Market Newsdesk

ATLANTA, March 1, 2021 /PRNewswire/ — Graphic Packaging International, LLC (“Graphic Packaging”), a direct wholly-owned subsidiary of Graphic Packaging International Partners, LLC and the primary operating subsidiary of Graphic Packaging Holding Company (NYSE: GPK), announced that it has entered into an agreement to sell $400.0 million aggregate principal amount of its senior secured notes due 2024 (the “2024 Notes”) and $400.0 million aggregate principal amount of its senior secured notes due 2026 (the “2026 Notes” and, together with the 2024 Notes, the “Senior Notes”) in a private offering in reliance upon an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The 2024 Notes will bear interest at an annual rate of 0.821% and the 2026 Notes will bear interest at an annual rate of 1.512%.  The Senior Notes will be issued at par. Graphic Packaging expects to close the offering on or about March 8, 2021, subject to the satisfaction of customary closing conditions.

The Senior Notes will be senior secured obligations of Graphic Packaging.  The Senior Notes will be guaranteed by Graphic Packaging International Partners, LLC and Field Container Queretaro (USA), L.L.C., as well as by Graphic Packaging’s future material domestic subsidiaries that guarantee obligations under its senior credit facilities and its existing senior notes due 2022, 2024, 2027, 2028 and 2029.

Graphic Packaging estimates that the net proceeds from this offering will be approximately $794 million, after deducting the initial purchasers’ discount and other transaction related costs.  The net proceeds from the offering will be used solely (i) to repay in full all outstanding secured term loans under Graphic Packaging’s Amended and Restated Term Loan Credit Agreement dated as of January 1, 2018 and effective as of January 8, 2018 with a syndicate of lenders and Bank of America, N.A., as Administrative Agent, (ii) to repay a portion of the outstanding secured term loans under Graphic Packaging’s Third Amended and Restated Credit Agreement dated as of January 1, 2018 with a syndicate of lenders and Bank of America, N.A., as Administrative Agent, and (iii) to pay fees and expenses incurred in connection with the offering. 

The Senior Notes and the related guarantees are being offered and sold only to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration set forth in Rule 144A under the Securities Act and outside the United States, to non-U.S. persons in reliance on the exemption from registration set forth in Regulation S under the Securities Act.  The Senior Notes and the related guarantees have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements.

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

About Graphic Packaging International, LLC

Graphic Packaging International, LLC, a direct wholly-owned subsidiary of Graphic Packaging International Partners, LLC and the primary operating subsidiary of Graphic Packaging Holding Company (the “Company”) (NYSE: GPK), headquartered in Atlanta, Georgia, is committed to providing consumer packaging that makes a world of difference. The Company is a leading provider of fiber-based, sustainable packaging solutions for a wide variety of products to food, beverage, foodservice, and other consumer products companies. The Company operates on a global basis, is one of the largest producers of folding cartons and fiber-based foodservice products in the United States, and holds leading market positions in coated recycled paperboard, coated unbleached kraft paperboard and solid bleached sulfate paperboard. The Company’s customers include many of the world’s most widely-recognized companies and brands.

Forward-Looking Statements

Any statements of Graphic Packaging International, LLC’s expectations in this press release constitute “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Such statements, including but not limited to those regarding the offering and the use of proceeds therefrom, are based on currently available information and are subject to various risks and uncertainties that could cause actual results to differ materially from Graphic Packaging International, LLC ‘s present expectations.  These risks and uncertainties include, but are not limited to, market conditions affecting the offering.  Undue reliance should not be placed on such forward-looking statements, as such statements speak only as of the date on which they are made and Graphic Packaging International, LLC undertakes no obligation to update such statements, except as required by law.  Additional information regarding these and other risks is contained in Graphic Packaging International, LLC’s filings with the Securities and Exchange Commission.

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SOURCE Graphic Packaging Holding Company

NEW YORK, March 1, 2021 /PRNewswire/ — Ready Capital Corporation (NYSE: RC) (“Ready Capital” or the “Company”) announced that its board of directors declared a prorated dividend of $0.30 per share of common stock and operating partnership unit (the “Prorated Dividend”). The Prorated Dividend is payable on March 18, 2021 to common stockholders and operating partnership unitholders of record as of the close of business on March 15, 2021. The Prorated Dividend was declared by the board of directors in accordance with the Agreement and Plan of Merger, dated as of December 6, 2020 (the “Merger Agreement”), by and among Ready Capital, RC Merger Subsidiary, LLC and Anworth Mortgage Asset Corporation (“Anworth”) relating to the previously announced merger of Ready Capital and Anworth. Pursuant to the terms of the Merger Agreement, the Prorated Dividend was calculated by multiplying Ready Capital’s fourth quarter dividend of $0.35 per share of common stock and operating partnership unit by the number of days elapsed since December 31, 2020 through March 18, 2021 (the day prior to the expected closing date of the merger), and divided by the number of days in the first quarter.  The board of directors of Ready Capital may consider declaring an additional first quarter dividend to cover the period from March 19, 2021 through March 31, 2021 or to distribute amounts in excess of what is contractually required under the Merger Agreement.        

Additional Information About the Proposed Merger

In connection with the proposed transaction contemplated by the Merger Agreement, pursuant to which, subject to the terms and conditions therein, Anworth will be merged with and into Merger Sub, with Merger Sub continuing as the surviving company (such, transaction, the “Merger”), Ready Capital has filed with the SEC a registration statement on Form S-4 (File No. 333-251863), which was declared effective by the SEC on February 9, 2021.  The registration statement includes a prospectus of Ready Capital and a joint proxy statement of Anworth and Ready Capital.  Anworth and Ready Capital also expect to file with the SEC other documents regarding the Merger.

STOCKHOLDERS OF READY CAPITAL AND ANWORTH ARE ADVISED TO READ THE REGISTRATION STATEMENT AND THE JOINT PROXY STATEMENT/PROSPECTUS (INCLUDING ALL OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS AND SUPPLEMENTS TO THESE DOCUMENTS) CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT READY CAPITAL, ANWORTH, THE PROPOSED MERGER, AND RELATED MATTERS.  Stockholders of Ready Capital and Anworth may obtain free copies of the registration statement, the joint proxy statement/prospectus, and all other documents filed or that will be filed with the SEC by Ready Capital or Anworth at the SEC’s website at http://www.sec.gov.  Copies of documents filed with the SEC by Ready Capital will be made available free of charge on Ready Capital’s website at http://www.readycapital.com, or by directing a request to its Investor Relations at (212) 257-4666; email: [email protected]. Copies of documents filed with the SEC by Anworth are will be made available free of charge on Anworth’s website at http://www.anworth.com, or by directing a request to its Investor Relations, Attention: John T. Hillman at (310) 255-4438; email: [email protected]. 

This communication is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the 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 Securities Act of 1933, as amended (the “Securities Act”).

Participants in Solicitation Relating to the Merger

Ready Capital, its directors and executive officers, and certain other affiliates of Ready Capital may be deemed to be “participants” in the solicitation of proxies from the stockholders of Ready Capital in connection with the proposed Merger. Information regarding Ready Capital, its directors and executive officers and their respective ownership of common stock of Ready Capital, and the respective interests of such participants in the Merger can be found in the joint proxy statement/prospectus for Ready Capital’s special meeting of stockholders, filed by Ready Capital with the SEC on February 9, 2021. A free copy of the joint proxy statement/prospectus may be obtained from the sources described above.

Anworth and its directors and executive officers may also be deemed to be participants in the solicitation of proxies from the stockholders of Ready Capital in connection with the proposed Merger. A list of the names of such directors and executive officers and information regarding their interests in the proposed Merger are included in the joint proxy statement/prospectus for the proposed Merger.

About Ready Capital Corporation

Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services small to medium balance commercial loans. Ready Capital specializes in loans backed by commercial real estate, including agency multifamily, investor and bridge as well as SBA 7(a) business loans. Headquartered in New York, New York, Ready Capital employs over 500 lending professionals nationwide. The company is externally managed and advised by Waterfall Asset Management, LLC.

About Anworth Mortgage Asset Corporation

Anworth Mortgage Asset Corporation (NYSE: ANH) is an externally-managed mortgage real estate investment trust (“REIT”).  Anworth invests primarily in mortgage-backed securities that are either rated “investment grade” or are guaranteed by federally sponsored enterprises, such as Fannie Mae or Freddie Mac.  Anworth seeks to generate income for distribution to its shareholders primarily based on the difference between the yield on its mortgage assets and the cost of its borrowings.  Anworth is managed by Anworth Management LLC (the “Manager”), pursuant to a management agreement.  The Manager is subject to the supervision and direction of Anworth’s Board and is responsible for (i) the selection, purchase, and sale of Anworth’s investment portfolio; (ii) Anworth’s financing and hedging activities; and (iii) providing Anworth with portfolio management, administrative, and other services relating to its assets and operations as may be appropriate. Anworth Mortgage Asset Corporation is a component of the Russell 2000® Index.

Safe Harbor Statement

This press release includes “forward-looking statements,” as such term is defined in Section 27A of the Securities Act and Section 21E of the Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same.  These forward-looking statements are based on current assumptions, expectations and beliefs of Ready Capital and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.  Ready Capital cannot give any assurance that these forward-looking statements will be accurate.  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.  There are a number of risks and uncertainties, many of which are beyond the parties’ control, that could cause actual results to differ materially from the forward-looking statements included herein, including, but not limited to, the risk that the board of directors of Ready Capital will not declare an additional first quarter  dividend to cover the period from March 19, 2021 to March 31, 2021 or to distribute amounts in excess of what is contractually required under the Merger Agreement;  the Merger will not be consummated within the expected time period or at all; the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement; the possibility that stockholders of Ready Capital may not approve the issuance of Ready Capital common stock in connection with the Merger; the possibility that stockholders of Anworth may not approve the Merger Agreement; the outcome the risk that the parties may not be able to satisfy the conditions to the Merger in a timely manner or at all; risks related to disruption of management’s attention from ongoing business operations due to the proposed Merger; the risk that any announcements relating to the Merger could have adverse effects on the market price of common stock of Ready Capital; the risk that the Merger could have an adverse effect on the operating results and business of Ready Capital generally; the outcome of any legal proceedings relating to the Merger; the ability to retain key personnel; the impact of the COVID-19 pandemic on the business and operations, financial condition, results of operations, and liquidity and capital resources of Ready Capital; conditions in the market for mortgage-related investments; changes in interest rates; changes in the yield curve; changes in prepayment rates; the availability and terms of financing; market conditions; general economic conditions; and legislative and regulatory changes that could adversely affect the business of Ready Capital.  All such factors are difficult to predict, including those risks set forth in Ready Capital’s annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K that are available on Ready Capital’s website at http://www.readycapital.com and on the SEC’s website at http://www.sec.gov.  The forward-looking statements included in this Current Report on Form 8-K are made only as of the date hereof.  Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.  Ready Capital undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances, except as required by applicable law. 

Contact
Investor Relations
Ready Capital Corporation
212-257-4666
[email protected]

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SOURCE Ready Capital Corporation

TORONTO, March 1, 2021 /CNW/ – Domenic Carosa, Founder & Chairman, Banxa Holdings Inc. (TSXV: BNXA), shares his company’s story in an interview with TMX Group.

The C-Suite at The Open video interview series highlights the unique perspectives of listed companies on Toronto Stock Exchange and TSX Venture Exchange.  Videos provide insight into how company executives think in the current business environment.  To see the latest C-Suite at The Open videos visit https://www.tmxmoney.com/en/csuite.html.

About Banxa Holdings Inc. (TSXV: BNXA)

Banxa Holdings Inc. is a payments service provider (PSP) for the digital asset space. The company has a mission – to build the bridge between traditional financial systems, regulation, and the digital space. Our goal is to onboard the general public to digital currency by building fully compliant payment infrastructure that enables simple and secure conversion of fiat currency to digital currency. For more information visit: https://banxa.com/ 

SOURCE TSX Venture Exchange

Revenue increased 298% from prior quarter

VANCOUVER, BC, March 1, 2021 /PRNewswire/ – PlantX Life Inc. (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) (“PlantX” or the “Company“) today announced  its interim unaudited financial results for the three and nine months ended December 31, 2020. All amounts are reported in Canadian dollars unless otherwise stated.

Third Quarter Highlights

• The Company generated gross revenue of $1,832,484 for the three months ended December 31, 2020, an increase of 298% from Q2 gross revenue of $459,982.
• Cost of sales for the three months ended December 31, 2020 was $1,832,484.
• The Company achieved a gross margin of 20% for the three months ended December 31, 2020, an increase from 5.7% in Q2.

“The Company’s increase in revenue and sales during a highly unprecedented year positions the Company as one of the highest growing leaders in the plant-based industry,” said Julia Frank, PlantX CEO. “The Company attributes its revenue growth to its expanded product offerings, innovative partnerships and strategic acquisitions.”

“Over the last three quarters we have seen increases in revenue, which emphasizes the impact and potential that PlantX has in the plant-based marketplace,” said Sean Dollinger, PlantX Founder. “We seek to build on our current financial results, and deliver some of the most high-quality and dynamic experiences and products to our plant-based community through our evolving growth strategy and commitment to excellence”.

The Q3 financial statements and management’s discussion analysis have been filed and are available on the Company’s SEDAR profile at www.sedar.com.

About PlantX Life Inc.

As the digital face of the plant-based community, PlantX’s platform is the one-stop shop for everything plant-based. With its fast-growing category verticals, the Company offers customers across North America more than 10,000 plant-based products. In addition to offering meal and indoor plant deliveries, the Company currently has plans underway to expand its product lines to include cosmetics, clothing and its own water brand — but the business is not limited to an e-commerce platform. The Company uses its digital platform to build a community of likeminded consumers and, most importantly, provide education. Its successful enterprise is being built and fortified on partnerships with top nutritionists, chefs and brands. The Company eliminates the barriers to entry for anyone interested in living a plant-based lifestyle and thriving in a longer, healthier and happier life.

The Company website is http://investor.PlantX.com/.

Non-IFRS Measures

This press release includes references to “gross margin”, which is a non-International Financial Reporting Standards (“IFRS“) financial measure. Non-IFRS measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. PlantX defines gross margin as the difference between revenue and cost of goods sold divided by revenue (expressed as a percentage), prior to the effect of a fair value adjustment for inventory. Readers are cautioned that such non-IFRS measure may not be appropriate for any other purpose. Non-IFRS measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may,” “will,” “expect,” “likely,” “should,” “would,” “plan,” “anticipate,” “intend,” “potential,” “proposed,” “estimate,” “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy. The forward-looking information contained herein includes, without limitation, the business and strategic plans of the Company.

By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate; that assumptions may not be correct; and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release including, without limitation: the Company’s ability to comply with all applicable governmental regulations, including all applicable food safety laws and regulations; impacts to the business and operations of the Company due to the COVID-19 epidemic; a limited operating history; the ability of the Company to access capital to meet future financing needs; the Company’s reliance on management and key personnel; competition; changes in consumer trends; foreign currency fluctuations; and general economic, market or business conditions.

Additional risk factors can also be found in the Company’s continuous disclosure documents, which have been filed on SEDAR and can be accessed at www.sedar.com. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

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SOURCE PlantX Life Inc.

MONMOUTH JUNCTION, N.J., March 1, 2021 /PRNewswire/ — CytoSorbents Corporation (NASDAQ: CTSO), a critical care immunotherapy leader commercializing its blood purification technology to treat deadly inflammation in critically-ill and cardiac surgery patients around the world, will report fiscal 2020 financial results on Tuesday, March 9, 2021 at 4:45PM EST. 

CytoSorbents’ management will host a live conference call and presentation webcast that will recount both operational and financial progress during Q4 2020 and fiscal year ending December 31, 2020 followed by a question and answer session.

Conference Call Details:
Date: Tuesday, March 9, 2021
Time: 4:45 PM Eastern
Participant Dial-In:  201-389-0879
Conference ID:  13716351
Live Presentation Webcast:  http://public.viavid.com/index.php?id=143499

It is recommended that participants dial in approximately 10 minutes prior to the start of the call.  There will also be a simultaneous live webcast of the conference call that can be accessed through the following audio feed link: http://public.viavid.com/index.php?id=143499

http://public.viavid.com/index.php?id=108451
http://public.viavid.com/index.php?id=105816An archived recording and written transcript of the conference call will be available under the Investor Relations section of the Company’s website at http://cytosorbents.com/investor-relations/financial-results/

About CytoSorbents Corporation (NASDAQ: CTSO)

CytoSorbents Corporation is a leader in critical care immunotherapy, specializing in blood purification. Its flagship product, CytoSorb® is approved in the European Union with distribution in 67 countries around the world, as an extracorporeal cytokine adsorber designed to reduce the “cytokine storm” or “cytokine release syndrome” that could otherwise cause massive inflammation, organ failure and death in common critical illnesses. These are conditions where the risk of death is extremely high, yet no effective treatments exist.  CytoSorb® is also being used during and after cardiac surgery to remove inflammatory mediators that can lead to post-operative complications, including multiple organ failure. CytoSorb® has been used in more than 121,000 human treatments to date.  CytoSorb has received CE-Mark label expansions for the removal of bilirubin (liver disease), myoglobin (trauma), and both ticagrelor and rivaroxaban during cardiothoracic surgery.  CytoSorb has also received FDA Emergency Use Authorization in the United States for use in critically ill COVID-19 patients with imminent or confirmed respiratory failure, in defined circumstances.  CytoSorb has also been granted FDA Breakthrough Designation for the removal of ticagrelor in a cardiopulmonary bypass circuit during emergent and urgent cardiothoracic surgery.

CytoSorbents’ purification technologies are based on biocompatible, highly porous polymer beads that can actively remove toxic substances from blood and other bodily fluids by pore capture and surface adsorption. Its technologies have received non-dilutive grant, contract, and other funding of more than $38 million from DARPA, the U.S. Department of Health and Human Services (HHS), the National Institutes of Health (NIH), National Heart, Lung, and Blood Institute (NHLBI), the U.S. Army, the U.S. Air Force, U.S. Special Operations Command (SOCOM), Air Force Material Command (USAF/AFMC), and others. The Company has numerous products under development based upon this unique blood purification technology protected by many issued U.S. and international patents and multiple applications pending, including ECOS-300CY™, CytoSorb-XL™, HemoDefend-RBC™, HemoDefend-BGA™, VetResQ™, K⁺ontrol™, DrugSorb™, ContrastSorb, and others.    For more information, please visit the Company’s websites at www.cytosorbents.com and www.cytosorb.com or follow us on Facebook and Twitter.

Forward-Looking Statements

This press release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, representations and contentions and are not historical facts and typically are identified by use of terms such as “may,” “should,” “could,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue” and similar words, although some forward-looking statements are expressed differently. You should be aware that the forward-looking statements in this press release represent management’s current judgment and expectations, but our actual results, events and performance could differ materially from those in the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, the risks discussed in our Annual Report on Form 10-K, filed with the SEC on March 5, 2020, as updated by the risks reported in our Quarterly Reports on Form 10-Q, and in the press releases and other communications to shareholders issued by us from time to time which attempt to advise interested parties of the risks and factors which may affect our business. We caution you not to place undue reliance upon any such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, other than as required under the Federal securities laws.

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SOURCE CytoSorbents Corporation

DENVER, March 1, 2021 /PRNewswire/ — TTEC Holdings, Inc. (NASDAQ: TTEC), one of the largest global CX (customer experience) technology and services innovators for end-to-end digital CX solutions, is pleased to announce that it has agreed to acquire Avtex, an award-winning full-service CX technology and solutions leader. The acquisition, once completed, will be immediately accretive and highly complementary to TTEC’s well-established CX-as-a-Service (CXaaS) customer experience technology and services platform. With this acquisition, TTEC will further expand its position as one of the leading global CX technology innovators and largest providers of end-to-end digital customer experience solutions worldwide.

A proven leader in digital CX transformation, Avtex will enhance TTEC’s proprietary CX technology portfolio and extensive global partnerships. Avtex will add breadth and depth to TTEC’s end-to-end CXaaS platform with a value proposition that includes:

• Transformational, differentiated scale: Adds over 1,000 clients across North America and 500+ experienced CX engineers, data scientists, and solution architects who design, deploy and support complex, integrated digital solutions.
• Expanded technology partnerships with industry leaders: Recipient of multiple Genesys Partner of the Year Awards, including 2020 Global Partner of the Year, and placed five consecutive years in Microsoft’s “Inner Circle” for its industry-leading cloud, data analytics, and AI solutions.
• Meaningful expansion of offerings across industries: Expanded footprint with banking, financial services, insurance, credit unions, public sector, healthcare, and e-commerce clients, among others. 
• Significant CX innovation through differentiated intellectual property: Differentiated IP for API integrations, AI/ML and RPA, data analytics, workforce management, cybersecurity, fraud and customized solutions to address industry-specific challenges.
• More than doubles TTEC’s coverage of the CX technology addressable market: Combines TTEC’s enterprise focus with Avtex’s mid-market strengths increasing TTEC’s CX addressable market from 25% to more than 50% coverage. 
• Industry-leading management team and growth engine: Led by a dedicated executive team comprised of industry veterans with extensive experience in technology-enabled CX strategies. Strong sales performance is driven by a high-powered, award-winning, go-to-market organization.
• Accretive: High growth, robust financial profile, and synergies from the combined organizations.

“This acquisition will be transformational for TTEC and will expand our position as the global go-to-partner for holistic, cloud-based customer experience solutions. It will put all of the major Tier 1 CX technologies under one roof and accelerate digital innovation with industry-leading IP, including API integrations, AI/ML and RPA, data analytics, and vertical-specific solutions for fraud, cybersecurity, and automation. The result will create a single source for seamless CX orchestration across every interaction channel that will increase speed-to-market and customer-centric differentiation for our clients,” commented Ken Tuchman, chairman and CEO of TTEC. “This high-growth platform will essentially double our total addressable market by extending our solutions to the thriving mid-market. We are thrilled to be joining forces with this world-class, award-winning organization and look forward to sharing our progress in the months ahead.”

George Demou, president and CEO of Avtex, stated: “Through our past experiences partnering with TTEC, Avtex has seen first-hand the power of their unique end-to-end value proposition. There is no doubt that our clients will benefit from TTEC’s differentiated CX technology and solutions platform, broader digital transformation capabilities, and an expanded global footprint.” He continued, “The opportunity that will be created by combining our two organizations is significant and compelling, and we are delighted to be pursuing it with a partner who shares our vision, culture, values, and focus on client-centricity.”

The acquisition is subject to customary regulatory completion clearance by the US antitrust agencies.

About TTEC:

TTEC Holdings, Inc. (NASDAQ: TTEC) is one of the largest global CX (customer experience) technology and services innovators for end-to-end, digital CX solutions. The Company delivers leading CX technology and operational CX orchestration at scale through its proprietary cloud-based CXaaS (Customer Experience as a Service) platform.  Serving iconic and disruptive brands, TTEC’s outcome-based solutions span the entire enterprise, touch every virtual interaction channel, and improve each step along the customer journey. Leveraging next-gen digital and cognitive technology, the Company’s Digital business designs, builds, and operates omnichannel contact center technology, conversational messaging, CRM, automation (AI / ML and RPA), and analytics solutions.  The Company’s Engage business delivers digital customer engagement, customer acquisition & growth, content moderation, fraud prevention, and data annotation solutions. Founded in 1982, the Company’s singular obsession with CX excellence has earned it leading client NPS scores across the globe. The Company’s nearly 61,000 employees operate on six continents and bring technology and humanity together to deliver happy customers and differentiated business results. To learn more, visit us at https://www.ttec.com.

About Avtex:

Avtex is a full-service Customer Experience (CX) company focused on helping organizations build meaningful connections with their customers, members, and constituents. Avtex offers a wide range of solutions to support CX transformation planning and orchestration of experiences for clients. Avtex has offices across the U.S., with headquarters in Minneapolis. Avtex is recognized as a gold partner of both Microsoft and Genesys, leveraging their world-class platforms as the foundation for customer engagements and digital transformation. Visit www.avtex.com for more information.

Additional Resources: 

• Hear from George Demou about joining TTEC and why it will change the game for digital customer experiences
• Learn how TTEC Digital can transform customer experiences
• Download your Effortless Experiences Toolkit
• Check out TTEC’s prestigious list of awards and recognition, including recent recognition as a Leader in Forrester’s Omnichannel Wave

Tweet This: TTEC announces its intent to acquire @Avtex – soon adding Genesys and Microsoft to the Humanify CX ecosystem! #cloudcontactcenter #virtualcontactcenter #acquisition  

contact
Liesl Perez
[email protected]  
+1.303.551.1417

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SOURCE TTEC Holdings, Inc.

DENVER, March 1, 2021 /PRNewswire/ — TTEC Holdings, Inc. (NASDAQ: TTEC), one of the largest, global CX (customer experience) technology and services innovators for end-to-end digital CX solutions, announced today financial results for the fourth quarter and full year ended December 31, 2020.

“TTEC achieved record performance across our 2020 booking, revenue, and profitability metrics. The full year 19 percent revenue growth, including the fourth quarter’s 24 percent revenue growth and our full year 58 percent Non-GAAP operating income growth are the result of a growing market demand for partners who can with quality and reliability deliver virtual, digital and outcome-based customer experience solutions,” commented Ken Tuchman, chairman and chief executive officer of TTEC.

Tuchman continued, “Our ability to swiftly and safely bring the technology and human talent to unprecedented levels of customer and citizen interaction has resulted in a significant increase in our overall client momentum. This increased market share, our strong revenue backlog, and growing sales pipeline, alongside our continued execution of strategic and accretive acquisitions, including Avtex, confidently sets us up to continue to deliver industry leading solutions and financial results into 2021 and beyond.”

FULL YEAR 2020 FINANCIAL HIGHLIGHTS                

Revenue        

• Full year 2020 GAAP revenue increased 18.6 percent to $1.949 billion compared to $1.644 billion in the prior year.
• Foreign exchange had a $0.3 million positive impact on revenue for the full year 2020.

Income from Operations

• Full year 2020 GAAP income from operations was $204.7 million, or 10.5 percent of revenue, compared to $123.7 million, or 7.5 percent of revenue in the prior year.
• Non-GAAP income from operations, excluding restructuring and impairment charges, equity-based compensation expenses, and amortization of purchased intangibles, was $242.4 million or 12.4 percent of revenue versus 9.3 percent for the prior year.
• Foreign exchange had a $1.2 million positive impact on income from operations for the full year 2020.

Adjusted EBITDA        

• Full year 2020 Non-GAAP Adjusted EBITDA was $304.0 million, or 15.6 percent of revenue, compared to $209.1 million, or 12.7 percent of revenue in the prior year.

Earnings Per Share

• Full year 2020 GAAP fully diluted earnings per share was $2.52 compared to $1.65 for the same period last year.
• Non-GAAP fully diluted earnings per share was $3.82 compared to $2.25 in the prior year.

Bookings

• During full year 2020, TTEC signed an estimated $659 million in annualized contract value compared to $487 million in the prior year. Full year bookings mix was diversified across segments, verticals, and geographies.

FOURTH QUARTER 2020 FINANCIAL HIGHLIGHTS                

Revenue        

• Fourth quarter 2020 GAAP revenue increased 23.8 percent to $571.0 million compared to $461.3 million in the prior year period.
• Foreign exchange had a $3.1 million positive impact on revenue in the fourth quarter 2020.

Income from Operations

• Fourth quarter 2020 GAAP income from operations was $61.6 million, or 10.8 percent of revenue, compared to $42.8 million, or 9.3 percent of revenue in the prior year period.
• Non-GAAP income from operations, excluding restructuring and impairment charges, equity-based compensation expenses, and amortization of purchased intangibles, was $73.9 million or 12.9 percent of revenue versus 10.8 percent for the prior year period.
• Foreign exchange had a negligible positive impact on income from operations in the fourth quarter 2020.

Adjusted EBITDA        

• Fourth quarter 2020 Non-GAAP Adjusted EBITDA was $92.3 million, or 16.2 percent of revenue, compared to $63.2 million, or 13.7 percent of revenue in the prior year period.

Earnings Per Share

• Fourth quarter 2020 GAAP fully diluted earnings per share was $0.94 compared to $0.60 for the same period last year.
• Non-GAAP fully diluted earnings per share was $1.22 compared to $0.76 in the prior year period.

Bookings

• During the fourth quarter 2020, TTEC signed an estimated $188 million in annualized contract value compared to $120 million in the prior year period. Fourth quarter bookings mix was diversified across segments, verticals, and geographies.

STRONG CASH FLOW AND BALANCE SHEET FUND INVESTMENTS AND DIVIDENDS

• Cash flow from operations in the fourth quarter 2020 was $85.1 million compared to $53.6 million for the fourth quarter 2019. For the full year 2020, cash flow from operations was $271.9 million compared to $238.0 million for the same period 2019.
• Capital expenditures in the fourth quarter 2020 were $11.9 million compared to $16.3 million for the fourth quarter 2019. For the full year 2020, capital expenditures were $59.8 million compared to $60.8 million for the same period 2019.
• As of December 31, 2020, TTEC had cash and cash equivalents of $132.9 million and debt of $396.3 million, resulting in a net debt position of $263.4 million. This compares to a net debt position of $225.1 million for the same period 2019.
• As of December 31, 2020, TTEC had approximately $510 million of additional borrowing capacity available under its revolving credit facility compared to $530 million for the same period 2019.
• In the fourth quarter 2020, TTEC paid a $0.40 per share, or $18.7 million, semi-annual dividend on October 29, 2020, and paid a $2.14 per share, or $100.0 million, one-time special dividend on December 30, 2020. On February 25, 2021, the Board declared the next semi-annual dividend of $0.43 per share, payable on April 21, 2021 to shareholders of record as of April 5, 2021. This dividend represents a 7.5 percent increase over the October 2020 dividend and 26.5 percent over the April 2020 dividend.

SEGMENT REPORTING & COMMENTARY

TTEC reports financial results for the following two business segments: TTEC Digital (Digital) and TTEC (Engage). Financial highlights for the two segments are provided below.

TTEC Digital – Design, build and operate tech-enabled, insight-driven CX solutions

• Fourth quarter 2020 GAAP revenue for TTEC Digital decreased 8.1 percent to $75.7 million from $82.4 million for the year ago period. Income from operations was $7.6 million or 10.1 percent of revenue compared to operating income of $11.8 million or 14.3 percent of revenue for the prior year period.
• Non-GAAP income from operations was $9.9 million, or 13.1 percent of revenue compared to operating income of $13.3 million or 16.2 percent of revenue in the prior year period.

TTEC Engage – Digitally-enabled customer care, acquisition, and fraud prevention services

• Fourth quarter 2020 GAAP revenue for TTEC Engage increased 30.7 percent to $495.3 million from $379.0 million for the year ago period. Income from operations was $54.0 million or 10.9 percent of revenue compared to operating income of $31.0 million or 8.2 percent of revenue for the prior year period.
• Non-GAAP income from operations was $64.0 million, or 12.9 percent of revenue compared to operating income of $36.6 million or 9.7 percent of revenue in the prior year period.
• Foreign exchange had a $2.9 million positive impact on revenue and negligible impact on income from operations.

BUSINESS OUTLOOK

“Our performance over the past year demonstrates the resiliency of our global team, the strength of our client relationships, and the market relevancy of our Digital and Engage assets,” commented Regina Paolillo, chief financial and administrative officer. “From the very onset of the pandemic, we responded with agility and ingenuity. We protected the safety of our employees and clients and rapidly deployed our secure Humanify Cloud @home platform to enable over 100 thousand users to work virtually.  By successfully responding to our client’s initial challenges including continuity, quality of service and surge volumes, we have been rewarded with more permanent volumes including virtualizing and digitizing their customer experience platforms with our OneTTEC technology-rich, suite of solutions.”

Paolillo continued, “Our demonstrated capabilities and deep domain expertise in delivering differentiated outcome-based CX solutions has propelled TTEC to a new level of performance with record fourth quarter and full year 2020 financial results. We are well positioned to deliver continued profitable revenue growth in 2021, substantiated by the size and diversity of our bookings, revenue backlog, sales pipeline and history of strategic and accretive acquisitions, including Avtex.”

Our full-year 2021 outlook, including Avtex, is as follows:

Revenue between $2.147 and $2.183 billion, an increase of 10.2 and 12.0 percent over the prior year. 

Non-GAAP Operating Income margins between 11.9 and 12.2 percent.

• Margins of approximately 13.8 percent for TTEC Digital and 11.7 percent for TTEC Engage

Non-GAAP Adjusted EBITDA margins between 14.8 and 15.2 percent.

• Margins of approximately 17.4 percent for TTEC Digital and 14.5 percent for TTEC Engage

Non-GAAP Earnings Per Share between $4.06 and $4.25.

Capital expenditures are estimated to between 3.1 and 3.3 percent of revenue, of which approximately 60 percent is growth oriented.  

Effective tax rate for the full year is estimated between 21 and 24 percent.

Diluted share count for the full year is estimated between 47.2 and 47.6 million.

We estimate the first half – second half 2021 mix as follows:

• Revenue: 49 percent first half, 51 percent second half
• Non-GAAP Operating Income: 51 percent first half, 49 percent second half
• Non-GAAP Adjusted EBITDA: 51 percent first half, 49 percent second half
• Non-GAAP Earnings Per Share: 52 percent first half, 48 percent second half

We estimate the Digital – Engage 2021 mix as follows:

• Revenue: 17.5 percent Digital, 82.5 percent Engage, of which 39 percent of Digital and 51 percent of Engage in the first half, respectively.
• Non-GAAP Operating Income: 20 percent Digital, 80 percent Engage, of which 30 percent of Digital and 57 percent of Engage in the first half, respectively.
• Adjusted EBITDA: 20 percent Digital 80 percent Engage, of which 33 percent of Digital and 55 percent of Engage in the first half, respectively.

NON-GAAP FINANCIAL MEASURES

This press release contains a discussion of certain Non-GAAP financial measures that the Company includes to allow investors and analysts to measure, analyze and compare its financial condition and results of operations in a meaningful and consistent manner. A reconciliation of these Non-GAAP financial measures can be found in the tables accompanying this press release.

• GAAP metrics are presented in accordance with Generally Accepted Accounting Principles.
• Non-GAAP – As reflected in the attached reconciliation table, the definition of Non-GAAP may exclude from operating income, EBITDA, net income and earnings per share restructuring and impairment charges, equity-based compensation expenses, amortization of purchased intangibles, among other items.

ABOUT
TTEC 

TTEC Holdings, Inc. (NASDAQ: TTEC) is one of the largest, global CX (customer experience) technology and services innovators for end-to-end, digital CX solutions. The Company delivers leading CX technology and operational CX orchestration at scale through its proprietary cloud-based CXaaS (Customer Experience as a Service) platform.  Serving iconic and disruptive brands, TTEC’s outcome-based solutions span the entire enterprise, touch every virtual interaction channel, and improve each step of the customer journey. Leveraging next gen digital and cognitive technology, the Company’s Digital business designs, builds, and operates omnichannel contact center technology, conversational messaging, CRM, automation (AI / ML and RPA), and analytics solutions.  The Company’s Engage business delivers digital customer engagement, customer acquisition & growth, content moderation, fraud prevention, and data annotation solutions. Founded in 1982, the Company’s singular obsession with CX excellence has earned it leading client NPS scores across the globe. The company’s nearly 61,000 employees operate on six continents and bring technology and humanity together to deliver happy customers and differentiated business results. To learn more visit us at https://www.ttec.com

FORWARD-LOOKING STATEMENTS

This earnings release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of TTEC Holding, Inc.’s management and are subject to significant risks and uncertainties. Specifically, we would like for you to focus on risks related to COVID-19 global pandemic and the various government mandates designed to contain the pandemic, and how these risks may impact our business in the short and longer term; the risks related to our strategy execution; our ability to innovate and introduce technologies that are sufficiently disruptive to allow us to maintain and grow our market share; cybersecurity; consolidation activities undertaken by our clients; changes in laws that impact our business and our ability to comply with those and other laws governing our operations; the reliability of our information technology infrastructure and our ability to consistently deliver uninterrupted service to our clients; the need to forecast demand for services accurately and the impact of such forecasts on our capacity utilization; our ability to attract and retain qualified and skilled personnel at a price point that we can afford and our clients are willing to pay; our M&A activity, including our ability to identify, acquire and properly integrate acquired businesses in accordance with our strategy; and our equity structure including our controlling shareholder risk, and the potential volatility of our stock price resulting therefrom. Risk Factors that could cause TTEC’s results to differ materially from those described in the forward-looking statements can be found in TTEC’s Annual Report on Form 10-K for the year ended December 31, 2020, which has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and is available on TTEC’s website www.ttec.com, and on the SEC’s public website at www.sec.gov. TTEC Holdings, Inc. does not undertake to update any forward-looking statements.

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SOURCE TTEC Holdings, Inc.

SAN FRANCISCO, March 1, 2021  /PRNewswire/ — JINS Eyewear (hereafter JINS), launched a collaboration with Evangelion in March 2021 prior to the release of the popular animation movie “Evangelion: 3.0+1.0 Thrice Upon a Time”. Customers can sign up for a waitlist at JINS online store (https://www.jins.com/us/evangelion), and the collection will be available Fall 2021.

The EVANGELION collaboration is coming to JINS!
An evolutionary model that’s inspired by the characters of EVANGELION

Inspired by the motifs of EVANGELION characters, JINS incorporated them into the eyewear design. The lineup consists of a total of 3 types, 2 types of optical glasses inspired by the EVA Unit-01 and EVA Unit-02, and 1 type of sunglasses inspired by EVA Unit-01. The collection will be available from Fall 2021, but customers can sign up online prior.

The original box has a black base with a graphic image of the EVA Unit-01 and EVA Unit-02, giving it a chic and luxurious finish. In addition, a limited number of original transparent folders are included. With these products and accessories, you can enjoy the world of “EVANGELION”.

Bonus item with your purchase, if you sign up early: a set of 3 transparent folders (available Fall 2021).

© khara © JINS Inc. All Rights Reserved. Single Face Tracker Plugin is copyrighted by ULSEE Inc.

What is Evangelion?

“Evangelion” is a world-famous animation that depicts the battle between 14-year-old boys and girls as the pilots of the Multipurpose Humanoid Decisive Weapon called “Evangelion” into combat with the mysterious enemies called “Angels”.

“Evangelion”, which began as a television anime in 1995, has created a major movement by captivating a wide range of people who were unfamiliar with the anime through its stylish and detailed settings and story development. Many people, regardless of age or gender, sympathize with the characters, each being unique in their own way. On the other hand, the great animation unfolded by the Multipurpose Humanoid Decisive Weapon made anime fans soar and greatly inspired creators from various fields.

In the Evangelion: New Theatrical Edition, which started in 2007, stories for a new generation are spun with more developed animation, and are gaining more fans, especially younger people. “Evangelion,” which has always been at the cutting edge of beautiful animated visuals regardless of the changing times, continues to fascinate many people even after 25 years since its birth. In 2021, the latest and final version of the new theatrical series, “Evangelion: 3.0+1.0 Thrice Upon a Time,” will be released.

[Contact for inquiries regarding this release]
JINS Press Contact
JINS US Marketing
[email protected]

View original content to download multimedia:http://www.prnewswire.com/news-releases/jins-x-evangelion-collaboration-available-fall-2021-early-sign-up-starts-online-on-march-1st–monday-301236265.html

SOURCE JINS Eyewear