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Innate Pharma Proposes to Its Shareholders to Transform Its Corporate Governance Structure Into a Board of Directors and to Change Its Composition

Innate Pharma Proposes to Its Shareholders to Transform Its Corporate Governance Structure Into a Board of Directors and to Change Its Composition

  • Innate to propose to its Annual General Meeting taking place on May 22, 2025, to move from an executive board/supervisory board corporate governance structure to a CEO/board of directors
  • Irina Staatz-Granzer, current Chairwoman of the Supervisory board would be appointed Chairwoman of the board of Directors
  • Jonathan Dickinson, current Chairman of the Executive board would be appointed Chief Executive Officer and named to the board of Directors
  • Two new members would join the board of Directors

MARSEILLE, France–(BUSINESS WIRE)–
Regulatory News:

Innate Pharma SA (Euronext Paris: IPH; Nasdaq: IPHA) (“Innate” or the “Company”) today announced it will propose to its Annual General Meeting taking place on May 22, 2025, to move from an executive board/supervisory board corporate governance structure to one with a CEO/board of directors. This transformation is part of the Company’s strategic plan to simplify and align its governance with international standards.

It will be proposed that shareholders appoint, as members of the board of Directors, the following individuals:

  • Mrs. Irina Staatz Granzer;
  • Mr. Jonathan Dickinson;
  • Mrs. Véronique Chabernaud;
  • Mrs. Pascale Boissel;
  • Bpifrance Participations, represented by Mr. Olivier Martinez;
  • Mrs. Sally Bennett;
  • Mr. Christian Itin; and
  • Mr. Marty J. Duvall.

Mr. Itin and Duvall would be new members as would be Mr. Dickinson, currently Chairman of the Executive board. The other directors are currently members of the Supervisory board.

If shareholders approve this governance change and the proposed board of Directors composition the future board of Directors would appoint Mrs. Irina Staatz-Granzer as its Chairwoman and Mr. Jonathan Dickinson as Chief Executive Officer during its first meeting after the Annual General Meeting.

If shareholders do not approve the governance change, it would be proposed to renew the mandate of, or appoint, depending on each case, the individuals listed above as members of the Supervisory board. Mrs. Irina Staatz-Granzer would remain its Chairwoman. The Executive board composition would remain unchanged, and Mr. Jonathan Dickinson would remain its Chairman.

As part of the proposed changes, two current Supervisory board members would not join the future board of Directors, Mr. Gilles Brisson and Mr. Jean-Yves Blay.

Mr. Hervé Brailly, co-founder of Innate Pharma, has made the considered decision not to seek re-appointment to the board of Directors.

“I am pleased that Innate is proposing transformation to a board of Directors structure, which will be submitted for shareholder approval. This step marks an important milestone in aligning our governance model with international standards and reflects our commitment to implementing investor feedback to ensure continued progress and adoption of best practices,” said Jonathan Dickinson, Chairman of the Executive board of Innate Pharma

“On behalf of the Supervisory board, I would like to extend my sincere thanks to Mr. Hervé Brailly, Mr. Gilles Brisson and Mr. Jean-Yves Blay for their dedication and valuable support throughout their tenure. In particular, Mr. Hervé Brailly has been instrumental in leading and supporting the company’s development since inception, and we are very grateful to him for his seasoned guidance and commitment,” commented Irina Staatz-Granzer, Chairwoman of the Supervisory board of Innate Pharma. “The evolution to a board of Directors marks not only a structural evolution, but also a renewed commitment to strong governance and long-term value creation. In this context, we are also pleased to propose the appointment of two new international members, each bringing deep and strong experience in the biotech and pharmaceutical industry. Their knowledge and perspective will be key assets as we enter this next chapter.”

Information about the new members to join the board of Directors

Mr. Marty J. Duvall

Global Builder of Companies and Brands in Oncology

Marty J. Duvall is an accomplished and passionate biotech executive based in the U.S., with over 35 years of experience building companies in the pharma and biotechnology industry, focused in specialty therapeutics.

Mr. Duvall’s big pharma experience includes global oncology leadership positions at Aventis and Merck. His biotech experience includes C-level contributions to company builds leading to value-creating transactions at MGI Pharma, Abraxis Bioscience, and ARIAD, where he worked to build a footprint across the US, Europe and Asia.

His CEO experience includes both public companies (Tocagen and Oncopeptides) as well as private companies (Angiex) and includes a successful IPO and follow-on financings under his leadership.

With an oncology focus over the last three decades, Marty J. Duvall has helped launch and drive many successful therapeutics that have benefited patients with a wide range of cancers, including breast, lung, prostate, gastric, head and neck, brain, melanoma, myelodysplastic syndrome, leukemia, and multiple myeloma.

Dr Christian Itin

CEO of Autolus

Christian Itin is a very seasoned biotechnology company leader with more than 25 years of industry experience. He currently serves as CEO of Autolus Therapeutics (Nasdaq: AUTL). He built Autolus into a fully integrated biopharmaceutical, company commercializing its first CART cell therapy product Aucatzyl® approved by the US FDA in November 2024.

Previously, Christian was President and Chief Executive Officer of Micromet Inc., a formerly Nasdaq-listed biopharmaceutical company acquired in March 2012 by Amgen, Inc. for USD 1.2 billion. Micromet developed the first T-cell engaging antibody Blincyto®, now standard of care for the treatment of B-cell acute leukaemia.

From 2016 to 2019 Christian was on the board of Kuros Biosciences (SIX: KURN) serving as chairman from 2016 to 2018. Prior to Kuros he served as executive chairman of Cytos Biotechnology Ltd from 2012 to 2016 until its merger with Kuros Biosurgery, forming Kuros Biosciences. Kuros developed and is commercializing MagnetOS™, a synthetic bone graft replacing bone allo-or xenografts. Christian also served as non-executive director on the board of Kymab, Ltd, a privately held UK company from 2012 until its acquisition by Sanofi in 2021 for a USD 1.1 billion upfront payment plus additional milestones.

He has a diploma in biology and holds a PhD in cell biology summa cum laude from the University of Basel, Switzerland and performed post-doctoral research at the Biocenter of Basel University and at Stanford University School of Medicine, CA, USA.

About Innate Pharma

Innate Pharma S.A. is a global, clinical-stage biotechnology company developing immunotherapies for cancer patients. Its innovative approach aims to harness the innate immune system through three therapeutic approaches: multi-specific NK Cell Engagers via its ANKET® (Antibody-based NK cell Engager Therapeutics) proprietary platform and Antibody Drug Conjugates (ADC) and monoclonal antibodies (mAbs).

Innate’s portfolio includes several ANKET® drug candidates to address multiple tumor types as well as IPH4502, a differentiated ADC in development in solid tumors. In addition, anti-KIR3DL2 mAb lacutamab is developed in advanced form of cutaneous T cell lymphomas and peripheral T cell lymphomas, and anti-NKG2A mAb monalizumab is developed with AstraZeneca in non-small cell lung cancer.

Innate Pharma is a trusted partner to biopharmaceutical companies such as Sanofi and AstraZeneca, as well as leading research institutions, to accelerate innovation, research and development for the benefit of patients.

Headquartered in Marseille, France with a US office in Rockville, MD, Innate Pharma is listed on Euronext Paris and Nasdaq in the US.

Learn more about Innate Pharma at www.innate-pharma.com. Follow us on LinkedIn and X.

Information about Innate Pharma shares

ISIN code

Ticker code

LEI

FR0010331421

Euronext: IPH Nasdaq: IPHA

9695002Y8420ZB8HJE29

Disclaimer on forward-looking information and risk factors

This press release contains certain forward-looking statements, including those within the meaning of applicable securities laws, including the Private Securities Litigation Reform Act of 1995. The use of certain words, including “anticipate,” “believe,” “can,” “could,” “estimate,” “expect,” “may,” “might,” “potential,” “expect” “should,” “will,” or the negative of these and similar expressions, is intended to identify forward-looking statements. Although the Company believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks and uncertainties include, among other things, the uncertainties inherent in research and development, including related to safety, progression of and results from its ongoing and planned clinical trials and preclinical studies, review and approvals by regulatory authorities of its product candidates, the Company’s reliance on third parties to manufacture its product candidates, the Company’s commercialization efforts and the Company’s continued ability to raise capital to fund its development. For an additional discussion of risks and uncertainties, which could cause the Company’s actual results, financial condition, performance or achievements to differ from those contained in the forward-looking statements, please refer to the Risk Factors (“Facteurs de Risque”) section of the Universal Registration Document filed with the French Financial Markets Authority (“AMF”), which is available on the AMF website http://www.amf-france.org or on Innate Pharma’s website, and public filings and reports filed with the U.S. Securities and Exchange Commission (“SEC”), including the Company’s Annual Report on Form 20-F for the year ended December 31, 2023, and subsequent filings and reports filed with the AMF or SEC, or otherwise made public by the Company. References to the Company’s website and the AMF website are included for information only and the content contained therein, or that can be accessed through them, are not incorporated by reference into, and do not constitute a part of, this press release.

In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by the Company or any other person that the Company will achieve its objectives and plans in any specified time frame or at all. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

This press release and the information contained herein do not constitute an offer to sell or a solicitation of an offer to buy or subscribe to shares in Innate Pharma in any country.

For additional information, please contact:

Investors

Innate Pharma

Henry Wheeler

Tel.: +33 (0)4 84 90 32 88

[email protected]

Media Relations

NewCap

Arthur Rouillé

Tel.: +33 (0)1 44 71 00 15

[email protected]

KEYWORDS: Europe United States North America France Maryland

INDUSTRY KEYWORDS: General Health Pharmaceutical Health

MEDIA:

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Innate Pharma to Hold Its Annual General Meeting of Shareholders on May 22, 2025

Innate Pharma to Hold Its Annual General Meeting of Shareholders on May 22, 2025

MARSEILLE, France–(BUSINESS WIRE)–
Regulatory News: 

Innate Pharma SA (Euronext Paris: IPH; Nasdaq: IPHA) (“Innate” or the “Company”) will hold its annual general meeting of shareholders (“AGM”) at 10:30 a.m. CEST on May 22, 2025 in its headquarters, 117 avenue de Luminy, 13009 Marseille.

The Notice of Meeting of this AGM was published on April 16, 2025 in the French legal bulletin. It includes the agenda, the proposed resolutions as well as instructions to participate and vote in this AGM.

Documents and information relating to this meeting will be made available to shareholders in accordance with current regulations, and will also be available in the Investors section of the Company’s website.

****

The annual general meeting will also be broadcasted live and available at the following link:

Innate Pharma 2025 annual general meeting

A guided tour of the Company’s laboratories is organized on the same day at 9:15 a.m. CEST for shareholders. Shareholders can register for the tour at this link: company laboratories tour registration form.

****

Precision regarding the AGM:

Only shareholders having registered their shares at least two business days prior to the date of the AGM, by zero hour Paris time, will be able to participate.

Shareholders holding “au porteur” (bearer) shares will need to obtain an “attestation de participation” (certificate of shareholding) from their brokers. This “attestation de participation” must be attached to the voting or proxy form.

Written questions from shareholders must be received four business days prior to the AGM at the latest (by e-mail to [email protected]).

Shareholders can also obtain the documents and information in preparation of the AGM (as described in article R. 225-83 of the French Code de Commerce) by sending a request by e-mail to [email protected].

About Innate Pharma

Innate Pharma S.A. is a global, clinical-stage biotechnology company developing immunotherapies for cancer patients. Its innovative approach aims to harness the innate immune system through three therapeutic approaches: multi-specific NK Cell Engagers via its ANKET® (Antibody-based NK cell Engager Therapeutics) proprietary platform and Antibody Drug Conjugates (ADC) and monoclonal antibodies (mAbs).

Innate’s portfolio includes several ANKET® drug candidates to address multiple tumor types as well as IPH4502, a differentiated ADC in development in solid tumors. In addition, anti-KIR3DL2 mAb lacutamab is developed in advanced form of cutaneous T cell lymphomas and peripheral T cell lymphomas, and anti-NKG2A mAb monalizumab is developed with AstraZeneca in non-small cell lung cancer.

Innate Pharma is a trusted partner to biopharmaceutical companies such as Sanofi and AstraZeneca, as well as leading research institutions, to accelerate innovation, research and development for the benefit of patients.

Headquartered in Marseille, France with a US office in Rockville, MD, Innate Pharma is listed on Euronext Paris and Nasdaq in the US.

Learn more about Innate Pharma at www.innate-pharma.com. Follow us on LinkedIn and X.

Information about Innate Pharma shares

ISIN code

Ticker code

LEI

FR0010331421

Euronext: IPH Nasdaq: IPHA

9695002Y8420ZB8HJE29

Disclaimer on forward-looking information and risk factors

This press release contains certain forward-looking statements, including those within the meaning of applicable securities laws, including the Private Securities Litigation Reform Act of 1995. The use of certain words, including “anticipate,” “believe,” “can,” “could,” “estimate,” “expect,” “may,” “might,” “potential,” “expect” “should,” “will,” or the negative of these and similar expressions, is intended to identify forward-looking statements. Although the Company believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks and uncertainties include, among other things, the uncertainties inherent in research and development, including related to safety, progression of and results from its ongoing and planned clinical trials and preclinical studies, review and approvals by regulatory authorities of its product candidates, the Company’s reliance on third parties to manufacture its product candidates, the Company’s commercialization efforts and the Company’s continued ability to raise capital to fund its development. For an additional discussion of risks and uncertainties, which could cause the Company’s actual results, financial condition, performance or achievements to differ from those contained in the forward-looking statements, please refer to the Risk Factors (“Facteurs de Risque”) section of the Universal Registration Document filed with the French Financial Markets Authority (“AMF”), which is available on the AMF website http://www.amf-france.org or on Innate Pharma’s website, and public filings and reports filed with the U.S. Securities and Exchange Commission (“SEC”), including the Company’s Annual Report on Form 20-F for the year ended December 31, 2023, and subsequent filings and reports filed with the AMF or SEC, or otherwise made public by the Company. References to the Company’s website and the AMF website are included for information only and the content contained therein, or that can be accessed through them, are not incorporated by reference into, and do not constitute a part of, this press release.

In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by the Company or any other person that the Company will achieve its objectives and plans in any specified time frame or at all. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

This press release and the information contained herein do not constitute an offer to sell or a solicitation of an offer to buy or subscribe to shares in Innate Pharma in any country.

For additional information, please contact:

Investors

Innate Pharma

Henry Wheeler

Tel.: +33 (0)4 84 90 32 88

[email protected]

Media Relations

NewCap

Arthur Rouillé

Tel.: +33 (0)1 44 71 00 15

[email protected]

KEYWORDS: Europe United States North America France Maryland

INDUSTRY KEYWORDS: Oncology Health Research Pharmaceutical Science Biotechnology

MEDIA:

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AI Is Redefining Tech Infrastructure Priorities: Seagate Report Calls for Balance Between Cost and Carbon

AI Is Redefining Tech Infrastructure Priorities: Seagate Report Calls for Balance Between Cost and Carbon

New Seagate Report urges data center ecosystem to shift from fragmented efforts to a unified sustainability approach

FREMONT, Calif.–(BUSINESS WIRE)–
Seagate Technology Holdings plc (NASDAQ: STX), a leader in mass-capacity data storage, today released the Decarbonizing Data1 report, its latest global report based on a commissioned survey, highlighting the growing sustainability challenges facing data centers as enterprises scale to meet the demands of AI.

Goldman Sachs Research forecasts global power demand from data centers will increase by as much as 165% by 2030, compared with 2023. Seagate’s new report reveals that energy usage is now a top concern for 53.5% of business leaders. The rising data volumes, slowing power efficiency gains, and increasing AI adoption are putting pressure on organizations to manage carbon emissions, infrastructure expansion, and total cost of ownership (TCO) – all at once.

Key Findings:

  • AI to spur a wave of demand for data storage: 94.5% of respondents reported increasing data storage needs, with 97% anticipating AI’s growth to further impact storage demand.
  • Environmental impact vs. total cost of ownership: Nearly 95% of respondents are concerned about environmental impact, but only 3.3% prioritize it in purchasing decisions.
  • Top barriers in driving sustainability at data centers: High energy consumption (53.5%), raw material requirements (49.5%), physical space constraints (45.5%), infrastructure costs (28.5%), and acquisition costs (27%)
  • Disconnect in life cycle management: 92.2% acknowledge the importance of extending the life cycle of storage equipment, but only 15.5% consider it a top purchasing factor.

“Data centers are under intense scrutiny – not only because they support modern AI workloads, but because they are becoming one of the most energy-intensive sectors of the digital economy,” said Jason Feist, senior vice president of cloud marketing, Seagate. “This calls for a fundamental shift in how we think about data infrastructure – not as a trade-off between cost and sustainability, but as an opportunity to optimize for both.”

As organizations expand their data capabilities, they face three options: improve efficiency within existing infrastructure, expand data center footprint, or migrate workloads to the cloud. Each option involves trade-offs between cost, carbon, and control, indicating that total cost of ownership and sustainability can be compatible goals. Decisions on energy consumption, space utilization, raw material use, and infrastructure investment now impact both business performance and environmental outcomes.

To support the industry in navigating this shift, the Decarbonizing Data report outlines three strategic pillars for building a more sustainable data future:

  • Technological Innovation: Technological innovation remains a key driver of sustainable transformation. Advances in computational power, storage areal density, and energy-efficient technologies like liquid/immersion cooling and HVAC systems can significantly lower energy consumption and carbon emissions, effectively managing the growing demand profile. Seagate’s HAMR-based Mozaic 3+ platform, now in volume production, enables up to 3 times more capacity in the same footprint, reduces embodied carbon by over 70% per terabyte2, and lowers cost per terabyte by 25%3.
  • Commitment to life cycle extension and circularity: Refurbishing, reusing, and maintaining storage equipment extends lifespan and reduces waste. Real-time environmental monitoring and transparent reporting can foster accountability across the data center environment.
  • Share accountability across the ecosystem: Achieving meaningful emissions reduction – across Scopes 1, 2, and 3 as outlined in the report– requires collaboration across the entire value chain, including vendors, suppliers, and cloud service providers.

“Sustainability cannot be solved in isolation. A holistic approach spanning infrastructure, life cycle management, and industry-wide accountability could ensure that the growth of AI and data center operations does not come at the expense of the environment,” said Jason Feist.

To view the comprehensive survey results and analysis, download the full Decarbonizing Data report: https://www.seagate.com/resources/decarbonizing-data-report/.

  1. Seagate Technology’s Decarbonizing Data report is based on a commissioned global study conducted by independent research firm Dynata, with fieldwork by global communications consultancy Current Global. Interviews were conducted with experts in the field of data storage and infrastructure, and a multi-market online survey was conducted with 330 data center professionals responding across 11 markets, including Australia, China, France, Germany, India, Japan, North America, Singapore, South Korea, Taiwan, and the United Kingdom.
  2. Method: 10TB to 30TB capacity upgrade comparing Exos X10 to Exos X 30TB Mozaic drive, a common drive capacity needing upgrade at data centers today.
  3. Source: IDC Worldwide 1Q24 HDD Shipments and 4-Quarter Outlook by HDD Segment. May 2024. IDC #US52080224

About Seagate Technology

Seagate is a leader in mass-capacity data storage. We have delivered more than four and a half billion terabytes of capacity over the past four decades. We make storage that scales, bringing trust and integrity to innovations that depend on data. In an era of unprecedented creation, Seagate stores infinite potential. To learn more about how Seagate leads storage innovation, visit www.seagate.com and our blog, or follow us on X, Facebook, LinkedIn, and YouTube.

©2025 Seagate Technology LLC. All rights reserved. Seagate, Seagate Technology, and the Spiral logo are trademarks or registered trademarks of Seagate Technology LLC in the United States and/or other countries. All other trademarks or registered trademarks are the property of their respective owners.

For More Information Contact:

Nari Yoon

[email protected]

Jan Jee Chong

[email protected]

Karin Taylor

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Data Management Technology VoIP Audio/Video Telecommunications Artificial Intelligence Internet

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Tigo Energy Expands EI Residential with Smart Heating Integration at Intersolar Europe

Tigo Energy Expands EI Residential with Smart Heating Integration at Intersolar Europe

Tigo to showcase new GO Junction and TS4-X platform, as well as fully integrated solar, storage, mobility, and heating solution for evolving needs of the European market.

MONTEVARCHI, Italy–(BUSINESS WIRE)–Tigo Energy, Inc. (NASDAQ: TYGO) (“Tigo,” “Company”), a leading provider of intelligent solar and energy software solutions, will feature its latest innovations for residential as well as Commercial and Industrial (C&I) solar installers at Intersolar Europe, in Munich, Germany from May 7-9. Highlighted products will include the new Tigo GO Junction, the latest addition to the EI Residential solar and storage ecosystem and the key connection between photovoltaic (PV) generation, energy management, and home heating, which completes the Tigo residential solution.

With more than one million heat pumps installed in Germany over the past five years – and projections pointing to as many as ten million units by 2030 – the residential heating market has entered a phase of convergence between clean energy and smart technologies. In this new landscape, systems can now intelligently manage PV production, energy storage, and household loads, unlocking new methods to accelerate the transition to solar while also addressing the economic impact of heating gas expenses. To automate this energy arbitrage, Tigo introduces the GO Junction to the European market as an innovative add-on device that extends the EI Residential ecosystem to smart heating. Just as the Tigo GO EV Charger brings e-mobility into the residential energy ecosystem, GO Junction enables the seamless integration and intelligent management of third-party heat pumps within the Energy Intelligence software platform, completing the vision of a fully integrated home energy system.

“We know the EI Residential solution well because we’ve been installing it regularly for some time, and we have always appreciated the reliability and integration between all of its components,” said Georg Kreitmair, Managing Director at Weiss-Blau GmbH, a Tigo-Advanced Installer in Germany. “A direct connection to the heat pump was the next logical step, but it was also increasingly requested by customers focused on maximizing self-consumption. With the arrival of the Tigo GO Junction, we can now deliver a truly holistic solution where energy generation, storage, and management work together in a simple and coordinated way. A fully integrated Tigo system also makes installation more straightforward and brings real added value to the end user.”

The Tigo booth at Intersolar will include a fully operational EI Residential system to showcase a cohesive solution that brings together every element of solar generation, storage, and energy management. The system features TS4 Flex MLPE, single- and three-phase inverters, modular battery storage, and the EI Link which consolidates all system wiring, communication, and a full backup system into a single, compact cabinet. Visitors can see the two latest Tigo ecosystem extensions: the GO EV Charger, which integrates e-mobility directly into the platform, and the brand-new GO Junction, designed to bring heat pumps into the energy management mix. Together, these innovations demonstrate that the EI Residential system has evolved into a truly all-in-one energy solution for modern homes – smart, scalable, and energy transition-ready.

“The Tigo GO Junction represents more than a technological evolution, it’s a solution that originates directly from the experiences and needs the installers who work with our systems daily shared with us,” said Mirko Bindi, Senior VP of Sales EMEA & MD Europe at Tigo Energy. “By turning installer input into real solutions through ongoing dialogue, we close an important feedback loop with the market. Our commitment to Total Quality Solar (TQS) guides us in delivering excellence at every stage of the solar supply chain–from product development and manufacturing to installation and long-term serviceability. As a continuous process, the TQS spirit defines the standard to which we hold our operations, even beyond the corporate walls.”

European PV professionals visiting Intersolar in Munich can also learn about the full range of TS4 Flex MLPE products, including the TS4-X, which delivers a powerful new platform with advanced functionality in a family of modular devices. Designed to meet the demands of today’s high-power solar modules, TS4-X combines optimization, monitoring, and rapid shutdown–or a combination thereof–in one flexible solution. All performance data, as well as the amount of energy recovered with optimization (Reclaimed Energy) can be viewed and analyzed through the Energy Intelligence software platform, which provides both installers and system owners with enhanced control, comprehensive diagnostics, and smarter energy management across the entire PV fleet.

For updates on the latest developments related to Tigo solutions, installation best practices, or the Green Glove service program, schedule a meeting with the Tigo Customer Success technical team at Intersolar Europe at Messe München, Hall B4, Booth 160, from May 7-9, 2025 by filling out a short form on the dedicated trade show page.

About Tigo Energy

Founded in 2007, Tigo Energy, Inc. (Nasdaq: TYGO) is a worldwide leader in the development and provider of smart hardware and software solutions that enhance safety, increase energy yield, and lower operating costs of residential, commercial, and utility-scale solar systems. Tigo combines its Flex MLPE (Module Level Power Electronics) and solar optimizer technology with intelligent, cloud-based software capabilities for advanced energy monitoring and control. Tigo MLPE products maximize performance, enable real-time energy monitoring, and provide code-required rapid shutdown at the module level. The company also develops and manufactures products such as inverters and battery storage systems for the residential solar-plus-storage market. For more information, please visit www.tigoenergy.com.

Technica Communications for Tigo Energy

Luis de Leon

Email: [email protected]

KEYWORDS: Italy Europe

INDUSTRY KEYWORDS: Environment Technology Construction & Property Other Energy Software Building Systems Alternative Energy Green Technology Energy Hardware

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IFF Opens Dubai Creative Center With Perfumery Art Studio

IFF Opens Dubai Creative Center With Perfumery Art Studio

Creative Center will focus on co-creation and innovation for the regional perfumery market

DUBAI, United Arab Emirates–(BUSINESS WIRE)–IFF (NYSE: IFF) announced the inauguration of its Scent Dubai Creative Center, a 2,000-square-meter addition to the company’s facility in the Dubai Science Park Laboratory Complex. The added facility strengthens IFF’s capabilities to serve customers with leading fragrance innovations in one of the fastest-growing regions in the global scent industry.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250415038625/en/

“The Middle East is a key market for IFF’s global growth,” said Erik Fyrwald, IFF CEO. “It’s expected to top $7 billion by 2034, thanks to greater online access, increasing disposable income, strong demand for luxury and long-standing cultural ties to smell. The Dubai Creative Center will strengthen our ability to continue winning with customers by delivering leading innovative solutions for local tastes in fine and consumer fragrance even faster.”

Complete with cutting-edge technology and resources, the center features artistic and design inspiration from local and regional cultural heritage. It includes a perfumery art studio for co-creation with customers, a majlis—a traditional Middle Eastern sitting room—and an academy for perfumery training. It is also equipped with a semi-industrial production robot to accelerate speed to market. IFF’s Scent Dubai Creative Center will enable the company to cater to the region’s unique and evolving consumer demands, working with customers to create solutions in scent performance, delivery systems and scent engineering, among others.

“Our new creative center features a significant number of evaluation booths for all scent categories, from fine fragrances to home, fabric, and beauty care, along with a full suite of advanced fragrance technologies,” said Ana Paula Mendonça, president of IFF Scent. “This enables our experts to craft fragrances that excel in desirability, superiority and performance, ensuring every scent solution perfectly addresses different consumer touchpoints.”

“The center’s perfumery art studio is a local extension of IFF’s Atelier du Perfumeur in Grasse and its Shanghai Perfumery Art Studio,” said Sabrya Meflah, president of fine fragrance, IFF Scent. “These serve as creative spaces where perfumery artists from around the world can demonstrate their leadership and talent alongside local, regional and global brands.”

IFF’s scent team has been present in Dubai for over 15 years. Its creative voice in the Middle Eastern perfumery market has been instrumental in the global expansion of leading regional brands, creating scents that have become global icons beyond the region, supporting the global fine fragrance category growth. IFF’s Dubai Science Park site also serves customers in food and beverage with solutions in taste, food ingredients and food biosciences.

Cautionary Statement under the Private Securities Litigation Reform Act of 1995

This press release contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as “”plan”, “expect,” “anticipate,” “intend,” “believe,” “seek,” “see,” “will,” “would,” “target,” similar expressions, and variations or negatives of these words. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about new facility. The forward-looking statements included in this release are made only as of the date hereof, and we undertake no obligation to update the forward-looking statement to reflect subsequent events or circumstances.

Welcome to IFF

At IFF (NYSE: IFF), we make joy through science, creativity and heart. As the global leader in flavors, fragrances, food ingredients, health and biosciences, we deliver groundbreaking, sustainable innovations that elevate everyday products—advancing wellness, delighting the senses and enhancing the human experience.Learn more at iff.com, LinkedIn, Instagram and Facebook.

©2025 International Flavors & Fragrances Inc. (IFF). IFF, the IFF Logo, and all trademarks and service marks denoted with ™, ℠ or ® are owned by IFF or affiliates of IFF unless otherwise noted. All Rights Reserved.

Media Relations:

Paulina Heinkel

332.877.5339

[email protected]

Investor Relations:

Michael Bender

212.708.7263

[email protected]

KEYWORDS: United States United Arab Emirates North America Middle East New York

INDUSTRY KEYWORDS: Food/Beverage Home Goods Cosmetics Retail Specialty

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TELUS ANNOUNCES INAUGURAL JUNIOR SUBORDINATED NOTE OFFERING

PR Newswire


Base shelf prospectus is accessible, and prospectus supplement will be accessible within two business days, through SEDAR+

6.25% Fixed-to-Fixed Rate Junior Subordinated Notes, Series CAR due July 21, 2055

6.75% Fixed-to-Fixed Rate Junior Subordinated Notes, Series CAS due July 21, 2055


VANCOUVER, BC
, April 15, 2025 /PRNewswire/ – TELUS announced today it has priced $1.6 billion of fixed-to-fixed rate junior subordinated notes in two series, each with a 30.25-year maturity. The notes are offered through a syndicate of agents led by RBC Dominion Securities Inc., Scotia Capital Inc. and TD Securities Inc. Closing of the offering is expected to occur on or about April 21, 2025.

The 6.25% fixed-to-fixed rate junior subordinated notes, Series CAR, were priced at $99.965 per $100 principal amount for an initial effective yield of 6.25% per annum until July 21, 2030, and will mature on July 21, 2055. The 6.25% fixed-to-fixed rate junior subordinated notes, Series CAR will initially bear interest at a rate of 6.25% per annum and reset every five years starting July 21, 2030 to the prevailing five-year Government of Canada rate plus 3.482%, provided that the interest rate during any five-year interest period will not reset below 6.25%.

The 6.75% fixed-to-fixed rate junior subordinated notes, Series CAS, were priced at $99.959 per $100 principal amount for an initial effective yield of 6.75% per annum until July 21, 2035, and will mature on July 21, 2055. The 6.75% fixed-to-fixed rate junior subordinated notes, Series CAS will initially bear interest at a rate of 6.75% per annum and reset every five years starting July 21, 2035 to the prevailing five-year Government of Canada rate plus 3.609%, provided that the interest rate during any five-year interest period will not reset below 6.75%.

The net proceeds will be used for the repayment of outstanding indebtedness, including the repayment of commercial paper (incurred for general working capital purposes), the reduction of cash amounts outstanding under the receivables trust (incurred for general working capital purposes), the repayment of TELUS Corporation credit facility amounts outstanding, and for other general corporate purposes.

TELUS has been advised that credit rating agencies that have rated these notes have assigned 50% equity credit to the notes.

This media release does not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The securities being offered have not been approved or disapproved by any Canadian securities regulatory authority, nor has any authority passed upon the accuracy or adequacy of the short form base shelf prospectus or the prospectus supplement. The notes have not been registered under the U.S. Securities Act of 1933, as amended, and no notes are being offered in the United States or to or for the account or benefit of any U.S. person.

The notes are being offered pursuant to a prospectus supplement to the short form base shelf prospectus of TELUS dated August 2, 2024. The prospectus supplement and the corresponding short form base shelf prospectus contain important detailed information about the notes. Access to the prospectus supplement and the base shelf prospectus, and any amendments to the thereto, are provided in accordance with securities legislation relating to the procedures for providing access to such documents. An electronic or paper copy of the prospectus supplement and corresponding short form base shelf prospectus relating to the offering of notes may be obtained, without charge, from the Chief Legal and Governance Officer of TELUS at 510 W. Georgia St., 23rd Floor, Vancouver, British Columbia V6B 0M3 (telephone 604-695-6420) or from RBC Dominion Securities Inc. by phone at 416-842-6311 or email at [email protected], Scotia Capital Inc. by phone at 416-863-7438 or email at [email protected] or TD Securities Inc. by phone at 416-982-2243 or email at [email protected] by providing an email address or mailing address, as applicable. Copies of these documents will be accessible electronically within two business days of the date hereof on the System for Electronic Data Analysis and Retrieval+ (“SEDAR+”) of the Canadian Securities Administrators, at www.sedarplus.ca. Investors should read the short form base shelf prospectus and prospectus supplement before making an investment decision.

Forward-Looking Statements

This news release contains statements about future events pertaining to the offering, including the anticipated closing date of the offering and the intended use of the net proceeds of the offering. By their nature, forward-looking statements require us to make assumptions and predictions and are subject to inherent risks and uncertainties including risks associated with capital and debt markets. There is significant risk that the forward-looking statements will not prove to be accurate. The timing and closing of the above-mentioned offering are subject to customary closing conditions and other risks and uncertainties. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual future performance and events to differ materially from those described in the forward-looking statements. Accordingly, this news release is subject to the disclaimer and the qualifications and risk factors as set out in our 2024 annual management’s discussion and analysis and in other TELUS public disclosure documents and filings with securities commissions in Canada (on SEDAR+ at sedarplus.ca) and in the United States (on EDGAR at sec.gov). The forward-looking statements contained in this news release describe our expectations at the date of this news release and, accordingly, are subject to change after such date. Except as required by law, TELUS disclaims any intention or obligation to update or revise forward-looking statements.

About TELUS

TELUS (TSX: T, NYSE: TU) is a world-leading communications technology company, generating over $20 billion in annual revenue with more than 20 million customer connections through our advanced suite of broadband services for consumers, businesses and the public sector. We are committed to leveraging our technology to enable remarkable human outcomes. TELUS is passionate about putting our customers and communities first, leading the way globally in client service excellence and social capitalism. Our TELUS Health business is enhancing 76 million lives worldwide through innovative preventive medicine and well-being technologies. Our TELUS Agriculture & Consumer Goods business utilizes digital technologies and data insights to optimize the connection between producers and consumers. Guided by our enduring ‘give where we live’ philosophy, TELUS, our team members and retirees have contributed $1.8 billion in cash, in-kind contributions, time and programs including 2.4 million days of service since 2000, earning us the distinction of the world’s most giving company. For more information, please visit telus.com or follow @TELUSNews on X and @Darren_Entwistle on Instagram.

Investor Relations

Ian McMillan


[email protected]

Media Relations

Steve Beisswanger


[email protected]

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SOURCE TELUS Corporation

Posted on

Nauticus Robotics Announces Results for Year-End 2024

PR Newswire


HOUSTON
, April 15, 2025 /PRNewswire/ — Nauticus Robotics, Inc. (“Nauticus” or “Company) (NASDAQ: KITT), a leading innovator in subsea robotics and software, today announced its financial results for the year-end December 31, 2024.

John Gibson, Nauticus Robotics President and CEO, stated, “I am proud to be part of this amazing team giving their all to make Nauticus a premier offshore technology provider. I thank the employees, investors, shareholders, and all those following our journey for your unwavering support.”

Company Highlights

Nauticus experienced a transformational year in 2024. The company’s shift from a research and development company into a commercial, revenue generating company is well underway. The company continues to deliver high-value solutions to customers by pushing technological boundaries.  

2025 will continue to be a year of change as Nauticus works to transition offshore inspection operations from fully tethered execution to autonomous, untethered execution. The company’s combined offering of an Aquanaut vehicle and a remotely operated vehicle (ROV) on a single vessel is already sparking customer discussions on better ways of working. They are showing eagerness to fit this operational model into their current plans and are already thinking of how their execution models will change.

Operational Highlights

The Aquanaut vehicle completed its first deepwater testing in 2024 that resulted in immediate commercial work by the end of the season. Due to this success, Nauticus is executing contracts with current customers to perform their 2025 Gulf Coast scope. Discussions with new customers are ongoing and expected to further increase the offshore pipeline. Two Aquanaut vehicles are now built and undergoing their final checks before the start of the season.

The ToolKITT software team confirmed operations on an existing ROV in the fourth quarter of 2024. The initial tests reinforced the idea that augmenting an ROV’s existing software will enable customers to reduce their overall subsea operational cost. The team continues to build out the software and is targeting its first commercial ToolKITT ROV product release in 2025.

In 2024, the Olympic Arm team completed its initial design of the fit-for-purpose electric manipulator for installation on Aquanaut vehicles and existing ROVs. The team expects these first units to be complete and tested in 2025 for installation on an Aquanaut vehicle by the end of the year. This will make Aquanaut the first autonomous underwater vehicle with autonomous manipulators.

The Government team worked with its largest customer throughout 2024 to establish a formal alliance to address emerging challenges. Governmental contracting has longer lead time, larger upside, and greater stability than seasonal commercial contracts. The team is eager to pursue these opportunities.

In 2024, Nauticus began acquisition discussions with SeaTrepid International as a complementary business strategy. The company was pleased to announce the completion of the acquisition in Q1 of 2025. SeaTrepid brings a wealth of offshore operational experience and customer relationships. Existing SeaTrepid customers and contract relationships provide easy access to a broader group of early adopters. SeaTrepid and Nauticus legacy customers are welcoming this combined offering of a vessel with both an Aquanaut vehicle and an ROV onboard. By installing ToolKITT on both vehicles, the first subsea robotic collaboration solution will be realized, and customers should see the immediate value. SeaTrepid’s location in Robert, Louisiana provides a testing facility with closer proximity to the launching location for offshore Gulf Coast operations, improving logistics and reducing costs.

Nauticus looks forward to an exciting 2025. The company believes it is well positioned to have substantial revenue growth and margin improvement year over year.

Financial Highlights

Revenue: Nauticus reported fourth-quarter revenue of $0.5 million, compared to $1.1 million for the prior-year period and $0.4 million for the prior quarter. Full year revenue for 2024 was $1.8 million compared to $6.6 million for full year 2023.

Operating Expenses: Total expenses during the fourth quarter were $6.5 million, a $28.8 million decrease from the prior-year period and a $0.6 million increase from Q3 2024. Total expenses for full year 2024 were $24.9 million, a decrease of $36.8 million from the prior year.  Prior year fourth quarter included impairment of property and equipment costs of $25.4 million.

Adjusted Net Loss: Nauticus reported adjusted net loss of $6.9 million for the fourth quarter, compared to an adjusted net loss of $8.8 million for the same period in 2023. The adjusted net loss for full year 2024 was $26.1 million, compared to an adjusted net loss of $34.3 million for the prior year. Adjusted net loss is a non-GAAP measure which excludes the impact of certain items, as shown in the non-GAAP reconciliation table below.

Net Loss: For the fourth quarter, Nauticus recorded a net loss of $84.5 million, or basic loss per share of $21.59. This compares with a net loss of $39.5 million from the same period in 2023, and a net income of $17.9 million in the prior quarter. A net loss of $134.9 million, or basic loss per share of $36.73 was reported for full year 2024 compared to a net loss of $50.7 million for the prior year.

This net loss includes a non-cash impact for debt and warrant accounting of $77.2 million in the fourth quarter and $106.4 million for the full year.

2024 G&A Cost: Nauticus reported G&A fourth-quarter costs of $3.9 million, which is an increase of $2.7million compared to the same period in 2023 and a $1.1 million increase from the third quarter. G&A costs for full year 2024 were $13.4 million, a decrease of $4.9 million from the prior year.  The fourth quarter of 2024 includes bonus costs of $0.9 million.

Balance Sheet and Liquidity

As of December 31, 2024, the Company had cash and cash equivalents of $1.2 million, compared to $0.8 million as of December 31, 2023.

In Q1 2025 the Company conducted At The Market offerings, in which it issued and sold almost 7.5 million shares for net proceeds of $19.4 million.

Restated Financials

Restated financials were also filed on April 15, 2025 for the quarters ended March 31, June 30 and September 30 2024 due to a correction of accounting treatment for a Q1 2024 debt transaction.

Conference Call Details

Nauticus will host a conference call on April 16, 2025 at 9:00 a.m. Central Time (10:00 a.m. Eastern) to discuss its results for the fourth quarter and full year ending December 31, 2024. To participate in the earnings conference call, participants should dial toll free at +1-800-549-8228, conference ID: 38945, or access the listen-only webcast at the following link: https://events.q4inc.com/attendee/490899486. A link to the webcast will also be available on the Company’s website (https://ir.nauticusrobotics.com/). Following the conclusion of the call, a recording will be available on the Company’s website.


About Nauticus Robotics

Nauticus Robotics, Inc. develops autonomous robots for the ocean industries. Autonomy requires the extensive use of sensors, artificial intelligence, and effective algorithms for perception and decision allowing the robot to adapt to changing environments. The company’s business model includes using robotic systems for service, selling vehicles and components, and licensing of related software to both the commercial and defense business sectors. Nauticus has designed and is currently testing and certifying a new generation of vehicles to reduce operational cost and gather data to maintain and operate a wide variety of subsea infrastructure. Besides a standalone service offering and forward-facing products, Nauticus’ approach to ocean robotics has also resulted in the development of a range of technology products for retrofit/upgrading traditional ROV operations and other third-party vehicle platforms. Nauticus’ services provide customers with the necessary data collection, analytics, and subsea manipulation capabilities to support and maintain assets while reducing their operational footprint, operating cost, and greenhouse gas emissions, to improve offshore health, safety, and environmental exposure.

Cautionary Language Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Act”), and are intended to enjoy the protection of the safe harbor for forward-looking statements provided by the Act as well as protections afforded by other federal securities laws. Such forward-looking statements include but are not limited to: the expected timing of product commercialization or new product releases; customer interest in Nauticus’ products; estimated operating results and use of cash; and Nauticus’ use of and needs for capital. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. These statements may be preceded by, followed by, or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates,” “intends,” or “continue” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that may cause actual events, results, or performance to differ materially from those indicated by such statements. These forward-looking statements are based on Nauticus’ management’s current expectations and beliefs, as well as a number of assumptions concerning future events. There can be no assurance that the events, results, or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and Nauticus is not under any obligation and expressly disclaims any obligation, to update, alter, or otherwise revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law. Readers should carefully review the statements set forth in the reports which Nauticus has filed or will file from time to time with the Securities and Exchange Commission (the “SEC”) for a more complete discussion of the risks and uncertainties facing the Company and that could cause actual outcomes to be materially different from those indicated in the forward-looking statements made by the Company, in particular the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in documents filed from time to time with the SEC, including Nauticus’ Annual Report on Form 10-K filed with the SEC on April 15, 2025. Should one or more of these risks, uncertainties, or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. The documents filed by Nauticus with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov.

 


NAUTICUS ROBOTICS, INC.


 CONSOLIDATED BALANCE SHEETS

 


December 31, 2024


December 31, 2023


ASSETS

Current Assets:

Cash and cash equivalents

$                    1,186,047

$                       753,398

Restricted certificate of deposit

52,151

201,822

Accounts receivable, net

238,531

212,428

Inventories

880,594

2,198,797

Prepaid expenses

1,389,434

1,889,218

Other current assets

573,275

1,025,214

Assets held for sale

750

2,940,254

Total Current Assets

4,320,782

9,221,131

Property and equipment, net

17,115,246

15,904,845

Operating lease right-of-use assets

1,094,743

834,972

Other assets

154,316

187,527


Total Assets

$                  22,685,087

$                  26,148,475


LIABILITIES AND STOCKHOLDERS’ DEFICIT

Current Liabilities:

Accounts payable

$                    5,916,693

$                    7,035,450

Accrued liabilities

5,602,721

7,339,099

Contract liability

346,279

2,767,913

Operating lease liabilities – current

435,307

244,774

Total Current Liabilities

12,301,000

17,387,236

Warrant liabilities

181,913

18,376,180

Operating lease liabilities – long-term

768,939

574,260

 Notes payable – long-term, fair value option (related party)

2,583,832

–

Notes payable – long-term, net of discount (related party)

13,820,366

23,833,848

Notes payable – long-term, net of discount

12,531,332

–

Other liabilities

895,118

–


Total Liabilities

$                  43,082,500

$                  67,935,325

Stockholders’ Deficit

Series A Convertible Preferred Stock $0.0001 par value;

40,000 shares authorized, 35,434 shares issued and 35,034 outstanding.

$                                   4

$                                    –

Common stock, $0.0001 par value; 625,000,000 shares authorized,

9,761,895 and 1,389,884 shares issued, respectively, and 9,761,895

and 1,389,884  shares outstanding, respectively. (As adjusted)

976

139

Additional paid-in capital (As adjusted)

233,342,188

77,004,714

Accumulated other comprehensive loss

(42,229)

–

Accumulated deficit

(253,698,352)

(118,791,703)


Total Stockholders’ Deficit

(20,397,413)

(41,786,850)


Total Liabilities and Stockholders’ Deficit

$                  22,685,087

$                  26,148,475

 


NAUTICUS ROBOTICS, INC.


CONSOLIDATED STATEMENTS OF OPERATIONS

 


Three Months Ended


Twelve Months Ended


12/31/2024


12/31/2023


9/30/2024


12/31/2024


12/31/2023


Revenue:

Service

$          471,223

$       1,063,603

$          370,187

$        1,807,472

$        6,605,852

Service – related party

–

–

–

–

500

Total revenue

471,223

1,063,603

370,187

1,807,472

6,606,352


Costs and expenses:

Cost of revenue (exclusive of items shown separately below)

2,114,837

4,444,682

2,648,019

9,732,205

11,928,931

Depreciation

452,970

242,360

446,087

1,736,828

729,412

Research and development

19,316

414,678

–

82,850

1,399,560

General and administrative

3,867,232

1,194,961

2,845,956

13,370,486

18,271,832

Severance

–

1,075,408

–

–

1,476,636

Impairment of property and equipment

–

25,354,791

–

–

25,354,791

Loss on contract

–

2,542,913

–

–

2,542,913

Total costs and expenses

6,454,355

35,269,793

5,940,062

24,922,369

61,704,075


Operating loss

(5,983,132)

(34,206,190)

(5,569,875)

(23,114,897)

(55,097,723)


Other (income) expense:

Other expense (income), net

(55,012)

(388,328)

143,573

110,361

627,580

Loss on lease termination

42,618

453,162

–

18,721

453,162

Foreign currency transaction loss (gain)

40,320

(12,041)

11,833

61,597

44,020

Loss on extinguishment of debt

48,870,991

–

–

127,605,940

–

Loss on exchange of warrants

–

–

–

–

590,266

Change in fair value of warrant liabilities

(211,181)

3,872,731

(615,505)

(13,559,010)

(14,902,427)

Change in fair value of New Convertible Debentures

28,123,852

–

(24,199,071)

(7,989,948)

–

Change in fair value of November 2024 Debentures

435,864

–

–

435,864

–

Interest expense, net

1,309,931

1,410,875

1,157,468

5,108,227

8,776,277

Total other (income) expense, net

78,557,383

5,336,399

(23,501,702)

111,791,752

(4,411,122)


Net income (loss) attributable to common stockholders

(84,540,515)

(39,542,589)

17,931,827

(134,906,649)

(50,686,601)

Basic earnings (loss) per share

$             (21.59)

$            (34.56)

$                6.70

$             (36.73)

$             (44.57)

Diluted loss per share

$             (21.59)

$            (34.56)

$              (0.36)

$             (36.73)

$             (44.57)

Basic weighted average shares outstanding

3,915,684

1,144,217

2,676,003

3,673,197

1,137,318

Diluted weighted average shares outstanding

3,915,684

1,144,217

15,289,163

3,673,197

1,137,318

 

 NAUTICUS ROBOTICS, INC.


CONSOLIDATED STATEMENTS OF CASH FLOWS

 


Years ended December 31, 


2024


2023


Cash flows used in operating activities:

Net loss

$                                (134,906,649)

$                                   (50,686,601)

Adjustments to reconcile net loss to net cash used in operating activities:

Depreciation

1,736,828

729,412

Accretion of debt discount

411,705

4,033,330

Loss on extinguishment cost

127,605,940

–

Amortization of debt issuance cost

664,690

52,092

Capitalized paid-in-kind (PIK) interest

900,383

–

Accretion of RCB Equities #1, LLC exit fee

97,694

27,608

Stock-based compensation

2,303,054

4,427,073

Loss on exchange of warrants

–

590,266

Change in fair value of warrant liabilities

(13,559,010)

(14,902,427)

Change in fair value of New Convertible Debentures

(7,989,948)

Change in fair value of November 2024 Debentures

435,864

–

Non-cash lease expense

504,097

346,714

Interest expense assumed into Convertible Senior Secured Term Loan

–

378,118

Impairment of property and equipment

–

25,354,791

Settlement of liquidated damages with Common Stock

–

3,685,629

Loss on disposal of assets

19,202

82,604

Loss on lease termination

18,721

453,162

Gain on short-term investments

–

(40,737)

Other notes payable adjustments

115,394

–

Changes in operating assets and liabilities:

Accounts receivable

(26,103)

1,410,006

Inventories

(58,683)

(11,581,138)

Contract assets

–

573,895

Prepaid expenses and other assets

1,145,670

2,707,815

Accounts payable and accrued liabilities

(1,696,525)

8,241,528

Contract liabilities

(2,421,634)

2,767,913

Operating lease liabilities

(397,375)

(338,979)

Other liabilities

895,118

–

Net cash used in operating activities

(24,201,567)

(21,687,926)


Cash flows from (used in) investing activities:

Capital expenditures

(501,600)

(11,633,153)

Proceeds from sale of assets held for sale

676,177

–

Proceeds from sale of property and equipment

5,705

38,704

Proceeds from sale of short-term investments

–

5,000,000

Net cash from (used in) investing activities

180,282

(6,594,449)


Cash flows from financing activities:

Proceeds from notes payable

14,305,000

11,096,884

Payment of debt issuance costs on notes payable

(1,316,791)

(607,500)

Proceeds from November 2024 Convertible Debentures

2,150,000

–

Proceeds from At the Market (ATM) offering

9,857,857

–

Payment of ATM commissions and fees

(499,903)

–

Proceeds from exercise of warrants

–

338,055

Proceeds from exercise of stock options

–

421,175

Net cash from financing activities

24,496,163

11,248,614

Effect of changes in exchange rates on cash and cash equivalents

(42,229)

–


Net change in cash and cash equivalents

432,649

(17,033,761)

Cash and cash equivalents, beginning of year

753,398

17,787,159

Cash and cash equivalents, end of year

$                                       1,186,047

$                                           753,398

 

NAUTICUS ROBOTICS, INC.

Reconciliation of Net Loss Attributable to Common Stockholders (GAAP) to Adjusted Net Loss
Attributable to Common Stockholders (NON-GAAP)

Adjusted net loss attributable to common stockholders is a non-GAAP financial measure which excludes certain items that are included in net loss attributable to common stockholders, the most directly comparable GAAP financial measure. Items excluded are those which the Company believes affect the comparability of operating results and are typically excluded from published estimates by the investment community, including items whose timing and/or amount cannot be reasonably estimated or are non-recurring.

Adjusted net loss attributable to common stockholders is presented because management believes it provides useful additional information to investors for analysis of the Company’s fundamental business on a recurring basis. In addition, management believes that adjusted net loss attributable to common stockholders is widely used by professional research analysts and others in the valuation, comparison, and investment recommendations of companies such as Nauticus.

Adjusted net loss attributable to common stockholders should not be considered in isolation or as a substitute for net loss attributable to common stockholders or any other measure of a company’s financial performance or profitability presented in accordance with GAAP. A reconciliation of the differences between net loss attributable to common stockholders and adjusted net loss attributable to common stockholders is presented below. Because adjusted net loss attributable to common stockholders excludes some, but not all, items that affect net loss attributable to common stockholders and may vary among companies, our calculation of adjusted net loss attributable to common stockholders may not be comparable to similarly titled measures of other companies.


Three Months Ended


Twelve Months Ended


12/31/2024


12/31/2023


9/30/2024


12/31/2024


12/31/2023


Net income (loss) attributable to common stockholders (GAAP)

$  (84,540,515)

$ (39,542,589)

$  17,931,827

$              (134,906,649)

$              (50,686,601)

Loss on extinguishment of debt

48,870,991

–

–

127,605,940

–

Change in fair value of warrant liabilities

(211,181)

3,872,731

(615,505)

(13,559,010)

(14,902,427)

Change in fair value of New Convertible Debentures

28,123,852

–

(24,199,071)

(7,989,948)

–

Change in fair value of November 2024 Debentures

435,864

–

–

435,864

–

Impairment of property and equipment

–

25,354,791

–

–

25,354,791

Stock compensation expense

430,550

432,053

532,539

2,303,054

4,427,073

Severance

–

1,075,408

–

–

1,476,636


Adjusted net loss attributable to common stockholders (non-GAAP)

$  (6,890,439)

$      (8,807,606)

$   (6,350,210)

$  (26,110,749)

$  (34,330,528)

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SOURCE Nauticus Robotics, Inc.

Posted on

Cal-Maine Foods Announces Pricing of Secondary Offering of Common Stock by Company’s Founder’s Family and Concurrent Share Repurchase

Cal-Maine Foods Announces Pricing of Secondary Offering of Common Stock by Company’s Founder’s Family and Concurrent Share Repurchase

RIDGELAND, Miss.–(BUSINESS WIRE)–
Cal-Maine Foods, Inc. (NASDAQ: CALM) (the “Company”) today announced the pricing of an underwritten public offering (the “Offering”) of 2,978,740 shares of its common stock by the four daughters of the Company’s late founder, Fred R. Adams, Jr. (“Mr. Adams”), Dinnette Adams Baker, Luanne Adams, Nancy Adams Briggs and Laurel Adams Krodel, and Adolphus B. Baker, Board Chair (and Mr. Adams’ son-in-law) (collectively, the “Selling Stockholders”), at a public offering price of $92.75 per share. Subject to the satisfaction of customary conditions, the offering is expected to close on April 17, 2025.

In anticipation of the Offering, all outstanding shares of the Company’s Class A common stock (with ten votes per share) were converted into shares of the Company’s common stock, as a result of which the Company has ceased to be a “controlled company” pursuant to the rules of The Nasdaq Stock Market.

In addition, the Company has agreed to purchase from the Selling Stockholders approximately $50 million of its common stock, or 551,876 shares, at a price per share equal to the per share purchase price to be paid by the underwriter in the Offering (the “Share Repurchase”). The Offering is not conditioned upon the closing of the Share Repurchase, but the Share Repurchase is conditioned upon the closing of the Offering. The Share Repurchase is being made pursuant to the Company’s $500 million share repurchase program (the “Share Repurchase Program”), which was approved by the Company’s Board of Directors on February 25, 2025. After the completion of the Share Repurchase, there will be $450 million remaining under the Share Repurchase Program.

Goldman Sachs & Co. LLC is acting as the sole underwriter for the Offering. The Company is not selling any shares of its common stock in the Offering, and the Company will not receive any proceeds from the Offering.

A registration statement (including prospectus) relating to these securities was filed with the Securities and Exchange Commission (the “SEC”) and became effective automatically upon filing. Information about the Offering is available in the prospectus supplement to be filed by the Company with the SEC. When available, copies of the prospectus supplement and the accompanying prospectus relating to the Offering may be obtained by contacting Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by phone at (866) 471-2526, by at facsimile: (212) 902-9316 or by email at [email protected].

The Offering is being made solely by means of a prospectus supplement and the accompanying prospectus. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Cal-Maine Foods

Cal-Maine Foods, Inc. is primarily engaged in the production, packaging, marketing and distribution of fresh shell eggs, including conventional, cage-free, organic, brown, free-range, pasture-raised and nutritionally enhanced eggs, as well as a variety of ready-to-eat egg products. The Company, which is headquartered in Ridgeland, Mississippi, is the largest producer and distributor of fresh shell eggs in the nation and sells most of its shell eggs throughout the majority of the United States.

Forward Looking Statements

Certain statements contained in this press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended, relating to the Company’s shell egg and egg products business, including estimated future production data, expected construction schedules, projected construction costs, potential future supply of and demand for the Company’s products, potential future corn and soybean price trends, potential future impact on the Company’s business of the resurgence in United States commercial table egg layer flocks of highly pathogenic avian influenza (“HPAI”), potential future impact on the Company’s business of inflation and changing interest rates, potential future impact on the Company’s business of new legislation, rules or policies, potential outcomes of legal proceedings, including loss contingency accruals and factors that may result in changes in the amounts recorded, and other projected operating data, including anticipated results of operations and financial condition. Such forward-looking statements are identified by the use of words such as “believes,” “intends,” “expects,” “hopes,” “may,” “should,” “plans,” “projected,” “contemplates,” “anticipates,” or similar words. Actual outcomes or results could differ materially from those projected in the forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties, assumptions, and other factors that are difficult to predict and may be beyond the Company’s control. The factors that could cause actual results to differ materially from those projected in the forward-looking statements include, among others, (i) the risk factors set forth in Part I Item 1A Risk Factors of the Company’s Annual Report on Form 10-K for the year ended June 1, 2024, as well as those included in other reports filed from time to time with the SEC (including the Company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K), (ii) the effect of the loss by the Company of controlled company status under the rules of The Nasdaq Stock Market on the trading price of the Company’s common stock, (iii) the ability of the Company to retain and hire key personnel and maintain relationships with its customers and suppliers, (iv) the impact on the trading price of the Company’s common stock as a result of the sale or marketing, or potential sale or marketing, of a significant number of shares of the Company’s common stock held by the family of Mr. Adams, as part of their portfolio diversification efforts, (v) the risks and hazards inherent in the shell egg business (including disease, pests, weather conditions, and potential for product recall), including but not limited to the current outbreak of HPAI affecting poultry in the United States, Canada and other countries that was first detected in commercial flocks in the United States in February 2022 and that first impacted the Company’s flocks in December 2023, (vi) changes in the demand for and market prices of shell eggs and feed costs, (vii) the impacts and potential future impacts of government, customer and consumer reactions to recent high market prices for eggs, including but not limited to efforts to increase imports of eggs and egg products, pressure to change long-standing pricing frameworks, lower consumer demand for eggs, and the pending Department of Justice antitrust investigation, (viii) the Company’s ability to predict and meet demand for cage-free and other specialty eggs, (ix) risks, changes, or obligations that could result from the Company’s recent or future acquisition of new flocks or businesses and risks or changes that may cause conditions to completing a pending acquisition, such as the pending acquisition of Echo Lake Foods not to be met, (x) risks relating to changes in inflation and interest rates, (xi) the Company’s ability to retain existing customers, acquire new customers and grow the Company’s product mix, (xii) adverse results in pending litigation and other legal matters, (xiii) risks related to changing U.S. trade and tariff policies including potentially higher costs for construction materials, equipment, packaging and other items, and (xiv) global instability, including as a result of the war in Ukraine, the conflicts in Israel and surrounding areas and attacks on shipping in the Red Sea. Readers are cautioned not to place undue reliance on forward-looking statements because, while the Company believes the assumptions on which the forward-looking statements are based are reasonable, there can be no assurance that these forward-looking statements will prove to be accurate. Further, the forward-looking statements included herein are only made as of the respective dates thereof, or if no date is stated, as of the date hereof. Except as otherwise required by law, the Company disclaims any intent or obligation to publicly update these forward-looking statements, whether because of new information, future events, or otherwise.

Sherman Miller, President and CEO

Max P. Bowman, Vice President and CFO

(601) 948-6813

KEYWORDS: United States North America Mississippi

INDUSTRY KEYWORDS: Retail Supermarket Food/Beverage

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Allegro Issues Statement

MANCHESTER, N.H., April 15, 2025 (GLOBE NEWSWIRE) — Allegro MicroSystems, Inc. (NASDAQ: ALGM) (“Allegro” or the “Company”) today issued the following statement regarding Onsemi’s withdrawal of its unsolicited proposal to acquire Allegro:

As a general matter, the Board of Directors of Allegro (“the Board”) believes that public discourse around speculative transactions is not productive nor in the best interests of our stockholders. However, in light of current market speculation about our engagement with Onsemi, we believe it is important to provide stakeholders additional details about the process undertaken by the Board.

As it would with any potentially credible outreach, the Board, in consultation with its independent financial and legal advisors, carefully reviewed and considered Onsemi’s proposals and unanimously determined each was inadequate.

Allegro remained in communication with Onsemi and its advisors (both before and after Onsemi publicly announced its proposal). The Board repeatedly laid out a clear and constructive path for engagement for Onsemi and its advisors that would allow Onsemi the opportunity to offer greater value for our stockholders. Despite continued engagement from the Board and its advisors, Onsemi declined to pursue this path.

The Board has been and remains fully committed to acting in the best interests of its stockholders. We are confident Allegro is uniquely positioned to address the mega-trends of electrification and autonomy with our differentiated sensing and power technologies. Our focus remains on continued innovation to drive forward our competitive advantages while partnering closely with our customers to extend our market leading positions in e-Mobility, clean energy, data center, robotics and automation and unlock additional stockholder value.

PJT Partners is serving as financial advisor to Allegro. Davis Polk & Wardwell LLP is serving as legal advisor to Allegro.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts contained in this press release should be considered forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “aim,” “may,” “will,” “should,” “expect,” “exploring,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “would,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” “seek,” or “continue” or the negative of these terms or other similar words and expressions, although not all forward-looking statements contain these words. No forward-looking statement is a guarantee of future results, performance or achievements, and one should avoid placing undue reliance on such statements.

Forward-looking statements are based on management’s current expectations, beliefs and assumptions and on information currently available to us. Such beliefs and assumptions may or may not prove to be correct. Additionally, such forward-looking statements are subject to a number of known and unknown risks, uncertainties and assumptions, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to, those identified in Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and Part I, Item 1A. “Risk Factors” in our Annual Report on Form 10-K for the year ended March 29, 2024, filed with the U.S. Securities and Exchange Commission on May 23, 2024, which is available at www.sec.gov. These risks and uncertainties include, but are not limited to: downturns or volatility in general economic conditions; our ability to compete effectively, expand our market share and increase our net sales and profitability; our reliance on a limited number of third-party semiconductor wafer fabrication facilities and suppliers of other materials; any failure to adjust purchase commitments and inventory management based on changing market conditions or customer demand; shifts in our product mix, customer mix or channel mix, which could negatively impact our gross margin; the cyclical nature of the semiconductor industry, including the analog segment in which we compete; any downturn or disruption in the automotive market or industry; our ability to successfully integrate the acquisition of other companies or technologies and products into our business; our ability to compensate for decreases in average selling prices of our products and increases in input costs; our ability to manage any sustained yield problems or other delays at our third-party wafer fabrication facilities or in the final assembly and test of our products; our ability to accurately predict our quarterly net sales and operating results and meet the expectations of investors; our dependence on manufacturing operations in the Philippines; our reliance on distributors to generate sales; events beyond our control impacting us, our key suppliers or manufacturing partners; our ability to develop new product features or new products in a timely and cost-effective manner; our ability to manage growth; any slowdown in the growth of our end markets; the loss of one or more significant customers; our ability to meet customers’ quality requirements; uncertainties related to the design win process and our ability to recover design and development expenses and to generate timely or sufficient net sales or margins; changes in government trade policies, including the imposition of export restrictions and tariffs; our exposures to warranty claims, product liability claims and product recalls; our dependence on international customers and operations; the availability of rebates, tax credits and other financial incentives on end-user demands for certain products; risks, liabilities, costs and obligations related to governmental regulations and other legal obligations, including export/trade control, privacy, data protection, information security, cybersecurity, consumer protection, environmental and occupational health and safety, antitrust, anti-corruption and anti-bribery, product safety, environmental protection, employment matters and tax; the volatility of currency exchange rates; our ability to raise capital to support our growth strategy; our indebtedness may limit our flexibility to operate our business; our ability to effectively manage our growth and to retain key and highly skilled personnel; our ability to protect our proprietary technology and inventions through patents or trade secrets; our ability to commercialize our products without infringing third-party intellectual property rights; disruptions or breaches of our information technology systems or confidential information or those of our third-party service providers; our principal stockholder continues to have influence over us; the negative impact any future issuance or sale of our shares may have on the market price of our common stock; anti-takeover provisions in our organizational documents and under the General Corporation Law of the State of Delaware; any failure to design, implement or maintain effective internal control over financial reporting; changes in tax rates or the adoption of new tax legislation; the negative impacts of sustained inflation on our business; the physical, transition and litigation risks presented by climate change; and other events beyond our control. Moreover, we operate in an evolving environment. New risk factors and uncertainties may emerge from time to time, and it is not possible for management to predict all risk factors and uncertainties.

You should read this press release with the understanding that our actual future results may be materially different from what we expect. We qualify all of our forward-looking statements by these cautionary statements. All forward-looking statements speak only as of the date of this press release, and except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.

About Allegro Microsystems

Allegro MicroSystems, Inc. is leveraging more than three decades of expertise in magnetic sensing and power ICs to propel automotive, clean energy and industrial automation forward with solutions that enhance efficiency, performance and sustainability. Allegro’s commitment to quality drives transformation across industries, reinforcing our status as a pioneer in “automotive-grade” technology and a partner in our customers’ success. For additional information, visit https://www.allegromicro.com/en/.

Allegro Contact:

Jalene Hoover
VP of IR & Corporate Communications
Phone: +1 512 751 6526
[email protected]

Matthew Sherman / Aaron Palash
Joele Frank, Wilkinson Brimmer Katcher
+1 (212) 355-4449



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Tamboran Schedules 3Q FY25 Earnings Release and Webcast

Tamboran Schedules 3Q FY25 Earnings Release and Webcast

NEW YORK–(BUSINESS WIRE)–
Tamboran Resources Corporation (NYSE: TBN, ASX: TBN) plans to release the Company’s third quarter earnings and operational update after NYSE market closes on Wednesday, May 14, 2025 (US time).

Managing Director and Chief Executive Officer, Mr. Joel Riddle will host a webcast commencing at 6:00pm EDT to provide an update on the Company’s operations in the Beetaloo Basin. This will be followed by a short Q&A session with analysts.

Access to the live audio webcast for the conference call is available via Tamboran’s website at https://ir.tamboran.com/. A recording of the webcast will be available on the Tamboran Resources website following completion of the presentation.

Time:

 

 

 

6:00pm EDT (New York) | 8:00am AEST (Sydney, Melbourne)

Date:

 

 

 

Wednesday, May 14, 2025 (New York) | Thursday, May 15, 2025 (Sydney, Melbourne)

This announcement was approved and authorised for release by Joel Riddle, Managing Director and Chief Executive Officer of Tamboran Resources Corporation.

Investor enquiries:

Chris Morbey, Vice President – Investor Relations

+61 2 8330 6626

[email protected]

Media enquiries:

+61 2 8330 6626

[email protected]

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Energy Other Energy Oil/Gas

MEDIA:

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