Market Newsdesk

Presentation and Q&A session scheduled for post-market on Tuesday, February 25, 2025

BOSTON
, Feb. 18, 2025 /PRNewswire/ — Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) (“Ginkgo”), which is building the leading platform for cell programming and biosecurity, today announced that it plans to host a presentation and Q&A session reviewing business performance for the fourth quarter and full year ended December 31, 2024, on Tuesday, February 25, 2025, beginning at 5:30 p.m. ET.

The presentation details and webcast link will be available on Ginkgo’s investor relations website at https://investors.ginkgobioworks.com, and a replay will be made available.

To ask a question ahead of the presentation, please submit them to @Ginkgo on X (hashtag #GinkgoResults) or by sending an e-mail to [email protected].

About Ginkgo Bioworks

Ginkgo Bioworks is the leading horizontal platform for cell programming, providing flexible, end-to-end services that solve challenges for organizations across diverse markets, from food and agriculture to pharmaceuticals to industrial and specialty chemicals. Ginkgo Biosecurity is building and deploying the next-generation infrastructure and technologies that global leaders need to predict, detect, and respond to a wide variety of biological threats.  For more information, visit ginkgobioworks.com and ginkgobiosecurity.com, read our blog, or follow us on social media channels such as X (@Ginkgo and @Ginkgo_Biosec), Instagram (@GinkgoBioworks), Threads (@GinkgoBioworks) or LinkedIn.

Ginkgo Bioworks Contacts:

INVESTOR CONTACT:

[email protected] 

MEDIA CONTACT:

[email protected]

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SOURCE Ginkgo Bioworks

SHENZHEN, China
, Feb. 18, 2025 /PRNewswire/ — MicroCloud Hologram Inc. (NASDAQ: HOLO), (“HOLO” or the “Company”), a technology service provider, announced that they invested to develop a  quantum blockchain technology. The key lies in the quantum asymmetric consensus chain algorithm based on the Bitcoin blockchain. This algorithm is dedicated to introducing quantum security into the blockchain ecosystem to ensure the security and reliability of digital transactions. The company plans to allocate no more than $200 million for investment in derivatives and technology development in cutting – edge technology fields related to Bitcoin, such as blockchain, quantum computing, and artificial intelligence. It will also incorporate the technologies resulting from the $200 – million investment into its fund – usage strategy.

They have developed a quantum blockchain technology, with the key being the quantum asymmetric consensus chain algorithm based on the Bitcoin blockchain. This algorithm aims to introduce quantum security into the blockchain ecosystem to ensure the safety and reliability of digital transactions.

Firstly, the quantum asymmetric consensus chain algorithm in this technology achieves an organic integration of quantum technology and blockchain. By utilizing quantum signature technology, it enhances the security of traditional encryption algorithms, effectively defending against the potential threats that quantum computing poses to traditional blockchain technologies, thus building a security defense for users’ digital assets. This integration improves the security and decentralized nature of the system.

Secondly, in the area of stake consensus, HOLO’s technology differs from traditional stake consensus. In this system, stake consensus does not require nodes to perform mining operations, eliminating the competition for computing power. This characteristic increases the system’s decentralization, allowing every participant holding stakes to engage in the consensus process.

Specifically, in the proof-of-stake mechanism, mining is no longer a necessary condition. Users who hold stakes participate in the consensus process and generate new blocks through proof of stake. This mechanism ensures fairness within the system, providing all participants with an opportunity to generate new blocks.

At the same time, the system adopts a fair voting mechanism. Based on a delegated proof-of-stake consensus algorithm, users generate blocks through delegated stakes, eliminating the need to compete for mining rights. Instead, they participate in voting based on the stakes they hold, making the entire consensus process more equitable.

From the perspective of the overall blockchain network architecture, the system’s decentralization features are highly evident. It employs a distributed ledger and peer-to-peer network, allowing each node to independently verify and store transaction information without relying on centralized servers, aiming to ensure the system’s security and reliability. Furthermore, since there is no mining process, the reward mechanism is fairer, with users earning the right to generate new blocks based on the stakes they hold, thereby receiving corresponding rewards.

HOLO’s quantum blockchain technology holds profound significance in today’s rapidly advancing digital era. It integrates the structure of the Bitcoin blockchain with the security of quantum technology, creating a stable digital transaction platform for the quantum computing age. This technology fills the gaps in traditional blockchain systems under the threat of quantum computing, providing a more efficient infrastructure for the digital society.

The development of this technology addresses current security issues in the digital economy while focusing on future growth. HOLO will continue to optimize its ecosystem, expand application scenarios, and create a secure, transparent, and decentralized digital transaction environment for users, businesses, and society, driving the sustainable development of the digital society.

The company is investing to develop a quantum blockchain technology. The core technology is the quantum asymmetric consensus chain algorithm constructed on the Bitcoin blockchain. This algorithm aims to integrate quantum – level security into the blockchain ecosystem, ensuring the stability and reliability of digital transactions. To this end, the company intends to allocate no more than $200 million specifically for derivative products and technological innovation in cutting – edge technology fields such as Bitcoin blockchain, quantum computing, and artificial intelligence. Moreover, the technological achievements generated from this $200 million investment will be integrated into the company’s capital operation strategy.

In the future, HOLO will continue to absorb new quantum technological advancements, continuously improving the quantum asymmetric consensus chain algorithm to enhance the system’s performance and security, adapting to the quantum computing environment and defending against potential risks. Moreover, quantum blockchain technology is expected to transcend the digital currency sector and deeply integrate with practical industries such as finance, supply chain, and healthcare. By leveraging the quantum security features, it will provide a solid infrastructure for the digital transformation of these industries, thus opening a new era of the digital economy and creating a safer, more innovative development outlook.

About MicroCloud Hologram Inc.

MicroCloud is committed to providing leading holographic technology services to its customers worldwide. MicroCloud’s holographic technology services include high-precision holographic light detection and ranging (“LiDAR”) solutions, based on holographic technology, exclusive holographic LiDAR point cloud algorithms architecture design, breakthrough technical holographic imaging solutions, holographic LiDAR sensor chip design and holographic vehicle intelligent vision technology to service customers that provide reliable holographic advanced driver assistance systems (“ADAS”). MicroCloud also provides holographic digital twin technology services for customers and has built a proprietary holographic digital twin technology resource library. MicroCloud’s holographic digital twin technology resource library captures shapes and objects in 3D holographic form by utilizing a combination of MicroCloud’s holographic digital twin software, digital content, spatial data-driven data science, holographic digital cloud algorithm, and holographic 3D capture technology. For more information, please visit http://ir.mcholo.com/

Safe Harbor Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate,” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic; financial condition and results of operations; the expected growth of the holographic industry and business conditions in China and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission (“SEC”), including the Company’s most recently filed Annual Report on Form 10-K and current report on Form 6-K and its subsequent filings. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

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SOURCE MicroCloud Hologram Inc.

Pro loyalty members now earn the same points toward MyLowe’s Money and get access to
Member Only Deals as Homeowner loyalty members PLUS added perks

MOORESVILLE, N.C.
, Feb. 18, 2025 /PRNewswire/ — One year after launching the MyLowe’s Rewards program for homeowners, Lowe’s has updated its existing MVPs Pro Rewards & Partnership Program to become MyLowe’s Pro Rewards™*. The free program saves Lowe’s Pros valuable time and money, with earned points that can be redeemed for MyLowe’s Money^{^**,} member deals and more.

Redesigned specifically for the small-to-mid-sized Pro, the program is easier than ever to use, with Pros starting to earn points from the first dollar spent at sign-up. Offering an intuitive customer experience that mimics Lowe’s successful homeowner loyalty program, MyLowe’s Rewards, MyLowe’s Pro Rewards “builds” on these benefits with added features and functions Pros use most like access to merchandise, sports memorabilia, gift cards to support their business, volume discounts, business tools and more. Plus, customers who shop with their MyLowe’s Pro Rewards Credit Card will save 5%^Δ every day on eligible purchases and get a free upgrade to Platinum Pro status^∞, receiving the most value and rewards compared to any other payment type.

“If you’re a Pro, we want you enrolled in MyLowe’s Pro Rewards program because we’re focused on saving Pros more when they choose Lowe’s first. This is one of the few rewards programs in the industry designed to reward Pros from their first dollar spent – no special volume thresholds to earn and save at Lowe’s,” said Quonta Vance, Lowe’s executive vice president of Pro and Home Services. “We talk about saving our Pros time and money in all that we do and this program is the perfect example of our commitment to do just that.”  

The new MyLowe’s Pro Rewards benefits include:

• Earn points on eligible purchases per $1 spent, easily redeemed for MyLowe’s Money or for Exclusive Rewards like gift cards, experiences, products and more^±
• Access to Member-only deals
• Free standard shipping (not available in AL & HI)≠
• Access to a Member Volume Discount on eligible quotes $1,500 or more^◊
• Instant 20% member paint discount after paint annual qualifying spend reaches $3,000^º
• Pro Business Solutions like Purchase Authorization and Online Order Quoting
• Plus, a customized in-app experience that allows members to track their points progress, easily re-order from previous purchases and receive personalized recommendations

MyLowe’s Pro Rewards is a three-tiered program (Gold Pro, Platinum Pro, Titanium Pro) with new benefits unlocked at each status level. New members start at Gold Pro status and increase in status as they shop.

“We’re building a loyalty ecosystem that’s designed with our customers at the center – we want ALL of our members, no matter DIY or Pro, to know that when they choose Lowe’s first, they get more,” said Jen Wilson, Lowe’s senior vice president, chief marketing officer. “The value we’re offering customers is exciting and we want to build off this core value proposition with even more personalized offers and programming to show just how special our members are to us.”

For more information, please visit MyLowe’s Pro Rewards Program.

*Loyalty Programs subject to Terms & Conditions. See Lowes.com/Terms for full program details. Subject to change. 

^Points are awarded on Qualifying Purchases for orders that have been settled and fulfilled.  Exclusions, restrictions, and more terms apply. Subject to change. 

**MyLowe’s Money: NO CASH BACK. Nontransferable. MyLowe’s Money is not a credit, debit or gift card; it has no implied warranties. MyLowe’s Money can be redeemed towards purchases of eligible products in eligible sales channels in the U.S. only during the stated redemption window. Limit of 5 per transaction. MyLowe’s Money will be applied after all other applicable discounts, coupons, taxes and fees have been applied. Additional terms, conditions & restrictions apply and are subject to change.

^Δ
 Subject to credit approval. 5% offer applies to eligible US Lowe’s store and Lowes.com purchase or order after all other applicable discounts charged to your MyLowe’s Pro Rewards or Lowe’s Commercial Account. Customer must pay applicable sales tax. Offer can’t be used in conjunction with or on: (i) other credit-related promotional offers (except 0% Interest for 60 Days or Extended Terms); (ii) any other promotion, discount, markdown, coupon/barcode, rebate or offer, including any Lowe’s volume or special discount programs (such as but not limited to, Contractor Pack, Buy in Bulk, Member Volume Discount (“MVD”), Special Value, New Lower Price, Was: Now, Military Discount, Employee Discount, and Lowest Price Guarantee);  (iii) associate discretion price adjustments; (iv) any services (such as but not limited to, rentals; extended protection/replacement plans; shipping, delivery, assembly or installation fees); (v) fees or taxes; (vi) previous sales; (vii) gift cards; or (viii) Weber,  Kichler, or Miele products. Excludes MyLowe’s Rewards Credit Card Accounts, Lowe’s Visa® Accounts and all Lowe’s Canada Credit products. We reserve the right to discontinue or alter the terms of this offer at any time.

^∞

Platinum Pro Status upgrade may require saving card to Lowe’s digital wallet. More terms & restrictions apply. Visit Lowes.com/Terms for details. Subject to change.

^±
Exclusive Reward items are subject to availability while supplies last. See Lowes.com/L/ProLoyaltyTerms for full details.

≠Exclusions and more terms apply. 
 Visit Lowes.com/ShippingTerms for details.

◊Exclusions, more terms & restrictions apply. Details at Lowes.com/Terms. Subject to Change.

ºExcludes spray paint and mistints. Discount applies to future Paint Qualifying Purchases after paint annual qualifying spend reaches $3,000. Paint annual qualifying spend resets first day of calendar year. More Terms & conditions apply. Visit Lowes.com/Terms for details. Subject to change.

About Lowe’s

Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 16 million customer transactions a week in the United States. With total fiscal year 2023 sales of more than $86 billion, Lowe’s operates over 1,700 home improvement stores and employs approximately 300,000 associates. Based in Mooresville, N.C., Lowe’s supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts. For more information, visit Lowes.com.

Media Contacts

Amanda Caskey

[email protected]

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SOURCE Lowe’s Companies, Inc.

FAIRBANKS, Ark., Feb. 18, 2025 /PRNewswire/ – Contango ORE, Inc. (“Contango” or the “Company”) (NYSE American: CTGO) is pleased to announce that it has amended its credit facility (the “Facility”) to defer $10.6 million (“M”) of principal repayments and delivery of 15,000 hedged gold ounces into the first half of 2027 (the “New Repayment Schedule”) and extend the maturity date of the Facility from December 31, 2026 to June 30, 2027. All other key terms of the Facility, including the interest rate, remain the same.

The Company anticipates that the revised delivery schedule for the gold hedge contracts will result in the Company having exposure to spot gold prices on approximately 30% of net production volumes for both 2025 and 2026, 80% of net production volumes for 2027 and 100% thereafter. Based on the current Life-of-Mine (“LOM”) plan provided by the Peak Gold JV (the “PGJV”) and using a $2,500 spot gold price, the Company anticipates that its 30% share of projected PGJV cash flows following the repayment of all debt and hedge deliveries will be approximately $80M in 2027 (inclusive of 15,000 ounces of gold hedges to be delivered into in the first half of 2027) and $70M in 2028.

In addition, the Company is pleased to announce that the PGJV commenced its first gold production campaign of the year on February 7, 2025. Contango estimates that its share of gold production from this campaign will be between 15,000 and 18,000 ounces of gold. The PGJV continues to truck ore from the Manh Choh mine site to the Fort Knox processing facility on schedule.

Rick Van Nieuwenhuyse, the Company’s President and CEO said, “We are very pleased with the extension of the maturity date for the Facility to mid-2027 to better align the New Repayment Schedule with the extended ore haul plan into 2029. The New Repayment Schedule will provide us with sufficient flexibility to continue to repay our debt and deliver into our hedge contracts while still leaving significant exposure to increased gold prices. This will allow the Company to realize strong cash flows from the remaining mine life for Manh Choh as well as continue critical permitting at the Johnson Tract project and advancing discussions to identify appropriate milling facilities for processing Johnson Tract and Lucky Shot ores. At current gold prices near $2,900 per ounce, Contango expects to generate significantly better free cash flows than the anticipated $70M for 2027 and $80M 2028 discussed above, which were based on a $2,500 gold price. The PGJV, operated by KG Mining Alaska, Inc. (“Kinross”), continues to pursue a number of initiatives to reduce costs and improve overall performance of operations, including ways to reduce moisture content in the ore and reduce ice, snow and mud build-up accumulated during the ore haul, which we expect to positively impact profitability moving forward. With the first campaign of 2025 having started and gold prices achieving new highs, we are confident that the Company remains on solid footing.”

Mr. Van Nieuwenhuyse continued, “We are also pleased with the progress made to date on the previously announced preliminary economic assessment (the “PEA”) on the Johnson Tract project. We expect the PEA to be completed and released in March 2025.”

WEBINAR

A live interview to discuss this update will be held on Tuesday, February 18, 2025 at 1:00 pm EST. Participants may join the webcast using the following link:  https://6ix.com/event/contango-ore-corporate-update-2. A replay will be sent out and also available on our media page at www.contangoore.com/our-media/interviews.

ABOUT CONTANGO

Contango is a NYSE American listed company that engages in exploration for gold and associated minerals in Alaska. Contango holds a 30% interest in the Peak Gold JV, which leases approximately 675,000 acres of land for exploration and development on the Manh Choh project, with the remaining 70% owned by KG Mining (Alaska), Inc., an indirect subsidiary of Kinross Gold Corporation, operator of the Peak Gold JV. The Company and its subsidiaries also have (i) a lease on the Johnson Tract project from the underlying owner, CIRI Native Corporation, (ii) a lease on the Lucky Shot project from the underlying owner, Alaska Hardrock Inc., (iii) 100% ownership of approximately 8,600 acres of peripheral State of Alaska mining claims and (iv) a 100% interest in approximately 145,000 acres of State of Alaska mining claims that give Contango the exclusive right to explore and develop minerals on these lands. Additional information can be found on our web page at www.contangoore.com.  

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements regarding Contango that are intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995, based on Contango’s current expectations and includes statements regarding future results of operations, quality and nature of the asset base, the assumptions upon which estimates are based and other expectations, beliefs, plans, objectives, assumptions, strategies or statements about future events or performance (often, but not always, using words such as “expects”, “projects”, “anticipates”, “plans”, “estimates”, “potential”, “possible”, “probable”, or “intends”, or stating that certain actions, events or results “may”, “will”, “should”, or “could” be taken, occur or be achieved). Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties, which could cause actual results to differ materially from those reflected in the statements. These risks include, but are not limited to: the risks of the exploration and the mining industry (for example, operational risks in exploring for and developing mineral reserves; risks and uncertainties involving geology; the speculative nature of the mining industry; the uncertainty of estimates and projections relating to future production, costs and expenses; the volatility of natural resources prices, including prices of gold and associated minerals; the existence and extent of commercially exploitable minerals in properties acquired by Contango or the Peak Gold JV; ability to realize the anticipated benefits of the Peak Gold JV; potential delays or changes in plans with respect to exploration or development projects or capital expenditures; the interpretation of exploration results and the estimation of mineral resources; the loss of key employees or consultants; health, safety and environmental risks and risks related to weather and other natural disasters); uncertainties as to the availability and cost of financing; Contango’s inability to retain or maintain its relative ownership interest in the Peak Gold JV; inability to realize expected value from acquisitions; inability of our management team to execute its plans to meet its goals; the extent of disruptions caused by an outbreak of disease, such as the COVID-19 pandemic; and the possibility that government policies may change, political developments may occur or governmental approvals may be delayed or withheld, including as a result of presidential and congressional elections in the U.S. or the inability to obtain mining permits. Additional information on these and other factors which could affect Contango’s exploration program or financial results are included in Contango’s other reports on file with the U.S. Securities and Exchange Commission. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Contango does not assume any obligation to update forward-looking statements should circumstances or management’s estimates or opinions change.

www.contangoore.com

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SOURCE Contango Ore

DALLAS
, Feb. 18, 2025 /PRNewswire/ — Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust (the “Trust”) (NYSE: CRT), today declared a cash distribution to the holders of its units of beneficial interest of $0.045553 per unit, payable on March 14, 2025, to unitholders of record on February 28, 2025. The following table shows underlying oil and gas sales and average prices attributable to the current month and prior month distributions.

Excess Costs
             XTO Energy has advised the Trustee that excess costs increased by $9,000 on properties underlying the Texas Working Interest net profits interests. However, these excess costs did not reduce net proceeds from the remaining conveyances. Underlying cumulative excess costs remaining on the Texas Working Interest net profits interests total $4,296,000, including accrued interest of $1,171,000.

             For more information on the Trust, including the annual tax information, distribution amounts, and historical press releases, please visit our website at www.crt-crosstimbers.com.

View original content:https://www.prnewswire.com/news-releases/cross-timbers-royalty-trust-declares-february-cash-distribution-302378442.html

SOURCE Cross Timbers Royalty Trust

Seasoned Oncology Leader Brings Extensive ADC Expertise to Support Company’s New Pipeline

MORRISTOWN, N.J.
, Feb. 18, 2025 /PRNewswire/ — Aadi Bioscience, Inc. (NASDAQ: AADI) today announced the appointment of David Dornan, PhD as the Company’s Chief Scientific Officer (CSO). Dr. Dornan contributes more than two decades of experience in oncology drug discovery and development, with deep expertise in antibody-drug conjugates (ADCs) and other targeted cancer therapies.

“David’s extensive experience in ADC development and track record of translating novel oncology discoveries into clinical programs make him an ideal leader as we seek to rapidly advance our newly in-licensed ADC portfolio,” said David Lennon, PhD, President and CEO of Aadi Bioscience. “We are thrilled to welcome David to our growing ADC-experienced team, which also boasts board members from leading ADC companies, Behzad Aghazedeh, former CEO and Executive Chair of Immunomedics, and recently appointed Baiteng Zhao, PhD, co-founder and former Chairman and CEO of ProfoundBio.”

Dr. Dornan joins Aadi at a pivotal time as the company implements a new strategic plan, which was first announced in December 2024, including three proposed transactions: the sale of FYARRO^® and its associated infrastructure to Kaken Pharmaceuticals for $100 million in cash; the in-licensing of a thoughtfully selected, promising portfolio of ADCs from WuXi Biologics; and a $100 million private placement financing to help facilitate the development of these ADC assets. Aadi filed its definitive proxy statement on January 31, 2025, in connection with the Company’s upcoming Special Meeting of Stockholders which is scheduled to be held on February 28, 2025. The proxy statement includes proposals on the sale of FYARRO and the financing.

“The field of ADCs is undergoing a transformation and we believe that Aadi is well-positioned to contribute with a creative tumor-targeting strategy that utilizes a next-generation linker-payload platform,” said David Dornan, PhD, CSO of Aadi Bioscience. “What drew me to Aadi wasn’t just its cutting-edge science—it’s the unwavering commitment to translating innovation into real impact for patients. With a pipeline targeting PTK7, MUC16 and SEZ6, we have an opportunity to redefine what is possible in cancer treatment. I’m eager to collaborate with this outstanding team to accelerate the development of therapies that can truly make a difference in patients’ lives.”

Dr. Dornan has a successful track record of shepherding drugs from discovery stage through the clinic for advanced modalities, including ADCs, encompassing numerous Initial New Drug (IND), New Drug Application and Biologic License Application filings. Most recently, he served as CSO at Elevation Oncology where he spearheaded the company’s strategic pivot toward a portfolio of ADCs, including the in-licensing and nomination of differentiated ADC assets. As the CSO of Bolt Biotherapeutics he led the cutting-edge research and development of novel immune-stimulating ADCs and immune agonist antibodies that led to multiple INDs and clinical trials. Previously, he was the Director and Head of Oncology Research at Gilead Sciences where he oversaw the identification, validation and translation of oncogenic targets into biologic and small molecule therapeutics. Dr. Dornan began his industry career at Genentech where he spent a decade in roles of increasing responsibility focused on target discovery and validation efforts for numerous tumor antigen targets and ADCs, including POLIVY^® (polatuzumab vedotin-piiq), an ADC approved by the US Food and Drug Administration for the treatment of diffuse large B-cell lymphoma. 

About Aadi Bioscience

Aadi is a precision oncology company with a vision to make bold choices in applying technology to efficiently deliver improved precision oncology therapies for people living with difficult-to-treat cancers. More information on the Company is available on the Aadi website at www.aadibio.com and connect with us on LinkedIn.

Forward-Looking Statements

This press release contains certain forward-looking statements regarding the business of Aadi Bioscience that are not a description of historical facts within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on the Company’s current beliefs and expectations and may include, but are not limited to, statements relating to: the timing and completion of the proposed sale of FYARRO to Kaken Pharmaceuticals and the anticipated timing of the closing of the transaction; expectations regarding the timing, closing and completion of the PIPE financing; Aadi’s expected cash position at the closing and cash runway of the company following the sale of FYARRO and PIPE financing; the future operations of Aadi; the development and potential benefits of any of Aadi’s product candidates, including the preclinical ADC assets proposed to be licensed from WuXi; anticipated preclinical and clinical development activities and related timelines, including the expected timing for announcement of data and other preclinical and clinical results and potential submission of IND filings for one or more product candidates; and other statements that are not historical fact. Actual results could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks associated with (i) the risk that the conditions to the closing of the proposed sale of FYARRO or the PIPE financing are not satisfied, including the failure to timely obtain stockholder approval for the transactions, if at all; (ii) uncertainties as to the timing of the consummation of the proposed transactions and the ability of each of Kaken and Aadi to consummate the proposed sale of FYARRO; (iii) risks related to Aadi’s ability to manage its operating expenses and its expenses associated with the proposed transactions pending the closing; (iv) risks related to the failure or delay in obtaining required approvals from any governmental or quasi-governmental entity necessary to consummate the proposed transactions; (v)  unexpected costs, charges or expenses resulting from the transactions; (vi) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed sale of FYARRO or the proposed PIPE financing; (vii) the uncertainties associated with Aadi’s product candidates, as well as risks associated with the preclinical and clinical development and regulatory approval of product candidates, including potential delays in the completion of preclinical studies and clinical trials; (viii) risks related to the inability of Aadi to obtain sufficient additional capital to continue to advance these product candidates; (ix) uncertainties in obtaining successful preclinical and clinical results for product candidates and unexpected costs that may result therefrom; (x) risks related to the failure to realize any value from product candidates being developed and anticipated to be developed in light of inherent risks and difficulties involved in successfully bringing product candidates to market; and (xi) risks associated with the possible failure to realize certain anticipated benefits of the proposed sale of FYARRO or the proposed PIPE financing, including with respect to future financial and operating results.

Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, including under the caption “Item 1A. Risk Factors,” and in Aadi’s subsequent Quarterly Reports on Form 10-Q, and elsewhere in Aadi’s reports and other documents that Aadi has filed, or will file, with the SEC from time to time and available at www.sec.gov.

All forward-looking statements in this press release are current only as of the date hereof and, except as required by applicable law, Aadi undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements are qualified in their entirety by this cautionary statement. This cautionary statement is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Additional Information and Where to Find It

This communication relates to the proposed sale of FYARRO and the proposed financing and may be deemed to be solicitation material in respect of such transactions. In connection with these proposed transactions, Aadi has filed a proxy statement with the SEC (the “Proxy Statement”) which has been mailed to stockholders. This communication is not a substitute for the Proxy Statement or any other documents that Aadi has filed or may file with the SEC or send to Aadi stockholders in connection with the proposed transactions. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITYHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND ALL OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTIONS AS THEY BECOME AVAILABLE CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTIONS AND RELATED MATTERS.

Stockholders may obtain a copy of the Proxy Statement and other documents the Company files with the SEC (when they are available) through the website maintained by the SEC at www.sec.gov, as well as on the Investor and News section of Aadi’s website at www.aadibio.com.

Certain stockholders of Aadi, including members of its board of directors and related entities, have entered into voting and support agreements in favor of Kaken Pharmaceuticals and Aadi, pursuant to which such stockholders have agreed to vote in favor of the stock purchase transaction with Kaken Pharmaceuticals.

Participants in the Solicitation

This communication does not constitute a solicitation of proxy, an offer to purchase or a solicitation of an offer to sell any securities. Aadi and its respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Aadi in connection with the proposed transactions. Information about Aadi’s directors and executive officers, as well as other persons who may be deemed participants in the proposed transactions, is set forth in the Proxy Statement and is supplemented by other relevant materials filed or to be filed with the SEC. To the extent the holdings of Aadi securities by Aadi’s directors and executive officers have changed since the amounts set forth in the Proxy Statement, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC.  You may obtain free copies of these documents as described in the preceding paragraph.

No Offer or Solicitation

This communication shall not constitute an offer to sell or a solicitation of an offer to buy these securities nor a solicitation of any vote or approval with respect to the proposed transactions or otherwise, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

The offer and sale of securities of Aadi described above are being made in a transaction not involving a public offering and the securities have not been registered under the Securities Act of 1933, as amended, and may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements. Concurrently with the closing of the subscription agreement for the financing, the Company and the investors will enter into a registration rights agreement pursuant to which the Company will file, following the closing of the financing, a registration statement with the SEC registering the resale of the shares of Common Stock and the shares of Common Stock underlying the Pre-Funded Warrants sold in the PIPE financing.

Contact:

[email protected]

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SOURCE Aadi Bioscience

MILWAUKEE
, Feb. 18, 2025 /PRNewswire/ — Regal Rexnord Corporation (NYSE: RRX)

Regal Rexnord Corporation (NYSE: RRX) announced today the appointment of two new directors to the Board of Directors, Rashida A. Hodge and Gerben W. Bakker, effective February 17, 2025. The initial terms of Ms. Hodge and Mr. Bakker on the Board will continue until the 2025 annual meeting of shareholders, at which they will both be up for election.

Ms. Hodge currently serves as Microsoft’s Corporate Vice President of Customer Success – Azure Data and Artificial Intelligence (AI), where she leads the global commercial business, accelerating data-driven digital transformations for customers. Prior to Microsoft, Ms. Hodge was the Global Vice President at IBM, with two decades of experience as a sales and services enterprise leader providing transformative strategies in hardware, software and services, including leading the commercialization of IBM Watson. She also serves on the board of directors of Sonatype, a Vista Equity portfolio company, where she influences the field of software supply chain management and AI governance. 

Mr. Bakker serves as Chairman, President and Chief Executive Officer of Hubbell Incorporated, an international manufacturer of high quality, reliable electrical and utility solutions for a broad range of customer and end market applications. Prior to this appointment in 2020, he served as Hubbell’s Chief Operating Officer as of June 2019, after serving as President of the Power Systems group since 2014. Mr. Bakker began his career with Hubbell in 1988 as a manufacturing engineer with Hubbell Wiring Systems and has held positions of increasing leadership around the world in both Hubbell’s utility and electrical segments.

Regal Rexnord Chief Executive Officer, Louis Pinkham, commented, “We’re excited for Rashida and Gerben to join our Board. Rashida brings a wealth of experience as a technology and AI leader and Gerben brings valuable experience and strategic focus as a public company CEO leading a global manufacturing company. We are confident that their experiences will benefit our Board and Company immediately.” 

“Rashida and Gerben are high-caliber leaders with proven track record of success whose exceptional experience, insights and commitment to excellence make them a great fit for our Board of Directors to help further strengthen Regal Rexnord’s position for long-term success,” said Regal Rexnord Board non-executive Chairman, Rakesh Sachdev.

Regal Rexnord also announced today that Anesa Chaibi is retiring from its Board of Directors, effective February 17, 2025, following her appointment as the Chief Executive Officer of Global Industrial Company, a leading industrial distribution company. Mr. Sachdev said, “On behalf of our Board of Directors and management team, I would like to congratulate Anesa on her new position and thank her for her leadership, strategic insight, and invaluable contributions to Regal Rexnord for over ten years as a member of our Board.”

Additionally, the Company announced an increase in the size of the Board from ten to eleven directors.

About Regal Rexnord

Regal Rexnord’s 30,000 associates around the world help create a better tomorrow by providing sustainable solutions that power, transmit and control motion. The Company’s electric motors and air moving subsystems provide the power to create motion. A portfolio of highly engineered power transmission components and subsystems efficiently transmits motion to power industrial applications. The Company’s automation offering, comprised of controllers, drives, precision motors, and actuators, controls motion in applications ranging from factory automation to precision tools used in surgical applications.

The Company’s end markets benefit from meaningful secular demand tailwinds, and include factory automation, food & beverage, aerospace, medical, data center, warehouse, alternative energy, residential and commercial buildings, general industrial, construction, metals and mining, and agriculture.

Regal Rexnord is comprised of three operating segments: Industrial Powertrain Solutions, Power Efficiency Solutions, and Automation & Motion Control. Regal Rexnord is headquartered in Milwaukee, Wisconsin and has manufacturing, sales and service facilities worldwide. For more information, including a copy of our Sustainability Report, visit RegalRexnord.com.

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SOURCE Regal Rexnord Corporation

XIAMEN, China
, Feb. 18, 2025 /PRNewswire/ — Lichen China Limited (Nasdaq: LICN) (“Lichen China” or the “Company”), a dedicated financial and taxation service provider in China today announced that it has received a letter from The Nasdaq Stock Market LLC (“Nasdaq”), notifying that the Company is not in compliance with Nasdaq Listing Rule 5810(c)(3)(A)(iii) (the “Low Priced Stocks Rule”), as the Company’s securities had a closing bid price of $0.10 or less for eleven consecutive trading days from January 28, 2025 through February 11, 2025. The letter indicated that, as a result, the Nasdaq staff has determined to delist the Company’s ordinary shares from The Nasdaq Capital Market (the “Delisting Determination”).

As previously reported, on January 23, 2025, Nasdaq notified the Company that the bid price of its listed securities had closed at less than $1.00 per share over the previous 30 consecutive business days and, as a result, did not comply with Listing Rule 5550(a)(2). The Company was provided 180 calendar days, or until July 22, 2025, to regain compliance with this rule. The Delisting Determination ended the aforementioned compliance period before its expiration because the Company’s stock prices have triggered the Low Priced Stocks Rule. The Company was provided until February 19, 2025 to request an appeal of the Delisting Determination to the hearing panel.

The Company intends to request such hearing to appeal the Delisting Determination before that date, which will stay the suspension of its securities from the date of the request, during which time such securities will continue to be listed on The Nasdaq Capital Market.

If the Company fails to request an appeal of the Delisting Determination by February 19, 2025, trading of the Company’s ordinary shares will be suspended at the opening of business on February 21, 2025, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company’s securities from listing and registration on The Nasdaq Stock Market.

The Company is considering all potential options available to it to regain compliance with the aforementioned rules, including seeking shareholders’ approval for a reverse stock split.

About Lichen China Limited

Lichen China Limited focuses on providing financial and taxation solution services, education support services, and software and maintenance services under its “Lichen” brand. In recognition of the Company’s expertise and experience in the financial and taxation solution services industry for over 18 years, the Company has built up its reputation as a dedicated financial and taxation solution services provider of professional and high-quality services in China. For more information, please visit the Company’s website: https://ir.lichenzx.com/.

Forward-Looking Statements

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

For more information, please contact:

Tian Sun

Phone: +86-0592-5586999
Email: [email protected]

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SOURCE Lichen China Limited

DALLAS
, Feb. 18, 2025 /PRNewswire/ — Marine Petroleum Trust (NASDAQ: MARPS) (“Marine”) today declared a quarterly cash distribution to the holders of its units of beneficial interest of $0.077052 per unit, payable on March 28, 2025, to unitholders of record on February 28, 2025.  Marine’s 2024 tax information, cash distribution history, current and prior year financial reports, a link to filings made with the Securities and Exchange Commission and more can be found on its website at http://www.marps-marine.com/.  Additionally, printed reports can be requested and are mailed free of charge.

This distribution of $0.077052 per unit is lower than the $0.102923 per unit distributed last quarter.  The volumes of both oil and natural gas produced have decreased when compared to the previous quarter.  Pricing for oil has decreased, while natural gas prices have increased as compared to last quarter. This distribution is lower than the $0.101611 per unit distributed in the comparable quarter in 2024.  As compared to the same quarter in 2024, there was a decrease in the volume of oil produced while the volume of natural gas increased. As compared to the same quarter in 2024, prices realized for both oil and natural gas have decreased.

Marine’s distributions to unitholders are determined by royalties received up to the date the distribution amount is declared. In general, Marine receives royalties two months after oil production and three months after natural gas production.

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SOURCE Marine Petroleum Trust