Market Newsdesk

ANDOVER, Mass., March 08, 2021 (GLOBE NEWSWIRE) — MKS Instruments, Inc. (NASDAQ: MKSI), a global provider of technologies that enable advanced processes and improve productivity, today confirmed that it had submitted a revised offer on Friday March 5, 2021 to acquire all outstanding shares of Coherent, Inc. for $250 per share, composed of $135 in cash and $115 in shares of MKS common stock (subject to a symmetrical 10% collar).

“We respect the Coherent Board’s determination, though we are disappointed that they did not declare ours to be a superior offer,” said John T.C. Lee, President and CEO of MKS. “We have always been focused on long-term value creation. We continue to believe that MKS is the best partner for Coherent, and our analysis with respect to synergies, leverage, and dilution gives us confidence that the near- and long-term value creation of our offer exceeds that of the competing offers. However, we remain disciplined acquirers.”

Lazard and Barclays are acting as MKS’ financial advisors and WilmerHale LLP is serving as MKS’ legal advisor. Barclays is providing committed debt financing for the proposed transaction.

About MKS Instruments

MKS Instruments, Inc. is a global provider of instruments, systems, subsystems and process control solutions that measure, monitor, deliver, analyze, power and control critical parameters of advanced manufacturing processes to improve process performance and productivity for our customers. Our products are derived from our core competencies in pressure measurement and control, flow measurement and control, gas and vapor delivery, gas composition analysis, electronic control technology, reactive gas generation and delivery, power generation and delivery, vacuum technology, lasers, photonics, optics, precision motion control, vibration control and laser-based manufacturing systems solutions. We also provide services relating to the maintenance and repair of our products, installation services and training. Our primary served markets include semiconductor, industrial technologies, life and health sciences, research and defense. Additional information can be found at www.mksinst.com.

Safe Harbor For Forward-Looking Statements

Statements in this press release regarding the proposed transaction between MKS and Coherent, future financial and operating results, benefits and synergies of the transaction, financing for the transaction, future opportunities for the combined company and any other statements about MKS management’s future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words “will,” “projects,” “intends,” “believes,” “plans,” “anticipates,” “expects,” “estimates,” “forecasts,” “continues” and similar expressions) should also be considered to be forward-looking statements. These statements are only predictions based on current assumptions and expectations. Actual events or results may differ materially from those in the forward-looking statements set forth herein. Among the important factors that could cause actual events to differ materially from those in the forward-looking statements are: the ultimate outcome of discussions between MKS and Coherent, including the possibility that Coherent will ultimately reject a transaction with MKS; the ability of the parties to complete a transaction; the risk that the conditions to the closing of any transaction, including receipt of required regulatory approvals and approval of MKS’ and Coherent’s respective stockholders, are not satisfied in a timely manner or at all; litigation relating to the transaction; unexpected costs, charges or expenses resulting from the transaction; the risk that disruption from the proposed transaction materially and adversely affects the respective businesses and operations of MKS and Coherent; the ability of MKS to realize the anticipated synergies, cost savings and other anticipated benefits of the proposed transaction, including the risk that the anticipated benefits from the proposed transaction may not be realized within the expected time period or at all; potential adverse reactions or changes to business relationships resulting from the announcement, pendency or completion of the transaction; the ability of MKS to retain and hire key employees; legislative, regulatory and economic developments; changing conditions affecting the markets in which MKS operates, including the fluctuations in capital spending in the semiconductor industry and other advanced manufacturing markets; fluctuations in sales to MKS’ and Coherent’s existing and prospective customers; the impact of the COVID-19 pandemic on the global economy and financial markets, including any restrictions on MKS’ or Coherent’s operations and the operations of their respective customers and suppliers resulting from public health requirements and government mandates; the terms of MKS’ term loan and the availability and terms of the financing to be incurred in connection with the transaction; competition from larger or more established companies in MKS’ and Coherent’s respective markets; MKS’ ability to successfully grow the businesses of the combined company; the challenges, risks and costs involved with integrating the businesses of MKS and Coherent; potential fluctuations in quarterly results; dependence on new product development; rapid technological and market change; acquisition strategy; manufacturing and sourcing risks; volatility of stock price; international operations; financial risk management; and the other factors described in MKS’ most recent Form 10-K report filed by MKS with the U.S. Securities and Exchange Commission (the “SEC”). Additional risk factors may be identified from time to time in MKS’ future filings. The forward-looking statements included in this press release speak only as of the date hereof, and MKS does not undertake any obligation to update these forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by securities and other applicable laws.

Additional Information and Where to Find It

This communication does not constitute an offer to buy or solicitation of an offer to sell any securities. This communication relates to a proposal which MKS has made for a business combination transaction with Coherent. In furtherance of this proposal and subject to future developments, MKS (and, if a negotiated transaction is agreed to, Coherent) may file one or more registration statements, prospectuses, proxy statements or other documents with the SEC. This communication is not a substitute for any registration statement, prospectus, proxy statement or other document MKS and/or Coherent may file with the SEC in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS OF MKS AND COHERENT ARE URGED TO READ THE REGISTRATION STATEMENT, PROSPECTUS, PROXY STATEMENT AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Any definitive proxy statement (if and when available) will be mailed to stockholders of Coherent and MKS. Investors and security holders will be able to obtain free copies of these documents (if and when available) and other documents filed with the SEC by MKS through the web site maintained by the SEC at http://www.sec.gov.

Participants in the Solicitation

MKS and certain of its directors and executive officers may be deemed to be participants in any solicitation with respect to the proposed transaction under the rules of the SEC. Information regarding the interests of these participants in any such proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be included in any proxy statement and other relevant materials to be filed with the SEC if and when they become available. Additional information regarding MKS’ directors and executive officers is included in MKS’ most recent definitive proxy statement, which was filed with the SEC on March 27, 2020. These documents can be obtained free of charge from the sources indicated above.

MKS Contacts:

Investor Relations:
David Ryzhik
Vice President, Investor Relations
Telephone: (978) 557-5180
Email: [email protected]

Press Relations:
Bill Casey
Senior Director, Marketing Communications
Telephone: (630) 995-6384
Email: [email protected]

Tom Davies / Jeremy Fielding
Kekst CNC Press Liaisons
Emails: [email protected] / [email protected]

BRIDGEWATER, N.J., March 08, 2021 (GLOBE NEWSWIRE) —  Synchronoss Technologies, Inc. (NASDAQ: SNCR), a global leader and innovator of cloud, messaging and digital solutions, today announced that its Board of Directors has confirmed Jeff Miller as its President and Chief Executive Officer. Miller had been serving as interim President and CEO of Synchronoss since September 2020 and joined Synchronoss in 2018 as Chief Commercial Officer.

Prior to coming to Synchronoss, Miller was President of the Technology Group for IDEAL Industries, a firm focused on designing and delivering solutions for smart commercial buildings and spaces. He also served 16 years with Motorola, most recently as Corporate Vice President and General Manager of Operations in North America for Motorola Mobility, LLC, a division of Lenovo. Miller also held various leadership positions in sales management, marketing, and product management at AT&T during an 11-year tenure.

“I have had the opportunity to work closely with Jeff over these past six months. It’s been a challenging time for our team, our customers and the world at large, but the Board is delighted with Jeff’s transparent and pragmatic approach. I am pleased to confirm his position as our new President and CEO,” said Stephen Waldis, Founder and Executive Chairman of the Board of Synchronoss. “Jeff is aligned with our goal to focus Synchronoss on the lines of business that are generating the best results for our clients and have a clear line of sight into potential for the future growth and profitability of our business.”

Miller said he is very pleased and humbled to have been confirmed as Synchronoss’ new leader. “Our amazing team has demonstrated incredible drive, determination and resilience during the challenges faced this past year, while maintaining constant focus on serving our customers,” he said. “And although we’ve built strong momentum these past six months, it’s the future I’m most excited about. Synchronoss has a long heritage of helping telecom operators increase their service revenues and delight their subscribers – an approach to which we remain committed. As major changes take place in the 5G economy in personal cloud and advanced messaging markets, we are prepared to continue helping operators benefit from the consumer trust they’ve rightfully earned as they launch new, revenue-generating products and services.”

About Synchronoss

Synchronoss transforms the way companies create new revenue, reduce costs and delight their subscribers with cloud, messaging and digital solutions, supporting hundreds of millions of subscribers across the globe. Synchronoss’ secure, scalable and groundbreaking new technologies, trusted partnerships, and talented people change the way TMT customers grow their businesses. For more information, visit us at www.synchronoss.com. 

Contacts

Media


Anais Merlin, CCgroup (International)
+44 7 93252 6514 — [email protected]

Diane Rose, CCgroup (North America)
+1 727.238.7567 — [email protected]

Investors


Todd Kehrli/Joo-Hun Kim, MKR Investor Relations, Inc.
[email protected]

WEST PALM BEACH, Fla., March 08, 2021 (GLOBE NEWSWIRE) — Rennova Health, Inc. (OTC: RNVA), (OTC: RNVAW) (“Rennova” or the “Company”), an owner and operator of rural hospitals in Tennessee, announces that on March 5, 2021, it terminated discussions with TPT Global Tech, Inc. to merge its software and genetic testing interpretation divisions, Health Technology Solutions, Inc. (HTS) and Advanced Molecular Services Group, Inc., (AMSG) and their subsidiaries into InnovaQor.

The parties had worked for a number of months to close on an agreement that was previously announced but unfortunately could not reach final terms on a number of closing items and have agreed to immediately terminate discussions. Each party will continue independently with their own business strategy and plan.

Rennova will immediately pursue other options including, the filing of a Form 10 with the SEC to complete the separation of its software division as planned to its shareholders. Financial audits have been completed on Rennova’s software division in anticipation of closing the transaction as previously described. Rennova remains committed to creating a next generation telehealth type platform for healthcare providers and patients combining already developed Rennova assets and technology.

“Rennova is disappointed that the previously disclosed agreement with TPT Global Tech, Inc. could not be finalized successfully”, said Seamus Lagan, CEO of Rennova Health. “We believe we can quickly execute on a plan of separation of our software assets and opportunity that achieves the same outcome for our shareholders as previously intended, and build a successful healthcare software provider that meets the needs of a modern healthcare sector.”

About Rennova Health, Inc.

Rennova owns rural hospitals and a physician’s office in Tennessee and a physician’s office in Kentucky and provides industry-leading diagnostics and supportive software solutions to healthcare providers. For more information, please visit www.rennovahealth.com

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Additional information concerning these and other risk factors are contained in the Company’s most recent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

Contacts:

Rennova Health
Sebastien Sainsbury, 561-666-9818
[email protected]

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NETANYA, Israel, March 08, 2021 (GLOBE NEWSWIRE) — RADA Electronic Industries Ltd. (“RADA”) (NASDAQ and TASE: RADA), a global defense technology company, today announced the closing of its public offering of 5,175,000 ordinary shares at a public offering price of $11.50 per share. The gross proceeds to RADA from this offering, which includes the proceeds from the full exercise of the underwriters’ option to purchase an additional 675,000 ordinary shares, are expected to be approximately $59.5 million before deducting the underwriting discounts and commissions and other offering expenses payable by RADA.

RADA intends to use the net proceeds from this offering for general corporate purposes.

Jefferies LLC, Baird and Canaccord Genuity acted as joint bookrunners for this offering. A.G.P./Alliance Global Partners acted as lead manager in the offering.

The offering was made pursuant to an effective shelf registration statement (File No. 333-252015) declared effective by the Securities and Exchange Commission (“SEC”) on January 21, 2021. A final prospectus describing the terms of the offering has been filed with the SEC and is available on the SEC’s website located at http://www.sec.gov.

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

About RADA

RADA is a global defense technology company focused on proprietary radar solutions and legacy avionics systems. The Company is a leader in mini-tactical radars, serving attractive, high-growth markets, including critical infrastructure protection, border surveillance, active military protection and counter-drone applications.

Safe Harbor Statement

Certain statements in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Act of 1995, including statements regarding RADA’s expectations with respect to its proposed offering and its intended use of proceeds from the offering. These forward-looking statements speak only as of the date of this press release and are subject to a number of risks, uncertainties and assumptions, including the risks and uncertainties associated with market conditions, as well as risks and uncertainties inherent in RADA’s business, including, but not limited to, changes in general economic conditions, risks in product and technology developments, market acceptance of new products and continuing product demand, level of competition and other factors described in RADA’s Annual Report on Form 20-F for the year ended December 31, 2020, and other filings with the Securities and Exchange Commission.