",
"company",
"'s",
"business",
"include",
",",
"but",
"are",
"not",
"limited",
"to",
",",
"the",
"risks",
"associated",
"with",
"any",
"failure",
"by",
"the",
"company",
"to",
"successfully",
"commercialize",
"Gattex",
",",
"including",
"the",
"risk",
"that",
"physicians",
"and",
"patients",
"may",
"not",
"see",
"the",
"advantages",
"of",
"Gattex",
"and",
"may",
"therefore",
"be",
"reluctant",
"to",
"utilize",
"the",
"product",
",",
"the",
"risk",
"that",
"private",
"and",
"public",
"payers",
"may",
"be",
"reluctant",
"to",
"cover",
"or",
"provide",
"reimbursement",
"for",
"Gattex",
",",
"as",
"well",
"as",
"other",
"risk",
"factors",
"described",
"in",
"the",
"company",
"'s",
"periodic",
"filings",
"with",
"the",
"U",
".",
"S",
".",
"Securities",
"and",
"Exchange",
"Commission",
",",
"including",
"its",
"Annual",
"Report",
"on",
"Form",
"10",
"-",
"K",
"and",
"Form",
"10",
"-",
"Qs",
".",
"All",
"information",
"in",
"this",
"press",
"release",
"is",
"as",
"of",
"the",
"date",
"of",
"this",
"release",
"and",
"NPS",
"undertakes",
"no",
"duty",
"to",
"update",
"this",
"information",
",",
"whether",
"as",
"a",
"result",
"of",
"new",
"information",
",",
"future",
"events",
"or",
"otherwise",
".",
"#",
"#",
"#",
"3"
] | [
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
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"O",
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"B-Parties.SELLING_COMPANY",
"I-Parties.SELLING_COMPANY",
"I-Parties.SELLING_COMPANY",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"B-Parties.SELLING_COMPANY",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"B-Generic_Info.ANNUAL_REVENUES",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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] |
771252-000129993307002197-exhibit1 | EX-99.1
2
exhibit1.htm
EX-99.1
EX-99.1
Exhibit 99.1
Contact:
Allison Tomek
(561) 805-8044
[email protected]
DIGITAL ANGEL CORPORATION COMPLETES ACQUISITION OF MCMURDO MARINE ELECTRONICS
ACQUISITION EXPECTED TO DOUBLE REVENUE OF DIGITAL ANGEL'S SARBE BUSINESS
AND SOLIDIFY ITS POSITION AS A LEADING GLOBAL PROVIDER OF COMMERCIAL
AND MILITARY EMERGENCY LOCATION BEACONS
SO. ST. PAUL, MN (April 9, 2007) - Digital Angel Corporation (Amex: DOC), an advanced technology
company in the field of rapid and accurate identification, location tracking and condition
monitoring of high-value assets, announced today that it has completed its acquisition of certain
assets and customer contracts of McMurdo Ltd., the U.K.'s premier manufacturer of emergency
location beacons, from Chemring Group PLC. Digital Angel purchased McMurdo for approximately $5.7
million in cash (USD) and will have additional deferred payments ranging from $0-$3 million (USD),
dependent upon performance of the business following the sale.
Digital Angel President and Chief Executive Officer Kevin McGrath said, "Simply put, we believe our
strategic acquisition of McMurdo is the perfect complement to our SARBE business. Its network of
approximately 60 outlets will significantly broaden our emergency location beacon product offering
to serve the military and commercial maritime sectors and provide stability to our revenue base. As
we stated previously, we expect the McMurdo acquisition to add at least $8-9 million of additional
revenue for the remainder of 2007. More importantly, we believe McMurdo's steady stream of business
will generate more predictable profits in the SARBE business on a go-forward basis".
"For several years we have explored ways to turn the SARBE business into a world leader in the
broad customer base of multipurpose search and rescue beacons rather than just a leader in the
important, but cyclical, military market. The acquisition of McMurdo creates a business unit which
serves both the commercial and military markets. In addition to revenue growth, we have a plan in
place to improve margins at McMurdo in the near term. Currently, McMurdo buys the circuit boards,
antennas, and batteries used in their location beacons. However, by utilizing our established
manufacturing capabilities at our Signature Industries operations in the U.K., we will manufacture
those components, and expect to have a more profitable product", continued McGrath.
For nearly seven decades, McMurdo has distinguished itself as a leader in the development and
manufacturing of safety equipment technology. Its products, including the original EPIRB (Emergency
Position Indicating Radio Beacon) and the first GMDSS (Global Maritime Distress and Safety System)
approved Search And Rescue Transponder, have become standard, lifesaving, equipment on many
recreational, commercial and military marine vehicles. In 2000, McMurdo demonstrated the
versatility of its technology successfully launching its first PLB (Personal Locator Beacon) for
use on land, sea or air. The company continues to lead the way in the functionality and accuracy of
emergency location beacons.
Emergency Locator Beacons represent a core competency and key growth market for Digital Angel and
its subsidiary Signature Industries. Impending changes to the COSPAS-SARSAT satellite monitoring
system mean much of the equipment currently in service will require replacement by February 2009.
McMurdo and SARBE, with its improved range of radios such as the SARBE G2R and the SARBE 6-406, are
uniquely positioned to exploit these opportunities in their respective markets.
The SARBE Division of Signature Industries manufactures a complete line of military search and
rescue beacons and has worked closely with the Royal Air Force, a branch of the UK Ministry of
Defense, for more than 50 years. The acquisition of McMurdo's technology and its manufacturing
infrastructure should significantly strengthen Digital Angel's position in the Locator Beacon
Industry.
About Digital Angel Corporation
Digital Angel Corporation (
www.DigitalAngelCorp.com)
develops and deploys sensor and
communications technologies that enable rapid and accurate identification, location tracking, and
condition monitoring of high-value assets. Applications for the Company's products include
identification and monitoring of humans, pets, fish, poultry and livestock through its patented
implantable microchips; location tracking and message monitoring of vehicles and aircraft in remote
locations through systems that integrate GPS and geosynchronous satellite communications; and
monitoring of asset conditions such as temperature and movement, through advanced miniature
sensors. Digital Angel Corporation is majority-owned by Applied Digital Inc. (Nasdaq:ADSX), which
also owns a majority position in VeriChip Corporation (NASDAQ: CHIP).
This press release includes forward-looking statements, including statements regarding the
future opportunities presented by the McMurdo acquisition, the amount of additional top line
revenue that McMurdo will add to the Company, our ability to improve margins at McMurdo and the
opportunities that are expected to arise due to changes in satellite communication technology. The
Company wishes to caution readers that certain important factors and various risks may have
affected and could in the future affect the Company's actual results and could cause the Company's
actual results for subsequent periods to differ materially from those expressed in any
forward-looking statement made by or on behalf of the Company. With respect to the Company's
expectations expressed in this press release, such risk factors include, but are not limited to,
the Company's ability to successfully integrate the McMurdo acquisition, to retain McMurdo's
current clients and its ability to reduce the costs of McMurdo's products. This information is
also qualified in its entirety by cautionary statements and risk factor disclosures contained in
the Company's Securities and Exchange Commission filings, including the Company's annual report on
Form 10-K for the fiscal year ended December 31, 2006 and its quarterly reports. The Company can
offer no assurances that any projections, assumptions or forecasts made or discussed in this
release will be met, and investors should understand the risks of investing solely due to such
projections. The Company undertakes no obligation to revise any forward-looking statements in order
to reflect events or circumstances that may arise after the date of this press release.
# # #
| [
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"This",
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"-",
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"the",
"date",
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"press",
"release",
".",
"#",
"#",
"#"
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1093207-000114420416089660-v435008_ex99-1 | EX-99.1
3
v435008_ex99-1.htm
EXHIBIT 99.1
Exhibit 99.1
PRESS RELEASE
Company Contact:
Investor Contact:
Jennifer Crane
Mark Hood
Crossroads Systems
Crossroads Systems
[email protected]
[email protected]
512.928.6897
512.928.7330
Press Contact:
Matthew Zintel
Zintel Public Relations
[email protected]
281.444.1590
FOR IMMEDIATE RELEASE
Crossroads Announces Sale of Products
Business and Plan to Sell Non-'972 Patent Portfolio
AUSTIN, Texas
,
March
22, 2016
- Crossroads Systems, Inc.
(NASDAQ: CRDS) (the "Company")
today announced the sale of its product
business and all related assets to
Canadian
-based
StrongBox Data Solutions, Inc. ("SDSI")
for net proceeds of $1.85 million
in cash. The agreement includes the Company's entire product portfolio and maintenance business, including its StrongBox
and
SPHiNX
storage
solutions. As
part of the purchase agreement, 27 of Crossroads' employees have transitioned to SDSI. Existing
product customers and partners should see no disruption in service.
The Company, in partnership with Fortress Investment
Group, also signed an agreement with AQUA Licensing to market and sell the non-'972 patent portfolio. The portfolio consists
of 138 patents and pending patents. Although Crossroads commissioned two independent studies of the portfolio in 2013 and 2014,
the Company can provide no assurance regarding the timing or value of a transaction, or even if one will occur.
Richard K. Coleman, Jr.,
President and CEO at Crossroads Systems said, "We believe the sale of our product business
is clearly in shareholders' best interests as it significantly reduces our cash burn. Going forward we will focus our efforts
and resources on vigorously defending our intellectual property and identifying additional IP monetization opportunities. As part
of that initiative, we believe our agreement with Fortress and AQUA to seek a buyer for the non-'972 patent portfolio provides
the quickest potential path to additional shareholder value".
About Crossroads Systems
Crossroads Systems, Inc.
(NASDAQ: CRDS) is an intellectual property licensing company headquartered in Austin, Texas. Founded in 1996 as a product solutions
company, Crossroads created some of the storage industry's most fundamental patents and has licensed patents to more than
50 companies since 2000.
Visit
www.crossroads.com
.
About StrongBox Data Solutions, Inc.
StrongBox Data Solutions is a worldwide leader in big data
storage, providing powerful solutions to many of the world's largest corporations, governments and organizations. StrongBox
is a pioneer in simplifying data management and reducing storage costs with revolutionary, patented technology. We make
data storage simple, flexible and affordable, and take pride in offering unmatched customer support. Step into the next generation
of data storage by visiting us at
www.strongboxdata.com
.
Important Cautions Regarding
Forward-Looking Statements
This press release includes forward-looking statements that relate to the business and expected future events or future performance
of Crossroads Systems, Inc. and involve known and unknown risks, uncertainties and other factors that may cause its actual results,
levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance
or achievements expressed or implied by these forward-looking statements. Words such as, but not limited to, "believe,"
"expect", "anticipate", "estimate", "intend", "plan", "targets", "likely,"
"will", "would", "could", and similar expressions or phrases identify forward-looking statements.
Forward-looking statements include, but are not limited to, statements about Crossroads Systems' ability to implement its business
strategy, including the transition from a hardware storage company to a software solutions and services provider, its ability
to expand its distribution channels, its ability to maintain or broaden relationships with existing distribution channels and
strategic alliances and develop new industry relationships, the performance of third parties in its distribution channels and
of its strategic alliances, the potential market for our data storage products, changes in the fair value of its derivative instruments
and its ability to achieve or maintain profitability. The future performance of Crossroads Systems may be adversely affected by
the following risks and uncertainties: uncertainties relating to product development and commercialization, uncertain market acceptance
of Crossroads Systems products, including StrongBox, intense competition in the data protection and storage markets, variations
in quarterly results and a consequence of unpredictable sales cycles and other factors, the ability to obtain, maintain or protect
patent and other proprietary intellectual property rights, developments in litigation to which we may be a party, technological
change in the industry, future capital requirements, regulatory actions or delays and other factors that may cause actual results
to be materially different from those described or anticipated by these forward-looking statements. For a more detailed discussion
of these factors and risks, investors should review Crossroads Systems' reports on Form
10-K, Form 10-Q, Form 8-K
and other reports filed with the Securities and Exchange Commission, which can be accessed through the SEC's website
or by clicking "SEC Filings" on the Company's Investor Relations website at
http://investors.crossroads.com
. Forward-looking
statements in this press release are based on management's beliefs and opinions at the time the statements are made. All
forward-looking statements are qualified in their entirety by this cautionary statement, and Crossroads Systems undertakes
no duty to update this information to reflect future events, information or circumstances.
©2016 Crossroads Systems, Inc.,
Crossroads and Crossroads Systems are registered trademarks of Crossroads Systems, Inc. All trademarks are the property of their
respective owners. All specifications are subject to change without notice.
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789132-000078913213000005-ex99pressrelease | EX-99
3
ex99pressrelease.htm
PRESS RELEASE
Ex 99 Press Release
Exhibit 99
COMPANY CONTACTS:
Spectranetics Corporation
Guy Childs, Chief Financial Officer
(719) 633-8333
INVESTOR CONTACTS:
Westwicke Partners
Lynn Pieper
415-202-5678
FOR IMMEDIATE RELEASE
SPECTRANETICS STRENGTHENS VASCULAR PORTFOLIO WITH PURCHASE OF UPSTREAM PERIPHERAL TECHNOLOGIES, LTD
New products minimize radiation exposure and decrease procedure time
COLORADO SPRINGS, Colo. (January 7, 2013) - The Spectranetics Corporation (Nasdaq: SPNC) today announced an agreement to purchase the assets of Upstream Peripheral Technologies, Ltd., an affiliate of ARAN Research Development & Prototypes Ltd., for up-front consideration of $5.5 million with additional milestone payments tied to revenue, manufacturing transfer, and other milestones specified in the asset purchase agreement. Included in the acquisition are unique technologies that expand Spectranetics' Vascular Intervention portfolio. The products have received U.S. Food and Drug Administration (FDA) 510(k) clearance and have been issued CE certificates. A full launch in the United States and Europe will occur in February 2013.
The Israeli-based Upstream Peripheral Technologies, Ltd products were developed to minimize radiation exposure in peripheral vascular procedures generally and decrease procedure time specifically in retrograde access procedures. The Quick-Access™ Needle Holder is an innovative, easy-to-use device that helps physicians access vessels safely and efficiently. The Quick-Cross Capture™ Guidewire Connector enables physicians to easily, reliably and safely capture and exchange guidewires in retrograde procedures. It works by utilizing a low-pressure balloon which centers the funnel-shaped device within the vessel and captures the guidewire quickly without damaging the wire or the vessel.
The Company expects to generate positive cash flow from the transaction in 2013, excluding the purchase price and related milestone payments. Consistent with past practice, the financial impact will be incorporated into the Company's guidance following sufficient commercial experience.
"Crossing a chronic total occlusion (CTO) using the retrograde approach can be a very tricky and time-consuming procedure", said Dr. Donald Jacobs of St. Louis University. "The Quick-Access and the Quick-Cross Capture have made this procedure more predictable and efficient".
Dr. Andrej Schmidt of Park Hospital Leipzig, Germany, said, "As a busy interventionalist, I worry about constant radiation exposure. I now regularly use the needle holder when I need fluoroscopic guidance for vessel access to keep my hands as far away as possible from the radiation field. Additionally the wire catcher speeds procedure time, further reducing radiation exposure for my patients and me".
Scott Drake, President and Chief Executive Officer of Spectranetics, stated, "This acquisition is a move consistent with our strategy to treat challenging endovascular lesions. The technologies are complementary to our vascular portfolio and enable us to leverage our current call points".
"We are excited to see our innovations in the hands of physicians to improve patients' lives. With the strength of its sales force and the strategic focus on lower extremity procedures, Spectranetics is the perfect acquirer of these technologies", stated Abi Zakai, Chairman of Upstream Peripheral Technologies, Ltd.
About Spectranetics
Spectranetics develops, manufactures, markets and distributes single-use medical devices used in minimally invasive procedures within the cardiovascular system. The Company's products are sold in 40 countries throughout the world and are used to treat arterial blockages in the heart and legs as well as the removal of pacemaker and defibrillator leads.
The Company's Vascular Intervention (VI) products include a range of peripheral and cardiac laser catheters for ablation of occluded arteries above and below the knee and within coronary arteries. The Company also markets aspiration and thrombectomy catheters for the removal of thrombus and support catheters to facilitate crossing of coronary and peripheral arterial blockages.
The Lead Management (LM) product line includes excimer laser sheaths and cardiac lead management accessories for the removal of pacemaker and defibrillator cardiac leads.
For more information, visit www.spectranetics.com.
Safe Harbor Statement
This news release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934 (the Exchange Act), as amended, and the Private Securities Litigation Reform Act of 1995, and is subject to the safe harbor created by that section. Forward-looking statements contained in this release constitute our expectations or forecasts of future events as of the date this release was issued and are not statements of historical fact. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Such statements may include words such as "anticipate", "will", "estimate", "expect", "project", "intend", "should", "plan", "believe", "hope", "enable", "potential, and other words and terms of similar meaning in connection with any discussion of, among other things, future operating or financial performance, strategic initiatives and business strategies, regulatory or competitive environments, our intellectual property and product development. You are cautioned not to place undue reliance on these forward-looking statements and to note that they speak only as of the date hereof. Factors that could cause actual results to differ materially from those set forth in the forward-looking statements are set forth in the risk factors listed from time to time in our filings with the SEC. Readers are encouraged to review Item 1A. - Risk Factors and all other disclosures appearing in the Company's Form 10-K for the year ended December 31, 2011 filed with the Securities and Exchange Commission, for further information on risks and uncertainties that could affect the Company's business, financial condition and results of operation. We disclaim any intention or obligation to update or revise any financial projections or forward-looking statements due to new information or other events.
Quick-Cross Capture™ and Quick-Access™ are trademarks of the Spectranetics Corporation.
# # #
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"financial",
"impact",
"will",
"be",
"incorporated",
"into",
"the",
"Company",
"'s",
"guidance",
"following",
"sufficient",
"commercial",
"experience",
".",
"\"",
"Crossing",
"a",
"chronic",
"total",
"occlusion",
"(",
"CTO",
")",
"using",
"the",
"retrograde",
"approach",
"can",
"be",
"a",
"very",
"tricky",
"and",
"time",
"-",
"consuming",
"procedure",
"\"",
",",
"said",
"Dr",
".",
"Donald",
"Jacobs",
"of",
"St",
".",
"Louis",
"University",
".",
"\"",
"The",
"Quick",
"-",
"Access",
"and",
"the",
"Quick",
"-",
"Cross",
"Capture",
"have",
"made",
"this",
"procedure",
"more",
"predictable",
"and",
"efficient",
"\"",
".",
"Dr",
".",
"Andrej",
"Schmidt",
"of",
"Park",
"Hospital",
"Leipzig",
",",
"Germany",
",",
"said",
",",
"\"",
"As",
"a",
"busy",
"interventionalist",
",",
"I",
"worry",
"about",
"constant",
"radiation",
"exposure",
".",
"I",
"now",
"regularly",
"use",
"the",
"needle",
"holder",
"when",
"I",
"need",
"fluoroscopic",
"guidance",
"for",
"vessel",
"access",
"to",
"keep",
"my",
"hands",
"as",
"far",
"away",
"as",
"possible",
"from",
"the",
"radiation",
"field",
".",
"Additionally",
"the",
"wire",
"catcher",
"speeds",
"procedure",
"time",
",",
"further",
"reducing",
"radiation",
"exposure",
"for",
"my",
"patients",
"and",
"me",
"\"",
".",
"Scott",
"Drake",
",",
"President",
"and",
"Chief",
"Executive",
"Officer",
"of",
"Spectranetics",
",",
"stated",
",",
"\"",
"This",
"acquisition",
"is",
"a",
"move",
"consistent",
"with",
"our",
"strategy",
"to",
"treat",
"challenging",
"endo",
"vascular",
"lesions",
".",
"The",
"technologies",
"are",
"complementary",
"to",
"our",
"vascular",
"portfolio",
"and",
"enable",
"us",
"to",
"leverage",
"our",
"current",
"call",
"points",
"\"",
".",
"\"",
"We",
"are",
"excited",
"to",
"see",
"our",
"innovations",
"in",
"the",
"hands",
"of",
"physicians",
"to",
"improve",
"patients",
"'",
"lives",
".",
"With",
"the",
"strength",
"of",
"its",
"sales",
"force",
"and",
"the",
"strategic",
"focus",
"on",
"lower",
"extremity",
"procedures",
",",
"Spectranetics",
"is",
"the",
"perfect",
"acquirer",
"of",
"these",
"technologies",
"\"",
",",
"stated",
"Abi",
"Zakai",
",",
"Chairman",
"of",
"Upstream",
"Peripheral",
"Technologies",
",",
"Ltd",
".",
"About",
"Spectranetics",
"Spectranetics",
"develops",
",",
"manufactures",
",",
"markets",
"and",
"distributes",
"single",
"-",
"use",
"medical",
"devices",
"used",
"in",
"minimally",
"invasive",
"procedures",
"within",
"the",
"cardiovascular",
"system",
".",
"The",
"Company",
"'s",
"products",
"are",
"sold",
"in",
"40",
"countries",
"throughout",
"the",
"world",
"and",
"are",
"used",
"to",
"treat",
"arterial",
"blockages",
"in",
"the",
"heart",
"and",
"legs",
"as",
"well",
"as",
"the",
"removal",
"of",
"pacemaker",
"and",
"defibrillator",
"leads",
".",
"The",
"Company",
"'s",
"Vascular",
"Intervention",
"(",
"VI",
")",
"products",
"include",
"a",
"range",
"of",
"peripheral",
"and",
"cardiac",
"laser",
"catheters",
"for",
"ablation",
"of",
"occluded",
"arteries",
"above",
"and",
"below",
"the",
"knee",
"and",
"within",
"coronary",
"arteries",
".",
"The",
"Company",
"also",
"markets",
"aspiration",
"and",
"thrombectomy",
"catheters",
"for",
"the",
"removal",
"of",
"thrombus",
"and",
"support",
"catheters",
"to",
"facilitate",
"crossing",
"of",
"coronary",
"and",
"peripheral",
"arterial",
"blockages",
".",
"The",
"Lead",
"Management",
"(",
"LM",
")",
"product",
"line",
"includes",
"excimer",
"laser",
"sheaths",
"and",
"cardiac",
"lead",
"management",
"accessories",
"for",
"the",
"removal",
"of",
"pacemaker",
"and",
"defibrillator",
"cardiac",
"leads",
".",
"For",
"more",
"information",
",",
"visit",
"www.spectranetics.com",
".",
"Safe",
"Harbor",
"Statement",
"This",
"news",
"release",
"includes",
"\"",
"forward",
"-",
"looking",
"statements",
"\"",
"within",
"the",
"meaning",
"of",
"Section",
"27A",
"of",
"the",
"Securities",
"Act",
"of",
"1933",
",",
"as",
"amended",
",",
"Section",
"21E",
"of",
"the",
"Securities",
"Exchange",
"Act",
"of",
"1934",
"(",
"the",
"Exchange",
"Act",
")",
",",
"as",
"amended",
",",
"and",
"the",
"Private",
"Securities",
"Litigation",
"Reform",
"Act",
"of",
"1995",
",",
"and",
"is",
"subject",
"to",
"the",
"safe",
"harbor",
"created",
"by",
"that",
"section",
".",
"Forward",
"-",
"looking",
"statements",
"contained",
"in",
"this",
"release",
"constitute",
"our",
"expectations",
"or",
"forecasts",
"of",
"future",
"events",
"as",
"of",
"the",
"date",
"this",
"release",
"was",
"issued",
"and",
"are",
"not",
"statements",
"of",
"historical",
"fact",
".",
"You",
"can",
"identify",
"these",
"statements",
"by",
"the",
"fact",
"that",
"they",
"do",
"not",
"relate",
"strictly",
"to",
"historical",
"or",
"current",
"facts",
".",
"Such",
"statements",
"may",
"include",
"words",
"such",
"as",
"\"",
"anticipate",
"\"",
",",
"\"",
"will",
"\"",
",",
"\"",
"estimate",
"\"",
",",
"\"",
"expect",
"\"",
",",
"\"",
"project",
"\"",
",",
"\"",
"intend",
"\"",
",",
"\"",
"should",
"\"",
",",
"\"",
"plan",
"\"",
",",
"\"",
"believe",
"\"",
",",
"\"",
"hope",
"\"",
",",
"\"",
"enable",
"\"",
",",
"\"",
"potential",
",",
"and",
"other",
"words",
"and",
"terms",
"of",
"similar",
"meaning",
"in",
"connection",
"with",
"any",
"discussion",
"of",
",",
"among",
"other",
"things",
",",
"future",
"operating",
"or",
"financial",
"performance",
",",
"strategic",
"initiatives",
"and",
"business",
"strategies",
",",
"regulatory",
"or",
"competitive",
"environments",
",",
"our",
"intellectual",
"property",
"and",
"product",
"development",
".",
"You",
"are",
"cautioned",
"not",
"to",
"place",
"undue",
"reliance",
"on",
"these",
"forward",
"-",
"looking",
"statements",
"and",
"to",
"note",
"that",
"they",
"speak",
"only",
"as",
"of",
"the",
"date",
"hereof",
".",
"Factors",
"that",
"could",
"cause",
"actual",
"results",
"to",
"differ",
"materially",
"from",
"those",
"set",
"forth",
"in",
"the",
"forward",
"-",
"looking",
"statements",
"are",
"set",
"forth",
"in",
"the",
"risk",
"factors",
"listed",
"from",
"time",
"to",
"time",
"in",
"our",
"filings",
"with",
"the",
"SEC",
".",
"Readers",
"are",
"encouraged",
"to",
"review",
"Item",
"1",
"A.",
"-",
"Risk",
"Factors",
"and",
"all",
"other",
"disclosures",
"appearing",
"in",
"the",
"Company",
"'s",
"Form",
"10-K",
"for",
"the",
"year",
"ended",
"December",
"31",
",",
"2011",
"filed",
"with",
"the",
"Securities",
"and",
"Exchange",
"Commission",
",",
"for",
"further",
"information",
"on",
"risks",
"and",
"uncertainties",
"that",
"could",
"affect",
"the",
"Company",
"'s",
"business",
",",
"financial",
"condition",
"and",
"results",
"of",
"operation",
".",
"We",
"disclaim",
"any",
"intention",
"or",
"obligation",
"to",
"update",
"or",
"revise",
"any",
"financial",
"projections",
"or",
"forward",
"-",
"looking",
"statements",
"due",
"to",
"new",
"information",
"or",
"other",
"events",
".",
"Quick",
"-",
"Cross",
"Capture",
"™",
"and",
"Quick",
"-",
"Access",
"™",
"are",
"trademarks",
"of",
"the",
"Spectranetics",
"Corporation",
".",
"#",
"#",
"#"
] | [
"O",
"O",
"O",
"O",
"O",
"O",
"O",
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"O",
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"O",
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1178727-000101376215000764-f8k072015ex99i_droneaviation | EX-99.1
9
f8k072015ex99i_droneaviation.htm
TEXT OF PRESS RELEASE DATED JULY 20, 2015
Exhibit 99.1
Drone
Aviation Holding Corp. Acquires Exclusive Commercial Rights to UAV Autopilot System Created at Georgia Institute of Technology
Licensed
Technology Enables Development and Commercialization of New Robotic Platforms for Unmanned and Autonomous Vehicles
JACKSONVILLE,
FL and ATLANTA, GA - July 20, 2015
- Drone Aviation Holding Corp. (OTCQB: DRNE) (DAC), manufacturer of lighter-than-air
aerostats and tethered drones, today announced that it has entered into an agreement to acquire exclusive commercial software
licenses for the "GUST" (Georgia Tech UAV Simulation Tool) autopilot system from Adaptive Flight, Inc. Through the
purchase of the assets of privately held Adaptive Flight Inc. (AFI), DAC is assuming the
transferable
licenses from the Georgia Tech Research Corporation which
include
flight simulation
tools and fault tolerant flight control
algorithms. In addition, DAC will acquire AFI's
dedicated flight computer and additional related hardware and airframes.
Dr.
Eric N. Johnson, co-founder of AFI and the Lockheed Martin Associate Professor of Avionics Integration at Georgia Tech's
School of Aerospace Engineering, stated, "GUST is the basis of the unmanned aircraft systems flight research capability
developed to perform research at Georgia Tech for a variety of sponsors since 2001 which has also been utilized by AFI since 2007
for commercial unmanned systems. I look forward to working with DAC on the continued commercialization of this critical enabling
technology and realizing the many benefits that will result from the fusion of advanced control systems and vision-based technologies
for unmanned vehicles by enhancing reliability and enabling new missions".
Jay
Nussbaum, Chairman of Drone Aviation, added, "The GUST autopilot will deliver immediate value to DAC by enhancing our WATT
tethered drones and expan
ding
our market to include autonomous vehicles across a spectrum
of defense-related and civilian products. This technology adds valuable intellectual property that would take years and
considerable
investment
to reproduce and enables our long-term growth plans vital to our remaining at the forefront of unmanned vehicle
development".
AFI's
assets include flight control technologies for both single and multi-rotor Vertical Take-Off and Landing (VTOL) and Fixed-Wing
(FW) UAVs. In addition to the GUST simulation tool, AFI's technology include
s
an
adaptive guidance and flight control architecture which forms a complete autopilot with vision-based estimation and control capabilities.
This autonomous autopilot technology was recently demonstrated at the annual American Helicopter Society (AHS) International MAV
Challenge in Virginia Beach, VA. where the Georgia Tech School of Aerospace Engineering entry took first place successfully demonstrating
their drone's ability to take off from a helipad and using no external aides, autonomously find a target in a search area and
return to its original launch location.
About
Drone Aviation Holding Corp.
Drone
Aviation Holding Corp. (DRNE) develops and manufactures cost-effective, compact and rapidly deployable aerial platforms including
lighter-than-air aerostats and electric-powered drones designed to provide government and commercial customers with enhanced surveillance
and communication capabilities. Utilizing a proprietary tether system, the Company's products are designed to provide prolonged
operational duration capabilities combined with improved reliability, uniquely fulfilling critical requirements in military, law
enforcement and commercial and industrial applications. For more information about Drone Aviation Holding Corp. please visit
www.DroneAviationCorp.com
or view our reports and filings with the Securities and Exchange Commission on
http://www.sec.gov
,
including the Risk Factors included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2014, as well as
information about the Company in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
Forward-Looking
Statements
This
press release contains projections of future results and other forward-looking statements that involve a number of risks and uncertainties
and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Important factors
that may cause actual results and outcomes to differ materially from those contained in the projections and forward-looking statements
included in this press release are described in our publicly filed reports. Factors that could cause these differences include,
but are not limited to, the acceptance of our products, lack of revenue growth, failure to realize profitability, inability to
raise capital and market conditions that negatively affect the market price of our common stock. The Company disclaims any responsibility
to update any forward-looking statements.
Disclosure
Dr.
Johnson is entitled to royalties derived from DAC's sale of products related to the technologies described in this article.
The terms of this arrangement have been reviewed and approved by Georgia Tech in accordance with its conflict of interest policies.
Contact:
Jerry Schranz
Antenna Group
201-465-8020
[email protected]
2
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"The",
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".",
"Contact",
":",
"Jerry",
"Schranz",
"Antenna",
"Group",
"201",
"-",
"465",
"-",
"8020",
"[email protected]",
"2"
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"O",
"O",
"O",
"O",
"O",
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"O",
"O",
"O",
"O",
"O",
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"O",
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"O",
"O",
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] |
849240-000084924007000014-exhibit99_1 | EX-99.1
5
exhibit99_1.htm
HAWK CORPORATION PRESS RELEASE DATED FEBRUARY 2, 2007
Hawk Corporation Press Release dated February 2, 2007
EXHIBIT
99.1
Hawk
Completes Sale of its
Precision
Components Segment
CLEVELAND,
Ohio - February 2, 2007 - Hawk Corporation (AMEX:HWK) announced today that
the
Company has completed the sale of its precision components segment to an
entity
formed by Saw Mill Capital Partners, L.P. and certain members of the segment's
management team for approximately $94.2 million consisting of $93.5 million
in
cash and the assumption by Saw Mill of $0.7 million in debt. The cash portion
of
the purchase price includes proceeds from a preliminary working capital
adjustment which remains subject to further adjustment by the parties. Hawk
intends to use the proceeds of the transaction for growth opportunities in
the
Company's friction products and performance racing segments either internally or
through acquisitions, to retire debt and for general corporate purposes,
including the possibility of a limited stock buy-back, the details of which
will
be subsequently announced if Hawk determines to pursue a stock
buy-back.
The
precision components segment will be reflected as a discontinued operation
in
the Company's December 31, 2006 financial results.
The
Company
Hawk
Corporation is a leading worldwide supplier of highly engineered products.
Its
friction products group is a leading supplier of friction materials for brakes,
clutches and transmissions used in airplanes, trucks, construction and mining
equipment, farm equipment, recreational and performance automotive vehicles.
The
Company's performance racing group manufactures clutches and gearboxes for
motorsport applications and performance automotive markets. Headquartered
in
Cleveland, Ohio, Hawk has approximately 1,100 employees at 11 manufacturing,
research, sales and administrative sites in 5 countries.
Saw
Mill Capital Partners, L.P
.
Saw
Mill
Capital Partners, L.P. is an investment fund managed by Saw Mill Capital
LLC, a
middle market private equity firm founded in 1997 that acquires manufacturing
and service companies with enterprise values of $25 to $150 million. To learn
more about Saw Mill Capital, visit their website at www.sawmillcapital.com.
Forward
Looking Statements
This
press release includes forward-looking statements concerning the use of proceeds
of the sale of the Company's precision components segment, the possibility of a
stock buy-back, the repayment of debt and other statements that involve risks
and uncertainties. These forward-looking statements are based upon management's
expectations and beliefs concerning future events. Forward-looking statements
are necessarily subject to risks, uncertainties and other factors, many of
which
are outside the control of the Company that could cause actual results to
differ
materially from such statements. These risks, uncertainties and other factors
include, but are not limited to, decisions by the Company regarding the use
of
proceeds from the sale, acquisition opportunities, the satisfaction of
limitations on the use of proceeds contained in the Company's financing
arrangements and market conditions. Reference is made to Hawk's filings with the
Securities and Exchange Commission, including its annual report on Form 10-K
for
the year ended December 31, 2005, its quarterly reports on Form 10-Q, and
other
periodic filings, for a description of other factors that could cause actual
results to differ materially from those in the forward-looking statements.
Any
forward-looking statement speaks only as of the date on which such statement
is
made, and the Company undertakes no obligation to update any forward-looking
statement, whether as a result of new information, future events or
otherwise.
Contact
Information
Ronald
E.
Weinberg, Chairman & CEO
(216)
861-3553
Joseph
J.
Levanduski, CFO
(216)
861-3553
Hawk
Corporation is online at: www.hawkcorp.com
| [
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1080360-000120445910000260-exhibit991 | EX-99.1
3
exhibit991.htm
EXHIBIT 99.1
China Valves Technology, Inc. Exhibit 99.1 - Prepared by TNT Filings Inc.
Exhibit 99.1
China Valves Technology, Inc. Completes the Acquisition of Able Delight (Changsha) Valve Co., Ltd.
KAIFENG, CHINA, February 8, 2010 - China Valves Technology, Inc. (Nasdaq: CVVT) ("China Valves" or the "Company"), a leading metal valve manufacturer with operations in the People's Republic of China (the "PRC"), today announced that on Feb 3,
2010, the Company has completed the transaction to acquire 100% asset ownership in Able Delight (Changsha) Valve Co., Ltd., ("Able Delight"), a leading valve manufacturing enterprise that specializes in manufacturing valves for the water supply and
power supply industries. Consideration for the acquisition is approximately $15 million in cash, which the Company will pay in full by the end of February. As result of this acquisition, Able Delight became a wholly-owned subsidiary of China
Valves.
China Valves will consolidate Able Delight's operations into its financial results effective February 2010. For fiscal year 2010, the Company expects Able Delight to contribute approximately 140 million RMB ($20.5 million) in revenue and 34
million RMB ($5.0 million) in net income. Able Delight expects to deliver its current backlog of orders valued at approximately 90 million RMB ($13.2 million) by the end of 2010.
Able Delight, located in Changsha, Hunan Province, is a leading producer of butterfly valves, check valves and ball valves for hydropower plants, thermal power plants, nuclear power plants and water and sewage treatment applications. Able Delight
has the capability to produce the largest butterfly valves in China with a maximum diameter of 5.5 meters. As a result of this acquisition, Able Delight will transfer all its active patents to China Valves.
"We are very pleased with the timely close of this acquisition and we welcome Able Delight to the China Valves family", said Mr. Siping Fang, Chairman and CEO of China Valves. "Able Delight's established customer relationships with water treatment
facilities and thermal power plants in Hunan province and high-quality manufacturing practices make it a powerful addition to our existing operations. Able Delight's product portfolio consists mainly of high-end valves, and it is the only
manufacturer in China with capacity to produce large butterfly valves with a maximum diameter of 5.5 meters, which help us move up the value curve".
About China Valves Technology, Inc.
China Valves Technology, Inc. through its subsidiaries, Zhengzhou Zhengdie Valve Co, Ltd., Henan Kaifeng High Pressure Valve Co., Ltd., Tai Zhou Tai De Valve Co., Ltd., Yangzhou Rock Valve Lock Technology Co., Ltd., and Able Delight (Changsha) Valve
Co., Ltd., is engaged in development, manufacture and sale of high-quality metal valves for the electricity, petroleum, chemical, water, gas and metallurgy industries. The Company has one of the best known brand names in China's valve industry,
and its history can be traced back to 1959 when it was formed as a state-owned enterprise. The Company develops valve products by extensive research and development and owns a number of patents. It enjoys significant domestic market shares and
exports to Asia and Europe. For more information, visit
http://www.cvalve.com
Safe Harbor Statements
Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors
include, but are not limited to, the Company's ability to develop and market new products, the anticipated revenue and net income contribution of Able Delight, the ability to acquire other companies, changes from anticipated levels of sales, changes
in national or regional economic and competitive conditions, changes in relationships with customers, changes in principal product profits and other factors detailed from time to time in the Company's filings with the United States Securities and
Exchange Commission and other regulatory authorities. The Company undertakes no obligation to update or revise to the public any forward-looking statements, whether as a result of new information, future events or otherwise. This press release was
developed by China Valves, and is intended solely for informational purposes and is not to be construed as an offer or solicitation of an offer to buy or sell the Company's stock. This press release is based upon information available to the public,
as well as other information from sources which management believes to be reliable, but it is not guaranteed by China Valves to be accurate, nor does China Valves purport it to be complete. Opinions expressed herein are those of management as of the
date of publication and are subject to change without notice.
For more information, please contact:
China Valves Technology, Inc.
Ray Chen, VP of Investor Relations
Phone: +1-650-281-8375 +86-13925279478
Email: [email protected]
Web: http://www.cvalve.com
CCG Investor Relations
Linda Salo, Sr. Financial Writer
Phone: +1 646-922-0894
Email: [email protected]
Crocker Coulson, President
Phone: +1-646-213-1915
Email: [email protected]
Web: http://www.ccgirasia.com
| [
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1090012-000119312519188543-d769970dex991 | EX-99.1
2
d769970dex991.htm
EX-99.1
EX-99.1
Exhibit 99.1
NEWS RELEASE
Devon
Energy Completes Sale of Canadian Business
OKLAHOMA CITY - June
27, 2019
- Devon Energy Corp. (NYSE: DVN) today
announced that it has completed the sale of its Canadian business to Canadian Natural Resources Limited for CAD $3.8 billion, or USD $2.8 billion. Devon received net proceeds of USD $2.5 billion, after adjusting for purchase price
adjustments and estimated taxes associated with the sale. The company plans to repatriate the net sales proceeds along with Canadian cash balances of approximately USD $500 million to the U.S. to repay debt.
To complete the company's transformation to a high-return U.S. oil growth business, Devon continues to advance the divestiture process for its Barnett
Shale gas assets in north Texas. The Barnett assets are currently being marketed and the company expects to exit the assets by the end of 2019.
Forward-Looking Statements
This press release
contains forward-looking statements within the meaning of the federal securities laws. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the company. These risks include, but are
not limited to: the amount of net proceeds and other cash ultimately repatriated, and the ultimate use of such cash; changes in commodity prices, market conditions or other circumstances that could negatively impact the company's ability to
complete the anticipated debt repurchase; our ability to successfully exit the Barnett assets and the timing of any such transaction; and the other risks identified in the Company's Annual Report on Form
10-K
and its other filings with the Securities and Exchange Commission (SEC). Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments
may differ materially from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the date hereof, and the company does not undertake any obligation to update the forward-looking
statements as a result of new information, future events or otherwise.
About Devon Energy
Devon Energy is a leading independent energy company engaged in finding and producing oil and natural gas. Based in Oklahoma City and included in the S&P
500, Devon operates in several of the most prolific oil and natural gas plays in the U.S. with an emphasis on achieving strong returns and capital-efficient cash-flow growth. For more information, please visit
www.devonenergy.com
.
Investor Contacts
Scott Coody,
405-552-4735
Chris Carr,
405-228-2496
Media Contact
John Porretto,
405-228-7506
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"risks",
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1302946-000130294612000073-turv20121102exh994 | EX-99.4
5
turv20121102exh994.htm
DIONISIO SECOND AMENDMENT
turv20121102exh994.htm
Exhibit 99.4
Second Amendment to the Master Agreement
This is a Second Amendment (the "Second Amendment") to that certain Master Agreement dated the 12th day of April, 2012 (the "Effective Date") and the First Amendment to Master Agreement (collectively the "Agreement"), both of which are executed by and among R&S Dionisio Real Estate and Equipment, LLC, a Colorado limited liability company ("R&S"), Dionisio Produce & Farms, LLC, a Colorado limited liability company ("DPF") and Russell L. Dionisio ("Dionisio") on the one hand and hereinafter referred to collectively as "Seller" and Two Rivers Farms, LLC, a Colorado limited liability company (hereinafter "Buyer" or "TRF"), a wholly-owned entity of Two Rivers Water Company, a Colorado corporation ("TRWC"), on the other hand.
Seller and Buyer are individually referred to hereinafter as a "Party" and collectively as the "Parties." Capitalized terms used herein if not separately defined in this Second Amendment shall have the meanings set forth in the Agreement. To the extent of any inconsistencies between the terms of this Second Amendment and the Agreement, the terms of this Second Amendment shall control.
Recital
Buyer anticipates obtaining financing for the First Phase of the transactions contemplated in the Agreement earlier than expected. In order to procure favorable financing for the First Phase, the Lender requires that Buyer form a new limited liability company to take title to the Land, Water Rights, and other property set forth in the Agreement.
Agreement
In consideration of the foregoing Recital which is incorporated herein by this reference and the covenants contained herein, the Parties agree as follows:
1.
"TR Bessemer, LLC" shall replace "Two Rivers Farms, LLC" as the Buyer as that term is utilized throughout the Agreement.
2.
The parties shall endeavor to close on the First Phase, as that term is defined in the First Amendment, on or before June 30, 2012.
3.
Section III of the Master Agreement entitled "Purchase of Water Rights" shall be amended as follows:
Purchase of Water Rights
. R&S shall sell to Buyer all of R&S's right, title and interest in and to the Water Rights associated with the Land which are represented by share certificates in the Bessemer Ditch Company (hereinafter "Bessemer"). More specifically, ownership of the above-referenced Land purchased by Buyer comes with ownership of 146.4 shares in the Bessemer which shall be transferred to Buyer at Closing, in the form and manner customary for the transfer of Bessemer shares. Seller agrees to cooperate and execute all necessary documentation for the transfer of said shares upon Closing or within three (3) days following Closing. Seller represents and warrants that the 146.4 Bessemer share certificates are unencumbered except by the Bank's current Senior Deeds of Trust which shall be released upon Closing.
4.
That portion of Sections 7.1 of Exhibit C1 and Exhibit C2 to the Master Agreement dealing with the title commitment insuring over the standard exceptions shall be amended to reflect the following: "The title insurance commitment shall not commit to delete or insure over the standard exceptions which relate to: parties in possession, (2) unrecorded easements, (3) survey matters, (4) unrecorded mechanics' liens, (5) gap period (effective date of commitment to date deed is recorded), and (6) unpaid taxes, assessments and unredeemed tax sales prior to the year of Closing." All other portions of Section 7.1 of Exhibit C1 and Exhibit C2 to the Master Agreement shall remain unchanged.
5.
The First Phase of the Transaction shall also include Buyer's assumption of the leases in effect at the time of execution of this Second Amendment wherein Seller leases farmland from third party lessors (the "Third Party Leases"). At the time of execution of this Second Amendment Seller leases farmland from the following individuals and entities: Brian Mater, Dana Mauro, Dan Nue, Lucille Wilson, Disanti Land & Cattle, Anita Trujillo, Vineland Investment, and Chuck Dionisio. Buyer shall assume the Third Party Leases and the Crops derived therefrom upon closing of the First Phase.
6.
Future Assurances. From and after closing on the First Phase, the Parties agree to execute and deliver such other and further documents and agreements as may be requested by a Party to more fully implement and document the intent of the Parties as set forth in this Second Amendment.
7.
Survival. Except as modified by this Second Amendment, all of the terms and conditions of the Agreement remain in full force and effect as currently stated therein and shall survive the closings of the First and Second Phases, if any.
SELLER:
R & S Dionisio Real Estate and Equipment, LLC, a Colorado limited liability company
By: /s/ Russ Dionisio
Title: Managing Member
Dionisio Produce & Farms, LLC a Colorado limited liability company
By: Russ Dionisio
Title: Managing Member
BUYER:
TR Bessemer, LLC
By: /s/ Wayne Harding
Title: Manager
TRWC, INC.
,
a Colorado corporation d/b/a
Two Rivers Water Company
By: /s/ Wayne Harding
Its: CFO
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",",
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"Amendment",
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"Recital",
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".",
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",",
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"Agreement",
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"Recital",
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"1",
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"\"",
"TR",
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"\"",
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"Rivers",
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"\"",
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".",
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".",
"3",
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"Section",
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"Rights",
".",
"R",
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"4",
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"4",
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".",
"4",
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"Sections",
"7",
".",
"1",
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"C1",
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"C2",
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"Agreement",
"dealing",
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":",
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"Brian",
"Mater",
",",
"Dana",
"Mauro",
",",
"Dan",
"Nue",
",",
"Lucille",
"Wilson",
",",
"Disanti",
"Land",
"&",
"Cattle",
",",
"Anita",
"Trujillo",
",",
"Vineland",
"Investment",
",",
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"Chuck",
"Dionisio",
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"the",
"Crops",
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".",
"6",
".",
"Future",
"Assurances",
".",
"From",
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"after",
"closing",
"on",
"the",
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"Phase",
",",
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"agree",
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"further",
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"and",
"agreements",
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"requested",
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"Amendment",
".",
"7",
".",
"Survival",
".",
"Except",
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"Amendment",
",",
"all",
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"Russ",
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"CFO"
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"O",
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