QCR Holdings, Inc. Elects Marie Ziegler as Board Chair; Announces a Cash Dividend of $0.06 Per Share

MOLINE, Ill., May 24, 2021 (GLOBE NEWSWIRE) — QCR Holdings, Inc. (NASDAQ: QCRH) today announced Marie Z. Ziegler, a member of the Board of Directors since 2008, was elected Chair of the Board of Directors. Ziegler replaces former Chair Patrick S. Baird, who will remain on the Board.

Additionally, on May 19, 2021, the Company’s Board of Directors declared a cash dividend of $0.06 per share payable on July 7, 2021, to holders of common stock of the Company of record on June 18, 2021.

About Us

QCR Holdings, Inc., headquartered in Moline, Illinois, is a relationship-driven, multi-bank holding company serving the Quad Cities, Cedar Rapids, Cedar Valley, Des Moines/Ankeny and Springfield communities through its wholly owned subsidiary banks. The banks provide full-service commercial and consumer banking and trust and wealth management services. Quad City Bank & Trust Company, based in Bettendorf, Iowa, commenced operations in 1994, Cedar Rapids Bank & Trust Company, based in Cedar Rapids, Iowa, commenced operations in 2001, Community State Bank, based in Ankeny, Iowa, was acquired by the Company in 2016, and Springfield First Community Bank, based in Springfield, Missouri, was acquired by the Company in 2018. Additionally, the Company serves the Waterloo/Cedar Falls, Iowa community through Community Bank & Trust, a division of Cedar Rapids Bank & Trust Company. Quad City Bank & Trust Company engages in commercial leasing through its wholly owned subsidiary, m2 Equipment Finance, LLC, based in Milwaukee, Wisconsin, and also provides correspondent banking services. The Company has 23 locations in Iowa, Missouri, Wisconsin and Illinois. As of March 31, 2021, the Company had approximately $5.6 billion in assets, $4.4 billion in loans and $4.6 billion in deposits. For additional information, please visit the Company’s website at www.qcrh.com.

Contacts:

Todd A. Gipple Kim K. Garrett
President Vice President, Corporate Communications
Chief Operating Officer Investor Relations Manager
Chief Financial Officer (319) 743-7006
(309) 743-7745 [email protected]
[email protected]  



Sharps Compliance Announces Change to Board of Directors

HOUSTON, May 24, 2021 (GLOBE NEWSWIRE) — Sharps Compliance Corp. (NASDAQ: SMED) (“Sharps Compliance” or the “Company”), a leading full-service national provider of comprehensive waste management solutions including medical, pharmaceutical and hazardous, today announced that Jack Holmes has resigned from the Company’s Board of Directors, effective May 21, 2021, to focus on other business commitments. In an 8-K filing on May 5, 2021, Sharps Compliance announced that Mr. Holmes had notified the board that he had decided to decline to stand for re-election at the Company’s 2021 Annual Meeting in November 2021. His decision is not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.

Sharon R. Gabrielson, Chair of Sharps Compliance Board of Directors commented, “We thank Jack for his valuable contributions and service during his tenure on the Board and we wish him success as he focuses on his other business commitments.”

About Sharps Compliance Corp.

Headquartered in Houston, Texas, Sharps Compliance (NASDAQ: SMED) is a leading business-to-business services provider to the healthcare, long-term care and retail pharmacy markets. Sharps Compliance offers comprehensive solutions for the management of regulated medical waste, hazardous waste and unused medications. For more information, visit: www.sharpsinc.com.

Safe Harbor Statement

The information made available in this news release contains certain forward-looking statements relating to the Company that are based on the beliefs of the Company’s management as well as assumptions made by and information currently available to the Company’s management. When used in this document, the words “may,” “position,” “plan,” “potential,” “continue,” “anticipate,” “believe,” “expect,” “estimate,” “project,” and “intend” and words or phrases of similar import, as they relate to the Company or its subsidiaries or Company management, are intended to identify forward-looking statements. Such statements reflect the known and unknown risks, uncertainties and assumptions related to certain factors including, without limitation, competitive factors, general economic conditions, customer relations, relationships with vendors, governmental regulation and supervision, seasonality, distribution networks, product introductions and acceptance, technological change, changes in industry practices, onetime events and other factors described herein including the impact of the coronavirus COVID-19 (“COVID-19”) pandemic on our operations and financial results. Based upon changing conditions, should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected or intended. Consequently, no forward-looking statements can be guaranteed. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the Company’s Quarterly Report on Form 10-Q or refer to our Annual Report on Form 10-K. Actual results may vary materially. You are cautioned not to place undue reliance on any forward-looking statements. You should also understand that it is not possible to predict or identify all such factors and as such should not consider the preceding list or the risk factors to be a complete list of all potential risks and uncertainties. The Company does not intend to update these forward-looking statements.

For more information contact:

Diana P. Diaz
Sharps Compliance Corp.
Executive Vice President and Chief Financial Officer
Phone: (713) 660-3547
Email: [email protected]
John Nesbett/Jennifer Belodeau
IMS Investor Relations
Phone: (203) 972-9200
Email: [email protected]



Exagen Inc. to Participate in the William Blair 41st Annual Growth Stock Conference

SAN DIEGO, May 24, 2021 (GLOBE NEWSWIRE) — Exagen Inc. (Nasdaq: XGN), a leading provider of autoimmune testing solutions, today announced its participation in the William Blair 41st Annual Growth Stock Conference which takes place June 1-3, 2021. Ron Rocca, Exagen’s President and Chief Executive Officer, and Kamal Adawi, Chief Financial Officer, will participate in a virtual fireside chat on Wednesday, June 2 at 11:20 AM EDT.

Interested parties may access the live webcast of the fireside chat using a link on Exagen’s website at https://investors.exagen.com/events

About Exagen Inc.

Exagen is dedicated to transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases by enabling timely differential diagnosis and optimizing therapeutic intervention. Exagen has developed and is commercializing a portfolio of innovative testing products under its AVISE® brand, several of which are based on our proprietary Cell-Bound Complement Activation Products, or CB-CAPs, technology. Exagen’s goal is to enable providers to improve care for patients through the differential diagnosis, prognosis and monitoring of complex autoimmune and autoimmune-related diseases, including rheumatoid arthritis and lupus. For further information please visit www.exagen.com.

Forward Looking Statements

Exagen cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the company’s current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by Exagen that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Exagen’s business, including, without limitation: the COVID-19 pandemic may continue to adversely affect our business, financial condition and results of operations, including as a result of shutdowns of our facilities and operations as well as those of our suppliers and courier services, impeding patient movement and interruptions to healthcare services causing a decrease in test volumes, disruptions to the supply chain of material needed for our tests, our sales and commercialization activities and our ability to receive specimens and perform or deliver the results from our tests, delays in reimbursement and coverage decisions from Medicare and third-party payors and in interactions with regulatory authorities, and delays in ongoing and planned clinical trials involving our tests; the company’s commercial success depends upon attaining and maintaining significant market acceptance of its testing products and promoted therapeutics among rheumatologists, patients, third-party payers and others in the medical community; the company’s ability to successfully execute on its business strategy, including its promotion efforts for SIMPONI®; third party payers not providing coverage and adequate reimbursement for the company’s testing products or promoted therapeutics; the company’s ability to obtain and maintain intellectual property protection for its testing products; regulatory developments affecting the company’s business; and other risks described in the company’s prior press releases and the Company’s filings with the Securities and Exchange Commission (SEC), including under the heading “Risk Factors” in the company’s Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Exagen undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Investors

Westwicke Partners
Mike Cavanaugh
[email protected]  
646.677.1838

Company

Exagen Inc.
Kamal Adawi, Chief Financial Officer
[email protected]  
760.477.5514



Janus International to Participate in the Wolfe Research Global Transportation and Industrials Conference

Janus International to Participate in the Wolfe Research Global Transportation and Industrials Conference

TEMPLE, Ga.–(BUSINESS WIRE)–
Janus International Group, LLC (“Janus” or the “Company”), a leading global manufacturer and supplier of turn-key building solutions and new access control technologies for the self-storage and other industrial sectors, announced today that members of Janus management will participate in the Wolfe Research Global Transportation and Industrials Conference on Tuesday, May 25, 2021.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210524005795/en/

Janus expects to complete its business combination with Juniper Industrial Holdings, Inc. (NYSE: JIH) and become a publicly listed company in the second quarter of 2021. Clearlake, an investment firm, is the largest shareholder in Janus.

ABOUT JANUS INTERNATIONAL

Janus International Group, LLC (www.JanusIntl.com) is the leading global manufacturer and supplier of turn-key self-storage, commercial and industrial building solutions, including: roll-up and swing doors, hallway systems, re-locatable storage units and facility and door automation technologies. The Janus team operates out of several U.S. locations and six locations internationally.

ABOUT CLEARLAKE

Founded in 2006, Clearlake Capital Group, L.P. is an investment firm operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are industrials, technology, and consumer. Clearlake currently has approximately $35 billion of assets under management, and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.

ABOUT JUNIPER INDUSTRIAL HOLDINGS, INC. (NYSE: JIH)

Juniper Industrial Holdings, Inc., a Delaware corporation (“JIH” or “Juniper”), is a Special Purpose Acquisition Corporation targeting companies within the industrials sector. With $348 million in trust, Juniper was formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Juniper’s management team has a proven track record of identifying market-leading technologies across the industrial spectrum, and an affinity for businesses with strong brands and mission-critical offering. The Juniper team has a robust network of relationships within industrial and investment communities built over 60+ years of combined industry experience, and a deep understanding of industrial trends. More information is available at www.juniperindustrial.com.

IMPORTANT INFORMATION AND WHERE TO FIND IT

This communication is being made in connection with the proposed business combination involving Juniper and Janus under a new holding company, Janus Parent, Inc., a Delaware corporation (“Janus Parent”). In connection with the proposed transactions, Janus Parent has filed with the Securities and Exchange Commission (“SEC”) a registration statement on Form S-4 (as amended, the “Registration Statement”) containing a definitive proxy statement of Juniper and a definitive prospectus of Janus Parent. This announcement does not contain all the information that should be considered concerning the proposed business combination and is not intended to form the basis of any investment decision or any other decision in respect of the business combination. Juniper’s shareholders and other interested persons are advised to read the definitive proxy statement/prospectus and other documents filed in connection with the proposed business combination, as these materials will contain important information about Juniper, Janus, Janus Parent and the business combination. Janus Parent has mailed the definitive proxy statement/prospectus and other relevant materials for the proposed business combination to shareholders of Juniper as of a record date to be established for voting on the proposed business combination. Shareholders are also able to obtain copies of the definitive proxy statement/prospectus and other documents filed with the SEC, without charge at the SEC’s website at www.sec.gov. In addition, the documents filed by Juniper and Janus Parent may be obtained free of charge from Juniper at www.juniperindustrial.com/investors. Alternatively, these documents can be obtained free of charge by directing a request to: Juniper Industrial Holdings, Inc., 14 Fairmount Avenue, Chatham, New Jersey 07928.

PARTICIPANTS IN THE SOLICITATION

Juniper, Janus and certain of their directors and executive officers may be deemed participants in the solicitation of proxies from Juniper’s shareholders with respect to the proposed business combination. A list of the names of those directors and executive officers and a description of their interests in Juniper is contained in Juniper’s annual report on Form 10-K for the fiscal year-ended December 31, 2020, which is available free of charge at the SEC’s web site at www.sec.gov. In addition, the documents filed by Juniper may be obtained from Juniper as described above under “Important Information and Where to Find It.”

NO OFFER OR SOLICITATION

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of any 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 such other jurisdiction.

FORWARD LOOKING STATEMENTS

Certain statements in this communication may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this communication are forward-looking statements. When used in this communication, words such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “continue,” or the negative of such terms or other similar expressions, as they relate to the management team, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of the respective management of Janus and Juniper, based on currently available information, as to the outcome and timing of future events, and involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in Juniper’s filings with the SEC including, but not limited to, the risk factors and other uncertainties set forth under “Risk Factors” in Part I, Item 1A of Juniper’s Form 10-K for the year ended December 31, 2020 and in Juniper’s other filings. There can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and neither Janus nor Juniper is under any obligation, and each of them expressly disclaims any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. All subsequent written or oral forward-looking statements attributable to Janus or Juniper or persons acting on its behalf are qualified in their entirety by this paragraph.

In addition to factors previously disclosed in Juniper’s reports filed with the SEC and those identified elsewhere in this communication, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: (i) ability to meet the closing conditions to the merger, including approval by stockholders of Juniper on the expected terms and schedule and the risk that any regulatory approvals required for the merger are not obtained or are obtained subject to conditions that are not anticipated; (ii) the occurrence of any event, change or other circumstance that could cause the termination of the merger agreement or a delay in the closing of the merger; (iii) the effect of the announcement or pendency of the proposed merger on Juniper’s business relationships, operating results, and business generally; (iv) failure to realize the benefits expected from the proposed transaction; (v) risks that the proposed merger disrupts Janus’s current plans and operations and potential difficulties in Janus’s employee retention as a result of the proposed merger; (vi) the effects of pending and future legislation; (vii) risks related to disruption of management time from ongoing business operations due to the proposed transaction; (viii) the amount of the costs, fees, expenses and other charges related to the merger; (ix) risks of the self-storage industry; (x) the highly competitive nature of the self-storage industry and Janus’s ability to compete therein; (xi) litigation, complaints, and/or adverse publicity; (xii) the ability to meet NYSE’s listing standards following the consummation of the proposed transaction and (xiii) cyber incidents or directed attacks that could result in information theft, data corruption, operational disruption and/or financial loss.

This communication is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in Juniper and is not intended to form the basis of an investment decision in Juniper. All subsequent written and oral forward-looking statements concerning Janus and Juniper, the proposed transaction or other matters and attributable to Janus and Juniper or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Juniper and Janus undertake no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Investor Contacts, Janus

Rodny Nacier/ Brad Cray

Phone: 770-562-6399

Email: [email protected]

Media Contacts, Janus

Phil Denning / Nora Flaherty

[email protected]

Media Contacts, Clearlake

Jennifer Hurson

[email protected]

KEYWORDS: Georgia United States North America

INDUSTRY KEYWORDS: Engineering Other Construction & Property Manufacturing Commercial Building & Real Estate Construction & Property Other Manufacturing

MEDIA:

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MusclePharm Delivers Profitable First Quarter 2021 Despite Industry Wide Supply Shortages

Operating expenses declined ~$0.8 million or 20% in First Quarter 2021

March and April sales increased compared to prior year periods

Company closed deal with major distributor ahead of MP Performance Energy beverages launch in Summer 2021

CALABASAS, Calif, May 24, 2021 (GLOBE NEWSWIRE) — MusclePharm Corporation (OTCMKTS: MSLP), a global provider of leading sports nutrition & lifestyle branded nutritional supplements, today reported financial results for the first quarter ended March 31, 2021.

Mr. Ryan Drexler, the Chairman of the Board of Directors and Chief Executive Officer, stated, “I am very pleased with our profitable quarter, despite the sales shortfall due to the temporary supply shortage affecting our industry. With March and April achieving sales increases over the prior year periods we have momentum going into the second quarter, which indicates the great strides we have made during the past year. We have some of the leading brands in the health and fitness industry and are proud to be leveraging the tremendous reach they offer by entering new categories such as energy beverages. With the rollout of three new energy beverages, in addition to tapping into the gender specific market with our popular FitMiss brand, we are very well positioned to capture a meaningful share of this rapidly growing market.”

“We have delivered positive profit for the last two quarters and it is a testament that the turnaround strategy we started two years ago to dramatically restructure MusclePharm and increase our focus on profitability is working. The expansion into the energy beverage market is only the beginning for our Company and I am optimistic we are in the very early stages of a tremendous long-term growth opportunity at MusclePharm,” said Ms. Sabina Rizvi President and Chief Financial Officer. “We will continue to focus on cost containment, while driving top line growth with our three-prong strategy of growing the core MP brand through broadened distribution and product offerings, focusing on omni-channel by meeting customers where they prefer to shop, and expanding into new distribution and brand expansion opportunities, as illustrated by our upcoming launch into the energy beverage sector.”

The following are key financial highlights for the period. Reconciliations of certain GAAP to non-GAAP measures are provided later in this press release.

First Quarter 2021 Compared to First Quarter 2020

   ● Revenue, net was $13.1 million compared to $16.2 million.
   ● Gross margin declined to 28.1% compared to 29.6%.
   ● Operating expenses declined $0.8 million or 19.8%
   ● Net income was $94 thousand compared to a net loss of $(60) thousand.
   ● Diluted income per share was $0.00 compared to $(0.00).
   ● Adjusted EBITDA was $0.5 million compared to $0.7 million.

Non-GAAP Financial Measures

Within this press release, the Company makes reference to a non-GAAP financial measure (Adjusted EBITDA) which has a directly comparable U.S. GAAP financial measure (net income). EBITDA is defined as net income/(loss) excluding interest, net, income taxes and depreciation and amortization. Adjusted EBITDA, in addition to those amounts included in EBITDA, is further adjusted for items such as stock-based compensation, gain on disposal of property and equipment, gain on settlements and (recovery) provision for doubtful accounts.

Adjusted EBITDA is provided so that investors have the same financial data that management uses to assess the Company’s operating results with the belief that it will assist the investment community in properly assessing the ongoing performance of the Company for the periods being reported and future periods. The presentation of this additional information is not meant to be considered a substitute for measures prepared in accordance with U.S. GAAP.

Conference Call Information

The Company will host a conference call to discuss its operating results today at 1:30 pm Pacific Time (4:30 pm Eastern Time). Investors interested in accessing the live call can dial (877) 407-0792 from the U.S. and International callers can dial (201) 689-8263. A telephone replay will be available following the event and can be accessed by dialing (844) 512-2921 from the U.S. and International callers can dial (412) 317-6671; the conference ID is 13719996.

There will also be a simultaneous, live webcast with the ability to ask questions of management on the Investor Relations section of the Company’s website at www.musclepharm.com. The webcast will be archived for 30 days.

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, relating to our business and financial outlook, which are based on our current beliefs, assumptions, expectations, estimates, forecasts and projections. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “projects,” “intends,” “predicts,” “potential,” or “continue” or other comparable terminology. Such forward-looking statements only speak as of the date of this press release and the Company assumes no obligation to update the information included in this press release. Statements made in this press release that are forward-looking in nature may involve risks and uncertainties. Accordingly, readers are cautioned that any such forward-looking statements are not guarantees and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, without limitation, risks relating to consumer spending may decline or that U.S. and global macroeconomic conditions may worsen resulting in reduced demand for the Company’s products, risks relating to changes in consumer preferences away from the Company’s offerings, risks relating to the effectiveness and efficiency of the Company’s advertising campaigns and marketing expenditures, including existing brands and the launch of new brands, which may not result in increased revenue or generate sufficient levels of brand name and program awareness, risks if the Company becomes subject to health or advertising related claims from its customers, competitors or governmental and regulatory bodies, and risks relating to increased competition from other nutrition providers. As a result of these various risks, our actual outcomes and results may differ materially from those expressed in these forward-looking statements.

This list of risks, uncertainties and other factors is not complete. We discuss some of these matters more fully, as well as certain risk factors that could affect our business, financial condition, results of operations, and prospects, in reports we file from time-to-time with the SEC, which are available to read at www.sec.gov. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the results of any revisions to the forward-looking statements made in this press release.

About MusclePharm Corporation

MusclePharm® is an award-winning, worldwide leading sports nutrition & lifestyle company offering branded nutritional supplements. Its portfolio of recognized properties include the MusclePharm® Sport Series, Essentials Series, and recently-launched Natural Series, as well as FitMiss™ – a product line designed specifically for female athletes. MusclePharm® products are available in more than 100 countries globally, with its Combat Protein product lineup being the company’s most popular.

Contact:

John Mills, Managing Partner
ICR, Inc.
646-277-1254
[email protected]

MusclePharm Corporation

Consolidated Statements of Operations

(In thousands, except share and per share data)

(Unaudited)

    Three Months Ended

March 31,
 
    2021     2020  
Revenue, net   $ 13,121     $ 16,231  
Cost of revenue     9,432       11,422  
Gross profit     3,689       4,809  
Operating expenses:                
Advertising and promotion     345       125  
Salaries and benefits             1,048       1,681  
Selling, general and administrative     1,397       1,911  
Professional fees     627       541  
Total operating expenses     3,417       4,258  
Income from operations     272       551  
Other expense:                
Interest and other expense, net     (178 )     (589 )
Income (loss) before provision for income taxes     94       (38 )
Provision for income taxes           22  
Net income (loss)   $ 94     $ (60 )
                 
Net income (loss) per share, basic and diluted   $ 0.00     $ (0.00 )
                 
Weighted average shares used to compute net income (loss) per share, basic     33,119,549       32,459,675  
Weighted average shares used to compute net income (loss) per share, diluted     45,492,621       32,459,675  

MusclePharm Corporation

Consolidated Balance Sheets

(In thousands, except share and per share data)

    March 31,

2021
    December 31,

2020
 
    (Unaudited)        
ASSETS                
Current assets:                
Cash   $ 592     $ 2,003  
Accounts receivable, net     6,221       7,488  
Inventory     1,353       1,032  
Prepaid expenses and other current assets     814       1,341  
Total current assets     8,980       11,864  
Property and equipment, net     13       13  
Intangible assets, net     275       356  
Operating lease right-of-use assets     406       474  
Other assets     275       295  
TOTAL ASSETS   $ 9,949     $ 13,002  
LIABILITIES AND STOCKHOLDERS’ DEFICIT                
Current liabilities:                
Obligation under secured borrowing arrangement   $ 4,740     $ 7,098  
Line of credit     1,705       743  
Operating lease liability, current     402       381  
Convertible note with a related party, net of discount     2,872       2,872  
Accounts payable     13,759       14,719  
Accrued and other liabilities     6,028       6,194  
Total current liabilities     29,506       32,007  
Operating lease liability, long-term     233       343  
Other long-term liabilities     4,535       5,071  
Total liabilities     34,274       37,421  
Commitments and contingencies                
Stockholders’ deficit:                
Common stock, par value of $0.001 per share; 100,000,000 shares authorized, 34,261,821 and 33,980,905 shares issued as of March 31, 2021 and December 31, 2020, respectively; 33,386,200 and 33,105,284 shares outstanding as of March 31, 2021 and December 31, 2020, respectively     32       32  
Additional paid-in capital     178,261       178,261  
Treasury stock, at cost; 875,621 shares     (10,039 )     (10,039 )
Accumulated deficit     (192,579 )     (192,673 )
TOTAL STOCKHOLDERS’ DEFICIT     (24,325 )     (24,419 )
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT   $ 9,949     $ 13,002  

MusclePharm Corporation

Consolidated Statements of Cash Flows

(Unaudited, in thousands)

    Three Months Ended

March 31,
 
    2021     2020  
CASH FLOWS FROM OPERATING ACTIVITIES:                
Net income (loss)   $ 94     $ (60 )
Adjustments to reconcile net loss to net cash provided by operating activities:                
Depreciation and amortization of property and equipment     4       63  
Amortization of intangible assets     80       80  
Bad debt expense (recovery)     (11 )     11  
Gain on disposal of property and equipment           (11 )
Inventory provision     86       12  
Stock-based compensation           100  
Issuance of common stock to non-employees           47  
Changes in operating assets and liabilities:                
Accounts receivable     1,278       (781 )
Inventory     (406 )     (268 )
Prepaid expenses and other current assets     527       (459 )
Other assets     87       174  
Accounts payable and accrued liabilities     (1,641 )     1,253  
Net cash provided by operating activities     98       161  
CASH FLOWS FROM INVESTING ACTIVITIES:                
Purchase of property and equipment     (4 )      
Proceeds from disposal of property and equipment           11  
Net cash (used in) provided by investing activities     (4 )     11  
CASH FLOWS FROM FINANCING ACTIVITIES:                
Proceeds from line of credit     1,061        
Payments on line of credit     (100 )     (393 )
Proceeds from secured borrowing arrangement, net of reserves     11,423       9,377  
Payments on secured borrowing arrangement, net of fees     (13,781 )     (9,993 )
Repayment of finance lease obligations           (29 )
Repayment of notes payable     (108 )     (48 )
Net cash used in financing activities     (1,505 )     (1,086 )
                 
NET CHANGE IN CASH     (1,411 )     (914 )
CASH — BEGINNING OF PERIOD     2,003       1,532  
CASH — END OF PERIOD   $ 592     $ 618  
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:                
Cash paid for interest   $ 101     $ 168  

Non-GAAP Adjusted EBITDA

In addition to disclosing financial results calculated in accordance with U.S. GAAP, this press release discloses Adjusted EBITDA, which is net loss adjusted for stock-based compensation, gain on disposal of property and equipment, gain on settlements, interest and other expense, net, depreciation of property and equipment, amortization of intangible assets, (recovery) provision for doubtful accounts, and provision for income taxes.

Management uses Adjusted EBITDA as a supplement to U.S. GAAP measures to further evaluate period-to-period operating performance, as well as the Company’s ability to meet future working capital requirements. The exclusion of non-cash charges, including stock-based compensation, gain on disposal of property and equipment, depreciation of property and equipment, amortization of intangible assets (recovery) provision for doubtful accounts and provision for income taxes, is useful in measuring the Company’s cash available for operations and performance of the Company. Management believes these non-GAAP measures will provide investors with important additional perspectives in evaluating the Company’s ongoing business performance.

The U.S. GAAP measure most directly comparable to Adjusted EBITDA is net income (loss). The non-GAAP financial measure of Adjusted EBITDA should not be considered as an alternative to net income (loss). Adjusted EBITDA is not a presentation made in accordance with GAAP and has important limitations as an analytical tool and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. Because Adjusted EBITDA excludes some, but not all, items that affect net income (loss) and is defined differently by different companies, our definition of Adjusted EBITDA may not be comparable to similarly titled measures of other companies.

Set forth below are reconciliations of our reported GAAP net income (loss) to Adjusted EBITDA (in thousands):

    For the Three Months ended     For the Three Months ended  
    March 31, 2021     March 31, 2020  
             
Net income (loss)   $ 94       (60 )
                 
Non-GAAP adjustments:                
Stock-based compensation           100  
Gain on disposal of property and equipment           (11 )
Gain on settlements     (200 )      
Interest and other expense, net     512       539  
Depreciation and amortization of property and equipment     3       63  
Amortization of intangible assets     80       80  
(Recovery) provision for doubtful accounts     (11 )     11  
Provision for income taxes           22  
Adjusted EBITDA   $ 478     $ 744  



Allison Transmission Senior Vice President, Product Engineering & Planning, Randall R. Kirk to Retire August 6, 2021

Allison Transmission Senior Vice President, Product Engineering & Planning, Randall R. Kirk to Retire August 6, 2021

INDIANAPOLIS–(BUSINESS WIRE)–
Randall R. Kirk, Senior Vice President, Product Engineering & Planning of Allison Transmission Holdings, Inc. (NYSE: ALSN) has announced his retirement effective August 6, 2021.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210524005799/en/

Allison Transmission Senior Vice President, Product Engineering & Planning, Randall R. Kirk to Retire August 6, 2021. (Photo: Business Wire)

Allison Transmission Senior Vice President, Product Engineering & Planning, Randall R. Kirk to Retire August 6, 2021. (Photo: Business Wire)

“Randy has been instrumental in leading innovation in many areas of our business for 45 years,” said David S. Graziosi, Chairman and CEO of Allison Transmission. “His commitment and continuous pursuit to improve our products and processes has been central to delivering the Allison Brand Promise.”

Kirk is retiring after 45 years of service to General Motors Co. and subsequently Allison. He began his career as a General Motors Institute co-op student. Upon graduation from GMI, he served in a number of roles in the Operations and Quality organizations where he led Allison to its first International Standards Organization and Quality System quality certifications. Kirk then assumed the responsibilities of Product Team Leader for several product lines and in 2001 led the Global Customer Support organization. In 2007 Kirk assumed a new role of Executive Director of the Transition Program Manager Office, leading a cross-functional team with responsibilities for the separation from General Motors. Following completion of the divestiture, he was appointed Vice President, Product Engineering, later assuming additional responsibility for program management and product planning.

“Randy has guided the acceleration of our technology innovation and New Product Development initiatives to unprecedented levels,” said Graziosi. “His leadership has generated a robust product portfolio across the On-Highway, Off-Highway, and Defense end-markets, including electrified propulsion solutions.”

Kirk also championed investments in two significant technology facilities in order to accelerate product development. In 2020 a state-of-the-art Vehicle Environment Test center was launched providing comprehensive bespoke capability for commercial vehicle testing in a variety of environmental, road, and duty cycle simulation conditions. The Allison Innovation Center is nearing completion and is expected to open in early 2022 to allow consolidation of Allison’s product engineering groups and facilitate internal and external collaboration for technology and product co-development.

Randy graduated from GMI earning a bachelor’s degree in mechanical electrical engineering and received his master’s degree in business administration from Indiana University.

“Randy has been dedicated to the success of Allison Transmission,” said Graziosi. “He has positioned the organization for continued future success. I wish Randy and his family all the best in his well-earned retirement.”

About Allison Transmission

Allison Transmission (NYSE: ALSN) is a leading designer and manufacturer of vehicle propulsion solutions for commercial and defense vehicles, the largest global manufacturer of medium- and heavy-duty fully automatic transmissions, and a leader in electrified propulsion systems that Improve the Way the World Works. Allison products are used in a wide variety of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (school, transit and coach), motorhomes, off-highway vehicles and equipment (energy, mining and construction applications) and defense vehicles (tactical wheeled and tracked). Founded in 1915, the company is headquartered in Indianapolis, Indiana, USA. With a presence in more than 150 countries, Allison has regional headquarters in the Netherlands, China and Brazil, manufacturing facilities in the USA, Hungary and India, as well as global engineering resources, including electrification engineering centers in Indianapolis, Indiana, Auburn Hills, Michigan and London in the United Kingdom. Allison also has more than 1,400 independent distributor and dealer locations worldwide. For more information, visit allisontransmission.com.

Claire Gregory

Director, Global External Communications

[email protected]

(317) 694-2065

KEYWORDS: United States North America Indiana

INDUSTRY KEYWORDS: Alternative Vehicles/Fuels Automotive Other Automotive Automotive Manufacturing Recreational Vehicles General Automotive Performance & Special Interest Manufacturing

MEDIA:

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Allison Transmission Senior Vice President, Product Engineering & Planning, Randall R. Kirk to Retire August 6, 2021. (Photo: Business Wire)
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Hydrofarm Enters into Agreement to Acquire House & Garden

Manufacturer and Supplier of Hydroponic Nutrients and Equipment to Expand Hydrofarm’s Product Line and Market Position as Company Accelerates Strategic Acquisition Strategy

FAIRLESS HILLS, Pa., May 24, 2021 (GLOBE NEWSWIRE) — Hydrofarm Holdings Group, Inc. (“Hydrofarm”) (Nasdaq: HYFM), a leading independent distributor and manufacturer of hydroponics equipment and supplies for controlled environment agriculture (“CEA”), announced it has entered into an agreement to acquire House & Garden, Inc., Humboldt Wholesale, Inc., Allied Imports & Logistics, Inc., and South Coast Horticultural Supply, Inc. (collectively “House & Garden”) a Humboldt County, Calif.-based producer of quality nutrients under the House & Garden and Mad Farmer brands. The announcement follows Hydrofarm’s recent acquisition of nutrient manufacturer HEAVY 16 as the company accelerates its acquisition strategy.

Hydrofarm will fund the purchase price of approximately $125 million using its existing cash resources and under the terms of the transaction agreement, House & Garden will become a wholly owned indirect subsidiary of Hydrofarm Holdings Group, Inc.   Subject to customary closing conditions, the transaction is expected to be completed over the next 40 days.

“House & Garden offers a strong product line of plant nutrients that will strengthen our position in the nutrient sector and complement our rapidly expanding portfolio of premium products for controlled environment agriculture,” said Bill Toler, Chairman and Chief Executive Officer of Hydrofarm. “House & Garden’s expansive distribution network across nearly 40 states and 10 countries provides a tremendous opportunity for us to extend our global reach and market penetration.”

“We admire Hydrofarm’s deep roots as a leader in the hydroponics industry,” said Steven Muller, founder of House & Garden. “We share a vision for a greener, prosperous and sustainable future as we capitalize on this pivotal moment for indoor plant cultivation that’s been fueled by consumer behavior and shifting legislative tailwinds in markets across the country.”

The acquisition continues Hydrofarm’s strategic efforts to acquire manufacturers of branded products in key CEA product categories. The strategic combination of Hydrofarm’s leading distribution platform with the House & Garden and Mad Farmer brands is expected to drive further growth across the combined company’s global customer base. Hydrofarm expects House & Garden to generate approximately $55 million in net sales across the full calendar year 2021, representing significant growth from the prior year. House & Garden’s profit margin profile will be accretive to Hydrofarm and as a result, the Company expects the acquisition will enhance the Company’s adjusted EBITDA margin for the 2021 fiscal year. The transaction represents an acquisition multiple of less than 7x House & Garden’s estimated 2021 Adjusted EBITDA, excluding synergies.

The House & Garden brand line-up, including its popular Root Excelurator additives, and the Mad Farmer brand, will become the second and third “house” brands added via acquisition to Hydrofarm’s product portfolio this year. Hydrofarm intends to continue expanding its line-up of proprietary branded products in the lighting, climate control, nutrients and growing media categories via acquisition and in-house innovation.

Rothschild & Co. is serving as financial advisor and Cozen O’Connor is serving as legal advisor to Hydrofarm. Deloitte Corporate Finance LLC is serving as financial advisor and Dentons LLP is serving as legal advisor to House & Garden.

About Hydrofarm Holdings Group, Inc.

Hydrofarm is a leading distributor and manufacturer of controlled environment agriculture equipment and supplies, including high-intensity grow lights, climate control solutions, and growing media, as well as a broad portfolio of innovative and proprietary branded products. For more than 40 years, Hydrofarm has helped growers in the U.S. and Canadian markets make growing easier and more productive.  The Company’s mission is to empower growers, farmers and cultivators with products that enable greater quality, efficiency, consistency and speed in their grow projects.  For additional information, please visit: www.hydrofarm.com

About House & Garden

Humboldt County’s House & Garden is located in Arcata, Calif., and produces and distributes premium-grade plant nutrients and fertilizers across the globe. Whether you garden as a hobby, or grow food and/or flowers for the masses, House & Garden’s line of high quality plant nutrients and additives can aid in increasing your crop’s yield and overall quality. Visit https://house-garden.us for more information.

Cautionary Note Regarding Forward-Looking Statements

Statements contained in this press release, other than statements of historical fact, which address activities, events and developments that the Company expects or anticipates will or may occur in the future, including, but not limited to, information regarding the future economic performance and financial condition of the Company, the plans and objectives of the Company’s management, and the Company’s assumptions regarding such performance and plans are “forward-looking statements” within the meaning of the U.S. federal securities laws that are subject to risks and uncertainties. These forward-looking statements generally can be identified as statements that include phrases such as “guidance,” “outlook,” “projected,” “believe,” “target,” “predict,” “estimate,” “forecast,” “strategy,” “may,” “goal,” “expect,” “anticipate,” “intend,” “plan,” “foresee,” “likely,” “will,” “should” or other similar words or phrases. Actual results could differ materially from the forward-looking information in this release due to a variety of factors, including, but not limited to:

The ongoing COVID-19 pandemic could have a material adverse effect on the Company’s business, results of operation, financial condition and/or cash flows; Interruptions in the Company’s supply chain, whether due to COVID-19 or otherwise could adversely impact expected sales growth and operations; The highly competitive nature of the Company’s markets could adversely affect its ability to maintain or grow revenues; Certain of the Company’s products may be purchased for use in new or emerging industries or segments, including the cannabis industry, and/or be subject to varying, inconsistent, and rapidly changing laws, regulations, administrative and enforcement approaches, and consumer perceptions and, among other things, such laws, regulations, approaches and perceptions may adversely impact the market for the Company’s products; Compliance with environmental and other public health regulations or changes in such regulations or regulatory enforcement priorities could increase the Company’s costs of doing business or limit the Company’s ability to market all of its products; Damage to the Company’s reputation or the reputation of its products or products it markets on behalf of third parties could have an adverse effect on its business; If the Company is unable to effectively execute its e-commerce business, its reputation and operating results may be harmed; The Company’s operations may be impaired if its information technology systems fail to perform adequately or if it is the subject of a data breach or cyber-attack; The Company may not be able to adequately protect its intellectual property and other proprietary rights that are material to the Company’s business; Acquisitions, other strategic alliances and investments could result in operating and integration difficulties, dilution and other harmful consequences that may adversely impact the Company’s business and results of operations. Additional detailed information concerning a number of the important factors that could cause actual results to differ materially from the forward-looking information contained in this release is readily available in the Company’s annual, quarterly and other reports. The Company disclaims any obligation to update developments of these risk factors or to announce publicly any revision to any of the forward-looking statements contained in this release, or to make corrections to reflect future events or developments.

Investor Relations:

ICR
Fitzhugh Taylor
[email protected]

Media
Contacts:

The LAKPR Group
Hannah Arnold, 202-559-9171, [email protected]
Lynn Trono, 323-672-8226, [email protected]
-or-
Hydrofarm
Lisa Gallagher, 513-505-2334, [email protected]



AIG Announces Reference Yields for its Tender Offers for Certain Outstanding Notes

AIG Announces Reference Yields for its Tender Offers for Certain Outstanding Notes

NEW YORK–(BUSINESS WIRE)–
American International Group, Inc. (NYSE:AIG) today announced that the Reference Yields, based on the bid-side price of the Reference Treasury Securities set forth in the table below as displayed today on Bloomberg Page PX1 at 2:00 p.m., New York City time, for its previously announced cash tender offers (the “Tender Offers”) for any and all of the following series of notes is as follows:

Title

 

Original

Issuer

 

Principal

Amount

Outstanding

 

Reference

Treasury

Security

 

Reference

Yield

 

Bloomberg

Reference

Page

 

Fixed

Spread

 

Early

Tender

Payment(3)

 

Total

Consideration(4)

7.57% Junior Subordinated Deferrable Interest Debentures, Series A

 

American General Corporation(1)

 

$36,745,000

 

1.875% UST due 02/15/2051

 

2.315%

 

PX1

 

175 bps

 

$30

 

$1,540.72

8 1/8% Junior Subordinated Deferrable Interest Debentures, Series B

 

American General Corporation(1)

 

$211,987,000

 

1.875% UST due 02/15/2051

 

2.315%

 

PX1

 

175 bps

 

$30

 

$1,630.56

7 ½% Notes due 2025

 

American General Corporation(1)

 

$135,531,000

 

0.750% UST due 04/30/2026

 

0.807%

 

PX1

 

45 bps

 

$30

 

$1,250.83

6 5/8% Notes due 2029

 

American General Corporation(1)

 

$147,091,000

 

1.125% UST due 02/15/2031

 

1.604%

 

PX1

 

65 bps

 

$30

 

$1,308.06

8 ½% Junior Subordinated Debentures due 2030

 

American General Corporation(1)

 

$114,110,000

 

1.125% UST due 02/15/2031

 

1.604%

 

PX1

 

150 bps

 

$30

 

$1,424.77

8.125% Debentures due April 28, 2023

 

SunAmerica Inc.(2)

 

$86,367,000

 

0.125% UST due 04/30/2023

 

0.153%

 

PX1

 

0 bps

 

$30

 

$1,152.95

7.05% Notes due 2025

 

SunAmerica Inc. (2)

 

$13,640,000

 

0.750% UST due 04/30/2026

 

0.807%

 

PX1

 

40 bps

 

$30

 

$1,255.94

7.00% Notes due 2026

 

SunAmerica Inc. (2)

 

$8,797,000

 

0.750% UST due 04/30/2026

 

0.807%

 

PX1

 

45 bps

 

$30

 

$1,262.03

5.60% Debentures due 2097

 

SunAmerica Inc. (2)

 

$19,996,000

 

1.875% UST due 02/15/2051

 

2.315%

 

PX1

 

170 bps

 

$30

 

$1,375.60

_______________________

(1)

 

The current obligor for this series of notes is AIG Life Holdings, Inc. (“AIG Life Holdings”), a wholly owned subsidiary of AIG and successor to American General Corporation, and each series of such notes is, as of the date hereof, guaranteed by AIG. Collectively, these series of notes are referred to herein as the “AIG Life Holdings Notes.”

(2)

 

The current obligor for this series of notes is AIG (as successor to SunAmerica Inc.). Collectively, these series of notes are referred to herein as the “SunAmerica Notes” and the Tender Offers for the SunAmerica Notes are referred to herein as the “SunAmerica Tender Offers.”

(3)

 

Per $1,000 principal amount of notes tendered and accepted for purchase. With respect to the 7.57% Junior Subordinated Deferrable Interest Debentures, Series A and the 8 1/8% Junior Subordinated Deferrable Interest Debentures, Series B (referred to herein as the “Series A-B Notes”) and the SunAmerica Notes, the “Early Tender Payment” includes the payment of a consent fee to holders that delivered tenders and accompanying consents prior to the Early Tender Time. The Early Tender Payment is included in “Total Consideration” and not included in “Tender Offer Consideration.”

(4)

 

Per $1,000 principal amount of notes tendered and accepted for purchase, based upon the “Reference Yield” determined as of 2:00 p.m., New York City time, on May 24, 2021; excludes accrued and unpaid interest; assumes settlement on May 26, 2021.

The complete terms of the Tender Offers are set forth in AIG’s Offer to Purchase and Consent Solictation Statement for the SunAmerica Notes, dated May 11, 2021, and AIG’s Offer to Purchase and Consent Solictation Statement for the AIG Life Holdings Notes, dated May 11, 2021 (each, an “Offer to Purchase and Consent Solicitation”) and the related letters of transmittal. The Reference Yield will be used to determine the Total Consideration paid for each series of notes validly tendered and accepted for purchase at or prior to the “Early Tender Time,” which is 5:00 p.m., New York City time, on May 24, 2021. The Tender Offers are scheduled to expire at the “Expiration Time,” which is 11:59 p.m., New York City time, on June 8, 2021, unless extended or earlier terminated. Tenders of notes may be validly withdrawn at any time at or prior to 5:00 p.m., New York City time, on May 24, 2021, but not thereafter.

Holders who validly tendered and did not validly withdraw their notes at or prior to the Early Tender Time and whose tenders are accepted for purchase will receive the Total Consideration set forth in the table above, which includes an Early Tender Payment of $30 per $1,000 principal amount of notes validly tendered and accepted for purchase. The Total Consideration will be payable promptly on May 26, 2021 (the “Early Settlement Date”). Holders validly tendering their notes after the Early Tender Time and whose securities are accepted for purchase will only be eligible to receive the “Tender Offer Consideration,” which is the Total Consideration minus the Early Tender Payment. The Tender Offer Consideration will be payable promptly following the Expiration Time. In addition to the Total Consideration or Tender Offer Consideration, as applicable, holders of notes accepted for payment will receive accrued and unpaid interest from the last interest payment date for the notes to, but not including, the applicable settlement date.

AIG will also pay a soliciting broker fee of $5.00 per $1,000 principal amount of the SunAmerica Notes that are validly tendered and accepted for purchase pursuant to the SunAmerica Tender Offers or for which Consents have been delivered pursuant to the SunAmerica Consent Solicitations to retail brokers that are appropriately designated by their tendering Holder clients to receive this fee; provided that such fee will only be paid with respect to tenders by Holders whose aggregate principal amount of SunAmerica Notes and/or Consents is $500,000 or less.

AIG has retained Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC to serve as dealer managers and consent solicitation agents for the Tender Offers and solicitations of consents to certain proposed amendments to (i) the indenture under which the SunAmerica Notes were originally issued by SunAmerica Inc. (the “SunAmerica Consent Solicitations”) and (ii) the indenture under which the Series A-B Notes were issued (together with the SunAmerica Consent Solicitations, the “Consent Solicitations”), and has retained D.F. King, Inc. to serve as the tender and information agent for the Tender Offers and Consent Solicitations. Requests for documents may be directed to D.F. King, Inc. by telephone at (800) 334-0384 (toll free) or (212) 269-5550 (for banks and brokers) or by email at [email protected]. Questions regarding the Tender Offers and Consent Solicitations may be directed to either Credit Suisse Securities (USA) LLC at (800) 820-1653 (toll-free) or (212) 538-2147 (collect) or J.P. Morgan Securities LLC at (866) 834-4666 (toll free) or (212) 834-4045 (collect).

The Tender Offers are subject to the satisfaction of certain conditions. AIG may terminate or alter any or all of the Tender Offers and is not obligated to accept for payment, purchase or pay for, and may delay the acceptance for payment of, any tendered notes, in each event subject to applicable laws. The Tender Offers are not conditioned on the tender of a minimum principal amount of notes.

This press release is neither an offer to purchase nor a solicitation of an offer to sell the notes or any other securities. The Tender Offers are made only by and pursuant to the terms of each Offer to Purchase and Consent Solicitation and the related letters of transmittal and only to such persons and in such jurisdictions as is permitted under applicable law. The information in this press release is qualified by reference to each Offer to Purchase and Consent Solicitation and the related letters of transmittal. None of AIG, the dealer managers and consent solicitation agents or the tender and information agent makes any recommendations as to whether holders should tender their notes pursuant to the Tender Offers. Holders must make their own decisions as to whether to tender notes, and, if so, the principal amount of notes to tender.

Certain statements in this press release, including those describing the completion of the Tender Offers, constitute forward-looking statements. These statements are not historical facts but instead represent only AIG’s belief regarding future events, many of which, by their nature, are inherently uncertain and outside AIG’s control. It is possible that actual results will differ, possibly materially, from the anticipated results indicated in these statements. Factors that could cause actual results to differ, possibly materially, from those in the forward-looking statements are discussed throughout AIG’s periodic filings with the SEC pursuant to the Securities Exchange Act of 1934.

American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in approximately 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange.

Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.

AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.

Shelley Singh (Investors): [email protected]

Claire Talcott (Media): [email protected]

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Insurance Professional Services

MEDIA:

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Tarsus Pharmaceuticals, Inc. to Present at the Jefferies Virtual Healthcare Conference

IRVINE, Calif., May 24, 2021 (GLOBE NEWSWIRE) — Tarsus Pharmaceuticals, Inc. (NASDAQ: TARS), a late clinical-stage biopharmaceutical company whose mission is to focus on unmet needs and apply proven science and new technology to revolutionize treatment for patients, starting with eye care, today announced Bobak Azamian, M.D., Ph.D., President and Chief Executive Officer of Tarsus and Aziz Mottiwala, Chief Commercial Officer of Tarsus will present an overview of the company at the Jefferies Virtual Healthcare Conference. In addition to the presentation, the management team will host investor meetings at the conference.

Presentation Details
Date: Wednesday, June 2
Time: 3:00 PM ET/ 12:00 PM PT
Webcast: https://wsw.com/webcast/jeff174/tars/1868886

The live webcast will be hosted on ir.tarsusrx.com and available for replay for a period of 90 days.

About Tarsus Pharmaceuticals, Inc.

Tarsus Pharmaceuticals, Inc. is a late clinical-stage biopharmaceutical company that applies proven science and new technology to revolutionize treatment for patients, starting with eye care. It is advancing its pipeline to address several diseases with high unmet need across a range of therapeutic categories, including eye care, dermatology, and infectious disease prevention. Its lead product candidate, TP-03, is a novel therapeutic being studied in two pivotal trials for the treatment of Demodex blepharitis. TP-03 is also being developed for the treatment of Meibomian Gland Disease.

Forward-Looking Statements

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements.” The words, without limitation, “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would,” or the negative of these terms or other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these or similar identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors. Important factors that could cause actual results to differ materially from those in the forward-looking statements include: Tarsus has incurred significant losses and negative cash flows from operations since inception and anticipates that it will continue to incur significant expenses and losses for the foreseeable future; Tarsus may need to obtain additional funding to complete the development and any commercialization of its product candidates, if approved; Tarsus is heavily dependent on the success of its lead product candidate, TP-03 for the treatment of Demodex blepharitis; the COVID-19 pandemic may affect Tarsus’ ability to initiate and complete preclinical studies and clinical trials, disrupt regulatory activities, disrupt manufacturing and supply chain or have other adverse effects on Tarsus’ business and operations; even if TP-03, TP-05, or any other product candidate that Tarsus develops receives marketing approval, Tarsus may not be successful in educating eye care physicians and the market about the need for treatments specifically for Demodex blepharitis, Lyme disease, and/or other diseases or conditions targeted by Tarsus’ products; the development and commercialization of Tarsus products is dependent on intellectual property it licenses from Elanco Tiergesundheit AG; Tarsus will need to develop and expand the company and Tarsus may encounter difficulties in managing its growth, which could disrupt its operations; the sizes of the market opportunity for Tarsus’ product candidates, particularly TP-03 for the treatment of Demodex blepharitis and MGD, as well as TP-05 for the treatment of Lyme disease, have not been established with precision and may be smaller than estimated; the results of Tarsus’ earlier studies and trials may not be predictive of future results; any termination or suspension of, or delays in the commencement or completion of, Tarsus’ planned clinical trials could result in increased costs, delay or limit its ability to generate revenue and adversely affect its commercial prospects; and if Tarsus is unable to obtain and maintain sufficient intellectual property protection for its product candidates, or if the scope of the intellectual property protection is not sufficiently broad, Tarsus’ competitors could develop and commercialize products similar or identical to Tarsus’ products. Further, there are other risks and uncertainties that could cause actual results to differ from those set forth in the forward-looking statement and they are detailed from time to time in the reports Tarsus files with the Securities and Exchange Commission, including Tarsus’ Form 10-K for the year ended December 31, 2020 filed with the SEC on March 31, 2021, which Tarsus incorporates by reference into this press release, copies of which are posted on its website and are available from Tarsus without charge. However, new risk factors and uncertainties may emerge from time to time, and it is not possible to predict all risk factors and uncertainties. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements. Any forward-looking statements contained in this press release are based on the current expectations of Tarsus’ management team and speak only as of the date hereof, and Tarsus specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Media Contact:
SuJin Oh
Shop PR
(917) 841-5213
[email protected]
 
Investor Contact:
Patti Bank
Westwicke Partners, an ICR company
(415) 513-1284
[email protected]



Shake Shack to Participate in Spring Virtual Investor Conferences

Shake Shack to Participate in Spring Virtual Investor Conferences

NEW YORK–(BUSINESS WIRE)–
Shake Shack Inc. (“Shake Shack” or the “Company”) (NYSE:SHAK), today announced that the Company will be participating in the following virtual investor conferences this spring:

  • On Thursday, May 27, 2021, the Company will host a fireside chat at the Cowen 2nd Annual Digital Dining Summit. The fireside chat will begin at 9:20 am ET.
  • On Wednesday, June 2, 2021, the Company will host a fireside chat at the William Blair’s 41st Annual Growth Stock Conference. The fireside chat will begin at 10:20 am ET.
  • On Thursday, June 10, 2021, the Company will host a fireside chat at the Baird 2021 Global Consumer, Technology & Services Conference. The fireside chat will begin at 9:40 am ET.
  • On Wednesday, June 16, 2021, the Company will host a fireside chat at the Oppenheimer 21st Annual Consumer Growth and E-Commerce Conference. The fireside chat will begin at 9:55 am ET.

The presentations and fireside chats will be webcast live from the Company’s Investor Relations website at http://investor.shakeshack.com.

About Shake Shack

Shake Shack is a modern day “roadside” burger stand serving a classic American menu of premium burgers, chicken sandwiches, hot dogs, crinkle cut fries, shakes, frozen custard, beer and wine. With its fresh, simple, high-quality food at a great value, Shake Shack is a fun and lively community gathering place with widespread appeal. Shake Shack’s mission is to Stand for Something Good®, from its premium ingredients and caring hiring practices to its inspiring designs and deep community investment. Since the original Shack opened in 2004 in NYC’s Madison Square Park, the Company has expanded to approximately 320 locations in 30 U.S. States and the District of Columbia, including more than 100 international locations including London, Hong Kong, Shanghai, Singapore, Philippines, Mexico, Istanbul, Dubai, Tokyo, Seoul and more.

Investor Contact:

ICR

Melissa Calandruccio,

Michelle Michalski,

(844) SHACK04 (844-742-2504)

[email protected]

Media Contact:

Shake Shack

Kristyn Clark, 646-747-8776

[email protected]

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Retail Restaurant/Bar Food/Beverage

MEDIA:

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