FILING DEADLINE–Kuznicki Law PLLC Announces Class Actions on Behalf of Shareholders of LDOS, REGI, and VLDR

CEDARHURST, N.Y., March 09, 2021 (GLOBE NEWSWIRE) — The securities litigation law firm of Kuznicki Law PLLC issues this alert to shareholders of the following publicly traded companies.

Leidos Holdings, Inc. (LDOS)

Class Period: May 4, 2020 and February 23, 2021
Lead Plaintiff Motion Deadline: May 3, 2021
SECURITIES FRAUD
To learn more, visit https://kclasslaw.com/cases/securities/nyse-ldos/

Renewable Energy Group, Inc. (REGI)

Class Period: May 3, 2018 and February 25, 2021
Lead Plaintiff Motion Deadline: May 3, 2021
SECURITIES FRAUD
To learn more, visit https://kclasslaw.com/cases/securities/nasdaqgs-regi/

Velodyne Lidar, Inc. (VLDR)

Class Period: November 9, 2020 and February 19, 2021
Lead Plaintiff Motion Deadline: May 3, 2021
SECURITIES FRAUD
To learn more, visit https://kclasslaw.com/cases/securities/nasdaqgs-vldr/

Shareholders who purchased shares in these companies during the dates listed are encouraged to contact us via the case links above, by calling toll-free at 1-833-835-1495 or by email ([email protected]).

If you wish to serve as lead plaintiff with the goal of overseeing the litigation to obtain a fair and just resolution, you must petition the Court on or before the deadlines provided above.

Kuznicki Law PLLC is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company’s stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Kuznicki Law PLLC
Daniel Kuznicki, Esq.
445 Central Avenue, Suite 344
Cedarhurst, NY 11516
Email: [email protected]
Phone: (347) 696-1134
Cell: (347) 690-0692
Fax: (347) 348-0967
https://kclasslaw.com



FILING DEADLINE–Kuznicki Law PLLC Announces Class Actions on Behalf of Shareholders of EBIX, EH, FUBO and MPLN

CEDARHURST, N.Y., March 09, 2021 (GLOBE NEWSWIRE) — The securities litigation law firm of Kuznicki Law PLLC issues this alert to shareholders of the following publicly traded companies.

EHang Holdings Limited (EH)

Class Period: December 12, 2019 and February 16, 2021 (February 16, 2021, purchases at or above the price of $112.00).
Lead Plaintiff Motion Deadline: April 19, 2021
SECURITIES FRAUD
To learn more, visit https://kclasslaw.com/cases/securities/nasdaqgm-eh/

fuboTV Inc. (FUBO)

Class Period: March 23, 2020 and January 4, 2021
Lead Plaintiff Motion Deadline: April 19, 2021
SECURITIES FRAUD
To learn more, visit https://kclasslaw.com/cases/securities/nyse-fubo/

Ebix, Inc. (EBIX)

Class Period: November 9, 2020 and February 19, 2021
Lead Plaintiff Motion Deadline: April 23, 2021
SECURITIES FRAUD
To learn more, visit https://kclasslaw.com/cases/securities/nasdaqgs-ebix/

MultiPlan Corporation f/k/a Churchill Capital Corp. III (MPLN)

Class Period: July 12, 2020 and November 10, 2020 and/or were holders of Churchill Capital Corp. III (“Churchill”) Class A common stock entitled to vote on Churchill’s merger with and acquisition of Polaris Parent Corp. and its consolidated subsidiaries completed in October 2020.
Lead Plaintiff Motion Deadline: April 26, 2021
SECURITIES FRAUD, MISLEADING PROSPECTUS
To learn more, visit https://kclasslaw.com/cases/securities/nyse-mpln/

Shareholders who purchased shares in these companies during the dates listed are encouraged to contact us via the case links above, by calling toll-free at 1-833-835-1495 or by email ([email protected]).

If you wish to serve as lead plaintiff with the goal of overseeing the litigation to obtain a fair and just resolution, you must petition the Court on or before the deadlines provided above.

Kuznicki Law PLLC is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company’s stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Kuznicki Law PLLC
Daniel Kuznicki, Esq.
445 Central Avenue, Suite 344
Cedarhurst, NY 11516
Email: [email protected]
Phone: (347) 696-1134
Cell: (347) 690-0692
Fax: (347) 348-0967
https://kclasslaw.com



Parkland Announces $600 Million Offering of Senior Unsecured Notes

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

CALGARY, Alberta, March 09, 2021 (GLOBE NEWSWIRE) — Parkland Corporation (“Parkland”, “we”, the “Company”, or “our”) (TSX:PKI) announced today that it has entered into an underwriting agreement to sell at par, pursuant to a private placement (the “Offering”), $600 million aggregate principal amount of 4.375% Senior Unsecured Notes due March 2029 (the “Notes”).

Parkland intends to use net proceeds of the Offering, together with borrowings under its credit facilities, to redeem: (i) all of the outstanding $300 million aggregate principal amount of its 5.75% Senior Notes (the “5.75% Senior Notes”) with a final maturity date of September 16, 2024; and (ii) $300 million of the outstanding $500 million aggregate principal amount of its 5.625% Senior Notes (the “5.625% Senior Notes”) with a final maturity date of May 9, 2025 (collectively referred to as the “Redemptions”), in each case, at the applicable redemption price noted below, plus accrued and unpaid interest to the applicable redemption date.

The Offering is being underwritten by Scotiabank, RBC Capital Markets and CIBC World Markets as joint bookrunners, and a syndicate of underwriters, including BMO Capital Markets and TD Securities as co-lead managers, and J.P. Morgan, ATB Capital Markets, Desjardins Securities, HSBC, MUFG, National Bank Financial Markets, Wells Fargo Securities, Peters & Co. Limited, Canaccord Genuity and Goldman Sachs & Co. LLC as co-managers. The Notes are being conditionally offered for sale in Canada on a private placement basis pursuant to certain prospectus exemptions. The Notes have not been registered under the U.S. Securities Act, or any state securities laws, and are being offered and sold in the United States only to qualified institutional buyers in reliance on Rule 144A under the U.S. Securities Act and applicable state securities laws and outside the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act.

Parkland also announced today that conditional redemption notices will be delivered for the full redemption of the 5.75% Senior Notes, with a redemption price of 102.875%, and the partial redemption of the 5.625% Senior Notes, with a redemption price of 102.813%. The redemption date for the 5.75% Senior Notes will be April 9, 2021 and the redemption date for the 5.625% Notes will be May 9, 2021. The Redemptions are conditional on the completion of the Offering.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.

Forward-Looking Statements

Certain information included herein is forward-looking. Many of these forward looking statements can be identified by words such as “believe”, “expects”, “expected”, “will”, “intends”, “projects”, “projected”, “anticipates”, “estimates”, “continues”, “objective” or similar words and include, but are not limited to, statements regarding the size and terms of the Offering, the use of proceeds of the Offering, the timing and successful completion of the Offering and statements regarding the pricing and timing of the Redemptions. Parkland believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.

The forward-looking statements contained herein are based upon certain assumptions and factors including, without limitation: historical trends, current and future economic and financial conditions, and expected future developments. Parkland believes such assumptions and factors are reasonably accurate at the time of preparing this press release. However, forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties some of which are described in Parkland’s annual information form dated March 5, 2021 (the “AIF”) and other continuous disclosure documents. Such forward-looking statements necessarily involve known and unknown risks and uncertainties and other factors, which may cause Parkland’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward looking statements. Such factors include, but are not limited to, risks associated with: closing of the Offering and effecting the Redemptions since they are conditional on closing of the Offering; failure to obtain any necessary consents and approvals required to complete the Offering; failure to complete the Offering and Redemptions; and general economic, market and business conditions; and other factors, many of which are beyond the control of Parkland. There is a specific risk that Parkland may be unable to complete the Offering and the Redemptions in the manner described in this press release or at all. If Parkland is unable to complete the Offering and/or Redemptions, there could be a material adverse impact on Parkland and on the value of its securities. Readers are directed to, and are encouraged to read, Parkland’s management discussion and analysis for the year ended December 31, 2020 (the “MD&A”) and the AIF, including the disclosure contained under the heading “Risk Factors” therein (including COVID-19 related risk factors). The MD&A and AIF are available by accessing Parkland’s profile on SEDAR at www.sedar.com and such information is incorporated by reference herein.

Any forward-looking statements are made as of the date hereof and Parkland does not undertake any obligation, except as required under applicable law, to publicly update or revise such statements to reflect new information, subsequent or otherwise. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

About Parkland Corporation

Parkland is an independent supplier and marketer of fuel and petroleum products and a leading convenience store operator. Parkland services customers across Canada, the United States, the Caribbean region and the Americas through three channels: Retail, Commercial and Wholesale. Parkland optimizes its fuel supply across these three channels by operating and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings in the communities it serves.

Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully. At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization.

For Further Information

Investor and Media Inquiries 

Investor Inquiries

Brad Monaco 
Director, Capital Markets 
587-997-1447 
[email protected]
Media Inquiries

Leroy McKinnon
Senior Specialist, Corporate Communications
403-567-2573
[email protected] 

To sign up for Parkland news alerts, please go to https://goo.gl/mNY2zj or visit www.parkland.ca.



Digital Transformation Opportunities Corp. Announces Pricing of Upsized $300 Million Initial Public Offering

Digital Transformation Opportunities Corp. Announces Pricing of Upsized $300 Million Initial Public Offering

BELLEVUE, Wash.–(BUSINESS WIRE)–
Digital Transformation Opportunities Corp. (the “Company”) today announced the pricing of its upsized initial public offering of 30,000,000 units at a price of $10.00 per unit. The units are expected to be listed for trading on the Nasdaq Capital Market under the ticker symbol “DTOCU” beginning March 10, 2021. Each unit consists of one share of the Company’s Class A common stock and one-fourth of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Company expects that its Class A common stock and warrants will be listed on the Nasdaq Capital Market under the symbols “DTOC” and “DTOCW,” respectively.

The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. Although the Company’s efforts to identify a prospective business combination opportunity will not be limited to a particular industry, it intends to focus on businesses in the healthcare industry, with a particular focus on healthcare technology and adjacent verticals.

The Company is led by Chief Executive Officer and Chairman Kevin Nazemi, who co-founded Oscar Health and served as its Co-Chief Executive Officer and co-founded Renew Health and served as its Chief Executive Officer. He concurrently serves as a director of Premera Blue Cross. Kyle Francis, former Chief Executive Officer and Chief Financial Officer of Southern California Reproductive Center, will be the Chief Financial Officer of the Company. The team also includes independent directors Bradley Fluegel, former Chief Strategy Officer of Walgreens and Anthem, Jim Moffatt, former Global Chief Executive Officer of Deloitte Consulting, and Heather Zynczak, former Chief Marketing Officer of Pluralsight, Inc. and Domo, Inc.

Barclays Capital Inc. is acting as sole book-running manager for the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 4,500,000 units at the initial public offering price to cover over-allotments, if any.

The public offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (888) 603-5847, email: [email protected].

A registration statement relating to the securities became effective on March 9, 2021. 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 these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is expected to close on March 12, 2021, subject to customary closing conditions.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the Company’s plans with respect to the target industry for a potential business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the Company will ultimately complete a business combination transaction. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the U.S. Securities and Exchange Commission (the “SEC”). Copies of these documents are available on the SEC’s website, at www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Julie Halpin

[email protected]

KEYWORDS: Washington United States North America

INDUSTRY KEYWORDS: Professional Services Health Technology Other Technology Other Health Finance

MEDIA:

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HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Investigating Acadia Pharmaceuticals (ACAD) For Possible Securities Law Violations, Encourages Investors with Losses to Contact Its Attorneys

PR Newswire

SAN FRANCISCO, March 9, 2021 /PRNewswire/ — Hagens Berman invites Acadia Pharmaceuticals Inc. (NASDAQ: ACAD) investors with significant losses to submit your losses now.  The firm is investigating possible securities law violations and certain investors may have valuable claims.

Visit: www.hbsslaw.com/investor-fraud/ACAD
Contact An Attorney Now: [email protected]
                                             844-916-0895

Acadia Pharmaceuticals Inc. (NASDAQ: ACAD) Investigation:

The investigation focuses on the accuracy of Acadia’s disclosures concerning its supplemental new drug application (“sNDA”) for NUPLAZID® (pimavanserin) for the treatment of hallucinations and delusions associated with dementia-related psychosis (“DRP”).

On Jul. 20, 2020, Acadia announced the U.S. FDA accepted for filing the sNDA.  The company also reassured investors “[t]he FDA has also informed the company that it has not identified any potential review issues at this point in their evaluation and at this time they are not planning to hold an Advisory Committee meeting.”

But on Mar. 8, 2021, Acadia shocked its shareholders when it announced that on Mar. 3, 2021 the FDA informed the company that during review of the sNDA the agency identified deficiencies that preclude discussion of labeling and post-marketing requirements/commitments at this time. 

Analysts were stunned by this news.  RBC Capital Markets analyst Gregory Renza reportedly said that after receiving the notice on Mar. 3 and “a subsequent five days of ghosting,” he now expects the FDA to issue a Complete Response Letter rejecting Acadia’s application.

In response to these disclosures, Acadia’s share price fell $20.76, or 45%, in a single trading day, on unusually heavy trading volume.

“We’re focused on investors’ losses and whether Acadia may have misled investors by concealing FDA-related review risks for the sNDA,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you are an Acadia investor and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding Acadia should consider their options to help in the investigation or take advantage of the SEC Whistleblower program.  Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.  For more information, call Reed Kathrein at 844-916-0895 or email [email protected].


About Hagens Berman


Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys.  The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com.  For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:

Reed Kathrein, 844-916-0895

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/hagens-berman-national-trial-attorneys-investigating-acadia-pharmaceuticals-acad-for-possible-securities-law-violations-encourages-investors-with-losses-to-contact-its-attorneys-301244083.html

SOURCE Hagens Berman Sobol Shapiro LLP

Jounce Therapeutics Announces Pricing of $56.25 Million Public Offering of Common Stock

CAMBRIDGE, Mass., March 09, 2021 (GLOBE NEWSWIRE) — Jounce Therapeutics, Inc. (Nasdaq: JNCE), a clinical-stage company focused on the discovery and development of novel cancer immunotherapies and predictive biomarkers, today announced that it has priced an underwritten public offering of 5,000,000 shares of common stock at a public offering price of $11.25 per share, which would result in gross proceeds of approximately $56.25 million, before underwriting discounts and commissions.

The proceeds of the offering are expected to be used to fund ongoing and planned clinical trials, including the INNATE trial of JTX-8064, to fund research and development to advance Jounce’s pipeline, and for working capital and other general corporate purposes. All shares are being offered by Jounce. Closing of the offering is expected to occur on or about March 12, 2021, subject to customary closing conditions. Jounce has also granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock offered in the public offering on the same terms and conditions.

Cowen and Piper Sandler are acting as joint book-running managers for the offering.

The offering is being made pursuant to a shelf registration statement that was filed with the Securities and Exchange Commission (“SEC”) on March 8, 2018 and declared effective by the SEC on May 1, 2018. The offering will be made only by means of the prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement relating to, and describing the terms of, the offering has been filed with the SEC and is available on the SEC’s web site at www.sec.gov.

The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering can be obtained from Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by telephone at 833-297-2926; or from Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by telephone at 800-747-3924.

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

About Jounce Therapeutics

Jounce Therapeutics, Inc. is a clinical-stage immunotherapy company dedicated to transforming the treatment of cancer by developing therapies that enable the immune system to attack tumors and provide long-lasting benefits to patients through a biomarker-driven approach. Jounce currently has multiple development stage programs ongoing while simultaneously advancing additional early-stage assets from its robust discovery engine based on its Translational Science Platform. Jounce’s highest priority program, JTX-8064, is a LILRB2 (ILT4) receptor antagonist shown to reprogram immune-suppressive tumor associated macrophages to an anti-tumor state in preclinical studies. A Phase 1 clinical trial, named INNATE, for JTX-8064 as a monotherapy and in combination with JTX-4014, Jounce’s internal PD-1 inhibitor, or pembrolizumab is currently enrolling patients with advanced solid tumors. Jounce’s most advanced product candidate, vopratelimab, is a monoclonal antibody that binds to and activates ICOS, and is currently being studied in the SELECT Phase 2 trial. JTX-4014 is a PD-1 inhibitor intended for combination use in the INNATE and SELECT trials and with Jounce’s broader pipeline. Additionally, Jounce exclusively licensed worldwide rights to JTX-1811, a monoclonal antibody targeting CCR8 and designed to selectively deplete T regulatory cells in the tumor microenvironment, to Gilead Sciences, Inc.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements, including, without limitation, statements regarding the anticipated use of proceeds from the proposed offering if the offering is consummated. The words, without limitation, ‘‘expect,’’ ‘‘intend,’’ ‘‘may,’’ ‘‘plan,’’ and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various important factors, including, without limitation, risks and uncertainties related to whether or not Jounce will be able to raise capital through the sale of shares of common stock, the final terms of the proposed offering, market and other conditions, the satisfaction of customary closing conditions related to the proposed offering and the impact of general economic, industry or political conditions in the United States or internationally. There can be no assurance that Jounce will be able to complete the proposed offering on the anticipated terms, or at all. Additional risks and uncertainties relating to the proposed offering, Jounce and its business can be found under the caption “Risk factors” in Jounce’s Annual Report on Form 10-K for the year ended December 31, 2020, which is on file with the Securities and Exchange Commission; and risks described in other filings that Jounce makes with the Securities and Exchange Commission in the future, including the preliminary prospectus supplement to be filed with the Securities and Exchange Commission in connection with the proposed offering. In addition, the extent to which the COVID-19 pandemic continues to impact Jounce workforce and its clinical trial operations activities, and the operations of the third parties on which Jounce relies, will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration and severity of the pandemic, additional or modified government actions, and the actions that may be required to contain the virus or treat its impact. Any forward-looking statements contained in this press release speak only as of the date hereof, and Jounce expressly disclaims any obligation to update any forward-looking statements, whether because of new information, future events or otherwise.

Investor and Media Contacts:

Malin Deon
Jounce Therapeutics, Inc.
+1-857-259-3843
[email protected]

Mark Yore
Jounce Therapeutics, Inc.
+1-857-200-1255
[email protected]



Sundance Energy Takes Action to Strengthen Balance Sheet and Position Business for Sustained Future Success, Commences Financial Restructuring With Lender Support

Company initiates voluntary, prepackaged Chapter 11 process that will eliminate over $250 million of funded debt obligations

Chapter 11 process expected to conclude in approximately 60 days

All operations to continue as usual; employees, vendors, royalty owners, and other trade creditors to continue being paid in full in the ordinary course of business

Enters Chapter 11 process with at least $45 million of committed DIP financing

DENVER, March 09, 2021 (GLOBE NEWSWIRE) — Sundance Energy Inc. (NASDAQ: SNDE) and its affiliates (“Sundance” or the “Company”), an onshore independent oil and natural gas company focused on the development of large, repeatable resource plays in North America, today announced that it has filed for voluntary Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas to effectuate a transaction that will strengthen the Company’s balance sheet and best position Sundance for sustained future success. All operations will continue as usual without interruption and the Chapter 11 process is expected to conclude in approximately 60 days.

On March 9, 2021, Sundance entered into a Restructuring Support Agreement (the “RSA”) with the administrative agent under its prepetition reserve-based revolving credit facility (the “RBL Facility”), holders of 100% of the outstanding principal amount of revolving loans under the RBL Facility, the administrative agent under the prepetition term loan (the “Term Loan Facility”), and holders of 100% of the outstanding principal amount of term loans under the Term Loan Facility, whereby the parties agreed to support the Company’s prepackaged plan of reorganization (the “Prepackaged Plan”) under Chapter 11 of the U.S. Bankruptcy Code. The Prepackaged Plan provides for a debt-for-equity exchange that will eliminate over $250 million of funded debt obligations from the Company’s balance sheet. Implementation of the Prepackaged Plan will strengthen Sundance’s financial structure, allowing it to focus on core competencies without the burden of servicing significant debt levels.

With the significant support of its lenders, implementation of the Prepackaged Plan will enable the Company to quickly and efficiently recapitalize its balance sheet and reorganize as a private entity with no material impact on the majority of its creditors. Under the Prepackaged Plan, which remains subject to approval by the Bankruptcy Court and consummation, existing equity interests would be cancelled on the effective date and holders of existing equity interests are not expected to receive any consideration or distributions on account of such interests.

The Company has also secured commitments from certain of its Term Loan lenders for at least $45 million in debtor-in-possession (“DIP”) financing that, along with normal operating cash flows and the consensual use of cash collateral, will fund normal-course operations and reorganization expenses. Upon emergence, the Company’s recapitalized balance sheet will include (i) $137.5 million of funded indebtedness comprising a senior secured reserve-based revolving credit facility, a senior secured second out term loan, and, if necessary, a senior secured third out term loan, in each case provided by the existing RBL Facility lenders and (ii) new common equity interests issued in exchange for DIP financing claims and Term Loan claims, subject to dilution by new common equity interests granted under a new management incentive plan.

“Sundance has faced numerous challenges in the last few years resulting in declining cash flow and liquidity that have only been exacerbated by the unprecedented COVID-19 pandemic and volatility in the market price of crude oil and natural gas,” said Eric McCrady, Sundance’s Chief Executive Officer. “As a result, we are taking decisive action to address these challenges and deleverage our balance sheet to best position our business for sustained future success. We are grateful for the support of our lenders throughout this process and anticipate that the consensus already achieved will simplify our path through Chapter 11 and enable us to emerge with a strengthened financial structure.”

Sundance expects to continue operations uninterrupted through the Chapter 11 process. The Company has filed customary motions with the Bankruptcy Court seeking authority for Sundance to continue operations in the ordinary course, including, but not limited to, paying employees and continuing existing benefit programs, paying royalty owners and vendors in the normal course, and meeting commitments to customers, including crude buyers. The Company has also filed a customary motion seeking to implement equity trading procedures in an effort to preserve the value of the Company’s tax attributes. Such motions are typical in the Chapter 11 process and Sundance anticipates that they will be heard and approved in the first few days of the Chapter 11 cases. In addition, the RSA and Prepackaged Plan contemplate that unsecured trade creditors will be paid in full under the Prepackaged Plan.

For more information about the Company’s Chapter 11 case, please visit https://cases.primeclerk.com/sundanceenergy or contact Prime Clerk, the Company’s noticing and claims agent, at (877) 470-4340 for U.S./Canadian calls or (347) 919-5764 for international calls, or by emailing [email protected].

Sundance is represented in this matter by Latham & Watkins LLP, Hunton Andrews Kurth LLP, Miller Buckfire & Co., LLC, and FTI Consulting Inc.

About Sundance Energy Inc.

Sundance Energy Inc. is an independent energy exploration and production company located in Denver, Colorado. The Company is focused on the acquisition and development of large, repeatable oil and natural gas resource plays in North America. Current activities are focused in the Eagle Ford. A comprehensive overview of the Company can be found on Sundance’s website at www.sundanceenergy.net.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words “project,” “believe,” “estimate,” “expect,” “anticipate,” “intend,” “contemplate,” “foresee,” “would,” “could,” “plan,” and similar expressions that are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on management’s current expectations and beliefs concerning future developments and their potential effect on Sundance. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Sundance will be those that are anticipated. Sundance’s forward-looking statements involve significant risks and uncertainties (some of which are beyond Sundance’s control) and assumptions that could cause actual results to differ materially from Sundance’s historical experience and present expectations or projections. These include, but are not limited to, risks or uncertainties associated with our ability to consummate the transactions associated with the Company’s current bankruptcy court proceeding, our ability to obtain in a timely manner confirmation of a successful plan of reorganization in the Company’s current bankruptcy court proceeding and general economic and business conditions, including the continued impact of the COVID-19 pandemic. You are cautioned not to place undue reliance on forward-looking statements contained in this press release, which speak only as of the date of this press release. Forward-looking statements also are affected by the risk factors described in Sundance’s 10-K filing for the fiscal year ended December 31, 2019, as may be amended, and those set forth from time-to-time in other filings with the SEC. Sundance undertakes no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.

For more information, please contact:

Cathy Anderson
Executive Vice President, Chief Financial Officer & Treasurer
Tel: (303) 407-0471
[email protected]

For media inquiries, please contact:

FTI Consulting
Angelo Thalassinos / Sarah Rosselet
[email protected]  



InterPrivate IV InfraTech Partners Inc. Announces Completion of $287,500,000 Initial Public Offering

PR Newswire

NEW YORK, March 9, 2021 /PRNewswire/ — InterPrivate IV InfraTech Partners Inc. (Nasdaq: IPVI) (the “Company”) announced today that it closed its initial public offering of 28,750,000 units, including 3,750,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full, at a price of $10.00 per unit. The units are listed on the Nasdaq Capital Market (“Nasdaq”) and commenced trading under the ticker symbol “IPVIU” on March 5, 2021. Each unit consists of one share of Class A common stock and one-fifth of one redeemable warrant, with each whole warrant exercisable to purchase one share of Class A common stock at a price of $11.50 per share. After the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “IPVI” and “IPVIW,” respectively.

InterPrivate IV InfraTech Partners Inc. is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue initial business combination targets in any industry, the Company currently intends to concentrate its efforts in identifying high growth businesses in the technology, media and telecom infrastructure space, with a focus on target companies with an enterprise value of $1 billion or more.

Morgan Stanley and Wells Fargo Securities acted as joint book-running managers, and EarlyBirdCapital, Inc. acted as co-manager of the offering.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on March 4, 2021. 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 these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering was made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained from Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at [email protected]; Wells Fargo Securities, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York 10001, via telephone 1-800-326-5897, or via email at [email protected]; or from EarlyBirdCapital, Inc., 366 Madison Avenue, 8th Floor, New York, NY 10017, Attn: Syndicate Department, 212-661-0200.


Cautionary Note Concerning Forward-Looking Statements
 
This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s initial public offering and search for an initial business combination. No assurance can be given that the proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement for the initial public offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.


Press Contact


Charlotte Luer, Marketing
[email protected]

 

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SOURCE InterPrivate IV InfraTech Partners Inc.

XL INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against XL Fleet Corp.

NEW YORK, March 09, 2021 (GLOBE NEWSWIRE) — Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of XL Fleet Corp. (“XL Fleet” or the “Company”) (NYSE: XL) from October 2, 2020 through March 2, 2021 (the “Class Period”). The lawsuit filed in the United States District Court for the Southern District of New York alleges violations of the Securities Exchange Act of 1934.

If you purchased XL Fleet securities, and/or would like to discuss your legal rights and options please visit XL Fleet Shareholder Class Action Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected]

The complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose to investors: (i) that XL Fleet’s salespeople were pressured to inflate their sales pipelines to boost the Company’s reported sales and backlog; (ii) that at least 18 of 33 customers that XL featured were inactive and had not placed an order since 2019;  (iii) that XL’s technology had been materially overstated and offered only 5% to 10% of fleet savings; (iv) that XL lacks the supply chain and engineers to roll out new products on the announced timelines; and (v) that, as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On March 3, 2021, Muddy Waters Research (“Muddy Waters”) published a report entitled: “XL Fleet Corp. (NYSE: XL): More SPAC Trash,” alleging, among other things, that salespeople were “pressured to inflate their sales pipelines materially in order to mislead XL’s board and investors” and that “customer reorder rates are in reality quite low” due to “poor performance and regulatory issues.” Citing interviews with former employees, the report alleged that “at least 18 of 33 customers XL featured were inactive.” Muddy Waters also claimed that XL has “weak technology” and that “XL’s announcement of future class 7-8 upfits seems highly promotional” because the task is “too technologically complex for XL engineers to deliver on the promised timeline.”

On this news, the Company’s share price fell $2.09, or 13%, to close at $13.86 per share on March 3, 2021, on unusually heavy trading volume. The share price continued to decline by $2.69, or 19.4%, over two consecutive trading sessions to close at $11.17 per share on March 5, 2021, on unusually heavy trading volume.

If you wish to serve as lead plaintiff, you must move the Court no later than May 7, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

If you purchased XL Fleet securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/xlfleetcorp-xl-shareholder-class-action-lawsuit-fraud-stock-377/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected].

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.

ATTORNEY ADVERTISING. © 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information

Matthew E. Guarnero
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
[email protected]



Kolibri Global Energy Inc. – 33.1 Million BOE in 2020 Year-End Proved Reserves

PR Newswire

NEWBURY PARK, Calif., March 9, 2021 /PRNewswire/ – Kolibri Global Energy Inc. (the “Company” or “KEI“) (TSX: KEI), is providing the results of its December 31, 2020 independent reserves evaluation.

Wolf Regener, President and CEO commented.  “We are very pleased that our proved reserves once again stayed essentially flat (1% decrease on a BOE basis) while we conserved cash by not drilling any new wells last year and instead paid down debt.  This demonstrates the low decline rates of our production and the quality of our reservoir.  We are also pleased that the estimated ultimate recovery (EURs) from the existing wells has stayed constant from the prior year.  The decrease to our proved reserves on a NPV basis by 36% compared to the prior year is primarily attributed to the lower estimated future pricing.  The WTI oil pricing assumptions for this years, December 31, 2020 report were $46 for the first year, vs $61 last year, $48 for the second year, vs $65 for last year, $53 for the third year vs $67 last year.  The current year’s strip price for oil is over 35% higher than the 2021 price used in the reserve report.

The year after year of excellent reserve numbers demonstrates the favorable performance of our wells and the long life we anticipate from our field.  In addition, we once again lowered our operating expenses through optimization and cost cutting, which has a positive impact on the value and helped offset the lower forecasted prices. 

The evaluation of the Company’s reserves in the Caney formation of the Tishomingo Field in the SCOOP area of Oklahoma was conducted by Netherland, Sewell & Associates, Inc. (“NSAI”) in accordance with National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities

2020 Gross Reserves Summary

  • Total Proved Reserves 33.1 million Barrels of oil equivalent (BOE)
    • a decrease of 1% over the December 31, 2019 estimate
  • Proved plus Probable Reserves 52.2 million BOEs
    • a decrease of 1% over the December 31, 2019 estimate
  • Proved plus Probable plus Possible Reserves 77 million BOEs
    • a decrease of 2% over the December 31, 2019 estimate

Net Present Value of Reserves discounted at 10%

  • Total Proved Reserves before tax of U.S. $192.9 million
    • a decrease of 36% over the December 31, 2019 estimate
  • Proved plus Probable Reserves before tax of U.S. $263.1 million
    • a decrease of 35% over the December 31, 2019 estimate
  • Proved plus Probable plus Possible Reserves before tax of U.S. $364.7 million
    • a decrease of 35% over the December 31, 2019 estimate

The above total Proved reserves are attributed to 18 of the Caney wells already drilled, four Woodford wells (4.9% working interest for the Company) and the drilling of 55.73 net additional wells over the next 3 years. The Probable reserves are attributed to the drilling of 28.93 net additional wells.  The wells in this report are planned at 107 acre spacing (6 wells per section) on approximately 13,171 net acres. 


Summary of Oil & Gas Reserves

Tight Oil

Shale Gas

Natural Gas Liquids

MBOE’s

Reserve Category

KEI
Gross
(Mbbl)

 Net 
(Mbbl)

KEI
Gross
(MMcf)

Net 
(MMcf)

KEI
Gross 
(Mbbl)

Net 
(Mbbl)

KEI
Gross 
(Mbbl)

Net 
(Mbbl)

Proved

Developed Producing

2,444

1,912

3,364

2,637

683

535

3,686

2,887

Undeveloped

21,462

16,881

21,649

16,955

4,365

3,419

29,435

23,125


Total Proved


23,906


18,793


25,013


19,593


5,047


3,954


33,121


26,012

Probable

12,500

9,937

17,852

14,217

3,600

2,867

19,075

15,174


Total Proved Plus Probable


36,407


28,730


42,864


33,810


8,647


6,821


52,196


41,186

Possible

17,759

14,236

18,987

15,162

3,829

3,058

24,752

19,820


Total Proved Plus Probable
Plus Possible


54,166


42,966


61,851


48,972


12,476


9,878


76,948


61,006

 


Net Present Value of Future Net Revenue


As of December 31, 2020


Forecast Prices & Costs

Net Present Value of Future Net Revenue ($ millions)

Before Income Tax

After Income Tax

Reserve Category

0%

5%

10%

15%

20%

0%

5%

10%

15%

20%


United States

Proved

Developed Producing

73.7

52.2

40.1

32.6

27.6

73.7

52.2

40.1

32.6

27.6

Undeveloped

509.1

271.5

152.8

85.8

44.7

398.0

229.3

133.1

75.0

38.1


Total Proved


582.7


323.7


192.9


118.5


72.3


471.7


281.5


173.2


107.6


65.7

Probable

350.8

150.7

70.2

32.3

12.4

258.4

118.1

53.9

22.3

5.8


Total Proved Plus Probable


933.5


474.5


263.1


150.7


84.7


730.1


399.6


227.1


129.9


71.5

Possible

607.4

229.1

101.6

48.6

23.4

447.6

183.2

78.2

33.4

12.9


Total Proved Plus Probable
plus Possible


1,540.9


703.6


364.7


199.3


108.1


1,177.7


582.8


305.3


163.3


84.4

Note: All dollar values are expressed in U.S. dollars and may not add due to rounding.

The Company’s reserves are derived from non-conventional oil and gas activities.  The Company’s reserves are contained in a shale oil reservoir from which gas and natural gas liquids are produced as by-products.  “Tight oil” means crude oil (a) contained in dense organic-rich rocks, including low-permeability shales, siltstones and carbonates, in which the crude oil is primarily contained in microscopic pore spaces that are poorly connected to one another, and (b) that typically requires the use of hydraulic fracturing to achieve economic production rates.  “Shale gas” means natural gas (a) contained in dense organic-rich rocks, including low-permeability shales, siltstones and carbonates, in which the natural gas is primarily adsorbed on the kerogen or clay minerals, and (b) that usually requires the use of hydraulic fracturing to achieve economic production rates.

These after income tax net present values reflect the tax burden on the Company’s Tishomingo Field interests on a standalone basis, do not consider the business-entity-level tax situation, or tax planning and do not provide an estimate of the value at the level of the business entity, which may be significantly different. The financial statements and the management’s discussion and analysis (MD&A) of the Company should be consulted for information at the level of the business entity.

Readers are referred to the Company’s Form 51-101F1 Statement of Reserves Data and Other Oil & Gas Information for the year ended December 31, 2020, which can be accessed electronically from the SEDAR website at www.sedar.com, for additional information.

“BOEs” refers to b
arrels of oil equivalent.
BOEs/boes may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf:1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Possible reserves are those additional reserves that are less certain to be recovered than probable reserves. There is a 10% probability that the quantities actually recovered will equal or exceed the sum of provided plus probable plus possible reserves. The present value of estimated future net revenues referred to herein does not represent fair market value and should not be construed as the current market value of estimated crude oil and natural gas reserves attributable to the Company’s properties.  Readers should be aware that references to initial production rates and other short-term production rates are preliminary in nature and are not necessarily indicative of long-term performance or of ultimate recovery.

About Kolibri Global Energy Inc.

Kolibri Global Energy Inc. is an international energy company focused on finding and exploiting energy projects in oil, gas and clean and sustainable energy.  Through various subsidiaries, the Company owns and operates energy properties in the United States. The Company continues to utilize its technical and operational expertise to identify and acquire additional projects. The Company’s shares are traded on the Toronto Stock Exchange under the stock symbol KEI and on the OTCQB under the stock symbol KGEIF.

Caution Regarding Forward-Looking Information

Certain statements contained in this news release constitute “forward-looking information” as such term is used in applicable Canadian securities laws, including statements regarding
 estimates of reserves and future net revenue, expectations regarding additional reserves and
statements regarding

Caney

wells development, including plans, anticipated results and timing

Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information.   Estimated reserves and future net revenue have been independently evaluated by NSAI with an effective date of December 31, 2020. This evaluation is based on a limited number of wells with limited production history and includes a number of assumptions relating to factors such as availability of capital to fund required infrastructure, commodity prices, production performance of the wells drilled, successful drilling of infill wells, the assumed effects of regulation by government agencies and future capital and operating costs
.
All of these estimates will vary from actual results. Estimates of the recoverable oil and natural gas reserves attributable to any particular group of properties, classifications of such reserves based on risk of recovery and estimates of future net revenues expected therefrom, will vary. The Company’s actual production, revenues, taxes, development and operating expenditures with respect to its reserves will vary from such estimates, and such variances could be material. 
Estimates of after-tax net present value are dependent on a number of factors including utilization of tax-loss carry forwards. 
In addition to the foregoing, other significant factors or uncertainties that may affect either the Company’s reserves or the future net revenue associated with such reserves include
 material changes to existing taxation or royalty rates and/or regulations, and changes to environmental laws and regulations. 
Forward-looking information regarding

Caney

wells development and expectations regarding additional reserves are based on plans and estimates of management and interpretations of exploration information by the Company’s exploration team at the date the information is provided and is subject to several factors and assumptions of management, including that required regulatory approvals and capital will be available when required, that completion techniques require further optimization, that production rates do not match the Company’s assumptions, that very low or no production rates are achieved, that no unforeseen delays, unexpected geological or other effects, equipment failures, permitting delays or labor or contract disputes or shortages are encountered, that the development plans of the Company and its co-venturers will not change, and is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information, including that anticipated results and estimated costs will not be consistent with managements’ expectations, the Company or its subsidiaries not being able for any reason to obtain and provide the information necessary to secure required approvals or that required regulatory approvals are otherwise not available when required, that capital is not available when required, that unexpected geological results are encountered and that equipment failures, permitting delays or labor or contract disputes or shortages are encountered.

Information on other important economic factors or significant uncertainties that may affect components of the reserves data and the other forward looking statements in this release are contained in the
Company’s Form 51-101F1 Statement of Reserves Data and Other Oil & Gas Information for the year ended December 31, 2020
, the Company’s Management Discussion and Analysis and the Company’s Annual Information Form under “Risk Factors”, which are available under the Company’s profile at www.SEDAR.com.  The Company undertakes no obligation to update forward-looking statements, other than as required by applicable law.

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SOURCE Kolibri Global Energy Inc.