Market Newsdesk

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  CompoSecure to enter into a Management Agreement with Resolute Holdings
  
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  Pro rata distribution of shares in Resolute Holdings to all existing shareholders of CompoSecure
  
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  Spin-off designed to accelerate value enhancing acquisitions for CompoSecure
  
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  David Cote will be Executive Chairman and Tom Knott will be CEO of Resolute Holdings
  
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  Transaction is expected to be taxable for both CompoSecure and all existing shareholders
  
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  Resolute Holdings expected to have limited profitability in FY2025
  

SOMERSET, N.J., Dec. 30, 2024 (GLOBE NEWSWIRE) — CompoSecure, Inc. (Nasdaq: CMPO), a leader in metal payment cards, security, and authentication solutions, today announced its intention to spin-off a newly formed subsidiary called Resolute Holdings Management, Inc. (“Resolute Holdings”). The investment team at CompoSecure, and their associated costs, will move to Resolute Holdings upon completion of the spin-off.

As part of the spin-off transaction, a wholly owned subsidiary of CompoSecure, CompoSecure Holdings, L.L.C., will enter into a Management Agreement with Resolute Holdings under which CompoSecure Holdings, L.L.C. will pay Resolute Holdings a quarterly management fee in cash equal to 2.5% of CompoSecure’s Latest Twelve Months’ Adjusted EBITDA¹. Resolute Holdings will be responsible for providing CompoSecure’s business with certain services, including providing oversight of its capital allocation strategy, operational practices, as well as M&A sourcing and execution. The acquisition strategy will focus on bolt-on targets adjacent to CompoSecure’s current operating business as well as larger targets that diversify the current business and customer mix.

CompoSecure’s existing management team, led by President and CEO Jon Wilk, will continue to operate the day-to-day business and deliver for our customers around the world while leveraging the CompoSecure Operating System to drive revenue growth and profitability.

The spin-off of Resolute Holdings will be on a pro rata basis to all existing shareholders of CompoSecure, meaning each existing shareholder will receive an allocation of shares in Resolute Holdings proportional to their current ownership in CompoSecure. The distribution of shares in Resolute Holdings will give rise to a taxable gain to CompoSecure and will be treated as a taxable dividend to all existing shareholders for U.S. federal and applicable state and local tax purposes.

Resolute Holdings anticipates limited profitability in fiscal year 2025 as it establishes operations and builds out infrastructure, including adding to its investment and operating team. These investments are designed to facilitate the acceleration of organic and value enhancing inorganic growth at CompoSecure.

Resolute Holdings will be led by David Cote as Executive Chairman of the Board of Directors and Tom Knott as Chief Executive Officer. In addition to David Cote and Tom Knott, the Board of Directors will include John Cote, Joseph DeAngelo, Roger Fradin, Paul Galant, Brian Hughes, Mark James, Krishna Mikkilineni, and Jane Thompson. Resolute Holdings is expected to trade under the ticker “RHLD” on Nasdaq following completion of the spin-off.

Goldman Sachs & Co. LLC is serving as financial advisor to CompoSecure, and Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor.

The spin-off is subject to customary conditions, including the effectiveness of Form 10 registration with the Securities and Exchange Commission and final approval by CompoSecure’s Board of Directors. The spin-off is currently expected to be completed during the first quarter of 2025.

^{1) For purposes of the management fee, Adjusted EBITDA, as further defined in the Management Agreement, represents CompoSecure’s historical Adjusted EBITDA methodology, less stock-based compensation expense.}

About CompoSecure

Founded in 2000, CompoSecure (Nasdaq: CMPO) is a technology partner to market leaders, fintech’s and consumers enabling trust for millions of people around the globe. The company combines elegance, simplicity and security to deliver exceptional experiences and peace of mind in the physical and digital world. CompoSecure’s innovative payment card technology and metal cards with Arculus security and authentication capabilities deliver unique, premium branded experiences, enable people to access and use their financial and digital assets, and ensure trust at the point of a transaction. For more information, please visit www.CompoSecure.com and www.GetArculus.com.

About Resolute Holdings Management, Inc.

Resolute Holdings Management, Inc. (“Resolute Holdings”) is a newly formed subsidiary of CompoSecure that is expected to be spun-off into a separate publicly traded company. Resolute Holdings is an alternative asset management platform led by David Cote and Tom Knott that will provide operating management services including the oversight of capital allocation strategy, operational practices, and M&A sourcing and execution at CompoSecure and other managed businesses in the future. Resolute Holdings brings a differentiated approach to long-term value creation through the systematic deployment of the Resolute Operating System, which will create value at both the underlying managed businesses and at Resolute Holdings. For additional information on Resolute Holdings, please refer to the recently filed Form 10.

Resolute Holdings Management, Inc. is a distinct entity from Resolute Holdings I, L.P., which acquired CompoSecure shares in September 2024.

Forward-Looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of management. Although CompoSecure believes that its plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, CompoSecure cannot assure you that it will achieve or realize these plans, intentions, or expectations. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Generally, statements that are not historical facts, including statements concerning the planned spin-off of Resolute Holdings, the anticipated impacts of the spin-off, CompoSecure’s possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. In some instances, these statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates” or “intends” or the negatives of these terms or variations of them or similar terminology. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements which speak only as of the date hereof. You should understand that the following important factors, among others, could cause actual results or other outcomes to differ materially from those expressed or implied in these forward-looking statements: the ability of CompoSecure to effect the spin-off described above and to meet the conditions related thereto; potential uncertainty during the pendency of the spin-off that could affect CompoSecure’s financial performance; the possibility that the spin-off will not be completed within the anticipated time period or at all; the possibility that the spin-off will not achieve its intended benefits; the ability of Resolute Holdings to successfully execute its plans and strategies, including with respect to M&A; the possibility of disruption, including changes to existing business relationships, disputes, litigation or unanticipated costs in connection with the spin-off; uncertainty of the expected financial performance of CompoSecure or Resolute Holdings following completion of the spin-off; negative effects of the announcement or pendency of the spin-off on the market price of CompoSecure’s securities and/or on the financial performance of CompoSecure; evolving legal, regulatory and tax regimes; actions by third parties, including government agencies; the ability of CompoSecure to diversify its business and customer base and to achieve enhancements in organic growth and operational efficiency, including for any future managed companies; the ability of CompoSecure to create value for its shareholders and generate robust free cash flow; the ability of CompoSecure to grow and manage growth profitably, maintain relationships with customers, compete within its industry and retain its key employees; the possibility that CompoSecure may be adversely impacted by other global economic, business, competitive and/or other factors; the outcome of any legal proceedings that may be instituted against CompoSecure or others; future exchange and interest rates; and other risks and uncertainties, including those under “Risk Factors” in filings that have been made or will be made with the Securities and Exchange Commission. CompoSecure undertakes no obligations to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contacts

For Resolute Holdings
[email protected]

For CompoSecure
Corporate Contact
Anthony Piniella
Head of Communications, CompoSecure
(917) 208-7724
[email protected]

Investor Relations Contact
Sean Mansouri, CFA
Elevate IR
(720) 330-2829
[email protected]

LITTLE ROCK, Ark., Dec. 30, 2024 (GLOBE NEWSWIRE) — Bank OZK (the “Bank”) (Nasdaq: OZK) expects to report fourth quarter and full year 2024 earnings after the market closes on Thursday, January 16, 2025.  Management’s comments on the fourth quarter and full year 2024 will be released simultaneously with the earnings press release and will be available on the Bank’s investor relations website.   

Management will conduct a conference call to take questions at 10:00 a.m. CT (11:00 a.m. ET) on Friday, January 17, 2025.  Interested parties may access the conference call live via webcast on the Bank’s investor relations website at https://ir.ozk.com/news/event-calendar, or may participate via telephone by registering using this online form.  Upon registration, all telephone participants will receive the dial-in number along with a unique PIN number that can be used to access the call.  A replay of the conference call webcast will be archived on the Bank’s website for at least 30 days.

GENERAL INFORMATION


Bank OZK (Nasdaq: OZK) is a regional bank providing innovative financial solutions delivered by expert bankers with a relentless pursuit of excellence.  Established in 1903, Bank OZK conducts banking operations in approximately 240 offices in nine states including Arkansas, Georgia, Florida, North Carolina, Texas, Tennessee, New York, California and Mississippi and had $37.44 billion in total assets as of September 30, 2024.   For more information, visit www.ozk.com.

The Bank files annual, quarterly and current reports, proxy materials, and other information required by the Securities Exchange Act of 1934 with the Federal Deposit Insurance Corporation (“FDIC”), copies of which are available electronically at the FDIC’s website at https://efr.fdic.gov/fcxweb/efr/index.html and are also available on the Bank’s investor relations website at ir.ozk.com.  To receive automated email alerts for these materials please visit https://ir.ozk.com/other/email-alerts to sign up.

Investor Relations Contact: Jay Staley (501) 906-7842
Media Contact: Michelle Rossow (501) 906-3922

THE COLONY, Texas, Dec. 30, 2024 (GLOBE NEWSWIRE) — Quest Resource Holding Corporation (Nasdaq: QRHC) (“Quest” or the “Company”), a national leader in environmental waste and recycling services, today announced that the Company has successfully completed its refinancing process, and has amended its financing agreements with Monroe Capital Management Advisors, LLC (“Monroe”) and PNC Bank (“PNC”).

“Earlier this year, the Board of Directors announced the formation of a financing committee to evaluate alternative debt structures focused on lowering the Company’s long-term cost of capital and supporting long-term growth. After an exhaustive process, which included discussions and proposals from multiple financing sources, the Company has executed on a new lending package that will decrease our blended interest rate margin by about 150 basis points, reducing interest expense by approximately $1 million annually. Our current lenders, Monroe and PNC, reflecting their confidence in our business, ultimately offered the most attractive terms,” said Dan Friedberg, Chairman of the Board of Directors.

S. Ray Hatch, President and Chief Executive Officer of Quest, added, “The substantial reduction in interest expense and rates, reduced fees, and improved terms all reflect the strong credit profile of our company and the strength of our business model. With an increased revolving credit line, improved terms, and extended maturities, our balance sheet is stronger and is well-positioned to support our long-term organic growth and opportunistic M&A strategies.”

“We greatly appreciate the support of our partners at PNC and Monroe and are looking forward to continuing to work with them going forward. Their confidence in our business was clearly demonstrated and positions us well for the future,” said Brett Johnston, Chief Financial Officer.

Summary of the amended credit agreement with Monroe Capital Management Advisors, LLC

• $54 million aggregate principal amount of term loan;
• Extended maturity date to June of 2030;
• Reduced interest rate of SOFR plus 450 to 550 basis points that varies based on leverage, reflecting a margin reduction of 100 to 200 basis points from the previous agreement.

Summary of the amended credit agreement with PNC Bank

• Increased revolver commitment from $35 million to $45 million;  
• Extended maturity date to December of 2029;
• Reduced interest rate of SOFR plus 200 basis points, reflecting a margin reduction of 25 basis points from the previous agreement;
• Improved terms to increase availability.

Additional information about the terms of the financing agreements can be found in our Current Report on Form 8-K filed today with the U.S. Securities and Exchange Commission (the “SEC”).

About Quest Resource Holding Corporation

Quest is a national provider of waste and recycling services that enable larger businesses to excel in achieving their environmental and sustainability goals and responsibilities. Quest delivers focused expertise across multiple industry sectors to build single-source, client-specific solutions that generate quantifiable business and sustainability results. Addressing a wide variety of waste streams and recyclables, Quest provides information and data that tracks and reports the environmental results of Quest’s services, gives actionable data to improve business operations, and enables Quest’s clients to excel in their business and sustainability responsibilities. For more information, visit www.qrhc.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which provides a “safe harbor” for such statements in certain circumstances. The forward-looking statements include, but are not limited to, our belief that with an increased revolving credit line, improved terms and extended maturities, our balance sheet is stronger and is well-positioned to support our long-term organic growth and opportunistic M&A strategies. Actual events or results could differ materially from those discussed in the forward-looking statements as a result of various factors, including, but not limited to, competition in the environmental services industry, the impact of the current economic environment, the spread of major epidemics (including Coronavirus) and other related uncertainties such as government-imposed travel restrictions, interruptions to supply chains, commodity price fluctuations, extended shut down of businesses, and other factors discussed in greater detail in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2023. You are cautioned not to place undue reliance on such statements and to consult our SEC filings for additional risks and uncertainties that may apply to our business and the ownership of our securities. Our forward-looking statements are presented as of the date made, and we disclaim any duty to update such statements unless required by law to do so.

Investor Relations Contact:

Three Part Advisors, LLC
Joe Noyons
817.778.8424

ST. LOUIS, Dec. 30, 2024 (GLOBE NEWSWIRE) — Advantage Solutions Inc. (NASDAQ: ADV), a leading provider of business solutions to consumer goods manufacturers and retailers, today announced the appointment of George Johnson as chief workforce operations officer, effective Dec. 31. Johnson will join the company’s executive leadership team and report to CEO Dave Peacock.

In the newly created position, Johnson will oversee all aspects of Advantage’s workforce strategy for frontline workers, including talent acquisition, workforce enablement and safety. In the role, he will lead Advantage’s efforts to enhance how the company assigns and deploys talent in the 100,000+ retail stores it serves each year.

“We are excited to welcome George to our team,” Peacock said. “George’s expertise will be instrumental in driving strong field execution and efficiency as Advantage continues our ongoing journey to accelerate future growth. He brings decades of experience working with frontline leaders to drive effectiveness, and he will be invaluable in our efforts to enhance our teammate experience and drive improved retention.”

A proven strategic operations leader, Johnson joins Advantage after spending two years in key leadership roles at Sysco Corp., where he most recently served as president of the company’s Carolinas region. He also held leadership roles of increasing responsibility at Aramark and Aramark Healthcare, where as vice president of operations, he led several successful initiatives that significantly improved operational performance and teammate satisfaction.

“I look forward to joining a company on an upward trajectory that stands behind a meaningful mission and purpose,” Johnson said. “Most of all, I am energized to join 70,000 amazing teammates who play such an essential role getting food, household and personal care products into the hands and homes of shoppers everywhere.

“Helping enhance the experience of our frontline teammates is the ultimate honor and responsibility for me,” he continued. “When teammates feel respected and connected, there are no limits to what we can accomplish together.”

Johnson is a Brooklyn, New York, native. He graduated from Lamar University.

About Advantage Solutions

Advantage Solutions is the leading omnichannel retail solutions agency in North America, uniquely positioned at the intersection of consumer-packaged goods (CPG) brands and retailers. With its data- and technology-powered services, Advantage leverages its unparalleled insights, expertise and scale to help brands and retailers of all sizes generate demand and get products into the hands of consumers, wherever they shop. Whether it’s creating meaningful moments and experiences in-store and online, optimizing assortment and merchandising, or accelerating e-commerce and digital capabilities, Advantage is the trusted partner that keeps commerce and life moving. Advantage has offices throughout North America and strategic investments and owned operations in select international markets. For more information, please visit YourADV.com.

Investor Contact:

Ruben Mella
[email protected]

Media Contact:

Peter Frost
[email protected]

PORT ANGELES, Wash., Dec. 30, 2024 (GLOBE NEWSWIRE) — First Fed Bank and its holding company, First Northwest Bancorp (NASDAQ: FNWB) (collectively the “Company”), announced the resignation of Craig Curtis from the Company’s Boards of Directors, effective December 31, 2024.

“On behalf of the Board of Directors we thank Craig for his many years of service and wish him all the best in his future endeavors,” said Cindy Finnie, Board Chair of FNWB and First Fed.

Curtis served on the First Fed Board for 10 years and the FNWB Board for 9 years. He served as Chair of the Nominating and Corporate Governance Committee for both Boards and the First Fed Board Loan Committee during his tenure on the Boards. Curtis explained his decision to resign from the Board saying, “I am grateful for the opportunity to serve on the Boards and contribute to the Company’s vision and growth over the past ten years. Over that time, I have seen the Bank experience tremendous growth, both in size and sophistication. As the Bank and Board have evolved, I recognize that there are more qualified Board candidates who can make more meaningful contributions to the Company. It is important to me personally to only serve in a position in which I am able to add value, and I also firmly believe that a board that evolves alongside the institution is a good thing.”

Curtis is a Partner and Director of Emerging Building Technologies with Mithun, a multi-disciplinary design firm with offices in Seattle, San Francisco, and Los Angeles. Prior to joining Mithun in 2020, Mr. Curtis served as Chief Architect with Katerra, Inc., starting in January 2016, where he was responsible for the development of Katerra’s building platforms and led the launch of the company’s mass timber design division, including North America’s largest cross-laminated timber factory. Prior to joining Katerra, Mr. Curtis was employed by The Miller Hull Partnership, an architecture and planning firm, for 30 years and served as a partner from 1994 until 2016.

The Boards, through the Nominating and Corporate Governance Committee, are actively engaged in ongoing recruiting efforts and have identified several potential candidates that offer the diversity, skills, and experience appropriate for Board membership. The Committee will also determine whether adding a new Board member is in the best interest of the Bank at this time. 

About the Company

First Northwest Bancorp (Nasdaq: FNWB) is a financial holding company engaged in investment activities including the business activity of its subsidiary, First Fed Bank, along with other fintech partnerships. First Fed is a small business-focused financial institution which has served its customers and communities since 1923. Currently First Fed has 17 locations in Washington state including 12 full-service branches. First Fed’s business and operating strategy is focused on building sustainable earnings by delivering a full array of financial products and services for individuals, small business, and commercial customers. Additionally, First Fed focuses on strategic partnerships with financial technology (“fintech”) companies to develop and deploy digitally focused financial solutions to meet customers’ needs on a broader scale. FNWB also invests in fintech companies directly as well as through select venture capital partners. In 2022, the Company made a minority investment in Meriwether Group, a boutique investment banking and accelerator firm. First Northwest Bancorp was incorporated in 2012. The Company completed its initial public offering in 2015 under the ticker symbol FNWB and is headquartered in Port Angeles, Washington.

First Fed Bank was recognized by Puget Sound Business Journal as a Best Workplace and top Corporate Philanthropist in 2023. By popular vote, First Fed received 2023 awards for Best Bank in the Best of the Northwest, Best Bank in Readers’ Choice by Cascadia Daily News, Best Bank and Best Financial Advisor in Best of the Peninsula for Clallam County. Also, the community bank received a best-in-state bank award from Forbes in 2021. First Fed is a Member FDIC and equal housing lender.

First Northwest Bancorp press release
December 30, 2024

Forward Looking Statements

Certain matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, expectations of the business environment in which we operate, projections of future performance, perceived opportunities in the market, potential future credit experience, and statements regarding our mission and vision. These forward-looking statements are based upon current management expectations and may, therefore, involve risks and uncertainties. Our actual results, performance, or achievements may differ materially from those suggested, expressed, or implied by forward-looking statements as a result of a wide variety or range of factors including, but not limited to: increased competitive pressures; changes in the interest rate environment; the credit risks of lending activities; changes in general economic conditions and conditions within the securities markets; legislative and regulatory changes; and other factors described in the Company’s latest Annual Report on Form 10-K and other filings with the Securities and Exchange Commission (“SEC”)-which are available on our website at www.ourfirstfed.com and on the SEC’s website at www.sec.gov.

Contact:

Matthew P. Deines President & CEO (360) 457-0461

MELBOURNE, Australia and BRUSSELS, Dec. 31, 2024 (GLOBE NEWSWIRE) — Telix Pharmaceuticals Limited (ASX: TLX; Nasdaq: TLX, Telix, the Company) and the Brussels-based Oncidium foundation today announce that results for the NOBLE Registry of TLX599-CDx (^99mTc-iPSMA) have been published in the European Journal of Nuclear Medicine and Molecular Imaging (EJNMMI) Reports.

The NOBLE (Nobody Left Behind) Registry (NOBLE) is a global real-world evidence (RWE) study that aims to improve equity of access to state-of-the-art prostate cancer imaging. NOBLE is a collaboration combining the oncology and prostate cancer expertise of the Oncidium foundation as registry sponsor, Telix’s intellectual property, and partnered clinical and operational support. An international network of sites support the registry locally through Principal Investigators (PIs), who are responsible for initiating and conducting research. Investigators collect patient data that will inform the development of TLX599-CDx, an investigational prostate cancer imaging agent that targets PSMA ¹ using 99m-technetium (^99mTc)-based SPECT² imaging.

SPECT cameras are being clinically evaluated in this application because they are more widely available than the PET/CT³ scanners used for gallium- or fluorine-based PSMA imaging, where access can be limited by socio-economic or geographic factors, as well as healthcare funding models. For every PET scanner available globally, there are four SPECT machines⁴, making them a more accessible option when used with ^99mTc – a radionuclide with a well-established supply chain, which can be produced in a bench-top generator.

In the publication, the investigators report initial results based on a study of 40 patients in six countries⁵, who received TLX599-CDx followed by planar and SPECT imaging. Investigators reported a change in management for 17 patients (42.5%) due to the use of SPECT-based PSMA imaging. No adverse events were reported. The authors conclude that technetium-based imaging “is a promising option to identify PSMA-positive prostate cancer on SPECT and could improve patient access to PSMA imaging worldwide”, fulfilling an unmet need for millions of patients with prostate cancer who do not have straightforward access to PET imaging.

Pete Tually, lead author, Director, TeleMed Remote Nuclear Medicine, and Principal Investigator for the Australian arm of NOBLE said, “The NOBLE Registry is an important initiative for increasing access to medicine globally, particularly for men in regional and remote locations. The interim results reported in our manuscript are promising, and we believe they provide a compelling basis for the further clinical study of technetium-99m-based PSMA imaging of prostate cancer.”

Rebecca Lo bue, CEO, Oncidium foundation, added, “PSMA-PET⁶ imaging is today widely used in many countries worldwide, helping to extend life and improve treatment outcomes for men with prostate cancer through earlier diagnosis and better disease management. However, millions of men do not have access to this technology. These results from NOBLE represent an exciting milestone in bringing to market a powerful, cost-effective, and widely available alternative imaging tool that uses PSMA-SPECT technology.”

Dr. David N. Cade, Group Chief Medical Officer, Telix, continued, “Telix is proud to support the NOBLE Registry, which aims to improve access for patients who face geographic or economic barriers to state-of-the-art prostate cancer imaging. This publication by Pete Tually and his co-authors⁷ signals a positive future for technetium-99m-based PSMA imaging, and we are excited to be part of this innovative program. As established leaders in PSMA imaging, Telix is committed to exploring multiple avenues to help men with prostate cancer get the diagnoses and treatments they need. We would like to thank all NOBLE investigators and the patients who have contributed towards this study.”

The EJNMMI Reports publication is available online at: 
https://link.springer.com/article/10.1186/s41824-024-00226-4

Telix and the Oncidium foundation are planning follow-on clinical activity for NOBLE. This may include collaboration with Rhine Pharma on expanded access or compassionate use programs, exploring the use of technetium-99m and rhenium-188 as a theranostic pair for prostate cancer. This initiative reflects Telix’s global commitment to access to medicine.

About the Oncidium foundation

The Oncidium foundation is a nonprofit organisation dedicated to advancing global access to radioligand therapy for cancer care. The foundation’s priorities include raising awareness about radiotheranostics among patients and physicians, supporting and financing the development of new radiopharmaceuticals for therapy, supporting clinical best practice, and improving access to patients, globally. For more information visit http://www.oncidiumfoundation.org.

About
Telix Pharmaceuticals Limited

Telix is a biopharmaceutical company focused on the development and commercialization of therapeutic and diagnostic radiopharmaceuticals and associated medical technologies. Telix is headquartered in Melbourne, Australia, with international operations in the United States, Europe (Belgium and Switzerland), and Japan. Telix is developing a portfolio of clinical and commercial stage products that aims to address significant unmet medical needs in oncology and rare diseases. Telix is listed on the Australian Securities Exchange (ASX: TLX) and the Nasdaq Global Select Market (Nasdaq: TLX).

Telix’s lead imaging product, gallium-68 (⁶⁸Ga) gozetotide injection (also known as ⁶⁸Ga PSMA-11 and marketed under the brand name Illuccix®), has been approved by the U.S. Food and Drug Administration (FDA)⁸, by the Australian Therapeutic Goods Administration (TGA) ⁹, and by Health Canada¹⁰. No other Telix product has received a marketing authorization in any jurisdiction.

Visit www.telixpharma.com for further information about Telix, including details of the latest share price, announcements made to the ASX, investor and analyst presentations, news releases, event details and other publications that may be of interest. You can also follow Telix on X and LinkedIn.

Telix Investor Relations

Ms. Kyahn Williamson
Telix Pharmaceuticals Limited
SVP Investor Relations and Corporate Communications
Email: [email protected]

Legal Notices

You should read this announcement together with our risk factors, as disclosed in our most recently filed reports with the Australian Securities Exchange (ASX), U.S. Securities and Exchange Commission (SEC), including our registration statement on Form 20-F filed with the SEC, or on our website.

The information contained in this announcement is not intended to be an offer for subscription, invitation or recommendation with respect to securities of Telix Pharmaceuticals Limited (Telix) in any jurisdiction, including the United States. The information and opinions contained in this announcement are subject to change without notification.  To the maximum extent permitted by law, Telix disclaims any obligation or undertaking to update or revise any information or opinions contained in this announcement, including any forward-looking statements (as referred to below), whether as a result of new information, future developments, a change in expectations or assumptions, or otherwise. No representation or warranty, express or implied, is made in relation to the accuracy or completeness of the information contained or opinions expressed in the course of this announcement.

This announcement may contain forward-looking statements, including within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, that relate to anticipated future events, financial performance, plans, strategies or business developments. Forward-looking statements can generally be identified by the use of words such as “may”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe”, “outlook”, “forecast” and “guidance”, or the negative of these words or other similar terms or expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements are based on Telix’s good-faith assumptions as to the financial, market, regulatory and other risks and considerations that exist and affect Telix’s business and operations in the future and there can be no assurance that any of the assumptions will prove to be correct. In the context of Telix’s business, forward-looking statements may include, but are not limited to, statements about: the initiation, timing, progress and results of Telix’s preclinical and clinical trials, and Telix’s research and development programs; Telix’s ability to advance product candidates into, enrol and successfully complete, clinical studies, including multi-national clinical trials; the timing or likelihood of regulatory filings and approvals for Telix’s product candidates, manufacturing activities and product marketing activities; Telix’s sales, marketing and distribution and manufacturing capabilities and strategies; the commercialisation of Telix’s product candidates, if or when they have been approved; Telix’s ability to obtain an adequate supply of raw materials at reasonable costs for its products and product candidates; estimates of Telix’s expenses, future revenues and capital requirements; Telix’s financial performance; developments relating to Telix’s competitors and industry; and the pricing and reimbursement of Telix’s product candidates, if and after they have been approved. Telix’s actual results, performance or achievements may be materially different from those which may be expressed or implied by such statements, and the differences may be adverse. Accordingly, you should not place undue reliance on these forward-looking statements.

©2024 Telix Pharmaceuticals Limited. The Telix Pharmaceuticals® and Illuccix® names and logos are trademarks of Telix Pharmaceuticals Limited and its affiliates – all rights reserved.

___________________________________________

¹ Prostate-specific membrane antigen.
² Single photon emission computed tomography.
³ Positron emission tomography/computed tomography.
⁴ MEDraysintell.
⁵ Australia, Azerbaijan, Egypt, Indonesia, Mexico, South Africa.
⁶ Imaging of prostate-specific membrane antigen with positron emission tomography.
⁷ Virginia Garcia Quinto (Hospital Galenia Department of Nuclear Medicine, Cancun, Mexico), Yehia Omar (Misr Radiology Center, Cairo, Egypt), Fuad Novruzov (Department of Nuclear Medicine, Azerbaijan National Centre of Oncology, Baku, Azerbaijan), Ryan Yudistiro (Department of Nuclear Medicine, Siloam Hospital, Jakarta, Indonesia), Mike Sathekge (University of Pretoria Nuclear Medicine Department, Gauteng, South Africa), Geoffrey Currie (School of Dentistry and Medical Sciences, Charles Sturt University, Bathurst, Australia), Paul Galette, Neel Patel, Tracey Brown and David Cade (Telix), Gabriel Bolland and Rebecca Lo bue (Oncidium foundation).
⁸ Telix ASX disclosure 20 December 2021.
⁹ Telix ASX disclosure 2 November 2021.
¹⁰ Telix ASX disclosure 14 October 2022.

HOUSTON, Dec. 30, 2024 (GLOBE NEWSWIRE) — FibroBiologics, Inc. (Nasdaq: FBLG) (“FibroBiologics”), a clinical-stage biotechnology company with 160+ patents issued and pending with a focus on the development of therapeutics and potential cures for chronic diseases using fibroblasts and fibroblast-derived materials, announced that it has entered into a Standby Equity Purchase Agreement (the “SEPA”) with YA II PN LTD. (“Yorkville”), an investment fund managed by Yorkville Advisors Global, LP. The agreement allows FibroBiologics, subject to customary conditions, to sell up to $25 million in the aggregate of its common stock to Yorkville over the course of two years.

Yorkville agreed to advance to FibroBiologics the first $15 million available under the SEPA in three equal tranches to be evidenced by convertible promissory notes. The first tranche in the amount of $5 million was funded upon entry into the SEPA. Subject to the satisfaction of certain conditions, the second tranche of $5 million will fund after the filing of a registration statement covering the resale of the shares issuable to Yorkville under the promissory notes, and the third tranche of $5 million will fund following the effectiveness of the registration statement and receipt of shareholder approval in satisfaction of Nasdaq rules. FibroBiologics can sell an additional $10 million of its common stock to Yorkville, subject to Yorkville’s consent and other conditions, while the convertible promissory notes remain outstanding.

“The initial advances from this financing will allow us to complete our first-in-human trial for diabetic foot ulcers as well as IND-enabling studies for our psoriasis program,” said Pete O’Heeron, Founder & Chief Executive Officer of FibroBiologics. “We expect to further develop our human longevity, multiple sclerosis, and cancer indications by utilizing the remaining capital available under the SEPA.”

For more information, please visit FibroBiologics’ website or email FibroBiologics at: [email protected]. For more information on the SEPA, including important terms and conditions, please see FibroBiologics’ filings with the Securities and Exchange Commission, including its Current Reports on Form 8-K filed with the Securities and Exchange Commission from time to time.

This communication shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of the securities discussed herein, in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

Cautionary Statement Regarding Forward-Looking Statements

This communication contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning the funding of the advances under the SEPA, FibroBiologics’ ability to sell additional shares under the SEPA, and FibroBiologics’ ability to complete clinical trials and IND-enabling studies and to develop its other programs and indications. These forward-looking statements are based on FibroBiologics’ management’s current expectations, estimates, projections and beliefs, as well as a number of assumptions concerning future events. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside FibroBiologics’ management’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements, including those set forth under the caption “Risk Factors” and elsewhere in FibroBiologics’ annual, quarterly and current reports (i.e., Form 10-K, Form 10-Q and Form 8-K) as filed or furnished with the SEC and any subsequent public filings. Copies are available on the SEC’s website, www.sec.gov. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (a) risks related to FibroBiologics’ liquidity and its ability to maintain capital resources sufficient to conduct its business; (b) expectations regarding the initiation, progress and expected results of our R&D efforts and preclinical studies; (c) the unpredictable relationship between R&D and preclinical results and clinical study results; and (d) the ability of FibroBiologics to satisfy the conditions under the SEPA and related agreements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and FibroBiologics assumes no obligation and, except as required by law, does not intend to update, or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. FibroBiologics gives no assurance that it will achieve its expectations.

About FibroBiologics

Based in Houston, FibroBiologics is a clinical-stage biotechnology company developing a pipeline of treatments and potential cures for chronic diseases using fibroblast cells and fibroblast-derived materials. FibroBiologics holds 160+ US and internationally issued patents/patents pending across various clinical pathways, including disc degeneration, orthopedics, multiple sclerosis, psoriasis, wound healing, reversing organ involution, and cancer. FibroBiologics represents the next generation of medical advancement in cell therapy. For more information, visit www.FibroBiologics.com.

Contact Us:

D. Boral Capital
590 Madison Avenue, 39th Floor
New York, NY 10022
Main Phone: +1 (212) 970-5150
www.dboralcapital.com
[email protected]

Geneva, Switzerland, Dec. 30, 2024 (GLOBE NEWSWIRE) —

SEALSQ Corp (NASDAQ: LAES) (“SEALSQ” or “Company”), a company that focuses on developing and selling Semiconductors, PKI and Post-Quantum technology hardware and software products, today announced it expects to end the year with a strong balance sheet and a cash position which is projected to be in excess of $85 million by January 3, 2025. The Company’s advancements in post-quantum technology, widely recognized as a key driver of future growth, have positioned SEALSQ as a leader in this transformative sector.

As part of its strategic initiatives, SEALSQ recently raised gross proceeds of $60 million through multiple registered direct offerings. This includes a $10 million registered direct offering announced on December 12, 2024, and an additional $50 million raised through two subsequent registered direct offerings completed in December 2024. As a result, at December 30, 2024, SEALSQ’s total ordinary shares outstanding reached 93.8 million, and its market capitalization surpassed $700 million.

The net proceeds raised via these transactions will be used to accelerate the deployment of its post-quantum semiconductor technology and Application-Specific Integrated Circuit (ASIC) capabilities in the U.S., while also supporting general corporate objectives.

Warrants Cleared and Convertible Facilities Canceled

The first registered direct offering included a requirement that the Company enter into a convertible loan for a value of $10 million on or before January 16, 2025. If the Company failed to do so, the remaining warrants would all reset to an exercise price of $1.30 with an associated increase in the quantity of warrants to retain the net proceeds.

In order to remove the requirement to enter into the convertible loan, and to avoid the associated reduction in the warrant exercise price, the Company has today agreed with the holders of its outstanding warrants to a one-off reduction in exercise price of all outstanding warrants to $1.65 on the condition that all outstanding warrants are exercised by January 3, 2025 (subject to a potential reduction of the strike price of $1.30 for some of the warrants, in the event certain regulatory filings are not completed by the Company on or prior to January 3, 2025).

Once this has been completed, SEALSQ will have successfully fulfilled its outstanding warrant obligations and will no longer be required to enter into the convertible loan facility noted above. These financial measures are expected to solidify the Company’s balance sheet and support its long-term growth strategy.

Optimized Financial Structure

Legacy financing tools, utilized during the Company’s growth phase, have been phased out, reflecting SEALSQ’s strengthened financial position. The Company also received formal written confirmation from The Nasdaq Stock Market, LLC (“Nasdaq”) confirming that it regained compliance with Nasdaq’s minimum bid price requirement, as announced on December 26, 2024.

The regaining of compliance with Nasdaq’s minimum bid price requirement is the result of the Company’s closing bid price of the Ordinary Shares being at least $1.00 for at least 10 consecutive business days prior to January 28, 2025 deadline, as described in the initial notice from Nasdaq received by the Company on August 1, 2024.

The Company reaffirms its statement from December 19, 2024 that, given the terms of the financings completed in December, it does not currently expect to enter into any further registered direct offering of ordinary shares for at least 60 days following the December 19, 2024 announcement as a result of the financings raised.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About SEALSQ

SEALSQ is a leading innovator in Post-Quantum Technology hardware and software solutions. Our technology seamlessly integrates Semiconductors, PKI (Public Key Infrastructure), and Provisioning Services, with a strategic emphasis on developing state-of-the-art Quantum Resistant Cryptography and Semiconductors designed to address the urgent security challenges posed by quantum computing. As quantum computers advance, traditional cryptographic methods like RSA and Elliptic Curve Cryptography (ECC) are increasingly vulnerable.

SEALSQ is pioneering the development of Post-Quantum Semiconductors that provide robust, future-proof protection for sensitive data across a wide range of applications, including Multi-Factor Authentication tokens, Smart Energy, Medical and Healthcare Systems, Defense, IT Network Infrastructure, Automotive, and Industrial Automation and Control Systems. By embedding Post-Quantum Cryptography into our semiconductor solutions, SEALSQ ensures that organizations stay protected against quantum threats. Our products are engineered to safeguard critical systems, enhancing resilience and security across diverse industries.

For more information on our Post-Quantum Semiconductors and security solutions, please visit www.sealsq.com.

Forward Looking Statements

This communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipates will occur in the future, as well as any other statements which are not historical facts. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the investors’ exercise of the warrants; SEALSQ’s ability to implement its growth strategies; SEALSQ’s ability to successfully launch post-quantum semiconductor technology; SEALSQ’s ability to capture a share of the quantum semiconductor market; the growth of the quantum computing market; SEALSQ’s ability to expand its U.S. operations; SEALSQ’s ability to make additional investments towards the development of a new generation of quantum-ready semiconductors; SEALSQ’s ability to continue beneficial transactions with material parties, including a limited number of significant customers; market demand and semiconductor industry conditions; the growth of the quantum computing market; and the risks discussed in SEALSQ’s filings with the SEC. Risks and uncertainties are further described in reports filed by SEALSQ with the SEC.

SEALSQ Corp is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

Press and Investor Contacts

SEALSQ Corp.
Carlos Moreira
Chairman & CEO
Tel: +41 22 594 3000
[email protected]

SEALSQ Investor Relations (US)
The Equity Group Inc.
Lena Cati
Tel: +1 212 836-9611 / [email protected]
Katie Murphy
Tel: +212 836-9612 / [email protected]