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UMH PROPERTIES, INC. REPORTS RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2025 (UPDATED)

FREEHOLD, NJ, May 01, 2025 (GLOBE NEWSWIRE) — In a release issued under the same headline on May 1, 2025 by UMH Properties, Inc. (NYSE:UMH) (TASE:UMH), please note that for the Full Year Guidance 2025 section in Note 3, “Net Loss Attributable to Common Shareholders per share – fully diluted” should be “Net Income Attributable to Common Shareholders per share – fully diluted” in the range of $0.13-$0.21. Further, Depreciation should be $0.80 instead of $0.08. The corrected release follows.

UMH Properties, Inc. (NYSE:UMH) (TASE:UMH) reported Total Income for the quarter ended March 31, 2025 of $61.2 million as compared to $57.7 million for the quarter ended March 31, 2024, representing an increase of 6%. Net Loss Attributable to Common Shareholders amounted to $271,000 or $0.00 per diluted share for the quarter ended March 31, 2025 as compared to a Net Loss of $6.3 million or $0.09 per diluted share for the quarter ended March 31, 2024.

Funds from Operations Attributable to Common Shareholders (“FFO”), was $18.2 million or $0.22 per diluted share for the quarter ended March 31, 2025 as compared to $14.0 million or $0.20 per diluted share for the quarter ended March 31, 2024, representing a 10% per diluted share increase. Normalized Funds from Operations Attributable to Common Shareholders (“Normalized FFO”), was $18.8 million or $0.23 per diluted share for the quarter ended March 31, 2025, as compared to $15.0 million or $0.22 per diluted share for the quarter ended March 31, 2024, representing a 5% per diluted share increase.

A summary of significant financial information for the three months ended March 31, 2025 and 2024 is as follows (in thousands except per share amounts):

      For the Three Months Ended
      March 31,
      2025       2024  
             
  Total Income $ 61,225     $ 57,680  
  Total Expenses $ 51,651     $ 48,408  
  Net Loss Attributable to Common Shareholders $ (271 )   $ (6,264 )
  Net Loss Attributable to Common Shareholders
per Diluted Common Share

$

(0.00

)

  

$

(0.09

)
  FFO (1) $ 18,172     $ 14,046  
  FFO (1) per Diluted Common Share $ 0.22     $ 0.20  
  Normalized FFO (1) $ 18,820     $ 15,017  
  Normalized FFO (1) per Diluted Common Share $ 0.23     $ 0.22  
  Basic Weighted Average Shares Outstanding   82,391       69,130  
  Diluted Weighted Average Shares Outstanding   83,335       69,536  
             

A summary of significant balance sheet information as of March 31, 2025 and December 31, 2024 is as follows (in thousands):

  March 31,
2025 		  December 31, 2024
       
       
Gross Real Estate Investments $ 1,712,915   $ 1,669,114
Marketable Securities at Fair Value $ 30,328   $ 31,883
Total Assets $ 1,549,306   $ 1,563,728
Mortgages Payable, net $ 476,372   $ 485,540
Loans Payable, net $ 28,814   $ 28,279
Bonds Payable, net $ 101,115   $ 100,903
Total Shareholders’ Equity $ 914,195   $ 915,909


Samuel A. Landy, President and CEO, commented on the results of the first quarter of 2025.

“We are pleased to announce another solid quarter of operating results and an excellent start to 2025. During the quarter, we:

  • Increased Rental and Related Income by 8%;
  • Increased Community Net Operating Income (“NOI”) by 8%;
  • Increased Normalized Funds from Operations (“Normalized FFO”) by 25% and Normalized FFO per diluted share by 5%;
  • Increased Same Property Community NOI by 8%;
  • Increased Same Property Occupancy by 70 basis points from 87.2% to 87.9%;
  • Improved our Same Property expense ratio from 39.6% in the first quarter of 2024 to 39.5% at quarter end;
  • Acquired two 100% fully occupied, age-restricted communities in New Jersey containing approximately 266 homesites for a total cost of approximately $24.6 million;
  • Issued and sold approximately 515,000 shares of Common Stock through our At-the-Market Sale Program at a weighted average price of $18.21 per share, generating gross proceeds of $9.4 million and net proceeds of $9.2 million, after offering expenses;
  • Issued and sold approximately 49,000 shares of Series D Preferred Stock through our At-the-Market Sale Program at a weighted average price of $23.03 per share, generating gross proceeds of $1.1 million and net proceeds of $982,000, after offering expenses;
  • Subsequent to quarter end, raised our quarterly common stock dividend by $0.01 representing a 4.7% increase to $0.225 per share or $0.90 annually, representing our fifth consecutive common stock dividend increase within the last five years, resulting in an increase of $0.18 or 25% over this period; and
  • Subsequent to quarter end, issued and sold approximately 1.2 million shares of Common Stock through our At-the-Market Sale Program at a weighted average price of $17.89 per share, generating gross proceeds of $21.8 million and net proceeds of $21.5 million, net of offering expenses.”

Samuel A. Landy, President and CEO, commented, “UMH Properties delivered a solid first quarter in 2025, reflecting the strength and resilience of our long-term business plan. Normalized FFO increased to $0.23 per share, an increase of 5% per share over last year. Our results should continue to improve as we are able to obtain our annual rent increases, invest in additional rental units, increase sales and complete additional acquisitions. Our performance and results over the past few years have allowed us to increase the annual dividend for a 5th consecutive year to $0.90 per share. Over the past five years, we have increased the dividend by $0.18 or 25%.”

“Our communities continue to experience strong demand which is resulting in increased sales and higher rental home occupancy. Our same-property occupancy increased by 113 sites from year end 2024 and an increase of 227 occupied sites year-over-year, driving an 8.4%, or $2.5 million, increase in NOI to $32.5 million. Rental home occupancy increased from 94.0% at year end to 94.6% at the end of the first quarter. Additionally, we converted 109 new homes from inventory to revenue-generating rental homes, expanding our rental portfolio to approximately 10,400 homes. Home sales remained robust despite the challenging winter, with gross sales revenue reaching $6.7 million. We anticipate sales growth as we progress into our peak selling seasons and begin selling homes into our newly opened expansions.”

“The acquisition of two fully occupied communities in New Jersey further strengthens our portfolio, and with a solid balance sheet and access to capital, we are well-positioned to continue our external growth initiatives. We currently have two communities in Maryland, containing 191 sites, under contract for a total purchase price of $14.6 million that we hope to close in the second quarter. We continue to evaluate potential acquisitions and hope to increase our pipeline in the coming weeks.”

“Our guidance for full-year 2025 remains unchanged. We expect normalized FFO in the range of $0.96-$1.04 (3) per diluted share, or $1.00 per diluted share at the midpoint. As we head into the seasonally strong spring and summer months, we anticipate continued growth in occupancy, NOI, and sales, delivering long-term value to our shareholders.”

UMH Properties, Inc. will host its First Quarter 2025 Financial Results Webcast and Conference Call. Senior management will discuss the results, current market conditions and future outlook on Friday, May 2, 2025, at 10:00 a.m. Eastern Time.

The Company’s 2025 first quarter financial results being released herein will be available on the Company’s website at www.umh.reit in the “Financials” section.

To participate in the webcast, select the webcast icon on the homepage of the Company’s website at www.umh.reit, in the Upcoming Events section. Interested parties can also participate via conference call by calling toll free 877-513-1898 (domestically) or 412-902-4147 (internationally).

The replay of the conference call will be available at 12:00 p.m. Eastern Time on Friday, May 2, 2025, and can be accessed by dialing toll free 877-344-7529 (domestically) and 412-317-0088 (internationally) and entering the passcode 3811796. A transcript of the call and the webcast replay will be available at the Company’s website, www.umh.reit.

UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 141 manufactured home communities containing approximately 26,500 developed homesites, of which 10,400 contain rental homes, and over 1,000 self-storage units. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida and Georgia. Included in the 141 communities are two communities in Florida, containing 363 sites that UMH has an ownership interest in and operates through its joint venture with Nuveen Real Estate.

Certain statements included in this press release which are not historical facts may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements are based on the Company’s current expectations and involve various risks and uncertainties. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, the Company can provide no assurance those expectations will be achieved. The risks and uncertainties that could cause actual results or events to differ materially from expectations are contained in the Company’s annual report on Form 10-K and described from time to time in the Company’s other filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Note:

(1) Non-GAAP Information: We assess and measure our overall operating results based upon an industry performance measure referred to as Funds from Operations Attributable to Common Shareholders (“FFO”), which management believes is a useful indicator of our operating performance. FFO is used by industry analysts and investors as a supplemental operating performance measure of a REIT. FFO, as defined by The National Association of Real Estate Investment Trusts (“NAREIT”), represents net income (loss) attributable to common shareholders, as defined by accounting principles generally accepted in the United States of America (“U.S. GAAP”), excluding certain gains or losses from sales of previously depreciated real estate assets, impairment charges related to depreciable real estate assets, the change in the fair value of marketable securities, and the gain or loss on the sale of marketable securities plus certain non-cash items such as real estate asset depreciation and amortization. Included in the NAREIT FFO White Paper – 2018 Restatement, is an option pertaining to assets incidental to our main business in the calculation of NAREIT FFO to make an election to include or exclude gains and losses on the sale of these assets, such as marketable equity securities, and include or exclude mark-to-market changes in the value recognized on these marketable equity securities. In conjunction with the adoption of the FFO White Paper – 2018 Restatement, for all periods presented, we have elected to exclude the gains and losses realized on marketable securities investments and the change in the fair value of marketable securities from our FFO calculation. NAREIT created FFO as a non-U.S. GAAP supplemental measure of REIT operating performance. We define Normalized Funds from Operations Attributable to Common Shareholders (“Normalized FFO”), as FFO excluding certain one-time charges. FFO and Normalized FFO should be considered as supplemental measures of operating performance used by REITs. FFO and Normalized FFO exclude historical cost depreciation as an expense and may facilitate the comparison of REITs which have a different cost basis. However, other REITs may use different methodologies to calculate FFO and Normalized FFO and, accordingly, our FFO and Normalized FFO may not be comparable to all other REITs. The items excluded from FFO and Normalized FFO are significant components in understanding the Company’s financial performance.

FFO and Normalized FFO (i) do not represent Cash Flow from Operations as defined by U.S. GAAP; (ii) should not be considered as alternatives to net income (loss) as a measure of operating performance or to cash flows from operating, investing and financing activities; and (iii) are not alternatives to cash flow as a measure of liquidity. FFO and Normalized FFO, as calculated by the Company, may not be comparable to similarly titled measures reported by other REITs.

The diluted weighted shares outstanding used in the calculation of FFO per Diluted Common Share and Normalized FFO per Diluted Common Share were 83.3 million shares for the three months ended March 31, 2025 and 69.5 million shares for the three months ended March 31, 2024. Common stock equivalents resulting from stock options in the amount of 944,000 shares for the three months ended March 31, 2025 and 406,000 shares for the three months ended March 31, 2024 were excluded from the computation of Diluted Net Loss per Share as their effect would have been anti-dilutive.

The reconciliation of the Company’s U.S. GAAP net loss to the Company’s FFO and Normalized FFO for the three months ended March 31, 2025 and 2024 are calculated as follows (in thousands):

    Three Months Ended    
    March 31, 2025   March 31, 2024    
Net Loss Attributable to Common Shareholders   $ (271 )   $ (6,264 )    
Depreciation Expense     16,663     14,741      
Depreciation Expense from Unconsolidated Joint Venture     217     197      
Loss on Sales of Investment Property and Equipment     1     3      
Decrease in Fair Value of Marketable Securities     1,562       5,369      
FFO Attributable to Common Shareholders     18,172       14,046      
Amortization of Financing Costs     599       556      
Non-Recurring Other Expense (2)     49       415      
Normalized FFO Attributable to Common Shareholders   $ 18,820     $ 15,017      
             

(2) Consists of one-time legal and professional fees ($49) for the three months ended March 31, 2025. Consisted of non-recurring expenses for one-time legal fees and fees relating to the OZ Fund ($33), and costs associated with the liquidation/sale of inventory in a particular sales center ($382) for the three months ended March 31, 2024.

The following are the cash flows provided by (used in) operating, investing and financing activities for the three months ended March 31, 2025 and 2024 (in thousands):

      2025       2024  
  Operating Activities $ 12,779     $ 19,048  
  Investing Activities   (56,411 )     (25,424 )
  Financing Activities   (18,693 )     (8,849 )
         

(3) The following table reconciles Net Income Attributable to Common Shareholders per share – fully diluted guidance to FFO Attributable to Common Shareholders per share – fully diluted guidance and Normalized FFO Attributable to Common Shareholders per share – fully diluted guidance:

  Full Year Guidance 2025
   
Net Income Attributable to Common Shareholders per share – fully diluted $0.13-$0.21
Depreciation $0.80
FFO Attributable to Common Shareholders per share – fully diluted $0.93-$1.01
Amortization of Financing Costs and Non- Recurring Other Expenses $.03
Normalized FFO Attributable to Common Shareholders per share – fully diluted $0.96-$1.04



Contact: Nelli Madden

732-577-9997



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Smart Digital Group Limited Announces Pricing of Initial Public Offering

PR Newswire


SINGAPORE
, May 1, 2025 /PRNewswire/ — Smart Digital Group Limited (the “Company”), a digital marketing service provider in Singapore, today announced the pricing of its initial public offering (the “Offering”) of 1,500,000 ordinary shares, par value $0.001 per share (“Ordinary Shares”) at a public offering price of US$4.00 per share. The Ordinary Shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on May 2, 2025 under the ticker symbol “SDM.”

The Company expects to receive aggregate gross proceeds of US$6.0 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 225,000 Ordinary Shares at the public offering price, less underwriting discounts. The Offering is expected to close on or about May 5, 2025, subject to the satisfaction of customary closing conditions.

Proceeds from the Offering will be used for business expansion, brand promotion and marketing, software development, and for working capital and other general corporate purposes.

The Offering is being conducted on a firm commitment basis. US Tiger Securities, Inc. is acting as the sole book-runner for the Offering. Hunter Taubman Fischer & Li LLC is acting as counsel to the Company, and VCL Law LLP is acting as counsel to the underwriters in connection with the Offering.

A registration statement on Form F-1 relating to the Offering was filed with the Securities and Exchange Commission (the “SEC”) (File Number: 333-283152) and was declared effective by the SEC on May 1, 2025. The Offering is being made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the Offering may be obtained from US Tiger Securities, Inc. by email at [email protected], by calling +1 646-978-5188, or by standard mail to 437 Madison Avenue, 27th Floor, New York, New York 10022. In addition, a copy of the prospectus relating to the Offering may be obtained via the SEC’s website at www.sec.gov.

Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more complete information about the Company and the Offering. This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company’s securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

About Smart Digital Group Limited

Smart Digital Group Limited is a digital marketing service provider headquartered in Singapore. The Company provides event planning and execution services, internet media services, software customization and marketing services and business planning and consulting services. For more information, visit the Company’s website at http://www.sdmmeta.com/.


Forward-Looking Statements

All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company’s proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to,” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the SEC.

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SOURCE Smart Digital Group Limited

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Keurig Dr Pepper Announces Pricing of Secondary Offering of Common Stock by JAB

PR Newswire


BURLINGTON, Mass. and FRISCO, Texas, May 1, 2025 /PRNewswire/ — Keurig Dr Pepper (NASDAQ: KDP) (the “Company or “KDP”) announced today the pricing of its previously-announced registered public offering of 75,000,000 shares through a secondary offering by a subsidiary of JAB Holding Company s.a.r.l. (“JAB”), at a price to the public of $33.45 per share.  

Following the completion of the offering, JAB will beneficially own approximately 4.4% of KDP’s outstanding common stock. The remaining shares beneficially owned by JAB will be subject to a 60-day lock-up agreement with the underwriter.

J.P. Morgan is acting as the underwriter for the secondary offering.

The offering will be made only by means of an effective registration statement and a prospectus. The Company has previously filed with the U.S. Securities and Exchange Commission (the “SEC”) a registration statement (including a prospectus) on Form S-3 (File No. 333-266989) and a prospectus supplement, each dated August 19, 2022, as well as a preliminary prospectus supplement for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the accompanying prospectus supplements and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. The offering will be made only by means of a prospectus and related prospectus supplements relating to the offering, copies of which may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 866-803-9204 or by email at [email protected]. These documents can also be accessed through the SEC’s website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.


Investors:

Investor Relations
Keurig Dr Pepper
T: 888-340-5287 / [email protected]


Media:


Katie Gilroy

Keurig Dr Pepper
T: 781-418-3345 / [email protected]


About Keurig Dr Pepper

Keurig Dr Pepper (Nasdaq: KDP) is a leading beverage company in North America, with a portfolio of more than 125 owned, licensed and partner brands and powerful distribution capabilities to provide a beverage for every need, anytime, anywhere. With annual revenue of more than $15 billion, we hold leadership positions in beverage categories including carbonated soft drinks, coffee, tea, water, juice and mixers, and have the #1 single serve coffee brewing system in the U.S. and Canada. Our innovative partnership model builds emerging growth platforms in categories such as premium coffee, energy, sports hydration and ready-to-drink coffee. Our brands include Keurig®, Dr Pepper®, Canada Dry®, Mott’s®, A&W®, Peñafiel®, Snapple®, 7UP®, Green Mountain Coffee Roasters®, GHOST®, Clamato®, Core Hydration® and The Original Donut Shop®. Driven by a purpose to Drink Well. Do Good., our 29,000 employees aim to enhance the experience of every beverage occasion and to make a positive impact for people, communities and the planet.

FORWARD-LOOKING STATEMENTS

Certain statements contained herein are “forward-looking statements” within the meaning of applicable securities laws and regulations. These forward-looking statements can generally be identified by the use of words such as “outlook,” “guidance,” “anticipate,” “expect,” “believe,” “could,” “estimate,” “feel,” “forecast,” “intend,” “may,” “plan,” “potential,” “project,” “should,” “target,” “will,” “would,” and similar words. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. These statements are based on the current expectations of our management, are not predictions of actual performance, and actual results may differ materially.

Forward-looking statements are subject to a number of risks and uncertainties, including the factors disclosed in our Annual Report on Form 10-K, the prospectus supplements and subsequent filings with the SEC. We are under no obligation to update, modify or withdraw any forward-looking statements, except as required by applicable law.

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SOURCE Keurig Dr Pepper

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SOUN INVESTOR ALERT: Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In SOUN To Contact Him Directly To Discuss Their Options

PR Newswire

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In SoundHound AI To Contact Him Directly To Discuss Their Options

If you suffered losses exceeding $100,000 in SoundHound AI between May 10, 2024 and March 3, 2025and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).


[You may also click here for additional information]


NEW YORK
, May 1, 2025 /PRNewswire/ — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against SoundHound AI, Inc. (“SoundHound” or the “Company”) (NASDAQ: SOUN) and reminds investors of the May 27, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the material weaknesses in SoundHound’s internal controls over financial reporting impaired the Company’s ability to effectively account for corporate acquisitions; (2) in addition, the Company overstated the extent to which it had remediated, and/or its ability to remediate, the material weaknesses in its internal controls over financial reporting; (3) as a result of the foregoing material weaknesses, SoundHound’s reported goodwill following the Amelia Acquisition was inflated and would need to be corrected; (4) further, SoundHound would likely require extra time and expense to effectively account for the SYNQ3 and Amelia Acquisitions; (5) the foregoing increased the risk that the Company would be unable to timely file certain financial reports with the United States Securities and Exchange Commission (“SEC”); and (6) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On March 4, 2025, SoundHound disclosed in a filing with the SEC that it would be unable to timely file its Annual Report for 2024 (the “2024 10-K”). SoundHound stated that “[d]ue to the complexity of accounting for [the SYNQ3 and Amelia Acquisitions], the Company require[d] additional time to prepare financial statements and accompanying notes” and that it “ha[d] identified material weaknesses in its internal control over financial reporting.”

On this news, SoundHound’s stock price fell $0.60 per share, or 5.81%, to close at $9.72 per share on March 4, 2025.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. 

Faruqi & Faruqi, LLP also encourages anyone with information regarding SoundHound’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the SoundHound AI class action, go to www.faruqilaw.com/SOUN or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

Follow us for updates on LinkedIn, on X, or on Facebook.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

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SOURCE Faruqi & Faruqi, LLP

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BTC Digital Ltd. Announces Signing of Litecoin Miner Hosting Agreement

PR Newswire


SINGAPORE
, May 1, 2025 /PRNewswire/ — Blockchain technology company BTC Digital Ltd. (“BTC Digital” or the “Company”) (NASDAQ: BTCT) today announced that it has signed a Litecoin (LTC) miner hosting agreement with a major client. Under the agreement, BTC Digital will provide hosting services for 154 LTC miners with a total computing power of approximately 1,690 GH/s.

Leveraging its operational network across America and its professional management system, BTC Digital will deploy the 154 LTC miners for the client and deliver full-service hosting solutions. These services will cover the entire process from miner transportation, power supply, on-site security, to daily operations and maintenance, enabling the client to focus on optimizing asset returns without the burden of operational complexities.

Highlights of BTC Digital’s Hosting Services Include:

Comprehensive Hosting and Operations Management

  • Transportation coordination and on-site installation
  • Professional power access and load management
  • On-site security and environmental monitoring
  • 24/7 anomaly alerts and remote operational support

High Availability and Stability

  • Average uptime exceeding 95%

Real-Time Monitoring and Data Analytics

  • Performance monitoring platform covering hash rate, power consumption, and other key metrics
  • Customized reporting and revenue settlement solutions for clients

Energy Efficiency and Cost Reduction

  • Advanced air-cooling and power optimization techniques to enhance hashing efficiency per energy unit

Industry Value and Outlook

BTC Digital’s LTC miner hosting services draw on its extensive expertise in mining farm management and asset operations, helping clients rapidly scale their computing power while maintaining professionalized management and transparent reporting. Amid the dual challenges of cryptocurrency market volatility and energy cost pressures, BTC Digital continues to optimize its hosting model to deliver stable and sustainable returns for its partners.

About BTC Digital Ltd.

BTC Digital Ltd. is a blockchain technology company, with a long-term strategy to create value across the metaverse, blockchain and cryptocurrency mining industry. The Company is committed to developing blockchain related businesses in North America, including cryptocurrency mining, mining farm construction, mining pool and data center operation, and miner accessories business.

For more information, please visit: https://btct.investorroom.com/ 

Safe Harbor Statement

This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995.  These forward-looking statements can be identified by terminology such as “will”, “expects”, “anticipates”, “future”, “intends”, “plans”, “believes”, “estimates”, “target”, “going forward”, “outlook” and similar statements.  Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements.  Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

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Genmab to Submit Supplemental Biologics License Application (sBLA) to U.S. Food and Drug Administration for Epcoritamab Plus Rituximab and Lenalidomide (R2) in Patients with Relapsed/Refractory Follicular Lymphoma (FL)

Genmab to Submit Supplemental Biologics License Application (sBLA) to U.S. Food and Drug Administration for Epcoritamab Plus Rituximab and Lenalidomide (R2) in Patients with Relapsed/Refractory Follicular Lymphoma (FL)

  • Decision to submit based on a positive overall response rate (ORR) (p-value < 0.0001), one of the dual primary endpoints in the Phase 3 EPCORE® FL-1 trial
  • Full results from the trial will be submitted for presentation at an upcoming medical conference in 2025

COPENHAGEN, Denmark–(BUSINESS WIRE)–Genmab A/S (Nasdaq: GMAB) announced today its intention to submit in the first half of 2025 a supplemental Biologics License Application (sBLA) to the U.S. Food and Drug Administration (FDA) for subcutaneous epcoritamab, a bispecific antibody being investigated in combination with rituximab and lenalidomide (R2) for the treatment of adult patients with relapsed or refractory (R/R) follicular lymphoma (FL), following at least one prior systemic therapy.

The decision to submit the sBLA is supported by positive topline results from the Phase 3 EPCORE FL-1 trial evaluating epcoritamab plus R2 versus R2 alone in adult patients with R/R FL. Based on an interim analysis conducted by an Independent Data Monitoring Committee (IDMC) review, the study met one of its dual primary endpoints of ORR (Complete Response plus Partial Response, p-value < 0.0001). The safety profile of epcoritamab plus R2 in adult patients with R/R FL was consistent with the known safety profiles of the individual regimens (epcoritamab and R2) and as presented in the U.S. prescribing information for epcoritamab. No new safety signals were observed. The full results will be submitted later this year for presentation at an upcoming medical congress and discussed with global regulatory authorities.

“We are pleased with the strength of the data that allows us to submit a supplemental Biologics License Application in accordance with the U.S. FDA’s Project Frontrunner, which supports our commitment to advance novel medicines to patients who need them. The interim topline results demonstrate the potential of this investigational epcoritamab combination regimen to treat relapsed or refractory follicular lymphoma patients,” said Jan van de Winkel, Ph.D., Chief Executive Officer, Genmab. “This milestone represents our commitment to the ongoing development of epcoritamab, with our partner AbbVie, and we look forward to seeing the full results from the study.”

Use of epcoritamab plus R2 in R/R FL is not approved in the U.S., in the EU or in any other territory. The safety and efficacy of epcoritamab for use as a combination therapy in FL have not been established. Epcoritamab is currently approved by the FDA under Accelerated Approval as a monotherapy for the treatment of adults with R/R FL after two or more lines of systemic therapy.

About Follicular Lymphoma (FL)

FL is typically an indolent (or slow-growing) form of non-Hodgkin’s lymphoma (NHL) that arises from B-lymphocytes and is the second most common form of NHL accounting for 20-30 percent of all cases.i About 15,000 people develop FL each year in the U.S.ii and it is considered incurable with current standard of care therapies.iii Patients often relapse and, with each relapse the remission and time to next treatment is shorter.iv Over time, transformation to diffuse large B-cell lymphoma (DLBCL), an aggressive form of NHL associated with poor survival outcomes, can occur in more than 25 percent of FL patients.v

About the EPCORE FL-1 Trial

EPCORE FL-1 (NCT05409066) is a Phase 3 open-label interventional trial to evaluate the safety and efficacy of epcoritamab plus rituximab and lenalidomide (R2) versus R2 alone in patients with relapsed/refractory (R/R) follicular lymphoma (FL). The dual primary endpoints are ORR and progression-free survival assessed by independent review committee (IRC) per Lugano criteria.

About Epcoritamab

Epcoritamab is an IgG1-bispecific antibody created using Genmab’s proprietary DuoBody® technology and administered subcutaneously. Genmab’s DuoBody-CD3 technology is designed to direct cytotoxic T cells selectively to elicit an immune response toward target cell types. Epcoritamab is designed to simultaneously bind to CD3 on T cells and CD20 on B cells and induces T-cell-mediated killing of CD20+ cells.vi

Epcoritamab (approved under the brand name EPKINLY® in the U.S. and Japan, and TEPKINLY® in the EU) has received regulatory approval in certain lymphoma indications in several territories. Epcoritamab is being co-developed by Genmab and AbbVie as part of the companies’ oncology collaboration. The companies will share commercial responsibilities in the U.S. and Japan, with AbbVie responsible for further global commercialization. Both companies will pursue additional international regulatory approvals for the investigational R/R FL indication and additional approvals for the R/R DLBCL indication.

Genmab and AbbVie continue to evaluate the use of epcoritamab as a monotherapy, and in combination, across lines of therapy in a range of hematologic malignancies. This includes five ongoing Phase 3, open-label, randomized trials including a trial evaluating epcoritamab as a monotherapy in patients with R/R DLBCL compared to investigators choice chemotherapy (NCT04628494), a trial evaluating epcoritamab in combination with R-CHOP in adult patients with newly diagnosed DLBCL (NCT05578976), a trial evaluating epcoritamab in combination with rituximab and lenalidomide (R2) in patients with R/R FL (NCT05409066), a trial evaluating epcoritamab in combination with rituximab and lenalidomide (R2) compared to chemoimmunotherapy in patients with previously untreated FL (NCT06191744), and a trial evaluating epcoritamab in combination with lenalidomide compared to chemotherapy infusion in patients with R/R DLBCL (NCT06508658). The safety and efficacy of epcoritamab has not been established for these investigational uses. Please visit www.clinicaltrials.gov for more information.

EPKINLY™ (epcoritamab-bysp) U.S. INDICATIONS & IMPORTANT SAFETY INFORMATION

What is EPKINLY?

EPKINLY is a prescription medicine used to treat adults with certain types of diffuse large B-cell lymphoma (DLBCL), high-grade B-cell lymphoma, or follicular lymphoma (FL) that has come back or that did not respond to previous treatment after receiving 2 or more treatments. EPKINLY is approved based on patient response data. Studies are ongoing to confirm the clinical benefit of EPKINLY. It is not known if EPKINLY is safe and effective in children.

IMPORTANT SAFETY INFORMATION

Important Warnings—EPKINLY can cause serious side effects, including:

  • Cytokine release syndrome (CRS), which is common during treatment with EPKINLY and can be serious or life threatening. To help reduce your risk of CRS, you will receive EPKINLY on a step-up dosing schedule (when you receive 2 or 3 smaller step-up doses of EPKINLY before your first full dose during your first cycle of treatment), and you may also receive other medicines before and for 3 days after receiving EPKINLY. If your dose of EPKINLY is delayed for any reason, you may need to repeat the step-up dosing schedule.
  • Neurologic problems that can be life-threatening and lead to death. Neurologic problems may happen days or weeks after you receive EPKINLY.

People with DLBCL or high-grade B-cell lymphoma should be hospitalized for 24 hours after receiving their first full dose of EPKINLY on day 15 of cycle 1 due to the risk of CRS and neurologic problems.

Tell your healthcare provider or get medical help right away if you develop a fever of 100.4°F (38°C) or higher; dizziness or lightheadedness; trouble breathing; chills; fast heartbeat; feeling anxious; headache; confusion; shaking (tremors); problems with balance and movement, such as trouble walking; trouble speaking or writing; confusion and disorientation; drowsiness, tiredness or lack of energy; muscle weakness; seizures; or memory loss. These may be symptoms of CRS or neurologic problems. If you have any symptoms that impair consciousness, do not drive or use heavy machinery or do other dangerous activities until your symptoms go away.

EPKINLY can cause other serious side effects, including:

  • Infections that may lead to death. Your healthcare provider will check you for signs and symptoms of infection before and during treatment and treat you as needed if you develop an infection. You should receive medicines from your healthcare provider before you start treatment to help prevent infection. Tell your healthcare provider right away if you develop any symptoms of infection during treatment, including fever of 100.4°F (38°C) or higher, cough, chest pain, tiredness, shortness of breath, painful rash, sore throat, pain during urination, or feeling weak or generally unwell.
  • Low blood cell counts, which can be serious or severe. Your healthcare provider will check your blood cell counts during treatment. EPKINLY may cause low blood cell counts, including low white blood cells (neutropenia), which can increase your risk for infection; low red blood cells (anemia), which can cause tiredness and shortness of breath; and low platelets (thrombocytopenia), which can cause bruising or bleeding problems. Your healthcare provider will monitor you for symptoms of CRS, neurologic problems, infections, and low blood cell counts during treatment with EPKINLY.

Your healthcare provider may temporarily stop or completely stop treatment with EPKINLY if you develop certain side effects.

Before you receive EPKINLY, tell your healthcare provider about all your medical conditions, including if you have an infection, are pregnant or plan to become pregnant, or are breastfeeding or plan to breastfeed. If you receive EPKINLY while pregnant, it may harm your unborn baby. If you are a female who can become pregnant, your healthcare provider should do a pregnancy test before you start treatment with EPKINLY and you should use effective birth control (contraception) during treatment and for 4 months after your last dose of EPKINLY. Tell your healthcare provider if you become pregnant or think that you may be pregnant during treatment with EPKINLY. Do not breastfeed during treatment with EPKINLY and for 4 months after your last dose of EPKINLY.

In DLBCL or high-grade B-cell lymphoma, the most common side effects of EPKINLY include CRS, tiredness, muscle and bone pain, injection site reactions, fever, stomach-area (abdominal) pain, nausea, and diarrhea. The most common severe abnormal laboratory test results include decreased white blood cells, decreased red blood cells, and decreased platelets.

In follicular lymphoma the most common side effects of EPKINLY include injection site reactions, CRS, COVID-19, tiredness, upper respiratory tract infections, muscle and bone pain, rash, diarrhea, fever, cough, and headache. The most common severe abnormal laboratory test results include decreased white blood cells and decreased red blood cells.

These are not all of the possible side effects of EPKINLY. Call your doctor for medical advice about side effects. You are encouraged to report side effects to the FDA at (800) FDA-1088 or www.fda.gov/medwatch or to Genmab US, Inc. at 1-855-4GENMAB (1-855-443-6622).

Please see Medication Guide, including Important Warnings.

Globally, prescribing information varies; refer to the individual country product label for complete information.

About Genmab

Genmab is an international biotechnology company with a core purpose of guiding its unstoppable team to strive toward improving the lives of patients with innovative and differentiated antibody therapeutics. For more than 25 years, its passionate, innovative and collaborative team has invented next-generation antibody technology platforms and leveraged translational, quantitative and data sciences, resulting in a proprietary pipeline including bispecific T-cell engagers, antibody-drug conjugates, next-generation immune checkpoint modulators and effector function-enhanced antibodies. By 2030, Genmab’s vision is to transform the lives of people with cancer and other serious diseases with knock-your-socks-off (KYSO) antibody medicines®.

Established in 1999, Genmab is headquartered in Copenhagen, Denmark, with international presence across North America, Europe and Asia Pacific. For more information, please visit Genmab.com and follow us on LinkedIn and X.

This Company Announcement contains forward looking statements. The words “believe,” “expect,” “anticipate,” “intend” and “plan” and similar expressions identify forward looking statements. Actual results or performance may differ materially from any future results or performance expressed or implied by such statements. The important factors that could cause our actual results or performance to differ materially include, among others, risks associated with preclinical and clinical development of products, uncertainties related to the outcome and conduct of clinical trials including unforeseen safety issues, uncertainties related to product manufacturing, the lack of market acceptance of our products, our inability to manage growth, the competitive environment in relation to our business area and markets, our inability to attract and retain suitably qualified personnel, the unenforceability or lack of protection of our patents and proprietary rights, our relationships with affiliated entities, changes and developments in technology which may render our products or technologies obsolete, and other factors. For a further discussion of these risks, please refer to the risk management sections in Genmab’s most recent financial reports, which are available on www.genmab.comand the risk factors included in Genmab’s most recent Annual Report on Form 20-F and other filings with the U.S. Securities and Exchange Commission (SEC), which are available at www.sec.gov. Genmab does not undertake any obligation to update or revise forward looking statements in this Company Announcement nor to confirm such statements to reflect subsequent events or circumstances after the date made or in relation to actual results, unless required by law.

Genmab A/S and/or its subsidiaries own the following trademarks: Genmab®; the Y-shaped Genmab logo®; Genmab in combination with the Y-shaped Genmab logo®; HuMax®; DuoBody®; HexaBody®; DuoHexaBody®, HexElect® and KYSO®. EPCORE®, EPKINLY®, TEPKINLY® and their designs are trademarks of AbbVie Biotechnology Ltd.

i Lymphoma Research Foundation official website. https://lymphoma.org/aboutlymphoma/nhl/fl/. Accessed November 2024.

ii Leukemia & Lymphoma Society. https://www.lls.org/research/follicular-lymphoma-fl. Accessed November 2024.

iii Ghione P, Palomba ML, Ghesquieres H, et al. Treatment patterns and outcomes in relapsed/refractory follicular lymphoma: results from the international SCHOLAR-5 study. Haematologica. 2023;108(3):822-832. doi: 10.3324/haematol.2022.281421.

iv Rivas-Delgado A, Magnano L, Moreno-Velázquez M, et al. Response duration and survival shorten after each relapse in patients with follicular lymphoma treated in the rituximab era. Br J Haematol. 2018;184(5):753-759. doi:10.1111/bjh.15708.

v Al-Tourah AJ, Gill KK, Chhanabhai M, et al. Population-based analysis of incidence and outcome of transformed non-Hodgkin’s lymphoma. J Clin Oncol. 2008 Nov 10;26(32):5165-9. doi: 10.1200/JCO.2008.16.0283. Epub 2008 Oct 6. PMID: 18838711.

vi Engelberts PJ, et al. DuoBody-CD3xCD20 Induces Potent T-Cell-Mediated Killing of Malignant B Cells in Preclinical Models and Provides Opportunities for Subcutaneous Dosing. EBioMedicine. 2020;52:102625. doi: 10.1016/j.ebiom.2019.102625.

 

Marisol Mendez Peron, Senior Vice President, Global Communications & Corporate Affairs

T: +1 609 955-2392; E: [email protected]

Andrew Carlsen, Vice President, Head of Investor Relations

T: +45 3377 9558; E: [email protected]

KEYWORDS: Europe Denmark United States North America

INDUSTRY KEYWORDS: Science Biotechnology Research Pharmaceutical Oncology Health FDA Clinical Trials

MEDIA:

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ATNM INVESTOR ALERT: Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 In ATNM To Contact Him Directly To Discuss Their Options

PR Newswire

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 In Actinium To Contact Him Directly To Discuss Their Options

If you suffered losses exceeding $75,000 in Actinium between October 31, 2022 and August 2, 2024and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).


[You may also click here for additional information]


NEW YORK
, May 1, 2025 /PRNewswire/ — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Actinium Pharmaceuticals, Inc. (“Actinium” or the “Company”) (NYSE: ATNM) and reminds investors of the May 26, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the Company’s data from Sierra Trial was unlikely to satisfy the FDA’s guidelines for the acceptance and approval of the Company’s Iomab-B BLA; (2) the additional analyses, including long-term follow-ups that purportedly demonstrated a trend towards improved Overall Survival that the Company provided to the FDA in an attempt to mitigate the Sierra Trial’s poor OS data were unlikely to satisfy the FDA’s guidelines for the acceptance and approval of the Company’s Iomab-B BLA; (3) as a result, the FDA would likely refuse to review the Iomab-B BLA or, if it did consider that BLA, that the application  in  its  current  form  was  unlikely  to  be  approved;  and  (4),  as  a  result,  Defendants’ positive  statements  about  the  Company’s  business,  operations,  and  prospects  were  materially misleading and/or lacked a reasonable basis.

As the truth about Actinium’s business reached the market, the price of Actinium’s stock suffered significant declines, harming investors. For example, on the morning of August 5, 2024, before the market opened, when Actinium issued a press release providing, among other things, a regulatory update on the planned BLA filing and the future plans for Iomab-B in the U.S. Specifically, the press release revealed the Company would need to conduct an additional clinical trial to further support the Company’s BLA filing. On this news, the price of Actinium’s common stock plummeted $3.69, or nearly 60%, to close at $2.48, on unusually high trading volume.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. 

Faruqi & Faruqi, LLP also encourages anyone with information regarding Actinium’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the Actinium Pharmaceuticals, Inc. class action, go to www.faruqilaw.com/ATNM or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

Follow us for updates on LinkedIn, on X, or on Facebook.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/atnm-investor-alert-securities-litigation-partner-james-josh-wilson-encourages-investors-who-suffered-losses-exceeding-75-000-in-atnm-to-contact-him-directly-to-discuss-their-options-302443680.html

SOURCE Faruqi & Faruqi, LLP

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CGC Investors Have Opportunity to Lead Canopy Growth Corporation Securities Fraud Lawsuit

PR Newswire


NEW YORK
, May 1, 2025 /PRNewswire/ — Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of Canopy Growth Corporation (NASDAQ: CGC) between May 30, 2024 and February 6, 2025, both dates inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 3, 2025.

So What: If you purchased Canopy Growth securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

What to do next: To join the Canopy Growth class action, go to https://rosenlegal.com/submit-form/?case_id=16092 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 3, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

Details of the case: According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Canopy Growth had incurred significant costs producing Claybourne Co. (“Claybourne”) pre-rolled joints in connection with the Claybourne product launch in Canada; (2) the foregoing costs, in addition to certain indirect costs that Canopy Growth incurred in connection with its Storz & Bickel vaporizer devices, were likely to have a significant negative impact on the Canopy Growth’s gross margins and overall financial results; (3) accordingly, defendants had overstated the efficacy of Canopy Growth’s cost reduction measures and the health of its gross margins while downplaying issues with the same; and (4) as a result, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Canopy Growth class action, go to https://rosenlegal.com/submit-form/?case_id=16092 https://rosenlegal.com/submit-form/?case_id=28116 call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.

Phillip Kim, Esq.

The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com

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SOURCE THE ROSEN LAW FIRM, P. A.

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Brazil Potash Announces Participation in Upcoming Investor Conferences and Going Concern Qualification

MANAUS, Brazil, May 01, 2025 (GLOBE NEWSWIRE) — Brazil Potash Corp. (“Brazil Potash” or the “Company”) (NYSE-American: GRO), a mineral exploration and development company with a critical mineral potash mining project, the Autazes Project, today announced its participation in several upcoming mining and agriculture investor conferences in May and June 2025.

Upcoming Conferences

Senior management will be participating in the following upcoming conferences:

  • International Fertilizer Association (IFA) Conference – May 12-14, 2025 in Monaco
  • BMO Global Farm to Market Conference – May 14-15, 2025 in New York, NY
  • CG Global Metals & Mining Conference – May 20-22, 2025 in Henderson, NV
  • Wells Fargo Industrials Conference – June 10, 2025 in Chicago, IL

Going Concern Qualification

Brazil Potash filed the Company’s annual report on Form 20-F on March 28, 2025, as amended on April 9, 2025, and has disclosed that its independent registered public accounting firm included a going concern qualification in their audit opinion for the fiscal year ended December 31, 2024.  This disclosure is being announced separately to comply with NYSE American Company Guide. The Company emphasizes that this announcement does not represent any changes or amendments to its 2024 audited financial statements or annual report. 

About Brazil Potash

Brazil Potash (NYSE-American: GRO) (www.brazilpotash.com) is developing the Autazes Project to supply sustainable fertilizers to one of the world’s largest agricultural exporters. Brazil is critical for global food security as the country has amongst the highest amounts of fresh water, arable land, and an ideal climate for year-round crop growth, but it is vulnerable as it imported over 95% of its potash fertilizer in 2021, despite having what is anticipated to be one of the world’s largest undeveloped potash basins in its own backyard. The potash produced will be transported primarily using low-cost river barges on an inland river system in partnership with Amaggi (www.amaggi.com.br), one of Brazil’s largest farmers and logistical operators of agricultural products. With an initial planned annual potash production of up to 2.4 million tons per year, Brazil Potash’s management believes it could potentially supply approximately 20% of the current potash demand in Brazil. Management anticipates 100% of Brazil Potash’s production will be sold domestically to reduce Brazil’s reliance on potash imports while concurrently mitigating approximately 1.4 million tons per year of GHG emissions.

Forward-Looking Statements Disclaimer

All statements, other than statements of historical fact, contained in this press release constitute “forward-looking statements” and are based on the reasonable expectations, estimates and projections of the Company as of the date of this press release. The words “plans,” “expects,” or “does not expect,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates,” or “does not anticipate,” or “believes,” or variations of such words and phrases or statements that certain actions, events or results “may,” “could,” “would,” “might,” or “will be taken,” “occur” or “be achieved” and similar expressions identify forward-looking statements. Forward-looking statements include, without limitation, statements regarding the Brazil Potash advisory board, the roles and expertise of the advisory board members, the status of the Company’s project, government regulation and environmental regulation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The Company disclaims any intention or obligation to update or revise any forward-looking statements, except to the extent required by applicable law. The reader is cautioned not to place undue reliance on forward-looking statements.

Contact:

Brazil Potash Investor Relations
[email protected]



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Distribution Dates and Amounts Announced for Certain BlackRock Closed-End Funds

Distribution Dates and Amounts Announced for Certain BlackRock Closed-End Funds

NEW YORK–(BUSINESS WIRE)–
Certain BlackRock closed-end funds (the “Funds”) announced distributions today as detailed below.

Municipal Funds:

National Funds

Ticker

Distribution

 

Declaration- 5/1/2025 Ex-Date- 5/15/2025 Record- 5/15/2025 Payable- 6/2/2025

 

Ticker

Distribution

Change From Prior Distribution

BlackRock Municipal Income Quality Trust*

BYM

$0.055500

–

BlackRock Long-Term Municipal Advantage Trust*

BTA

$0.049500

–

BlackRock MuniAssets Fund, Inc.*

MUA

$0.055500

–

BlackRock Municipal Income Trust*

BFK

$0.050000

–

BlackRock Investment Quality Municipal Trust, Inc.*

BKN

$0.057000

–

BlackRock Municipal Income Trust II*

BLE

$0.054000

–

BlackRock Municipal 2030 Target Term Trust

BTT

$0.046400

–

BlackRock MuniHoldings Fund*

MHD

$0.059500

–

BlackRock MuniYield Quality Fund II, Inc.*

MQT

$0.051000

–

BlackRock MuniYield Quality Fund, Inc.*

MQY

$0.058000

–

BlackRock MuniHoldings Quality Fund II, Inc.*

MUE

$0.051000

–

BlackRock MuniVest Fund II, Inc.*

MVT

$0.054000

–

BlackRock MuniYield Fund, Inc.*

MYD

$0.054500

–

BlackRock MuniYield Quality Fund III, Inc.*

MYI

$0.055500

–

BlackRock MuniVest Fund, Inc.*

MVF

$0.036000

–

BlackRock 2037 Municipal Target Term Trust

BMN

$0.093750

–

State-Specific Funds

Ticker

Distribution

Change From Prior Distribution

BlackRock MuniHoldings California Quality Fund, Inc.*

MUC

$0.053500

–

BlackRock California Municipal Income Trust*

BFZ

$0.059000

–

BlackRock MuniYield Michigan Quality Fund, Inc.*

MIY

$0.054500

–

BlackRock MuniHoldings New Jersey Quality Fund, Inc.*

MUJ

$0.054000

–

BlackRock MuniHoldings New York Quality Fund, Inc.*

MHN

$0.051500

–

BlackRock MuniYield New York Quality Fund, Inc.*

MYN

$0.051200

–

BlackRock New York Municipal Income Trust*

BNY

$0.051000

–

BlackRock MuniYield Pennsylvania Quality Fund*

MPA

$0.066000

–

BlackRock Virginia Municipal Bond Trust*

BHV

$0.051500

–

Taxable Municipal Fund:

Declaration- 5/1/2025 Ex-Date- 5/15/2025 Record- 5/15/2025 Payable- 5/30/2025

Fund

Ticker

Distribution

Change From Prior Distribution

BlackRock Taxable Municipal Bond Trust*

BBN

$0.092900

–

Taxable Fixed Income Funds:

Declaration- 5/1/2025 Ex-Date- 5/15/2025 Record- 5/15/2025 Payable- 5/30/2025

Fund

Ticker

Distribution

Change From Prior Distribution

BlackRock Floating Rate Income Trust*

BGT

$0.120280

–

BlackRock Core Bond Trust*

BHK

$0.074600

–

BlackRock Multi-Sector Income Trust*

BIT

$0.123700

–

BlackRock Income Trust, Inc.*

BKT

$0.088200

–

BlackRock Limited Duration Income Trust*

BLW

$0.113200

–

BlackRock Credit Allocation Income Trust*

BTZ

$0.083900

–

BlackRock Debt Strategies Fund, Inc.*

DSU

$0.098730

–

BlackRock Floating Rate Income Strategies Fund, Inc.*

FRA

$0.123840

–

BlackRock Corporate High Yield Fund, Inc.*

HYT

$0.077900

–

Equity Funds:

Declaration- 5/1/2025 Ex-Date- 5/15/2025 Record- 5/15/2025 Payable- 5/30/2025

Fund

Ticker

Distribution

Change From Prior

Distribution

BlackRock Resources & Commodities Strategy Trust*

BCX

$0.069700

–

BlackRock Enhanced Equity Dividend Trust

BDJ

$0.061900

–

BlackRock Energy and Resources Trust*

BGR

$0.097300

–

BlackRock Enhanced International Dividend Trust*

BGY

$0.042600

–

BlackRock Health Sciences Trust*

BME

$0.262100

–

BlackRock Health Sciences Term Trust*

BMEZ

$0.171210

(0.002760)

BlackRock Enhanced Global Dividend Trust*

BOE

$0.082700

–

BlackRock Utilities, Infrastructure & Power Opportunities Trust*

BUI

$0.136000

–

BlackRock Enhanced Large Cap Core Fund, Inc.*

CII

$0.141000

–

BlackRock Science and Technology Trust*

BST

$0.250000

–

BlackRock Science and Technology Term Trust*

BSTZ

$0.219200

(0.002610)

BlackRock Technology and Private Equity Term Trust*

BTX

$0.082340

(0.002130)

Multi-Asset Funds:

Declaration- 5/1/2025 Ex-Date- 5/15/2025 Record- 5/15/2025 Payable- 5/30/2025

Fund

Ticker

Distribution

Change From Prior

Distribution

BlackRock Capital Allocation Term Trust*

BCAT

$0.281320

(0.003430)

BlackRock ESG Capital Allocation Term Trust*

ECAT

$0.299770

(0.003820)

* In order to comply with the requirements of Section 19 of the Investment Company Act of 1940, as amended (the “1940 Act”), each of the Funds noted above posted to the DTC bulletin board and sent to its shareholders of record as of the applicable record date a Section 19 notice with the previous distribution payment. The Section 19 notice was provided for informational purposes only and not for tax reporting purposes. This information can be found in the “Closed-End Funds” section of www.blackrock.com. As applicable, the final determination of the source and tax characteristics of all distributions in 2025 will be made after the end of the year.

BlackRock Capital Allocation Term Trust (NYSE: BCAT), BlackRock ESG Capital Allocation Term Trust (NYSE: ECAT), BlackRock Science and Technology Term Trust (NYSE: BSTZ), BlackRock Health Sciences Term Trust (NYSE: BMEZ) and BlackRock Technology and Private Equity Term Trust (NYSE: BTX) have adopted a managed distribution plan (a “Plan”) to support a level monthly distribution of income, capital gains and/or return of capital, or in the case of BMEZ, BSTZ, BTX, ECAT and BCAT a monthly distribution based on an annual rate of 12% (for BMEZ, BSTZ and BTX) and 20% (for ECAT and BCAT) of the Fund’s 12-month rolling average daily net asset value calculated 5 business days prior to declaration date of each distribution. The April 2025 distribution for each of BMEZ, BSTZ, BTX, ECAT and BCAT was calculated based on the average net asset value from 4/24/2024 through 4/23/2025. Below are the 12-month rolling average daily net asset values used to calculate BMEZ, BSTZ, BTX, ECAT and BCAT’s April distributions:

BMEZ: $17.120800

BSTZ: $21.919280

BTX: $8.233480

ECAT: $17.985880

BCAT: $16.878840

The fixed amounts distributed per share or distribution rate, as applicable, are subject to change at the discretion of each Fund’s Board of Directors/Trustees. Under its Plan, each Fund will distribute all available investment income to its shareholders, consistent with its investment objectives and as required by the Internal Revenue Code of 1986, as amended (the “Code”). If sufficient income (inclusive of net investment income and short-term capital gains) is not available on a monthly basis, a Fund will distribute long-term capital gains and/or return capital to its shareholders in order to maintain a level distribution.

Each Fund’s estimated sources of the distributions paid as of April 30, 2025 and for its current fiscal year are as follows:

Estimated Allocations as of April 30, 2025

Fund

Distribution

Net Income

Net Realized Short-Term Gains

Net Realized Long-Term Gains

Return of Capital

BCX1

$0.069700

$0.014318 (21%)

$0 (0%)

$0 (0%)

$0.055382 (79%)

BDJ

$0.061900

$0.017213 (28%)

$0 (0%)

$0.044687 (72%)

$0 (0%)

BGR1

$0.097300

$0.009538 (10%)

$0 (0%)

$0 (0%)

$0.087762 (90%)

BGY1

$0.042600

$0.028033 (66%)

$0 (0%)

$0 (0%)

$0.014567 (34%)

BME

$0.262100

$0.033837 (13%)

$0 (0%)

$0.228263 (87%)

$0 (0%)

BMEZ1

$0.173970

$0.002915 (2%)

$0 (0%)

$0 (0%)

$0.171055 (98%)

BOE1

$0.082700

$0.032501 (39%)

$0 (0%)

$0.050199 (61%)

$0 (0%)

BUI1

$0.136000

$0 (0%)

$0 (0%)

$0.136000 (100%)

$0 (0%)

CII

$0.141000

$0.004268 (3%)

$0 (0%)

$0.136732 (97%)

$0 (0%)

BST1

$0.250000

$0 (0%)

$0 (0%)

$0.250000 (100%)

$0 (0%)

BSTZ

$0.221810

$0 (0%)

$0 (0%)

$0.221810 (100%)

$0 (0%)

BTX1

$0.084470

$0 (0%)

$0 (0%)

$0 (0%)

$0.084470 (100%)

BCAT1

$0.284750

$0.032379 (11%)

$0 (0%)

$0 (0%)

$0.252371 (89%)

ECAT1

$0.303590

$0.020000 (7%)

$0 (0%)

$0 (0%)

$0.283590 (93%)

 

Estimated Allocations for the Fiscal Year through April 30, 2025

Fund

Distribution

Net Income

Net Realized Short-Term Gains

Net Realized Long-Term Gains

Return of Capital

BCX1

$0.278800

$0.077301 (28%)

$0 (0%)

$0 (0%)

$0.201499 (72%)

BDJ

$0.247600

$0.228951 (92%)

$0 (0%)

$0.018649 (8%)

$0 (0%)

BGR1

$0.389200

$0.109633 (28%)

$0 (0%)

$0 (0%)

$0.279567 (72%)

BGY1

$0.170400

$0.029453 (17%)

$0 (0%)

$0 (0%)

$0.140947 (83%)

BME

$1.048400

$0.041156 (4%)

$0 (0%)

$1.007244 (96%)

$0 (0%)

BMEZ1

$0.705760

$0 (0%)

$0 (0%)

$0 (0%)

$0.705760 (100%)

BOE1

$0.330800

$0.053333 (16%)

$0 (0%)

$0.174982 (53%)

$0.102485 (31%)

BUI1

$0.544000

$0.033995 (6%)

$0 (0%)

$0.289512 (53%)

$0.220493 (41%)

CII

$0.564000

$0 (0%)

$0 (0%)

$0.564000 (100%)

$0 (0%)

BST1

$1.000000

$0 (0%)

$0 (0%)

$0.745341 (75%)

$0.254659 (25%)

BSTZ

$0.886520

$0 (0%)

$0 (0%)

$0.886520 (100%)

$0 (0%)

BTX1

$0.344000

$0 (0%)

$0 (0%)

$0 (0%)

$0.344000 (100%)

BCAT1

$1.149300

$0.071752 (6%)

$0 (0%)

$0 (0%)

$1.077548 (94%)

ECAT1

$1.224230

$0.037283 (3%)

$0 (0%)

$0 (0%)

$1.186947 (97%)

1The Fund estimates that it has distributed more than its income and net-realized capital gains in the current fiscal year; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder’s investment is paid back to the shareholder. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income’. When distributions exceed total return performance, the difference will reduce the Fund’s net asset value per share.

The amounts and sources of distributions reported are only estimates and are being provided to you pursuant to regulatory requirements and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon each Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

Fund Performance and Distribution Rate Information:

Fund

Average annual total return (in relation to NAV) for the 5-year period ending on 3/31/2025

Annualized current distribution rate expressed as a percentage of NAV as of 3/31/2025

Cumulative total return (in relation to NAV) for the fiscal year through 3/31/2025

Cumulative fiscal year distributions as a percentage of NAV as of 3/31/2025

BCX

18.16%

8.29%

7.74%

2.07%

BDJ

14.70%

8.12%

3.60%

2.03%

BGR

23.08%

8.00%

8.34%

2.00%

BGY

10.49%

8.49%

4.20%

2.12%

BME

9.46%

7.55%

3.14%

1.89%

BMEZ

5.14%

13.66%

(3.81%)

3.48%

BOE

11.96%

8.38%

0.47%

2.10%

BUI

11.63%

7.27%

0.91%

1.82%

CII

15.65%

8.46%

(4.66%)

2.12%

BST

12.35%

8.73%

(11.51%)

2.18%

BSTZ

11.05%

13.91%

(14.50%)

3.47%

BTX*

(16.50%)

15.50%

(18.99%)

3.97%

BCAT*

4.81%

22.00%

0.00%

5.57%

ECAT*

5.70%

22.39%

(2.06%)

5.66%

* Portfolio launched within the past 5 years; the performance and distribution rate information presented for this Fund reflects data from inception to 3/31/2025.

Shareholders should not draw any conclusions about a Fund’s investment performance from the amount of the Fund’s current distributions or from the terms of the Fund’s Plan.

BlackRock Debt Strategies Fund, Inc. (NYSE: DSU), BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE: FRA), BlackRock Floating Rate Income Trust (NYSE: BGT), BlackRock Corporate High Yield Fund, Inc. (NYSE: HYT), BlackRock Credit Allocation Income Trust (NYSE: BTZ), BlackRock Limited Duration Income Trust (NYSE: BLW), BlackRock Core Bond Trust (NYSE: BHK), BlackRock Multi-Sector Income Trust (NYSE: BIT), BlackRock Income Trust, Inc. (NYSE: BKT) and BlackRock Taxable Municipal Bond Trust (NYSE: BBN) have adopted a Plan to support a level monthly distribution of income, capital gains and/or return of capital. The fixed amounts distributed per share are subject to change at the discretion of each Fund’s Board of Directors/Trustees. Under its Plan, each Fund will distribute all available net income to its shareholders, consistent with its investment objectives and as required by the Code. If sufficient income (inclusive of net investment income and short-term capital gains) is not available on a monthly basis, a Fund will distribute long-term capital gains and/or return capital to its stockholders in order to maintain a level distribution. Each of the above-listed Funds is currently not relying on any exemptive relief from Section 19(b) of the Investment Company Act of 1940, as amended (the “1940 Act”). Each Fund expects that distributions under the Plan will exceed current income and capital gains and therefore will likely include a return of capital. Each Fund may make additional distributions from time to time, including additional capital gain distributions at the end of the taxable year, if required to meet requirements imposed by the Code and/or the 1940 Act.

Each Fund’s estimated sources of the distributions paid as of April 30, 2025 and for its current fiscal year are as follows:

Estimated Allocations as of April 30, 2025

Fund

Distribution

Net Income

Net Realized Short-Term Gains

Net Realized Long-Term Gains

Return of Capital

BKT2

$0.088200

$0.035176 (40%)

$0 (0%)

$0 (0%)

$0.053024 (60%)

DSU2

$0.098730

$0.058014 (59%)

$0 (0%)

$0 (0%)

$0.040716 (41%)

FRA2

$0.123840

$0.074776 (60%)

$0 (0%)

$0 (0%)

$0.049064 (40%)

BBN2

$0.092900

$0.078256 (84%)

$0 (0%)

$0 (0%)

$0.014644 (16%)

BGT2

$0.120280

$0.069447 (58%)

$0 (0%)

$0 (0%)

$0.050833 (42%)

HYT2

$0.077900

$0.056821 (73%)

$0 (0%)

$0 (0%)

$0.021079 (27%)

BTZ2

$0.083900

$0.057213 (68%)

$0 (0%)

$0 (0%)

$0.026687 (32%)

BLW2

$0.113200

$0.082701 (73%)

$0 (0%)

$0 (0%)

$0.030499 (27%)

BHK2

$0.074600

$0.047834 (64%)

$0 (0%)

$0 (0%)

$0.026766 (36%)

BIT2

$0.123700

$0.077179 (62%)

$0 (0%)

$0 (0%)

$0.046521 (38%)

 

Estimated Allocations for the Fiscal Year through April 30, 2025

Fund

Distribution

Net Income

Net Realized Short-Term Gains

Net Realized Long-Term Gains

Return of Capital

BKT2

$0.352800

$0.138632 (39%)

$0 (0%)

$0 (0%)

$0.214168 (61%)

DSU2

$0.394920

$0.240860 (61%)

$0 (0%)

$0 (0%)

$0.154060 (39%)

FRA2

$0.495360

$0.317372 (64%)

$0 (0%)

$0 (0%)

$0.177988 (36%)

BBN2

$0.371600

$0.321103 (86%)

$0 (0%)

$0 (0%)

$0.050497 (14%)

BGT2

$0.481120

$0.287292 (60%)

$0 (0%)

$0 (0%)

$0.193828 (40%)

HYT2

$0.311600

$0.230706 (74%)

$0 (0%)

$0 (0%)

$0.080894 (26%)

BTZ2

$0.335600

$0.231157 (69%)

$0 (0%)

$0 (0%)

$0.104443 (31%)

BLW2

$0.452800

$0.338064 (75%)

$0 (0%)

$0 (0%)

$0.114736 (25%)

BHK2

$0.298400

$0.197605 (66%)

$0 (0%)

$0 (0%)

$0.100795 (34%)

BIT2

$0.494800

$0.302066 (61%)

$0 (0%)

$0 (0%)

$0.192734 (39%)

2The Fund estimates that it has distributed more than its income and net-realized capital gains in the current fiscal year; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder’s investment is paid back to the shareholder. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income’. When distributions exceed total return performance, the difference will reduce the Fund’s net asset value per share.

The amounts and sources of distributions reported are only estimates and are being provided to you pursuant to regulatory requirements and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon each Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. Each Fund will send its stockholders a Form 1099-DIV for the calendar year that will illustrate how to report these distributions for federal income tax purposes.

Fund Performance and Distribution Rate Information:

Fund

Average annual total return (in relation to NAV) for the 5-year period ending on 3/31/2025

Annualized current distribution rate expressed as a percentage of NAV as of 3/31/2025

Cumulative total return (in relation to NAV) for the fiscal year through 3/31/2025

Cumulative fiscal year distributions as a percentage of NAV as 3/31/2025

BKT

(1.16%)

8.83%

3.81%

2.21%

DSU

10.48%

11.46%

0.04%

2.86%

FRA

10.42%

11.88%

(0.16%)

2.97%

BBN

1.01%

6.38%

3.57%

1.60%

BGT

10.57%

11.82%

(0.01%)

2.96%

HYT

9.44%

9.85%

0.54%

2.46%

BTZ

5.77%

9.00%

1.61%

2.25%

BLW

8.35%

9.85%

0.62%

2.46%

BHK

0.43%

8.62%

2.96%

2.16%

BIT

11.20%

10.40%

0.90%

2.60%

No conclusions should be drawn about a Fund’s investment performance from the amount of the Fund’s distributions or from the terms of the Fund’s Plan.

The amount distributed per share under a Plan is subject to change at the discretion of the applicable Fund’s Board. Each Plan will be subject to ongoing review by the Board to determine whether the Plan should be continued, modified or terminated. The Board may amend the terms of a Plan or suspend or terminate a Plan at any time without prior notice to the Fund’s shareholders if it deems such actions to be in the best interest of the Fund or its shareholders. The amendment or termination of a Plan could have an adverse effect on the market price of the Fund’s shares.

About BlackRock

BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate.

Availability of Fund Updates

BlackRock will update performance and certain other data for the Funds on a monthly basis on its website in the “Closed-end Funds” section of www.blackrock.com as well as certain other material information as necessary from time to time. Investors and others are advised to check the website for updated performance information and the release of other material information about the Funds. This reference to BlackRock’s website is intended to allow investors public access to information regarding the Funds and does not, and is not intended to, incorporate BlackRock’s website in this release.

Forward-Looking Statements

This press release, and other statements that BlackRock or a Fund may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to a Fund’s or BlackRock’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions.

BlackRock cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and BlackRock assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.

With respect to the Funds, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Funds or in a Fund’s net asset value; (2) the relative and absolute investment performance of a Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, and regulatory, supervisory or enforcement actions of government agencies relating to a Fund or BlackRock, as applicable; (8) terrorist activities, international hostilities, health epidemics and/or pandemics and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (9) BlackRock’s ability to attract and retain highly talented professionals; (10) the impact of BlackRock electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions.

Annual and Semi-Annual Reports and other regulatory filings of the Funds with the Securities and Exchange Commission (“SEC”) are accessible on the SEC’s website at www.sec.govand on BlackRock’s website at www.blackrock.com, and may discuss these or other factors that affect the Funds. The information contained on BlackRock’s website is not a part of this press release.

1-800-882-0052

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Banking Professional Services Finance

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