Market Newsdesk

FORT WORTH, Texas, Dec. 7, 2021 /PRNewswire/ — Kimbell Royalty Partners, LP (NYSE: KRP) (“Kimbell” or the “Company”), a leading owner of oil and gas mineral and royalty interests in over 13 million gross acres in 28 states, today announced that it has closed the previously announced purchase (the “Acquisition”) of mineral and royalty interests in an all-cash transaction valued at approximately $57 million.  The Acquisition was funded with cash through a combination of an underwritten public offering of common units and borrowings under its revolving credit facility.  Kimbell is entitled to the cash flow attributable to the Acquisition beginning on and after November 1, 2021.  Revenues and certain other operating statistics under generally accepted accounting principles (“GAAP”) will be recorded for the Acquisition beginning on the closing date of December 7, 2021.  Kimbell estimates that, as of November 1, 2021, the seller’s royalty assets produced 700 Boe/d (6:1) (240 Bbl/d of oil, 123 Bbl/d of NGLs and 2,021 Mcf/d of natural gas) across a diverse property set with over 26,000 gross producing wells across the Permian, Mid-Continent, Haynesville and other leading U.S. basins.

Concurrent with the closing of the Acquisition, Kimbell completed the redemption of 25,000 Series A Cumulative Convertible Preferred Units (the “Preferred Units”), representing the entirety of the outstanding Preferred Units originally issued by the Company in 2018.

Davis Ravnaas, President and Chief Financial Officer of Kimbell’s general partner, said, “We are pleased to announce the closing of the Acquisition as well as the full redemption of the Preferred Units owned by certain affiliates of Apollo Capital Management, L.P.  The Acquisition is expected to be immediately accretive to distributable cash flow per unit and is expected to enhance Kimbell’s already peer-leading PDP decline rate while growing overall production.  Furthermore, the redemption of all remaining Preferred Units simplifies Kimbell’s balance sheet, reduces the Company’s cost of capital and is also expected to be immediately accretive to distributable cash flow per unit.  This final redemption fully closes the loop on Kimbell’s acquisition of Haymaker in 2018, which was transformative for the Company, and we look forward to maintaining our operational momentum as we enter 2022.”

About Kimbell Royalty Partners

Kimbell (NYSE: KRP) is a leading oil and gas mineral and royalty company based in Fort Worth, Texas.  Kimbell owns mineral and royalty interests in over 13 million gross acres in 28 states and in every major onshore basin in the continental United States, including ownership in more than 121,000 gross wells with over 46,000 wells in the Permian Basin.  To learn more, visit http://www.kimbellrp.com. 

Forward-Looking Statements

This news release includes forward-looking statements. These forward-looking statements, which include statements regarding the anticipated benefits of the Acquisition and operational data with respect to the Acquisition, involve risks and uncertainties, including risks that the anticipated benefits of the Acquisition are not realized; risks relating to Kimbell’s integration of the Acquisition assets; and risks relating to Kimbell’s business, prospects for growth and acquisitions and the securities markets generally. Except as required by law, Kimbell undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this news release. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Kimbell’s filings with the Securities and Exchange Commission (“SEC”).  These include risks inherent in oil and natural gas drilling and production activities, including risks with respect to low or declining prices for oil and natural gas that could result in downward revisions to the value of proved reserves or otherwise cause operators to delay or suspend planned drilling and completion operations or reduce production levels, which would adversely impact cash flow; risks relating to the impairment of oil and natural gas properties; risks relating to the availability of capital to fund drilling operations that can be adversely affected by adverse drilling results, production declines and declines in oil and natural gas prices; risks relating to Kimbell’s ability to meet financial covenants under its credit agreement or its ability to obtain amendments or waivers to effect such compliance; risks relating to Kimbell’s hedging activities; risks of fire, explosion, blowouts, pipe failure, casing collapse, unusual or unexpected formation pressures, environmental hazards, and other operating and production risks, which may temporarily or permanently reduce production or cause initial production or test results to not be indicative of future well performance or delay the timing of sales or completion of drilling operations; risks relating to delays in receipt of drilling permits; risks relating to unexpected adverse developments in the status of properties; risks relating to borrowing base redeterminations by Kimbell’s lenders, risks relating to the absence or delay in receipt of government approvals or third-party consents; risks relating to acquisitions, dispositions and drop downs of assets; risks relating to Kimbell’s ability to realize the anticipated benefits from and to integrate acquired assets, including the assets acquired in the Acquisition; and other risks described in Kimbell’s Annual Report on Form 10-K and other filings with the SEC, available at the SEC’s website at www.sec.gov.  You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release.

Contact:

Rick Black

Dennard Lascar Investor Relations
[email protected]
(713) 529-6600

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SOURCE Kimbell Royalty Partners, LP

SAN JOSE, Calif., Dec. 7, 2021 /PRNewswire/ — Rambus Inc. (NASDAQ: RMBS), a premier chip and silicon IP provider making data faster and safer, today announced that NextChip has selected the Rambus RT-640 Root of Trust and MACsec-IP-160 Protocol Engine to provide hardware-level security for their next-generation Apache6 automotive processor. The Apache6 ADAS SoC combines advanced CPU, GPU, ISP and NPU processors to enable demanding automotive vision and domain/zone controller applications such as AVP. The Rambus RT-640 Root of Trust is specifically tailored as an embedded hardware security module (HSM) for automotive ADAS applications requiring ASIL-B level reliability. In addition, the MACsec-IP-160 encrypts and protects data communicated over the in-vehicle network.

“We’re raising the bar for reliable, compact and affordable ADAS solutions with the Apache6,” said Hweihn Chung, CTO at NextChip. “With Rambus security IP solutions, Apache6 offers state-of-the-art protection of mission-critical data while meeting full ASIL-B compliance.”

The Rambus RT-640 Root of Trust provides security services and protection of data processed by the Apache6 SoC. The RT-640 is a powerful security co-processor featuring automotive grade embedded security software, high-performance cryptographic accelerators for AES, HMAC, SHA-2 and more. In addition, dedicated safety integrity mechanisms ensure correct operations and extensive error handling and the advanced anti-tamper features of the RT-640 protect chips from side-channel and fault injection (FI) attacks. The Rambus MACsec-IP-160 encrypts and protects data at speeds up to 100 Gbps over Ethernet in-car networks.

“The growing power and capabilities of ADAS solutions like NextChips’s Apache6 raise the stakes for the highest level of data and hardware security,” said Neeraj Paliwal, general manager of Security IP at Rambus. “It’s an honor to be selected by NextChip for our industry-leading security solutions tailored for the performance and reliability needs of the automotive market.”

More Information:
For more information, please visit:

• Rambus RT-640 Root of Trust embedded HSM with ASIL-B for Automotive
• Rambus MACsec-IP-160 Protocol Engine 

Follow Rambus:

Company website: rambus.com
Rambus blog: rambus.com/blog
Twitter: @rambusinc
LinkedIn: www.linkedin.com/company/rambus
Facebook: www.facebook.com/RambusInc 

About Rambus Inc.

Rambus is a provider of industry-leading chips and silicon IP making data faster and safer. With over 30 years of advanced semiconductor experience, we are a pioneer in high-performance memory subsystems that solve the bottleneck between memory and processing for data-intensive systems. Whether in the cloud, at the edge or in your hand, real-time and immersive applications depend on data throughput and integrity. Rambus products and innovations deliver the increased bandwidth, capacity and security required to meet the world’s data needs and drive ever-greater end-user experiences. For more information, visit rambus.com.

Press Contact:

Cori Pasinetti

Rambus Corporate Communications
t: (650) 309-6226
[email protected]

 

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SOURCE Rambus Inc.

NEW YORK, Dec. 7, 2021 /PRNewswire/ — Tequila Don Julio Ultima Reserva is a liquid so rare and precious that it deserves to be enjoyed with those you cherish the most, a sentiment that the brand was born from. When Don Julio González first set out on his tequila making journey in 1942, he created a special reserve intended only to be shared with his closest circle of family and friends. Just as Don Julio devoted his life to tequila making, Mark Seliger has devoted his to the art of photography, and both have become icons in their respective fields, not as a goal, but as a result. Now, with the release of this extremely special liquid, Mark is not only bringing to life the meaning of Ultima Circle, he’s doing something he’s never done before and stepping in front of his own camera to do so.

Experience the interactive Multichannel News Release here: https://www.multivu.com/players/English/8989151-tequila-don-julio-ultima-reserva-evening-at-home-with-mark-seliger/

“This project was truly a labor of love. While I never get in front of my camera, I’ve always been a fan of Tequila Don Julio, and I’ve always loved having friends over to my home,” shares Mark Seliger. “So when I was introduced to Tequila Don Julio Ultima Reserva, I loved not only the liquid but its powerful story, which inspired me to get together my close circle of friends for an evening at my place to savor each sip in each other’s company. Now, we’ll always be able to transport back to that moment with these images, and I can’t wait to extend this feeling to someone else.”

“Tequila Don Julio Ultima Reserva preserves Don Julio’s ultimate legacy – the final agave harvest planted by Don Julio and his family in 2006,” shares Brand Director Hadley Schafer. “This special release is truly meant for those nights with your closest friends that you never want to end, and together with Mark Seliger, an acclaimed photographer unparalleled in capturing those special moments, we’re making sure they never do.”

As such with this rare liquid comes an equally rare opportunity to enjoy your own Ultima Circle experience at Mark Seliger’s Manhattan studio. Bidding in our online auction begins today at 12 p.m. Eastern Time for this exclusive experience inclusive of travel and accommodations for a 2 day stay in New York with up to three guests (21+) as well as an intimate dinner† and portrait session with Mark Seliger himself.** The winning bidder will be able to take home their very own print captured from the evening, something only A-listers have had the privilege to do up until now. The winning bid will be donated to New York Cares, a charity that Mark has continuously supported throughout the years, and Tequila Don Julio will match the winning bid (up to $10,000)‡. New York Cares is a nonprofit organization committed to meeting pressing needs by engaging caring New Yorkers in volunteer service. The online auction will be live for bidding until 2:59 p.m. Eastern Time on January 4, 2022. For more information about the online auction including how to bid, please visit CharityBuzz.com.

Available in extremely limited quantities, the first batch of Tequila Don Julio Ultima Reserva is available in select markets while supplies last, with a suggested retail price of $399.

Tequila Don Julio encourages consumers of legal drinking age to celebrate responsibly.

ABOUT DIAGEO NORTH AMERICA
Diageo is a global leader in beverage alcohol with an outstanding collection of brands including Johnnie Walker, Crown Royal, Bulleit and Buchanan’s whiskies, Smirnoff, Cîroc and Ketel One vodkas, Casamigos, DeLeon and Don Julio tequilas, Captain Morgan, Baileys, Tanqueray and Guinness.

Diageo is listed on both the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange (LSE: DGE) and their products are sold in more than 180 countries around the world.

For more information about Diageo, their people, brands, and performance, visit www.diageo.com. Visit Diageo’s global responsible drinking resource, www.DRINKiQ.com, for information, initiatives, and ways to share best practice. Follow at Twitter and Instagram for news and information about Diageo North America: @Diageo_NA.

ABOUT TEQUILA DON JULIO

Founded on the pioneering agricultural principles of Don Julio González and his personal pursuit of perfection, Tequila Don Julio revolutionized the tequila industry and set the standard for ultra-premium tequila. The original luxury tequila of choice in Mexico, Tequila Don Julio uses only the highest caliber, fully matured and ripened Blue Agave that has been hand-selected from the rich, clay soils of the Los Altos region of the state of Jalisco. The Tequila Don Julio portfolio includes Tequila Don Julio Blanco, Tequila Don Julio Reposado, Tequila Don Julio Añejo, Tequila Don Julio 70, Tequila Don Julio 1942, and the limited-edition Tequila Don Julio Primavera. For more information on Tequila Don Julio, please visit www.DonJulio.com.

ABOUT MARK SELIGER
In 1987, Mark Seliger began shooting for Rolling Stone. He was signed as their chief photographer in 1992. During his time at Rolling Stone, Seliger shot over 125 covers and began a long-term collaborative relationship with Design Director, Fred Woodward, which continued into their work with GQ. They have co-directed numerous music videos for artists such as Hole, Lenny Kravitz, Gillian Welch and Elvis Costello.

In 2011, he founded a non-profit exhibition space for photography called 401 Projects, which has featured shows for James Nachtwey, Eugene Richards, Albert Watson, Platon, among others. He also hosted the Emmy-nominated show “Capture” on YouTube’s Reserve Channel, which focuses on candid conversations between established photographers such as Platon, Mary Ellen Mark, Martin Schoeller, Bob Gruen, etc. and celebrities who are interested in photography (Dylan McDermott, Helena Christensen, Judd Apatow).

Seliger continues his love of the darkroom by using the platinum palladium process to create large-scale, 30″x40″ prints, and his photographs have been exhibited in museums and galleries. He has also published numerous books, including: The City That Finally Sleeps (Brilliant, 2021), Mark Seliger Photographs (Abrams, 2018), On Christopher Street: Transgender Stories (Rizzoli,2016), Listen (Rizzoli, 2010), Mark Seliger: The Music Book (teNeues, 2008), In My
Stairwell (Rizzoli, 2005), Lenny Kravitz/Mark Seliger (Arena, 2001), Physiognomy (Bullfinch, 1999) and When They Came to Take My Father – Voices from the Holocaust (Arcade, 1996).

†Excludes alcohol beverages.
**Must be 21+ to bid.  Date of experience subject to Mr. Seliger’s availability but must be used within 1 year of close of auction. Experience offered for sale AS IS. Bid is a legally binding agreement to purchase experience at corresponding price. Auction ends January 4^th, 2022 at 3PM Eastern Time. Winning bid may not be tax deductible. Subject to Auction Rules at charitybuzz.com; be sure to review same, including complete item description before bidding. 
‡ No minimum donation.  

 

 

 

 

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SOURCE Tequila Don Julio

SUNNY ISLES BEACH, Fla., Dec. 7, 2021 /PRNewswire/ — Icahn Enterprises L.P. (NASDAQ: IEP) (“Icahn Enterprises”) today announced that its wholly-owned subsidiary, American Entertainment Properties Corp., has completed the previously announced sale of 100% of the equity interests in PSC Metals, LLC to SA Recycling LLC, for total cash consideration of approximately $323 million, including repaid indebtedness and subject to customary post-closing adjustments. As of September 30, 2021, Icahn Enterprises had carried PSC Metals on its balance sheet at a value of $147 million. Icahn Enterprises has retained ownership of a strategic parcel of land previously owned by PSC Metals that is located near downtown Nashville and Nissan Stadium, and in connection with the transaction has leased this land to SA Recycling.

Carl C. Icahn, Chairman of Icahn Enterprises, stated: “Icahn Enterprises acquired its interest in PSC Metals in 2007. Even under challenging circumstances created by volatile commodity markets over the past several years, we executed our activist playbook  with this investment – significantly increasing EBITDA. Given the cyclical nature of the company’s industry, we believe today’s transaction is appropriately timed and provides a very positive outcome for IEP unitholders.”

About Icahn Enterprises L.P.

Icahn Enterprises, a master limited partnership, is a diversified holding company engaged in seven primary business segments: Investment, Energy, Automotive, Food Packaging, Real Estate, Home Fashion and Pharma.

Caution Concerning Forward-Looking Statements

This release may contain certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, many of which are beyond our ability to control or predict. Forward-looking statements may be identified by words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “will” or words of similar meaning and include, but are not limited to, statements about the expected future business and financial performance of Icahn Enterprises L.P. and its subsidiaries. Actual events, results and outcomes may differ materially from our expectations due to a variety of known and unknown risks, uncertainties and other factors, including risks related to economic downturns, substantial competition and rising operating costs; risks related to the severity, magnitude and duration of the COVID-19 pandemic and its impact on the global economy, financial markets and industries in which our subsidiaries operate; risks related to our investment activities, including the nature of the investments made by the private funds in which we invest, declines in the fair value of our investments as a result of the COVID-19 pandemic, losses in the private funds and loss of key employees; risks related to our ability to continue to conduct our activities in a manner so as to not be deemed an investment company under the Investment Company Act of 1940, as amended; risks related to our energy business, including the volatility and availability of crude oil, declines in global demand for crude oil, refined products and liquid transportation fuels as a result of the COVID-19 pandemic, other feed stocks and refined products, unfavorable refining margin (crack spread), interrupted access to pipelines, significant fluctuations in nitrogen fertilizer demand in the agricultural industry and seasonality of results; risks related to our automotive activities and exposure to adverse conditions in the automotive industry, including as a result of the COVID-19 pandemic; risks related to our food packaging activities, including competition from better capitalized competitors, inability of suppliers to timely deliver raw materials, and the failure to effectively respond to industry changes in casings technology; risks related to our previous scrap metals activities, including potential environmental exposure; risks related to our real estate activities, including the extent of any tenant bankruptcies and insolvencies; risks related to our home fashion operations, including changes in the availability and price of raw materials, and changes in transportation costs and delivery times; and other risks and uncertainties detailed from time to time in our filings with the Securities and Exchange Commission. Past performance in our Investment segment is not indicative of future performance. We undertake no obligation to publicly update or review any forward-looking information, whether as a result of new information, future developments or otherwise.

Investor Contact:

David Willetts

Chief Executive Officer
(305) 422-4100

View original content:https://www.prnewswire.com/news-releases/icahn-enterprises-lp-completes-sale-of-psc-metals-llc-301439627.html

SOURCE Icahn Enterprises L.P.

MESA, Ariz., Dec. 7, 2021 /PRNewswire/ — Verra Mobility (NASDAQ: VRRM) (“Verra Mobility” or the “Company”), a leading provider of smart mobility technology solutions, announced today that one of its principal shareholders, an affiliate of Platinum Equity, LLC (the “Selling Stockholder”), has commenced a secondary offering of 8,207,821 shares of its Class A common stock (the “Offering”). The Company is not offering any shares of its Class A common stock in the Offering and will not receive any of the proceeds from the sale of the shares offered by the Selling Stockholder.

BofA Securities is acting as the sole underwriter for the offering.

An automatic shelf registration statement on Form S-3 (including a prospectus) relating to these securities became effective upon filing with the Securities and Exchange Commission (the “SEC”). The Offering is being made solely by means of a prospectus supplement and the accompanying prospectus. Copies of the prospectus supplement and the accompanying prospectus relating to the Offering, when available, may be obtained by contacting BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department, Email: [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any 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 Verra Mobility

Verra Mobility is committed to developing and using the latest in technology and data intelligence to help make transportation safer and easier. As a global company, Verra Mobility sits at the center of the mobility ecosystem – one that brings together vehicles, devices, information, and people to solve complex challenges faced by our customers and the constituencies they serve.

Verra Mobility serves the world’s largest commercial fleets and rental car companies to manage tolling transactions and violations for millions of vehicles. As a leading provider of connected systems, Verra Mobility processes millions of transactions each year through integration and connectivity with hundreds of tolling and issuing authorities. Verra Mobility also fosters the development of safe cities, partnering with law enforcement agencies, transportation departments, and school districts across North America, operating thousands of red-light, speed, bus lane and school bus stop arm safety cameras. Arizona-based Verra Mobility operates in North America, Europe, Asia, and Australia. For more information, visit www.verramobility.com.

Forward-Looking Statements

This press release contains forward-looking statements that address the public offering, are subject to substantial risks, uncertainties, and assumptions. You should not place reliance on these statements. These statements often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “seek,” “will,” “may” or similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those currently anticipated. Risks and uncertainties that may affect future results include those described from time to time in the Company’s filings with the SEC and on the SEC website, www.sec.gov. These forward-looking statements represent the judgment of the Company as of the date of this release, and the Company disclaims any intent or obligation to update forward-looking statements. This press release should be read in conjunction with the information included in the Company’s other press releases, reports and other filings with the SEC. Understanding the information contained in these filings is important in order to fully understand the Company’s reported financial results and our business outlook for future periods.

Investor Relations Contact


[email protected]

 

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SOURCE Verra Mobility