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BrandywineGLOBAL – Global Income Opportunities Fund Inc. Announces Financial Position as of July 31, 2021

BrandywineGLOBAL – Global Income Opportunities Fund Inc. Announces Financial Position as of July 31, 2021

NEW YORK–(BUSINESS WIRE)–
BrandywineGLOBAL – Global Income Opportunities Fund Inc. (NYSE: BWG) today announced the financial position of the Fund as of July 31, 2021.

Current Q Previous Q Prior Yr Q
July 31, 2021 April 30, 2021 July 31, 2020
Total Assets (a)

$

352,342,872

 

$

356,132,541

 

$

452,479,772

 

Total Net Assets (a)

$

230,136,190

 

$

231,267,193

 

$

299,038,953

 

NAV Per Share of Common Stock (b)

$

13.71

 

$

13.77

 

$

14.25

 

Market Price Per Share

$

12.52

 

$

12.23

 

$

12.53

 

Premium / (Discount)

 

(8.68

)%

 

(11.18

)%

 

(12.07

)%

Outstanding Shares

 

16,791,836

 

 

16,791,836

 

 

20,989,795

 

 
Total Net Investment Income (c) (d)

$

3,720,881

 

$

3,487,492

 

$

3,940,376

 

Total Net Realized/Unrealized Gain/(Loss) (c)

$

(274,127

)

$

(7,668,250

)

$

31,661,907

 

Preferred Dividends Paid from Net Investment Income (c)

$

(547,716

)

$

(529,855

)

$

(546,464

)

Net Increase (Decrease) in Net Assets From Operations (c)

$

2,899,038

 

$

(4,710,613

)

$

35,055,819

 

 
Earnings per Common Share Outstanding
Total Net Investment Income (c)(d)

$

0.22

 

$

0.21

 

$

0.19

 

Total Net Realized/Unrealized Gain/(Loss) (c)

$

(0.02

)

$

(0.46

)

$

1.51

 

Preferred Dividends Paid from Net Investment Income (c)

$

(0.03

)

$

(0.03

)

$

(0.03

)

Net Increase (Decrease) in Net Assets From Operations (c)

$

0.17

 

$

(0.28

)

$

1.67

 

 
Undistributed/(Overdistributed) Net Investment Income (e)

$

6,295,924

 

$

7,152,800

 

$

361,997

 

Undistributed/(Overdistributed) Net Investment Income
Per Share (e)

$

0.37

 

$

0.43

 

$

0.02

 

 
Loan Outstanding (e)

$

60,000,000

 

$

60,000,000

 

$

90,000,000

 

Mandatory Redeemable Preferred Stock (e)

$

60,000,000

 

$

60,000,000

 

$

60,000,000

 

Footnotes:

(a) The difference between total assets and total net assets is due primarily to its outstanding mandatory redeemable preferred stock (“MRPS”) and use of borrowings; total net assets do not include either borrowings or the liquidation value of MRPS.

(b) NAVs are calculated as of the close of business on the last business day in the periods indicated above.

(c) For the quarter indicated.

(d) Excludes distributions paid to preferred stockholders from net investment income.

(e) As of the date indicated above.

This financial data is unaudited.

The Fund files its semi-annual and annual reports with the Securities and Exchange Commission (“SEC”), as well as its complete schedule of portfolio holdings for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. These reports are available on the SEC’s website at www.sec.gov. To obtain information on Forms N-PORT or a semi-annual or annual report from the Fund, shareholders can call 1-888-777-0102.

BrandywineGLOBAL – Global Income Opportunities Fund Inc., a non-diversified, closed-end management investment company, is managed by Legg Mason Partners Fund Advisor, LLC, a wholly-owned subsidiary of Franklin Resources, and is sub-advised by Brandywine Global Investment Management, LLC, an affiliate of the investment manager.

For more information about the Fund, please call 1-888-777-0102 or consult the Fund’s web site at www.lmcef.com. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request.

Data and commentary provided in this press release are for informational purposes only. Franklin Resources and its affiliates do not engage in selling shares of the Fund.

Category: Financials

Source: Franklin Resources, Inc.

Source: Legg Mason Closed End Funds

Media Contact: Fund Investor Services 1-888-777-0102

 

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Banking Professional Services Finance

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Communications Systems, Inc. Announces Updated $32.0 Million Equity Financing To Close Concurrently With CSI–Pineapple Merger

Communications Systems, Inc. Announces Updated $32.0 Million Equity Financing To Close Concurrently With CSI–Pineapple Merger

MINNETONKA, Minn.–(BUSINESS WIRE)–
Communications Systems, Inc. (Nasdaq: JCS) (“CSI” or the “Company”) announced today that it has entered into an amended and restated securities purchase agreement with a group of institutional investors (the “PIPE Investors”) to make a $32.0 million private placement investment in CSI in connection with the closing of the previously announced merger between CSI and Pineapple Energy, LLC (“Pineapple”). Proceeds of this investment will be used primarily to fund Pineapple strategic initiatives following consummation of the merger. The closing of the PIPE financing is subject to approval of CSI’s shareholders. This amended and restated securities purchase agreement replaces a $25.0 million original securities purchase agreement dated June 28, 2021.

CSI and one of the original PIPE Investors, CrowdOut Capital LLC (“CrowdOut”), had agreed that CrowdOut would purchase $9.0 million of the original $25.0 million of Series A Convertible Preferred Stock, and also entered into a non-binding letter of intent for a $20.0 million term loan (the “Debt Transaction”) to be provided by CrowdOut to the Company to assist the combined CSI-Pineapple company fund the acquisitions of Hawaii Energy Connection (“HEC”) and E- GEAR, which are expected to close concurrently with the CSI-Pineapple merger. CrowdOut’s obligation to consummate the transactions in the PIPE Offering was expressly conditioned on CrowdOut closing and funding the Debt Transaction pursuant to fully executed credit documents that were mutually acceptable to CSI and CrowdOut. On September 14, 2021, CSI and CrowdOut terminated discussions for CrowdOut to provide debt financing and participate in the PIPE offering. The amended and restated securities purchase agreement replaces CrowdOut with new investors and has increased to $32.0 million. The Company is also exploring new debt financing for the combined company.

Under the terms of the amended and restated securities purchase agreement, the PIPE Investors have agreed to purchase $32.0 million in newly authorized CSI Series A Convertible Preferred Stock convertible at a price of $3.40 per share into CSI common stock, with five-year warrants to purchase an additional $32.0 million of common shares at that same price (the “PIPE Offering”). The PIPE Offering is expected to close immediately following the consummation of the CSI-Pineapple merger, thus PIPE Investors will invest in the post-merger company. Therefore, the PIPE Investors will not be entitled to receive any cash dividends paid prior to closing and will not receive the Contingent Value Rights (“CVRs”) to be issued to pre- merger CSI shareholders in the CSI-Pineapple merger.

The Series A Convertible Preferred Stock will have no liquidation or dividend preference over CSI common stock and no voting rights until after converted into CSI common stock. Assuming conversion of the Series A Convertible Preferred Stock, the PIPE Investors would own approximately 9.41 million shares of the Company’s outstanding common stock immediately following the closing of the PIPE Offering, representing approximately 27% of CSI’s outstanding Common Stock after giving effect to the issuance of shares in the merger, and approximately 18.82 million shares assuming exercise of all the warrants for cash, representing approximately 43% of CSI’s outstanding Common Stock after giving effect to the issuance of shares in the merger and exercise of the warrants.

The Series A Convertible Preferred Stock and warrants will have anti-dilution provisions that would increase the number of shares issuable upon conversion or exercise, and lower the conversion or exercise price, if CSI issues equity securities at a price less than the conversion or exercise price at the time of such issuance. The securities purchase agreement also prohibits the combined company from conducting a new equity offering within 45 days of the closing, gives the PIPE Investors in the aggregate the right to purchase up to 25% of the equity securities in future CSI-Pineapple offerings within one year of closing of the securities purchase agreement and requires 30-day lock-up agreements of CSI common stock by certain CSI-Pineapple officers, directors and major shareholders following the closing. In connection with the transaction, CSI has agreed to file a registration statement on behalf of the PIPE Investors allowing them to resell the common stock into which the Series A Convertible Preferred Stock is convertible and the warrants are exercisable immediately after issuance. Closing is subject to the effectiveness of this registration statement, consummation of the CSI-Pineapple merger and other customary closing conditions.

The amended and restated securities purchase agreement provides that the agreement may be terminated by any PIPE Investor with respect to that PIPE Investor’s obligation if the CSI-Pineapple merger transaction has not closed by March 31, 2022.

On September 13, 2021, CSI issued a press release announcing that its board of directors had declared a special dividend of $3.50 per share payable on October 15, 2021, to CSI shareholders of record at the close of business on September 30, 2021. CSI has been notified by Nasdaq that the ex-dividend date with respect to the special dividend will be October 18, 2021, the first business day after the payment date. Any shareholders with questions should contact their broker-dealer, or investment adviser or Nasdaq.

Comments About the Pineapple Merger Transaction

CSI Chairman and Interim Chief Executive Officer Roger H.D. Lacey commented, “On March 2, 2021, we announced the Pineapple merger transaction as a means by which the CSI shareholders could retain the opportunity for long-term share appreciation in a transformed company, with a new business focused on the Pineapple Energy, Hawaii Energy Corporation and E-Gear residential solar businesses. Over the last several months, even while completing the sale of the Electronics & Software Segment to Lantronix, and declaring the $34.0 million dividend, we have been steadily working on the Pineapple merger transaction and positioning the transformed company for future success.”

Mark Fandrich, the Company’s Chief Financial Officer added, “Concurrently with all of these activities, CSI and Pineapple have been working with their respective legal, accounting and tax advisors to develop the information required to be included in the Form S-4 Registration Statement CSI will be filing with the SEC to solicit CSI shareholder approval for the CSI-Pineapple merger transaction, the PIPE financing and other related matters. Both parties are devoting significant efforts to resolve these matters.”

We appreciate the patience of the CSI shareholders during this time as we diligently pursue the Pineapple merger transaction. We look forward to providing additional updates to you on the Pineapple merger transaction as it becomes available,” concluded Mr. Lacey.

About Communications Systems, Inc.

Communications Systems, Inc. (Nasdaq: JCS), which has operated as an IoT intelligent edge products and services company, has announced its planned merger transaction with Pineapple Energy. After the Pineapple merger transaction, the Company will be positioned to grow organically and to acquire and grow leading local and regional solar, storage, and energy services companies nationwide. The vision is to power the energy transition through grass-roots growth of solar electricity paired with battery storage on consumers’ homes.

Website Information

CSI routinely posts important information for investors on its website, www.commsystems.com, in the “Investor Resources” section. CSI uses this website as a means of disclosing material information in compliance with its disclosure obligations under SEC Regulation FD. Accordingly, investors should monitor the “Investor Resources” section of CSI’s website, in addition to following its press releases, SEC filings, future public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, CSI’s website is not incorporated by reference into, and is not a part of, this document.

Forward Looking Statements

This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth and future acquisitions. These statements are based on Communications Systems’ current expectations or beliefs and are subject to uncertainty and changes in circumstances. There can be no guarantee that the proposed transactions described in this document will be completed, or that they will be completed as currently proposed, or at any particular time. Actual results may vary materially from those expressed or implied by the statements here due to changes in economic, business, competitive or regulatory factors, and other risks and uncertainties affecting the operation of Communications Systems’ business. These risks, uncertainties and contingencies are presented in the Company’s Annual Report on Form 10-K and, from time to time, in the Company’s other filings with the Securities and Exchange Commission. The information set forth herein should be read considering such risks. Further, investors should keep in mind that the Company’s financial results in any period may not be indicative of future results. Communications Systems is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether because of new information, future events, changes in assumptions or otherwise. In addition to these factors, there are a number of additional factors, including:

  • conditions to the closing of CSI-Pineapple merger transaction may not be satisfied;
  • the occurrence of any other risks to consummation of the CSI-Pineapple merger transaction, including the risk that the CSI-Pineapple merger transaction will not be consummated within the expected time period or any event, change or other circumstances that could give rise to the termination of the CSI-Pineapple merger transaction;
  • the CSI-Pineapple merger transaction has involved greater than expected costs and delays and may in the future involve unexpected costs, liabilities or delays;
  • the Company’s ability to successfully sell its other legacy operating business assets and its real estate assets at a value close to their current fair market value and distribute these proceeds to its existing shareholder base;
  • up to $7.0 million of the purchase price for the sale of Electronics & Software Segment was structured in the form of an earnout based on revenues generated by Lantronix in the 360 days following closing, and there is no guaranty that sufficient revenues will be recognized for the earnout to be paid to the Company;
  • the fact that the continuing CSI-Pineapple entity will be entitled to retain ten percent of the net proceeds of CSI legacy assets that are sold pursuant to agreements entered into after the effective date of the CSI-Pineapple merger transaction;
  • risks that the CSI-Pineapple merger transaction will disrupt current CSI plans and operations or that the business or stock price of CSI may suffer as a result of uncertainty surrounding the CSI-Pineapple merger transaction;
  • the outcome of any legal proceedings related to the CSI-Pineapple merger transaction; and
  • the fact that CSI cannot yet determine the exact amount and timing of any additional pre-CSI-Pineapple merger cash dividends or the value of the Contingent Value Rights that CSI intends to distribute to its shareholders immediately prior to the closing of the CSI-Pineapple merger transaction.

 

For Communications Systems, Inc.

Roger H. D. Lacey

Executive Chair and Interim Chief Executive Officer

+1 (952) 996-1674

Mark D. Fandrich

Chief Financial Officer

+1 (952) 582-6416

[email protected]

The Equity Group Inc.

Lena Cati

Vice President

+1 (212) 836-9611

[email protected]

 

KEYWORDS: United States North America Minnesota

INDUSTRY KEYWORDS: Technology Security Other Technology Telecommunications Software Networks Internet Data Management Primary/Secondary Education

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Magenta Therapeutics Announces IND Clearance for MGTA-117 Targeted Conditioning Clinical Trial

Magenta Therapeutics Announces IND Clearance for MGTA-117 Targeted Conditioning Clinical Trial

–  Phase 1/2 clinical trial expected to open in Q4 2021 in patients with relapsed/refractory acute myeloid leukemia (AML) and myelodysplastic syndromes (MDS) –

CAMBRIDGE, Mass.–(BUSINESS WIRE)–
Magenta Therapeutics, Inc. (Nasdaq: MGTA), a clinical-stage biotechnology company developing novel medicines to bring the curative power of stem cell transplant to more patients, announced today that its Investigational New Drug (IND) application for MGTA-117 is active with the U.S. Food and Drug Administration (FDA). The company expects to open the Phase 1/2 clinical trial in Q4 2021 to evaluate its MGTA-117 antibody-drug conjugate (ADC) targeted conditioning program.

“We are very pleased that our collaboration with the FDA has resulted in the clearance of the MGTA-117 IND. We have addressed the FDA’s request for a bioassay to be incorporated into the clinical trial protocol,” said Jason Gardner, D.Phil., President and Chief Executive Officer, Magenta Therapeutics. “Improving conditioning treatments is essential for broadening patient accessibility to the curative potential of stem cell transplant and gene therapies. We have designed MGTA-117 specifically to replace toxic radiation and chemotherapy-based conditioning agents used in current medical practice. This program holds significant potential for patients across several disease areas.”

The multi-center, open label Phase 1/2 clinical trial with single-dose escalating cohorts will evaluate the safety, tolerability, pharmacokinetics (PK) and pharmacodynamics (PD) of MGTA-117 as a single agent in relapsed/refractory AML and MDS patients. Magenta will continue to engage with the FDA to transition the trial to the intended primary target population of hematopoietic stem cell transplant-eligible AML and MDS patients. In addition, Magenta has planned gene therapy clinical trial collaborations with AVROBIO and Beam Therapeutics to evaluate the potential utility of MGTA-117 for conditioning gene therapy patients without the use of non-selective busulfan or other toxic chemotherapies.

About MGTA-117

Magenta’s MGTA-117 program is the company’s lead targeted conditioning product candidate, an antibody-drug conjugate (ADC) designed to selectively deplete hematopoietic stem cells (HSCs) from patients prior to transplant or HSC-based gene therapy to reduce the need for high-dose or high-intensity chemotherapeutic agents or, in the case of gene therapy applications, to potentially eliminate the need for chemotherapeutic agents altogether. MGTA-117 targets the CD117 receptor, which is highly expressed on the cell surface of HSCs and leukemia cells, making it a promising target for conditioning across broad sets of diseases, including certain blood cancers, hemoglobinopathies (sickle cell disease and beta thalassemia) and inherited metabolic disorders.

About Magenta Therapeutics

Magenta Therapeutics is a clinical-stage biotechnology company developing medicines to bring the curative power of stem cell transplants to more patients with blood cancers, genetic diseases and autoimmune diseases. Magenta is combining leadership in stem cell biology and biotherapeutics development with clinical and regulatory expertise, a unique business model and broad networks in the stem cell transplant community to revolutionize immune reset for more patients.

Magenta is based in Cambridge, Massachusetts. For more information, please visit www.magentatx.com.

Follow Magenta on Twitter: @magentatx.

Forward-Looking Statement

This press release may contain forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 and other federal securities laws, including express or implied statements regarding Magenta’s future expectations, plans and prospects, including, without limitation, statements regarding the anticipated timing of clinical trials, expectations and plans for pre-clinical and clinical data, communications with the FDA, the design of product candidates and their potential benefits, the development of product candidates and advancement of preclinical programs, the plans, timing, progress and success of collaborations, as well as other statements containing the words “anticipate,” “believe,” “continue,” “could,” “endeavor,” “estimate,” “expect,” “anticipate,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will” or “would” and similar expressions that constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. The express or implied forward-looking statements included in this press release are only predictions and are subject to a number of risks, uncertainties and assumptions, including, without limitation: uncertainties inherent in clinical studies and in the availability and timing of data from ongoing clinical studies; the development of biomarker assays ; whether results from preclinical studies or earlier clinical studies will be predictive of the results of future trials; the expected timing of submissions for regulatory approval or review by governmental authorities; discussions with governmental agencies such as the FDA; regulatory approvals to conduct trials or to market products; whether Magenta’s cash resources will be sufficient to fund Magenta’s foreseeable and unforeseeable operating expenses and capital expenditure requirements; risks, uncertainties and assumptions regarding the impact of the continuing COVID-19 pandemic on Magenta’s business, operations, strategy, goals and anticipated timelines, Magenta’s ongoing and planned preclinical activities, Magenta’s ability to initiate, enroll, conduct or complete ongoing and planned clinical trials, Magenta’s timelines for regulatory submissions and Magenta’s financial position; and other risks concerning Magenta’s programs and operations are described in additional detail in its Annual Report on Form 10-K filed on March 3, 2021, as updated by Magenta’s most recent Quarterly Report on Form 10-Q, and its other filings made with the Securities and Exchange Commission from time to time. Although Magenta’s forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by Magenta. As a result, you are cautioned not to rely on these forward-looking statements. Any forward-looking statement made in this press release speaks only as of the date on which it is made. Magenta undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

Magenta Therapeutics

Lyndsey Scull, Director, Corporate Communications

202-213-7086

[email protected]

KEYWORDS: United States North America Massachusetts

INDUSTRY KEYWORDS: Oncology FDA Health Other Health Clinical Trials Biotechnology

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Cerus Corporation to Present at the 2021 Cantor Global Virtual Healthcare Conference

Cerus Corporation to Present at the 2021 Cantor Global Virtual Healthcare Conference

CONCORD, Calif.–(BUSINESS WIRE)–
Cerus Corporation (Nasdaq: CERS) today announced that William ‘Obi’ Greenman, Cerus’ president and chief executive officer, and Kevin D. Green, Cerus’ chief financial officer, are scheduled to participate in the 2021 Cantor Global Virtual Healthcare Conference on Wednesday, September 29, 2021 at 11:20 a.m. ET.

A live webcast of the presentation will be available on Cerus’ Investor Relations page at http://www.cerus.com/ir. A replay of the webcast will be available for approximately two weeks following the completion of the event.

ABOUT CERUS

Cerus Corporation is dedicated solely to safeguarding the world’s blood supply and aims to become the preeminent global blood products company. Headquartered in Concord, California, the company develops and supplies vital technologies and pathogen-protected blood components to blood centers, hospitals, and ultimately patients who rely on safe blood. The INTERCEPT Blood System for platelets and plasma is available globally and remains the only pathogen reduction system with both CE mark and FDA approval for these two blood components. The INTERCEPT red blood cell system is under regulatory review in Europe, and in late-stage clinical development in the US. Also in the US, the INTERCEPT Blood System for Cryoprecipitation is approved for the production of INTERCEPT Fibrinogen Complex, a therapeutic product for the treatment and control of bleeding, including massive hemorrhage, associated with fibrinogen deficiency. For more information about Cerus, visit www.cerus.com and follow us on LinkedIn.

INTERCEPT and the INTERCEPT Blood System are trademarks of Cerus Corporation.

Matt Notarianni – Senior Director, Investor Relations

Cerus Corporation

925-288-6137

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: General Health Pharmaceutical Health Medical Supplies

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Westlake Contributes $250,000 to the Hurricane Ida Relief Fund

Westlake Contributes $250,000 to the Hurricane Ida Relief Fund

HOUSTON–(BUSINESS WIRE)–
Westlake Chemical Corporation (NYSE: WLK) today announced that it has contributed $250,000 to the Capital Area United Way’s Hurricane Ida Relief Fund in Baton Rouge, Louisiana. The Hurricane Ida Relief Fund was established to aid storm victims in the 10 parishes surrounding greater Baton Rouge.

“As a long-time member of the greater Baton Rouge community, home to approximately 1,000 of our Louisiana employees and core contractors, who work at our plants in Ascension and Iberville parishes, we are saddened by the many residents in the area who have been affected by Hurricane Ida,” said Westlake President and Chief Executive Officer Albert Chao. “We are thankful for the support of organizations like the United Way in this time of great need.”

In addition to this financial contribution, Westlake has been assisting its employees and their families, many of whom have suffered damage to their homes and have been without power.

About Westlake

Westlake is a global manufacturer and supplier of materials and innovative products that enhance life every day. Headquartered in Houston, we provide the building blocks for vital solutions — from building products and infrastructure materials, to packaging and healthcare products, to automotive and consumer goods. For more information, visit the company’s web site at www.westlake.com.

Chip Swearngan, [email protected] or 1-713-585-2900

KEYWORDS: United States North America Texas Louisiana

INDUSTRY KEYWORDS: Packaging Philanthropy Chemicals/Plastics Manufacturing Other Philanthropy Other Manufacturing

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Ladder Capital Corp Announces Third Quarter 2021 Dividend to Holders of Class A Common Stock

Ladder Capital Corp Announces Third Quarter 2021 Dividend to Holders of Class A Common Stock

NEW YORK–(BUSINESS WIRE)–
Ladder Capital Corp (“Ladder” or the “Company”) (NYSE: LADR) today announced the declaration by its Board of Directors of a third quarter 2021 dividend of $0.20 per share of Class A common stock. The cash dividend is payable on October 15, 2021 to stockholders of record as of the close of business on September 30, 2021.

About Ladder

Ladder Capital Corp is an internally-managed commercial real estate investment trust with $5.6 billion of assets as of June 30, 2021. Our investment objective is to preserve and protect shareholder capital while producing attractive risk-adjusted returns. As one of the nation’s leading commercial real estate capital providers, we specialize in underwriting commercial real estate and offering flexible capital solutions within a sophisticated platform.

Ladder originates and invests in a diverse portfolio of commercial real estate and real estate-related assets, focusing on senior secured assets. Our investment activities include: (i) our primary business of originating senior first mortgage fixed and floating rate loans collateralized by commercial real estate with flexible loan structures; (ii) investing in investment grade securities secured by first mortgage loans on commercial real estate; and (iii) owning and operating commercial real estate, including net leased commercial properties.

Founded in 2008, and led by Brian Harris, the Company’s Chief Executive Officer, Ladder is run by a highly experienced management team with extensive expertise in all aspects of the commercial real estate industry, including origination, credit, underwriting, structuring, capital markets and asset management. Members of Ladder’s management and board of directors are highly aligned with the Company’s investors, owning over 10% of the Company’s equity. Ladder is headquartered in New York City with a regional office in Miami, Florida.

Forward-Looking Statements and Coronavirus Risk

Certain statements in this release may constitute “forward-looking” statements. These statements are based on management’s current opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results. These forward-looking statements are only predictions, not historical fact, and involve certain risks and uncertainties, as well as assumptions. Actual results, levels of activity, performance, achievements and events could differ materially from those stated, anticipated or implied by such forward-looking statements. While Ladder believes that its assumptions are reasonable, it is very difficult to predict the impact of known factors, and, of course, it is impossible to anticipate all factors that could affect actual results, including the impact of the COVID-19 pandemic on the Company’s business. There are a number of risks and uncertainties that could cause actual results to differ materially from forward-looking statements made herein including, most prominently, the risks discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, as well as its consolidated financial statements, related notes, and other financial information appearing therein, and its other filings with the U.S. Securities and Exchange Commission. Such forward-looking statements are made only as of the date of this release. Ladder expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or changes in events, conditions, or circumstances on which any such statement is based.

Investor Contact

Ladder Capital Corp Investor Relations

(917) 369-3207

[email protected]

KEYWORDS: New York United States North America

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

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Paramount Declares Regular Quarterly Dividend

Paramount Declares Regular Quarterly Dividend

NEW YORK–(BUSINESS WIRE)–
Paramount Group, Inc. (NYSE: PGRE) (“Paramount”) announced today that its board of directors has declared a regular quarterly cash dividend of $0.07 per share of common stock for the period from July 1, 2021, to September 30, 2021. The dividend will be payable on October 15, 2021, to stockholders of record as of the close of business on September 30, 2021.

About Paramount Group, Inc.

Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.

Wilbur Paes

Chief Operating Officer,

Chief Financial Officer & Treasurer

212-237-3122

[email protected]

Sumit Sharma

Vice President, Business Development &

Investor Relations

212-237-3138

[email protected]

Paramount Media Contact:

212-492-2285

[email protected]

KEYWORDS: New York United States North America

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

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Seven-in-10 Hospital Executives Acknowledge Need to Invest More to Maximize Staff Efficiency

Seven-in-10 Hospital Executives Acknowledge Need to Invest More to Maximize Staff Efficiency

Zebra study reveals plans to mobilize urgent care teams, automate workflows, and regain control of supply chains

LINCOLNSHIRE, Ill.–(BUSINESS WIRE)–Zebra Technologies Corporation (NASDAQ: ZBRA), an innovator at the front line of business with solutions and partners that deliver a performance edge, today released the findings of its latest healthcare vision study. The “Smarter, More Connected Hospitals” global report reveals a stronger commitment to advanced technology tools as acute care providers strive to become more resilient and digitalize the patient journey.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210915005038/en/

Eighty-nine percent of executive decision-makers and 83% of clinicians surveyed agree real-time intelligence is essential for optimal patient care, and hospitals are increasingly investing in clinical mobility tools, real-time location systems (RTLS) and intelligent workflow solutions to support smarter, more connected workflows. However, more than two-thirds (67%) of hospital executives still don’t feel their organizations are investing enough to maximize staff efficiency and more must be done moving forward.

“The COVID-19 pandemic has tested the efficiency of both clinical and administrative workflows,” said Chris Sullivan, Global Healthcare Practice Lead, Zebra Technologies. “As a result, today’s healthcare leaders face the challenge of recalibrating technology systems to better support the needs of clinicians and patients.”

Need for Intelligent Workflow Automation

Approximately two-thirds of executives acknowledge physicians and caregivers are overextended during their shifts and spend too much time locating medical equipment and supplies. Over half report their administrative staff is equally overburdened and unable to complete their work during their shift. With people’s safety and well-being always the top priority, hospital executives are turning to technology to help combat fatigue, reduce errors caused by manual processes and workarounds, and refocus clinicians’ time on patients:

– Approximately 80% of executives plan to automate workflows in the next year to improve supply chain management, make it easier to locate critical equipment and medical assets, better orchestrate emergency rooms and operating rooms, and streamline staff scheduling.

– About three-quarters plan to use locationing technologies such as radio frequency identification (RFID) to better track equipment and specimens and improve patient flow and security. They are also turning to locationing solutions to create more dynamic workflows and improve staff efficiency, safety and compliance.

– Just as many executives say they will integrate visionary solutions like Internet of Things (IoT) sensors, prescriptive analytics, and artificial intelligence (AI) to help improve both inpatient and outpatient care as the opportunities for remote physician-to-patient and clinician-to-clinician consulting grow.

“Hospital staff must be able to identify, track, locate and monitor the condition of every patient, staff and asset. A mobile device alone can’t do that. That’s why we’re seeing rapid investment in locationing and automation solutions,” explains Sullivan. “It’s the technology that will work behind the scenes to improve front-line clinician workflows and the patient experience.”

Purpose-Built Mobility Solutions Drive Manageability

The majority of respondents (84%) believe the quality of patient care would improve if nurses, physicians and non-clinical healthcare workers had access to collaboration tools and the convenience of using their mobile devices to access healthcare applications.

This may come as a surprise considering that mobile technologies have been used in both clinical and non-clinical workflows for several years. By 2017, most bedside nurses, doctors and lab technicians were already using mobile devices, and adoption among pharmacy staff and intensive care unit nurses was on the rise. However, several acute care facilities were allowing staff to use their personal devices to connect to healthcare information systems and workflow applications at the time.

The approach to mobility is now changing. Nearly half (49%) of the surveyed executives now provide employees with hospital-owned devices intended for healthcare as more clinicians need durable and rugged devices, hospitals require more remote device management capabilities, and data security becomes a top priority. Those who have already adopted clinical mobility solutions are seeing the positive impact on the quality and cost of patient care with 8-in-ten citing an increase in medical workflow accuracy and precision as well as a reduction in preventable medical errors among other benefits.

All Technology Investments Tied to Workforce Transformation

Most hospital executives expect to have devices deployed across nearly all staff types in the next five years. However, the focus now is on nurses assigned to emergency departments, critical and intensive care units (ICU), and operating rooms as well as those responsible for IT, supply chain/inventory management and patient transport. This is a bit of a shift from 2017, when bedside nurses and facilities management staff were being prioritized for device deployments.

“Improving team communication is now a top goal of many hospitals, and executives are highly concerned about preventing the spread of infection and current staff burnout,” says Rikki Jennings, Chief Nursing Informatics Officer (CNIO), Zebra Technologies. “There is also a push to automate the orchestration of high traffic areas such as emergency rooms and operating rooms in the next year, which requires departmental staff to have mobile devices in hand.”

In addition, telehealth and remote patient tracking are rising on executives’ priority lists, both of which are poised to benefit ICU and emergency room staff, and forward-thinking leaders want to start the transition from manual, reactive processes to more responsive, predictive systems in the next few years.

As a result, most procurement and IT teams are now working to equip all staff with mobility solutions that enable them to access intelligent communications and locationing tools and take full advantage of automation solutions designed to streamline workflows and improve care delivery models. In fact, just as many doctors, pharmacists, radiologists and lab technicians are expected to have a device in hand in the next two years as emergency and critical care clinicians.

“More than ever, it is vitally important that all hospital functions work together as a cohesive ecosystem. That is only possible if they are plugged into the right information systems and one another,” adds Jennings. “Most of hospital’s transformation ambitions are either rooted in or dependent on mobile technology in some capacity. So, ensuring each staff member has a clinical device in hand is the first step to achieving a new standard of patient care and operational efficiency.”

KEY TAKEAWAYS

  • Zebra’s Smarter, More Connected Hospitals global report reveals hospitals are investing in clinical mobility tools, real-time location systems (RTLS) and intelligent workflow solutions. Yet 67% of hospital executives agree more must be done moving forward.
  • Most hospitals are committed to giving the “right device to the right worker,” a shift from 2017 when “bring your own device” (BYOD) strategies were equally popular.
  • Though hospitals are aiming to give nearly all staff mobile devices in the next five years, priority is being given right now to urgent care team members who need clinical mobility solutions to better manage patient surges and collaborate with physicians and nurses on the move.
  • Technologies that automate workflows and deliver real-time intelligence to hospital staff will benefit both patients and clinicians by reducing the time spent trying to track down critical medical assets and information. This optimized information ecosystem can lead to smarter decisions and fewer mistakes.
  • Telehealth and remote patient monitoring will be transformative for both clinicians and patients in the next few years, and most hospital executives plan to increase spend to support new applications.

SURVEY BACKGROUND AND METHODOLOGY

Zebra’s “Smarter, More Connected Hospitals” global report was conducted via an online survey among more than 500 senior-level hospital leaders within the clinical, IT, and procurement disciplines. The study’s goal was to better understand the role of technology in acute care hospitals. All data was collected and tabulated by third-party research firm, Azure Knowledge Corporation who surveyed respondents in Asia Pacific, Europe, Latin America and North America. The full report can be downloaded here.

ABOUT ZEBRATECHNOLOGIES

Zebra (NASDAQ: ZBRA) empowers the front line in retail/ecommerce, manufacturing, transportation and logistics, healthcare, public sector and other industries to achieve a performance edge. With more than 10,000 partners across 100 countries, Zebra delivers industry-tailored, end-to-end solutions to enable every asset and worker to be visible, connected and fully optimized. The company’s market-leading solutions elevate the shopping experience, track and manage inventory as well as improve supply chain efficiency and patient care. In 2020, Zebra made Forbes Global 2000 list for the second consecutive year and was listed among Fast Company’s Best Companies for Innovators. For more information, visit www.zebra.com or sign up for news alerts. Participate in Zebra’s Your Edge blog, follow the company on LinkedIn, Twitter and Facebook, and check out our Story Hub: Zebra Perspectives.

ZEBRA and the stylized Zebra head are trademarks of Zebra Technologies Corp., registered in many jurisdictions worldwide. All other trademarks are the property of their respective owners. ©2021 Zebra Technologies Corp. and/or its affiliates.

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Zebra Technologies

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Zebra Technologies

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University of Strathclyde Partners with Medallia for Employee and Community Experience

University of Strathclyde Partners with Medallia for Employee and Community Experience

Putting transparent staff and community feedback at the heart of the University and promoting real-time ideation, innovation, and collaboration helps Strathclyde discover, develop, and evaluate improvements

SAN FRANCISCO–(BUSINESS WIRE)–Medallia, Inc. (NYSE: MDLA), the global leader in customer and employee experience, today announced that the University of Strathclyde will leverage Medallia Experience Cloud as part of their People Strategy 2025 by committing to listening and responding to the views of staff. In addition, the university will leverage Medallia Crowdicity to tap into the ideas and knowledge of their faculty, students, and wider communities to manage a range of health and wellbeing challenges with and for citizens, other researchers, the NHS, and other care partners and industry.

Medallia Experience Cloud empowers Universities to make employee voices count by responding in the moment, making it easy for employees to have a say with ‘always-on feedback’ that goes beyond surveys to gauge real-time opinions and sentiment.

“We are excited to be partnering with Medallia and to use their innovative and collaborative service to listen and respond to the needs of our colleagues,” said Sara Copeland, Deputy Director of HR at the University of Strathclyde.

Medallia Crowdicity is an easy-to-use ideation, innovation, and collaboration platform for organisations looking to discover and action the best ideas and insights. With built-in gamification, rewards, and a built-in virtual community layer, Crowdicity helps any organisation discover and action ideas anytime, anywhere, from everyone.

“Crowdsourcing is an excellent way to engage University stakeholders, including students, industry partners, local community residents and the wider health and care communities in Scotland, and beyond,” said Dr. Marilyn Lennon from the Department of Computer and Information Sciences at the University of Strathclyde.

“Brilliant ideas can come from two sources, anywhere and everywhere,” said Medallia President and CEO Leslie Stretch. “Crowdicity helps organizations crowdsource ideas quickly, drive a culture of innovation, and increase engagement. As an alumnus, I’m especially excited to help the University of Strathclyde tap into the brilliance of the wider university community.”

Multiple groups and departments will use Crowdicity, and university staff have identified four high-impact use cases to pilot:

  • Industry Engagement: The university will look for ways to co-innovate with industry to work fast on smaller projects that impact important business and societal challenges.
  • NHS, Social Care, and Third Sector Engagement: The university will leverage Crowdicity to gather insights from colleagues in the NHS and care sector about current university curriculum and to identify gaps in the market for upskilling the future workforce.
  • Citizen Science (Living Lab): Ongoing engagement with professionals and the public more broadly to identify themes and topics related to health and care.
  • Student Innovation and Upskilling: Strathclyde is well placed to lead on interdisciplinary student projects addressing real challenges facing society, the economy and businesses. The university will leverage Crowdicity to help with tracking and measuring reach, engagement, and social impact of university programs.

“It is an honor to partner with such a high ranking and prestigious University such as Strathclyde,” said Riadh Barkat, Vice President for EMEA public sector at Medallia. “We look forward to helping the university bring together the wider community, local businesses, and public sector bodies around a wide range of innovative projects.”

For more information on Medallia Crowdicity, visit: https://www.medallia.com/platform/ideas.

About The University of Strathclyde

Known as “The Place of Useful Learning,” the University of Strathclyde is a public research university located in Glasgow, Scotland. Founded in 1796 as the Andersonian Institute, it is Glasgow’s second-oldest university, having received its royal charter in 1964 as the first technological university in the United Kingdom. Taking its name from the historic Kingdom of Strathclyde, it is Scotland’s third-largest university by number of students, with students and staff from over 100 countries.

The institution was named University of the Year 2012 by Times Higher Education and again in 2019, becoming the first university to receive this award twice. It is one of the 39 old universities in the UK comprising the distinctive second cluster of elite universities after Oxbridge.

About Medallia

Medallia (NYSE: MDLA) is the pioneer and market leader in customer, employee, citizen and patient experience. The company’s award-winning SaaS platform, Medallia Experience Cloud, is becoming the experience system of record that makes all other applications customer and employee aware. The platform captures billions of experience signals across interactions including all voice, video, digital, IoT, social media and corporate messaging tools. Medallia uses proprietary artificial intelligence and machine learning technology to automatically reveal predictive insights that drive powerful business actions and outcomes. Medallia customers reduce churn, turn detractors into promoters and buyers, create in-the-moment cross-sell and up-sell opportunities and drive revenue-impacting business decisions, providing clear and potent returns on investment. For more information visit www.medallia.com.

© 2021 Medallia, Inc. All rights reserved. Medallia®, the Medallia logo, and the names and marks associated with Medallia’s products are trademarks of Medallia. All other trademarks are the property of their respective owners.

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Hut 8 Mining Announces Pricing of $US150 Million Public Offering

PR Newswire

TORONTO, Sept. 15, 2021 /PRNewswire/ – Hut 8 Mining Corp. (Nasdaq: HUT) (TSX: HUT) (“Hut 8” or the “Company“) today announced the pricing of its previously announced underwritten public offering in the United States and Canada (the “Offering“). 

The Company has agreed to sell to the underwriters (the “Underwriters”) 17,550,000 common shares (the “Common Shares”) at a price of US$8.55 per share resulting in total gross proceeds to the Company of US$150,052,500.

The Offering is expected to close on September 17, 2021 subject to customary closing conditions, including approvals of the NASDAQ Stock Exchange and the Toronto Stock Exchange. 

In addition, the Company has granted the Underwriters an over-allotment option, exercisable for a period of 30 days from the date of the closing of the Offering, to purchase up to 2,632,500 additional Common Shares, representing 15% of the total number of common shares to be sold pursuant to the Offering.

The Company anticipates the net proceeds of the Offering will be used to support the growth of its business including to fund capital investments in digital assets mining equipment to increase mining capacity, for working capital and other general corporate purposes and potentially for strategic partnerships, joint ventures, or acquisitions.

Canaccord Genuity is acting as the Sole Bookrunner for the Offering and Stifel GMP and Craig-Hallum are acting as Co-Managers for the Offering.

In connection with the Offering, the Company filed a preliminary prospectus supplement, and a final prospectus supplement will also be filed, with the U.S. Securities and Exchange Commission as a supplement to the base shelf prospectus included in the Company’s effective registration statement on Form F-10 (SEC File No. 333-254059) under the U.S.-Canada multijurisdictional disclosure system (MJDS).  The Company also filed a preliminary prospectus supplement, and will file a final prospectus supplement, to its base shelf prospectus with the securities regulatory authorities in each of the provinces and territories of Canada.  The Offering will be made in the United States only by means of the registration statement, including the base shelf prospectus and applicable prospectus supplement and in Canada only by means of the base shelf prospectus and applicable prospectus supplement. Such documents contain important information about the Offering. Copies of, the registration statement and the preliminary prospectus supplement can and will be found on EDGAR at www.sec.gov and copies of the base shelf prospectus and the applicable prospectus supplement can and will be found on SEDAR at www.sedar.com. Copies of such documents may also be obtained from any of the following sources: Canaccord Genuity LLC, Attention: Syndicate Department, 99 High Street, 12th Floor, Boston MA 021990, by email at [email protected]; or by contacting the Corporate Secretary of the Company at Suite 500, 24 Duncan Street, Toronto, Ontario, Canada, M5V 2B8, by email at [email protected].

Prospective investors should read the base shelf prospectus and the prospectus supplement as well as the registration statement before making an investment decision.

No securities regulatory authority has either approved or disapproved the contents of this press release. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the common shares in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction.

About Hut 8 Mining Corp.

Hut 8 is one of North America’s largest innovation-focused digital asset miners, supporting open and decentralized systems since 2018. Located in energy rich Alberta, Canada, Hut 8 has one of the highest installed capacity rates in the industry and holds more self-mined Bitcoin than any crypto miner or publicly traded company globally. Hut 8 is executing on its commitment to mining and holding Bitcoin and has a diversified business and revenue strategy to grow and protect shareholder value regardless of Bitcoin’s market direction. The Company’s multi-pronged business strategy includes profitable digital asset mining, white-label high-performance compute hosting, as well as yield & income programs leveraging its Bitcoin held in reserve. Having demonstrated rapid growth and a stellar balance sheet, Hut 8 was the first publicly traded miner on the TSX and the first Canadian miner to be listed on The Nasdaq Global Select Market. Hut 8’s team of business building technologists are believers in decentralized systems, stewards of powerful industry-leading solutions, and drivers of innovation in digital asset mining and high-performance computing, with a focus on ESG alignment. Through innovation, imagination, and passion, Hut 8 is helping to define the digital asset revolution to create value and positive impacts for its shareholders and generations to come.


Cautionary Statement Regarding Forward-Looking Statements

This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include, but are not limited to, statements with respect to pricing of the Offering and its completion.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by Hut 8 as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to: there being insufficient investor demand for the Offering; economic and market conditions being conducive to the Offering on the timeline currently anticipated or at all; fluctuations in the market price of the Company’s common shares; risks related to the COVID-19 pandemic and its impact on the Company, economic conditions, and global markets; the failure of the Company and/or the underwriters to satisfy closing conditions to the Offering; other unforeseen events, developments, or factors causing any of the aforesaid expectations, assumptions, and other factors ultimately being inaccurate or irrelevant and those factors described in greater detail in our most recent annual and interim management’s discussion and analysis, and in the “Risk Factors” section of the prospectus supplement dated September 14, 2021 and the Company’s annual information form dated March 25, 2021, which are available at

www.sedar.com

, and should be considered carefully by prospective investors.

If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information. Although we have attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this press release represents our expectations as of the date specified herein and are subject to change after such date. However, we disclaim any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.

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SOURCE Hut 8 Mining Corp.