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Everbright Digital Holding Limited Announces Pricing of $8.07 Million Public Offering

Hong Kong, July 26, 2026 (GLOBE NEWSWIRE) — Everbright Digital Holding Limited (NASDAQ: EDHL) (“Company” or “Everbright”), an integrated marketing solutions provider headquartered in Hong Kong, today announced the pricing of its public offering (“Offering”) for the purchase and sale of 4,293,000 of the Company’s ordinary shares, par value US$0.00064 per share (the “Ordinary Shares”). Each Ordinary Share will be sold at an offering price of $1.88 per share. The gross proceeds to the Company from the Offering are expected to be approximately $8.07 million, before deducting placement agent fees and other Offering expenses payable by the Company

WestPark Capital, Inc. is the sole placement agent for the Offering. The Offering is expected to close on or about July 28, 2026, subject to customary closing conditions.

The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes.

Ortoli Rosenstadt LLP is acting as counsel to the Company, and Sheppard, Mullin, Richter & Hampton LLP is acting as counsel to the placement agent, in connection with the Offering.

The Ordinary Shares are being offered pursuant to a registration statement on Form F-1, as amended (File No. 333-297089) (the “Registration Statement”), which was initially filed with the U.S. Securities and Exchange Commission (the “SEC”) on May 14, 2026, and declared effective by the SEC on July 23, 2026. The Offering is being made only by means of a prospectus which is a part of the Registration Statement. A preliminary prospectus relating to the Offering has been filed with the SEC. Copies of the final prospectus relating to the Offering, when available, may be obtained from WestPark Capital, Inc., 1800 Century Park East, Suite 220, Los Angeles, California 90067. In addition, a copy of the final prospectus, when available, can also be obtained via the SEC’s website at http://www.sec.gov.

Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, 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.

About Everbright Digital Holding Limited

Everbright Digital Holding Limited is an integrated marketing solutions provider headquartered in Hong Kong. The Company conducts all operations in Hong Kong through its operating subsidiary, Hong Kong United Metaverse Limited. The Company is an integrated marketing solutions provider in Hong Kong that is deeply involved in the metaverse and related technologies, providing one-stop digital marketing services to support businesses through every stage of their development, including metaverse stimulation, virtual reality (VR) and augmented reality (AR) design and creation, creative event planning and management, IP character creation and social media marketing.

For more information, please visit the Company’s website: https://umeta.hk/.

Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are statements other than historical facts. When the Company and its management uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. These forward-looking statements include, without limitation, statements regarding the expected trading of the Company’s shares of common stock on the Nasdaq Capital Market, the closing of the Offering and the intended use of proceeds. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the Company’s registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at 

http://www.sec.gov

. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For investor and media inquiries, please contact:

Everbright Digital Holding Limited

Leung Chun Yip, CEO

Email: [email protected]



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XFLT Proxy Contest: Why the Board Believes the King Street Sub-Adviser Will Be Beneficial for XFLT Shareholders

The Board Unanimously Believes XFLT Shareholders Will Benefit from the King Street Sub-Adviser’s Strong CLO Platform, 30-Year Track Record, Depth of Talent and Expanded Investment Capabilities

Leading Proxy Advisors ISS and Glass Lewis BOTH Agree That the King Street Sub-Advisory Agreement Is the Best Path Forward for XFLT

XFLT Asks Shareholders to Vote on the


WHITE


Proxy Card “FOR” the King Street Sub-Advisory Agreement at Special Meeting on July 30, 2026

More Information About the XFLT Proxy Vote Can Be Found

Here

CHICAGO, July 26, 2026 (GLOBE NEWSWIRE) — XA Investments LLC (“XAI”), manager of XAI Floating Rate & Alternative Income Trust (XFLT) (the “Fund”), outlined the depth of credentials and qualifications of Rockford Tower Asset Management, L.L.C. (the “King Street Sub-Adviser”), a wholly owned subsidiary of King Street Capital Management, L.P. (“King Street”), ahead of the Fund’s upcoming Special Meeting on July 30, 2026, during which XFLT shareholders will vote on the approval of a new investment sub-advisory agreement among the Fund, XAI and the King Street Sub-Adviser (the “King Street Sub-Advisory Agreement”).

Additionally, Institutional Shareholder Services Inc. (“ISS”) and Glass, Lewis & Co. LLC (“Glass Lewis”), leading independent proxy advisory firms, both recommended that XFLT shareholders vote to approve the King Street Sub-Advisory Agreement as the best path forward for the Fund.


Who Is the King Street Sub-Adviser, and Why Is the Board Unanimous in Recommending Shareholders Approve It as Sub-Adviser?

  • King Street is a leading global alternative asset management firm with a 30-year track record, approximately $30 billion in total assets under management and over $13 billion in assets under management across 20 U.S. collateralized loan obligations (“CLOs”) and nine European CLOs.
  • The Board believes the King Street Sub-Adviser is the right choice for the future of XFLT due to the strength of its platform, its ability to manage the Fund dynamically within the Fund’s existing mandate and the opportunity for outperformance.
  • The potential for improved long-term performance is especially stark in comparison to Fund’s recent underperformance under the terminated sub-adviser Octagon Credit Investors.
  • This decision culminated a yearlong diligence process that involved 12 Board meetings, extensive due diligence, and the evaluation of numerous potential sub-advisers against rigorous criteria—the King Street Sub-Adviser was the clear choice.


The Board Has Full Confidence in the King Street Sub-Adviser—What Are the Potential Benefits to XFLT Shareholders?

  • The Board believes that voting “FOR” the approval of the King Street Sub-Advisory Agreement on the WHITE card may provide increased distributions and improved performance over time—with NO new fees.
  • With the King Street Sub-Adviser in place, XFLT may be able to leverage expanded investment opportunities in different parts of the U.S. and European credit markets.
  • King Street benefits from more than 260 employees, including over 90 investment professionals, based in the U.S., London, Singapore and Dubai, with experience investing in the U.S. and global credit markets.
  • The King Street Sub-Adviser will bring rigorous research and credit analysis, tactical trading capabilities and adaptive investment approach to tailor its management to meet XFLT’s investment objective, which remains unchanged.


Who From the King Street Sub-Adviser’s Team Will Actually Manage the Fund?

  • King Street has a seasoned investment team led by 20 partners and managing directors averaging nearly 23 years of experience.
  • If the King Street Sub-Adviser is approved, 20-year King Street veteran Young Choi will be the primary portfolio manager of XFLT.
  • Mr. Choi is a Partner and the Global Head of Trading at King Street and the Portfolio Manager of Rockford Tower Capital Management. He is based in New York and is a member of the Management Committee, Global Investment Committee, U.S. and European CLO Investments Committees, Risk Committee and Pricing Committee.
  • Prior to joining King Street in 2006, Mr. Choi worked at Citadel Investment Group as a Credit Analyst in the Distressed/High Yield Group and was Portfolio Manager of the firm’s $2 billion U.S. leveraged loan and CLO portfolio. Prior to that, Mr. Choi consulted at Bain & Co.
  • Mr. Choi received a B.A. summa cum laude in Economics and a B.S.E. in Electrical Engineering from Duke University.

For additional information on the upcoming proxy, materials can be found on XAI’s website.

How to Vote

The Board urges XFLT shareholders to vote “FOR” the King Street Sub-Adviser on the WHITE Card. Use one of the following options to vote:

  • By Internet: Visit the website listed on your WHITE proxy card, enter your control number and follow the simple on-screen instructions.
  • By Phone: Call the toll-free number listed on your WHITE proxy card.
  • By Mail: Sign and return the enclosed WHITE proxy card in the enclosed postage-paid envelope.

If you have any questions or need assistance voting your shares, please contact our proxy solicitation firm, Okapi Partners LLC, toll-free at (855) 305-0855 or by email at

[email protected]

.  

About XA Investments

XA Investments LLC is a Chicago-based firm founded by XMS Capital Partners in 2016. XAI serves as the investment adviser for two listed closed-end funds and an interval closed-end fund. In addition to investment advisory services, the firm also provides investment fund structuring and consulting services focused on registered closed-end funds to meet institutional client needs. XAI offers custom product build and consulting services, including product development and market research, marketing and fund management. XAI believes that the investing public can benefit from new vehicles to access a broad range of alternative investment strategies and managers. For more information, please visit www.xainvestments.com.

About King Street Capital Management

King Street is a global alternative investment firm founded in 1995 that manages $30 billion in assets across public and private markets. The firm marries rigorous fundamental research with tactical trading and differentiated sourcing capabilities to identify investment opportunities across asset classes, up and down the capital structure. For more information, please visit www.kingstreet.com. Follow King Street Capital Management on LinkedIn.

Forward-Looking Statements

This press release contains certain statements that may include “forward-looking statements.” Forward-looking statements can be identified by the words “may,” “will,” “intend,” “expect,” “estimate,” “continue,” “plan,” “anticipate,” and similar terms and the negatives of such terms. By their nature, all forward-looking statements involve risks and uncertainties, and actual results could differ materially from those contemplated by the forward-looking statements. Many factors that could materially affect the Fund’s actual results are the performance of the portfolio of securities held by the Fund, the conditions in the U.S. and international financial and other markets, the price at which Fund shares trade in the public markets and other factors. Although the Fund believes that the expectations expressed in such forward-looking statements are reasonable, actual results could differ materially from those expressed or implied in such forward-looking statements. The Fund’s future financial condition and results of operations, as well as any forward-looking statements, are subject to change and are subject to inherent risks and uncertainties. You are cautioned not to place undue reliance on these forward-looking statements, which are made as of the date of this press release. Except for the Fund’s ongoing obligations under the federal securities laws, the Fund does not intend, and the Fund undertakes no obligation, to update any forward-looking statement.

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

Past performance is no guarantee of future results. An investment in the Fund involves risk, including the possible loss of principal. Investors should consider the Fund’s investment objectives, risks, charges, and expenses carefully before investing. Please refer to the Fund’s filings with the Securities and Exchange Commission for additional information.

Media Contact: 

XA Investments LLC
Kim Shepherd
Senior Consultant
[email protected]
312-623-5123
www.xainvestments.com

Prosek Partners
[email protected]



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EquipmentShare.com Inc. Sued for Securities Law Violations – Contact the DJS Law Group to Discuss Your Rights – EQPT

EquipmentShare.com Inc. Sued for Securities Law Violations – Contact the DJS Law Group to Discuss Your Rights – EQPT

LOS ANGELES–(BUSINESS WIRE)–The DJS Law Group reminds investors of a class action lawsuit against EquipmentShare.com Inc. (“EquipmentShare” or “the Company”) (NASDAQ: EQPT) violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Shareholders who purchased shares of EQPT during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointments. Appointment as lead plaintiff is not required to partake in any recovery.

CLASS PERIOD: January 23, 2026 to June 23, 2026

DEADLINE: September 21, 2026

CASE DETAILS: According to the Complaint, the Company made false and misleading statements to the market. EquipmentShare engaged in undisclosed related-party transactions that it failed to terminate. Based on these facts, EquipmentShare’s public statements were false and materially misleading throughout the class period.

If you are a shareholder who suffered a loss, contact us to participate.

WHY DJS LAW GROUP? DJS Law Group’s primary focus is to enhance investor return through balanced counseling and aggressive advocacy. We specialize in securities class actions, corporate governance litigation, and domestic/international M&A appraisals. Our clients are some of the largest and most sophisticated hedge funds and alternative asset managers in the world. The litigation claims of our clients are extraordinarily valuable assets that demand respect, focus, and results.

Join the case to recover your losses.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

David J. Schwartz

DJS Law Group

274 White Plains Road, Suite 1

Eastchester, NY 10709

Phone: 914-206-9742

Email: [email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Class Action Lawsuit Professional Services Legal

MEDIA:

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RBLX 13-DAY DEADLINE ALERT: Roblox Corporation (RBLX) Facing Securities Class Action Amid Surprise Age Verification Impact, Investors with Losses Encouraged to Contact the Firm – HBSS

SAN FRANCISCO, July 25, 2026 (GLOBE NEWSWIRE) — National shareholder rights firm Hagens Berman alerts investors in Roblox Corporation (NYSE: RBLX) that the alleged class period in the ongoing securities class action litigation has been expanded. A new lawsuit now covers investors who purchased or otherwise acquired Roblox common stock between October 31, 2024 through April 30, 2026, inclusive.

National shareholder rights firm Hagens Berman is investigating the legal claims that Roblox and its co-defendants violated the federal securities laws. The firm encourages Roblox investors who suffered substantial losses to submit your losses now.

Class Period: Oct. 31, 2024 – Apr. 30, 2026
Lead Plaintiff Deadline: Aug. 7, 2026
Visit:www.hbsslaw.com/investor-fraud/rblx
Contact the Firm Now: [email protected]
844-916-0895
Roblox Corporation (RBLX) Securities Class Action:

The primary focus of the litigation is on the propriety of Roblox’s disclosures about its commitment toward protecting the safety of young users of its platform and the recent the impact on its business and prospects of the age-check verification rollout aimed at increasing safety within certain social features on its platform. The rollout began in November 2025.

During the Class Period, Roblox and its senior management have assured investors that “safety would be paramount[,]” “building safety into our products has been a huge effort[,]” and “[o]ur approach to safety includes multiple proactive measures as well as parental controls[.]” They have also emphasized that “b]ecause our Platform includes children aged 5 and over, our safety and civility policies are purpose-built to be strict.”

Investors slowly learned the truth through a series of disclosures beginning on October 30, 2025. That day, the Company revealed that it would be instituting enhanced age verification technology globally beginning in January 2026. On this news, the price of the Company’s common stock declined 16% from $133.74 per share to $113.00 per share, wiping out $13 billion in market value.

Then, on April 30, 2026, Roblox revealed a steep deceleration in year-over-year and sequential DAU growth, slashed its 2026 revenue guidance (reflecting ongoing shrinkage in DAU growth), and severely cut its 2026 bookings growth midpoint from 24% to just 10%, investors glimpsed what was really going on.

Roblox said just 51% of its global DAUs age checked and also said that “as a result of age check […] we have seen a reduction in app store ratings, and we believe this may be contributing to a reduction in organic sign-ups that typically flow from app stores.” Roblox also said its lowered prospects are the result of “continued friction” resulting from the age-check rollout.

“We’re focused on when Roblox and its management knew of the adverse consequences of the age-check rollout and whether they intentionally misled investors it,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation.

If you invested in Roblox and have substantial losses, or have knowledge that will assist the firm’s investigation, submit your losses now.

If you’d like more information and answers to other frequently asked questions about the Roblox case and the firm’s investigation, read more.

Whistleblowers: Persons with non-public information regarding Roblox should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected] .

About Hagens Berman

Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Attorney Advertising. Prior results do not guarantee a similar outcome in any future case.

Contact:
Reed Kathrein, 844-916-0895



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PICS 10-DAY DEADLINE ALERT: PicS N.V. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit Before August 4, 2026 Deadline – HBSS

SAN FRANCISCO, July 25, 2026 (GLOBE NEWSWIRE) — Hagens Berman alerts investors in PicS N.V. (NASDAQ: PICS) that a securities class action lawsuit has been filed, and the firm is actively investigating alleged misrepresentations and omissions in the company’s initial public offering disclosures regarding PicS’s credit underwriting practices.


CLICK HERE TO SUBMIT YOUR PICS IPO LOSSES TO HBSS

Key PICS Class Action Case Details:

  • Defined Class / Relevant Investment Window: Investors who purchased or otherwise acquired PicS Class A common stock in and/or traceable to the company’s January 30, 2026 initial public offering (IPO)
  • Lead Plaintiff Deadline: Aug. 4, 2026
  • Contact Hagens Berman to discuss your rights:
    [email protected] 
    844-916-0895
    www.hbsslaw.com/investor-fraud/pics

Core Allegations in PicS Securities Class Action

The lawsuit alleges that PicS and certain top executives and underwriters made materially false and misleading statements in its IPO offering documents. Specifically, defendants allegedly failed to disclose that an internal review conducted in December 2025—weeks before the IPO—determined that the company’s historical credit evaluation policies and procedures were deficient and required urgent enhancements. These undisclosed deficiencies masked a severe deterioration in customer credit quality, heightened default risks, and a sharp spike in non-performing loan formations.

Post-IPO Disclosures and Market Reaction

Date Post-IPO Disclosure Stock Price Impact
March 19, 2026 PicS discloses Q4/FY 2025 results revealing pre-IPO credit procedure deficiencies, R$590 million in Stage 3 loan reclassifications, and a nearly doubled default formation rate. -22.5% single-day drop

(Plummeting $3.56 to close at $12.27 per share)
June 2, 2026 Continued revelations of escalating defaults (with Stage 3 loans reaching 13% of the portfolio) drive shares down further. Over 50% total collapse

(Falling to a low of under $9.00 per share compared to the $19.00 IPO price)
     

Hagens Berman’s Investigation

“We’re investigating whether PicS’ IPO documents misled investors by allegedly promoting its rapid credit expansion and proprietary AI-driven underwriting models as competitive advantages while omitting to disclose internal data showing portfolio degradation, as the suit contends,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation of the claims alleged in the pending lawsuit.

What Affected PICS Investors Can Do

If you purchased or acquired PicS Class A common stock in or traceable to the January 30, 2026 IPO and suffered losses, you have until August 4, 2026, to ask the court to appoint you as lead plaintiff.

To learn more about your legal options, or if you have knowledge that will assist the firm’s investigation, submit your information now »

If you’d like more information and answers to other frequently asked questions about the PicS case and the firm’s investigation, read more »

Whistleblowers: Persons with non-public information regarding PicS should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman

Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Attorney Advertising. Prior results do not guarantee a similar outcome in any future case.

Contact:

Reed Kathrein, 844-916-0895



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VRRM 10-DAY DEADLINE ALERT: Verra Mobility Corp. (VRRM) Investors with Substantial Losses Have Opportunity to Lead the Verra Mobility Class Action Lawsuit– HBSS

SAN FRANCISCO, July 25, 2026 (GLOBE NEWSWIRE) — Hagens Berman Sobol Shapiro LLP alerts investors in Verra Mobility Corporation (NASDAQ: VRRM) that a securities fraud class action lawsuit has been filed, and the firm has broadened its ongoing investigation into the company following an abrupt leadership transition. Investors suffering substantial losses are encouraged to contact the firm now.

Key VRRM Class Action Case Details

  • Class Period: Feb. 24, 2026 – May 26, 2026
  • Lead Plaintiff Deadline: Aug. 4, 2026
  • Contact Hagens Berman to discuss your rights, evaluate recovery options, or seek appointment as lead plaintiff:
    [email protected] 
    844-916-0895              
    www.hbsslaw.com/investor-fraud/vrrm

Core Allegations in Verra Mobility Lawsuit

The lawsuit alleges that Verra and certain executives made materially false and misleading statements and concealed critical adverse facts regarding the true state of the company’s relationship with Avis Budget Group. Defendants allegedly downplayed the risk of major rental car customers replacing Verra’s services with in-house or outsourced alternatives and misrepresented the likelihood of securing an Avis contract renewal.

Alleged Corrective Disclosure and Market Reaction

Date Corrective Event Stock Price Impact
May 26 – 27, 2026 Verra discloses the sudden Avis contract termination notice, slashes its 2026 outlook, announces operational restructuring, and initiates an internal review of negotiations -71.0% single-day crash

(Plummeting from $13.08 to close at $3.85 on May 27, wiping out roughly $1.4 billion in market cap)
     

View our latest video summary of the allegations: youtu.be/FVEw5XACoGA

Hagens Berman’s Expanded Investigation

In addition to investigating the lawsuit’s claims that Verra misled investors about the stability of key revenue streams and contract negotiations, Hagens Berman’s expanded investigation also focuses on the sudden June 1, 2026 departure of long-time CEO David Roberts—ending a 12-year tenure—and whether this leadership vacuum is causally linked to the catastrophic loss of the Avis contract and subsequent disclosures.

“Our investigation is focused on the extent to which and when Verra and its executives knew that renegotiations with Avis were far from constructive, as the May 26 surprise reveals,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation.

What Affected VRRM Investors Can Do

If you purchased or acquired Verra Mobility common stock between February 24, 2026, and May 26, 2026, and suffered losses, you have until August 4, 2026, to ask the court to appoint you as lead plaintiff.

To learn more about your legal options, or if you have knowledge that will assist the firm’s investigation, submit your information to Hagens Berman.

If you’d like more information and answers to other frequently asked questions about the Verra case and the firm’s investigation, read more.

Whistleblowers: Persons with non-public information regarding Verra should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman

Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Attorney Advertising. Prior results do not guarantee a similar outcome in any future case.

Contact:

Reed Kathrein, 844-916-0895



Posted on

Primoris Services (PRIM) Faces Securities Class Action After Second Major Selloff on Persistent Ineffective Project Management, COO Departure – HBSS

SAN FRANCISCO, July 25, 2026 (GLOBE NEWSWIRE) — A securities class action lawsuit has been filed against Primoris Services Corporation (NYSE: PRIM) and certain current and former executives who are alleged to have misled investors about the company’s project management capabilities. It seeks to represent investors who purchased or otherwise acquired shares of Primoris common stock between August 5, 2025 and June 22, 2026.

The lawsuit follows a second massive selloff in Primoris shares in six weeks – this time on June 23, 2026, when shares cratered another $23.29 (-21%). The first occurred on May 6, 2026, when Primoris shares crashed $101.69 (-50%). Both were triggered by surprise revelations of Primoris’ project management problems.

The disclosures’ toll was to erase well over $6 billion from Primoris’ market capitalization between May 5, 2026 and June 23, 2026.

National shareholders rights firm Hagens Berman continues its investigation into claims that Primoris and the other Defendants violated the federal securities laws and encourages investors who suffered substantial losses to submit your losses now. The firm also encourages persons with knowledge who may be able to assist the investigation to contact its attorneys.

Class Period: Aug. 5, 2025 – June 22, 2026
Lead Plaintiff Deadline: Sept. 21, 2026
Visit:www.hbsslaw.com/investor-fraud/prim
Contact the Firm Now: [email protected]
844-916-0895

Primoris Services Corporation (PRIM) Securities Class Action:

During the Class Period, defendants repeatedly assured investors that Primoris maintained “disciplined bidding,” “well-developed estimating processes,” effective project controls, and reliable forecasting that enabled it to accurately price and execute fixed-price renewable energy projects, “manage risk,” and reliably forecast revenues, margins, and earnings.

The complaint alleges that, in contrast to these assurances (and unknown to investors), the Defendants did not disclose that Primoris’ estimating, cost-to-complete forecasting, and project oversight processes were woefully deficient. As a result, the company systematically underestimated project costs and risks on multiple significant renewable energy projects.

Investors learned the truth through a series of partial disclosures:

First, in February 2026, Primoris management attributed lower gross margins to “unexpectedly higher costs” at certain renewables projects, citing difficult soil and rock conditions that required additional labor and equipment. While management later downplayed the issue as being isolated to a single project—expressing confidence in their remedial measures—they simultaneously touted the company’s ability to “accelerate project timelines” for 2026.

Second, on May 5, 2026, the market’s confidence in Primoris’ remedial measures was shattered when the company released its Q1 2026 financial results and revealed a staggering decline in the core Energy segment, with year-over-year revenues falling by $152.9 million (13.8%) and gross profits plunging by nearly 40%.

CEO Koti Vadlamudi admitted the next day during the May 6 earnings call that Primoris’ financial results were battered by cost pressures across multiple solar projects. Moving beyond the “rock and soil” reason used just months prior, Vadlamudi cited a litany of execution-related factors as the cause of the margin collapse:

  • Project Redesigns: Costly changes to existing plans.
  • Labor Issues: Inability to manage specific workforce demands.
  • Sequencing Errors: Failures in project management and timing.
  • Weather Disruptions: Further complicating already delayed timelines.

Finally, after the markets closed on June 22, 2026, Primoris shocked investors when it announced that “[a]dditional challenges and cost overruns were identified as a result of continued progress on projects in the Company’s Renewables business.” Importantly, as a result of ongoing problems in six projects and additional challenges, Primoris said its 2026 renewables business revenues would decline 30% ($900 million) from the $3 billion revenues reported for 2025.

“We’re focused on when Primoris’ management learned of the full scope of the company’s renewables problems, including the apparent inadequacy of remediation measures,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation.

If you invested in Primoris and have substantial losses, or have knowledge that will assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to other frequently asked questions about the firm’s Primoris investigation, read more »

Whistleblowers: Persons with non-public information regarding Primoris should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman

Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Attorney Advertising. Prior results do not guarantee a similar outcome in any future case.

Contact:

Reed Kathrein, 844-916-0895



Posted on

XFLT Proxy Vote: What This Shareholder Vote Is Really About

The Choice Is Between Approving King Street as Sub-Adviser or Prolonging Uncertainty

There Is No Option to Reappoint Octagon as Sub-Adviser

The Board Urges XFLT Shareholders Vote on the


WHITE


Card to Approve the King Street Sub-Adviser Ahead of Special Meeting of Shareholders on July 30

th

CHICAGO, July 25, 2026 (GLOBE NEWSWIRE) — XA Investments LLC (“XAI”), manager of XAI Floating Rate & Alternative Income Trust (XFLT) (the “Fund”), clarified the choice put forth before shareholders at the upcoming Special Meeting of Shareholders on July 30, 2026:

  • Vote on the WHITE card “FOR” the approval of the new investment sub-advisory agreement among the Fund, XA Investments LLC and Rockford Tower Asset Management, L.L.C. (the “King Street Sub-Adviser”), a wholly owned subsidiary of King Street Capital Management, L.P. (“King Street”) (the “King Street Sub-Advisory Agreement”), which the Board believes will enhance performance and distributions, with no changes to fees.
  • Vote against the proposal, resulting in limbo as the King Street Sub-Adviser is appointed interim sub-adviser and the Board restarts the process to identify a permanent sub-adviser.

However, the terminated sub-adviser Octagon Credit Investors (“Octagon”) has launched a campaign to confuse shareholders about the nature of this vote. We do not believe shareholders should be misled.

WHAT SHAREHOLDERS ARE ACTUALLY BEING ASKED TO APPROVE

  • There is only one shareholder proposal to be voted on. The XFLT Board is asking shareholders of the Fund to approve the King Street Sub-Advisory Agreement.
  • XFLT’s Board launched a comprehensive process to identify the King Street Sub-Adviser as the ideal sub-adviser for the Fund.
  • King Street is a leading global alternative asset manager that, along with its affiliates, manages $30 billion assets across multiple segments of the public and private markets. King Street’s collateralized loan obligation (CLO) platform includes 20 U.S. CLOs, nine European CLOs and approximately $12 billion in CLO assets under management.
  • The Board has high conviction that King Street has the potential to increase distributions, improve Fund performance over time and manage the Fund more dynamically within its stated mandate.

WHAT SHAREHOLDERS ARE

NOT

BEING ASKED TO APPROVE

The terminated sub-adviser Octagon continues to intentionally spread misleading claims surrounding the elements of the shareholder proposal ahead of the Special Meeting.

To clarify, the following are NOT matters shareholders will be voting on:

  • There are NO management fee increases if the proposal is approved. There are NO changes to management fees if the proposal is not approved.
  • Octagon will not be reinstated as sub-adviser following the Special Meeting on July 30th.
  • A failed vote will not bring Octagon and XAI back to the negotiation table.
  • The Fund’s qualified management team and Board will remain in place regardless of the outcome of the vote.

VOTE “FOR” THE APPROVAL OF THE KING STREET SUB-ADVISOR AGREEMENT ON THE 

WHITE

 PROXY CARD TODAY

The Board urges XFLT shareholders to vote “FOR” the King Street Sub-Adviser on the WHITE Card. Use one of the following options to vote:

  • By Internet: Visit the website listed on your WHITE proxy card, enter your control number and follow the simple on-screen instructions.
  • By Phone: Call the toll-free number listed on your WHITE proxy card.
  • By Mail: Sign and return the enclosed WHITE proxy card in the enclosed postage-paid envelope.

If you have any questions or need assistance voting your shares, please contact our proxy solicitation firm, Okapi Partners LLC, toll-free at (855) 305-0855 or by email at 

[email protected]

.

About XA Investments

XA Investments LLC is a Chicago-based firm founded by XMS Capital Partners in 2016. XAI serves as the investment adviser for two listed closed-end funds and an interval closed-end fund. In addition to investment advisory services, the firm also provides investment fund structuring and consulting services focused on registered closed-end funds to meet institutional client needs. XAI offers custom product build and consulting services, including product development and market research, marketing and fund management. XAI believes that the investing public can benefit from new vehicles to access a broad range of alternative investment strategies and managers. For more information, please visit www.xainvestments.com.

About King Street Capital Management

King Street is a global alternative investment firm founded in 1995 that manages $30 billion in assets across public and private markets. The firm marries rigorous fundamental research with tactical trading and differentiated sourcing capabilities to identify investment opportunities across asset classes, up and down the capital structure. For more information, please visit www.kingstreet.com. Follow King Street Capital Management on LinkedIn.

Forward-Looking Statements

This press release contains certain statements that may include “forward-looking statements.” Forward-looking statements can be identified by the words “may,” “will,” “intend,” “expect,” “estimate,” “continue,” “plan,” “anticipate,” and similar terms and the negatives of such terms. By their nature, all forward-looking statements involve risks and uncertainties, and actual results could differ materially from those contemplated by the forward-looking statements. Many factors that could materially affect the Fund’s actual results are the performance of the portfolio of securities held by the Fund, the conditions in the U.S. and international financial and other markets, the price at which Fund shares trade in the public markets and other factors. Although the Fund believes that the expectations expressed in such forward-looking statements are reasonable, actual results could differ materially from those expressed or implied in such forward-looking statements. The Fund’s future financial condition and results of operations, as well as any forward-looking statements, are subject to change and are subject to inherent risks and uncertainties. You are cautioned not to place undue reliance on these forward-looking statements, which are made as of the date of this press release. Except for the Fund’s ongoing obligations under the federal securities laws, the Trust does not intend, and the Fund undertakes no obligation, to update any forward-looking statement.

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

Past performance is no guarantee of future results. An investment in the Fund involves risk, including the possible loss of principal. Investors should consider the Fund’s investment objectives, risks, charges, and expenses carefully before investing. Please refer to the Fund’s filings with the Securities and Exchange Commission for additional information.

Media Contact: 

XA Investments LLC
Kim Shepherd
Senior Consultant
[email protected]
312-623-5123
www.xainvestments.com

Prosek Partners
[email protected]



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Cogent Communications Holdings, Inc. Sued for Securities Law Violations – Contact the DJS Law Group to Discuss Your Rights – CCOI

Cogent Communications Holdings, Inc. Sued for Securities Law Violations – Contact the DJS Law Group to Discuss Your Rights – CCOI

LOS ANGELES–(BUSINESS WIRE)–The DJS Law Group reminds investors of a class action lawsuit against Cogent Communications Holdings, Inc. (“Cogent” or “the Company”) (NASDAQ: CCOI) violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Shareholders who purchased shares of CCOI during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointments. Appointment as lead plaintiff is not required to partake in any recovery.

CLASS PERIOD: February 29, 2024 to May 1, 2026

DEADLINE: September 21, 2026

CASE DETAILS: According to the Complaint, the Company made false and misleading statements to the market. Cogent’s backlog was filled with orders unlikely to generate revenue. The Company was unlikely to reach revenue and margin targets with these orders. Based on these facts, Cogent’s public statements were false and materially misleading throughout the class period.

If you are a shareholder who suffered a loss, contact us to participate.

WHY DJS LAW GROUP? DJS Law Group’s primary focus is to enhance investor return through balanced counseling and aggressive advocacy. We specialize in securities class actions, corporate governance litigation, and domestic/international M&A appraisals. Our clients are some of the largest and most sophisticated hedge funds and alternative asset managers in the world. The litigation claims of our clients are extraordinarily valuable assets that demand respect, focus, and results.

Join the case to recover your losses.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

David J. Schwartz
DJS Law Group
274 White Plains Road, Suite 1
Eastchester, NY 10709
Phone: 914-206-9742
Email: [email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Class Action Lawsuit Professional Services Legal

MEDIA:

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Kuwait Oil Company Signs US$ 16.0 Billion Infrastructure Partnership Involving Its Crude Oil Pipeline Network With a Consortium Comprising Blackstone, Brookfield and KKR

Kuwait Oil Company Signs US$ 16.0 Billion Infrastructure Partnership Involving Its Crude Oil Pipeline Network With a Consortium Comprising Blackstone, Brookfield and KKR

  • Kuwait Oil Company (“KOC”) is establishing a new joint venture (“JV”) with three leading global investors in a lease and leaseback structure for a 20.5 year period that includes a volume-based tariff

  • Following a competitive selection process, Blackstone, Brookfield and KKR will collectively hold a 49% stake in the JV, with each investor holding an equal one-third share of that interest on equal terms; KOC will retain a 51% stake and full ownership and operational control of the network

  • Kuwait’s largest energy infrastructure partnership to date, and the largest foreign direct investment ever in Kuwait

  • Marks the first time leading global institutional investors have deployed long-term capital into Kuwait’s midstream infrastructure

  • Underscores – amidst ongoing regional geopolitical challenges – international trust in KPC’s ability to deliver on its 2040 Strategy to reach 4 million barrels of crude oil production capacity per day by 2035

  • Supports Kuwait’s economic diversification goals in a partnership with leading international investors, expected to generate US$ 7.85 billion of proceeds to support broader capital expenditure plans

  • Preserves the State of Kuwait’s full flexibility over its production and refining volumes

KUWAIT CITY, Kuwait–(BUSINESS WIRE)–
Kuwait Petroleum Corporation (“KPC”), the state-owned corporation overseeing Kuwait’s oil and gas sector, today announced that its wholly owned subsidiary, Kuwait Oil Company (“KOC”), responsible for the exploration, production and transportation of crude oil on behalf of the State of Kuwait, has signed a US$ 16.0 billion lease-and-lease-back agreement involving its entire domestic and export pipeline network with a consortium of international infrastructure and institutional investors led collectively by Blackstone, Brookfield and KKR.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260724974083/en/

As part of the transaction, a newly formed Kuwaiti-incorporated JV will lease from KOC the usage rights to all of its 13 pipelines, spanning a total of approximately 320 kilometers of Kuwait’s pipeline network. Under the terms of the agreement, the JV will grant back to KOC the exclusive use, operational and maintenance rights in the pipeline assets for a 20.5 year period, in exchange for a volume-based tariff.

KOC and the consortium, comprising Blackstone, Brookfield and KKR, will establish the new joint venture, with KOC holding a 51% majority stake and the consortium collectively holding the remaining 49%, with equal stakes and on equal terms. KOC will continue to maintain full ownership and operational control of the pipeline network. The JV will not impose any restrictions on Kuwait’s refining throughput or production volumes, all of which remain subject to decisions made by the State of Kuwait.

The JV is expected to generate upfront proceeds of US$ 7.85 billion for KOC upon closing, supporting KPC’s capital expenditure plans, including KPC’s target of 4 million barrels per day of crude oil production capacity by 2035, and supporting Kuwait’s broader efforts to diversify sources of capital and deepen engagement with global investors.

The commitment represents the largest foreign direct investment in Kuwait’s history. Its scale reflects the quality of KOC’s asset base, the strength of KPC’s operational stewardship, and the enduring appeal of Kuwait as an investment destination.

The agreement ranks among the first major inward investments in the Arabian Gulf region since the onset of recent tensions, and it bears testament to Kuwait’s resilience and agility, and the sustained confidence of global institutional investors in Kuwait and KPC.

Beyond its immediate proceeds, the JV is intended to serve as a catalyst for deeper participation by global investors in the national economy, in keeping with KPC’s development plan and Kuwait’s long-term diversification agenda.

Shaikh Nawaf Saud Al-Sabah, Deputy Chairman and CEO of KPC, said:

“Project Peregrine represents the largest foreign direct investment in Kuwait’s history and a defining milestone for our country’s economic development. It delivers on the commitment announced by His Highness the Prime Minister Shaikh Ahmad Abdullah Al-Ahmad Al-Sabah at the Kuwait Oil & Gas Show (KOGS) in February 2026 to attract world-class international investors into Kuwait’s strategic infrastructure while preserving full national ownership and operational control.

We are pleased to welcome Blackstone, Brookfield and KKR as long-term partners in this landmark transaction. Their investment reflects confidence in Kuwait’s resilience, the quality of KPC’s assets and our long-term vision for the country’s energy sector.

This transaction sends a powerful signal that Kuwait continues to rise as an attractive destination for global capital, even amid a challenging regional environment.”

Joe Bae and Scott Nuttall, Co-CEOs of KKR, said:

“Kuwait has established itself as one of the world’s leading energy producers through decades of disciplined investment and prudent stewardship. We have greatly valued our partnership with Shaikh Nawaf and his team. This investment reflects our confidence in Kuwait and our commitment to providing long-term capital in support of strategic infrastructure, and we look forward to deepening our partnership and identifying further opportunities to invest alongside Kuwait in the years ahead.”

Bruce Flatt, CEO of Brookfield Corporation, said:

“Kuwait is a long-standing and highly valued partner of Brookfield’s, and we have long admired the way it has built a globally leading energy industry. We are proud to support Kuwait as it continues to build out its vital energy infrastructure, and honored to invest alongside our partners for the long term.”

Stephen Schwarzman, Chairman, CEO and Co-founder of Blackstone, said:

“Kuwait’s leadership, vision and resources have made it a compelling destination for international capital, built on its strength in the energy sector and remarkable efforts to diversify its economy. We are proud to support this critical infrastructure, helping meet rising global energy demand while deepening Blackstone’s nearly four-decade partnership with Kuwait.”

Additional transaction details

The transaction will be governed by Kuwaiti law and is subject to customary closing conditions and regulatory approvals.

Centerview Partners, HSBC and J.P. Morgan acted as financial advisors to KPC.

About KPC

Kuwait Petroleum Corporation is the national oil company of the State of Kuwait. Through an integrated supply chain managed by its six wholly owned subsidiaries, KPC oversees upstream, downstream, petrochemical, midstream and international operations. KPC is committed to the responsible production and global distribution of hydrocarbons, embedding innovative energy solutions across its business while serving as a trusted and reliable global supplier of hydrocarbons. For more information, please visit www.kpc.com.kw and follow @kpcofficialkw on X and Instagram.

About KOC

Kuwait Oil Company is responsible for all exploration, production, and transportation of crude oil on behalf of the State of Kuwait (itself the owner of the oil).

About Blackstone

Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s over $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

About Brookfield

Brookfield is a leading global investment firm with more than $1 trillion in assets under management headquartered in New York that owns and operates real assets and essential service businesses that form the backbone of the global economy. We invest on behalf of institutions and individuals around the world across infrastructure, renewable power and transition, private equity, real estate, and credit—sectors critical to supporting economic growth and productivity. With a heritage spanning more than a century and operations in over 30 countries, we deploy long-term, patient capital to build the foundational assets and businesses that power a more connected, resilient, and sustainable future—seeking to build long-term wealth for our clients while delivering strong risk-adjusted returns for our shareholders.

For more information, please visit our website at www.brookfield.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.

Media Contacts

KPC/KOC

Shahad Al-Rashidi

[email protected]

Blackstone

Dafina Grapci-Penney / Tom Clements

[email protected]

Brookfield

Simon Maine: [email protected]

Shveta Singh: [email protected]

KKR

Annabel Arthur

[email protected]

KEYWORDS: Kuwait Ireland United Kingdom Europe Middle East

INDUSTRY KEYWORDS: Oil/Gas Energy

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