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Enterprises in the Nordics Are Warming Up to Public Clouds

More companies and agencies in the highly wired region are pursuing transformative cloud migrations that include application modernization, ISG Provider Lens™ report says

STOCKHOLM–(BUSINESS WIRE)–
A growing number of large and midmarket enterprises in the Nordics are migrating to public clouds, attracted by new features, including FinOps capabilities, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.

The 2022 ISG Provider Lens™ Public Cloud — Solutions and Services report for the Nordics finds that companies and public agencies in the region, already more mature than most in terms of cloud computing, increasingly see public clouds as preferable to existing IT environments, such as private clouds, for cost, compliance and other reasons. Interest in moving workloads to public clouds is growing as several large enterprises accelerate digital transformations.

“Companies in the Nordics now consider public cloud a strong, viable option,” said Alexandra Classen, partner, technology modernization, at ISG. “Concerns about security and financial controls are fading as providers introduce features and platforms to address them.”

Organizations that were wary of moving all their workloads to a public hyperscaler’s cloud can now choose hybrid and multi-cloud configurations that let them use multiple services under a single management platform, the report says. This prevents dependence on one provider and offers more flexible capabilities.

There is strong demand in the Nordics, including in the public sector, for transformative cloud migrations that include application modernization, opening up the possibilities for re-engineering IT to meet business requirements, ISG says. These projects are powering greater use of cloud consulting and transformation services, which in turn heightens the ongoing challenge that providers face in recruiting and retaining skilled and experienced consultants.

The many low-latency network connections in the Nordics, including links to major European hubs such as London and Amsterdam, allow companies to access and operate cloud-based applications from almost anywhere, ISG says.

“Strong connectivity options, combined with many low-cost sources of energy, make the Nordics an attractive region for owning or using data centers,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research.

Companies in the Nordics can also choose from a growing number of public cloud providers, the report says. Several new hyperscalers, including Alibaba Cloud, Tencent, IBM Cloud and Oracle Cloud, are emerging as alternatives to the traditionally dominant AWS, Microsoft Azure and Google Cloud.

The report also explores several other public cloud trends in the Nordics, including steadily growing demand for SAP S/4HANA services on public clouds and strong partnerships between service providers and major hyperscalers and technology companies.

The 2022 ISG Provider Lens™ Public Cloud — Solutions and Services report for the Nordics evaluates the capabilities of 50 providers across six quadrants: Consulting and Transformation Services for Large Accounts, Consulting and Transformation Services for Midmarket, Managed Public Cloud Services for Large Accounts, Managed Public Cloud Services for Midmarket, Hyperscale Infrastructure and Platform Services, and SAP HANA Infrastructure Services.

The report names Tietoevery as a Leader in four quadrants and Sopra Steria as a Leader in three quadrants. It names Accenture, AWS, Capgemini, CGI, Fujitsu, Google, HCLTech, LTI, Microsoft, Orange Business Services, TCS, Tech Mahindra and Wipro as Leaders in two quadrants each. IBM, Kyndryl, NNIT and Nordcloud are named as Leaders in one quadrant each.

In addition, Atos, Infosys, N-iX and Tech Mahindra are named as Rising Stars — companies with a “promising portfolio” and “high future potential” by ISG’s definition — in one quadrant each.

The 2022 ISG Provider Lens™ Public Cloud — Solutions and Services report for the Nordics is available to subscribers or for one-time purchase on this webpage.

About ISG Provider Lens™ Research

The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG’s global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG’s enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.

A companion research series, the ISG Provider Lens Archetype reports, offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.

About ISG

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 800 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230119005231/en/

Press:

Will Thoretz, ISG

+1 203 517 3119

[email protected]

Julianna Sheridan, Matter Communications for ISG

+1 978-518-4520

[email protected]

KEYWORDS: Sweden Europe

INDUSTRY KEYWORDS: Mobile/Wireless Technology Finance Fintech Consulting Professional Services Software Networks Data Analytics IOT (Internet of Things)

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Vertical Aerospace Progresses Launch Plans in Japan With Asia’s First eVTOL Delivery Slot Reservation Fee From Marubeni Corporation

• Vertical’s customers are progressing plans for safer, greener, easier flight in Japan’s cities and regions by the mid 2020s

• Marubeni is making a pre-delivery payment to Vertical to reserve early delivery slots for the first 25 out of 200 VX4 conditional pre-orders

• Japan will be a major eVTOL opportunity given the market potential and focus on innovative future flight on the back of the 2025 Osaka World Expo

• Marubeni has already conducted proof-of-concept (POC) demonstration trials for Urban Air Mobility (UAM) services in Osaka

LONDON–(BUSINESS WIRE)–
Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero-emissions aviation, today announces that it has secured a pre-delivery payment for the reservation of aircraft delivery slots from its existing customer, the leading Japanese trading and investment conglomerate, Marubeni Corporation [Marubeni].

Following the joint working group partnership with Vertical, Marubeni has reserved aircraft delivery slots for 25 out of its up to 200 VX4 conditional pre-orders and becomes Vertical’s first customer in Asia to make a pre-delivery payment.

Marubeni’s commitment further reinforces Japan’s potential as a key launch market for Advanced Air Mobility [AAM] and over recent months, Marubeni has also conducted proof-of-concept (POC) demonstration trials in preparation for the Osaka World Expo 2025. Marubeni conducted flights from Osaka heliport to Wakayama using existing helicopters at future expected AAM service prices. Throughout the trials, Marubeni began addressing public awareness, acceptance, and requirements for future eVTOL services in the prefecture.

Vertical and Marubeni previously announced a partnership in September 2021 for conditional pre-order options of up to 200 aircraft, and joint evaluation of the requirements for eVTOL aircraft operations in Japan, as well as commercial considerations such as route and network planning and infrastructure requirements.

Stephen Fitzpatrick, Vertical Founder and CEO, said “We are delighted to have reached the next milestone in our partnership with Marubeni. Japan is a wonderful country which is embracing the promise of eVTOL, as it will connect cities and regions like never before. We look forward to our joint efforts to build the ecosystem for zero-emissions travel in Japan.”

Satoshi Takechi, General Manager, Aviation, Space & Defense Dept. said “We are proud to have taken another major step with Vertical Aerospace to introduce VX4 in Japan. I am confident that our continued joint efforts with Vertical Aerospace, such as evaluating the requirements for eVTOL operations and engaging the potential partners under the Joint Working Group, together with this new agreement, will accelerate the development of the AAM market in Japan. Marubeni will further enhance activities to materialize our business, which aims to make air travel more accessible and convenient, while simultaneously contributing to climate change mitigation measures, including low-carbon and decarbonization initiatives.”

-Ends-

About Vertical Aerospace

Vertical Aerospace is pioneering electric aviation. The company was founded in 2016 by Stephen Fitzpatrick, an established entrepreneur best known as the founder of the Ovo Group, a leading energy and technology group and Europe’s largest independent energy retailer. Over the past five years, Vertical has focused on building the most experienced and senior team in the eVTOL industry, who have over 1,700 combined years of engineering experience, and have certified and supported over 30 different civil and military aircraft and propulsion systems.

Vertical’s top-tier partner ecosystem is expected to de-risk operational execution and its pathway to certification allows for a lean cost structure and enables production at scale. Vertical has a market-leading pre-order book by value for more than 1,400 aircraft from global customers creating multiple potential near term and actionable routes to market. Customers include American Airlines, Virgin Atlantic, Avolon, Bristow, Marubeni, Iberojet and FLYINGGROUP, as well as Japan Airlines (JAL), Gol, Air Greenland, Gozen Holding and AirAsia, through Avolon’s VX4 placements.

Having been issued with its Permit to Fly from the UK’s Civil Aviation Authority in September 2022, Vertical’s VX4 prototype has successfully undertaken piloted flight tests. The flight test programme will continue over the coming months, reaching higher altitudes and speeds, as well as demonstrating the transition from vertical to horizontal flight.

Vertical’s ordinary shares and warrants commenced trading on the NYSE in December 2021 under the tickers “EVTL” and “EVTLW,” respectively.

About the VX4 eVTOL Aircraft

The VX4 is projected to be capable of transporting a pilot and up to four passengers, traveling distances of 100 miles, and achieving top speeds of over 200 miles per hour, while producing minimal noise and zero operating emissions. The VX4 is expected to open up advanced air mobility to a whole new range of passengers and transform how we travel. Find out more: vertical-aerospace.com

Vertical Media Kit

Available here

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding the conditionality of pre-orders and commitments, which may be terminated at any time by either party and that pre-delivery payments may be fully refundable upon certain circumstances, certification and the commercialization of the VX4 and related timelines, the differential strategy compared to its peer group, the features and capabilities of the VX4, the transition towards a net-zero emissions economy, expected financial performance and operational performance for the fiscal year ending December 31, 2022, as well as statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate,” “will,” “aim,” “potential,” “continue,” “are likely to” and similar statements of a future or forward-looking nature. Forward-looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation: Vertical’s limited operating history without manufactured non-prototype aircraft or completed eVTOL aircraft customer order; Vertical’s history of losses and the expectation to incur significant expenses and continuing losses for the foreseeable future; the market for eVTOL aircraft being in a relatively early stage; the potential inability of Vertical to produce or launch aircraft in the volumes and on timelines projected; the potential inability of Vertical to obtain the necessary certifications on the timelines projected; any accidents or incidents involving eVTOL aircraft could harm Vertical’s business; Vertical’s dependence on partners and suppliers for the components in its aircraft and for operational needs; the potential that certain of Vertical’s strategic partnerships may not materialize into long-term partnership arrangements; pre-orders Vertical has received for its aircraft are conditional and may be terminated at any time by either party and any pre-delivery payments may be fully refundable upon certain circumstances; any potential failure by Vertical to effectively manage its growth; the impact of COVID-19 on Vertical’s business; Vertical has identified material weaknesses in its internal controls over financial reporting and may be unable to remediate the material weaknesses; Vertical’s dependence on our senior management team and other highly skilled personnel; as a foreign private issuer Vertical follows certain home country corporate governance rules, is not subject to U.S. proxy rules and is subject to Exchange Act reporting obligations that, to some extent, are more lenient and less frequent than those of a U.S. domestic public company; and the other important factors discussed under the caption “Risk Factors” in our Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) on April 29, 2022, as such factors may be updated from time to time in Vertical’s other filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. Vertical disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230119005036/en/

For more information:

Vertical Media

Harry Roxburgh

[email protected]

+44 7814 372664

Vertical Investors

Eduardo Royes

[email protected]

+1 646 200 8871

KEYWORDS: Europe Japan United Kingdom Asia Pacific

INDUSTRY KEYWORDS: Engineering Air Environment Aerospace Transport Manufacturing Green Technology

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ICL Invests in Breakthrough Sustainable Protein Ingredients Startup Arkeon

Companies partnering to develop CO₂-derived protein ingredients for food applications, using Arkeon’s carbon conversion process

TEL AVIV, Israel–(BUSINESS WIRE)–ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals company, today announced its AgriFood innovation and investment platform, ICL Planet Startup Hub, has invested €2.75 million in Arkeon, GmbH. The investment will support Arkeon’s innovative and sustainable one-step fermentation bioprocess, which creates completely customizable protein ingredients by capturing the greenhouse gas carbon dioxide (CO₂) and converting it into the 20 proteinogenic amino acids necessary for human nutrition. The resulting alternative proteins are carbon negative and clean-label functional ingredients.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230118005879/en/

Arkeon’s patented process pioneered the harnessing of carbon dioxide to make protein – through the use of archaea, a highly resilient single-celled microorganism – without genetic engineering. Archaea, part of the microbiota of all organisms, naturally feeds on CO₂ and transforms these environmental emissions into nutritious protein – meaning the process is not just sustainable, it is also regenerative.

“I dedicated much of the past decade to exploring new and sustainable biotechnological methods of alternative protein production,” said Gregor Tegl, PhD, co-founder and CEO of Arkeon. “Our team has harnessed proficiencies in microbiology and gas fermentation to create an entirely new regenerative food-production system. ICL’s support and partnership will be instrumental in helping us scale our archaea-derived protein production capabilities.”

“Arkeon has achieved a major breakthrough, by finding a way to nourish people and revitalize our ecosystems at the same time,” said Hadar Sutovsky, vice president of External Innovation at ICL, and general manager of ICL Planet. “Arkeon’s dedication to developing a renewable and easy to use protein is completely in-line with our organization’s commitment to creating impactful solutions for humanity’s sustainability challenges in the global food markets.”

“Although a young company, Arkeon brings to the table innovative and sustainable technology for use in creating the next generation of alternative protein products. They also fully align with ICL Food Specialties growth strategy of pursuing new frontiers in unique and functional alternative proteins,” added Rado Sporka, vice president of the Food Specialties Commercial Business for ICL. “As an established corporation, we are able to offer our advanced infrastructure, extensive experience and accrued insights, plus market and regulatory related support. We look forward to working with this promising start-up to unlock a whole new food category based on Arkeon’s unique protein discovery, which is not dependent on land and requires minimal use of water, providing it with a limited ecological footprint.”

ICL is leading the current SAFE investment round, which totals more than €4 million and includes other investors, as well. As the newest portfolio member of ICL’s Planet Startup Hub, Arkeon will have full access to the ICL Food Specialties state-of-the-art R&D labs and production facilities. Arkeon marks ICL’s third investment over the past 12 months, via its Planet Startup Hub, which the company launched in 2021. The accelerator was established to nurture and advance both early stage and pilot-ready innovative companies operating within the FoodTech and AgriTech domains.

About ICL

ICL Group Ltd. is a leading global specialty minerals company, which creates impactful solutions for humanity’s sustainability challenges in the food, agriculture and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its global professional workforce, and its sustainability focused R&D and technological innovation capabilities, to drive the company’s growth across its end markets. ICL shares are dual listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs more than 12,500 people worldwide, and its 2021 revenues totaled approximately $7 billion.

For more information, visit ICL’s website at www.icl-group.com.

To access ICL’s interactive ESG report, please click here.

You can also learn more about ICL on Facebook, LinkedIn and Instagram.

About Arkeon GmbH (Arkeon)

Arkeon is an ingredients company, based in Vienna, Austria, leveraging the power of ancient microbes to convert CO2 directly into protein ingredients. The company’s proprietary technology is a new, innovative approach to produce amino acids and functional peptides for food and lifestyle products, enabling a regenerative way to nourish people on a global scale. The company’s technological foundations have been built up over a decade of research by Co-Founders Dr. Simon Rittmann, Dr. Guenther Bochmann, and Dr. Gregor Tegl.

For more information, visit www.arkeon.bio.

Press information available at [email protected] and arkeon.bio/press.

Forward Looking Statements

This announcement contains statements that constitute forward‑looking statements, many of which can be identified by the use of forward‑looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “estimate” and “potential,” among others.

Forward-looking statements appear in this press release and include, but are not limited to, statements regarding the company’s intent, belief or current expectations. Forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to: estimates, forecasts and statements as to management’s expectations with respect to, among other things, business and financial prospects, financial multiples and accretion estimates, future trends, plans, strategies, positioning, objectives and expectations, general economic, market and business conditions, supply chain and logistics disruptions, energy storage and electric vehicle growth, the potential for new COVID-19 variants, global unrest and conflict, governmental and regulatory requirements and actions by governmental authorities, including changes in government policy, changes in environmental, tax and other laws or regulations and the interpretation thereof. As a result of the foregoing, readers should not place undue reliance on the forward‐looking statements contained in this press release concerning the timing of the transaction, or other more specific risks and uncertainties facing ICL, such as those set forth in the “Risk Factors” section of its Annual Report on Form 20-F filed on February 23, 2022, as such risk factors may be updated from time to time in its Current Reports on Form 6-K and other filings ICL makes with the U.S. Securities and Exchange Commission from time to time.

Forward-looking statements refer only to the date they are made, and the company does not undertake any obligation to update them in light of new information or future developments or to publicly release any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of unanticipated events.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230118005879/en/

Investor and Press Contact – Global

Peggy Reilly Tharp

VP, Global Investor Relations

+1-314-983-7665

[email protected]

Investor and Press Contact – Israel

Adi Bajayo

Spokesperson and IR Representative

+972-3-6844459

[email protected]

KEYWORDS: New York United States North America Israel Middle East

INDUSTRY KEYWORDS: Environment Professional Services Sustainability Other Natural Resources Food/Beverage Mining/Minerals Agriculture Environmental, Social and Governance (ESG) Retail Natural Resources

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Innovative Industrial Properties Announces Q4 and FY 2022 Operating, Investment and Capital Markets Activity

SAN DIEGO–(BUSINESS WIRE)–
Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today its operating, investment and capital markets activity for the quarter and year ended December 31, 2022.

Property Portfolio Information and Operational Update (as of December 31, 2022 unless otherwise noted)

IIP owned 110 properties located in 19 states, representing a total of approximately 8.7 million rentable square feet (including approximately 1.9 million rentable square feet under development / redevelopment), including:

– Operating portfolio: 108 properties, representing approximately 8.3 million rentable square feet.

• 100% leased (triple-net).
• Weighted-average lease length: 15.3 years.
• Total invested / committed capital per square foot: $274

– Portfolio statistics by invested / committed capital:

• No tenant represents more than 14% of the total portfolio.
• No state represents more than 16% of the total portfolio.
• Multi-state operators (MSOs) represent 85% of the operating portfolio.
• Public company operators represent 55% of the operating portfolio.
• Industrial (cultivation and/or processing), retail (dispensing) and combined industrial/retail represent 90%, 3% and 7% of operating portfolio, respectively.

– Rent collection / deferrals:

• Rent collection for IIP’s operating portfolio (calculated as base rent and property management fees collected over contractually due amounts) was as follows:
  • 92% collected as of today for the month ending January 31, 2023 (including approximately $324,000 of a security deposit applied for payment of rent for IIP’s lease with Holistic Industries Inc. (Holistic) at IIP’s Michigan property (see discussion below) and receipt of the full rent payment from Sozo Health, Inc. (Sozo));
  • 94% collected for the three months ended December 31, 2022 (including approximately $541,000 of security deposits applied for payment of rent for IIP’s lease with Sozo); and
  • 97% collected for the year ended December 31, 2022 (including an aggregate of approximately $2.7 million of security deposits applied for payment of rent for IIP’s leases with Kings Garden Inc. (Kings Garden) and Sozo).

• As of January 18, 2023:
  • SH Parent, Inc. (Parallel) was in default on its obligations to pay rent at one of IIP’s Pennsylvania properties (approximately 2.9% of invested / committed capital).
    • Rent was paid in full through January 31, 2023 on all other IIP properties leased by Parallel.
  • Green Peak Industries, Inc. (Skymint) was in default on its obligations to pay rent at one of IIP’s Michigan properties under construction (approximately 2.7% of invested / committed capital).
    • Rent was paid in full through January 31, 2023 on all other IIP properties leased by Skymint.
  • Affiliates of Medical Investor Holdings, LLC (Vertical) were in default on their obligations to pay rent at IIP’s California properties (approximately 0.7% of invested / committed capital).

• As of January 18, 2023, IIP had executed lease amendments to include cross-default provisions and/or extend lease terms in exchange for limited base rent deferrals for the following three properties:
  • One California property and one Michigan property leased by Holistic (approximately 1.8% of invested / committed capital in the aggregate):
    • 100% of base rent to be applied from the security deposits held by IIP for the nine months ending September 30, 2023 with respect to the Michigan property and the eight months ending September 30, 2023 with respect to the California property, with pro rata payback of the security deposits over 12 months starting January 2024.
    • Rent was paid in full through January 31, 2023 for Holistic at IIP’s California property and all other IIP properties leased by Holistic.
    • Added cross-default and extended terms of all leases, with no other adjustments to lease terms.
  • One Missouri property leased by Calyx Peak, Inc. (approximately 1.2% of invested / committed capital):
    • 100% base rent deferral through March 31, 2023, with pro rata payback over the following 12 months.
    • Extended term of lease, with no other adjustments to lease terms.

– Kings Garden Update:

• Kings Garden is paying rent for the four properties in California that it continues to occupy, including rent on the capital invested in the expansion project which is a part of the lease of one of the properties (this project is included as construction in progress below).
  • For the three months ended December 31, 2022, Kings Garden paid approximately $1.8 million in base rent at these four properties, in addition to reimbursement to IIP for pro rata taxes and insurance and direct payments for all other property operating costs.
• Kings Garden indicated that it is exploring potential merger transactions.
• IIP recovered an additional approximately $5.4 million from Kings Garden during the three months ended December 31, 2022, which is expected to be accounted for as a reduction to construction in progress.

– Construction in progress: two properties (previously leased to Kings Garden), and an expansion project at a property where Kings Garden continues to occupy the property and pay rent, representing approximately 395,000 rentable square feet in the aggregate.

• San Bernardino property (approximately 192,000 rentable square feet): IIP is actively evaluating alternative non-cannabis uses for the property due to market conditions in California and changes in the zoning of the property.
• Cathedral City property (approximately 23,000 rentable square feet): IIP executed a letter of intent to lease the property and is negotiating lease terms with the potential tenant. There can be no assurance that IIP will lease the property on the terms anticipated, or at all.

Investment Activity

In 2022, IIP made nine acquisitions for properties located in seven states, and executed 12 lease amendments to provide additional improvement allowances at properties in seven states, totaling an aggregate of approximately $394 million (including initial acquisition investments and commitments to fund future improvement allowances).

In November 2022, IIP sold a Pennsylvania industrial property leased to a subsidiary of Maitri Holdings, LLC for $23.5 million (approximately $461 per square foot).

As of January 18, 2023, IIP has entered into two definitive purchase agreements to acquire two properties for a total aggregate investment of approximately $63.0 million, which includes amounts expected to be made available as reimbursement to the applicable tenants for qualifying improvements to the properties. As of January 18, 2023, IIP has also executed four non-binding letters of intent to acquire two properties and to make available additional funding for improvements at two of IIP’s properties, representing a total expected investment by IIP of approximately $93.8 million. Each potential acquisition and additional funding is subject to ongoing diligence, execution of definitive agreements (as applicable) and the satisfaction of closing conditions, and there can be no assurance that IIP will consummate the acquisition of any of these properties or make available any additional funding at its existing properties on the terms anticipated, or at all.

Balance Sheet Statistics (as of December 31, 2022)

• 12% debt to total gross assets, with approximately $2.6 billion in total gross assets.
• Total quarterly fixed cash interest obligation of approximately $4.2 million.
• No secured debt.
• No debt maturities until May 2026, other than $6.4 million principal amount of 3.75% Exchangeable Senior Notes in 2024.

About Innovative Industrial Properties

Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated cannabis facilities. Innovative Industrial Properties, Inc. has elected to be taxed as a real estate investment trust, commencing with the year ended December 31, 2017. Additional information is available at www.innovativeindustrialproperties.com.

This press release contains statements that IIP believes to be “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than historical facts are forward-looking statements. When used in this press release, words such as IIP “expects,” “intends,” “plans,” “estimates,” “anticipates,” “believes” or “should” or the negative thereof or similar terminology are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Investors should not place undue reliance upon forward-looking statements. IIP disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230118005975/en/

IIP Contact:

Catherine Hastings

Chief Financial Officer

Innovative Industrial Properties, Inc.

(858) 997-3332

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Commercial Building & Real Estate Construction & Property Public Relations/Investor Relations REIT Cannabis Communications Search Engine Optimization Search Engine Marketing Natural Resources

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Posted on January 18, 2023 8:04 pm

PowerSchool Survey Reveals the Need to Engage First-Generation College Students to Help Them Plan for College, Career, and Life Readiness

PowerSchool Survey Reveals the Need to Engage First-Generation College Students to Help Them Plan for College, Career, and Life Readiness

Research found first-generation students were more likely to enroll in a two-year college or start work directly after high school

FOLSOM, Calif.–(BUSINESS WIRE)–PowerSchool, the leading provider of cloud-based software for K-12 education in North America, has announced results from its third annual Naviance Student Survey. The survey found that first-generation students – those whose parents did not finish college – were more likely to forgo enrolling in a four-year college and are more likely to enroll in a two-year college or enter the workforce after high school.

The annual report surveyed 9,600 middle and high school students in the spring of 2022, exploring how students are making postsecondary planning decisions and what they need from school communities to be successful in reaching their goals. The survey found most high school seniors (77%) plan to attend college. However, as a result of the shifts related to the COVID-19 pandemic, recent and soon-to-be graduates engaged with college planning activities much later than their predecessors. This, along with a fluctuating economy and the student debt crisis, has caused greater uncertainty for students in their postsecondary plans as they navigate a challenging landscape. Increasing uncertainty is also driving fewer students to apply via binding early decision applications.

Seniors who were not planning to attend college (23%) were also facing uncertainty. Almost one third (32%) of students not planning to attend college reported being undecided about postsecondary plans. When asked what resources or tools would help them with their planning, almost half reported “access to job shadows or career fairs” and an additional quarter requested “more tools to research colleges and careers, visiting a college campus, and meeting with my counselor more.”

“Over the past two years, we have seen an acceleration in the diversification of postsecondary options and increasing uncertainty among students and families regarding how they connect academic and lifelong success,” said Amy Reitz, Group Vice President, Product, PowerSchool. “The results of the Naviance Student Survey illustrate the criticality of providing connected pathway planning resources that help all students pursue their post-secondary and career goals. This direct feedback is helping our product development team evolve Naviance to ensure we’re providing a solution that meets the needs of students today and tomorrow.”

Plans for First-Generation College Students

For the first time, questions included in the survey focused on postsecondary plans between high school seniors that identify as first-generation (those who reported that their parents had not completed college) with seniors who are not the first in their family to attend college. Key comparisons include:

• First-generation students were less likely to enroll in a four-year college (43% compared to non-first-generation at 72%) and more likely to enroll in a two-year college (25% compared to 14%).
• First-generation students were more likely to be undecided or planned to start work after high school (10% compared to 4% for both).
• First-generation students were more likely to report enrolling in a trade school (9% compared to 4%).

Without a college degree earner in their household, first-generation college students can benefit from additional advice and support provided by their schools or other resources, including Naviance, which helps fill information gaps if they choose a higher education path. Features such as SuperMatch^®, give students a college search tool that makes it easier for them to discover colleges and universities that are a match for their needs. Naviance also includes self-paced lessons for students in grades 6-12 to take within the platform, with an emphasis on understanding financial aid and how to pay for college.

Unified Classroom^® Naviance CCLR offers a variety of career exploration tools including work-based learning, where students can access real-world career learning experiences, such as internships, job shadows, career fairs, externships, and apprenticeships. Additionally, students have access to Career Cluster Finder, which helps students identify specific career clusters that match their interests.

More information, additional results, and insights about the 2022 Naviance Student Survey can be found at https://www.powerschool.com/whitepaper/2022-naviance-student-survey-report/.

PowerSchool and FourPoints Education Partners will be hosting a webinar on January 31, 2023, to discuss the results of the 2022 Naviance Student Survey and how the data can inform schools’ approaches to postsecondary planning. To register, please visit https://www.powerschool.com/webinar/2022-naviance-student-survey/.

About PowerSchool

PowerSchool (NYSE: PWSC) is the leading provider of cloud-based software for K-12 education in North America. Its mission is to power the education ecosystem with unified technology that helps educators and students realize their full potential, in their way. PowerSchool connects students, teachers, administrators, and parents, with the shared goal of improving student outcomes. From the office to the classroom to the home, it helps schools and districts efficiently manage state reporting and related compliance, special education, finance, human resources, talent, registration, attendance, funding, learning, instruction, grading, assessments and analytics in one unified platform. PowerSchool supports over 45 million students globally and more than 15,000 customers, including over 90 of the top 100 districts by student enrollment in the United States, and sells solutions in over 90 countries. Visit www.powerschool.com to learn more.

© PowerSchool. PowerSchool and other PowerSchool marks are trademarks of PowerSchool Holdings, Inc. or its subsidiaries. *Other names and brands may be claimed as the property of others.

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Media Contact:

WE Communications for PowerSchool

[email protected]

425-638-7000

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: University Technology Primary/Secondary Software Education

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bluebird bio, Inc. Announces Pricing of $120 Million Public Offering of Common Stock

SOMERVILLE, Mass.–(BUSINESS WIRE)–
bluebird bio, Inc. (Nasdaq: BLUE) (“bluebird”) today announced the pricing of its underwritten public offering of 20,000,000 shares of its common stock at a public offering price of $6.00 per share, before deducting underwriting discounts and commissions. bluebird also granted the underwriters a 30-day option to purchase up to an additional 3,000,000 shares of its common stock at the public offering price per share, less underwriting discounts and commissions. The gross proceeds from the public offering are expected be $120 million, before deducting underwriting discounts and commissions and offering expenses payable by bluebird and assuming no exercise of the underwriters’ option to purchase additional shares of common stock. All shares in the offering are to be sold by bluebird.

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as joint book running managers for the offering.

bluebird intends to use the net proceeds of the offering (i) to support commercialization and manufacturing for its two approved gene therapies, ZYNTEGLO and SKYSONA; (ii) to accelerate future commercialization activities for its gene therapy candidate, lovotibeglogene autotemcel (lovo-cel) for sickle cell disease, if approved; and (iii) to fund working capital and other general corporate purposes.

The offering is expected to close on or about January 23, 2023, subject to customary closing conditions.

The offering is being made pursuant to an effective shelf registration statement on Form S-3, including a prospectus, that was filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 18, 2020 and was automatically effective upon filing. A preliminary prospectus supplement describing the terms of the offering has been filed with the SEC. A final prospectus supplement will be filed with the SEC and will form a part of the effective registration statement. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained, when available, by contacting Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by phone at (866) 471-2526, or by email at [email protected]; or J.P. Morgan Securities LLC, Attention: c/o Broadridge Financial Solutions, 155 Long Island Avenue, Edgewood, NY 11717, by phone at (866) 803-9204, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 jurisdiction.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements in this press release include, without limitation, statements regarding the consummation of the offering, the terms of the offering and the anticipated use of the net proceeds from the offering. All statements that are not statements of historical facts are, or may be deemed to be, forward-looking statements. Such forward-looking statements are based on historical performance and current expectations and projections about our future financial results, goals, plans and objectives and involve inherent risks, assumptions and uncertainties, including internal or external factors that could delay, divert or change any of them in the next several years, that are difficult to predict, may be beyond our control and could cause our future financial results, goals, plans and objectives to differ materially from those expressed in, or implied by, the statements. No forward-looking statement can be guaranteed. Forward-looking statements in this press release should be evaluated together with the many risks and uncertainties that affect bluebird bio’s business, particularly those identified in the risk factors discussion in bluebird bio’s Annual Report on Form 10-K, as updated by our subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission. These risks include, but are not limited to: the risk that we may not realize expected cost savings from the restructuring, including the anticipated decrease in operational expenses, at the levels we expect; we may encounter additional delays in the development of our programs, including the imposition of new clinical holds or delays in resolving existing clinical holds, that may impact our ability to meet our expected timelines and increase our costs; the internal and external costs required for our ongoing and planned activities, and the resulting impact on expense and use of cash, may be higher than expected which may cause us to use cash more quickly than we expect or change or curtail some of our plans or both; our expectations as to expenses, cash usage and cash needs may prove not to be correct for other reasons such as changes in plans or actual events being different than our assumptions; the risk that the efficacy and safety results from our prior and ongoing clinical trials will not continue or be seen in additional patients treated with our product candidates; the risk that additional insertional oncogenic or other reportable events associated with lentiviral vector, drug product, or myeloablation will be discovered or reported over time; the risk that our eli-cel, beti-cel and lovo-cel programs may be subject to further delays in their development, including but not limited to the imposition of new clinical holds; the risk that lovo-cel may not be approved within the priority review timeframe or at all; and the risk that any one or more of our products and product candidates, including eli-cel, beti-cel or lovo-cel, will not be successfully developed, approved or commercialized. The forward-looking statements included in this press release are made only as of the date of this press release and except as otherwise required by applicable law, bluebird bio undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise.

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Investors & Media

Investors:

Courtney O’Leary, 978-621-7347

[email protected]

Media:

Sarah Alspach, 857-299-6198

[email protected]

KEYWORDS: United States North America Massachusetts

INDUSTRY KEYWORDS: General Health Pharmaceutical Genetics Health

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NMG Announces the Engagement of Red Cloud Securities and Specifies the Grant of Consultant Options

MONTRÉAL–(BUSINESS WIRE)–
Nouveau Monde Graphite Inc. (“NMG” or the “Company”) (NYSE: NMG, TSXV: NOU) announces the engagement of Red Cloud Securities to provide liquidity services to the Company. Also, NMG specifies that the new options granted on December 1, 2022, to two consultants, will vest at certain conditions on or before March 28, 2025, and will expire two (2) years following the vesting of those options (no later than March 28, 2027).

Engagement of Red Cloud Securities

NMG announces that it has retained Red Cloud Securities (“Red Cloud”), subject to all required regulatory approvals, including the approval of the TSX Venture Exchange (the “Exchange”) to provide liquidity services to the Company in compliance with the policies and guidelines of the Exchange and other applicable legislation, pursuant to an agreement engagement letter entered into between the Company and Red Cloud effective January 2, 2023 (the “Agreement”). Red Cloud is a Toronto-based financial services company that helps mineral exploration and mining companies with accessing capital markets and enhancing their corporate profile. Red Cloud is not promoting the specific purchase or sale of securities. Red Cloud will trade shares of NMG on the Exchange for the purposes of maintaining a reasonable market and improving the liquidity of NMG’s common shares.

Under the Agreement, the Company will pay Red Cloud $5,000 per month during the term, payable quarterly in advance. The term of engagement is ongoing and may be terminated by either party on 30-day prior written notice. The Company and Red Cloud have an arm’s length relationship, but Red Cloud and/or its clients may have an interest, directly or indirectly, in the securities of NMG. Adam Smith will be the responsible person. The Agreement is principally for the purposes of maintaining market stability and liquidity for the Company’s common shares and is not a formal market-making agreement. There are no performance factors contained in the Agreement and Red Cloud will not receive any shares or options from the Company as compensation for the services it will render.

Other

On December 1, 2022, NMG announced the cancellation of 487,804 options and grant of 453,048 new options to two consultants, subject to the Exchange approval. NMG wishes to specify that those new options will vest at certain conditions on or before March 28, 2025, and will expire two (2) years following the vesting of those options (no later than March 28, 2027).