Market Newsdesk

First Republic Bank Strengthens and Diversifies Liquidity

Capital and Liquidity Remain Very Strong

SAN FRANCISCO–(BUSINESS WIRE)–First Republic Bank (NYSE:FRC), a leading private bank and wealth management company, today said it has further enhanced and diversified its financial position through access to additional liquidity from the Federal Reserve Bank and JPMorgan Chase & Co.

The additional borrowing capacity from the Federal Reserve, continued access to funding through the Federal Home Loan Bank, and ability to access additional financing through JPMorgan Chase & Co. increases, diversifies, and further strengthens First Republic’s existing liquidity profile. The total available, unused liquidity to fund operations is now more than $70 billion. This excludes additional liquidity First Republic is eligible to receive under the new Bank Term Funding Program announced by the Federal Reserve today.

Jim Herbert, Founder and Executive Chairman and Mike Roffler, CEO and President of First Republic Bank said, “First Republic’s capital and liquidity positions are very strong, and its capital remains well above the regulatory threshold for well-capitalized banks. As we have done since 1985, we operate with an emphasis on safety and stability at all times, while maintaining a well-diversified deposit base. First Republic continues to fund loans, process transactions and fully serve the needs of clients by delivering exceptional service.”

About First Republic Bank

Founded in 1985, First Republic and its subsidiaries offer private banking, private business banking and private wealth management. First Republic specializes in delivering exceptional, relationship-based service and provides a complete line of products, including residential, commercial and personal loans, deposit services, and private wealth management, including investment, brokerage, insurance, trust and foreign exchange services. Services are offered through preferred banking or wealth management offices primarily in San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach and San Diego, California; Portland, Oregon; Boston, Massachusetts; Palm Beach, Florida; Greenwich, Connecticut; New York, New York; Jackson, Wyoming; and Bellevue, Washington. First Republic is a constituent of the S&P 500 Index and KBW Nasdaq Bank Index. For more information, visit firstrepublic.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements about our expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as “anticipates,” “believes,” “can,” “could,” “may,” “predicts,” “potential,” “should,” “will,” “estimates,” “plans,” “projects,” “continuing,” “ongoing,” “expects,” “intends” and similar words or phrases. Accordingly, these statements are only predictions and involve estimates, known and unknown risks, assumptions and uncertainties that could cause actual results to differ materially from those expressed in them. All forward-looking statements are necessarily only estimates of future results, and there can be no assurance that actual results will not differ materially from expectations, and, therefore, you are cautioned not to place undue reliance on such statements. Any forward-looking statements are qualified in their entirety by reference to the factors discussed throughout our public filings under the Securities Exchange Act of 1934, as amended. Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.

FRC-G

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Investors:

Andrew Greenebaum / Kimberly Esterkin

Addo Investor Relations

[email protected], [email protected]

(310) 829-5400

Media:

Greg Berardi

Blue Marlin Partners

[email protected]

(415) 239-7826

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

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First Foundation Bank Reaffirms the Strength of Its Financial Position in Wake of Industry Developments

DALLAS–(BUSINESS WIRE)–First Foundation Inc. (NASDAQ: FFWM) (“First Foundation” or the “Company”), a financial services company with two wholly-owned operating subsidiaries, First Foundation Advisors and First Foundation Bank today issued the following updated financial information to reiterate its strong financial position as a regional bank.

First Foundation has a resilient core business, with First Foundation Bank managing assets valued at more than $13.2 billion.

First Foundation Bank has a strongliquidity position with the following balances:

• Cash and cash equivalents held on balance sheet of approximately $972 million as of 3/10/23.
• Fully collateralized credit facility from the Federal Home Loan Bank with $2.3 billion available as of 3/10/23.
• Federal Reserve discount window availability of $343 million as of 3/10/23.
• Available uncommitted credit lines of $254 million as of 3/10/23.
• Market value of unpledged securities is $576 million as of 2/28/23, that could be liquidated or pledged to provide additional liquidity if needed.
• Held-to-maturity securities of 6% of assets with an unrecognized adverse mark of only $96 million, as of 2/28/23.
• Loan balance of $10.7 billion as of 3/10/23.
• The loan-to-deposit ratio was 98% as of 3/10/23.

First Foundation Bank has a diversified mix of deposits thathas limited-to-no direct exposure to venture capital-backed deposits. Total deposits measured $10.9 billion as of 3/10/23, an increase of $600 million since year-end 2022. Additionally, First Foundation Bank maintained the following deposit balances:

• Total branch deposits of $4.1 billion as of 3/10/23, compared to $4.1 billion of 12/31/22. This is consistent with typical cyclicality of branch inflows and outflows in the first quarter of the year.
• Total digital banking deposits of $876 million as of 3/10/23, compared to $789 million of 12/31/22. This continues to be a robust channel for gathering deposits.
• Total commercial services deposits, or specialty deposits, of $4.0 billion as of 3/10/23, compared to $4.0 billion of 12/31/22. First Foundation Bank’s industry reputation for serving this specialized client base remains strong.
• Non-interest-bearing demand deposits measured 24% of total deposits as of 3/10/23.
• Exposure to the technology industry is limited as First Foundation Bank has not focused on technology clients, instead attracting deposits from a variety of sectors.

Additionally, asset quality remains excellent, and First Foundation Bank has experienced no significant changes in classified assets, non-performing assets, and charge-offs since year-end. Known for outstanding credit quality and capital strength, First Foundation Bank has NPAs of 12 basis points as of 12/31/22 and a CET1 ratio of 10.6% as of 12/31/22.

Furthermore, First Foundation Bank has no direct exposure to Silicon Valley Bank or Silvergate Bank.

“Following recent market developments, we wanted to publicly disclose updated information to confirm the strength of our financial position,” said Scott F. Kavanaugh, President and CEO. “First Foundation remains stable in this difficult market moment for regional banks through our careful balance between loans and deposits. Our liquidity positions are healthy. Our risk management has kept us well-positioned to serve our clients no matter what shifts in the industry come. We will continue to serve as a trusted partner to our customers.”

About First Foundation

First Foundation Inc. (NASDAQ: FFWM) and its subsidiaries offer personal banking, business banking, and private wealth management services, including investment, trust, insurance, and philanthropy services. This comprehensive platform of financial services is designed to help clients at any stage in their financial journey. The broad range of financial products and services offered by First Foundation are more consistent with those offered by larger financial institutions, while its high level of personalized service, accessibility, and responsiveness to clients is more aligned with community banks and boutique wealth management firms. This combination of an integrated platform of comprehensive financial products and personalized service differentiates First Foundation from many of its competitors and has contributed to the growth of its client base and business. Learn more at firstfoundationinc.com or connect with us on LinkedIn and Twitter.

Forward-Looking Statements

This report includes forward-looking statements within the meaning of the “Safe-Harbor” provisions of the Private Securities Litigation Reform Act of 1995, including forward-looking statements regarding our expectations and beliefs about our future financial performance and financial condition, as well as trends in our business and markets. Forward-looking statements often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “project,” “outlook,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” The forward-looking statements in this report are based on current information and on assumptions that we make about future events and circumstances that are subject to a number of risks and uncertainties that are often difficult to predict and beyond our control. As a result of those risks and uncertainties, our actual financial results in the future could differ, possibly materially, from those expressed in or implied by the forward-looking statements contained in this report and could cause us to make changes to our future plans. Those risks and uncertainties include, but are not limited to, the risk of incurring credit losses, which is an inherent risk of the banking business; the negative impacts and disruptions resulting from the COVID-19 pandemic on our colleagues, clients, the communities we serve and the domestic and global economy, which may have an adverse effect on our business, financial position and results of operations; the risk that we will not be able to continue our internal growth rate; the performance of loans currently on deferral following the expiration of the respective deferral periods; the risk that we will not be able to access the securitization market on favorable terms or at all; changes in general economic conditions, either nationally or locally in the areas in which we conduct or will conduct our business; risks associated with changes in interest rates, which could adversely affect our interest income and interest rate margins and, therefore, our future operating results; the risk that the performance of our investment management business or of the equity and bond markets could lead clients to move their funds from or close their investment accounts with us, which would reduce our assets under management and adversely affect our operating results; the risk that we may be unable or that our board of directors may determine that it is inadvisable to pay future dividends at historic levels or at all; risks associated with changes in income tax laws and regulations; and risks associated with seeking new client relationships and maintaining existing client relationships.

Additional information regarding these and other risks and uncertainties to which our business and future financial performance are subject is contained in our 2022 Annual Report on Form 10-K for the fiscal year ended December 31, 2022, that we filed with the SEC on February 28, 2023, and other documents we file with the SEC from time to time. We urge readers of this report to review those reports and other documents we file with the SEC from time to time. Also, our actual financial results in the future may differ from those currently expected due to additional risks and uncertainties of which we are not currently aware or which we do not currently view as, but in the future may become, material to our business or operating results. Due to these and other possible uncertainties and risks, readers are cautioned not to place undue reliance on the forward-looking statements contained in this report, which speak only as of today’s date, or to make predictions based solely on historical financial performance. We also disclaim any obligation to update forward-looking statements contained in this report or in the above-referenced reports, whether as a result of new information, future events or otherwise, except as may be required by law or NASDAQ rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230312005037/en/

Investor and Media Contact:

Shannon Wherry

Director of Corporate Communications

[email protected]

(469) 638-9642

KEYWORDS: Texas United States North America

INDUSTRY KEYWORDS: Banking Asset Management Professional Services Finance

MEDIA:

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All Three Leading Independent Proxy Advisory Firms Recommend Nano Dimension Shareholders Support Murchinson’s Four Proposals – Including Removing Yoav Stern From the Board

ISS, and Now Also Glass Lewis and Egan-Jones, Each Advise Shareholders to Vote FOR the Appointment of Kenneth H. Traub and Dr. Joshua Rosensweig and to REMOVE Incumbent Directors Stern, Gera, Rotem and Nissan-Cohen

Glass Lewis Concludes There is a “Strong Case” For the Removal of Chairman and CEO Yoav Stern and That Recent Unsolicited Offer to Stratasys is a Potential “Last Ditch Effort” by the Board

Egan-Jones Finds That the Current Board Under Stern Has Demonstrated “Faulty Oversight” and That Murchinson’s Nominees Will Help “Restore Investor Confidence”

ISS States That Mr. Stern is “At the Center” of the Underperformance and Governance Concerns, Supporting Murchinson’s “Compelling Case for Change”

Shareholders Should Follow Leading Independent Proxy Advisory Firms’ Recommendations and Act Now to Vote Before the Cut-Off Date for ADS Holders of 12:00 p.m. ET on March 13, 2023

TORONTO–(BUSINESS WIRE)–
Murchinson Ltd. (collectively with its affiliates and funds it advises and/or sub-advises, “Murchinson” or “we”), the largest shareholder with approximately 5.2% of the outstanding shares of Nano Dimension Ltd. (NASDAQ: NNDM) (“Nano Dimension” or the “Company”), today announced that two more leading independent proxy advisory firms, Glass Lewis & Co. (“Glass Lewis”) and Egan-Jones Ratings Company (“Egan-Jones”), have joined Institutional Shareholder Services Inc. (“ISS”) in recommending that shareholders vote to support all four of Murchinson’s proposals, including the appointment of Murchinson’s two experienced independent nominees and the removal of four sitting directors – including Chairman and CEO Yoav Stern.

Murchinson stated: “This rare showing of unanimous support from all three proxy advisory firms leaves no room for doubt: significant change is needed at Nano Dimension, and it is needed now. Each of the objective, third-party expert firms also agreed that removing Chairman and CEO Yoav Stern was critical to reversing the trend of underperformance and terrible corporate governance that has plagued Nano Dimension. Notably, each of the proxy advisory firms highlighted the importance of urgency given the potential for near-term value destruction under a Board that has a track record of putting its own interests ahead of preserving shareholder value. We encourage our fellow shareholders to waste no time and vote today for all four of Murchinson’s proposals, including in favor of our independent nominees, who will bring the right experience and refreshed perspectives to the Nano Dimension boardroom.”

In reaching its conclusion that shareholders should support ALL of Murchinson’s proposals, Glass Lewis highlighted the Company’s poor performance and corporate governance failings: ¹

• “In sum, we believe the Dissident has presented several convincing arguments highlighting certain performance and governance concerns at the Company, which collectively are sufficient grounds constituting a case for board-level change at Nano Dimension.”

• “We believe the Dissident has provided a convincing case that the Company has underperformed recently, as evidenced by Nano Dimension’s strongly declined share price, negative enterprise value and discount to NAV per share.”

• “(W)e are concerned with the Company’s negative enterprise value for now over one year, which we believe indicates that shareholders effectively ascribe no value to the Company’s underlying business at present, with investors valuing the Company at less than its net cash balance.”

Regarding the incumbent directors targeted for removal and Murchinson’s independent nominees, Glass Lewis stated:

• “(A)s Chair of the board, we believe it is reasonable to target Mr. Stern, in particular, as being the most responsible member of the board for the Company’s general underperformance and other governance issues observed over the prior few years. Therefore, in light of the foregoing, we believe the Dissident has presented a strong case in favor of the removal of Mr. Stern from his role on the board.”

• “(W)e believe adequate rationale has been presented to warrant our support for the removal of Messrs. Stern, Gera, Rotem and Nissan-Cohen from the board, as well as the proposal to remove any directors which may be appointed by the board in advance of the meeting.”

• Commenting on the qualifications of Murchinson’s independent nominees, Glass Lewis states, “Mr. Traub appears to have substantial experience as a public company director and as Chair of multiple companies, some of which held operations in Israel, and Dr. Rosensweig appears to have held several high-level positions at Israeli companies, through which the Dissident claims they were able to make governance improvements and enhance shareholder value.”

Glass Lewis also addressed the recent hostile offer made by Nano Dimension to acquire Stratasys Ltd. (“Stratasys”):

• “Regarding the recent proposed takeover of Stratasys, without commenting on terms, we believe the timing of this move in light of the Dissident’s campaign reflects a potential last ditch effort by the board to demonstrate its efforts to effect a turnaround of the Company.”

• “(U)pon the announcement of the takeover bid, Stratasys’ share price rose by approximately 9.1% and Nano Dimension’s share price declined by approximately 10.6% by market close, potentially indicating dissatisfaction amongst Nano Dimension’s shareholders regarding certain aspects of the offer, including, but not limited to, structure, timing and offer price.”

In its report, Egan-Jones noted the Company’s alarming financial performance, poor governance and the culpability of the current Board under Mr. Stern: ²

• “We believe that Murchinson has presented a compelling case that there is an urgent need for change in Nano Dimension.”

• “We believe that the Company’s dissatisfactory financial performance, ill-advised acquisition and poor capital allocation as reflected in its stock price proves that the current board and leadership under Yoav Stern lack a sense of accountability and demonstrated faulty oversight of the Company. In our view, there’s no way to justify the alarming 77% drop in share price, which we believe if not enacted promptly, will lead to a continuous value destruction.”

• “We believe that the Company’s poor corporate governance practices…have [led] to an entrenched board which is the root cause of a problematic leadership.”

• “We believe that electing Murchinson’s nominees who are highly equipped with industry experience, skills and expertise for a sustainable value creation in the long-run will initiate the much needed change in the Company and will restore investor confidence as well.”

The positive recommendations from Glass Lewis and Egan-Jones follow the March 8, 2023, report from ISS, which highlighted a myriad of issues at the Company, including Nano Dimension’s significant underperformance and corporate governance concerns: ³

• “The company’s share price and operating performance, coupled with corporate governance deficiencies, indicate that change is necessary and that shareholders would benefit from enhanced independence on the board.”

• “Stern is at the center of the underperformance and corporate governance concerns underpinning the dissident’s compelling case for change.”

• “It appears that the market does not have faith in the company’s ability to build value through M&A, given NNDM currently trades at an enterprise value of approximately $(380) million and an approximate 40 percent discount to its cash per share.”

• Addressing the other three sitting directors, ISS notes, “Gera, Rotem, and Nissan-Cohen have contributed, alongside Stern, to many of the decisions that have led to this state of affairs.”

• In contrast, “Dissident nominees Traub and Rosensweig would increase the independence of the board, and they would bring public company director and corporate governance expertise.”

For more information – including on how to vote – shareholders should visit: www.SaveNanoDimension.com

Shareholders have the opportunity to vote at the upcoming Special General Meeting of Shareholders (the “Special Meeting”), in spite of the Company’s efforts to declare the meeting illegal. ADS holders should be mindful that all votes must be received by 12:00 p.m. E.T. on March 13, 2023, and, in any event, should correspond with their bank or broker to ensure their vote is counted.

Additional Information and Where to Find It

In connection with the Meeting, Murchinson will make available to the Company’s shareholders of record a proxy statement describing the various proposals to be voted upon at the Meeting, along with a proxy card or voting instruction form enabling them to indicate their vote on each matter. Murchinson has also furnished copies of the proxy statement, the proxy card and voting instruction form to the SEC as exhibits to the Schedule 13D amendment we filed with the SEC, which may be obtained for free from the SEC’s website at www.sec.gov, as well as at the following website: www.SaveNanoDimension.com.

About Murchinson

Founded in 2012 and based in Toronto, Canada, Murchinson is an alternative asset management firm that serves institutional investors, family offices and qualified clients. The firm has extensive experience capturing the best returning opportunities across global markets. Murchinson’s multi-strategy approach allows it to execute investments at all points in the market cycle with fluid allocation between strategies. Our team targets corporate action, distressed investing, private equity and structured finance situations, leveraging its broad market experience with a variety of specialized products and sophisticated hedging techniques to deliver alpha within a risk-averse mandate. Learn more at www.murchinsonltd.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking information within the meaning of applicable securities laws. In general, forward-looking information refers to disclosure about future conditions, courses of action, and events. All statements contained in this press release that are not clearly historical in nature or that necessarily depend on future events are forward‐looking, and the use of any of the words “anticipates”, “believes”, “expects”, “intends”, “plans”, “will”, “would”, and similar expressions are intended to identify forward-looking statements. These statements are based on current expectations of Murchinson and currently available information. Forward-looking statements are not guarantees of future performance, involve certain risks and uncertainties that are difficult to predict, and are based upon assumptions as to future events that may not prove to be accurate. Murchinson undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable securities legislation.

Disclaimer

The information contained or referenced herein is for information purposes only in order to provide the views of Murchinson and the matters which Murchinson believes to be of concern to shareholders described herein. The information is not tailored to specific investment objections, the financial situations, suitability, or particular need of any specific person(s) who may receive the information, and should not be taken as advice in considering the merits of any investment decision. The views expressed herein represent the views and opinions of Murchinson, whose opinions may change at any time and which are based on analyses of Murchinson and its advisors.

___________________________

¹ Permission to use quotes neither sought nor obtained. Emphasis added.

² Permission to use quotes neither sought nor obtained. Emphasis added.

³ Permission to use quotes neither sought nor obtained. Emphasis added.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230312005033/en/

Longacre Square Partners

Dan Zacchei / Greg Marose, 646-386-0091

[email protected] / [email protected]

or

Okapi Partners LLC

Bruce Goldfarb / Chuck Garske / Teresa Huang, 212-297-0720

[email protected]

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Asset Management Professional Services Finance

MEDIA:

Posted on March 12, 2023 3:08 pm

CapStar Issues Updated Financial Figures

Reiterates Strong Capital, Liquidity, and Asset Quality Position

NASHVILLE, Tenn., March 12, 2023 (GLOBE NEWSWIRE) — CapStar Financial Holdings, Inc. (Nasdaq: CSTR), a bank holding company with $3.1 billion in total assets, today reported updated unaudited financial figures and reiterated its strong financial position and well-diversified business mix in the wake of recent industry developments.

“While the events of the past week are unfortunate, the impacted institutions operated very unique business models which presented unique risks. CapStar is a conservative and well-diversified company with a history of solid performance and risk management. We target and maintain a diverse business mix of established, known customers that principally operate and live in our seven communities. Importantly, we have no deposits, loans, or equity investments related to cryptocurrency/digital-assets or fintech,” said Timothy K. Schools, President and Chief Executive Officer of CapStar. “We intentionally maintain a balanced and disciplined approach to capital, liquidity, asset quality, and earnings, which has proven to differentiate us during challenging operating environments. I am extremely proud of our employees who continue to provide outstanding service and assistance to customers as we all work together to navigate the current inflationary period.”

• CapStar’s wholly-owned subsidiary, CapStar Bank, operates a relationship-based business model offering traditional banking services to a geographically and industry-diversified mix of small to mid-sized businesses, their owners, professionals, individuals, and real estate investors;
• No depositor or industry comprises a significant portion of total deposits; as of year end, 53.7 percent of deposit accounts were less than $250,000, which would rank CapStar 8th best among the nation’s 100 largest banks and 2nd among the five largest Tennessee-based banks by total assets, and another approximate 14 percent of deposits were collateralized or otherwise insured;
• Investment securities accounted for 12.9 percent of total assets and nearly 100 percent were categorized as available-for-sale, with associated unrealized losses recorded in tangible common equity, as of February 28, 2023 with no sales, purchases, or material value differences since that date;
• Loans held for investment are principally to CapStar-led, established, in-market customers supported by strong collateral and or guarantees with geographic, industry, and size diversification;
• Capital remains strong with tangible common equity ratio and common equity tier 1 risk-based capital ratio, adjusted for unrealized investment security losses, of 9.8 and 10.5 percent respectively, each of which is in excess of regulatory guidelines for a “well-capitalized” institution as of February 28, 2023;
• Our liquidity position as of the close of business March 10, 2023 is:
  • Cash held on balance sheet of $140 million
  • Unpledged marketable investment securities of $175 million
  • Loans held for sale of $30 million
  • Brokered CD authorization of $541 million based on a self-established internal policy of 20% of total deposits with $165 million of remaining issuance capacity
  • Fully collateralized credit facility from the Federal Home Loan Bank of Cincinnati of $518 million with $487 million of remaining borrowing capacity
  • Fully collateralized credit facility from the Federal Reserve Bank of Atlanta of $316 million with $316 million of remaining borrowing capacity;
• Asset quality remains excellent;
• CapStar has Bauer Financial’s highest 5-star rating, indicating the Company is among the strongest banks in the nation.

For more information on CapStar’s financial position, review its Form 10-K for the period ended December 31, 2022 which can be found here.

ABOUT CAPSTAR FINANCIAL HOLDINGS, INC.

CapStar Financial Holdings, Inc. is a bank holding company headquartered in Nashville, Tennessee and operates primarily through its wholly owned subsidiary, CapStar Bank, a Tennessee-chartered state bank. CapStar Bank is a commercial bank that seeks to establish and maintain comprehensive relationships with its clients by delivering customized and creative banking solutions and superior client service. As of December 31, 2022, on a consolidated basis, CapStar had total assets of $3.1 billion, total loans of $2.3 billion, total deposits of $2.7 billion, and shareholders’ equity of $354.2 million. Visit www.capstarbank.com for more information.

For more information, contact:
Michael J. Fowler
Chief Financial Officer
(615) 732-7404

Posted on March 12, 2023 1:52 pm

WalkMe Confirms No Material Exposure to Silicon Valley Bank Shutdown

SAN FRANCISCO, March 12, 2023 (GLOBE NEWSWIRE) — WalkMe Ltd. (NASDAQ: WKME), a leading provider of digital adoption solutions, today released the following statement in response to the shutdown of Silicon Valley Bank:

As of December 31, 2022, WalkMe had approximately $304.9 million in cash, cash equivalents, bank deposits and marketable securities. Today, a small portion of the Company’s cash and bank deposits, approximately $17 million, is held with Silicon Valley Bank of Santa Clara, California (“SVB”). WalkMe also had a $50 million revolving credit facility with SVB, but that facility was unutilized. SVB is not a customer of WalkMe.

The SVB closure has no material impact on WalkMe’s liquidity or day to day operations. The Company’s cash and cash equivalents, bank deposits and marketable securities are held with a diversified portfolio of financial institutions and are sufficient to support its ongoing operations.

About WalkMe

WalkMe’s cloud-based Digital Adoption Platform enables organizations to measure, drive and act to ultimately accelerate their digital transformations and better realize the value of their software investments. Our platform leverages proprietary technology to provide visibility to an organization’s Chief Information Officer and business leaders, while improving user experience, productivity and efficiency for employees and customers. Alongside walkthroughs and third-party integration capabilities, our platform can be customized to fit an organization’s needs.

Special
Note Regarding
Forward-Looking
Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding the Company’s future financial results and expectations regarding its liquidity and capital requirements and any impact of the SVB relationship on the Company’s operations are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “could,” “would,” “project,” “plan,” “target,” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the following: our ability to manage our growth effectively, sustain our historical growth rate in the future or achieve or maintain profitability; the impact of the COVID-19 pandemic or adverse macro-economic changes on our business, financial condition and results of operations; the growth and expansion of the markets for our offerings and our ability to adapt and respond effectively to evolving market conditions; our estimates of, and future expectations regarding, our market opportunity; our ability to keep pace with technological and competitive developments and develop or otherwise introduce new products and solutions and enhancements to our existing offerings; our ability to maintain the interoperability of our offerings across devices, operating systems and third-party applications and to maintain and expand our relationships with third-party technology partners; the effects of increased competition in our target markets and our ability to compete effectively; our ability to attract and retain new customers and to expand within our existing customer base; the success of our sales and marketing operations, including our ability to realize efficiencies and reduce customer acquisition costs; the percentage of our remaining performance obligations that we expect to recognize as revenue; our ability to meet the service-level commitments under our customer agreements and the effects on our business if we are unable to do so; our relationships with, and dependence on, various third-party service providers; our dependence on our management team and other key employees; our ability to maintain and enhance awareness of our brand; our ability to offer high quality customer support; our ability to effectively develop and expand our marketing and sales capabilities; our ability to maintain the sales prices of our offerings and the effects of pricing fluctuations; the sustainability of, and fluctuations in, our gross margin; risks related to our international operations and our ability to expand our international business operations; the effects of currency exchange rate fluctuations on our results of operations; challenges and risks related to our sales to government entities; our ability to consummate acquisitions at our historical rate and at acceptable prices, to enter into other strategic transactions and relationships, and to manage the risks related to these transactions and arrangements; our ability to protect our proprietary technology, or to obtain, maintain, protect and enforce sufficiently broad intellectual property rights therein; our ability to maintain the security and availability of our platform, products and solutions; our ability to comply with current and future legislation and governmental regulations to which we are subject or may become subject in the future; changes in applicable tax law, the stability of effective tax rates and adverse outcomes resulting from examination of our income or other tax returns; risks related to political, economic and security conditions in Israel; the effects of unfavorable conditions in our industry or the global economy or reductions in information technology spending; factors that may affect the future trading prices of our ordinary shares; and other risk factors set forth in the section titled “Risk Factors” in our Annual Report on form 20-F filed with the Securities and Exchange Commission on March 24, 2022, and other documents filed with or furnished to the SEC. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Media Contact:

Christina Knittel
[email protected]

Investor Contact:

John Streppa
[email protected]

 

Posted on March 12, 2023 12:08 pm

Vasta Platform Limited to Report Fourth Quarter and Full Year 2022 Financial Results on March 23, 2023

Vasta Platform Limited to Report Fourth Quarter and Full Year 2022 Financial Results on March 23, 2023

SÃO PAULO–(BUSINESS WIRE)–
Vasta Platform Limited (NASDAQ: VSTA) today announces that it will report fourth quarter and full year 2022 financial results for the period ended December 31, 2022, after the market closes on Thursday, March 23, 2023.

The Company will host a corresponding conference call and webcast on the same day, March 23, at 5:00 p.m. Eastern time. Investors may listen to the conference call (ID: 3871721) by dialing 1 (888) 660-6819 or 1 (929) 203-1989. Brazil dial-in options are also available by dialing 55 (11) 4210-6701 or 55 800 591-2026 A live and archived webcast of the call will be available on the Investor Relations section of the Company’s website at https://ir.vastaplatform.com.

About Vasta

Vasta is a leading, high-growth education company in Brazil powered by technology, providing end-to-end educational and digital solutions that cater to all needs of private schools operating in the K-12 educational segment, ultimately benefiting all of Vasta’s stakeholders, including students, parents, educators, administrators, and private school owners. Vasta’s mission is to help private K-12 schools to be better and more profitable, supporting their digital transformation. Vasta believes it is uniquely positioned to help schools in Brazil undergo the process of digital transformation and bring their education skill-set to the 21st century. Vasta promotes the unified use of technology in K-12 education with enhanced data and actionable insight for educators, increased collaboration among support staff and improvements in production, efficiency and quality. For more information, please visit ir.vastaplatform.com.

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Investor Relations

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KEYWORDS: New York United States South America North America Brazil

INDUSTRY KEYWORDS: Preschool Software Continuing Technology University Primary/Secondary Education Training

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