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https://www.wibw.com/2022/03/31/police-13-year-old-runaway-girl-dies-hospital-after-found-unresponsive-motel/
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Police: 13-year-old runaway girl dies at hospital after found unresponsive at motel
D’IBERVILLE, Miss. (WALA/Gray News) - A 13-year-old girl has died in a Mississippi-area hospital after being reported as a runaway from Alabama earlier this month.
WALA reports the Mobile Police Department first reported Keyanna Sylvester as a runaway on March 21. She was then found unresponsive in a motel room in D’Iberville, Mississippi, on March 24, according to D’Iberville Police Capt. Jason King.
Sylvester was taken to the hospital but later died, according to police.
The 13-year-old spent time in Ocean Springs and Moss Point, Mississippi, according to reports.
King said it was too early in the investigation to decide whether foul play was involved in the girl’s death.
“We’re making sure we’re careful about not saying whether it’s criminal or not criminal,” he said.
King also said police are waiting for a report by the medical examiner.
“This hurts me real bad because Keyanna was my baby,” said neighbor Alexie Thames. “You all need to help find whoever did this to my baby. "
Anyone with further information on this case was urged to contact the D’Iberville Police Department at 228-396-4252.
Copyright 2022 WALA via Gray Media Group, Inc. All rights reserved.
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https://www.wibw.com/2022/03/31/survivors-child-abuse-neglect-want-lawmakers-make-more-people-be-required-report-it/
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Survivors of child abuse and neglect want lawmakers to make more people be required to report it
TOPEKA, Kan. (WIBW) - When families of child abuse survivors found out current Kansas law does not consider clergy as mandatory reporters, they knew they had to find a way to make a change.
Survivors and families of survivors are looking to hold a certain group accountable to report child abuse.
“Anyone that is in clergy or minister, if you go to your pastor with the fact that someone has been hurt they will be bound by law to report. That’s the thing that is hitting home the most, why do we need a bill for this, this is common sense why wouldn’t anyone in the state of Kansas want to keep kids safe,” said Lori Cook, mother of abuse victim.
Lawmakers are considering a resolution for a constitutional amendment, adding clergy and religious organizations to the list of mandatory reporters.
One survivor says if this was in place years ago, her abuse could have been prevented.
“The church stood by and didn’t do anything to help me out. They protected my abuser since they were not at that time and still are not mandated reporters so they are not obligated to do anything at the time,” said Joe Cheray.
Supporters say the measure could save thousands of lives.
“Studies show that 90% of children abused, are abused by someone they know. Abusers typically don’t stop after one child, the man who abused me, I know at least six other women he abused and I wasn’t the first and I wasn’t the last,” said survivor Kim Bergman.
A second measure would end the statute of limitations for childhood sexual abuse victims to file a civil lawsuit.
Cook says she feels the state has failed survivors.
“Because of the trauma my family has gone through, it could have been prevented and at night when I go to bed, I pray for all the other kids out there that are falling through the cracks because our state simply won’t take care of it so that they are safe.”
Copyright 2022 WIBW. All rights reserved.
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https://www.wibw.com/2022/04/01/oscars-producer-says-police-offered-arrest-will-smith/
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Oscars producer says police offered to arrest Will Smith
LOS ANGELES (AP) — Oscars producer Will Packer said Los Angeles police were ready to arrest Will Smith after Smith slapped Chris Rock on the Academy Awards stage.
“They were saying, you know, this is battery, was a word they used in that moment,” Packer said in a clip released by ABC News Thursday night of an interview he gave to “Good Morning America.” “They said we will go get him. We are prepared. We’re prepared to get him right now. You can press charges, we can arrest him. They were laying out the options.”
But Packer said Rock was “very dismissive” of the idea.
“He was like, ‘No, no, no, I’m fine,” Packer said. “And even to the point where I said, ‘Rock, let them finish.’ The LAPD officers finished laying out what his options were and they said, ‘Would you like us to take any action?’ And he said no.”
The LAPD said in a statement after Sunday night’s ceremony that they were aware of the incident, and that Rock had declined to file a police report. The department declined comment Thursday on Packer’s interview, a longer version of which will air on Friday morning.
The Academy of Motion Pictures Arts and Sciences met Wednesday to initiate disciplinary proceedings against Smith for violations against the group’s standards of conduct. Smith could be suspended, expelled or otherwise sanctioned.
The academy said in a statement that “Mr. Smith’s actions at the 94th Oscars were a deeply shocking, traumatic event to witness in-person and on television.”
Without giving specifics, the academy said Smith was asked to leave the ceremony at the Dolby Theatre, but refused to do so.
Smith strode from his front row seat on to the stage and slapped Rock after a joke Rock made about Smith’s wife, Jada Pinkett Smith, when he was on stage to present the Oscar for best documentary.
On Monday, Smith issued an apology to Rock, the academy and to viewers, saying “I was out of line and I was wrong.”
The academy said Smith has the opportunity to defend himself in a written response before the board meets again on April 18.
Rock publicly addressed the incident for the first time, but only briefly, at the beginning of a standup show Wednesday night in Boston, where he was greeted by a thunderous standing ovation. He said “I’m still kind of processing what happened.”
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Follow AP Entertainment Writer Andrew Dalton on Twitter: https://twitter.com/andyjamesdalton
Copyright 2022 The Associated Press. All rights reserved.
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https://www.wibw.com/2022/04/01/usda-forecasting-higher-food-grocery-costs-2022/
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USDA forecasting higher food, grocery costs in 2022
(Gray News) - It looks like elevated food prices are going to continue this year, according to the U.S. Department of Agriculture.
The USDA released its Food Price Outlook for 2022 and predicted the cost of groceries would continue to increase to as much as 4%.
According to the Consumer Price Index, grocery and supermarket food prices were already 8.6% higher in February than last year and up nearly 1.5% from January to February in 2022.
As reported by the Associated Press, prices for U.S. consumers have continued to jump recently, leaving families facing the highest inflation rate since 1990.
“We’re getting into this situation where we have spiraling inflation,” said Jay Hatfield, CEO of Infrastructure Capital Advisors. “Inflation in one area drives inflation in another.”
Currently, the CPI reports all food categories are increasing in price other than fresh vegetables. Last year, the beef and veal categories had the most significant price increase of 9.3%, and the fresh vegetable category had the smallest at 1.1%. However, no food categories decreased in price in 2021.
Poultry prices are also expected to increase up to 7%, with egg prices predicted to increase up to 3.5% in 2022.
Overall, grocery store and supermarket food purchases are expected to increase up to 4%, with restaurant purchases or food away from home forecasted to increase up to 6.5%, according to the USDA.
Copyright 2022 Gray Media Group, Inc. All rights reserved.
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https://www.wibw.com/2022/04/01/5-fetuses-found-inside-dc-home-anti-abortion-activist/
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5 fetuses found inside DC home of anti-abortion activist
WASHINGTON (AP) — Police found five fetuses in the home of a self-proclaimed “anti-abortion activist” who was indicted this week on federal charges alleging that she was part of a group of people who blocked access to a Washington, D.C. reproductive health center.
The Metropolitan Police Department says officers were responding to a tip about “potential bio-hazard material” at a home in Southeast Washington on Wednesday when they located the five fetuses inside.
A local television station, WUSA9, captured video of police searching the home and reported that the home belonged to Lauren Handy. The 28-year-old was one of nine people charged in an indictment that was made public on Wednesday that accused the group of traveling to Washington, blocking access to the reproductive health center and streaming it on Facebook.
The station, which first reported the discovery, said Handy told a reporter that “people will freak out when they hear” what detectives found inside her house. Handy did not respond to a message sent to her Facebook profile seeking comment.
Police said the five fetuses were collected by Washington’s medical examiner and the investigation is ongoing.
In the indictment, prosecutors said Handy had called the clinic pretending to be a prospective patient and scheduling an appointment. Once there, on Oct. 22, 2020, eight of the suspects pushed their way inside and began blocking the doors, according to the indictment. Five of them chained themselves together on chairs to block the treatment area as others blocked the employee entrance to stop other patients from coming inside, the indictment alleges. Another suspect blocked people from coming into the waiting room, prosecutors charge.
Handy and the eight others were charged with conspiracy against rights and violating the Freedom of Access to Clinic Entrances Act. The federal law, more commonly known as the FACE Act, prohibits physically obstructing or using the threat of force to intimidate or interfere with a person seeking reproductive health services.
Copyright 2022 The Associated Press. All rights reserved.
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https://www.wibw.com/2022/04/01/doctor-convicted-prescribing-over-1m-opioid-pills-las-vegas-cocktail-drugs/
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Doctor convicted for prescribing over $1M in opioid pills, ‘Las Vegas cocktail’ of drugs
(Gray News) - A physician in Texas was recently convicted for wrongly prescribing more than $1 million worth of opioid hydrocodone pills.
According to the U.S. Department of Justice, 52-year-old James Pierre, a Houston doctor, unlawfully prescribed controlled substances from June 2015 through July 2016 to individuals posing as patients at a West Parker Medical Clinic, a pill-mill clinic located in Houston.
Trial evidence showed Pierre and his physician assistant issued hundreds of unlawful prescriptions for hydrocodone and carisoprodol, a combination of controlled substances known as the “Las Vegas Cocktail,” to hundreds of individuals posing as patients each week.
According to the Justice Department, “runners” brought numerous people to pose as patients at the clinic and paid about $220 to $500 per visit in exchange for the prescriptions.
Throughout the scheme, West Parker made about $1.75 million from prescriptions, and over $300,000 went to Pierre, according to investigators.
The Department of Justice reports Pierre was convicted of one count of conspiracy to unlawfully distribute and dispense controlled substances and seven counts of unlawfully distributing and dispensing controlled substances.
The 52-year-old is currently scheduled to be sentenced on June 27 and faces up to 20 years in prison for each count.
Officials said that one co-conspirator has pleaded guilty to conspiracy to distribute controlled substances unlawfully.
DEA Houston investigated the case, according to the Department of Justice.
Copyright 2022 Gray Media Group, Inc. All rights reserved.
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https://www.wibw.com/2022/04/01/high-schoolers-test-skills-state-fbla-conference/
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High schoolers test skills at state FBLA conference
TOPEKA, Kan. (WIBW) - Kansas high schoolers are putting real-life skills to the test.
The Kansas FBLA state conference kicked off Thursday at Stormont Vail Events Center and Hotel Topeka at City Center.
Some 1200 students from across the state competed in more than 60 business-related events. Categories include business plans, ethics, resumes, web site design, and community service projects.
Professionals with expertise in the various fields served as judges and offered feedback to the students. 13′s Melissa Brunner was a judge in the broadcast journalism competition.
The event also allows students to showcase all FBLA - Future Business Leaders of America - has to offer.
“We have we have so many opportunities for kids to kind of dabble in things and see what they like and see what they don’t like. Then we have things like a job interview. Everybody is going to have to be interviewed for a job so that really gives you that real world aspect,” said Izabelle Youngers of Kingman High School, who serves as this year’s FBLA state president.
Conference attendees also are electing the new slate of statewide FBLA officers. Candidates set up campaign booths for students to learn about their ideas and experience.
Copyright 2022 WIBW. All rights reserved.
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https://www.wibw.com/2022/04/01/ix-50-kretzer-campaigns-hs-girls-wrestling-be-an-official-sport-ks/
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IX AT 50: Kretzer campaigns for HS girls wrestling to be an official sport in KS
“I kind of missed the opportunity a little bit, but it was all worth it in the end,” she said. “I wanted girls to have the opportunity.”
June 23, 1972, President Nixon signed Title IX into law, prohibiting sex discrimination in educational institutions that receive federal funding. Title IX has largely been considered the springboard for collegiate women’s sports to get where they are today — but the fight for equality is far from over. Every Thursday night at 10:00 p.m. leading up to the 50th anniversary of the law’s passing, 13 Sports will honor the women who changed the game for girls’ and women’s sports in Kansas.
“IX at 50: The Trailblazers of Women’s Sports in Kansas”
MCPHERSON, Kan. (WIBW) - Mya Kretzer is a three-time state champion — though you won’t find her name in any history books.
“I just wanted to be recognized for being the best in the state,” she said.
Wrestling wasn’t wasn’t offered for girls while she was at McPherson High. So, under her head coach (also her dad), she competed against boys.
“That was just emotionally a whole lot,” Kretzer said. “And on my body - I still have body pains just because of me wrestling against boys that were a lot stronger.”
She and her dad began working to push Kansas to join 14 other states at the time to recognize girls wrestling as a sanctioned sport.
Together, they went to high school coaching seminars across the state, drumming up interest and bolstering the number of girls competing.
“Helping them develop girls teams, what’s the next steps,” Kretzer explained. “We got girls tournaments going on in the state. We helped develop that in the state. A few tournaments, and then more tournaments the next year.”
McPherson even held three unofficial state championships, starting with 56 competitors in 2017. The event quadruped in size two years later.
Finally, the spring of her senior year, KSHSAA approved adopting girls wrestling with a vote of 63-2.
She sat in the room overcome with emotion when the vote passed.
“It helped me develop confidence, just the friendships that I’ve made with everyone, how strong that was, it was just an emotional time for me to be able to share that with everyone,” she said.
Just this week, her name went up on the walls of her alma mater:
The sign reads, “MAY IT BE KNOWN THAT THESE THREE GIRLS BLAZED A TRAIL TO ALLOW YOU THE OPPORTUNITY TO WRESTLE AGAINST OTHER GIRLS IN THE QUEST TO CLAIM GOLD. THEY NEVER HAD THIS OPPORTUNITY, BUT THEIR EFFORTS ALLOW YOU THIS SACRED PATH.”
“I kind of missed the opportunity a little bit, but it was all worth it in the end,” she said. “I wanted girls to have the opportunity.”
Copyright 2022 WIBW. All rights reserved.
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https://www.wibw.com/2022/04/01/ix-50-kshsaa-honors-trailblazers-state-basketball-tournaments/
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IX AT 50: KSHSAA honors trailblazers at state basketball tournaments
June 23, 1972, President Nixon signed Title IX into law, prohibiting sex discrimination in educational institutions that receive federal funding. Title IX has largely been considered the springboard for high school and collegiate women’s sports to get where they are today — but the fight for equality is far from over. Every Thursday night at 10:00 p.m. leading up to the 50th anniversary of the law’s passing, 13 Sports will honor the women who changed the game for girls’ and women’s sports in Kansas.
“IX at 50: The Trailblazers of Women’s Sports in Kansas”
EMPORIA, Kan. (WIBW) - The Kansas State High School Activities Association honored women’s sports trailblazers at this year’s state basketball tournaments.
Each pioneer presented the game ball to officials prior to tip-off, and champions after the game.
Amanda Flick-Gutierrez was among them. She has volunteered at the 5A state tournament at Emporia State’s White Auditorium for the last two decades.
“These are kids out there that are giving it their everything,” she said. “That’s exciting for me to see.”
It’s a gym she’s quite familiar with.
The Mission Valley High School graduate was co-captain of the 1998 Lady Hornet basketball team that reached the Division II National Championship, finishing the season 33-1.
“That was one of the most amazing experience,” she said. “We had so many Emporia State fans down there in Pine Bluff, so it was one of the greatest experiences that I’ve had.”
Now, she’s helping the next generation of athletes.
“I’ve had two girls, I have a senior in high school and a sophomore, but those two groups I started coaching when they were in second grade,” she said. “I coached at the middle school here, so basketball is just a big part of who I am. And now rather than me playing, it’s me passing on that knowledge that I’ve gotten through the years.”
Things came full circle at this year’s tournament; Flick Gutierrez got to watch her daughter, Avery, finish her playing career with Emporia High.
“Pass on what you’ve learned, help get those experiences for others,” she said.
Eight women in total were honored the weekend of state:
- 1A DII Great Bend - Jackie Stiles (Claflin)
- 1A DI Dodge City - Michelle Stueve-Corpening (Olpe)
- 2A Manhattan - Kelly Moylan (St. Mary’s)
- 3A Hutchinson - Nicole Ohlde-Johnson (Clay Center)
- 4A Salina - Kendra Wecker (Marysville)
- 5A Emporia - Susan Woolf-McPherson (Andover) and Amanda Flick-Gutierrez (Mission Valley)
- 6A Wichita - Lynette Woodard (Wichita North)
Copyright 2022 WIBW. All rights reserved.
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https://www.wibw.com/2022/04/01/ku-preps-2018-final-four-rematch-against-villanova/
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KU preps for 2018 Final Four rematch against Villanova
The Jayhawks will look to avenge their 2018 loss to Villanova Saturday in New Orleans.
NEW ORLEANS (WIBW) - Organizers for the Final Four spent Thursday putting the finishing touches on the Superdome, while the Jayhawks did some fine-tuning of their own.
KU took the court for the first time in New Orleans for a practice session closed to the media and public.
“We’re fired up,” KU head coach Bill Self said. “I don’t think anybody in this field is flying under any radar or anything like that. Everybody has the same goals. Actually, I believe all four teams have a legitimate shot if they play well.”
The ‘Hawks are prepping for their first Final Four appearance since 2018. They’ll face the same team they played four years ago in this round: Villanova.
Last time around, it was all Wildcats. The eventual national champions jumped out to a 22-4 lead before hitting a Final Four record 18 threes on a 45% clip to win by 16.
“It was just one of those games,” Villanova head coach Jay Wright said Thursday. “We just made — it was ridiculous. And we’ve been on the other side of that. I remember looking down at Bill thinking, ‘I’ve been there.’ It just so happened in a Final Four game.”
“I haven’t wanted to think about that since 2018,” Self said with a smile. “They were unbelievable that day.”
Both coaches agree fans will see two totally different teams this weekend — not just in personnel, but in style of play.
“We don’t have the firepower that that team had,” Wright said. “Kansas is a way faster team and much more explosive and much more perimeter-oriented than that team.”
“I think I could say this team was more connected on both ends,” Self said. “I think this year’s team has become better defensively, and offensively we’re not far behind at all what that team was.”
The 2018 game isn’t the only ghost of KU’s tournament past haunting this team.
Players said Thursday they’re fueled by last year’s early exit.
“It sucked getting out in the second round,” Ochai Agbaji said. “We knew it took taking it game by game and really focusing in on every single game, every single possession and not taking anything for granted.”
“Ochai said in the locker room after that loss, ‘Remember this feeling. Use that as the fuel for you to go forward and for this next year for the guys coming back,’” Mitch Lightfoot said. “And I think we can say we did that.”
“We got beat pretty bad last year in the tournament. We all had a little chip on our shoulder after that,” Christian Braun said. “I would say that motivated us to work hard this summer.”
Copyright 2022 WIBW. All rights reserved.
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https://www.wibw.com/2022/04/01/shop-decks-out-popcorn-ku-colors-ahead-final-four-match-up/
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Shop decks out popcorn in KU colors ahead of Final Four match up
TOPEKA, Kan. (WIBW) - A downtown Topeka popcorn shop is getting in the Final Four spirit with a colorful batch.
Cashmere Gourmet Popcorn on S. Kansas Ave. whipped up a special batch in Kansas University’s colors of crimson and blue. The red is cherry flavored, and the blue is flavored like vanilla.
They will offer two sizes -- small and medium -- with the smallest at $7.00 and the medium-sized bag at $12.75. 13 NEWS spoke with Cashmere’s employee, Debbie Coleman, who said it’s flying off the shelves.
“It is really fun to see local teams go far,” Coleman said. “As soon as Angie, one of the owners posted it [online], within five minutes a boy came in and got it, because his dad called him and said you are closest you need to go down and get some.”
The popcorn shop says it will get more supplies to make more batches on Friday, April 1. If KU wins the game against Villanova on April 2, they will make more to keep up with the demand.
Cashmere also offered red and gold popcorn during football season, in honor of the Kansas City Chiefs.
Copyright 2022 WIBW. All rights reserved.
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https://www.wibw.com/2022/04/01/thousands-baby-teether-rattles-recalled-due-choking-hazard/
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Thousands of baby teether rattles recalled due to choking hazard
(Gray News) - A recall has been issued for nearly 9,000 motion-activated baby rattles sold in the U.S. and Canada.
PlayMonster has recalled the Kid O Hudson glow rattles due to their legs possibly breaking off and posing a choking hazard to young children, according to the Consumer Product Safety Commission.
The agency describes the product as a motion-activated rattle shaped like a puppy that makes a soft rattling sound when shaken. The plastic puppy is white with spots that can glow in red or green. The puppy’s legs are textured soft plastic for teething children.
Currently, there have been three reports of the rattle legs breaking off, according to the recall. No injuries have been reported.
Consumers are advised to immediately take the recalled walkers away from young children and contact PlayMonster by calling 1-800-469-7506 to discuss refund options.
The rattles were sold at specialty stores nationwide and online at Target.com, Amazon.com, Walmart.com and other sites from February 2018 through February 2022.
Copyright 2022 Gray Media Group, Inc. All rights reserved.
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https://www.wibw.com/2022/04/01/topeka-event-space-beacon-holds-grand-opening/
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Topeka event space Beacon holds grand opening
Published: Mar. 31, 2022 at 9:41 PM CDT|Updated: 47 minutes ago
TOPEKA, Kan. (WIBW) - The Beacon, a new Topeka event space, is officially up and running.
The venue held a grand opening and open house Thursday night. Located at 420 SW 9th St., The Beacon is in the former Topeka Women’s Club building. Owners say heavy renovations; including new ceilings, bathrooms, and a catering kitchen; gave the building new life.
You can check out BeaconTopeka.com if you want to reserve the space for an event.
Copyright 2022 WIBW. All rights reserved.
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https://www.wibw.com/2022/04/01/topeka-family-gets-keys-new-home-through-topeka-habitat-humanity/
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Topeka family gets keys to new home through Topeka Habitat For Humanity
Published: Mar. 31, 2022 at 9:37 PM CDT|Updated: 53 minutes ago
TOPEKA, Kan. (WIBW) - One Topeka family were able to celebrate their new home Thursday night.
Topeka habitat for humanity dedicated a home to their January family. Aleka signed her zero-interest mortgage and got the keys to her new place, and her family is ready to move in. The South Topeka home is the 112th newly-constructed house provided through the nonprofit.
“This is one of our favorite days of the year, being able to hand the keys to a homeowner that’s worked hard to budget, to become a homeowner, to realize her dreams,” THFH CEO Janice Watkins said.
Topeka Habitat also got some help from Advisors Excel, who furnished the home.
Copyright 2022 WIBW. All rights reserved.
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https://www.wibw.com/2022/04/01/we-people-reunion-event-was-postponed-until-further-notice/
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The “We the People Reunion” event was postponed until further notice
Published: Mar. 31, 2022 at 10:16 PM CDT|Updated: 13 minutes ago
TOPEKA, Kan. (WIBW) - A Holton event called ‘We the People Reunion’ is being postponed.
The ‘We the People Reunion’ was slated for March 31 through April 2 at the N.E. Kansas Heritage Complex, but the Jackson Co. fair board, which owns the facility and had rented it to the event organizers, said it has been delayed.
They say the organizers do not have a future date.
Among those scheduled were conservative Christian radio host Brad Barton, ‘My pillow’ CEO Mike Lindell, Uncle Si’ from Duck Dynasty, and Republican Attorney General candidate Kris Kobach.
Copyright 2022 WIBW. All rights reserved.
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https://www.wibw.com/2022/04/01/man-owes-survival-story-colon-cancer-screening/
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Man owes survival story to colon cancer screening
TOPEKA, Kan. (WIBW) - Jim Peterson had just celebrated his 50th birthday, and retired from the Kansas Air National Guard last year when he went in for annual physical.
“The doctor recommended the colonoscopy, went in and I was already positive for cancer,” Peterson said.
The married father of four from Osage City was diagnosed with stage three colon cancer.
“It was pretty shocking,” Peterson said. “I’d just retired so this was not the way I thought I’d be doing my first year of retirement.”
Nurse Practioner Robin McKay, APRN with Cotton O’Neil Cancer Center, says screenings are vital in catching colon cancer.
“One thing that makes colon cancer so dangerous is often there’s no symptoms until it’s a more advanced disease,” she said.
In 2018, as health officials reported in increase in colon cancer incidence among young patients, the American Cancer Society updated its recommendations. It now advises people with average risk to get a colonoscopsy starting at age 45, rather than 50. If it is normal, it should be repeated in 10 years, sooner if doctors find anything concerning. Those with a strong family history of colon cancer or polyps, should get their first screening when they’re 10 years before the age at which their loved one was diagnosed.
“Often cancer has been present in your colon for many years before it becomes a cancer as an atypical polyp,” McKay said. “On colonoscopies, they are able to directly visualize those polyps and remove them to prevent them from ever becoming a cancer.”
Peterson has undergone surgery and chemotherapy, with another surgery to go. He hopes his story convinces others to take their health seriously.
“I hope people get out there and get their screenings done as early as they can and stay on top of it,” he said.
McKay says other types of screening use stool samples. While they are fairly accurate, she says they can’t immediately address polyps, like a colonoscopy can. Also, if anything is abnormal, you’d have to get a colonoscopy anyway.
As far as prevention, she says smoking, alcohol use, obesity, and consuming high amounts of processed foods or red meat all increase colon cancer risk.
March is Colon Cancer Awareness Month.
Copyright 2022 WIBW. All rights reserved.
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https://www.wibw.com/prnewswire/2022/03/31/american-homes-4-rent-announces-pricing-public-offering-600-million-3625-senior-notes-due-2032-300-million-4300-senior-notes-due-2052/
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CALABASAS, Calif., March 31, 2022 /PRNewswire/ -- American Homes 4 Rent (NYSE: AMH) (the "Company") today announced that its operating partnership, American Homes 4 Rent, L.P. (the "Operating Partnership"), has priced an offering of $600 million aggregate principal amount of 3.625% Senior Notes due 2032 (the "2032 Notes") and $300 million aggregate principal amount of 4.300% Senior Notes due 2052 (the "2052 Notes" and together with the 2032 Notes, the "Notes"). The 2032 Notes will be issued at 97.517% of par value with a coupon of 3.625% per annum. The 2052 Notes will be issued at 97.237% of par value with a coupon of 4.300% per annum. Interest on the Notes is payable semi-annually in arrears on April 15 and October 15 of each year, commencing October 15, 2022. The 2032 Notes will mature on April 15, 2032 and the 2052 Notes will mature on April 15, 2052. The offering is subject to the satisfaction of customary closing conditions and is expected to close on or about April 7, 2022.
The Operating Partnership intends to use the net proceeds from the offering to repay amounts outstanding on its revolving credit facility and any remaining net proceeds for general corporate purposes, including, without limitation, property acquisitions and developments, the expansion, redevelopment and/or improvement of existing properties in its portfolio, other capital expenditures, the redemption of its Series F preferred shares, the redemption of its other preferred shares, the repayment of outstanding indebtedness, working capital and other general purposes.
BofA Securities, J.P. Morgan and PNC Capital Markets LLC are acting as joint book-running managers for the offering, and Wells Fargo Securities, BMO Capital Markets, Citigroup, Morgan Stanley and Raymond James are acting as book-running managers for the offering. Mizuho Securities, Scotiabank, US Bancorp, Regions Securities LLC, Ramirez & Co., Inc. and RBC Capital Markets are acting as co-managers for the offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful before registration or qualification thereof under the securities laws of any such state or jurisdiction.
The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (the "SEC") and only by means of a prospectus and prospectus supplement. Copies of the preliminary prospectus supplement relating to the offering and the final prospectus supplement, when available, may be obtained by visiting EDGAR on the SEC's website at www.sec.gov or from BofA Securities, Inc., 200 North College Street, NC1-004-03-43, Charlotte, NC 28255-0001, Attn: Prospectus Department, by telephone at 1-800-294-1322 or by email at dg.prospectus_requests@bofa.com; J.P. Morgan Securities LLC, Attn: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-866-803-9204; and PNC Capital Markets LLC, The Tower at PNC Plaza, 300 Fifth Avenue, Floor 10, Pittsburgh, PA 15222, or by telephone at 1-855-881-0697.
About American Homes 4 Rent
American Homes 4 Rent (NYSE: AMH) is a leader in the single-family home rental industry and "American Homes 4 Rent" is a nationally recognized brand for rental homes, known for high-quality, good value and resident satisfaction. We are an internally managed Maryland real estate investment trust, or REIT, focused on acquiring, developing, renovating, leasing, and operating attractive, single-family homes as rental properties. As of December 31, 2021, we owned 57,024 single-family properties in selected submarkets in 22 states.
Forward-Looking Statements
This press release contains "forward-looking statements" that relate to beliefs, expectations or intentions and similar statements concerning matters that are not of historical fact and are generally accompanied by words such as "estimate," "project," "predict," "believe," "expect," "anticipate," "intend," "potential," "plan," "goal," "outlook," "guidance" or other words that convey the uncertainty of future events or outcomes. These forward-looking statements may include, but are not limited to, the Operating Partnership's ability to complete the offering and the intended use of net proceeds. The Operating Partnership has based these forward-looking statements on its current expectations and assumptions about future events. While the Operating Partnership's management considers these expectations to be reasonable, they are inherently subject to risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Operating Partnership's control and could cause actual results to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. These and other important factors, including "Risk Factors" disclosed in, or incorporated by reference into, the prospectus from the Company's and the Operating Partnership's Annual Report on Form 10-K for the year ended December 31, 2021, and in the Company's and the Operating Partnership's subsequent filings with the SEC, may cause the Operating Partnership's actual results to differ materially from anticipated results expressed or implied by these forward-looking statements. Investors should not place undue reliance on these forward-looking statements. The Company undertakes no obligation to update any forward-looking statement to conform to actual results or changes in expectations, unless required by applicable law.
Contact:
American Homes 4 Rent
Investor Relations
Phone: (855) 794-2447
Email: investors@ah4r.com
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https://www.wibw.com/prnewswire/2022/03/31/aphelion-aerospace-secures-investment-mercury-group-founder-advisors/
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DENVER, March 31, 2022 /PRNewswire/ -- Aphelion Aerospace, based in Denver, Colorado is establishing itself as a one-stop-shop for low-cost small satellite integration and on-demand launch operations from practically anywhere around the world. Aphelion announced today that it has received significant investment from strategic investors including The Mercury Group, Founder Advisors, and Richtr Financial Studio. These investments are part of Aphelion's Seed round which the company is running in parallel with their equity crowdfunding campaign on StartEngine.
Aphelion CEO Miguel Ayala and CTO Matthew Travis indicate that these investments will help them continue pushing forward with the development of their suborbital launch vehicle technology demonstrator. They plan to conduct low-altitude suborbital demonstration launches by the end of the year to prove out their green non-toxic, non-cryogenic propulsion technology in flight.
Based on the caliber and background of their board advisors and investors, it is clear that the Aphelion team is positioning to become a strong player in the space industry. Last year, Aphelion announced that Edward Mango, former Program Manager of the NASA Commercial Crew Transportation Program had joined their board of advisors. Mr. Mango is one of the key NASA leaders behind the success of SpaceX. Aphelion also announced that Kevin Rice, former Director of Business Management at NASA Jet Propulsion Laboratory and Lockheed Martin Skunk Works had joined their board of advisors. Mr. Rice practically wrote the book on business management for NASA. In addition, Aphelion announced that Geoff Brim, former VP of Product Management at Deutsche Telekom had joined their board of advisors. Mr. Brim evangelized digital transformation, data science, artificial intelligence, and robotics at Deutsche Telekom.
Now come Aphelion's visionary investors. Ben West of The Mercury Group is a US Air Force veteran. Before his years in finance, Ben was an F117A and F16 Crew Chief. He is well aware that military fighter jets use hydrazine in their emergency power units. He knows very well that hydrazine is extremely toxic and thus costly and slow to deal with. He is also aware that other uses of hydrazine include spacecraft propulsion. Hearing that Aphelion had developed a propulsion technology that could essentially replace anything hydrazine powered was music to his ears. Ben feels excited to back Aphelion with investment and plans to continue supporting Aphelion along its journey to bring this new technology to market.
Steven Williams, of Founder Advisors advises Aphelion on market strategy. Along with Steven, the Founder Advisors team provides corporate and business strategy advisory to Aphelion. They are composed of accomplished aerospace and tech entrepreneurs and executives like Steven. Some have spent years in launch vehicle development at companies such as Lockheed Martin. These guys truly understand and value the business model that Aphelion is structuring for bundled small satellite integration and launch services.
James Graham, CEO of Richtr Financial Studio, is an ardent supporter of Aphelion's possibilities. Richtr Financial Studio supports Aphelion with financial and accounting services. They are a powerhouse for startups that are poised for exponential growth.
For more information about Aphelion Aerospace, please visit: https://aphelionaerospace.com
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https://www.wibw.com/prnewswire/2022/03/31/aridis-pharmaceuticals-announces-2021-fourth-quarter-year-end-financial-results-business-update/
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Awarded funding from the Gates Foundation to support development of inhaled formulation technology to deliver cost-effective monoclonal antibodies against influenza and COVID-19
LOS GATOS, Calif., March 31, 2022 /PRNewswire/ -- Aridis Pharmaceuticals, Inc. (Nasdaq: ARDS), a biopharmaceutical company focused on the discovery and development of novel anti-infective therapies to treat life-threatening infections, today reported financial and corporate results for its fourth quarter and year ended December 31, 2021.
Fourth Quarter Highlights
- Continued enrollment in the Company's Phase 2a study of AR-501 targeting cystic fibrosis (CF), conducted in collaboration with the funding support from the CF Foundation. Aridis is on track to report top-line data from this CF study in mid-2022.
- Continued enrollment in the Company's Phase 3 study evaluating AR-301 for the treatment of Ventilator Associated Pneumonia (VAP). Aridis is on track to report top-line data in the second half of 2022.
- The Company is on track to initiate the Phase 3 trial of AR-320 for the prevention of VAP in mid-2022 following regulatory feedback on the clinical development plans and Phase 3 study design received from the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA). Clarity on the regulatory pathway to the registrational Phase 3 trial and licensure has been achieved. The Phase 3 SAATELLITE-2 study will be conducted in collaboration with the COMBACTE-Net consortium of HAP/VAP experts, funded up to 25 million Euros by the Innovative Medicines Initiative (IMI) program of the European Commission.
- Reported preclinical data demonstrating that AR-701, the Company's first fully human monoclonal antibody (mAb) cocktail, is broadly reactive against the Omicron and other SARS-CoV-2 (COVID-19) variants, SARS (Severe Acute Respiratory Syndrome), MERS (Middle East Respiratory Syndrome Coronavirus), and multiple seasonal ('common cold') human coronavirus strains.
- In January 2022, Aridis announced that it had received a $1.9 million grant from the Bill and Melinda Gates Foundation (Gates Foundation) to evaluate the application of the Company's inhaled formulation technology to deliver cost-effective monoclonal antibodies (mAbs) against influenza and SARS-CoV-2 to people in low- and middle-income countries.
- Signed loan agreement for $10 million in non-dilutive financing with Streeterville Capital. Received first $5 million payment in November 2021 and the second $5 million payment in February 2022.
"I am proud of our team's work in 2021 as we strengthened our foundation and advanced key development programs," commented Vu Truong, Ph.D., Chief Executive Officer of Aridis Pharmaceuticals. "2022 will be a pivotal year for Aridis as we achieve important clinical milestones, including data readout from our AR-501 Phase 2a and AR-301 Phase 3 studies as well as the initiation of the AR-320 registrational Phase 3 study, and the anticipated launch of the first-in-human clinical study of AR-701. We look forward to sharing further updates on the progress of these programs in the coming months as we continue to build our leadership in the respiratory health space."
Clinical Program Update
AR-301 (tosatoxumab): AR-301 is being evaluated in a Phase 3 clinical study as an adjunctive treatment to standard of care antibiotics in S. aureus VAP patients. The ongoing AR-301 Phase 3 study remains blinded, and the independent Data Monitoring Committee with access to unblinded data continues to monitor study subjects for safety and has not expressed any safety concerns. The Company observed modest improvement in enrollment in recent months despite the continued pandemic. However, because a significant number of participating clinical sites in the study are in Eastern Europe, the escalating Ukraine-Russia conflict is expected to negatively impact enrollment. At the present time, the company anticipates reporting top-line data in the second half of 2022.
The trial represents the first ever Phase 3 superiority clinical study evaluating immunotherapy with a fully human mAb to treat acute pneumonia in the ICU setting. Details of the study can be viewed on www.clinicaltrials.gov using identifier NCT03816956.
AR-320 (suvratoxumab): The Company licensed this Phase 3-ready asset from AstraZeneca in July 2021. A multinational, randomized, double-blind, placebo-controlled Phase 2 study (n=196 patients) showed that mechanically ventilated ICU patients colonized with S. aureus who were treated with suvratoxumab, a fully human mAb, demonstrated a relative risk reduction in onset of pneumonia by 32% in the overall intent-to-treat (ITT) study population, and by a statistically significant 47% in the under 65-year-old population, which is the target population in the planned Phase 3 study. This statistically significant relative risk reduction in the target population was also associated with a substantial reduction in the duration of care needed in the ICU and hospital. The Company completed successful discussions with the EMA via the Scientific Advisory meeting and the FDA via an End-of-Phase 2 meeting, including obtaining agreement on the planned Phase 3 study serving as a single pivotal trial. The regulatory feedback from these agencies is incorporated in the Company's clinical study design. The Company expects to launch its Phase 3 SAATELLITE-2 study of AR-320 in the mid-2022 in collaboration with the public-private COMBACTE-Net consortium of HAP/VAP experts, funded by the Innovative Medicines Initiative (IMI) program of the European Commission in the amount of up to 25 million Euros.
AR-501 (gallium citrate): The Company initiated its Phase 2a study to evaluate the safety, pharmacokinetic (PK), and preliminary efficacy in cystic fibrosis (CF) patients in the first quarter of 2021. The Phase 2a study is actively enrolling patients with a goal of delivering full data readout in mid-2022. AR-501 is being developed in collaboration with the CF Foundation and has been granted Orphan Drug Designation (ODD), Fast Track and Qualified Infectious Disease Product (QIDP) designations by the FDA. In addition, the European Medicines Agency (EMA) granted ODD to AR-501. The Phase 1/2a clinical trial underway is a randomized, double-blind, placebo-controlled trial, utilizing single- and multiple-ascending dose and dose-ranging strategies, investigating the safety and PK of inhaled AR-501 in healthy volunteers and CF patients with chronic bacterial lung infections. Details of the Phase 1/2a clinical trial can be viewed on https://www.clinicaltrials.gov using identifier NCT03669614.
AR-701: AR-701 is a cocktail of two fully human immunoglobulin G1 (IgG1) mAbs discovered from screening the antibody secreting B-cells of convalescent SARS-CoV-2 infected (COVID-19) patients. Each mAb of the AR-701 cocktail neutralizes coronaviruses using a distinct mechanism of action, namely inhibition of viral fusion and entry into human cells (AR-703) or blockage of viral binding to the human 'ACE2' receptor (AR-720). The AR-701 mAbs are engineered to be half-life extended and potentially active for 6-12 months in the blood. AR-701 is being developed as a long-acting intramuscular prophylactic to prevent COVID-19 infections, as well as a self-administered inhaled formulation for the treatment of COVID-19 patients who are not yet hospitalized. In February 2022, Aridis reported that both of its fully human mAbs in the AR-701 cocktail neutralized the SARS-CoV-2 Omicron variant. Moreover, both mAbs conferred strong protection against Omicron infected animals when given either parenterally or by intranasal administration. The performance of the AR-701 cocktail is published in Biorxiv [see https://www.biorxiv.org/content/10.1101/2022.03.05.483133v1]. We expect to initiate a Phase 1 clinical study in 2H2022.
Fiscal 2021 Financial Results:
- Cash: Total cash, cash equivalents and restricted cash as of December 31, 2021, were approximately $20.0 million.
- Revenues: Grant and licensing revenue increased to approximately $1.5 million for the year ended December 31, 2021 primarily due to the recognition of revenue from grants from the Cystic Fibrosis Foundation (CFF) and the Gates Foundation as well as from Kermode, an Apex technology licensee. Grant and licensing revenue earned during the year ended December 31, 2020 was approximately $1.0 million, all from CFF. Grant and licensing revenue was approximately $0.6 million and $0 for the three months ended December 31, 2021 and 2020, respectively.
- Research and Development Expenses: Research and development expenses increased by approximately $21.0 million to $38.0 million for year ended December 31, 2021 from $17.0 million for the year ended December 31, 2020. The increase was due primarily to: an increase of approximately $11.5 million to in-license AR-320 rights from Medimmune; an increase of approximately $6.6 million for AR-320 drug manufacturing and clinical trial preparation costs; an increase of approximately $0.7 million for costs associated with the development of AR-701; an increase of approximately $0.5 million for the continuing conduct of the Phase 2a clinical trial evaluating AR-501 for the treatment of Cystic Fibrosis and an increase of approximately $0.6 million in personnel, consulting and other related costs.
Research and development expenses increased by approximately $4.4 million in the quarter ended December 31, 2021 to $8.6 million from $4.2 million in the same quarter in 2020. This is primarily due to increases in drug manufacturing for our AR-320 trial ($2.8 million), spending on the Gates Foundation funded project ($0.5 million) and spending on personnel, consulting and other related costs ($0.4 million). - General and Administrative Expenses: General and administrative expenses increased by approximately $0.9 million to $7.3 million for the year ended December 31, 2021 from $6.4 million for the year ended December 31, 2020. The increase was due primarily to increases in professional service fees, franchise tax and recruitment expense to attract talent. General and administrative expenses increased in Q4 2021 to $2.0 million from $1.6 million in Q4 2020 primarily due to increases in consulting, legal fees, insurance and recruitment offset by lower accounting, rent and repairs expense.
- Interest Income (Expense) net: Net interest expense, increased by approximately $322,000 to approximately $245,000 for the year ended December 31, 2021 from approximately $77,000 net interest income for the year ended December 31, 2020. The increased expense was primarily due to our debt servicing in 2021.
- Share of Loss in Equity Method Investment. Loss from our share of equity method investment in Shenzhen Arimab Biopharmaceuticals Co., Ltd. decreased by approximately $9,000 to zero for the year ended December 31, 2021. The loss was $9,000 for the year ended December 31, 2020. Our share of loss from our minority interest calculated under the equity method was limited to the reduction of the net book value of the investment to zero as of March 31, 2020.
- Other Income: Other income in the year ended December 31, 2021, increased by approximately $796,000 from zero during the year ended December 31, 2020, primarily due to forgiveness of the $722,000 Paycheck Protection Program loan by the U.S. Small Business Administration. Additionally, other income from a sublease agreement we entered into with a tenant in March 2021 to sublet a small portion of our Los Gatos facility increased by approximately $74,000 during the year ended December 31, 2021, from zero for the year ended December 31, 2020. Other income increased by approximately $22,000 in Q4 2021. There was no sublease agreement or related income during the three months ended December 30, 2020.
- Net Loss: The net loss available to common stockholders for the year ended December 31, 2021, was approximately $47.3 million, or $3.85 net loss per share, compared to a net loss available to common stockholders of approximately $22.3 million, or $2.44 net loss per share, for the year ended December 31, 2020. The weighted average common shares outstanding used in computing net loss per share available to common stockholders was 12,291,600 million and 9,168,744 million for the years ended December 31 of 2021 and 2020, respectively.
About Aridis Pharmaceuticals, Inc.
Aridis Pharmaceuticals, Inc. discovers and develops anti-infectives to be used as first-line treatments to combat antimicrobial resistance (AMR) and viral pandemics. The Company is utilizing its proprietary ʎPEX and MabIgX® technology platforms to rapidly identify rare, potent antibody-producing B-cells from patients who have successfully overcome an infection, and to rapidly manufacture mAbs for therapeutic treatment of critical infections. These mAbs are already of human origin and functionally optimized by the natural human immune system for high potency. Hence, they are already fit-for-purpose and do not require further engineering optimization to achieve full functionality.
The Company has generated multiple clinical stage mAbs targeting bacteria that cause life-threatening infections such as ventilator associated pneumonia (VAP) and hospital acquired pneumonia (HAP), in addition to preclinical stage antibacterial and antiviral mAbs. The use of mAbs as anti-infective treatments represents an innovative therapeutic approach that harnesses the human immune system to fight infections and is designed to overcome the deficiencies associated with the current standard of care, which is broad spectrum antibiotics. Such deficiencies include, but are not limited to, increasing drug resistance, short duration of efficacy, disruption of the normal flora of the human microbiome and lack of differentiation among current treatments. The mAb portfolio is complemented by a non-antibiotic novel mechanism small molecule anti-infective candidate being developed to treat lung infections in cystic fibrosis patients. The Company's pipeline is highlighted below:
Aridis' Pipeline
AR-301 (VAP). AR-301 is a fully human IgG1 mAb currently in Phase 3 clinical development targeting gram-positive Staphylococcus aureus (S. aureus) alpha-toxin in VAP patients.
AR-320 (nosocomial pneumonia). AR-320 is a fully human mAb targeting S. aureus alpha-toxin for prevention of nosocomial pneumonia. Statistically significant Phase 2 data in the target population of those ≤ 65 years of age, was recently published in Lancet Infectious Diseases journal. The Company has completed discussions with the EMA and FDA on study design and expects to launch its Phase 3 study of AR-320 in mid-2022.
AR-101 (HAP). AR-101 is a fully human immunoglobulin M (IgM) mAb in Phase 2 clinical development targeting Pseudomonas aeruginosa (P. aeruginosa) liposaccharides serotype O11, which accounts for approximately 22% of all P. aeruginosa hospital acquired pneumonia cases worldwide. This program is licensed to the Serum Institute of India and Shenzhen Arimab.
AR-501 (cystic fibrosis). AR-501 is an inhaled formulation of gallium citrate with broad-spectrum anti-infective activity being developed to treat chronic lung infections in cystic fibrosis patients. This program is currently in a Phase 2a clinical study in CF patients.
AR-701 (COVID-19). AR-701 is a cocktail of fully human mAbs discovered from convalescent COVID-19 patients that are directed at multiple envelope proteins of the SARS-CoV-2 virus.
AR-401 (blood stream infections). AR-401 is a fully human mAb preclinical program aimed at treating infections caused by gram-negative Acinetobacter baumannii.
AR-201 (RSV infection). AR-201 is a fully human IgG1 mAb directed against the F-protein of diverse clinical isolates of respiratory syncytial virus (RSV). This program is licensed exclusively to the Serum Institute of India.
For additional information on Aridis Pharmaceuticals, please visit https://aridispharma.com/.
Forward-Looking Statements
Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties. These statements may be identified by the use of words such as "anticipate," "believe," "forecast," "estimated" and "intend" or other similar terms or expressions that concern Aridis' expectations, strategy, plans or intentions. These forward-looking statements are based on Aridis' current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, the need for additional financing, the timing of regulatory submissions, Aridis' ability to obtain and maintain regulatory approval of its existing product candidates and any other product candidates it may develop, approvals for clinical trials may be delayed or withheld by regulatory agencies, risks relating to the timing and costs of clinical trials, risks associated with obtaining funding from third parties, management and employee operations and execution risks, loss of key personnel, competition, risks related to market acceptance of products, intellectual property risks, risks related to business interruptions, including the outbreak of COVID-19 coronavirus, which could seriously harm our financial condition and increase our costs and expenses, risks associated with the uncertainty of future financial results, Aridis' ability to attract collaborators and partners and risks associated with Aridis' reliance on third party organizations. While the list of factors presented here is 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. Actual results could differ materially from those described or implied by such forward-looking statements as a result of various important factors, including, without limitation, market conditions and the factors described under the caption "Risk Factors" in Aridis' 10-K for the year ended December 31, 2020, and Aridis' other filings made with the Securities and Exchange Commission. Forward-looking statements included herein are made as of the date hereof, and Aridis does not undertake any obligation to update publicly such statements to reflect subsequent events or circumstances.
Contact:
Investor Relations
Dave Gentry, CEO
RedChip Companies
Dave@redchip.com
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https://www.wibw.com/prnewswire/2022/03/31/arixa-capital-hires-eric-cooper-vice-president-construction/
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LOS ANGELES, March 31, 2022 /PRNewswire/ -- Arixa Capital Advisors, LLC is pleased to announce that Eric Cooper has joined the company as Vice President of Construction. In this role, Mr. Cooper is responsible for enhancing Arixa's construction risk management, through further development of Arixa's funds control program and construction underwriting, as well as building the scalable infrastructure that will allow Arixa to continue to grow its construction lending platform. Mr. Cooper comes to Arixa with over a decade of onsite construction project management experience and five years of construction lending experience.
Prior to joining Arixa, Mr. Cooper was the Vice President of Construction Operations at Genesis Capital. During his five years with that company, he oversaw the development of a nationwide residential construction underwriting program and was responsible for managing the in-house funds control team.
Eric Cooper shares, "As I suspected, Arixa Capital has an incredible culture, talented staff and a fantastic borrower base. I feel lucky and excited to further build out the construction department to best serve both borrowers and investors."
Earlier in his career, Mr. Cooper was the onsite supervisor and project manager for a two-year project, building an ultra-luxury custom home for a celebrity client in the Trousdale Estates neighborhood of Beverly Hills, with the highly regarded general contractor Corbin Reeves. From 2013 to 2015, Mr. Cooper was a project manager for ANR Industries, where he oversaw all aspects of luxury single-family residential construction projects in the Los Angeles area, from conceptual design through final sale. From 2010 to 2013, Mr. Cooper worked as a project manager for Anchor Loans where he oversaw all aspects of remodeling for single-family residential projects with resale values between $700,000 and $3,000,000.
Arixa Capital's Managing Director, Greg Hebner, said, "We are excited to bring someone like Eric onto the Arixa team. Eric's deep construction experience and his passion for client service is an ideal fit for our team. As Arixa continues to grow its lending business across larger construction projects and new geographies, Eric's extensive industry knowledge will allow us to execute on our growth plans and maintain the high level of service that our clients expect, while also mitigating risk for our fund investors."
Contact:
Eric Cooper
Vice President, Construction Operations
M 818-692-9646
E ecooper@arixacapital.com
About the Company
Arixa Capital is one of the premier private real estate lenders and credit fund managers in the Western U.S., providing small balance loan solutions to lower middle-market residential and commercial investors and developers. Visit www.arixacapital.com for more information on investing or borrowing.
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https://www.wibw.com/prnewswire/2022/03/31/bmo-led-sustainability-social-bonds-recognized-by-environmental-finances-2022-bond-awards/
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- City of Toronto Social Bond wins Social Bond of the Year, Local Authority/Municipality category – BMO Joint-Lead Manager
- World Bank Sustainability Bond wins Sustainability Bond of the Year, Supranational category – BMO Joint-Lead Manager
- City of Vancouver Sustainability Bond wins Sustainability Bond of the Year, Local Authority/Municipality category – BMO Joint Bookrunner
TORONTO, March 31, 2022 /PRNewswire/ - The City of Toronto Social Bond, the World Bank Sustainability Bond, and the City of Vancouver Sustainability Bond were recognized today by Environmental Finance's 2022 Bond Awards in the categories of Social Bond of the Year – Local Authority/Municipality, Sustainability Bond of the Year – Supranational, and Sustainability Bond of the Year – Local Authority/Municipality. BMO Financial Group (BMO) acted as Joint-Lead Manager on the City of Toronto and World Bank bond issuances, and Joint Bookrunner on the City of Vancouver Sustainability Bond issuance.
The City of Toronto's Social Bond is the city's second Social Bond, following on their inaugural issue in June 2020 – the first-ever Social Bond from a Canadian Government issuer – which BMO also led. The Social Bond, issued under Toronto's Social Debenture Framework, is part of a program to promote positive socioeconomic outcomes, from affordable housing and access to essential infrastructure and services, to socioeconomic advancement and empowerment.
The World Bank Sustainability Bond is an $8 billion 2-year and 7-year Dual-Tranche Fixed-Rate Global Sustainability Bond launched in April 2021. The World Bank has been issuing sustainable development bonds in the international capital markets for over 70 years to fund programs and activities that achieve a positive impact. BMO is proud to be a joint lead-manager on this issuance. World Bank bonds are aligned with the Sustainability Bond Guidelines published by the International Capital Market Association and support the financing of a combination of green and social projects, programs, and activities.
The inaugural City of Vancouver Sustainability Bond was the first Sustainability Bond from a Canadian governmental issuer. Proceeds of the bond are supporting eligible projects such as green buildings, renewal and upgrade of the main sewer and a fire hall, street and bridge infrastructure, an accessibility program to provide access to essential services, a climate emergency response program and a seawall maintenance program.
"As Joint-Lead Manager we're pleased with the recognition the City of Toronto Social Bond, the World Bank Sustainability Bond, and the City of Vancouver Sustainability Bond have received from Environmental Finance," said Jonathan Hackett, Head, BMO Sustainable Finance. "These transactions are leading examples in sustainable financing that we believe will act as a catalyst to others as they explore social and sustainability labeled financing and BMO is excited to be a leader working with our clients in this space -- one that so closely aligns with our Purpose to Boldly Grow the Good, in business and life."
BMO is a recognized sustainability leader
Carbon neutral in its own operations since 2010, BMO announced its Climate Ambition in March 2021 with a commitment to deploy $300 billion in sustainable lending and underwriting to companies pursuing sustainable outcomes by 2025. BMO is focused on being its clients' lead partner in their transition to a net zero world and, since December 2019, has completed green and sustainability-linked loans for companies in a range of sectors, with targets including decarbonization, diversity & inclusion, and health and safety. To support clients' pursuit of opportunities driven by the increasing momentum of the global economy's shift in production and consumption of energy, in 2021 BMO established a dedicated Energy Transition Group and the BMO Climate Institute.
BMO's leadership on sustainability has been recognized by the Wall Street Journal's 100 Most Sustainably Managed Companies in the World, Corporate Knights' Global 100 Most Sustainable Corporations, Dow Jones Sustainability Indices World Index, and Ethisphere Institute's list of the World's Most Ethical Companies.
For more information on BMO's commitment to a sustainable future, please visit the bank's latest Sustainability Report. To learn more about sustainable finance at BMO click here. For BMO's climate ambition, visit its Climate page.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $1.02 trillion as of January 31, 2022, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
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https://www.wibw.com/prnewswire/2022/03/31/conrad-industries-announces-2021-results-backlog/
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MORGAN CITY, La., March 31, 2022 /PRNewswire/ -- Conrad Industries, Inc. (OTC Pink: CNRD) today announced its 2021 results and backlog.
The Company had net income of $6.5 million and earnings per diluted share of $1.29 for the twelve months ended December 31, 2021 compared to net loss of $4.0 million and loss per diluted share of $0.80 for the twelve months ended December 31, 2020. Net income for 2021 includes other income related to Payment Protection Plan loan forgiveness and Employee Retention Credit. The Company's financial reports are available at www.otcmarkets.com.
Our backlog as of December 31, 2021 was $148.5 million, compared to $183.7 million at December 31, 2020, and $79.2 million at December 31, 2019.
Johnny Conrad, Chairman and CEO stated, "Our results for 2021 reflect a continued challenging operating environment. The improving but uneven pace of pandemic recovery in 2021 was accompanied by sharp increases in steel prices, inflationary price increases in other materials and equipment, supply chain disruptions and a tight labor market."
Mr. Conrad continued, "Although we face substantial uncertainties in our markets, we believe we are well-positioned to take advantage of opportunities when market fundamentals improve. We believe customers have delayed orders due to high steel prices and pandemic uncertainties, and that some of these orders will move forward when steel prices decline or our customers' business opportunities or fleet replacement needs require the vessels. We have seen a continued strong market for dredging and other infrastructure-related vessels, which we expect may continue, supported by the Infrastructure Investment and Jobs Act enacted in 2021. We are also optimistic about opportunities in our repair and conversions segment."
Mr. Conrad concluded, "We are optimistic about our long-term prospects including the recent award of a contract by the U.S. Navy for the design and construction of a Yard, Repair, Berthing and Messing ("YRBM") barge, with options for an additional seven barges. This contract along with the infrastructure and repair markets are encouraging signs for the future of our business."
Conrad Industries, Inc., established in 1948 and headquartered in Morgan City, Louisiana, designs, builds and overhauls tugboats, ferries, liftboats, barges, offshore supply vessels and other steel products for both the commercial and government markets. The company provides both repair and new construction services at its five shipyards located in southern Louisiana and Texas.
Cautionary statement: This press release contains forward-looking statements, which are all statements other than those of historical facts, and reflect our expectations as of the date of this press release about future events. Forward-looking statements are subject to risks and uncertainties, including risks and uncertainties related to the COVID-19 pandemic, current high steel prices and constrained availability, competition, our reliance on cyclical industries, ability to perform contracts at costs consistent with estimated costs utilized in bidding, and ability to replenish our backlog and compete in changing markets. These and other risks are discussed in more detail in our Annual Report and subsequent reports available on www.otcmarkets.com. Should one or more of these risks materialize, achievement of anticipated results may differ materially from those anticipated. We do not intend to update these forward-looking statements, other than through our regular quarterly and annual reports.
For Information Contact:
Cecil A. Hernandez (985) 702-0195
CAHernandez@ConradIndustries.com
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SOURCE Conrad Industries, Inc.
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https://www.wibw.com/prnewswire/2022/03/31/escalade-announces-first-quarter-2022-results-conference-call-date/
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EVANSVILLE, Ind., March 31, 2022 /PRNewswire/ -- Escalade, Inc. (NASDAQ: ESCA, or the "Company"), a leading manufacturer and distributor of sporting goods and indoor/outdoor recreational equipment, today announced that it will issue first quarter 2022 results before the market opens on Thursday, April 14, 2022.
A conference call will be held Thursday, April 14, 2022, at 11:00 a.m. ET to review the Company's financial results, discuss recent events and conduct a question-and-answer session.
A webcast of the conference call and accompanying presentation materials will be available in the Investor Relations section of Escalade's website at www.escaladeinc.com. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download, and install any necessary audio software.
ABOUT ESCALADE
Founded in 1922, and headquartered in Evansville, Indiana, Escalade designs, manufactures, and sells sporting goods, fitness, and indoor/outdoor recreation equipment. Our mission is to connect family and friends creating lasting memories. Leaders in our respective categories, Escalade's brands include Bear® Archery; STIGA® table tennis; Accudart®; RAVE Sports®; Victory Tailgate®; Onix® Pickleball; Goalrilla™; Lifeline® fitness products; Woodplay®; Brunswick Billiards®. Escalade's products are available online and at leading retailers nationwide. For more information, visit www.escaladeinc.com
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements relating to present or future trends or factors that are subject to risks and uncertainties. These risks include, but are not limited to: specific and overall impacts of the COVID-19 global pandemic on Escalade's financial condition and results of operations; the impact of competitive products and pricing; product demand and market acceptance; new product development; Escalade's ability to achieve its business objectives, especially with respect to its Sporting Goods business on which it has chosen to focus; Escalade's ability to successfully achieve the anticipated results of strategic transactions, including the integration of the operations of acquired assets and businesses and of divestitures or discontinuances of certain operations, assets, brands, and products; the continuation and development of key customer, supplier, licensing and other business relationships; Escalade's ability to develop and implement our own direct to consumer e-commerce distribution channel; Escalade's ability to successfully negotiate the shifting retail environment and changes in consumer buying habits; the financial health of our customers; disruptions or delays in our business operations, including without limitation disruptions or delays in our supply chain, arising from political unrest, war, labor strikes, natural disasters, public health crises such as the coronavirus pandemic, and other events and circumstances beyond our control; Escalade's ability to control costs; Escalade's ability to successfully implement actions to lessen the potential impacts of tariffs and other trade restrictions applicable to our products and raw materials, including impacts on the costs of producing our goods, importing products and materials into our markets for sale, and on the pricing of our products; general economic conditions; fluctuation in operating results; changes in foreign currency exchange rates; changes in the securities markets; continued listing of the Company's common stock on the NASDAQ Global Market and/or inclusion in market indices such as the Russell 2000; Escalade's ability to obtain financing and to maintain compliance with the terms of such financing; the availability, integration and effective operation of information systems and other technology, and the potential interruption of such systems or technology; risks related to data security of privacy breaches; and other risks detailed from time to time in Escalade's filings with the Securities and Exchange Commission. Escalade's future financial performance could differ materially from the expectations of management contained herein. Escalade undertakes no obligation to release revisions to these forward-looking statements after the date of this press release.
INVESTOR RELATIONS CONTACT
Patrick Griffin
Vice President - Corporate Development & Investor Relations
812-467-1358
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https://www.wibw.com/prnewswire/2022/03/31/extra-space-storage-inc-announces-date-earnings-release-conference-call-discuss-1st-quarter-2022-results/
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SALT LAKE CITY, March 31, 2022 /PRNewswire/ -- Extra Space Storage Inc. (the "Company") (NYSE: EXR) announced today it will release financial results for the three months ended March 31, 2022 on Tuesday, May 3, 2022 after the market closes. The Company will host a conference call at 1:00 p.m. Eastern Time on Wednesday, May 4, 2022 to discuss its financial results. Hosting the call will be Extra Space Storage's CEO, Joe Margolis. Joining him will be Scott Stubbs, Executive Vice President and CFO.
During the conference call, company officers will review operating performance, discuss recent events, and conduct a question-and-answer period. The question-and-answer period will be limited to registered financial analysts. All other participants will have listen-only capability.
The playback can be accessed beginning on May 4, 2022 at 4:00 p.m. ET through May 11, 2022 at 4:00 p.m. ET.
The conference call will also be available on the Company's website under Investor Relations at www.extraspace.com. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software. A replay of the call will also be available for 30 days on the Company's website.
Full Text of the Earnings Report and Supplemental Data
The full text of the earnings report and supplemental data will be available at the Company's website at http://ir.extraspace.com immediately following the earnings release to the wire services after the market close on Tuesday, May 3, 2022.
For those without Internet access, the earnings release will be available by mail or fax, on request. To receive a copy, please call Extra Space Storage Investor Relations at (801) 365-1759.
About Extra Space Storage Inc.
Extra Space Storage Inc., headquartered in Salt Lake City, is a fully integrated, self-administered and self-managed real estate investment trust, and a member of the S&P 500. As of December 31, 2021, the Company owned and/or operated 2,096 self-storage properties, which comprise approximately 1.5 million units and approximately 160.9 million square feet of rentable storage space offering customers conveniently located and secure storage units across the country, including boat storage, RV storage and business storage. The Company is the second largest owner and/or operator of self-storage properties in the United States and is the largest self-storage management company in the United States.
For more information, please visit www.extraspace.com.
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https://www.wibw.com/prnewswire/2022/03/31/fresh-vine-wine-announces-fourth-quarter-full-year-2021-financial-results/
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December 2021 IPO Provides Capital to Accelerate Growth Strategy
2021 Revenues Increase 681% While Fourth Quarter Revenues Grew 19% Sequentially Compared to the Third Quarter, Reflecting an Acceleration in Momentum and an Inflection Point in the Company's Growth Trajectory – With Most Growth Occurring Prior to IPO Funding
IPO Proceeds Deployed to Grow the Brand, Increase Awareness, and Procure Inventory to Sustain Strong Sequential Momentum in 2022
Over 1,000 New Points of Distribution Added in First Quarter, More Than All of Last Year
Celebrities Nina Dobrev and Julianne Hough, Initial and Ongoing Investors, Continue to Enthusiastically Endorse FVW Celebrating Partners and Product Launches Among Their More Than 30 Million Social Media Followers
MINNEAPOLIS, March 31, 2022 /PRNewswire/ -- Fresh Vine Wine, Inc. (NYSE American: VINE), the premier producer of premium lower carb, lower sugar, and lower calorie wines in the United States, today reported strong financial results for the three months and fiscal year ended December 31, 2021, including year-over-year annual revenue growth of 681% from $217 thousand in 2020 to $1.700 million in 2021.
Janelle Anderson, CEO of Fresh Vine Wine, Inc., said, "I am extremely proud of our team, which grew the business both for the year and sequentially in the fourth quarter by executing on extremely aggressive marketing and go-to-market strategy, while concurrently completing our IPO. This reflects an inflection in the company's growth trajectory and is indicative of the results we expect this year. We have already put the IPO proceeds to work building our brand, investing in our people, and procuring inventory. In the first quarter of 2022, we added over 1,000 new points of distribution (PODs), which is more than twice the 900 PODs we had at time of IPO. We believe that this leading indicator, coupled with our increased inventory levels, suggest accelerating revenue growth and strong first quarter results."
Ms. Anderson continued, "The speed of our expansion is remarkable, which speaks to the quality of our sales and marketing strategy and the pedigree of our organization. Our success reinforces the viability of consumer demand for our category-defining, premium tasting brand of lower carb, lower sugar, lower calorie wines. We plan to continue this positive trajectory in 2022 by introducing new product offerings and expanding our marketing efforts, in part by leveraging the 30 million-plus social media followers of our celebrity spokespeople and co-founders, Nina Dobrev and Julianne Hough. It is encouraging and rewarding to begin this year with significant positive momentum."
Recent Business Highlights
- In December 2021, the Company closed its Initial Public Offering, raising net proceeds of $19.2 million
- Added 1,000 Points of Distribution in the first quarter
Retail
- Launched in our first national "C-Store" where we have been authorized at their more than 1,600 California locations
- Securing a top national convenience store chain to carry our wines in the state of California is a true breakthrough for Fresh Vine Wine and further validates the demand for our lower carb, lower calorie, lower sugar premium wines
- Secured placement at the newest resort on the Famous Las Vegas Strip
- FVW wines premium Cabernet Sauvignon, Chardonnay and other varietals will be featured at 22 various venues at the newly launched Resorts World Las Vegas
- Expanded partnership with retail grocer, Hy-Vee, for the distribution of our premium Limited Reserve Napa Cabernet
- To be featured at all Hy-Vee stores in the Upper Midwest
- Announced a partnership with CRAVE American Kitchen & Sushi Bar
- Featured as a premium wine pairing and frequently recommended as the perfect complement to their special lunch and dinner menus
Geographic Expansion
- Expanded into 6 new states in the first quarter of 2022, including Nevada coincident with the Resorts World launch
- FVW now available nationwide, one of the Company's key strategic priorities.
Direct to Consumer
- Experienced record-breaking single day sales on two separate occasions, reflecting the impact of our social media marketing strategy
- Record demand after major shareholders Nina Dobrev and Julianne Hough appeared across national media following VINE IPO day and then again after their appearance on The Ellen Show https://bit.ly/36VuRd4. Expect more exciting appearances representing Fresh Vine Wine by these highly influential celebrities
New Product Release
- Released a fifth varietal, a Limited Reserve Napa Cabernet Sauvignon
- The introduction of this premium wine represents further progress in our business objectives to leverage our presence at retail to increase distribution and fuel future growth.
- Announced the bottling of our 2021 Vintage Rosé at 21 times the quantity of 2020 Rosé bottled
- After selling out the entire 2020 Rosé Vintage within months of bottling, now bottling the 2021 Vintage Rosé at 21 times the amount of Rosé bottled for the 2020 vintage.
Fourth Quarter and Fiscal Year 2021 Financial Results and Commentary
Net revenue in fiscal 2021 was $1.70 million, up from $217,000 in fiscal 2020. Growth was primarily attributable to our increased presence in the wholesale market, where we significantly expanded our distributor network and geographic presence, and the introduction of our wine club, which drove direct-to-consumer sales. Of total 2021 revenue, $773,000 was from our wholesale distribution channel and $774,000 was from our direct-to-consumer sales channel. As fourth quarter revenues were affected by an inventory drawdown precipitated by very strong demand, the Company used this period to accelerate the timing of the launch of its Strategic Services segment, which netted over $150,000 of revenue in the quarter, and is expected to continue quarterly in fiscal 2022. Selling, general and administrative expenses were $4.79 million for the fiscal year ended December 31, 2021, compared to $1.33 million for the fiscal year ended December 31, 2020, largely driven by increases in Selling, Marketing and General & Administrative expenses. The year-over-year increase in Marketing expenses primarily resulted from our sports marketing partnerships while the increase in General & Administrative expenses is the result of increased salaries and wages needed to support the growth in sales. Selling expenses generally follow our sales volume growth. The Company reported a net loss of $9.97 million, or ($1.12) per share, for fiscal 2021, compared to a net loss of $1.29 million, or ($0.21) per share in fiscal 2020.
Liquidity and Capital Resources
- The Company's cash and cash equivalents balance as of December 31, 2021, was $16.1 million. The Company has no material debt.
About Fresh Vine Wine, Inc.
Fresh Vine Wine, Inc. (NYSE American: VINE) is a premier producer of lower carb, lower calorie premium wines in the United States, kicking off a 2022 growth plan following its IPO in mid-December 2021. Fresh Vine Wine's brand vision is to lead the emerging natural and accessible premium wine category, as health trends continue to accelerate in the US marketplace. The 2020 US wine market was a $69 billion category. Fresh Vine Wine plans to accelerate growth in 2022 by amplifying its marketing, expanding product offerings, and expanding its team. Fresh Vine Wine positions its core brand lineup as an affordable luxury, retailing between $14.99-$22.99. Fresh Vine Wine's varietals currently include its Cabernet Sauvignon, Chardonnay, Pinot Noir, and Rosé.
Forward-Looking Statements
This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. These forward-looking statements address various matters including statements regarding the timing or nature of future operating or financial performance or other events. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company's ability to hire additional personnel and to manage the growth of its business; the Company's reliance on its brand name, reputation and product quality; the Company's ability to adequately address increased demands that may be placed on its management, operational and production capabilities; the effectiveness of the Company's advertising and promotional activities and investments; the Company's reliance on celebrities to endorse its wines and market its brand; general competitive conditions; fluctuations in consumer demand for wine; overall decline in the health of the economy and consumer discretionary spending; the occurrence of adverse weather events, natural disasters, public health emergencies, or other unforeseen circumstances that may cause delays to or interruptions in the Company's operations; risks associated with disruptions in the Company's supply chain for grapes and raw and processed materials; the impact of COVID-19 and its variants on the Company's customers, suppliers, business operations and financial results; disrupted or delayed service by the distributors the Company relies on for the distribution of its wines; the Company's ability to successfully execute its growth strategy; the Company's success in retaining or recruiting, or changes required in, its officers, key employees or directors; the Company's ability to protect its trademarks and other intellectual property rights; the Company's ability to comply with laws and regulations affecting its business, including those relating to the manufacture, sale and distribution of wine; claims, demands and lawsuits to which the Company may be subject and the risk that its insurance or indemnities coverage may not be sufficient; the Company's ability to operate, update or implement its IT systems; the Company's ability to successfully pursue strategic acquisitions and integrate acquired businesses; the Company's potential ability to obtain additional financing when and if needed; the Company's founders' significant influence over the Company; and the risks identified in the Company's other filings with the SEC. The Company cautions investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read the Company's filings with the SEC, available at www.sec.gov for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. The Company's business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
Contact: freshvinewine@jonesworks.com
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https://www.wibw.com/prnewswire/2022/03/31/frigo-cheese-heads-brand-awards-30000-winning-schools-its-8th-annual-build-bright-future-program/
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LINCOLNSHIRE, Ill., March 31, 2022 /PRNewswire/ -- Today, Frigo® Cheese Heads® announced the winning schools in its "Build a Bright Future" program, which is aimed at helping schools improve their learning experience and environment through funding for equipment, materials and renovations. Schools across the country had the opportunity to be nominated for the chance at a grand prize of $10,000, followed by 10 runner-up awards. The grand prize-winning school, Desert Star Elementary in Goodyear, Arizona, was revealed today during a morning student assembly that included a surprise visit and a check presentation from the Frigo® Cheese Heads® mascot.
During the period of August 2021 to October 2021, parents, teachers and other adults across the country were invited to submit a video or written nomination explaining why their school deserved to win. All entries were evaluated by a panel of judges for the overall quality of the nomination and the proposed benefit to the school's educational needs. A total of 945 nominations from K-8 schools nationwide were received this year. The judges then narrowed down the list to 11 finalists, and community members, school supporters and fans were invited to vote on social media to determine the grand prizewinner. Winning entries can be viewed at CheeseHeadsBrightFuture.com.
The runner-up schools receiving $2,000 each include:
- Angie Debo Elementary – Edmond, Oklahoma
- Atlantis Academy – Coral Springs, Florida
- Birdilee V. Bright Elementary School – Los Angeles
- Boulder Creek Elementary School – Boulder Creek, California
- Cambridge Elementary School – Jeffersonville, Vermont
- Dunham Elementary School – Petaluma, California
- Elmwood Elementary School – Baltimore
- Meadowlark Elementary School – Billings, Montana
- Valley Elementary School – Poway, California
- Woodland Hills Elementary – Woodland Hills, California
"Giving children the tools and environment to thrive in school starts with the little things like proper equipment, access to nutritious food and other needed supplies and upgrades to help the incredible teachers and school staff who guide their learning," said Saputo Dairy USA Vice President, Marketing and Innovation David Cherrie. "We are proud to support education through the Frigo® Cheese Heads® 'Build a Bright Future' program and look forward to seeing the impact this funding will have to benefit the schools, their teachers and their students."
"We are extremely proud of our community and the support we received during the voting period for the Frigo® Cheese Heads® Build a Bright Future program. Our students deserve the best and that is what we plan to do with our new lab — give them the best science experience so that they can grow as thinkers, problem-solvers and communicators," said Desert Star Principal Jessica Worthington.
Thank you to all who nominated their school or voted, and congratulations to the winning schools!
About Frigo® Cheese Heads®
Frigo® Cheese Heads® cheese is the creamy, delicious, stringy and fun on-the-go snack for both kids and adults. With everyday snacking options like regular or light string cheese, as well as cheese and meat combo packs, Frigo® Cheese Heads® brand products are a good source of calcium and protein in a convenient individually wrapped, enjoyable snack. Learn more at FrigoCheeseHeads.com.
About Saputo Dairy USA
Saputo Dairy USA is part of Saputo Inc., one of the top 10 dairy processors in the world. Through the Dairy Division (USA), Saputo produces, markets and distributes a vast assortment of cheeses. Furthermore, the company converts, markets and sells a broad range of specialty cheeses and holds an important portfolio of import licenses for specialty cheeses manufactured abroad. Saputo Dairy USA also produces a variety of dairy and non-dairy extended shelf-life products. Additionally, Saputo produces, markets and distributes dairy ingredients in the U.S. and on the international market. Products are sold under a variety of the company's brand names, as well as under customer brand names.
Saputo Dairy USA is among the top mozzarella, string cheese, domestic blue and goat cheese producers and is one of the largest producers of extended shelf-life and cultured dairy products in this region.
Media contact:
Samantha Liebhard
612-375-8579
samantha.liebhard@clynch.com
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https://www.wibw.com/prnewswire/2022/03/31/hallaron-advertising-agency-using-digital-ads-update-local-political-campaigns/
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THE WOODLANDS, Texas, March 31, 2022 /PRNewswire/ -- Hallaron, a full-service advertising and branding agency in The Woodlands, Texas has begun using digital advertising platforms to serve smaller, local political advertisers. The advantage is using microtargeted geographic and behavioral factors to serve highly custom display and video ads to local voters. The results point to more efficient campaigns that can get better results even with monthly ad spends less than $10,000.
Through a collaborative partnership with Vici Media Inc., based in Philiadelphia, PA, Hallaron began using sophisticated digital platforms including precise targeting tools to serve ads among local county and even city elections in early 2022 primaries. Often reserved for larger business or political clients, Hallaron uses the same big-client ad tools to shape strategy for smaller local low budget campaigns. Often the focus is replacing older marketing thinking with smarter targeting that serves ads to local voters using cell phones and social media instead of billboards or direct mail.
"Our new political campaigns aim to serve voters with ads where they consume daily news and entertainment – that's through their mobile phones and the Internet," explains agency principal Mike Hallaron.
Statista reports that mobile media usage in the United States is set to increase to four hours and 29 minutes per day in 2022. Compare that time with traditional drive time and radio listening, print, or TV viewership.
Because of lengthy Covid-19 shutdowns, Hallaron says many Americans extended their digital and mobile reliance even further – turning to these devices for business, shopping, and reaching the world beyond their front door.
Direct mail is still popular in most small market political races where access to new digital techniques lags behind. Inexpensive yard signs are still widely used but limited. Digital and mobile ads include links to landing pages where voters can watch a candidates videos, read a bio, or review her platform positions on local issues. "When you add a well-executed social strategy on Facebook, the frequency and reach for a small campaign can be game-changing," Hallaron says.
Hallaron's digital partner Vici Media works with nearly 200 ad agencies and media companies in the U.S., serving 3 billion digital ad impressions annually. The company was named to Deloitte's Technology Fast 500 in 2020. Hallaron sees more clients educating themselves about creative digital media strategies, such as geofencing, mobile conquesting and social mirroring techniques, for example.
Hallaron Advertising Agency is an award-winning full-service ad agency in The Woodlands, Texas. Since 2003, Hallaron has helped reshape winning brands and mastered creative advertising campaigns that lead to better sales and business growth for their clients. Visit www.hallaron.com to learn more.
Media contact:
Mike Hallaron
mike@hallaron.com
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https://www.wibw.com/prnewswire/2022/03/31/heritage-financial-announces-earnings-release-date-conference-call/
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OLYMPIA, Wash., March 31, 2022 /PRNewswire/ -- Heritage Financial Corporation ("Company" or "Heritage") (Nasdaq: HFWA) anticipates issuing its first quarter earnings release on Thursday, April 21, 2022 before the market opens. The Company has scheduled a telephone conference call to discuss the first quarter on Thursday, April 21, 2022 at 11:00 a.m. Pacific time (2:00 p.m. Eastern time).
To access the conference call, call the numbers listed below:
The conference call will be recorded and will be available following the live conference call for replay twenty-four hours a day ending April 28, 2022. Questions regarding the conference call may be directed to Kaylene Lahn at 360-943-1500.
About Heritage Financial
Heritage Financial Corporation is an Olympia-based bank holding company with Heritage Bank, a full-service commercial bank, as its sole wholly-owned banking subsidiary. Heritage Bank has a branching network of 49 banking offices in Washington and Oregon. Heritage Bank also does business under the Whidbey Island Bank name on Whidbey Island. Heritage's stock is traded on the NASDAQ Global Select Market under the symbol "HFWA". More information about Heritage Financial Corporation can be found on its website at www.hf-wa.com and more information about Heritage Bank can be found on its website at www.heritagebanknw.com.
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SOURCE Heritage Financial Corporation
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https://www.wibw.com/prnewswire/2022/03/31/hg-global-closes-new-150-million-credit-facility/
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HAMILTON, Bermuda, March 31, 2022 /PRNewswire/ -- White Mountains Insurance Group, Ltd. (NYSE: WTM) announced today that HG Global Ltd. ("HG") closed a new $150 million, 10-year term loan credit facility with Hudson Structured Capital Management Ltd, (conducting its re/insurance business as HSCM Bermuda) and Security Benefit Life Insurance Company. HG expects to receive the proceeds of the loan on or prior to May 31, 2022. A portion of the proceeds of the loan will be used to pay a $120 million dividend to White Mountains Insurance Group, Ltd. and the other equity holders of HG. The facility received an investment grade rating of BBB from Kroll Bond Rating Agency, LLC. The facility does not impact the reinsurance obligations of HG Re Ltd.
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.
Hudson Structured Capital Management Ltd., conducting its re/insurance investment management business as HSCM Bermuda ("HSCM"), is an asset manager focused on alternative investments seeking mezzanine level returns. HSCM focuses on the Re/Insurance and Transportation sectors. HSCM launched in 2016, and as of January 1, 2022 had more than $3 billion in assets under management and committed capital. HSCM focuses on core economic sectors that are likely to outgrow global GDP, offer low correlations with broader markets, and are experiencing a shift from balance sheet to market financing. For more information, please visit www.hscm.com.
Security Benefit Corporation ("Security Benefit"), through its subsidiary Security Benefit Life Insurance Company (SBL), a Kansas-based insurance company that has been in business for 130 years, is a leader in the U.S. retirement market. Security Benefit together with its affiliates offers products in a full range of retirement markets and wealth segments for employers and individuals and reached $50.5 billion in assets under management as of September 30, 2021. Security Benefit, an Eldridge business, is one of the fastest growing U.S. retirement companies and continues its mission of helping Americans To and Through Retirement®. Learn more at www.securitybenefit.com or www.eldridge.com.
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. All statements, other than statements of historical facts, included or referenced in this release which address activities, events or developments which White Mountains expects or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements include statements with respect to the funding of, or receipt of proceeds from, a loan and HG's payment of a dividend from the proceeds of such loan.
These statements are based on certain assumptions and analyses made by White Mountains in light of current conditions and expected future developments, as well as other factors believed to be appropriate in the circumstances. However, whether actual developments will conform to its expectations is subject to risks and uncertainties that could cause actual results to differ materially from expectations, including actions taken by ratings agencies, such as financial strength or credit ratings downgrades or placing ratings on negative watch; the continued availability of capital and financing; deterioration of general economic; changes in domestic or foreign laws or regulations, or their interpretation, applicable to White Mountains or HG, its competitors or its customers; and other factors, most of which are beyond White Mountains's 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 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.
CONTACT: Rob Seelig
(603) 640-2212
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SOURCE White Mountains Insurance Group, Ltd.
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https://www.wibw.com/prnewswire/2022/03/31/leith-grows-with-moore-county-opens-upgraded-expanded-honda-dealership-aberdeen/
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ABERDEEN, N.C., March 31, 2022 /PRNewswire/ -- The fast growth of Moore County, including Aberdeen, Pinehurst, and Southern Pines, caused a few growing pains for General Manager Scott Weaver and his team at Leith Honda Aberdeen, "The growth in Aberdeen is so great that we just outgrew our building. It was time." Last weekend, his team cut the ribbon and drove vehicles to their new, expanded facility adjacent to the original Leith Honda Aberdeen location on US 15-501.
The new building includes an expanded showroom giving customers a more relaxed environment to shop and explore the showcased inventory. Also, their waiting area has expanded for customers' comfort and includes business workstations for those who need to work while they wait.
Weaver and Service Manager Mark Posey are most excited about their new state-of-the-art service department. The new facility holds twice as many service bays as the former building, complete with new tire balancers, express bay lifts, and individual fluid and air filling stations.
"When we have to walk to the parts counter to get oil and washer fluid for our vehicles, it adds to the customer's wait time," said Posey. "Now we will have oil and washer fluid, water, light, and electrical reels right at our fingertips."
Even with a new building, the one thing that won't change is Leith's tradition to take the best care of their customers. Posey says that commitment is what has kept customers coming back for generations. "We've got people that we have retained since I've been here. I have worked on their mother's and grandmother's cars."
LeithCars.com is one of the largest automotive groups in North Carolina. A family business created in Raleigh, Leith Cars has been serving the Triangle community for over 50 years, incorporating over 1,900 North Carolinians into its family. The number one place to buy vehicles in the Raleigh metro area for five years running, according to a Marshall Marketing Survey, the auto dealer has 39 franchise locations throughout the state. For more information, visit www.leithcars.com.
Media Contact:
Lora Johnson
919-832-3232
lora.johnson@leithcars.com
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https://www.wibw.com/prnewswire/2022/03/31/lg-commits-150000-new-orleans-based-st-augustine-high-school/
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Establishes "LG Life's Good Endowed Scholarship Fund" and Contributes to Rebuild of Fire-Damaged Basketball Court and Other Technology Upgrades at the School
NEW ORLEANS, March 31, 2022 /PRNewswire/ -- As March Madness® and the Men's Final Four® reaches its crescendo in New Orleans, LG Electronics USA, an official NCAA® partner, announced today it has committed $150,000 in funding as well as product to St. Augustine High School, a New Orleans-based college preparatory school.
The pledge from LG will establish the "LG Life's Good Endowed Scholarship Fund" at the school as well as contribute to the rebuild of the school's flood and fire-damaged basketball court. LG is also supplying a range of products including LG OLED TVs for a new film room in its Health & Wellness Center, LG Washers & Dryers for a new laundry room and LG Air Purifiers for use throughout the school. The LG Life's Good Endowed Scholarship Fund, which will award its first recipient this year, is a need-based general award that all St. Augustine High School graduating seniors can apply for as long as they are going to attend an NCAA school.1
"As a proud partner of the NCAA, LG wanted to give back to the host city of the Men's Final Four and help inspire the next wave of student athletes in New Orleans," said Peggy Ang, Senior Vice President of Marketing at LG Electronics USA. "When our partners at the NCAA, Turner Sports and CBS Sports, brought to us the story of St. Augustine and the positive impact that school has in its community, we wanted to help them continue their tradition of inspiring students to succeed in the classroom and on the field of play."
"We are truly grateful for this inspiring commitment from LG," said Aulston Taylor, President & CEO at St. Augustine High School. "The St. Augustine community is thrilled that LG has decided to invest in the future of our students and our school. Our basketball court and Health & Wellness Center are a symbol of resiliency at St. Augustine, as it has emerged stronger after Hurricane Katrina, Hurricane Ida, and most recently a fire on Thanksgiving Day last year. With the help of friends like LG and many other supporters of our school, we are on the path to rebuilding our facility to its former glory. We will prevail!"
St. Augustine High School is an all-boys Catholic high school founded in 1951. Educating students primarily of predominantly African American backgrounds, the school serves as a training ground for leadership through academic excellence and moral values. It is also home to the world-renowned marching band, "Marching 100", which was the first high school band to march in the Rex Parade on Mardi Gras Day in 1967. The band has since played for eight U.S. Presidents, and performed at five Super Bowls, the Macy's Thanksgiving Day Parade in NYC, and the Tournament of Roses Parade in Pasadena, California. The band will perform at the halftime of this year's second Final Four game. To learn more about St. Augustine High School's fund raising efforts, please visit staugnola.org/lg
LG's commitment to St. Augustine High School arose as part of a three-year partnership with the NCAA, Turner Sports, and CBS Sports for category exclusive marketing and distribution rights to NCAA Championship competitions, including March Madness, that will expand the reach of college sports to legions of current fans and generations of new ones. LG's support of the NCAA Championships will include multiple initiatives to inspire fans and support student athletes including the recent launch of the NCAA Championships Channel (Channel 100), which will feature up to 50 NCAA Fall, Winter and Spring championships, both live and on-demand via LG's exclusive free streaming service, LG Channels. To learn more about LG's partnership with the NCAA visit LG.com/NCAA.
Editor's Note:
Video footage of the LG check presentation ceremony at St. Augustine High School available here.
Footnote:
1 LG will not be involved in selecting scholarship recipients. Selection of the scholarship recipients will be the sole responsibility St. Augustine High School. Eligibility for the scholarship is need-based and does not require participation in athletics as a prerequisite.
About LG Electronics USA
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $63 billion global innovator in technology and manufacturing. In the United States, LG sells a wide range of innovative home appliances, home entertainment products, commercial displays, air conditioning systems, energy solutions and vehicle components. LG is a seven-time ENERGY STAR® Partner of the Year. The company's commitment to environmental sustainability and its "Life's Good" marketing theme encompass how LG is dedicated to people's happiness by exceeding expectations today and tomorrow. www.LG.com.
About St. Augustine High School
St. Augustine High School is a college preparatory school for young men in grades 8-12 founded in 1951 by the Josephite priests and brothers. St. Augustine High School has built a legacy serving as the training ground for leadership through academic excellence, moral values, Christian responsibility, and reasonable, consistent discipline. In 71 years, it has graduated 9,200 men.
About the NCAA®
The NCAA is a diverse association of more than 1,000 member colleges and universities that prioritize academics, well-being and fairness to create greater opportunities for nearly half a million student-athletes each year. The NCAA provides a pathway to higher education and beyond for student-athletes pursuing academic goals and competing in NCAA sports. More than 54,000 student-athletes experience the pinnacle of intercollegiate athletics by competing in NCAA championships each year. Visit ncaa.org and ncaa.com for more details about the association and the corporate partnerships that support the NCAA and its student-athletes. NCAA, Men's Final Four, and March Madness are trademarks of the National Collegiate Athletic Association.
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https://www.wibw.com/prnewswire/2022/03/31/locally-owned-company-helps-community-again/
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FRESNO, Calif., March 31, 2022 /PRNewswire/ -- Well Done Moving, Inc. once again shows its appreciation for its local community by offering a moving discount to first responders.
Well Done Moving created this initiative to express appreciation for our local First Responders by offering discounted moving services for the month of April. Sales Director, Lindsey Beasley states, "The success we've experienced is directly attributed to the amazing people of our community. As a family-owned, Fresno-based company, we are proud to be able to give back to a community that has entrusted us with their valuables for over a decade".
First Responders can take advantage of this opportunity within the Fresno, Madera, Kings, and Tulare counties.
Well Done Moving strives to actively give back to the local community by creating and participating in philanthropic events such as Moving Neighbors in need, Assisting Creek Fire evacuees, and supporting Habitat for Humanity by moving residents into their new homes.
For more information regarding the First Responder discount, please visit our website.
About Well Done Moving:
WDM is committed to creating a culture where employees are appreciated and an extension of its family. The company offers competitive pay and starts its team members off above minimum wage. In addition, it offers PTO/sick time, and team members have the opportunity to earn up to five weeks of vacation. These policies and commitment to the community set Well Done Moving apart in the moving industry and helped it grow into one of Fresno's most trusted local companies.
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https://www.wibw.com/prnewswire/2022/03/31/mcloud-host-fourth-quarter-year-end-2021-financial-results-conference-call-1000am-edt-april-4-2022/
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CALGARY, AB, March 31, 2022 /PRNewswire/ - mCloud Technologies Corp. (NASDAQ: MCLD) (TSXV: MCLD), ("mCloud" or the "Company") a leading provider of AI-powered asset management and Environmental, Social, and Governance ("ESG") solutions, today announced it will host a conference call to discuss the financial results for the year-end and fourth quarter of 2021 and its outlook on 2022 at 10:00am EDT on April 4, 2022.
The conference call will include prepared remarks from Russ McMeekin, Chief Executive Officer, and Chantal Schutz, Chief Financial Officer. After the prepared remarks, the Company will accept questions.
This date and time follows from the Company's release on March 30 it would add a discussion of its recent partnership with Carbon Royalty Corp and Middle East strategic financing alternatives to prepared remarks.
To access the conference call by telephone, dial 416-764-8659 or 1-888-664-6392 with the confirmation number 74107253. Please connect approximately 10 minutes prior to the beginning of the call to ensure participation. The conference call will be archived for replay by telephone until April 11, 2022 at midnight (ET). To access the archived conference call, dial 1-888-390-0541 and enter the reservation number 107253.
A live audio webcast of the conference call will be available at https://bit.ly/3NvJvZs. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to join the webcast. The webcast will be archived at the above website for one year.
About mCloud Technologies Corp.
mCloud is unlocking the untapped potential of energy intensive assets with AI and analytics, curbing energy waste, maximizing energy production, and getting the most out of critical energy infrastructure. Through mCloud's AI-powered AssetCare™ platform, mCloud offers complete asset management solutions for commercial buildings, renewable energy, healthcare, heavy industry, and connected workers. IoT sensors bring data from connected assets into the cloud, where AI and analytics are applied to maximize their performance.
With a worldwide presence and offices in San Francisco, Vancouver, Calgary, London, Perth, Singapore, and Beijing, the mCloud family includes an ecosystem of operating subsidiaries that deliver high-performance IoT, AI, 3D, and mobile capabilities to customers, all integrated into AssetCare. With over 100 blue-chip customers and more than 63,000 assets connected in thousands of locations worldwide, mCloud is changing the way energy assets are managed.
mCloud's common shares trade in the United States on the Nasdaq and in Canada on the TSX Venture Exchange under the symbol MCLD. mCloud's convertible debentures trade on the TSX Venture Exchange under the symbol MCLD.DB. For more information, visit www.mcloudcorp.com.
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https://www.wibw.com/prnewswire/2022/03/31/mohr-capital-sells-65-million-deals-past-80-days/
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Deals combine to more than 292,000 square feet of medical industrial and office space, including the Crothall Healthcare industrial building in Gilroy, California
GILROY, Calif., March 31, 2022 /PRNewswire/ -- Mohr Capital, a Dallas-based privately held real estate investment firm, sold $65 million of deals over the past 80 days. This includes the recent sale of a 102,466-square-foot industrial building in Gilroy, California, to Four Springs Capital Trust. Mohr Capital sold two additional office buildings in Florida and Wisconsin, totaling more than 292,000 square feet of space, leading into 2022.
Located at 8190 Murray Ave., the property is fully leased to Crothall Healthcare. This mission-critical facility provides state-of-the-art laundry processing services to Northern California hospital systems, enabling them to continue providing medical care to patients. Kevin Moul with Colliers San Jose represented Mohr Capital throughout the transaction.
"We are pleased to have worked closely with Four Springs Capital Trust on this transaction. As our third transaction with Four Springs over the last 12 months, this transaction speaks to our deep partnership with Four Springs that we hope continues," said Rodrigo Godoi, managing director of investments for Mohr Capital. "Mission-critical facilities that serve regional hospitals like this still provide value in a market where occupiers and investors are redeveloping dysfunctional R&D product to suit their needs. We're pleased with the performance of this property, and we hope to continue to invest in the Bay Area's bustling industrial market in the future."
Additionally, Mohr sold a two-story, 78,449-square-foot office building in Orlando's Lee Vista Center business park to Falcon Global Real Estate Advisors. Located at 6272 Lee Vista Blvd., the building is fully leased to Accredo Health Group Inc., an Express Scripts company and subsidiary of the global health service company, Cigna. Prior to the sale, Mohr Capital worked with CBRE and CIGNA to secure CIGNA's long-term occupancy while at the same time lowering its occupancy costs.
Mohr also sold Riverwood Corporate Center II in Pewaukee, Wisconsin, in an off-market transaction to IRA Capital. The office building is fully occupied by ProHealth Care, the largest healthcare provider between Milwaukee and Madison. Shortly after acquiring the building, Mohr Capital worked closely with ProHealth to secure its long-term occupancy at the property through 2032.
"These three transactions support our trajectory to be a leading investor in mission-critical industrial and office facilities for the healthcare field," said Bob Mohr, founder and CEO of Mohr Capital. "We are always on the lookout for cutting-edge investment opportunities, and these sales were a great start to 2022."
About Mohr Capital
Mohr Capital is a privately held real estate investment firm specializing in the acquisition, development and value enhancement of office, industrial and retail assets throughout the U.S. The Mohr Capital team has decades of experience in commercial real estate and has completed more than $1 billion in transactions. Guided by a value-driven strategy and an entrepreneurial spirit, the company relies on strong long-term relationships and possesses keen market insights needed to capitalize on undervalued or underperforming properties. With its family office structure, Mohr Capital can close quickly and has a proven track record of delivering the highest risk-adjusted returns. For more information, visit www.mohrcap.com or follow Mohr Capital on LinkedIn.
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https://www.wibw.com/prnewswire/2022/03/31/new-california-rebate-enables-valley-air-conditioning-amp-repair-help-community-save-7000-ac-systems/
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FRESNO, Calif., March 31, 2022 /PRNewswire/ -- The State of California recently launched its TECH Clean California initiative which is a $120 million program funded by California gas corporations to implement low emissions space and water heating units for single and multifamily homes.
For some homeowners considering a new air conditioning system, this California rebate can save them up to $7,000. Unlike solar incentives that require the homeowner to apply for the incentive with the State of California after the system is installed, the homeowner realizes the savings upfront with the TECH Clean California Initiative. The HVAC company that installs the system is then required to apply for reimbursement with the State.
To qualify, an electric heating and cooling unit must be installed by an approved HVAC company. Simon DeLaCerda, General Manager of Valley Air Conditioning and Repair has been installing these systems upon the launch and states, "I am pleased to offer the opportunity, we've seen incredible savings for homeowners and urge other homeowners to take advantage of this amazing deal".
The Switch Is On, is an educational campaign that has been launched to promote the TECH initiative and the benefits of home electrification. Learn more about the campaign through their site.
About Valley Air Conditioning
Valley Air Conditioning has over 52 years of experience in commercial and residential heating and air conditioning services in Fresno and the surrounding areas. They have been able to set themselves apart by continuing to build upon the foundation Tobbie Hopper set when he first started business in 1970 as a one-man shop. Valley Air Conditioning & Repair, Inc's goals have remained the same; to earn the trust of our customers by offering expert advice, quality services based on honorable intentions, never rushing to meet sales goals or quotas. It's one simple philosophy but many things have set Valley Air Repair apart over the years. For more information, visit https://valleyairrepair.com/
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https://www.wibw.com/prnewswire/2022/03/31/olympus-joins-cool-kids-with-acquisition-omega/
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STAMFORD, Conn., March 31, 2022 /PRNewswire/ -- Stamford, CT based private equity firm Olympus Partners has acquired Omega Environmental Technologies ("Omega"), the market leading aftermarket distributor of climate control products and other mission-critical components across the light and heavy-duty automotive sectors, from AEA Investors, which will remain a minority equity investor and retain a board position in the Company. Omega serves thousands of customers globally across the wholesale distribution, OE service, and automotive retail channels. The Company is headquartered in Irving, Texas and has over 20 distribution centers across the United States and Canada.
"The replacement air conditioning market is very attractive, with steadily growing demand and high barriers to entry due to the technical nature and SKU intensity of the product. Omega is the leader in this category with a portfolio of powerful brands and complete end market coverage. We look forward to working with Peter, Randy, and the rest of the management team to continue grow the Company," said Jason Miller, Partner at Olympus.
Peter Butterfield, Chairman of Omega, added, "I would like to thank AEA for their support over the past few years and look forward to partnering with the Olympus team. I have never been more excited about the prospects of the Company."
Founded in 1988, Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and for companies needing capital for expansion. Olympus is an active, long-term investor across a broad range of industries including business services, consumer products, healthcare services, financial services, industrial services, and manufacturing. Olympus manages in excess of $8.5 billion mainly on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs.
The Olympus team included Jason Miller, Matt Bujor, and Alex Pollera. Olympus was represented by Ben Clinger, Adam Wexner, and Kat Murphy from Kirkland & Ellis LLP. Antares Capital LP led debt financing for the transaction.
AEA Investors LP was founded in 1968 by the Rockefeller, Mellon and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA has an extraordinary global network built over many years which includes leading industrial families, business executives and leaders; many of whom invest with AEA as active individual investors and/or join its portfolio company boards or act in other advisory roles. Today, AEA's approximately 100 investment professionals operate globally with offices in New York, Stamford, San Francisco, London, Munich and Shanghai. The firm manages funds that have over $14 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies, growth capital and mezzanine and senior debt investments. AEA Small Business is a strategy within AEA that currently manages $1.9 billion of invested and committed capital. The team seeks to help grow and transform companies at the lower end of the middle market by sponsoring growing companies with proven management teams and superior business models.
Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and for growing companies. Olympus manages in excess of $8.5 billion mainly on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs. Founded in 1988, Olympus is an active, long-term investor across a broad range of industries including business services, food services, consumer products, healthcare services, financial services, industrial services and manufacturing.
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https://www.wibw.com/prnewswire/2022/03/31/raytheon-missiles-amp-defense-awarded-651-million-produce-spy-6-radars-next-gen-us-navy-ships/
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The contract also includes four option years, worth additional $2.5 billion
TUCSON, Ariz., March 31, 2022 /PRNewswire/ -- Raytheon Missiles & Defense, a Raytheon Technologies (NYSE: RTX) business, was awarded a $651 million, with options totaling $2.5 billion, hardware, production and sustainment contract for full-rate production of the AN/SPY-6(V) Family of Radars. The contract, with options, totals $3.2 billion and five years of radar production to equip up to 31 U.S. Navy ships with SPY-6 radars.
Under the contract, RMD will produce solid state, fixed-face and rotating SPY-6 variants that will deliver unprecedented integrated air and missile defense capabilities for seven types of U.S. Navy ships over the next 40 years. Those vessels include the Navy's new Arleigh Burke class Flight III destroyers, aircraft carriers and amphibious ships; today's Flight IIA destroyers will be backfit with an upgraded radar.
"There is no other radar with the surface maritime capabilities of SPY-6," said Wes Kremer, president of Raytheon Missiles & Defense. "SPY-6 is the most advanced naval radar in existence, and it will provide our military a giant leap forward in capability for decades to come."
Since its inception, more than $600 million has been invested in the development and manufacturing of the SPY-6 family of radars. When compared to legacy radars, SPY-6 will bring new capabilities to the surface fleet, such as advanced electronic warfare protection and enhanced detection abilities.
SPY-6 array radar variants have between nine and 37 radar modular assemblies, known as RMAs. Common RMAs allow SPY-6 to be scalable and modular to support production for the U.S. and partner nations across all variants, to include the Enterprise Air Surveillance Radar. This commonality supports standardized logistics and training for those who work on the radars.
SPY-6 radar installation is complete on the Navy's first Flight III destroyer, the USS Jack H. Lucas (DDG 125), which is scheduled to be operational in 2024. Radar array deliveries are complete for the next ship in the class, the future USS Ted Stevens (DDG 128).
Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. With four industry-leading businesses ― Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense ― the company delivers solutions that push the boundaries in avionics, cybersecurity, directed energy, electric propulsion, hypersonics, and quantum physics. The company, formed in 2020 through the combination of Raytheon Company and the United Technologies Corporation aerospace businesses, is headquartered in Waltham, Massachusetts.
Media Contact
Tara Wood
rmdpr@rtx.com
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NEW YORK, March 31, 2022 /PRNewswire/ --
If you own shares in any of the companies listed above and
would like to discuss our investigations or have any questions concerning
this notice or your rights or interests, please contact:
Joshua Rubin, Esq.
Weiss Law
305 Broadway, 7th Floor
New York, NY 10007
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
Alleghany Corporation (NYSE: Y)
Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Alleghany Corporation (NYSE: Y) in connection with the proposed acquisition of Y by Berkshire Hathaway. Under the terms of the merger agreement, Y shareholders will receive $848.02 in cash for each share of Y common stock owned. If you own Y shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://www.weisslaw.co/news-and-cases/y
Anaplan, Inc. (NYSE: PLAN)
Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Anaplan, Inc. (NYSE: PLAN), in connection with the proposed acquisition of PLAN by Thoma Bravo. Under the terms of the merger agreement, PLAN shareholders will receive $66.00 in cash for each share of PLAN common stock owned. If you own PLAN shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://www.weisslaw.co/news-and-cases/plan
Citrix Systems, Inc (NASDAQ: CTXS)
Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Citrix Systems, Inc (NASDAQ: CTXS), in connection with the proposed acquisition of CTXS by affiliates of Vista Equity Partners and Evergreen Coast Capital Corporation. Under the terms of the agreement, CTXS shareholders will receive $104.00 in cash for each share of CTXS common stock that they hold. If you own CTXS shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://www.weisslaw.co/news-and-cases/ctxs
Peak Bancorp, Inc. (OTC: IDFB)
Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Peak Bancorp, Inc. (OTC: IDFB), in connection with the proposed acquisition of IDFB by BAWAG Group. Under the terms of the acquisition agreement, IDFB's shareholders will receive $12.05 in cash for each share of IDFB common stock that they hold. If you own IDFB shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://www.weisslaw.co/news-and-cases/idfb
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https://www.wibw.com/prnewswire/2022/03/31/tecnos-ar-campaign-with-man-city-announceyourself-shortlisted-best-brand-activation-involving-football-fba-2022/
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NEW YORK, March 31, 2022 /PRNewswire/ -- The Football Business Awards (FBA), considered the industry's foremost and prestigious accolade, has shortlisted TECNO's #AnnounceYourself Augmented Reality (AR) Campaign for the 2022 Best Brand Activation Involving Football. Blending the most advanced AR immersive technology, a storied club and the aspirations of football fans all over the world, the #AnnounceYourself campaign was a runaway success, catching the eyes of many football executives and professionals all around the world.
Into its 10th year, the FBA celebrates the vital role that clubs and businesses play shaping the football industry, and enabling every game to be a success, both on and off the pitch. It recognizes outstanding successes such as excellence in football media, marketing efficiency, as well as business and technology innovation. With an illustrious judging panel selected for their particular experience and expertise, the FBA has grown into a significant annual networking event in the industry.
In the capacity of being Manchester City's Global Official Handset Partner, TECNO created a metaverse-like experience for fans to interact with the club set in Man City. This AR experience saw fans journeying through the club, in a simulated reality akin to a football metaverse. From visiting the Etihad Stadium and Man City Football Academy training campus, to signing a new contract, selecting their squad number, and mingling with first-team players, the AR campaign accorded football fans a ticket to live out their dreams supporting their favorite club.
Users could also take part in the 3D penalty shootout games before showing off their skills and scores on social media. The AR experience campaign culminated in a grand lucky draw where lucky contestants won rare VIP matchday tickets and travel to a Manchester City home fixture during the season.
This campaign received recognition from the judging panel behind the FBA because it reflects a turning point in how technology can be integrated into our passions and to utilize platforms such as AR to unite fans and allow them to share common experiences, such as playing football or supporting a club.
With this AR campaign, TECNO has not only demonstrated the far-reaching effects of utilizing sports marketing but also worked to cement the brand's presence on the global stage. This reflects TECNO's mission as a technology company to bring to consumers, an innovative brand experience through cutting-edge technology and marketing.
The FBAs were designed to celebrate excellence and acknowledge success in the business of football. The Awards recognize the essential role that business plays in football, the positive impact of football on the community and the vital role played by the businesses which serve the game. This is the event at which all the achievements off the pitch are celebrated at the end of each year. With an illustrious judging panel selected for their particular experience and expertise, the FBA has grown into a significant annual networking event in the industry.
With "Stop At Nothing" as its brand essence, TECNO is committed to unlocking the best contemporary technologies for progressive individuals across global emerging markets, giving them elegantly designed intelligent products that inspire consumers to uncover a world of possibilities. This recognition by the FBA marks an important milestone for TECNO, and the global smartphone manufacturer looks forward to bringing forth even more innovations in the coming years.
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https://www.wibw.com/prnewswire/2022/03/31/tieks-launches-virtual-tieksforukraine-auction-raise-funds-ukrainian-refugees/
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Los Angeles-based shoe company hosts virtual auction of limited edition and one-of-a-kind ballet flats to raise awareness with 100% of proceeds supporting Ukrainian people
LOS ANGELES, March 31, 2022 /PRNewswire/ -- Today, Los Angeles-based shoemaker Tieks announced the launch of #TieksForUkraine, a virtual auction and raffle featuring their famed ballet flats, running from March 31 to April 3. In solidarity with the people of Ukraine, 100% of the auction and raffle proceeds will be donated to World Central Kitchen's #ChefsforUkraine initiative, an on the ground organization providing millions of meals 24/7 to families across all eight border crossings including Ukraine, Poland, Romania, Moldova, and Hungary.
For the first time ever, prized past limited editions, beloved bygone styles, and exclusive pairs that have never been sold publicly, including a brand-new, one-of-a-kind style, will be available for bid and raffle throughout the four-day auction. The auction is open to all U.S. residents and available through the Tieks.com website.
Within the first two hours of the auction, thousands of bids have been placed, with styles fetching bids as high as $4,500 (Toscani) and $3,500 (Arabian Night).
Historically, limited-edition Tieks are released on rare occasions like Black Friday and routinely sell out in 24-72 hours, making these releases some of the most coveted designs by the brand. These limited-edition styles have become among the most highly anticipated shoe releases year-round, with fans preparing to do almost anything to get their hands on a pair. Limited release pairs usually retail for significantly more in the secondary markets after they are no longer available from Tieks. However, from March 31-April 3, fans will have a chance to get their hands on a pair while also supporting an incredible cause.
#TieksForUkraine will feature eight total pairs, with seven up for auction and a one-of-a-kind pair for raffle including one limited edition style each of Red Diamond (2017 release), True Love Red (2021 release), Giraffe (2012 release), Toscani, Arabian Night, and Brown and Black Ostrich—two styles that have never been available for sale publicly. All auction styles will start at $100 and be awarded to the highest bidder. Additionally, Mirage, a one-of-a-kind pair in a sparkly sand hue will be available to win via a raffle. Raffle tickets for this style are $1 each with an unlimited purchase amount. As an added bonus, Tieks will also give away $100 Tieks Gift Cards to 10 additional raffle winners.
"I'm humbled that my company and our community are able to support the people of Ukraine through the #TieksForUkraine initiative," Gavrieli said. "In solidarity with the people of Ukraine, who have lost so much and shown immense courage and strength, our community wants to be involved in contributing to the Ukrainian people in a meaningful way." Gavrieli added, "My hope is that through the auction proceeds, World Central Kitchen will be able to provide tens of thousands of meals for Ukrainians braving this unimaginable war."
To learn more and enter, visit here.
About Tieks:
Stylish, comfortable, durable, and foldable, Tieks are the most versatile flats in the world. Tieks is committed to women's empowerment and, through the Gavrieli Foundation, has become the largest individual lender in the world on Kiva, sending over $10,000,000 to women entrepreneurs living in poverty around the world.
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https://www.wibw.com/prnewswire/2022/03/31/ultra-pro-acquires-legion-supplies-brand-tabletop-gaming-accessories/
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LOS ANGELES, March 31, 2022 /PRNewswire/ -- Ultra PRO International LLC ("Ultra PRO"), a California-based manufacturer of toys, board games, and accessories, has acquired Legion Supplies, Inc. ("Legion Supplies"), an innovator in the tabletop gaming space since its debut in 2009. Steve Port, Owner of Legion Supplies, states, "What prompted the launch 12 years ago was when, as a hobby store owner, I saw my customer's desire for art-based sleeves that represented them beyond the basic fantasy art that existed. From our first 'Bacon' art sleeves, we've tried to bring fun images to quality products that help players express their individuality." Legion Supplies began with trading card game accessories and in 2017 launched MTGproshop.com, which expanded their offerings into the lifestyle category giving fans of Magic: The Gathering a broad selection of apparel and decor based items.
Founded in 1952 and currently celebrating its 70th anniversary, Ultra PRO is a leader in the gaming industry. The acquisition of Legion Supplies reinforces Ultra PRO's strong ability to continue to bring high quality products to the collectibles and trading card games marketplace.
Steve further states, "I'm excited for the expanded capabilities Legion will have working with Ultra PRO's large chain of suppliers and expertise in areas that can only make Legion products better."
Jay Kuo, Ultra PRO's President says, "Legion Supplies is well known in the trading card game community and has developed a great niche business with a loyal following. We're excited to welcome Steve Port to the Ultra PRO management team, as well as the entirety of the Legion team to the Ultra PRO family and look forward to Steve's continued development of Legion Supplies' catalog and service offerings."
Ultra PRO has a strong history of USA-based manufacturing and this acquisition further expands those capabilities as Legion Supplies offers a wide range of product types produced in their Minnesota-based facilities.
Ultra PRO looks forward to growing the business and bringing innovative gaming products to market for years to come. The new partnership will allow Ultra PRO to further expand distribution of the product assortment, create cross-selling opportunities and bring forth complementary line expansions that will be sought out by the gaming audience for years to come.
Legion Supplies, Inc products can be found at https://www.legionsupplies.com/ and https://mtgproshop.com/.
Ultra PRO products can be found at https://shop.ultrapro.com/
About Ultra PRO
Ultra PRO is the leading manufacturer and supplier of sports and gaming collectibles accessories, board games, photo and scrapbooking albums, school and office supplies, and TableTopics conversation starter card sets. The company has been designing and manufacturing top-quality products since 1952. Ultra PRO brands are recognized for their high-quality standards and design innovations. The company's products are sold through a top-tier network of distributors and customers worldwide. They can be purchased in hobby shops, independent toy and gift stores, retail chains and online stores across the globe. Ultra PRO is a privately-held, family-owned company with head offices near Los Angeles, California. For more information, please visit www.UltraPRO.com.
About Legion Supplies, Inc.
Legion Supplies, Inc was founded by Steve Port, serial entrepreneur, and co-founder of Melee.gg, an event management software company. Located in Burnsville, MN, Legion Supplies has been a leader in the tabletop gaming space since 2009. Legion is known for fun and trendy designs as well as innovative product development. Since the beginning, Legion has continued to expand offering new categories of gaming lifestyle products as well as publishing and distribution.
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https://www.wibw.com/prnewswire/2022/03/31/veris-residential-announces-executive-appointments/
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Jeff Turkanis Named Chief Investment Officer
Taryn Fielder Named General Counsel
JERSEY CITY, N.J., March 31, 2022 /PRNewswire/ -- Veris Residential, Inc. (NYSE: VRE), a forward-thinking, environmentally- and socially-conscious REIT that primarily owns, operates, acquires, and develops Class A multifamily properties, today announced two executive appointments designed to further support the company's transition into a pure-play multifamily REIT and drive long-term shareholder value.
Jeff Turkanis, former Head of U.S. Residential at Oxford Properties Group, has been appointed Chief Investment Officer, succeeding Ricardo Cardoso, effective April 4, and Taryn Fielder, former General Counsel at WashREIT, has been appointed General Counsel, succeeding Gary Wagner, effective April 18. Messrs. Cardoso and Wagner will be leaving the company to pursue other opportunities following a transition period.
Mahbod Nia, Chief Executive Officer of Veris Residential, said, "We are pleased to welcome Jeff and Taryn to Veris Residential as we continue to strengthen our team with top professionals who have significant experience working across private and publicly traded residential real estate. Jeff's intricate knowledge of the residential sector and impressive track record of sourcing and executing strategic investments, coupled with Taryn's breadth of experience that includes providing strategic advice for a variety of complex real estate transactions, will be invaluable as we continue our transition to a pure-play multifamily REIT.
"Importantly, I would like to thank Ricardo and Gary for their decades of dedicated service to Veris Residential and wish them all the best as they explore the next chapter of their careers."
Mr. Turkanis' extensive real estate investment experience includes over $15 billion in transactions concluded primarily across the office and residential sectors. He has been focused specifically on the residential sector (predominantly multifamily) for the past 8 years, closing over $4 billion in transactions during this time. As Chief Investment Officer, he will be responsible for overseeing the sale of non-strategic assets, identifying potential value enhancement opportunities within Veris Residential's existing portfolio, and sourcing potential new investment opportunities. Prior to his more than decade-long tenure at Oxford Properties Group, Mr. Turkanis held roles at Putnam Investments and Fortress Investment Group. He earned a BBA from Washington University in St. Louis and an MBA, Real Estate from Columbia Business School.
Ms. Fielder has significant experience providing legal counsel for capital market transactions, as well as securities, corporate governance, and regulatory compliance matters. Prior to WashREIT, she served as Senior Vice President and General Counsel for ASB Real Estate Investments and was Assistant General Counsel for publicly-traded REIT DiamondRock Hospitality Company. Earlier in her career, she worked in the Real Estate Group at Hogan Lovells, and practiced corporate and real estate law with Simpson, Thacher and Bartlett LLP. Ms. Fielder earned a BA summa cum laude from Eckerd College and her JD from Harvard Law School.
In connection with the hiring of Ms. Fielder and Mr. Turkanis, and also in connection with the previous hiring of Ms. Amanda Lombard as Chief Accounting Officer, who will assume the role of Chief Financial Officer on April 1, 2022, Veris Residential is also announcing, as required by New York Stock Exchange Listed Company Manual Rule 303A.08, equity awards to be made to those three executives as a material inducement to their entering into employment with the company. All of the awards were approved by the Compensation Committee of the Veris Residential Board of Directors and will be made effective April 18, 2022, or such later date as the Chair of the Compensation Committee may determine. The awards to Ms. Lombard and Ms. Fielder are each in the form of restricted stock units; Mr. Turkanis will receive a restricted stock unit award and a stock option award.
The restricted stock unit award to Ms. Lombard will have a grant date fair value of $150,000 and will generally vest ratably on each of the first three anniversaries of the date of grant. The restricted stock unit award to Ms. Fielder will have a grant date fair value of $400,000 and will generally vest 60% on December 31, 2022, 20% on December 31, 2023 and 20% on the third anniversary of the date of grant. The restricted stock unit award to Mr. Turkanis will have a grant date fair value of $425,000 and will generally vest 50% on the first anniversary of the date of grant and 25% on each of the next two anniversaries of the grant date. The option grant to Mr. Turkanis will cover 250,000 shares, have an exercise price equal to the closing price of the underlying stock on the date of grant, generally vest and become exercisable ratably on each of the first three anniversaries of the date of grant, and have a maximum six-year term. All of the awards are subject to accelerated vesting in certain circumstances. The awards will all be made outside of Veris Residential's existing 2013 Incentive Stock Plan but will be subject to terms and conditions generally consistent with those in that plan, other than with respect to such terms and conditions intended to comply with the NYSE inducement award exception.
About Veris Residential, Inc.
Veris Residential, Inc. is a forward-thinking, environmentally- and socially-conscious real estate investment trust (REIT) that primarily owns, operates, acquires, and develops holistically-inspired, Class A multifamily properties that meet the sustainability-conscious lifestyle needs of today's residents while seeking to positively impact the communities it serves and the planet at large. The company is guided by an experienced management team and Board of Directors and is underpinned by leading corporate governance principles, a best-in-class and sustainable approach to operations, and an inclusive culture based on equality and meritocratic empowerment. For additional information on Veris Residential, Inc. and our properties available for lease, please visit http://www.verisresidential.com/.
For Veris Residential:
Amanda Shpiner/Grace Cartwright
Gasthalter & Co.
212-257-4170
veris-residential@gasthalter.com
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https://www.wibw.com/prnewswire/2022/04/01/51job-inc-reports-fourth-quarter-fiscal-year-2021-financial-results/
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SHANGHAI, March 31, 2022 /PRNewswire/ -- 51job, Inc. (Nasdaq: JOBS) ("51job" or the "Company"), a leading provider of integrated human resource services in China, announced today its unaudited financial results for the fourth quarter and fiscal year of 2021 ended December 31, 2021.
Fourth Quarter 2021 Financial Highlights:
- Net revenues increased 15.7% over Q4 2020 to RMB1,345.2 million (US$211.1 million)
- Online recruitment services revenues increased 12.0%
- Other human resource related revenues increased 19.0%
- Income from operations was RMB304.6 million (US$47.8 million)
- Fully diluted earnings per share was RMB5.23 (US$0.82)
- Non-GAAP adjusted fully diluted earnings per share[1] was RMB5.99 (US$0.94)
Fiscal Year 2021 Financial Highlights:
- Net revenues increased 19.8% from 2020 to RMB4,420.4 million (US$693.7 million)
- Online recruitment services revenues increased 11.6%
- Other human resource related revenues increased 31.3%
- Income from operations was RMB551.3 million (US$86.5 million)
- Fully diluted earnings per share was RMB9.40 (US$1.47)
- Non-GAAP adjusted fully diluted earnings per share was RMB13.12 (US$2.06)
Fourth Quarter 2021 Unaudited Financial Results
Net revenues for the fourth quarter ended December 31, 2021 were RMB1,345.2 million (US$211.1 million), an increase of 15.7% from RMB1,163.1 million for the same quarter in 2020.
Online recruitment services revenues for the fourth quarter of 2021 increased 12.0% to RMB617.7 million (US$96.9 million) compared with RMB551.6 million for the same quarter in 2020, primarily due to an improvement in hiring sentiment, demand and activity from employers in 2021.
Other human resource related revenues for the fourth quarter of 2021 increased 19.0% to RMB727.5 million (US$114.2 million) from RMB611.5 million for the same quarter in 2020. The growth was primarily driven by robust employer demand for seasonal campus recruitment, business process outsourcing and training services in 2021.
Cost of services for the fourth quarter of 2021 increased 29.1% to RMB535.2 million (US$84.0 million) from RMB414.5 million for the same quarter in 2020, primarily due to higher employee compensation expenses, headcount additions and greater direct costs, such as venue rental, media production and technology support, incurred in providing campus recruitment services to employers. Gross profit for the fourth quarter of 2021 increased 8.2% to RMB810.0 million (US$127.1 million) from RMB748.6 million for the same quarter in 2020. Gross margin, which is gross profit as a percentage of net revenues, was 60.2% in the fourth quarter of 2021 compared with 64.4% for the same quarter in 2020.
Operating expenses for the fourth quarter of 2021 increased 28.9% to RMB505.4 million (US$79.3 million) from RMB392.0 million for the same quarter in 2020. Sales and marketing expenses for the fourth quarter of 2021 increased 34.3% to RMB403.6 million (US$63.3 million) from RMB300.6 million for the same quarter in 2020, primarily due to higher employee compensation expenses, staff additions and greater spending on advertising and brand awareness campaigns. Advertising and promotion expenses increased 27.7% to RMB90.0 million (US$14.1 million) for the fourth quarter of 2021 from RMB70.5 million for the same quarter in 2020.
General and administrative expenses for the fourth quarter of 2021 increased 11.3% to RMB101.8 million (US$16.0 million) from RMB91.4 million for the same quarter in 2020, primarily due to higher employee compensation expenses
Income from operations for the fourth quarter of 2021 was RMB304.6 million (US$47.8 million) compared with RMB356.6 million for the fourth quarter of 2020. Operating margin, which is income from operations as a percentage of net revenues, was 22.6% for the fourth quarter of 2021 compared with 30.7% for the same quarter in 2020. Excluding share-based compensation expense, operating margin would have been 24.9% for the fourth quarter of 2021 compared with 33.7% for the same quarter in 2020.
The Company recognized a loss from foreign currency translation of RMB10.9 million (US$1.7 million) in the fourth quarter of 2021 compared with RMB33.9 million in the fourth quarter of 2020, primarily due to the impact of the change in exchange rate between the Renminbi and the U.S. dollar on the Company's U.S. dollar cash deposits.
The Company recognized a mark-to-market, non-cash loss of RMB10.7 million (US$1.7 million) in the fourth quarter of 2021 compared with RMB9.4 million in the fourth quarter of 2020 associated with a change in fair value of listed equity securities investment in Huali University Group Limited, which is traded on the Hong Kong Stock Exchange. The Company also recognized RMB3.4 million (US$0.5 million) in professional services fees and administrative expenses related to the proposed going-private transaction in the fourth quarter of 2021.
Other income in the fourth quarter of 2021 included local government financial subsidies of RMB98.6 million (US$15.5 million) compared with RMB14.9 million in the fourth quarter of 2020.
Net income attributable to 51job for the fourth quarter of 2021 was RMB355.2 million (US$55.7 million) compared with RMB342.0 million for the same quarter in 2020. Fully diluted earnings per share for the fourth quarter of 2021 was RMB5.23 (US$0.82) compared with RMB5.01 for the same quarter in 2020.
In the fourth quarter of 2021, total share-based compensation expense was RMB29.9 million (US$4.7 million) compared with RMB35.0 million in the fourth quarter of 2020.
Excluding share-based compensation expense, loss from foreign currency translation and change in fair value of listed equity securities investment, as well as the related tax effect of these items, non-GAAP adjusted net income attributable to 51job for the fourth quarter of 2021 was RMB406.7 million (US$63.8 million) compared with RMB420.1 million for the fourth quarter of 2020. Non-GAAP adjusted fully diluted earnings per share was RMB5.99 (US$0.94) in the fourth quarter of 2021 compared with RMB6.16 in the fourth quarter of 2020.
Fiscal Year 2021 Unaudited Financial Results
Net revenues in 2021 were RMB4,420.4 million (US$693.7 million), an increase of 19.8% from RMB3,689.0 million in 2020
Online recruitment services revenues in 2021 increased 11.6% to RMB2,396.2 million (US$376.0 million) from RMB2,147.3 million in 2020. The increase was primarily due to the improvement in business activity and more recruitment needs of employers in China in 2021.
Other human resource related revenues in 2021 increased 31.3% to RMB2,024.2 million (US$317.6 million) from RMB1,541.6 million in 2020, primarily due to resilient customer demand and usage of the Company's training, campus recruitment, placement and business process outsourcing services.
Cost of services in 2021 increased 32.9% to RMB1,676.7 million (US$263.1 million) from RMB1,261.7 million in 2020, primarily due to higher employee compensation expenses and headcount additions. Gross profit in 2021 increased 13.0% to RMB2,743.7 million (US$430.5 million) from RMB2,427.2 million in 2020. Gross margin was 62.1% in 2021 compared with 65.8% in 2020.
Income from operations in 2021 decreased 36.4% to RMB551.3 million (US$86.5 million) from RMB867.1 million in 2020, primarily due to the significant increase in sales and marketing expenses in 2021. Operating margin was 12.5% in 2021 compared with 23.5% in 2020. Excluding share-based compensation expense, operating margin would have been 15.9% in 2021 compared with 27.4% in 2020.
Net income attributable to 51job in 2021 was RMB640.7 million (US$100.5 million) compared with RMB1,097.3 million in 2020. Fully diluted earnings per share in 2021 was RMB9.40 (US$1.47) compared with RMB16.12 in 2020.
Excluding share-based compensation expense, loss from foreign currency translation, and changes in fair value of listed equity securities investment and long-term investment, as well as the related tax effect of these items, non-GAAP adjusted net income attributable to 51job in 2021 was RMB894.4 million (US$140.4 million) compared with RMB1,243.9 million in 2020. Non-GAAP adjusted fully diluted earnings per share was RMB13.12 (US$2.06) in 2021 compared with RMB18.28 in 2020.
As of December 31, 2021, cash and short-term investments totaled RMB10,587.0 million (US$1,661.3 million) compared with RMB10,761.9 million as of December 31, 2020.
Currency Convenience Translation
For the convenience of readers, certain Renminbi amounts have been translated into U.S. dollar amounts at the rate of RMB6.3726 to US$1.00, the noon buying rate on December 30, 2021 in New York for cable transfers of Renminbi as set forth in the H.10 weekly statistical release of the Federal Reserve Board.
Use of Non-GAAP Financial Measures
To supplement the consolidated financial statements presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), 51job uses non-GAAP financial measures of income before income tax expense, income tax expense, adjusted net income, adjusted net income attributable to 51job and adjusted earnings per share, which are adjusted from results based on GAAP to exclude share-based compensation expense, loss from foreign currency translation and changes in fair value of listed equity securities investment and long-term investment, as well as the related tax effect of these items. The Company believes excluding share-based compensation expense and its related tax effect from its non-GAAP financial measures is useful for its management and investors to assess and analyze the Company's core operating results as such expense is not directly attributable to the underlying performance of the Company's business operations and do not impact its cash earnings. The Company believes excluding loss from foreign currency translation and changes in fair value of listed equity securities investment and long-term investment, as well as the related tax effect, from its non-GAAP financial measures is useful for its management and investors as such translation, mark-to-market gain or loss is not indicative of the Company's core business operations and will not result in cash settlement nor impact the Company's cash earnings. 51job also believes these non-GAAP financial measures excluding share-based compensation expense, loss from foreign currency translation and changes in fair value of listed equity securities investment and long-term investment, as well as the related tax effect of these items, are important in helping investors to understand the Company's current financial performance and future prospects and to compare business trends among different reporting periods on a consistent basis. The presentation of these additional measures should not be considered a substitute for or superior to GAAP results or as being comparable to results reported or forecasted by other companies. The non-GAAP measures have been reconciled to GAAP measures in the attached financial statements.
About 51job
Founded in 1998, 51job is a leading provider of integrated human resource services in China. With a comprehensive suite of HR solutions, 51job meets the needs of enterprises and job seekers through the entire talent management cycle, from initial recruitment to employee retention and career development. The Company's main online recruitment platforms (http://www.51job.com, http://www.yingjiesheng.com, http://www.51jingying.com, http://www.lagou.com, and http://www.51mdd.com), as well as mobile applications, connect millions of people with employment opportunities every day. 51job also provides a number of other value-added HR services, including business process outsourcing, training, professional assessment, campus recruitment, executive search and compensation analysis. 51job has a call center in Wuhan and a nationwide network of sales and service locations spanning more than 30 cities across China.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "targets," "confident" and similar statements. Among other things, statements that are not historical facts, including statements about 51job's beliefs and expectations, as well as 51job's strategic and operational plans, are or contain forward-looking statements. 51job may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. All forward-looking statements are based upon management's expectations at the time of the statements and involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: execution of 51job's strategies and business plans; growth and trends of the human resource services industry in China; market acceptance of 51job's products and services; competition in the industry; 51job's ability to control costs and expenses; 51job's ability to retain key personnel and attract new talent; relevant government policies and regulations relating to 51job's industry, corporate structure and business operations; seasonality in the business; fluctuations in the value of the Renminbi against the U.S. dollar and other currencies; risks related to acquisitions or investments 51job has made or will make in the future; accounting adjustments that may occur during the quarterly or annual close or auditing process; and fluctuations in general economic and business conditions in China and globally, including the impact of the coronavirus or other pandemic. Further information regarding these and other risks are included in 51job's filings with the U.S. Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release and based on assumptions that 51job believes to be reasonable as of this date, and 51job undertakes no obligation to update any forward-looking statement, except as required under applicable law.
Contact
Investor Relations, 51job, Inc.
Tel: +86-21-6879-6250
Email: ir@51job.com
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https://www.wibw.com/prnewswire/2022/04/01/broadcom-inc-announces-pricing-private-offering-senior-notes/
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SAN JOSE, Calif., March 31, 2022 /PRNewswire/ -- Broadcom Inc. (Nasdaq: AVGO) ("Broadcom") announced today that it has priced its previously announced offering (the "Offering") of $750,000,000 of 4.00% Senior Notes due 2029 and $1,200,000,000 of 4.15% Senior Notes due 2032 (together, the "New Notes"). The New Notes will be unsecured obligations of the Company and will rank pari passu with all other unsecured and unsubordinated indebtedness of the Company. The Offering is expected to settle on April 14, 2022, subject to customary closing conditions.
Broadcom intends to use the net proceeds from the sale of the New Notes to redeem in full its 4.700% Senior Notes due 2025 and 4.250% Senior Notes due 2026 (collectively, the "Redemption Notes"), including accrued and unpaid interest thereon, and to pay fees and expenses in connection therewith.
The New Notes are being sold in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons outside the United States under Regulation S under the Securities Act. The New Notes have not been registered under the Securities Act, and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws.
This press release is neither an offer to sell nor a solicitation of an offer to buy the New Notes, nor shall there be any sale of the New Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. This notice is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
Nothing in this press release should be construed as an offer to purchase, notice of redemption or a solicitation of an offer to purchase any of the Redemption Notes. The redemption of the Redemption Notes is conditioned on the completion by the Company of one or more debt financing transactions and the receipt of the net proceeds therefrom in an amount, together with cash on hand, sufficient to pay the redemption price for the Redemption Notes.
About Broadcom Inc.
Broadcom Inc. (NASDAQ: AVGO) is a global technology leader that designs, develops and supplies a broad range of semiconductor and infrastructure software solutions. Broadcom's category-leading product portfolio serves critical markets including data center, networking, enterprise software, broadband, wireless, storage and industrial. Our solutions include data center networking and storage, enterprise, mainframe and cyber security software focused on automation, monitoring and security, smartphone components, telecoms and factory automation.
Cautionary Note Regarding Forward-Looking Statements
This announcement contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning Broadcom. These statements include, but are not limited to, statements that address our expected future business and financial performance, the offering and use of proceeds, and other statements identified by words such as "will," "expect," "believe," "anticipate," "estimate," "should," "intend," "plan," "potential," "predict," "project," "aim," and similar words, phrases or expressions. These forward-looking statements are based on current expectations and beliefs of the management of Broadcom, as well as assumptions made by, and information currently available to, such management, current market trends and market conditions and involve risks and uncertainties, many of which are outside the Company's and management's control, and which may cause actual results to differ materially from those contained in forward-looking statements. Accordingly, you should not place undue reliance on such statements.
Particular uncertainties that could materially affect future results include risks associated with: the COVID-19 pandemic, which has disrupted, and will likely continue to disrupt, normal business activity, and which may have an adverse effect on our results of operations; any loss of our significant customers and fluctuations in the timing and volume of significant customer demand; our dependence on contract manufacturing and outsourced supply chain; our dependency on a limited number of suppliers; government regulations and administrative proceedings, trade restrictions and trade tensions; global economic conditions and concerns; cyclicality in the semiconductor industry or in our target markets; global political and economic conditions; our significant indebtedness and the need to generate sufficient cash flows to service and repay such debt; the amount and frequency of our share repurchase program; dependence on and risks associated with distributors and resellers of our products; dependence on senior management and our ability to attract and retain qualified personnel; any acquisitions we may make, such as delays, challenges and expenses associated with receiving governmental and regulatory approvals and satisfying other closing conditions, and with integrating acquired businesses with our existing businesses and our ability to achieve the benefits, growth prospects and synergies expected by such acquisitions; involvement in legal proceedings; quarterly and annual fluctuations in operating results; our ability to accurately estimate customers' demand and adjust our manufacturing and supply chain accordingly; our competitive performance and ability to continue achieving design wins with our customers, as well as the timing of any design wins; prolonged disruptions of our or our contract manufacturers' manufacturing facilities, warehouses or other significant operations; our ability to improve our manufacturing efficiency and quality; our dependence on outsourced service providers for certain key business services and their ability to execute to our requirements; our ability to maintain or improve gross margin; our ability to protect our intellectual property and the unpredictability of any associated litigation expenses; compatibility of our software products with operating environments, platforms or third-party products; our ability to enter into satisfactory software license agreements; availability of third party software used in our products; use of open source code sources in our products; any expenses or reputational damage associated with resolving customer product warranty and indemnification claims; market acceptance of the end products into which our products are designed; our ability to sell to new types of customers and to keep pace with technological advances; our compliance with privacy and data security laws; our ability to protect against a breach of security systems; fluctuations in foreign exchange rates; our provision for income taxes and overall cash tax costs, legislation that may impact our overall cash tax costs and our ability to maintain tax concessions in certain jurisdictions; and other events and trends on a national, regional and global scale, including those of a political, economic, business, competitive and regulatory nature. Many of the foregoing risks and uncertainties are, and will be, exacerbated by the COVID-19 pandemic and any worsening of the global business and economic environment as a result.
Our filings with the Securities and Exchange Commission ("SEC"), which you may obtain for free at the SEC's website at http://www.sec.gov, discuss some of the important risk factors that may affect our business, results of operations and financial condition. Actual results may vary from the estimates provided. We undertake no intent or obligation to publicly update or revise any of the estimates and other forward-looking statements made in this announcement, whether as a result of new information, future events or otherwise, except as required by law.
Contact:
Broadcom Inc.
Ji Yoo
Investor Relations
408-433-8000
investor.relations@broadcom.com
AVGO-Q
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https://www.wibw.com/prnewswire/2022/04/01/broadcom-inc-announces-private-exchange-offers-certain-outstanding-notes-new-notes/
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SAN JOSE, Calif., March 31, 2022 /PRNewswire/ -- Broadcom Inc. (Nasdaq: AVGO) ("Broadcom" or the "Company") announced today the commencement of offers to all eligible holders (together, the "Exchange Offers") of the Company's or its subsidiaries' Existing Notes listed in the table below to exchange Existing Notes for consideration consisting of a combination of up to $2,500,000,000 aggregate principal amount of the Company's new notes due 2037 (the "New Notes") and a cash payment, the complete terms and conditions of which are set forth in an offering memorandum, dated today (the "Offering Memorandum"). Capitalized terms not defined herein shall have the meanings ascribed to them in the Offering Memorandum.
Set forth below is a table summarizing certain material terms of the New Notes to be issued in the Exchange Offers:
The aggregate principal amount of New Notes to be issued pursuant to the Exchange Offers will be subject to a maximum amount of $2,500,000,000 aggregate principal amount.
The following is a summary of certain key terms of the Exchange Offers:
- The Exchange Offers will expire at 12:00 midnight, New York City time, at the end of April 27, 2022, unless extended by the Company (the "Expiration Date").
- Eligible Holders who validly tender and do not validly withdraw their Existing Notes at or prior to the Early Participation Date will receive: (a) New Notes in a principal amount equal to (i) the Total Consideration (as defined below) applicable to such Existing Notes minus (ii) the Cash Component (as defined below), and (b) a cash payment equal to the Cash Component, for each $1,000 principal amount of such Existing Notes tendered and accepted for exchange by the Company.
- Eligible Holders who validly tender and do not validly withdraw their Existing Notes after the Early Participation Date will receive: (a) New Notes in a principal amount equal to (i) the Exchange Consideration (as defined below) applicable to such Existing Notes minus (ii) the Cash Component, and (b) a cash payment equal to the Cash Component, for each $1,000 principal amount of such Existing Notes tendered and accepted for exchange by the Company.
- "Total Consideration" means, as calculated in accordance with the formula set forth in Annex A to the Offering Memorandum, the discounted value of the remaining payments of principal and interest through the maturity date or par call date, as applicable, of the applicable series of Existing Notes (excluding accrued and unpaid interest to, but not including, the applicable Settlement Date), using a yield equal to the sum of (a) the bid-side yield on the applicable Reference UST Security (as set forth in the tables above with respect to such series of Existing Notes) as calculated by the Dealer Managers (as defined below) in accordance with standard market practice, as of 11:00 a.m. New York City time on April 14, 2022 (such date and time, the "Pricing Time"), as displayed on the Bloomberg Government Pricing Monitor Pages listed in the tables set forth on the cover page of the Offering Memorandum with respect to such series of Existing Notes (or any recognized quotation source selected by the Dealer Managers in their sole discretion if such page is not available or is manifestly erroneous) and (b) the Fixed Spread as set forth in the tables above with respect to such series of Existing Notes. For the avoidance of doubt, the Total Consideration includes the Early Participant Payment, as defined below.
- "Exchange Consideration" means the Total Consideration minus the Early Participant Payment.
- "Cash Component" means the portion of the Total Consideration, or the Exchange Consideration, as applicable, to be paid to holders in cash and is equal to the applicable Total Consideration for the relevant series of Existing Notes minus $1,000. For the avoidance of doubt, the Cash Component payable with respect to each series of Existing Notes validly tendered at or prior to the Early Participation Date, and accepted by us for exchange, will be equivalent to the Cash Component payable with respect to such series of Existing Notes validly tendered after the Early Participation Date and at or prior to the Expiration Date, and accepted by us for exchange.
- "Early Participant Payment" means $50 (payable in applicable New Notes) for each $1,000 principal amount of each series of Existing Notes tendered and not validly withdrawn at or prior to the Early Participation Date.
- The Company will pay interest on the New Notes at a rate per annum equal to (a) the yield, calculated in accordance with standard market practice, that corresponds to the bid-side price of the 1.875% United States Treasury due February 15, 2032 as of the Pricing Time as displayed on the Bloomberg Government Pricing Monitor page FIT1 (or any recognized quotation source selected by us in our sole discretion if such quotation report is not available or is manifestly erroneous), plus (b) a fixed spread of 215 basis points.
- Assuming the Company elects to have an early settlement, settlement for Existing Notes tendered at or prior to the Early Participation Date and accepted by the Company is expected to be April 18, 2022, unless extended by the Company (the "Early Settlement Date"). Settlement for Existing Notes tendered and accepted after the Early Participation Date is expected to be April 29, 2022, unless extended by the Company (the "Final Settlement Date").
- Eligible holders who validly tender and who do not validly withdraw their Existing Notes at or prior to 5:00 p.m., New York City time, on April 13, 2022, unless extended by the Company (the "Early Participation Date"), and whose tenders are accepted for exchange by the Company, will receive the Total Consideration for each $1,000 principal amount of Existing Notes.
- All Eligible Holders whose Existing Notes are accepted in an Exchange Offer will receive a cash payment equal to accrued and unpaid interest on such Existing Notes to, but not including, the applicable Settlement Date in addition to their Total Consideration.
- Tenders of Existing Notes in the Exchange Offers may be validly withdrawn at any time at or prior to 5:00 p.m., New York City time, on April 13, 2022, unless extended by the Company (the "Withdrawal Deadline"), but will thereafter be irrevocable, except in certain limited circumstances where additional withdrawal rights are required by law.
- Consummation of the Exchange Offers is subject to a number of conditions, including, among other things, the issuance of at least $500,000,000 aggregate principal amount of New Notes and the Company's determination that New Notes issued on the Final Settlement Date, if any, will be treated as part of the same issue as the New Notes, if any, issued on the Early Settlement Date for U.S. federal income tax purposes.
- The Company will not receive any cash proceeds from the Exchange Offers.
If and when issued, the New Notes will not have been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws. The New Notes may not be offered or sold in the United States or to any U.S. persons except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Company will enter into a registration rights agreement with respect to the New Notes. The New Notes will be unsecured obligations of the Company and will rank pari passu with all other unsecured and unsubordinated indebtedness of the Company.
The Exchange Offers are only made, and copies of the documents relating to the Exchange Offers will only be made available, to a holder of Existing Notes who has certified in an eligibility certification certain matters to the Company, including its status as a "qualified institutional buyer" as defined in Rule 144A under the Securities Act, a person other than a "U.S. person" as defined in Rule 902 under the Securities Act or a Canadian "accredited investor" and "permitted client" as defined in National Instrument 45-106—Prospectus Exemptions, Section 73.1(1) of the Securities Act (Ontario) and National Instrument 31-103—Registration Requirements, Exemptions and Ongoing Registrant Obligations. Holders of Existing Notes who desire access to the electronic eligibility form should contact D.F. King & Co., Inc., the information agent (the "Information Agent") for the Exchange Offers, at (866) 416-0577 (U.S. Toll-free) or (212) 269-5550 (Collect). Holders that wish to receive the Offering Documents can certify eligibility on the eligibility website at: http://www.dfking.com/broadcom. In connection with the Exchange Offers, Barclays Capital Inc., BBVA Securities Inc., BNP Paribas Securities Corp., and J.P. Morgan Securities LLC are acting as dealer managers (collectively, the "Dealer Managers").
This news release does not constitute an offer or an invitation by the Company to participate in the Exchange Offers in any jurisdiction in which it is unlawful to make such an offer or solicitation in such jurisdiction. None of Broadcom, the Information Agent or the Dealer Managers makes any recommendation as to whether any eligible holders should participate in the applicable Exchange Offer, and no one has been authorized by any of them to make such a recommendation. Eligible holders must make their own decisions as to whether to exchange their Existing Notes, and if so, the principal amount of such Existing Notes to be exchanged.
About Broadcom Inc.
Broadcom Inc. (NASDAQ: AVGO) is a global technology leader that designs, develops and supplies a broad range of semiconductor and infrastructure software solutions. Broadcom's category-leading product portfolio serves critical markets including data center, networking, enterprise software, broadband, wireless, storage and industrial. Our solutions include data center networking and storage, enterprise, mainframe and cyber security software focused on automation, monitoring and security, smartphone components, telecoms and factory automation.
Cautionary Note Regarding Forward-Looking Statements
This announcement contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning Broadcom. These statements include, but are not limited to, statements that address our expected future business and financial performance, the anticipated offerings and use of proceeds, and other statements identified by words such as "will," "expect," "believe," "anticipate," "estimate," "should," "intend," "plan," "potential," "predict," "project," "aim," and similar words, phrases or expressions. These forward-looking statements are based on current expectations and beliefs of the management of Broadcom, as well as assumptions made by, and information currently available to, such management, current market trends and market conditions and involve risks and uncertainties, many of which are outside the Company's and management's control, and which may cause actual results to differ materially from those contained in forward-looking statements. Accordingly, you should not place undue reliance on such statements.
Particular uncertainties that could materially affect future results include risks associated with: the COVID-19 pandemic, which has disrupted, and will likely continue to disrupt, normal business activity, and which may have an adverse effect on our results of operations; any loss of our significant customers and fluctuations in the timing and volume of significant customer demand; our dependence on contract manufacturing and outsourced supply chain; our dependency on a limited number of suppliers; government regulations and administrative proceedings, trade restrictions and trade tensions; global economic conditions and concerns; cyclicality in the semiconductor industry or in our target markets; global political and economic conditions; our significant indebtedness and the need to generate sufficient cash flows to service and repay such debt; the amount and frequency of our share repurchase program; dependence on and risks associated with distributors and resellers of our products; dependence on senior management and our ability to attract and retain qualified personnel; any acquisitions we may make, such as delays, challenges and expenses associated with receiving governmental and regulatory approvals and satisfying other closing conditions, and with integrating acquired businesses with our existing businesses and our ability to achieve the benefits, growth prospects and synergies expected by such acquisitions; involvement in legal proceedings; quarterly and annual fluctuations in operating results; our ability to accurately estimate customers' demand and adjust our manufacturing and supply chain accordingly; our competitive performance and ability to continue achieving design wins with our customers, as well as the timing of any design wins; prolonged disruptions of our or our contract manufacturers' manufacturing facilities, warehouses or other significant operations; our ability to improve our manufacturing efficiency and quality; our dependence on outsourced service providers for certain key business services and their ability to execute to our requirements; our ability to maintain or improve gross margin; our ability to protect our intellectual property and the unpredictability of any associated litigation expenses; compatibility of our software products with operating environments, platforms or third-party products; our ability to enter into satisfactory software license agreements; availability of third party software used in our products; use of open source code sources in our products; any expenses or reputational damage associated with resolving customer product warranty and indemnification claims; market acceptance of the end products into which our products are designed; our ability to sell to new types of customers and to keep pace with technological advances; our compliance with privacy and data security laws; our ability to protect against a breach of security systems; fluctuations in foreign exchange rates; our provision for income taxes and overall cash tax costs, legislation that may impact our overall cash tax costs and our ability to maintain tax concessions in certain jurisdictions; and other events and trends on a national, regional and global scale, including those of a political, economic, business, competitive and regulatory nature. Many of the foregoing risks and uncertainties are, and will be, exacerbated by the COVID-19 pandemic and any worsening of the global business and economic environment as a result.
Our filings with the Securities and Exchange Commission ("SEC"), which you may obtain for free at the SEC's website at http://www.sec.gov, discuss some of the important risk factors that may affect our business, results of operations and financial condition. Actual results may vary from the estimates provided. We undertake no intent or obligation to publicly update or revise any of the estimates and other forward-looking statements made in this announcement, whether as a result of new information, future events or otherwise, except as required by law.
Contact:
Broadcom Inc.
Ji Yoo
Investor Relations
408-433-8000
investor.relations@broadcom.com
AVGO-Q
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SOURCE Broadcom Inc.
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