Market Newsdesk

Samsung Commits $1 Billion to Helix Digital Infrastructure to Support Global AI Infrastructure Buildout

Commitment builds on more than $10 billion of capital already committed to the Helix strategy

NEW YORK–(BUSINESS WIRE)–
Helix Digital Infrastructure (“Helix”) and KKR today announced that Samsung has committed $1 billion to Helix, an AI infrastructure company formed by KKR to help meet the growing infrastructure needs of hyperscalers, through its long-duration capital fund.

Samsung’s investment builds on the more than $10 billion of capital committed to the Helix strategy at its launch by founding investors including KKR, the Kuwait Investment Authority (KIA), NVIDIA and Vistra. The new commitment will provide additional long-duration capital to support Helix’s strategy of investing in and delivering the data centers, power, connectivity and related infrastructure required to support growing AI demand.

“Samsung’s commitment is a strong vote of confidence in Helix’s strategy and further deepens the long-term capital base we’ve built to meet the scale of AI infrastructure demand,” said Adam Selipsky, CEO and Co-Founder, Helix. “As one of the world’s leading technology companies, Samsung brings unique capabilities that we expect will benefit Helix and its customers, and we look forward to working together to accelerate the deployment of next-generation digital infrastructure for hyperscalers around the world.”

Alongside NVIDIA’s expertise in full-stack technology and AI infrastructure and Vistra’s role in power, Helix expects to explore opportunities to leverage Samsung’s capabilities across areas such as advanced technology, construction, energy storage, and cooling to support the development and delivery of AI infrastructure at scale.

AI is driving a generational infrastructure buildout, creating unprecedented demand from hyperscalers for partners that can help solve increasingly complex infrastructure needs at scale and speed. Helix was created in response to this challenge through an integrated approach that brings together long-duration capital, deep infrastructure expertise and capabilities across the critical components required to support AI growth. Helix will seek to invest in, deliver and manage AI-enabling infrastructure both in North America and worldwide.

Globally, KKR has invested over $75 billion across digital infrastructure and power. The firm has been present in Korea since 2009, building deep local relationships and market understanding across infrastructure, private equity, real estate and credit. KKR has invested approximately $9 billion across its strategies in Korea. This long-term presence underpins KKR’s commitment to building trust to support leading Korean companies’ growth and objectives.

About Helix Digital Infrastructure

Helix Digital Infrastructure is a dedicated company focused on investing in, delivering and managing the next generation of AI-enabling infrastructure. Founded with anchor investors including KKR, the Kuwait Investment Authority, NVIDIA and Vistra, the company has access to a long-duration, multi-billion-dollar pool of capital. Supported by KKR’s leading global infrastructure platform, Helix is designed to deliver integrated solutions across hyperscale data centers, power generation and transmission, fiber, connectivity and related infrastructure. Helix is led by Adam Selipsky, former CEO of Amazon Web Services, and a management team with extensive experience across cloud, digital infrastructure and energy systems. For more information about Helix, please visit www.helixdi.com.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Samsung Electronics, Samsung C&T, Samsung SDS, Samsung SDI

Samsung Electronics’ Device Solutions (DS) Division is leading innovation across all areas of semiconductor technology, including Memory, System LSI, and Foundry. It supports the global buildout with its state-of-the-art semiconductor solutions, responding to changes in global demand in a timely manner. https://semiconductor.samsung.com/

Samsung Electronics’ Device eXperience (DX) Division delivers a comprehensive portfolio of data center cooling products and solutions—from air cooling systems to coolant distribution units (CDUs) for liquid cooling—through FläktGroup, its data center HVAC specialist subsidiary acquired in 2025. It also operates 14 production sites worldwide and a supply and service network across 65 countries, giving it the speed and flexibility to meet hyperscalers’ demands for rapid capacity expansion.

Samsung C&T Engineering & Construction Group has 50 years of experience operating throughout the world. The group focuses on three key areas: commercial and residential buildings, civil infrastructure, and plant construction. Samsung C&T is actively driving the large-scale infrastructure projects as an engineering, procurement and construction (EPC) contractor across data centers and power generation. http://www.samsungcnt.com.

Samsung SDS is an IT services company that also designs, builds, and operates data centers, and has recently expanded into the GPUaaS business. The company boasts the lowest Power Usage Effectiveness (PUE) level in Korea which it applies both to its own data centers and to the Korea AI Computing Center (KOACC). https://www.samsungsds.com/us/index.html

Samsung SDI is recognized for world-leading technology in uninterruptible power supplies (UPS) and battery backup units (BBUs), both essential to running data centers that operate high-performance servers 24 hours a day. It plans to uncover further business opportunities in this field, where ultra-high-output, high-capacity battery technology is the core requirement. https://www.samsungsdi.com/

Notice to Readers

This press release contains forward-looking statements, which reflect our current views with respect to, among other things, the operations of Helix. Readers can identify these forward-looking statements by the use of words such as “outlook,” “believe,” “expect,” “potential,” “continue,” “may,” “should,” “seek,” “approximately,” “predict,” “intend,” “will,” “plan,” “estimate,” “anticipate” or the negative version of these words or other comparable words. Forward-looking statements are subject to various risks and uncertainties. These forward-looking statements are based on KKR’s beliefs, assumptions and expectations, but these beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or within its control.

Due to various risks and uncertainties, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

General discussions contained within this press release regarding investment demand or market trends represent the view of either the source cited or KKR. Historical or current market trends are not reliable indicators of actual future market behavior or future performance of any particular investment that may differ materially, and should not be relied upon as such. Nothing contained herein is intended to predict the performance of any investment.

KIA, NVIDIA, Samsung and Vistra are investors in Helix and accordingly will participate in returns generated by Helix. These and other investors will serve as strategic partners and may have certain rights, such as priority or first look rights, to provide goods or services to Helix investments.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260928688153/en/

[email protected]

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Technology Professional Services Artificial Intelligence Finance

MEDIA:

Logo

Zelman Housing Summit Highlights Shifting Supply, Affordability Challenges and Opportunities Heading Into 2027

BETHESDA, Md.–(BUSINESS WIRE)–Walker & Dunlop, Inc. announced last week at its 19^th annual 2026 Zelman Housing Summit, that housing supply dynamics are shifting across asset classes, affordability challenges are persistent and diverging consumer and regional trends could shape the housing market heading into 2027. Replays from the summit are now available for purchase, providing access to the research, analysis and industry perspectives.

Hosted by Ivy Zelman, executive vice president and co-founder of Zelman, a Walker & Dunlop Company, the summit brought together C-suite executives, capital providers, developers and other industry leaders to examine housing market conditions.

“What stands out today is how much housing conditions vary by geography, price point and consumer,” said Zelman. “We believe the overall market is relatively balanced, but that doesn’t mean every market or every buyer is experiencing the same conditions. Affordability remains very stretched, and as supply shifts across markets, understanding those differences will be critical as we head into 2027.”

Key summit takeaways:

• Homebuilding & Manufactured Housing: Higher-end consumers remain resilient, while affordability and confidence continue to challenge payment-sensitive buyers. Builders are using mortgage rate buydowns to compete with resale homes, while scale is increasingly important amid elevated land, labor and material costs.
• Building Products: Residential demand remains muted, but suppliers see opportunities to gain market share through product innovation, technology and expansion into stronger channels, even as renewed cost inflation creates near-term pressure.
• Mortgage & Real Estate Services: With transaction volumes constrained by affordability, operators are focused on using technology and AI to improve productivity, streamline workflows and lower the cost to originate.
• Housing M&A & Capital Markets: Consolidation remains active across housing as the industry navigates evolving capital needs and policy developments, while land banking continues to evolve as a mainstream source of capital for builders.
• Single-Family Rental: Rent growth is accelerating against gradually easing supply headwinds and relative affordability continues to support demand, with panelists anticipating stronger industry fundamentals in 2027.
• Multifamily Rental: Declining apartment deliveries and strong renter demand are supporting the outlook, while current market conditions are creating opportunities to acquire properties at discounts to replacement cost.
• Consumer: Higher-income consumers and premium price points continue to demonstrate greater resilience, while lower-income households remain under pressure and retailers navigate soft demand, operating complexity and tariff uncertainty.

Click HERE to purchase replays of the 2026 Zelman Housing Summit.

Founded in 2007, Zelman, a Walker & Dunlop Company, is the leading investment banking and institutional research advisory firm dedicated exclusively to the U.S. housing industry including single-family, multifamily, SFR / BFR, building products, mortgage, technology, brokerage, and related businesses. Zelman specializes in bespoke institutional research and investment banking services encompassing mergers & acquisitions, private equity capital raising, initial public offerings, public bond underwritings, private debt placements and related corporate finance, valuation, and strategic advisory services.

All securities offered through Zelman Partners LLC, a registered broker dealer and member of FINRA and SIPC.

About Walker & Dunlop

Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in the United States and internationally. Our ideas and capital create communities where people live, work, shop, and play. Our innovative people, breadth of our brand, and our technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260928538991/en/

Media:

Nina H. von Waldegg

Public Relations

Phone 301.564.3291

[email protected]

KEYWORDS: United States North America Maryland

INDUSTRY KEYWORDS: Commercial Building & Real Estate Construction & Property Finance Public Relations/Investor Relations Communications Professional Services Other Construction & Property Other Professional Services Residential Building & Real Estate

MEDIA:

Logo

Enhanced Group Announces Proposed 1-for-10 Reverse Stock Split

NEW YORK–(BUSINESS WIRE)–
Enhanced Group Inc. (NYSE: ENHA) (“Enhanced” or the “Company”) today announced that its Board of Directors has approved a 1-for-10 reverse stock split of its Class A and Class B common stock (the “Reverse Stock Split”). The Board’s action has been consented to by the holder of the majority of the Company’s outstanding voting power, acting by written consent in lieu of a special meeting of shareholders. No further shareholder vote or action is required or being requested, and shareholders are not being asked to take any action at this time.

The Reverse Stock Split, if effected, will apply proportionately to all issued and outstanding shares of Class A and Class B common stock and will not change any shareholder’s percentage ownership or relative voting power in the Company. No fractional shares will be issued; any fractional interest resulting from the split will be rounded up to the nearest whole share.

The Board believes that the Reverse Stock Split could enhance the marketability and attractiveness of Enhanced’s Common Stock among a broader range of institutional investors, brokerage firms, analysts and other members of the investment community. As the Company continues to scale its business across the Enhanced Games and its Live Enhanced platform it would benefit from such a potential increase in a broader investor base and participation. Taken together, these factors could support a more active and efficient market for the Company’s Common Stock as Enhanced continues to execute its business strategy and pursue opportunities for long-term growth.

The Reverse Stock Split is not being effected in response to any notice of non-compliance with, or in order to regain compliance with, the continued listing standards of NYSE.

Enhanced has filed a preliminary Information Statement on Schedule 14C with the U.S. Securities and Exchange Commission describing the Reverse Stock Split. Subject to satisfaction of the applicable SEC requirements and the Board’s discretion, the Company currently expects the Reverse Stock Split to become effective on or about October 28, 2026, although the actual effective date and time may differ. Before implementing the Reverse Stock Split, the Company will notify the NYSE in accordance with its requirements and issue a press release announcing the effective date and time, the date on which the Class A Common Stock will begin trading on a split-adjusted basis, and its new CUSIP number. Enhanced’s common stock will continue to trade on the NYSE under the symbol “ENHA” throughout this process.

About Enhanced Group, Inc.

Enhanced (NYSE: ENHA) is an elite sports competition and performance products company committed to giving athletes and consumers access to products that optimize health, performance, and recovery. Its Live Enhanced platform provides consumers with clinician-guided protocols, supplements, and personalized health and longevity offerings. For more information, visit www.enhanced.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the proposed Reverse Stock Split, the anticipated timing and effectiveness of the Reverse Stock Split, the anticipated trading of the Company’s common stock following the Reverse Stock Split, and the Company’s expectations regarding the potential benefits and effects of the Reverse Stock Split. These statements are based on management’s current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. For a discussion of these and other risks and uncertainties, see the “Risk Factors” section of the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 and the Company’s other filings with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260928832141/en/

Investor Contact

[email protected]

Media Contact

[email protected]

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Health Sports Fitness & Nutrition General Health General Sports Vitamins/Supplements

MEDIA:

Logo

Orion Digital Regains Compliance with Nasdaq’s Minimum Bid Price Requirement

VANCOUVER, British Columbia–(BUSINESS WIRE)–
Orion Digital Corp. (NASDAQ: ORIO; TSX: ORIO) (“Orion Digital” or the “Company”) today announced that it received formal written confirmation from The Nasdaq Stock Market, LLC (“Nasdaq”) confirming that the Company has regained compliance with Nasdaq’s minimum bid price requirement.

To regain compliance with the minimum bid price requirement, the Company’s shares of common stock were required to maintain a minimum closing bid price of US$1.00 or more for at least 10 consecutive business days.

The closing bid price of the shares has been at US$1.00 per share or greater for the 14 consecutive business days from September 8, 2026 to September 25, 2026. Accordingly, Nasdaq Listing Qualifications Staff has notified the Company that it has regained compliance with Nasdaq Listing Rule 5550(a)(2), and the matter is now closed.

About Orion Digital Corp.

Orion Digital Corp. (NASDAQ: ORIO; TSX: ORIO) is an established financial technology company building financial platforms for an AI-driven future. Orion operates across three core areas: wealth through Intelligent Investing, payments infrastructure through Carta Worldwide, and consumer finance through Mogo.

Intelligent Investing is building a capital allocation system designed to help investors make better, more consistent decisions over time, combining commission-free investing, independent AI-powered research and structured decision tools in one platform. It is being commercialized on top of an established Canadian wealth business with more than C$545 million of broader Wealth assets under administration.

Carta provides payments infrastructure for client programs that process more than C$11 billion of annual payment volume and reach more than four million end users. Mogo is an established Canadian consumer finance platform with more than two decades of operating history, managed with a focus on return-based capital deployment.

Orion Digital allocates capital across its businesses based on expected returns, capital efficiency and liquidity requirements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260928084444/en/

Investor Relations

[email protected]

US Investor Relations

Lytham Partners, LLC

Ben Shamsian

New York | Phoenix

[email protected]

(646) 829-9701

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Finance Payments Professional Services Technology Fintech

MEDIA:

Posted on September 28, 2026 5:51 pm

Sangoma Technologies Corporation Enters into Definitive Agreement to be Acquired by BRC Group Holdings, Inc.

Sangoma Technologies Corporation Enters into Definitive Agreement to be Acquired by BRC Group Holdings, Inc.

Transaction Creates an Industry Leader in Unified Business Communications

TORONTO & LOS ANGELES–(BUSINESS WIRE)–
Sangoma Technologies Corporation (TSX: STC; NASDAQ: SANG) (“Sangoma”), a trusted industry leader uniquely offering businesses a choice of on-premises, cloud-based or hybrid communications solutions, and BRC Group Holdings, Inc. (NASDAQ: RILY) (“BRC”), a diversified holding company with a scaled business communications portfolio, announced today that the companies have entered into a definitive arrangement agreement (the “Arrangement Agreement”) pursuant to which an affiliate of BRC will acquire all of the issued and outstanding common shares of Sangoma (the “Sangoma Shares”) in a transaction that values Sangoma at an enterprise value of approximately US$204 million (C$289¹ million) (the “Transaction”).

Under the terms of the Arrangement Agreement, shareholders of Sangoma (the “Sangoma Shareholders”) will receive, in exchange for each Sangoma Share held, US$4.925 in cash (the “Cash Consideration”) and 0.04767 of a share of common stock of BRC (each a “BRC Share”) (the “Share Consideration” and, collectively with the Cash Consideration, the “Consideration”). Based on the 20-day VWAP of BRC common shares on the NASDAQ, the Consideration implies a value of US$5.225 (C$7.40) per Sangoma Share, representing a premium of approximately 47% based on the closing price, and a premium of approximately 51% based on the 10-day VWAP, of Sangoma Shares on the TSX as of September 28, 2026.

“This transaction represents a compelling outcome for Sangoma and our shareholders, delivering immediate liquidity and certainty of value at a premium price,” said Sangoma CEO, Charles Salameh. “Today’s milestone is a direct result of the incredible dedication and hard work of our entire team, who have built a market-leading unified business communications platform. Looking ahead, we are excited to partner with the BRC team to combine our operational strengths, expand our platform reach, and accelerate our next phase of growth.”

Sangoma’s platform efficiently unifies business communications, delivering enterprise-grade solutions that are central to seamless collaboration and customer engagement. Upon the closing of the Transaction, Sangoma will operate as part of BRC Telecom, a portfolio of communications businesses backed by BRC, that serve customers ranging from small businesses to the mid-market under their respective brands. This group has an established track record of driving operational excellence to create enduring value across its portfolio companies.

“Sangoma brings a comprehensive communications platform with the extensibility to serve and grow with our mid-market customers,” said BRC Telecom CEO, Ananth Veluppillai. “While our existing operations excel in both the SMB and enterprise markets, Sangoma’s AI-powered customer experience capabilities and contact center intelligence represent a step-change in what we can deliver. Together, these combined offerings provide us with one of the most complete business communications portfolios in our competitive set. We hold deep respect for what the Sangoma team has built and look forward to bringing this broader, enhanced platform to our customers.”

Board Recommendation and Fairness Opinion

The Arrangement Agreement and the Transaction are the result of a comprehensive strategic review process undertaken under the supervision and with the involvement of a special committee comprised of independent directors of Sangoma (the “Special Committee”) and announced in May 2026. Sangoma’s board of directors (the “Board”), having evaluated the Arrangement Agreement with Sangoma’s management and its legal and financial advisors, and following receipt of the Special Committee’s recommendation, has unanimously (i) determined that the Transaction is in the best interests of Sangoma, and (ii) approved the Transaction. The Transaction has also been unanimously approved by the board of directors of BRC. The Board recommends that Sangoma Shareholders vote in favour of the Transaction.

Sangoma retained ATB Cormark Capital Markets (“ATB Cormark”) as its financial advisor in connection with its review and consideration of the Transaction. ATB Cormark has provided a fairness opinion to the Special Committee and the Board that, as at the date of this news release, subject to the assumptions, limitations and qualifications set out therein, the Consideration to be received by Sangoma Shareholders pursuant to the Transaction is fair, from a financial point of view, to Sangoma Shareholders.

Officers and directors collectively holding approximately 27% of the issued and outstanding Sangoma Shares have entered into voting support agreements pursuant to which they have agreed to vote their Sangoma Shares in favour of the Transaction.

Strategic Rationale

The Special Committee, in making its unanimous determination to recommend that the Board approve the Transaction, and the Board, to approve the Transaction, considered, among other things, the following factors:

• Attractive Consideration: The Consideration payable under the Transaction represents a premium of approximately 47% and 51% to Sangoma’s closing price and 10-day VWAP, respectively, on the TSX for the period ending on September 28, 2026;

  Certainty of Value and Liquidity: The Consideration delivers immediate certainty of value through the US$4.925 cash component per Sangoma Share (resulting in an aggregate of US$170 million of cash being payable to Sangoma Shareholders). Additionally, the remaining US$0.30² per Sangoma Share is payable in freely tradable BRC Shares, providing shareholders with a marketable security alongside the cash consideration (resulting in an aggregate of US$10 million of BRC Shares being issuable to Sangoma Shareholders);

• Sale Process: Sangoma, with the assistance of ATB Cormark and under the supervision of the Special Committee, conducted a comprehensive sale process which was announced in May 2026, which resulted in the Transaction. The Special Committee and the Board assessed the relative benefits and risks of various alternatives reasonably available to Sangoma, including the other transaction proposals received in the process and continued execution of Sangoma’s strategic plan as a public company;
• Receipt of Fairness Opinion: ATB Cormark has provided a verbal opinion to the Board and the Special Committee to the effect that, as of the date of such opinion and subject to the assumptions, limitations, and qualifications set forth therein, the Consideration to be received by Sangoma Shareholders is fair, from a financial point of view, to Sangoma Shareholders;
• Voting Support Agreements: Officers and directors of Sangoma, collectively holding approximately 27% of the issued and outstanding Sangoma Shares, have entered into voting support agreements pursuant to which they have agreed to, among other things, vote their Sangoma Shares in favour of the Transaction;
• Arrangement Agreement Terms: The terms of the Arrangement Agreement are the result of a comprehensive arm’s length negotiation process with the oversight and participation of the Special Committee and the Board and their legal and financial advisors, which resulted in an agreement with terms and conditions that are reasonable in the judgment of the Special Committee and the Board.

Transaction Detail

The Transaction will be completed by way of a plan of arrangement under the Business Corporations Act (Ontario), pursuant to which BRC will acquire each issued and outstanding Sangoma Share in exchange for the Consideration (the “Arrangement”). On completion of the Arrangement, the Sangoma Shareholders will collectively hold approximately 4% of the issued and outstanding pro forma BRC Shares.

The Arrangement Agreement includes customary non-solicitation provisions, which are subject to customary “fiduciary out” provisions that entitle Sangoma, subject to certain conditions, including the payment of a termination fee in the amount of US$5,397,000, to terminate the Arrangement Agreement and accept an unsolicited superior proposal if BRC does not elect to exercise its right to match such proposal.

The completion of the Transaction is subject to approval of (i) at least two-thirds of the votes cast at a special meeting of Sangoma Shareholders (the “Sangoma Meeting”) and (ii) a simple majority of the votes cast at the Sangoma Meeting, excluding votes from any Sangoma Shareholders required to be excluded under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions, in each case by holders of Sangoma Shares present in person or by proxy at the Sangoma Meeting. The Transaction is also subject to applicable court and regulatory approvals and the satisfaction of certain closing conditions customary in transactions of this nature. The Transaction is not subject to any financing condition. Assuming the timely receipt of all required approvals, the Transaction is expected to close no later than early 2027.

Advisors

ATB Cormark is acting as the exclusive financial advisor and fairness opinion provider to Sangoma. Goodmans LLP is acting as Canadian legal counsel to Sangoma and Norton Rose Fulbright LLP is acting as US legal counsel to Sangoma. Blake, Cassels & Graydon LLP is acting as Canadian legal counsel and Choate, Hall & Stewart LLP, Klein Law Group PLLC and The NBD Group, Inc. are acting as US legal counsel to BRC in connection with the Transaction.

About Sangoma Technologies Corporation

Sangoma (TSX: STC; NASDAQ: SANG) is a leading business communications platform provider with solutions that include its award-winning UCaaS, CCaaS, CPaaS, and Trunking technologies. The enterprise-grade communications suite is developed in-house; available for cloud, hybrid, or on-premises setups. Additionally, Sangoma provides managed services for connectivity, network, and security. A trusted communications partner with over 40 years on the market, Sangoma has over 2.7 million UC seats across a diversified base of over 100,000 customers. Sangoma has been recognized for nine years running in the Gartner UCaaS Magic Quadrant. As the primary developer and sponsor of the open source Asterisk and FreePBX projects, Sangoma is determined to drive innovation in communication technology continuously. For more information, visit www.sangoma.com.

About BRC Group Holdings, Inc.

BRC Group Holdings, Inc. (NASDAQ: RILY) is a diversified holding company with established operations across financial services, communications, and retail, as well as strategic investments in equity, debt, and venture capital. The company’s communications portfolio delivers a comprehensive suite of consumer and business solutions, encompassing traditional, mobile, and cloud-based communications, data, internet, security, and email. BRC strategically deploys capital within and beyond its core financial services platform to drive shareholder value through opportunistic investments. For more information, please visit www.brcgh.com.

Forward-Looking Statements

Certain statements contained in this news release constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and U.S. securities legislation (collectively, “forward-looking statements”). Forward-looking statements may relate to the future outlook of Sangoma or BRC and anticipated events or results and may include statements regarding the financial position, business strategy, projected costs, financial results, plans and objectives of or involving Sangoma or BRC.

Particularly, statements regarding the Transaction, including the proposed timing and various steps contemplated in respect of the Arrangement, the ability to complete the Arrangement and the other transactions contemplated by the Arrangement Agreement, including the parties’ ability to satisfy the conditions to the consummation of the Arrangement, the receipt of the required shareholder approval, regulatory approval, court approval and other closing conditions, the possibility of any termination of the Arrangement Agreement in accordance with its terms, the expected benefits to the parties and their respective shareholders and other stakeholders of the Arrangement, expectations regarding operational synergies, expanded platform reach, technology integration and enhanced product capabilities, growth opportunities and competitive positioning of the combined business, the anticipated pro forma ownership of Sangoma Shareholders in the combined entity, the expected timing for the completion of the Arrangement, the anticipated sources of funds for financing the Arrangement, the treatment of Sangoma’s incentive securities, post-closing employment matters, and statements regarding the plans, objectives and intentions of Sangoma and BRC, are forward-looking statements.

In some cases, forward-looking statements can be identified by the use of words such as “may”, “might”, “will”, “could”, “should”, “would”, “occur”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “seek”, “estimate”, “predict”, “potential”, “continue”, “likely”, “schedule”, or the negative thereof or other similar expressions concerning matters that are not historical facts. These statements are not historical facts but instead represent management’s expectations, estimates and projections regarding future events and circumstances.

These forward-looking statements are based on certain factors and assumptions about future events and financial trends that, while considered reasonable by Sangoma and BRC as of the date of this news release, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies. These risks and uncertainties include, but are not limited to, risks and uncertainties relating to: the failure of the parties to obtain necessary shareholder, regulatory and court approvals or to otherwise satisfy the conditions to the completion of the Arrangement; the failure to realize the anticipated benefits of the Arrangement; the potential impact of the announcement or consummation of the Arrangement on Sangoma or BRC’s commercial relationships, including those with employees, suppliers, customers and competitors; general economic conditions; changes in the regulatory environment; fluctuations in interest rates and currency exchange rates; volatility in the equity and debt markets; actions of competitors; the ability to successfully integrate the businesses of Sangoma and BRC; and other risks and uncertainties detailed from time to time in Sangoma’s publicly filed disclosure documents, including those filed under its profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov, and in BRC’s periodic reports filed with the U.S. Securities and Exchange Commission.

Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Actual results may differ materially from those expressed or implied by the forward-looking statements contained in this news release. Except as required by applicable law, neither Sangoma nor BRC undertakes any obligation to update publicly or to revise any of the forward-looking statements contained or incorporated by reference herein, whether as a result of new information, future events or otherwise. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

___________________

1 CAD / USD fx rate of 1.417.

2 Based on BRC’s 20-day VWAP on the NASDAQ as of September 28, 2026.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260928333255/en/

For BRC Group Holdings, Inc.:

Investors

Mike Frank

[email protected]

Media

Jo Anne McCusker

[email protected]

For Sangoma Technologies Corporation:

Samantha Reburn

Chief Legal & Administrative Officer

[email protected]

1385-3370-0644

KEYWORDS: United States North America Canada California

INDUSTRY KEYWORDS: Technology Human Resources Finance Security Business Professional Services Software Networks Artificial Intelligence

MEDIA:

Logo

AstraZeneca Makes $2 Billion Strategic Equity Investment in Summit Therapeutics

Investment in Preferred Shares Convertible to Common Equity, Equivalent to a Per-Share Price of Summit’s Common Stock of $18.36, Representing a Premium over Today’s Closing Trading Price

Summit Also Enters into Clinical Trial Collaboration with AstraZeneca to Evaluate Ivonescimab in Combination with Sonesitatug Vedotin in Multiple Gastrointestinal Cancers

Summit & AstraZeneca Plan to Enter into a Clinical Trial Collaboration Combining Ivonescimab with Multiple AstraZeneca ADCs and Other Cancer Medicines

MIAMI–(BUSINESS WIRE)–
Summit Therapeutics Inc. (Nasdaq: SMMT) today announced key developments important to the company’s progress towards achieving its goal of making a significant difference in the lives of patients with cancer. Specifically, Summit has established agreements with AstraZeneca (LSE/STO/NYSE: AZN) for a strategic equity investment in Summit and a clinical collaboration focused on ivonescimab and sonesitatug vedotin (sone-ve). Moreover, Summit and AstraZeneca intend to evaluate ivonescimab with an additional set of AstraZeneca’s cancer medicines, including other antibody drug conjugates (ADCs). Ivonescimab is a novel, potential first-in-class investigational PD-1 / VEGF bispecific antibody.

AstraZeneca Equity Investment in Summit

Summit and AstraZeneca have entered into an agreement whereby AstraZeneca will make an equity investment of $2.0 billion in convertible preferred shares. At the conversion ratio, the investment represents a common stock price equal to $18.36 representing a premium over today’s closing price.

“This significant investment, as well as the collaboration, is a powerful validation of the potential of ivonescimab,” said Robert W. Duggan, Chairman and Co-Chief Executive Officer of Summit Therapeutics. “We are proud to welcome AstraZeneca as a strategic investor as we continue to work with purposeful urgency to make a significant difference for patients with cancer by improving outcomes.”

Summit – AstraZeneca Clinical Trial Collaboration: Ivonescimab and Sone-Ve

Summit entered into a clinical collaboration agreement with AstraZeneca to evaluate sonesitatug vedotinin combination with ivonescimab with the intent to start studies in certain gastrointestinal (GI) cancer settings imminently. Sone-ve is a potential global first-in-class Claudin 18.2-targeting ADC with several ongoing trials underway in GI cancers.

Under the terms of the clinical collaboration agreement, each company will contribute their respective compound for the combination studies to be conducted, and the parties will jointly contribute to the costs of such studies, which are intended to be sponsored by AstraZeneca. Each company will retain development and commercial rights to their respective molecules.

“The developments announced today with AstraZeneca open an exciting new chapter in the advancement of ivonescimab,” said Dr. Maky Zanganeh, President and Co-Chief Executive Officer of Summit Therapeutics. “With a growing body of evidence supporting ivonescimab’s differentiated PD-1 / VEGF bispecific approach, we look forward to further broadening the development plan of ivonescimab and initiating new clinical trials exploring the potential to combine ivonescimab with promising novel anti-cancer compounds, including ADCs, to bring together complementary approaches to tumor-cell killing, antitumor immunity, and the tumor microenvironment.”

AstraZeneca recently reported positive high-level results from the CLARITY-Gastric01 trial for sone-ve in 2nd and later-line Claudin18.2-positive advanced gastric cancers demonstrating a statistically significant and clinically meaningful improvement in overall survival (OS) versus investigator’s choice of therapy. Results from this trial will be presented at the European Society for Medical Oncology Congress 2026 in a Presidential Symposium alongside the HARMONi-GI1 trial, an Akeso-sponsored trial from China in which ivonescimab plus chemotherapy demonstrated a statistically significant and clinically meaningful improvement in OS vs. durvalumab plus chemotherapy in first-line advanced biliary tract cancer.

Planned Summit – AstraZeneca Clinical Trial Collaboration: Ivonescimab and AZ’s Cancer Medicines

Finally, Summit and AstraZeneca have executed a non-binding Memorandum of Understanding whereby the two companies intend to enter into an agreement to conduct clinical trials combining ivonescimab with multiple AstraZeneca’s cancer medicines, including its leading portfolio of ADCs. The companies intend to share clinical development costs of potential future studies. Each company will retain their current development and commercial rights to their respective molecules, and the agreement is mutually non-exclusive. There are no additional financial considerations associated with milestones, royalties, revenue-sharing, or profit-sharing.

“A core pillar of our oncology strategy is to broaden the reach of our ADC portfolio as the backbone of treatment across tumor types with combinations alongside next-generation immunotherapies,” said Susan Galbraith, Executive Vice President, Oncology Haematology R&D, AstraZeneca. “Bispecifics targeting PD-1 and VEGF are rapidly advancing in development and have the potential to improve on current immunotherapies, particularly in lung, breast and gastrointestinal cancers. This opportunity to combine ivonescimab with AstraZeneca’s ADC portfolio, including with sone-ve, could enable new regimens that raise the bar for patients with cancer across the treatment landscape.”

The Memorandum of Understanding with respect to the potential clinical trial collaboration between Summit and AstraZeneca is non-binding, and there can be no assurances that the intended clinical trial collaboration comes to fruition.

Financial Terms of AstraZeneca Equity Investment

Under the terms of the Share Purchase Agreement entered into by Summit and AstraZeneca, AstraZeneca will purchase an aggregate of approximately 108,955 shares of preferred stock convertible into shares of common stock of Summit at a 1:1,000 ratio. The total investment by AstraZeneca will be $2.0 billion. At the conversion ratio, the investment represents a common stock price equal to $18.36, the volume weighted-average price (VWAP) for the five trading days from the prior week plus 10%. Closing of the transaction is subject to customary conditions and is expected to occur by the end of this week.

The securities described above have not been registered under the Securities Act of 1933, as amended. Accordingly, these securities may not be offered or sold in the United States, except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act. Summit has agreed to file a registration statement with the Securities and Exchange Commission (SEC) registering the resale of the shares of common stock following the closing of the securities purchase agreement.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About Ivonescimab

Ivonescimab, known as SMT112 in Summit’s license territories, North America, South America, Europe, the Middle East, Africa, and Japan, and as AK112 outside of Summit’s license territories, is a novel, potential first-in-class investigational bispecific antibody combining the effects of immunotherapy via a blockade of PD-1 with the anti-angiogenesis effects associated with blocking VEGF into a single molecule. By design, ivonescimab displays unique cooperative binding to each of its intended targets with multifold higher affinity to PD-1 when in the presence of VEGF.

This design is intended to differentiate ivonescimab as there is potentially higher expression (presence) of both PD-1 and VEGF in tumor tissue and the tumor microenvironment (TME) as compared to normal tissue in the body. Summit believes ivonescimab’s specifically engineered tetravalent structure (four binding sites) enables higher avidity (accumulated strength of multiple binding interactions) in the TME (Zhong, et al, iScience, 2025). This tetravalent structure, the intentional novel design of the molecule, and bringing these two targets into a single bispecific antibody with cooperative binding qualities have the potential to direct ivonescimab to the tumor tissue versus healthy tissue. The intent of this design, together with a half-life of 6 to 7 days after the first dose (Zhong, et al, iScience, 2025) increasing to approximately 10 days at steady state dosing, is to improve upon previously established efficacy thresholds, side effects, and safety profiles associated with prior approved drugs to these targets.

Ivonescimab was engineered by Akeso Inc. (HKEX Code: 9926.HK) and is currently utilized in multiple Phase III clinical trials. Over 5,000 patients have been treated with ivonescimab in clinical studies globally, and over 100,000 patients when considering those treated in a commercial setting in China, as noted by Akeso.

There are currently 16 Phase III clinical studies that are either announced, ongoing, or have been completed studying ivonescimab, five of which are Summit-sponsored global studies, one of which is a multiregional study sponsored by a cooperative group, and 10 of which are being or have been conducted in China by Akeso. Summit began its clinical development of ivonescimab in NSCLC, commencing enrollment in 2023 in two multiregional Phase III clinical trials, HARMONi and HARMONi-3. In 2025, Summit began enrolling patients in HARMONi-7. Summit expanded its Phase III clinical development program into colorectal cancer (CRC) in the fourth quarter of 2025 by initiating enrollment in HARMONi-GI3. In 2026, Summit announced initiation of HARMONi-GU1, a Phase II/III study in urothelial carcinoma (bladder cancer) with global clinical trial site activations planned to begin by the fourth quarter of 2026.

HARMONi is a Phase III clinical trial evaluating ivonescimab combined with chemotherapy compared to placebo plus chemotherapy in patients with EGFR-mutated, locally advanced or metastatic non-squamous NSCLC who were previously treated with a third-generation EGFR TKI (e.g., osimertinib). Detailed results of the study were provided in September 2025, and a Biologics License Application (BLA) was submitted to the United States Food and Drug Administration (FDA) for marketing authorization, which the FDA accepted for filing in January 2026; the goal Prescription Drug User Fee Act (PDUFA) date is November 14, 2026.

HARMONi-3 is a Phase III clinical trial evaluating ivonescimab combined with chemotherapy compared to pembrolizumab combined with chemotherapy in patients with first-line metastatic, squamous or non-squamous NSCLC, irrespective of PD-L1 expression. The clinical trial is evaluating the two histologies as individual, separately powered cohorts with independent statistical powering.

HARMONi-7 is a Phase III clinical trial evaluating ivonescimab monotherapy compared to pembrolizumab monotherapy in patients with first-line metastatic NSCLC whose tumors have high PD-L1 expression.

HARMONi-GI3 is a Phase III clinical trial evaluating ivonescimab in combination with chemotherapy compared with bevacizumab plus chemotherapy in patients with first-line unresectable metastatic CRC.

HARMONi-GU1 is a Phase II/III clinical trial evaluating ivonescimab plus the antibody drug conjugate (ADC) enfortumab vedotin (EV) compared to pembrolizumab plus EV as first-line therapy in patients with previously untreated locally advanced or metastatic urothelial carcinoma (la/mUC).

ILLUMINE is a Phase III study being conducted by GORTEC, a cooperative group dedicated to Head and Neck Oncology, in recurrent / metastatic head and neck squamous cell carcinoma (r/m HNSCC). ILLUMINE is a three-arm Phase III clinical trial designed to evaluate ivonescimab monotherapy, as well as ivonescimab in combination with ligufalimab, Akeso’s proprietary anti-CD47 monoclonal antibody, compared to monotherapy pembrolizumab in patients with PD-L1 positive r/m HNSCC.

Five Phase III ivonescimab clinical trials have read out to date, all five with positive data. Four of these five studies are in NSCLC, and one is in biliary tract cancer (BTC). In addition to Summit’s positive HARMONi study, Akeso has had positive read-outs in three single-region (China), randomized Phase III clinical trials, HARMONi-A, HARMONi-2, and HARMONi-6, for ivonescimab in NSCLC, including a statistically significant overall survival benefit in all three studies from China. Akeso has also reported a statistically significant OS benefit in the single-region (China), randomized Phase III HARMONi-GI1 trial in advanced BTC.

HARMONi-A was a Phase III clinical trial which evaluated ivonescimab combined with chemotherapy compared to placebo plus chemotherapy in patients with EGFR-mutated, locally advanced or metastatic non-squamous NSCLC who have progressed after treatment with an EGFR TKI.

HARMONi-2 is a Phase III clinical trial evaluating monotherapy ivonescimab against monotherapy pembrolizumab in patients with locally advanced or metastatic NSCLC whose tumors have positive PD-L1 expression.

HARMONi-6 is a Phase III clinical trial evaluating ivonescimab in combination with platinum-based chemotherapy compared with tislelizumab, an anti-PD-1 antibody, in combination with platinum-based chemotherapy in patients with locally advanced or metastatic squamous NSCLC, irrespective of PD-L1 expression.

HARMONi-GI1 is a Phase III clinical trial evaluating ivonescimab in combination with chemotherapy compared with durvalumab plus chemotherapy as a first-line treatment for patients with advanced BTC.

Akeso is actively conducting additional Phase III clinical studies in settings outside of NSCLC and biliary-tract cancer, including triple-negative breast cancer, head and neck squamous cell carcinoma, small cell lung cancer, colorectal cancer, and pancreatic cancer.

Ivonescimab is an investigational therapy that is not approved by any regulatory authority in Summit’s license territories, including the United States and Europe. Ivonescimab was initially approved for marketing authorization in China in May 2024.

About Summit Therapeutics Inc.

Summit Therapeutics Inc. is a biopharmaceutical oncology company focused on the discovery, development, and commercialization of patient-, physician-, caregiver- and societal-friendly medicinal therapies intended to improve quality of life, increase potential duration of life, and resolve serious unmet medical needs.

Summit was founded in 2003 and the company’s shares are listed on the Nasdaq Global Market (symbol “SMMT”). Summit is headquartered in Miami, Florida, with additional offices in Palo Alto, California, Princeton, New Jersey, Dublin, Ireland, and Oxford, UK.

For more information, please visit https://www.smmttx.com and follow Summit on X @SMMT_TX.

Summit Forward-Looking Statements

Any statements in this press release about the Company’s future expectations, plans and prospects, including but not limited to, statements about the risk that the private placement does not close on the anticipated timeline or at all, including because required regulatory clearances are not obtained or other closing conditions are not satisfied, dilution to existing stockholders, and potential adverse effects on the market price of the Company’s common stock, including from future sales by AstraZeneca, the Company’s broad discretion over the use of proceeds, and the possibility that the proceeds will not be sufficient to fund operations as long as anticipated, AstraZeneca’s ownership and contractual rights, including Third Party acquisition participation, and registration rights, and potential conflicts of interest, the completion of the Private Placement does not depend on the parties entering into a definitive collaboration agreement, the Company’s reliance on AstraZeneca for the supply of AstraZeneca’s products and other contributions to the clinical trials, the clinical and preclinical development of the Company’s product candidates, entry into and actions related to the Company’s partnership with Akeso Inc. and other collaborations, the intended use of the net proceeds from the private placements, the Company’s anticipated spending and cash runway, the therapeutic potential of the Company’s product candidates, the potential commercialization of the Company’s product candidates, the timing of initiation, completion and availability of data from clinical trials, the potential submission of applications for marketing approvals, the expected timing of BLA submissions or FDA decisions, potential acquisitions, statements about the previously disclosed At-The-Market equity offering program (“ATM Program”), the expected proceeds and uses thereof, the Company’s estimates regarding stock-based compensation, and other statements containing the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “would,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the Company’s ability to sell shares of our common stock under the ATM Program, the conditions affecting the capital markets, general economic, industry, or political conditions, including the effects of geopolitical developments, domestic and foreign trade policies, and monetary policies, the results of our evaluation of the underlying data in connection with the development and commercialization activities for ivonescimab, the outcome of discussions with regulatory authorities, including the Food and Drug Administration, the uncertainties inherent in the initiation of future clinical trials, availability and timing of data from ongoing and future clinical trials, the results of such trials, and their success, global public health crises, that may affect timing and status of our clinical trials and operations, whether preliminary results from a clinical trial will be predictive of the final results of that trial or whether results of early clinical trials or preclinical studies will be indicative of the results of later clinical trials, whether business development opportunities to expand the Company’s pipeline of drug candidates, including without limitation, through potential acquisitions of, and/or collaborations with, other entities occur, expectations for regulatory approvals, laws and regulations affecting government contracts and funding awards, availability of funding sufficient for the Company’s foreseeable and unforeseeable operating expenses and capital expenditure requirements and other factors discussed in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of filings that the Company makes with the Securities and Exchange Commission. Summit defines a “positive study” as a clinical study with one or more prespecified primary endpoints in which one of those endpoints achieves a statistically significant benefit according to the protocol or statistical analysis plan. Any change to our ongoing trials could cause delays, affect our future expenses, and add uncertainty to our commercialization efforts, as well as to affect the likelihood of the successful completion of clinical development of ivonescimab. Accordingly, readers should not place undue reliance on forward-looking statements or information. In addition, any forward-looking statements included in this press release represent the Company’s views only as of the date of this release and should not be relied upon as representing the Company’s views as of any subsequent date. The Company specifically disclaims any obligation to update any forward-looking statements included in this press release.

Summit Therapeutics and the Summit Therapeutics logo are registered trademarks of Summit Therapeutics Inc. and/or its affiliates. Copyright © 2026, Summit Therapeutics Inc. All Rights Reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260928506972/en/

Summit Therapeutics’ Media & Investor Contacts:

Nathan LiaBraaten

Senior Director, Investor Relations

Tracy Jones

Director, Media & Public Relations

[email protected]

[email protected]

KEYWORDS: United States North America Florida

INDUSTRY KEYWORDS: Research Clinical Trials Biotechnology Health Pharmaceutical General Health Other Science Science Oncology

MEDIA:

Logo