Market Newsdesk

Metals Acquisition Corp Shareholders Approve Proposed Business Combination to Acquire the CSA Mine and Proposed Merger With Metals Acquisition Limited

Transaction Expected to Close on June 15, 2023

GRAND CAYMAN, Cayman Islands–(BUSINESS WIRE)–Metals Acquisition Corp (NYSE: MTAL) (“MAC” or the “Company”) today announced that MAC’s shareholders voted to approve, among other things: (i) its proposed business combination (the “Business Combination”) to acquire from Glencore Operations Australia Pty Limited 100% of the issued share capital of Cobar Management Pty. Limited (“CMPL”), which owns and operates the Cornish, Scottish and Australian mine (the “CSA Mine”); and (ii) its proposed merger (the “Merger”) with Metals Acquisition Limited (“MAC Limited”) to occur immediately prior to the Business Combination.

The vast majority of the votes cast at the meeting voted to approve the Business Combination and the Merger.

MAC Limited will be continuing as the surviving company following the Merger (MAC Limited following the Merger is referred to as “New MAC”). The Business Combination is scheduled to close on June 15, 2023. As a result of the Business Combination, CMPL will become a wholly-owned indirect subsidiary of New MAC. The common stock and warrants of New MAC are set to begin trading on the New York Stock Exchange on June 16, 2023 under the ticker symbols, “MTAL” and “MTAL.WS”, respectively.

The formal results of the vote will be included in a Current Report on Form 8-K to be filed by MAC with the Securities and Exchange Commission.

About Metals Acquisition Corp

MAC was formed as a blank check company for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company is led by Mick McMullen (Chief Executive Officer), Jaco Crouse (Chief Financial Officer) and Dan Vujcic (Chief Development Officer). The Company is focused on green-economy metals and mining businesses in high quality, stable jurisdictions.

Forward-Looking Statements

This press release includes “forward-looking statements.” MAC’s actual results may differ from expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward- looking statements. These forward-looking statements include, without limitation, MAC’s expectations with respect to future performance of the CSA Mine and anticipated financial impacts and other effects of the proposed Business Combination, the satisfaction of the closing conditions to the proposed transaction and the timing of the completion of the proposed transaction. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside MAC’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the occurrence of any event, change, or other circumstances that could give rise to the termination of the Share Sale Agreement; the outcome of any legal proceedings that may be instituted against MAC following the announcement of the Share Sale Agreement dated as of March 17, 2022 (as amended by the Deed of Consent and Covenant dated as of November 22, 2022, as supplemented by the CMPL Share Sale Agreement Side Letter, dated as of April 21, 2023, as further supplemented by the CMPL Share Sale Agreement Side Letter, dated May 31, 2023 and as further supplemented by the CMPL Share Sale Agreement Side Letter, dated June 2, 2023 (the “Share Sale Agreement”)); the inability to complete the proposed transaction, including due to failure to obtain financing, approval of the shareholders of MAC, certain regulatory approvals, or satisfy other conditions to closing in the Share Sale Agreement; the occurrence of any event, change, or other circumstance that could give rise to the termination of the Share Sale Agreement, or could otherwise cause the transaction to fail to close MAC’s inability to secure the expecting financing for the consideration under the Share Sale Agreement; the inability to obtain or maintain the listing of MAC’s shares following the proposed transaction; the risk that the proposed transaction disrupts current plans and operations as a result of the announcement and consummation of the proposed Business Combination; the ability to recognize the anticipated benefits of the proposed Business Combination, which may be affected by, among other things; the supply and demand for copper; the future price of copper; the timing and amount of estimated future production, costs of production, capital expenditures and requirements for additional capital; cash flow provided by operating activities; unanticipated reclamation expenses; claims and limitations on insurance coverage; the uncertainty in mineral resource estimates; the uncertainty in geological, metallurgical and geotechnical studies and opinions; infrastructure risks; and dependence on key management personnel and executive officers; and other risks and uncertainties indicated from time to time in the final prospectus of MAC for its initial public offering and the definitive proxy statement/prospectus relating to the proposed Business Combination that MAC filed with the SEC, including those under “Risk Factors” therein, and in MAC’s other filings with the SEC. MAC cautions that the foregoing list of factors is not exclusive. MAC cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. MAC does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

More information on potential factors that could affect MAC’s or CSA Mine’s financial results is included from time to time in MAC’s public reports filed with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K as well as the definitive proxy statement/prospectus MAC filed with the SEC in connection with MAC’s solicitation of proxies for the meeting of shareholders to be held to approve, among other things, the proposed Business Combination. If any of these risks materialize or MAC’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that MAC does not presently know, or that MAC currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect MAC’s expectations, plans or forecasts of future events and views as of the date of this communication. MAC anticipates that subsequent events and developments will cause its assessments to change. However, while MAC may elect to update these forward-looking statements at some point in the future, MAC specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing MAC’s assessment as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Participants in the Solicitation

MAC and its directors and executive officers may be deemed participants in the solicitation of proxies from MAC’s shareholders with respect to the Business Combination. MAC stockholders and other interested persons may obtain, without charge, more detailed information regarding the directors and officers of MAC in MAC’s final prospectus for its initial public offering and the definitive proxy statement/prospectus relating to the proposed Business Combination filed with the SEC. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to MAC’s shareholders in connection with the proposed business combination is set forth in the definitive proxy statement/prospectus for the proposed Business Combination. Additional information regarding the interests of participants in the solicitation of proxies in connection with the proposed business combination is included in the definitive proxy statement/prospectus filed with the SEC.

No Offer or Solicitation

This press release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed Business Combination. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230605005839/en/

Mick McMullen

Chief Executive Officer

Metals Acquisition Corp

+1 (817) 698-9901

Dan Vujcic

Chief Development Officer

Metals Acquisition Corp

+61 451 634 120

KEYWORDS: Caribbean Australia Cayman Islands North America Canada United States Africa Australia/Oceania

INDUSTRY KEYWORDS: Other Energy Natural Resources Finance Energy Banking Professional Services Other Natural Resources Mining/Minerals

MEDIA:

Logo

Old Dominion Freight Line Provides Update for Second Quarter 2023

THOMASVILLE, N.C.–(BUSINESS WIRE)–
Old Dominion Freight Line, Inc. (Nasdaq: ODFL) today reported certain less-than-truckload (“LTL”) operating metrics for May 2023. Revenue per day decreased 15.7% as compared to May 2022 primarily due to a 14.4% decrease in LTL tons per day. The change in LTL tons per day was attributable to an 11.4% decrease in LTL shipments per day and a 3.4% decrease in LTL weight per shipment. For the quarter-to-date period, LTL revenue per hundredweight and LTL revenue per hundredweight, excluding fuel surcharges, increased 0.1% and 7.9%, respectively, as compared to the same period last year.

Greg C. Gantt, President and Chief Executive Officer of Old Dominion, commented, “Old Dominion’s revenue results for May reflect continued softness in the domestic economy as well as a decrease in fuel surcharge revenue. While our volumes decreased on a year-over-year basis, our LTL shipments per day remained relatively consistent with the first quarter of 2023 and our yield continued to improve.

“Our quarter-to-date LTL revenue per hundredweight, excluding fuel surcharges, increased 7.9% due primarily to the ongoing execution of our yield-management strategy. We remain focused on delivering superior service at a fair price to support our consistent, cost-based approach to managing yields, despite the year-over-year decrease in volumes. As we continue to deliver our unmatched value proposition, and consistently execute on the other key elements of our long-term strategic plan, we believe we will win market share and increase shareholder value over the long term.”

Forward-looking statements in this news release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We caution the reader that such forward-looking statements involve risks and uncertainties that could cause actual events and results to be materially different from those expressed or implied herein, including, but not limited to, the following: (1) the challenges associated with executing our growth strategy, and developing, marketing and consistently delivering high-quality services that meet customer expectations; (2) various risks related to health epidemics, pandemics and similar outbreaks; (3) changes in our relationships with significant customers; (4) our exposure to claims related to cargo loss and damage, property damage, personal injury, workers’ compensation and healthcare, increased self-insured retention or deductible levels or premiums for excess coverage, and claims in excess of insured coverage levels; (5) the availability and cost of equipment and parts, including regulatory changes and supply constraints that could impact the cost of these assets; (6) increased costs, beyond what we may be able to recover through price increases, including as a result of inflation; (7) the availability and cost of suitable real estate; (8) the availability and cost of third-party transportation used to supplement our workforce and equipment needs; (9) the availability and price of diesel fuel and our ability to collect fuel surcharges, as well as the effectiveness of those fuel surcharges in mitigating the impact of fluctuating prices for diesel fuel and other petroleum-based products; (10) seasonal trends in the less-than-truckload (“LTL”) industry, including harsh weather conditions and disasters; (11) the availability and cost of capital for our significant ongoing cash requirements; (12) decreases in demand for, and the value of, used equipment; (13) our ability to successfully consummate and integrate acquisitions; (14) the costs and potential liabilities related to our international business relationships; (15) the costs and potential adverse impact of compliance with anti-terrorism measures on our business; (16) the competitive environment with respect to our industry, including pricing pressures; (17) various economic factors such as recessions, inflation, downturns in the economy, global uncertainty and instability, changes in international trade policies, changes in U.S. social, political, and regulatory conditions or a disruption of financial markets, which may decrease demand for our services or increase our costs; (18) the negative impact of any unionization, or the passage of legislation or regulations that could facilitate unionization, of our employees; (19) increases in the cost of employee compensation and benefit packages used to address general labor market challenges and to attract or retain qualified employees, including drivers and maintenance technicians; (20) our ability to retain our key employees and continue to effectively execute our succession plan; (21) potential costs and liabilities associated with cyber incidents and other risks with respect to our information technology systems or those of our third-party service providers, including system failure, security breach, disruption by malware or ransomware or other damage; (22) the failure to adapt to new technologies implemented by our competitors in the LTL and transportation industry, which could negatively affect our ability to compete; (23) the failure to keep pace with developments in technology, any disruption to our technology infrastructure, or failures of essential services upon which our technology platforms rely, which could cause us to incur costs or result in a loss of business; (24) disruption in the operational and technical services (including software as a service) provided to us by third parties, which could result in operational delays and/or increased costs; (25) the Compliance, Safety, Accountability initiative of the Federal Motor Carrier Safety Administration (“FMCSA”), which could adversely impact our ability to hire qualified drivers, meet our growth projections and maintain our customer relationships; (26) the costs and potential adverse impact of compliance with, or violations of, current and future rules issued by the Department of Transportation, the FMCSA and other regulatory agencies; (27) the costs and potential liabilities related to compliance with, or violations of, existing or future governmental laws and regulations, including environmental laws; (28) the effects of legal, regulatory or market responses to climate change concerns; (29) the increase in costs associated with healthcare legislation and other mandated benefits; (30) the costs and potential liabilities related to legal proceedings and claims, governmental inquiries, notices and investigations; (31) the impact of changes in tax laws, rates, guidance and interpretations; (32) the concentration of our stock ownership with the Congdon family; (33) the ability or the failure to declare future cash dividends; (34) fluctuations in the amount and frequency of our stock repurchases; (35) volatility in the market value of our common stock; (36) the impact of certain provisions in our articles of incorporation, bylaws, and Virginia law that could discourage, delay or prevent a change in control of us or a change in our management; and (37) other risks and uncertainties described in our most recent Annual Report on Form 10-K and other filings with the SEC. Our forward-looking statements are based upon our beliefs and assumptions using information available at the time the statements are made. We caution the reader not to place undue reliance on our forward-looking statements as (i) these statements are neither a prediction nor a guarantee of future events or circumstances and (ii) the assumptions, beliefs, expectations and projections about future events may differ materially from actual results. We undertake no obligation to publicly update any forward-looking statement to reflect developments occurring after the statement is made, except as otherwise required by law.

Old Dominion Freight Line, Inc. is one of the largest North American LTL motor carriers and provides regional, inter-regional and national LTL services through a single integrated, union-free organization. Our service offerings, which include expedited transportation, are provided through an expansive network of service centers located throughout the continental United States. The Company also maintains strategic alliances with other carriers to provide LTL services throughout North America. In addition to its core LTL services, the Company offers a range of value-added services including container drayage, truckload brokerage and supply chain consulting.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230605005867/en/

Adam N. Satterfield

Senior Vice President, Finance and Chief Financial Officer

(336) 822-5721

KEYWORDS: United States North America North Carolina

INDUSTRY KEYWORDS: Trucking Rail Transport Logistics/Supply Chain Management

MEDIA:

Logo

EVI Industries Completes Acquisition of Express Parts and Services

MIAMI, Florida–(BUSINESS WIRE)–
EVI Industries, Inc. (NYSE American: “EVI” or the “Company”) announced today that it simultaneously executed a definitive asset purchase agreement and completed the acquisition of Express Parts and Services (“EXP”), a distributor of commercial laundry products and a provider of related technical installation and maintenance services based in Sykesville, Maryland. The addition of EXP increases EVI’s presence and market share in the state of Maryland and will enable the Company to provide increased customer service throughout the region.

Henry M. Nahmad, EVI’s Chairman and Chief Executive Officer, commented: “We believe that each acquisition is integral to achieving our long-term growth goal to build North America’s largest value-added distributor of commercial laundry and related products and the most dynamic network of commercial laundry technicians through which we may best support commercial laundry customers. We are pleased to welcome Max Usik and the EXP team to the EVI family and look forward to working together in pursuit of our long-term growth goals.”

EVI’s Buy and Build Philosophy

Key components of EVI’s buy-and-build strategy include:

• Identify and partner with great businesses led by influential leaders,

• Retain the leadership team, honor the company culture and empower them,

• Pursue aggressive growth plans and help the leadership team achieve their goals,

• Create an ownership culture by motivating the team with long-term equity, and

• Collaborate on new and transformative ideas to foster a spirit of growth and innovation.

Mr. Nahmad commented: “The thoughtful execution of our buy-and-build growth strategy has earned us a positive reputation in and around the commercial laundry industry, including among owners of quality businesses. We remain very active in the pursuit of additional investments in other great businesses and given our record, reputation, and appetite for significant growth, EVI is well-positioned to capitalize on a growing number of opportunities.”

About EVI Industries

EVI Industries, Inc., through its wholly owned subsidiaries, is a value-added distributor and a provider of advisory and technical services. Through its vast sales organization, the Company provides its customers with planning, designing, and consulting services related to their commercial laundry operations. The Company sells and/or leases its customers commercial laundry equipment, specializing in washing, drying, finishing, material handling, water heating, power generation, and water reuse applications. In support of the suite of products it offers, the Company sells related parts and accessories. Additionally, through the Company’s robust network of commercial laundry technicians, the Company provides its customers with installation, maintenance, and repair services. The Company’s customers include retail, commercial, industrial, institutional, and government customers. Purchases made by customers range from parts and accessories to single or multiple units of equipment, to large complex systems as well as the purchase of the Company’s installation, maintenance, and repair services.

Forward-Looking Statements

Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to a number of known and unknown risks and uncertainties that may cause actual results, trends, performance or achievements of EVI Industries, or industry trends and results, to differ from the future results, trends, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, among others, that the acquisition of EXP may not be accretive to EVI Industries earnings or otherwise have a positive impact on EVI Industries operating results or financial condition to the extent anticipated or at all, integration risks, risks related to the business, operations, and prospects of EXP and EVI Industries plans with respect thereto. Reference is also made to other economic, competitive, governmental, technological and other risks and factors discussed in EVI Industries filings with the Securities and Exchange Commission, including, without limitation, those disclosed in the “Risk Factors” section of EVI Industries Annual Report on Form 10-K for the fiscal year ended June 30, 2022, filed with the SEC on September 13, 2022, as amended by its Annual Report on Form 10-K/A for the fiscal year ended June 30, 2022, filed with the SEC on October 28, 2022. Many of these risks and factors are beyond EVI Industries control. In addition, past performance and perceived trends may not be indicative of future results. EVI Industries cautions that the foregoing factors are not exclusive. The reader should not place undue reliance on any forward-looking statement, which speaks only as of the date made. EVI Industries does not undertake to, and specifically disclaims any obligation to, update or supplement any forward-looking statement, whether as a result of changes in circumstances, new information, subsequent events or otherwise, except as may be required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230605005838/en/

EVI Industries, Inc.

Henry M. Nahmad

(305) 402-9300

Investor Relations

(305) 402-9300

[email protected]

KEYWORDS: Florida United States North America

INDUSTRY KEYWORDS: Professional Services Other Construction & Property Manufacturing Construction & Property Building Systems Consulting Machinery

MEDIA:

Posted on June 5, 2023 5:03 pm

LTC Closes $61.5 Million in New Investments; Transitions Eight-Property Portfolio

LTC Closes $61.5 Million in New Investments; Transitions Eight-Property Portfolio

WESTLAKE VILLAGE, Calif.–(BUSINESS WIRE)–LTC Properties, Inc. (NYSE: LTC) (“LTC” or the “Company”) a real estate investment trust that primarily invests in seniors housing and health care properties, today announced it has invested a total of $61.5 million in two transactions, and completed the previously disclosed transition of a portfolio of eight assisted living communities to an existing LTC operator.

The investments include LTC’s $45.0 million investment in a $54.1 million joint venture acquisition of a seniors housing campus, and a $16.5 million investment in a skilled nursing center, as follows:

Joint Venture: $45.0 million joint venture investment for the purchase of an independent living, assisted living and memory care campus in Ohio. The campus was built between 2019 and 2022, includes a total of 242 units, and is now operated by current LTC partner, Encore Senior Living (“Encore”). Additionally, the transaction includes a $2.1 million lease incentive. The lease term is 10 years at an initial yield of 8.25%, and includes a purchase option for the seller during the third and fourth lease years, with an exit IRR of 9.75%. Rent is expected to be approximately $3.9 million per year.

Senior Loan: $16.5 million senior loan origination for the purchase of a skilled nursing center in Illinois. The center, which was built in 2010 and extensively renovated in 2021, is licensed for 150 beds and is now operated by current LTC partner, Ignite Medical Resorts. The loan term is five years at an interest rate of 8.75%.

Transitioned Portfolio: As previously detailed in the Company’s 2023 first quarter earnings conference call, LTC transitioned a portfolio of eight assisted living communities with 500 units in Illinois, Ohio and Michigan to Encore. LTC had been providing assistance to the former operator of this portfolio and as part of the transition, LTC received repayment of approximately $1.3 million of deferred rent previously not recorded. Cash rent under the two-year lease is based on mutually agreed upon fair market rent beginning in month four of the lease.

“LTC has been very active this year, investing more than $240 million year-to-date, our largest investment year since 2015, and transitioning challenged properties to strengthen our portfolio,” said Wendy Simpson, LTC’s Chairman and CEO. “Making incremental investments with existing partners allows us to work with growth-minded operators who we know and respect, while investing in newer assets allows us to further reduce the average age of our portfolio. These efforts should serve us well over the long-term as we work to reinforce LTC’s position as a REIT partner of choice for the seniors housing and care market.”

About LTC

LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC’s investment portfolio includes 212 properties in 29 states with 31 operating partners. Based on its gross real estate investments, LTC’s investment portfolio is comprised of approximately 50% seniors housing and 50% skilled nursing properties. Learn more at www.LTCreit.com.

Forward-Looking Statements

This press release includes statements that are not purely historical and are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the Company’s expectations, beliefs, intentions or strategies regarding the future. All statements other than historical facts contained in this press release are forward-looking statements. These forward-looking statements involve a number of risks and uncertainties. Please see LTC’s most recent Annual Report on Form 10-K, its subsequent Quarterly Reports on Form 10-Q, and its other publicly available filings with the Securities and Exchange Commission for a discussion of these and other risks and uncertainties. All forward-looking statements included in this press release are based on information available to the Company on the date hereof, and LTC assumes no obligation to update such forward-looking statements. Although the Company’s management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. The actual results achieved by the Company may differ materially from any forward-looking statements due to the risks and uncertainties of such statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230605005865/en/

For more information contact:

Mandi Hogan

(805) 981-8655

KEYWORDS: United States North America Ohio Illinois California Michigan

INDUSTRY KEYWORDS: Professional Services Consumer Residential Building & Real Estate Asset Management Commercial Building & Real Estate Hospitals Construction & Property Nursing Seniors REIT Finance Health

MEDIA:

Logo

Astronics EmPower^® UltraLite G2 Power System for Passenger In-Seat Power on Commercial Aircraft Revolutionizes Cabin Power

• Global leader in passenger power for commercial airlines has received commitments to install system on over 1,100 aircraft worldwide
• 30% to 40% lighter weight solution supports efforts to reduce carbon emissions

EAST AURORA, N.Y.–(BUSINESS WIRE)–Astronics Corporation (Nasdaq: ATRO), a leading provider of advanced technologies for global aerospace, defense and other mission critical industries, announced today that since launching the EmPower^® UltraLite G2 Power System , it has received commitments from more than a dozen airlines to install the system on over 1,100 narrow body aircraft. As the industry’s most powerful and intelligent cabin power system for charging passenger electronic devices, the EmPower Ultralite G2 was launched at the2022 Aircraft Interiors show in Hamburg. Installations are planned for the next three years and commitments received to date include options for several hundred more aircraft.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230605005814/en/

“The level of enthusiasm, trust, and commitment our customers have placed in Astronics reinforces that we are delivering exceptional solutions tailored for each airline,” says Jon Neal, President of Astronics Advanced Electronic Systems. “We’re thrilled to be partnering with these airlines on both new deliveries and cabin upgrade programs that will enhance the passenger experience.”

Well-suited for retrofit and also offerable for linefit applications, the UltraLite G2 system uses a distributed zonal architecture, leveraging 800W power supplies with greater than 93% efficiency and system intelligence at the seat. As a result, the system can provide up to 60W of power at every seat with a combination of USB Type A and the latest USB Type C outlets. This allows maximum flexibility and airline customization, all while reducing overall system and per seat weight by 30% to 40% when compared with other power solutions installed and flying in the market today.

“As airlines strive to reduce their environmental impact, we are excited to empower them with a transformative solution that not only provides industry-leading power at each seat, but also weighs significantly less, which helps contribute to a greener and more sustainable future for our industry,” stated Peter Gundermann, Chairman, President and CEO of Astronics.

Astronics remains committed to its customer centric focus and vision. This includes its passionate support in helping hundreds of airline customers and their partners advance their aerospace carbon neutrality initiatives.

About Astronics Corporation

Astronics Corporation (Nasdaq: ATRO) serves the world’s aerospace, defense, and other mission critical industries with proven, innovative technology solutions. Astronics works side-by-side with customers, integrating its array of power, connectivity, lighting, structures, interiors, and test technologies to solve complex challenges. For over 50 years, Astronics has delivered creative, customer-focused solutions with exceptional responsiveness. Today, global airframe manufacturers, airlines, militaries, completion centers and Fortune 500 companies rely on the collaborative spirit and innovation of Astronics. The Company’s strategy is to increase its value by developing technologies and capabilities that provide innovative solutions to its targeted markets.

For more information on Astronics and its solutions, visit Astronics.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230605005814/en/

Company:

Astronics Corporation

Dennis Markert, Director of Business Development for Astronics AES

+1.425.442.8195

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Aerospace Technology Manufacturing Air Batteries Transport Other Technology Other Manufacturing Other Defense Defense Hardware

MEDIA:

Logo

Photo

Astronics’ 30% to 40% lighter weight EmPower® UltraLite G2 passenger power system provides industry leading power with less weight to help reduce carbon emissions.

J.B. Hunt Transport Services, Inc. Announces Participation in the Upcoming 2023 Wells Fargo Industrials Conference

LOWELL, Ark.–(BUSINESS WIRE)–
J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) President Shelley Simpson, Chief Operating Officer and President of Contract Services Nick Hobbs, and Executive Vice President of Highway Services Eric McGee will address the 2023 Wells Fargo Industrials Conference at 8:45 a.m. CDT on June 14, 2023.

Investors may access the live presentations by visiting the Investor Relations section of our website. A presentation replay will also be available on J.B. Hunt’s website following the event.

Information presented at the conference may contain forward-looking statements made by the company that involve risks, assumptions, and uncertainties difficult to predict. Actual results may differ materially from those currently anticipated due to a number of factors, including, but not limited to, those discussed in Item 1A of our Annual Report filed on Form 10-K for the year ended December 31, 2022. J.B. Hunt assumes no obligation to update any forward-looking statements to the extent the company becomes aware they will not be achieved for any reason.

Interested parties may view this press release on the company’s website.

About J.B. Hunt

J.B. Hunt Transport Services Inc. is on a mission to create the most efficient transportation network in North America. The company’s industry-leading solutions and mode-neutral approach generate value for customers by eliminating waste, reducing costs and enhancing supply chain visibility. Powered by one of the largest company-owned fleets in the country with more than 162,000 pieces of trailing equipment and nearly one million accessible trucks through its J.B. Hunt 360°® digital freight marketplace, J.B. Hunt can meet the unique shipping needs of any business, from first mile to final delivery, and every shipment in-between. Through disciplined investments in its people, technology and capacity, J.B. Hunt is delivering exceptional value and service that enable long-term growth for the company and its stakeholders.

J.B. Hunt Transport Services Inc. is a Fortune 500 company, an S&P 500 company and a component of the Dow Jones Transportation Average. Its stock trades on NASDAQ under the ticker symbol JBHT. J.B. Hunt Transport Inc. is a wholly owned subsidiary of JBHT. The company’s services include intermodal, dedicated, refrigerated, truckload, less-than-truckload, flatbed, single source, last mile, transload and more. For more information, visit www.jbhunt.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230605005854/en/

Brad Delco

Sr. Vice President – Finance

(479) 820-2723

KEYWORDS: Arkansas United States North America

INDUSTRY KEYWORDS: Other Transport Trucking Rail Maritime Finance Air Transport Banking Professional Services Logistics/Supply Chain Management

MEDIA:

Logo

Politan Comments on Masimo’s Recent Board Announcement

NEW YORK–(BUSINESS WIRE)–
Politan Capital Management (together with its affiliates, “Politan”), a 9% shareholder of Masimo Corporation (“Masimo” or the “Company”) (NASDAQ: MASI), today commented on the Company’s recent announcement that it would authorize expanding its Board and adding Politan nominee Michelle Brennan – contingent on the reelection of all incumbent Masimo directors at the upcoming Annual Meeting of Stockholders (the “Annual Meeting”).

Quentin Koffey, Managing Partner and Chief Investment Officer of Politan, stated:

“Meaningful change is clearly needed on Masimo’s Board. For years, Masimo has gone to extreme and well-documented lengths to avoid this occurring. Making Michelle’s appointment contingent on all incumbent directors being elected is not progress – it is yet another defensive maneuver to impede shareholder-driven change.

Michelle would be an exceptional addition to Masimo’s Board. Her deep expertise from decades spent in relevant roles at Johnson & Johnson, in addition to her experience as a public company director, make her an ideal fit to help Masimo. The opportunity to do so is why she is participating in this election. Michelle wants to be able to bring the type of positive, substantive improvement to the Company that has been outlined in Politan’s campaign and will only be possible with a real level of change.

If elected, Michelle and I will be fully committed from day one to working constructively alongside the other directors to further the best interests of the Company. While we unfortunately expect the emotive attacks from Masimo to continue leading up to the vote, we encourage shareholders to look past these unproductive distractions. We believe the facts and analysis we have presented – all of which are carefully supported – speak for themselves. We look forward to continuing to engage with our fellow shareholders in the weeks ahead.”

Politan encourages shareholders to review its presentation, proxy materials and letter to shareholders, all of which are available at www.AdvanceMasimo.com. Shareholders can support real change at Masimo by voting on the BLUE proxy card FOR the election of Michelle Brennan and Quentin Koffey.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

The information herein contains “forward-looking statements.” Specific forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and include, without limitation, words such as “may,” “will,” “expects,” “believes,” “anticipates,” “plans,” “estimates,” “projects,” “potential,” “targets,” “forecasts,” “seeks,” “could,” “should” or the negative of such terms or other variations on such terms or comparable terminology. Similarly, statements that describe our objectives, plans or goals are forward-looking. Forward-looking statements are subject to various risks and uncertainties and assumptions. There can be no assurance that any idea or assumption herein is, or will be proven, correct. If one or more of the risks or uncertainties materialize, or if Politan’s (defined below) underlying assumptions prove to be incorrect, the actual results may vary materially from outcomes indicated by these statements. Accordingly, forward-looking statements should not be regarded as a representation by Politan that the future plans, estimates or expectations contemplated will ever be achieved.

Certain statements and information included herein have been sourced from third parties. Politan does not make any representations regarding the accuracy, completeness or timeliness of such third-party statements or information. Except as may be expressly set forth herein, permission to cite such statements or information has neither been sought nor obtained from such third parties. Any such statements or information should not be viewed as an indication of support from such third parties for the views expressed herein.

CERTAIN INFORMATION CONCERNING THE PARTICIPANTS

Politan Capital Management LP (“Politan”) and the other Participants (as defined below) have filed a definitive proxy statement and accompanying BLUE universal proxy card with the Securities and Exchange Commission (the “SEC”) to be used to solicit proxies for, among other matters, the election of its slate of director nominees at the 2023 annual stockholders meeting (the “2023 Annual Meeting”) of Masimo Corporation, a Delaware corporation (“Masimo”).

The participants in the proxy solicitation are Politan, Politan Capital Management GP LLC, Politan Capital Partners GP LLC, Politan Capital NY LLC, Politan Intermediate Ltd., Politan Capital Partners Master Fund LP (“Politan Master Fund”), Politan Capital Partners LP (“Politan LP”), Politan Capital Offshore Partners LP (“Politan Offshore” and collectively with Politan Master Fund and Politan LP, the “Politan Funds”), Quentin Koffey, Matthew Hall, Aaron Kapito and Michelle Brennan (collectively, the “Participants”).

As of the date hereof, (i) Politan Master Fund directly owns 4,712,518 shares of common stock, par value $0.001 per share, of Masimo (the “Common Stock”), and (ii) Politan Capital NY LLC is the direct and record owner of 1,000 shares of Common Stock.

Politan, as the investment adviser to the Politan Funds, may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) 4,713,518 shares of Common Stock (the “Politan Shares”) and, therefore, Politan may be deemed to be the beneficial owner of all of the Politan Shares. The Politan Shares collectively represent approximately 8.9% of the outstanding shares of Common Stock based on 52,779,770 shares of Common Stock outstanding as of April 1, 2023, as reported in Masimo’s Quarterly Report on Form 10-Q filed on May 10, 2023. As the general partner of Politan, Politan Capital Management GP LLC may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) all of the Politan Shares and, therefore, Politan Capital Management GP LLC may be deemed to be the beneficial owner of all of the Politan Shares. As the general partner of the Politan Funds, Politan Capital Partners GP LLC may be deemed to have the shared power to vote or to direct the vote of (and the shared power to dispose or direct the disposition of) all of the Politan Shares and, therefore, Politan Capital Partners GP LLC may be deemed to be the beneficial owner of all of the Politan Shares. By virtue of Mr. Koffey’s position as the managing partner and chief investment officer of Politan and as the managing member of Politan Capital Management GP LLC and Politan Capital Partners GP LLC, Mr. Koffey may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) all of the Politan Shares and, therefore, Mr. Koffey may be deemed to be the beneficial owner of all of the Politan Shares. As of the date hereof, none of Mr. Hall, Mr. Kapito or Ms. Brennan own beneficially or of record any shares of Common Stock.

IMPORTANT INFORMATION AND WHERE TO FIND IT

POLITAN STRONGLY ADVISES ALL STOCKHOLDERS OF MASIMO TO READ THE DEFINITIVE PROXY STATEMENT, ANY AMENDMENTS OR SUPPLEMENTS TO SUCH PROXY STATEMENT AND OTHER PROXY MATERIALS FILED BY POLITAN WITH THE SEC AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC’S WEBSITE AT WWW.SEC.GOV. THE DEFINITIVE PROXY STATEMENT AND OTHER RELEVANT DOCUMENTS, ARE ALSO AVAILABLE ON WWW.ADVANCEMASIMO.COM AND THE SEC WEBSITE, FREE OF CHARGE, OR BY DIRECTING A REQUEST TO THE PARTICIPANTS’ PROXY SOLICITOR, D.F. KING & CO., INC., 48 WALL STREET, 22ND FLOOR, NEW YORK, NEW YORK 10005 (STOCKHOLDERS CAN CALL TOLL-FREE: +1 (866) 620-9554).

View source version on businesswire.com: https://www.businesswire.com/news/home/20230605005853/en/

Investor Contact

D.F. King & Co., Inc.

Edward McCarthy

[email protected]

Media Contact

Dan Zacchei / Joe Germani

Longacre Square Partners

[email protected] / [email protected]

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Asset Management Professional Services Finance

MEDIA:

Posted on June 5, 2023 4:43 pm

Spectrum Brands Receives Clearance from Mexico to Complete the Sale of HHI

Spectrum Brands Receives Clearance from Mexico to Complete the Sale of HHI

MIDDLETON, Wis.–(BUSINESS WIRE)–
Spectrum Brands Holdings, Inc. (NYSE: SPB, “Spectrum Brands” or the “Company”), a leading global branded consumer products and home essentials company focused on driving innovation and providing exceptional customer service, today announced that it has received clearance from the Mexican competition authority to sell the Company’s Hardware and Home Improvement segment (“HHI”) to ASSA ABLOY for $4.3 billion in cash, subject to customary adjustments.

The approval from the Mexican competition authority was the last regulatory approval required to complete this transaction. The closing of this transaction is subject to satisfaction of customary closing conditions. The Company continues to expect to close this transaction on or prior to June 30, 2023.

About Spectrum Brands

Spectrum Brands Holdings is a home-essentials company with a mission to make living better at home. We focus on delivering innovative products and solutions to consumers for use in and around the home through our trusted brands. We are a leading supplier of specialty pet supplies, lawn and garden and home pest control products, personal insect repellents, shaving and grooming products, personal care products, and small household appliances. Helping to meet the needs of consumers worldwide, Spectrum Brands offers a broad portfolio of market-leading, well-known and widely trusted brands including Tetra®, DreamBone®, SmartBones®, Nature’s Miracle®, 8-in-1®, FURminator®, Healthy-Hide®, Good Boy®, Meowee!®, OmegaOne®, Spectracide®, Cutter®, Repel®, Hot Shot®, Rejuvenate®, Black Flag®, Liquid Fence®, Remington®, George Foreman®, Russell Hobbs®, Black+Decker®, PowerXL®, Emeril Lagasse®, and Copper Chef®. For more information, please visit www.spectrumbrands.com. Spectrum Brands – A Home Essentials Company™.

Forward Looking Statements

Certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We have tried, whenever possible, to identify these statements by using words like “future,” “anticipate”, “intend,” “plan,” “estimate,” “believe,” “expect,” “project,” “forecast,” “could,” “would,” “should,” “will,” “may,” and similar expressions of future intent or the negative of such terms. These statements are based upon our current expectations of future events and projections and are subject to a number of risks and uncertainties, many of which are beyond our control and some of which may change rapidly, actual results or outcomes may differ materially from those expressed or implied herein, and you should not place undue reliance on these statements. Important factors and uncertainties that could cause our actual results to differ materially from those expressed or implied herein include, without limitation: (1) the risk that ASSA ABLOY and Fortune fail to satisfy the conditions to closing of the divestiture transaction and / or otherwise fail to consummate the divestiture transaction, (2) the ability to consummate the announced transaction on the expected terms and within the anticipated time period, or at all, which is dependent on the parties’ ability to satisfy certain closing conditions and our ability to realize the benefits of the transaction, including reducing the leverage of the Company, invest in the organic growth of the Company, fund any future acquisitions, returning capital to shareholders, and/or maintain its quarterly dividends; (3) the risk that regulatory approvals that are required to complete the proposed transaction may not be received, may take longer than expected or may impose adverse conditions; (4) our ability to realize the expected benefits of such transaction and to successfully separate the divested business; and (5) the other risk factors set forth in the securities filings of Spectrum Brands Holdings, Inc. and SB/RH Holdings, LLC, including our fiscal 2022 Annual Report and subsequent Quarterly Reports on Form 10-Q.

Some of the above-mentioned factors are described in further detail in the sections entitled “Risk Factors” in our annual and quarterly reports, as applicable. You should assume the information appearing in this press release is accurate only as of the date hereof, or as otherwise specified, as our business, financial condition, results of operations and prospects may have changed since such date. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the United States Securities and Exchange Commission, we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, to reflect actual results or changes in factors or assumptions affecting such forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230601006128/en/

Investor/Media Contact: Faisal Qadir

608-278-6207

KEYWORDS: Wisconsin Mexico United States Central America North America

INDUSTRY KEYWORDS: Technology Construction & Property Pets Landscape Interior Design Home Goods Consumer Retail Consumer Electronics Residential Building & Real Estate

MEDIA:

Logo

Janux Therapeutics Appoints Zachariah McIver, D.O., Ph.D., Vice President, Clinical Development

SAN DIEGO–(BUSINESS WIRE)–Janux Therapeutics, Inc. (Nasdaq: JANX) (Janux), a clinical-stage biopharmaceutical company developing a broad pipeline of novel immunotherapies by applying its proprietary technology to its Tumor Activated T Cell Engager (TRACTr) and Tumor Activated Immunomodulator (TRACIr) platforms, today announced the appointment of Dr. Zachariah (“Zach”) McIver as Vice President, Clinical Development. An accomplished physician-scientist with more than 15 years of experience in clinical research, Dr. McIver joins Janux after serving as Amgen’s Executive Medical Director, where he led cross-functional teams in the design, implementation, and execution of clinical and correlative study strategies.

“Zach has extensive clinical research experience including leading the clinical development to maximize the value of bispecific T-cell engager assets across multiple hematologic and solid tumor malignancies,” said David Campbell, Ph.D., President and CEO of Janux Therapeutics. “At Janux, Zach will play a key role in clinical development oversight as we advance our novel immunotherapy programs through clinical trials.”

“We’re excited to have Zach join the team as his experience with advanced T-cell engager programs will be especially important as we continue to advance our drug candidates in clinical trials,” said Wayne Godfrey, M.D., Chief Medical Officer at Janux.

“With TRACTr and TRACIr, Janux has built two very powerful platforms designed to overcome the toxicity and efficacy limitations of earlier generations of bispecific immunotherapies,” said Dr. McIver. “I look forward to working with the team at Janux to advance the Company’s deep portfolio of next-generation bispecific immunotherapies to improve cancer treatment and help more patients.”

A board-certified hematologist and physician-scientist, Dr. McIver began his career specializing in hematological malignancies and immunotherapy working as a principal investigator at the Hematology Branch of the National Heart, Lung, and Blood Institute (NHLBI) at the National Institute of Health (NIH). He played a key role in developing novel small molecules targeting alloreactive T-cells to prevent graft-versus-host-disease (GVHD) and established a stem cell transplant program for racial minority populations at the Wake Forest University School of Medicine. Dr. McIver also served as an attending physician at Wake Forest in the hematology/oncology department. Prior to this, he was an attending physician and a research investigator in the department of hematology/oncology at Tulane University School of Medicine.

Dr. McIver earned a B.S. in Physics and General Sciences from the University of Oregon, a Doctor of Osteopathic Medicine (D.O.) from Ohio University College of Osteopathic Medicine and a Ph.D. in Molecular Medicine and Translational Sciences at the Wake Forest University School of Medicine. He completed his internal medicine residency at the Cleveland Clinic, and his clinical fellowship in hematology and oncology at the NHLBI at the NIH. In addition, Dr. McIver is an active member of professional societies such as the American Society of Clinical Oncology, American Society of Hematology, and American College of Physicians.

Janux’s TRACTr and TRACIr Pipeline

JANX008 is a TRACTr that targets epidermal growth factor receptor (EGFR) and is being studied in a Phase 1 clinical trial for the treatment of multiple solid cancers including colorectal cancer, squamous cell carcinoma of the head and neck, non-small cell lung cancer, and renal cell carcinoma. Janux’s first clinical candidate, JANX007, is a TRACTr that targets prostate-specific membrane antigen (PSMA) and is being investigated in a Phase 1 clinical trial in adult subjects with metastatic castration-resistant prostate cancer (mCRPC). Janux’s TRACIr drug candidate, JANX009, is designed for targeting both the programmed death-ligand 1 (PD-L1) receptor as well as the costimulatory CD28 receptor on T cells and is being investigated in preclinical studies for the treatment of solid tumors. Janux is also applying its proprietary technology to develop a TRACTr designed to target trophoblast cell surface antigen 2 (TROP2), a clinically validated anti-tumor target that is overexpressed in various cancer types, such as breast, lung, urothelial, endometrial, ovarian, prostate, pancreatic, gastric, colon, head and neck, and glioma. In addition to named programs, Janux is generating a number of unnamed TRACTr and TRACIr programs for potential future development.

About Janux Therapeutics

Janux is a clinical-stage biopharmaceutical company developing next-generation bispecific immunotherapies with the goal of fighting cancers by killing tumor cells while allowing healthy tissues to remain unharmed. Janux’s proprietary platforms develop unique Tumor Activated T Cell Engagers (TRACTr) and Tumor Activated Immunomodulators (TRACIr) and support the building of a broad pipeline of drugs designed to direct and guide the patient’s immune system to eradicate tumors while minimizing safety concerns. The company’s innovative technology currently focuses on the engineering of bispecific antibodies functional only in the tumor, designed to provide safety advantages compared to earlier generations of bispecific immunotherapies. Currently, Janux’s two lead TRACTr compounds for PSMA and EGFR are in the clinic. For more information, please visit www.januxrx.com and follow us on LinkedIn.

Forward-Looking Statements

This news release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements include statements regarding, among other things, Janux’s ability to bring new treatments to cancer patients in need, expectations regarding the timing, scope and results of Janux’s development activities, including its ongoing and planned clinical trials, the timing of and plans for regulatory filings, the potential benefits of Janux’s product candidates and platform technologies, and expectations regarding the use of Janux’s platform technologies to generate novel product candidates. Factors that may cause actual results to differ materially include the risk that compounds that appear promising in early research do not demonstrate safety and/or efficacy in later preclinical studies or clinical trials, the risk that Janux may not obtain approval to market its product candidates, uncertainties associated with performing clinical trials, regulatory filings and applications, risks associated with reliance on third parties to successfully conduct clinical trials, the risks associated with reliance on outside financing to meet capital requirements, and other risks associated with the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics, and in the endeavor of building a business around such drugs. You are urged to consider statements that include the words “may,” “will,” “would,” “could,” “should,” “believes,” “estimates,” “projects,” “promise,” “potential,” “expects,” “plans,” “anticipates,” “intends,” “continues,” “designed,” “goal,” or the negative of those words or other comparable words to be uncertain and forward-looking. For a further list and description of the risks and uncertainties Janux faces, please refer to Janux’s periodic and other filings with the Securities and Exchange Commission, which are available at www.sec.gov. Such forward-looking statements are current only as of the date they are made, and Janux assumes no obligation to update 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/20230605005059/en/

Investors:

Andy Meyer

Janux Therapeutics

[email protected]

(202) 215-2579

Media:

Jessica Yingling, Ph.D.

Little Dog Communications Inc.

[email protected]

(858) 344-8091

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Biotechnology Pharmaceutical Health Oncology

MEDIA:

Logo

Worldwide Webb Acquisition Corp. Announces $5 Million PIPE Subscription Agreement Executed

NEW YORK–(BUSINESS WIRE)–
Worldwide Webb Acquisition Corp. (NASDAQ: WWAC) (“WWAC”) today announced that it has entered into a Subscription Agreement totaling $5 million at a purchase price of $4.84 per share in a private placement to be consummated substantially concurrently with the consummation WWAC’s acquisition of Aark Singapore Pte. Ltd.(collectively with certain of its subsidiaries, “Aeries Technology” or “Aeries”).

Daniel Webb, WWAC CEO, said: “Executing this Subscription Agreement is a major step forward in progressing our business combination with Aeries and represents a strong effort by the WWAC and Aeries teams. We are grateful for the commitment and support we have received from our new PIPE investor. On behalf of all of our shareholders, we look forward to welcoming this investor and working with this investor on the exciting next phase of Aeries’ growth story.”

About Worldwide Webb Acquisition Corp.

Worldwide Webb Acquisition Corp. is a publicly traded special purpose acquisition company founded by Daniel Webb, a former technology investment banker and private equity investor, for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or assets. To learn more, visit: https://www.wwac1.com/.

Where You Can Find Additional Information

This communication relates to a proposed business combination transaction among WWAC and Aeries Technology. In connection with the proposed transaction, WWAC filed with the SEC a registration statement that contained the proxy statement to solicit shareholder approval of the proposed business combination. The definitive proxy statement (if and when available) will be delivered to WWAC’s shareholders. WWAC may also file other relevant documents regarding the proposed transaction with the SEC. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF WWAC ARE URGED TO READ THE PROXY STATEMENT AND ALL OTHER RELEVANT DOCUMENTS THAT ARE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION, INCLUDING ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.

Investors and security holders may obtain free copies of the proxy statement (when available) and other documents that are filed or will be filed with the SEC by WWAC through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by WWAC will be available free of charge at Worldwide Webb Acquisition Corp., 770 E Technology Way F13-16, Orem, UT 84097, attention: Chief Executive Officer.

Participants in the Solicitation

WWAC and its directors and executive officers are participants in the solicitation of proxies from the shareholders of WWAC in respect of the proposed transaction. Information about WWAC’s directors and executive officers and their ownership of WWAC’s Class A ordinary shares is set forth in WWAC’s Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on March 31, 2023, and in WWAC’s other periodic and current reports filed with the SEC. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, is contained in the proxy statement, and WWAC may also file other relevant materials with the SEC in respect of the proposed transaction when they become available. You may obtain free copies of these documents as described in the preceding paragraph.

Aark Singapore Pte Ltd., Aeries and their respective directors and executive officers may also be deemed to be participants in the solicitation of proxies from the shareholders of WWAC in connection with the proposed business combination. A list of the names of such directors and executive officers and information regarding their interests in the proposed business combination is included in the proxy statement.

Cautionary Note Regarding Forward-Looking Statements

This communication contains certain statements that are not historical facts but are forward-looking statements within the meaning of Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and Section 27A of the U.S. Securities Act of 1933, as amended, for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include but are not limited to statements regarding the anticipated timing of closing of the proposed transaction. Words such as “may,” “should,” “will,” “believe,” “expect,” “anticipate,” “target,” “project,” and similar phrases that denote future expectations or intent regarding the combined company’s financial results, operations, and other matters are intended to identify forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties, and other factors that may cause future events to differ materially from the forward-looking statements in this communication, including but not limited to: (i) the ability to complete the proposed transaction within the time frame anticipated or at all; (ii) the failure to realize the anticipated benefits of the proposed transaction or those benefits taking longer than anticipated to be realized; (iii) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of WWAC’s securities; (iv) the risk that the transaction may not be completed by WWAC’s business combination deadline; (v) the failure to satisfy the conditions to the consummation of the transaction, including the approval of the Business Combination Agreement by the shareholders of WWAC, the satisfaction of the minimum cash on hand condition following redemptions by the public shareholders of WWAC and the receipt of any governmental and regulatory approvals; (vi) the occurrence of any event, change or other circumstance that could give rise to the termination of the Business Combination Agreement; (vii) unexpected costs or unexpected liabilities that may result from the proposed transactions, whether or not consummated; (viii) the impact of COVID-19 on Aeries’ business and/or the ability of the parties to complete the proposed transaction; (ix) the effect of disruption from the announcement or pendency of the transaction on Aeries’ business relationships, performance, and business generally; (x) risks that the proposed transaction disrupts current plans and operations of Aeries and potential difficulties in Aeries employee retention as a result of the proposed transaction; (xi) the outcome of any legal proceedings that may be instituted against Aeries or WWAC related to the Business Combination Agreement or the proposed transaction; (xii) the ability to maintain the listing of WWAC’s securities on the Nasdaq Global Market; (xiii) potential volatility in the price of WWAC’s securities due to a variety of factors, including economic conditions and the effects of these conditions on Aeries’ clients’ businesses and levels of activity, risks related to an economic downturn or recession in India, the United States and other countries around the world, fluctuations in earnings, fluctuations in foreign exchange rates, Aeries’ ability to manage growth, intense competition in IT services including those factors which may affect Aeries’ cost advantage, wage increases in India, the ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, Aeries’ ability to manage the international operations, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, changes in laws and regulations affecting Aeries’s business and changes in the combined company’s capital structure; (xiv) the ability to implement business plans, identify and realize additional opportunities and achieve forecasts and other expectations after the completion of the proposed transaction; (xv) the risk that the post-combination company may never achieve or sustain profitability; (xvi) WWAC’s potential need to raise additional capital to execute its business plan, which capital may not be available on acceptable terms or at all; and (xvii) the risk that the post-combination company experiences difficulties in managing its growth and expanding operations. The forward-looking statements contained in this communication are also subject to additional risks, uncertainties, and factors, including those described in WWAC’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other documents filed or to be filed with the SEC by WWAC from time to time. The forward-looking statements included in this communication are made only as of the date hereof. None of Aeries, WWAC or any of their affiliates undertakes any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, subsequent events, circumstances or otherwise, except as may be required by any applicable securities laws.

No Offer or Solicitation

This communication is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or to buy any securities or a solicitation of any vote or approval and is not a substitute for the proxy statement or any other document that WWAC may file with the SEC or send to WWAC’s shareholders in connection with the proposed transaction, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230605005794/en/

For Aeries Technology

Media:

Katie Creaser

[email protected]

Investors:

Ryan Gardella

[email protected]

For WWAC:

Daniel Webb

[email protected]

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Professional Services Finance

MEDIA: