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Lumentum Holdings Inc. Announces Upsize and Pricing of $525 Million Convertible Notes Offering

Lumentum Holdings Inc. Announces Upsize and Pricing of $525 Million Convertible Notes Offering

SAN JOSE, Calif.–(BUSINESS WIRE)–
Lumentum Holdings Inc. (“Lumentum”) (NASDAQ: LITE) today announced the pricing of $525 million aggregate principal amount of convertible senior notes due 2029 (the “notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Act”). The aggregate principal amount of the offering was increased from the previously announced offering size of $500 million (or $575 million if the initial purchasers exercise their option to purchase additional notes in full). Lumentum granted the initial purchasers of the notes a 13-day option to purchase up to an additional $78.75 million aggregate principal amount of the notes. The sale of the notes to the initial purchasers is expected to settle on June 16, 2023, subject to customary closing conditions, and is expected to result in approximately $520.1 million (or approximately $598.2 million if the initial purchasers fully exercise their option to purchase additional notes) in net proceeds to Lumentum after deducting the initial purchasers’ discount and estimated offering expenses payable by Lumentum.

The notes will be senior, unsecured obligations of Lumentum. The notes will bear interest at a rate of 1.50% per year. Interest will be payable semi-annually in arrears on June 15 and December 15 of each year, beginning on December 15, 2023. The notes will mature on December 15, 2029, unless earlier converted, redeemed or repurchased.

Lumentum intends to use a portion of the net proceeds of the offering to (i) repurchase approximately $125 million aggregate principal amount of its 0.250% Convertible Senior Notes due 2024 using approximately $132.8 million of the net proceeds of the offering, and (ii) purchase approximately $125 million of its common stock, in each case, concurrently with the pricing of the offering in privately negotiated transactions effected through one of the initial purchasers of the notes or its affiliate, as its agent. Lumentum intends to use the remaining net proceeds of the offering for general corporate purposes, which may include the repayment or repurchase of its indebtedness, including any of its existing convertible notes, capital expenditures, working capital and potential acquisitions.

Holders of the 2024 notes that are repurchased in the concurrent repurchases described above may purchase shares of Lumentum’s common stock (“common stock”) in the open market to unwind any hedge positions they may have with respect to the 2024 notes. These activities may affect the trading price of Lumentum’s common stock and the initial conversion price of the notes. Additionally, the concurrent repurchases of shares of Lumentum’s common stock described above may result in the common stock trading at prices that are higher than would be the case in the absence of these repurchases.

The initial conversion rate for the notes is 14.3808 shares of Lumentum’s common stock (“common stock”) per $1,000 principal amount of notes (which is equivalent to an initial conversion price of approximately $69.54 per share) and is subject to adjustment upon the occurrence of certain events. Prior to the close of business on the business day immediately preceding September 15, 2029, the notes will be convertible at the option of the noteholders upon satisfaction of specified conditions and during certain periods. Thereafter, until the close of business on the second scheduled trading day preceding the maturity date, the notes will be convertible at the option of the noteholders at any time regardless of these conditions. Conversions of the notes will be settled in cash, shares of common stock or a combination of cash and shares of common stock, with the form of consideration at Lumentum’s election. The initial conversion price represents a premium of approximately 30% over the last reported sale price of Lumentum’s common stock on June 13, 2023, of $53.49 per share.

Lumentum may redeem for cash all or any portion of the notes, at its option (subject to certain limitations), on or after June 22, 2026, if the last reported sale price of its common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading-day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which Lumentum provides notice of redemption at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. No sinking fund is provided for the notes.

The notes will be offered to qualified institutional buyers pursuant to Rule 144A under the Act. Neither the notes nor the shares of common stock issuable upon conversion of the notes, if any, have been, nor will be, registered under the Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These include statements regarding Lumentum’s financing plans, Lumentum’s ability to complete the offering, the expected closing date of the offering and Lumentum’s intended use of the net proceeds of the offering. Forward looking statements are often identified by the use of words such as, but not limited to, “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “seek,” “should,” “target,” “will,” “would,” “contemplate,” “believe,” “predict,” “potential” and similar expressions or variations intended to identify forward-looking statements. These statements are based on the beliefs and assumptions of Lumentum’s management, which are in turn based on information currently available to management. Such forward-looking statements are subject to risks, uncertainties and other important factors that could cause actual results and the timing of certain events to differ materially from future results expressed or implied by such forward-looking statements. Actual results may differ materially from those anticipated or predicted by Lumentum’s forward-looking statements as a result of various important factors, including, but not limited to, the terms of the notes and the offering, the risks and uncertainties related to whether or not Lumentum will consummate the offering, and the impact of general economic, industry, market or political conditions. In addition, all forward-looking statements are subject to other risks detailed in our Quarterly Report on Form 10-Q for the quarter ended April 1, 2023 and the risks discussed in our other filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and we undertake no obligation to revise or update this news release to reflect events or circumstances after the date hereof, except as required by applicable law.

About Lumentum

Lumentum (NASDAQ: LITE) is a market-leading designer and manufacturer of innovative optical and photonic products enabling optical networking and laser applications worldwide. Lumentum optical components and subsystems are part of virtually every type of telecom, enterprise, and data center network. Lumentum lasers enable advanced manufacturing techniques and diverse applications including next-generation imaging and sensing capabilities. Lumentum is headquartered in San Jose, California with R&D, manufacturing, and sales offices worldwide.

Category: Financial

Investors: Kathy Ta, 408-750-3853; [email protected]

Media: Caroline Pan, 650-267-4180; [email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Telecommunications Networks Audio/Video Hardware Data Management Engineering Technology Manufacturing

MEDIA:

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Disc Medicine Announces Pricing of Upsized Public Offering of Common Stock and Pre-Funded Warrants

WATERTOWN, Mass., June 13, 2023 (GLOBE NEWSWIRE) — Disc Medicine, Inc. (NASDAQ: IRON) (Disc), a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases, today announced the pricing of its upsized underwritten public offering of shares of its common stock and, in lieu of common stock to certain investors that so choose, pre-funded warrants to purchase shares of its common stock. Disc is selling 2,595,919 shares of common stock and pre-funded warrants to purchase 204,081 shares of common stock in the offering. The shares of common stock are being sold at a public offering price of $49.00 per share, and the pre-funded warrants are being sold at a public offering price of $48.9999 per pre-funded warrant, which represents the per share public offering price for the common stock less the $0.0001 per share exercise price for each such pre-funded warrant. The aggregate gross proceeds to Disc from this offering are expected to be $137.2 million, before deducting underwriting discounts and commissions and other estimated offering expenses, excluding the exercise of any pre-funded warrants. In addition, Disc has granted the underwriters a 30-day option to purchase up to an additional 420,000 shares of its common stock at the public offering price less underwriting discounts and commissions. All of the securities being sold in the offering are being offered by Disc. The offering is expected to close on June 16, 2023, subject to the satisfaction of customary closing conditions.

Disc intends to use the net proceeds from the offering to fund research and clinical development of its current or additional product candidates, as well as for working capital and other general corporate purposes.

Morgan Stanley, SVB Securities, Stifel and BMO Capital Markets are acting as joint book-running managers for the offering. Wedbush PacGrow is acting as lead manager for the offering.

The securities described above are being offered by Disc pursuant to a shelf registration statement on Form S-3 (No. 333-269272) that was declared effective by the Securities and Exchange Commission (SEC) on January 24, 2023. This offering is being made only by means of a prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus related to the offering has been filed, and a final prospectus supplement and accompanying prospectus related to the offering will be filed, with the SEC and are or will be available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may also be obtained, when available, by contacting: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; SVB Securities LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, Massachusetts 02109, telephone: 1 (800) 808-7525 ext. 6105, or by emailing [email protected]; Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, telephone: (415) 364‐2720 or by emailing [email protected]; or BMO Capital Markets Corp., Attention: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, New York 10036, telephone: (212) 702-1101, or by emailing [email protected].

This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction.

About Disc Medicine

Disc Medicine (NASDAQ: IRON) is a clinical-stage biopharmaceutical company committed to discovering, developing, and commercializing novel treatments for patients who suffer from serious hematologic diseases. We are building a portfolio of innovative, potentially first-in-class therapeutic candidates that aim to address a wide spectrum of hematologic diseases by targeting fundamental biological pathways of red blood cell biology, specifically heme biosynthesis and iron homeostasis.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, express or implied statements related to Disc’s expectations regarding the timing and closing of the offering, and the anticipated use of proceeds from the offering. The words “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “seek,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release. These risks and uncertainties include fluctuations in Disc’s stock price, changes in market conditions, the satisfaction of customary closing conditions related to the public offering, and other risks identified in our SEC filings, including our Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, and in the preliminary prospectus supplement related to the offering filed with the SEC on June 12, 2023. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. We disclaim any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

Media Contact

Peg Rusconi
Verge Scientific Communications
[email protected]

Investor Relations Contact

Christina Tartaglia
Stern Investor Relations
[email protected]



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FedEx and Floship Form Commercial Partnership to Deliver What’s Next in E-Commerce

Investment from FedEx Innovation Lab and innovative collaboration strengthens FedEx end-to-end digital fulfillment and returns solution

HONG KONG, June 13, 2023 (GLOBE NEWSWIRE) — FedEx Corp. (NYSE: FDX) and Floship, a leading global circular supply chains solutions provider for e-commerce brands, today announced a partnership designed to provide enhanced fulfillment and logistics services to e-tailers worldwide.

      Through investment by the FedEx Innovation Lab (FIL), the partnership will create an end-to-end digitalized fulfillment and return solution, enhancing operational efficiency through optimal inventory management and best-in-class delivery using FedEx services.

      This partnership will give FedEx’s e-commerce customers access to Floship’s global network of warehouses and powerful logistics platform’s capabilities to streamline their e-commerce fulfillment operations. At the same time, Floship’s customers will be able to leverage FedEx global networks as well as a full range of FedEx extensive transportation options to optimize their operations.

      Additionally, FedEx’s and Floship’s cross-border e-commerce customers in Asia-Pacific, Middle East and Africa, Europe, and North America will gain access to enhanced fulfillment, last-mile delivery, as well as hassle-free returns.

      “Partnerships like this will help us accelerate how we reimagine the future of logistics,” said Salil Chari, senior vice president, Marketing and Customer Experience for Asia Pacific, Middle East, and Africa (AMEA) region, FedEx Express. “E-commerce sales continue to grow worldwide1. With the growing shift to online purchasing, consumers are looking for seamless service – from delivery times and easy returns to personalized experiences2. At the same time, e-tailers are seeking to improve service levels while optimizing their operations and lowering their cost-to-serve. Collaborating with industry innovators like Floship will help online retailers better compete supported by the FedEx global logistics network.”

      Speaking on the partnership, Joshua Tsui, Floship’s CEO shared, “Floship is tremendously thrilled to be working alongside FedEx to redefine the global e-commerce fulfillment landscape. As more consumers around the world embrace e-commerce, businesses must come together to provide customers with innovative solutions that redefine the traditional linear supply chain. By bringing this collaboration to market, our mutual goal is to provide e-commerce brands and retailers with a one-stop, all-inclusive two-way supply chain solution that enables brands to grow at an exponential rate whilst simultaneously delivering a superior customer experience.”

      The FedEx Innovation Lab (FIL) makes early-stage investments in rising start-ups primarily in India. These collaborations will bring additional value in terms of capabilities and speed to market to start-up firms through FedEx’s global networks, resources, and customer base. The collaborations will also help expand FedEx advanced digital capabilities globally as it continues to evolve its operations and product offerings to meet the needs of the modern supply chain. This is the second investment by FIL.

About FedEx Corp.

      FedEx Corp.  (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenue of $93 billion, the company offers integrated business solutions through operating companies competing collectively, operating collaboratively and innovating digitally as one FedEx. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 530,000 employees to remain focused on safety, the highest ethical and professional standards and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit fedex.com/about, or follow us on LinkedIn, and Facebook.

FedEx Express press releases are available on the World Wide Web at https://newsroom.fedex.com/newsroom/amea

Learn more about the latest insights in the logistics industry, please visit:  
FedEx Business Insights  

About Floship

      Floship’s global circular supply chain ecosystem solutions cover all aspects of the global supply chain, ensuring minimal operation effort for e-commerce businesses, and allowing business owners to concentrate on driving growth with investment flexibility while gaining peace of mind.

Learn more at www.floship.com or follow us on LinkedIn.

For more information about Floship, please contact:

James Linacre, PR & Communications Lead

Phone: (+852) 5333 9420

Email: [email protected]

__________________________________

1
https://www.oberlo.com/statistics/global-ecommerce-sales-growth

2
https://internetretailing.net/five-ways-that-customer-expectations-are-changing-what-the-research-says-22738/



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Historic Moment in Australia’s Energy Transition as Hazelwood Battery Energy Storage System is Commissioned


Hazelwood is Australia’s first retired coal-fired power station to host a utility-scale battery

MELBOURNE, Australia, June 13, 2023 (GLOBE NEWSWIRE) — ENGIE and project partners Eku Energy and Fluence have delivered another milestone at the site of the former Hazelwood Power Station in the Latrobe Valley in Victoria, with the commissioning of the Hazelwood Battery Energy Storage System (BESS) today. Marking a new era in Australia’s energy transition, Hazelwood is the first retired coal-fired power station to host a battery storage system in Australia and represents a key moment in repurposing former thermal assets for renewable energy technologies.

The Hazelwood BESS was officially opened on 14 June 2023 by The Hon. Lily D’Ambrosio MP, Victorian Minister for Energy & Resources, together with Rik De Buyserie, CEO, ENGIE Australia & New Zealand, Daniel Burrows, Chief Investment Officer and Head of Asia Pacific, Eku Energy, and Achal Sondhi, Vice President for Market Growth, APAC & General Manager for Australia, Fluence.

Jointly funded and developed by ENGIE and Eku Energy, the 150 MW/150 MWh Hazelwood BESS is Australia’s largest privately funded utility-scale battery. Fluence supplies, operates, and maintains the facility for the partnership and it is the first project in Australia to use Fluence’s Gridstack product to provide secure and reliable energy in Victoria and support the energy transition.

The Hon. Lily D’Ambrosio MP, Minister for Energy & Resources, Government of Victoria said, “Victoria is leading the nation in delivering battery and energy storage projects, with our ambitious energy storage targets ensuring that Victoria continues to attract industry investment and collaboration opportunities like this. The Latrobe Valley has been the home of Victoria’s energy generation for decades and new investment in technologies like energy storage will help solidify its role in our renewable energy future.”

Rik De Buyserie, CEO, ENGIE ANZ said, “ENGIE’s delivery of the Hazelwood battery is part of our commitment to building long-term, reliable assets that play a key role in the future of Australia’s energy transition. With its access to transmission and available space at site, Hazelwood is the perfect location for an asset that can grow in depth and duration, increasing the hosting capacity for renewables.”

Daniel Burrows, Chief Investment Officer and Head of Asia Pacific, Eku Energy said, “The Hazelwood battery is an example of how strong partnerships can support the deployment of battery storage systems at strategic grid locations as Australia’s existing generation fleet transitions towards higher penetrations of renewable energy resources. Storage solutions remain key to the pace at which we can transition to renewable energy and today’s event marks another proud milestone in Eku Energy’s global energy storage portfolio, as we celebrate the commissioning of 150 MW of safe, secure and reliable battery capacity to accelerate the energy transition.”

Achal Sondhi, Vice President for Market Growth, APAC & General Manager for Australia at Fluence said, “As the first project in Australia to deploy Fluence Gridstack, an energy storage product which is designed for the most demanding market applications, the Hazelwood battery is a major milestone for us. By partnering with ENGIE and Eku Energy, we are bringing Fluence’s proven advanced technology combined with over 15 years of global energy storage experience to deliver industry-leading reliability, scalability, and safety to Australia. Fluence Mosaic™ bidding software allows the Hazelwood battery to react quickly and efficiently to grid needs and maximise the revenue while allowing integration of more clean energy. Our rapidly growing Fluence team in Australia is committed to the country’s energy transition.”

The Hazelwood battery has the capacity to store the equivalent of an hour of energy generated from the rooftop solar systems of 30,000 homes. It will play a critical role in increasing renewable energy capacity in Victoria while delivering essential system services to the grid. The Hazelwood Power Station was built in the 1960s and closed in 2017 after 50 years of service, in line with ENGIE’s global strategy to be Net Zero carbon by 2045.

For further information on the Hazelwood BESS, visit https://engie.com.au/hazelwoodbattery

Note to Editor: A digital press kit with hi-res images, b-roll, speeches and fact sheets can be downloaded from here.

For further information, please contact Positive Good on behalf of ENGIE, Eku Energy and Fluence:

Susin Thoroughgood
Mobile: 0414 591 307
Email: [email protected]

Jaki Rowbottom
Mobile: 0409 238 944
Email: [email protected]

About ENGIE

ENGIE is a global reference in low-carbon energy and services. With its 96,000 employees, its customers, partners and stakeholders, the Group is committed to accelerate the transition towards a carbon-neutral world, through reduced energy consumption and more environmentally friendly solutions. Inspired by its purpose (“raison d’être”), ENGIE reconcile economic performance with a positive impact on people and the planet, building on its key businesses (gas, renewable energy, services) to offer competitive solutions to its customers. In Australia, the ENGIE ANZ joint venture with Mitsui & Co Ltd has 1,100MW of low-carbon generation capacity and more than 2,000MW of renewable energy and storage solutions under development. Our retail business, Simply Energy, has more than 730,000 gas and electricity customer accounts. ENGIE’s trading arm, Global Energy Management & Sales (GEMS) provides long-energy supply agreements, energy trading, risk management and asset management services to business customers across the ENGIE ANZ portfolio. ENGIE’s Hazelwood Rehabilitation Project is progressing the delivery of a safe, stable and sustainable site after the closure of the mine and power station in 2017.

About Eku Energy
Initially established by Macquarie’s Green Investment Group, Eku Energy is jointly owned by a Macquarie Asset Management managed fund and British Columbia Investment Management Corporation (BCI). Eku Energy’s purpose-built team brings together specialist technical capabilities, with experience across origination, development, system design, power markets and software optimisation. By combining technical, digital and financial innovation with a local partnership approach and data driven understanding of markets, we develop sophisticated revenue contracting strategies that maximise the benefits of energy storage systems in any given location.

Eku Energy’s 1GWh Australian battery portfolio in delivery includes the:

  • 150MW / 150MWh Hazelwood BESS in the Latrobe Valley, Victoria
  • 200MW / 400MWh Rangebank BESS in Cranbourne, Victoria
  • 250MW / 500MWh Big Canberra Battery in Williamsdale, Australian Capital Territory

For more information, visit Eku Energy.

About Fluence

Fluence Energy, Inc. (Nasdaq: FLNC) is a global market leader in energy storage products and services, and cloud-based software for renewables and storage. With a presence in over 40 markets globally, Fluence provides an ecosystem of offerings to drive the clean energy transition, including modular, scalable energy storage products, comprehensive service offerings, and the Fluence IQ Platform, which delivers AI-enabled digital applications for managing and optimizing renewables and storage from any provider. Fluence is transforming the way we power our world by helping customers create more resilient and sustainable electric grids.

For more information, visit our website, or follow us on LinkedIn or Twitter. To stay up to date on the latest industry insights, sign up for Fluence’s Full Potential Blog.

Forward-Looking Statements

The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding the expected operational performance of Hazelwood BESS as well as the anticipated performance of Fluence Mosaic and the optimisation for bidding on the NEM through its use. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this press release, words such as “may,” “possible,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions and variations thereof and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments, as well as a number of assumptions concerning future events, and their potential effects on our business. These forward-looking statements are not guarantees of performance, and there can be no assurance that future developments affecting our business will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, which include, but are not limited to, changes in Victoria and/or Australia’s regulatory regime and energy goals relating to renewables and energy storage, unforeseen circumstances outside of Fluence’s control which may cause the Fluence Mosaic application to terminate or not perform as anticipated and such factors set forth under Part I, Item 1A. “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended September 30, 2022, filed with the Securities and Exchange Commission (“SEC”) on December 14, 2022 and in other filings we make with the SEC from time to time. New risks and uncertainties emerge from time to time and it is not possible for us to predict all such risk factors, nor can we assess the effect of all such risk factors on our business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. You are cautioned not to place undue reliance on any forward-looking statements made in this press release. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that occur, or which we become aware of, after the date hereof, except as otherwise may be required by law.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a4fad6a7-ffab-45ad-8279-1e6dbb893d55



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Val Morgan Digital Sign Multi-Year Strategic Partnership to Represent BuzzFeed, Inc. in Australia & NZ

Val Morgan Digital Sign Multi-Year Strategic Partnership to Represent BuzzFeed, Inc. in Australia & NZ

  • Val Morgan Digital to represent BuzzFeed & Tasty, both editorially and commercially, in Australia & NZ

  • Val Morgan Digital is now the 3rd largest online media publisher in Australia that speaks to 14–39-year-old audiences, according to IPSOS Iris

SYDNEY–(BUSINESS WIRE)–
Val Morgan Digital now reaches 4.8 million Australians each month, after signing a strategic partnership that includes a multi-year content licensing partnership to represent BuzzFeed, Tasty and BringMe in the Australian and New Zealand market.

The addition of BuzzFeed and Tasty will see Val Morgan Digital reach over 4.8 million total audience speaking to 14-39 year olds – making it the 3rd largest online media publisher in the country, according to IPSOS Iris data, reaching 1 in 2 Australians in its demographic.

As part of the deal, BuzzFeed staff will move over to Val Morgan Digital. The companies will work together to expand BuzzFeed and Tasty’s advertising offering, editorial footprint and expansion into events, audio and product licensing.

Brian Florido, Managing Director of Val Morgan Digital shared, “Our monthly audience will be propelled from 3.7 million to 4.8 million, amplifying the potential for brands and advertisers to connect with highly engaged 14- to 39-year-old Gen Z and millennial audiences in the region.”

“This strategic partnership marks an important milestone in BuzzFeed’s evolution,” said Richard Alan Reid, EVP Head of Studio & International. “Including BuzzFeed’s brands in the Val Morgan Digital portfolio will unlock new exciting business opportunities and drive growth. We believe that Val Morgan Digital is the ideal local media player to take BuzzFeed and Tasty to the next level in Australia and New Zealand.”

Amanda Bardas, Publisher of Val Morgan Digital commented, “The addition of these two brands and their talented teams will enhance our existing portfolio with an unbeatable local video and social content offering, and I’m excited to welcome everyone to the VMD family.

“As the internet’s #1 most viewed food brand reaching 5 million total Australian users per month across social, Tasty has all the right ingredients to open a new opportunity for the retail and FMCG category.”

Val Morgan Digital will represent Tasty and BuzzFeed effective immediately while working through the integration of the team.

About BuzzFeed, Inc.

BuzzFeed, Inc. is home to the best of the Internet. Across food, news, pop culture and commerce, our brands drive conversation and inspire what audiences watch, read, buy, and obsess over next. Born on the Internet in 2006, BuzzFeed, Inc. is committed to making it better: providing trusted, quality, brand-safe news and entertainment to hundreds of millions of people; making content on the Internet more inclusive, empathetic, and creative; and inspiring our audience to live better lives.

Since 2015, Tasty has set the trends in digital food, known for telling original food stories, demonstrating helpful kitchen hacks, and creating viral food experiences that excite and better the future of a diverse multicultural nation of foodies. It gained rapid popularity and success through its engaging video content, designed to be short, visually appealing, and easy to follow.

About Val Morgan Digital

Val Morgan Digital is a suite of thriving media brands powered by communal passion. We believe passion-based communities are the future, and our brands, Fandom, The Latch, POPSUGAR, Thrillist, Bustle, Inverse, Tasty and BuzzFeed allow us to cultivate collaboration across all facets of contemporary culture. Val Morgan Digital now reaches over 8 million Australians each month and helps close the loop between Val Morgan Cinema and VMO, providing brands endless opportunities to connect with audiences.

Paul MacGregor

[email protected]

0410 199 033

KEYWORDS: Australia/Oceania New Zealand Australia

INDUSTRY KEYWORDS: Media Entertainment Social Media Consumer General Entertainment Digital Marketing Publishing Generation Z Advertising Communications Content Marketing Millennials

MEDIA:

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Casella Waste Systems Announces Pricing of Public Offering of 5,263,158 Shares of Class A Common Stock

RUTLAND, Vt., June 13, 2023 (GLOBE NEWSWIRE) — Casella Waste Systems, Inc. (NASDAQ: CWST), a regional solid waste, recycling and resource management services company, announced today the pricing of an underwritten public offering of 5,263,158 shares of its Class A common stock at a public offering price of $85.50 per share, before offering discounts. The offering will result in aggregate gross proceeds of approximately $450.0 million to Casella, before deducting underwriting discounts and offering expenses. Casella also granted the underwriters of the offering an option for a period of 30 days to purchase up to an additional 789,473 shares of Class A common stock. All of the shares in the offering are to be sold by Casella. The offering is expected to close on or about June 16, 2023, subject to customary closing conditions.

Casella intends to use the net proceeds from the offering to finance a portion of its previously announced acquisitions of operations from GFL Environmental Inc. and assets of Consolidated Waste Services, LLC and its affiliates, repay borrowings from its revolving credit facility and general corporate purposes.

Raymond James and Stifel are acting as joint book-running managers for the offering. UBS Investment Bank and KeyBanc Capital Markets are acting as passive book-runners for the offering.

The shares are being offered by Casella pursuant to an automatically effective shelf registration statement (including a prospectus) that was previously filed with the U.S. Securities and Exchange Commission (“SEC”). The offering is being made only by means of the written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement relating to and describing the terms of the offering was filed with the SEC on June 12, 2023, and is available on the SEC’s website at www.sec.gov. A final prospectus supplement relating to the offering will be filed with the SEC and will form a part of the registration statement, and will also be available on the SEC’s website.

Copies of the final prospectus supplement and accompanying prospectus relating to the offering, when available, may also be obtained from Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida 33716, or by telephone at (800) 248-8863, or by e-mail to [email protected]; or Stifel, Nicolaus & Company, Incorporated, Attn: Syndicate Department, One South Street, 15th Floor, Baltimore, Maryland 21202, telephone: (855) 300-7136 or email: [email protected].

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

About Casella Waste Systems, Inc.

Casella Waste Systems, Inc., headquartered in Rutland, Vermont, provides resource management expertise and services to residential, commercial, municipal, institutional and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services in the northeastern United States.

Safe Harbor Statement

Certain matters discussed in this press release, including, among others, our expectations regarding the completion of the public offering and our intended use of proceeds from the offering, are “forward-looking statements” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such by the context of the statements, including words such as “believe,” “expect,” “anticipate,” “plan,” “may,” “will,” “would,” “intend,” “estimate,” “guidance” and other similar expressions, whether in the negative or affirmative. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which Casella operates and management’s beliefs and assumptions. Casella cannot guarantee that it actually will achieve the plans, intentions or expectations disclosed in the forward-looking statements made. Such forward-looking statements involve a number of risks and uncertainties, any one or more of which could cause actual results to differ materially from those described in Casella’s forward-looking statements. Such risks and uncertainties include or relate to, among other things: risks and uncertainties relating to the satisfaction of customary closing conditions related to the public offering. Additional risks and uncertainties relating to the proposed offering, Casella and its business are discussed in the preliminary prospectus supplement related to the offering filed with the SEC on June 12, 2023 and in other filings that Casella periodically makes with the SEC. In addition, the forward-looking statements included in this press release represent Casella’s views as of the date of this press release. Casella undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing Casella’s views as of any date subsequent to the date of this press release.

Investors:

Jason Mead

Senior Vice President of Finance & Treasurer

(802) 772-2293



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ESH Acquisition Corp. Announces Pricing of $100,000,000 Initial Public Offering

NEW YORK, NEW YORK , June 13, 2023 (GLOBE NEWSWIRE) — ESH Acquisition Corp. (NASDAQ: ESHAU)  (the “Company”) today announced the pricing of its initial public offering of 10,000,000 units, at a price to the public of $10.00 per unit. The units will be listed on The Nasdaq Stock Market LLC (the “Nasdaq”) and will trade under the ticker symbol “ESHAU” beginning on June 14, 2023. Each unit consists of one share of Class A common stock and one right. Each right entitles the holder to receive one-tenth (1/10) of one share of its Class A common stock upon the consummation of the Company’s initial business combination. After the securities comprising the units begin separate trading, the shares of Class A common stock and the rights are expected to be listed on the Nasdaq under the symbols “ESHA” and “ESHAR,” respectively. The offering is expected to close on or about June 16, 2023, subject to the satisfaction of customary closing conditions.

I-Bankers Securities, Inc. and IB Capital LLC are acting as joint book-running managers for the offering and Dawson James Securities, Inc. is acting as co-manager of the offering. The underwriters have been granted a 30-day option to purchase up to an additional 1,500,000 units offered by the Company to cover over-allotments, if any.

The offering is being made only by means of a prospectus. When available, copies of the prospectus related to this offering may be obtained from I-Bankers Securities, Inc. at 2500 N Military Trail, Suite 160-A, Boca Raton, FL 33431.

A registration statement relating to the securities was declared effective by the Securities and Exchange Commission (“SEC”) on June 13, 2023. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About ESH Acquisition Corp.

The Company is a newly organized blank check company formed for  the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses or entities. While the Company may pursue an initial business combination target in any business, industry or geographical location, it intends to focus its search on businesses that are focused in the music and entertainment, sports and hospitality industries.

Forward-Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, including with respect to the closing of the offering and the anticipated use of the proceeds thereof, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements, including those set forth in the “Risk Factors” section of the preliminary prospectus used in connection with the Company’s offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. No assurance can be given the offering discussed above will be completed on the terms described, or at all, or the net proceeds of the offering will be used as indicated. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based, except as required by law.

Contact:

Jonathan Morris
[email protected]
(407) 720-9250



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Dr. Kenneth J. Widder Joins Personalis Board of Directors

Dr. Kenneth J. Widder Joins Personalis Board of Directors

FREMONT, Calif.–(BUSINESS WIRE)–
Personalis, Inc. (Nasdaq: PSNL) today announced that it has appointed Kenneth J. Widder, M.D., to its Board of Directors.

Dr. Widder currently serves on the boards of QuidelOrtho Corporation and Evoke Pharma, Inc. and has over 40 years of experience working with biomedical companies, having previously served as a founder, director and/or CEO of Sydnexis, Inc., OrphoMed, Inc., Sytera, Inc., NovaCardia, Inc., Santarus, Inc., and Molecular Biosystems Inc., and as a general partner at LVP Life Science Ventures (formerly Latterell Venture Partners) and Windamere Venture Partners. He holds an M.D. from Northwestern University and trained in pathology at Duke University.

“We are delighted to have Ken join our Board of Directors at this pivotal time for the company,” said Karin Eastham, Personalis Board Chair. “His extensive industry and board experience with diagnostic and emerging healthcare companies will be a valuable addition to our Board as the company continues to execute on its vision and build its oncology diagnostics business.”

The company also announced that Alan Colowick, M.D., has resigned his position as a director of the company, effective June 12, 2023, due to the increasing demands of his other time commitments. “On behalf of my fellow directors, the company’s management team and shareholders, I would like to thank Alan for the significant contributions he made during his years of service on the Personalis Board,” said Ms. Eastham.

About Personalis

At Personalis, we are transforming the active management of cancer through breakthrough personalized testing. We aim to drive a new paradigm for cancer management, guiding care from biopsy through the life of the patient. Our highly sensitive assays combine tumor-and-normal profiling with proprietary algorithms to deliver advanced insights even as cancer evolves over time. Our products are designed to detect minimal residual disease (MRD) and recurrence at the earliest timepoints, enable selection of targeted therapies based on ultra-comprehensive genomic profiling, and enhance biomarker strategy for drug development. Personalis is based in Fremont, California. To learn more, visit www.personalis.com and connect with us on LinkedIn and Twitter.

Personalis Forward-Looking Statements

All statements in this press release that are not historical are “forward-looking statements” within the meaning of U.S. securities laws, including statements relating to attributes or advantages of Personalis assays or products, Personalis’ business opportunities, leadership, plans, or expectations, or other future events. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any anticipated results or expectations expressed or implied by such statements. Factors that could materially affect actual results can be found in Personalis’ filings with the U.S. Securities and Exchange Commission, including Personalis’ most recent reports on Forms 8-K, 10-K and 10-Q, and include those listed under the caption “Risk Factors.” Personalis disclaims any obligation to update such forward-looking statements.

Investors:

Caroline Corner

[email protected]

415-202-5678

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Health Hospitals Other Health General Health Clinical Trials Pharmaceutical Biotechnology

MEDIA:

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Cadence and Samsung Foundry Enter Multi-Year Agreement to Expand Design IP Portfolio

Cadence and Samsung Foundry Enter Multi-Year Agreement to Expand Design IP Portfolio

Advanced memory interface IP solution expansion to SF3 and enablement of complete SF5A design IP portfolio with rich interface protocols

SAN JOSE, Calif.–(BUSINESS WIRE)–
Cadence Design Systems, Inc. (Nasdaq: CDNS) today announced ​​that it has signed a multi-year agreement with Samsung Foundry to expand the availability of Cadence’s design IP portfolio on Samsung Foundry’s SF5A process technology, the latest 5nm process variant to support automotive applications. Through this agreement, joint customers can obtain a complete design IP solution from Cadence, a collaborative partner in the Samsung Advanced Foundry Ecosystem (SAFE™), including 112/56/25/10G PHY/MAC, PCI Express® (PCIe®) 6.0/5.0/4.0/3.1 PHY/Controller, Universal Chiplet Interconnect Express™ (UCIe™) PHY/Controller, USB3.x PHY/Controller and a complete PHY and controller offering for GDDR6 and DDR5/4.

The agreement also encompasses the enablement of the latest DDR5 8400+ and GDDR7 solutions on Samsung Foundry’s advanced SF3 technology, providing a future-proof migration path for leading customers seeking a high-performance, high-bandwidth memory interface solution for designing generative AI/ML, hyperscale, and high-performance computing (HPC) applications. The Cadence® design IP solution delivers optimal power, performance, and area (PPA) with rich feature sets to enable uncompromised differentiation, versatility, and innovation for large-scale SoC designs. In addition, Cadence provides full subsystem delivery with integrated PHY and controller IP to simplify integration, minimize risks, and enable faster time to market.

“Cadence and Samsung have been collaborating closely on Samsung EDA and IP ecosystem enablement for years. Through this new multi-year IP expansion plan, we further solidify our commitment to empowering joint customers with access to a complete design IP portfolio on SF5A technology as well as the leading DDR5 8400+ and GDDR7/6 solutions on SF3,” said Jongshin Shin, EVP of Samsung Foundry and Head of IP Ecosystem.

“Cadence is committed to expanding our IP portfolio to address our customers’ evolving design requirements,” said Rishi Chugh, vice president of product marketing in the IP Group at Cadence. “Through this collaboration with Samsung, we can deliver a rich set of high-performance IP with competitive PPA that meets the most demanding requirements for HPC, AI/ML, networking, storage, and automotive applications. Developing the latest GDDR7 IP on SF3 demonstrates our leadership in this market segment.”

Active customer engagements for these IP cores are currently underway. For more information about Cadence design IP solutions, please visit www.cadence.com/go/SFIP.

About Cadence

Cadence is a pivotal leader in electronic systems design, building upon more than 30 years of computational software expertise. The company applies its underlying Intelligent System Design™ strategy to deliver software, hardware and IP that turn design concepts into reality. Cadence customers are the world’s most innovative companies, delivering extraordinary electronic products from chips to boards to complete systems for the most dynamic market applications, including hyperscale computing, 5G communications, automotive, mobile, aerospace, consumer, industrial and healthcare. For nine years in a row, Fortune magazine has named Cadence one of the 100 Best Companies to Work For. Learn more at cadence.com.

© 2023 Cadence Design Systems, Inc. All rights reserved worldwide. Cadence, the Cadence logo and the other Cadence marks found at www.cadence.com/go/trademarks are trademarks or registered trademarks of Cadence Design Systems, Inc. PCI Express and PCIe are registered trademarks of PCI-SIG. Chiplet Interconnect Expressand UCIe are trademarks of the UCIe Consortium.All other trademarks are the property of their respective owners.

Category: Featured

Cadence Newsroom

408-944-7039

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Technology Hardware Electronic Design Automation Semiconductor

MEDIA:

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Amplify ETFs to Liquidate the Amplify Digital & Online Trading ETF (BIDS)

LISLE, Ill., June 13, 2023 (GLOBE NEWSWIRE) — Amplify ETFs today announced the scheduled liquidation of the Amplify Digital & Online Trading ETF (NYSE Arca: BIDS) (the “Fund”). Based upon the recommendation of Amplify Investments LLC, the Funds’ investment adviser, the Board of Trustees of the Amplify ETF Trust unanimously determined it is in the best interests of the Fund and its shareholders to liquidate the Fund.

The Fund will no longer accept creation or redemption orders after the close of business on June 29, 2023. Shareholders may sell their shares in the Fund prior to the end of trading on July 5, 2023. Customary brokerage charges may apply to these transactions. The Fund will cease trading at the end of the trading day on July 5, 2023.

The Fund will be liquidated and a final distribution to shareholders of the Fund is expected to occur on or around July 11, 2023. Any person holding shares in the Fund as of the liquidation date will receive a cash redemption amount equal to the net asset value of their shares as of that date. Shareholders will generally recognize a capital gain or loss on any redemption.

Amplify Investments will bear all fees and expenses that may be incurred in connection with the liquidation of the Funds and the distribution of cash proceeds to investors, other than brokerage fees and other related expenses.

For additional information about the liquidation, shareholders of the Funds may visit amplifyetfs.com/bids or call 855-267-3837.

About Amplify ETFs

Amplify ETFs, sponsored by Amplify Investments, has over $4.2 billion in assets across its suite of ETFs (as of 5/31/2023). Amplify believes the ETF structure empowers investors through efficiency, transparency, and flexibility. Amplify ETFs deliver expanded investment opportunities for investors seeking growth, income, and risk-managed strategies.

Sales Contact:

Amplify ETFs
855-267-3837
[email protected]

Media Contact:

Gregory FCA for Amplify ETFs
Kerry Davis
610-228-2098
[email protected]

Carefully consider the Funds’ respective investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Funds’ respective statutory and summary prospectus, which may be obtained by calling 855-267-3837 or by visiting

AmplifyETFs.com

. Read each prospectus carefully before investing.

Investing involves risk, including the possible loss of principal.

Amplify ETFs are distributed by Foreside Fund Services, LLC