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Wells Fargo Confirms Termination of 2018 CFPB Compliance Consent Order

Wells Fargo Confirms Termination of 2018 CFPB Compliance Consent Order

SAN FRANCISCO–(BUSINESS WIRE)–
Wells Fargo & Company (NYSE: WFC) today confirmed that the Consumer Financial Protection Bureau’s (CFPB) 2018 consent order related to the company’s compliance risk management program has terminated. This is the twelfth consent order closed by Wells Fargo’s regulators since 2019 and the sixth since the beginning of the year.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250428635043/en/

Wells Fargo Bank branch located in the Wells Fargo Center (Photo: Wells Fargo)

Wells Fargo Bank branch located in the Wells Fargo Center (Photo: Wells Fargo)

Charlie Scharf, Wells Fargo’s CEO, said of today’s news:

“Today’s termination, along with the recent closure of other consent orders, demonstrates that we have completed much of our common risk and control infrastructure work, including work that is required by other orders. I am proud of the work done by our teams and remain confident that we will complete the work needed to close our other open consent orders. Wells Fargo is a different and stronger company today as we focus on creating long-term value for our customers, clients, communities and shareholders.”

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 34 on Fortune’s 2024 rankings of America’s largest corporations.

Cautionary Statement About Forward-Looking Statements

This news release contains forward-looking statements about our future financial performance and business. Because forward-looking statements are based on our current expectations and assumptions regarding the future, they are subject to inherent risks and uncertainties. Do not unduly rely on forward-looking statements as actual results could differ materially from expectations. Forward-looking statements speak only as of the date made, and we do not undertake to update them to reflect changes or events that occur after that date. For information about factors that could cause actual results to differ materially from our expectations, refer to our reports filed with the Securities and Exchange Commission, including the discussion under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the Securities and Exchange Commission and available on its website at www.sec.gov.

News Release Category: WF-CF

Media

Beth Richek, 980-308-1568

[email protected]

Investor Relations

John Campbell, 415-396-0523

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Banking Professional Services Finance

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Wells Fargo Bank branch located in the Wells Fargo Center (Photo: Wells Fargo)
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BigCommerce and Silk Commerce Launch Distributed Ecommerce Hub to Power Scalable Storefront Networks for Dealers, Distributors and Franchises

New solution gives manufacturers and franchisors the tools to launch and manage ecommerce storefronts across complex distributed networks

AUSTIN, Texas, April 28, 2025 (GLOBE NEWSWIRE) — BigCommerce (Nasdaq: BIGC), an open SaaS, composable ecommerce platform for fast-growing and established B2C and B2B brands and retailers, today announced the launch of Distributed Ecommerce Hub, a new joint solution with systems integrator and digital commerce agency Silk Commerce. Distributed Ecommerce Hub empowers manufacturers, brands and franchisors to rapidly create and centrally manage branded ecommerce storefronts for their dealer, distributor or franchise networks.

Developed in response to growing demand for scalable B2B2X ecommerce infrastructure, Distributed Ecommerce Hub allows organizations to create hundreds or even thousands of storefronts with centralized control over branding, catalog and reporting while still offering local flexibility for each partner. The platform is designed for businesses that have outgrown traditional multi-storefront architecture or need deeper enablement across distributed sales channels.

“Distributed Ecommerce Hub represents a step change in how manufacturers, distributors and franchises can approach ecommerce at scale,” said Lance Owide, general manager of B2B at BigCommerce. “Rather than treating each new storefront as a new custom project, brands can now enable their entire network from a single platform, accelerating time to market, improving partner performance and increasing channel control while also maintaining brand consistency and quality.”

Distributed Ecommerce Hub is built on top of BigCommerce’s powerful B2B Edition and Multi-Storefront capabilities, but extends those features through a turnkey portal experience developed by Silk Commerce. From this portal, brands can launch new stores, assign catalogs, manage themes and track performance across their entire network. Key use cases include:

  • Dealer and distributor enablement for manufacturers
  • Franchise storefront management with brand control
  • Regional ecommerce rollout for global brands
  • Direct Selling storefront provisioning

“We designed Distributed Ecommerce Hub to meet the needs of complex, distributed organizations who want to scale ecommerce without sacrificing control,” said Michael Payne, vice president of Silk Commerce. “By combining BigCommerce’s flexible, open platform with our deep systems integration experience, we’ve created a powerful solution that can support anything from five storefronts to 5,000 – or even more.”

Distributed Ecommerce Hub is now available to manufacturers, franchisors and partner-led businesses globally. For more information, visit https://www.bigcommerce.com/blog/distributed-ecommerce-hub/

About BigCommerce

BigCommerce (Nasdaq: BIGC) is a leading open SaaS and composable ecommerce platform that empowers brands, retailers, manufacturers and distributors of all sizes to build, innovate and grow their businesses online. BigCommerce provides its customers sophisticated professional-grade functionality, customization and performance with simplicity and ease-of-use. Tens of thousands of B2C and B2B companies across 150 countries and numerous industries rely on BigCommerce, including Coldwater Creek, Harvey Nichols, King Arthur Baking Co., MKM Building Supplies, United Aqua Group and Uplift Desk. For more information, please visit www.bigcommerce.com or follow us on X and LinkedIn.

About Silk Commerce

Silk Commerce is a digital commerce agency and systems integrator specializing in high-performance ecommerce solutions for enterprise businesses. With expertise in ERP integration, custom portal development, and composable architectures, Silk Commerce helps brands accelerate digital transformation and streamline complex ecommerce operations. For more information, visit www.silkcommerce.com.

BigCommerce® is a registered trademark of BigCommerce Pty. Ltd. Third-party trademarks and service marks are the property of their respective owners.

Media contact:
Brad Hem
[email protected]



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AST SpaceMobile and U.S. National Science Foundation Establish Coordination Agreement Between Satellite and Ground-Based Astronomy Operations

AST SpaceMobile and U.S. National Science Foundation Establish Coordination Agreement Between Satellite and Ground-Based Astronomy Operations

MIDLAND, Texas–(BUSINESS WIRE)–
AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, designed for both commercial and government applications, today announced it has signed a Coordination Agreement with the U.S. National Science Foundation (NSF) to implement best practices between satellite communications and ground-based optical, infrared, and radio astronomy observations.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250428237899/en/

Under this agreement, AST SpaceMobile commits to collaborate closely with NSF, its major facilities, and the broader U.S. astronomy community to mitigate any potential impact on ground-based astronomical facilities. These efforts will include adopting measures recommended by the International Astronomical Union’s Dark and Quiet Skies initiative, such as reducing satellite brightness and providing accurate, real-time satellite positioning data to observatories.

The company’s proactive efforts in minimizing interference with astronomical research underscore its dedication to environmental and scientific responsibility.

“We recognize the importance of preserving the night sky for scientific research,” said Abel Avellan, Founder, Chairman and CEO of AST SpaceMobile. “This agreement highlights our ongoing commitment to responsible stewardship of space and active cooperation with the global scientific community and ensures that our mission to eliminate connectivity gaps and make broadband accessible to all does not come at the expense of scientific discovery.”

AST SpaceMobile’s network is designed to deliver cellular broadband connectivity directly from satellites to standard mobile phones, improving connectivity in underserved areas globally and eliminating dead zones. The network will bring millions of Americans into the digital economy and enable access to vital online services such as education, healthcare, banking, jobs, and emergency response.

About AST SpaceMobile

AST SpaceMobile is building the first and only global cellular broadband network in space to operate directly with standard, unmodified mobile devices based on our extensive IP and patent portfolio, designed for both commercial and government applications. Our engineers and space scientists are on a mission to eliminate the connectivity gaps faced by today’s five billion mobile subscribers and finally bring broadband to the billions who remain unconnected. For more information, follow AST SpaceMobile on YouTube, X (Formerly Twitter), LinkedIn and Facebook. Watch this video for an overview of the SpaceMobile mission.

Forward-Looking Statements

This communication contains “forward-looking statements” that are not historical facts, and involve risks and uncertainties that could cause actual results of AST SpaceMobile to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “believes,” “estimates,” “anticipates,” “expects,” “intends,” “plans,” “may,” “will,” “would,” “potential,” “projects,” “predicts,” “continue,” or “should,” or, in each case, their negative or other variations or comparable terminology.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside AST SpaceMobile’s control and are difficult to predict.

Factors that could cause such differences include, but are not limited to: (i) expectations regarding AST SpaceMobile’s strategies and future financial performance, including AST’s future business plans or objectives, expected functionality of the SpaceMobile Service, anticipated timing of the launch of the Block 2 BlueBird satellites, anticipated demand and acceptance of mobile satellite services, prospective performance and commercial opportunities and competitors, the timing of obtaining regulatory approvals, ability to finance its research and development activities, commercial partnership acquisition and retention, products and services, pricing, marketing plans, operating expenses, market trends, revenues, liquidity, cash flows and uses of cash, capital expenditures, and AST SpaceMobile’s ability to invest in growth initiatives; (ii) the negotiation of definitive agreements with mobile network operators relating to the SpaceMobile Service that would supersede preliminary agreements and memoranda of understanding and the ability to enter into commercial agreements with other parties or government entities; (iii) the ability of AST SpaceMobile to grow and manage growth profitably and retain its key employees and AST SpaceMobile’s responses to actions of its competitors and its ability to effectively compete; (iv) changes in applicable laws or regulations; (v) the possibility that AST SpaceMobile may be adversely affected by other economic, business, and/or competitive factors; (vi) the outcome of any legal proceedings that may be instituted against AST SpaceMobile; and (vii) other risks and uncertainties indicated in the Company’s filings with the Securities and Exchange Commission (SEC), including those in the Risk Factors section of AST SpaceMobile’s Form 10-K filed with the SEC on March 3, 2025.

AST SpaceMobile cautions that the foregoing list of factors is not exclusive. AST SpaceMobile cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors in AST SpaceMobile’s Form 10-K filed with the SEC on March 3, 2025. AST SpaceMobile’s securities filings can be accessed on the EDGAR section of the SEC’s website at www.sec.gov. Except as expressly required by applicable securities law, AST SpaceMobile disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Investor:

Scott Wisniewski

[email protected]

Media:

Allison

Eva Murphy Ryan

917-547-7289

[email protected]

KEYWORDS: United States North America Texas

INDUSTRY KEYWORDS: Satellite Mobile/Wireless Technology Carriers and Services Telecommunications

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LifeMD Acquires Women’s Health Provider Optimal Human Health MD to Accelerate Entry into the Women’s Health Market

Acquisition Establishes Clinical and Operational Foundation for LifeMD’s Comprehensive Women’s Health Offering, Launching Summer 2025

NEW YORK, April 28, 2025 (GLOBE NEWSWIRE) — LifeMD, Inc. (Nasdaq: LFMD), a leading provider of virtual primary care services, today announced the acquisition of key assets from Optimal Human Health MD (“Optimal”), a nationwide women’s health virtual care provider. This strategic acquisition marks LifeMD’s official entry into the women’s health market and establishes a scalable clinical foundation for a comprehensive virtual health program under the LifeMD brand, focused on hormone health, bone density, metabolism, and long-term wellness.

With women’s health historically underserved—particularly in areas such as perimenopause, menopause, and hormonal balance—LifeMD’s expansion addresses a significant unmet need for accessible, personalized, and high-quality care. The new women’s health offering is expected to launch this summer and will provide services through LifeMD’s vertically integrated platform.

“Expanding LifeMD’s virtual care, prescription, and wellness portfolio into adjacent markets where traditional U.S. healthcare has consistently failed to meet the needs of patients—particularly women—is central to our growth strategy,” said Jessica Friedeman, Chief Marketing Officer and Head of Women’s Health at LifeMD. “Our upcoming women’s health programs are particularly compelling because they allow us to fully leverage our national provider network, partnerships with Quest and Labcorp, in-house mail-order pharmacy, behavioral health services, and nutrition and wellness capabilities. Together, these assets position us to build what we believe will be the most comprehensive virtual-first women’s health offering in the country. Just as importantly, many of these services will be accessible through private and government insurance, further increasing affordability and reach for our patients.”

Despite increasing awareness, women’s health remains one of the most underserved areas in medicine—extending far beyond maternity and reproductive care. Natural transitions like menopause—and conditions like osteoporosis—are chronically underdiagnosed and/or undertreated: only one in four women seeks treatment for menopause-related symptoms, and while women represent 80% of osteoporosis cases, over two-thirds remain undiagnosed. According to BCG, these two areas alone represent a projected market opportunity of $60–70 billion by 2030—over six times larger than today—highlighting the scale and urgency of building solutions that meet the unique health needs of women at every stage of life.

The transaction brings on board Optimal’s highly trained team—including nurse practitioners, registered dietitians, and patient care staff—as well as Dr. Doug Lucas, Optimal’s founder and a widely respected leader in osteoporosis reversal and hormone optimization. Dr. Lucas is the author of two best-selling books, The Osteoporosis Breakthrough and Top 10 Reasons Why Your Hormones Are Failing You, and hosts the popular YouTube channel “The Dr. Doug Show: Bones, Hormones, and HealthSpan.” He brings decades of clinical experience and thought leadership to LifeMD, where he will play a central role in shaping the company’s women’s health strategy.

“LifeMD’s platform provides the reach and operational sophistication to bring world-class women’s health care to a broader population,” said Dr. Lucas. “With increased awareness around menopause-related symptoms as well as conditions like osteoporosis—along with rising demand for personalized wellness solutions—I’m excited to expand the work we started at Optimal and deliver next-generation care through LifeMD.”

The acquisition is aligned with LifeMD’s broader strategy of scaling high-demand specialty care verticals through proven clinical models and platform integration, following the success of Rex MD in men’s health. LifeMD is uniquely equipped to deliver differentiated care at scale, supported by its 50-state affiliated medical group, national lab and pharmacy infrastructure, and an expanding patient base across both cash-pay and insurance-covered models.

Interested patients can join the waitlist at https://lifemd.com/womens-health/.

About LifeMD, Inc.

LifeMD® is a leading provider of virtual primary care. LifeMD offers telemedicine, access to laboratory and pharmacy services, and specialized treatment across more than 200 conditions, including primary care, men’s and women’s health, weight management, and hormone therapy. The Company leverages a vertically integrated, proprietary digital care platform, a 50-state affiliated medical group, a 22,500-square-foot affiliated pharmacy, and a U.S.-based patient care center to increase access to high-quality and affordable care. For more information, please visit LifeMD.com.

Cautionary Note Regarding Forward Looking Statements

This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended; Section 21E of the Securities Exchange Act of 1934, as amended; and the safe harbor provision of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this news release may be identified by the use of words such as: “believe,” “expect,” “anticipate,” “project,” “should,” “plan,” “will,” “may,” “intend,” “estimate,” “predict,” “continue,” and “potential,” or, in each case, their negative or other variations or comparable terminology referencing future periods. Examples of forward-looking statements include, but are not limited to, statements regarding our financial outlook and guidance, short and long-term business performance and operations, future revenues and earnings, regulatory developments, legal events or outcomes, ability to comply with complex and evolving regulations, market conditions and trends, new or expanded products and offerings, growth strategies, underlying assumptions, and the effects of any of the foregoing on our future results of operations or financial condition.

Forward-looking statements are not historical facts and are not assurances of future performance. Rather, these statements are based on our current expectations, beliefs, and assumptions regarding future plans and strategies, projections, anticipated and unanticipated events and trends, the economy, and other future conditions, including the impact of any of the aforementioned on our future business. As forward-looking statements relate to the future, they are subject to inherent risk, uncertainties, and changes in circumstances and assumptions that are difficult to predict, including some of which are out of our control. Consequently, our actual results, performance, and financial condition may differ materially from those indicated in the forward-looking statements. These risks and uncertainties include, but are not limited to, “Risk Factors” identified in our filings with the Securities and Exchange Commission, including, but not limited to, our most recently filed Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and any amendments thereto. Even if our actual results, performance, or financial condition are consistent with forward-looking statements contained in such filings, they may not be indicative of our actual results, performance, or financial condition in subsequent periods.

Any forward-looking statement made in the news release is based on information currently available to us as of the date on which this release is made. We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as may be required under applicable law or regulation.

Investor Contact

Marc Benathen, Chief Financial Officer
[email protected]

Media Contact

Jessica Friedeman, Chief Marketing Officer
[email protected]



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Kairos Pharma, Ltd. Announces Data to be Presented at the American Society of Clinical Oncology (ASCO) 2025 Annual Meeting

Kairos Pharma, Ltd. Announces Data to be Presented at the American Society of Clinical Oncology (ASCO) 2025 Annual Meeting

LOS ANGELES–(BUSINESS WIRE)–
Kairos Pharma, Ltd. (NYSE American: KAPA), a clinical stage biopharmaceutical company, announces it will be presenting at the American Society of Clinical Oncology (ASCO) 2025 Annual Meeting to be held May 30-June 3, 2025 at McCormick Place, Chicago, Ill.

The poster is titled, “Effect of KROS 101, a small molecule GITR ligand agonist, on T effector cells, T reg cells and intratumoral CD8 T cell cytotoxicity,” and will be presented on June 2.

John Yu, M.D., Kairos CEO commented, “We look forward to the opportunity to continue to share data regarding our platform assets at one of the most prestigious oncology meetings in the world. We believe that KROS 101 has the potential to help optimize cancer treatment and we look forward to discussing our findings with the medical and scientific communities.”

About Kairos Pharma, Ltd.

Based in Los Angeles, California, Kairos Pharma, Ltd. (NYSE American: KAPA) is at the forefront of oncology therapeutics, utilizing structural biology to overcome drug resistance and immune suppression in cancer. Our lead candidate, ENV105, is an antibody that targets CD105 – a protein identified as a key driver of resistance to various cancer treatments. Elevation of CD105 in response to standard therapy results in resistance and disease relapse. ENV105 aims to reverse drug resistance by targeting CD105 and restore the effectiveness of standard therapies across multiple cancer types. Currently, ENV105 is in a Phase 2 clinical trial for castrate-resistant prostate cancer and a Phase 1 trial for lung cancer, with the trials aimed at addressing significant unmet medical needs. For more information, visit kairospharma.com.

CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements as those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential” or “hopes” or the negative of these or similar terms. The reader is cautioned not to rely on these forward-looking statements. If underlying assumptions prove inaccurate, or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Kairos Pharma. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance. In evaluating these forward-looking statements, you should consider various factors, including: our expectations regarding the success and/or completion of our Phase 1 and Phase 2 clinical trials; our success in completing newly initiated clinical trials, commence new trials, and obtain regulatory approval following the conclusion of such trials; challenges and uncertainties inherent in product research and development; and the uncertainty regarding future commercial success. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking statements discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us, including those described in Kairos Pharma’s Annual Report on Form 10-K and our other filings made with the SEC. We are not obligated to publicly update or revise any forward-looking statement, and Kairos Pharma is not required to update any forward-looking statement as a result of new information or future events or developments, except as required by U.S. federal securities laws.

CORE IR

Louie Toma

[email protected]

KEYWORDS: United States North America California Illinois

INDUSTRY KEYWORDS: Oncology Health Clinical Trials Research Science Pharmaceutical Biotechnology

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Diversified Healthcare Trust Closes $109 Million 10-Year Fixed-Rate Mortgage Financing Secured by Seven SHOP Communities

Diversified Healthcare Trust Closes $109 Million 10-Year Fixed-Rate Mortgage Financing Secured by Seven SHOP Communities

Expects to Close $94 Million of Additional Secured Financings by the End of May 2025

NEWTON, Mass.–(BUSINESS WIRE)–Diversified Healthcare Trust (Nasdaq: DHC) today announced that it closed a $109 million 10-year fixed rate mortgage financing through Freddie Mac. The loan is secured by seven senior living communities consisting of 1,184 units located in five states that are managed by Five Star Senior Living, the operating division of AlerisLife Inc. The loan has a 6.22% fixed interest rate, with interest only payable during the first 5 years and matures on May 1, 2035. DHC intends to use the loan proceeds to redeem a portion of its outstanding 9.750% senior notes due 2025.

Based on the 2024 NOI for the seven collateral communities, the appraised value of $236 million reflects an implied cap rate of 7.3%, or approximately $199,000 per unit. The loan-to-value ratio on the financing is approximately 47%.

As previously disclosed, DHC has two additional executed term sheets with different lenders for total loan proceeds of approximately $94 million. Those loans are expected to close by the end of May 2025. Those proceeds, in combination with the $109 million of Freddie Mac loan proceeds and cash on hand, provide ample liquidity to redeem DHC’s 9.75% senior notes due 2025.

Matt Brown, Chief Financial Officer and Treasurer of DHC, made the following statement:

“This new 10-year loan through Freddie Mac highlights DHC’s ability to execute on refinancing opportunities and accretively reduce our interest expense. We believe the appraised value of approximately $199,000 per unit highlights the quality and value of assets within our portfolio.”

About Diversified Healthcare Trust

DHC is a real estate investment trust focused on owning high-quality healthcare properties located throughout the United States. DHC seeks diversification across the health services spectrum by care delivery and practice type, by scientific research disciplines and by property type and location. As of December 31, 2024, DHC’s approximately $7.2 billion portfolio included 367 properties in 36 states and Washington, D.C., occupied by approximately 450 tenants, and totaling approximately 8.0 million square feet of medical office and life science properties and more than 27,000 senior living units. DHC is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with over $40 billion in assets under management as of December 31, 2024 and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. DHC is headquartered in Newton, MA. For more information, visit www.dhcreit.com.

WARNING CONCERNING FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Also, whenever DHC uses words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “may” and negatives or derivatives of these or similar expressions, DHC is making forward-looking statements. These forward-looking statements are based upon DHC’s present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. For example:

  • DHC currently intends to use the proceeds from this financing to redeem a portion of its outstanding 9.750% senior notes due 2025; however, the redemption may not occur or may be delayed;
  • DHC has executed two term sheets with lenders for total loan proceeds of approximately $94 million, which loans are expected to close by the end of May 2025. However, DHC cannot be sure it will close either or both of these loans for the expected proceeds or at all or that the closings of these loans will not be delayed; and
  • Mr. Brown’s statement regarding DHC’s ability to execute on refinancing opportunities and accretively reduce its interest expense and the quality and value of assets within DHC’s portfolio may imply that DHC will be able to execute additional secured financings at reduced interest rates; however, DHC may not be able to execute on its financing strategies or have sufficient liquidity available to fund its upcoming debt maturities and capital needs.

Actual results may differ materially from those contained in or implied by DHC’s forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond DHC’s control.

The information contained in DHC’s filings with the SEC, including under the caption “Risk Factors” in DHC’s periodic reports, or incorporated therein, identifies other important factors that could cause differences from DHC’s forward-looking statements. DHC’s filings with the SEC are available on the SEC’s website at www.sec.gov.

You should not place undue reliance upon forward-looking statements.

Except as required by law, DHC does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.‎

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.

No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

Bryan Maher, Senior Vice President

(617) 796-8234

KEYWORDS: United States North America Massachusetts

INDUSTRY KEYWORDS: Commercial Building & Real Estate Construction & Property Finance General Health Health Asset Management Professional Services REIT

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Alnylam Receives Positive CHMP Opinion for Vutrisiran for the Treatment of ATTR Amyloidosis with Cardiomyopathy

Alnylam Receives Positive CHMP Opinion for Vutrisiran for the Treatment of ATTR Amyloidosis with Cardiomyopathy

− Recommended Approval Based on the Pivotal HELIOS-B Phase 3 Study in which Vutrisiran Demonstrated Significant Reductions in Mortality and Cardiovascular Events, While Preserving Functional Status and Quality of Life –

− Offers a Clinically Differentiated Approach with Rapid and Sustained Transthyretin (TTR) Knockdown and Quarterly Subcutaneous Dosing –

− Follows Recent Approvals in the U.S. and Brazil −

− European Commission Decision Expected in June 2025 –

CAMBRIDGE, Mass.–(BUSINESS WIRE)–
Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), the leading RNA interference (RNAi) therapeutics company, today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has adopted a positive opinion recommending approval of its RNAi therapeutic vutrisiran for the treatment of wild type or hereditary transthyretin amyloidosis in adult patients with cardiomyopathy (ATTR-CM). ATTR-CM is a debilitating, rapidly progressive and potentially fatal disease for which there are limited treatment options. Vutrisiran is currently approved in the European Union (EU) under the brand name AMVUTTRA® for the treatment of hereditary transthyretin-mediated (hATTR) amyloidosis in adult patients with stage 1 or stage 2 polyneuropathy.

ATTR-CM is caused by the deposition of misfolded transthyretin (TTR) fibrils, which drive progressive and irreversible cardiovascular damage and premature death. Vutrisiran is an RNAi therapeutic that works upstream to reduce the production of TTR at its source, resulting in sustained TTR knockdown. In Europe, it is administered as a subcutaneous injection once every three months, either by a healthcare professional, or self-administered by patients or their caregivers, offering flexibility in treatment delivery. Vutrisiran has the potential to be the first and only RNAi therapeutic to receive European Commission approval for ATTR-CM, offering a clinically differentiated approach to the treatment of this disease.

“This positive CHMP opinion marks another important milestone in our efforts to bring vutrisiran to people around the world living with ATTR amyloidosis with cardiomyopathy,” said Pushkal Garg, M.D., Chief Medical Officer of Alnylam. “In the HELIOS-B study, vutrisiran treatment resulted in rapid knockdown of TTR and led to improved survival, fewer hospitalizations and less disease progression in patients with ATTR-CM, nearly half of whom were on a TTR stabilizer. Combined with its quarterly dosing and well-established safety profile, we believe vutrisiran could offer an important new treatment option for patients in the EU.”

The CHMP opinion was based on positive results from the pivotal HELIOS-B Phase 3, randomized, double-blind, placebo-controlled multicenter global study, which met all 10 of its pre-specified primary and secondary endpoints across both the overall and monotherapy populations. The findings demonstrated the benefits of vutrisiran on outcomes of mortality and cardiovascular events, as well as functional capacity (6-minute walk test), health status and quality of life (Kansas City Cardiomyopathy Questionnaire), and heart failure symptoms and severity (NYHA class) in patients with ATTR-CM, with consistent effects across all patient subgroups, including those on a concomitant TTR stabilizer. In HELIOS-B, rates of adverse events (AEs), serious AEs, severe AEs and AEs leading to study drug discontinuation were similar between the vutrisiran and placebo arms. The safety profile of vutrisiran is characterized by injection site reactions and increase in blood alkaline phosphatase and alanine transaminase. Detailed results from the HELIOS-B study were published in The New England Journal of Medicine.1

Vutrisiran was approved by the U.S. Food and Drug Administration (FDA) on 20 March 2025 and the Brazilian Health Regulatory Agency (ANVISA) on 31 March 2025 for the treatment of the cardiomyopathy of wild-type or hereditary ATTR-CM. It is currently under review by the Japanese Pharmaceuticals and Medical Devices Agency (PMDA). Alnylam remains on track to proceed with additional global regulatory submissions for vutrisiran in 2025 and beyond.

AMVUTTRA® (vutrisiran) INDICATION AND IMPORTANT SAFETY INFORMATION

Indication

In Europe and the UK, vutrisiran is indicated for the treatment of hATTR amyloidosis in adult patients with stage 1 or stage 2 polyneuropathy.

Important Safety Information

Reduced Serum Vitamin A Levels and Recommended Supplementation

Vutrisiran treatment leads to a decrease in serum vitamin A levels. Supplementation of approximately, but not exceeding, 2500 IU to 3000 IU vitamin A per day is advised for patients taking vutrisiran. Patients should be referred to an ophthalmologist if they develop ocular symptoms suggestive of vitamin A deficiency (e.g., night blindness).

Adverse Reactions

The most frequently occurring adverse reactions in patients treated with vutrisiran were pain in extremity and arthralgia. Other commonly reported adverse reactions with vutrisiran were dyspnoea, injection site reaction and increase in blood alkaline phosphatase.

For additional information about vutrisiran, please see the full Summary of Product Characteristics.

About AMVUTTRA® (vutrisiran)

AMVUTTRA® (vutrisiran) is an RNAi therapeutic that delivers rapid knockdown of variant and wild-type transthyretin (TTR), addressing the underlying cause of transthyretin (ATTR) amyloidosis. Administered quarterly via subcutaneous injection, vutrisiran is approved and marketed in more than 15 countries for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis (hATTR-PN) in adults. In Europe, it is administered as a subcutaneous injection once every three months, either by a healthcare professional, or self-administered by patients or their caregivers. Vutrisiran is also in development for the treatment of ATTR amyloidosis with cardiomyopathy (ATTR-CM), which encompasses both wild-type and hereditary forms of the disease.

About ATTR

Transthyretin amyloidosis (ATTR) is an underdiagnosed, rapidly progressive, debilitating and fatal disease caused by misfolded transthyretin (TTR) proteins, which accumulate as amyloid deposits in various parts of the body, including the nerves, heart and gastrointestinal tract. Patients may present with polyneuropathy, cardiomyopathy or both manifestations of disease. There are two different forms of ATTR – hereditary ATTR (hATTR), which is caused by a TTR gene variant and affects approximately 50,000 people worldwide, and wild-type ATTR (wtATTR), which occurs without a TTR gene variant and impacts an estimated 200,000-300,000 people worldwide.1-4

About RNAi

RNAi (RNA interference) is a natural cellular process of gene silencing that represents one of the most promising and rapidly advancing frontiers in biology and drug development today.5 Its discovery has been heralded as “a major scientific breakthrough that happens once every decade or so,” and was recognized with the award of the 2006 Nobel Prize for Physiology or Medicine.6 By harnessing the natural biological process of RNAi occurring in our cells, a new class of medicines known as RNAi therapeutics is now a reality. Small interfering RNA (siRNA), the molecules that mediate RNAi and comprise Alnylam’s RNAi therapeutic platform, function upstream of today’s medicines by potently silencing messenger RNA (mRNA) – the genetic precursors that encode for disease-causing or disease pathway proteins – thus preventing them from being made.5 This is a revolutionary approach with the potential to transform the care of patients with genetic and other diseases.

About Alnylam Pharmaceuticals

Alnylam (Nasdaq: ALNY) has led the translation of RNA interference (RNAi) into a whole new class of innovative medicines with the potential to transform the lives of people afflicted with rare and prevalent diseases with unmet need. Based on Nobel Prize-winning science, RNAi therapeutics represent a powerful, clinically validated approach yielding transformative medicines. Since its founding in 2002, Alnylam has led the RNAi Revolution and continues to deliver on a bold vision to turn scientific possibility into reality. Alnylam has a deep pipeline of investigational medicines, including multiple product candidates that are in late-stage development. Alnylam is executing on its “Alnylam P5x25” strategy to deliver transformative medicines in both rare and common diseases benefiting patients around the world through sustainable innovation and exceptional financial performance, resulting in a leading biotech profile. Alnylam is headquartered in Cambridge, MA.

Alnylam Forward-Looking Statements

This press release contains 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. All statements other than historical statements of fact regarding Alnylam’s expectations, beliefs, goals, plans or prospects including, without limitation, Alnylam’s expectations regarding the safety and efficacy of vutrisiran for the treatment of ATTR amyloidosis with cardiomyopathy; the potential for vutrisiran to be the first and only RNAi therapeutic to receive European Commission approval for ATTR-CM; the potential for vutrisiran to offer a clinically differentiated approach to treatment of ATTR-CM; the potential success of Alnylam’s efforts to bring vutrisiran to people around the world living with ATTR-CM; the potential for vutrisiran to offer an important new treatment option for patients in the EU; and the timing of global regulatory submissions for vutrisiran for ATTR-CM should be considered forward-looking statements. Actual results and future plans may differ materially from those indicated by these forward-looking statements as a result of various important risks, uncertainties and other factors, including, without limitation, risks and uncertainties relating to: Alnylam’s ability to successfully execute on its “Alnylam P5x25” strategy; Alnylam’s ability to successfully demonstrate the efficacy and safety of its product candidates; the pre-clinical and clinical results for Alnylam’s product candidates, including vutrisiran; actions or advice of regulatory agencies and Alnylam’s ability to obtain regulatory approval for its product candidates, including vutrisiran, as well as favorable pricing and reimbursement; successfully launching, marketing and selling Alnylam’s approved products globally; and any delays, interruptions or failures in the manufacture and supply of Alnylam’s product candidates or its marketed products; as well as those risks more fully discussed in the “Risk Factors” filed with Alnylam’s 2024 Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC), as may be updated from time to time in Alnylam’s subsequent Quarterly Reports on Form 10-Q and in its other SEC filings. In addition, any forward-looking statements represent Alnylam’s views only as of today and should not be relied upon as representing its views as of any subsequent date. Alnylam explicitly disclaims any obligation, except to the extent required by law, to update any forward-looking statements.

1 Fontana M., Berk J L, Gillmore, J D, et al. New England Journal of Medicine, 392(1), 33-44.

2 Hawkins PN, Ando Y, Dispenzeri A, et al. Ann Med. 2015;47(8):625-638.

3 Gertz MA. Am J Manag Care. 2017;23(7):S107-S112.

4 Conceicao I, Gonzalez-Duarte A, Obici L, et al. J Peripher Nerv Syst. 2016;21:5-9.

5 Ando Y, Coelho T, Berk JL, et al. Orphanet J Rare Dis. 2013;8:31.

6 Elbashir SM, Harborth J, Lendeckel W, et al. Nature. 2001;411(6836):494-498.

 

Alnylam Pharmaceuticals, Inc.

Christine Regan Lindenboom

(Investors and Media)

+1-617-682-4340

Josh Brodsky

(Investors)

+1-617-551-8276

Emily Bunting

(Media, Europe)

+41 79 866 97 03

KEYWORDS: Europe United States North America Massachusetts

INDUSTRY KEYWORDS: Cardiology Biotechnology FDA Health General Health Pharmaceutical Health Technology Research Genetics Science Clinical Trials

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Newegg Announces Fiscal Year 2024 Results

Newegg Announces Fiscal Year 2024 Results

DIAMOND BAR, Calif.–(BUSINESS WIRE)–
Newegg Commerce, Inc. (NASDAQ: NEGG), a leading global technology e-commerce retailer, today announced results for the fiscal year ended December 31, 2024.

Newegg Chief Executive Officer Anthony Chow announced, “2024 was a year defined by operational discipline and strategic focus. Throughout the year, we executed a broad range of SG&A reduction initiatives, including warehouse consolidation, subleasing unused property, and aligning our workforce to match business needs. These actions improved our bottom line, strengthened our foundation, and we believe position us for future growth. Notably, we closed the year with a strong fourth-quarter performance. Sales momentum accelerated, driven by a month-long Black Friday campaign that delivered impressive results, highlighting the effectiveness of our promotional strategy and our ability to drive engagement and conversion in a highly competitive environment. Through the first quarter of 2025, we have continued to experience positive momentum from new product launches, including the launch of NVIDIA GeForce 50 Series GPUs, AMD Radeon 9000 Series GPUs, and the latest high-end AMD Ryzen CPUs, resulting in double digit GMV growth in direct and marketplace sales on a year-over-year basis. We are also exploring new opportunities in the business-to-business software as a service space, expanding our offerings beyond traditional e-commerce and placing greater emphasis on high-growth categories such as gaming notebooks and desktops, which are experiencing a notable surge in demand. Additionally, while we’ve benefited from a pull forward in sales due to tariff warnings, we are actively monitoring the impact to sales on a post-tariff basis and are working closely with our partners to optimize under current conditions. As we move forward, we are focused on expanding our presence in the AI PC and high-performance PC segments, while forming new strategic partnerships to unlock the next phase of innovation and customer value.”

Newegg Chief Accounting Officer Christina Ching noted, “We are pleased to report significant progress following the implementation of various cost optimization measures throughout 2023 and 2024, including our real estate consolidation efforts. These actions have resulted in a notable reduction in SG&A expenses, which is reflected in our improved Adjusted EBITDA. We have also maintained a strong focus on efficient inventory management, leading to a decrease in inventory from $136.2 million as of December 31, 2023 to $98.5 million as of December 31, 2024. This reduction was largely driven by a strong sales surge during the Black Friday and Christmas holiday sales periods. We have already seen the increased demand that began with the holiday season carry over into the first quarter of 2025, driven by several new product launches. This increase in sales, combined with our SG&A reduction efforts, has begun to result in positive profitability momentum, with our Adjusted EBITDA notably moving to the positive in Q1 2025. However, a key challenge for the remainder of 2025 will be the impact of tariff policy on consumer confidence and purchasing behavior. As a result of this uncertainty, we are not prepared to deliver full year 2025 guidance at this time. As of December 31, 2024, our $50 million credit facility remained fully undrawn. Additionally, we effected a twenty-to-one share combination on April 7, 2025 in order to regain compliance with Nasdaq’s minimum bid price requirement, which we achieved on April 22, 2025.”

2024 Fiscal Year Financial Highlights

  • Net sales decreased to $1.24 billion, compared to net sales of $1.50 billion in fiscal year 2023.
  • GMV decreased to $1.53 billion, compared to GMV of $1.81 billion in fiscal year 2023.
  • Gross profit decreased to $131.5 million, compared to gross profit of $167.6 million in fiscal year 2023.
  • Net loss decreased to $43.3 million, compared to net loss of $59.0 million in fiscal year 2023.
  • Adjusted EBITDA was ($9.5) million, compared to Adjusted EBITDA of $(21.3) million in fiscal year 2023.

2024 Fiscal Year Operational Metrics

  • Average order value was $396 for the year ended December 31, 2024, compared to $379 for the prior year.
  • Active customers, defined as unique customer IDs with at least one item purchased on Newegg platforms in the past 12 months, totaled approximately 2.1 million as of December 31, 2024, a decrease from 2.5 million the prior year.
  • Repeat purchase rate, the percentage of active customers who made at least two purchases on Newegg platforms during the past 12 months, was 26.0% as of December 31, 2024, compared to 29.2% for the prior year.

The Company anticipates filing its annual report on Form 20-F for the fiscal year ended December 31, 2024, on April 28, 2025.

About Newegg

Newegg Commerce, Inc. (NASDAQ: NEGG), founded in 2001 and based in Diamond Bar, Calif., near Los Angeles, is a leading global online retailer for PC hardware, consumer electronics, gaming peripherals, home appliances, automotive and lifestyle technology. Newegg also serves businesses’ e-commerce needs with marketing, supply chain, and technical solutions in a single platform. For more information, please visit Newegg.com.

Follow Newegg on X, TikTok, Instagram, Facebook, YouTube, Twitch and Discord.

Non-GAAP Financial Information

This press release presents certain “non-GAAP” financial measures. The components of these non-GAAP measures are computed by using amounts that are determined in accordance with accounting principles generally accepted in the United States of America (“GAAP”). A reconciliation of non-GAAP financial measures used in this press release to their nearest comparable GAAP financial measures is included in the schedules attached hereto.

GMV

The Company defines gross merchandise value, or GMV, as the total dollar value of products sold on its websites and third-party marketplace platforms, directly to customers and by its Marketplace sellers through Newegg Marketplace, net of returns, discounts, taxes, and cancellations. GMV also includes the services fees charged through its Newegg Partner Services (“NPS”) in rendering services for its third-party logistics (“3PL”), shipped-by-Newegg (“SBN”), staffing and media ad services, as well as the sales made by its Asia subsidiaries.

Adjusted EBITDA

Newegg calculates Adjusted EBITDA as net income/loss, excluding stock-based compensation expense, depreciation and amortization expense, interest income, net, income tax (benefit) provision, gain/loss from warrant liabilities, gain/loss from fixed assets disposal, and gain/loss from sales of investment.

Newegg believes that exclusion of certain expenses in calculating Adjusted EBITDA facilitates operating performance comparisons on a period-to-period basis and excludes items that it does not consider to be indicative of its core operating performance. Accordingly, Newegg believes that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating its operating results in the same manner as its management and board of directors.

Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of Newegg’s results as reported under GAAP. Some of these limitations are: although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and Adjusted EBITDA does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements; Adjusted EBITDA does not reflect changes in, or cash requirements for, the working capital needs; Adjusted EBITDA does not consider the potentially dilutive impact of stock-based compensation; Adjusted EBITDA does not reflect tax payments that may represent reduction in cash available to Newegg; and other companies, including companies in our industry, may calculate Adjusted EBITDA differently, which reduces its usefulness as a comparative measure. Because of these limitations, you should consider Adjusted EBITDA alongside other financial performance measures, including various cash flow metrics, operating profit and Newegg’s other GAAP results.

Cautionary Statement Concerning Forward-Looking Statements

This news release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations, opinion, belief or forecasts of future events and performance, including those relating to future impacts of tariff policy on consumer confidence and purchasing behavior, and the filing date of Newegg’s annual report on Form 20-F for the fiscal year ended December 31, 2024. Words such as “will,” “may,” “expects,” “projects,” “anticipates,” “plans,” “believes,” “estimate,” “should,” and variations of such words or similar expressions are intended to identify such forward-looking statements. In addition, any statements other than statements of historical fact are forward-looking statements. Although Newegg believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the Company. The Company’s SEC filings are available at http://www.sec.gov.

NEWEGG COMMERCE, INC.

Consolidated Balance Sheets

December 31, 2024 and 2023

(In thousands, except par value, unaudited)

 

 

 

 

 

 

 

 

 

2024

 

2023

Assets

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

Cash and cash equivalents

 

$

96,255

 

 

$

102,512

 

Restricted cash

 

 

3,487

 

 

 

3,962

 

Accounts receivable, net

 

 

64,363

 

 

 

80,383

 

Inventories, net

 

 

98,537

 

 

 

136,164

 

Income taxes receivable

 

 

2,452

 

 

 

3,226

 

Prepaid expenses

 

 

14,222

 

 

 

13,424

 

Other current assets

 

 

4,329

 

 

 

4,780

 

Total current assets

 

 

283,645

 

 

 

344,451

 

 

 

 

 

 

 

 

 

 

Property and equipment, net

 

 

51,175

 

 

 

61,479

 

Deferred tax assets, net

 

 

914

 

 

 

1,607

 

Investment at cost

 

 

–

 

 

 

2,250

 

Right of use assets, net

 

 

60,636

 

 

 

77,150

 

Other noncurrent assets

 

 

10,951

 

 

 

12,110

 

Total assets

 

$

407,321

 

 

$

499,047

 

 

 

 

 

 

 

 

 

 

Liabilities and Stockholders’ Equity

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

Accounts payable

 

$

148,279

 

 

$

206,588

 

Accrued liabilities

 

 

48,629

 

 

 

43,014

 

Deferred revenue

 

 

26,988

 

 

 

25,614

 

Line of credit

 

 

7,069

 

 

 

7,330

 

Current portion of long-term debt

 

 

–

 

 

 

268

 

Lease liabilities – current

 

 

12,608

 

 

 

13,730

 

Total current liabilities

 

 

243,573

 

 

 

296,544

 

 

 

 

 

 

 

 

 

 

Long-term debt, less current portion

 

 

–

 

 

 

1,110

 

Income taxes payable

 

 

1,871

 

 

 

1,981

 

Lease liabilities – noncurrent

 

 

53,318

 

 

 

68,126

 

Other liabilities

 

 

2,467

 

 

 

1,894

 

Total liabilities

 

 

301,229

 

 

 

369,655

 

 

 

 

 

 

 

 

 

 

Stockholders’ Equity

 

 

 

 

 

 

 

 

Common Stock, $0.43696(1) par value; unlimited shares authorized; 19,478(1) and 19,021(1) shares issued and outstanding as of December 31, 2024 and 2023, respectively

 

 

8,512

 

 

 

8,312

 

Additional paid-in capital

 

 

289,096

 

 

 

266,774

 

Notes receivable – related party

 

 

(15,189

)

 

 

(15,189

)

Accumulated other comprehensive income (loss)

 

 

(2,300

)

 

 

194

 

Accumulated deficit

 

 

(174,027

)

 

 

(130,699

)

Total stockholders’ equity

 

 

106,092

 

 

 

129,392

 

Total liabilities and stockholders’ equity

 

$

407,321

 

 

$

499,047

 

(1)

Retroactively adjusted for the twenty-to-one share combination, effective April 7, 2025

 

NEWEGG COMMERCE, INC.

Consolidated Statements of Operations

Years ended December 31, 2024 and 2023

(In thousands, unaudited)

 

 

 

 

 

 

 

 

 

2024

 

2023

Net sales

 

$

1,235,576

 

 

$

1,496,963

 

Cost of sales

 

 

1,104,088

 

 

 

1,329,406

 

Gross profit

 

 

131,488

 

 

 

167,557

 

Selling, general, and administrative expenses

 

 

183,039

 

 

 

238,641

 

Loss from operations

 

 

(51,551

)

 

 

(71,084

)

Interest income

 

 

2,721

 

 

 

2,348

 

Interest expense

 

 

(952

)

 

 

(2,541

)

Other income, net

 

 

3,553

 

 

 

2,759

 

Gain from sales of investment

 

 

1,619

 

 

 

6,835

 

Change in fair value of warrant liabilities

 

 

4

 

 

 

11

 

Loss before provision for income taxes

 

 

(44,606

)

 

 

(61,672

)

Benefit from income taxes

 

 

(1,278

)

 

 

(2,682

)

Net loss

 

$

(43,328

)

 

$

(58,990

)

 

NEWEGG COMMERCE, INC.

Consolidated Statements of Cash Flows

Years ended December 31, 2024 and 2023

(In thousands, unaudited)

 

 

 

 

 

 

 

 

 

2024

 

2023

Cash flows from operating activities:

 

 

 

 

 

 

Net loss

 

$

(43,328

)

 

$

(58,990

)

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

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

10,703

 

 

 

13,437

 

Allowance for expected credit losses

 

 

1,208

 

 

 

245

 

Provision for obsolete and excess inventory

 

 

3,846

 

 

 

3,400

 

Stock-based compensation

 

 

27,255

 

 

 

33,660

 

Gain from sales of investment

 

 

(1,619

)

 

 

(6,835

)

Change in fair value of warrant liabilities

 

 

(4

)

 

 

(11

)

Loss on disposal of property and equipment

 

 

600

 

 

 

180

 

Unrealized loss on marketable securities

 

 

5

 

 

 

4

 

Deferred income taxes

 

 

726

 

 

 

(679

)

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

Accounts receivable

 

 

14,473

 

 

 

2,758

 

Inventories

 

 

32,882

 

 

 

16,781

 

Prepaid expenses

 

 

(850

)

 

 

3,583

 

Other assets

 

 

17,416

 

 

 

7,086

 

Accounts payable

 

 

(57,403

)

 

 

(898

)

Accrued liabilities and other liabilities

 

 

(8,365

)

 

 

(12,063

)

Deferred revenue

 

 

1,634

 

 

 

(5,497

)

Net cash used in operating activities

 

 

(821

)

 

 

(3,839

)

Cash flows from investing activities:

 

 

 

 

 

 

 

 

Payments to acquire property and equipment

 

 

(3,618

)

 

 

(30,265

)

Proceeds on disposal of property and equipment

 

 

2,194

 

 

 

176

 

Proceeds from sale of investment

 

 

3,869

 

 

 

15,835

 

Net cash provided by (used in) investing activities

 

 

2,445

 

 

 

(14,254

)

Cash flows from financing activities:

 

 

 

 

 

 

 

 

Borrowings under line of credit

 

 

72,479

 

 

 

66,502

 

Repayments under line of credit

 

 

(72,474

)

 

 

(65,098

)

Repayments of long-term debt

 

 

(1,325

)

 

 

(264

)

Proceeds from exercise of stock options

 

 

113

 

 

 

1,194

 

Payments for employee taxes related to stock compensation

 

 

(1,343

)

 

 

(774

)

Repurchase and retirement of common stock

 

 

(3,503

)

 

 

—

 

Net cash provided by (used in) financing activities

 

 

(6,053

)

 

 

1,560

 

Foreign currency effect on cash, cash equivalents and restricted cash

 

 

(2,303

)

 

 

(499

)

Net decrease in cash, cash equivalents and restricted cash

 

 

(6,732

)

 

 

(17,032

)

Cash, cash equivalents and restricted cash:

 

 

 

 

 

 

 

 

Beginning of period

 

 

106,474

 

 

 

123,506

 

End of period

 

$

99,742

 

 

$

106,474

 

 

Schedule 1

Reconciliation of Net Sales to GMV

 

 

 

 

 

 

For the Year Ended

December 31,

 

 

2024

 

2023

 

 

(in millions)

Net Sales

 

$

1,235.6

 

 

$

1,497.0

 

Adjustments:

 

 

 

 

 

 

 

 

GMV – Marketplace

 

 

318.6

 

 

 

369.7

 

Marketplace Commission

 

 

(25.9

)

 

 

(33.6

)

Deferred Revenue

 

 

7.1

 

 

 

(5.4

)

Other

 

 

(1.7

)

 

 

(15.2

)

GMV

 

$

1,533.7

 

 

$

1,812.5

 

 

Schedule 2

Reconciliation of Net Income to Adjusted EBITDA

 

 

 

 

 

 

For the Year Ended

December 31,

 

 

2024

 

2023

 

 

(in millions)

Net loss

 

$

(43.3

)

 

$

(59.0

)

Adjustments:

 

 

 

 

 

 

 

 

Stock-based compensation expenses

 

 

27.3

 

 

 

33.7

 

Interest (income) expense, net

 

 

(1.7

)

 

 

0.2

 

Income tax benefit

 

 

(1.3

)

 

 

(2.7

)

Depreciation and amortization

 

 

10.7

 

 

 

13.4

 

Loss from fixed assets disposal

 

 

0.5

 

 

 

—

 

Gain from sale of investment

 

 

(1.6

)

 

 

(6.8

)

Gain from change in fair value of warrant liabilities

 

 

(0.1

)

 

 

(0.1

)

Adjusted EBITDA

 

$

(9.5

)

 

$

(21.3

)

 

Newegg Commerce, Inc.:

Investor Relations

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Software Entertainment Online Retail Internet Hardware Consumer Electronics Specialty Electronic Commerce Technology Retail Audio/Video Electronic Games

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Financial Services Firms Deepen Client Engagement with ON24-powered Digital Experiences

Financial Services Firms Deepen Client Engagement with ON24-powered Digital Experiences

New research reveals how digital-first strategies are driving stronger relationships and propelling business outcomes

SAN FRANCISCO–(BUSINESS WIRE)–
ON24 (NYSE: ONTF), a leading intelligent engagement platform for B2B sales and marketing, today released its 2025 Financial Services Digital Engagement Benchmarks Report, highlighting how financial services and asset management firms are transforming client education through digital engagement. The findings show a surge in interactive, data-driven experiences, with firms leveraging first-party engagement from webinars, virtual events, and content hubs to foster deeper relationships, enhance awareness and drive pipeline growth.

“The finance industry isn’t just going digital – it’s racing towards hyper-personalization,” said Mark Bornstein, VP of Marketing, ON24. “Our research shows that firms that combine scalability with personalization see stronger engagement, more meaningful client interactions and ultimately, better business outcomes. The ON24 platform is helping leading financial services organizations deliver high-value education and thought leadership at scale while gaining critical first-party data to refine their strategies.”

Key findings from the 2025 Financial Services Digital Engagement Benchmarks Report

The report provides industry-wide benchmarks and best practices for financial services professionals looking to optimize digital engagement with advisors, brokers, individual and institutional clients. Notable findings include:

  • Webinars remain essential for client engagement –financial services webinars attracted an average of 185 attendees per session, with an average engagement duration of 46 minutes.
  • Personalization drives higher conversions – meeting bookings driven from personalized experiences rose by 2.5X year-over-year — a rate nearly five times greater than the 30% uplift observed across all sectors.
  • Interactivity continues to increase – the average number of questions asked per financial services webinar reached 15, slightly ahead of the global all-industry average, demonstrating increased audience participation and interest in digital learning.
  • Advisors are demonstrating stronger intent – financial services webinars saw a 6% year-over-year increase in calls-to-action (CTA) conversions, signaling stronger audience intent and engagement.
  • Content hubs drive sustained interaction – financial services firms saw a 48% conversion rate on content hubs, with consultation requests up 60% and ‘contact us’ requests per visitor rising 51%—over 3X the industry average.

To get more insights, download the 2025 Financial Services Digital Engagement Benchmarks Report here.

About ON24

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AEye Sends Letter to Stockholders Regarding the 2025 Annual Meeting

AEye Sends Letter to Stockholders Regarding the 2025 Annual Meeting

Reaffirms the Company’s Focus on Driving Long-Term Value Creation

Urges Stockholders to Vote Only with the WHITE Proxy Card “FOR” ALL Company Proposals, Including AEye’s Highly Qualified Director Nominees, and “AGAINST” ALL Shareholder Proposals

PLEASANTON, Calif.–(BUSINESS WIRE)–
AEye, Inc. (Nasdaq: LIDR), a global leader in adaptive, high-performance lidar solutions, sent a letter to stockholders today highlighting key information to support informed voting at its upcoming annual meeting on May 15, 2025. Stockholders of record as of April 4, 2025 are entitled to vote at this year’s meeting.

AEye urges stockholders to protect their investment and the future of the Company by voting only on the WHITE proxy card “FOR” AEye’s nominees, Timothy Dunn and Sue Zeifman, and “AGAINST” the dissident nominees. AEye strongly opposes dissident nominees Ransom Wuller and Pamela Bauer, as their lack of qualifications, independence, and track record pose significant risk to the Company and its stockholders.

AEye’s current Board and management team bring critical, business-relevant expertise and are repositioning the Company to capture the significant opportunity in the lidar market. As we continue to execute our strategy and deliver advanced products like Apollo, we remain focused on creating value for our stockholders.

The Board and management team are more optimistic than ever about the Company’s long-term outlook and strategic direction. We must stay the course and re-elect the Company’s highly qualified nominees, Timothy Dunn and Sue Zeifman, to support our revitalized strategy and path to profitability at this pivotal time.

The Company’s proxy statement, which contains other important information related to voting at the Annual Meeting, as well as the accompanying WHITE proxy card and other relevant documents can be found at investors.aeye.ai/financial-information/sec-filings or at the SEC’s website at www.sec.gov.

The full text of the letter follows:

***

April 28, 2025

Dear Fellow Stockholders of AEye, Inc.:

Thank you for your continued investment and interest in AEye, Inc. (“AEye” or the “Company”).

Your vote at this year’s 2025 annual meeting of stockholders (the “Annual Meeting”), scheduled for May 15, 2025, is critically important.

 

To protect your investment, we strongly recommend that you vote the enclosed WHITE proxy card today “FOR” both of AEye’s qualified and experienced director nominees: Timothy J. Dunn and Sue E. Zeifman.

This year will mark our fourth annual meeting of stockholders since becoming a public company, and we are excited by AEye’s strategic path and outlook to create and maximize long-term stockholder value.

Since 2023, our Board of Directors (“Board”) and new leadership team have executed on a clear strategy that generates fundamental growth for the business and best positions AEye for long-term success. As you may be aware from prior communications, we are in the middle of a pivotal process of revitalizing our business and refocusing our strategy to capture the significant opportunity in the lidar market. We are excited by our recent innovation in advanced, market-ready lidar solutions, like Apollo, and our renewed ability to execute on our aggressive growth goals.

Our Chairman and CEO, Matthew Fisch, inherited a company with great technological promise but facing several significant challenges, including undisciplined capital allocation and product development that left the company in peril. Mr. Fisch has remained focused on building a resilient business capable of withstanding economic headwinds while prioritizing innovation and customer growth. In the two years since he joined the Company, AEye has:

  • Released Apollo, a game-changing lidar product that has leapfrogged the competition in terms of performance and size, which was developed and brought to market in record time while cutting overhead and simplifying the supply chain infrastructure.
  • Reduced quarterly spend by 75% since 2023 – the first step of the management team’s aggressive capital discipline. We anticipate maintaining that 75% reduction in spend – the lowest cost structure since the Company went public.
  • Proactively raised an additional $24 million over the past 14 months to extend our runway and fortify our business and its strategy against the near-term headwinds that our industry faces.
  • Successfully retained critical talent despite disgruntled stockholders limiting the compensation incentive tools at our disposal.
  • Positioned AEye to take advantage of the huge upcoming market opportunity in ADAS; actively working with industry leaders, like Nvidia, to take advantage of the market opportunities that they are creating in the autonomous driving space.
  • Created a partnership with a top-tier manufacturing partner to ensure forthcoming productization is on-time and on-budget.
  • Created the largest customer pipeline in the Company’s history through a relentless focus on customer needs, continuously engaging with customers and responsively iterating on products.

Despite our management team’s disciplined execution of our business strategy, we are facing a group of dissident investors (collectively, the “Dissident Group”) led by two disgruntled former employees, one of whom is a current director on our Board. They are seeking control of our Board by nominating two additional directors. Their goal is not to drive stockholder value – it’s about personal vendettas and is at the expense of ALL stockholders. One member of the Dissident Group said he would “burn the Company down.” We refuse to let that happen.

We urge you to vote with the Company using the enclosed WHITE universal proxy card. Supporting the Dissident Group by voting with the green universal proxy card poses a fundamental threat to your investment and the future of AEye.

Our Board and management team are the right individuals to drive the business forward. On the contrary, the Dissident Group does not have a plan for the future of AEye and has a track record of corporate mismanagement. They lack the independence and expertise necessary to lead AEye through its next phase of growth. Their significant sales of Company stock and proposals lay bare that their intentions are not aligned with our stockholders or the future of AEye.

AEye and its stockholders deserve stability, continuity, and focus – not disruption and upheaval. In this critical time, the Dissident Group has initiated a costly, self-serving, and harmful proxy contest that threatens the Company’s critical strategic momentum and its stockholders’ interests. The Dissident Group has made false and misleading claims in an attempt to advance their personal agenda. We are here to set the record straight for our stockholders.

We urge you to vote to protect your investment at our Annual Meeting. Do not let the Dissident Group’s self-interested campaign take AEye off course and unwind the significant progress our Board and management has made since 2023.

Key Points to Consider When Voting:

  • We are at a pivotal moment in our growth trajectory as a result of disciplined management execution, beginning with the appointment of CEO Matthew Fisch in 2023.
  • We have positioned ourselves for a promising future with the launch of our Apollo product, and we are capitalizing on our competitive edge to meet the significant opportunities in the lidar market.
  • Our current success is in spite of the Dissident Group’s past mismanagement at AEye, preceding the appointment of our CEO, Mr. Fisch. In just two years since his appointment, our leadership team has righted the ship and addressed underlying business weaknesses inherited from the period of the Dissident Group’s involvement in management. Their continued agitation only threatens to slow our progress against our strategic goals and reintroduces instability.
  • The Dissident Group is nothing more than disgruntled former employees motivated by self-interested vendettas. They do not have any proposal for the long-term growth of the Company, and their interests are not aligned with stockholder interests.
  • Our highly qualified and proven Board nominees are integral to AEye’s success, while the Dissident Group’s candidates lack relevant expertise and perspective.
  • We urge you to vote with the Company – supporting the Dissident Group poses an existential threat to your investment and the future of AEye.

Since 2023, AEye’s Board and management have repositioned AEye to pursue the significant market opportunity in lidar. We remain focused on executing on our strategy and driving sustainable long-term value creation for our stockholders.

The members of the Dissident Group are responsible for many of the current challenges our Board and management are working tirelessly to resolve.

The Dissident Group is led by Mr. Dussan and Mr. Wuller, both of whom are former executives that are no longer with the Company. We believe that many of our Company’s underlying issues were introduced during their respective tenures. For example, during the over 10 years Mr. Dussan served as CEO, then later as CTO, he failed to bring a product to market. Additionally, in 2019, in his capacity as CFO of the then-AEye business (prior to the business combination to become the current public company), Mr. Wuller signed a nearly $20 million office lease agreement with a seven-year term. At the time, the then-AEye business had no line of sight to any revenue, yet Mr. Wuller concluded that entering into such a massive lease commitment was advisable and approved the transaction. In an attempt to fix the misguided decision made by Mr. Wuller, the Company is currently in litigation over the lease at significant expense to the Company.

Our Board and management represent the interests of ALL stockholders and are best-positioned to oversee the success and turnaround of AEye.

Our highly qualified nominees bring critical, business-relevant expertise that is vital to effectively overseeing AEye’s long-term strategy and path to profitability.

The current Board is comprised of proven leaders from industry giants such as Daimler, Apple, TPG, and ADAC Automotive. The Board took decisive action to remove the Company’s prior leadership (including a member of the Dissident Group) and installed seasoned professionals who have made significant strides on the road to boosting stockholder value and addressing underlying business issues created by the Dissident Group. Our current nominees, Mr. Dunn and Ms. Zeifman, have highly relevant skills in the technology space that bolster our current business strategy. They are invaluable assets to AEye at this critical moment. We strongly recommend their re-election for the benefit of the Company and its stockholders.

Timothy Dunn, our Lead Independent Director, has a proven track record of operational excellence from his more than 15 years at TPGas an operating partner focused in the technology space, as well as his roles as CFO of Hotwire and finance and strategic roles at Gap, Inc. and PepsiCo Inc. Mr. Dunn facilitates an open dialogue in our Boardroom, bringing his extensive experience as a public and private company director. If Mr. Dunn were to step down from our Board, AEye would lose a vital independent Board Leader and Audit Committee member and potentially be out of compliance with Nasdaq requirements, a priority for our Board’s commitment to stockholder value. As Chair of the Audit Committee, Mr. Dunn has played a critical role in the Company’s cost reduction efforts.

Sue Zeifman has over 30 years of experience in the marketing and communications industries, including nine years at Apple, Inc. where she was responsible for leading Apple’s global marketing team and marketing strategic direction. She has played a critical role in the marketing and branding of AEye. Ms. Zeifman’s expertise in technology marketing is particularly important as the Company enters a renewed phase of business development with the launch of Apollo. We greatly value her perspectives and relevant experience.

Our Board is committed to continued evaluation and ongoing refreshment to align director expertise with our evolving business.

We regularly evaluate the needs of our Board and are committed to proactively refreshing the Board to align skills and expertise with the evolving needs of our Company. As such, we have appointed half of our current directors since 2022 and continue to evaluate the needs of our Board to continue to deliver value to our stockholders. As part of our thoughtful, continuous Board evaluation and refreshment process, we maintain an active pipeline of director candidates.

We value the perspectives of ALL our stockholders, including the Dissident Group’s views.

It is important to remember that Mr. Dussan is a current Board member and, as such, the Dissident Group has Board representation. In addition to our engagement with the Dissident Group and their representation on the Board, we regularly engage with our stockholders to understand their perspectives and greatly value their input. We have acted, and continue to act, in the best long-term interests of ALL of our stockholders by delivering results and setting the Company on the right path for future growth and success.

The Dissident Group does not intend to drive the success of AEye for ALL stockholders.

They aim to mislead stockholders for revenge and personal gain.

The Dissident Group has sold off a considerable portion of their position in the Company – they do not believe in the future of the Company and they are not aligned with your interests.

Other than Mr. Dussan, a member of the Dissident Group, no current member of our Board or senior management has ever made an open market sale of shares in the Company. However, as previously disclosed, over the past two years, Mr. Dussan has sold over half of his AEye stock, which had the effect of decreasing his position from 9.29% as of March 26, 2024 to only 1.56% as of April 4, 2025. The Dissident Group has demonstrated no belief in the future of the Company.

Our Board and management’s compensation programs and stock ownership reflect a belief in the future of AEye and alignment with our stockholders. While the Dissident Group has significantly divested their stake in the Company, our current management and Board have increased their ownership in AEye.

We tie compensation to value drivers as a core tenet of our compensation philosophy. For 2024, some members of our executive team elected to receive 75% of their short-term incentive compensation in stock rather than cash, to better align their interests with our stockholders. In the same time period as the Dissident Group’s sell-off, despite no long-term incentive equity grants since 2023, the number of shares owned by current CEO Mr. Fisch has increased by almost 700%.

The proposals submitted by the Dissident Group make it clear that their goals are not aligned with the Company’s success, just their own.

The Dissident Group has presented three advisory proposals to our stockholders, two of which involve handcuffing the Board’s ability to make decisions in the best interests of the Company and all stockholders. Although only advisory at this point, if adopted, our Board believes these proposals would have the practical effect of prohibiting the Company from raising further necessary capital to execute on its business plan and bring Apollo to market, ultimately risking bankruptcy and the loss of your investment in its entirety. The Dissident Group either does not care about, or has failed to think about, the broader corporate and stockholder risk of these actions.

The Dissident Group has no plan.

The Dissident Group has had ample opportunity to present a plan for AEye’s future and long-term stockholder value creation, both in their engagement with management and within their proxy filing, but they have presented no plan. The Board and management team have repeatedly given the Dissident Group an audience to discuss strategic suggestions, and the Dissident Group has failed to present any actionable plan each time.

The members of the Dissident Group do not understand our current business and market opportunity – they are blinded by their own personal agenda.

Two members of the Dissident Group are former employees of the Company and, as such, they believe in their own outdated and ill-informed perspectives on AEye rather than the current and meaningfully more qualified view of management and the Board. Mr. Wuller departed nearly five years ago, and Mr. Dussan was involuntarily terminated about 18 months ago. Even over the past 18 months, and certainly over the past five years, the Company and the lidar industry have changed substantially. The circumstances in which members of the Dissident Group left the Company posed significant long-term risk to stockholders and a member of the Dissident Group even touted the desire to make AEye a “meme stock” rather than execute on a stable long-term strategy with sound fundamentals.

The Dissident Group nominees are unqualified to oversee the future of AEye.

In contrast to the Company’s qualified and demonstrated high-value nominees in Mr. Dunn and Ms. Zeifman, the Dissident Group’s nominees do not bring skills, independence, or experience that ensure effective oversight of the future of AEye. Their nominees, Ms. Bauer and Mr. Wuller, are a retired real estate agent and a retired medical malpractice attorney, respectively, with no publicly available evidence of serving on any public company board and minimal knowledge of the industry in which the Company operates. They are also likely close friends as they list their respective addresses in the same small town in Illinois. Neither dissident nominee has nor claims any experience in developing, marketing, or selling a high-tech product.

The Dissident Group has completely failed to demonstrate how stockholders will benefit by depriving the Board of its highly qualified members with deep technology experience, and replacing each of them with individuals lacking technology expertise, public company board experience, or integrity. In fact, we learned that Ms. Bauer was a named defendant in a civil federal lawsuit filed in 2007 by the U.S. Department of Justice alleging discriminatory conduct and violations of the Fair Housing Act. The court found in favor of the government and thereafter the matter appears to have been resolved.

Our highly experienced management team is best positioned to execute and deliver value for our stockholders.

We have assembled a best-in-class management team and Board focused on delivering long-term value for our stockholders and executing on a clear plan and vision for AEye. Our CEO and Chairman, Mr. Fisch, whose deep technical and commercial experience sets him apart in the market, is the right leader to drive our strategy and business forward. As Mr. Dussan said himself when Mr. Fisch joined the Company and before Mr. Dussan was terminated, “the productization experience [Mr. Fisch] brings to AEye will be key in taking the Company to the next level.”

Based on his deep technical and product experience, Mr. Fisch is uniquely qualified to right the ship, continue to execute on our strategy, and deliver results. In addition to successfully bringing dozens of category-defining products to market in the semiconductor space during his time at Intel, Mr. Fisch’s diversified experience at HARMAN, Gentherm, Verifone, and North American Bankcard position him to guide AEye through this critical execution phase. Mr. Fisch’s technical and product perspective at Verifone ultimately proved critical to Verifone’s strategic sale for $4 billion, and in that role, Mr. Fisch was chosen to stay on to see through the transition and continue his focus on product excellence.

The Company remains committed to transparency; the Dissident Group has no desire to constructively engage with our Board and management.

Our Company’s CEO, Mr. Fisch, and General Counsel, Mr. Hughes, have taken time away from their significant responsibilities to the Company to meet with Mr. Wuller on multiple occasions and respond to his unprofessional and unproductive messages. Our Board and management have not ignored the Dissident Group or any other stockholder. Rather, we listened to what they had to say and sought opportunities to work constructively and transparently with individuals interested in the success of AEye. Mr. Wuller has shown a refusal to accept the Board’s informed and deliberated decision-making as such decision-making was not aligned with his outdated and ill-informed perspectives. The Board did not find his repeated efforts to message the Company to be substantive and such actions only resulted in distractions to our management and Board from critical business matters. Notwithstanding, we remain committed to welcoming feedback from all of our stockholders and believe that it is in our stockholders’ best interest to engage in productive conversations about the success of the Company.

The Board and management team are more optimistic than ever about the Company’s long-term outlook and strategic direction. Our customer funnel is stronger than ever, and we believe we now have the liquidity in place to bring our recently developed world-class product, Apollo, to high-volume production and take advantage of the emerging automotive and non-automotive opportunities. Now is not the time to derail our strategy and momentum.Do not let the Dissident Group take us off course and undo the progress at this critical time in our Company’s strategic direction. We must stay the course and re-elect the Company’s highly qualified nominees, Timothy Dunn and Sue Zeifman. To ensure AEye stays on the right path and continues to deliver on our goals, we urge you to vote the Company’s WHITE universal proxy card enclosed “FOR” both of AEye’s director nominees, Timothy J. Dunn and Sue E. Zeifman, and “AGAINST” all the stockholder proposals submitted by the Dissident Group.

As always, the Board and executive team remain committed to listening to stockholders’ perspectives, maximizing value for all stockholders, and serving AEye’s customers and partners.

Thank you for your continued investment and support.

Sincerely,

Matthew Fisch (CEO and Chair)

Timothy Dunn (Lead Independent Director)

Prof. Dr. Bernd Gottschalk (Independent Director)

Jonathon Husby (Independent Director)

Sue Zeifman (Independent Director)

YOUR VOTE IS IMPORTANT!

 

Your vote is important, and we ask that you please vote “FOR” the election of our two Board nominees, Timothy J. Dunn and Sue E. Zeifman, “FOR” Proposals 2 and 3, and “AGAINST” all the stockholder proposals submitted by the Dissident Group using the WHITE universal proxy card.

 

You can vote your shares electronically via the Internet, by telephone, or by completing and returning the WHITE universal proxy card or voting instruction card if you requested paper proxy materials. Voting instructions are printed on your WHITE universal proxy card and included in the accompanying proxy statement. You can revoke a proxy at any time prior to its exercise at the Annual Meeting by following the instructions in the proxy statement.

 

If you have any questions about how to vote your shares, please call the firm assisting us with the solicitation of proxies:

 

Sodali & Co

430 Park Avenue, 14th Floor,

New York, NY 10022

Stockholders Call Toll Free: (800) 662-5200

E-mail: [email protected]

 

Please do not use any green universal proxy cards from the Dissident Group. If you have already voted using the green universal proxy card, you have every right to change your vote by using the WHITE universal proxy card. Only the latest proxy you submit will be counted.

Participants

AEye, its directors, and executive officers and other members of management and employees will be participants in the solicitation of proxies with respect to a solicitation by AEye. Information about AEye’s executive officers and directors is available in AEye’s definitive proxy statement for its 2025 Annual Meeting, which was filed with the U.S. Securities and Exchange Commission (“SEC”) on April 7, 2025. To the extent holdings by our directors and executive officers of AEye securities reported in the proxy statement for the 2025 Annual Meeting have changed, such changes have been or will be reflected on Statements of Change in Ownership on Forms 3, 4, or 5 filed with the SEC. These documents are or will be available free of charge at the SEC’s website at www.sec.gov.

Certain Additional Information

Under the new rules adopted by the SEC, the WHITE universal proxy card also includes the names of the Dissident Group’s nominees. The Board does NOT endorse any of the nominees from the Dissident Group, and the presence of the Dissident Group’s nominees on the enclosed WHITEuniversal proxy card is NOT an approval of or comment on the fitness, character, suitability, or other qualifications of the Dissident Group’s nominees. The Board strongly urges you to NOT sign or return any NON-WHITE proxy card sent to you by, or on behalf of, the Dissident Group. If you have previously submitted a NON-WHITE proxy card sent to you by, or on behalf of, the Dissident Group, you can revoke that proxy and vote for your Board’s candidates and on the other matters to be voted on at the Annual Meeting by using the enclosed WHITEuniversal proxy card or voting by Internet by following the instructions specified on the WHITE universal proxy card. Only your latest dated proxy will count. OUR BOARD URGES YOU TO VOTE ONLY ON THE WHITE UNIVERSAL PROXY CARD FOR OUR BOARD’S PROPOSED CANDIDATES (TIMOTHY J. DUNN AND SUE E. ZEIFMAN) AND AGAINST BOTH STOCKHOLDER ADVISORY PROPOSALS, TO DISREGARD ANY MATERIALS SENT TO YOU BY, OR ON BEHALF OF, THE DISSIDENT GROUP, AND NOT TO SIGN, RETURN, OR VOTE ANY NON-WHITE PROXY CARD SENT TO YOU BY, OR ON BEHALF OF, THE DISSIDENT GROUP. Although we are required to include all nominees for election on our universal proxy card, for additional information regarding the Dissident Group’s nominees and any other related information, please refer to the Dissident Group’s proxy statement, which is accessible without cost at www.sec.gov. We are not responsible for the accuracy of any information provided by, or relating to, the Dissident Group or the nominees contained in any proxy solicitation materials filed or disseminated by, or on behalf of, the Dissident Group or any other statements that the Dissident Group or its representatives have made or may otherwise make, including with respect to the advisory stockholder proposals submitted by the Dissident Group.

Additionally, the Dissident Group has stated that they intend to present an additional proposal, Proposal 6, at the Annual Meeting as a floor proposal. Proposal 6 was not properly or timely submitted under Rule 14a-8 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). It will be the Dissident Group’s responsibility to properly present Proposal 6 at the Annual Meeting and solicit votes. Since Proposal 6 was not submitted under Rule 14a-8 under the Exchange Act, it was not included nor described in the Company’s proxy statement or on WHITE universal proxy card. If Proposal 6 is presented at the Annual Meeting as a floor proposal, the proxy holders will have discretionary voting authority under Rule 14a-4(c) under the Exchange Act with respect to Proposal 6 and intend to exercise such discretion to vote “AGAINST” Proposal 6. If you wish to cast a vote “FOR” Proposal 6, you must use the green universal proxy card and follow the instructions provided therein.

About AEye, Inc.

AEye’s unique software-defined lidar solution enables advanced driver-assistance, vehicle autonomy, smart infrastructure, and logistics applications that save lives and propel the future of transportation and mobility. AEye’s 4Sight™ Intelligent Sensing Platform, with its adaptive sensor-based operating system, focuses on what matters most: delivering faster, more accurate, and reliable information. AEye’s 4Sight™ products, built on this platform, are ideal for dynamic applications which require precise measurement imaging to ensure safety and performance.

Additional Information

AEye has filed with the SEC a definitive proxy statement on Schedule 14A, containing a form of WHITE universal proxy card, with respect to its solicitation of proxies for the Annual Meeting. This communication is not a substitute for any proxy statement or other document that AEye may file with the SEC in connection with any solicitation by AEye.

INVESTORS AND SECURITY HOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) FILED BY AEYE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ANY SOLICITATION.

Investors and security holders may obtain copies of these documents and other documents filed with the SEC by AEye free of charge through the website maintained by the SEC at www.sec.gov. Copies of the documents filed by AEye are also available free of charge by accessing AEye’s website at www.aeye.ai.

Forward-Looking Statements

Certain statements in this communication may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s expectations; beliefs; plans; strategies; business or financial prospects or outlook; future shareholder value; expected growth and value creation; profitability; investments; cost reductions and efficiencies; content offerings; priorities or performance; and other statements that are not historical in nature. These statements involve risks, uncertainties, and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors are described under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC and our other filings with the SEC from time to time. Any forward-looking statements speak only as of the date of this communication and are based on information available to the Company as of the date of this communication, and the Company does not assume any obligation to, and does not intend to, publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.

If you have questions or need help voting your shares, please call our proxy solicitation firm,

Sodali & Co

430 Park Avenue, 14th Floor

New York, NY 10022

Stockholders Call Toll Free: (800) 662-5200

E-mail: [email protected]

Investor Relations Contacts

Agency Contact

Financial Profiles, Inc.

Evan Niu, CFA

[email protected]

310-622-8243

Company Contact

AEye, Inc. Investor Relations

[email protected]

925-400-4366

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