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Olema Oncology to Present Data on OP-1250 at the 2021 JCA-AACR Precision Cancer Medicine International Conference

SAN FRANCISCO, Sept. 09, 2021 (GLOBE NEWSWIRE) — Olema Pharmaceuticals, Inc. (“Olema” or “Olema Oncology,” Nasdaq: OLMA), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of targeted therapies for women’s cancers, today announced a poster presentation of new preclinical data on OP-1250, a complete estrogen receptor (ER) antagonist (CERAN) and a selective ER degrader (SERD) being developed for the treatment of metastatic breast cancer and other women’s cancers, at the 1st JCA-AACR Precision Cancer Medicine International Conference being held virtually from September 10-12, 2021 (U.S.) and September 11-12 (Japan).

A virtual e-poster presentation titled, “Complete Estrogen Receptor (ER) Antagonism As An Optimal Approach for ER-Positive Breast Cancer Drug Development,” along with a pre-recorded audio narration will be available on-demand on the conference website.

About Olema Oncology

Olema Oncology is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of targeted therapies for women’s cancers. Olema’s lead product candidate, OP-1250, is an orally-available small molecule with combined activity as both a complete estrogen receptor (ER) antagonist (CERAN) and a selective ER degrader (SERD). It is currently being evaluated as a single agent in an ongoing Phase 1/2 clinical trial in patients with recurrent, locally advanced or metastatic ER-positive (ER+), human epidermal growth factor receptor 2-negative (HER2-) breast cancer. Olema is headquartered in San Francisco.

Forward Looking Statements

Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Words such as “anticipate,” “expect,” “intend,” “will,” “may,” “goal,” “estimate,” “potential” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These statements include those related to the development of OP-1250, including timelines related to data presentation, trial initiation and advancement, and enrollment, as well as the sufficiency of our financial resources. Because such statements deal with future events and are based on Olema’s current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of Olema could differ materially from those described in or implied by the statements in this press release. These forward-looking statements are subject to risks and uncertainties, including, without limitation, the risk that Olema’s ongoing or future clinical studies in humans may show that OP-1250 is not a tolerable and effective treatment for breast cancer and other risks and uncertainties affecting Olema, as well as those discussed in the section titled “Risk Factors” in Olema’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2021 to be filed on August 10, 2021 and future filings and reports that Olema makes from time to time with the United States Securities and Exchange Commission. Except as required by law, Olema assumes no obligation to update these forward-looking statements or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.

Contact:
Eva Stroynowski
Vice President, Communications and Investor Relations
[email protected]



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KemPharm to Present at the Virtual H.C. Wainwright 23rd Annual Global Investment Conference

CELEBRATION, Fla., Sept. 09, 2021 (GLOBE NEWSWIRE) — KemPharm, Inc. (NASDAQ: KMPH), a specialty pharmaceutical company focused on the discovery and development of proprietary prodrugs, today announced that Travis C. Mickle, Ph.D., President and Chief Executive Officer of KemPharm, will present virtually at the H.C. Wainwright 23rd Annual Global Investment Conference taking place September 13-15, 2021. The prerecorded presentation will be available starting at 9:00 a.m., ET on September 13, 2021, and can be accessed via the conference’s virtual platform by registered conference attendees.

Details of the presentation are as follows:

Event: H.C. Wainwright 23rd Annual Global Investment Conference
Date: September 13-15, 2021
Time: Presentations available starting at 9:00 a.m., ET on September 13, 2021
Registration: https://hcwevents.com/annualconference/

About KemPharm:

KemPharm is a specialty pharmaceutical company focused on the discovery and development of proprietary prodrugs to treat serious medical conditions through its proprietary LAT® (Ligand Activated Therapy) technology.  KemPharm utilizes its proprietary LAT® technology to generate improved prodrug versions of FDA-approved drugs as well as to generate prodrug versions of existing compounds that may have applications for new disease indications. KemPharm’s prodrug product candidate pipeline is focused on the high need areas of attention deficit hyperactivity disorder, or ADHD, stimulant use disorder (SUD) and CNS rare diseases, including idiopathic hypersomnia (IH). KemPharm’s lead clinical development candidate for the treatment of SUD, KP879, is based on its prodrug of d-methylphenidate, known as serdexmethylphenidate (SDX). In addition, KemPharm has received FDA approval for AZSTARYSTM, a new once-daily treatment for ADHD in patents age six years and older, and for APADAZ®, an immediate-release combination product containing benzhydrocodone, a prodrug of hydrocodone, and acetaminophen. For more information on KemPharm and its pipeline of prodrug product candidates visit www.kempharm.com or connect with us on Twitter, LinkedIn, Facebook and YouTube.

KemPharm Contacts:


Tiberend Strategic Advisors, Inc.


Jason Rando/Maureen McEnroe, CFA
(212) 375-2665 / 2664
[email protected]
[email protected]



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DraftKings Launches Online Sports Betting in Arizona

Arrival of Top-Rated Mobile Sportsbook App Follows Successful Daily Fantasy Sports Debut

BOSTON, Sept. 09, 2021 (GLOBE NEWSWIRE) — DraftKings Inc. (Nasdaq: DKNG) announced today the launch of DraftKings’ online Sportsbook in Arizona, marking the 14th state in which the top-rated mobile sportsbook is available. Arizona sports fans age 21 and over are now able to place wagers on a variety of betting markets across professional, collegiate and other sports leagues via the DraftKings Sportsbook app. The announcement comes following a successful launch of DraftKings’ daily fantasy product which experienced more than 90,000 contest entries in the first 12 days.

“With the launch of our digital sportsbook coinciding with NFL kickoff, the busiest and most exciting time of the year for our company, we could not have imagined a better time to introduce Arizona’s sports fans to the DraftKings experience,” said Matt Kalish, co-founder and president of DraftKings North America. “We would also like to thank the PGA TOUR, TPC Scottsdale, as well as Governor Doug Ducey and his team, Representative Jeff Weninger, Senator T.J. Shope, the Arizona state legislature, and the Arizona Department of Gaming for working together to further fan engagement across sports. We look forward to becoming the sportsbook of choice for Arizonans across the state.”

“The PGA TOUR is excited for the launch of mobile sports betting in Arizona as a major step forward as we look to advance audience development and fan engagement opportunities,” said Norb Gambuzza, Senior Vice President of Media and Gaming at the PGA TOUR. “We are diligently working with DraftKings, the City of Scottsdale, The Thunderbirds and the Waste Management Phoenix Open on plans for a world-class sportsbook experience at TPC Scottsdale. We look forward to being able to share the plans in the near future.”

Arizona boasts a strong sports culture including popular professional teams across several sports such as baseball, basketball, hockey, and football as well as major college sports football and basketball programs. With plenty of in-state teams, Arizona is well-equipped to offer year-round betting opportunities to the state’s skin-in-the-game sports fans. This includes same game parlays and micro-betting; a result of DraftKings’ migration to its own backend technology and provide a greater variety of betting means outside of standard wagering and pre-match options.

Additionally, as part of DraftKings’ commitment to environmental initiatives, and in collaboration with the Arbor Day Foundation, DraftKings Sportsbook is hosting an earth-themed $500 free-to-play Pool open to all Arizona customers. DraftKings has committed to funding the planting of 1 million trees by Earth Day 2022, and each entry in the pool equates to one tree planted towards this overall effort. Now live, customers can access the pool via both DraftKings Sportsbook here.

Earlier this year DraftKings announced plans for a premium retail sportsbook at TPC Scottsdale as part of an expanded agreement with the PGA TOUR. A unique, “19th hole” experience, details surrounding the proposed retail location are set to be announced at a later date.

DraftKings remains committed to providing a safe and responsible gaming (RG) platform. Through RG tools, self-imposed player limits, identify verification and state-of-the-art geolocation, DraftKings Sportsbook ensures all players are provided secure and positive gaming experience. As an active member of the American Gaming Association (AGA) and the National Council on Problem Gambling (NCPG), additional details on DraftKings’ dedication to safe play are available via DraftKings S.E.R.V.E.S.

Fans can find the latest betting markets and more by downloading the DraftKings Sportsbook app available via iOS and Android here.

About DraftKings

DraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. DraftKings’ Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in Arizona, Colorado, Illinois, Indiana, Iowa, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia and Wyoming. DraftKings’ daily fantasy sports product is available in 7 countries internationally with 15 distinct sports categories. DraftKings is the official daily fantasy partner of the NFL, MLB, NASCAR, PGA TOUR and UFC as well as an authorized gaming operator of the NBA and MLB, an official sports betting partner of the NFL, an official betting operator of PGA TOUR and the official betting operator of UFC. Launched in August 2021, DraftKings Marketplace is a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. DraftKings also owns Vegas Sports Information Network, Inc. (VSiN), a multi-platform broadcast and content company.

Forward Looking Statements

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside DraftKings’ control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see DraftKings’ Securities and Exchange Commission filings. DraftKings does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Media Contact

[email protected]

@DraftKingsNews



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DAVIDsTEA expands presence with “store-within-a-store” concept in Rexall pharmacies

The best of DAVIDsTEA tea sachets and pre-packs conveniently available at Rexall pharmacies across Canada

MONTRÉAL, Sept. 09, 2021 (GLOBE NEWSWIRE) — DAVIDsTEA Inc. (Nasdaq:DTEA), a leading tea merchant in North America, is pleased to announce the expanded availability of its tea sachets, pre-packs and samplers in over 110 Rexall pharmacies, a leading Canadian drugstore operator.

Following a successful pilot launched in March of this year, DAVIDsTEA has expanded its presence from 5 to 46 Rexall locations in Central Canada since June. With 69 more locations being added in Rexall stores in Canada this September, DAVIDsTEA is confident that Rexall’s “store-within-a-store” concept will help to further strengthen its brand recognition across the country.

With a 4-foot footprint for DAVIDsTEA in each store, showcasing over 25 SKUs, this new partnership provides a unique opportunity to speak directly to customers and to distribute unique educational marketing materials about the benefits of tea to Canadians. Acting as a one-stop tea shop, customers will now have access to an assortment of ready-to-steep sachets, tins of loose leaf and matcha, tea filters, and sampler packs—meeting the needs for personal consumption and gifting, conveniently available at their local pharmacy.

“Rexall was a natural choice for us as a partner,” said Sarah Segal, Chief Executive Officer and Chief Brand Officer, DAVIDsTEA. “We know how healing tea can be, and with Rexall’s dedication to wellness, we knew this would be an authentic partnership for both brands,” she continued. “Reaching our community of tea lovers in new, local and accessible ways is an important part of DAVIDsTEA’s transformation as a digital-first company, and we’re thrilled to work with Rexall to achieve this.”

“DAVIDsTEA’s expansion to 115 Rexall locations is just the beginning. We see this as phase 1 of our expanded wholesale distribution footprint in a post-COVID consumer environment,” said Frank Zitella, President and Chief Financial and Operating Officer, DAVIDsTEA. “As we look for new and innovative ways to accelerate revenue beyond our growing e-commerce business supported by our 18 flagship stores, we are confident we will secure and reinforce our position as leading tea merchants.”

About DAVIDsTEA

DAVIDsTEA offers a specialty branded selection of high-quality loose-leaf teas, pre-packaged teas, tea sachets, tea-related accessories and gifts through its e-commerce platform at www.davidstea.com, the Amazon Marketplace, its wholesale customers which include over 3,300 grocery stores and pharmacies, and 18 company-owned stores across Canada. It offers primarily proprietary tea blends that are exclusive to the Company, as well as traditional single-origin teas and herbs. The team’s passion for and knowledge of tea permeates the Company’s culture and is rooted in an excitement to explore the taste, health and lifestyle elements of tea. With a focus on innovative flavours, wellness-driven ingredients and organic tea, the Company launches seasonally driven “collections” with a mission of making tea fun and accessible to all. The Company is headquartered in Montréal, Canada.

For more information or media requests, please contact:

PELICAN PR
Lyla Radmanovich
514-845-8763
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f09205ca-c662-4b9b-84ae-d8630ad621ba



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Repligen and Navigo GmbH Announce Launch of Industry-First Protein A Ligand for Purification of pH Sensitive Antibodies

WALTHAM, Mass., Sept. 09, 2021 (GLOBE NEWSWIRE) — Repligen Corporation (NASDAQ:RGEN), a life sciences company focused on bioprocessing technology leadership, and Navigo Proteins GmbH (“Navigo”), today announced they have completed development and validation of a novel protein A ligand that overcomes challenges associated with the purification of pH sensitive antibodies and Fc-fusion proteins. Named NGL-Impact® A Hi pH, the new ligand is the first to address antibody aggregation in low pH elution buffers. While developed specifically to address pH sensitive antibodies and Fc-fusion proteins, NGL-Impact A Hi pH ligand demonstrates high performance for all antibodies, and can be considered for “platform” use due to its broad pH operating range.

Ralf Kuriyel, Repligen Senior Vice President R&D, said, “This new best-in-class ligand addresses one of the major pain points in antibody drug purification which is the formation of aggregates during Protein A elution. Our new NGL-Impact A Hi pH ligand has demonstrated in customer evaluations two-fold lower levels of aggregate formation while maintaining high dynamic binding capacity and excellent caustic stability. We have completed all scale-up and validation work and now look forward to this ligand being commercialized on a new resin later this year, through our partnership with Purolite.”

Dr. Henning Afflerbach, CEO of Navigo Proteins, said, “The rapid deployment of our Precision Capturing® technology and working in parallel with the Repligen team has again resulted in delivering a differentiated ligand product that addresses an industry bottleneck. The introduction of a high pH, high performing ligand into the market represents a potential real cost- and time savings for developers of pH sensitive antibodies and Fc-fusion proteins. We believe the performance enabled by this ligand will prove very attractive in the market, for purification of all antibodies and Fc containing proteins.”

Protein A affinity ligands are the critical component of Protein A chromatography media that enable the affinity purification of monoclonal antibody-based biologic drugs. There are currently more than 120 monoclonal antibodies and Fc-fusion proteins that have received U.S. FDA regulatory approval and more than 600 are at various stages of clinical development.  

About Repligen Corporation

Repligen Corporation is a global life sciences company that develops and commercializes highly innovative bioprocessing technologies and systems that increase efficiencies in the process of manufacturing biological drugs. We are inspiring advances in bioprocessing for the customers we serve; primarily biopharmaceutical drug developers and contract development and manufacturing organizations (CDMOs) worldwide. Our corporate headquarters are located in Waltham, Massachusetts, with additional administrative and manufacturing operations worldwide. The majority of our manufacturing sites are located within the U.S. (California, Massachusetts, New Jersey and New York), and outside of the U.S. we have sites in Estonia, France, Germany, Ireland, the Netherlands and Sweden.

About Navigo Proteins GmbH

Navigo Proteins is a premier protein engineering company, specialized in creating novel affinity ligands for custom affinity purification of complex biologics (Precision Capturing®) and as ligands in biotherapeutic drug candidates (Precision Targeting). Navigo’s unique protein engineering expertise is based on the company’s proprietary platform of different small and stable, yet highly engineerable scaffold proteins. Navigo’s Precision Capturing unit creates affinity ligands and chromatography resins that specifically bind and purify biologics, even without Fc part and notably enables platformized one-step downstream processes. Precision Capturing is based on an artificial Protein A scaffold, combining the downstream processing industry-accepted virtues of Protein A with novel selectivities and mild elution conditions. Precision Capturing is applicable for purifying recombinant proteins, monoclonal antibodies, viruses, VLPs and other biologics. Navigo works with renowned global partners to convert its affinity ligands into ready-to-use, GMP-compliant affinity resins for large-scale, commercial biologics downstream processing.


Repligen Forward Looking Statements


The following
constitutes
a
“Safe
Harbor”
statement
under
the
Private
Securities
Litigation
Reform
Act
of
1995:
This press
release
contains
forward-looking
statements,
which
are
made
pursuant
to
the
safe
harbor
provisions
of
Section 27A
of
the
Securities
Act
of
1933,
as
amended,
and
Section
21E
of
the
Securities
Exchange
Act
of
1934,
as
amended. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, express or implied statements regarding market demand for high pH ligands and related resins, customer acceptance of these ligands and resins, manufacturing scale-up and validation activities for the commercialization of high pH ligands and related resins, and the expected synergies from Repligen’s partnership with Navigo constitute forward-looking statements identified by words like “believe,” “expect,” “may,” “will,” “should,” “seek,” “anticipate,” or “could” and similar expressions. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including, without limitation, risks associated with: our ability to successfully grow our bioprocessing business, including as a result of acquisition, commercialization or partnership opportunities; our ability to successfully integrate any acquisitions, our ability to develop and commercialize products and the market acceptance of our products; reduced demand for our products that adversely impacts our future revenues, cash flows, results of operations and financial condition; our ability to compete with larger, better financed bioprocessing, pharmaceutical and biotechnology companies; our compliance with all Food and Drug Administration and EMEA regulations; our volatile stock price; and other risks detailed in Repligen’s Annual Report on Form 10-K for the year ended December 31, 2020 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 on file with the Securities and Exchange Commission and the other reports that Repligen periodically files with the Securities and Exchange Commission.
Actual results
may
differ
materially
from
those
Repligen
contemplated
by
these
forward-looking
statements.
These
forward looking
statements
reflect
management’s
current
views
and
Repligen
does
not
undertake
to
update
any
of
these forward-looking statements to reflect a change in its views or events or circumstances that occur after the date
hereof except as required by
law.

Repligen Contact:

Sondra S. Newman
Global Head of Investor Relations
(781) 419-1881
[email protected]

Navigo GmbH Contact:

Laura Müller
Business Development Manager
+49 (0)345 27996337
[email protected] 



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Desktop Metal Acquires Aidro, Adding Critical Capabilities in Design and High-volume Production of Fluid Power Systems Through Additive Manufacturing

Desktop Metal Acquires Aidro, Adding Critical Capabilities in Design and High-volume Production of Fluid Power Systems Through Additive Manufacturing

Acquisition Adds Unique Application Expertise to Accelerate Adoption of Additive Manufacturing 2.0 by Major OEMs in Hydraulics, Oil & Gas, Aerospace, Machinery, and Other Industrial Sectors

BOSTON–(BUSINESS WIRE)–
Desktop Metal (NYSE: DM) today announced it has acquired Aidro, a pioneer in the volume production of next-generation hydraulic and fluid power systems through metal additive manufacturing (AM) across a wide range of industries, including oil & gas, agricultural equipment, aerospace, and mobile and industrial machinery, among others.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210909005488/en/

Aidro, based in Italy, is a pioneer in the volume production of next-generation hydraulic and fluid power systems through metal additive manufacturing (AM) across a wide range of industries, including oil and gas, industrials, agriculture, aerospace, and mobile and industrial machinery. (Photo: Business Wire)

Aidro, based in Italy, is a pioneer in the volume production of next-generation hydraulic and fluid power systems through metal additive manufacturing (AM) across a wide range of industries, including oil and gas, industrials, agriculture, aerospace, and mobile and industrial machinery. (Photo: Business Wire)

Founded in 1982 and based in northern Italy, Aidro has almost 40 years of experience in the design and production of valves, manifolds, and various hydraulic components and fluid power systems. Aidro offers best-in-class expertise in design for additive manufacturing, including finite element analysis simulation and topology optimization techniques. Aidro engineers leverage these technical capabilities to redesign traditional hydraulic components for AM production using complex geometries to reduce weight, save space, and consolidate multiple components into one, eliminating assembly and welding requirements. Hydraulic components produced by Aidro using AM improve performance versus conventional manufacturing by optimizing flow channel placement and geometry to increase flow capacity and decrease pressure drops.

To offer customers innovative and custom solutions, Aidro has invested in AM facilities and processes alongside its conventional manufacturing capabilities. The company’s dedicated AM department features metal 3D printers, 3D scanning technologies, and ISO9001 and AS/EN9100 certifications, all leveraged to deliver high-performance products to customers, including industry-leading original equipment manufacturers (OEMs), while reducing production lead times for volume quantities of end-use components, spare parts, or on-demand rapid prototypes.

“This acquisition advances Desktop Metal’s strategy to support our major OEM customers with proprietary design and application know-how as well as through a combination of best-in-class AM products and high-value parts production across killer applications for AM 2.0,” said Ric Fulop, Founder and CEO of Desktop Metal. “Aidro brings a talented team with decades of experience in hydraulics and fluid power systems and a passion for leveraging AM to deliver performance advantages to their customers. We’re excited about the acquisition and look forward to advancing AM 2.0 for high-volume production of hydraulics, valves, fluid power systems, and many more end-use parts in development with Aidro.”

“Additive manufacturing offers benefits unmatched by conventional manufacturing, and once Aidro realized the advantages of leveraging AM, we quickly allocated resources to develop expertise and take advantage of the opportunity,” said Valeria Tirelli, Co-CEO and President of Aidro. “This partnership is the next step in our AM evolution, and now, with access to Desktop Metal’s scale and industry-leading AM 2.0 technology portfolio, including its volume production-focused metal binder jetting solutions, we’re thrilled at the growth potential for Aidro.”

“We are thrilled to join forces with Desktop Metal,” said Tommaso Tirelli, Co-CEO and VP Business Development of Aidro. “This partnership will enable us to continue investing in the expansion of AM for next-generation hydraulic solutions to disrupt massive industries such as oil & gas and aerospace.”

“With the collaboration and support of Desktop Metal, we will be able to take our AM capabilities in hydraulics to the next level,” said Alberto Tacconelli, GM of Aidro. “We are ready to embrace AM to develop innovative products for our customers, leveraging mass production technologies to achieve affordable part costs and high-performance designs that overcome the limitations of conventional manufacturing.”

About Desktop Metal

Desktop Metal, Inc., based in Burlington, Massachusetts, is accelerating the transformation of manufacturing with an expansive portfolio of 3D printing solutions, from rapid prototyping to mass production. Founded in 2015 by leaders in advanced manufacturing, metallurgy, and robotics, the company is addressing the unmet challenges of speed, cost, and quality to make additive manufacturing an essential tool for engineers and manufacturers around the world. Desktop Metal was selected as one of the world’s 30 most promising Technology Pioneers by the World Economic Forum and named to MIT Technology Review’s list of 50 Smartest Companies.

For more information, visit www.desktopmetal.com.

About Aidro

Aidro s.r.l., founded in 1982 and headquartered in Italy, is a pioneer in design and production of components for hydraulic and fluid power systems via additive manufacturing. The Company offers innovative and custom solutions that leverage the benefits of additive manufacturing including lightweighting, assembly consolidation, and performance improvements, to customers across sectors such as oil & gas, industrials, agriculture, aerospace, and mobile and industrial machinery, among others.

For more information, visit www.aidro.it

Forward-looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to, the risks and uncertainties set forth in Desktop Metal, Inc.’s filings with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Desktop Metal, Inc. assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Investor Relations

Jay Gentzkow

(781) 730-2110

[email protected]

Media Relations

Lynda McKinney

978-224-1282

[email protected]

KEYWORDS: Massachusetts United States North America

INDUSTRY KEYWORDS: Technology General Automotive Engineering Automotive Manufacturing Aerospace Manufacturing Oil/Gas Automotive Energy Other Technology Software Hardware Other Manufacturing Steel

MEDIA:

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Photo
Photo
Aidro, based in Italy, is a pioneer in the volume production of next-generation hydraulic and fluid power systems through metal additive manufacturing (AM) across a wide range of industries, including oil and gas, industrials, agriculture, aerospace, and mobile and industrial machinery. (Photo: Business Wire)
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Packable, a Leading Technology-Led E-Commerce Marketplace Enablement Platform, Announces Merger With Highland Transcend Partners I Corp.

Packable, a Leading Technology-Led E-Commerce Marketplace Enablement Platform, Announces Merger With Highland Transcend Partners I Corp.

  • Combined company expected to have a pro forma enterprise value of $1.550 billion, with an implied pro forma equity value of $1.909 billion
  • $180 million significantly oversubscribed and upsized PIPE offering and Pre-IPO convertible investment anchored by top tier institutional investors including Fidelity Management & Research Company, Lugard Road Capital and Luxor Capital, Park West Asset Management and Morningside
  • Pharmapacks announces new Holding Company brand name “Packable”
  • Transaction proceeds will be used to continue market leadership and enable opportunities to enhance growth, profitability and geographic and multi-marketplace expansion
  • Company also confirms expansion of world-class leadership team to drive next phase of growth
  • Packable is a leading data-driven platform providing brands with the connections, data insights, and services to enable marketplace sales

NEW YORK–(BUSINESS WIRE)–
Packable, the holding company for Pharmapacks (or “the Company”), a leading technology-led e-commerce marketplace enablement platform, today announced that the Company has entered into a definitive agreement to merge with Highland Transcend Partners I Corp. (“Highland Transcend”) (NYSE:HTPA), a special purpose acquisition company formed to partner with a disruptive company in the commerce, digital media and services, and enterprise software sector. This transaction will help the Company as it enters its next phase of growth following its recent partnership with lead investor Carlyle (NASDAQ:CG) in November 2020. Upon completion of the transaction, Packable is expected to be listed on NYSE under the new ticker symbol “PKBL.”

Founded in 2010 as Pharmapacks, Packable is a leading multi-marketplace e-commerce enablement platform providing category-leading brands with the connections, data insights, and services needed to enable accelerated online marketplace sales. Packable operates in the third-party (“3P”) space across 7 online marketplaces in North America, including Amazon — where Pharmapacks is the largest 3P seller in the US by number of reviews — Walmart, eBay, Target, Kroger, and Google Shopping, among others, and also manages several direct-to-consumer (“DTC”) sites on behalf of brands.

Over the past eleven years, Pharmapacks has established itself as a leader in e-commerce buying, storing, marketing, selling and fulfilling orders, driving strong customer and revenue growth through proprietary software and data, unparalleled expertise and first-class customer service. The Company is well positioned to continue its momentum by deepening relationships with blue-chip companies through organic and inorganic growth, broadening its geographic footprint with new distribution centers, increasing investments in Digitally Native Brands through majority and minority ownership stakes, and strengthening its additional verticals including: Data Science, Marketing & Media Services and “DTC-in-a-box” solutions. To reflect this evolution, the Company will operate under the new holding company name Packable but will continue to operate on marketplaces as Pharmapacks.

“This is an incredibly exciting time for our team, and we are thrilled to partner with Highland Transcend as we plan to enter our next chapter as a public company,” said Packable Co-Founder and CEO Andrew Vagenas. “While we’ve become a market leader in our industry, there is significant runway ahead of us in multiple avenues: from the continued proliferation of online marketplaces and geographic opportunities to our ability to invest in and grow Digitally Native Brands, while providing new data and technology services, as well as marketing options for our brand partners. Given the breadth of opportunity ahead of us, we felt that this was the perfect time to unveil our new Packable branding, which reflects these new avenues for growth.”

“While we believe thatthird-party marketplaces will contribute more than 40% of all ecommerce revenues by 2025, brands find themselves challenged to manage the complexity of executing across these platforms. Packable has a leading software-driven offering enabling brands to grow their businesses across multiple online marketplaces,” said Ian Friedman, CEO of Highland Transcend. “Andrew and the entire team have built an incredibly strong competitive platform; with approximately 75 million customer transactions to-date, we believe that Packable has one of the largest sets of third-party marketplace transaction data, outside of the marketplaces themselves. This data enables Packable’s competitive pricing, merchandising, and marketing decisions and will allow the company to launch a Software-as-a-Service offerings in the future. We’re excited to support the Packable team as they reach new heights, bringing expanded and improved product offerings to customers.”

Going forward, Packable will continue to serve as a launchpad for young brands across its new verticals. The Company has always supported talented entrepreneurs and founders from differing cultural and geographical backgrounds and is excited to accelerate this work as a public company; setting entrepreneurs up for success and growing brands, creating new employment opportunities across industries.

Leadership Team Update

Packable recently confirmed the expansion of its world-class leadership led by Co-Founder and CEO Andrew Vagenas, to drive its next phase of growth. These new additions to the team bring a wide range of additional professional experience from a variety of backgrounds, including from large CPGs, some of which are existing customers.

Full biographies and experience for the team can be found at Packable’s website, Packable.com. Highlights include the addition of:

  • Adam Rodgers, Chief Growth Officer (Reckitt)
  • Ash Mehra, Chief Information Officer (Mondelēz International, P&G)
  • Andreas Schulmeyer, Chief Financial Officer (Walmart, L Brands, Pepsico)
  • Daniel Bennett, Chief Marketing Officer (WPP)
  • Leanna Bautista, Chief People Officer (Pfizer, Pepsico)
  • Chris Pfeiffer, Chief Operating Officer (Cardinal Health, Pepsico)

Additionally, following consummation of the transaction, Ian Friedman and Dan Nova from Highland Transcend are expected to join Packable’s Board of Directors.

Transaction Overview

The combined company will have a pro forma enterprise value of $1.550 billion, with an implied pro forma equity value of $1.909 billion, assuming a $10.00 per share PIPE price and no shareholder redemptions.

As a result of the transaction, Packable expects to add approximately $434 million in cash on its balance sheet to support the Company’s current market leadership and enable opportunities to enhance growth, profitability and geographic and multi-marketplace expansion assuming no shareholder redemptions. This includes a $180 million significantly oversubscribed PIPE and convertible offering that was upsized due to strong investor interest, anchored by Fidelity Management & Research Company; Lugard Road Capital and Luxor Capital; Park West Asset Management and Morningside.

The combined company will have a pro forma ownership of approximately 71% existing shareholders, 19% SPAC and founder shares and 11% PIPE and convert investors. As part of the transaction, existing Packable shareholders will be eligible to receive up to 12 million additional earnout shares, based on Packable’s future stock performance.

The transaction, which has been approved by the boards of directors of both Packable and Highland Transcend, is expected to close in several months, subject to shareholder approvals, and other customary closing conditions.

Advisors

J.P. Morgan Securities LLC is serving as exclusive financial advisor to Packable, with Cooley LLP acting as legal advisor to Packable.

Goldman Sachs & Co. LLC is serving as exclusive financial advisor to Highland Transcend. Davis Polk & Wardwell LLP is serving as legal advisor to Highland Transcend.

J.P. Morgan Securities LLC and BofA Securities are serving as joint private placement agents to Highland Transcend and Packable for the PIPE offering and pre-IPO convertible investment and Goldman Sachs & Co. LLC is also serving as joint placement agent to Highland Transcend for the PIPE offering.

More information, including an investor presentation, is accessible at the investor section of Packable’s website at Packable.com. Additional information about the proposed transaction, including a copy of the merger agreement and investor presentation, will be provided in a Current Report on Form 8-K that will contain an investor presentation to be filed by Highland Transcend with the Securities and Exchange Commission and available at www.sec.gov. In addition, please see “Additional Information About the Proposed Business Combination and Where to Find It” below.

About Packable

Packable is a leading e-commerce company with a proprietary technology platform that empowers brands with a complete and cost-effective logistics, fulfilment, data science, digital marketing and sales solution. Founded in 2010, Pharmapacks has a premier team of e-commerce experts and approximately 1000 employees connecting consumers to their favorite brands on online marketplaces such as Amazon, Walmart, Google, eBay, Target, Kroger and Facebook, becoming one of the largest marketplace sellers in North America. Pharmapacks serves as a “launch pad” for emerging brands by giving a select amount of lesser-known brands access to the Pharmapacks’ e-commerce platform and consumer base. This enables brands to focus on product research and development, while Pharmapacks focuses on building a connection between the consumer and the brand.

About Highland Transcend Partners I Corp.

Highland Transcend Partners I Corp. is a special purpose acquisition company that was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Highland Transcend intends to pursue a target in the disruptive commerce, digital media and services, and enterprise software sectors, with a primary focus on North American and European markets. Highland Transcend’s founders include Ian Friedman (Chief Executive Officer and Director), Bob Davis (Executive Chairman), Paul Maeder (Chief Financial Officer) and Dan Nova (Chief Investment Officer).

Forward-Looking Statements

The information in this press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics, projections of market opportunity and market share, expectations and timing related to commercial product launches, potential benefits of the transaction and expectations related to the terms and timing of the transaction. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Packable’s and Highland Transcend’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Packable and Highland Transcend. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; the inability of the parties to successfully or timely consummate the proposed business combination, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed business combination or that the approval of the shareholders of Packable or Highland Transcend is not obtained; failure to realize the anticipated benefits of the proposed business combination; risks relating to the uncertainty of the projected financial information with respect to Packable; future global, regional or local economic and market conditions; the development, effects and enforcement of laws and regulations; Packable’s ability to manage future growth; the effects of competition on Packable’s future business; the amount of redemption requests made by Highland Transcend’s public shareholders; the ability of Highland Transcend or the combined company to issue equity or equity-linked securities in connection with the proposed business combination or in the future; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; and those factors discussed in Highland Transcend’s final prospectus that forms a part of Highland Transcend’s Registration Statement on Form S-1 (Reg No. 333-250125), filed with the SEC pursuant to Rule 424(b)(4) on December 4, 2020 (the “Prospectus”) and its Annual Report on Form 10-K for the fiscal year ended December 31, 2020 under the heading “Risk Factors,” and other documents of Highland Transcend filed, or to be filed, with the Securities and Exchange Commission (“SEC”). If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither Highland Transcend nor Packable presently know or that Highland Transcend nor Packable currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Highland Transcend’s or Packable’s expectations, plans or forecasts of future events and views as of the date of this press release. Highland Transcend and Packable anticipate that subsequent events and developments will cause Highland Transcend’s or Packable’s assessments to change. However, while Highland Transcend and Packable may elect to update these forward-looking statements at some point in the future, Highland Transcend and Packable specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Highland Transcend’s or Packable’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Additional Information About the Proposed Business Combination and Where To Find It

The proposed business combination will be submitted to shareholders of Highland Transcend for their consideration. Highland Transcend intends to file a registration statement on Form S-4 (the “Registration Statement”) with the SEC which will include preliminary and definitive proxy statements to be distributed to Highland Transcend’s shareholders in connection with Highland Transcend’s solicitation for proxies for the vote by Highland Transcend’s shareholders in connection with the proposed business combination and other matters as described in the Registration Statement, as well as the prospectus relating to the offer of the securities to be issued to Packable’s shareholders in connection with the completion of the proposed business combination. After the Registration Statement has been filed and declared effective, Highland Transcend will mail a definitive proxy statement and other relevant documents to its shareholders as of the record date established for voting on the proposed business combination. Highland Transcend ‘s shareholders and other interested persons are advised to read, once available, the preliminary proxy statement / prospectus and any amendments thereto and, once available, the definitive proxy statement / prospectus, in connection with Highland Transcend’s solicitation of proxies for its special meeting of shareholders to be held to approve, among other things, the proposed business combination, because these documents will contain important information about Highland Transcend, Packable and the proposed business combination. Shareholders may also obtain a copy of the definitive proxy statement, once available, as well as other documents filed with the SEC regarding the proposed business combination and other documents filed with the SEC by Highland Transcend, without charge, at the SEC’s website located at www.sec.gov or by directing a request to 660 Madison Ave Suite 1600, New York, NY 10065.

INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

Participants in the Solicitation

Highland Transcend, Packable and certain of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitations of proxies from Highland Transcend’s shareholders in connection with the proposed business combination. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of Highland Transcend’s shareholders in connection with the proposed business combination will be set forth in Highland Transcend’s proxy statement / prospectus when it is filed with the SEC. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests will be included in the proxy statement / prospectus when they become available. Shareholders, potential investors and other interested persons should read the proxy statement / prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.

No Offer or Solicitation

This release relates to the potential financing of a portion of the Proposed Business Combination through a private placement of common stock of Highland Transcend to be issued in connection with the Proposed Business Combination. This release shall not constitute a “solicitation” as defined in Section 14 of the Securities Exchange Act of 1934, as amended.

This release does not constitute an offer, or a solicitation of an offer, to buy or sell any securities, investment or other specific product, or a solicitation of any vote or approval, nor shall there be any sale of securities, investment or other specific product in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offering of securities will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), and will be offered as a private placement to a limited number of either (a) “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) or (b) institutional “accredited investors” as defined in Rule 501(a)(1), (2), (3) or (7)under the Act. Accordingly, the Securities must continue to be held unless a subsequent disposition is exempt from the registration requirements of the Securities Act. Investors should consult with their counsel as to the applicable requirements for a purchaser to avail itself of any exemption under the Securities Act. The transfer of the Securities may also be subject to conditions set forth in an agreement under which they are to be issued. Investors should be aware that they might be required to bear the final risk of their investment for an indefinite period of time. Neither the Company nor Highland Transcend is making an offer of the Securities in any state where the offer is not permitted.

For inquiries regarding Packable:

Media

Emily Claffey/Suzanne Byowitz

Sard Verbinnen & Co

[email protected]

Investors

[email protected]

For inquiries regarding Highland Transcend Partners:

[email protected]

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Software Marketing Communications Technology Online Retail Logistics/Supply Chain Management Transport Retail

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Invacare Corporation Provides Business Update and Revised Financial Guidance

Invacare Corporation Provides Business Update and Revised Financial Guidance

ELYRIA, Ohio–(BUSINESS WIRE)–
Invacare Corporation (NYSE:IVC) (“Invacare” or the “company”) will participate today in the 19th Annual Morgan Stanley Global Healthcare Conference with management available for 1×1 meetings with interested investors.

Third Quarter 2021 Update

Providing an update on the current business environment, Matt Monaghan, chairman, president and chief executive officer stated, “We are pleased to see increased customer activity as the world adapts to varying degrees of recovery from COVID-19. As we work to meet demand, the challenges related to labor, material and freight, which are affecting both our business and a wide variety of industries, are moderating our near-term outlook for revenue growth. We think it is prudent to update our investors on the measures we are taking to address these headwinds and on our sustained positive outlook for our business.

When we reconfirmed full-year guidance at the end of 2Q21, we had assumed an improvement in external factors which have not materialized as expected. These included moderation on cost and availability of freight and labor, which would have enabled us to capitalize on reducing backlog and generating higher revenue growth for the third quarter. In the short-term, we expect to maintain elevated levels of inventory and incur higher conversion costs. Management is working with customers on price increases as appropriate to defray significantly higher input costs; however, the benefit of those actions will not be realized until 4Q21.”

As a result of these near-term challenges, the company anticipates third quarter 2021 results in the following ranges:

Third Quarter 2021 Guidance

  • Constant currency net sales(a) of 0% to growth of 4% year-over-year.
  • Adjusted EBITDA(b) in the range of $6 to $9 million; and,
  • Free cash flow(c) usage of $4 to $7 million.

Fourth Quarter 2021 Update

Monaghan continued, “It is difficult to determine exactly when the pandemic-induced global supply chain turmoil will stabilize. However, we expect 4Q21 to improve sequentially from the third quarter, albeit more gradually than initially anticipated. Increases in our workforce at key locations to improve throughput, as well as an increase in the number of freight carriers to expedite order delivery, should reduce our currently elevated backlog, driving revenue growth and adjusted EBITDA improvement. We continue to take actions to repurpose our resources as necessary to focus on products with high demand. We expect cash flow will also improve materially compared to the third quarter, driven by improved profitability and reduced working capital. However, we anticipate inventory will remain elevated to mitigate continued supply chain challenges expected through year-end. During this period, we also expect higher receivables from increased sales.”

As a result of our updated outlook and assumptions in the medium-term, the company is revising its full year 2021 guidance as follows:

2021 Full Year Guidance

  • Constant currency net sales of -1% to growth of 2%, from growth of 4% to 7%
  • Adjusted EBITDA in the range of $30 to $37 million, from $45 million; and,
  • Free cash flow usage of $10 to $20 million, from free cash flow generation of $5 million.

Free cash flow usage will increase due to lower profitability in the range of $8 to $15 million while only realizing a portion of the full year benefit of mitigation actions and higher working capital requirements from increased inventory and accounts receivable of approximately $10 million more than originally anticipated. The company believes this increased investment will convert to cash over the course of 2022.

Business Outlook

Monaghan concluded, “The next year continues to look positive in terms of growth potential, driven in part by the continued expansion of new products in all our segments. Our markets continue to demonstrate their resilience and we remain focused on helping our customers expand back beyond pre-pandemic levels of demand. These favorable trends, as well as process and systems improvements, will support sustained and improved profitability and free cash flow generation and we will continue to optimize our business as required to operate effectively in the present landscape. Our associates have done a remarkable job facing the sustained challenges of the pandemic, and we will continue to work tirelessly to position Invacare for long-term success.”

In advance of today’s conference, an updated IR presentation will be posted on the Company’s website at www.invacare.com/investorrelations.

About Invacare Corporation

Invacare Corporation (NYSE:IVC) (“Invacare” or the “company”) is a leading manufacturer and distributor in its markets for medical equipment used in non-acute care settings. At its core, the company designs, manufactures and distributes medical devices that help people to move, breathe, rest, and perform essential hygiene. The company provides clinically complex medical device solutions for congenital (e.g., cerebral palsy, muscular dystrophy, spina bifida), acquired (e.g., stroke, spinal cord injury, traumatic brain injury, post-acute recovery, pressure ulcers) and degenerative (e.g., ALS, multiple sclerosis, chronic obstructive pulmonary disease (COPD), elderly, bariatric) ailments. The company’s products are important parts of care for people with a wide range of challenges, from those who are active and involved in work or school each day and may need additional mobility or respiratory support, to those who are cared for in residential care settings, at home and in rehabilitation centers. The company sells its products principally to home medical equipment providers with retail and e-commerce channels, residential care operators, distributors and government health services in North America, Europe, and Asia/Pacific. For more information about the company and its products, visit Invacare’s website at www.invacare.com.

This press release contains forward-looking statements within the meaning of the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those that describe future outcomes or expectations that are usually identified by words such as “will,” “should,” “could,” “plan,” “intend,” “expect,” “continue,” “forecast,” “believe,” and “anticipate” and include, for example, statements related to the expected effects on the company’s business of the COVID-19 pandemic; sales and free cash flow trends; the impact of contingency plans and cost containment actions; the company’s liquidity and working capital expectations; the company’s future financial results; and similar statements. Actual results may differ materially as a result of various risks and uncertainties, including the duration and scope of the COVID-19 pandemic, the pace of resumption of access to healthcare, including clinics and elective care, and loosening of public health restrictions, or any reimposed restrictions on access to healthcare or tightening of public health restrictions and impact on the demand for the company’s products; the availability and cost to the company of needed raw materials and components from its suppliers; actions that governments, businesses and individuals take in response to the pandemic, including mandatory business closures and restrictions on onsite commercial interactions; the impact of the pandemic and actions taken in response to the pandemic on global and regional economies and economic activity; the pace of recovery when the COVID-19 pandemic subsides; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the effects of steps the company takes to reduce operating costs; the inability of the company to sustain profitable sales growth, achieve anticipated improvements in segment operating performance, convert high inventory levels to cash or reduce its costs; lack of market acceptance of the company’s new product innovations, revised product pricing and/or product surcharges; circumstances or developments that may make the company unable to implement or realize the anticipated benefits, or that may increase the costs, of its current and planned business initiatives, in particular the key elements of its enhanced transformation and growth plan such as its new product introductions, commercialization plans, additional investments in sales force and demonstration equipment, product distribution strategy in Europe, supply chain actions and global information technology outsourcing and ERP implementation activities; possible adverse effects on the company’s liquidity, including the company’s ability to address future debt maturities; adverse changes in government and third-party payor reimbursement levels and practices in the U.S.; adverse impacts of new tariffs or increases in commodity prices or freight and logistics costs; regulatory proceedings or the company’s failure to comply with regulatory requirements or receive regulatory clearance or approval for the company’s products or operations; adverse effects of regulatory or governmental inspections of the company’s facilities at any time and governmental investigations or enforcement actions; exchange rate fluctuations; and those other risks and uncertainties expressed in the cautionary statements and risk factors in the company’s annual report on Form 10-K, quarterly reports on Form 10-Q and other filings with the Securities and Exchange Commission. The company may not be able to predict and may have little or no control over many factors or events that may influence its future results and, except as required by law, shall have no obligation to update any forward-looking statements.

Definitions of Non-GAAP Financial Measures

(a) “Constant currency net sales” is a non-GAAP financial measure, which is defined as net sales excluding the impact of foreign currency translation and further adjusted to exclude Dynamic Controls, which was sold in March 2020 and not deemed a discontinued operation for financial reporting purposes. The current year’s functional constant currency net sales are translated using the prior year’s foreign exchange rates. These amounts are then compared to the prior year’s sales to calculate the constant currency net sales change. The company believes that this financial measure provides meaningful information for evaluating the core operating performance of the company.

(b) “Adjusted EBITDA” is a non-GAAP financial measure, which is defined as earnings before interest, taxes, depreciation and amortization and calculated as net loss plus: income taxes, interest expense-net, loss on debt extinguishment including debt finance charges and fees, net gain on sale of business, and depreciation and amortization, as further adjusted to exclude charges related to restructuring activities and stock-based compensation expense. It should be noted that the company’s definition of Adjusted EBITDA may not be comparable to similar measures disclosed by other companies because not all companies and financial analysts calculate Adjusted EBITDA in the same manner. The company believes that this financial measure provides meaningful information which is used by financial analysts and others in the company’s industry to evaluate the performance of the company.

(c) “Free cash flow” is a non-GAAP financial measure, which is defined as net cash provided (used) by operating activities less purchases of property and equipment plus proceeds from sales of property and equipment. The company believes that this financial measure provides meaningful information for evaluating the overall financial performance of the company and its ability to repay debt or make future investments.

The company does not provide a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures, as changes in the items excluded from the GAAP financial measures are uncertain, and may be non-recurring, unusual and/or dependent on future events outside the company’s control. Accordingly, the company is unable to estimate these items without unreasonable effort.

Lois Lee

[email protected]

440-329-6435

KEYWORDS: United States North America Ohio

INDUSTRY KEYWORDS: Medical Supplies Medical Devices Health Manufacturing General Health Other Manufacturing

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Jack in the Box Selects PAR Technology’s Punchh to Provide Omnichannel Loyalty Solution

Jack in the Box Selects PAR Technology’s Punchh to Provide Omnichannel Loyalty Solution

Popular quick-service hamburger chain selects leading customer loyalty and engagement platform to enhance digital experience with new programs

NEW HARTFORD, N.Y.–(BUSINESS WIRE)–ParTech, Inc. (PAR), a global restaurant technology company and provider of a unified commerce cloud platform for enterprise restaurants, today announced that Jack in the Box, Inc. has entered into the final implementation phase of PAR’s leading customer loyalty, offers and engagement solution, Punchh, to introduce a new online digital loyalty program for its 2,219 restaurants.

Through the partnership, Punchh, a PAR company, is responsible for updating Jack in the Box’s online ordering interface and adding a loyalty program to provide an upgraded app and digital experience for guests. Punchh will also implement an add-on coupons and promotions module that enables Jack in the Box to send targeted offers to guests outside of its loyalty program, giving the brand’s marketing team the opportunity to supplement the loyalty program with a more robust, holistic promotion layer.

“We are thrilled to have teamed up with Punchh to advance our digital capabilities,” said Ryan Ostrom, Executive Vice President and Chief Marketing Officer for Jack in the Box. “Just like our brand, Punchh lives outside of the box with its streamlined, cutting-edge technology. Jack in the Box is known for spearheading conveniences for our guests, so it’s a perfect fit for us to reach more fans across the country with our crave-worthy offers through Punchh’s loyalty solution.”

Jack in the Box joins Punchh and PAR’s rapidly growing roster of global enterprise brands. Over the last eighteen months alone, Punchh has gained 71 new customers, including Taco Bell, CKE, Applebee’s, IHOP, and more. They also support nearly 40 of the top 100 restaurant brands in the United States—more than the rest of the loyalty and engagement market combined.

“Having a frictionless loyalty program is a must for food-service operators to thrive now and into the future,” said Savneet Singh, CEO of PAR Technology Corporation. “We’re proud to partner with Jack in the Box to ensure their brand has the proper solution to enhance their guest experience. With Punchh’s robust loyalty platform, Jack in the Box has been able to implement a seamless and integrated online ordering solution and real-time loyalty engagement strategies that will support future advancements of their loyalty program. It’s an exciting time for the industry, and we are proud to be facilitating a leading omnichannel solution for one of the top brands in the marketplace.”

“We are delighted to expand our relationship with Jack in the Box through their selection of Punchh and are honored to be chosen to support the company’s initiative to improve their customers’ experience,” commented Shyam Rao, Punchh co-founder & CEO. “We look forward to a long-term relationship with Jack in the Box by helping the company leverage advancements in restaurant technology to create a seamless experience for its customers. Jack in the Box has consistently demonstrated a strong commitment to improving its business through the use of innovative technology and we are fortunate for the opportunity to partner with them.”

To learn more about the Punchh Loyalty Offers and Engagement Platform, visit partech.com.

About Jack in the Box Inc.

Jack in the Box Inc. (NASDAQ: JACK), based in San Diego, is a restaurant company that operates and franchises Jack in the Box® restaurants, one of the nation’s largest hamburger chains, with more than 2,200 restaurants in 21 states and Guam. For more information on Jack in the Box, including franchising opportunities, visit www.jackinthebox.com.

ABOUT PAR TECHNOLOGY

For more than 40 years, PAR’s (NYSE Symbol: PAR) cutting-edge products and services have helped bold and passionate restaurant brands build lasting guest relationships. We are the partner enterprise restaurants rely on when they need to serve amazing moments from open to close, during the most hectic rush hours, and when the world forces them to adapt and overcome. More than 100,000 restaurants in more than 110 countries use PAR’s restaurant hardware, software, drive-thru, and back-office solutions. With the recent acquisition of Punchh Inc., leading SaaS based customer loyalty and engagement solutions provider, PAR has become a Unified Commerce Cloud Platform for Enterprise Restaurants. To learn more, visit www.partech.com or connect with us on LinkedIn, Twitter, Facebook, and Instagram.

Christopher R. Byrnes (315) 743-8376

[email protected], www.partech.com

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Data Management Technology Marketing Food/Beverage Communications Retail Software Internet Mobile/Wireless Hardware Restaurant/Bar

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Independent Proxy Advisory Firm ISS Recommends LSB Industries, Inc. Stockholders Vote “FOR” Exchange Transaction

Independent Proxy Advisory Firm ISS Recommends LSB Industries, Inc. Stockholders Vote “FOR” Exchange Transaction

LSB Urges Stockholders to Vote “FOR” ALL Transaction-Related Proposals

Stockholders Needing Assistance in Voting Should Contact

LSB’s Proxy Solicitor, Okapi Partners LLC, at (877) 869-0171 or [email protected]

OKLAHOMA CITY–(BUSINESS WIRE)–
LSB Industries, Inc. (NYSE:LXU) (“LSB” or the “Company”) today announced that independent proxy advisory firm, Institutional Shareholder Services (“ISS”), has recommended that LSB shareholders vote “FOR” all of the proposals in the Definitive Proxy Statement filed by the Company on August 26, 2021 relating to the Company’s agreement (the “Exchange Agreement”) with LSB Funding LLC, an affiliate of Eldridge Industries, LLC (“Eldridge”), to exchange the shares of LSB Series E-1 and Series F-1 Redeemable Preferred Stock held by Eldridge for shares of LSB common stock.

In its September 7, 2021 report, ISS emphasized the merits of the Exchange Agreement by stating, “Although the preferred share conversions into common stock would have a dilutive impact on existing shareholders, the apparent benefits of this proposal outweigh such concerns. Specifically, the conversion price of the preferred stock was set at a premium, approval of this proposal could improve the company’ ability to raise future capital, unaffiliated shareholders will receive a special dividend as part of the proposed share conversions, and the market reaction has been positive indicating shareholders may view the proposed conversions, favorably. As such, support for this proposal is warranted.”

Commenting on the ISS recommendation, Mark Behrman, LSB’s President and CEO, stated, “We view the favorable disposition of ISS towards our proposed exchange transaction as further validation of our belief that this transaction will be beneficial to LSB’s shareholders in that it will lower our cost of capital and provide us with greater financial flexibility to pursue growth initiatives. We strongly urge LSB stockholders to follow the ISS recommendation and vote `FOR’ the transaction today.”

Transaction Highlights:

  • Eliminates the current financial impact and repayment of the accrued compounding preferred stock and future accruing dividends at 14.5% (increasing to 16.0% in April 2023) unburdening the Company and unlocking shareholder value.
  • The Special Committee, Board of Directors and LSB management believe this could lead to a rating upgrade potentially allowing the Company to refinance its senior secured notes at a lower interest rate and on improved terms, which would reduce its cash interest expense and overall cost of capital.
  • Improves the Company’s financial flexibility allowing it to pursue organic growth initiatives, including in green ammonia and clean energy and accretive M&A opportunities.
  • Preserves the Company’s significant tax attributes, including approximately $620 million of federal net operating losses, thereby protecting potentially significant future cash savings and stockholder value.

LSB will hold a Special Meeting of LSB stockholders that will be conducted virtually via live webcast at 8:30 am Central Daylight Time on September 22, 2021, which can be accessed by visiting www.proxydocs.com/LXU. The Company’s proxy statement is available at https://investors.lsbindustries.com/financial-information/sec-filings and www.sec.gov. Stockholders of record at the close of business on August 2, 2021 will be entitled to vote their shares at the Special Meeting. Stockholders who have questions, or need assistance in voting their shares should contact LSB’s proxy solicitor, Okapi Partners LLC, at (877) 869-0171 or via email at [email protected].

About LSB Industries, Inc.

LSB Industries, Inc., headquartered in Oklahoma City, Oklahoma, manufactures and sells chemical products for the agricultural, mining, and industrial markets. The Company owns and operates facilities in Cherokee, Alabama, El Dorado, Arkansas and Pryor, Oklahoma, and operates a facility for a global chemical company in Baytown, Texas. LSB’s products are sold through distributors and directly to end customers primarily throughout the United States. Additional information about the Company can be found on its website at www.lsbindustries.com.

About Eldridge Industries, LLC

Eldridge Industries, LLC invests in businesses across the Insurance, Asset Management, Technology, Mobility, Sports & Gaming, Media & Music, Real Estate, and Consumer landscapes. The firm seeks to build and grow businesses led by proven management teams that have demonstrated leadership and experience to scale an enterprise. Eldridge Industries, LLC is headquartered in Greenwich, Connecticut, with additional offices in Beverly Hills, New York, and London. Additional information about Eldridge Industries, LLC can be found on its website at www.eldridge.com.

Forward-Looking Statements

Statements in this release that are not historical are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance including the effects of the COVID-19 pandemic and anticipated performance based on our growth and other strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or actual achievements to differ materially from the results, level of activity, performance or anticipated achievements expressed or implied by the forward-looking statements. Significant risks and uncertainties may relate to, but are not limited to, our ability to consummate the exchange transaction on the terms described herein and in the definitive proxy statement referred to herein or at all, business and market disruptions related to the COVID-19 pandemic, market conditions and price volatility for our products and feedstocks, as well as global and regional economic downturns, including as a result of the COVID-19 pandemic, that adversely affect the demand for our end-use products; disruptions in production at our manufacturing facilities; and other financial, economic, competitive, environmental, political, legal and regulatory factors. These and other risk factors are discussed in the Company’s filings with the Securities and Exchange Commission (“SEC”), including its Annual Report on Form 10-K for the year ended December 31, 2020.

Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for our management to predict all risks and uncertainties, nor can management assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance or achievements. Neither we nor any other person assumes responsibility for the accuracy or completeness of any of these forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Unless otherwise required by applicable laws, we undertake no obligation to update or revise any forward-looking statements, whether because of new information or future developments.

No Offer or Solicitation

This communication is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended, or an exemption from the registration requirements thereof.

Additional Information about the Exchange Transaction and Where to Find It

In connection with the proposed transaction, LSB has filed with the SEC a proxy statement for the special meeting of LSB stockholders and may also file other relevant documents with the SEC regarding the proposed transaction. This communication is not a substitute for the proxy statement or any other document that LSB may file with the SEC. The definitive proxy statement was mailed to LSB stockholders commencing on August 26, 2021. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT LSB AND THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain free copies of the proxy statement and other documents containing important information about LSB and the proposed transaction, once such documents are filed with the SEC, through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by LSB may be obtained free of charge on LSB’s website at www.lsbindustries.com or by contacting Michael Foster, General Counsel and Secretary by email at [email protected] or by phone at 405-510-3596.

Participants in the Solicitation

LSB and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information about the directors and executive officers of LSB, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in LSB’s proxy statement for its 2021 Annual Meeting of Stockholders, which was filed with the SEC on April 19, 2021 and its proxy statement for the special meeting of stockholders, which was filed with the SEC on August 26, 2021, and LSB’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on February 25, 2021. Other information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, is contained in the proxy statement and other relevant materials filed with the SEC regarding the proposed transaction. Investors should read the proxy statement carefully before making any voting or investment decisions. You may obtain free copies of these documents from LSB using the sources indicated above.

Company Contact:

Cheryl Maguire, Executive Vice President & CFO

(405) 510-3524

Fred Buonocore, CFA, Vice President of Investor Relations

(203) 947-3019

[email protected]

Shareholder Contact:

Okapi Partners LLC

(877) 869-0171

[email protected]

KEYWORDS: Oklahoma United States North America

INDUSTRY KEYWORDS: Chemicals/Plastics Manufacturing

MEDIA: