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Arlo Technologies Schedules Second Quarter 2023 Results Conference Call

Arlo Technologies Schedules Second Quarter 2023 Results Conference Call

SAN JOSE, Calif.–(BUSINESS WIRE)–
Arlo Technologies, Inc. (NYSE: ARLO), a leading smart home security brand, today announced that it will hold a conference call with investors and analysts on Thursday, August 10, 2023, at 5:00 p.m. ET (2:00 p.m. PT) to discuss the Company’s second quarter 2023 results. The news release announcing the second quarter 2023 results will be disseminated on August 10, 2023, after the market closes.

The toll-free dial-in number for the live audio call beginning at 5:00 p.m. ET (2:00 p.m. PT) on August 10, 2023, is (888) 660-6387. The international dial-in number for the live audio call is (929) 203-1909. The conference ID for the call is 7749064. A live webcast of the conference call will be available on Arlo’s Investor Relations website at http://investor.arlo.com. A replay of the call will be available via the web at http://investor.arlo.com.

About Arlo Technologies, Inc.

Arlo is an award-winning, industry leader that is transforming the ways in which people can protect everything that matters to them with advanced home, business and personal security solutions. Arlo’s deep expertise in AI- and CV-powered analytics, cloud services, user experience and product design, and innovative wireless and RF connectivity enables delivery of a seamless, smart security experience for Arlo users that is easy to set up and interact with every day. Arlo’s cloud-based platform provides users with visibility, insight, and a powerful means to help protect and connect in real-time with the people and things that matter most, from any location with a Wi-Fi or a cellular connection. To date, Arlo has launched several categories of award-winning connected devices, software, and services. These include wire-free, smart Wi-Fi and LTE-enabled security cameras, video doorbells, floodlights, security system, and Arlo ‘s subscription services: Arlo Secure and Arlo Safe.

With a mission to bring users peace of mind, Arlo is as passionate about protecting user privacy as it is about safeguarding homes and families. Arlo is committed to implementing industry standards for data protection designed to keep users’ personal information private and in their control. Arlo does not monetize personal data, provides enhanced controls for user data, supports privacy legislation, keeps user data safely secure, and puts security at the forefront of company culture.

© 2023 Arlo Technologies, Inc., Arlo, and the Arlo logo are trademarks and/or registered trademarks of Arlo Technologies, Inc. and/or certain of its affiliates in the United States and/or other countries. Other brand and product names are for identification purposes only and may be trademarks or registered trademarks of their respective holder(s). The information contained herein is subject to change without notice. Arlo shall not be liable for technical or editorial errors or omissions contained herein. All rights reserved.

Source: Arlo-F

Media Relations:

[email protected]

949-438-1088

Investors:

Arlo Investor Relations

Erik Bylin

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Technology Mobile/Wireless Security Home Goods Retail IOT (Internet of Things) Data Management Artificial Intelligence Consumer Electronics

MEDIA:

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Sabra Publishes Third Annual Sustainability Report

Sabra Publishes Third Annual Sustainability Report

IRVINE, Calif.–(BUSINESS WIRE)–
Sabra Health Care REIT, Inc. (“Sabra,” or “we”) (Nasdaq: SBRA) today released its third annual Sustainability Report.

The report showcases our programs, policies and initiatives that support our environmental, social and governance (ESG) priorities of environmental stewardship; diversity, equity and inclusion; human capital management; protection of health, wellness and safety of our stakeholders; engagement and collaboration with our operators and tenants; cybersecurity; corporate governance; and community service. These ESG principles are intrinsically tied to our objective to drive shareholder value by operating efficiently, sustainably and with our stakeholders’—investors, tenants, teammates and the communities in which we invest—best interests in mind.

“It was a year of forward leaps to advance our ESG framework and E-Initiative Roadmap, both in scope and transparency,” said Rick Matros, Sabra’s Chief Executive Officer, President and Chair of the Board. “The investments we’ve made in our properties, people and tenants will improve the lives of the residents and working environments for our teammates and the staff of the facilities that we own. Supporting our operators remains a major focus, and with the launch of our Green Links Fund, we are working collaboratively with our NNN tenants to track and report their energy and water efficiency improvements as well as fund initiatives at their properties.”

Key accomplishments include:

  • Established robust ESG utility collection and data repository, including over 238 properties across more than 25 managed and NNN operators, while expanding integrated climate risk ratings and scenario analysis in originations and asset management.

  • Launched an initial $5M Green Links Fund designed to provide our NNN tenants access to capital to fund energy and water efficiency initiatives.

  • Upheld our commitment to diversity, equity and inclusion, including providing a collaborative culture and workplace, competitive compensation and supporting work-life balance for our team.

  • Initiated and co-sponsored WISE Forum event to bring like-minded healthcare REITs and solution providers together to collaboratively address critical industry issues, including ESG-related property and medical technologies that could further bolster tenants’ health and wellness objectives.

Sabra remains committed to furthering our ESG efforts to promote safer and healthier environments for our teammates and residents and to improve outcomes and patient experience.

Sabra’s 2022 Sustainability Report is available on the company’s website.

Sabrahealth.com/about/esg

About Sabra

Sabra Health Care REIT, Inc., a Maryland corporation, operates as a self-administered, self-managed real estate investment trust (a “REIT”) that, through its subsidiaries, owns and invests in real estate serving the healthcare industry throughout the United States and Canada.

Forward-Looking Statements Safe Harbor

This release contains “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995. Any statements that do not relate to historical or current facts or matters are forward-looking statements. These statements may be identified, without limitation, by the use of “expects,” “believes,” “intends,” “should” or comparable terms or the negative thereof. Examples of forward-looking statements include all statements regarding the expected results of our investments in our properties, people and tenants.

Our actual results may differ materially from those projected or contemplated by our forward-looking statements as a result of various factors, including, among others, the risks and uncertainties found in our filings with the Securities and Exchange Commission, including in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2022. We do not intend, and we undertake no obligation, to update any forward-looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, unless required by law to do so.

Investor & Media Inquiries: 1-888-393-8248 or [email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: General Health Professional Services Sustainability Residential Building & Real Estate Commercial Building & Real Estate Environment Construction & Property DEI (Diversity, Equity and Inclusion) Nursing REIT Environmental, Social and Governance (ESG) Health

MEDIA:

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Digital Transformation Opportunities Corp. Further Extends Timing of Initial Business Combination

Digital Transformation Opportunities Corp. Further Extends Timing of Initial Business Combination

LOS ANGELES–(BUSINESS WIRE)–
Digital Transformation Opportunities Corp. (Nasdaq: DTOCU) (the “Company” or “DTOC”) today announced that, on July 24, 2023, it had received notice from Digital Transformation Sponsor LLC (the “Sponsor”) of its intention to further extend the period of time by which the Company must complete its initial business combination with American Oncology Network, LLC (“AON”) from July 31, 2023 to August 31, 2023. The Company also announced that, on July 24, 2023, in accordance with the Company’s certificate of incorporation, the Sponsor had timely deposited into the trust account an aggregate of $50,000 in order to effect such extension.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements. Forward-looking statements generally relate to future events including future financial or operating performance of DTOC or AON. For example, projections of future revenue and other metrics are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements.

These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by DTOC and its management, and AON and its management, as the case may be, are inherently uncertain and are inherently subject to risks, variability and contingencies, many of which are beyond DTOC’s and AON’s control. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) DTOC’s ability to complete the business combination and to raise additional capital; (2) the outcome of any legal proceedings that may be instituted against DTOC, the combined company or others following the announcement of the business combination and any definitive agreements with respect thereto; (3) the inability to complete the business combination due to the failure to obtain approval of the stockholders of DTOC or to satisfy other conditions to closing; (4) the amount of redemption requests made by DTOC’s public stockholders; (5) changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the business combination; (6) the ability to meet stock exchange listing standards following the consummation of the business combination; (7) the risk that the business combination disrupts current plans and operations of AON as a result of the announcement and consummation of the business combination; (8) the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain key relationships and retain its management and key employees; (9) costs related to the business combination; (10) changes in applicable laws or regulations; (11) the possibility that AON or the combined company may be adversely affected by other economic, business, and/or competitive factors; (12) AON’s estimates of expenses and profitability; (13) the failure to realize anticipated pro forma results or projections and underlying assumptions; and (14) other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in DTOC’s Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on March 31, 2023 and DTOC’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 filed with the SEC on May 15, 2023, in the registration statement on Form S-4 relating to the business combination filed with the SEC (the “Registration Statement”), and in subsequent filings with the SEC. DTOC and AON caution that the foregoing list of factors is not exclusive or exhaustive and investors should not place undue reliance upon any forward-looking statements, which speak only as of the date made. If any of these risks materialize or DTOC’s or AON’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither DTOC nor AON presently know or that DTOC and AON currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect DTOC’s and AON’s expectations, plans or forecasts of future events and views as of the date of this communication. DTOC and AON anticipate that subsequent events and developments will cause DTOC’s and AON’s assessments to change. However, while DTOC may elect to update these forward-looking statements at some point in the future, DTOC and AON specifically disclaim any obligation to do so, unless required by applicable law. These forward-looking statements should not be relied upon as representing DTOC’s or AON’s assessments as of any date subsequent to the date of this communication. Neither DTOC nor AON gives any assurance that AON or DTOC will achieve its expectations. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Additional Information about the Proposed Business Combination and Where to Find It

In connection with the proposed business combination, DTOC has filed with the SEC the Registration Statement, including a proxy statement for DTOC’s solicitation of proxies for the vote by DTOC stockholders with respect to the business combination and a prospectus for the exchange offer described therein (the “Exchange Offer”). Promptly after the Registration Statement is declared effective, the proxy statement will be mailed to DTOC stockholders as of a record date to be established for voting on the business combination. DTOC STOCKHOLDERS, AON UNITHOLDERS AND OTHER INTERESTED PERSONS ARE ADVISED TO READ THE PROXY STATEMENT, PROSPECTUS AND OTHER DOCUMENTS FILED OR WILL BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED BUSINESS COMBINATION AND THE PROPOSED EXCHANGE OFFER, AS THESE MATERIALS WILL CONTAIN IMPORTANT INFORMATION ABOUT DTOC, AON, THE PROPOSED BUSINESS COMBINATION AND THE PROPOSED EXCHANGE OFFER. This press release does not contain all the information that should be considered concerning the proposed business combination and the proposed Exchange Offer and is not intended to form the basis of any investment decision or any other decision in respect of the business combination and the proposed Exchange Offer. When available, the proxy statement and other relevant materials for the proposed business combination will be mailed to stockholders of DTOC as of a record date to be established for voting on the proposed business combination. Investors and security holders will be able to obtain free copies of documents filed by DTOC with the SEC, through the website maintained by the SEC at www.sec.gov.

Participants in the Solicitation

DTOC and its directors and executive officers may be deemed participants in the solicitation of proxies from DTOC’s stockholders with respect to the proposed business combination. A list of the names of those directors and executive officers and a description of their interests in DTOC is contained in DTOC’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, which was filed with the SEC on March 31, 2023. These documents may be obtained free of charge from the SEC’s website. Additional information regarding the interests of such participants will be contained in the proxy statement/prospectus for the proposed business combination and the proposed Exchange Offer.

AON and its directors and executive officers may also be deemed to be participants in the solicitation of proxies from the stockholders of DTOC in connection with the proposed business combination. A list of the names of such directors and executive officers and information regarding their interests in the proposed business combination can be found in the proxy statement/prospectus for the proposed business combination and the proposed Exchange Offer.

No Offer or Solicitation

This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the business combination or the Exchange Offer. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act or an exemption therefrom.

Kyle Francis, Chief Financial Officer

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Professional Services Health Oncology Finance

MEDIA:

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Lytus Technologies enters Fintech space with the launch of a new payment gateway in India

~Will invest 50 million dollars to expand their fintech service in India over the next 5 years~

Mumbai | New York, July 24, 2023 (GLOBE NEWSWIRE) —  Nasdaq-listed Lytus Technologies Holdings PTV. Ltd. (the “Company”) (NASDAQ: LYT), a leading global technology-driven services company, has announced the launch of its payments gateway for Indian consumers. This marks the entry of Lytus Technologies into the Indian fintech market through the introduction of its payments gateway offerings to businesses in the Indian cable and broadband sector.

Lytus Technologies entered the Indian market with its Telecast & Multicast and broadband services and recently acquired a 51% stake in Sri Sai Cable and Broadband Private Limited in Telangana, India. With the strategic aim of expanding its footprint in India by offering diverse services to Indian consumers, the launch of the payment gateway will provide an additional boost to the company in the market. Initially, Lytus consumers using IPTV and broadband services will enjoy the convenience of the new payment gateway, facilitating their transactions.

The Indian Fintech market is currently the second largest market in the world by deal volume. It is expected to grow to USD 2.1 Tn by 2030 at a CAGR of more than 18%. With a fintech adoption rate of 87% against the global average of 64%, India is one of the fastest growing fintech markets in the world. The Indian fintech industry has experienced exponential growth over the past few years, supported by the Indian government’s initiatives to promote the digitization of financial systems and a cashless economy. This effort has successfully shifted consumer focus toward digital alternatives for financial transactions and services. The rise of digital commerce, along with innovations in payment technology using AI, blockchain, the Internet of Things (IoT), and the introduction of mobile point-of-sale (POS) devices, has significantly contributed to the tremendous success of the fintech industry in India.

According to Shreyas Shah, CFO of Lytus Technologies, “Lytus’s unique business model is particularly suited to expand its fintech services offering to its nationwide base of nearly 4 million users. The company intends to invest 50 million dollars to expand its fintech business in India over the next five years. While the initial rollout is focused on a B2B model, it plans to extend services to its individual subscribers within the next 12 months. Lytus’ fintech products will be initially available to customers in metro cities, and the company will also focus on offering its fintech services to businesses and individuals in rural parts of India to bridge the gap that currently exists in the traditional banking sector.”

Huzaefa Lokhandwala, CEO of Lytus Fintech, anticipates that, “Over the course of the next several months, Lytus intends to expand the scope of its fintech services to include AI-driven next-generation payment platforms, P2P lending, blockchain, insurtech, digital shareholder services, cross-border payments, among other services. Lytus also plans to offer its subscribers e-wallet and credit card services using AI-based technology for personalized financial insights. Users will be able to set spending goals based on their priorities, earn rewards, and leverage the features to develop good financial habits and achieve their long-term goals.”

Lytus Technologies’ entry into the Indian fintech market with its innovative payments gateway marks an exciting milestone in the company’s growth journey. With its strategic expansion plans, including the intention to offer an array of AI-driven financial services and personalized solutions, Lytus aims to cater to the evolving needs of Indian consumers and businesses alike. As India’s fintech landscape continues to thrive, Lytus Technologies’ commitment to bridging the digital divide between urban and rural areas and providing cutting-edge fintech solutions is set to contribute significantly to the country’s vibrant financial ecosystem.

About Lytus Technologies Holdings Pvt Ltd:

Lytus Technologies is a rapidly expanding technology-driven internet platform services organisation with operations in India and USA. The company offers high-value streaming and telemedicine services to over 4 million active users and monthly customers across India and USA. Lytus Technologies is a listed company under the ticker symbol “LYT” on the Nasdaq Capital Market. The firm is one of India’s fastest-growing online content and streaming service providers. Through its 5,000-kilometer network of installed fibre and broadband infrastructure, the firm delivers fibre and broadband services to its client base. Currently, Lytus Technologies has nationwide Telecast & Multicast services in India providing retail and commercial customers monthly subscription-based linear video and Internet services. 

For media queries:

Gautam Gupte
[email protected]
+91 9637 100 875



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First Full Spectrum 5G Hospital at VA Palo Alto Health Care System Will Empower Unprecedented Care for Veterans

  • 5G systems deployed by Verizon utilize all three 5G frequency bands
  • Delivers service indoors and outdoors
  • Providing next generation, campus-wide, full-spectrum, hybrid commercial and private 5G environment

WASHINGTON, July 24, 2023 (GLOBE NEWSWIRE) — Verizon Business, in partnership with the VA Palo Alto Health Care System, today announced the deployment of a full spectrum private 5G network.

This announcement is a continuation of the broader partnership between the United States Department of Veteran Affairs (VA) and Verizon Business that started in 2020 with the announcement of VA Palo Alto Health Care System as VA’s first 5G-enabled healthcare facility.

The public-private partnership, Project Convergence, is led by VA’s National Center for Collaborative Health Care Innovation and works to identify and develop clinical uses for technology that transforms Veteran care with 5G capabilities.

The new network enables advanced clinical capabilities, such as AR-assisted presurgical guidance with virtual 3D X-ray vision with the incorporation of CT and MRI scans; VR-assisted medical learning which clinicians can interact with and walk into 3D models of human organs; holographic teleportation enhancing clinical interactions at a distance; and digital twin for cutting edge safety and security.

This newest deployment of Verizon private 5G and private 5G MEC infrastructure was preceded by commercial in-building 5G systems spanning the entire facility. These in-building systems are integrated with Verizon 5G rooftop macro sites at VA Palo Alto that provide 5G services to the exterior of the campus.

Combined, these 5G systems utilize all three 5G frequency bands servicing the VA Palo Alto campus to deliver a next generation, campus-wide, full-spectrum, hybrid commercial and private 5G environment that will expand the 5G capabilities.

“Our goal is to provide the best and most advanced healthcare for our Veterans,” said Thomas Osborne, M.D., director of the Veterans Health Administration’s National Center for Collaborative Healthcare Innovation (NCCHI) and Executive Director for the VA Convergence Center (VC2) at the VA Palo Alto Health Care System. “The capabilities and solutions we are deploying are designed to dramatically improve patient outcomes, and in doing so, will revolutionize care for our Veterans and around the world. 5G solutions enhance our current capabilities while giving us new opportunities to be forward-thinking with pioneering tools.”

The 5G technology deployed will deliver exponentially greater bandwidth, providing VA Palo Alto with the ability to unlock the potential of complex medical data. The system’s cloud-based servers on the edge, in combination with advanced analytics such as AI-powered clinical decision support tools can support physicians to make real-time, data-informed decisions about the best course of care.

“The work VA Palo Alto Health Care System is doing is a shining example of what the partnership between the VA and Verizon makes possible,” said Kyle Malady, Verizon Business CEO. “Data is always important, but it’s critical in healthcare settings. The speed and low latency of Verizon’s 5G technology releases data, which in turn delivers unprecedented capabilities, reduces costs, and improves efficiencies so that the medical center can focus on clinical care and healthcare outcomes.”

“There is a lot of unrealized potential in healthcare data,” Osborne continued. “5G capabilities help us efficiently turn data into information, information into knowledge, and knowledge into wisdom, which in turn promotes optimal outcomes at the largest integrated healthcare system in the US.”

This is the latest development in a longstanding partnership between Verizon Public Sector and the Department of Veteran Affairs. Last month, Verizon Public Sector announced a 9-year expansion of its partnership with the VA, worth $448.3 M, through which the network provider will supply mobile devices and mission-critical communications systems.

The views and opinions of authors expressed herein do not necessarily state or reflect those of the Department of Veterans Affairs or the United States Government and shall not be used for advertising or product endorsement purposes. Reference herein to any specific commercial products, process, or service by trade name, trademark, manufacturer, or otherwise, does not necessarily constitute or imply its endorsement, recommendation, or favoring by the United States Government.

Media Contact:

Geoffrey Basye
202-748-1882
[email protected]



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HighPeak Energy, Inc. Declares Quarterly Cash Dividend

FORT WORTH, Texas, July 24, 2023 (GLOBE NEWSWIRE) — HighPeak Energy, Inc. (“HighPeak” or the “Company”) (NASDAQ: HPK) today announced that, on July 21, 2023, its Board of Directors declared a quarterly dividend of $0.025 per share of common stock outstanding. The dividend will be paid August 25, 2023 to stockholders of record as of the close of business on August 8, 2023.

About HighPeak Energy, Inc.

HighPeak Energy, Inc. is a publicly traded independent oil and natural gas company, headquartered in Fort Worth, Texas, focused on the acquisition, development, exploration and exploitation of unconventional oil and natural gas reserves in the Midland Basin in West Texas. For more information, please visit our website at www.highpeakenergy.com.

Investor Contact:

Ryan Hightower
Vice President, Business Development
817.850.9204
[email protected] 

Source: HighPeak Energy, Inc.



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Williams Industrial Services Group Inc. Enters into Purchase Agreement for the Sale of Business for $60 million and Files for Chapter 11 Protection

Williams Industrial Services Group Inc. Enters into Purchase Agreement for the Sale of Business for $60 million and Files for Chapter 11 Protection

Receives Commitment from Existing Secured Lenders for up to $19.5 Million in Debtor-in-Possession Financing

ATLANTA–(BUSINESS WIRE)–
Williams Industrial Services Group Inc. (NYSE American: WLMS) (the “Company”), a leading provider of infrastructure related services to blue-chip customers in energy and industrial end markets, including a broad range of construction maintenance, modification, and support services, announced today that it and certain of its subsidiaries have filed voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) and agreed to sell substantially all of the Company and its subsidiaries assets to EnergySolutions for $60 million.

The Transaction

The Company and EnergySolutions, a global provider of energy and industrial services headquartered in Salt Lake City, UT, have entered into a purchase agreement pursuant to which EnergySolutions will acquire substantially all the assets and assume certain ordinary course operating liabilities of the Company and its subsidiaries for $60 million. These assets represent the Company’s nuclear, fossil, energy delivery, and paper mill operations, which have continued to perform profitably and have strong prospects for future growth. EnergySolutions is not acquiring the Company’s operations connected to its water contracts in Florida and Texas.

Tracy Pagliara, President and CEO of the Company, stated: “Having carefully reviewed all available options, our comprehensive strategic alternatives process has concluded. I am confident that EnergySolutions will be a great owner for the Williams business it is acquiring as we stand on the precipice of a global nuclear renaissance and significant growth in energy and industrial infrastructure services. EnergySolutions is well capitalized and positioned to ensure that Williams’ rich history of being a customer-centric services provider will continue. Obviously, the Chapter 11 filing is not the outcome we would have wanted for our stockholders or the stakeholders of our water business, but this difficult decision was necessary to deliver the primary and profitable parts of the Williams business to EnergySolutions as a going concern.”

Ken Robuck, President and CEO of EnergySolutions, added, “We are very excited to announce this transaction. This is a strategic move that will allow EnergySolutions to expand our nuclear services offerings to existing nuclear operating plants and, ultimately, to support the nuclear industry’s drive to create more clean, carbon-free energy through nuclear plant life extension work and the construction of new technologies. We understand that Williams has been through a difficult time, but we are confident that this acquisition will be a positive for the Williams’ businesses we are acquiring. These businesses will gain access to our resources and expertise, and we will gain access to their talented team and proven track record in successfully executing nuclear plant maintenance, modifications and new construction projects. Combined with our nuclear waste, decommissioning and onsite integrated services, this acquisition will nicely complement our existing business lines and provide an excellent platform for future growth and expansion into other sectors of the nuclear industry.”

DIP Financing

In order to provide necessary funding during the Chapter 11 proceeding, the Company has received commitments for two debtor-in-possession (“DIP”) financing credit agreements with its prepetition lenders. Upon approval by the Bankruptcy Court, the DIP financing agreements are expected to provide the Company with the necessary liquidity to permit the businesses that will be disposed of to operate in the normal course and meet their obligations to their employees, vendors and customers throughout the Chapter 11 proceeding while executing on the sale process of the businesses for which EnergySolutions is the “stalking horse” bidder.

One of the Company’s DIP facilities will be a revolving line of credit (“RLOC”) which will replace the Company’s prepetition RLOC, allowing for continued credit advances based on the Company’s collateral contributions up to a maximum availability of $12 million. The second facility is a delayed draw term loan (“DDTL”) with the Company’s existing term lenders which will provide up to $19.5 million of incremental liquidity following the petition filing.

Chapter 11 Process

The transaction with EnergySolutions is part of a sale process under Section 363 of the Bankruptcy Code in which EnergySolutions is the “stalking horse” bidder, meaning that the purchase agreement between the Company and EnergySolutions contains the terms against which competing offers will be solicited and evaluated during a Chapter 11 auction process. The Company is seeking Bankruptcy Court approval of bidding procedures allowing for the submission of higher or otherwise better offers, and is seeking to consummate a sale by September 30, 2023, subject to Bankruptcy Court approval. The Company will manage the bidding process and evaluate any bids received, in consultation with its advisors and otherwise in accordance with the bidding procedures and oversight by the Bankruptcy Court.

Under the purchase agreement,EnergySolutions will not acquire the Company’s operations connected to its water contracts in Florida and Texas. The Company is not currently projecting any return for its stockholders or for certain creditors of the retained water business.

Background to the Chapter 11 Filing and Sale Transaction

The factors that precipitated the Company’s Chapter 11 filing and sale process included: the loss of customer contracts in early 2022 that comprised 19% and 20% of the Company’s annual revenue and gross profit, respectively, in 2021 and the accompanying loss of $361 million in backlog for 2022 and later years; more than $15 million of operating losses associated with the Company’s water operations from 2021 through 2023 year to date; approximately $8 million of start-up costs and operating losses related to the Company’s entry into the transmission and distribution market from early 2021 through the first quarter of 2023; and the inability of the Company to convert enough pipeline into revenue and to cut enough costs to overcome these losses and corresponding liquidity challenges.

As previously announced, the Company undertook actions to improve the performance of its business, including an aggressive move to trim operating expenses, the implementation of a plan to shorten collection times on accounts receivable, and an attempt to expand into the transmission and distribution market. However, those moves were insufficient to position the business for profitability.

Williams Industrial Services Group is advised by Thompson Hine LLP and Chipman Brown Cicero & Cole, LLP as its legal advisors, G2 Capital Advisors, LLC as its financial advisor, and Greenhill & Co., LLC as its investment banker.

EnergySolutions is advised by Ropes & Gray LLP as its legal advisors.

For additional information about the cases please visit https://dm.epiq11.com/WilliamsIndustrialServicesGroup.

About Williams

Williams Industrial Services Group has been safely helping plant owners and operators enhance asset value for more than 50 years. The Company is a leading provider of infrastructure related services to blue-chip customers in energy and industrial end markets, including a broad range of construction maintenance, modification, and support services. Williams’ mission is to be the preferred provider of construction, maintenance, and specialty services through commitment to superior safety performance, focus on innovation, and dedication to delivering unsurpassed value to its customers.

Additional information about Williams can be found on its website: www.wisgrp.com.

About EnergySolutions

EnergySolutions offers customers a full range of integrated services and solutions, including nuclear operations, characterization, decommissioning, decontamination, site closure, transportation, nuclear materials management, processing, recycling, and disposition of nuclear waste, and research and engineering services across the nuclear fuel cycle. For additional information about EnergySolutions visit www.energysolutions.com or contact Mark Walker at [email protected] or 801-231-9194.

Forward-looking Statement Disclaimer

This press release contains “forward-looking statements” within the meaning of the term set forth in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally use forward-looking words, such as “may,” “will,” “could,” “should,” “would,” “project,” “believe,” “anticipate,” “expect,” “estimate,” “continue,” “potential,” “plan,” “forecast” and other words that convey the uncertainty of future events or outcomes. These forward-looking statements are not guarantees of the Company’s future performance and involve risks, uncertainties, estimates and assumptions that are difficult to predict and may be outside of the Company’s control. Therefore, the Company’s actual outcomes and results may differ materially from those expressed in or contemplated by the forward-looking statements. Forward-looking statements include, but are not limited to, information concerning the following: expectations regarding risks attendant to the Chapter 11 bankruptcy process, including the Company’s ability to obtain court approval from the Bankruptcy Court with respect to motions or other requests made to the Bankruptcy Court throughout the course of the Chapter 11 process, including with respect to the asset sale and DIP credit agreements; the Company’s plans to sell certain assets pursuant to Chapter 11 of the U.S. Bankruptcy Code, the outcome and timing of such sale, and the Company’s ability to satisfy closing and other conditions to such sale; the effects of Chapter 11, including increased legal and other professional costs necessary to execute the Company’s wind down, on the Company’s liquidity and results of operations (including the availability of operating capital during the pendency of Chapter 11); the length of time that the Company will operate under Chapter 11 protection and the continued availability of operating capital during the pendency of Chapter 11; the Company’s ability to continue funding operations through the Chapter 11 bankruptcy process, and the possibility that it may be unable to obtain any additional funding as needed; the Company’s ability to meet its financial obligations during the Chapter 11 process and to maintain contracts that are critical to its operations; the Company’s ability to comply with the restrictions imposed by the terms and conditions of the DIP credit agreements and other financing arrangements; objections to the Company’s wind down process, the DIP credit agreements, or other pleadings filed that could protract Chapter 11; the effects of Chapter 11 on the interests of various constituents and financial stakeholders; the effect of the Chapter 11 filings and any potential asset sale on the Company’s relationships with vendors, regulatory authorities, employees and other third parties; possible proceedings that may be brought by third parties in connection with the Chapter 11 process or the potential asset sale and risks associated with third-party motions in Chapter 11; the timing or amount of any distributions, if any, to the Company’s stakeholders; expectations regarding future performance of assets expected to be sold in the bankruptcy process; employee attrition and the Company’s ability to retain senior management and other key personnel due to the distractions and uncertainties; the impact and timing of any cost-savings measures and related local law requirements in various jurisdictions; the impact of litigation and regulatory proceedings; expectations regarding financial performance, strategic and operational plans, and other related matters; and other factors discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” section of the Annual Report on Form 10-K for its 2022 fiscal year. Any forward-looking statement speaks only as of the date of this press release. Except as may be required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, and you are cautioned not to rely upon them unduly.

Brenda Adrian, of Sitrick and Company, at [email protected], or Rich Wilner at [email protected]

KEYWORDS: United States North America Utah Georgia

INDUSTRY KEYWORDS: Other Manufacturing Commercial Building & Real Estate Construction & Property Urban Planning HVAC Oil/Gas Building Systems Manufacturing Energy Nuclear

MEDIA:

Posted on

Live Ventures Acquires Precision Metal Works, Adding $75 Million Annual Revenue Stream

  • Acquisition is expected to be immediately accretive to earnings
  • Strengthens steel manufacturing segment reinforcing strategic approach

LAS VEGAS, July 24, 2023 (GLOBE NEWSWIRE) —  Live Ventures Incorporated (Nasdaq: LIVE), a diversified holding company (“Live Ventures” or “Company”), announced today that it has acquired Precision Metal Works, Inc. (“PMW”), a Kentucky-based Metal Stamping and Value-Added Manufacturing Company. PMW was acquired for a total consideration of approximately $28 million, comprised of $25 million cash, with additional consideration of up to $3 million paid in the form of an earn-out. The acquisition involved no issuance of stock of Live Ventures. The Company believes the acquisition will be immediately accretive to earnings.

Founded nearly 76 years ago in 1947, Louisville, Kentucky-based Precision Metal Works manufactures and supplies highly engineered parts and components across 400,000 square feet of manufacturing space in Kentucky. It offers world-class metal forming, assembly, and finishing solutions across diverse industries, including appliance, automotive, hardware, electrical, electronic, medical products, and devices.

“PMW aligns wonderfully with our existing steel manufacturing operations and our long-term ‘buy-build-hold’ strategy. We expect not only increased demand due to manufacturers onshoring operations to the United States, but also synergies across our steel segment. We welcome all 250 employees to the Live Ventures family,” said Jon Isaac, President and CEO of Live Ventures.

“We are a high-tech manufacturer that firmly believes America makes the best products in the world. Our metal forming technologies and cutting-edge processes are second to none, and we look forward to becoming part of the Live Ventures team,” said Richard Stanley, PMW’s President and CEO. “PMW is strategically positioned for ongoing expansion, thanks to substantial investments in top-of-the-line equipment, exceptional management, and strong customer and supplier relationships. By joining forces with Live Ventures, we gain access to growth capital that will propel our business forward in the rapidly growing electric vehicle market, as well as our other target markets. Together, we are poised for even greater achievements.”

“We will adopt the same values at PMW as we have in our other steel subsidiaries. We pride ourselves on being an excellent partner for our customers and suppliers, as well as an excellent place to work for our employees. We are committed to exceeding the expectations of our customers with quality products that are on time every time,” said Thomas R. Sedlak, CEO of Precision Marshall, a Live Ventures company.

As part of the acquisition, Live Ventures will retain PMW’s existing management team and all its employees.
Invision Capital Advisors, LLC and Focus Capital Advisors, Inc. acted as the financial advisers to PMW.

Live Ventures Incorporated

Live Ventures is a diversified holding company with a strategic focus on value-oriented acquisitions of domestic middle-market companies. Live Ventures’ acquisition strategy is sector agnostic and focuses on well-run, closely held businesses with a demonstrated track record of earnings growth and cash flow generation. The Company looks for opportunities to partner with management teams of its acquired businesses to build increased stockholder value through a disciplined buy-build-hold long-term focused strategy. Live Ventures was founded in 1968. In late 2011 Jon Isaac, CEO and strategic investor, joined the Board of Directors and later refocused it into a diversified holding company. The Company’s current portfolio of diversified operating subsidiaries includes companies in the textile, flooring, tools, steel, and entertainment industries.

Forward-Looking and Cautionary Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, each as amended, that are intended to be covered by the “safe harbor” created by those sections. In accordance with such safe harbor provisions, statements contained herein that look forward in time that include everything other than historical information, involve risks and uncertainties that may affect the Company’s actual results, including statements relating to accretion to earnings, expansion of products and services, alignment with existing operations and our ‘buy-build-hold’ strategy, demand for products and services, access to growth capital, and increase in the Company’s total revenues. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar statements. Live Ventures may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on Forms 10-K and 10-Q, Current Reports on Form 8-K, in its annual report to stockholders, in press releases and other written materials, and in oral statements made by its officers, directors or employees to third parties. There can be no assurance that such statements will prove to be accurate, and there are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company, including, but not limited to, plans and objectives of management for future operations or products, the market acceptance or future success of our products, and our future financial performance. The Company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2022 (available at http://www.sec.gov). Live Ventures undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise.

Contact:

Live Ventures Incorporated
Greg Powell, Director of Investor Relations
725.500.5597
[email protected]
www.liveventures.com

Source: Live Ventures Incorporated



Posted on

Vislink Unveils LinkMatrix Integration on Amazon Web Services (AWS), Transforming Remote Live Production Workflows

Latest
Technological Development
Enhances User Experience
of Cloud
–
Based Remote Management Platform,
Empowers Broadcast Teams
and Public Safety Agencies
with Unprecedented
Control and
Insights

Mt. Olive, NJ, July 24, 2023 (GLOBE NEWSWIRE) —


Vislink Technologies, Inc.


(“Vislink” or the “Company”) (N
ASDAQ
: VISL), a global technology leader in the capture, delivery and management of high quality, live video and associated data in the media and entertainment, law enforcement, and defense markets, today announced the availability of its LinkMatrix remote control management platform on Amazon Web Services (AWS). LinkMatrix allows for comprehensive management of its live broadcast devices. The integration with AWS provides users enhanced control, flexibility and speed, elevating production workflows and promoting innovation in live broadcasts and performance in the field.

By integrating with AWS, LinkMatrix brings several benefits to its users. Leveraging advanced cloud technologies, LinkMatrix ensures optimal performance and scalability. It offers seamless deployment across various cloud environments, giving customers the flexibility to choose their preferred cloud provider. Autoscaling capabilities dynamically allocate resources as needed, ensuring efficient performance even with changing workloads. Additionally, integration with AWS’s Relational Database Service (RDS) provides a scalable database solution for storing and retrieving video-related data.

LinkMatrix users, particularly law enforcement agencies, can also access security and policing applications through the secure AWS GovCloud platform, enhancing their operational capabilities. Moreover, this integration allows for real-time collaboration, editing, and broadcasting directly from the cloud, eliminating the need for additional hardware or complex setups.

In conjunction with the AWS integration, all Vislink server products are now available as virtual services. This virtualized infrastructure enables reliable and secure video streaming and synchronization with other cloud production platforms. Notably, LinkSwitch, Vislink’s powerful debonding server, in combination with AWS, enables customers to stream high-quality video closer to the event. This capability is particularly beneficial for US military and government customers who can leverage secure AWS GovCloud regions for their video streaming needs.

“LinkMatrix has made significant strides by being fully compatible with Amazon Web Services,” said Mickey Miller, CEO of Vislink. “With the power and scale of AWS, LinkMatrix empowers live production teams and public safety agencies, allowing them to gain valuable insights and optimize their workflows. The AWS integration aligns with our ongoing initiative to drive more software and services recurring revenue while fostering growth, innovation, and operational efficiency for our customers.”

These advancements not only enhance the overall performance of Vislink’s platform but also pave the way for seamless integration of new features and functionalities in the future. Vislink remains committed to driving growth and innovation while optimizing operations for its customers.

About LinkMatrix

Accessible through a user-friendly, web-based interface, LinkMatrix provides a comprehensive all-IP workflow system for managing all devices in the field and at the receiving location. It enables remote operation and management of all Vislink COFDM and 5G equipment, including Mobile Viewpoint (MVP) bonded cellular encoders, Playout decoders, the Vislink Quantum receiver and the MVP IQ Sports Producer platform. With LinkMatrix, broadcasters gain full control over individual encoders, select receivers, live stream video proxies, encoder management, record-and-go capabilities, video return setups, network analysis, remote troubleshooting, configurations, and diagnostics. Vislink’s remote management platform provides flexible options for creating scheduled or ad-hoc links and configurations, empowering broadcasters to adapt to dynamic production requirements with ease.

Note on Forward-looking Statements

Certain statements in this press release are forward-looking statements that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. This press release contains forward-looking statements that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact included in this press release, including those regarding the Company’s strategy, future operations, future revenues, growth, profitability results and financial position, risks of supply chain constraints and inflationary pressures, projected expenses, prospects, plans including footprint and technology asset consolidations, objectives of management, new capabilities, product and solutions launches including AI-assisted and 5G streaming technologies, expected contract values, projected pipeline sales opportunities, acquisitions integration, and expected market opportunities across the Company’s operating segments including the live event production market, the effects of the COVID-19 pandemic, the sufficiency of the Company’s capital resources to fund the Company’s operations and any statements regarding future results are forward-looking statements. Vislink may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in any forward-looking statements such as the foregoing and you should not place undue reliance on such forward-looking statements. Such statements are based on management’s current expectations and involve risks and uncertainties, including those discussed in Vislink’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the Securities and Exchange Commission (“SEC”) on March 31, 2023 and in subsequent filings with, or submissions to, the SEC from time to time.

The statements made in this press release speak only as of the date stated herein, and subsequent events and developments may cause the Company’s expectations and beliefs to change. While the Company may elect to update these forward-looking statements publicly at some point in the future, the Company specifically disclaims any obligation to do so, whether as a result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing the Company’s views as of any date after the date stated herein.

About Vislink Technologies, Inc.

Vislink Technologies is a global technology leader in the capture, delivery, and management of high-quality, live video, and associated data in the media and entertainment, law enforcement, and defense markets. With a renowned heritage in video communications encompassing over 50 years, Vislink has revolutionized live video communications by delivering the highest-quality video from the scene, even in the most challenging transmission conditions. Through its Mobile Viewpoint product lines, Vislink also provides live streaming solutions using bonded cellular, 5G, and AI-driven technologies for automated news and sports productions. Vislink’s innovative solutions enable broadcasters and public safety agencies to capture and share live video seamlessly and securely, ensuring they can stay connected with their audiences, teams, and operations. Vislink’s shares of common stock are publicly traded on the Nasdaq Capital Market under the ticker symbol “VISL.” For more information, visit www.vislink.com.

Media Contact:

Charlotte van Hertum
Vislink
[email protected]

Investor Relations Contact:

Matt Glover and Tom Colton
Gateway Group, Inc.
[email protected]



Posted on

TOMI Announces Preliminary Second Quarter Revenue Growth of 90%

FREDERICK, Md., July 24, 2023 (GLOBE NEWSWIRE) — TOMI Environmental Solutions, Inc.® (“TOMI”) (NASDAQ: TOMZ), a global company specializing in disinfection and decontamination solutions, today announced preliminary unaudited revenue for its second quarter ended June 30, 2023.

Revenue is expected to be approximately $2.8 million, an increase of an estimated $1.3 million, or 90%, as compared to the revenue for the same quarterly period in 2022.   The preliminary revenue represents an increase of $1.2 million, or 75%, as compared to the revenue for the three months ended March 31, 2023.

Dr. Halden Shane, TOMI Chief Executive Officer states, “We anticipate improved financial results in the second quarter led by strong growth in our product and service revenues. We believe that this improved result is a reflection of our successful strategy to expand and grow our sales channels and customer base.”

The preliminary financial results for the quarter ended June 30, 2023, are unaudited, reflect our estimated financial results and are based on information available to management as of the date of this release and are subject to potential further material changes upon completion of the Company’s standard quarter-end closing procedures. In preparing this information, management made certain judgments and estimates about the appropriateness of certain reported amounts and disclosures. Our actual financial results for the three months ended June 30, 2023, have not yet been finalized by management and remain subject to the completion of management’s final review and our other closing procedures, as well as the completion of the review of our financial statement by our independent auditors. These preliminary estimated results do not represent a comprehensive statement of all financial results for the three and six months ended June 30, 2023. We are required to consider all available information through the finalization of our financial statements and their possible impact on our financial conditions and results of operations for the period, including the impact of such information on our judgments and estimates referred to above.

TOMI™ Environmental Solutions, Inc.: Innovating for a safer world®  

TOMI™ Environmental Solutions, Inc. (NASDAQ: TOMZ ) is a global decontamination and infection prevention company, providing environmental solutions for disinfection through the manufacturing, sales and licensing of its premier Binary Ionization Technology ® (BIT™) platform. Invented under a defense grant in association with the Defense Advanced Research Projects Agency (DARPA) of the U.S. Department of Defense, BIT™ solution utilizes a low percentage hydrogen peroxide as its only active ingredient and uses patented ionized Hydrogen Peroxide (iHP™) technology in all SteraMist systems to create superior disinfection. TOMI products are designed to service a broad spectrum of use sites, including, but not limited to, hospitals and medical facilities, biosafety labs, pharmaceutical facilities, commercial and office buildings, schools, restaurants, meat and produce processing facilities, and police and fire departments.

For additional information, please visit https://steramist.com/ or contact us at [email protected]  

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release contains forward-looking statements that are based on current expectations, estimates, forecasts and projections of future performance based on management’s judgment, beliefs, current trends, and anticipated product performance. These forward-looking statements include, without limitation, statements relating to our preliminary financial results, which are subject to quarter-end closing procedures. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. Forward-looking statements involve a number of risks and uncertainties, all of which are difficult or impossible to predict accurately and many of which are beyond our control. As such, our actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. Important factors that could affect our performance and cause results to differ materially from management’s expectations are described in the section entitled “Risk Factors,” in our Annual Report on Form 10-K and other SEC filings. These factors include: our history of losses that may prevent us from achieving profitability in the future; our lack of long-term customer contracts and our inability to rely on our sales history or backlog as an indicator of our future sales; that we are subject to a variety or risks associated with doing business internationally; our success in business depends on our ability to adequately protect our intellectual property; completing of quarter-end financial closing procedure, and that our stock price is volatile and there is a limited market for our shares. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance, or achievements. You should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today’s date, unless otherwise stated, and we undertake no duty to update such information, except as required under applicable law.

INVESTOR RELATIONS CONTACT: 
John Nesbett/Rosalyn Christian 
IMS Investor Relations  
[email protected]