Market Newsdesk

VANCOUVER, BC, April 19, 2021 /CNW/ – Premium Brands Holdings Corporation (TSX: PBH) (the “Company”), a leading producer, marketer and distributor of branded specialty food products, will hold a conference call to discuss its first quarter 2021 results on Thursday, May 6, 2021 at 10:30 a.m. PST (1:30 p.m. EST).  Mr. George Paleologou, President and CEO and Mr. Will Kalutycz, CFO will host the call.  A press release outlining the Company’s first quarter 2021 results will be issued on the morning of
Thursday, May 6, 2021. Additionally, an investor presentation that will be referenced on the conference call will be made available on the Company’s website at http://www.premiumbrandsholdings.com.

Access to the call may be obtained by calling the operator at (833) 300-9218 / (647) 689-4551 (Conference ID: 5298429) up to ten minutes prior to the scheduled start time.  For those who are unable to participate, a recording of the conference call will be available through to 8:59 p.m. PST on May 20, 2021 at (855) 859-2056 / (404) 537-3406 (passcode: 5298429).  Alternatively, a recording of the conference call will be available at the Company’s website at http://www.premiumbrandsholdings.com.  

About Premium Brands

Premium Brands owns a broad range of leading specialty food manufacturing and differentiated food distribution businesses with operations across Canada, the United States, and Italy.

SOURCE Premium Brands Holdings Corporation

BOUCHERVILLE, QC, April 19, 2021 /CNW Telbec/ – Lowe’s Canada, one of Canada’s leading home improvement retailers operating or servicing some 470 corporate and affiliated stores under the Lowe’s, RONA, Reno-Depot, and Dick’s Lumber banners, is proud to be featured on the list of Canada’s Greenest Employers 2021. Held by Mediacorp, this annual competition recognizes employers who have implemented exceptional sustainability initiatives and lead the way toward creating a culture of environmental awareness within their organizations.

“Being a good corporate citizen is something we take very much to heart at Lowe’s Canada. This is why we adopted a three-pronged sustainability commitment, which includes helping our customers to reduce the environmental impact of their projects, as well as reducing the environmental footprint of our operations. Our goal is to drive significant and impactful change throughout our network,” explained Tony Hurst, President of Lowe’s Canada.

“From our free take-back programs for paint, batteries, and light bulbs, to our selection of over 5,000 ECO products and our recent investment of more than 24 million dollars in energy efficiency initiatives, we are determined to implement forward-looking initiatives to leave a healthy planet to future generations,” added Jean-Sébastien Lamoureux, Vice-President, Public Affairs, Asset Protection and Sustainable Development at Lowe’s Canada. “This desire to do the right thing echoes strongly with our associates, who take great pride and find a sense of purpose in working for a responsible employer, and knowing that their work makes a difference.”

Organizations who submit an application to the contest are evaluated on four criteria:

• The unique environmental initiatives and programs they have developed;
• The extent to which they have been successful in reducing the organization’s own environmental footprint;
• The degree to which their employees are involved in these programs and whether they contribute any unique skills, and:
• The extent to which these initiatives have become linked to the employer’s public identity, attracting new employees and clients to the organization.

Lowe’s Canada is hiring to fill hundreds of positions across the country

Lowe’s Canada is currently looking for candidates from all walks of life, with or without experience, to fill more than hundreds of part-time and full-time, seasonal, and permanent positions within its Lowe’s, RONA, and Reno-Depot corporate store network, as well as its Boucherville distribution centre and head office. Those interested in becoming part of the Lowe’s Canada family and working for a sustainable employer can visit lowescanada.ca/careers to learn more about the positions available and how to apply. 

Find out more about Lowe’s Canada’s sustainability journey at lowescanada.ca/en/corporate-responsibility. To view the complete list of Canada’s Greenest Employers 2021 and read the magazine dedicated to this year’s competition, go to www.canadastop100.com/environmental. To share this news on social media, please use @Lowe’s Canada and @Canada’s Top 100 Employers (LinkedIn), as well as @LowesCanadaCorp and @top_employers (Twitter).

About Lowe’s Canada

Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 20 million customers a week in the United States and Canada. With fiscal year 2020 sales of nearly $90 billion, Lowe’s and its related businesses operate or service more than 2,200 home improvement and hardware stores and employ over 300,000 associates. Based in Boucherville, Quebec, Lowe’s Canadian business, together with its wholly owned subsidiary RONA inc., operates or services some 470 corporate and independent affiliate dealer stores in a number of complementary formats under different banners, which include Lowe’s, RONA, Reno-Depot, and Dick’s Lumber. In Canada, they have more than 26,000 associates, in addition to approximately 5,000 employees in the stores of independent affiliate dealers operating under the RONA banner. For more information, visit lowescanada.ca.

About Mediacorp Canada Inc.

Founded in 1992, Mediacorp Canada Inc. is the nation’s largest publisher of employment periodicals. Since 1999, the Toronto-based publisher has managed the Canada’s Top 100 Employers project, which includes 18 regional and special-interest editorial competitions that reach over 15 million Canadians annually through a variety of magazine and newspaper partners, including The Globe and Mail. Mediacorp also operates Eluta.ca, one of Canada’s largest job search engines, which reaches millions of job-seekers annually and features editorial reviews from the Canada’s Top 100 Employers project.

SOURCE Lowe’s Canada

• CRH Medical Corp.’s securityholders approved the acquisition of CRH by a subsidiary of WELL Health at the special meeting of CRH securityholders on Friday April 16, 2021.
• The transaction is expected to be completed on or about April 22, 2021 and represents WELL’s largest acquisition to date with a total transaction value of approximately US$369.2 million.
• Upon closing, subscription receipts from WELL’s previously announced C$302.5M equity offering will be exchanged into common shares of WELL.

VANCOUVER, BC, April 19, 2021 /PRNewswire/ – WELL Health Technologies Corp. (TSX: WELL) (“WELL” or the “Company“), a company focused on consolidating and modernizing clinical and digital assets within the healthcare sector, is pleased to announce that on April 16, 2021, the securityholders of CRH Medical Corporation (“CRH“) (TSX: CRH) (NYSE: CRHM)  approved the acquisition of CRH by a subsidiary of WELL for US$4.00 per share in cash (the “Acquisition“).  As previously announced on February 8, 2021, this Acquisition represents an equity consideration of approximately US$292.7 million and a transaction value of approximately US$369.2 million, inclusive of CRH’s credit facility.  The Acquisition is subject to court and regulatory approvals and clearances, as well as other customary closing conditions.  Subject to the satisfaction of such conditions, the Acquisition is expected to be completed on or about April 22, 2021.

Hamed Shahbazi, Chairman and CEO of WELL commented, “We are very pleased with the approval of our acquisition of CRH by CRH securityholders.  We are very excited with the imminent closing of this transaction and look forward to adding CRH to the WELL family.  Once the acquisition is completed, CRH represents a significant opportunity for WELL as it will significantly boost WELL’s revenue, and profitability and provides, WELL with additional inorganic and organic growth opportunities including a meaningful channel of over 3000 physicians to offer its digital tools, tech enablement and data protection services.  CRH is expected to generate significant cash flow for WELL for many years and meaningfully elevate our capital allocation program across a number of attractive healthcare and healthcare-technology segments.”

The Acquisition is partially funded via a subscription receipt equity offering of approximately C$302.5M at a price of C$9.80 per subscription receipt (the “Offering“) which was led by Hong Kong businessman and investor, Mr. Li Ka-shing, and included WELL’s CEO, board and senior management team as well as a number of significant institutional investors.  The Offering was structured as a non-brokered offering of subscription receipts, and represented a 25% premium to the 5-day volume weighted average price of WELL’s common shares on the Toronto Stock Exchange preceding the announcement on February 8, 2021 of the Offering and the related Acquisition of CRH. 

In conjunction with the completion of the Acquisition, escrowed proceeds from the Offering will be released to WELL’s wholly-owned subsidiary, 1286392 B.C. Ltd. (“Finco“) and each subscription receipt will automatically convert, without any further action on the part of the subscription receipt holders and for no additional consideration, into one common share of Finco (each a “Finco Share“).  Immediately thereafter, and as part of the plan of arrangement under the Acquistion, each Finco Share will be exchanged for one common share of WELL.

WELL HEALTH TECHNOLOGIES CORP.
Per: “Hamed Shahbazi”  
Hamed Shahbazi
Chief Executive Officer, Chairman and Director

About WELL Health Technologies Corp.

WELL is an omni-channel digital health company whose overarching objective is to empower doctors to provide the best and most advanced care possible while leveraging the latest trends in digital health.  As such, WELL owns and operates 27 primary healthcare clinics in both Canada and the US, operates a multi-national digital Electronic Medical Records (EMR) business serving thousands of healthcare clinics of all sizes, operates a high quality telehealth service in both Canada and the United States and is a provider of digital health, billing and cybersecurity related technology solutions.  WELL is an acquisitive company that follows a disciplined and accretive capital allocation strategy.  WELL is publicly traded on the Toronto Stock Exchange under the symbol “WELL“. To access the Company’s telehealth service, visit: tiahealth.com, and for corporate information, visit: www.well.company.

About CRH:

CRH is a North American company focused on providing gastroenterologists throughout the United States with innovative services and products for the treatment of gastrointestinal diseases.  In 2014, CRH became a full service gastroenterology anesthesia company that provides anesthesia services for patients undergoing endoscopic procedures in ambulatory surgical centers.  To date, CRH has completed 33 anesthesia acquisitions, and now serves 72 ambulatory surgical centers in 15 states.  In addition, CRH owns the “CRH O’Regan System”, a single-use, disposable, hemorrhoid banding technology that is safe and highly effective in treating all grades of hemorrhoids.  CRH distributes the O’Regan System, treatment protocols, operational and marketing expertise as a complete, turnkey package directly to gastroenterology practices, creating meaningful relationships with the gastroenterologists it serves.  CRH’s O’Regan System is currently used in all 48 lower US states.

Notice Regarding Forward Looking Statements

Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature including the statements regarding: the completion and timing of the Acquisition and post-closing objectives of WELL for the CRH business unit.  Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements.  These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “would”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe”, “working on” or “continue”, or the negative thereof or similar variations. There are numerous risks and uncertainties that could cause actual results and WELL’s plans and objectives to differ materially from those expressed in the forward-looking information, including: risks that the Acquisition may not close for any number of reasons; inability to secure court approval; risks outlined in WELL’s publicly filed documents available on SEDAR; business disruption risks relating to COVID-19; regulatory risks, including those related to healthcare, privacy and data security; and integration risks relating to the acquired business on a post-closing basis.  Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice.  Except as required by law, the Company does not intend to update these forward-looking statements.

This news release contains future-oriented financial information and financial outlook information (collectively, “FOFI“) about WELL’s expected increase in revenue, cash flow and EBITDA on a post-closing basis assuming consummation of the Acquisition, all of which are subject to the same assumptions, risk factors, limitations, and qualifications as set out in the above paragraphs.  The actual financial results of WELL on a post-closing basis may vary from the amounts set out herein and such variation may be material. WELL and its management believe that the FOFI has been prepared on a reasonable basis, reflecting management’s best estimates and judgments.  However, because this information is subjective and subject to numerous risks, it should not be relied on as necessarily indicative of future results.  Except as required by applicable securities laws, WELL undertakes no obligation to update such FOFI.  FOFI contained in this news release was made as of the date hereof and was provided for the purpose of providing further information about WELL’s anticipated future business operations on a post-closing basis.  Readers are cautioned that the FOFI contained in this news release should not be used for purposes other than for which it is disclosed herein.

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SOURCE WELL Health Technologies Corp.

STELLARTON, NS, April 19, 2021 /CNW/ – Empire Company Limited (“Empire” or the “Company”) (TSX: EMP.A) today announced it has increased the size of its current Normal Course Issuer Bid (“NCIB”) by filing an amended notice of intention with the Toronto Stock Exchange (“TSX”). The amendment increases the number of Non-Voting Class A shares (“Class A shares”) the Company intends to purchase for cancellation from 5,000,000 to 8,548,551 Class A shares, representing approximately 3.0% and 5.0% of the Class A shares outstanding, respectively, subject to approval by the TSX. The purchases will be made through the facilities of the TSX and/or any alternative trading systems to the extent they are eligible. The price that Empire will pay for any such shares will be the market price at the time of acquisition. The current NCIB commenced on July 2, 2020, and purchases shall terminate not later than July 1, 2021.

In fiscal 2020, pursuant to an NCIB for the purchase of up to 3.5 million Class A shares filed in the first quarter of fiscal 2020, the Company purchased for cancellation 2,997,583 Class A shares through the facilities of the TSX and alternative trading systems at a weighted average price of $33.36 for a total consideration of $100.0 million. Under the current NCIB in fiscal 2021, the Company has up to April 15, 2021 purchased for cancellation 3,506,360 Class A shares through the facilities of the TSX at a weighted average price of $36.81 for a total consideration of $129.1 million.

The average daily trading volume (the “ADTV”) of the Class A shares was 632,893 on the TSX over the six calendar months preceding the NCIB. Accordingly, under the policies of the TSX, Empire is entitled to purchase, during any one trading day up to 158,223 Class A shares (being 25 percent of the ADTV of the Class A shares). Empire is entitled to purchase a larger amount of Class A shares per calendar week, subject to the maximum number that may be acquired under the normal course issuer bid, if the transaction meets the block purchase exception under the TSX rules.

The Company has also amended its automatic share purchase plan with its designated broker allowing the purchase of Class A shares for cancellation under its NCIB during trading black-out periods, subject to regulatory approval.

The Company believes that repurchasing shares at the prevailing market prices from time to time is a worthwhile use of funds and in the best interests of Empire and its shareholders.

FORWARD-LOOKING INFORMATION

This document contains forward-looking statements which are presented for the purpose of assisting the reader to contextualize the Company’s financial position and understand management’s expectations regarding the Company’s strategic priorities, objectives and plans. These forward-looking statements may not be appropriate for other purposes. Forward-looking statements are identified by words or phrases such as “anticipates”, “expects”, “believes”, “estimates”, “intends”, “could”, “may”, “plans”, “predicts”, “projects”, “will”, “would”, “foresees” and other similar expressions or the negative of these terms.

These forward-looking statements include, but are not limited to, the Company’s plans to purchase for cancellation Class A shares, which may be impacted by market and economic conditions, changes in laws and regulations, and the results of operations. By its nature, forward-looking information requires the Company to make assumptions and is subject to inherent risks, uncertainties and other factors which may cause actual results to differ materially from forward-looking statements made. For more information on risks, uncertainties and assumptions that may impact the Company’s forward-looking statements, please refer to the Company’s materials filed with the Canadian securities regulatory authorities, including the “Risk Management” section of the fiscal 2020 annual MD&A.

Although the Company believes the predictions, forecasts, expectations or conclusions reflected in the forward-looking information are reasonable, it can provide no assurance that such matters will prove correct. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such forward-looking information. The forward-looking information in this document reflects the Company’s current expectations and is subject to change. The Company does not undertake to update any forward-looking statements that may be made by or on behalf of the Company other than as required by applicable securities laws.

ABOUT EMPIRE

Empire Company Limited (TSX: EMP.A) is a Canadian company headquartered in Stellarton, Nova Scotia. Empire’s key businesses are food retailing, through wholly-owned subsidiary Sobeys Inc., and related real estate. With approximately $28.4 billion in annual sales and $15.0 billion in assets, Empire and its subsidiaries, franchisees and affiliates employ approximately 127,000 people.

Additional financial information relating to Empire, including the Company’s Annual Information Form, can be found on the Company’s website at www.empireco.ca or on SEDAR at www.sedar.com.

SOURCE Empire Company Limited

NEWTON, Mass., April 19, 2021 /PRNewswire/ — Karyopharm Therapeutics Inc. (Nasdaq:KPTI), a commercial-stage pharmaceutical company pioneering novel cancer therapies, today announced that health-related quality of life (HRQoL) data from the Phase 3 portion of the SEAL (Selinexor in Advanced Liposarcoma) study were published online in Future Oncology.  The SEAL study evaluated twice weekly, single agent selinexor, the Company’s first-in-class, oral Selective Inhibitor of Nuclear Export (SINE) compound, versus matching placebo in patients with advanced unresectable dedifferentiated liposarcoma (DDLPS) who have experienced disease progression following at least two prior therapies. XPOVIO® (selinexor) is currently approved by the U.S. Food & Drug Administration (FDA) for the treatment of relapsed or refractory multiple myeloma and relapsed or refractory diffuse large B-cell lymphoma; XPOVIO has not been approved for the treatment of DDLPS and, therefore, its safety and efficacy for that patient population have not been established.

“The Phase 3 SEAL study suggests that selinexor has enhanced clinical activity and a manageable safety profile in patients with DDLPS, a very rare and aggressive form of cancer where there are very few treatment options available. In addition to meeting its primary endpoint with a statistically significant improvement in progression-free survival (PFS), treatment with selinexor also resulted in improvements in key quality of life parameters as compared to patients treated with placebo,” said Jatin Shah, MD, Chief Medical Officer of Karyopharm. “The results highlight that the reduction in tumor growth, as measured by objective radiographic PFS, is accompanied by clinically important reductions in pain, with minimal effects on other aspects of quality of life. Since pain is one of the most devastating symptoms associated with advanced and progressing DDLPS, the significant reduction in pain, and a delay in the time to definitive deterioration reported by patients in the selinexor arm, combined with the convenience of an orally administered therapy, could represent a meaningful clinical benefit to patients.”

“We are pleased to see the first set of data from the Phase 3 SEAL study now published in a peer-reviewed medical journal,” said Sharon Shacham, PhD, MBA, Founder, President and Chief Scientific Officer of Karyopharm. “These data continue to support our overarching development strategy to pursue additional solid tumor indications where we believe selinexor can demonstrate meaningful clinical activity both as a single agent, and more importantly, as part of future combination regimens for patients battling cancer.”

The Phase 3 SEAL Study Health-Related Quality of Life Results  

The published SEAL study results were based on the randomized, double blind, placebo-controlled, cross-over, Phase 3 portion of the study, which evaluated oral selinexor versus matching placebo in 285 adult patients with advanced unresectable DDLPS. The secondary endpoint of the SEAL study measured HRQoL outcomes by using the EORTC QLQ-C30 questionnaire, which was completed by 255 patients in the study. Overall, the results showed that pain scores worsened in the placebo arm compared to the selinexor arm across all post-baseline visits, though some visits were not statistically significant. The patients who received twice-weekly selinexor also reported lower rates and slower worsening of pain over time and a longer time to marked clinical deterioration of pain compared to patients treated with placebo. Median time to next treatment was also significantly longer in patients receiving selinexor compared to those receiving placebo. These results indicate that reduction in tumor growth (as measured by objective radiographic PFS) is accompanied by clinically important reduction in pain, with minimal effects on other aspects of quality of life.

About the SEAL Study

SEAL (Selinexor in Advanced Liposarcoma) was a Phase 2/3, randomized, double blind, placebo-controlled, multicenter study (NCT02606461) designed to evaluate the efficacy and safety of twice-weekly, 60mg fixed dose of selinexor in patients with advanced unresectable dedifferentiated liposarcoma following at least two prior therapies. The Phase 3 portion of the study enrolled 285 patients (2:1 randomization). Patients on the placebo arm with confirmed progressive disease were permitted to cross over to the selinexor treatment arm. The primary endpoint of the study was PFS and secondary endpoint measured HRQoL outcomes. In the study, selinexor was associated with a 30% reduction in the time to disease progression or death in the Phase 3 portion (hazard ratio (HR)=0.70; p=0.023, medians 2.83 months on selinexor compared to 2.07 months on placebo).

The most common treatment-related adverse events (AEs) were cytopenias, along with gastrointestinal and constitutional symptoms and were consistent with those previously reported from other selinexor studies. Most AEs were manageable with dose modifications and/or standard supportive care. The most common non-hematologic treatment-related AEs were nausea (81%), decreased appetite (60%), fatigue (51%), and vomiting (49%) and were mostly Grade 1 and 2 events. The most common Grade 3 and 4 treatment-related AEs were anemia (19%), hyponatremia (11%), thrombocytopenia (10%) and asthenia (10%).

About Liposarcoma

Liposarcoma is a rare type of cancer that occurs in the fat cells in the body, most often in the muscles of the limbs or abdomen. Dedifferentiated liposarcoma is a high grade type of liposarcoma that grows more aggressively than a low grade, well differentiated liposarcoma and is associated with poorer prognosis.¹ Liposarcoma accounts for approximately 20% of all soft tissue sarcomas.² In liposarcoma, the risk of recurrence and metastasis increases with higher grade disease.³

About XPOVIO® (selinexor)

XPOVIO is a first-in-class, oral Selective Inhibitor of Nuclear Export (SINE) compound. XPOVIO functions by selectively binding to and inhibiting the nuclear export protein exportin 1 (XPO1, also called CRM1). XPOVIO blocks the nuclear export of tumor suppressor, growth regulatory and anti-inflammatory proteins, leading to accumulation of these proteins in the nucleus and enhancing their anti-cancer activity in the cell. The forced nuclear retention of these proteins can counteract a multitude of the oncogenic pathways that, unchecked, allow cancer cells with severe DNA damage to continue to grow and divide in an unrestrained fashion. The safety and efficacy of selinexor for use in in patients with DDLPS has not been established; selinexor has not been approved for this use by the U.S. Food and Drug Administration (FDA) or any other regulatory agency. Karyopharm received accelerated approval of XPOVIO in July 2019 in combination with dexamethasone for the treatment of adult patients with relapsed or refractory multiple myeloma who have received at least four prior therapies and whose disease is refractory to at least two proteasome inhibitors, at least two immunomodulatory agents, and an anti-CD38 monoclonal antibody. NEXPOVIO® (selinexor) has also been granted conditional marketing authorization in combination with dexamethasone for adult patients with heavily pretreated multiple myeloma by the European Commission. Karyopharm’s supplemental New Drug Application requesting an expansion of its indication to include the treatment for patients with multiple myeloma after at least one prior therapy was approved by the FDA on December 18, 2020. In June 2020, Karyopharm received accelerated FDA approval of XPOVIO for its second indication in adult patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL), not otherwise specified, including DLBCL arising from follicular lymphoma, after at least 2 lines of systemic therapy. Selinexor is also being evaluated in several other mid-and later-phase clinical trials across multiple cancer indications, including as a potential backbone therapy in combination with approved myeloma therapies (STOMP), in endometrial cancer (SIENDO), among others. Additional Phase 1, Phase 2 and Phase 3 studies are ongoing or currently planned, including multiple studies in combination with approved therapies in a variety of tumor types to further inform Karyopharm’s clinical development priorities for selinexor. Additional clinical trial information for selinexor is available at www.clinicaltrials.gov.

For more information about Karyopharm’s products or clinical trials, please contact the Medical Information department at:

Tel: +1 (888) 209-9326
Email: [email protected]

XPOVIO^® (selinexor) is a prescription medicine approved:

• In combination with bortezomib and dexamethasone for the treatment of adult patients with multiple myeloma who have received at least one prior therapy (XVd).
• In combination with dexamethasone for the treatment of adult patients with relapsed or refractory multiple myeloma who have received at least four prior therapies and whose disease is refractory to at least two proteasome inhibitors, at least two immunomodulatory agents, and an anti–CD38 monoclonal antibody (Xd).
• For the treatment of adult patients with relapsed or refractory diffuse large B–cell lymphoma (DLBCL), not otherwise specified, including DLBCL arising from follicular lymphoma, after at least 2 lines of systemic therapy. This indication is approved under accelerated approval based on response rate. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trial(s).

SELECT IMPORTANT SAFETY INFORMATION

Warnings and Precautions

• Thrombocytopenia: Monitor platelet counts throughout treatment. Manage with dose interruption and/or reduction and supportive care.
• Neutropenia: Monitor neutrophil counts throughout treatment. Manage with dose interruption and/or reduction and granulocyte colony–stimulating factors.
• Gastrointestinal Toxicity: Nausea, vomiting, diarrhea, anorexia, and weight loss may occur. Provide antiemetic prophylaxis. Manage with dose interruption and/or reduction, antiemetics, and supportive care.
• Hyponatremia: Monitor serum sodium levels throughout treatment. Correct for concurrent hyperglycemia and high serum paraprotein levels. Manage with dose interruption, reduction, or discontinuation, and supportive care.
• Serious Infection: Monitor for infection and treat promptly.
• Neurological Toxicity: Advise patients to refrain from driving and engaging in hazardous occupations or activities until neurological toxicity resolves. Optimize hydration status and concomitant medications to avoid dizziness or mental status changes.
• Embryo–Fetal Toxicity: Can cause fetal harm. Advise females of reproductive potential and males with a female partner of reproductive potential, of the potential risk to a fetus and use of effective contraception.
• Cataract: Cataracts may develop or progress. Treatment of cataracts usually requires surgical removal of the cataract.

Adverse Reactions

• The most common adverse reactions (≥20%) in patients with multiple myeloma who receive XVd are fatigue, nausea, decreased appetite, diarrhea, peripheral neuropathy, upper respiratory tract infection, decreased weight, cataract and vomiting. Grade 3–4 laboratory abnormalities (≥10%) are thrombocytopenia, lymphopenia, hypophosphatemia, anemia, hyponatremia and neutropenia. In the BOSTON trial, fatal adverse reactions occurred in 6% of patients within 30 days of last treatment. Serious adverse reactions occurred in 52% of patients. Treatment discontinuation rate due to adverse reactions was 19%.
• The most common adverse reactions (≥20%) in patients with multiple myeloma who receive Xd are thrombocytopenia, fatigue, nausea, anemia, decreased appetite, decreased weight, diarrhea, vomiting, hyponatremia, neutropenia, leukopenia, constipation, dyspnea and upper respiratory tract infection. In the STORM trial, fatal adverse reactions occurred in 9% of patients. Serious adverse reactions occurred in 58% of patients. Treatment discontinuation rate due to adverse reactions was 27%.
• The most common adverse reactions (incidence ≥20%) in patients with DLBCL, excluding laboratory abnormalities, are fatigue, nausea, diarrhea, appetite decrease, weight decrease, constipation, vomiting, and pyrexia. Grade 3–4 laboratory abnormalities (≥15%) are thrombocytopenia, lymphopenia, neutropenia, anemia, and hyponatremia. In the SADAL trial, fatal adverse reactions occurred in 3.7% of patients within 30 days, and 5% of patients within 60 days of last treatment; the most frequent fatal adverse reactions was infection (4.5% of patients). Serious adverse reactions occurred in 46% of patients; the most frequent serious adverse reaction was infection(21% of patients). Discontinuation due to adverse reactions occurred in 17% of patients.

Use In Specific
Populations
Lactation: Advise not to breastfeed.

For additional product information, including full prescribing information, please visit www.XPOVIO.com.

To report SUSPECTED ADVERSE REACTIONS, contact Karyopharm Therapeutics Inc. at 1–888–209–9326 or FDA at 1–800–FDA–1088 or www.fda.gov/medwatch.
 

About Karyopharm Therapeutics

Karyopharm Therapeutics Inc. (Nasdaq: KPTI) is a commercial-stage pharmaceutical company pioneering novel cancer therapies and dedicated to the discovery, development, and commercialization of first-in-class drugs directed against nuclear export for the treatment of cancer and other diseases. Karyopharm’s Selective Inhibitor of Nuclear Export (SINE) compounds function by binding with and inhibiting the nuclear export protein XPO1 (or CRM1). Karyopharm’s lead compound, XPOVIO® (selinexor), is approved in the U.S. in multiple hematologic malignancy indications, including in combination with Velcade® (bortezomib) and dexamethasone for the treatment of adult patients with multiple myeloma after at least one prior therapy, in combination with dexamethasone for the treatment of adult patients with heavily pretreated multiple myeloma and as a monotherapy for the treatment of patients with relapsed or refractory diffuse large B-cell lymphoma. NEXPOVIO® (selinexor) has also been granted conditional marketing authorization for adult patients with heavily pretreated multiple myeloma by the European Commission. In addition to single-agent and combination activity against a variety of human cancers, SINE compounds have also shown biological activity in models of neurodegeneration, inflammation, autoimmune disease, certain viruses and wound-healing. Karyopharm has several investigational programs in clinical or preclinical development. For more information, please visit www.karyopharm.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those regarding Karyopharm’s expectations and plans relating to XPOVIO for the treatment of patients with advanced unresectable dedifferentiated liposarcoma; the expected design of the Company’s clinical trials; and the therapeutic potential of and potential clinical development plans for Karyopharm’s drug candidates, especially selinexor. Such statements are subject to numerous important factors, risks and uncertainties, many of which are beyond Karyopharm’s control, that may cause actual events or results to differ materially from Karyopharm’s current expectations. For example, there can be no guarantee that Karyopharm will successfully commercialize XPOVIO/NEXPOVIO; that regulators will grant confirmatory authorization in the European Union based on the BOSTON study in adult patients with multiple myeloma; or that any of Karyopharm’s drug candidates, including selinexor, will successfully complete necessary clinical development phases or that development of any of Karyopharm’s drug candidates will continue. Further, there can be no guarantee that any positive developments in the development or commercialization of Karyopharm’s drug candidate portfolio will result in stock price appreciation. Management’s expectations and, therefore, any forward-looking statements in this press release could also be affected by risks and uncertainties relating to a number of other factors, including the following: the risk that the COVID-19 pandemic could disrupt Karyopharm’s business more severely than it currently anticipates, including by negatively impacting sales of XPOVIO/NEXPOVIO, interrupting or delaying research and development efforts, impacting the ability to procure sufficient supply for the development and commercialization of selinexor or other product candidates, delaying ongoing or planned clinical trials, impeding the execution of business plans, planned regulatory milestones and timelines, or inconveniencing patients; the adoption of XPOVIO/NEXPOVIO in the commercial marketplace, the timing and costs involved in commercializing XPOVIO/NEXPOVIO or any of Karyopharm’s drug candidates that receive regulatory authorization; the ability to obtain and retain regulatory authorization of XPOVIO/NEXPOVIO or any of Karyopharm’s drug candidates that receive regulatory authorization; Karyopharm’s results of clinical trials and preclinical studies, including subsequent analysis of existing data and new data received from ongoing and future studies; the content and timing of decisions made by the U.S. Food and Drug Administration and other regulatory authorities, investigational review boards at clinical trial sites and publication review bodies, including with respect to the need for additional clinical studies; the ability of Karyopharm or its third party collaborators or successors in interest to fully perform their respective obligations under the applicable agreement and the potential future financial implications of such agreement; Karyopharm’s ability to enroll patients in its clinical trials; unplanned cash requirements and expenditures; development or regulatory authorization of drug candidates by Karyopharm’s competitors for products or product candidates in which Karyopharm is currently commercializing or developing; and Karyopharm’s ability to obtain, maintain and enforce patent and other intellectual property protection for any product or product candidate. These and other risks are described under the caption “Risk Factors” in Karyopharm’s Annual Report on Form 10-K for the year ended December 31, 2020, which was filed with the Securities and Exchange Commission (SEC) on February 24, 2021, and in other filings that Karyopharm may make with the SEC in the future. Any forward-looking statements contained in this press release speak only as of the date hereof, and, except as required by law, Karyopharm expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

XPOVIO® and NEXPOVIO® are registered trademarks of Karyopharm Therapeutics Inc. Velcade® is a registered trademark of Takeda Pharmaceutical Company Limited.

References

¹Livingston, J.A., et al. Role of chemotherapy in dedifferentiated liposarcoma of the retroperitoneum: defining the benefit and challenges of the standard. Sci Rep 7, 11836 (2017).
https://doi.org/10.1038/s41598-017-12132-w 
² https://pubmed.ncbi.nlm.nih.gov/25115417/ 
³ http://sarcomahelp.org/liposarcoma.html

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SOURCE Karyopharm Therapeutics Inc.

SHANGHAI, April 19, 2021 /PRNewswire/ — Today at Auto Shanghai, Dana Incorporated (NYSE: DAN) announced the expansion of the company’s comprehensive support for sustainability initiatives in China. These measures align with the carbon neutrality targets in China’s 14th Five-Year Plan by adding new technologies and engineering capabilities for vehicle manufacturers while bolstering Dana’s internal measures to be more environmentally responsible.

Celebrating its 30th anniversary in mainland China this year, Dana offers a wide and growing portfolio of e-Drive technologies and systems, as well as thermal-management solutions that help Chinese original-equipment manufacturers improve the performance of new energy vehicles.

Additionally, Dana has made a substantial and global commitment to improving its sustainability profile through a series of initiatives that will reduce its total annual greenhouse gas emissions by at least 50 percent before the end of 2035, a decrease of more than 300,000 metric tons of greenhouse gas emissions annually.

“With its provisions for reducing energy and carbon dioxide intensity, China’s recently approved 14th Five-Year Plan will drive deeper sustainability improvements and further extend the country’s leadership in vehicle electrification,” said Marcus King, country leader for Dana’s operations in China. “Dana is prepared to support Chinese vehicle manufacturers today with advanced drive technologies and thermal-management solutions that support electrified light vehicles, backed by an aggressive commitment to dramatically improve the sustainability footprint of our operations here, as well.”

Advanced, Integrated Capabilities for Chinese Vehicle Manufacturers
Dana’s execution of its enterprise strategy has established the company as a global leader in vehicle electrification, propelled by an increased investment in resources to support the global shift toward electrification. Since 2017, Dana has made numerous investments in technologies and expertise to bolster its electrodynamic portfolio worldwide, including China.

Today, the company has a wide breadth of offerings, including motors, inverters, controls and software, as well as thermal-management products for batteries and power electronics. Dana is able to deliver fully integrated electric drive systems for a broad range of vehicle applications.

Last month, Dana completed the acquisition of Pi Innovo LLC, a leader in embedded software solutions and electronic control units that supports the light vehicle, commercial vehicle, and off-highway markets. Pi Innovo provides capabilities that enable Dana to provide vehicle manufacturers with a strong library of turn-key electric vehicle application software, vehicle level controllers, and auxiliary controllers.

Dana has also expanded its thermal-management and sealing capabilities for Chinese new-energy vehicles. The company has begun supplying two-sided insulated-gate bipolar transistor (IGBT) coolers for electric vehicles in production in China. This technology enhances the heat transfer of power inverter devices through its extraordinarily flat, exceptionally clean, and flux-free qualities. 

Dana is currently field-testing prototypes of single-sided, self-contained IGBT cooling solutions with customers. This design delivers high-performing heat transfer capabilities for specific applications, resulting in up to a 10 percent increase in power over competitive offerings.

Dana and its advanced thermal-management solutions have been recognized by numerous prestigious associations in China. Dana has received six awards from the China Decision Makers Consultancy (CDMC), including Outstanding Thermal Management Solutions Supplier of the Year, Outstanding Power Electronics Solutions Provider, and Best Battery Solution Provider.

Also, Dana’s IGBT cooling solutions received an Automotive Innovation Technology Award during the 11th International Automotive Congress in Shanghai.

Company Initiatives for Improving Sustainability
Globally, Dana is currently sourcing renewable energy through solar arrays at several locations and will be implementing further use of renewable energy, such as wind or solar, to utilize clean energy sources to reduce GHG emissions. The company is also pursuing initiatives that reduce the use of water in its operations through advanced water-treatment technologies and water-recycling processes.

Reinforcing Dana’s strategic and company-wide commitment, the Board of Directors in 2020 established a Technology and Sustainability Committee to provide support for innovation, new technologies, and sustainability and social responsibility.

“We have been successful in our sustainability initiatives by taking a balanced approach that considers the people we encounter, the products we develop, and the planet that enables us to do our work,” said Antonio Valencia, Dana’s president of Power Technologies (PT) and Global Electrification. “In the same way that China is a global leader in sustainability, the robust corporate social responsibility measures at our facilities in China are setting high standards for Dana’s operations worldwide.”

Visit Dana at Auto Shanghai 2021
Dana is exhibiting its latest drive technologies and thermal-management solutions for electric and other new energy vehicles at Auto Shanghai in hall 2.2H, stand 6BF111 at the National Exhibition and Convention Center.

About Dana Incorporated

Dana is a leader in the design and manufacture of highly efficient propulsion and energy-management solutions for all mobility markets across the globe. The company’s conventional and clean-energy solutions support nearly every vehicle manufacturer with drive and motion systems; electrodynamic technologies, including software and controls; and thermal, sealing, and digital solutions.

Based in Maumee, Ohio, USA, the company reported sales of $7.1 billion in 2020 with 38,000 associates in 33 countries across six continents.  Founded in 1904, Dana was named one of “America’s Most Responsible Companies 2021” by Newsweek for its emphasis on sustainability and social responsibility. The company is driven by a high-performance culture that focuses on its people, which has earned it global recognition as a top employer, including “World’s Best Employer” from Forbes magazine.  Learn more at dana.com.

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SOURCE Dana Incorporated

ZEELAND, Mich. and EAST GREENVILLE, Pa., April 19, 2021 /PRNewswire/ — Herman Miller, Inc. (NASDAQ: MLHR) and Knoll Inc. (NYSE: KNL) today announced that they have entered into a definitive agreement under which Herman Miller will acquire Knoll in a cash and stock transaction valued at $1.8 billion. The transaction, which has been unanimously approved by the Boards of Directors of both companies, is expected to close by the end of the third quarter of calendar year 2021, subject to the satisfaction of closing conditions. 

Under the terms of the agreement, Knoll shareholders will receive $11.00 in cash and 0.32 shares of Herman Miller common stock for each share of Knoll common stock they own. Based on Herman Miller’s five-day volume weighted average price of $43.94 per share, the transaction terms imply a purchase price of $25.06 per share, representing a 45% premium to Knoll’s closing share price on April 16, 2021. Upon completion of the transaction, Herman Miller shareholders will own approximately 78% of the combined company and Knoll shareholders will own approximately 22%.

In connection with the closing of the transaction, Herman Miller will purchase all of the outstanding shares of Knoll’s preferred stock from Investindustrial VII L.P. (“Investindustrial”) for a fixed cash consideration of $253 million, representing an equivalent price of $25.06 for each underlying share of Knoll common stock. Investindustrial has entered into a voting agreement to vote in favor of the transaction at the special meeting of Knoll shareholders to be held in connection with the transaction.

This highly complementary combination will create the preeminent leader in modern design, catalyzing the transformation of the home and office sectors at a time of unprecedented disruption. Herman Miller and Knoll collectively have 19 leading brands, presence across over 100 countries worldwide, a global dealer network, 64 showrooms globally, more than 50 physical retail locations and global multi-channel eCommerce capabilities. The combined company will have pro forma annual revenue of approximately $3.6 billion and pro forma adjusted EBITDA of approximately $552 million, based on each company’s respective last reported 12 months and including the anticipated $100 million of cost synergies, implying adjusted EBITDA margins of approximately 16%.

“This transaction brings together two pioneering icons of design with strong businesses, attractive portfolios and long histories of innovation,” said Andi Owen, President and Chief Executive Officer of Herman Miller. “As distributed working models become the new normal for companies, businesses are reimagining the office to foster collaboration, culture and focused work, while supporting a growing remote employee base. At the same time, consumers are making significant investments in their homes. With a broad portfolio, global footprint and advanced digital capabilities, we will be poised to meet our customers everywhere they live and work. Together, we will offer a deep portfolio of brands, technology, talent and innovation, to create meaningful growth opportunities in all areas of the combined business.”

“This combination validates the strategic direction and our success in building a preeminent constellation of design-driven brands and leaders, and is a testament to the achievements of the entire Knoll team in bringing a contemporary perspective to how we work and live,” said Andrew Cogan, Knoll Chairman and Chief Executive Officer. “We believe this combination offers significant benefits to our shareholders, clients, dealers and associates. Our shareholders will receive immediate and certain value, as well as future upside potential through ownership in an industry leader with significant growth opportunities. Our clients, the design community and dealers will have access to an expanded, exceptional portfolio of brands through enhanced channels. And our associates will benefit as part of a larger and more diversified company with a shared design legacy.”

Ms. Owen added, “In addition to driving value for Herman Miller and Knoll shareholders, dealers and customers will benefit from a broader combined portfolio that will deliver beauty, joy, efficiency and utility. The transaction will also create enhanced opportunities for employees across both organizations. Herman Miller and Knoll both have cultures guided by values that support problem-solving design, and doing well by doing good, and these shared beliefs will contribute to a smooth integration.”

Compelling Strategic and Financial Benefits

• Pairs two industry pioneers to catalyze the transformation of the home and office at a time of unprecedented disruption. As powerful trends reshape our lives – including distributed work, a greater focus on the home, digital disruption, the rise of DTC business models and a focus on sustainability, the health and well-being of employees, communities and the planet – the combined company will be well positioned to lead the industry in redefining home and office design solutions.
• Combines two highly complementary businesses to create a broader product portfolio. The transaction unites two exceptional portfolios of complementary brands, each with its own design legacy that places them at the epicenter of modern furnishings, and more broadly, modern design.
• Enhances scale and capabilities to drive growth and profitability. The combined company will have a scaled U.S. and international footprint to facilitate growth of the combined portfolio through Herman Miller’s and Knoll’s well-established distribution channels. Together, Herman Miller and Knoll will have increased reach and the ability to better serve customers across the contract furnishings sector, residential trade segment and retail audience. In addition, the transaction will enhance engagement with architects and interior designers, who support the decision-making for both Contract and Residential customers.
• Accelerates digital and technology transformation.
  Herman Miller’s digital transformation in both the Retail and Contract channels provides a strong foundation for the combined company to scale existing investments in both new and expanded digital capabilities. These investments will enable the combined company to further accelerate progress, ensuring it meets the highest level of manufacturing excellence, customer sales and service, and user experience.
• Brings together common cultures and capabilities, with a shared commitment to social responsibility.
  Herman Miller and Knoll have a long history and shared cultures and commitment to design, innovation, operational excellence, sustainability and social good. The transaction will ensure that the combined company continues to deliver the highest quality products to customers while further reinforcing Herman Miller’s and Knoll’s shared focus on building more sustainable, diverse and inclusive enterprises.
• Delivers significant financial benefits. The transaction is expected to generate $100 million of run-rate cost synergies within two years of closing, driven primarily by SG&A, supply chain, procurement and logistics savings. Bringing together Herman Miller and Knoll is also expected to generate significant revenue synergies across the combined business through enhanced scale, cross-selling, and digital and eCommerce opportunities. The transaction is expected to be accretive to Herman Miller’s adjusted cash earnings per share in the first 12 months following the close of the transaction.

Following the close of the transaction, Ms. Owen will serve as President and Chief Executive Officer of the combined company. Mr. Cogan plans to depart the combined company upon closing of the transaction after a successful 30-year career with Knoll, during which time Knoll received the National Design Award for Corporate and Institutional Achievement from the Smithsonian’s Cooper-Hewitt, National Design Museum. 

Commenting on Mr. Cogan’s leadership, Ms. Owen concluded, “I want to thank Andrew for his partnership in reaching this agreement and recognize his outstanding dedication to Knoll during its many years of success. Knoll thrives today as a result of Andrew’s dedication to its founders’ commitment to good design. In the process, he has built an organization and brand portfolio dedicated to design leadership, operational excellence, digital innovation and customer experience, building on the storied Knoll heritage and pioneering the development of groundbreaking products. We look forward to welcoming Knoll’s incredibly talented team.”

Approvals, Financing and Timing to Close

The transaction, which is expected to close by the end of the third quarter of calendar year 2021, is subject to approval by Herman Miller and Knoll shareholders, the receipt of required regulatory approvals and the satisfaction of other customary closing conditions.

The transaction is not conditioned on financing. Herman Miller expects to fund the cash portion of the transaction consideration with a combination of new debt and cash on hand. Herman Miller has obtained a commitment from Goldman Sachs for $1.75¹ billion of senior secured revolving and term loan credit facilities, subject to customary conditions.

Advisors

Goldman Sachs & Co. LLC is serving as financial advisor to Herman Miller and Wachtell, Lipton, Rosen & Katz is serving as legal advisor. BofA Securities is serving as financial advisor to Knoll and Sullivan & Cromwell is serving as legal advisor.

Conference Call, Webcast and Presentation

Herman Miller and Knoll will host a conference call and webcast today at 8:30 a.m. ET to discuss the transaction. The webcast and accompanying slides can be accessed on the internet in the investor relations section of either www.hermanmiller.com or www.knoll.com. The live call is also available by dialing (877) 524-8416 within the U.S. and (412) 902-1028 for international callers. A replay of the conference call will be available on both companies’ investor relations websites following the call.

Transaction Website

Additional information on the transaction and related materials can be found on a joint transaction website at www.NewLeaderInModernDesign.com.

About Herman Miller

Herman Miller is a globally recognized leader in design. Since its inception in 1905, the company’s innovative, problem-solving designs and furnishings have inspired the best in people wherever they live, work, learn, heal, and play. In 2018, Herman Miller created Herman Miller Group, a purposefully selected, complementary family of brands that includes Colebrook Bosson Saunders, Design Within Reach, Geiger, HAY, Maars Living Walls, Maharam, and naughtone. Guided by a shared purpose—design for the good of humankind—Herman Miller Group shapes places that matter for customers while contributing to a more equitable and sustainable future for all. For more information visit www.hermanmiller.com/about-us. 

About Knoll

Knoll, Inc. is a constellation of design-driven brands and people, working together with our clients in person and digitally to create inspired modern interiors. Our internationally recognized portfolio includes furniture, textiles, leathers, accessories, and architectural and acoustical elements. Our brands — Knoll Office, KnollStudio, KnollTextiles, KnollExtra, Spinneybeck | FilzFelt, Edelman Leather, HOLLY HUNT, DatesWeiser, Muuto, and Fully — reflect our commitment to modern design that meets the diverse requirements of high performance workplaces, work from home settings and luxury residential interiors. A recipient of the National Design Award for Corporate and Institutional Achievement from the Smithsonian`s Cooper-Hewitt, National Design Museum, Knoll, Inc. is aligned with the U.S. Green Building Council and the Canadian Green Building Council and can help organizations achieve the Leadership in Energy and Environmental Design (LEED) workplace certification. Our products can also help clients comply with the International Living Future Institute to achieve Living Building Challenge Certification, and with the International WELL Building Institute to attain WELL Building Certification. Knoll, Inc. is the founding sponsor of the World Monuments Fund Modernism at Risk program.

Forward-Looking Statements

This press release relates to a proposed business combination transaction between Herman Miller, Inc. (the “Company”) and Knoll, Inc. (“Knoll”). This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements relate to future events and anticipated results of operations, business strategies, the anticipated benefits of the proposed transaction, the anticipated impact of the proposed transaction on the combined company’s business and future financial and operating results, the expected amount and timing of synergies from the proposed transaction, the anticipated closing date for the proposed transaction and other aspects of our operations or operating results. These forward-looking statements generally can be identified by phrases such as “will,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates” or other words or phrases of similar import. It is uncertain whether any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what impact they will have on the results of operations and financial condition of the combined companies or the price of the Company’s or Knoll’s stock. These forward-looking statements involve certain risks and uncertainties, many of which are beyond the parties’ control, that could cause actual results to differ materially from those indicated in such forward-looking statements, including but not limited to: the impact of public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets; the effect of the announcement of the merger on the ability of the Company or Knoll to retain and hire key personnel and maintain relationships with customers, suppliers and others with whom the Company or Knoll does business, or on the Company’s or Knoll’s operating results and business generally; risks that the merger disrupts current plans and operations and the potential difficulties in employee retention as a result of the merger; the outcome of any legal proceedings related to the merger; the ability of the parties to consummate the proposed transaction on a timely basis or at all; the satisfaction of the conditions precedent to consummation of the proposed transaction, including the ability to secure regulatory approvals on the terms expected, at all or in a timely manner; the ability of the Company to successfully integrate Knoll’s operations; the ability of the Company to implement its plans, forecasts and other expectations with respect to the Company’s business after the completion of the transaction and realize expected synergies; business disruption following the merger; general economic conditions; the availability and pricing of raw materials; the financial strength of our dealers and the financial strength of our customers; the success of newly-introduced products; the pace and level of government procurement; and the outcome of pending litigation or governmental audits or investigations. These risks, as well as other risks related to the proposed transaction, will be included in the registration statement on Form S-4 and joint proxy statement/prospectus that will be filed with the Securities and Exchange Commission (the “SEC”) in connection with the proposed transaction. While the risks presented here, and those to be presented in the registration statement on Form S-4, are considered representative, they should not be considered a complete statement of all potential risks and uncertainties. For additional information about other factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to the Company’s and Knoll’s respective periodic reports and other filings with the SEC, including the risk factors identified in the Company’s and Knoll’s most recent Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. The forward-looking statements included in this press release are made only as of the date hereof. Neither the Company nor Knoll undertakes any obligation to update any forward-looking statements to reflect subsequent events or circumstances, except as required by law.

No Offer or Solicitation

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

Additional Information About the Merger and Where to Find It

In connection with the proposed transaction, the Company intends to file with the SEC a registration statement on Form S-4 that will include a joint proxy statement of the Company and Knoll and that also constitutes a prospectus of the Company. Each of the Company and Knoll may also file other relevant documents with the SEC regarding the proposed transaction. This document is not a substitute for the proxy statement/prospectus or registration statement or any other document that the Company or Knoll may file with the SEC. The definitive joint proxy statement/prospectus (if and when available) will be mailed to stockholders of the Company and Knoll. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, JOINT PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain free copies of the registration statement and joint proxy statement/prospectus (if and when available) and other documents containing important information about the Company, Knoll and the proposed transaction, once such documents are filed with the SEC through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by the Company will be available free of charge on the Company’s website at https://investors.hermanmiller.com/sec-filings or by contacting the Company’s Investor Relations department at [email protected]. Copies of the documents filed with the SEC by Knoll will be available free of charge on Knoll’s website at https://knoll.gcs-web.com/sec-filingsor by contacting Knoll’s Investor Relations department at [email protected].

Participants in the Solicitation

The Company, Knoll and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information about the directors and executive officers of the Company, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in the Company’s proxy statement for its 2020 Annual Meeting of Stockholders, which was filed with the SEC on September 1, 2020, and the Company’s Annual Report on Form 10-K for the fiscal year ended May 30, 2020, which was filed with the SEC on July 28, 2020, as well as in a Form 8-K filed by the Company with the SEC on July 17, 2020. Information about the directors and executive officers of Knoll, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in Knoll’s proxy statement for its 2021 Annual Meeting of Stockholders, which was filed with the SEC on April 1, 2021, and Knoll’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on March 1, 2021. Other information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the proposed transaction when such materials become available. Investors should read the joint proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the Company or Knoll using the sources indicated above.

Contacts

Herman Miller

Investors:

Jeff Stutz

Chief Financial Officer
616 654-8538
[email protected]

Kevin Veltman

VP of Investor Relations & Treasurer
616 654-3973
[email protected]

Media:

Todd Woodward

[email protected]

616 654-5977

Knoll

Investors:

Charles Rayfield 
Senior Vice President and Chief Financial Officer
215 679-1703
[email protected]

Media:

David E. Bright

Senior Vice President, Communications
212 343-4135
[email protected]

¹ Includes $1.25 billion of term loan facilities and a $0.5 billion revolving credit facility expected to be undrawn at close.

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SOURCE Herman Miller, Inc.; Knoll, Inc.

 

 

TEL AVIV, Israel and HOUSTON, April 19, 2021 /PRNewswire/ — Arbe, a global leader in next-generation 4D Imaging Radar Solutions, today announced that AutoX has chosen its 4D Imaging Radar Platform for their Level 4 autonomous vehicles, RoboTaxis, as well as other autonomous driving projects. Arbe recently revealed plans to go public through a SPAC merger with Industrial Tech Acquisitions, Inc (NASDAQ: ITAC) at equity value of approximately $723M, mergerconditions discussed below.

Over the next five years, AutoX is expected to integrate 400,000 Arbe-based ultra-high resolution radar systems in their Level 4 fleet. Multiple radar units will be included as an integral component of the sensor suite for safety application development, AI-based perception algorithms, and sensor fusion.  

“We are pleased to be working with AutoX – the leading RoboTaxi player in China and one of the most innovative automotive companies in the world as demonstrated by the fact that they were granted a permit in California to begin driverless testing – to achieve high standards of safety and performance at an ambitious pace,” says Kobi Marenko, CEO of Arbe. “AutoX has continuously proven to be a leader in the China market, taking the first steps in autonomous vehicle advancement. Our partnership is another testimony to the company’s forward-thinking nature.”

AutoX chose to partner with Arbe because their platform enables advanced safety and sensor performance at an attractive price point. As part of the agreement, Arbe will provide AutoX with the entire Arbe Imaging Radar platform, which enables an image 100 times more detailed than any radar on the market, via a proprietary technology with 2K resolution, the highest channel count in the industry.

“We are excited to integrate Arbe’s technology in our Level 4 RoboTaxi fleet and are confident that their radar solution will greatly enhance the safety of our vehicles,” says David Liu, senior perception engineer at AutoX. “Arbe provides the most advanced 4D radar solution on the market. We will be able to leverage the high resolution and advanced processing power with low latency of Arbe’s product for our RoboTaxis operating in China, home to some of the world’s most challenging and dense urban scenarios.”

Arbe is revolutionizing radar by bridging the sensor gap and addressing the core issues that have caused recent autonomous vehicle and autopilot accidents such as detecting stationary objects, identifying vulnerable road users, and eliminating false alarms without radar ambiguities. Arbe’s 4D imaging radar is a unique platform that provides ultra-high resolution in any weather or lighting condition.

“The Arbe-AutoX partnership will transform the level of safety for L4 vehicles, elevating the standards of safety and leading the path for the entire industry,” says Roman Levi, VP of Sales and General Manager of Arbe APAC.

About Arbe

Arbe, a global leader in next-generation 4D Imaging Radar Chipset Solutions, is spearheading a radar revolution, enabling truly safe driver-assist systems today while paving the way to full autonomous-driving. Empowering automakers, tier-1 automotive suppliers, autonomous ground vehicles, commercial and industrial vehicles, and a wide array of safety applications with advanced sensing and paradigm-changing perception. Arbe’s imaging radar is 100 times more detailed than any other radar on the market and is a mandatory sensor for L2+ and higher autonomy. Arbe is expected to list on the Nasdaq stock market following a business combination with Industrial Tech Acquisitions (NASDAQ: ITAC).  Arbe is a leader in the fast-growing automotive radar market that has an estimated total addressable market of $11 billion in 2025. Arbe is based in Tel Aviv, Israel, and has offices in the United States.

On March 18, Arbe announced that it had entered into, among other things, a definitive business combination agreement with Industrial Tech Acquisitions, Inc. (NASDAQ: ITAC), a publicly-traded special purpose acquisition company (“ITAC”). Subject to the satisfaction of the terms and conditions set forth in the business combination agreement, upon closing of the transactions, the combined company will operate under the “Arbe Robotics Ltd.” name and is expected to be listed on Nasdaq under the new ticker symbol “ARBE”.

About AutoX

AutoX is a leading RoboTaxi player for the China market, with the mission of ‘Democratizing Autonomy’ to provide universal access to transportation of people and goods. It was founded in 2016 by Dr. Jianxiong Xiao (a.k.a. Professor X), a self-driving technologist from MIT and Princeton University. The company’s AutoX Driver platform is capable of handling the densest and most dynamic traffic conditions in urban cities around the world. In the city of Shenzhen, AutoX has deployed the world’s second, and China’s first and only fully driverless RoboTaxi service to the public. AutoX has deployed more than 100 RoboTaxis in the most populated cities, including Shanghai, Shenzhen, and Wuhan. AutoX is the second permit holder for California DMV’s completely driverless RoboTaxi permit. Headquartered in Shenzhen, AutoX has eight offices and five R&D centers globally.

About
 Industrial Tech Acquisitions, Inc (“ITAC”)

ITAC is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. ITAC is sponsored by Texas Ventures, a leading technology and venture capital firm with expertise in capital markets and structured finance. The firm provides guidance, insight and capital to assist entrepreneurs and managers who have the desire and talent to build exceptional companies. The Texas Ventures’ approach is to identify emerging trends and opportunities prior to recognition by the broader marketplace, and to take a proactive approach in working with entrepreneurs and managers who have the determination to build world-class companies

Important
 Notice Regarding Forward-Looking Statements 

This press release contains certain “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about Arbe and AutoX and the transactions contemplated hereunder, and the parties’ perspectives and expectations, are forward looking statements. Such statements include, but are not limited to, statements regarding the proposed partnership between Arbe and AutoX, expected growth opportunities for Arbe, anticipated future financial and operating performance and results attributable therefrom, and the expected timing of the implementation of the partnership. The words “expect,” “believe,” “estimate,” “intend,” “plan”, “anticipate”, “project”, “may”, “should”, “potential” and similar expressions indicate forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to various risks and uncertainties, assumptions (including assumptions about general economic, market, industry and operational factors), known or unknown, which could cause the actual results to vary materially from those indicated or anticipated.

Such risks and uncertainties include, but are not limited to, risks related to: (i) the expected timing and likelihood of completion of the transaction contemplated hereunder; (ii) a default by AutoX or Arbe; (iii) the occurrence of any event, change or other circumstances that could give rise to the termination of partnership agreement; (v) costs related to the proposed partnership between AutoX and Arbe; (vi) the occurrence of a material adverse change with respect to the financial position, performance, operations or prospects of  Arbe or AutoX; (vi) the disruption of Arbe management time from ongoing business operations or performance of the units to be sold to AutoX; (vii) changes in applicable laws or regulations, including laws and regulations affecting the market for Arbe’s products; (viii) the possibility that Arbe may be adversely affected by other economic, business, and/or competitive factors, or the continuing effects of the COVID-19 pandemic, the worsening thereof or other future pandemics; (ix) risks related to the matters set forth in the Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies, issued by the Division of Corporate Finance of the SEC on April 12, 2021 and costs related to such matters, and (x) other risks and uncertainties, including those to be identified in the proxy statement/prospectus (when available) relating to the proposed business combination between ITAC and Arbe, including those under “Risk Factors,” “Cautionary Notes Concerning Forward-Looking Statements” and “Arbe Management’s and Analysis of Financial Conditions and Results of Operations” therein, and in other filings with the Securities and Exchange Commission (“SEC”) by ITAC or Arbe. Arbe cautions that the foregoing list of factors is not exclusive. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and Arbe undertake no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

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SOURCE Arbe

Leading innovators driving the future of HPC convergence showcase advanced workload management and acceleration technologies for new time and cost-to-solution gains

TROY, Mich., April 19, 2021 /PRNewswire/ — Altair (Nasdaq: ALTR), a global technology company providing solutions in simulation, high-performance computing (HPC), and artificial intelligence (AI) will hold its Global HPC SummitMay 11-12. This virtual event will feature leading HPC professionals and expert end users from a range of industries, will explore modern HPC workloads, tools, and infrastructures, and highlight recent HPC-driven innovations and enabling technologies.

While software, data, and HPC solutions are converging, the workloads teams must support are more specialized than ever, requiring different tools, throughput demands, and various levels of end-user expertise. The Global HPC Summit will explore how the world’s leading HPC systems are expanding beyond job and CPU scheduling, accounting for all new dimensions like hybrid and cloud resources, GPUs, software and input/output (I/O) performance. HPC leaders will also discuss machine learning (ML) and AI to optimize both time and cost-to-solution.

The event will feature presentations and technical breakout sessions from Altair partners including Intel, Oracle, Google, NVIDIA, and Microsoft. Notable sessions include:

• Exclusive HPC industry briefing from Hyperion Research 
• “On and Off the Track, Every Second Counts, the Critical Role of HPC Optimization,” Aston Martin Cognizant Formula One Team
• “Job Scheduling on NCAR’s Next-generation Supercomputer,” NCAR
• “Driving Efficiency with High-performance Computing,” American Axle
• “AI Takes to the Clouds,” panel presentation

“During the past year, we have made exceptional advancements and investments in technologies to help our customers manage their HPC resources, both on-premises and in the cloud. We believe Altair now offers the industry’s most comprehensive HPC solution set and look forward to highlighting the new ways leading innovators are applying HPC to reach industry firsts and solve important problems faster and more efficiently,” said James R. Scapa, founder and chief executive officer of Altair. “We have seen demand for the optimization of HPC environments increase and expect the trend to continue, and even accelerate, as business operations resume a new normal.”

“We look forward to sharing our perspective of the broader HPC market along with results of a recent study exploring the key dimensions to consider when developing and deploying a successful HPC system,” explained Alex Norton, principal technology analyst and data analysis manager, Hyperion Research.

To learn more and to register for the Global HPC Summit, visit https://web.altair.com/hpc-summit-2021.

About Altair (Nasdaq: ALTR)

Altair is a global technology company that provides software and cloud solutions in the areas of simulation, high-performance computing (HPC), and artificial intelligence (AI). Altair enables organizations across broad industry segments to compete more effectively in a connected world while creating a more sustainable future. To learn more, please visit www.altair.com.

Media Contacts

Corporate/Americas/Asia Pacific

Jennifer Ristic

+1.216.849.3109
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Altair Europe/ The Middle East/Africa

Evelyn Gebhardt

 +49 6421 9684351
[email protected]

Investor Relations

The Blueshirt Group
Monica Gould +1 212.871.3927
Lindsay Savarese – +1 212.331.8417
[email protected] 

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SOURCE Altair