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Progress Announces First Quarter 2021 Financial Results

Revenue and Earnings Per Share Exceed Guidance Ranges

Full Year Guidance Increased for Revenue, Earnings Per Share and Free Cash Flow

BEDFORD, Mass., March 25, 2021 (GLOBE NEWSWIRE) — Progress (NASDAQ: PRGS), the leading provider of products to develop, deploy and manage high-impact business applications, today announced financial results for its fiscal first quarter ended February 28, 2021.

First Quarter 2021 Highlights:

  • Revenue of $121.3 million increased 11% year-over-year on an actual currency basis, and 9% on a constant currency basis.
  • Non-GAAP revenue of $131.8 million increased 16% on an actual currency basis, and 14% on a constant currency basis.
  • Annualized Recurring Revenue (ARR) of $432 million increased 22% year-over-year on a constant currency basis with growth primarily driven by the acquisition of Chef Software.
  • Operating margin was 23% and Non-GAAP operating margin was 43%.
  • Diluted earnings per share was $0.42 compared to $0.46 in the same quarter last year, a decrease of 9%. 
  • Non-GAAP diluted earnings per share was $0.95 compared to $0.76 in the same quarter last year, an increase of 25%.

“The first quarter marked an excellent start to 2021 highlighted by better-than-expected growth on both the top and bottom line,” said Yogesh Gupta, CEO at Progress. “Our performance was stronger than expected across virtually all product lines and all of our key metrics. I am especially proud of the continued hard work and dedication of our entire organization and our first quarter results position us well as we continue to execute our total growth strategy.”

Additional financial highlights included

(1)

:

  Three Months Ended
  GAAP   Non-GAAP
(In thousands, except percentages and per share amounts) February 28,
2021 		  February 29,
2020		   %
Change 		  February 28,
2021 		  February 29,
2020		   %
Change
Revenue $ 121,280     $ 109,683     11  %   $ 131,784     $ 113,762     16  %
Income from operations $ 27,416     $ 30,712     (11 )%   $ 56,657     $ 47,973     18  %
Operating margin 23  %   28  %   (500) bps   43  %   42  %   100 bps
Net income $ 18,961     $ 21,116     (10 )%   $ 42,504     $ 34,703     22  %
Diluted earnings per share $ 0.42     $ 0.46     (9 )%   $ 0.95     $ 0.76     25  %
Cash from operations (GAAP) /Adjusted free cash flow (Non-GAAP) $ 44,688     $ 33,016     35  %   $ 46,515     $ 33,297     40  %

(1)See Legal Notice Regarding Non-GAAP Financial Information

Other fiscal first quarter 2021 metrics and recent results included:

  • Cash, cash equivalents and short-term investments were $114.4 million at the end of the quarter;
  • DSO was 53 days compared to 49 days in the fiscal first quarter of 2020 and 54 days in the fiscal fourth quarter of 2020;
  • Pursuant to the $250 million share authorization by the Board of Directors, Progress repurchased 0.4 million shares for $15.0 million during the first fiscal quarter of 2021. As of February 28, 2021, there was $175.0 million remaining under this authorization; and
  • On March 23, 2021, our Board of Directors declared a quarterly dividend of $0.175 per share of common stock that will be paid on June 15, 2021 to shareholders of record as of the close of business on June 1, 2021.

Anthony Folger, CFO, said: “Progress delivered strong financial results across the board in the first quarter, which has given us even greater confidence in our prospects for 2021. The integration of Chef is tracking ahead of plan and Chef’s first full quarter with Progress contributed better than expected performance and helped continue the trend of an increasing mix of revenue being derived from recurring sources.”

Select Performance Metrics:

Management evaluates our financial performance using a number of financial and operating metrics. These metrics are periodically reviewed and revised to reflect changes in our business.

Beginning this period, Progress is providing an ARR performance metric to help investors better understand and assess the performance of our business because our mix of revenue generated from recurring sources has increased in recent years. ARR represents the annualized contract value for all active and contractually binding term-based contracts at the end of a period. ARR includes maintenance, software upgrade rights, public cloud and on-premises subscription-based transactions and managed services. Additional information regarding ARR is contained in the company’s Current Report on Form 8-K furnished to the Securities and Exchange Commission in connection with this press release, which is also available on the Progress website within the investor relations section.

ARR does not have any standardized meaning and is therefore unlikely to be comparable to similarly titled measures presented by other companies. ARR should be viewed independently of revenue and deferred revenue and is not intended to be combined with or to replace either of those items. ARR is not a forecast and the active contracts at the end of a reporting period used in calculating ARR may or may not be extended or renewed by our customers.

In addition, Progress is in the process of updating its segments based on changes to how performance is assessed and resources are allocated. Progress expects to begin operating as one distinct segment to align with the way that management internally analyzes the business. Progress previously reported results based on three segments. Progress plans to implement the new segment structure starting with results for the fiscal second quarter ending May 31, 2021.

2021 Business Outlook

Progress provides the following guidance for the fiscal year ending November 30, 2021 and the fiscal second quarter ending May 31, 2021:

  Updated FY 2021 Guidance

(March 25, 2021) 		  FY 2021 Guidance
(January 14, 2021)
(In millions, except percentages and per share amounts) GAAP   Non-GAAP   GAAP   Non-GAAP
Revenue $493 – $501   $519 – $527   $487 – $495   $513 – $521
Diluted earnings per share $1.56 – $1.60   $3.38 – $3.42   $1.40 – $1.46   $3.22 – $3.28
Operating margin 20
% 		  38
% 		  19%   37%
Cash from operations (GAAP) /
Adjusted free cash flow (Non-GAAP)		 $157 – $162   $155 – $160   $151 – $156   $150 – $155
Effective tax rate 21
% 		  20
% 		  21%   20%

  Q2 2021 Guidance
(In millions, except per share amounts) GAAP   Non-GAAP
Revenue $112 – $116   $119 – $123
Diluted earnings per share $0.25 – $0.27   $0.72 – $0.74
       

Based on current exchange rates, the expected positive currency translation impact on Progress’ fiscal year 2021 business outlook compared to 2020 exchange rates is approximately $5.8 million on GAAP and non-GAAP revenue, and approximately $0.02 on GAAP and non-GAAP diluted earnings per share. The expected positive currency translation impact on Progress’ fiscal Q2 2021 business outlook compared to 2020 exchange rates on GAAP and non-GAAP revenue is approximately $2.4 million. The expected positive impact on GAAP and non-GAAP diluted Q2 2021 earnings per share is $0.01. To the extent that there are changes in exchange rates versus the current environment, this may have an impact on Progress’ business outlook.

Conference Call

Progress will hold a conference call to review its financial results for the fiscal first quarter of 2021 at 5:00 p.m. ET on Thursday, March 25, 2021. The call can be accessed on the investor relations section of the company’s website, located at www.progress.com. Additionally, you can listen to the call by telephone by dialing 800-367-2403 or 334-777-6978, passcode 3276569. The conference call will include comments followed by questions and answers. An archived version of the conference call and supporting materials will be available on the Progress website within the investor relations section after the live conference call.

Legal Notice Regarding Non-GAAP Financial Information

Progress provides non-GAAP financial information as additional information for investors. These non-GAAP measures are not in accordance with, or an alternative to, generally accepted accounting principles in the United States (“GAAP”). Progress believes that the non-GAAP results described in this release are useful for an understanding of its ongoing operations and provide additional detail and an alternative method of assessing its operating results.  A reconciliation of non-GAAP adjustments to the company’s GAAP financial results is included in the tables below and is available on the Progress website at www.progress.com within the investor relations section. Additional information regarding the company’s non-GAAP financial information is contained in the company’s Current Report on Form 8-K furnished to the Securities and Exchange Commission in connection with this press release, which is also available on the Progress website within the investor relations section.

Note Regarding Forward-Looking Statements

This press release contains statements that are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Progress has identified some of these forward-looking statements with words like “believe,” “may,” “could,” “would,” “might,” “should,” “expect,” “intend,” “plan,” “target,” “anticipate” and “continue,” the negative of these words, other terms of similar meaning or the use of future dates.

Forward-looking statements in this press release include, but are not limited to, statements regarding Progress’ business outlook and financial guidance. There are a number of factors that could cause actual results or future events to differ materially from those anticipated by the forward-looking statements, including, without limitation:

(1) Economic, geopolitical and market conditions can adversely affect our business, results of operations and financial condition, including our revenue growth and profitability, which in turn could adversely affect our stock price. (2) We may fail to achieve our financial forecasts due to such factors as delays or size reductions in transactions, fewer large transactions in a particular quarter, fluctuations in currency exchange rates, or a decline in our renewal rates for contracts. (3) Our ability to successfully manage transitions to new business models and markets, including an increased emphasis on a cloud and subscription strategy, may not be successful. (4) If we are unable to develop new or sufficiently differentiated products and services, or to enhance and improve our existing products and services in a timely manner to meet market demand, partners and customers may not purchase new software licenses or subscriptions or purchase or renew support contracts. (5) We depend upon our extensive partner channel and we may not be successful in retaining or expanding our relationships with channel partners. (6) Our international sales and operations subject us to additional risks that can adversely affect our operating results, including risks relating to foreign currency gains and losses. (7) If the security measures for our software, services, other offerings or our internal information technology infrastructure are compromised or subject to a successful cyber-attack, or if our software offerings contain significant coding or configuration errors, we may experience reputational harm, legal claims and financial exposure. (8) We have made acquisitions, and may make acquisitions in the future, and those acquisitions may not be successful, may involve unanticipated costs or other integration issues or may disrupt our existing operations. (9) Delay or failure to realize the expected synergies and benefits of the Chef acquisition could negatively impact our future results of operations and financial condition. (10) The continuing impact of the coronavirus disease (COVID-19) outbreak on our employees, customers, partners, and the global financial markets could adversely affect our business, results of operations and financial condition. For further information regarding risks and uncertainties associated with Progress’ business, please refer to Progress’ filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended November 30, 2020. Progress undertakes no obligation to update any forward-looking statements, which speak only as of the date of this press release.

About Progress

Progress (NASDAQ: PRGS) provides the best products to develop, deploy and manage high-impact business applications. Our comprehensive product stack is designed to make technology teams more productive and we have a deep commitment to the developer community, both open source and commercial alike. With Progress, organizations can accelerate the creation and delivery of strategic business applications, automate the process by which apps are configured, deployed and scaled, and make critical data and content more accessible and secure—leading to competitive differentiation and business success. Over 1,700 independent software vendors, 100,000 enterprise customers, and three million developers rely on Progress to power their applications. Learn about Progress at www.progress.com or +1-800-477-6473.

Progress and Progress Software are trademarks or registered trademarks of Progress Software Corporation and/or its subsidiaries or affiliates in the U.S. and other countries. Any other names contained herein may be trademarks of their respective owners.

Investor Contact: Press Contact:
Michael Micciche Erica McShane
Progress Software Progress Software
+1 781 850 8450 +1 781 280 4000
[email protected] [email protected]
   

 
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)
   
  Three Months Ended
(In thousands, except per share data) February 28,
2021		   February 29,
2020		   %
Change
Revenue:          
Software licenses $ 33,317     $ 30,629     9   %
Maintenance and services 87,963     79,054     11   %
Total revenue 121,280     109,683     11   %
Costs of revenue:          
Cost of software licenses 1,151     1,389     (17 )%
Cost of maintenance and services 13,319     11,851     12   %
Amortization of acquired intangibles 3,521     1,646     114   %
Total costs of revenue 17,991     14,886     21   %
Gross profit 103,289     94,797     9   %
Operating expenses:          
Sales and marketing 29,469     24,198     22   %
Product development 24,548     21,654     13   %
General and administrative 13,424     12,748     5   %
Amortization of acquired intangibles 6,879     4,131     67   %
Restructuring expenses 1,157     1,040     11   %
Acquisition-related expenses 396     314     26   %
Total operating expenses 75,873     64,085     18   %
Income from operations 27,416     30,712     (11 )%
Other expense, net (2,652 )   (3,397 )   22   %
Income before income taxes 24,764     27,315     (9 )%
Provision for income taxes 5,803     6,199     (6 )%
Net income $ 18,961     $ 21,116     (10 )%
           
Earnings per share:          
Basic $ 0.43     $ 0.47     (9 )%
Diluted $ 0.42     $ 0.46     (9 )%
Weighted average shares outstanding:          
Basic 44,108     44,897     (2 )%
Diluted 44,652     45,515     (2 )%
           
Cash dividends declared per common share $ 0.175     $ 0.165     6   %

Stock-based compensation is included in the condensed consolidated statements of operations, as follows:
Cost of revenue $ 392     $ 319     23   %
Sales and marketing 1,503     1,050     43   %
Product development 1,919     1,926     —   %
General and administrative 2,970     2,756     8   %
Total $ 6,784     $ 6,051     12   %
                     

 
CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)
       
(In thousands) February 28,
2021		   November 30,
2020
Assets      
Current assets:      
Cash, cash equivalents and short-term investments $ 114,371     $ 105,995  
Accounts receivable, net 77,573     84,040  
Unbilled receivables and contract assets 24,099     24,917  
Other current assets 23,266     23,983  
Total current assets 239,309     238,935  
Property and equipment, net 29,838     29,817  
Goodwill and intangible assets, net 694,048     704,473  
Right-of-use lease assets 31,265     30,635  
Long-term unbilled receivables and contract assets 14,334     17,133  
Other assets 18,263     20,789  
Total assets $ 1,027,057     $ 1,041,782  
Liabilities and shareholders’ equity      
Current liabilities:      
Accounts payable and other current liabilities $ 55,019     $ 70,899  
Current portion of long-term debt, net 20,124     18,242  
Short-term operating lease liabilities 7,154     7,015  
Short-term deferred revenue 183,443     166,387  
Total current liabilities 265,740     262,543  
Long-term debt, net 343,758     364,260  
Long-term operating lease liabilities 27,342     26,966  
Long-term deferred revenue 25,535     26,908  
Other long-term liabilities 12,129     15,092  
Shareholders’ equity:      
Common stock and additional paid-in capital 312,137     306,244  
Retained earnings 40,416     39,769  
Total shareholders’ equity 352,553     346,013  
Total liabilities and shareholders’ equity $ 1,027,057     $ 1,041,782  
               

 
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)
   
  Three Months Ended
(In thousands) February 28,
2021		   February 29,
2020
Cash flows from operating activities:      
Net income $ 18,961     $ 21,116  
Depreciation and amortization 11,862     7,669  
Stock-based compensation 6,784     6,051  
Other non-cash adjustments 3,039     5,347  
Changes in operating assets and liabilities 4,042     (7,167 )
Net cash flows from operating activities 44,688     33,016  
Capital expenditures (1,166 )   (1,148 )
Issuances of common stock, net of repurchases (11,515 )   (15,755 )
Dividend payments to shareholders (7,854 )   (7,468 )
Payments of principal on long-term debt (18,763 )   (1,882 )
Other 2,986     (3,393 )
Net change in cash, cash equivalents and short-term investments 8,376     3,370  
Cash, cash equivalents and short-term investments, beginning of period 105,995     173,685  
Cash, cash equivalents and short-term investments, end of period $ 114,371     $ 177,055  
               

 
RECONCILIATIONS OF GAAP TO NON-GAAP SELECTED FINANCIAL MEASURES

(Unaudited)
       
  Three Months Ended   % Change
(In thousands, except per share data) February 28, 2021   February 29, 2020   Non-GAAP
Adjusted revenue:                  
GAAP revenue $ 121,280         $ 109,683          
Acquisition-related revenue(1) 10,504         4,079          
Non-GAAP revenue $ 131,784     100  %   $ 113,762     100  %   16  %
                   
Adjusted income from operations:                  
GAAP income from operations $ 27,416     23  %   $ 30,712     28  %    
Amortization of acquired intangibles 10,400     8  %   5,777     5  %    
Restructuring expenses and other 1,157     1  %   1,040     1  %    
Stock-based compensation 6,784     3  %   6,051     4  %    
Acquisition-related revenue(1) and expenses 10,900     8  %   4,393     4  %    
Non-GAAP income from operations $ 56,657     43  %   $ 47,973     42  %   18  %
                   
Adjusted net income:                  
GAAP net income $ 18,961     16  %   $ 21,116     19  %    
Amortization of acquired intangibles 10,400     8  %   5,777     5  %    
Restructuring expenses and other 1,157     1  %   1,040     1  %    
Stock-based compensation 6,784     3  %   6,051     5  %    
Acquisition-related revenue(1) and expenses 10,900     8  %   4,393     4  %    
Provision for income taxes (5,698 )   (4 )%   (3,674 )   (3 )%    
Non-GAAP net income $ 42,504     32  %   $ 34,703     31  %   22  %
                   
Adjusted diluted earnings per share:                  
GAAP diluted earnings per share $ 0.42         $ 0.46          
Amortization of acquired intangibles 0.23         0.13          
Restructuring expenses and other 0.03         0.02          
Stock-based compensation 0.16         0.13          
Acquisition-related revenue(1) and expenses 0.24         0.10          
Provision for income taxes (0.13 )       (0.08 )        
Non-GAAP diluted earnings per share $ 0.95         $ 0.76         25  %
                   
Non-GAAP weighted avg shares outstanding – diluted 44,652         45,515         (2 )%
                   
(1)Acquisition-related revenue constitutes revenue reflected as pre-acquisition deferred revenue that would otherwise have been recognized but for the purchase accounting treatment of acquisitions. Since GAAP accounting requires the elimination of this revenue, GAAP results alone do not fully capture all of our economic activities. Acquisition-related revenue adjustments relate to Progress’ Application Development and Deployment business segment for Chef and Progress’ OpenEdge business segment for Ipswitch.
 

 
OTHER NON-GAAP FINANCIAL MEASURES

(Unaudited)
           
Adjusted Free Cash Flow          
           
(In thousands) Q1 2021   Q1 2020   % Change
Cash flows from operations $ 44,688     $ 33,016     35  %
Purchases of property and equipment (1,166 )   (1,148 )   2  %
Free cash flow 43,522     31,868     37  %
Add back: restructuring payments 2,993     1,429     109  %
Adjusted free cash flow $ 46,515     $ 33,297     40  %
                     

 
RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES FOR FISCAL YEAR 2021 GUIDANCE

(Unaudited)
 
Fiscal Year 2021 Updated Revenue Guidance
  Fiscal Year Ended   Fiscal Year Ending
  November 30, 2020   November 30, 2021
(In millions)     Low   % Change   High   % Change
GAAP revenue $ 442.1     $ 493.0     12  %   $ 501.0     13  %
Acquisition-related adjustments – revenue(1) 14.1     26.0     84  %   26.0     84  %
Non-GAAP revenue $ 456.2     $ 519.0     14  %   $ 527.0     16  %
                                   
(1)Acquisition-related revenue constitutes revenue reflected as pre-acquisition deferred revenue that would otherwise have been recognized but for the purchase accounting treatment of acquisitions. Since GAAP accounting requires the elimination of this revenue, GAAP results alone do not fully capture all of our economic activities. Acquisition-related revenue adjustments relate to Ipswitch and Chef.

Fiscal Year 2021 Updated Non-GAAP Operating Margin Guidance
  Fiscal Year Ending November 30, 2021
(In millions) Low   High
GAAP income from operations $ 99.5     $ 102.1  
GAAP operating margins 20  %   20  %
Acquisition-related revenue 26.0     26.0  
Acquisition-related expense 0.9     0.9  
Restructuring expense 1.3     1.3  
Stock-based compensation 27.2     27.2  
Amortization of acquired intangibles 44.9     44.9  
Total adjustments(2) 100.3     100.3  
Non-GAAP income from operations $ 199.8     $ 202.4  
Non-GAAP operating margin 38  %   38  %
           
(2)Total adjustments include preliminary estimates relating to the valuation of intangible assets acquired from Chef and restructuring expenses. The final amounts will not be available until the Company’s internal procedures and reviews are completed.

Fiscal Year 2021 Updated Non-GAAP Earnings per Share and Effective Tax Rate Guidance
  Fiscal Year Ending November 30, 2021
(In millions, except per share data) Low   High
GAAP net income $ 69.5     $ 71.5  
Adjustments (from previous table) 100.3     100.3  
Income tax adjustment(3) (19.2 )   (19.2 )
Non-GAAP net income $ 150.6     $ 152.6  
       
GAAP diluted earnings per share $ 1.56     $ 1.60  
Non-GAAP diluted earnings per share $ 3.38     $ 3.42  
       
Diluted weighted average shares outstanding 44.6     44.6  
       
(3)Tax adjustment is based on a non-GAAP effective tax rate of approximately 20% for Low and High, calculated as follows:
Non-GAAP income from operations $ 199.8     $ 202.4  
Other (expense) income (11.6 )   (11.6 )
Non-GAAP income from continuing operations before income taxes 188.2     190.8  
Non-GAAP net income 150.6     152.6  
Tax provision $ 37.6     $ 38.2  
Non-GAAP tax rate 20  %   20  %
           

 
RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES FOR FISCAL YEAR 2021 GUIDANCE

(Unaudited)
 
Fiscal Year 2021 Adjusted Free Cash Flow Guidance
  Fiscal Year Ending November 30, 2021
(In millions) Low   High
Cash flows from operations (GAAP) $ 157     $ 162  
Purchases of property and equipment (7 )   (7 )
Add back: restructuring payments 5     5  
Adjusted free cash flow (non-GAAP) $ 155     $ 160  
               

 
RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES FOR Q2 2021 GUIDANCE

(Unaudited)
 
Q2 2021 Revenue Guidance
  Three Months Ended   Three Months Ending
  May 31, 2020   May 31, 2021
(In millions)     Low   % Change   High   % Change
GAAP revenue $ 100.4     $ 112.3     12  %   $ 116.3     16  %
Acquisition-related adjustments – revenue(1) 2.1     6.7     219  %   6.7     219  %
Non-GAAP revenue $ 102.5     $ 119.0     16  %   $ 123.0     20  %
                                   
(1)Acquisition-related revenue constitutes revenue reflected as pre-acquisition deferred revenue that would otherwise have been recognized but for the purchase accounting treatment of acquisitions. Since GAAP accounting requires the elimination of this revenue, GAAP results alone do not fully capture all of our economic activities. Acquisition-related revenue adjustments relate to Ipswitch and Chef.

Q2 2021 Non-GAAP Earnings per Share Guidance
  Three Months Ending May 31, 2021
  Low   High
GAAP diluted earnings per share $ 0.25     $ 0.27  
Acquisition-related revenue 0.15     0.15  
Acquisition-related expense 0.01     0.01  
Stock-based compensation 0.16     0.16  
Amortization of acquired intangibles 0.26     0.26  
Total adjustments(2) 0.58     0.58  
Income tax adjustment (0.11 )   (0.11 )
Non-GAAP diluted earnings per share $ 0.72     $ 0.74  
               
(2)Total adjustments include preliminary estimates relating to the valuation of intangible assets acquired from Chef. The final amounts will not be available until the Company’s internal procedures and reviews are completed.
 



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The First Bancorp Declares First Quarter Dividend

The First Bancorp Declares First Quarter Dividend

DAMARISCOTTA, Maine–(BUSINESS WIRE)–
The Board of Directors of The First Bancorp (NASDAQ: FNLC), the parent company of First National Bank, today declared a quarterly cash dividend of 31 cents per share. This first quarter dividend is payable April 16, 2021 to shareholders of record as of April 6, 2021. Based on the March 24, 2021 closing price of $28.08 per share, the annualized dividend of $1.24 per share translates to a yield of 4.42%.

“The First Bancorp reported record annual earnings in 2020,” remarked President & Chief Executive Officer, Tony C. McKim. “I’m pleased that the Company’s Board of Directors continues to view paying a generous cash dividend as an appropriate way to share this success with our shareholders.”

The First Bancorp, headquartered in Damariscotta, Maine, is the holding company for First National Bank. Founded in 1864, the Bank serves Mid-Coast and Down East Maine with seventeen offices in Lincoln, Knox, Hancock, Penobscot, Waldo and Washington Counties. The Bank provides a full range of consumer and commercial banking products and services. First National Wealth Management, a division of First National Bank, provides investment management and trust services from five offices in Lincoln, Knox, Penobscot and Hancock Counties.

Forward-looking and cautionary statements: except for the historical information and discussions contained herein, statements contained in this release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially, as discussed in the Company’s filings with the Securities and Exchange Commission.

Richard M. Elder

EVP & Chief Financial Officer of The First Bancorp

207.563.3195 x2087

KEYWORDS: United States North America Maine

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

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Elastic Announces New Capabilities to Accelerate Threat Hunting Workflows, Prevent Ransomware, and Eliminate Blind Spots in Elastic Security

Elastic Announces New Capabilities to Accelerate Threat Hunting Workflows, Prevent Ransomware, and Eliminate Blind Spots in Elastic Security

Arming Practitioners With Analyst-Driven Correlation, Behavioral Ransomware Prevention, and Nearly Unlimited Data Lookback Capabilities

  • Accelerating threat hunting and investigation workflows with analyst-driven correlation powered by Event Query Language (EQL).
  • Adding a new layer of ransomware prevention with behavioral analysis in the Elastic Agent.
  • Leaving cyber threats nowhere to hide by making more data available to security analysts through schema on read, searchable snapshots, and enhanced search.

MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–Elastic (NYSE: ESTC) (“Elastic”), the company behind Elasticsearch and the Elastic Stack, recently announced new updates across the Elastic Security solution in the 7.12 release to accelerate threat hunting and investigation workflows, prevent ransomware, and eliminate blind spots. Enhanced capabilities include analyst-driven correlation, behavioral ransomware prevention, and unmatched data lookback with schema on read, searchable snapshots, and cross-cluster search.

Elastic Security streamlines security operation workflows and helps practitioners maximize data insights with analyst-driven correlation. Driven by Event Query Language (EQL) — the technology behind advanced correlation in the Elastic Security detection engine — analyst-driven correlation provides more targeted threat hunting and investigation with higher-fidelity detections derived from the findings that analysts uncover during those investigations. Security teams benefit from multiple detection and investigative methods that cover a broad range of security use cases. Combining EQL-based correlations with machine learning-based detections, indicator match type detection rules, and third-party context at cloud scale enables a more comprehensive security strategy.

Behavioral analysis with the Elastic Agent was also introduced to add a new layer of ransomware prevention in Elastic Security. Complementing the signatureless anti-malware first introduced in Elastic Security 7.9, behavioral ransomware prevention on the Elastic Agent detects and stops ransomware attacks on Windows systems by analyzing data from low-level system processes. It is effective across an array of widespread ransomware families, including those targeting the system’s master boot record.

Elastic Security is also expanding its data integrations and making it simple to migrate data from existing Splunk Enterprise environments with a connector that makes specific data sources available for rapid analysis, and added support for Cisco Advanced Malware Protection to analyze valuable endpoint data within Elastic Security. The Elastic Agent now collects several data sources that previously required Filebeat, including Sophos XG, Microsoft Defender ATP, and Google Cloud.

For more information read the Elastic blog about what’s new in Elastic Security 7.12.

About Elastic:

Elastic is a search company built on a free and open heritage. Anyone can use Elastic products and solutions to get started quickly and frictionlessly. Elastic offers three solutions for enterprise search, observability, and security, built on one technology stack that can be deployed anywhere. From finding documents to monitoring infrastructure to hunting for threats, Elastic makes data usable in real time and at scale. Thousands of organizations worldwide, including Cisco, eBay, Goldman Sachs, Microsoft, The Mayo Clinic, NASA, The New York Times, Wikipedia, and Verizon, use Elastic to power mission-critical systems. Founded in 2012, Elastic is a distributed company with Elasticians around the globe and is publicly traded on the NYSE under the symbol ESTC. Learn more at elastic.co.

The release and timing of any features or functionality described in this document remain at Elastic’s sole discretion. Any features or functionality not currently available may not be delivered on time or at all.

Elastic and associated marks are trademarks or registered trademarks of Elastic N.V. and its subsidiaries. All other company and product names may be trademarks of their respective owners.

Elastic Public Relations

Ariel Roop

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Data Management Security Technology Software Networks Internet

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Takeda Begins Regulatory Submissions for Dengue Vaccine Candidate in EU and Dengue-Endemic Countries

Takeda Begins Regulatory Submissions for Dengue Vaccine Candidate in EU and Dengue-Endemic Countries

− European Medicines Agency to Conduct First-Ever Parallel Assessment of a Medicinal Product, Takeda’s Dengue Vaccine Candidate (TAK-003), for use in the EU; Countries Outside of the EU through the EU-M4all (Previously Article 58) Procedure

− Takeda Intends to Submit Regulatory Filings in Argentina, Brazil, Colombia, Indonesia, Malaysia, Mexico, Singapore, Sri Lanka and Thailand During 2021

− TAK-003 is Being Studied for the Prevention of Dengue Due to any Dengue Virus Serotype in Individuals Ages Four to 60

OSAKA, Japan & CAMBRIDGE, Mass.–(BUSINESS WIRE)–Takeda Pharmaceutical Company Limited(TSE:4502/NYSE:TAK) (“Takeda”) today announced that the European Medicines Agency (EMA) has accepted the Company’s filing packages for its dengue vaccine candidate (TAK-003) which is being investigated for the prevention of dengue due to any dengue virus serotype in individuals ages four to 60. Takeda intends to submit regulatory filings in Argentina, Brazil, Colombia, Indonesia, Malaysia, Mexico, Singapore, Sri Lanka and Thailand during 2021.

“Submission of regulatory filings for our dengue vaccine candidate, TAK-003, marks an important development for people who are living in or traveling to communities burdened by the threat of dengue,” said Derek Wallace, VP, Dengue Global Program Leader at Takeda. “Dengue outbreaks, which result in half a million hospitalizations globally each year, can overwhelm communities and governments because of the broad impact on the health care system. With limited options to prevent the disease, there is a pressing need for widely available dengue vaccines. Takeda is committed to working with regulatory authorities and recommending bodies to support evaluation of our submissions and achieve access for TAK-003.”

Takeda is participating in the EMA’s first-ever parallel assessment of a medicinal product for use in the European Union (EU), and through the EU-M4all (previously Article 58) procedure for countries outside of the EU. Along with the scientific opinion issued by the Committee for Medicinal Products for Human Use (CHMP), national regulators in countries participating in the EU-M4all procedure will conduct their own assessments to determine if national marketing authorizations for TAK-003 are granted. Takeda is also seeking approval of TAK-003 in dengue-endemic countries that are not participating in the EU-M4all procedure.

Regulatory submissions for TAK-003 include long-term safety and efficacy data through 36 months from the ongoing pivotal Phase 3 Tetravalent Immunization against Dengue Efficacy Study (TIDES) trial. Takeda intends to present and publish details of the 36-month data at a scientific meeting and in a peer-reviewed journal this year.

Takeda also intends to submit regulatory filings in the United States, followed by additional countries in Asia and Latin America.

EU-M4all1

EU-M4all (or EU-Medicines for all) is a procedure designed to facilitate patient access to essential medicines or vaccines intended to prevent or treat diseases of major public health interest. Through the EU-M4all procedure (previously known as the Article 58 procedure), the EMA, in cooperation with the World Health Organization (WHO), can provide scientific opinion on medicines and vaccines for public health priority diseases that are intended for markets outside of the EU.

About TAK-003

Takeda’s tetravalent dengue vaccine candidate (TAK-003) is based on a live-attenuated dengue serotype 2 virus, which provides the genetic “backbone” for all four vaccine viruses.2 Clinical Phase 2 data in children and adolescents showed that TAK-003 induced immune responses against all four dengue serotypes, in both seropositive and seronegative participants, which persisted through 48 months after vaccination, and the vaccine was found to be generally safe and well tolerated.3 Thepivotal Phase 3 TIDES trialmet its primary endpoint of overall vaccine efficacy (VE) against virologically confirmed dengue (VCD) at 12 months follow-up and all secondary endpoints at 18 months follow-upfor which there were a sufficient number of dengue cases, including VE against hospitalized dengue and VE in baseline seropositive and baseline seronegative individuals.4,5 Efficacy varied by serotype. The results demonstrated TAK-003 was generally well tolerated, and there have been no important safety risks observed to date.

About the Phase 3 TIDES (DEN-301) Trial

The double-blind, randomized, placebo-controlled Phase 3 TIDES trial is evaluating the safety and efficacy of two doses of TAK-003 in the prevention of laboratory-confirmed symptomatic dengue fever of any severity and due to any of the four dengue virus serotypes in children and adolescents.4 The TIDES trial is Takeda’s largest interventional clinical trial to date and enrolled over 20,000 healthy children and adolescents ages four to 16 years living in dengue-endemic areas. Study participants were randomly assigned to receive either TAK-003 0.5 mL or placebo by subcutaneous injection on Day 1 and Day 90.4 The study is comprised of five parts. Part 1 and the primary endpoint analysis evaluated vaccine efficacy (VE) and safety through 15 months after the first dose (12 months after the second dose).4 Part 2 continued for an additional six months to complete the assessment of the secondary endpoints of VE by serotype, baseline serostatus and disease severity, including VE against hospitalized dengue.4 Part 3 is evaluating VE and long-term safety by following participants for an additional two and a half to three years.6 Part 4 will evaluate safety for 13 months following booster vaccination and Part 5 will evaluate long-term safety for one year after completion of Part 4.6

The trial is taking place at sites in dengue-endemic areas in Latin America (Brazil, Colombia, Panama, the Dominican Republic and Nicaragua) and Asia (Philippines, Thailand and Sri Lanka) where there are unmet needs in dengue prevention and where severe dengue is a leading cause of serious illness and death among children.4 Baseline blood samples were collected from all individuals participating in the trial to allow for evaluation of safety and efficacy based on serostatus. Takeda and an independent Data Monitoring Committee of experts are actively monitoring safety on an ongoing basis.

About Dengue

Dengue is the fastest spreading mosquito-borne viral disease and was one of the WHO’s top 10 threats to global health in 2019.7,8 Dengue is mainly spread by Aedes aegypti mosquitoes and, to a lesser extent, Aedes albopictus mosquitoes. It is caused by any of four dengue virus serotypes, each of which can cause dengue fever or severe dengue. The prevalence of individual serotypes varies across different geographies, countries, regions, seasons and over time.9 Recovery from infection by one serotype provides lifelong immunity against only that serotype, and later exposure to any of the remaining serotypes is associated with an increased risk of severe disease.

Dengue is pandemic prone, and outbreaks are observed in tropical and sub-tropical areas and have recently caused outbreaks in parts of the continental United States and Europe.10,11 Approximately half of the world now lives under the threat of dengue, which is estimated to cause 390 million infections and around 20,000 deaths globally each year.10,12 The dengue virus can infect people of all ages and is a leading cause of serious illness among children in some countries in Latin America and Asia.10

Takeda’s Commitment to Vaccines

Vaccines prevent 2 to 3 million deaths each year and have transformed global public health.13 For the past 70 years, Takeda has supplied vaccines to protect the health of people in Japan. Today, Takeda’s global vaccine business is applying innovation to tackle some of the world’s most challenging infectious diseases, such as dengue, COVID-19, Zika and norovirus. Takeda’s team brings an outstanding track record and a wealth of knowledge in vaccine development, manufacturing and global access to advance a pipeline of vaccines to address some of the world’s most pressing public health needs. For more information, visit www.TakedaVaccines.com.

About Takeda Pharmaceutical Company Limited

Takeda Pharmaceutical Company Limited (TSE: 4502/NYSE: TAK) is a global, values-based, R&D-driven biopharmaceutical leader headquartered in Japan, committed to discover and deliver life-transforming treatments, guided by our commitment to patients, our people and the planet. Takeda focuses its R&D efforts on four therapeutic areas: Oncology, Rare Genetic and Hematology, Neuroscience, and Gastroenterology (GI). We also make targeted R&D investments in Plasma-Derived Therapies and Vaccines. We are focusing on developing highly innovative medicines that contribute to making a difference in people’s lives by advancing the frontier of new treatment options and leveraging our enhanced collaborative R&D engine and capabilities to create a robust, modality-diverse pipeline. Our employees are committed to improving quality of life for patients and to working with our partners in health care in approximately 80 countries. For more information, visit https://www.takeda.com.

Important Notice

For the purposes of this notice, “press release” means this document, any oral presentation, any question and answer session and any written or oral material discussed or distributed by Takeda Pharmaceutical Company Limited (“Takeda”) regarding this release. This press release (including any oral briefing and any question-and-answer in connection with it) is not intended to, and does not constitute, represent or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, exchange, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction. No shares or other securities are being offered to the public by means of this press release. No offering of securities shall be made in the United States except pursuant to registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom. This press release is being given (together with any further information which may be provided to the recipient) on the condition that it is for use by the recipient for information purposes only (and not for the evaluation of any investment, acquisition, disposal or any other transaction). Any failure to comply with these restrictions may constitute a violation of applicable securities laws.

The companies in which Takeda directly and indirectly owns investments are separate entities. In this press release, “Takeda” is sometimes used for convenience where references are made to Takeda and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

Forward-Looking Statements

This press release and any materials distributed in connection with this press release may contain forward-looking statements, beliefs or opinions regarding Takeda’s future business, future position and results of operations, including estimates, forecasts, targets and plans for Takeda. Without limitation, forward-looking statements often include words such as “targets”, “plans”, “believes”, “hopes”, “continues”, “expects”, “aims”, “intends”, “ensures”, “will”, “may”, “should”, “would”, “could” “anticipates”, “estimates”, “projects” or similar expressions or the negative thereof. These forward-looking statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those expressed or implied by the forward-looking statements: the economic circumstances surrounding Takeda’s global business, including general economic conditions in Japan and the United States; competitive pressures and developments; changes to applicable laws and regulations, including global health care reforms; challenges inherent in new product development, including uncertainty of clinical success and decisions of regulatory authorities and the timing thereof; uncertainty of commercial success for new and existing products; manufacturing difficulties or delays; fluctuations in interest and currency exchange rates; claims or concerns regarding the safety or efficacy of marketed products or product candidates; the impact of health crises, like the novel coronavirus pandemic, on Takeda and its customers and suppliers, including foreign governments in countries in which Takeda operates, or on other facets of its business; the timing and impact of post-merger integration efforts with acquired companies; the ability to divest assets that are not core to Takeda’s operations and the timing of any such divestment(s); and other factors identified in Takeda’s most recent Annual Report on Form 20-F and Takeda’s other reports filed with the U.S. Securities and Exchange Commission, available on Takeda’s website at: https://www.takeda.com/investors/ reports/sec-filings/ or at www.sec.gov. Takeda does not undertake to update any of the forward-looking statements contained in this press release or any other forward-looking statements it may make, except as required by law or stock exchange rule. Past performance is not an indicator of future results and the results or statements of Takeda in this press release may not be indicative of, and are not an estimate, forecast, guarantee or projection of Takeda’s future results.

Medical information

This press release contains information about products that may not be available in all countries, or may be available under different trademarks, for different indications, in different dosages, or in different strengths. Nothing contained herein should be considered a solicitation, promotion or advertisement for any prescription drugs including the ones under development.

###

1The European Medicines Agency. Medicines for use outside the EU — EU-M4all. July 2020. Retrieved March 2021.

2 Huang CY-H, et al. Genetic and phenotypic characterization of manufacturing seeds for tetravalent dengue vaccine (DENVax). PLoS Negl Trop Dis. 2013;7:e2243.

3Tricou, V, Sáez-Llorens X, et al. Safety and immunogenicity of a tetravalent dengue vaccine in children aged 2-17 years: a randomised, placebo-controlled, phase 2 trial. Lancet. 2020. doi:10.1016/S0140-6736(20)30556-0.

4 Biswal S, et al. Efficacy of a tetravalent dengue vaccine in healthy children and adolescents. N Engl J Med. 2019; 2019;381:2009-2019.

5 Biswal S, et al. Efficacy of a tetravalent dengue vaccine in healthy children aged 4-16 years: a randomized, placebo controlled, phase 3 trial. Lancet. 2020. 2020;395:1423-1433.

6 ClinicalTrials.Gov. Efficacy, Safety and Immunogenicity of Takeda’s Tetravalent Dengue Vaccine (TDV) in Healthy Children (TIDES). Retrieved March 2021.

7 World Health Organization. Factsheet. Dengue and Severe Dengue. April 2019. Retrieved February 2021.

8 World Health Organization. Ten threats to global health in 2019. 2019. Retrieved February 2021.

9 Guzman MG, et al. Dengue: a continuing global threat. Nature Reviews Microbiology. 2010;8:S7-S16.

10 Knowlton K, et al. Mosquito-Borne Dengue Fever Threat Spreading in the Americas. The Natural Resources Defense Council (NRDC). 2009. Retrieved February 2021.

11 Chan E, et al. Using web search query data to monitor dengue epidemics: a new model for neglected tropical disease surveillance. PLoS Negl Trop Dis. 2011;5:e1206.

12 Centers for Disease Control and Prevention. About Dengue: What You Need to Know. May 2019. Retrieved February 2021.

13 UNICEF. Vaccination and Immunization Statistics. 2019. Retrieved February 2021.

Japanese Media

Kazumi Kobayashi

[email protected]

+81 (0) 3-3278-2095

Media Outside Japan

Rachel Wiese

[email protected]

+1 917-796-8703

KEYWORDS: Massachusetts North America United States Asia Pacific Japan Jamaica

INDUSTRY KEYWORDS: Biotechnology Infectious Diseases Health Pharmaceutical Clinical Trials

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Humana Inc. to Release First Quarter 2021 Results on April 28, 2021

Humana Inc. to Release First Quarter 2021 Results on April 28, 2021

LOUISVILLE, Ky.–(BUSINESS WIRE)–
Humana Inc. (NYSE: HUM) will release its financial results for the first quarter 2021 (1Q21) on Wednesday, April 28, 2021 at 6:30 a.m. Eastern time. The company will host a conference call at 9:00 a.m. Eastern time that morning to discuss its financial results for the quarter and earnings guidance for 2021.

All interested parties are invited to dial 888-625-7430. No password is required. A webcast of the 1Q21 earnings call may also be accessed via Humana’s Investor Relations page at www.humana.com. The company suggests participants for both the conference call and those listening via the web dial in or sign on at least 15 minutes in advance of the call.

For those unable to participate in the live event, the virtual presentation archive will be available in the Historical Webcasts and Presentations section of the Investor Relations page at www.humana.com, approximately two hours following the live webcast. Telephone replays will be available from approximately 12:15 p.m. Eastern time on April 28, 2021 until 10:59 p.m. Eastern time on June 26, 2021 and can be accessed by dialing 855-859-2056 and providing the conference ID #9581139.

The company’s 1Q21 earnings news release is expected to include financial measures that are not in accordance with Generally Accepted Accounting Principles (GAAP). A reconciliation of non-GAAP financial measures to financial results under GAAP, as well as management’s reasons for including non-GAAP financial measures, will be included in the company’s 1Q21 earnings news release, a copy of which will be available on the Investor Relations page of www.humana.com on April 28, 2021.

About Humana

Humana Inc. (NYSE: HUM) is committed to helping our millions of medical and specialty members achieve their best health. Our successful history in care delivery and health plan administration is helping us create a new kind of integrated care with the power to improve health and well-being and lower costs. Our efforts are leading to a better quality of life for people with Medicare, families, individuals, military service personnel, and communities at large.

To accomplish that, we support physicians and other health care professionals as they work to deliver the right care in the right place for their patients, our members. Our range of clinical capabilities, resources and tools – such as in-home care, behavioral health, pharmacy services, data analytics and wellness solutions – combine to produce a simplified experience that makes health care easier to navigate and more effective.

More information regarding Humana is available to investors via the Investor Relations page of the company’s website at humana.com, including copies of:

  • Annual reports to stockholders
  • Securities and Exchange Commission filings
  • Most recent investor conference presentations
  • Quarterly earnings news releases and conference calls
  • Calendar of events
  • Corporate Governance information

 

Amy Smith

Humana Investor Relations

(502) 580-2811

e-mail: [email protected]

Kelley Murphy

Humana Corporate Communications

(502) 224-1755

e-mail: [email protected]

KEYWORDS: Kentucky United States North America

INDUSTRY KEYWORDS: General Health Professional Services Health Insurance

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Sun Life releases its 2020 Sustainability Report, outlines achievements and commitments to sustainability

PR Newswire

Highlights include over $60 billion invested in assets and businesses that support the transition to a low-carbon and more inclusive economy

TORONTO, March 25, 2021 /PRNewswire/ – Sun Life Financial Inc. (“Sun Life”) (TSX: SLF) (NYSE: SLF) today published its 2020 Sustainability Report and its 2020 Public Accountability Statement. The report highlights the organization’s progress and commitment to sustainability focusing on three key areas: sustainable investing, financial security and healthier lives. It also reports on topics related to operating as a trusted and responsible business: diversity, equity and inclusion, data security and privacy, governance and ethics. Sun Life issued the results of its sustainability performance and initiatives, demonstrating its ongoing commitment to sustainability in areas where they have the most positive impact on society and the environment.

“As a global leader, Sun Life plays a critical role in driving positive change. We’re committed not only to advancing our sustainability objectives but also championing and contributing to sustainability within our respective industries and in the business communities where we operate,” said Melissa Kennedy, Executive Vice-President, Chief Legal Officer and Public Affairs and Executive Sponsor of Sustainability, Sun Life. “Our approach to sustainability is integrated into our strategic priorities and purpose and builds on our foundation as a trusted and responsible business.”

2020 marked a year of extraordinary global events, all of which impacted societal health, equity, the environment and economies around the world. These events heightened and highlighted the importance of sustainability. Sun Life’s 2020 Sustainability Report shows many actions and outcomes where the company has helped its Clients around the world overcome the health and economic impacts of 2020.

“For Sun Life, sustainability means more than simply being accountable. It is about taking actions that drive social outcomes for our Clients, employees and communities over the long term,” added Kennedy.

Selected highlights from Sun Life’s 2020 Sustainability Report:

Advancing sustainable investing

  • Reached over $60 billion in sustainable investments across its general account and third party investments (as at December 31, 2020). These assets and businesses contribute to a low-carbon and more inclusive economy, and meet criteria based on market standards.
  • Broadened SLC Management’s alternative investment solutions for institutional Clients to include infrastructure equity and advance sustainable investment options through the majority acquisition of InfraRed Capital Partners.
  • Introduced a new Environmental, Social and Governance (ESG) evaluation framework that helps Clients make informed decisions for sustainable investing through Sun Life’s Canadian Group Retirement Services business.

Increasing financial security

  • Helped Clients in Canada take 1.2 million positive financial actions. For example, thanks to Sun Life’s digital coach, Ella, Clients placed $700 million in savings products and obtained $1 billion of insurance coverage.
  • Grew the availability of products and services to help Clients in Asia increase their financial security. Launched new digital solutions across the region and partnered with two new bank distribution networks in Vietnam to make it easier for millions of Clients to get the coverage and advice they need.
  • Expanded low-cost insurance options for consumers in the Philippines and Indonesia through strategic partnerships with MediCard and LinkAja, contributing to nearly 120,000 microinsurance policies issued to date.

Fostering healthier lives

  • Launched Lumino Health Virtual Care in Canada, which connects Clients with medical practitioners for virtual consults. This offering helps Clients in need of enhanced medical support while social distancing.
  • Helped U.S. Clients enrol easily in the benefit choices they needed through Sun Life’s Maxwell Health digital platform.
  • Expanded their commitment to mental health through programs and services to help Clients and employees during challenging times.

Trusted and responsible business

  • Intensified their goal to reach gender parity globally and to have 25 per cent under-represented communities with specific goals for Black, Indigenous and People of Colour in senior management roles in North America by 2025.
  • Built a sustainability assessment process into all aspects of their corporate real estate operations in North America. Sun Life incorporates sustainability considerations in every step of a building’s lifecycle.
  • Supports the Task Force on Climate-related Financial Disclosures (TCFD), and disclosed climate risks in line with the TCFD recommendations in its 2020 Annual Management Discussion and Analysis and the 2020 Annual Report.

Earlier in March, Sun Life announced its sustainable investing and climate change actions, including an investment commitment of C$20 billion in sustainable investments over the next five years across its General Account and third party investments. These additional investments may range from renewable energy, energy efficiency, sustainable buildings, clean transportation, water management, and social infrastructure projects such as hospitals. 

Sustainability is a key strategic priority for Sun Life. The 2020 Sustainability Report is the 10th report issued and demonstrates its ongoing journey on its sustainability strategy. Since 2014, Sun Life has used the Global Reporting Initiative (GRI) framework to guide its reporting. This report is developed in accordance with the GRI Standards Core Option and reports on relevant disclosure topics identified in the Insurance and Asset Management standards developed by the Sustainability Accounting Standards Board (SASB).

Further details on Sun Life’s 2020 Sustainability Report and its 2020 Public Accountability Statement are available at sunlife.com/sustainability.

About Sun Life’s Sustainability Plan

Sun Life’s Sustainability Plan builds from a foundation as a trusted and responsible business. At its core is a focus on the areas where Sun Life can make the most positive social and environmental impact: increasing financial security, fostering healthier lives and advancing sustainable investing. Sun Life’s Sustainability Plan also focuses on minimizing its environmental footprint, supporting diversity, equity and inclusion in the workplace, data security and privacy, governance and ethics and risk management. In 2019, Sun Life also became the first life insurance company in the world to issue a sustainability bond. To learn more about Sun Life’s Sustainability Plan visit www.sunlife.com/en/sustainability/. 

About Sun Life 

Sun Life is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of December 31, 2020, Sun Life had total assets under management of $1,247 billion. For more information please visit www.sunlife.com.

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.


Note to editors: All figures in Canadian dollars

Media Relations Contact: 
Abigail Bueno
Manager, Corporate Communications
416-802-8107
[email protected]

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/sun-life-releases-its-2020-sustainability-report-outlines-achievements-and-commitments-to-sustainability-301256375.html

SOURCE Sun Life Financial Inc.

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Cannae Holdings, Inc. Announces Foley Trasimene Acquisition Corp. II Stockholder Approval of Proposed Combination with Paysafe

Cannae Holdings, Inc. Announces Foley Trasimene Acquisition Corp. II Stockholder Approval of Proposed Combination with Paysafe

LAS VEGAS–(BUSINESS WIRE)–
Cannae Holdings, Inc. (NYSE: CNNE) (“Cannae”) today announced that stockholders of Foley Trasimene Acquisition Corp. II (NYSE: BFT, BFT WS) (“Foley Trasimene”), a special purpose acquisition company, at the special meeting of Foley Trasimene stockholders (the “Special Meeting”) held today, voted in favor of the proposed business combination (the “Business Combination”) with Paysafe Group Holdings Limited (“Paysafe”). The completion of the Business Combination is expected to occur on Tuesday, March 30, 2021, subject to the satisfaction or waiver of customary closing conditions. Following the completion of the Business Combination, the newly combined company will operate as Paysafe and trade on the New York Stock Exchange (NYSE) under the symbol “PSFE” and is expected to start trading on Wednesday, March 31.

About Cannae Holdings, Inc.

Cannae Holdings, Inc. (NYSE: CNNE) is engaged in actively managing and operating a group of companies and investments, as well as making additional majority and minority equity portfolio investments in businesses, in order to achieve superior financial performance and maximize the value of these assets. Cannae was founded and is led by investor William P. Foley, II. Foley is responsible for the creation and growth of over $140 Billion in publicly traded companies including Fidelity National Information Services (“FIS”), Fidelity National Financial (“FNF”), and Black Knight, Inc. (“BKI”). Cannae’s current principal holdings include Dun & Bradstreet Holdings, Inc. (“DNB”), which recently completed a successful business transformation and IPO. Cannae holds an approximately 18% interest in Dun & Bradstreet or ~76 Million shares. Cannae’s second principal holding is Ceridian (“CDAY”), which Foley transformed from a legacy payroll bureau into a leading cloud-based provider of human capital management software. Cannae owns 9.5% of Ceridian representing approximately 14 Million shares.

About Foley Trasimene Acquisition Corp. II

Foley Trasimene Acquisition Corp. II is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses or entities. For more information, please visit www.foleytrasimene2.com.

About Paysafe

Paysafe Group (Paysafe) is a leading specialized payments platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions. With over 20 years of online payment experience, an annualized transactional volume of US $92 billion in 2020, and approximately 3,400 employees located in 12+ global locations, Paysafe connects businesses and consumers across 70 payment types in over 40 currencies around the world. Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments. Further information is available at www.paysafe.com.

Forward-Looking Statements

This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements regarding our expectations, hopes, intentions or strategies regarding the future are forward-looking statements. Forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions, including changes in the financial markets; our potential inability to find suitable acquisition candidates, acquisitions in lines of business that will not necessarily be limited to our traditional areas of focus, or difficulties in integrating acquisitions; significant competition that our operating subsidiaries face; compliance with extensive government regulation of our operating subsidiaries; risks associated with our split-off from Fidelity National Financial, Inc., including limitations on our strategic and operating flexibility related to the tax-free nature of the split-off and the Investment Company Act of 1940 and Investment Advisers Act, as well as the risk and uncertainties related to the success of our externalization.

This press release should be read in conjunction with the risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of our Quarterly Reports on Form 10-Q, Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.

Jamie Lillis, Managing Director, Solebury Trout, 203-428-3223, [email protected]

Shannon Devine, Senior Vice President, Solebury Trout, 203-428-3228, [email protected]

KEYWORDS: Nevada United States North America

INDUSTRY KEYWORDS: Consulting Banking Professional Services Finance

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IIROC Trading Resumption – PCLO.WT

Canada NewsWire

VANCOUVER, BC, March 25, 2021 /CNW/ – Trading resumes in:

Company: Pharmacielo Ltd.

TSX-Venture Symbol: PCLO.WT

All Issues: No

Resumption (ET): 9:30 AM3/26/2021

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

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Arbor Realty Trust Announces Public Offering of Common Stock

UNIONDALE, N.Y., March 25, 2021 (GLOBE NEWSWIRE) — Arbor Realty Trust, Inc. (the “Company”) (NYSE: ABR) announced today that it plans to make a public offering of 7,000,000 shares of its common stock. In connection with the offering, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of its common stock.

The Company intends to use the net proceeds from the offering to make investments relating to its business and for general corporate purposes. The Company also intends to use a portion of the net proceeds from this offering to purchase (i) 350,000 shares of its common stock from its Chief Executive Officer, Arbor Commercial Mortgage, LLC and/or estate planning family vehicles established by its Chief Executive Officer (or 402,500 shares of its common stock if the underwriters exercise their option to purchase additional shares in full), (ii) 150,000 shares of its common stock from its Chief Financial Officer, (iii) 100,000 shares of its common stock from its Executive Vice President, Treasury and Servicing and (iv) 200,000 shares of its common stock from its Executive Vice President, Structured Securitization, at the same price the underwriters will purchase the shares in this offering.

J.P. Morgan, JMP Securities and Raymond James are joint book-running managers for the offering.

The offering will be made pursuant to an effective automatic shelf registration statement, previously filed by the Company with the Securities and Exchange Commission (“SEC”). The offering of these securities will be made only by means of a prospectus. Copies of the preliminary prospectus supplement and accompanying prospectus related to the offering may be obtained, when available, by contacting J.P. Morgan Securities LLC, Attention: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at [email protected]; JMP Securities LLC, 600 Montgomery Street, 10th Floor, San Francisco, CA 94111, Attention: Prospectus Department, or by calling (415) 835-8985, or by email at [email protected]; or Raymond James & Associates, Inc., Attention: Syndicate, 880 Carillon Parkway St. Petersburg, FL 33716, by telephone at (800) 248-8863, or by email at [email protected].

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


About Arbor Realty Trust, Inc.

Arbor Realty Trust, Inc. (NYSE: ABR) is a nationwide real estate investment trust and direct lender, providing loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets. Headquartered in New York, Arbor manages a multibillion-dollar servicing portfolio, specializing in government-sponsored enterprise products. Arbor is a Fannie Mae DUS® lender and Freddie Mac Optigo Seller/Servicer. Arbor’s product platform also includes CMBS, bridge, mezzanine and preferred equity lending.


Safe Harbor Statement

Certain items in this press release may constitute forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the proposed offering and the anticipated use of the net proceeds from the offering. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The Company can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, risks and uncertainties related to the completion of the offering on the anticipated terms or at all, market conditions, the satisfaction of customary closing conditions related to the offering, changes in economic conditions generally, and the real estate markets specifically, in particular, due to the uncertainties created by the COVID-19 pandemic, continued ability to source new investments, changes in interest rates and/or credit spreads, and other risks detailed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and its other reports filed with the SEC. Such forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with regard thereto or change in events, conditions, or circumstances on which any such statement is based.

   
Contacts:

Arbor Realty Trust, Inc.
Paul Elenio, Chief Financial Officer
516-506-4422
[email protected]		 Investors:
The Ruth Group
Daniel Kontoh-Boateng/James Salierno
646-536-7019/7028
[email protected]
[email protected]
   



Posted on

Prologis to Announce First Quarter 2021 Results April 19

PR Newswire

SAN FRANCISCO, March 25, 2021 /PRNewswire/ — Prologis, Inc. (NYSE: PLD), the global leader in logistics real estate, will host a webcast and conference call with senior management to discuss first quarter results, current market conditions and future outlook on Monday, April 19, 2021, at 9:00 a.m. PT/12:00 p.m. ET.

To access a live broadcast of the call, please dial +1 (833) 968-2252 (toll-free from the United States and Canada) or +1 (778) 560-2807 (from all other countries) and enter conference code 8881394. A live webcast can be accessed from the Investor Relations section of www.prologis.com.

A telephonic replay will be available April 19-May 3 at +1 (800) 585-8367 (from the United States and Canada) or +1 (416) 621-4642 (from all other countries) using conference code 8881394. The webcast replay will be posted in the Investor Relations section of www.prologis.com under “Events & Presentations”.

About Prologis
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 2020, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 984 million square feet (91 million square meters) in 19 countries. Prologis leases modern logistics facilities to a diverse base of approximately 5,500 customers principally across two major categories: business-to-business and retail/online fulfillment.

Forward-Looking Statements
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management’s beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” and “estimates,” including variations of such words and similar expressions, are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, development activity, contribution and disposition activity, general conditions in the geographic areas where we operate, our debt, capital structure and financial position, our ability to form new co-investment ventures and the availability of capital in existing or new co-investment ventures — are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic and political climates; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties; (v) maintenance of real estate investment trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; (x) risks related to the current coronavirus pandemic; and (xi) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading “Risk Factors.” We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law.

 

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SOURCE Prologis, Inc.