Posts

Posted on

H2O America Receives Regulatory Approval for Texas Subsidiary’s Cibolo Valley Acquisition

Transaction Expected to Close Nov. 1, 2026

SAN JOSE, Calif. and CANYON LAKE, Texas, Sept. 21, 2026 (GLOBE NEWSWIRE) — H2O America (NASDAQ: HTO) today announced that its regulated Texas water and wastewater utility, The Texas Water Company, Inc. (“TWC”), has received the regulatory approval needed to complete its acquisition of the Cibolo Valley wastewater treatment plant and associated collection systems from South Central Water Company (“SCW”). The transaction is expected to close on Nov. 1, 2026.

The acquisition more than doubles TWC’s wastewater connections within its existing Texas Hill Country footprint and creates opportunities for greater operational efficiency with a customer base already served by TWC’s water service.

“We look forward to adding the Cibolo Valley wastewater treatment plant and associated collection systems to our existing TWC operations as we continue to invest in critical infrastructure across our service footprint serving nearly 90,000 people,” said Aundrea Williams, president, TWC. “Our local teams know these communities and their needs well, and we’re committed to delivering high-quality, reliable water services our customers expect.”

About Texas Water Company

The Texas Water Company has successfully provided high-quality and reliable water and wastewater service to its customers in Texas since 2006 and safeguards public health, promotes environmental stewardship, and delivers sustainable solutions in seven counties. We provide a broad range of solutions to the communities we serve, from management of water and wastewater treatment infrastructure to the design and implementation of water reuse technology, water supply development and more. For more information about The Texas Water Company, please visit www.txwaterco.com.

About H2O America

H2O America is among the largest investor-owned pure-play water and wastewater utilities in the United States, providing life-sustaining and high-quality water service to over 1.6 million people. H2O America’s locally led and operated water utilities – San Jose Water Company in California, The Connecticut Water Company in Connecticut, The Maine Water Company in Maine, and SJWTX, Inc. (dba The Texas Water Company) in Texas – possess the financial strength, operational expertise, and technological innovation to safeguard the environment, deliver outstanding service to customers, and provide opportunities to employees. H2O America remains focused on investing in its operations, remaining actively engaged in its local communities, and delivering continued sustainable value to its stockholders. For more information about H2O America, please visit www.h2o-america.com.

About South Central Water Company

South Central Water Company (dba South Central Wastewater) is a family owned and operated wastewater utility company in Texas. In its 50 years of doing business, South Central has built over 800 wastewater treatment plants all across the state. As Texas continues to see an increase in population, South Central has focused its efforts on providing developers wastewater solutions to land parcels outside of current service areas. South Central has a robust pipeline with wastewater discharge permits that have the capacity to serve over 70,000+ customers and over a dozen new projects that will be breaking ground in the next five years.

Forward Looking Statements

This release contains forward-looking statements within the meaning of the federal securities laws relating to future events and future results of H2O America and its subsidiaries that are based on current expectations, estimates, forecasts, and projections about H2O America and its subsidiaries and the industries in which H2O America and its subsidiaries operate and the beliefs and assumptions of the management of H2O America. Some of these forward-looking statements can be identified by the use of forward-looking words such as “believes,” “expects,” “projects,” “plans,” “estimates,” “anticipates,” “intends,” “seeks,” “plans,” “will,” “may,” “should,” “approximately,” “strategy,” or the negative of those words or other comparable terminology. These forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual results may differ materially and adversely from those expressed or forecasted in any forward-looking statements. The accuracy of such statements is subject to a number of risks, uncertainties and assumptions including, but not limited to, the following factors: (1) the risk that the transaction may not close on the anticipated timeline, or at all; (2) the ability to successfully integrate South Central Water Company’s operations and realize the projected financial and other benefits of the transaction, including the expectation that it will be accretive to H2O America’s long-term EPS growth rate; (4) the continued availability and performance of H2O America’s workforce and leadership teams during and after the transition; (5) the effect of water, utility, environmental and other governmental policies and regulations, including regulatory actions concerning rates, authorized return on equity, authorized capital structures, capital expenditures, per- and polyfluoroalkyl substances and other decisions; (6) changes in demand for water and other services; (7) catastrophic events such as fires, earthquakes, explosions, floods, ice storms, tornadoes, hurricanes, terrorist acts, physical attacks, cyber-attacks, epidemic, or similar occurrences; (8) unanticipated weather conditions and changes in seasonality including those affecting water supply and customer usage; (9) the effect of the impact of climate change; (10) unexpected costs, charges, expenses, delays or operational challenges in scaling infrastructure and expanding service; (11) our ability to successfully evaluate investments in new business and growth initiatives; (12) contamination of our water supplies and damage or failure of our water equipment and infrastructure; (13) the risk of work stoppages, strikes, and other labor-related actions; (14) changes and developments in general economic, political, legislative, business and financial market conditions; and (15) the ability to obtain financing on favorable terms, or at all (including financing for the transaction in a timely manner), which can be affected by various factors, including credit ratings, changes in interest rates, compliance with regulatory requirements, compliance with the terms and conditions of our outstanding indebtedness, and general market and economic conditions.

The risks, uncertainties and other factors may cause the actual results, performance or achievements of H2O America to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

In addition, actual results are subject to these and other risks and uncertainties that relate more broadly to our overall business, including those more fully described in our filings with the SEC, including our most recent reports on Form 10-K, Form 10-Q and Form 8-K. Forward-looking statements are not guarantees of future performance, and speak only as of the date made, and H2O America undertakes 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.

Texas Water Company Contact:

Brittany Pichler
Communications Supervisor
[email protected]



Posted on

LI BANG INTERNATIONAL CORPORATION INC. Announces Adjournment of Extraordinary General Meeting

JIANGYIN, China, Sept. 21, 2026 (GLOBE NEWSWIRE) — Li Bang International Corporation Inc. (“Li Bang International”) and its subsidiaries (collectively, the “Company,” “we,” “us,” “our company,” or “Li Bang”) (Nasdaq: LBGJ), a company engaged in designing, developing, producing, and selling stainless steel commercial kitchen equipment in China, today announced that its Extraordinary General Meeting of Shareholders (the “Meeting”) has been adjourned to September 22, 2026 at 9:30 a.m., Eastern Time, at the Company’s principal office, due to the absence of a quorum.

The Meeting was originally held on September 21, 2026 at 9:30 a.m., Eastern Time, at the Company’s principal office. Under Section 17.6 of the Company’s currently effective amended and restated memorandum and articles of association (the “M&A”), a quorum requires holders representing not less than one-third (1/3) of the outstanding ordinary shares carrying the right to vote at the meeting, with the Class A ordinary shares and Class B ordinary shares counted together. Following the scheduled start time and a waiting period of two (2) hours, the Company’s duly appointed inspector of elections confirmed that the shares represented in person and by proxy were insufficient to constitute a quorum.

Accordingly, in accordance with Section 17.7 of the M&A, the Meeting was adjourned to the next business day and will reconvene on September 22, 2026 at 9:30 a.m., Eastern Time, at the Company’s principal office, the same location as the original meeting.

The notice of Meeting and form of proxy card previously distributed to shareholders in connection with the Meeting, and publicly filed with the U.S. Securities and Exchange Commission (the “SEC”) as exhibits in the Company’s current report on Form 6-K, remain in effect for the adjourned meeting in all other aspects. The record date, the proposals to be considered and the ballots already submitted in respect of the Meeting also remain valid and in effect for the reconvened meeting.

Shareholders who have already voted do not need to take any further action, and their previously submitted voting instructions will be counted at the reconvened meeting unless properly revoked.

The Company encourages shareholders who have not yet voted to submit their ballots or proxies in advance of the reconvened meeting.

About Li Bang International Corporation Inc.

Li Bang International Corporation Inc. specializes in the development, production, and sale of stainless-steel commercial kitchen equipment under its own “Li Bang” brand in China. In addition to its product offerings, the Company provides comprehensive services from early-stage design of commercial kitchen appliances to equipment installation and after-sales maintenance. Committed to innovation and high-quality, the Company uses modern production facilities and mature procedures and strives to become a first-class commercial kitchen appliance manufacturer in China. The Company’s long-term vision is to establish itself as a household name, synonymous with the products it manufactures. For more information, please visit the company’s website at https://ir.libangco.cn.

Forward Looking Statements

Certain statements in this announcement constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may”, “could”, “will”, “should”, “would”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “project” or “continue” or the negative of these terms or other comparable terminology. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s financial results filings with the U.S. Securities and Exchange Commission.

CONTACTS

Li Bang International Corporation Inc.

Investor Relations Department
Email: [email protected]

WFS Investor Relations  
Email: [email protected]
Phone: +1 628 283 9214



Posted on

Anaptys Announces Second Quarter and Transitional Fiscal Year 2026 Financial Results and Provides Business Update

  • Jemperli global net sales of $644 million (£480 million) for the six months ended June 30, 2026, representing 34% year-over-year growth
  • Positive interim results from the pivotal AZUR-1 trial of Jemperli in untreated stage II/III dMMR/MSI-H locally advanced rectal cancer announced in July; FDA PDUFA action date of February 2027 with eligibility for expedited review through the National Priority Voucher program, which could result in an earlier FDA decision
  • Litigation with GSK and Tesaro: trial held in July; post-trial hearing scheduled for October 20, 2026, with a judgement anticipated in Q4 2026 or Q1 2027

SAN DIEGO, Sept. 21, 2026 (GLOBE NEWSWIRE) — AnaptysBio, Inc. (Nasdaq: ANAB), a company focused on managing the financial collaborations for Jemperli with Tesaro, a GSK company, and Quimilza (imsidolimab) with Vanda, today reported financial results for the second quarter and transitional fiscal year ended June 30, 2026, and provided a business update.

“Jemperli continues to demonstrate robust year-over-year growth with major catalysts within the next 6 months including further sales acceleration ex-US, anticipated FDA approval of Jemperli in monotherapy in dMMR/MSI-H neoadjuvant rectal cancer, as well as a judgement expected in our litigation with GSK and Tesaro,” said Daniel Faga, president and chief executive officer. “In addition to Jemperli, we anticipate FDA approval of Quimilza in GPP in December 2026.”

GSK

Jemperli

Financial Collaboration

  • GSK announced strong commercial performance for Jemperli
    • $331 million (£248 million) in global net sales for the three months ended June 30, 2026, representing 26% year-over-year growth1
    • $644 million (£480 million) in global net sales for the six months ended June 30, 2026, representing 34% year-over-year growth1
  • Anaptys continues to expect to achieve >$390 million in annualized Jemperli royalties payable to Anaptys as early as 2029 at GSK’s peak monotherapy sales guidance of > $2.7 billion2
  • Anaptys estimates Sagard will have accrued ~$301 million in royalties and sales milestones through Q2 2026 and anticipates paydown of the remaining ~$299 million non-recourse debt monetization in the second half of 2027
  • Jemperli development and regulatory updates include:

    • AZUR-1 – pivotal Phase 2 – dostarlimab monotherapy in untreated stage II/III dMMR/MSI-H locally advanced rectal cancer
      • In July 2026, GSK announced positive interim results from the trial, which met its primary objective by demonstrating a meaningful and sustained clinical complete response rate for 12 months (cCR12) with no detectable signs of cancer for at least one year
      • The FDA has assigned a PDUFA action date of February 2027
        • Received an FDA Commissioner’s National Priority Voucher (CNPV) in Nov. 2025; eligible for an expedited review which could result in an earlier FDA decision
      • GSK to present first results from the AZUR-1 trial as a late-breaking abstract at ESMO Congress 2026 in Madrid, Spain on Oct. 25, 2026
    • AZUR-2 – pivotal Phase 3 – dostarlimab versus standard of care in untreated TN40 or stage III dMMR/ MSI-H resectable colon cancer
      • Data expected in 2028
    • AZUR-4 – Phase 2 – dostarlimab plus chemotherapy versus standard of care (chemotherapy) in untreated stage III MMRp/MSS resectable colon cancer
      • Primary completion date in Q4 2026
    • JADE – pivotal Phase 3 – dostarlimab monotherapy versus placebo in locally advanced unresected head and neck squamous cell carcinoma (PD-L1 CPS≥1) post chemoradiation
      • Data expected in 2028

Vanda

Quimilza

(imsidolimab) Financial Collaboration

  • FDA target action date (PDUFA) of Dec. 12, 2026, for Quimilza in generalized pustular psoriasis (GPP)
  • In August 2026, Vanda announced it received Orphan Designation from the European Commission for imsidolimab for the treatment of GPP

GSK and Tesaro Litigation Update

  • The trial was held before the Delaware Chancery Court from July 14-17, 2026
  • The Court has requested the parties submit post-trial briefs in advance of a post-trial hearing, which has been scheduled for October 20, 2026
    • Anaptys filed its opening post-trial brief on August 21, 2026, GSK and Tesaro will file their answering post-trial brief on or before September 25, 2026, and Anaptys will file its reply post-trial brief on or before October 9, 2026
  • Anaptys is seeking reversion of Jemperli rights as a remedy; the Company anticipates a judgement in Q4 2026 or Q1 2027

Second Quarter Financial Results

  • The separation of AnaptysBio and First Tracks Biotherapeutics was completed on April 20, 2026. Beginning in the second quarter of 2026, AnaptysBio reclassified historical First Tracks Biotherapeutics, Inc. related assets, liabilities and expenses as discontinued operations.
  • On May 18, 2026, Anaptys changed its fiscal year-end from December 31 to June 30. The Company will begin to file quarterly reports based on the new fiscal year beginning with the quarter ending September 30, 2026.
  • As of June 30, 2026, Anaptys has not repurchased any shares under its $100 million Stock Repurchase Plan, which will expire on December 31, 2026, may be suspended or discontinued at any time, and does not obligate the company to acquire any amount of common stock.
  • Cash, cash equivalents and investments totaled $164.1 million as of June 30, 2026, compared to $211.6 million as of December 31, 2025, for a decrease of $47.5 million due primarily to $72.9 million for operating activities offset by $25.4 million received from stock option exercises.  
  • Collaboration revenue was $27.5 million and $53.0 million for the three and six months ended June 30, 2026, compared to $22.3 million and $50.0 million for the three and six months ended June 30, 2025. The increase is primarily due to Jemperli royalties increasing 25% and 34% for the three and six months ended June 30, 2026, offset by $9.7 million in revenue recognized for the Vanda license agreement for the three month and six months ended June 30, 2025.
  • General and administrative expenses were $16.0 million and $23.4 million for the three and six months ended June 30, 2026, compared to $4.0 million and $8.3 million for the three and six months ended June 30, 2025. The increase was due primarily to legal costs for the separation of the company and the GSK and Tesaro lawsuit and non-cash stock compensation.
  • Research and development expenses from continuing operations were a negative $2.7 million for the six months ended June 30, 2026, compared to a negative $1.7 million six months ended June 30, 2025. The negative balance for the six months ended June 30, 2026, was primarily due adjustments related to the closeout of clinical contracts reducing expenses incurred prior to the separation.
  • Benefit for income taxes for continuing operations was $181.5 million for the six months ended June 30, 2026. The benefit recognized was primarily due to the release of the valuation allowance on deferred tax assets due to the anticipated usage of deferred tax assets in the future due to the separation from First Tracks Biotherapeutics.
  • Net income from continuing operations was $177.3 million and $176.4 million for the three and six months ended June 30, 2026, or a basic net income per share of $6.06 and $6.09, compared to a net income from continuing operations of $5.7 million and $16.6 million for the three and six months ended June 30, 2025, or a basic net income per share of $0.20 and $0.56.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to future commercial and regulatory developments for Jemperli and Quimilza, future royalty amounts, the Company’s expected paydown of its obligations to Sagard, and the outcome of the Company’s ongoing litigation with GSK. Statements including words such as “plan,” “continue,” “expect,” or “ongoing” and statements in the future tense are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they do not fully materialize or prove incorrect, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are subject to risks and uncertainties that may cause the company’s actual activities or results to differ significantly from those expressed in any forward-looking statement, including risks and uncertainties related to commercial success of the Company’s licensed products, the company’s ability to protect its financial collaborations and return value to its shareholders, the company’s ability to operate efficiently with a limited staff, and other risks and uncertainties described under the heading “Risk Factors” in documents the company files from time to time with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this press release, and the company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.

About Anaptys

Anaptys manages the financial collaborations for Jemperli with GSK and Quimilza with Vanda, with a focus on protecting and returning the value of its royalties to shareholders. To learn more, visit www.AnaptysBio.com or follow us on LinkedIn.

Contact:

Chris Murphy
Chief Financial Officer
[email protected]

_______________________________________

1. GSK Q2 2026 earnings call, 7/28/2026

2. CEO Emma Walmsley, 2025 JP Morgan CEO Series fireside chat, 9/11/2025, “there’s no change to our peak year sales overall ambition for Jemperli, that’s for sure, which is far more than £2 billion.”; Converted from GBP to USD using Q3 2025 average exchange rate (1.35x)

           
AnaptysBio, Inc.

Consolidated Balance Sheets

(in thousands, except par value data)
           
  June 30, 2026     December 31, 2025  
ASSETS          
Current assets:          
Cash and cash equivalents $ 133,826     $ 138,196  
Receivables from collaborative partners   25,634       33,850  
Short-term investments   30,317       73,442  
Prepaid expenses and other current assets   8,650       —  
Current assets of discontinued operations   —       104,762  
Total current assets   198,427       350,250  
Property and equipment, net   102       111  
Deferred tax asset   106,639       —  
Operating lease right-of-use assets   11,560       12,519  
Other long-term assets   256       256  
Non-current assets of discontinued operations   —       1,259  
Total assets $ 316,984     $ 364,395  
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)          
Current liabilities:          
Accounts payable $ 4,394     $ 3,871  
Accrued expenses   28,798       32,674  
Current portion of operating lease liability   2,161       2,080  
Total current liabilities   35,353       38,625  
Liability related to sale of future royalties   256,493       276,528  
Long-term taxes payable   3,619       —  
Operating lease liability, net of current portion   10,934       12,032  
Stockholders’ equity:          
Preferred stock, $0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at June 30, 2026 and December 31, 2025, respectively   —       —  
Common stock, $0.001 par value, 500,000 shares authorized, 29,728 shares and 28,019 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively   30       28  
Additional paid in capital   652,269       809,765  
Accumulated other comprehensive loss   (151 )     (24 )
Accumulated deficit   (641,563 )     (772,559 )
Total stockholders’ equity   10,585       37,210  
Total liabilities and stockholders’ equity $ 316,984     $ 364,395  
               

AnaptysBio, Inc.

Consolidated Statements of Operations and Comprehensive Loss

(in thousands, except per share data)
           
  Three Months Ended

June 30, 		    Six Months Ended

June 30, 		 
  2026

(unaudited) 		    2025

(unaudited) 		    2026     2025

(unaudited) 		 
Collaboration revenue $ 27,488     $ 22,263     $ 53,044     $ 50,034  
Operating expenses:                      
Research and development   (2,704 )     (1,448 )     (2,668 )     (1,733 )
General and administrative   16,044       3,984       23,390       8,298  
Total operating expenses   13,340       2,536       20,722       6,565  
Income from operations   14,148       19,727       32,322       43,469  
Other income (expense), net:                      
Interest income   1,486       2,102       3,252       5,402  
Sublease income   526       —       526       —  
Non-cash interest expense for the sale of future royalties   (20,333 )     (19,606 )     (41,192 )     (37,667 )
Other (expense) income, net   (1 )     3,544       (1 )     5,453  
Total other expense, net   (18,322 )     (13,960 )     (37,415 )     (26,812 )
(Loss) income before income taxes   (4,174 )     5,767       (5,093 )     16,657  
Benefit (provision) for income taxes   181,491       (39 )     181,451       (83 )
Income from continuing operations   177,317       5,728       176,358       16,574  
Income (loss) from discontinued operations, net of tax   6,563       (44,358 )     (45,362 )     (94,533 )
Net income (loss)   183,880       (38,630 )     130,996       (77,959 )
Other comprehensive (loss) income:                      
Unrealized loss on available for sale securities   (5 )     (167 )     (127 )     (311 )
Comprehensive income (loss) $ 183,875     $ (38,797 )   $ 130,869     $ (78,270 )
Net income (loss) per common share:                      
Income from continuing operations – basic $ 6.06     $ 0.20     $ 6.09     $ 0.56  
Income (loss) from discontinued operations – basic $ 0.22     $ (1.54 )   $ (1.57 )   $ (3.18 )
Net income (loss) per common share – basic $ 6.28     $ (1.34 )   $ 4.52     $ (2.62 )
Income from continuing operations – diluted $ 4.93     $ 0.19     $ 4.71     $ 0.54  
Income (loss) from discontinued operations – diluted $ 0.18     $ (1.49 )   $ (1.21 )   $ (3.08 )
Net income (loss) per common share – diluted $ 5.11     $ (1.30 )   $ 3.50     $ (2.54 )
Weighted-average number of shares outstanding:                      
Basic   29,264       28,810       28,979       29,722  
Diluted   35,975       29,806       37,476       30,692  
                               



Posted on

PACS Group Announces Chief Legal Officer Transition

PACS Group Announces Chief Legal Officer Transition

John Mitchell retires and continues in consultant role; Patrick J. Murphy appointed Chief Legal Officer effective September 21, 2026

SALT LAKE CITY–(BUSINESS WIRE)–
PACS Group, Inc. (“PACS” or the “Company”) announced today that John Mitchell has retired, effective Sept. 18, 2026, from his position as Chief Legal Officer and Corporate Secretary. Following his retirement, Mitchell will serve as a consultant to PACS to support an orderly leadership transition.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260921864828/en/

Patrick J. Murphy, PACS Group's newly appointed Chief Legal Officer

Patrick J. Murphy, PACS Group’s newly appointed Chief Legal Officer

The Company has selected Patrick J. Murphy to succeed Mitchell as Chief Legal Officer and Corporate Secretary, effective September 21, 2026. Murphy will oversee PACS’s legal function and provide counsel in support of their operations and strategic priorities.

“John has been far more than our Chief Legal Officer; he’s been a trusted advisor, valued colleague, and steady leader through an important period in PACS’s history,” said Jason Murray, PACS’s Chairman and CEO. “His judgment, integrity, and thoughtful counsel have helped us navigate growth and change while remaining focused on our mission. We are grateful that John will continue to support PACS as a consultant, and we wish him the very best in retirement.”

Mitchell joined PACS in 2017, managing the legal department and supporting organizational growth and their IPO. Before joining the Company, he held various positions in healthcare and health services, international law, corporate law, finance, and mergers and acquisitions.

“It’s been a privilege to work alongside so many talented people and to support PACS during a remarkable period of growth,” said Mitchell. “I’m proud of what our legal team has accomplished and grateful for the relationships I’ve built throughout the organization. I look forward to supporting Pat and the Company during this transition.”

Murphy brings more than two decades of senior in-house and public-sector legal experience to PACS. He joins PACS from the global law firm of King & Spalding where he was a Partner in their Special Matters Practice Group. Previously, he spent 20 years in General Electric’s legal department, including five years in its Corporate Litigation group and nearly 15 years as Global Chief Litigation Counsel for GE Healthcare. He also served as a Senior Vice President Legal and Global Chief Litigation Counsel for Fresenius Medical Care and has advised companies, boards and senior executives on complex litigation, corporate investigations, government enforcement and compliance matters.

Murphy’s public-service experience includes serving as Chief Counsel to the Crime and Technology Unit of the U.S. Senate Judiciary Committee Majority Staff and as Assistant General Counsel to the FBI. He began his legal career as a Judge Advocate in the U.S. Marine Corps, attaining the rank of Major, and later was recalled to active duty in the wake of 9/11 to the Pentagon and Guantanamo Bay to serve as a liaison between the Secretary of Defense’s Office and the Solicitor General’s Office on all terrorism-related litigation.

“Pat brings an exceptional combination of healthcare, corporate, regulatory, and public-sector legal experience,” Murray said. “His ability to address complex legal matters while serving as a strategic partner to organizational leaders makes him well suited to guide our legal function. I’m excited to welcome him to PACS and we’re confident he’ll build upon the strong foundation John and our legal team have established.”

“I’m honored to join PACS and support an organization committed to empowering local leaders and delivering high-quality post-acute care,” Murphy said. “I look forward to working with Jason, the leadership team, the Board, and colleagues across PACS as they continue to grow and advance their mission.”

About PACS™ Group, Inc. — PACS Group, Inc. (NYSE: PACS) is a holding company investing in post-acute healthcare facilities, professionals, and ancillary services. Founded in 2013 and headquartered in Salt Lake City, Utah, PACS is one of the largest post-acute platforms in the United States. Its independent subsidiaries operate 355 post-acute care facilities across 20 states serving more than 33,400 patients daily. PACS business support division, PACS Services, provides technology and administrative support services — accounting, finance, human resources, compliance, payroll, AR/AP, legal, risk management, information technology, corporate communication, and other business advice and support — to their healthcare facilities, reducing administrative burdens so their leadership and care teams can focus on the care, well-being, and quality of life of their patients and residents. PACS has been recognized by Utah Business magazine as one of Utah’s Best Companies to work for, back-to-back, in 2022 and 2023. They’ve also been recognized as one of Utah’s Fastest Growing Companies; they ranked #25 in 2022, and #9 in 2023. For more information, visit www.pacs.com or ir.pacs.com.

About Patrick J. Murphy — Patrick J. Murphy joined PACS in September 2026, bringing more than 20 years of senior legal leadership experience spanning healthcare, public companies, government and private practice. Pat will oversee PACS’s legal functions and advise the company on operational, regulatory and strategic matters. Prior to joining PACS, he was a Partner in King & Spalding’s Special Matters Practice Group. Before that, he spent two decades with General Electric, including nearly 15 years as Global Chief Litigation Counsel for GE Healthcare, and later served as Senior Vice President Legal and Global Chief Litigation Counsel for Fresenius Medical Care. Throughout his career, he has advised organizations, boards and executives on complex litigation, government investigations, enforcement actions and compliance matters. His public-service experience includes serving as Chief Counsel to the Crime and Technology Unit of the U.S. Senate Judiciary Committee Majority Staff and as Assistant General Counsel to the FBI. Murphy began his career as a U.S. Marine Corps Judge Advocate, attaining the rank of Major. Outside of work, Pat’s an avid football and rugby fan, and enjoys training for triathlons.

Cautionary Note Regarding Forward-Looking Statements — This press release contains forward-looking statements within the meaning of federal securities laws. All statements contained in this Current Report that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding the appointment and expected contributions of Mr. Murphy as Chief Legal Officer, and the Company’s expected future growth and impact on healthcare facilities. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those implied by the forward-looking statements, including the important factors are described under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, and in other filings that we make with the Securities and Exchange Commission (the “SEC”) from time to time. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. PACS Group, Inc. undertakes no obligation to publicly update or revise any forward-looking statements. See the company’s reports filed publicly with the SEC at www.sec.gov for more information about the company and its related risks and uncertainties.

Media

Brooks Stevenson, VP Corporate Communication

90 S. 400 W. Suite 700 | Salt Lake City, UT 84101

T: 385-988-3596 | [email protected]

https://www.pacs.com | https://ir.pacs.com

KEYWORDS: United States North America Utah

INDUSTRY KEYWORDS: Legal Human Resources Finance Public Relations/Investor Relations Accounting Communications Professional Services Managed Care Health

MEDIA:

Photo
Photo
Patrick J. Murphy, PACS Group’s newly appointed Chief Legal Officer
Logo
Logo
Posted on

Eagle Point Income Company Announces Redemption of 5.00% Series A Term Preferred Shares Due 2026

Eagle Point Income Company Announces Redemption of 5.00% Series A Term Preferred Shares Due 2026

GREENWICH, Conn.–(BUSINESS WIRE)–
Eagle Point Income Company (the “Company”) (NYSE: EIC, EICA) today announced the redemption of all outstanding shares of its 5.00% Series A Term Preferred Shares due 2026 (NYSE: EICA) (“Series A Term Preferred Shares”) on October 30, 2026 (the “Redemption Date”), in accordance with the terms of the Series A Term Preferred Shares. The redemption price of the Series A Term Preferred Shares will be $25 per share.

The Series A Term Preferred Shares are held in book-entry form through The Depository Trust Company (“DTC”) and will be redeemed in accordance with the procedures of DTC. The redemption price will be paid by the Company to DTC through its redemption and paying agent Equiniti Trust Company, LLC (the “Redemption and Paying Agent”). From and after the Redemption Date, the Series A Term Preferred Shares will no longer be deemed outstanding, dividends will cease to accumulate and all the rights of the holders of such shares will cease, except the right to receive the applicable redemption price. The previously declared dividend payable on October 30, 2026, to holders of record of Series A Term Preferred Shares as of October 13, 2026, will be paid in cash on the payment date and not as part of the Series A Term Preferred Shares redemption price.

The Redemption and Paying Agent can be reached by mail at Equiniti Trust Company, LLC, 48 Wall Street, 22nd Floor, New York, NY 10005 (Attn: Corporate Actions), or by email at [email protected].

ABOUT EAGLE POINT INCOME COMPANY

The Company is a diversified, closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation. The Company seeks to achieve its investment objectives by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 35% of its total assets in CLO equity securities. The Company may also invest in other securities and instruments that are consistent with its investment objectives. The Company is externally managed and advised by Eagle Point Income Management LLC.

In addition to the Company’s regulatory requirement to file certain portfolio information with the SEC, the Company makes certain additional financial information available to investors via its website (www.EaglePointIncome.com), press releases and other public disclosures.

FORWARD-LOOKING STATEMENTS

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the prospectus and the Company’s other filings with the SEC. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Investor and Media Relations:

Prosek Partners

(203) 340-8510

[email protected]

www.EaglePointIncome.com

KEYWORDS: United States North America Connecticut

INDUSTRY KEYWORDS: Asset Management Professional Services Finance

MEDIA:

Logo
Logo
Posted on

Nuveen Municipal Credit Opportunities Fund Declares Distribution

Nuveen Municipal Credit Opportunities Fund Declares Distribution

CHICAGO–(BUSINESS WIRE)–
The Nuveen Municipal Credit Opportunities Fund (NYSE: NMCO) has declared its regular monthly distribution with a record date of October 1, 2026, payable November 2, 2026. As previously announced, the Board of Trustees (the “Board”) has approved the terms of the issuance of transferable rights (“Rights”) to the holders of the Fund’s common shares (par value $.01 per share) (“Common Shares”) as of September 8, 2026 (the “Record Date”). The Rights offering will expire at 5:00 p.m., Eastern time, on October 7, 2026 (the “Expiration Date”). Any Common Shares issued as a result of the Rights offering will not be record date Common Shares for the Fund’s monthly distribution to be paid on November 2, 2026 and will not be entitled to receive such distribution.

To ensure that our shareholders have access to the latest information, timely distribution and fund updates can be subscribed to at www.nuveen.com/subscriptions, under the closed-end funds tab of the Product Documents section. You can also follow updates by navigating to the Closed-End Fund section of our Resource Center, located at www.nuveen.com/resource-center.

Distributions

The fund listed in the table below has adopted a policy to make regular monthly cash distributions to holders of its common shares (stated in terms of a fixed cents per common share dividend distribution rate which may be set from time to time). The Fund intends to distribute all or substantially all of its net investment income each year through its regular monthly distribution and to distribute realized capital gains at least annually. In addition, in any monthly period, to maintain its declared per common share distribution amount, the Fund may distribute more or less than its net investment income during the period. In the event a Fund distributes more than its net investment income during any yearly period, such distributions may also include realized gains and/or a return of capital. To the extent that a distribution includes a return of capital the NAV per share may erode. If a distribution includes anything other than net investment income, the fund provides a notice of the best estimate of its distribution sources at the time of the distribution which may be viewed at www.nuveen.com/CEFdistributions. These estimates may not match the final tax characterization (for the full year’s distributions) contained in shareholders’ 1099-DIV forms after the end of the year.

You should not draw any conclusions about the Fund’s investment performance from the amount of the distribution. A distribution including return of capital does not necessarily reflect a Fund’s investment performance and should not be confused with “yield” or “income.”

The following dates apply to today’s distribution declaration for the Nuveen Municipal Credit Opportunities Fund:

Record Date

October 1, 2026

Ex-Dividend Date

October 1, 2026

Payable Date

November 2, 2026

 

Monthly Distribution Per

Share

Ticker

Exchange

Fund Name

Amount

Change from

Previous Month

NMCO1

NYSE

Nuveen Municipal Credit Opportunities Fund

$0.0685

–

1 It is estimated that the fund has distributed more than its net investment income therefore a portion of the fund’sdistribution may be from a return of capital. For more information please see the fund’s 19(a) notice which may be viewed at www.nuveen.com/CEFdistributions.

Nuveen is a leading sponsor of closed-end funds (CEFs) with $54 billion in assets under management across 37 CEFs as of 30 June 2026. The funds offer exposure to a broad range of asset classes and are designed for income-focused investors seeking regular distributions. Nuveen has more than 35 years of experience managing CEFs.

About Nuveen

Nuveen is a global investment leader, managing $1.4T in public and private assets for clients around the world, as of June 30, 2026. With broad expertise across income and alternatives, we invest in the growth of businesses, real estate, infrastructure, and natural capital, providing clients with the reliability, access, and foresight unique to our 125+ year heritage. Our prevailing perspective on the future drives our ambition to innovate and adapt our business to the changing needs of investors — all to pursue lasting performance for our clients, our communities, and our global economy. For more information, please visit www.nuveen.com. Nuveen Securities, LLC, member FINRA and SIPC.

The information contained on the Nuveen website is not a part of this press release.

Certain statements made in this release are forward-looking statements. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors. These include, but are not limited to:

  • market developments;

  • legal and regulatory developments; and

  • other additional risks and uncertainties.

You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Nuveen and the closed-end funds managed by Nuveen and its affiliates undertake no responsibility to update publicly or revise any forward-looking statements.

Important information on risk

Past performance is no guarantee of future results. All investments carry a certain degree of risk, including the possible loss of principal, and there is no assurance that an investment will provide positive performance over any period of time. Certain products and services may not be available to all entities or persons. There is no guarantee that investment objectives will be achieved.

Closed-end funds frequently trade at a discount from net asset value (NAV). At any point in time, including when sold, shares may be worth more or less than the purchase price or the net asset value, even after considering the reinvestment of fund distributions. It is important to consider the objectives, risks, charges and expenses of any fund before investing.

00046728

For more information, please visit Nuveen’s CEF homepage www.nuveen.com/closed-end-funds or contact:

Financial Professionals:

800-752-8700

Investors:

800-257-8787

Media:

[email protected]

KEYWORDS: United States North America Illinois New York

INDUSTRY KEYWORDS: Banking Asset Management Professional Services Finance

MEDIA:

Posted on

Industrial Logistics Properties Trust Appoints Anthony Paula as Chief Financial Officer and Treasurer

Industrial Logistics Properties Trust Appoints Anthony Paula as Chief Financial Officer and Treasurer

NEWTON, Mass.–(BUSINESS WIRE)–Industrial Logistics Properties Trust (Nasdaq: ILPT) today announced that Anthony Paula has been appointed as Chief Financial Officer and Treasurer, effective October 1, 2026.

Mr. Paula is a Vice President of The RMR Group (Nasdaq: RMR) where he is responsible for certain accounting, SEC reporting and corporate finance functions. Mr. Paula has more than 15 years of commercial real estate experience, including accounting and corporate finance, capital markets transactions, SEC reporting and compliance, and has been with RMR since 2011. Mr. Paula has also served as Vice President of Diversified Healthcare Trust (Nasdaq: DHC) since December 2024, and he will resign from that position in connection with his appointment as Chief Financial Officer of ILPT. Mr. Paula is a certified public accountant and earned a master’s degree in accounting from the University of Massachusetts Amherst.

Mr. Paula succeeds Tiffany Sy, who resigned from her position with ILPT, effective September 30, 2026. Ms. Sy’s resignation was not the result of any dispute with ILPT or RMR.

About Industrial Logistics Properties Trust

ILPT is a real estate investment trust, or REIT, focused on owning and leasing high quality industrial and logistics properties. As of June 30, 2026, ILPT’s portfolio consisted of 409 properties containing approximately 59.6 million rentable square feet located in 39 states. Approximately 79% of ILPT’s annualized rental revenues as of June 30, 2026 are derived from investment grade tenants, tenants that are subsidiaries of investment grade rated entities or Hawaii land leases. ILPT is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with over $37 billion in assets under management as of June 30, 2026 and 40 years of institutional experience in buying, selling, financing and operating commercial real estate. ILPT is headquartered in Newton, MA. For more information, visit www.ilptreit.com.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.

No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

Kevin Barry, Senior Director, Investor Relations

(617) 219-1410

KEYWORDS: Massachusetts United States North America

INDUSTRY KEYWORDS: REIT Professional Services Commercial Building & Real Estate Asset Management Construction & Property

MEDIA:

Logo
Logo
Posted on

Kimberly A. Boynton Named to NBT Board of Directors

NORWICH, N.Y., Sept. 21, 2026 (GLOBE NEWSWIRE) — NBT Bancorp Inc. (“NBT” or the “Company”) (NASDAQ: NBTB) announced today that Kimberly A. Boynton will join the Boards of Directors of NBT Bancorp Inc. and NBT Bank, N.A. on October 1, 2026. Boynton is the former President and Chief Executive Officer of Crouse Health and is currently a licensed real estate salesperson with Cushman & Wakefield | Pyramid Brokerage Company, where she specializes in office and industrial real estate throughout the Syracuse market.

“We are pleased to welcome Kimberly to the NBT Board of Directors,” said NBT Board Chair Martin A. Dietrich. “Kimberly’s career spans executive leadership in healthcare, financial management, board governance and commercial real estate. That breadth of experience, combined with her deep understanding of the Central New York business community and regional economy, will bring valuable perspective to our Board and the work we do on behalf of our shareholders, customers and communities.”

Boynton spent nearly 25 years with Crouse Health, serving as President and Chief Executive Officer from January 2014 until March 2023 and as Vice President of the Crouse Health Foundation. Prior to her appointment as Chief Executive Officer, she served as Chief Financial Officer, helping to lead the organization’s financial strategy and operational management. Throughout her tenure at Crouse Health, Boynton led strategic growth initiatives, physician practice acquisitions and major capital projects while overseeing a broad range of operational functions across the organization.

Prior to joining Crouse Health, Boynton worked in public accounting with Coopers & Lybrand, where she developed expertise in financial reporting, auditing and client advisory services.

Boynton has extensive experience serving on boards. She is currently Vice Chairperson of the Board of Trustees of SRC, Inc. and serves on the boards of AAA Western and Central New York, Byrne Dairy, Inc. and NYSTEC. She has been actively involved in numerous civic and nonprofit organizations throughout Central New York. Boynton earned a Bachelor of Business Administration in Accounting from Niagara University and an MBA from Syracuse University’s Martin J. Whitman School of Management.

About NBT Bancorp Inc. and NBT Bank, N.A.

NBT Bancorp Inc. is a financial holding company headquartered in Norwich, NY, with total assets of $16.21 billion at June 30, 2026. The Company primarily operates through NBT Bank, N.A., a full-service community bank, and through two financial services companies. NBT Bank, N.A. has 174 banking locations in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine and Connecticut. EPIC Retirement Plan Services, based in Rochester, NY, is a national benefits administration firm. NBT Insurance Agency, LLC, based in Norwich, NY, is a full-service regional insurance agency. More information about NBT and its divisions is available online at: www.nbtbancorp.com, www.nbtbank.com, www.epicrps.com and www.nbtbank.com/insurance.

CONTACT:

Florence Doller
SVP & Director of Corporate Communications
607.337.6118 | [email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/08c02048-af8b-4377-9e58-8b30c212b2b7

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



Posted on

American Savings Bank Announces Closing of Upsized Initial Public Offering and Full Over-Allotment Option Exercise

American Savings Bank Announces Closing of Upsized Initial Public Offering and Full Over-Allotment Option Exercise

HONOLULU–(BUSINESS WIRE)–American Savings Bank, N.A. (NYSE: ASBH) (“ASB”) announced today the closing of its upsized initial public offering of 8,057,240 shares of its common stock sold by certain of its existing stockholders (the “Selling Stockholders”) on September 17, 2026, and the closing today of the subsequent exercise by the underwriters of their over-allotment option in full to purchase up to an additional 1,208,586 shares, at a price to the public of $16.00 per share. ASB did not receive any proceeds from the sale of the shares by the Selling Stockholders.

ASB’s common stock is listed on the New York Stock Exchange under the symbol “ASBH.”

Piper Sandler & Co. acted as the sole book-running manager for the offering. Keefe, Bruyette & Woods, A Stifel Company, acted as lead manager, while D.A. Davidson & Co. and Stephens Inc. acted as co-managers.

The Registration Statement on Form S-1 relating to the offering was filed with the OCC and declared effective on September 15, 2026. The offering was made only by means of a prospectus. Copies of the Registration Statement and the final prospectus included therein relating to the offering may be obtained for free by visiting the Office of the Comptroller of the Currency’s (the “OCC”) reading room at https://occ.secureocp.com/App/ReadingRoom.aspx. Alternatively, copies of the Registration Statement and the accompanying exhibits and schedules may be inspected without charge at the public reference facilities maintained by the OCC at 400 7th Street, SW, Washington, D.C., 20219. Copies of the final prospectus relating to the offering may also be obtained from Piper Sandler & Co., Prospectus Department, phone: (800) 747-3924, email: [email protected].

This press release does 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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended and incorporated within the OCC’s regulations at 12 C.F.R. Part 16.

About American Savings Bank

ASB is a Hawaii-based, full-service community bank serving Hawaii’s consumers, businesses and communities since 1925. ASB has been making dreams possible for Hawaii’s residents by offering products and services that encourage financial wellness, empower families to become homeowners and help businesses thrive. ASB operates a network of 35 branches and over 120 ATMs in the State of Hawaii. With one of the state’s highest rated mobile apps for banking, ASB is available anytime, anywhere, making banking easier for our customers. ASB pairs its customer experience with an award-winning employee experience that has received local and national recognition, including being named a Best Place to Work in Hawaii for 16 years.

Investor Contact
Jordan Hino
[email protected]

KEYWORDS: United States North America Hawaii

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

Logo
Logo
Posted on

First Trust Mortgage Income Fund Declares its Monthly Common Share Distribution of $0.065 Per Share for October

First Trust Mortgage Income Fund Declares its Monthly Common Share Distribution of $0.065 Per Share for October

WHEATON, Ill.–(BUSINESS WIRE)–
First Trust Mortgage Income Fund (the “Fund”) (NYSE: FMY) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.065 per share payable on October 15, 2026, to shareholders of record as of October 1, 2026. The ex-dividend date is expected to be October 1, 2026. The monthly distribution information for the Fund appears below.

First Trust Mortgage Income Fund (FMY):

      

Distribution per share:

      

$0.065

Distribution Rate based on the September 18, 2026 NAV of $12.22:

      

6.38%

Distribution Rate based on the September 18, 2026 closing market price of $11.40:

      

6.84%

A portion of this distribution may come from net investment income, net short-term realized capital gains or return of capital. The final determination of the source and tax status of all distributions paid in 2026 will be made after the end of 2026 and will be provided on Form 1099-DIV.

The Fund is a diversified, closed-end management investment company that seeks to provide a high level of current income. As a secondary objective, the Fund seeks to preserve capital. The Fund pursues these investment objectives by investing primarily in mortgage-backed securities representing part ownership in a pool of either residential or commercial mortgage loans that, in the opinion of the Fund’s portfolio managers, offer an attractive combination of credit quality, yield and maturity.

First Trust Advisors L.P. (“FTA”) is a federally registered investment advisor and serves as the Fund’s investment advisor. FTA and its affiliate First Trust Portfolios L.P. (“FTP”), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately $378 billion as of August 31, 2026 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts. FTA is the supervisor of the First Trust unit investment trusts, while FTP is the sponsor. FTP is also a distributor of mutual fund shares and exchange-traded fund creation units. FTA and FTP are based in Wheaton, Illinois.

Principal Risk Factors: Risks are inherent in all investing. Certain risks applicable to the Fund are identified below, which includes the risk that you could lose some or all of your investment in the Fund. The principal risks of investing in the Fund are spelled out in the Fund’s annual shareholder reports. The order of the below risk factors does not indicate the significance of any particular risk factor. The Fund also files reports, proxy statements and other information that is available for review.

Past performance is no assurance of future results. Investment return and market value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost. There can be no assurance that the Fund’s investment objectives will be achieved. The Fund may not be appropriate for all investors.

Market risk is the risk that a particular investment, or shares of a fund in general may fall in value. Investments held by the Fund are subject to market fluctuations caused by real or perceived adverse economic conditions, political events, regulatory factors or market developments, changes in interest rates and perceived trends in securities prices. Shares of a fund could decline in value or underperform other investments as a result. In addition, local, regional or global events such as war, acts of terrorism, market manipulation, government defaults, government shutdowns, regulatory actions, political changes, diplomatic developments, the imposition of sanctions and other similar measures, spread of infectious disease or other public health issues, recessions, natural disasters or other events could have significant negative impact on a fund and its investments.

Current market conditions risk is the risk that a particular investment, or shares of the fund in general, may fall in value due to current market conditions. For example, changes in governmental fiscal and regulatory policies, disruptions to banking and real estate markets, actual and threatened international armed conflicts and hostilities, and public health crises, among other significant events, could have a material impact on the value of the fund’s investments.

The debt securities in which the Fund invests are subject to certain risks, including issuer risk, reinvestment risk, prepayment risk, credit risk, interest rate risk and liquidity risk. Issuer risk is the risk that the value of fixed-income securities may decline for a number of reasons which directly relate to the issuer. Reinvestment risk is the risk that income from the Fund’s portfolio will decline if the Fund invests the proceeds from matured, traded or called bonds at market interest rates that are below the Fund portfolio’s current earnings rate. Prepayment risk is the risk that, upon a prepayment, the actual outstanding debt on which the Fund derives interest income will be reduced. Credit risk is the risk that an issuer of a security will be unable or unwilling to make dividend, interest and/or principal payments when due and that the value of a security may decline as a result. Interest rate risk is the risk that fixed-income securities will decline in value because of changes in market interest rates. Liquidity risk is the risk that illiquid and restricted securities may be difficult to value and to dispose of at a fair price at the times when the Fund believes it is desirable to do so.

A mortgage-backed security may be negatively affected by the quality of the mortgages underlying such security and the structure of its issuer. For example, if a mortgage underlying a particular mortgage-backed security defaults, the value of that security may decrease. Moreover, a downturn in the markets for residential or commercial real estate or a general economic downturn could negatively affect both the price and liquidity of privately issued mortgage-backed securities. A portion of the Fund’s managed assets may be invested in subordinated classes of mortgage-backed securities. Such subordinated classes are subject to a greater degree of non-payment risk than are senior classes of the same issuer or agency.

Investments in asset-backed or mortgage-backed securities offered by non-governmental issuers, such as commercial banks, savings and loans, private mortgage insurance companies, mortgage bankers and other secondary market issuers are subject to additional risks.

The primary risks associated with the use of futures contracts are (a) the imperfect correlation between the change in market value of the instruments or indices underlying the futures contracts and the price of the futures contracts; (b) possible lack of a liquid secondary market for a futures contract and the resulting inability to close a futures contract when desired; (c) losses caused by unanticipated market movements, which are potentially unlimited; (d) the investment adviser’s inability to predict correctly the direction of securities prices, interest rates, currency exchange rates and other economic factors; and (e) the possibility that the counterparty will default in the performance of its obligations.

If a security sold short increases in price, the Fund may have to cover its short position at a higher price than the short sale price, resulting in a loss.

Repurchase agreements are subject to the risk of failure. If the Fund’s counterparty defaults on its obligations and the Fund is delayed or prevented from recovering the collateral, or if the value of the collateral is insufficient, the Fund may realize a loss.

Use of leverage can result in additional risk and cost, and can magnify the effect of any losses.

The risks of investing in the Fund are spelled out in the shareholder reports and other regulatory filings.

The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.

The Fund’s daily closing New York Stock Exchange price and net asset value per share as well as other information can be found at https://www.ftportfolios.com or by calling 1-800-988-5891.

Press Inquiries: Ryan Issakainen, 630-765-8689

Analyst Inquiries: Jeff Margolin, 630-915-6784

Broker Inquiries: Sales Team, 866-848-9727

KEYWORDS: United States North America Illinois

INDUSTRY KEYWORDS: Asset Management Professional Services Finance

MEDIA:

Logo
Logo