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LAVAL, QC, Feb. 22, 2021 /PRNewswire/ — Bausch Health Companies Inc. (NYSE/TSX: BHC) (“Bausch Health” or the “Company”) today announced it will reduce debt by $100 million through the redemption of outstanding senior secured notes, using cash generated from operations.

“As Bausch Health continues its recovery from the effects of the COVID-19 pandemic, we also remain focused on repaying our debt by generating cash through strong business execution and efficient management of our operations,” said Joseph C. Papa, chairman and CEO, Bausch Health. “This redemption will help reduce our leverage and bring us a step closer to expediting a path forward that unlocks shareholder value, including the spinoff of Bausch + Lomb.”

Bausch Health will redeem $100 million aggregate principal amount of its outstanding 7.00% Senior Secured Notes due 2024, CUSIP Nos. 91911K AK8, C94143 AK7 (the “Notes”) on Mar. 24, 2021. The Company will issue today an irrevocable notice of redemption for the Notes and a copy will be issued to the record holders of such Notes. Nothing contained herein shall constitute a notice of redemption of the Notes. Payment of the redemption price and surrender of the Notes for redemption will be made through the facilities of the Depository Trust Company in accordance with the applicable procedures of the Depository Trust Company. The name and address of the paying agent are as follows: The Bank of New York Mellon; 111 Sanders Creek Parkway, East Syracuse, N.Y. 13057; Attn: Redemption Unit; Tel: 800-254-2826.

About Bausch Health
Bausch Health Companies Inc. (NYSE/TSX: BHC) is a global company whose mission is to improve people’s lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at www.bauschhealth.com.

Caution Regarding Forward-Looking Information and “Safe Harbor” Statement
This news release may contain forward-looking statements, including, but not limited to, the redemption of the Notes. Forward-looking statements may generally be identified by the use of the words “anticipates,” “expects,” “intends,” “plans,” “should,” “could,” “would,” “may,” “will,” “believes,” “estimates,” “potential,” “target,” or “continue” and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in the Company’s most recent annual and quarterly reports and detailed from time to time in the Company’s other filings with the Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a material adverse impact on the Company, including but not limited to its supply chain, third-party suppliers, project development timelines, employee base, liquidity, stock price, financial condition and costs (which may increase) and revenue and margins (both of which may decrease). Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

 

 

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SOURCE Bausch Health Companies Inc.

CAMBRIDGE, Mass., Feb. 22, 2021 /PRNewswire/ — Cogent Biosciences, Inc. (Nasdaq: COGT), a biotechnology company focused on developing precision therapies for genetically defined diseases, today announced the appointment of Todd E. Shegog to its Board of Directors. Todd currently serves as the Chief Financial Officer for Forma Therapeutics and has more than 25 years of financial, operations, corporate strategy, and compliance expertise in the biotechnology and pharmaceutical industries.  

“We are pleased to welcome Todd to Cogent Biosciences’ Board of Directors,” said Andrew Robbins, Chief Executive Officer and President of Cogent Biosciences. “Todd brings a depth of finance experience and expertise to the Board and will be a great addition to our team as we advance our lead program, CGT9486, into new clinical trials for patients with systemic mastocytosis and GIST in 2021.”

Prior to Forma Therapeutics, Todd most recently served as Chief Financial Officer for Synlogic, where he directed the company’s financial strategy and management as well as facilities and information systems. Before Synlogic, Todd served as Senior Vice President and Chief Financial Officer at Forum Pharmaceuticals, where he was responsible for finance, operations, and information systems during their pursuit of innovative therapies for schizophrenia and Alzheimer’s disease. He also served as the Chief Financial Officer of Millennium Pharmaceuticals, Inc., now Takeda Oncology, where he was responsible for management of the company’s financial resources, corporate planning, financial reporting, and compliance.

“I am thrilled to join the Cogent Biosciences Board of Directors as the company advances further into the clinic with CGT9486 in 2021 and beyond,” said Mr. Shegog. “I look forward to partnering with the Cogent Biosciences’ leadership team to provide guidance on the future development of the company and help advance the mission of finding meaningful therapeutic solutions for patients suffering from debilitating genetic diseases.”

Todd earned a Bachelor of Science degree in electrical engineering from Lafayette College and an MBA from the Tepper School of Management at Carnegie Mellon University.

About Cogent Biosciences, Inc. 
Cogent Biosciences is a biotechnology company focused on developing precision therapies for genetically defined diseases. The most advanced clinical program, CGT9486, is a selective tyrosine kinase inhibitor that is designed to potently inhibit the KIT D816V mutation as well as other mutations in KIT exon 17. KIT D816V is responsible for driving systemic mastocytosis, a serious disease caused by unchecked proliferation of mast cells. Exon 17 mutations are also found in patients with advanced gastrointestinal stromal tumors (GIST), a type of cancer with strong dependence on oncogenic KIT signaling. Cogent Biosciences is headquartered in Cambridge, MA. Visit our website for more information at www.cogentbio.com. Follow Cogent Biosciences on social media: Twitter and LinkedIn.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding: discussion of the company’s business and operations; projected cash runways; future product development plans; upcoming results from clinical trials including from its lead program, CGT9486. The use of words such as, but not limited to, “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” and similar words expressions are intended to identify forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, our clinical results and other future conditions. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. We may not actually achieve the forecasts disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Such forward-looking statements are subject to a number of material risks and uncertainties including but not limited to those set forth under the caption “Risk Factors” in Cogent Biosciences’ most recent Annual Report on Form 10-K filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in our subsequent filings with the SEC. Any forward-looking statement speaks only as of the date on which it was made. Neither we, nor our affiliates, advisors or representatives, undertake any obligation to publicly update or revise any forward-looking statement, whether as result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date hereof.

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SOURCE Cogent Biosciences, Inc.

12,000+ items were sold for US$191+ million in the six-day premier global auction on Feb 15 – 20

ORLANDO, Fla., Feb. 22, 2021 /PRNewswire/ – Ritchie Bros.’ February Florida auction is a destination event for equipment buyers and sellers, attracting thousands of people from around the world to the Sunshine State. This year, with COVID-safety its focus and a wealth of technology in its toolkit, Ritchie Bros.’ conducted a hybrid-style event in Orlando, FL—equipment stored onsite with 100% online bidding to ensure safety, while adding new services and data tools to drive buyer demand. The result was a spectacular success, as the company sold more than 12,000 items in six days for US$191+ million, making it the largest-ever 100% online equipment auction.

“Ritchie Bros. continues to innovate and drive unprecedented demand, resulting in strong pricing across every asset category last week in Orlando,” said Ann Fandozzi, Chief Executive Officer, Ritchie Bros. “This continues the positive pricing trend we saw at the end of 2020 and earlier this month in Houston, TX. For last week’s Orlando sale, we saw particularly strong price performance for truck tractors, skid steers, and loader backhoes, followed closely by wheel loaders, aerial equipment, and dozers. Despite the uncertainty in the world, Ritchie Bros. continues to deliver outstanding results thanks to our dedication to customer success, investment in technology, world-class customer services, and a deeply-ingrained innovative spirit.”

The February 15 – 20, 2021 auction attracted 22,700+ online bidders from 80+ countries, setting a new record for the Orlando site. The company also set new records for online page views (2.9+ million and up 18% YOY), watchlist adds (177,000+ and up 54% YOY), and PriorityBids (53,700+ and up 316% YOY).

“Orlando is more than an auction—it’s an event our customers rely on for the success of their businesses and we take this responsibility seriously,” added Ms. Fandozzi. “We introduced new services this year to help customers unable to travel safely to inspect equipment in-person, including thousands of inventory videos, new data tools to help customers better understand market pricing, and scheduled pickups and inspection times. The more informed our customers are, the more confident they will be when bidding.”

While the auction was conducted 100% online, Ritchie Bros.’ Orlando site was still packed with the best selection of equipment anywhere. Two hundred acres and 12,000+ items, including 540+ excavators, 330+ compactors, 280+ skid steer loaders, 230+ wheel loaders, 180 dozers, 740+ aerial work platforms, and 430+ truck tractors.

Specific sales highlights included a 2017 Peterson 5710D crawler horizontal grinder that sold for US$630,000 to an online buyer from Georgia; a 2016 Caterpillar 374FL hydraulic excavator that sold for US$460,000 to an online buyer from Michigan; and a 2012 Kobelco CK1600G 160-ton self-erecting crawler crane that sold for US$435,000 to an online buyer from Florida. If you’re interested in learning more about pricing, Ritchie Bros. posted price performance analysis from Rouse Services at rbassetsolutions.com/Orlando2021.  

Approximately 82 percent of the equipment in the Orlando auction was purchased by U.S. buyers, including 18 percent purchased by Floridians. The remaining 18 percent of the equipment was sold to international buyers from as far away as Australia, Germany, Egypt, and Korea. International sales highlights included a Grove GMK6250L 250-ton all-terrain crane that sold for US$400,000 to a buyer from Trinidad and Tobago and a 2018 Caterpillar D8T dozer that sold for $260,000 to a buyer from Australia.

Ritchie Bros. delivered strong results for more than 1,000 consignors who sold in the Orlando auction, including B&G Equipment and Supply from Alabama and Rock Transport from Indiana.

“We traditionally do well in Orlando and this year didn’t disappoint as we exceeded our expectations by 15 percent,” said Dave Sides, Fleet Coordinator for B&G Equipment Supply. “Ritchie Bros. is a leader in the industry. They attract the largest audience. So, I’m not surprised they continue to deliver great results.”

“We’ve done some smaller auctions with Ritchie Bros. in the past and had success, so we tried a larger package with Orlando this year and achieved substantially more than we expected,” said Bill Meador, President of Rock Transport. “Ritchie Bros. works hard and is extremely transparent—no games, no gimmicks, just results.”

AUCTION QUICK FACTS: ORLANDO, FL (FEBRUARY 2021)

• Gross Transaction Value (GTV): US$191+ million
• Total Registered Bidders: 22,700+
• Total Number of Lots: 12,000+
• Total Number of Consignors: 1,000+

Ritchie Bros. will sell more than 60,000 equipment items and trucks in its upcoming auctions, including a Rocky Mountain Regional Event on March 3 – 4; Phoenix, AZ auction on March 5; and a Fort Worth, TX auction on March 17 – 18. The company also has weekly featured online auctions at IronPlanet.com and a daily reserved option with Marketplace-E.

About Ritchie Bros.:

Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company’s selling channels include: Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The Company’s suite of solutions also includes Ritchie Bros. Asset Solutions and Rouse Services LLC, which together provides a complete end-to-end asset management, data-driven intelligence and performance benchmarking system. Ritchie Bros. also offers sector-specific solutions including GovPlanet, TruckPlanet, and Kruse Energy, plus equipment financing and leasing through Ritchie Bros. FinancialServices. For more information about Ritchie Bros., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media. 

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SOURCE Ritchie Bros.

BLOOMFIELD HILLS, Mich., Feb. 22, 2021 /PRNewswire/ — Agree Realty Corporation (NYSE: ADC) (the “Company”) is pleased to announce that effective today, Simon Leopold has joined the Company as its Chief Financial Officer, Executive Vice President and Secretary. Concurrent with Mr. Leopold’s appointment he has resigned from the Company’s Board of Directors (the “Board”). Mr. Clay Thelen, the Company’s former Chief Financial Officer, has resigned to pursue other opportunities.

Mr. Leopold brings extensive experience in corporate finance, capital markets, investor relations, treasury management, and risk mitigation having previously served as Chief Financial Officer of Taubman Centers, Inc. (“Taubman”). Prior to Taubman, Simon served as managing director in the real estate investment banking groups at Deutsche Bank Securities Inc., Keefe Bruyette & Woods and UBS Securities. 

“I am extremely pleased to welcome Simon to our Leadership Team,” said Joey Agree, President and Chief Executive Officer.  “His many years of REIT experience, industry-wide relationships and leadership prowess will serve to further strengthen our growing Company’s executive ranks. I would also like to thank Clay for his three years of service at our Company. He has been a valued team member and I wish him well in his future endeavors.”

Additionally, the Company is pleased to announce the promotion of Craig Erlich to Chief Operating Officer. Mr. Erlich previously served as Chief Investment Officer of the Company. In his new role, he will assume additional oversight responsibilities including asset management, information technology, business development and marketing.  In connection with the promotion of Mr. Erlich, the Board has appointed Laith Hermiz to the position of Executive Vice President of Real Estate. Mr. Hermiz will be focused on overseeing development, construction, and asset management activities of the Company.

About Agree Realty Corporation

Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants.  As of December 31, 2020, the Company owned and operated a portfolio of 1,129 properties, located in 46 states and containing approximately 22.7 million square feet of gross leasable area.  The Company’s common stock is listed on the New York Stock Exchange under the symbol “ADC”.  For additional information, please visit www.agreerealty.com.   

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SOURCE Agree Realty Corporation

PITTSBURGH, Feb. 22, 2021 /PRNewswire/ — 

/ Key Highlights

• Engineers are using Ansys and Keysight’s improved digital mission engineering (DME) workflow to substantially streamline the design process for creating next-gen applications
• The leading-edge workflow helps engineers accelerate product lifecycles, leverage insights to better decision-making, decrease human error and develop high-fidelity designs

Ansys (NASDAQ: ANSS) and Keysight Technologies, Inc. are working together to integrate component-level designs into mission modeling environments with an enhanced, automated DME workflow. This enables joint customers to eliminate the time-consuming bottleneck of manually coupling design tools for rapidly innovating aerospace and defense applications and soon for 5G communications, autonomous vehicles and electrification. Ansys’ collaboration with Keysight continues a longstanding relationship that began with AGI, before the company was acquired by Ansys last year.

To solve challenging development issues, engineering teams have been forced to manually connect design tools with custom integrations and purpose-built scripting mechanisms. Additionally, engineers face increasingly difficult design hurdles, tasked to achieve more with less resources. Ansys and Keysight’s streamlined, interoperable and cohesive workflow combines best-in-class tools, empowering engineers to accelerate the product lifecycle, harness critical insights to improve decision-making, greatly reduce human error and create advanced, higher fidelity designs.

The cutting-edge automated workflow directly connects AGI’s multi-domain mission analysis software, Systems Tool Kit with Keysight’s high-fidelity RF systems modeling tool, PathWave System Design (SystemVue). This enables engineering teams to seamlessly join mission-level modeling with component-level system design throughout the product lifecycle, providing a pervasive digital thread that links design processes, requirements and validation through proven digital simulation techniques. As a result, engineers can quickly arrive at critical system designs and immediately confirm performance within a mission context.

“Keysight and Ansys are each playing central roles in helping our customers shift their real-world challenges into digital twin simulations. By working together, we can accelerate this transformation, which is enabling our customers to innovate and get to market faster than ever before,” said Tom Lillig, general manager of PathWave Software Solutions at Keysight. “In particular, Keysight’s PathWave System Design software is a powerful bridge between the worlds of virtual simulation and physical test.”   

“Ansys is building on the relationship with Keysight that AGI began, which successfully incorporated DME into design processes, supporting customers in satellite communications, radar and electronic warfare sectors,” said Shane Emswiler, senior vice president at Ansys. “Together, Keysight and Ansys will continue to increase the integration of our tools and explore ways for providing additional modeling capabilities to engineers developing innovations in 5G, aerospace/defense and automotive industries.”   

/ About Ansys

If you’ve ever seen a rocket launch, flown on an airplane, driven a car, used a computer, touched a mobile device, crossed a bridge or put on wearable technology, chances are you’ve used a product where Ansys software played a critical role in its creation. Ansys is the global leader in engineering simulation. Through our strategy of Pervasive Engineering Simulation, we help the world’s most innovative companies deliver radically better products to their customers. By offering the best and broadest portfolio of engineering simulation software, we help them solve the most complex design challenges and create products limited only by imagination. Founded in 1970, Ansys is headquartered south of Pittsburgh, Pennsylvania, U.S.A. Visit www.ansys.com for more information.

Ansys and any and all ANSYS, Inc. brand, product, service and feature names, logos and slogans are registered trademarks or trademarks of ANSYS, Inc. or its subsidiaries in the United States or other countries. All other brand, product, service and feature names or trademarks are the property of their respective owners.

ANSS–T

/ Contacts

 

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SOURCE Ansys