Market Newsdesk

EDINBURGH, United Kingdom, Sept. 30, 2026 (GLOBE NEWSWIRE) — NuCana plc (NASDAQ: NCNA) (“NuCana” or the “Company”) announced that the European Patent Office (“EPO”) has granted an important patent covering the composition of matter for NUC-7738.

This patent (EP 3683225) is a key component of the patent protection for NUC-7738, which currently consists of over 85 issued patents worldwide. The composition-of-matter patent covers the chemical structure of NUC-7738, NuCana’s novel anti-cancer agent currently being evaluated in the Phase 2 part of a Phase 1/2 clinical study (NuTide:701) in combination with Keytruda^® (pembrolizumab) in patients with PD-1 inhibitor-resistant metastatic melanoma.

Securing this patent represents an important milestone for NuCana, further strengthening the Company’s long-term global intellectual property strategy and the potential commercial protection of NUC-7738.

Hugh S. Griffith, NuCana’s Founder and Chief Executive Officer, said: “We are delighted that the EPO has granted this important new patent, which further strengthens the intellectual property protection of NUC-7738 and reflects the strength and novelty of our science. This composition-of-matter patent is a critical addition to our global patent estate for NUC-7738, which now spans over 85 issued patents worldwide, and builds upon similar composition-of-matter patents previously granted in both the United States and China. This underscores our commitment to protecting NUC-7738’s long-term commercial potential across all major markets. With cash resources expected to fund our planned operations into 2029, we believe we are well positioned to advance the clinical development of NUC-7738 and to deliver on a number of important milestones over the remainder of 2026 as we work to bring meaningful new treatment options to patients with cancer.”

About NuCana

NuCana is a clinical-stage biopharmaceutical company focused on significantly improving treatment outcomes for patients with cancer by applying our ProTide technology to transform some of the most widely prescribed chemotherapy agents, nucleoside analogs, into more effective and safer medicines. While these conventional agents remain part of the standard of care for the treatment of many solid and hematological tumors, they have significant shortcomings that limit their efficacy and they are often poorly tolerated. Utilizing our proprietary technology, we are developing new medicines, ProTides, designed to overcome the key limitations of nucleoside analogs and generate much higher concentrations of anti-cancer metabolites in cancer cells. NuCana’s pipeline includes NUC-7738 and NUC-3373. NUC-7738 is a novel anti-cancer agent that disrupts RNA polyadenylation, profoundly impacts gene expression in cancer cells and targets multiple aspects of the tumor microenvironment. NUC-7738 is in the Phase 2 part of a Phase 1/2 study which is evaluating NUC-7738 as a monotherapy in patients with advanced solid tumors and in combination with pembrolizumab in patients with melanoma. NUC-3373 is a targeted thymidylate synthase (“TS”) inhibitor designed to overcome key pharmacological limitations associated with other TS inhibitors. NUC-3373 has recently been evaluated in a Phase 1b/2 modular study (NuTide:303) of NUC-3373 in combination with the PD-1 inhibitor pembrolizumab for patients with advanced solid tumors and in combination with docetaxel for patients with lung cancer, and NuCana is currently evaluating further characterization of mode of action and target indications for further clinical studies of NUC-3373.

Forward-Looking Statements

This press release may contain “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on the beliefs and assumptions and on information currently available to management of the Company. All statements other than statements of historical fact contained in this press release are forward-looking statements, including statements concerning the Company’s planned and ongoing clinical studies for the Company’s product candidates and the potential advantages of those product candidates, including NUC-7738 and NUC-3373; the initiation, enrollment, timing, progress, release of data from and results of those planned and ongoing clinical studies; the Company’s goals with respect to the development, regulatory pathway and potential use, if approved, of each of its product candidates; the utility of prior non-clinical and clinical data in determining future clinical results; and the sufficiency of the Company’s current cash and cash equivalents to fund its planned operations into 2029. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other comparable terminology. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to, our ability to raise additional capital sufficient to fund our planned operations and the risks and uncertainties set forth in the “Risk Factors” section of the Company’s Annual Report on Form 20-F for the year ended December 31, 2025 filed with the Securities and Exchange Commission (“SEC”) on March 19, 2026, and subsequent reports that the Company files with the SEC. Forward-looking statements represent the Company’s beliefs and assumptions only as of the date of this press release. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance or achievements. Except as required by law, the Company assumes no obligation to publicly update any forward-looking statements for any reason after the date of this press release to conform any of the forward-looking statements to actual results or to changes in its expectations.

For more information, please contact:

NuCana plc
Hugh S. Griffith
Chief Executive Officer
+44 131-357-1111
[email protected]

ICR Healthcare
Chris Brinzey
+1 339-970-2843
[email protected]

POMPANO BEACH, Fla., Sept. 30, 2026 (GLOBE NEWSWIRE) — BioStem Technologies Inc. (Nasdaq: BSEM) (“BioStem” or the “Company”), a leading regenerative medicine company focused on the development, manufacturing, and commercialization of perinatal tissue allograft products, today announced that it has entered into definitive agreements for the issuance and sale of 735,296 shares of the Company’s common stock, Series A warrants to purchase up to an aggregate of 735,296 shares of common stock and Series B warrants to purchase up to an aggregate of 735,296 shares of common stock, at a purchase price of $4.08 per share and associated warrants in a private placement priced at-the-market under Nasdaq rules. The warrants will have an exercise price of $3.83 per share and will be exercisable immediately upon issuance. The Series A warrants will expire five years after the effective date of the Resale Registration Statement (as defined below) and the Series B warrants will expire twenty-four months after the effective date of the Resale Registration Statement.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The aggregate gross proceeds to the Company from the offering are expected to be approximately $3 million, before deducting placement agent fees and other offering expenses. If the Series A and Series B warrants are exercised in full for cash, the Company would receive additional gross proceeds of approximately $5.6 million. There can be no assurance that any of the warrants will be exercised. The offering is expected to close on or about September 30, 2026, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.

The securities described above are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Act”) and Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants sold in the offering, have not been registered under the Act or applicable state securities laws. Accordingly, such securities may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from such registration requirements. Pursuant to a registration rights agreement, the Company has agreed to file one or more registration statements with the SEC covering the resale of the shares of common stock to be issued in the offering and issuable upon exercise of the warrants to be issued in the offering (the “Resale Registration Statement”).

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or 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 BioStem Technologies, Inc. (Nasdaq: BSEM):

BioStem Technologies, Inc. is a publicly traded, biomedical innovator, focused on developing, manufacturing and commercializing advanced allograft solutions derived from perinatal tissue. The company leverages its industry-leading proprietary BioRetain®, CryoTek® and SteriTek® processing technologies, designed to optimize the preservation of the natural properties of these tissues, supporting their use in clinical settings. Its allografts are used by clinicians across a wide range of specialties. With a growing portfolio of products, expanding clinical research initiatives, and a national commercial footprint, BioStem is committed to advancing innovation in regenerative medicine.

BioStem Technologies’ quality management system and standard operating procedures have been reviewed and accredited by the American Association of Tissue Banks (“AATB”). These systems and procedures are established in compliance with current Good Tissue Practices (“cGTP”) and current Good Manufacturing Practices (“cGMP”). BioStem’s portfolio of quality brands includes its Neox®, Clarix®, VENDAJE® and American Amnion™ product lines.

Forward-Looking Statements:

Certain statements in this press release may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to expectations or forecasts of future events. Forward-looking statements may be identified using words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate”, “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements in this press release include, without limitation, statements regarding the completion of the offering, the satisfaction of customary closing conditions related to the offering, the potential exercise of the warrants and the intended use of net proceeds from the offering.

Forward-looking statements with respect to strategies, prospects and other aspects of the business of the Company are based on current expectations that are subject to known and unknown risks and uncertainties, which could cause actual results or outcomes to differ materially from expectations expressed or implied by such forward-looking statements. These factors include, but are not limited to: the Company’s ability to maintain compliance with Nasdaq’s continued listing standards; the Company’s ability to obtain financing on terms acceptable to it, or at all; the impact of any changes in applicable laws or regulations; the Company’s accounts receivable collection risk and concentration; the Company’s ability to maintain production of its products in sufficient quantities to meet demand; and the possibility that the Company may be adversely affected by other general economic, business, and/or competitive factors. There may be additional risks about which the Company is presently unaware of or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company undertakes no duty to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Join BioStem’s Distribution List & Social Media:

To follow the latest developments at BioStem, sign up for the Company’s email distribution list HERE, and follow us on X and LinkedIn.

Contact BioStem:

Website: www.biostemtechnologies.com
E-Mail: [email protected]
X: @BSEM_Tech
Facebook: BioStemTechnologies
Phone: 954-380-8342

Investor Relations:

Philip Trip Taylor, Gilmartin Group
[email protected]

AUSTIN, Texas, Sept. 30, 2026 (GLOBE NEWSWIRE) — Asure Software, Inc. (Nasdaq: ASUR), a provider of payroll and HR solutions for employers and enterprise payroll tax and treasury infrastructure, will sponsor The University of Alabama’s 72nd Annual Human Resources Management Conference on October 21–22 in Tuscaloosa and the following day will host an open house at its Gardendale, Alabama, hub office on October 23. Together, the events mark Asure’s commitment to accelerate investment in serving the fast-growing base of Alabama employers.

Asure’s Alabama hub serves more than 1,200 of the company’s direct customers. That existing customer base, combined with what Asure sees as strong growth among Alabama businesses with 10 to 100 employees, has shaped its decision to expand the hub’s role. The company is particularly keen on the tech-fueled Huntsville market, which is growing over 250% faster than the state’s overall labor force. Statewide, Alabama employers face increasing demands across payroll, HR, benefits, time and attendance, and compliance.

“More than 1,200 direct customers already rely on our local Alabama team. That gives us a strong foundation for serving more employers across the state,” said Pat Goepel, Chairman and CEO of Asure. “We see an opportunity to uniquely help Alabama’s businesses growing from 10 employees to 100: they want state of the art payroll and HR support, and value local expert support. Investing in Gardendale brings those capabilities close to home.”

Hosted by The University of Alabama at the Bryant Conference Center, the annual human resources management conference brings together HR professionals, business owners and managers for sessions on workforce management, compensation, employee development and employment law. Asure’s sponsorship connects the company with the professionals advising Alabama employers as their workforce needs evolve.

The October 23 open house 12:30pm to 4pm will bring customers, prospective customers and local business leaders together at Asure’s Gardendale hub at 2447 Decatur Highway, Gardendale. Over celebrated barbeque from Bessemer’s famous Bob Sykes BBQ, Asure plans to introduce attendees to the team serving its Alabama customers and discuss how its payroll and HR solutions help employers manage the operational work that accompanies growth. The event follows the two-day Tuscaloosa conference and extends Asure’s engagement with employers beyond the conference floor.

“The conference is an opportunity to listen to Alabama employers and their HR, compensation, and benefits leaders, and the open house is an opportunity to show them the team behind our service,” Goepel added. “Our investment in Gardendale reflects the scale of the business we already support here and our confidence in the state’s employers.”

For conference information, visit https://training.ua.edu/hrm/. For invitations and to RSVP to the October 23 open house 12:30pm-4pm at 2447 Decatur Highway, visit https://offers.asuresoftware.com/asure-bbq-open-house.

About Asure Software

Asure (Nasdaq: ASUR) provides payroll and HR solutions for employers and enterprise payroll tax and treasury infrastructure for large organizations. For employers, Asure’s platform covers payroll, HR, recruiting, time and attendance, benefits, and compliance — delivered through AsureCentral, its connected platform, or through AsureWorks, its managed services offering for employers who prefer to outsource the work entirely. For large enterprises, Asure’s payroll tax and treasury infrastructure handles multi-jurisdiction tax filing, funding, and money movement, integrating with platforms including Workday, Oracle, and SAP. For more information, visit www.asuresoftware.com.

Investor Relations Contact

Patrick McKillop
Vice President, Investor Relations
Asure Software
617-335-5058
[email protected]

FDA indicated previously completed ABP-450 head-to-head studies versus BOTOX® may be submitted as supportive evidence; AEON expects to advance the required scientific bridging work

AEON plans to submit an IND for CMAP pharmacodynamic study in the fourth quarter of 2026

AEON plans to leverage its analytical, pharmacodynamic, and existing comparative human evidence to support a potential streamlined development path

ALISO VIEJO, Calif., Sept. 30, 2026 (GLOBE NEWSWIRE) — AEON Biopharma, Inc. (“AEON” or the “Company”) (NYSE American: AEON), a biopharmaceutical company advancing ABP-450 as a biosimilar to BOTOX® (onabotulinumtoxinA) for therapeutic use to achieve full-label U.S. market entry, today announced receipt of the official minutes from its Biosimilar Biological Product Development (“BPD”) Type 2b meeting held with the U.S. Food and Drug Administration (“FDA” or the “Agency”) regarding ABP-450’s development pathway.

“The Type 2b meeting feedback provides greater clarity on the development pathway for ABP-450 and, consistent with FDA’s recent biosimilar guidance, supports a potentially more efficient clinical development program,” said Rob Bancroft, President and Chief Executive Officer of AEON. “Our strategy is to bring together the most sensitive, complementary and relevant evidence available, including our analytical program, comparative human pharmacodynamic data and the substantial comparative human experience already generated with ABP-450. Where those lines of evidence converge, we believe they may support proceeding without a standalone comparative efficacy study or narrowing the clinical work required, improving the capital and time efficiency with which we advance ABP-450 toward its potential commercial opportunity. We are excited to embark on this next phase of ABP-450’s development and look forward to submitting the IND for the CMAP study later this year.”

The Type 2b meeting provided feedback across the following components of AEON’s development plan:

Comparative Pharmacodynamic Study

AEON proposed a two-stage design for a comparative pharmacodynamic (“PD”) study using Compound Muscle Action Potential (“CMAP”) measurement in the extensor digitorum brevis muscle consisting of an initial dose-finding stage followed by a comparative PD evaluation. The FDA agreed in principle with the initial dose-finding stage which will be conducted in healthy volunteers. The FDA also provided recommendations intended to strengthen the study’s ability to demonstrate assay sensitivity. AEON intends to incorporate the FDA’s feedback and advance the study under an investigational new drug application (“IND”), which the Company expects to submit in the fourth quarter of 2026.

In a biosimilar development program, PD measures are tests that evaluate the biological, molecular, and physiological effects a drug has on the body to confirm that the biosimilar interacts with its intended therapeutic target in a similar way as the original reference biologic. PD evidence is particularly important for a botulinum toxin, which acts locally and is not present at reliably measurable systemic concentrations following therapeutic administration, making conventional comparative pharmacokinetic studies infeasible.

Previously Completed Comparative Studies

The FDA indicated that comparative clinical studies previously conducted by Daewoong Pharmaceutical across several indications including studies in blepharospasm, upper limb spasticity, glabellar lines and lateral canthal lines, can be submitted for consideration as supportive evidence, subject to appropriate scientific bridging to U.S.-licensed BOTOX® and between the ABP-450 drug product used in each study and ABP-450 as currently manufactured. Blepharospasm and upper limb spasticity are therapeutic indications included on the U.S. BOTOX® label, while glabellar lines and lateral canthal lines are included on the BOTOX Cosmetic® label.

These studies evaluated ABP-450 relative to BOTOX® across a range of indications, doses and muscles, with each study meeting its pre-specified non-inferiority endpoint. AEON intends to complete the scientific bridging work necessary to support their consideration within the totality of evidence for ABP-450. If appropriately bridged, AEON believes these studies could complement the analytical and PD programs by providing additional comparative human evidence supportive of biosimilarity.

Comparative Clinical Study Considerations

The FDA’s scientific approach to biosimilar development has continued to evolve toward greater reliance on evidence that is most sensitive to detecting meaningful differences between a proposed biosimilar and its reference product. In October 2025, the FDA issued draft guidance recognizing that traditional comparative efficacy studies (“CES”) generally have limited sensitivity to detect product differences and may not be necessary where more sensitive evidence sufficiently supports a determination of biosimilarity. The guidance reflects the FDA’s growing experience that traditional clinical efficacy endpoints may provide limited additional discriminatory information in biosimilar development.

Consistent with this evolving framework, during the Type 2b meeting, the FDA emphasized that, if additional clinical evidence is ultimately needed, such evidence should be sufficiently sensitive to detect a meaningful difference between the products, if one exists. The FDA also indicated that more sensitive measures of biological activity, rather than traditional clinical efficacy endpoints, could be considered and that the design of any additional clinical study should be guided by the specific residual uncertainty remaining following completion of the comparative analytical assessment (“CAA”). Accordingly, AEON does not intend to initiate a CES at this time and will first evaluate the totality of its analytical, pharmacodynamic and comparative human evidence to determine whether additional clinical evidence is scientifically necessary and, if so, the most appropriate approach to address any remaining residual uncertainty.

Indication-Specific Considerations

The FDA feedback also addressed indication-specific considerations, including chronic migraine. During the meeting, the FDA invited the Company to provide analyses supporting the rationale for the outcome of the previously conducted Phase 2 study for the prevention of migraine headache, which the Company intends to complete and provide to the FDA as part of its 351(k) Biologics License Application (“BLA”) submission.

Comparative Analytical Assessment

The CAA is the scientific foundation of development under the 351(k) pathway and provides a sensitive means of identifying potential structural and functional differences between a proposed biosimilar and its reference product. AEON is conducting a broad CAA of ABP-450 and U.S.-licensed BOTOX® across structural, physicochemical and functional attributes. The Company recently reported progress across multiple dimensions of that program, including expanded primary-sequence characterization, confirmation of critical disulfide-bond architecture, and pilot forced-degradation results demonstrating highly similar degradation behavior between ABP-450 and BOTOX® under thermal and oxidative stress conditions. 

Next Steps: Converging Evidence

AEON’s next phase of development will integrate its maturing comparative analytical foundation with multiple independent and complementary lines of evidence, including human PD evidence, existing comparative human evidence scientifically bridged to the biosimilar program, and targeted evidence addressing indication-specific questions. The Company intends to leverage the convergence of these evidence streams to build a scientifically supported case whereby a standalone CES may not further inform a determination of biosimilarity. AEON plans to return to the FDA in 2027 with its integrated evidence package.

Anticipated milestones for ABP-450’s development program include:

• Continued completion of CAA studies in support of biosimilarity between ABP-450 and BOTOX® 
• Filing an IND for CMAP PD study in Q4 2026
• CMAP PD study initiation in Q1 2027
• Scientific bridging of ABP-450 and BOTOX® to support previously completed comparative studies

About the U.S. Biosimilar Pathway

The 351(k) biosimilar pathway is grounded in a totality-of-the-evidence approach. The FDA evaluates a proposed biosimilar using the most sensitive and scientifically informative methods available to identify potential differences from its reference product, with comparative analytical assessment providing the scientific foundation. The nature and extent of any additional studies the FDA may require prior to approval are informed by the residual uncertainty remaining after that assessment. Once biosimilarity is established, the FDA has the authority to approve a biosimilar for additional indications of the reference product through scientifically justified extrapolation, without requiring separate clinical studies in each indication.

In October 2025, the FDA issued draft guidance proposing that a comparative efficacy study — a comparative clinical study with efficacy endpoints — may not be necessary where a comparative analytical assessment demonstrates that a proposed product is highly similar to its reference product. The draft guidance reflects the FDA’s view that comparative analytical methods are generally more sensitive than comparative efficacy studies for detecting differences between products.

About AEON Biopharma

AEON Biopharma is a biopharmaceutical company pursuing full-label access to the U.S. therapeutic neurotoxin market via biosimilarity to BOTOX^®. The U.S. therapeutic neurotoxin market exceeds $3.0 billion annually, representing a major opportunity for biosimilar entry. ABP-450 is the same botulinum toxin complex currently approved and marketed for cosmetic indications by Evolus, Inc. under the name Jeuveau^®. ABP-450 is manufactured by Daewoong Pharmaceutical in a facility that has been authorized by the U.S. Food and Drug Administration, Health Canada, and the European Medicines Agency for the manufacture of certain third-party botulinum toxin products. AEON has exclusive development and distribution rights for therapeutic indications of ABP-450 in the United States, Canada, the European Union, the United Kingdom, and certain other international territories. To learn more about AEON, visit www.aeonbiopharma.com.

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. These forward-looking statements reflect the current beliefs and expectations of management. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Forward-looking statements generally relate to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Forward-looking statements in this press release include, among others, (i) statements regarding the Company’s plans and expected timing to submit an IND and initiate the CMAP pharmacodynamic study; (ii) the design, execution and potential evidentiary value of that study; (iii) the Company’s ability to complete its comparative analytical assessment and the scientific bridging necessary to support consideration of previously completed comparative studies; (iv) the potential for analytical, pharmacodynamic and existing comparative human evidence, individually or collectively, to support a determination of biosimilarity or reduce the need for a standalone comparative efficacy study; (v) the nature and scope of any additional clinical studies that may be required; (vi) the timing and outcome of future interactions with the FDA, including the Company’s planned engagement with the FDA in 2027; and (vii) the Company’s ability to advance ABP-450 through the 351(k) pathway toward potential full-label therapeutic approval and commercial entry. In addition, when or if used in this press release, the words “may,” “could,” “should,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “potential,” “will,” “predict” and similar expressions and their variants, as they relate to the Company, may identify forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Although the Company believes the expectations reflected in such forward-looking statements are reasonable, the Company can give no assurance that such expectations will prove to be correct. Risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the Company’s forward-looking statements include, among others, (viii) the FDA’s interpretation of the data and information generated or submitted by the Company; (ix) the possibility that the FDA may require additional analytical, pharmacodynamic, clinical or other studies; (x) the Company’s ability to successfully complete its planned studies and scientific bridging activities; (xi) whether the results of those activities will support the Company’s proposed development approach; (xii) changes in FDA guidance, regulatory requirements or interpretations, including with respect to the role of comparative clinical studies in biosimilar development; (xiii) the Company’s ability to obtain sufficient capital to fund its planned development activities; (xiv) and other risks described in the Company’s filings with the Securities and Exchange Commission. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to update such statements except as required by applicable law.

Contacts
Investor Contact:
Hershel Berry
Blueprint Life Science Group
[email protected]
Source: AEON Biopharma

*Rendering of Firefly’s Elytra vehicle in lunar orbit with Starcloud’s compute payload onboard

CEDAR PARK, Texas, Sept. 30, 2026 (GLOBE NEWSWIRE) — Firefly Aerospace (Nasdaq: FLY), a market leading space and defense technology company, today announced a new commercial payload agreement with Starcloud to demonstrate advanced AI computing capabilities in lunar orbit. Starcloud’s computing payload, designated SC-1L, will fly onboard Firefly’s Elytra orbital vehicle to validate the core capabilities of a future data center around the Moon that can support lunar surface and orbital infrastructure.

“We’re proud to collaborate with innovative customers like Starcloud and collectively take another step toward establishing the infrastructure that will power a permanent human and robotic presence at the Moon,” said Ray Allensworth, Vice President of Spacecraft at Firefly Aerospace. “By pairing Starcloud’s AI computing payload with our Elytra vehicle and Solux vision system, we’re demonstrating how data can be captured, processed, and delivered from lunar orbit, laying the groundwork for the computing infrastructure future lunar operations will depend on.”

Integrated on Elytra, Starcloud’s SC-1L processor will ingest data from Firefly’s onboard Solux vision system, perform high-power AI computing on orbit, and rapidly transmit the processed data back to Earth. The demonstration builds directly on Starcloud’s recent AI computing demonstration in low Earth orbit, extending those proven capabilities into lunar orbit.

Starcloud is being onboarded to Firefly’s third lunar mission that’s targeted to launch no earlier than 2028. For this mission, Firefly’s Elytra orbiter will first serve as the transfer vehicle and communications relay for Firefly’s Blue Ghost lander that will land on the Moon’s Gruithuisen Domes and operate several science and technology instruments as part of NASA’s Commercial Lunar Payload Services (CLPS) initiative. Following completion of the mission, Elytra will remain in lunar orbit for five years to enable customer payload and imaging operations, including Starcloud’s demonstration.

“Space is the future of data centers, and the Moon is the next frontier for that vision,” said Ezra Feilden, Cofounder and CTO at Starcloud. “We successfully validated our ability to run and train AI models on enterprise grade GPUs in low Earth orbit, and now we’re taking this proven technology to lunar orbit. Onboard Firefly’s Elytra vehicle, we’ll demonstrate high-power AI computing and further prove we can process massive volumes of data right where it’s generated to support the growing infrastructure beyond Earth.”

Formerly known as Sol3, Firefly’s Solux vision system onboard Elytra enables spacecraft to autonomously navigate, land, and track their orientation in space environments where Global Navigation Satellite Systems (GNSS) and GPS are unavailable. Elytra will also have high-resolution telescopes onboard to enable Firefly’s Ocula lunar imaging service that provides advanced lunar surface mapping, mineral detection, and reconnaissance.

This will be the second Elytra vehicle Firefly is deploying to lunar orbit following the launch of Blue Ghost Mission 2, targeted for no earlier than 2027. Each Elytra vehicle is designed to remain in lunar orbit for up to five years, enabling more rapid revisit times of the lunar surface for government and commercial customers.

Firefly also recently announced a collaboration with NVIDIA to process data on orbit for its Ocula lunar imaging service. The Ocula data will be rapidly processed onboard Elytra in lunar orbit and autonomously transmitted back to Earth utilizing the NVIDIA Jetson module and Firefly’s AI software through its SciTec subsidiary. This allows Firefly to mitigate downlink constraints from the Moon by processing data in lunar orbit before it is transmitted to Earth as real-time, actionable insights.

About Firefly Aerospace

Firefly Aerospace is a space and defense technology company on a mission to reliably and repeatedly launch, land, and operate space systems from Earth to the Moon and beyond. As the partner of choice for responsive space missions, Firefly is the first commercial company to launch a satellite to orbit with approximately 24-hour notice and the first to achieve a successful landing on the Moon. Established in 2017, Firefly’s engineering, manufacturing, and test facilities are co-located in central Texas to enable rapid innovation and vertical integration for the company’s small- to medium-lift launch vehicles, lunar landers, and orbital vehicles. For more information, visit www.fireflyspace.com.

Forward-Looking Statement

This press release contains “forward-looking statements” including, but not limited to, statements regarding the expected capabilities and demonstrations of Elytra, Solux and Ocula lunar imaging service, expected launch dates for Blue Ghost missions, AI capabilities, statements of Firefly’s Vice President of Spacecraft, and other statements regarding Firefly’s future expectations, beliefs, plans, objectives, financial condition, assumptions, future events, or performance that are not historical facts. In some cases, you can identify forward-looking statements because they contain words such as “allows” “enable,” “may,” “position,” “will,” “expects,” “plans,” “anticipates,” “could,” “would,” “target”, “set,” “intends,” “support,” and “believes.” There may also be negative words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Not all forward-looking statements contain such identifying words. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates, or expectations will be achieved.

Various risks that could cause actual results to differ from those expressed by the forward-looking statements included in this press release include, but are not limited to: our failure to manage our growth effectively, including the increasing technological complexity of our business, and our ability to achieve and maintain profitability; the potential for delayed or failed launches, and any failure of our launch vehicles and spacecraft to operate as intended; our inability to deliver software on time or of a quality that our customers demand; the hazards and operational risks that our products and service offerings are exposed to, including the wide and unique range of risks due to the unpredictability of space; the inability to realize our backlog; the fluctuation of our operating results; adverse publicity stemming from any incident involving us, our competitors, or our customers; the failure to adequately protect our proprietary intellectual property rights; our inability to comply with our contractual obligations; and other risk factors set forth in our filings with the Securities and Exchange Commission. 

Readers are cautioned not to place undue reliance on the forward-looking statements contained herein, which speak only as of the date hereof. These statements are based on management’s current expectations, assumptions, and beliefs concerning future developments, which are inherently subject to uncertainties, risks, and changes in circumstances that are difficult to predict. We cannot assure you that the events reflected in the forward-looking statements will occur; actual events could differ materially from those described in the forward-looking statements. We undertake no intent or obligation to publicly update or revise any of the estimates and other forward-looking statements made in this announcement, whether as a result of new information, future events or otherwise, except as required by law.

Media Contact

[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3111ca86-936c-41ba-9720-bd90184f89e6

Highlights that Every Incumbent Director Nominee Received Substantially More Withheld Votes Than Votes in Favor, by as Much as Nearly 3 to 1, and that Stockholders Rejected the 2026 Equity Incentive Plan by Approximately 82%

Urges the Board to Promptly Engage with Bastion Trading to Address Stockholder Concerns and Materially Reconstitute the Board

NEW YORK, Sept. 30, 2026 (GLOBE NEWSWIRE) — Bastion Trading Limited (“Bastion Trading,” “we” or “our”), a major stockholder of SkyAI, Inc. (Nasdaq: SKYA) (“SkyAI” or the “Company”) that, together with certain of its affiliates, beneficially owns approximately 9.99% of the Company’s outstanding common stock, today called on the Company’s Board of Directors (the “Board”) to respond to the clear message delivered by stockholders at the Company’s September 18, 2026 annual meeting of stockholders (the “2026 Annual Meeting”).

The Stockholders Have Spoken

At the 2026 Annual Meeting, the stockholders delivered a resounding message of their dissatisfaction. According to the Company’s official voting results:

• Withhold Votes Exceeded Support for Every Director: Every one of the five incumbent director nominees suffered substantially more withheld votes than votes cast in their favor. In the most severe instances, withheld votes outnumbered affirmative votes by nearly 3-to-1.¹
• Overwhelming Rejection of Executive Equity Incentive Plan: Stockholders overwhelmingly rejected the Company’s 2026 Equity Incentive Plan, with approximately 82% of votes cast against the proposal.2

The Company has also disclosed that approximately 82.2% of the Company’s outstanding shares were represented at the meeting.³ This was not stockholder apathy – stockholders showed up in force to make their views known.

The directors have nevertheless retained their seats because the Company uses an archaic and undemocratic plurality voting standard for uncontested director elections and has not adopted a resignation policy requiring directors who fail to receive majority support to tender their resignations. That voting standard, and the absence of any resignation policy, explain the legal outcome; in no way does the recent voting demonstrate stockholder support for the Board’s stewardship. In fact, it is much the opposite. The Board should recognize the distinction and respond accordingly.

We call on the Board to immediately and meaningfully engage with its stockholders to address our concerns and substantially reconstitute the Board with new independent directors that can provide fresh perspectives in the boardroom and help restore investors’ faith in the Company.

SkyAI’s Governance is Broken and Stockholders Require an Accountable Board

The stockholder votes come against a backdrop of significant concerns regarding SkyAI’s corporate governance, capital allocation and strategic direction.

      1.   Related-party transactions raise serious questions and warrant scrutiny.

The Company has entered into substantial related-party arrangements, raising a fundamental question – how much of the economic value generated by the Company is ultimately accruing to shareholders, and how much is being transferred—directly or indirectly—to a director and her family members?

Among others:

• In 2025, SkyAI paid $3.33 million in consulting fees to Sol Edge Limited (“Sol Edge”) under a 20-year agreement and recorded a $6.67 million prepaid expense.⁴
• In H1 2026, SkyAI paid another $5 million in consulting fees to Sol Edge, representing approximately 92% of its $5.46 million of staking revenue.⁵
• In Q2 2026 alone, SkyAI paid $2.5 million in consulting fee to Sol Edge, exceeding its $2.32 million of staking revenue.⁶  
• SkyAI also issued Sol Markets warrants to purchase 6,321,367 shares, with an approximately $101.3 million grant-date accounting fair value.⁷
• SkyAI is currently paying Sol Edge a 2.0% annual consulting fee on Account Equity up to $1 billion.⁸ By comparison, other Solana DAT peers have disclosed materially lower asset-management fees: Upexi, Inc. at 1.75%, Solana Company at 1.0%, and Forward Industries, Inc. at 0.6%.⁹

Both Sol Edge and Sol Markets are controlled by James Zhang, the brother of SkyAI director and Chief Investment Officer Yuwen (Alice) Zhang.¹⁰

Stockholders deserve an independent review of how these arrangements were negotiated, valued and approved, and whether the process adequately protected unaffiliated stockholders.

      2.   Executive compensation is out of proportion to the Company’s size and performance.

SkyAI’s management has rewarded itself with compensation that appears completely inappropriate given Company’s size and performance. In 2025 alone, three executives received approximately $8.76 million in compensation¹¹:

• Executive Chairman and CEO Paul K. Danner received approximately $3.46 million, including a $1.0 million bonus and $2.21 million of option awards;
• Chief Investment Officer and Director Yuwen (Alice) Zhang received approximately $2.97 million, including $2.76 million of option awards; and
• Former CEO Robert M. Hayes received approximately $2.33 million, including approximately $1.2 million in severance.

Against this backdrop, the Company’s proposal to authorize another 5.145 million shares under the 2026 Equity Incentive Plan—approximately 7.2% of its fully diluted share count—was overwhelmingly rejected by shareholders, with approximately 22.46 million shares voting against versus only 5.05 million in favor.¹²

The message from stockholders is crystal clear. Management cannot continue to demand millions in compensation and additional equity dilution while delivering little meaningful per-share value creation to its true owners – its stockholders.

The Board should stop treating shareholder equity as management’s compensation pool.

      3.   ISS has questioned Board independence.

In connection with the 2026 Annual Meeting, Institutional Shareholder Services Inc. (“ISS”) recommended that stockholders WITHHOLD votes for all five incumbent director nominees and raised concerns regarding Board independence and the composition of key committees. ISS concluded that more than half of the Board was not independent under ISS standards, specifically identifying Paul K. Danner, Soren Bo Christiansen and Yuwen (Alice) Zhang as non-independent. Notably, while the Company classifies Mr. Christiansen as independent, ISS did not.¹³

Stockholder Concerns Must be Addressed

We believe it is incumbent upon the Board to immediately engage with its stockholders to add independent directors with the background and skillsets necessary to restore investors’ faith in the future of the Company.

We call on the Board to promptly:

• Engage with Bastion Trading to address the concerns outlined in this release.
• Conduct and publicly disclose the findings of an independent review of:
  • All of the Company’s material related-party transactions;
  • The January 2026 bylaw amendments; and
  • The poison pill.
• Implement and publicly disclose a credible plan to increase SOL per share and narrow the mNAV discount.

The Board Has an Opportunity to Respond

The 2026 Annual Meeting has made clear that a substantial portion of SkyAI’s stockholders are dissatisfied with the Company’s current direction.

The Board now has an opportunity to respond as proper fiduciaries should. We stand ready to engage privately and constructively with the Company to identify and agree on beneficial solutions to address the many concerns noted in this letter for the benefit of all SkyAI stockholders.

Given the clear message conveyed at the 2026 Annual Meeting, we – and, we expect, other stockholders – will be watching the Company very closely. Absent timely and meaningful responses or engagement, we are prepared to pursue all available legal remedies to protect our investment and stockholders’ rights. We will seek to hold the Board accountable should it continue to disregard stockholder concerns or take actions detrimental to stockholder rights. As such, we reserve all rights and waive none.

The Board should therefore treat this stockholder message seriously and engage constructively rather than force stockholders to seek legal relief.

Sincerely,

Bastion Trading Limited

About Bastion Trading

Bastion Trading is a proprietary trading firm founded by experienced investment professionals. The firm invests its own capital across global financial markets, leveraging deep market expertise, quantitative strategies and proprietary technology to identify opportunities and manage risk.

^{___________________________________}

¹ The Company’s Current Report on Form 8-K, filed with the SEC on September 24, 2026.
²Id.
³Id.
⁴ The Company’s Annual Report on Form 10-K, filed with the SEC on March 31, 2026.
⁵ The Company’s Quarterly Report on Form 10-Q, filed with the SEC on August 7, 2026.
⁶Id.
⁷ The Company’s Annual Report on Form 10-K, filed with the SEC on March 31, 2026.
⁸ The Company’s Quarterly Report on Form 10-Q, filed with the SEC on August 7, 2026.
⁹ Peer public filings as of September 25, 2026.
¹⁰ The Company’s Annual Report on Form 10-K, filed with the SEC on March 31, 2026.
¹¹ The Company’s Proxy Statement on DEF 14A, filed with the SEC on August 18, 2026.
¹² The Company’s Current Report on Form 8-K, filed with the SEC on September 24, 2026.
¹³ ISS report dated August 28, 2026.

Contacts
Olshan Frome Wolosky LLP
Andrew Freedman / Rebecca Van Derlaske
[email protected]/ [email protected]

Quinn Emanuel Urquhart & Sullivan, LLP
Jianjian Ye
[email protected] 

San Diego, Calif., Sept. 30, 2026 (GLOBE NEWSWIRE) — California BanCorp (the “Company”) (Nasdaq: BCAL), the holding company for California Bank of Commerce, N.A. (the “Bank”), announces that the Bank plans to open a new commercial loan production office at 595 Market Street in downtown San Francisco on October 1, 2026. The new office reflects the Bank’s continued commitment to strategic growth and will expand its commercial banking presence in the Bay Area.

“Establishing a physical presence in San Francisco allows the Bank to better serve the city’s diverse and innovative business community. This new office broadens our reach in Northern California and advances our mission to provide responsive, locally focused commercial banking services to privately held businesses,” said David Rainer, Chairman and CEO of the Company and Bank.

ABOUT CALIFORNIA BANCORP

California BanCorp (NASDAQ: BCAL) is a registered bank holding company headquartered in San Diego, California. California Bank of Commerce, N.A., a national banking association chartered under the laws of the United States (the “Bank”) and regulated by the Office of Comptroller of the Currency, is a wholly owned subsidiary of California BanCorp. Established in 2001 and headquartered in San Diego, California, the Bank offers a range of financial products and services to individuals, professionals, and small to medium-sized businesses through its 14 branch offices and four loan production offices serving California. The Bank’s solutions-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with its clients. Additional information is available at www.californiabankofcommerce.com.

INVESTOR RELATIONS CONTACT

[email protected]

SINGAPORE, Sept. 30, 2026 (GLOBE NEWSWIRE) — Ten-League International Holdings Limited (Nasdaq: TLIH) (the “Company” or “Ten-League”), a Singapore-based provider of turnkey project solutions, today announced its unaudited financial results for the six months ended June 30, 2026.

First Six Months of Fiscal Year 2026 Financial Highlights

• Revenue was S$33.1 million (US$25.6 million) for the six months ended June 30, 2026, with engineering consultancy service income and rental income together contributing 45.4% of total revenue, compared with 18.5% in the same period last year, reflecting continued progress in the Company’s transition towards higher-value engineering solutions and recurring rental activities.
• Growth businesses gained scale, with engineering consultancy service income increasing 669.4% to S$8.6 million (US$6.6 million) and rental income increasing 9.9% to S$6.4 million (US$5.0 million).
• Gross profit margin was 24.0% for the six months ended June 30, 2026, an increase of 0.5 percentage points from 23.5% for the same period last year.
• Net cash provided by operating activities remained strong at S$10.0 million (US$7.7 million), broadly consistent with the same period last year, supporting continued investment in the Company’s strategic priorities.
• Financial position remained sound, with cash and cash equivalents of S$10.9 million (US$8.5 million) and shareholders’ equity increasing to S$18.5 million (US$14.3 million) as of June 30, 2026.

Mr. Jison Lim, Chief Executive Officer and Chairman of Ten-League, commented, “The first half of fiscal year 2026 demonstrated meaningful progress in reshaping our revenue mix towards engineering-led solutions and recurring rental activities amid evolving market conditions. Engineering consultancy services and rental together represented 45.4% of total revenue, compared with 18.5% in the same period last year. This shift reflects the increasing contribution from our strategic focus areas, including new energy infrastructure, automation and integrated engineering solutions. The delivery and acceptance of 30 electric prime movers (“ePM”) supported significant growth in engineering consultancy service income, while rental income continued to expand. Despite softer equipment sales, gross profit margin improved to 24.0%, demonstrating the resilience of our evolving business mix.”

Mr. Lim continued, “Looking ahead, we remain focused on advancing our strategic priorities across new energy infrastructure, automation, and engineering. We will continue to enhance our engineering capabilities and provide solutions that support customers’ operational efficiency and transition toward more sustainable equipment and infrastructure. At the same time, we remain committed to fostering strategic collaborations and strengthening our network of business partners. We believe these initiatives will position Ten-League to capture emerging opportunities as Singapore’s infrastructure and industrial sectors continue to evolve, while creating sustainable long-term value for our shareholders.”

First Six Months of Fiscal Year 2026 Unaudited Financial Results

Revenues

Total revenues were S$33.1 million (US$25.6 million) for the six months ended June 30, 2026. The revenue mix continued to shift towards engineering consultancy services and rental activities, which together contributed 45.4% of total revenue, compared with 18.5% for the same period last year. This change reflects the Company’s ongoing transition from primarily equipment sales towards a broader portfolio of engineering-led, new energy and recurring rental solutions.

• Sales of heavy equipment and parts contributed 54.6% of total revenue for the six months ended June 30, 2026, compared with 81.5% for the same period last year, as contractors made greater use of rental equipment, delayed fleet replacement following significant fleet expansion over the preceding two years, and operated in a market with an oversupply of used equipment. Sales of heavy equipment and parts were S$18.1 million (US$14.0 million) for the six months ended June 30, 2026, a decrease of 41.1% from S$30.7 million for the same period last year.
• Engineering consultancy service income was S$8.6 million (US$6.6 million) for the six months ended June 30, 2026, representing 25.9% of total revenue, compared with 3.0% for the same period last year. The increase of 669.4% was mainly due to the delivery and acceptance of 30 ePM and demonstrated the Company’s increasing commercialization of engineering and new energy capabilities.
• Rental income increased 9.9% to S$6.4 million (US$5.0 million) for the six months ended June 30, 2026, and represented 19.5% of total revenue, compared with 15.5% for the same period last year. The increase reflected stronger rental demand amid economic uncertainty and high financing costs, reinforcing the contribution from recurring rental activities.

Cost of Revenue

Cost of revenue was S$25.1 million (US$19.4 million) for the six months ended June 30, 2026, a decrease of 12.8% from S$28.8 million for the same period last year.

Gross Profit

Gross profit was S$8.0 million (US$6.1 million) for the six months ended June 30, 2026, a decrease of 10.1% from S$8.8 million for the same period last year.

Gross profit margin was 24.0% for the six months ended June 30, 2026, an increase of 0.5 percentage points from 23.5% for the same period last year.

• Gross profit margin for sales of heavy equipment and parts was 15.0% for the six months ended June 30, 2026, an increase of 0.2 percentage points from 14.8% for the same period last year. The increase was mainly due to better product mix and margin even though absolute sales value decreased.
• Gross profit margin for engineering consultancy service income was 20.2% for the six months ended June 30, 2026, a decrease of 49.1 percentage points from 69.3% for the same period last year. The decrease was mainly due to the delivery and acceptance of 30 ePM.
• Gross profit margin for rental income was 54.7% for the six months ended June 30, 2026, a decrease of 5.4 percentage points from 60.1% for the same period last year. The decrease was mainly due to higher depreciation expenses.

Selling and Distribution Expenses

Selling and distribution expenses were S$0.4 million (US$0.3 million) for the six months ended June 30, 2026, an increase of 21.7% from S$0.3 million for the same period last year. The increase was due to increase of staff salary and related costs.

General and Administrative Expenses

General and administrative expenses were S$5.2 million (US$4.0 million) for the six months ended June 30, 2026, a decrease from S$5.7 million for the same period last year.

Total Other Gain (Loss), Net

Total net other loss was S$0.1 million (US$0.08 million) for the six months ended June 30, 2026, compared to a total net other gain of S$0.1 million for the same period last year.

Net Income

Net income was S$1.7 million (US$1.3 million) for the six months ended June 30, 2026, compared to S$2.4 million for the same period last year.

Basic and Diluted Income per Share

Basic and diluted income per share was S$0.59 (US$0.46) for the six months ended June 30, 2026, compared to S$0.86 for the same period last year.

Financial Condition

As of June 30, 2026, the Company had cash and cash equivalents of S$10.9 million (US$8.5 million), compared to S$10.7 million as of December 31, 2025.

Net cash provided by operating activities was S$10.0 million (US$7.7 million) for the six months ended June 30, 2026, compared to S$10.0 million for the same period last year.

Net cash used in investing activities was S$7.1 million (US$5.5 million) for the six months ended June 30, 2026, compared to net cash provided by investing activities of S$0.2 million for the same period last year.

Net cash used in financing activities was S$2.6 million (US$2.0 million) for the six months ended June 30, 2026, compared to S$5.7 million for the same period last year.

Exchange Rate Information

This announcement contains translations of certain Singapore dollar amounts into U.S. dollars for the convenience of the reader. Translations of amounts from Singapore dollars into U.S. dollars have been made at the exchange rate of S$1.2941 = US$1.00, which was the foreign exchange rate on June 30, 2026 as reported by the Board of Governors of the Federal Reserve System in its weekly release on July 6, 2026.

About Ten-League International Holdings Limited

Ten-League International Holdings Limited is a Singapore-based provider of turnkey project solutions. The Company’s business primarily consists of sales of heavy equipment and parts, heavy equipment rental and provision of engineering consultancy services to port, construction, civil engineering and underground foundation industries. The equipment is organized into four categories based on their functions and application scenarios: foundation equipment, hoist equipment, excavation equipment and port machinery. The Company also provides value-added engineering solutions under engineering consultancy services with the aim to address potential safety issues, enhance reliability and productivity and allow for customers to evaluate the performance of the equipment, the quality of the work completed and the progress of their projects. Ten-League’s mission is to provide high-quality equipment, value-added engineering solutions as well as maintenance and repair through continuous adaptation and application of new technologies. For more information, please visit the Company’s website: https://ir.ten-league.com.sg/.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements. 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 find many (but not all) of these statements by the use of words such as “believe”, “plan”, “expect”, “intend”, “should”, “seek”, “estimate”, “will”, “aim” and “anticipate” or other similar expressions in this press release. 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 registration statement and other filings with the U.S. Securities and Exchange Commission (“SEC”). Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading “Risk Factors” in the Company’s Annual Reports on Form 20-F, as may be supplemented or amended by the Company’s Reports of a Foreign Private Issuer on Form 6-K.

For investor and media inquiries, please contact:

Ten-League International Holdings Limited

Investor Relations Department
Email: [email protected]

Ascent Investor Relations LLC

Tina Xiao
Phone: +1 646-932-7242
Email: [email protected]

TEN-LEAGUE INTERNATIONAL HOLDINGS LIMITED AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Amount in thousands, except for share and per share data, or otherwise noted)
				As of Dec 31,				As of Jun 30,				As of Jun 30,
		Note		2025				2026				2026
				S$’000				S$’000				US$’000
				(Audited)				(Unaudited)				(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents					10,684				10,938				8,452
Accounts receivable, net					14,410				12,584				9,724
Contract assets					79				650				502
Inventories					15,761				6,728				5,199
Deposits, prepayments and other receivables					2,996				2,157				1,667
Total current assets					43,930				33,057				25,544
Non-current assets:
Property and equipment, net					33,137				35,807				27,670
Right-of-use assets					11				9				7
Other receivables					304				338				261
Total non-current assets					33,452				36,154				27,938
TOTAL ASSETS					77,382				69,211				53,482
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued liabilities					11,488				4,684				3,620
Amounts due to related parties					14,472				13,878				10,723
Bank borrowings					16,953				14,742				11,392
Lease liabilities					6,606				7,041				5,441
Income tax payable					993				1,038				802
Total current liabilities					50,512				41,383				31,978
Long-term liabilities:
Lease liabilities					7,558				6,759				5,223
Deferred tax liabilities					2,613				2,613				2,019
Total long-term liabilities					10,171				9,372				7,242
TOTAL LIABILITIES					60,683				50,755				39,220
Commitments and contingencies					–				–				–
Shareholders’ equity
Ordinary share, par value US$0.00025, 2,000,000,000 shares authorized, 2,940,451 ordinary shares issued and outstanding**					-*				5,778				4,465
Additional paid-in capital					5,778				–				–
Retained earnings					10,921				12,665				9,787
Accumulated other comprehensive income					-*				13				10
Total shareholders’ equity					16,699				18,456				14,262
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY					77,382				69,211				53,482

* – denotes amount less than $’000.
** – On April 13, 2026, the Company effected a 1-for-10 reverse share spilt, whereby every ten (10) issued and outstanding ordinary shares were consolidated into one (1) ordinary share, with a corresponding increase in par value from $0.000025 to $0.00025 per share. All share and per share information presented in these financial statements have been retrospectively adjusted, where applicable, to reflect this share consolidation. The consolidation did not affect total shareholders’ equity. On May 1, 2026, 16 ordinary shares were issued for no consideration to shareholders whose fractional shares were rounded up to the nearest whole share following the reverse share split.

TEN-LEAGUE INTERNATIONAL HOLDINGS LIMITED AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Amount in thousands, except for share and per share data, or otherwise noted)
				Six Months ended June 30,
		Note		2025				2026				2026
				S$’000				S$’000				US$’000
					(Unaudited)				(Unaudited)				(Unaudited)
Revenues, net					37,687				33,095				25,574
Cost of revenue					(28,840	)			(25,140	)			(19,427	)
Gross profit					8,847				7,955				6,147
Operating cost and expenses:
Selling and distribution					(306	)			(381	)			(294	)
General and administrative					(5,661	)			(5,223	)			(4,037	)
Total operating cost and expenses					(5,967	)			(5,604	)			(4,331	)
Profit from operations					2,880				2,351				1,816
Other income (expense):
(Loss)/Gain from disposal of plant and equipment					(30	)			1				1
Interest income					94				186				144
Interest expense					(430	)			(377	)			(291	)
Government grant					5				5				4
Exchange gain					251				–				–
Other income					204				87				67
Total other gain/(loss), net					94				(98	)			(75	)
Income before income taxes					2,974				2,253				1,741
Income tax expense					(591	)			(509	)			(393	)
NET INCOME					2,383				1,744				1,348
OTHER COMPREHENSIVE INCOME
Foreign currency translation adjustments					–				13				10
COMPREHENSIVE INCOME					2,383				1,757				1,358
Net income per share
Basic and diluted					0.86				0.59				0.46
Weighted average number of ordinary shares outstanding
Basic and diluted*					2,779,650				2,940,440				2,940,440

* – On April 13, 2026, the Company effected a 1-for-10 reverse share spilt, whereby every ten (10) issued and outstanding ordinary shares were consolidated into one (1) ordinary share, with a corresponding increase in par value from $0.000025 to $0.00025 per share. All share and per share information presented in these financial statements have been retrospectively adjusted, where applicable, to reflect this share consolidation. The consolidation did not affect total shareholders’ equity. On May 1, 2026, 16 ordinary shares were issued for no consideration to shareholders whose fractional shares were rounded up to the nearest whole share following the reverse share split.

TEN-LEAGUE INTERNATIONAL HOLDINGS LIMITED AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Amount in thousands, except for share and per share data, or otherwise noted)
		Six Months ended June 30,
		2025				2026				2026
		S$’000				S$’000				US$’000
		(Unaudited)				(Unaudited)				(Unaudited)
Cash flows from operating activities:
Net income			2,383				1,744				1,348
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property and equipment			2,241				2,614				2,020
Depreciation of right-of-use assets			594				2				2
Loss on disposal of property and equipment			30				–				–
Change in working capital:
Accounts receivable			1,582				2,525				1,951
Contract assets			(342	)			(571	)			(441	)
Inventories			2,791				10,991				8,493
Related parties			161				(594	)			(459	)
Accounts payable and accrued liabilities			122				(6,804	)			(5,258	)
Income tax payable			463				45				35
Net cash provided by operating activities			10,025				9,952				7,691
Cash flows from investing activities:
Proceeds from disposal of property and equipment			47				–				–
Repayment from finance lease receivables			371				436				337
Purchase of property and equipment			(236	)			(7,572	)			(5,851	)
Net cash provided by/(used in) investing activities			182				(7,136	)			(5,514	)
Cash flows from financing activities:
Proceeds of bank borrowings			679				1,484				1,147
Deferred IPO expenses			(923	)			–				–
Repayment of bank borrowings			(266	)			–				–
Principal repayment of lease liabilities			(4,622	)			(4,057	)			(3,135	)
Payment of deferred financing costs			(597	)			(2	)			(2	)
Net cash used in financing activities			(5,729	)			(2,575	)			(1,990	)
Effect on exchange rate change on balances held in foreign currency			–				13				9
Net change in cash and cash equivalent			4,478				254				196
BEGINNING OF PERIOD			686				10,684				8,256
END OF PERIOD			5,164				10,938				8,452
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for income taxes			127				464				359
Cash paid for interest			430				377				291
Cash received from finance lease receivable interest			(94	)			(185	)			(143	)
Operating lease asset obtained in exchange for operating lease obligations			–				–				–

Ranks #1 globally with lowest Mean Absolute Error on Visa, Application, and Mugshots datasets, strengthening its position in age assurance

Independent NIST results signal ROC’s progression from U.S. leader to global leader in facial age estimation

DENVER, CO, Sept. 30, 2026 (GLOBE NEWSWIRE) — Rank One Computing Corporation d/b/a ROC (Nasdaq: ROC) (“ROC” or the “Company”), a U.S. leader in Vision AI, building unified biometric, video analytics, and digital evidence solutions, today announced that its latest NIST submission achieved #1 global ranking in age estimation demonstrating accuracy across three primary datasets in the National Institute of Standards and Technology (“NIST”) Face Analysis Technology Evaluation for Age Estimation and Verification (“FATE AEV”). ROC also maintained its previously recognized #1 global position in the Child Online Safety evaluation for ages 13-16.

“ROC’s latest NIST achievement moves us from U.S. leader to ranking #1 globally across three primary age estimation datasets, while maintaining our leading position in Child Online Safety,” said ROC Chief Executive Officer B. Scott Swann. “These results provide important independent validation of our technology, which we believe strengthens ROC’s competitive position to grow across government and commercial customers seeking accurate, scalable, and cost-efficient age intelligence solutions.”

These results extend ROC’s leadership in age estimation, adding Visa and Application to its #1 rankings in Mugshots and Child Online Safety. For organizations evaluating identity and biometrics technology, NIST’s third-party measures offer an important benchmark for assessing performance across different operational environments and informing technology selection and procurement decisions.

ROC Chief Scientist and Co-Founder Dr. Brendan Klare, commented, “Six months ago, ROC landed the top spot among U.S. age estimation vendors in NIST FATE testing. Today, our ROC-003 algorithm ranks #1 globally in MAE on three of NIST’s four primary datasets. This progress reflects the skill and persistence of the team behind our algorithms as we continue to push the science forward.”

“Age estimation is ready to play a bigger role in age assurance. Our goal is to give organizations a precise, low friction signal they can use to shape an experience, apply protections, or determine when additional verification is needed. ROC’s latest NIST results demonstrate the accuracy this technology can achieve and its potential to support high-impact missions like child online safety,” added ROC Chief Operating Officer Blake Moore.

ROC’s latest algorithm submission, ROC-003, achieved the lowest Mean Absolute Error (“MAE”) across the Visa, Application and Mugshots datasets for adults ages 18–30, ranking first globally on three of the four primary datasets evaluated. Importantly, the lower the MAE, the greater the accuracy to the age estimate. These results expand ROC’s previously established leadership in age estimation and demonstrate continued improvements in algorithmic accuracy to confidently guide critical identification decisions.

NIST FATE is a government-run benchmarking program for face analysis tasks beyond recognition. For age estimation, the FATE Age Estimation & Verification (AEV) track is an ongoing evaluation of software algorithms that inspect face photos and produce an age estimate. NIST publishes results on accuracy and computational efficiency, and notes that facial age verification has been mandated in legislation in a number of jurisdictions, typically to protect minors. The AEV track is open to a worldwide community of developers under a standardized submission process.

Read ROC’s Blog Post and Full NIST Scores here.

About ROC

ROC is a leading U.S. developer and manufacturer of Vision AI, delivering sovereign biometrics, video analytics, and digital evidence through a unified platform. This enables agency and integrator partners to unlock faster, more accurate, and cost-efficient capabilities. At its core, ROC transforms raw pixels into real-time operational awareness for defense, public safety, and digital commerce. The Company is headquartered in Denver, Colo., with additional hubs in Grand Rapids, Mich., and Morgantown, W.Va. For more information, please visit the Company’s website: www.roc.ai.

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