Quiver News

TOKYO, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Lead Real Estate Co., Ltd. (Nasdaq: LRE) (“LRE” or “the Company”), a Japanese real estate developer of luxury residential properties including single-family homes and condominiums across Tokyo, Kanagawa prefecture and Sapporo, today announced a high-profile interview with President Eiji Nagahara in Bloomberg Businessweek published on December 1 ^st .

Management feels that the history and reach of Bloomberg Businessweek will help to spread the story of Lead Real Estate.

“I am delighted to share our company’s vision with Bloomberg Businessweek’s influential readership among investors throughout the world. It’s rewarding that such a vaunted financial news organization categorizes our story as quite newsworthy,” said Mr. Nagahara. “As our Company progresses, we continue to raise the bar in the hotel industry and Tokyo’s luxury housing market. We aim to transform the landscape in Japan and beyond.”

In recent developments, the Company has scheduled the launch of its latest extended-stay apartment hotel, ENT TERRACE GINZA Premium for December 16, 2024.

Japan remains an attractive destination as the Japanese tourism industry continues its post-pandemic rebound and boom. As a result, the lodging industry continues to see increasing demand for mid- to long-term stays.

At the same time, the Company continues to meet the growing demands of Japanese consumers in the luxury real estate market.

“Our ‘Excellence’ and ‘Excelsior’ series, our Com­pany’s flagship developments, have rewritten the benchmarks for Tokyo’s luxury housing market,” said Mr. Nagahara. “At the same time, we see 2025 as another potential banner year for Lead Real Estate.”

About ENT TERRACE Series

Our ENT TERRACE Series is an extended-stay hotel brand operated by Lead Real Estate Co., Ltd. In 2024, “ENT TERRACE AKIHABARA” was rated 9.5 out of 10 by Booking.com and received the “Traveller Review Awards.” In addition, all of our properties are certified as Super Hosts by Airbnb. The first of our “PREMIUM” Series’ properties, “ENT TERRACE GINZA PREMIUM,” will open on December 16, 2024. We will continue to develop our hotels to provide a space where guests can relax as if they were at home, while ensuring privacy and easing the burden of long-term stays.

For more information on our ENT TERRACE Hotels, please visit https://ent-terrace.com/en/ .

Follow us on Social Media:
Instagram: https://www.instagram.com/entterrace_hotel_official/
Facebook: https://www.facebook.com/entterrace.apartmenthotel/
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About Lead Real Estate Co., Ltd

Lead Real Estate Co., Ltd is a Japanese developer of luxury residential properties, including single-family homes and condominiums, across Tokyo, Kanagawa prefecture, and Sapporo. In addition, the Company operates hotels in Tokyo and leases apartment building units to individual customers in Japan and Dallas, Texas.

The Company’s mission is to serve its customers by offering stylish, safe, and luxurious living. The Company’s vision is to adopt the Kaizen (continuous improvement) approach to seek to improve its operations, and to leverage its nationally recognized, award-winning luxury homes and strong market position in the luxury residential property market in Tokyo, Kanagawa prefecture, and Sapporo to create a global transaction platform allowing access to prime Japanese condominiums as well as overseas condominiums, including in the U.S. and Hong Kong.

For more information, please visit the Company’s website at https://www.lead-real.co.jp/en/ .

Forward-looking Statements

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors that may affect its future results in the Company's registration statement and in its other filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact Information:

For Media and Investor Relations
Daisuke Takahashi
Chief Financial Officer
Lead Real Estate Co., Ltd
[email protected]
+81 3-5784-5127

Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the America’s, 5th Floor
New York, NY 10036
Office: (646) 893-5835
Email: [email protected]

Attachment

• ENT Terrace Logo

MAYFIELD VILLAGE, OHIO, Dec. 13, 2024 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for the month ended November 30, 2024:

See Progressive’s complete monthly earnings release, including the “Monthly Commentary,” for additional information.

About Progressive

Progressive Insurance ^® makes it easy to understand, buy and use car insurance , home insurance , and other protection needs. Progressive offers choices so consumers can reach us however it’s most convenient for them — online at progressive.com , by phone at 1-800-PROGRESSIVE, via the Progressive mobile app, or in-person with a local agent.

Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the second largest personal auto insurer in the country, a leading seller of commercial auto, motorcycle , and boat insurance, and one of the top 15 homeowners insurance carriers.

Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price ^® , Snapshot ^® , and HomeQuote Explorer ^® .

The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE: PGR.

Company Contact:
Douglas S. Constantine
(440) 395-3707
[email protected]

The Progressive Corporation
300 North Commons Blvd.
Mayfield Village, Ohio 44143
http://www.progressive.com

Download PDF: Progressive November 2024 Complete Earnings Release

Hong Kong, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Top Wealth Group Holding Limited (NASDAQ: TWG) (“Top Wealth” or the “Company”), a Hong Kong-based supplier of luxury caviar products, today announced that it received a delinquency notification letter (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) on December 9, 2024, indicating that the Company is not currently in compliance with the minimum bid price requirement set forth in Nasdaq’s Listing Rules for continued listing on the Nasdaq Capital Market, as the closing bid price for the Company’s ordinary shares listed on the Nasdaq Capital Market was below $1.00 per share for 30 consecutive business days.

Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. The Notice provides that the Company has a period of 180 calendar days from the date of the Notice, or until June 9, 2025, to regain compliance with the minimum bid price requirement.

The receipt of the Notice has no immediate effect on the Company’s business operations or the listing of the Company’s ordinary shares, which will continue to trade uninterrupted on the Nasdaq under the ticker “TWG.” Pursuant to the Notice, the Company has until June 9, 2025, to regain compliance with the minimum bid price requirement, during which time the Company’s ordinary shares will continue to trade on the Nasdaq Capital Market. If at any time before June 9, 2025, the bid price of the Company’s ordinary shares closes at or above $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written confirmation of compliance to the Company.

In the event that the Company does not regain compliance by June 9, 2025, the Company may be eligible for additional time to regain compliance. To qualify, the Company would be required to meet the continued listing requirement for the market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, except for the minimum bid price requirement. In addition, the Company would be required to notify Nasdaq of its intent to cure the deficiency during the second compliance period. If the Company is unable to meet these requirements, Nasdaq may provide notice that the Company’s securities will be subject to delisting.

The Company is committed to regaining compliance with Nasdaq’s Listing Rules and maintaining its listing on the Nasdaq Capital Market. Management is evaluating all available options to resolve the deficiency and ensure compliance within the compliance period provided by Nasdaq.

About Top Wealth Group Holding Limited

Top Wealth Group Holding Limited is a holding company incorporated in the Cayman Islands, and all of its operations are carried out by its operating subsidiary in Hong Kong, Top Wealth Group (International) Limited. The Company specializes in supplying premium-class sturgeon caviar, and its caviar and caviar products are endorsed with the Convention on International Trade in Endangered Species of Wild Fauna and Flora (“CITES”) permits. The Company supplies caviar to its customers under its customer’s brand labels (i.e. private labeling), and the Company also sells the caviar product under the Company’s caviar brand, “Imperial Cristal Caviar”, which has continuously achieved tremendous sales growth since its launch in the market.

Safe Harbor Statement

This press release 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," "confident" and similar statements. The Company 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 verbal statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about the Company’s beliefs and expectations, are forward-looking statements. Forward looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. Further information regarding these and other risks is included in the Company's filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of the press release, and the Company undertakes no duty to update such information, except as required under applicable law.

For more information, please contact:

Top Wealth Group Holding Limited

Investor Relations

Email: [email protected]

PORTLAND, Ore., Dec. 13, 2024 (GLOBE NEWSWIRE) -- Radius Recycling (NASDAQ: RDUS), a global leader in metals recycling, today announced the release of the Company’s Fiscal 2024 Sustainability Report. The report highlights the Company’s role in the transition to a low-carbon future by supplying recycled metals that are critical to the production of more sustainable products, including those associated with global decarbonization efforts.

“Nearly 10 years ago, we created a sustainability framework based on three pillars: People, Planet, and Profit,” said Tamara Lundgren, Chairman and Chief Executive Officer. “This framework is the foundation of our sustainability strategy and continues to deliver meaningful impact to all our stakeholders.”

The Company’s report showcases progress towards its multi-year sustainability goals, including a 30% reduction in greenhouse gas emissions at recycling operations versus its 2019 baseline, a 16% year-over-year reduction in total case incident rate, and the expansion of its International Organization for Standardization (ISO)-certified Environmental Management System to encompass 50% of Company facilities.

“Our achievements this year would not have been possible without all our employees living our Core Values of Safety, Sustainability, and Integrity and operating with the agility, resilience, and collaboration that have underpinned our success,” explained Lundgren. “I take great pride in highlighting our Company’s achievements and the steady progress we are making toward our goals.”

Radius annually diverts millions of tons of ferrous and nonferrous metals from landfills, supplies recycled metals to domestic and international customers, and produces some of the lowest carbon emission finished steel products available. “Our commitment to sustainable practices is embedded in our product and service offerings, daily operations, infrastructure investments, and stakeholder engagement activities,” commented Eric Potashner, Chief Sustainability Officer. “The benefit of our work has a lasting impact on our communities, the planet, and future generations.”

Selected Highlights from Radius Recycling's 2024 Sustainability Report:

• Recycled 4.9 million metric tons of ferrous and nonferrous metals, sold 3.8 million recycled auto parts, and sold 509,000 tons of low carbon emission finished steel products.
• 90% of Company facilities were free of any lost time injuries.
• Maintained 100% net carbon free electricity across Company recycling operations for the fourth consecutive year.
• Expanded 3PR™ portfolio to support the rapidly growing and important service and supply chain solution that enables greater recycling rates, reductions in material going to landfill, an improved carbon footprint, and enhanced sustainability reporting.
• Increased employee participation in the Company’s 401(k) matching benefit program to 70%.
• Donated more than 1,300 employee volunteer hours across 23 states.

Recognized as a Global Leader

In fiscal 2024, several global organizations recognized the Company for leading performance in sustainability, ethics, responsible operations, and employee engagement.

• Corporate Knights included Radius on its Global 100 List of the 2024 Most Sustainable Corporations in the World.
• Ethisphere Institute recognized Radius as one of 2024 World’s Most Ethical Companies® for the tenth consecutive year.
• Radius re-certified as a Great Place to Work® for the fourth consecutive year.
  

About Radius Recycling, Inc.

Radius Recycling, Inc. (formerly Schnitzer Steel Industries, Inc.) is one of the largest manufacturers and exporters of recycled metal products in North America with operating facilities located in 25 states, Puerto Rico, and Western Canada. Radius has seven deep water export facilities located on both the East and West Coasts and in Hawaii and Puerto Rico. The Company’s integrated operating platform also includes 50 stores which sell serviceable used auto parts from salvaged vehicles and receive over 4 million annual retail visits. The Company’s steel manufacturing operations produce finished steel products, including rebar, wire rod and other specialty products. Radius began operations in 1906 in Portland, Oregon.

Radius Recycling:

Public Affairs & Communications:
Eric Potashner
415-624-9885
[email protected]

Investor Relations:
Michael Bennett
503-323-2811
[email protected]

Company Info:
radiusrecycling.com
[email protected]

Reports 117% Dealer Network Growth, Secures Initial Pre-Orders from Leading Distributors, and Advances BTC/XRP Integration

West Seneca, New York, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Worksport Ltd. (NASDAQ: WKSP) (“Worksport” or the “Company”), a U.S.-based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, today provided a corporate update for December 2024. From accelerated sales, pre-orders, and expanding dealer networks, to establishing a proactive strategy in treasury management by incorporating Bitcoin (“BTC”) and Ripple (“XRP”), Worksport is excited to share the latest updates.

Driving Growth Through Strategic Initiatives

Worksport’s recent success reflects a series of strategic initiatives that have generated meaningful traction and interest. The Company’s move to proactively diversify its corporate treasury—allocating up to $5 million in Bitcoin and Ripple, capped at 10% of excess cash—reinforces Worksport’s belief in the long-term potential of digital assets as inflation-resistant stores of value. This approach, coupled with the Company’s expanding product portfolio and dealer network, has strengthened its foothold in a rapidly evolving market.

“ This past week marks an inflection point for Worksport’s growth trajectory ,” said Steven Rossi, Chief Executive Officer of Worksport Ltd. “ Our proactive decision to integrate Bitcoin and Ripple into our treasury strategy, coupled with noteworthy sales increases, 117% growth in our dealer network, and encouraging pre-orders volumes of our upcoming AL4 from two leading U.S distributors , reflects our commitment to innovation and long-term value creation. The attention we’ve received from leading crypto custodians further validates our approach, and we’re eager to leverage their expertise to maximize returns on these digital assets by considering unique strategies like crypto staking . ”

Crypto Integration and Industry Recognition

Following the Company’s announcement to adopt BTC and XRP in its corporate treasury, notable players in the cryptocurrency sector took notice. Two leading crypto custodians have approached Worksport with their services, and the Company is now evaluating these proposals to ensure secure, compliant custody of its digital asset holdings. As Worksport prepares to engage in initial BTC and XRP purchases, it is also exploring staking opportunities that could potentially enhance treasury returns . Worksport is actively working towards enabling crypto payments for purchases on its e-commerce platform, www.worksport.com .

Expanding Sales and Dealer Network

• Sales Growth : In the wake of last week’s announcement of a 51% increase in B2C sales and a 60% rise in B2B sales, Worksport is pleased to share that its dealer network has grown by 117% since September 2024. This increase in partners, coupled with the recent boost in brand visibility, positions the Company to further capitalize on robust demand.
  
• Upcoming Product Launches : The Company’s forthcoming AL4 tonneau cover has already secured pre-orders from two leading industry distributors . With the AL4’s scheduled launch approaching, Worksport expects to capture greater market share. Following the AL4, the Company will introduce its SOLIS solar tonneau cover and COR mobile power generation system later in 2025, expanding its portfolio of clean-tech innovations designed to meet the growing need for sustainable energy solutions.
  

Enhanced Visibility Through National Television Exposure

Worksport’s recent appearance on FOX & Friends on December 8, 2024, showcased its upcoming clean-tech products and American-made tonneau covers to a nationwide audience. This high-profile exposure has generated new peripheral opportunities for brand penetration, and even broader market engagement. The positive reception underscores the Company’s potential to convert heightened visibility into tangible growth across its business lines.

Key 2024 Press-Releases

• December 6: Worksport Shares 51% B2C and 60% B2B Sales Growth in November
• December 5: Worksport Adopts Changes To Corporate Treasury
• November 22: Worksport Announces 30% Increase in Production Capacity
• November 21: CEO Insider Purchase; Worksport Investigates Short Selling
• October 29: 200% Growth in B2B Sales; Pre-Order Campaign Initiated For AL4
• October 17: Nasdaq Grants Extension To Regain Compliance
• October 17: $2MM+ Projected Savings From New Strategic Initiative
• September 30: Update On ISO Certification
• September 19: Alpha Launch of SOLIS & COR
• September 11: Worksport COR as an EV Range Extender for Tesla Model 3
• August 14: Record High Revenues; 275% Q2 Growth
• May 8: Worksport Awarded $2.8MM Grant
  

Read all Worksport press releases: [Link to All Press Releases] .

About Worksport

Worksport Ltd. (Nasdaq: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, and NP (Non-Parasitic), hydrogen-based true green energy solutions for the sustainable, clean energy, and automotive industries. Worksport has an active partnership with Hyundai for the SOLIS Solar cover. Additionally, Worksport’s hard-folding cover, designed and manufactured in-house, is compatible with all major truck models and is gaining traction with newer truck makers including the EV sector. Worksport seeks to capitalize on the growing shift of consumer mindsets towards clean energy integrations with its proprietary solar solutions, mobile energy storage systems (ESS), and NP (Non-Parasitic), Hydrogen-based technology. Terravis Energy’s website is terravisenergy.com . For more information, please visit investors.worksport.com .

Connect with Worksport

Please follow the Company’s social media accounts on X (previously Twitter) , Facebook , LinkedIn , YouTube , and Instagram (collectively, the “Accounts”), the links of which are links to external third party websites, as well as sign up for the Company’s newsletters at investors.worksport.com . The Company does not endorse, ensure the accuracy of, or accept any responsibility for any content on these third-party websites other than content published by the Company.

Investors and others should note that the Company announces material financial information to our investors using our investor relations website, press releases, SEC filings, and public conference calls and webcasts. The Company also uses social media to announce Company news and other information. The Company encourages investors, the media, and others to review the information the Company publishes on social media.

The Company does not selectively disclose material non-public information on social media. If there is any significant financial information, the Company will release it broadly to the public through a press release or SEC filing prior to publishing it on social media.

For additional information, please contact:

Investor Relations, Worksport Ltd. T: 1 (888) 554-8789 -128 W: investors.worksport.com W: www.worksport.com E: [email protected]

Forward-Looking Statements

The information contained herein may contain “forward‐looking statements.” Forward‐looking statements reflect the current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” “project,” “envisioned,” “should," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. These statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) supply chain delays; (ii) acceptance of our products by consumers; (iii) delays in or nonacceptance by third parties to sell our products; and (iv) competition from other producers of similar products. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (“SEC”), including, without limitation, our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at www.sec.gov . As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company’s actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. The forward-looking statements made in this press release are made only as of the date of this press release, and the Company undertakes no obligation to update them to reflect subsequent events or circumstances.

KUALA LUMPUR, Malaysia, Dec. 13, 2024 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (“VCI Global” or the “Company”), is setting a target to develop and acquire up to 100 megawatts (MW) of solar photovoltaic (PV) projects across Southeast Asia (SEA) and Europe within the next five years. This expansion is expected to generate approximately US$200 million in revenue over the next 20 years and significantly contribute to VCI Global’s long-term growth.

As part of this initiative, VCI Global plans to source at least 70% of the 100 MW from projects in Malaysia, leveraging key government programs such as the Corporate Renewable Energy Supply Scheme (CRESS). CRESS allows businesses to directly purchase green electricity from renewable energy developers. Through this initiative, VCI Global will supply renewable energy directly to its data center, further enhancing its energy independence while advancing its sustainability goals.

According to Solar Insure, by 2030, data centers are projected to account for 16% of the total U.S. power consumption, a significant rise from just 2.5% a decade ago. This trend highlights solar power as a leading alternative. Combined with advanced battery storage, solar power can provide nearly continuous energy to AI data centers, reducing dependence on grid electricity and fossil fuels. These initiatives will not only contribute to national renewable energy targets but also align with VCI Global’s long-term growth and strategic vision.

In parallel, VCI Global will seek to acquire solar farms in Eastern and Southeastern Europe, targeting 30 MW of solar capacity in these expanding markets. This international expansion supports the Company’s strategy to capitalize on the increasing global demand for clean energy while strengthening its renewable energy portfolio.

The total investment required for these solar initiatives is projected to be US$50 million over five years, with an expected annual revenue of approximately US$10 million over the next 20 years. This sustainable growth strategy will provide long-term, stable returns, reinforcing VCI Global’s commitment to clean energy and delivering value to shareholders.

“In 2025, renewables will become the largest source of electricity generation. By 2028, renewable energy sources will account for over 42% of global electricity generation, with the share of wind and solar PV doubling to 25%. At the same time, the explosive growth of AI has created an unprecedented demand for power. We view solar energy as one of the most promising renewable energy sources and wish to fully capitalize on this opportunity to meet the growing clean energy demand of AI and the world,” said Dato’ Victor Hoo, Group Executive Chairman and CEO of VCI Global.

About VCI Global Limited

VCI Global is a diversified holding company headquartered in Kuala Lumpur, Malaysia. The Company operates through five core businesses: Capital Market Consultancy, Fintech, Real Estate, AI & Robotics, and Cybersecurity. In Capital Market Consultancy, we provide IPO solutions, investor relations (IR) and public relations (PR) consultancy, and M&A consultancy. Our Fintech arm offers a proprietary financing platform. In Real Estate, we offer specialized real estate consultancy services. The AI business delivers GPU servers, GPU cloud computing services, AI and large language model (LLM) solutions, while the Robotics segment focuses on post-harvest robotics systems. Our Cybersecurity segment provides comprehensive cybersecurity consultancy services and solutions. Committed to fostering innovation and delivering exceptional value, VCI Global has established a strong presence across the Asia-Pacific region, the United States, Europe, and the Middle East, driving growth and transformation on a global scale.

For more information on the Company, please log on to https://v-capital.co/ .

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. These forward-looking statements are based only on our current beliefs, expectations, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Therefore, you should not rely on any of these forward-looking statements. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company’s products and the Company’s customers’ economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company’s filings with the United States Securities and Exchange Commission (“SEC”). The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.

CONTACT INFORMATION:

For media queries, please contact:

Landon Capital
[email protected]

WASHINGTON, Dec. 13, 2024 (GLOBE NEWSWIRE) -- ASP Isotopes Inc. NASDAQ: ASPI (“ASP Isotopes” or the “Company”), an advanced materials company dedicated to the development of technology and processes for the production of isotopes for use in multiple industries, today issued the following statement in response to short seller Fuzzy Panda’s purported “report” published on November 26, 2024.

Executive Chairman and Chief Executive Officer, Paul Mann, stated: “ Fuzzy Panda is known for these types of short attacks, which are designed to allow short sellers to profit from a declined stock price. Tellingly, as the so-called “research report” states in its “disclaimer,” Fuzzy Panda and affiliates are short the Company’s stock and “therefore stand to realize significant gains in the event” the Company’s stock price declines, while also disclaiming that “the information it has relied upon” may be inaccurate. The Company’s management believes this short seller’s report contains incomplete and inaccurate information, distortions of facts, flawed analyses, and misleading conclusions. By way of one of many examples, Fuzzy Panda purports to summarize the Company’s “key technology,” but omits any mention of the Company’s aerodynamic separation process technology, which is currently deployed at the Company’s Silicon-28 and Carbon-14 enrichment facilities in Pretoria, South Africa. In addition, we believe Fuzzy Panda’s criticisms of the Company’s laser-based quantum enrichment technology is based upon a comparison to outdated AVLIS technology from the 1990s, which we view to be, at best, misleading. The Company announced recently that it had demonstrated proof of concept using quantum enrichment technology to enrich Ytterbium-176. Once further refinement has been completed, the Company expects to supply enriched Ytterbium-176 to customers from a facility being commissioned in Pretoria, South Africa (anticipated during the course of 2025). Following the signing of an agreement with NECSA (Nuclear Energy Corporation of South Africa) we plan to apply quantum enrichment technology to the enrichment of uranium at Pelindaba in Pretoria, South Africa. We believe the Company’s significant progress in these and other respects is a more reliable indicator of the Company’s prospects than the “inferences and deductions” upon which Fuzzy Panda’s report is based.

ASP Isotopes is exploring its options in response to this attack while continuing to focus on our business, growing revenues and executing on our strategic plan. ”

The Company provides this statement to address certain areas of confusion among investors and customers arising from the Fuzzy Panda report and does not purport to respond to all of Fuzzy Panda’s assertions.

The Company’s Quantum Enrichment Technology and ASP Technology

Fuzzy Panda states that “ASPI Tech is Failed 1990s Tech,” claiming “this is the key technology ASPI is hyping.” In support, Fuzzy Panda asserts that the Company uses outdated AVLIS laser enrichment technology to enrich its isotopes. The Company’s quantum enrichment technology is substantially different from AVLIS, a laser enrichment technique that has been experimented with over the past 40 years. Key differences between the Company’s quantum enrichment technology and AVLIS include a more advanced spectroscopy, different lasers and more advanced beam shaping. The Company is developing quantum enrichment technology to produce enriched Ytterbium-176 (“Yb-176”), Nickel-64, Lithium 6, Lithium-7 and Uranium-235 (“U-235”). The construction of the Company’s first quantum enrichment facility was completed in August 2024, and the Company produced the first semi-finished material of enriched Yb-176 during the commissioning phase of the plant in October 2024. The Company expects to be able to achieve a 99.75% enrichment for Yb-176 and offer highly enriched Yb-176 for commercial sale during 2025.

Appendix B of the Fuzzy Panda “report” includes some basic laser mathematics, suggesting that the lasers that the Company will be using in its quantum enrichment technology as applied to the enrichment of uranium are not powerful enough. First, assuming the Company did intend to use this technology (AVLIS), the analysis in Appendix B is wrong because the excitation of an atom is driven by the difference in energies of a number of photons applied in series, not a single difference in energy. Second, the author of the report has incorrectly deduced that the lasers the Company is currently using for Ytterbium enrichment will also be used for uranium enrichment and will therefore not be capable of supplying enough power. During quantum enrichment, different metals require different combinations of wavelengths, different photon energies, and different beam shapes. Therefore, the laser system for each isotope will be different and specific for that isotope. Wavelengths of light, the photon energies and the beam shaping characteristics for any isotope is highly confidential and proprietary. We believe that Fuzzy Panda’s analysis is based upon erroneous assumptions and, accordingly, results in false or misleading characterizations of the Company’s enrichment technology.

We believe Fuzzy Panda’s conclusions and characterizations of ASP Isotopes’ technology are also misleading by omission. For example, the Company’s aerodynamic separation process technology (“ASP technology”) is designed to enable the production of isotopes used in several industries and is currently deployed in enrichment facilities in South Africa for Carbon-14 and Silicon-28. Notably, the Company’s ASP technology is not even mentioned in the report.

Initiative to Commence Uranium Enrichment in South Africa

In October 2024, we entered into a term sheet with TerraPower, LLC related to the construction of a uranium enrichment facility capable of producing HALEU and the future supply of HALEU to TerraPower. Fuzzy Panda claims that the term sheet “came at Zero Cost to TerraPower,” which is factually incorrect because ASP Isotopes has already invoiced TerraPower following the signing of the term sheet with TerraPower. Fuzzy Panda describes the term sheet as “ likely Non-Binding” as if that fact were hidden, when in reality the Company had previously publicly disclosed in its SEC filings that, with certain exceptions, “the term sheet is non-binding and there is no assurance that the parties will enter into definitive agreements.”

The Company nonetheless believes the term sheet with TerraPower is valuable because it represents the first step towards a two-fold definitive agreement with TerraPower. The term sheet with TerraPower contemplates the parties entering into a definitive agreement, pursuant to which TerraPower would provide funding for the construction of a HALEU production facility. In addition, the parties anticipate entering into a long-term supply agreement for HALEU expected to be produced at this facility, pursuant to which the customer would purchase all HALEU produced at the facility over a 10-year period after the expected completion of the facility in 2027.

The term sheet with TerraPower preceded the signing in November 2024 of a memorandum of understanding (“MOU”) with The South African Nuclear Energy Corporation (Necsa) to collaborate on the research, development and ultimately the commercial production of advanced nuclear fuels. The proposed structure under discussion for the delivery of the objectives of the MOU contemplates the formation of a new entity in South Africa with a board of directors consisting of at least two representatives from ASPI and Necsa. Subject to the receipt of all required permits and licenses to begin enrichment of U-235 in South Africa, it is anticipated that the research, development and ultimate construction of a HALEU production facility will take place at Pelindaba in Pretoria, South Africa’s main nuclear research center and the home of the 20MW research nuclear reactor, SAFARI-1.

Finally, the Report states that, according to an unidentified “former” TerraPower executive, TerraPower rates ASPI “at the bottom in terms of quality.” In TerraPower’s public announcement regarding the term sheet, a current TerraPower executive, Chris Levesque, TerraPower President and CEO, was quoted as saying, “ We are optimistic about ASP Isotopes’ enrichment capabilities and planned timeline to help ensure advanced nuclear energy can achieve its necessary role in meeting climate energy targets. ”

Regulatory Approvals Required for Enrichment of Uranium

One of Fuzzy Panda’s headlines claims that ASP Isotopes lacks a license to enrich uranium from the U.S. Nuclear Regulatory Commission (NRC) and that the licensing process could take 10-15 years. As described herein, the Company’s strategy involves the formation of a new entity in South Africa with The South African Nuclear Energy Corporation (Necsa) to undertake the research, development and ultimate construction of a HALEU production facility at Pelindaba in Pretoria, South Africa’s main nuclear research center. Necsa is a state-owned company established by the Republic of South Africa Nuclear Energy Act in 1999 with a mandate to undertake and promote research and development in the field of nuclear energy and radiation sciences. The NRC would not be the licensing authority for a uranium enrichment facility in South Africa. Therefore, the Company would not need to apply for an NRC license in the United States for such a facility operated by a South African affiliate of the Company. The South Africa nuclear regulatory licensing regime will apply to the Company’s uranium enrichment activities, and the Company will apply for all required permits and licenses to enrich U-235 in South Africa.

Intellectual Property

Fuzzy Panda’s report criticizes the Company because it currently has no patents. Enrichment is among the most sensitive nuclear technologies because it can produce weapons-grade materials. To the extent the Company’s technology developed for the purposes of producing enriched isotopes for use in nuclear medicine or concentrating uranium in the isotope uranium-235 for use in nuclear energy can be applied to the creation or development of weapons-grade materials, then that technology would be highly controlled and subject to limitations on public disclosure or export. Accordingly, patent protection in the United States for such sensitive nuclear technology developed in South Africa would be, in the view of the Company’s management, unusual, if even possible.

As noted in the Company’s SEC filings, the Company has relied exclusively on trade secrets and other intellectual property laws, non-disclosure agreements with our respective employees, consultants, vendors, potential customers and other relevant persons and other measures to protect our intellectual property, and intends to continue to rely on these and other means. While pursuing patents remains part of the Company’s intellectual property protection philosophy and strategy, the advisability of establishing provisional patent rights is continuously assessed on a case-by-case basis in respect of both conceptual aspects and the specific applications thereof. Such assessments are made in consultation with regulatory bodies and with due consideration to the prospects of successfully obtaining patent protection in light of any disclosure constraints that are imposed by such bodies. To date, the Company has not determined that patent protection is appropriate or viable in light of these considerations.

PET Labs Financial Track Record

Fuzzy Panda also incorrectly asserts that PET Labs has annual losses of ~$19.5 - 20 million a year. PET Labs has generated positive EBITDA for the last several years. Fuzzy Panda also incorrectly claims that at the time PET Labs was acquired by the Company (in 4Q 2023) the $2 million paid for the acquisition was likely made to a related party, which is incorrect. At the time of the acquisition, the CEO and owner of PET Labs was not a related party.

The Company’s U.S. Offices

Fuzzy Panda criticizes that ASP Isotopes’ headquarters in the United States was once a virtual office and then a co-working space. ASP Isotopes has had since its inception a minimal physical presence in the United States because it has relied upon external consultants and professional advisors and currently permits remote work arrangements for a limited number of recent hires in the United States. ASP Isotopes has not entered into any lease agreement for executive offices in the United States.

The Company’s South African Enrichment Facilities

Fuzzy Panda states that the “primary location” of the Company’s South African subsidiaries is “1 Melrose Blvd- Unit 19, Johannesburg, South Africa,” but “ASP Isotopes’s SA subsidiaries were NOT actually there.” The cited address is that of the Company’s South African subsidiaries utilized for correspondence, and of Jaltech Pty Ltd, which has been engaged by ASP Isotopes South Africa (Pty) Ltd to provide certain corporate advisory operations for the Company’s South African subsidiaries, including local accounting, tax and payroll services. It is not the address of the Company’s core business operations.

The Company’s core business operations are located in South Africa (as specified below) where, as of November 30, 2024, there are approximately 126 employees, including 26 employees in Research and Development, 50 employees are in construction and manufacturing and 14 employees in general management. The Company is currently in the process of commissioning three isotope enrichment facilities in South Africa. The “multi-isotope” facility, located at 33 Eland Street, Koedoespoort Industrial, Pretoria, has its initial production run designated for enriched Silicon-28. The facility located at Building 29, CSIR Campus, Meiring Naude Road, Brummeria, Pretoria is scheduled to enrich Carbon-14 for use in healthcare and agrochemicals. The facility located at Building 46, CSIR Campus, Meiring Naude Road, Brummeria, Pretoria is scheduled to enrich Ytterbium-176, a critically important raw material for use in the production of radio-oncology therapies. The Company has hosted a group of significant investors and several commercial partners at its facilities in South Africa as recently as November, 2024.

ASP Isotopes Inc. Stockholder Base

One of Fuzzy Panda’s headlines claims that ASP Isotopes has ties to “microcap fraudsters” who are “behind the scenes” or “hiding” in the capital structure. The basic premise is that among the Company’s numerous pre-IPO investors are entities affiliated with family members of individuals who have been subject to SEC charges for violations of securities laws or entities formerly affiliated with such individuals. None of the individuals named in the report or their family members has ever been an officer, director or employee of the Company. The Company regards each of its pre-IPO investors who are not directors or executive officers as passive investors who do not, and have never had, any control or influence over management of the Company. Barry Honig, John Stetson, Jonathan Honig and Titan Multi-Strategy Fund I, Ltd have no role in the management of the Company and Fuzzy Panda’s referencing securities enforcement matters concerning them glosses over that those matters did not involve ASP Isotopes. As of December 11, 2024, the Company’s stockholder base is comprised of approximately 31% institutional and other reputable investors introduced to the Company by leading investment banks and placement agents.

As previously stated in our press release dated December 2, 2024, we value transparency and open communication. We look forward to hosting as many investors as possible at our Investor Access Event in South Africa from January 14-16, 2025. Should you be interested in attending, please email Viktor Petkov at [email protected] as soon as possible to complete the registration process.

ASP Isotopes remains focused on our business and growing revenues, and executing on our strategic plan. We look forward to continuing to drive positive momentum in 2025. The Company believes this short seller’s report is an attempt to profit from a deliberately false picture of our Company, and we encourage our stockholders, customers, counterparties and stakeholders to look past the factual errors, misrepresentations, mischaracterizations and misleading claims.

About ASP Isotopes Inc.

ASP Isotopes Inc. is a development stage advanced materials company dedicated to the development of technology and processes to produce isotopes for use in multiple industries. The Company employs proprietary technology, the Aerodynamic Separation Process (“ASP technology”). The Company’s initial focus is on producing and commercializing highly enriched isotopes for the nuclear medicine and technology industries. The Company also plans to enrich isotopes for the nuclear energy sector using Quantum Enrichment technology that the Company is developing. The Company has isotope enrichment facilities in Pretoria, South Africa, dedicated to the enrichment of isotopes of elements with a low atomic mass (light isotopes).

There is a growing demand for isotopes such as Silicon-28 for enabling quantum computing; Molybdenum-100, Molybdenum-98, Zinc-68, Ytterbium-176, and Nickel-64 for new, emerging healthcare applications, as well as Chlorine-37, Lithium-6, Lithium-7 and Uranium-235 for green energy applications. The ASP Technology (Aerodynamic Separation Process) is ideal for enriching low and heavy atomic mass molecules. For more information, please visit www.aspisotopes.com .

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Forward-looking statements can be identified by words such as “believes,” “plans,” “anticipates,” “expects,” “estimates,” “projects,” “will,” “may,” “might,” and words of a similar nature. Examples of forward-looking statements include, among others but are not limited to, statements relating to the Company’s ability to produce highly enriched Ytterbium-176 and commence supply of enriched Ytterbium-176 to customers, the formation of a new project company with Necsa and the outcome of the project contemplated by the MOU with Necsa, the outcome of the proposed transaction contemplated by the term sheet with TerraPower, the future of the Company’s initiative to commence enrichment of uranium in South Africa, and the future of the Company’s enrichment technologies as applied to uranium enrichment, statements we make regarding expected operating results, such as future revenues and prospects from the potential commercialization of isotopes, future performance under contracts, and our strategies for product development, engaging with potential customers, market position, and financial results. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict, many of which are outside our control. Our actual results, financial condition, and events may differ materially from those indicated in the forward-looking statements based upon a number of factors. Forward-looking statements are not a guarantee of future performance or developments. Investors are strongly cautioned that reliance on any forward-looking statements involves known and unknown risks and uncertainties. Therefore, you should not rely on any of these forward-looking statements. There are many important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements, including the outcomes of various strategies and projects undertaken by the Company; the potential impact of laws or government regulations or policies in South Africa, the United Kingdom or elsewhere; our reliance on the efforts of third parties; our ability to complete the construction and commissioning of our enrichment plants or to commercialize isotopes using the ASP technology or the Quantum Enrichment Process; our ability to obtain regulatory approvals for the production and distribution of isotopes; the financial terms of any current and future commercial arrangements; our ability to complete certain transactions and realize anticipated benefits from acquisitions; contracts, dependence on our Intellectual Property (IP) rights, certain IP rights of third parties; the competitive nature of our industry; and the factors disclosed in Part I, Item 1A. “Risk Factors” of the company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and any amendments thereto and in the company’s subsequent reports and filings with the U.S. Securities and Exchange Commission. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise. No information in this press release should be interpreted as an indication of future success, revenues, results of operation, or stock price. All forward-looking statements herein are qualified by reference to the cautionary statements set forth herein and should not be relied upon.

Contacts

Jason Assad– Investor relations
Email: [email protected]
Telephone: 561-709-3043

AUSTIN, Texas, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Fast Company has recognized Vital Farms (Nasdaq: VITL) for the fourth consecutive year on its list of Brands That Matter . The annual awards program celebrates brands for their marketing efforts that demonstrate purpose, establish cultural relevance, and resonate with consumers and communities in a profound way. Vital Farms’ purpose—to improve the lives of people, animals, and the planet through food—is core to the company’s creative storytelling, which fosters trusted consumer relationships and inspires engagement and loyalty.

“It feels great being recognized as a Brand That Matters. I believe we can do bold work because Vital Farms is a company that matters—we're raising the standards in our food system, caring for animals, providing consumers the transparency they need and deserve, and supporting family farms,” said Kathryn McKeon, Chief Marketing Officer, Vital Farms. “The marketing works because it’s true. That’s an essential part of building a trusted brand. And through our talented in-house team and phenomenal agencies, we have fun bringing these stories to life. I think that shows up in the work.”

Fast Company celebrated Vital Farms as a brand that isn’t just contributing to culture but rather creating it. The brand’s “ Farmer Pause ” campaign was specifically highlighted as work “that was impactful, cleverly conceived and executed, and ultimately consistent with their brand ethos and popular perception.” The campaign, which ran during the holiday 2023 season, featured ads on streaming platforms reminding viewers that farmers don’t get to pause over the holidays. A QR code prompted viewers to write notes thanking Vital Farms farmers. In a testament to the emotional connection the brand has built between its stakeholders, consumers submitted thousands of thank you notes. Vital Farms aired several of the messages on radio ads across communities its farmers live in so they could hear the gratitude firsthand.

The honorees celebrated on this year’s list, including Vital Farms and other powerhouse brands like Nike, Tony’s Chocolonely, and King Arthur Baking Company, were judged by Fast Company editors on criteria including emotional resonance, cultural significance, timeliness, and originality. See the complete list in the upcoming winter print edition of Fast Company on newsstands beginning December 17, 2024, or online at fastcompany.com/brands-that-matter/list .

ABOUT VITAL FARMS:
Vital Farms (Nasdaq: VITL), a Certified B Corporation, offers a range of ethically produced foods nationwide. Started on a single farm in Austin, Texas, in 2007, Vital Farms is now a national consumer brand that works with over 375 family farms and is the leading U.S. brand of pasture-raised eggs by retail dollar sales. Vital Farms’ ethics are exemplified by its focus on the humane treatment of farm animals and sustainable farming practices. In addition, as a Delaware public benefit corporation, Vital Farms prioritizes the long-term benefits of each of its stakeholders, including farmers and suppliers, customers and consumers, communities and the environment, and crew members and stockholders. Vital Farms’ products, including shell eggs, butter, hard-boiled eggs, and liquid whole eggs, are sold in approximately 24,000 stores nationwide. Vital Farms pasture-raised eggs can also be found on menus at hundreds of foodservice operators across the country. For more information, visit https://vitalfarms.com/ .

ABOUT FAST COMPANY:
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. The editor-in-chief is Brendan Vaughan. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication, Inc., and can be found online at fastcompany.com.

CONTACT:

Media:
Rob Discher
[email protected]

Investors:
Anthony Bucalo
[email protected]

BOCA RATON, Fla., Dec. 13, 2024 (GLOBE NEWSWIRE) -- FOREWARN, LLC, a red violet company (NASDAQ: RDVT) and the leading provider of real-time information solutions for real estate agents, today announced that Bluegrass REALTORS ^® will offer FOREWARN ^® services to its 4,000+ members it serves throughout Central and Southern Kentucky and the surrounding areas to promote proactive real estate agent safety.

Available both online and through a mobile application, FOREWARN analyzes billions of data points and provides users with the ability to mitigate risks by verifying identity, searching for criminal histories, and validating information provided by potential clients -- using just a phone number. FOREWARN allows agents to properly and safely plan for showings with a higher level of confidence.

The FOREWARN services offered by Bluegrass REALTORS ^® are available to the 4,000+ members at no additional cost to individual agents.

"Ensuring the safety of our members and combating fraud are core concerns of our association," stated Richard Gibbens, CEO of Bluegrass REALTORS ^® . "Providing our members with streamlined identity verification via FOREWARN helps us address these critical areas while delivering exceptional value. We are delighted to empower our members with this essential tool."

Existing Bluegrass REALTORS ^® members will receive specific instructions on how to move forward with activating their FOREWARN subscription as an included benefit.

All other real estate agencies, agents, and appraisers can learn more about FOREWARN at www.forewarn.com .

About FOREWARN ^®
At FOREWARN, we bring instant knowledge through innovative solutions to ensure safer engagements and smarter interactions. Leveraging powerful analytics and a massive data repository, our solutions enable organizations to gain real-time knowledge, for purposes such as verifying identity, searching for criminal histories, and validating information. Risk assessment and due diligence at your fingertips™.

RELATED LINKS: www.forewarn.com

About red violet ^®
At red violet, we build proprietary technologies and apply analytical capabilities to deliver identity intelligence. Our technology powers critical solutions, which empower organizations to operate with confidence. Our solutions enable the real-time identification and location of people, businesses, assets and their interrelationships. These solutions are used for purposes including identity verification, risk mitigation, due diligence, fraud detection and prevention, regulatory compliance, and customer acquisition. Our intelligent platform, CORE™, is purpose-built for the enterprise, yet flexible enough for organizations of all sizes, bringing clarity to massive datasets by transforming data into intelligence. Our solutions are used today to enable frictionless commerce, to ensure safety, and to reduce fraud and the concomitant expense borne by society. For more information, please visit www.redviolet.com .

FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking statements,” as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as “expects,” “plans,” “projects,” “will,” “may,” “anticipate,” “believes,” “should,” “intends,” “estimates,” and other words of similar meaning. Such forward looking statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control and which may cause results to differ materially from expectations, including whether FOREWARN will address critical safety areas for Bluegrass REALTORS ^® members. Readers are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release and are advised to consider the factors listed above together with the additional factors under the heading “Forward-Looking Statements” and “Risk Factors” in red violet’s SEC Filings. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

Investor Relations Contact:

Camilo Ramirez
Red Violet, Inc.
561-757-4500
[email protected]

WEST PALM BEACH, Fla., Dec. 13, 2024 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (Nasdaq: SUNS) (“SUNS” or the “Company”) today announced that it has committed $32.0 million, of which the Company funded $29.9 million, to a $57.0 million senior loan originated by an affiliate on the TCG Real Estate platform. This loan is for the refinancing of The Loren at Lady Bird Lake (the “Project” or “The Loren”), a luxury boutique hotel located in Austin, Texas. The Sponsor is The Loren Group, a leading real estate company that specializes in developing, owning, and managing luxury hotels in high-demand destination markets. JLL Capital Market’s Debt Advisory team representing the borrower was led by Wally Reid and Scott Dickey.

The Loren is a 108-key boutique luxury hotel at 1211 W Riverside Drive, part of a mixed-use project that includes 24 condominiums, two restaurants, a spa, fitness center, rooftop terrace with an infinity pool, and event space with sweeping lake and city views. Situated on a prime 1.5-acre site along the south bank of Lady Bird Lake, the Project offers a tranquil retreat while remaining within easy reach of downtown Austin’s top attractions, including Zilker Park and the South Congress district. This location provides guests with unmatched access to the heart of Austin’s cultural and recreational offerings, combining luxury, convenience, and scenic surroundings in one destination.

Austin’s growing economy, fueled by technology, finance, and tourism, has made it a premier destination for business and leisure travelers. Major events like SXSW and the Formula 1 United States Grand Prix draw millions of visitors annually, driving demand for luxury accommodations, like the Loren.

“The Loren is a standout property that captures the essence of Austin’s charm and sophistication,” said Brian Sedrish, Chief Executive Officer of SUNS. “With its ideal setting by Lady Bird Lake and luxury amenities, we believe this investment will elevate the Austin experience for guests and strengthen our portfolio in a vibrant, growing market.”

About Sunrise Realty Trust, Inc.
Sunrise Realty Trust, Inc. (Nasdaq: SUNS) is an institutional commercial real estate lender providing flexible financing solutions to sponsors of commercial real estate located in the Southern United States. We focus on transitional commercial real estate business plans with opportunities for near-term value creation, collateralized by top-tier real property assets in established Southern cities and Southern cities presenting strong growth fundamentals. For additional information regarding the Company, please visit www.sunriserealtytrust.com .

About TCG Real Estate
TCG Real Estate refers to a group of affiliated CRE-focused debt funds, including a Nasdaq-listed mortgage REIT, Sunrise Realty Trust, Inc. (NASDAQ: SUNS), and private mortgage REIT, Southern Realty Trust, Inc. The funds provide flexible financing on transitional CRE properties that present opportunities for near-term value creation, with a focus on top-tier CRE assets in primary and secondary metropolitan areas of the Southern U.S.

Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the Company’s current views and projections with respect to, among other things, the Company’s beliefs with respect to the Loren’s positioning in the market, and cash flows and returns related to investments in hospitality real estate projects. All statements other than statements of historical fact, are forward-looking statements. The Company’s forward-looking statements are generally accompanied by words such as “intend,” “will,” “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “potential,” “plan,” “goal” or other words that convey the uncertainty of future events or outcomes. Forward-looking statements contained in this press release speak only as of the date of this press release. The Company disclaims any obligation to update these statements unless required by law, and the Company cautions you not to rely on them unduly. The Company has based these forward-looking statements on its current expectations and assumptions about future events, which the Company considers reasonable. However, these forward-looking statements are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and beyond the Company’s control. Certain factors, risks and uncertainties discussed under the caption “Risk Factors” in the Company’s registration statement on Form 10 and subsequent filings available on the SEC’s website could cause actual results and performance to differ materially from those set forth in or implied by such forward-looking statements.

Investor Relations Contact:
Robyn Tannenbaum & Lana Ping
561-510-2293
[email protected]

Media Contact:
Profile Advisors
Rich Myers & Rachel Goun
347-774-1125
[email protected]

WEST PALM BEACH, Fla., Dec. 13, 2024 (GLOBE NEWSWIRE) -- Advanced Flower Capital Inc. (f/k/a AFC Gamma, Inc.) (Nasdaq:AFCG) (“AFC”) today announced its dividend for the quarter ending December 31, 2024.

The Board of Directors of AFC declared a quarterly dividend of $0.33 for the quarter ending December 31, 2024 per outstanding share of common stock, payable on January 15, 2025 to the common stockholders of record on December 31, 2024. The December quarterly dividend is in line with the September quarterly dividend.

About Advanced Flower Capital, Inc.

Advanced Flower Capital Inc. (Nasdaq: AFCG) is a leading commercial mortgage REIT that provides institutional loans to state law compliant cannabis operators in the U.S. Through the management team’s deep network and significant credit and cannabis expertise, AFC originates, structures, underwrites and manages loans ranging from $10 million to over $100 million, typically secured by quality real estate assets, license value and cash flows. It is based in West Palm Beach, Florida.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the company’s current views and projections with respect to, among other things, operating results and borrower activity.  All statements other than historical facts, are forward-looking statements. Words such as “believes,” “expects,” “will,” “intends,” “plans,” “guidance,” “estimates,” “projects,” “anticipates,” and “future” or similar expressions are intended to identify forward-looking statements.  These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions and are not guarantees of future performance, conditions or results.  Certain factors, risks and uncertainties discussed under the caption “Risk Factors” and elsewhere in AFC’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings, could cause actual results and performance to differ materially from those projected in these forward-looking statements.

Investor Relations Contact:
Robyn Tannenbaum
(561) 510-2293
[email protected]

Media Contact:
Profile Advisors
Rich Myers and Rachel Goun
(347) 343-2999
[email protected]

BRANFORD, Conn., Dec. 13, 2024 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE: SACH) (the “Company”), a mortgage REIT that specializes in originating, underwriting, funding, servicing, and managing a portfolio of loans secured by first mortgages on real property, announced today that it is appointing board of directors’ member and audit committee member Jeffrey C. Walraven, Interim Chief Financial Officer. Nicholas Marcello, the Company’s Chief Financial Officer, informed the Company that he was resigning to pursue a non-REIT industry opportunity. Mr. Marcello will remain available through December 31, 2024 to provide assistance to ensure a successful and seamless transition. The Company confirms that there are no disagreements with Mr. Marcello regarding the accuracy of the Company's financial reporting or accounting practices. The Company will begin its search for a new Chief Financial Officer immediately. Mr. Walraven will remain a member of the Company’s board of directors, but will resign as a member of the Audit, Compensation and the Nominating and Corporate Governance committees effective immediately.

“Over the past few years, we have significantly strengthened our finance and accounting teams, and we believe our audit committee co-chair, with extensive financial and mortgage REIT experience, will serve the Company well during the search for a permanent replacement,” stated John L. Villano, President and Chief Executive Officer of Sachem Capital.   “Nick has been an important part of the Company’s evolution since he joined Sachem more than four years ago, helping to scale the Company, improve its financial and capital markets strategies while leading the effort to develop a strong financial team. On behalf of the board of directors and personally, I want to wish Nick great success in his new endeavor.”

Mr. Marcello said, “I am proud of all that we have accomplished during my time with the Company, and I can’t thank them enough for the opportunity they’ve provided me. Sachem has an incredibly talented team and I’m grateful to have worked alongside each of them to help the Company work towards its strategic and financial goals.”

Mr. Walraven has extensive experience with private and public real estate companies working on matters including capital markets, accounting and finance. Mr. Walraven has served as the Chief Operating Officer, a director and co-founder of Freehold Properties, Inc., a REIT that historically financed cannabis-related real estate, since its formation in May 2019, and has since transitioned its portfolio acquisition focus in 2024 to capital finance of premium vineyard real estate.

He has also served as an independent director and member of the audit committee of Broad Street Realty, Inc. (OTCQX: BRST), a real estate company that owns, operates, develops, and redevelops primarily essential grocery-anchored shopping centers and mixed-use properties, since 2023. From January 2014 to May 2019, Mr. Walraven served as Executive Vice President and Chief Financial Officer of MedEquities Realty Trust, Inc. (formerly, NYSE: MRT), an internally managed healthcare REIT that was initially funded privately in July 2014, completed an initial public offering on the New York Stock Exchange in September 2016 and was subsequently sold to Omega Healthcare Investors, Inc. in May 2019.

From 2006 to 2013, Mr. Walraven held several positions with BDO USA, LLP, most recently as an assurance managing partner of the Memphis office, where his primary responsibilities included providing core and peripheral assurance services and business operational and tax consulting services. Mr. Walraven has over 20 years of public accounting experience, serving many public REIT clients since 1999. Mr. Walraven worked extensively with publicly traded companies on all aspects of compliance with Securities and Exchange Act filings, including quarterly, annual and special reports, and compliance relating to acquisitions, dispositions and securities offerings. Mr. Walraven has had signing engagement partner responsibility for numerous public and private securities offerings by REITs and other clients, including initial public offerings, secondary offerings and private placements.

Mr. Walraven holds a Bachelor’s degree in Financial Management from Bob Jones University and a Masters of Professional Accountancy from Clemson University. Additionally, Mr. Walraven previously held his CPA license in multiple states.

About Sachem Capital Corp

Sachem Capital Corp. is a mortgage REIT that specializes in originating, underwriting, funding, servicing, and managing a portfolio of loans secured by first mortgages on real property. It offers short-term (i.e., three years or less) secured, nonbanking loans to real estate investors to fund their acquisition, renovation, development, rehabilitation, or improvement of properties. The Company’s primary underwriting criteria is a conservative loan to value ratio. The properties securing the loans are generally classified as residential or commercial real estate and, typically, are held for resale or investment. Each loan is secured by a first mortgage lien on real estate and is personally guaranteed by the principal(s) of the borrower. The Company also makes opportunistic real estate purchases apart from its lending activities.

Forward Looking Statements

This press release may contain forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, are forward-looking statements. Such forward-looking statements are subject to several risks, uncertainties and assumptions as described in the Annual Report on Form 10-K for 2023 filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 1, 2024 and the Quarterly Report on Form 10-Q for the quarter ended June 30, 2024 filed with the SEC on August 14, 2024. Because of these risks, uncertainties and assumptions, any forward-looking events and circumstances discussed in this press release may not occur. You should not rely upon forward-looking statements as predictions of future events. Neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company disclaims any duty to update any of these forward-looking statements. All forward-looking statements attributable to the Company are expressly qualified in their entirety by these cautionary statements as well as others made in this press release. You should evaluate all forward-looking statements made by the Company in the context of these risks and uncertainties.

Investor & Media Contact:

Email: [email protected]

SANTA CLARA, Calif., Dec. 13, 2024 (GLOBE NEWSWIRE) -- Applied Materials, Inc. today announced that its Board of Directors has approved a quarterly cash dividend of $0.40 per share payable on the company’s common stock. The dividend is payable on March 13, 2025 to shareholders of record as of Feb. 20, 2025.

The cash dividend is a key component of Applied’s capital allocation strategy. In March 2024, Applied announced a 25-percent increase in the dividend per share, from $0.32 to $0.40, marking the seventh consecutive year that the company has increased its dividend. Over the past 10 years, Applied’s dividend per share has grown at a compound annual growth rate of approximately 15 percent.

In the fourth quarter of fiscal 2024, Applied distributed $1.8 billion to shareholders through dividends and share repurchases. The company had approximately $8.9 billion remaining in its share repurchase authorization at the end of the period.

Forward-Looking Statements
This press release may contain forward-looking statements, express or implied, regarding future rates of cash dividends. While we expect to continue to pay dividends in the future, the declaration of any future dividends or dividends at any particular rate is subject to the discretion of the Board of Directors and will depend on our financial condition, results of operations, capital requirements, business conditions and other factors, as well as a determination by the Board of Directors that dividends are in the best interests of our stockholders. All forward-looking statements are based on management’s current estimates, projections and assumptions, and we assume no obligation to update them.

About Applied Materials
Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. Our expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality. At Applied Materials, our innovations make possible a better future. Learn more at www.appliedmaterials.com .

Contact:
Ricky Gradwohl (editorial/media) 408.235.4676
Liz Morali (financial community) 408.986.7977

CHARLOTTE, N.C., Dec. 13, 2024 (GLOBE NEWSWIRE) -- DENTSPLY SIRONA Inc. (“Dentsply Sirona” or the "Company") (Nasdaq: XRAY) announced that its Board of Directors declared a quarterly cash dividend of $0.16 per share of common stock, an indicated annual rate of $0.64 per share. The dividend is payable on January 10, 2025, to holders of record as of December 27, 2024.

About Dentsply Sirona

Dentsply Sirona is the world’s largest manufacturer of professional dental products and technologies, with over a century of innovation and service to the dental industry and patients worldwide. Dentsply Sirona develops, manufactures, and markets a comprehensive solutions offering including dental and oral health products as well as other consumable medical devices under a strong portfolio of world class brands. Dentsply Sirona’s products provide innovative, high-quality and effective solutions to advance patient care and deliver better and safer dental care. Dentsply Sirona’s headquarters is located in Charlotte, North Carolina. The Company’s shares are listed in the United States on Nasdaq under the symbol XRAY. Visit www.dentsplysirona.com for more information about Dentsply Sirona and its products.

Contact Information

Investors:
Andrea Daley
Vice President, Investor Relations
+1-704-591-8631
[email protected]

• The Committee for Medicinal Products for Human Use (CHMP) has recommended the approval of acoramidis in the EU based on positive results from the Phase 3 ATTRibute-CM study; final approval decision, typically consistent with the CHMP recommendation, is expected from the European Commission within the coming months
  
• Acoramidis, a near-complete (≥90%) stabilizer of transthyretin (TTR), was approved on November 22, 2024, by the U.S. Food and Drug Administration (FDA) as Attruby™ to reduce cardiovascular death and cardiovascular-related hospitalization in ATTR-CM; Attruby™ is the first and only approved ATTR-CM treatment in the United States that achieves near-complete stabilization
  
• In ATTRibute-CM, acoramidis demonstrated the most rapid benefit seen in any Phase 3 study of ATTR-CM to date:
  
  
  • In as few as 3 months, the time to first event (all-cause mortality (ACM) or cardiovasacular-related hospitalization (CVH)) durably separated relative to placebo
    
  • A 42% reduction in composite ACM and recurrent CVH events relative to placebo at Month 30
  • A 50% reduction in the cumulative frequency of CVH events relative to placebo at Month 30
    
• Relative increases in serum TTR concentrations resulting from greater TTR stability have been associated with reduced risk of all-cause and cardiovascular mortality in the general population in recent literature ¹
  

PALO ALTO, Calif., Dec. 13, 2024 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (Nasdaq: BBIO) (“BridgeBio” or the “Company”), a new type of biopharmaceutical company focused on genetic diseases, announced today that the Committee for Medicinal Products for Human Use (CHMP) has adopted a positive opinion recommending marketing authorization in the European Union (EU) for acoramidis for the treatment of wild-type or variant transthyretin amyloidosis in adult patients with cardiomyopathy (ATTR-CM). Acoramidis is a selective small molecule, orally administered near-complete (≥90%) transthyretin (TTR) stabilizer. ATTR-CM is a progressive fatal disease that presents as an infiltrative, restrictive cardiomyopathy resulting in heart failure. In the Phase 3 study ATTRibute-CM, acoramidis showed clear benefits on cardiovascular outcomes.

The final approval decision, typically consistent with the CHMP recommendation, is expected from the European Commission in the coming months. Acoramidis was approved by the FDA on November 22, 2024 as Attruby™, the first and only approved product for adults with ATTR-CM in the United States with a label specifying near-complete stabilization of TTR.

The positive CHMP opinion for acoramidis is based on the positive ATTRibute-CM Phase 3 study results. The study investigated the efficacy and safety of acoramidis given twice daily compared with placebo, in subjects with ATTR-CM. The study met its primary clinical endpoints by significantly reducing cardiovascular-related hospitalization, improving survival, and preserving functional capacity and quality of life for patients in need.

“We are encouraged by the CHMP’s positive recommendation of acoramidis and the step forward this represents for the patient community,” said Julie Miller Everett, Chief Business Officer for BridgeBio Cardiovascular. “We are excited to work with Bayer to make acoramidis available to patients in Europe upon approval by the European Commission, which we are looking forward to in early 2025.”

Since March 2024, BridgeBio and Bayer have pursued a collaboration for acoramidis. BridgeBio holds the marketing rights for acoramidis in the U.S., while Bayer holds the marketing rights for the product in Europe. This partnership leverages Bayer’s long legacy of expertise in cardiovascular disease and its established European cardiovascular infrastructure paired with BridgeBio’s leadership in the emerging field of ATTR-CM. Pending European Commission approval, Bayer plans to launch acoramidis in Europe in the first half of 2025.

¹ Christoffersen M et al. Transthyretin Tetramer Destabilization and Increased Mortality in the General Population. JAMA Cardiol. 2024 Dec 4:e244102.

About Attruby™ (acoramidis)
Attruby is the only near-complete (≥90%) stabilizer of Transthyretin (TTR) approved in the U.S. for the treatment of adult patients with ATTR-CM to reduce cardiovascular death and cardiovascular-related hospitalization. Attruby was generally well-tolerated. The most common side effects were mild and included diarrhea and abdominal pain that were resolved without drug discontinuation. BridgeBio offers an extensive suite of programs to help patients access our medicines.

About BridgeBio
BridgeBio is a new type of biopharmaceutical company founded to discover, create, test and deliver transformative medicines to treat patients who suffer from genetic diseases and cancers with clear genetic drivers. BridgeBio’s pipeline of development programs ranges from early science to advanced clinical trials. BridgeBio was founded in 2015 and its team of experienced drug discoverers, developers, and innovators are committed to applying advances in genetic medicine to help patients as quickly as possible. For more information visit bridgebio.com and follow us on LinkedIn and Twitter .

BridgeBio Forward-Looking Statements
This press release contains forward-looking statements. Statements in this press release may include statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), which are usually identified by the use of words such as “anticipates,” “believes,” “continues,” “estimates,” “expects,” “hopes,” “intends,” “may,” “plans,” “projects,” “remains,” “seeks,” “should,” “will,” and variations of such words or similar expressions. BridgeBio intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act. These forward-looking statements, including statements relating to the impact of acoramidis on clinical outcomes, potential benefits of acoramidis, and the potential outcomes and expected timing of regulatory reviews and approvals by the European Medicines Agency and European Commission, reflect BridgeBio’s current views about its plans, intentions, expectations and strategies, which are based on the information currently available to BridgeBio and on assumptions BridgeBio has made. Although BridgeBio believes that its plans, intentions, expectations and strategies as reflected in or suggested by those forward-looking statements are reasonable, BridgeBio can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a number of risks, uncertainties and assumptions, including, but not limited to the risks associated with BridgeBio’s dependence on third parties for development, the risks regulatory authorities may require additional studies or data to support commercialization of acoramidis, data and results may not meet regulatory requirements or otherwise be sufficient for further development, regulatory review or approval, other regulatory agencies not agreeing with BridgeBio’s regulatory approval strategies, components of BridgeBio’s filings, such as clinical trial designs, conduct and methodologies, or the sufficiency of data submitted, the continuing success of its collaborations, and uncertainty regarding any impacts due to global health emergencies, including delays in regulatory review, manufacturing and supply chain interruptions, adverse effects on healthcare systems and disruption of the global economy, the impacts of current macroeconomic and geopolitical events, including changing conditions from hostilities in Ukraine and in Israel and the Gaza Strip, increasing rates of inflation and changing interest rates, on BridgeBio’s business operations and expectations, as well as those risks set forth in the Risk Factors section of BridgeBio’s most recent Annual Report on Form 10-K and Quarterly Report on From 10-Q and its other filings with the U.S. Securities and Exchange Commission. Moreover, BridgeBio operates in a very competitive and rapidly changing environment in which new risks emerge from time to time. These forward-looking statements are based upon the current expectations and beliefs of BridgeBio’s management as of the date of this press release and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Except as required by applicable law, BridgeBio assumes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

BridgeBio Media Contact:
Vikram Bali
[email protected]
(650)-789-8220

WESTLAKE VILLAGE, Calif., Dec. 13, 2024 (GLOBE NEWSWIRE) -- Genelux Corporation (NASDAQ: GNLX), a late clinical-stage immuno-oncology company, today announced that Thomas Zindrick , President, CEO and Chairman of the Board will participate in a virtual fireside chat with H.C. Wainwright & Co. on December 16, 2024.

Biotech Equity Research Analyst, Emily Bodnar, will moderate the HCW@Home session which is scheduled to begin at 11:00 a.m. ET. The discussion will focus on the company’s clinical program of its lead candidate, Olvi-Vec, including its ongoing Phase 3 registration trial in platinum resistant/refractory ovarian cancer (PRROC), Phase 1b/2 trial in small-cell lung cancer (SCLC) and Phase 2 trial in non-small cell lung cancer (NSCLC). To join, please register at https://ct.to/n900Z9K . An archived replay will be available for approximately 90 days following the event on the company’s IR page.

About Genelux Corporation
Genelux is a late clinical-stage biopharmaceutical company focused on developing a pipeline of next-generation oncolytic immunotherapies for patients suffering from aggressive and/or difficult-to-treat solid tumor types. The Company's most advanced product candidate, Olvi-Vec (olvimulogene nanivacirepvec), is a proprietary, modified strain of the vaccinia virus. Olvi-Vec currently is being evaluated in OnPrime/GOG-3076, a multi-center, randomized, open-label Phase 3 registrational trial evaluating the efficacy and safety of Olvi-Vec in combination platinum-doublet + bevacizumab compared with physician's choice of chemotherapy and bevacizumab in patients with platinum-resistant/refractory ovarian cancer. The core of Genelux's discovery and development efforts revolves around its proprietary CHOICE™ platform from which the Company has developed an extensive library of isolated and engineered oncolytic vaccinia virus immunotherapeutic product candidates, including Olvi-Vec. For more information, please visit www.genelux.com and follow us on Twitter @Genelux_Corp and on LinkedIn .

Investor and Media Contacts

Ankit Bhargava, MD
Allele Communications, LLC
[email protected]

Source: Genelux Corporation

BOSTON, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Monte Rosa Therapeutics, Inc. (Nasdaq: GLUE), a clinical-stage biotechnology company developing novel molecular glue degrader (MGD)-based medicines, today announced the appointment of Eric A. Hughes, M.D, Ph.D., to its Board of Directors. Dr. Hughes is currently Executive Vice President, Global R&D and Chief Medical Officer of Teva Pharmaceuticals and brings decades of biopharmaceutical industry leadership experience to Monte Rosa.

“I am very excited to welcome Dr. Eric Hughes to the Monte Rosa Board of Directors,” said Markus Warmuth, M.D., Chief Executive Officer of Monte Rosa Therapeutics. “Eric brings extensive experience building and leading highly productive R&D organizations and shepherding important new therapeutics through clinical development to improve the lives of patients. In light of our expansion into new disease areas, in particular immunology and inflammation, he will be a tremendous asset to our organization as we continue to advance and expand our pipeline of differentiated molecular glue degrader-based medicines.”

Dr. Hughes currently serves as Executive Vice President, Global R&D and Chief Medical Officer of Teva Pharmaceuticals. Prior to joining Teva, he was Senior Vice President of Clinical Development and Translational Medicine at Vertex Pharmaceuticals. Previously, he was Global Development Unit Head for Immunology, Hepatology and Dermatology at Novartis and held several executive and senior positions at Bristol Myers Squibb, including Head of Virology, Fibrotic Diseases, Genetically Defined Diseases, Autoimmunity, and Cardiology Discovery Medicine, Exploratory Clinical & Translational Research. During the COVID-19 pandemic, Dr. Hughes served as Co-Chair of the Therapeutics Clinical Working Group for the Accelerating COVID-19 Therapeutic Interventions and Vaccines public-private partnership at the National Institutes of Health. He received his M.D. and Ph.D. from Yale School of Medicine.

"Monte Rosa has truly become the leader in the burgeoning space of molecular glue degraders and I’m honored to join the Board. The depth of the pipeline and the recent program advancements in new therapeutic areas are notable – evidence that the QuEEN™ discovery engine can address a broad range of targets and therapeutic areas,” said Dr. Hughes. “I’m particularly inspired by the company’s focus on tackling undruggable targets, which offers immense potential for transforming patient care. I look forward to supporting Monte Rosa and their goal to deliver innovative therapies that make a meaningful difference for patients."

About Monte Rosa
Monte Rosa Therapeutics is a clinical-stage biotechnology company developing highly selective molecular glue degrader (MGD) medicines for patients living with serious diseases in the areas of oncology, autoimmune and inflammatory diseases, and more. MGDs are small molecule protein degraders that have the potential to treat many diseases that other modalities, including other degraders, cannot. Monte Rosa’s QuEEN™ (Quantitative and Engineered Elimination of Neosubstrates) discovery engine combines AI-guided chemistry, diverse chemical libraries, structural biology, and proteomics to identify degradable protein targets and rationally design MGDs with unprecedented selectivity. The QuEEN discovery engine enables access to a wide-ranging and differentiated target space of well-validated biology across multiple therapeutic areas. Monte Rosa has developed the industry’s leading pipeline of MGDs, which spans oncology, autoimmune and inflammatory disease and beyond. Monte Rosa has a global license agreement with Novartis to advance VAV1-directed molecular glue degraders and a strategic collaboration with Roche to discover and develop MGDs against targets in cancer and neurological diseases previously considered impossible to drug. For more information, visit www.monterosatx.com.

Investors
Andrew Funderburk
[email protected]

Media
Cory Tromblee, Scient PR
[email protected]

BOSTON, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT , Inc. (NYSE: PLYM) (the “Company”) today announced that its board of directors has declared a regular quarterly cash dividend of $0.24 per share of common stock for the fourth quarter of 2024. The dividend, which equates to an annualized rate of $0.96 per common share, is payable on January 31, 2025, to stockholders of record as of the close of business on December 31, 2024.

About Plymouth

Plymouth Industrial REIT, Inc. (NYSE: PLYM) is a full service, vertically integrated real estate investment company focused on the acquisition, ownership and management of single and multi-tenant industrial properties. Our mission is to provide tenants with cost effective space that is functional, flexible and safe.

Contact:
Tripp Sullivan
SCR Partners
[email protected]

JERICHO, N.Y., Dec. 13, 2024 (GLOBE NEWSWIRE) -- Kimco Realty Corporation (NYSE: KIM) (the “Company”) today announced the final results of its tender offer to purchase for cash any and all of its outstanding depositary shares (each, a “Security,” and collectively, the “Securities”) representing 1/1,000 of a share of the Company’s 7.25% Class N Cumulative Convertible Perpetual Preferred Stock, par value $1.00 per share (the “Class N Preferred Stock”), at a price per Security of $62.00, plus any accrued and unpaid dividends (the “Offer”), and concurrent consent solicitation (the “Consent Solicitation”) upon the terms and subject to the conditions set forth in the Company's Offer to Purchase and Consent Solicitation, dated November 4, 2024 (as amended or supplemented from time to time, the “Offer to Purchase and Consent Solicitation”). The Offer and Consent Solicitation expired at 5:00 p.m., New York City time, on December 12, 2024.

In accordance with the terms and conditions of the Offer and Consent Solicitation, and based on the final count by the Tender Agent (as defined below) for the Offer and Consent Solicitation, the Company accepted for purchase, at a purchase price of $62.00 per Security, plus accrued and unpaid dividends, a total of 409,772 Securities properly tendered and not properly withdrawn before the expiration date. The Securities accepted for repurchase represent approximately 22.17% of the outstanding Securities as of December 12, 2024. In connection with the Consent Solicitation, as of the expiration date, holders of less than two-thirds of the outstanding shares of Class N Preferred Stock (which corresponds to holders of less than two-thirds of the outstanding Securities) have consented to the proposed amendment to the charter of the Company. As a result, the required consents have not been obtained, and the proposed amendment to the charter of the Company will not be effectuated. The Tender Agent will issue payment for the Securities properly tendered and accepted for purchase in the Offer and Consent Solicitation on December 16, 2024.

J.P. Morgan Securities LLC acted as dealer manager (in such capacity, the “Dealer Manager”) and consent solicitation agent (in such capacity, the “Solicitation Agent”) for the Offer and Consent Solicitation. D.F. King & Co., Inc., acted as information agent (in such capacity, the “Information Agent”) and Equiniti Trust Company, LLC acted as tender agent (in such capacity, the “Tender Agent”) for the Offer and Consent Solicitation. Please direct questions, including questions concerning settlement procedures and requests for additional copies of the offer materials, including the letter of transmittal and consent, to either the Dealer Manager and Solicitation Agent at (212) 622-4253, the Information Agent at [email protected] or the Tender Agent at 1-866-577-8695.

About Kimco Realty ^®

Kimco Realty ^® (NYSE: KIM) is a real estate investment trust (REIT) and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States. The company’s portfolio is strategically concentrated in the first-ring suburbs of the top major metropolitan markets, including high-barrier-to-entry coastal markets and rapidly expanding Sun Belt cities. Its tenant mix is focused on essential, necessity-based goods and services that drive multiple shopping trips per week. Publicly traded on the NYSE since 1991 and included in the S&P 500 Index, the company has specialized in shopping center ownership, management, acquisitions, and value-enhancing redevelopment activities for more than 60 years. With a proven commitment to corporate responsibility, Kimco Realty is a recognized industry leader in this area. As of September 30, 2024, the company owned interests in 567 U.S. shopping centers and mixed-use assets comprising 100.5 million square feet of gross leasable space. The company announces material information to its investors using the company’s investor relations website (investors.kimcorealty.com), SEC filings, press releases, public conference calls, and webcasts. The company also uses social media to communicate with its investors and the public, and the information the company posts on social media may be deemed material information. Therefore, the company encourages investors, the media, and others interested in the company to review the information that it posts on the social media channels, including Facebook (www.facebook.com/kimcorealty), Twitter (www.twitter.com/kimcorealty) and LinkedIn (www.linkedin.com/company/kimco-realty-corporation). The list of social media channels that the company uses may be updated on its investor relations website from time to time.

Safe Harbor Statement

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements, which are based on certain assumptions and describe the Company’s future plans, strategies and expectations, are generally identifiable by use of the words “believe,” “expect,” “intend,” “commit,” “anticipate,” “estimate,” “project,” “will,” “target,” “plan,” “forecast” or similar expressions. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which, in some cases, are beyond the Company’s control and could materially affect actual results, performances or achievements. Factors which may cause actual results to differ materially from current expectations include, but are not limited to, (i) general adverse economic and local real estate conditions, (ii) the impact of competition, including the availability of acquisition or development opportunities and the costs associated with purchasing and maintaining assets, (iii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or a general downturn in their business, (iv) the reduction in the Company’s income in the event of multiple lease terminations by tenants or a failure of multiple tenants to occupy their premises in a shopping center, (v) the potential impact of e-commerce and other changes in consumer buying practices, and changing trends in the retail industry and perceptions by retailers or shoppers, including safety and convenience, (vi) the availability of suitable acquisition, disposition, development and redevelopment opportunities, and the costs associated with purchasing and maintaining assets and risks related to acquisitions not performing in accordance with our expectations, (vii) the Company’s ability to raise capital by selling its assets, (viii) disruptions and increases in operating costs due to inflation and supply chain disruptions, (ix) risks associated with the development of mixed-use commercial properties, including risks associated with the development, and ownership of non-retail real estate, (x) changes in governmental laws and regulations, including, but not limited to, changes in data privacy, environmental (including climate change), safety and health laws, and management’s ability to estimate the impact of such changes, (xi) the Company’s failure to realize the expected benefits of the merger with RPT Realty (the “RPT Merger”), (xii) the risk of litigation, including shareholder litigation, in connection with the RPT Merger, including any resulting expense, (xiii) risks related to future opportunities and plans for the combined company, including the uncertainty of expected future financial performance and results of the combined company, (xiv) the possibility that, if the Company does not achieve the perceived benefits of the RPT Merger as rapidly or to the extent anticipated by financial analysts or investors, the market price of the Company’s common stock could decline, (xv) valuation and risks related to the Company’s joint venture and preferred equity investments and other investments, (xvi) collectability of mortgage and other financing receivables, (xvii) impairment charges, (xviii) criminal cybersecurity attacks, disruption, data loss or other security incidents and breaches, (xix) risks related to artificial intelligence, (xx) impact of natural disasters and weather and climate-related events, (xxi) pandemics or other health crises, (xxii) our ability to attract, retain and motivate key personnel, (xxiii) financing risks, such as the inability to obtain equity, debt or other sources of financing or refinancing on favorable terms to the Company, (xxiv) the level and volatility of interest rates and management’s ability to estimate the impact thereof, (xxv) changes in the dividend policy for the Company’s common and preferred stock and the Company’s ability to pay dividends at current levels, (xxvi) unanticipated changes in the Company’s intention or ability to prepay certain debt prior to maturity and/or hold certain securities until maturity, (xxvii) the Company’s ability to continue to maintain its status as a REIT for U.S. federal income tax purposes and potential risks and uncertainties in connection with its UPREIT structure, and (xxviii) other risks and uncertainties identified under Item 1A, “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023. Accordingly, there is no assurance that the Company’s expectations will be realized. The Company disclaims any intention or obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise. You are advised to refer to any further disclosures the Company makes in other filings with the SEC.

CONTACT:
David F. Bujnicki
Senior Vice President, Investor Relations and Strategy
Kimco Realty Corporation
(833) 800-4343
[email protected]

ISTANBUL, Dec. 13, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “ Hepsiburada ”) (NASDAQ: HEPS), a leading Turkish e-commerce platform (referred to herein as “ Hepsiburada ” or the “ Company ”), announces the 21-month results of the “Trade and Technology Empowerment for the Earthquake Region” program (the “ Program ”) for the period from March 6, 2023 to December 4, 2024.

Since the Program’s launch in March 2023:

•  The total number of active merchants operating in the earthquake region has reached approximately 9,600, with approximately 5,700 new businesses selling their products online through Hepsiburada. The number of new businesses increased by more than 22% over the last three months.

•  Active sellers in the earthquake region sold a total of 12.1 million products through 8 million orders, generating a trade volume exceeding TRY 8.7 billion. The trade volume increased by approximately 28% in the last three months.

•  The trade volume generated by over 4,000 women entrepreneurs and women’s cooperatives in the region reached approximately TRY 610 million.

•  The number of SMEs and tradespeople receiving training at the E-Commerce Specialization Centers in Adana, Hatay, and Kahramanmaraş has exceeded 4,000.

The Program is expected to last for two years from its inception.

Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995, and encompasses all statements, other than statements of historical fact contained in this press release, and include but are not limited to statements regarding Hepsiburada’s “Trade and Technology Empowerment for the Earthquake Region” program. These forward-looking statements can be identified by terminology such as “may,” “could,” “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “targets,” “likely to” and similar statements.

These forward-looking statements are based on management’s current expectations. However, it is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. These statements are neither promises nor guarantees but involve known and unknown risks, uncertainties and other important factors and circumstances that may cause Hepsiburada’s actual results, performance or achievements to be materially different from its expectations expressed or implied by the forward-looking statements, including conditions in the U.S. capital markets, negative global economic conditions, potential negative developments resulting from epidemics or natural disasters, other negative developments in Hepsiburada’s business or unfavorable legislative or regulatory developments. We caution you therefore against relying on these forward-looking statements, and we qualify all of our forward-looking statements by these cautionary statements. For a discussion of additional factors that may affect the outcome of such forward-looking statements, see our 2023 annual report filed with the SEC on Form 20-F on April 30, 2024 (Commission File Number: 001-40553), and in particular the “Risk Factors” section, as well as the other documents filed with or furnished to the SEC by Hepsiburada from time to time. Copies of these filings are available online from the SEC at www.sec.gov, or on the SEC Filings section of our Investor Relations website at https://investors.hepsiburada.com. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. These forward-looking statements should not be relied upon as representing Hepsiburada’s views as of any date subsequent to the date of this press release. All forward-looking statements in this press release are based on information currently available to Hepsiburada, and Hepsiburada and its authorized representatives assume no obligation to update these forward-looking statements in light of new information or future events. Accordingly, undue reliance should not be placed upon the forward-looking statements.

About Hepsiburada

Hepsiburada is a leading e-commerce technology platform in Türkiye, operating through a hybrid model that combines first-party direct sales (1P) and a third-party marketplace (3P) with approximately 100 thousand merchants.

With its vision of leading the digitalization of commerce, Hepsiburada serves as a reliable, innovative and purpose-driven companion in consumers’ daily lives. Hepsiburada’s e-commerce platform offers a broad ecosystem of capabilities for merchants and consumers including last-mile delivery, fulfilment services, advertising solutions, cross-border sales, payment services and affordability solutions. Hepsiburada’s integrated fintech platform, Hepsipay, provides secure payment solutions, including digital wallets, general-purpose loans, buy now pay later (BNPL) and one-click checkout, enhancing shopping convenience for consumers across online and offline while driving higher sales conversions for merchants.

Since its founding in 2000, Hepsiburada has been purpose-driven, leveraging its digital capabilities to empower women in the Turkish economy. In 2017, Hepsiburada launched the ‘Technology Empowerment for Women Entrepreneurs’ program, which has supported nearly 57.5 thousand female entrepreneurs across Türkiye in reaching millions of customers.

Investor Relations Contact
[email protected]

Media Contact
[email protected]

SUNNYVALE, Calif., Dec. 13, 2024 (GLOBE NEWSWIRE) -- eGain (NASDAQ: EGAN), the AI knowledge management platform for service, today announced that it has been named a Visionary in the Gartner Magic Quadrant for the CRM Customer Engagement Center. Published on December 11, 2024, the report evaluated 12 vendors who satisfied inclusion requirements, based on 15 criteria.

Powered by Conversational and Generative AI and built on a trusted knowledge foundation, the eGain Customer Engagement Suite is an award-winning solution for digital-first, omnichannel engagement. It comprises three capability-rich hubs— AI Knowledge Hub , Conversation Hub , and Analytics Hub —built on a composable experience platform.

“We are pleased to be named a Visionary in the Gartner report,” said Ashu Roy, eGain CEO. “Our clients value market-leading innovation, most recently with the eGain AI Agent launch, and easy consumption models such as Innovation in 30 Days ™ and SafeSwitch ™.”

Gartner clients can click here to access the report.

GARTNER and MAGIC QUADRANT are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About eGain
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eGain, the eGain logo, and all other eGain product names and slogans are trademarks or registered trademarks of eGain Corp. in the United States and/or other countries. All other company names and products mentioned in this release may be trademarks or registered trademarks of the respective companies.

eGain Media Contact
[email protected]

Raanana, Israel, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Polyrizon Ltd. (Nasdaq: PLRZ) (the "Company" or "Polyrizon"), a development stage biotech company specializing in the development of innovative intranasal hydrogels, announces today the appointment of Asaf Azulay, the Managing Director of Eurofins’ Li-Med team, to its leadership as its VP of Regulatory Affairs and Quality Assurance (RA/QA). This strategic appointment reflects Polyrizon’s ongoing commitment to maintaining the highest industry standards as it advances its pipeline of cutting-edge solutions.

Asaf Azulay brings over 20 years of extensive experience in the medical devices industry, with expertise in leading quality teams and implementing regulatory strategies. His deep understanding of the global regulatory landscape will play a vital role in ensuring Polyrizon’s compliance with international standards and achieving its strategic goals.

As regulations tighten, the role of the RA/QA leader is more crucial than ever. The new role aims to ensure that the Company’s innovation does not hit roadblocks and that patient safety is a key component.

"We are excited to strengthen our team with proven expertise in RA/QA to support Polyrizon’s mission of delivering safe and effective solutions to market,” said Tomer Izraeli, CEO of Polyrizon. “Asaf’s extensive experience and insights will be instrumental in navigating complex regulatory environments and advancing our product portfolio."

The engagement further positions Polyrizon to navigate the regulatory landscape efficiently, enhancing its ability to bring breakthrough therapies to patients worldwide.

About Polyrizon

Polyrizon is a development stage biotech company specializing in the development of innovative medical device hydrogels delivered in the form of nasal sprays, which form a thin hydrogel-based shield containment barrier in the nasal cavity that can provide a barrier against viruses and allergens from contacting the nasal epithelial tissue. Polyrizon’s proprietary Capture and Contain ^TM , or C&C, hydrogel technology, comprised of a mixture of naturally occurring building blocks, is delivered in the form of nasal sprays, and potentially functions as a “biological mask” with a thin shield containment barrier in the nasal cavity. Polyrizon are further developing certain aspects of our C&C hydrogel technology such as the bioadhesion and prolonged retention at the nasal deposition site for intranasal delivery of drugs. Polyrizon refers to its additional technology, which is in an earlier stage of pre-clinical development, that is focused on nasal delivery of active pharmaceutical ingredients, or APIs, as Trap and Target ™, or T&T. For more information, please visit https://polyrizon-biotech.com .

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company is using forward-looking statements when it discusses its ongoing commitment to maintaining the highest industry standards as it advances its pipeline of cutting-edge solutions, how the appointment of the QA/RA leader aims to ensure that the Company’s innovation does not hit roadblocks and its mission of delivering safe and effective solutions to market. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s prospectus (Registration No. 333-266745), dated October 24, 2024 and filed with the SEC. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Polyrizon is not responsible for the contents of third-party websites.

Contacts:

Michal Efraty

Investor Relations

[email protected]

HOUSTON, Dec. 13, 2024 (GLOBE NEWSWIRE) -- U.S. Energy Corporation (NASDAQ: USEG, “ U.S. Energy ” or the “ Company ”) today announced that the Company has executed definitive documents for the sale of certain assets located in East Texas (the “ East Texas Assets ” and the “ Transaction ”). The Transaction is subject to customary closing conditions and the Transaction is expected to close on or before December 31, 2024.

HIGHLIGHTS

• All cash proceeds of $6,825,000.
• Proceeds are expected to be used to fund the continued development of U.S. Energy’s industrial gas project in Montana.
• Divested assets averaged approximately 1.1 million cubic feet per day of natural gas and 168 barrels of oil per day for the quarter ending September 30, 2024.
• Divested assets averaged approximately $136,000 per month of net cash flow at realized oil and gas commodity pricing of $72.99/bbl and $2.21/mcf, respectively, for the quarter ending September 30, 2024.
• The transaction will have an effective date of November 1, 2024, and is expected to close on or before December 31, 2024.
  

MANAGEMENT COMMENTARY

“We are pleased to announce the pending Transaction, marking a strategic divestment of a significant portion of the Company’s oil and gas assets in East Texas,” stated Ryan Smith, Chief Executive Officer of U.S. Energy Corp., who continued, “With proceeds expected to go directly towards advancing our industrial gas project in Montana, we anticipate that following the closing of the Transaction, U.S. Energy will sit in a position of enhanced liquidity and balance sheet strength across all measures. The divested assets will deliver an immediate realization of long-term value, secured at an attractive cash flow multiple, with proceeds being directed towards what is expected to be a highly accretive and scalable growth project. Additionally, the Transaction will streamline our operations and deliver meaningful cost savings by exiting a non-core geographic region. This transaction reflects our proactive approach to managing our oil and gas portfolio and underscores our strategy of monetizing legacy assets at favorable valuations to fuel future growth.”

EAST TEXAS ASSETS

U.S. Energy has agreed to sell the majority of its East Texas assets located in Anderson, Chambers, Henderson, and Liberty Counties, Texas, to a private buyer. The East Texas Assets, representing a total of 122 wells, are primarily operated properties that produced approximately 1.1 million cubic feet per day of natural gas and 168 barrels of oil per day for the quarter ending September 30, 2024. The effective date for the Transaction will be November 1, 2024, and the Transaction is expected to close on or before December 31, 2024.

ABOUT U.S. ENERGY CORP.

We are a growth company focused on consolidating high-quality energy and industrial gas assets in the United States with the potential to optimize production and generate free cash flow through low-risk development while maintaining an attractive shareholder returns program. We are committed to being a leader in reducing our carbon footprint in the areas in which we operate. More information about U.S. Energy Corp. can be found at www.usnrg.com .

INVESTOR RELATIONS CONTACT

Mason McGuire
[email protected]
(303) 993-3200
www.usnrg.com

FORWARD-LOOKING STATEMENTS

Certain of the matters discussed in this communication which are not statements of historical fact constitute forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. Words such as “strategy,” “expects,” “continues,” “plans,” “anticipates,” “believes,” “would,” “will,” “estimates,” “intends,” “projects,” “goals,” “targets” and other words of similar meaning are intended to identify forward-looking statements but are not the exclusive means of identifying these statements.

Important factors that may cause actual results and outcomes to differ materially from those contained in such forward-looking statements include, without limitation: (1) the ability of the Company to grow and manage growth profitably and retain its key employees; (2) the ability of the Company to close previously announced transactions and the terms of such transactions, including the closing of the Transaction on the terms and timeline set forth above, including, but not limited to the ability to meet conditions to closing the Transaction and the use of proceeds associated therewith; (3) risks associated with the integration of acquired assets; (4) the Company’s ability to comply with the terms of its senior credit facilities; (5) the ability of the Company to retain and hire key personnel; (6) the business, economic and political conditions in the markets in which the Company operates; (7) the volatility of oil and natural gas prices; (8) the Company’s success in discovering, estimating, developing and replacing oil and natural gas reserves; (9) risks of the Company’s operations not being profitable or generating sufficient cash flow to meet its obligations; (10) risks relating to the future price of oil, natural gas and NGLs; (11) risks related to the status and availability of oil and natural gas gathering, transportation, and storage facilities; (12) risks related to changes in the legal and regulatory environment governing the oil and gas industry, and new or amended environmental legislation and regulatory initiatives; (13) risks relating to crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; (14) technological advancements; (15) changing economic, regulatory and political environments in the markets in which the Company operates; (16) general domestic and international economic, market and political conditions, including the military conflict between Russia and Ukraine and the global response to such conflict; (17) actions of competitors or regulators; (18) the potential disruption or interruption of the Company’s operations due to war, accidents, political events, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the Company’s control; (19) pandemics, governmental responses thereto, economic downturns and possible recessions caused thereby; (20) inflationary risks and recent changes in inflation and interest rates, and the risks of recessions and economic downturns caused thereby or by efforts to reduce inflation; (21) risks related to military conflicts in oil producing countries; (22) changes in economic conditions; limitations in the availability of, and costs of, supplies, materials, contractors and services that may delay the drilling or completion of wells or make such wells more expensive; (23) the amount and timing of future development costs; (24) the availability and demand for alternative energy sources; (25) regulatory changes, including those related to carbon dioxide and greenhouse gas emissions; (26) uncertainties inherent in estimating quantities of oil and natural gas reserves and projecting future rates of production and timing of development activities; (27) risks relating to the lack of capital available on acceptable terms to finance the Company’s continued growth, potential future sales of debt or equity and dilution caused thereby; (28) the review and evaluation of potential strategic transactions and their impact on stockholder value and the process by which the Company engages in evaluation of strategic transactions; and (29) other risk factors included from time to time in documents U.S. Energy files with the Securities and Exchange Commission, including, but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other important factors that may cause actual results and outcomes to differ materially from those contained in the forward-looking statements included in this communication are described in the Company’s publicly filed reports, including, but not limited to, the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, and future annual reports and quarterly reports. These reports and filings are available at www.sec.gov. Unknown or unpredictable factors also could have material adverse effects on the Company’s future results.

SINGAPORE, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Sound Group Inc. (NASDAQ: SOGP) (“SOGP” or the “Company” or “We”), a global audio-centric social and entertainment company, today announced its unaudited financial results for the six months ended June 30, 2024.

First Half of 2024 Financial and Operational Highlights

• Net revenues were RMB924.0 million (US$127.1 million) for the six months ended June 30, 2024, compared with RMB1,223.8 million for the six months ended June 30, 2023.
• Net loss was RMB36.5 million (US$5.0 million) for the six months ended June 30, 2024, compared with net income of RMB59.9 million for the six months ended June 30, 2023.
• Average total mobile MAUs ¹ for the six months ended June 30, 2024 was 35.7 million, compared with 47.6 million for the six months ended June 30, 2023.
  

Mr. Jinnan (Marco) Lai, Founder and CEO of SOGP, commented, “For the six months ended June 30, 2024, we remained dedicated to building a more dynamic and healthier user ecosystem. We have empowered our content creators to deliver more diverse and distinctive content by harnessing advanced AI technologies and cultivating strategic partnerships. While facing various challenges, we have continued to integrate our technology applications and strengthen our competitiveness through innovative products and streamlined operations, laying a solid foundation for our market resilience and future growth.”

Ms. Chengfang Lu, Acting Chief Financial Officer of SOGP, said, “During the period, we recorded net revenues of RMB924.0 million. Despite the market uncertainties, we are committed to strengthening our core competitiveness through continuous content cultivation and technological innovation. Moving forward, we remained focused on improving organizational efficiency, advancing our globalization capabilities, increasing our overall agility, and delivering sustainable long-term value to our stakeholders.”

___________________

¹ Refers to the average monthly number of active users across our platforms and Apps in a given period, calculated by dividing (i) the sum of mobile active users for each month of such period, by (ii) the number of months in the same period.

First Half of 2024 Unaudited Financial Results

Net revenues were RMB924.0 million (US$127.1 million) for the six months ended June 30, 2024, compared with RMB1,223.8 million for the same period in 2023, primarily due to the decrease in the number of paying users.

Cost of revenues was RMB677.6 million (US$93.2 million) for the six months ended June 30, 2024, compared with RMB853.0 million for the same period in 2023, mainly attributable to (i) the decreased revenue sharing fees to our content creators as the Company’s revenues decreased, as well as (ii) the decreased bandwidth costs, salary and welfare benefits expenses related to the decreased operation staff, share-based compensation expenses, and payment handling costs.

Gross profit was RMB246.3 million (US$33.9 million) for the six months ended June 30, 2024, compared with RMB370.8 million for the same period in 2023.

Non-GAAP gross profit ² was RMB247.7 million (US$34.1 million) for the six months ended June 30, 2024, compared with RMB373.8 million for the same period in 2023.

Gross margin for the six months ended June 30, 2024 was 27%, compared with 30% for the same period in 2023, mainly attributable to the increased percentage of the revenue sharing fees to our content creators.

Non-GAAP gross margin for the six months ended June 30, 2024 was 27%, compared with 31% for the same period in 2023.

Operating expenses were RMB290.6 million (US$40.0 million) for the six months ended June 30, 2024, compared with RMB320.4 million for the same period in 2023.

Research and development expenses were RMB122.9 million (US$16.9 million) for the six months ended June 30, 2024, compared with RMB147.1 million for the same period in 2023, primarily due to (i) the decreased salary and welfare benefits expenses related to the decreased number of relevant staff, and (ii) the decreased share-based compensation expenses, partially offset by (iii) the increased expenses related to research and development services provided by third parties.

S elling and marketing expenses were RMB123.2 million (US$17.0 million) for the six months ended June 30, 2024, compared with RMB126.4 million for the same period in 2023, primarily attributable to (i) the decreased branding and marketing expenses, and (ii) the decreased salary and welfare benefits expenses related to the reduction in the number of our relevant staff. The Company will monitor its discretionary advertising and promotion expenses and adjust accordingly depending on market conditions.

General and administrative expenses were RMB44.5 million (US$6.1 million) for the six months ended June 30, 2024, compared with RMB46.9 million for the same period in 2023, mainly driven by (i) the decreased provision for litigation contingencies, share-based compensation expenses and other miscellaneous expenses, and partially offset by (ii) the increased salary and welfare benefits expenses related to the increased average salary, professional service fees and rental expenses.

Operating loss was RMB44.3 million (US$6.1 million) for the six months ended June 30, 2024, compared to operating income of RMB50.5 million for the same period in 2023.

Non-GAAP operating loss ³ was RMB34.9 million (US$4.8 million) for the six months ended June 30, 2024, compared to non-GAAP operating income of RMB66.4 million for the same period in 2023.

___________________

² Non-GAAP gross profit is a non-GAAP financial measure, which is defined as gross profit excluding share-based compensation expenses. This adjustment amounted to RMB1.4 million (US$0.2 million) and RMB3.0 million for the six months ended June 30, 2024 and 2023, respectively. Please refer to the section below titled “Unaudited Reconciliations of GAAP and Non-GAAP Results” for details.

³ Non-GAAP operating loss is a non-GAAP financial measure, which is defined as operating loss excluding share-based compensation expenses. This adjustment amounted to RMB9.3 million (US$1.3 million) and RMB15.9 million for the six months ended June 30, 2024 and 2023, respectively. Please refer to the section below titled “Unaudited Reconciliations of GAAP and Non-GAAP Results” for details.

Net loss was RMB36.5 million (US$5.0 million) for the six months ended June 30, 2024, compared to net income of RMB59.9 million for the same period in 2023.

Non-GAAP net loss was RMB27.1 million (US$3.7 million) for the six months ended June 30, 2024, compared to non-GAAP net income of RMB75.8 million for the same period in 2023.

Net loss attributable to Sound Group Inc. ’ s ordinary shareholders was RMB31.0 million (US$4.3 million) for the six months ended June 30, 2024, compared to net income of RMB62.6 million attributable to Sound Group Inc.’s ordinary shareholders for the same period in 2023.

Non-GAAP net loss attributable to Sound Group Inc. ’ s ordinary shareholders ⁴ was RMB21.6 million (US$3.0 million) for the six months ended June 30, 2024, compared to non-GAAP net income of RMB78.5 million attributable to Sound Group Inc.’s ordinary shareholders for the same period in 2023.

Basic and diluted net loss per ADS ⁵ were RMB6.04 (US$0.83) for the six months ended June 30, 2024, compared to basic and diluted net income per ADS of RMB11.73 and RMB11.69 for the same period in 2023, respectively.

Non-GAAP basic and diluted net loss per ADS ⁶ were both RMB4.22 (US$0.58) for the six months ended June 30, 2024, compared to basic and diluted net income per ADS of RMB14.72 and RMB14.66 for the same period in 2023, respectively.

Share Repurchase Program

The board of directors (the “Board”) of the Company authorized a share repurchase program in December 2023, under which the Company may repurchase its Class A ordinary shares (including Class A ordinary shares in the form of ADS) with an aggregate value of up to US$3.0 million over a 12-month period. As of June 30, 2024, the Company had repurchased 96,728,600 shares with a total aggregate consideration of US$1.4 million under this program.

Balance Sheets

As of June 30, 2024, the Company had cash and cash equivalents and restricted cash of RMB464.9 million (US$64.0 million).

___________________

⁴ Non-GAAP net loss attributable to Sound Group Inc.’s ordinary shareholders is a non-GAAP financial measure, which is defined as net loss attributable to Sound Group Inc.’s ordinary shareholders, excluding share-based compensation expenses. These adjustments amounted to RMB9.3 million (US$1.3 million) and RMB15.9 million for the six months ended June 30, 2024 and 2023, respectively. Please refer to the section below titled “Unaudited Reconciliations of GAAP and Non-GAAP Results” for details.

⁵ ADS refers to American Depositary Share. Each ADS represents two hundred Class A ordinary shares of the Company. Basic and diluted net loss per ADS is net loss attributable to Sound Group Inc.’s ordinary shareholders divided by the weighted average number of ADS.

⁶ Non-GAAP basic and diluted net loss per ADS is a non-GAAP financial measure, which is defined as non-GAAP net loss attributable to Sound Group Inc.’s ordinary shareholders divided by the weighted average number of ADS used in the calculation of basic and diluted net loss per ADS.

About Sound Group Inc.

Sound Group Inc. is a global audio-centric social and entertainment company driven by a clear mission and vision: building the world’s largest audio platform to better connect and communicate. The Company is dedicated to shaping a future where audio not only bridges gaps but also amplifies human connection through the power of sound. Sound Group Inc. has been listed on Nasdaq since January 2020.

For more information, please visit: https://ir.soundgroupinc.com/

Use of Non-GAAP Financial Measures

The unaudited condensed consolidated financial information is prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

SOGP uses non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating loss/income, non-GAAP net loss/income, non-GAAP net loss/income attributable to Sound Group Inc.’s ordinary shareholders and non-GAAP basic and diluted net loss/income per ADS, which are non-GAAP financial measures. Non-GAAP gross profit is gross profit excluding share-based compensation expenses. Non-GAAP gross margin is non-GAAP gross profit as a percentage of net revenues. Non-GAAP operating loss/income is operating loss/income excluding share-based compensation expenses. Non-GAAP net loss/income is net loss/income, excluding share-based compensation expenses. Non-GAAP net loss/income attributable to Sound Group Inc.’s ordinary shareholders is net loss/income attributable to Sound Group Inc.’s ordinary shareholders, excluding share-based compensation expenses. Non-GAAP basic and diluted net loss/income per ADS is non-GAAP net loss/income attributable to Sound Group Inc.’s ordinary shareholders divided by the weighted average number of ADS used in the calculation of basic and diluted net loss/income per ADS. The Company believes that separate analysis and exclusion of the non-cash impact of the above reconciling item adds clarity to the constituent parts of its performance. The Company reviews these non-GAAP financial measures together with GAAP financial measures to obtain a better understanding of its operating performance. It uses the non-GAAP financial measure for planning, forecasting and measuring results against the forecast. The Company believes that non-GAAP financial measure is useful supplemental information for investors and analysts to assess its operating performance without the non-cash effect of share-based compensation expenses.

However, the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that they do not include all items that impact the Company’s net income for the period. In addition, because non-GAAP financial measures are not measured in the same manner by all companies, they may not be comparable to other similarly titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measures in isolation from, superior to, or as an alternative to the financial measure prepared in accordance with U.S. GAAP.

The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, or as a substitute for, the financial information prepared and presented in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” near the end of this release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB7.2672 to US$1.00, the exchange rate on June 28, 2024, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollars amounts referred could be converted into U.S. dollar or RMB, as the case may be, at any particular rate or at all.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and 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: the Company’s goals and strategies; the Company’s future business development, results of operations and financial condition; the expected growth of the online audio market; the expectation regarding the rate at which to gain active users, especially paying users; the Company’s ability to monetize the user base; fluctuations in general economic and business conditions in China and overseas markets; any adverse changes in laws, regulations, rules, policies or guidelines applicable to the Company; and assumptions underlying or related to any of the foregoing. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the Securities Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

For investor and media inquiries, please contact:

Sound Group Inc.
IR Department
E-mail: [email protected]

Piacente Financial Communications
Jenny Cai
E-mail: [email protected]

SAN JUAN CAPISTRANO, Calif., Dec. 13, 2024 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the Ensign™ group of companies, which invest in and provide skilled nursing and senior living services, physical, occupational and speech therapies, other rehabilitative and healthcare services, and real estate, announced today that it has declared a quarterly cash dividend of $0.0625 per share of Ensign common stock, payable on or before January 31, 2025, to shareholders of record as of December 31, 2024. “We are pleased to announce our twenty-second consecutive annual dividend increase, which reflects our strong market position and continued commitment to return value to our shareholders,” commented Barry Port, Ensign's Chief Executive Officer. “We look forward to further growth in the upcoming year and are excited about the long-term future of our organization,” he added.

Ensign has been a dividend-paying company since 2002.

About Ensign ^™

The Ensign Group, Inc.'s independent operating subsidiaries provide a broad spectrum of skilled nursing and senior living services, physical, occupational and speech therapies and other rehabilitative and healthcare services at 324 healthcare facilities in Arizona, California, Colorado, Idaho, Iowa, Kansas, Nebraska, Nevada, South Carolina, Tennessee, Texas, Utah, Washington and Wisconsin. More information about Ensign is available at http://www.ensigngroup.net .

Contact Information

The Ensign Group, Inc., (949) 487-9500, [email protected]

SOURCE: The Ensign Group, Inc.

Everett, Washington, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Summary:

• 63% predict that solar will lead their country’s energy transition.
• 91% are concerned about solar panel efficiency, and 39% cite inverter failures as a common issue.
• Nearly a third use reactive maintenance, while over half prioritize adopting predictive maintenance.
• 59% stressed the need to train technicians in advanced diagnostic tools to address evolving challenges.
• 45% view AI integration in solar panel design, optimization, and maintenance as a key opportunity.

EVERETT, Wash., December 12, 2024 – Fluke Corporation , a leading provider of safe, rugged, and reliable industrial tools and integrated software, has released new survey findings highlighting key challenges for the solar industry on its path to a net-zero future. The survey identifies improving panel efficiency, transitioning from reactive to predictive maintenance, and adopting smart technologies as top priorities. Crucially, data emerges as the driving force behind innovation and operational efficiency, offering solutions to these pressing challenges.

The survey, conducted by Censuswide on behalf of Fluke, engaged over 400 solar OEMs, technicians, and installers across the UK, Germany, Spain, and the USA to gain insights into their perspectives on the pressing challenges facing the solar industry. The survey results also highlighted their attitudes toward emerging trends and their expectations for how the future of solar energy is likely to evolve in the coming years.

The research revealed that nearly two-thirds of respondents (63%) believe solar will become the dominant energy source in their country. However, it also highlighted significant challenges that must be addressed to turn this optimistic vision into reality and pave the way for a solar-powered future.

“The adoption of smart technologies is going to be critical for companies to gain a strategic edge,” says Vineet Thuvara, Chief Product Officer, Fluke. “Businesses are increasingly keen to automate their maintenance operations, with approaches like condition monitoring and predictive maintenance, and those that don’t utilize new AI enabled technologies - and their capabilities for collecting more data and gaining more knowledge - will be left behind.”

One of the challenges that emerged in the survey’s findings is the need to rapidly shift from reactive maintenance to a more proactive approach. With 91% of those surveyed reporting concerns about the efficiency of the current generation of solar modules and 39% of respondents identifying inverter failures as a common issue, it’s clear an effective maintenance strategy is a necessity. Nearly a third of all respondents described their current maintenance strategy as reactive, while more than half indicated that implementing predictive maintenance was a key priority.

Thuvara continued, “The next step, and the real opportunity to overcome the challenges facing the future of the solar industry, lies in the use of smart tools to analyze this data, and benchmark new data against historical data to detect issues before they risk causing failures. This is where using advanced diagnostic tools and training technicians on how to use them will help maximize solar panel and maintenance efficiency.”

The skills shortage emerged as a significant concern, especially as data tracking through smart technologies becomes more integral to the solar industry's future. A notable 59% of respondents emphasized the importance of training technicians to effectively use advanced diagnostic tools to meet evolving challenges. Additionally, 53% highlighted the need for more focused training in electrical troubleshooting and diagnostics, underscoring the urgent need to equip the workforce with the skills to navigate the industry's technological shift.

In a positive sign, nearly all respondents are taking proactive steps to improve system efficiency through diverse strategies, including investments in module optimization software and collaborations with research institutions. Notably, 45% of respondents see the integration of AI in solar panel design, optimization, and maintenance as a promising opportunity for advancement. Additionally, 36% are eager to adopt AI-powered diagnostics to enhance maintenance efficiency. However, challenges remain: 28.7% are still relying on a reactive maintenance approach, with over 52% depending on external services rather than in-house maintenance teams.

More than half of those surveyed also identified supply chain resilience as a major concern for installers, with macro-economic and geo-political trends continuing to create uncertainty. Fluke’s Will White, Solar Application Specialist, explains: “Organisations are continuing to search for solutions to tackle persistent supply chain issues, aiming to find the sweet spot between adaptability, transparency, affordability, and accessibility. It’s positive to see that the industry remains confident in finding this sweet spot to enable solar to be the dominant renewable energy source in the future.”

About Fluke

Founded in 1948, Fluke Corporation is the world leader in compact, professional electronic test tools and software for measuring and condition monitoring. Fluke customers are technicians, engineers, electricians, maintenance managers, and metrologists who install, troubleshoot, and maintain industrial, electrical, and electronic equipment and calibration processes. FLUKE is a registered trademark of Fluke Corporation. For more information, visit the Fluke website .

# # #

For more information:
Georgia Marchant
Fluke Corporation
[email protected]

Dave Smith
Fluke Corporation
[email protected]

Attachment

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Dubai and Amsterdam, 13 December 2024 : VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON”), following the release of its 3Q24 trading update on 14 November 2024, today discloses its unaudited interim condensed consolidated financial statements for the three-month and nine-month periods ended 30 September 2024 for VEON Ltd. The Financial Statements are available on the VEON Group website at https://www.veon.com/investors/ .

About VEON
VEON is a Nasdaq-listed digital operator that provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than 7% of the world’s population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. For more information visit: www.veon.com .

Contact Information

Hande Asik
Group Director of Communications
[email protected]

Faisal Ghori
Group Director of Investor Relations
[email protected]

LITTLE ROCK, Ark., Dec. 12, 2024 (GLOBE NEWSWIRE) -- Uniti Group Inc. (“Uniti”) (Nasdaq: UNIT) today announced the pricing of $1.4 billion aggregate principal amount of additional 8.250% Senior First Lien Notes due 2031 (the “Additional Windstream Notes”) by Windstream Services, LLC and Windstream Escrow Finance Corp. (collectively, the “Windstream Co-Issuers”), each a subsidiary of Windstream Holdings II, LLC (“Windstream”). The Additional Windstream Notes will constitute a further issuance of the Windstream Co-Issuers’ 8.250% Senior First Lien Notes due 2031, which were issued on October 4, 2024. The offering of the Additional Windstream Notes is expected to close on December 23, 2024, subject to customary closing conditions.

The Windstream Co-Issuers intend to use the net proceeds from the offering, together with cash on hand, to (i) fund the redemption of all $1.4 billion outstanding principal amount of Windstream’s 7.750% senior first lien notes due 2028 at a redemption price of 101.938% of their principal amount and (ii) pay any related premiums, fees and expenses, including accrued and unpaid interest, if any. These transactions are intended to be leverage neutral.

“We are very pleased with the outcome of this successful refinancing at Windstream. Combined with other recent transactions, the overall debt maturity profile of Windstream has been extended in a cash flow efficient manner. We will continue to evaluate efficient ways to strengthen our balance sheet by extending the debt maturity profile and lowering interest expense at Uniti, particularly with our remaining 2028 debt maturities,” commented Paul Bullington, Senior Vice President, Chief Financial Officer & Treasurer.

The Additional Windstream Notes were offered and sold only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A and in offshore transactions to non-U.S. persons pursuant to Regulation S, each under the Securities Act.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, the Additional Windstream Notes issued pursuant to the offering of Additional Windstream Notes described above.

ABOUT UNITI

Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of fiber and other wireless solutions for the communications industry. As of September 30, 2024, Uniti owns approximately 144,000 fiber route miles, 8.7 million fiber strand miles, and other communications real estate throughout the United States. Additional information about Uniti can be found on its website at www.uniti.com .

NO OFFER OR SOLICITATION

This communication and the information contained in it are provided for information purposes only and are not intended to be and shall not constitute a solicitation of any vote or approval, or an offer to sell or solicitation of an offer to buy, or an invitation or recommendation to subscribe for, acquire or buy securities of Uniti, Windstream or Windstream Parent, Inc., the proposed combined company following the closing of the Merger (as defined below) (“New Uniti”) or any other financial products or securities, in any place or jurisdiction, nor shall there be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made in the United States absent registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or pursuant to an exemption from, or in a transaction not subject to, such registration requirements.

ADDITIONAL INFORMATION AND WHERE TO FIND IT

In connection with the contemplated Merger, New Uniti has filed a registration statement on Form S-4 with the SEC that contains a proxy statement/prospectus and other documents, which has not yet become effective. Once effective, Uniti will mail the proxy statement/prospectus contained in the Form S-4 to its stockholders. This communication is not a substitute for any registration statement, proxy statement/prospectus or other documents that may be filed with the SEC in connection with the Merger.

THE PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS FILED WITH THE SEC IN CONNECTION WITH THE MERGER CONTAINS IMPORTANT INFORMATION ABOUT UNITI, WINDSTREAM, NEW UNITI, THE MERGER AND RELATED MATTERS. INVESTORS SHOULD READ THE PROXY STATEMENT/PROSPECTUS AND SUCH OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THE PROXY STATEMENT/PROSPECTUS AND SUCH DOCUMENTS, BEFORE THEY MAKE ANY DECISION WITH RESPECT TO THE MERGER.

The proxy statement/prospectus, any amendments or supplements thereto and all other documents filed with the SEC in connection with the Merger will be available free of charge on the SEC’s website (at www.sec.gov ). Copies of documents filed with the SEC by Uniti will be made available free of charge on Uniti's investor relations website (at https://investor.uniti.com/financial-information/sec-filings ).

PARTICIPANTS IN THE SOLICITATION

Uniti, Windstream and their respective directors and certain of their executive officers and other employees may be deemed to be participants in the solicitation of proxies from Uniti’s stockholders in connection with the Merger. Information about Uniti’s directors and executive officers is set forth in the sections titled “Proposal No. 1 Election of Directors” and “Security Ownership of Certain Beneficial Owners and Management” included in Uniti’s proxy statement for its 2024 annual meeting of stockholders, which was filed with the SEC on April 11, 2024 (and which is available at https://www.sec.gov/Archives/edgar/data/1620280/000110465924046100/0001104659-24-046100-index.htm ), the section titled “Directors, Executive Officers and Corporate Governance” included in its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, which was filed with the SEC on February 29, 2024 (and which is available at https://www.sec.gov/ix?doc=/Archives/edgar/data/1620280/000162828024008054/unit-20231231.htm ), and subsequent statements of beneficial ownership on file with the SEC and other filings made from time to time with the SEC. Additional information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of Uniti stockholders in connection with the Merger, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in the proxy statement/prospectus and other relevant materials filed by New Uniti with the SEC. These documents can be obtained free of charge from the sources indicated above.

FORWARD-LOOKING STATEMENTS

This communication contains forward-looking statements, including within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can often be identified by terms such as “may,” “will,” “appears,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” or “continue,” or the negative of these words or other similar terms or expressions that concern expectations, strategy, plans, or intentions. However, the absence of these words or similar terms does not mean that a statement is not forward-looking. All forward-looking statements are based on information and estimates available to Uniti and Windstream at the time of this communication and are not guarantees of future performance.

Examples of forward-looking statements in this communication (made at the date of this communication unless otherwise indicated) include, among others, statements regarding the Merger and the future performance of Uniti, Windstream and New Uniti (the “Merged Group”), whether Windstream amends the terms of its existing credit agreement, the implementation and expected effects of the Post-Closing Reorganization, the perceived and potential synergies and other benefits of the Merger, and expectations around the financial impact of the Merger on the Merged Group’s financials. In addition, this communication contains statements concerning the intentions, beliefs and expectations, plans, strategies and objectives of the directors and management of Uniti and Windstream for Uniti and Windstream, respectively, and the Merged Group, the anticipated timing for and outcome and effects of the Merger (including expected benefits to shareholders of Uniti), expectations for the ongoing development and growth potential of the Merged Group and the future operation of Uniti, Windstream and the Merged Group.

These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement and may include statements regarding the expected timing and structure of the Merger; the ability of the parties to complete the Merger considering the various closing conditions; the expected benefits of the Merger, such as improved operations, enhanced revenues and cash flow, synergies, growth potential, market profile, business plans, expanded portfolio and financial strength; the competitive ability and position of New Uniti following completion of the Merger; and anticipated growth strategies and anticipated trends in Uniti’s, Windstream’s and, following the expected completion of the Merger, New Uniti’s business.

In addition, other factors related to the Merger that contribute to the uncertain nature of the forward-looking statements and that could cause actual results and financial condition to differ materially from those expressed or implied include, but are not limited to: the satisfaction of the conditions precedent to the consummation of the Merger, including, without limitation, the receipt of shareholder and regulatory approvals on the terms desired or anticipated; unanticipated difficulties or expenditures relating to the Merger, including, without limitation, difficulties that result in the failure to realize expected synergies, efficiencies and cost savings from the Merger within the expected time period (if at all); potential difficulties in Uniti’s and Windstream’s ability to retain employees as a result of the announcement and pendency of the Merger; risks relating to the value of New Uniti’s securities to be issued in the Merger; disruptions of Uniti’s and Windstream’s current plans, operations and relationships with customers caused by the announcement and pendency of the Merger; legal proceedings that may be instituted against Uniti or Windstream following announcement of the Merger; funding requirements; regulatory restrictions (including changes in regulatory restrictions or regulatory policy) and risks associated with general economic conditions.

Additional factors that could cause actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements are detailed in the filings with the SEC, including Uniti’s annual report on Form 10-K, periodic quarterly reports on Form 10-Q, periodic current reports on Form 8-K and other documents filed with the SEC.

There can be no assurance that the Merger will be implemented or that plans of the respective directors and management of Uniti and Windstream for the Merged Group, including the Post-Closing Reorganization, will proceed as currently expected or will ultimately be successful. Investors are strongly cautioned not to place undue reliance on forward-looking statements, including in respect of the financial or operating outlook for Uniti, Windstream or the Merged Group (including the realization of any expected synergies).

Except as required by applicable law, Uniti does not assume any obligation to, and expressly disclaims any duty to, provide any additional or updated information or to update any forward-looking statements, whether as a result of new information, future events or results, or otherwise. Nothing in this communication will, under any circumstances (including by reason of this communication remaining available and not being superseded or replaced by any other presentation or publication with respect to Uniti, Windstream or the Merged Group, or the subject matter of this communication), create an implication that there has been no change in the affairs of Uniti or Windstream since the date of this communication.

INVESTOR AND MEDIA CONTACTS:

Paul Bullington, 251-662-1512
Senior Vice President, Chief Financial Officer & Treasurer
[email protected]

Bill DiTullio, 501-850-0872
Vice President, Investor Relations & Treasury
[email protected]

This press release was published by a CLEAR® Verified individual.