Aurora Cannabis Announces Supply Agreement with SNDL

PR Newswire

NASDAQ | TSX: ACB

Agreement Complements Existing Relationship Focused on the Supply of Premium Cannabis 


EDMONTON, AB
, February 6, 2025 /PRNewswire/ – Aurora Cannabis Inc. (the “Company” or “Aurora”) (NASDAQ: ACB) (TSX: ACB) –the Canadian based leading global medical cannabis company, is pleased to announce a strategic supply agreement (the “Agreement”) with SNDL Inc. (“SNDL”), a Canadian licensed producer and vertically integrated cannabis enterprise.

Under this Agreement, SNDL is expected to supply Aurora with premium cannabis flower product grown at SNDL’s indoor facility in Atholville, New Brunswick. The term of the agreement is for three years with an option to extend and an estimated value of $27 million. Aurora and SNDL have an existing and successful supply relationship for the manufacturing of various cannabis products and input material.

“Following our strong, third quarter performance driven by record setting growth in our international medical cannabis segment, Aurora remains focused on a balanced approach to operating a hybrid manufacturing network of in-house and third-party cultivation. We value our relationship with SNDL and their shared commitment to cultivation excellence,” said Miguel Martin, Executive Chairman and Chief Executive Officer of Aurora Cannabis.

“As Canada’s leading integrated cannabis company, SNDL is well positioned as a supplier of quality cannabis products to commercial partners like Aurora. We have a shared approach to quality and cultivation excellence and look forward to expanding this relationship further,” said Zach George, Chief Executive Officer of SNDL. 

About Aurora Cannabis 

Aurora is opening the world to cannabis, serving both the medical and consumer markets across Canada, Europe and Australia. Headquartered in Edmonton, Alberta, Aurora is a pioneer in global cannabis, dedicated to helping people improve their lives. The Company’s adult- use brand portfolio includes Aurora Drift, San Rafael ’71, Daily Special, Tasty’s, Being and Greybeard. Medical cannabis brands include MedReleaf, CanniMed, Aurora and Whistler Medical Marijuana Co, as well as international brands, Pedanios, IndiMed and CraftPlant. Aurora also has a controlling interest in Bevo Farms Ltd., North America’s leading supplier of propagated agricultural plants. Driven by science and innovation, and with a focus on high-quality cannabis products, Aurora’s brands continue to break through as industry leaders in the medical, wellness and adult recreational markets wherever they are launched. Learn more at www.auroramj.com and follow us on X and LinkedIn

Aurora’s Common Shares trade on the NASDAQ and TSX under the symbol “ACB”.

Contact

For Investors: ICR, Inc. | [email protected]                                   

Forward Looking Information  

This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements made in this news release include, but are not limited to, statements regarding the Company’s supply agreement and relationship with SNDL, including but not limited to the contract term and expected value, expectations related to the supply of flower product from SNDL and the Company’s focus on a balanced approach to operating a hybrid manufacturing network of in-house and third-party cultivation.

These forward-looking statements are only predictions. Forward looking information or statements contained in this news release have been developed based on assumptions management considers to be reasonable. Material factors or assumptions involved in developing forward-looking statements include, without limitation, publicly available information from governmental sources as well as from market research and industry analysis and on assumptions based on data and knowledge of this industry which the Company believes to be reasonable. Forward-looking statements are subject to a variety of risks, uncertainties and other factors that management believes to be relevant and reasonable in the circumstances could cause actual events, results, level of activity, performance, prospects, opportunities or achievements to differ materially from those projected in the forward-looking statements. These risks include, but are not limited to, the ability to retain key personnel, the ability to continue investing in infrastructure to support growth, the ability to obtain financing on acceptable terms, the continued quality of our products, customer experience and retention, the development of third party government and non-government consumer sales channels, management’s estimates of consumer demand in Canada and in jurisdictions where the Company exports, expectations of future results and expenses, the risk of successful integration of acquired business and operations (with respect to the Transaction and more generally with respect to future acquisitions), management’s estimation that SG&A will grow only in proportion of revenue growth, the ability to expand and maintain distribution capabilities, the impact of competition, the general impact of financial market conditions, the yield from cannabis growing operations, product demand, changes in prices of required commodities, competition, and the possibility for changes in laws, rules, and regulations in the industry, epidemics, pandemics or other public health crises and other risks, uncertainties and factors set out under the heading “Risk Factors” in the Company’s annual information from dated June 20, 2024 (the “AIF”) and filed with Canadian securities regulators available on the Company’s issuer profile on SEDAR+ at www.sedarplus.com and filed with and available on the SEC’s website at www.sec.gov. The Company cautions that the list of risks, uncertainties and other factors described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law. 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/aurora-cannabis-announces-supply-agreement-with-sndl-302370822.html

SOURCE Aurora Cannabis Inc.

RenovoRx Announces Pricing of $12.1 Million Underwritten Public Offering of Common Stock

RenovoRx Announces Pricing of $12.1 Million Underwritten Public Offering of Common Stock

MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–
RenovoRx, Inc. (“RenovoRx” or the “Company”) (Nasdaq: RNXT), a life sciences company developing novel targeted oncology therapies and commercializing RenovoCath®, a novel, FDA-cleared delivery platform, today announced the pricing of a firm commitment, underwritten public offering of 11,523,810 shares of its common stock at a price to the public of $1.05 per share. All shares in the offering are being sold by RenovoRx.

The gross proceeds from the offering are expected to be approximately $12.1 million before deducting underwriting discounts and commissions and offering expenses. The offering is expected to close on February 10, 2025, subject to satisfaction of customary closing conditions.

RenovoRx intends to use the net proceeds received from the offering for working capital and general corporate purposes, including continued progression of its Phase III TIGeR-PaC study and the continued development and execution of commercial sales and marketing activities for RenovoCath as a standalone device.

Titan Partners Group, a division of American Capital Partners, is acting as the sole bookrunner for the offering.

The shares of common stock will be issued pursuant to a shelf registration statement on Form S-3 (File No. 333-268302) previously filed with the Securities and Exchange Commission (the “SEC”) on November 10, 2022, which became effective on November 21, 2022. The offering is being made only by means of a prospectus supplement and the accompanying base prospectus. A final prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC’s website, located at www.sec.gov. Copies of the final prospectus supplement and the accompanying base prospectus relating to the offering, when available, may be obtained by contacting Titan Partners Group LLC, a division of American Capital Partners, LLC, 4 World Trade Center, 29th Floor, New York, NY 10007, by phone at (929) 833-1246 or by email at [email protected].

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

About RenovoRx, Inc.

RenovoRx is a life sciences company developing novel targeted oncology therapies and commercializing RenovoCath®, a novel, U.S. Food and Drug Administration (FDA)-cleared local drug-delivery platform, targeting high unmet medical needs. RenovoRx’s patented Trans-Arterial Micro-Perfusion (TAMP™) therapy platform is designed to ensure precise therapeutic delivery across the arterial wall near the tumor site to bathe the target tumor, while potentially minimizing a therapy’s toxicities versus systemic intravenous therapy. RenovoRx’s novel approach to targeted treatment offers the potential for increased safety, tolerance, and improved efficacy, and its mission is to transform the lives of cancer patients by providing innovative solutions to enable targeted delivery of diagnostic and therapeutic agents.

RenovoRx’s Phase III lead product candidate is a novel oncology drug-device combination product. It is being investigated under a U.S. investigational new drug application that is regulated by the FDA’s 21 CFR 312 pathway. The investigational drug-device combination candidate utilizes RenovoCath, the Company’s FDA-cleared drug-delivery device, indicated for temporary vessel occlusion in applications including arteriography, preoperative occlusion, and chemotherapeutic drug infusion. The intra-arterial infusion of chemotherapy, gemcitabine, utilizing the RenovoCath catheter is currently being evaluated for the treatment of locally advanced pancreatic cancer (LAPC) by the Center for Drug Evaluation and Research (the drug division of FDA).

The intra-arterial infusion of gemcitabine by the RenovoCath catheter is currently under investigation and has not been approved for commercial sale. RenovoCath with gemcitabine received Orphan Drug Designation for pancreatic cancer and bile duct cancer, which provides 7 years of market exclusivity upon NDA approval by the FDA.

RenovoRx is also engaged in implementing commercialization strategies utilizing its TAMP technology and FDA-cleared RenovoCath delivery system as a stand-alone device. In December 2024, RenovoRx announced the receipt of its first commercial purchase orders for RenovoCath devices. Additionally, over ten medical institutions have initiated the process for RenovoCath purchase orders. To meet and satisfy the anticipated demand, RenovoRx will continue to actively explore further revenue-generating activity either on its own or in tandem with a medical device commercial partner.

For more information, visit www.renovorx.com. Follow RenovoRx on Facebook, LinkedIn, and X.

Cautionary Note Regarding Forward-Looking Statements

This press release and statements of the Company’s management made in connection therewith and at the investor conference described herein contain 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, including but not limited to statements regarding the timing and completion of the proposed public offering as well as the expected use of proceeds related thereto. Statements that are not purely historical are forward-looking statements. The forward-looking statements contained herein are based upon the Company’s current expectations and beliefs regarding future events, many of which, by their nature, are inherently uncertain, outside of the Company’s control and involve assumptions that may never materialize or may prove to be incorrect. These may include estimates, projections and statements relating to the Company’s research and development plans, intellectual property development, clinical trials, the Company’s therapy platform, business plans, financing plans, objectives and expected operating results, which are based on current expectations and assumptions that are subject to known and unknown risks and uncertainties that may cause actual results to differ materially and adversely from those expressed or implied by these forward-looking statements. These statements may be identified using words such as “may,” “expects,” “plans,” “aims,” “anticipates,” “believes,” “forecasts,” “estimates,” “intends,” and “potential,” or the negative of these terms or other comparable terminology regarding RenovoRx’s expectations strategy, plans or intentions, although not all forward-looking statements contain these words. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, that could cause actual events to differ materially from those projected or indicated by such statements, including, among other things: RenovoRx’s ability to complete the offering on the proposed terms, or at all, changes in market conditions, and RenovoRx’s expectations related to the use of proceeds from the proposed offering. Information regarding the foregoing and additional risks may be found in the section entitled “Risk Factors” in documents that the Company files from time to time with the SEC.

Forward-looking statements included herein are made as of the date hereof, and RenovoRx does not undertake any obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as required by law.

KCSA Strategic Communications

Valter Pinto or Jack Perkins

T:212-896-1254

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Biotechnology Pharmaceutical Oncology General Health Health Medical Devices Health Technology Other Health

MEDIA:

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Cencora Announces Common Share Repurchase From Walgreens Boots Alliance

Cencora Announces Common Share Repurchase From Walgreens Boots Alliance

CONSHOHOCKEN, Pa.–(BUSINESS WIRE)–
Cencora, Inc. (NYSE: COR) today announced that it has agreed to repurchase shares of its common stock from Walgreens Boots Alliance Holdings LLC in the amount of approximately $50 million in concurrence with Walgreens Boots Alliance’s sale of Cencora shares pursuant to Rule 144 under the Securities Act of 1933, as amended.

Cencora intends to repurchase shares from Walgreens Boots Alliance at the price per share equal to the price in the Rule 144 sale. The concurrent share repurchase will be made under Cencora’s share repurchase program and the repurchased shares will be held in treasury.

The sale of Cencora shares by Walgreens Boots Alliance is occurring simultaneously with the early settlement of certain previously disclosed variable prepaid forward sale contracts with financial institutions and the return of certain Cencora shares pledged to the financial institutions as security for those contracts. Walgreens Boots Alliance’s remaining ownership of Cencora’s common stock continues to be pledged to financial institutions to secure its obligations under other existing variable prepaid forward sale contracts.

About Cencora

Cencora is a leading global pharmaceutical solutions organization centered on improving the lives of people and animals around the world. We partner with pharmaceutical innovators across the value chain to facilitate and optimize market access to therapies. Care providers depend on us for the secure, reliable delivery of pharmaceuticals, healthcare products, and solutions. Our 46,000+ worldwide team members contribute to positive health outcomes through the power of our purpose: We are united in our responsibility to create healthier futures. Cencora is ranked #10 on the Fortune 500 and #18 on the Global Fortune 500 with more than $290 billion in annual revenue.

Bennett S. Murphy

Senior Vice President, Head of Investor Relations & Treasury

[email protected]

KEYWORDS: United States North America Pennsylvania

INDUSTRY KEYWORDS: Professional Services Health Finance General Health Banking Pharmaceutical

MEDIA:

Walgreens Boots Alliance Early-Settles Certain Prepaid Variable Share Forward Transactions and Sells Related Shares of Cencora For Approximately $300 Million of Proceeds

Walgreens Boots Alliance Early-Settles Certain Prepaid Variable Share Forward Transactions and Sells Related Shares of Cencora For Approximately $300 Million of Proceeds

Transaction Highlights

  • Walgreens Boots Alliance announces early settlement of certain prepaid variable share forward transactions with respect to shares of Cencora for delivery of an aggregate 6.1 million shares

  • Concurrent with the early settlement, the Company executed a sale of the remaining 1.3 million shares of Cencora pledged under the early settled contracts. The Company receives approximately $300 million from the early settlement and the concurrent sale of shares

  • Following today’s early settlement, the Company owns approximately 12.6 million shares of Cencora pledged under the remaining prepaid variable share forward contracts, which have the potential to provide additional cash proceeds at maturity. These remaining prepaid variable share forward contracts are mainly scheduled to mature during March, June and September of calendar year 2025.

  • Use of proceeds will primarily be for debt paydown, as the Company proactively seeks to address its debt maturities in fiscal year 2026, and for general corporate purposes

DEERFIELD, Ill.–(BUSINESS WIRE)–
Walgreens Boots Alliance, Inc. (Nasdaq: WBA) has agreed to the early settlement of certain prepaid variable share forward transactions it had previously entered into with various financial institutions, with respect to shares of Cencora, Inc. (NYSE: COR). Under these transactions, the Company had previously received cash payments in an aggregate amount of approximately $1.1 billion on or about the dates of first entering into them. The transactions were scheduled to mature during March and June of calendar year 2026.

As part of the early settlement of the transactions prior to their scheduled maturities, WBA will deliver to the financial institutions an aggregate of approximately 6.1 million shares of Cencora, while paying a net aggregate cash payment of approximately $20 million. The transaction fulfills the Company’s obligations to deliver shares at a future date to each financial institution participating in the early settlement. These contracts have accreted cash value to the Company as a result of participation in the appreciation of Cencora’s stock since entering the transactions in 2023. The early settlement together with the concurrent share sale realizes the embedded cash value that exists in the prepaid variable share forwards.

Concurrent with these early settlements, WBA today announced that it has sold shares of Cencora common stock in an unregistered block trade pursuant to Rule 144 for proceeds of approximately $265 million, and has sold additional shares in a share repurchase by Cencora for additional proceeds of approximately $50 million.

Proceeds to WBA will be used primarily for debt paydown and general corporate purposes. The proceeds from these transactions as well as other actions, including the recent suspension of the dividend, further help position the Company to address its upcoming debt maturities in fiscal 2026.

Walgreens Boots Alliance’s ownership of Cencora’s common stock has decreased from approximately 10 percent to approximately six percent.

The sale has no impact to the long-term partnership between the two companies. Walgreens Boots Alliance remains fully committed to the strategic, mutually beneficial relationship with Cencora, which has been a strong and trusted partner since 2013. Chief Operating Officer, International of Walgreens Boots Alliance, Ornella Barra, will continue to serve on Cencora’s Board of Directors.

About Walgreens Boots Alliance

Walgreens Boots Alliance (Nasdaq: WBA) is an integrated healthcare, pharmacy and retail leader serving millions of customers and patients every day, with a 175-year heritage of caring for communities.

A trusted, global innovator in retail pharmacy with approximately 12,500 locations across the U.S., Europe and Latin America, WBA plays a critical role in the healthcare ecosystem. Through dispensing medicines, improving access to pharmacy and health services, providing high quality health and beauty products and offering anytime, anywhere convenience across its digital platforms, WBA is shaping the future of healthcare in the thousands of communities it serves and beyond.

WBA employs approximately 311,000 people, with a presence in eight countries and consumer brands including: Walgreens, Boots, Duane Reade, No7 Beauty Company and Benavides. The Company is proud of its contributions to healthy communities, a healthy planet, an inclusive workplace and a sustainable marketplace. In fiscal 2024, WBA scored 100% on the Disability Equality Index for disability inclusion.

More Company information is available at www.walgreensbootsalliance.com.

(WBA-GEN)

WBA Media Relations

USA / Jim Cohn, [email protected]

WBA Investor Relations

Eric Wasserstrom, [email protected]

KEYWORDS: Illinois United States North America

INDUSTRY KEYWORDS: Other Retail Convenience Store Other Health Health Cosmetics Pharmaceutical General Health Retail Online Retail

MEDIA:

$TOCKHOLDER ALERT: The M&A Class Action Firm Urges Shareholders of OMIC, BERY, WMPN, ALVR to Act Now

PR Newswire


NEW YORK
, Feb. 6, 2025 /PRNewswire/ — Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm by ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating:

  • Singular Genomics Systems, Inc. (Nasdaq:

    OMIC

    ), relating to the proposed merger with Deerfield Management Company, L.P. Under the terms of the agreement, Deerfield will acquire Singular Genomics in an all-cash transaction for $20.00 per share.

ACT NOW. The Shareholder Vote is scheduled for February 19, 2025.

Click here for more
https://monteverdelaw.com/case/singular-genomics-systems-inc-omic/. It is free and there is no cost or obligation to you.

  • Berry Global Group, Inc. (NYSE:

    BERY

    ), relating to the proposed merger with AMCOR plc. Under the terms of the agreement, Berry shareholders will receive a fixed exchange ratio of 7.25 Amcor shares for each Berry share held upon closing, resulting in Amcor and Berry shareholders owning approximately 63% and 37% of the combined company, respectively.

ACT NOW. The Shareholder Vote is scheduled for February 25, 2025.

Click here for more information
 https://monteverdelaw.com/case/berry-global-group-inc-bery/. It is free and there is no cost or obligation to you.

  • William Penn Bancorporation (Nasdaq:

    WMPN

    ), relating to its proposed merger with Mid Penn Bancorp, Inc. Under the terms of the agreement, shareholders of William Penn will receive 0.4260 shares of Mid Penn common stock for each share of William Penn common stock. Additionally, all options of William Penn will be rolled into Mid Penn equivalent options. The implied transaction value is approximately $13.58 per William Penn share.

ACT NOW. The Shareholder Vote is scheduled for April 2, 2025.

Click here for more information
https://monteverdelaw.com/case/william-penn-bancorporation-wmpn/. It is free and there is no cost or obligation to you.

  • AlloVir, Inc. (Nasdaq:

    ALVR

    ), relating to its proposed merger with Kalaris Therapeutics. Under the terms of the agreement, AlloVir will acquire 100% of the outstanding equity interest of Kalaris. Upon completion, pre-Merger AlloVir stockholders are expected to own approximately 25.05% of the combined company.

ACT NOW. The Shareholder Vote is scheduled for March 12, 2025.

Click here for more information 
https://monteverdelaw.com/case/allovir-inc-alvr/. It is free and there is no cost or obligation to you.

NOT ALL LAW FIRMS ARE THE SAME. Before you hire a law firm, you should talk to a lawyer and ask:

  1. Do you file class actions and go to Court?
  2. When was the last time you recovered money for shareholders?
  3. What cases did you recover money in and how much?

About Monteverde & Associates PC

Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court. 

No company, director or officer is above the law. If you own common stock in any of the above listed companies and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at [email protected] or by telephone at (212) 971-1341.

Contact:
Juan Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4740
New York, NY 10118
United States of America
[email protected]
Tel: (212) 971-1341

Attorney Advertising. (C) 2024 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com).  Prior results do not guarantee a similar outcome with respect to any future matter.

SOURCE Monteverde & Associates PC

$HAREHOLDER ALERT: The M&A Class Action Firm Investigates the Merger of Acelyrin, Inc. – SLRN

PR Newswire


NEW YORK
, Feb. 6, 2025 /PRNewswire/ — Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm by ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating Acelyrin, Inc. (Nasdaq: SLRN), relating to the proposed merger with Alumis Inc. Under the terms of the agreement, Acelyrin stockholders will receive 0.4274 shares of Alumis common stock per share of common stock owned. Upon the close of the transaction, Acelyrin stockholders will own approximately 45% of the combined company.

Click here for more
https://monteverdelaw.com/case/acelyrin-inc-slrn/. It is free and there is no cost or obligation to you.

NOT ALL LAW FIRMS ARE THE SAME. Before you hire a law firm, you should talk to a lawyer and ask:

  1. Do you file class actions and go to Court?
  2. When was the last time you recovered money for shareholders?
  3. What cases did you recover money in and how much?

About Monteverde & Associates PC

Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court. 

No company, director or officer is above the law. If you own common stock in the above listed company and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at [email protected] or by telephone at (212) 971-1341.

Contact:
Juan Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4740
New York, NY 10118
United States of America
[email protected]
Tel: (212) 971-1341

Attorney Advertising. (C) 2024 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/hareholder-alert-the-ma-class-action-firm-investigates-the-merger-of-acelyrin-inc–slrn-302370760.html

SOURCE Monteverde & Associates PC

MISTRAS Group Mourns the Passing of Founder & Chairman Emeritus Dr. Sotirios J. Vahaviolos

PRINCETON JUNCTION, N.J., Feb. 06, 2025 (GLOBE NEWSWIRE) — The Board of Directors of MISTRAS Group, Inc. (NYSE: MG) is deeply saddened to announce the passing of Dr. Sotirios J. Vahaviolos, the company’s Founder, Chairman Emeritus, and Board Director, on Thursday, February 6, 2025.

A visionary leader and pioneer in the field of non-destructive testing (NDT) and acoustic emission (AE), Dr. Vahaviolos founded MISTRAS (originally Physical Acoustics Corporation) in 1978 and dedicated over four decades to building it into a global leader in testing, inspection, and asset protection solutions. His expertise, leadership, and commitment to excellence were instrumental in shaping the company’s strategic direction and fostering a culture of innovation that remains at the core of MISTRAS today.

“On behalf of the entire MISTRAS family, I want to express our profound appreciation for the immeasurable contributions Dr. Vahaviolos has made to our company, our shareholders, and the communities we serve,” said Manny Stamatakis, Executive Chairman of the Board of Directors. “He built a diversified enterprise that now provides jobs to over 5,000 employees across the U.S., Canada, and several other countries. He was a man of honor and integrity, and he will be deeply missed.”

Dr. Vahaviolos and the Board of Directors took careful measures over the years to ensure a seamless transition and continuity of leadership. MISTRAS will continue to operate as planned, with no changes to the company’s management or strategic direction.

Prior to founding MISTRAS, Dr. Vahaviolos was a scientist and manager at AT&T Bell Laboratories, where he honed his expertise in electrical engineering and advanced NDT technologies. A distinguished academic, he earned a B.S. in Electrical Engineering (graduating first in his class) from Fairleigh Dickinson University, followed by an M.S., M.Phil., and Ph.D. in Electrical Engineering from Columbia University School of Engineering.

Throughout his career, Dr. Vahaviolos was recognized as a Fellow of the Institute of Electrical and Electronics Engineers (IEEE), the American Society of Nondestructive Testing (ASNT), and the Acoustic Emission Working Group (AEWG). He also served as ASNT’s President (1992-1993) and Chairman (1993-1994) and received Gold Medals from ASNT (2001) and AEWG (2005) in recognition of his contributions to the field, in addition to several other accolades from various respected industry and scientific organizations.

Beyond his professional accolades, Dr. Vahaviolos was one of the six founders of NDT Academia International in 2008, further demonstrating his dedication to advancing nondestructive testing worldwide.

The MISTRAS family will be honoring Dr. Vahaviolos’ life and legacy in the days ahead. In the meantime, our thoughts and prayers are with his wife, family, and many friends during this difficult time.

About MISTRAS Group, Inc. – One Source for Asset Protection Solutions

MISTRAS Group, Inc. (NYSE: MG) is a leading “one source” multinational provider of integrated technology-enabled asset protection solutions, helping to maximize the safety and operational uptime for civilization’s most critical industrial and civil assets.

Backed by an innovative, data-driven asset protection portfolio, proprietary technologies, strong commitment to Environmental, Social, and Governance (ESG) initiatives, and a decades-long legacy of industry leadership, MISTRAS leads clients in oil and gas, aerospace and defense, renewable and nonrenewable power, civil infrastructure, and manufacturing industries towards achieving operational and environmental excellence. By supporting these organizations that help fuel our vehicles and power our society, inspecting components that are trusted for commercial, defense, and spacecraft; building real-time monitoring equipment to enable safe travel across bridges; and helping to propel sustainability, MISTRAS helps the world at large.

MISTRAS enhances value for its clients by integrating asset protection throughout supply chains and centralizing integrity data through a suite of Industrial IoT-connected digital software and monitoring solutions. The company’s core capabilities also include non-destructive testing field and in-line inspections enhanced by advanced robotics, laboratory quality control and assurance testing, sensing technologies and NDT equipment, asset and mechanical integrity engineering services, and light mechanical maintenance and access services.

For more information about how MISTRAS helps protect civilization’s critical infrastructure and the environment, visit https://www.mistrasgroup.com/.

Contact:

Nestor S. Makarigakis
Group Vice President, Marketing and Communications
MISTRAS Group, Inc.
[email protected]
+1 (609) 716-4000



Sionna Therapeutics Prices Upsized Initial Public Offering

BOSTON, Feb. 06, 2025 (GLOBE NEWSWIRE) — Sionna Therapeutics Inc. (Nasdaq: SION), a clinical-stage biopharmaceutical company on a mission to revolutionize the current treatment paradigm for cystic fibrosis (CF) by developing novel medicines that normalize the function of the cystic fibrosis transmembrane conductance regulator (CFTR) protein, today announced the pricing of its upsized initial public offering of 10,588,233 shares of its common stock at a public offering price of $18.00 per share. In addition, Sionna has granted the underwriters a 30-day option to purchase up to 1,588,234 additional shares of its common stock at the public offering price, less underwriting discounts and commissions. Sionna’s shares are scheduled to begin trading on the Nasdaq Global Market on February 7, 2025 under the ticker symbol “SION.” The offering is expected to close on February 10, 2025, subject to the satisfaction of customary closing conditions. All shares of common stock are being offered by Sionna.

The gross proceeds from the initial public offering are expected to be approximately $191 million, before deducting underwriting discounts and commissions and other offering expenses, and excluding any exercise of the underwriters’ option to purchase additional shares of common stock.

Goldman Sachs & Co. LLC, TD Cowen, Stifel, and Guggenheim Securities are acting as joint book-running managers for the offering.

A registration statement relating to the securities being sold in the initial public offering has been filed with the Securities and Exchange Commission and was declared effective on February 6, 2025. This offering is being made only by means of a prospectus. A copy of the final prospectus, when available, may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, via telephone: (866) 471-2526, via fax: 212 902-9316, or via email: [email protected]; TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, NY 10017, by telephone at (855) 495-9846, or by email at [email protected]; Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, or by telephone at (415) 364-2720, or by email at [email protected]; and Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, or by telephone at (212) 518-9544 or by email at [email protected].

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

About Sionna Therapeutics

Sionna Therapeutics is a clinical-stage biopharmaceutical company on a mission to revolutionize the current treatment paradigm for CF by developing novel medicines that normalize the function of the CFTR protein. Sionna’s goal is to deliver differentiated medicines for people living with CF that can restore their CFTR function to as close to normal as possible by directly stabilizing CFTR’s nucleotide-binding domain 1 (NBD1), which the company believes is central to potentially unlocking dramatic improvements in clinical outcomes and quality of life for people with CF. Leveraging more than a decade of the co-founders’ research on NBD1, the company is advancing a pipeline of small molecules engineered to correct the defects caused by the F508del genetic mutation, which resides in NBD1. Sionna is also developing a portfolio of complementary CFTR modulators that are designed to work synergistically with its NBD1 stabilizers to improve CFTR function.

Cautionary Note Regarding Forward-Looking Statements

This press release includes certain disclosures that contain “forward-looking statements,” including, without limitation, statements regarding Sionna’s expectations regarding the commencement of trading of its shares on the Nasdaq Global Market, the completion and timing of the closing of the offering and the anticipated gross proceeds from the offering. Forward-looking statements are based on Sionna’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, risks and uncertainties related to market conditions, the satisfaction of customary closing conditions and the completion of the offering, and the risks inherent in pharmaceutical product development and clinical trials. These and other risks and uncertainties are described more fully in the “Risk Factors” section of the registration statement filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Sionna undertakes no duty to update such information except as required under applicable law. Readers should not rely upon the information in this press release as current or accurate after its publication date.

Media Contact

Adam Daley
CG Life
212.253.8881
[email protected]

Investor Contact

Juliet Labadorf
[email protected]



$107 Million Construction Financing Arranged by Marcus & Millichap Capital Corporation for Los Angeles Area Mixed-Use Property

$107 Million Construction Financing Arranged by Marcus & Millichap Capital Corporation for Los Angeles Area Mixed-Use Property

ONTARIO, Calif.–(BUSINESS WIRE)–Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $107 million in financing for the construction of a 384-unit multifamily asset with 26,000 square feet of retail space located at 4117 E Concours Street in Ontario, California. The project, which is adjacent to the Toyota Arena, will include several digital media signs.

Stefen Chraghchian, senior director in MMCC’s Encino office, secured the financing with Affinius Capital and Bank OZK on behalf of Adept Urban Development.

“We thank our client for their trust in our expertise to arrange the construction financing for this transformative development, allowing their vision for this site to come to life,” said Chraghchian. “We navigated through a challenging lending environment to provide them with highly competitive terms. Adept Ontario, the development project, represents a profound commitment to a region in Southern California that is experiencing continued population and job growth. As the first phase of a master-planned development, Adept Ontario will bring a distinctive range of unit types and amenities that are generally unavailable in the Inland Empire market.”

About Marcus & Millichap Capital Corporation

Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. MMCC provides commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, sponsor equity, loan sales and consultative and due diligence services. In 2023, MMCC closed 1,076 transactions totaling $6.73 billion. To learn more, please visit: marcusmillichap.com/financing.

About Marcus & Millichap, Inc. (NYSE:MMI)

Marcus & Millichap, Inc. is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com

Gina Relva, VP of Public Relations

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Professional Services Residential Building & Real Estate Commercial Building & Real Estate Finance Construction & Property REIT

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CPKC dedicates Patrick J. Ottensmeyer International Railway Bridge

PR Newswire


CALGARY, AB
, Feb. 6, 2025 /PRNewswire/ – Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC) today officially opened the Patrick J. Ottensmeyer International Railway Bridge with a ceremonial ribbon cutting held over the Rio Grande.

“The name Patrick J. Ottensmeyer will forever be a part of the proud history of Kansas City Southern and the legacy of CPKC,” said Keith Creel, CPKC President and CEO. “Pat believed strongly in the work our railroaders do every day enabling trade amongst great nations. His leadership and vision led to the development and completion of the second span of the international bridge between the United States and Mexico at North America’s largest inland gateway. Having it bear his name is a fitting tribute to a remarkable leader and person.”  

Ottensmeyer served as final president and CEO of Kansas City Southern (KCS) from 2015 until April 14, 2023, upon the completion of the combination of Canadian Pacific and KCS that created CPKC. He passed away in July 2024.

Among his many career recognitions, Ottensmeyer received the North American Rail Shippers Association Edward R. Hamberger Lifetime Achievement Award in 2023. He was a two-time Railway Age Railroader of the Year (2020 and 2022) and received Progressive Railroading‘s Railroad Innovator Award in 2019. An advocate of North American trade, Ottensmeyer also served as the U.S. Chairman of the U.S. Chamber of Commerce’s U.S.-Mexico Economic Council (USMXECO) from 2019 to 2023. In this role as leader of the U.S.-Mexico CEO Dialogue, he was instrumental in representing business interests during the formation of the United States-Mexico-Canada Agreement (USMCA) from 2017-2020.

The Ottensmeyer bridge is the only railroad bridge crossing the Rio Grande River linking Laredo, Texas, and Nuevo Laredo, Tamaulipas, across the U.S.-Mexico border. The $100 million bridge more than doubles the capacity at the border of the most secure and efficient railway trade corridor between the United States and Mexico, the U.S.’s largest trading partner. The U.S. Presidential Permit for construction of the new bridge span was received in July 2020.

Key features of the Ottensmeyer Bridge:

  • New second track bridge with total length of 1,170 feet.
  • Ballasted deck plate girder bridge built with six reinforced concrete piers.
  • Second track bridge constructed on the right-of-way roughly 35 feet from existing track bridge, allowing trains to operate in both directions at the same time.
  • 4,500 feet of new track.
  • Enhanced border security investments, including a new VACIS X-ray railcar inspection system and surveillance cameras.

About CPKC
With its global headquarters in Calgary, Alta., Canada, CPKC is the first and only single-line transnational railway linking Canada, the United States and México, with unrivaled access to major ports from Vancouver to Atlantic Canada to the Gulf of México to Lázaro Cárdenas, México. Stretching approximately 20,000 route miles and employing 20,000 railroaders, CPKC provides North American customers unparalleled rail service and network reach to key markets across the continent. CPKC is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpkcr.com to learn more about the rail advantages of CPKC. CP-IR

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SOURCE CPKC