Market Newsdesk

December 8, 2020 4:18 pm

The Herzfeld Caribbean Basin Fund, Inc. Announces Quarterly Distribution and Results of 2020 Annual Stockholders Meeting

MIAMI BEACH, Fla., Dec. 08, 2020 (GLOBE NEWSWIRE) — The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA) (the “Fund”) today announced its quarterly distribution pursuant to the Fund’s managed distribution policy (the “MDP”) and reported the results of its 2020 Annual Meeting of Stockholders.

Quarterly Distribution
:

The Fund today declared the following distribution pursuant to the MDP:

Declaration Date	Ex-Date	Record Date	Payment Date	Per Share
12/08/2020	12/17/2020	12/18/2020	12/31/2020	$0.15525

The primary purpose of the MDP is to provide stockholders with a constant, but not guaranteed, fixed minimum rate of distribution each quarter (currently set at the annual rate of 15% of the Fund’s net asset value as determined on March 31, 2020 and payable in quarterly installments). The Fund cannot predict what effect, if any, the MDP will have on the market price of its shares or whether such market price will reflect a greater or lesser discount to net asset value as compared to prior to the adoption of the MDP. The quarterly distribution for the Fund’s second fiscal quarter constitutes the fifth consecutive quarterly distribution under the MDP.

The $0.15525 per share amount announced today reflects a distribution of 3.36% based upon the market price per share of the Fund and 2.64% based upon the net asset value per share of the Fund, each as of November 30, 2020. No conclusions should be drawn about the Fund’s investment performance from the amount of the Fund’s distributions or from the terms of the MDP.

Results of 2020 Annual Meeting:

In addition, the Fund held its annual stockholder meeting on November 12, 2020 (“Annual Meeting”). At the Annual Meeting, the Fund’s stockholders re-elected Mr. Thomas J. Herzfeld as Class III Director of the Fund, for a term of three years. Mr. Herzfeld is Chairman of the Fund’s Board of Directors (the “Board”) and President and Chairman of Thomas J. Herzfeld Advisors, Inc. (“THJA”), and a Portfolio Manager of the Fund.

Details
regarding
the Managed Distribution Policy:

Under the MDP, the Fund will distribute all available investment income to its stockholders, consistent with its investment objective and as required by the Internal Revenue Code of 1986, as amended (the “Code”). The amount distributed per share is subject to change at the discretion of the Board. If sufficient investment income is not available on a quarterly basis, the Fund will distribute long-term capital gains and/or return capital to its stockholders in order to maintain its managed distribution level. The Fund is currently not relying on any exemptive relief from Section 19(b) of the Investment Company Act of 1940, as amended (the “1940 Act”). The Fund may make additional distributions from time to time, including additional capital gain distributions at the end of the taxable year, if required to meet requirements imposed by the Code and/or the 1940 Act. Please note that for stockholders enrolled in the Fund’s Dividend Reinvestment Plan (“DRIP”), the distribution will be reinvested in additional shares of the Fund as described in the DRIP.

The Fund expects that distributions under the MDP will exceed investment income and available capital gains and thus expects that distributions under the MDP will likely include returns of capital for the foreseeable future. A return of capital may occur, for example, when some or all of a stockholder’s investment is paid back to the stockholder. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income.’ Any such returns of capital will decrease the Fund’s total assets and, therefore, could have the effect of increasing the Fund’s expense ratio. In addition, in order to maintain the level of distributions called for under its MDP, the Fund may have to sell portfolio securities at a less than opportune time.

The following table sets forth the estimated amounts of the current quarterly distribution and the cumulative distributions paid this fiscal year to date from the following sources: net investment income, net realized capital gains and return of capital. All amounts are expressed per common share.

	Current Distribution	% Breakdown of the Current Distribution	Total Cumulative Distributions for the Fiscal Year to Date	% Breakdown of the Total Cumulative Distributions for the Fiscal Year to Date
Net Investment Income	$0.00	0%	$0.00	0%
Net Realized Short-Term Capital Gains	$0.00	0%	$0.00	0%
Net Realized Long-Term Capital Gains	$0.00	0%	$0.00	0%
Return of Capital	$0.15525	100%	$0.3105	100%
Total (per common share)	$0.15525	100%	$0.3105	100%

Average annual total return (in relation to NAV) for the 5-year period ending on November 30, 2020	3.09%
Annualized current distribution rate expressed as a percentage of NAV as of November 30, 2020	10.58%
Annualized current distribution rate expressed as a percentage of PRICE as of November 30, 2020	13.44%
Cumulative total return (in relation to NAV) for the fiscal year through November 30, 2020	27.32%
Cumulative fiscal year distributions as a percentage of NAV as of November 30, 2020	5.29%

No conclusions should be drawn about
the Fund’s
investment performance from the amount of the Fund’s distributions or from the terms of the
MDP
.

The amount distributed per share is subject to change at the discretion of the Board. The MDP is subject to ongoing review by the Board to determine whether it should be continued, modified or terminated. The Board may amend the terms of the MDP, suspend the MDP, or terminate the MDP at any time without prior notice to the Fund’s stockholders if it deems such actions to be in the best interest of the Fund or its stockholders. The amendment or termination of the MDP could have an adverse effect on the market price of the Fund’s shares.

With each distribution that does not consist solely of net investment income, the Fund will issue a notice to stockholders and an accompanying press release that will provide detailed information regarding the amount and composition of the distribution and other related information. The amounts and sources of distributions reported in the notice to stockholders are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during its full fiscal year and may be subject to changes based on tax regulations. The Fund will send stockholders a Form 1099-DIV for the respective calendar year that will tell them how to report these distributions for federal income tax purposes. Stockholders should consult their tax advisor for proper tax treatment of the Fund’s distributions.

About Thomas J. Herzfeld Advisors, Inc.

TJHA, founded in 1984, is an SEC registered investment advisor, specializing in investment analysis and account management in closed-end funds. The Firm also specializes in investment in the Caribbean Basin. The HERZFELD/CUBA division of Thomas J. Herzfeld Advisors, Inc. serves as the investment advisor to The Herzfeld Caribbean Basin Fund, Inc. a publicly traded closed-end fund (NASDAQ: CUBA).

More information about the advisor can be found at www.herzfeld.com.

Past performance is no guarantee of future performance. An investment in the Fund is subject to certain risks, including market risk. In general, shares of closed-end funds often trade at a discount from their net asset value and at the time of sale may be trading on the exchange at a price which is more or less than the original purchase price or the net asset value. An investor should carefully consider the Fund’s investment objective, risks, charges and expenses. Please read the Fund’s disclosure documents before investing.

Forward-Looking Statements

This press release, and other statements that
Thomas J. Herzfeld Advisors, Inc. (“TJHA”) or the Fund may make, may contain forward looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Fund’s or TJHA’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions. TJHA and the Fund caution that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and TJHA and the Fund assume no duty to and do not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. With respect to the Fund, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, particularly with respect to Cuba and other Caribbean Basin countries, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Fund or in the Fund’s net asset value; (2) the relative and absolute investment performance of the Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to the Fund or TJHA, as applicable; (8) terrorist activities, international hostilities and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or TJHA or the Fund; (9) TJHA’s and the Fund’s ability to attract and retain highly talented professionals; (10) the impact of TJHA electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions. Annual and Semi-Annual Reports and other regulatory filings of the Fund with the SEC are accessible on the SEC’s website at www.sec.gov and on TJHA’s website at www.herzfeld.com/cuba, and may discuss these or other factors that affect the Fund. The information contained on TJHA’s website is not a part of this press release.

Contact:
Tom Morgan
Chief Compliance Officer
Thomas J. Herzfeld Advisors, Inc.
1-305-777-1660

December 8, 2020 4:18 pm

International Money Express, Inc. Names Ernesto Luciano as General Counsel and Chief Compliance Officer

MIAMI, Dec. 08, 2020 (GLOBE NEWSWIRE) — International Money Express, Inc. (NASDAQ: IMXI) (the “Company”) (Intermex), a leading money remittance services company, today announced the appointment of Ernesto Luciano as the company’s new general counsel and chief compliance officer. Ernesto will be assuming the administrative and compliance responsibilities from Jose Perez-Villarreal, the Company’s current chief administrative and compliance officer who will be retiring later this month.

Chairman, Chief Executive Officer and President Bob Lisy said, “Ernesto Luciano brings a strong background of extensive experience with cross-border transactions, intellectual property, software licensing and technology law, dealing with multi-million dollar commercial agreements.” Lisy added, “Ernesto’s experience working on business development and strategy with senior leadership teams will be a significant asset to Intermex as we continue to grow and expand our suite of services and geographies.” Lisy went on to add, “I would also like to thank Jose for his 20 years of service and valuable contributions in helping to build our compliance organization and to create a strong culture of compliance throughout the entire Company.”

With 20 years of legal experience, Luciano comes to Intermex from Kaplan Higher Education, LLC where he was the vice president & associate general counsel, which he held since 2016. While at Kaplan, he was the lead attorney and led a legal team dealing with a vast array of complex commercial transactions, in which he developed business oriented legal solutions for internal business clients. Prior to Kaplan, Luciano was general counsel for Verizon Media’s U.S. Hispanic and Latin American division and also held senior legal positions with Home Box Office, Inc. (HBO), Gilat Satellite Networks Ltd., and Turner Broadcasting Systems (TBS), among others. Luciano earned his Bachelor of Arts degree from the State University of New York at Albany, his Juris Doctor (J.D.) from the New England School of Law in Boston, Massachusetts, and completed all course work for his Master of Laws from the University of Miami School of Law.

About
International Money Express
, Inc.

At International Money Express, Inc. (NASDAQ: IMXI), the customer is at the center of everything we do. We use proprietary technology that enables consumers to send money primarily from the United States and Canada to 17 countries in Latin America, including Mexico and Guatemala, seven countries in Africa and most recently two countries in Asia. We offer the digital movement of money for our sending customers through our network of agent retailers in the US and Canada, as well as our company-operated stores. We terminate and pay these transactions through thousands of retail and bank locations in Latin America, Africa and Asia. Our services are also available on-line through our app, and our website intermexonline.com. The Company was founded in 1994 and is headquartered in Miami, Florida with international offices in Puebla, Mexico, and Guatemala City, Guatemala.

Investor Relations:

Mike Gallentine
Vice President of Investor Relations
tel: 305-671-8005
[email protected]

December 8, 2020 4:18 pm

ACM Research to Participate in the 12th Annual Virtual CEO Investor Summit 2020

FREMONT, Calif., Dec. 08, 2020 (GLOBE NEWSWIRE) — ACM Research, Inc. (NASDAQ:ACMR), a leading supplier of wafer cleaning technologies for advanced semiconductor devices, today announced that its management team will participate in the 12^th Annual CEO Summit, being held virtually this year on Wednesday, December 16, 2020.

The CEO Summit is hosted by executive management from participating companies and will feature a virtual “round-robin” format consisting of small group meetings, each 40 minutes in duration. Each company will be available for up to six meeting slots during the conference, while investors and analysts will have the opportunity to meet with 12 of the participating management teams from 8:15a.m. until 5:15p.m. EST on December 16^th.

The Virtual CEO Summit is by invitation only and is open to accredited investors and publishing research analysts. As space is limited, please RSVP early. Hosts reserve the right to limit attendance as necessary. Advance registration and company meeting selection is required. The last day for registration is December 10, 2020.

RSVP Contacts for 12
^th
Annual
Virtual CEO Summit 2020

To RSVP for the Virtual Summit, please contact either of the Summit’s co-chairs.

Laura J. Guerrant-Oiye	Claire E. McAdams
Guerrant Associates	Headgate Partners LLC
Phone: (808) 960-2642	Phone: (530) 265-9899
Email: [email protected]	Email: [email protected]

About ACM Research, Inc.

ACM Research develops, manufactures and sells semiconductor process equipment for single-wafer or batch wet cleaning, electroplating, stress-free polishing and thermal processes that are critical to advanced semiconductor device manufacturing, as well as wafer-level packaging. The company is committed to delivering customized, high performance, cost-effective process solutions that semiconductor manufacturers can use in numerous manufacturing steps to improve productivity and product yield.

© ACM Research, Inc. The ACM Research logo is a trademark of ACM Research, Inc. For convenience, this trademark appears in this press release without a ™ symbol, but that practice does not mean that ACM Research will not assert, to the fullest extent under applicable law, its rights to such trademark.

For investor and media inquiries, please contact:

In the United States:	The Blueshirt Group
	Ralph Fong
	1 (415) 489-2195
	[email protected]

In China:	The Blueshirt Group Asia
	Gary Dvorchak, CFA
	+86 (138) 1079-1480
	[email protected]

December 8, 2020 4:18 pm

America’s Car-Mart Announces Rebranding and Transitions from “Drive Easy” to “Keeping You on the Road”

Rogers, Arkansas , Dec. 08, 2020 (GLOBE NEWSWIRE) —

America’s Car-Mart, one of the largest publicly-held automotive retailers in the “Integrated Auto Sales and Finance” segment, announced today its new visual identity and tagline that reaffirms the company’s unwavering commitment to its customers and communities. The rebrand represents a significant step in the company’s evolution as a prominent leader in the used car market.

“We believe our purpose is to serve hard-working Americans by providing them with quality, used vehicles,” said Jeff Williams, President and Chief Executive Officer. “Every day, we strive to do whatever we can to keep our customers on the road and provide them with peace of mind – from the time they walk onto our lot and buy a vehicle to when they collect the title to their vehicle. We’re with them every step of the way on that journey. We keep them on the road.”

Car-Mart’s new tagline, ‘Keeping You on the Road’, is an all-encompassing definition of what Car-Mart delivers to its customers. It is a commitment and a promise the company will do whatever it takes to provide customers with excellent service, care and compassion before, during and after the vehicle sale.

The new logo, while staying with its red, white and blue color scheme, depicts a graphic of the open road, a uniquely American symbol, which conveys freedom and possibilities that come with owning a vehicle. The highway icon forms the letter “A” that signifies the American spirit.

“We understand that owning a vehicle is an essential part of everyday life. A vehicle is about getting people to work, taking children to school and the ability to visit new places,” Mr. Williams said. “In short, ‘Keeping You on the Road’ represents freedom to us and it’s what we offer our customers.”

About the rebranding effort

Car-Mart’s rebranding was developed through an internal collaborative process. Associates helped select the final version of the new logo. The new logo and tagline will be featured on all Car-Mart dealerships including internal and exterior signage, as well as Car-Mart’s website and social media channels.

“It’s been over ten years since we’ve updated our look and feel. The time was right to better define what we stand for as a company,” said Dan Burks, Vice President of Customer Experience. “Our ‘Keeping You on the Road’ tagline is proof positive that we go to work every day to take care of our customers.”

For more information about Car-Mart’s rebranding effort, go to “Keeping You on the Road” on the Company’s website at https://www.car-mart.com.

America’s Car-Mart operates automotive dealerships in twelve states and is one of the largest publicly-held automotive retailers in the United States focused exclusively on the “Integrated Auto Sales and Finance” segment of the used car market. The Company specializes in the sale of quality, pre-owned vehicles, and features flexible used car financing options for customers with bad credit, no credit, repossessions or even past bankruptcy and emphasizes superior customer service and the building of strong personal relationships with its customers. The Company operates its dealerships primarily in smaller cities throughout the South-Central United States selling quality used vehicles and providing financing for substantially all of its customers. For more information about America’s Car-Mart, including investor presentations, please visit our website at www.car-mart.com.

Car-Mart was named to the Forbes America’s Best Mid-Size Employers list for two consecutive years in 2019 and 2018 and has sold over 700,000 vehicles since fiscal year 2000.

Contacts:Jeff Williams, CEO at (479) 464-9944 or Vickie Judy, CFO at (479) 464-9944

December 8, 2020 4:18 pm

ProPhase Labs Expands COVID-19 Testing Capacity with New 25,000 Square Feet Testing Facility in Garden City, New York

Company Expands to Meet Anticipated Demand for Increased Molecular Testing From New Business Opportunities – Aiming For Capacity to Process 50,000 Tests per Day

Doylestown, PA, Dec. 08, 2020 (GLOBE NEWSWIRE) — ProPhase Labs, Inc. (NASDAQ: PRPH), a diversified medical science and technology company, today announced that it has continued its CLIA Lab rollout with the execution of a lease for a 25,000 square foot facility in Garden City, New York. This new lab, like the Company’s first lab in Old Bridge, New Jersey, will provide a wide range of laboratory testing services for diagnosis, screening and evaluation of diseases, including COVID-19 and Respiratory Pathogen Panel (“RPP”) Molecular tests.

The Company reported that the equipment needed to outfit the Garden City lab has already been ordered and the Company is in the process of recruiting and hiring the necessary technical staff to operate the new lab. When fully ramped up, the new facility could bring as many as 100 new jobs to Garden City, New York.

Ted Karkus, CEO of ProPhase Labs, stated: “We expect to be able to start processing COVID-19 tests in our new lab by mid-January and are seeking to build capacity to process up to 50,000 COVID-19 tests per day by the end of Q1 2021. We are also ahead of schedule with the development of our first CLIA lab in New Jersey. Our original goal was to have capacity there to process 8,000 to 10,000 tests per day in Q1 2021. We will achieve this goal well before year-end. Future goals include diversification into other areas of high margin diagnostic molecular testing.”

New Business

“I am also pleased to report that several new accounts have commenced processing tests at our New Jersey facility this week,” stated Mr. Karkus. “These new accounts present a significant growth opportunity for us. In addition, our pipeline of new customer prospects is robust. Based on this momentum, it is feasible that demand in Q1 2021 could surpass our near-term New Jersey lab capacity. That is part of the reason for investing in a high capacity Garden City facility.” Mr. Karkus cautioned that there can be no assurance that the Company will be able to attract sufficient business to utilize the anticipated capacity of the Company’s labs.

Mr. Karkus added: “Our goal is to provide highly competitive pricing to our customers and to be able to report test results, in most cases, within 24 hours, and to process tests seven days per week. In fact, customers using courier services may be able to receive same day tests results. These stated goals already are generating significant interest in our testing services. Our newest customers include a well-known East Coast group of Urgent Care Centers, film production studios and testing services for a large mid-western municipality. Spectrum Solutions is a major producer of high-quality test kits. Because we are qualified to process their test kits, there is increased interest in our labs from Spectrum Solutions customers as a source for reliable processing, competitive pricing and quick turn-around.”

Mr. Karkus noted that if the Company is able to execute on these opportunities – and he is optimistic the Company is in fact able to do so – there would be a significant favorable impact on revenues. He observed that in this industry, pre-tax operating income in the range of $30 per test kit processed are not uncommon, and that the Company’s next goal is to acquire sufficient new business to process up to 10,000 tests per day, seven days a week, before the end of Q1 2021.

Nationwide Demand for Testing Capacity

According to a recent article in USA Today on November 27, 2020 titled “The demand for COVID-19 testing is up, stressing labs and delaying results,” turnaround times for coronavirus tests are on the rise again. Amid a record demand for testing ahead of the Thanksgiving weekend, Quest Diagnostics said this week that it’s taking up to three days to complete a test after receiving a sample. LabCorp, another large private lab company, said higher testing demand means it now takes up to two days to complete a test. These turnarounds do not include the additional time it takes a person to schedule and get a test at a doctor’s office, urgent care facility or other sites. Several sites across the nation this week had long lines of people waiting to get tested.

About ProPhase Labs

ProPhase Labs (NASDAQ: PRPH) is a diversified medical science and technology company with deep experience with OTC consumer healthcare products and dietary supplements. The Company is engaged in the research, development, manufacture, distribution, marketing and sale of OTC consumer healthcare products and dietary supplements in the United States. This includes the development and marketing of dietary supplements under the TK Supplements^® brand. The Company is also developing ProPhase Diagnostics, Inc. (“ProPhase Diagnostics”) to offer COVID-19 and other Respiratory Pathogen Panel (RPP) Molecular tests. The Company also continues to actively pursue strategic investments and acquisition opportunities for other companies, technologies and products. For more information visit us at www.ProPhaseLabs.com.

Forward Looking Statements

Except for the historical information contained herein, this document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our staffing plans for the new New York lab, our ability to ramp up lab testing capacity our ability to provide competitive pricing and and timely test results, our ability to attract customers for our testing services, our expectations regarding growth in revenue and earnings and net margin goals. Management believes that these forward-looking statements are reasonable as and when made. However, such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those projected in the forward-looking statements. These risks and uncertainties include but are not limited to the scale, scope and duration of the COVID-19 pandemic, the ability of the Company to attract and retain customer accounts, consumer demand for our lab processing services, the competitive environment, the ability to achieve anticipated margins, attracting and retaining qualified staff, challenges relating to entering into new business lines, the failure to obtain certain regulatory approvals, our ability to ramp up our lab’s testing capacity and execute on our business plan, our ability to obtain necessary equipment and raw materials, and the risk factors listed from time to time in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and any subsequent SEC filings.

Investor Contact

Chris Tyson
Managing Director
MZ Group – MZ North America
949-491-8235
[email protected]
www.mzgroup.us

December 8, 2020 4:17 pm

Energizer Holdings, Inc. Announces Conditional Full Redemption of 7.750% Senior Notes Due 2027

PR Newswire

ST. LOUIS, Dec. 8, 2020 /PRNewswire/ — Energizer Holdings, Inc. (NYSE: ENR) (the “Company”) today announced that it will give a notice of conditional redemption to redeem all $600 million principal amount outstanding of its 7.750% Senior Notes due 2027 (the “Notes”) pursuant to the terms of the indenture governing the Notes (the “Redemption”). The Redemption is conditioned upon, among other things, the consummation of a senior secured incremental term loan credit facility in an aggregate principal amount of $650 million under an amended and restated credit agreement to be entered into on or around December 22, 2020 on terms and conditions satisfactory in all respects to the Company in its sole discretion.

The date the Company has fixed for the Redemption is January 8, 2021, which may be delayed by the Company in its sole discretion in accordance with the terms of the indenture governing the Notes (such date, as it may be so delayed, the “redemption date”), subject to the conditions for redemption being satisfied or waived. The aggregate redemption price for the Notes will be equal to 100% of the principal amount of the Notes redeemed plus a “make-whole” premium calculated as set forth in the Notes and the indenture governing the Notes, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. The redemption price for the Notes will be calculated no later than two business days prior to the redemption date in accordance with the terms of the Notes.

This press release does not constitute a notice of redemption under the indenture governing the Notes or an obligation to issue a notice of redemption. Any such notice, if given, will only be given in accordance with the provisions of the indenture governing the Notes.

About Energizer Holdings, Inc.

Energizer Holdings, Inc. (NYSE: ENR), headquartered in St. Louis, Missouri, is one of the world’s largest manufacturers and distributors of primary batteries, portable lights, and auto care appearance, performance, refrigerant, and fragrance products. Our portfolio of globally recognized brands include Energizer®, Armor All®, Eveready®, Rayovac®, STP®, Varta®, A/C Pro®, Refresh Your Car! ®, California Scents®, Driven®, Bahama & Co. ®, LEXOL®, Eagle One®, Nu Finish®, Scratch Doctor®, and Tuff Stuff®. As a global branded consumer products company, Energizer’s mission is to lead the charge to deliver value to our customers and consumers better than anyone else.

Forward-Looking Statements

This document contains both historical and forward-looking statements. Forward-looking statements are not based on historical facts but instead reflect our expectations, estimates or projections concerning future results or events, including, without limitation, the future sales, gross margins, costs, earnings, cash flows, tax rates and performance of the Company. These statements generally can be identified by the use of forward-looking words or phrases such as “believe,” “expect,” “expectation,” “anticipate,” “may,” “could,” “intend,” “belief,” “estimate,” “plan,” “target,” “predict,” “likely,” “should,” “forecast,” “outlook,” or other similar words or phrases. These statements are not guarantees of performance and are inherently subject to known and unknown risks, uncertainties and assumptions that are difficult to predict and could cause our actual results to differ materially from those indicated by those statements. We cannot assure you that any of our expectations, estimates or projections will be achieved. The forward-looking statements included in this document are only made as of the date of this document and we disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances. Numerous factors could cause our actual results and events to differ materially from those expressed or implied by forward-looking statements, including those described under the heading “Risk Factors” in our Form 10-K filed with the Securities and Exchange Commission on November 17, 2020, and other risks and uncertainties detailed from time to time in our other publicly filed documents. In addition, other risks and uncertainties not presently known to us or that we consider immaterial could affect the accuracy of any such forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty.

View original content to download multimedia:http://www.prnewswire.com/news-releases/energizer-holdings-inc-announces-conditional-full-redemption-of-7-750-senior-notes-due-2027–301188837.html

SOURCE Energizer Holdings, Inc.

December 8, 2020 4:17 pm

Curis Announces Proposed Public Offering of Common Stock

PR Newswire

LEXINGTON, Mass., Dec. 8, 2020 /PRNewswire/ — Curis, Inc. (NASDAQ: CRIS), a biotechnology company focused on the development of innovative therapeutics for the treatment of cancer, today announced its intention to offer and sell shares of its common stock in an underwritten public offering pursuant to an existing shelf registration statement. Curis intends to grant the underwriters a 30-day option to purchase additional shares in an amount of up to 15% of the shares sold in the public offering, on the same terms and conditions.

Cantor Fitzgerald & Co. and JonesTrading Institutional Services LLC are acting as joint lead book runners.

Curis intends to use the net proceeds from the public offering, together with its existing cash and cash equivalents, to continue development of CA-4948, in collaboration with Aurigene, and CI-8893, in collaboration with ImmuNext, and for general working capital and capital expenditures.

The securities in the public offering described above are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-224627) that was filed with the United States Securities and Exchange Commission (“SEC”) on May 3, 2018, and declared effective by the SEC on May 17, 2018. The offering can be made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus may also be obtained by contacting Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Ave., 6^th Floor, New York, New York 10022 or by email at [email protected].

The securities described above have not been qualified under any state blue sky laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Curis, Inc.

Curis is a biotechnology company focused on the development of innovative therapeutics for the treatment of cancer. In 2015, Curis entered into a collaboration with Aurigene in the areas of immuno-oncology and precision oncology. As part of this collaboration, Curis has exclusive licenses to oral small molecule antagonists of immune checkpoints including the VISTA/PDL1 antagonist CA-170, and the TIM3/PDL1 antagonist CA-327, as well as the IRAK4 kinase inhibitor, CA-4948. CA-4948 is currently undergoing testing in a Phase 1 trial in patients with non-Hodgkin lymphoma and in a Phase 1 trial in patients with acute myeloid leukemia and myelodysplastic syndromes. In addition, Curis is engaged in a collaboration with ImmuNext for development of CI-8993, a monoclonal anti-VISTA antibody, which is currently undergoing testing in a Phase 1a/1b trial in patients with solid tumors. Curis is also party to a collaboration with Genentech, a member of the Roche Group, under which Genentech and Roche are commercializing Erivedge^® for the treatment of advanced basal cell carcinoma.

Forward-Looking Statements:

Any statements in this press release about future expectations, plans and prospects for Curis, Inc., including statements about Curis’s anticipated public offering, anticipated use of proceeds and plans and prospectus for Curis, and other statements containing the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” “seek,” “strategy,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements. Factors that may cause such a difference include, without limitation, risks and uncertainties related to whether or not Curis will be able to raise capital through the sale of shares of common stock, the final terms of the proposed offering, market and other conditions, the satisfaction of customary closing conditions related to the proposed public offering and the impact of general economic, industry or political conditions in the United States or internationally. There can be no assurance that Curis will be able to complete the proposed public offering on the anticipated terms, or at all. You should not place undue reliance on these forward-looking statements. Additional risks and uncertainties relating to the proposed public offering, Curis and its business can be found under the caption “Risk Factors” included in Curis’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, Curis’s preliminary prospectus supplement to be filed with the SEC on December 8, 2020, and in other filings that Curis periodically makes with the SEC. In addition, the forward-looking statements included in this press release represent Curis’s views as of the date hereof. Curis anticipates that subsequent events and developments will cause Curis’s views to change. However, while Curis may elect to update these forward-looking statements at some point in the future, Curis specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Curis’s views as of any date subsequent to the date hereof.

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SOURCE Curis, Inc.

December 8, 2020 4:15 pm

JPMorgan Chase Declares Common Stock Dividend

JPMorgan Chase Declares Common Stock Dividend

NEW YORK–(BUSINESS WIRE)–
The Board of Directors of JPMorgan Chase & Co. (NYSE: JPM) (“JPMorgan Chase” or the “Firm”) declared a quarterly dividend on the outstanding shares of the common stock of JPMorgan Chase. Information can be found on the Firm’s Investor Relations website at jpmorganchase.com/press-releases.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $3.2 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201208006117/en/

Investor Contact:

Jason Scott

212-270-2479

Media Contact:

Joseph Evangelisti

212-270-7438

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

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December 8, 2020 4:14 pm

Phreesia Announces Fiscal Third Quarter 2021 Results

Phreesia Announces Fiscal Third Quarter 2021 Results

NEW YORK–(BUSINESS WIRE)–
Phreesia, Inc. (NYSE: PHR) (“Phreesia”) announced financial results today for the fiscal third quarter ended October 31, 2020.

“Our third quarter results reflect our entire team’s commitment to our clients and Phreesia’s mission of creating a better, more engaging healthcare experience,” said Phreesia CEO Chaim Indig.

Fiscal Third Quarter 2021 Highlights

Revenue was $38.5 million in the quarter as compared to $32.8 million in the same period in the prior year, an increase of 17%.
Average number of provider clients was 1,737 in the quarter as compared to 1,573 in the same period in the prior year, an increase of 10%.
Average revenue per provider client was $17,490 in the quarter compared to $16,637 in the same period in the prior year, an increase of 5%.
Adjusted EBITDA was positive $1.2 million in the quarter compared to positive $3.0 million in the same period in the prior year.
Cash and cash equivalents as of October 31, 2020 was $254.1 million, an increase of $163.8 million compared to January 31, 2020, driven primarily by our follow-on offering of common stock, which generated net proceeds of $174.5 million.

Conference Call Information

The Company will host a conference call and webcast on Wednesday, December 9, 2020, at 8:30 a.m. Eastern Time to review the quarterly results. To participate in Phreesia’s live conference call and webcast, please dial (866) 211-4557, or (647) 689-6750 for international participants, using conference code number 2375761, or visit the “Events & Presentations” section of ir.phreesia.com. A replay of the call will be available via webcast for on-demand listening shortly after the completion of the call, at the “Events & Presentations” section of ir.phreesia.com, and will remain available for approximately 90 days.

Recent Events

COVID-19

In December 2019, an outbreak of a novel strain of coronavirus (COVID-19) originated in Wuhan, China and spread to a number of other countries, including the United States and Canada. In March 2020, the World Health Organization declared the COVID-19 outbreak a pandemic and the United States declared a national emergency with respect to COVID-19. The impact of the outbreak has been rapidly evolving and has led to the implementation of various responses, including government-imposed quarantines, travel restrictions, business and school closures and other public health safety measures. It has also disrupted the normal operations of many businesses, including ours. COVID-19 has also disrupted, and we believe will continue to disrupt, the normal operations of our clients, which are primarily healthcare providers. Because our business relies, in part, on the growth and success of our clients, any disruption to our clients’ operations will impact our revenue as follows:

Subscription and related services: Disruptions to provider operations, including travel restrictions and provider office closures, impact our subscription and related services revenue because of disruptions to sales processes and client implementations.
Payment processing: The decline in non-essential and elective patient visits directly impacts the revenue we receive from payment processing tools.
Life sciences: Because our life sciences revenue is driven by the number of patients receiving targeted messages, a decline in patient visits may impact our revenue earned through patient engagement.

Beginning in early September 2020, we saw patient visits return to pre-pandemic levels as some of the restrictions and other safety measures have been lifted. We have seen positive trends as a result of our ability to use our Platform and solutions to assist our healthcare provider clients as they implement new safety protocols in order to continue to see patients, including minimizing contact during intake of patients, mobile check-in, transitioning patients to telehealth visits and enabling providers to screen patients for COVID-19 risk factors. Our COVID-19 module was used in over 30 million patient screenings between February 10, 2020 and November 30, 2020.

Given the unknown timeline and the near-term uncertainty of COVID-19 on our business, there continues to be uncertainty as to the extent to which the global COVID-19 pandemic may adversely impact our business operations, financial performance, and results of operations at this time. Further, due to recent surges of COVID-19 cases in many states, or a second wave, we may see quarantines and additional restrictions being put in place again, which could impact patient visits across our provider clients similar to the trends during the earlier periods of the pandemic.

Principal Executive Offices

In March 2020, in the wake of the pandemic, we prepared the Company for indefinite remote work. Consistent with our long-term plans for remote work, we made the decision to allow our New York City Office lease to expire at the end of January 2021. We will continue to have a significant employee presence in the New York City area, including our Chief Executive Officer and our Chief Operating Officer. However, effective December 9, 2020, our Raleigh, North Carolina office will become our principal executive offices.

Outlook for Fiscal 2021 and Fiscal 2022

For the full fiscal year 2021, ending January 31, 2021, the Company expects to report revenue of $146 to $147 million. For the full fiscal year 2022, ending January 31, 2022, the Company expects revenue to grow between 20 and 25 percent over fiscal year 2021.

Phreesia, Inc. Balance Sheets in thousands, except for shares and per share data

	October 31, 2020			January 31, 2020
	(unaudited)
Assets
Current:
Cash and cash equivalents	$	254,118		$	90,315
Settlement assets	12,267			12,368
Accounts receivable, net of allowances	27,594			21,978
Deferred contract acquisition costs	1,708			1,720
Prepaid expenses and other current assets	6,825			5,157
Total current assets	302,512			131,538
Property and equipment, net of accumulated depreciation and amortization of $42,665 and $35,551	19,160			14,487
Capitalized internal-use software, net of accumulated amortization of $23,907 and $19,554	9,986			8,735
Operating lease right-of-use assets (1)	3,192			—
Deferred contract acquisition costs	1,227			1,594
Intangible assets, net of accumulated amortization of $450 and $271	1,020			1,199
Deferred tax assets	496			775
Goodwill	250			250
Other assets	207			180
Total assets	$	338,050		$	158,758
Liabilities and Stockholders’ Equity
Current:
Settlement obligations	$	12,267		$	12,368
Current portion of debt and finance lease liabilities	4,722			2,324
Current portion of operating lease liabilities (1)	1,288			—
Accounts payable	4,215			6,017
Accrued expenses	12,662			9,243
Deferred revenue	6,623			5,401
Total current liabilities	41,777			35,353
Long-term debt and finance lease liabilities	24,439			21,540
Operating lease liabilities, noncurrent (1)	2,158			—
Total liabilities	68,374			56,893
Commitments and contingencies
Stockholders’ Equity:
Common stock, $0.01 par value—500,000,000 shares authorized as of October 31, 2020 and January 31, 2020, respectively; 44,039,563 and 36,610,763 shares issued and outstanding as of October 31, 2020 and January 31, 2020, respectively	440			366
Additional paid-in capital	573,786			386,383
Accumulated deficit	(303,681		)	(284,485		)
Treasury stock	(869		)	(399		)
Total Stockholders’ Equity	269,676			101,865
Total Liabilities and Stockholders’ Equity	$	338,050		$	158,758
(1) Figures as of October 31, 2020 reflect the Company’s February 1, 2020 adoption of Accounting Standards Codification 842, Leases (ASC 842).

Phreesia, Inc. Unaudited Statements of Operations (in thousands, except for shares and per share data)

	Three months ended October 31,						Nine months ended October 31,
	2020			2019			2020			2019
Revenue:
Subscription and related services	$	17,468		$	14,606		$	50,196		$	41,292
Payment processing fees	12,917			11,559			36,452			34,781
Life sciences	8,079			6,678			20,221			15,895
Total revenues	38,464			32,843			106,869			91,968
Expenses:
Cost of revenue (excluding depreciation and amortization)	6,472			4,388			16,477			12,594
Payment processing expense	7,530			6,902			21,125			20,952
Sales and marketing	10,481			8,348			30,013			24,170
Research and development	5,732			4,774			16,267			13,762
General and administrative	10,370			7,184			28,721			20,849
Depreciation	2,447			2,153			7,125			6,444
Amortization	1,546			1,325			4,531			3,823
Total expenses	44,578			35,074			124,259			102,594
Operating loss	(6,114		)	(2,231		)	(17,390		)	(10,626		)
Other income (expense)	62			77			(229		)	(740		)
Change in fair value of warrant liability	—			—			—			(3,307		)
Interest income (expense)	(467		)	(219		)	(1,206		)	(1,769		)
Total other income (expense)	(405		)	(142		)	(1,435		)	(5,816		)
Loss before provision for income taxes	(6,519		)	(2,373		)	(18,825		)	(16,442		)
Provision for income taxes	(194		)	(64		)	(371		)	(183		)
Net loss	$	(6,713	)	$	(2,437	)	$	(19,196	)	$	(16,625	)
Preferred stock dividend paid	—			—			—			(14,955		)
Accretion of redeemable preferred stock	—			—			—			(56,175		)
Net loss attributable to common stockholders, basic and diluted	$	(6,713	)	$	(2,437	)	$	(19,196	)	$	(87,755	)
Net loss per share attributable to common stockholders, basic and diluted	$	(0.17	)	$	(0.07	)	$	(0.51	)	$	(5.85	)
Weighted-average common shares outstanding, basic and diluted	38,511,370			35,790,951			37,855,503			15,007,247

Phreesia, Inc. Unaudited Statements of Cash Flows (in thousands, except for shares and per share data)

	Nine Months Ended October 31,
	2020			2019
Cash used in operating activities:
Net loss	$	(19,196	)	$	(16,625	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	11,656			10,267
Stock-based compensation expense	9,616			3,832
Change in fair value of warrants liability	—			3,307
Amortization of debt discount	318			412
Loss on extinguishment of debt	—			1,073
Cost of Phreesia hardware purchased by customers	604			512
Deferred contract acquisition costs amortization	2,280			1,465
Non-cash operating lease expense	1,228			—
Deferred tax asset	279			—
Changes in operating assets and liabilities
Accounts receivable	(5,616		)	(3,899		)
Prepaid expenses and other assets	(1,940		)	(2,943		)
Deferred contract acquisition costs	(1,901		)	(1,414		)
Accounts payable	(2,300		)	1,629
Accrued expenses and other liabilities	3,982			3,098
Lease liability	(1,419		)	—
Deferred revenue	1,222			(1,162		)
Net cash used in operating activities	(1,187		)	(448		)
Cash used in investing activities:
Capitalized internal-use software	(4,663		)	(4,329		)
Purchase of property and equipment	(6,440		)	(4,826		)
Net cash used in investing activities	(11,103		)	(9,155		)
Cash provided by financing activities:
Proceeds from issuance of common stock in equity offerings, net of underwriters’ discounts and commissions	174,800			130,781
Payment of preferred stock dividends	—			(14,955		)
Proceeds from issuance of common stock upon exercise of stock options	3,351			445
Purchase of treasury stock	(869		)	—
Payment of offering costs	(226		)	(5,944		)
Proceeds from revolving line of credit	—			9,876
Payments of revolving line of credit	—			(17,676		)
Proceeds from term loan	—			20,000
Repayment of term loan and loan payable	—			(21,042		)
Insurance financing arrangement	2,009			—
Principal portion of finance lease payments	(1,797		)	(1,624		)
Principal payments on financing arrangements	(881		)	—
Debt extinguishment costs	—			(300		)
Debt issuance costs	(69		)	(112		)
Loan facility fee payment	(225		)	—
Net cash provided by financing activities	176,093			99,449
Net increase in cash and cash equivalents	163,803			89,846
Cash and cash equivalents – beginning of period	90,315			1,543
Cash and cash equivalents – end of period	$	254,118		$	91,389
Supplemental information of non-cash investing and financing information:
Right-of-use assets recorded in exchange for operating lease liabilities (1)	$	4,420		$	—
Property and equipment acquisitions through finance leases	$	6,050		$	1,738
Capitalized software acquired through vendor financing	$	174		$	—
Purchase of property and equipment and capitalized software included in accounts payable	$	1,681		$	546
Issuance of warrants related to debt	$	—		$	833
Cashless transfer of term loan and related accrued fees into revolving credit facility	$	20,257		$	—
Cashless transfer of lender fees through increase in debt balance	$	406		$	—
Deferred offering costs included in accounts payable and accrued liabilities	$	64		$	—
Cashless exercise of common stock warrants	$	—		$	2,521
Cash payments for:
Interest	$	1,047		$	1,834
(1) Includes $2,741 initial right of use asset recorded upon adoption of ASC 842.

Non-GAAP financial measures

Adjusted EBITDA is a supplemental measure of our performance that is not required by, or presented in accordance with, GAAP. Adjusted EBITDA is not a measurement of our financial performance under GAAP and should not be considered as an alternative to net income or loss or any other performance measure derived in accordance with GAAP, or as an alternative to cash flows from operating activities as a measure of our liquidity. We define Adjusted EBITDA as net income or loss, before interest (income) expense, provision for income taxes, depreciation and amortization, and before non-cash stock-based compensation expense, non-cash change in fair value of warrant liability and other (income) expense.

We have provided below a reconciliation of Adjusted EBITDA to net loss, the most directly comparable GAAP financial measure. We have presented Adjusted EBITDA in this release and our Annual Report on Form 10-K because it is a key measure used by our management and board of directors to understand and evaluate our core operating performance and trends, to prepare and approve our annual budget, and to develop short and long-term operational plans. In particular, we believe that the exclusion of the amounts eliminated in calculating Adjusted EBITDA can provide a useful measure for period-to-period comparisons of our core business. Accordingly, we believe that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management and board of directors.

Our use of Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our financial results as reported under GAAP. Some of these limitations are as follows:

Although depreciation and amortization expense are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and Adjusted EBITDA does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements;
Adjusted EBITDA does not reflect: (1) changes in, or cash requirements for, our working capital needs; (2) the potentially dilutive impact of non-cash stock-based compensation; or (3) tax payments that may represent a reduction in cash available to us; (4) cash payments for interest and other non-operating expenses; and
Other companies, including companies in our industry, may calculate Adjusted EBITDA or similarly titled measures differently, which reduces its usefulness as a comparative measure.

Because of these and other limitations, you should consider Adjusted EBITDA along with other GAAP-based financial performance measures, including various cash flow metrics, net loss, and our GAAP financial results. The following table presents a reconciliation of Adjusted EBITDA to net loss for each of the periods indicated:

Phreesia, Inc. Adjusted EBITDA (Unaudited)

	Three Months ended October 31,						Nine Months ended October 31,
(in thousands, unaudited)	2020			2019			2020			2019
Net loss	$	(6,713	)	$	(2,437	)	$	(19,196	)	$	(16,625	)
Interest (income) expense	467			219			1,206			1,769
Depreciation and amortization	3,993			3,478			11,656			10,267
Stock-based compensation expense	3,316			1,766			9,616			3,832
Change in fair value warrant liability	—			—			—			3,307
Provision for income taxes	194			64			371			183
Other (income) expense	(62		)	(77		)	229			740
Adjusted EBITDA	$	1,195		$	3,013		$	3,882		$	3,473

Phreesia, Inc. Reconciliation of GAAP and Adjusted Operating Expenses (Unaudited)

	Three Months ended October 31,				Nine Months ended October 31,
(in thousands)	2020		2019		2020		2019
GAAP operating expenses
General and administrative	10,370		7,184		28,721		20,849
Sales and marketing	10,481		8,348		30,013		24,170
Research and development	5,732		4,774		16,267		13,762
Cost of revenue	6,472		4,388		16,477		12,594
	$	33,055	$	24,694	$	91,478	$	71,374
Stock compensation included in GAAP operating expenses
General and administrative	$	1,635	$	1,040	$	5,169	$	2,353
Sales and marketing	1,008		437		2,530		863
Research and development	470		232		1,494		485
Cost of revenue	203		57		423		131
	$	3,316	$	1,766	$	9,616	$	3,832
Adjusted operating expenses
General and administrative	$	8,735	$	6,144	$	23,552	$	18,496
Sales and marketing	9,473		7,911		27,483		23,307
Research and development	5,262		4,542		14,773		13,276
Cost of revenue	6,269		4,331		16,054		12,463
	$	29,739	$	22,928	$	81,862	$	67,542

Phreesia, Inc. Key Metrics (Unaudited)

	Three months ended October 31,				Nine months ended October 31,
	2020		2019		2020		2019
Key Metrics:
Provider clients (average over period)	1,737		1,573		1,679		1,560
Average revenue per provider client	$	17,490	$	16,637	$	51,604	$	48,768
Patient payment volume (in millions)	$	524	$	463	$	1,445	$	1,388

Provider clients. We define provider clients as the average number of healthcare provider organizations that generate revenue each month during the applicable period. In one specific case wherein, we act as a subcontractor providing white-label services to our partner’s clients, we treat this contractual relationship as a single provider client. We believe growth in the number of provider clients is a key indicator of the performance of our business and depends, in part, on our ability to successfully develop and market our platform to healthcare provider organizations that are not yet clients. While growth in the number of provider clients is an important indicator of expected revenue growth, it also informs our management of the areas of our business that will require further investment to support expected future provider client growth. For example, as the number of provider clients increases, we may need to add to our customer support team and invest to maintain effectiveness and performance of our platform and software for our provider clients and their patients.
Average revenue per provider client. We define average revenue per provider client as the total subscription and related services and payment processing revenue generated from provider clients in a given period divided by the average number of provider clients that generate revenue each month during that same period. We are focused on continually delivering value to our provider clients and believe that our ability to increase average revenue per provider client is an indicator of the long-term value of our existing provider client relationships.
Patient payment volume. We measure patient payment volume as the total dollar volume of transactions between our provider clients and their patients utilizing our payment platform, including via credit and debit cards, cash and check. Patient payment volume is a major driver of our payment processing revenue, and we believe that patient payment volume is an indicator of both the underlying health of our provider clients’ businesses and the continuing shift of healthcare costs to patients. Credit and debit patient payment volume processed through our payment facilitator model represented 80% and 82% of our patient payment volume in the three months ended October 31, 2020 and 2019, respectively. Credit and debit patient payment volume processed through our payment facilitator model represented 82% and 83% of our patient payment volume in the nine months ended October 31, 2020 and 2019, respectively. The remainder of our patient payment volume is composed of credit and debit transactions for which Phreesia acts as a gateway to another payment processor, and cash and check transactions.

Available Information

Phreesia intends to use its Company website (including its Investor Relations website) as well as its Facebook, Twitter and LinkedIn accounts as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

Forward Looking Statements

Statements we make in this press release may include statements which are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “going to,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these words or other similar terms or expressions that concern Phreesia’s plans, intentions, expectations, strategies and prospects. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including, without limitation, statements about our future financial performance, including our revenue, costs of revenue, operating expenses, cash flows and our business outlook for the fiscal years ended January 31, 2021 and 2022; our anticipated growth; our predictions about our industry; the impact of the COVID-19 pandemic on our business and our ability to attract, retain and cross-sell to healthcare provider clients. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in Phreesia’s filings with the Securities and Exchange Commission (“SEC”), including in our Annual Report on Form 10-K for the fiscal year ended January 31, 2020 and in our Quarterly Report on Form 10-Q that will be filed with the SEC following this earnings release. The forward-looking statements in this release are based on information available to Phreesia as of the date hereof, and Phreesia disclaims any obligation to update any forward-looking statements, except as required by law.

This press release includes certain non-GAAP financial measures as defined by SEC rules. We have provided a reconciliation of those measures to the most directly comparable GAAP measures.

ABOUT PHREESIA

Phreesia gives healthcare organizations a suite of robust applications to manage the patient intake process. Our innovative SaaS platform engages patients in their care and provides a modern, consistent experience, while enabling healthcare organizations to optimize their staffing, boost profitability and enhance clinical care.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201208006116/en/

Investors:

Balaji Gandhi

Phreesia, Inc.

[email protected]

(929) 506-4950

Media:

Maureen McKinney

Phreesia Inc.

[email protected]

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Technology Hospitals Software Practice Management Networks Managed Care Health General Health Data Management

MEDIA:

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December 8, 2020 4:14 pm

Nationally Ranked Litigation Firm Labaton Sucharow LLP Files Securities Class Action Against Changyou.com Ltd. (Previous Ticker: CYOU) and its Acquirer Sohu.com Limited (Nasdaq Ticker: SOHU) for Securities Violations

Nationally Ranked Litigation Firm Labaton Sucharow LLP Files Securities Class Action Against Changyou.com Ltd. (Previous Ticker: CYOU) and its Acquirer Sohu.com Limited (Nasdaq Ticker: SOHU) for Securities Violations

NEW YORK–(BUSINESS WIRE)–
Labaton Sucharow LLP (“Labaton Sucharow”) announces that on December 8, 2020, it filed a securities class action lawsuit on behalf of its client ODS Capital LLC (“ODS Capital”) against Changyou.com Limited (NYSE: CYOU) (“Changyou” or the “Company”) and certain of its executives, as well as its acquirer Sohu.com Limited (Nasdaq Ticker: SOHU) (collectively, “Defendants”). The action asserts claims under Sections 10(b), 13(e), and 20(a) of the Securities Exchange Act of 1934, and U.S. Securities and Exchange Commission Rules 10b-5 and 13e-3 promulgated thereunder, on behalf of all former owners of Changyou stock and American Depositary Shares (“ADSs”) who sold shares, and were damaged thereby, during the period between February 14, 2020 and April 23, 2020 inclusive (the “Class Period”).

On February 14, 2020, Changyou, Sohu.com Limited, Sohu.com (Game) Limited, and Changyou Merger Co. Limited jointly filed a Rule 13E-3 Transaction Statement under Section 13(e) of the Securities Exchange Act (the “Transaction Statement”). The Transaction Statement contained false and misleading information regarding the existence of dissenters’ rights (also known as appraisal rights) pursuant to Cayman Islands law.

For instance, The Transaction Statement stated in no uncertain terms:

No Dissenters’ or Appraisal Rights

As the Merger is a short-form merger under section 233(7) of the Cayman Islands Companies Law, and the vote of holders of the Company’s Shares (including ADSs) is not required to complete the Merger, the Unaffiliated Security Holders will not be able to exercise dissenters’ rights such as are afforded to shareholders of Cayman Islands companies pursuant to Section 238 of the Cayman Islands Companies Law with respect to mergers for which a shareholder vote is required. A copy of Section 238 of the Cayman Islands Companies Law is attached as Exhibit (f)(2) to this Transaction Statement for the information of the Unaffiliated Security Holders.

The Transaction Statement is false and misleading because it provided no support for such conclusion and it is at odds with the text of the relevant Cayman Islands statute regarding appraisal rights. Moreover, the Transaction Statement failed to disclose other rights that may be available to Changyou shareholders under Cayman Islands law, in clear violation of the federal securities laws.

On April 17, 2020, the Merger closed without the truth being revealed. Changyou ADS shares were exchanged for the cash consideration on April 23, 2020.

If you sold Changyou stock or ADSs during the Class Period, you are a member of the “Class” and may be able to seek appointment as Lead Plaintiff. Lead Plaintiff motion papers must be filed with the United States District Court for the Southern District of New York no later than February 8, 2021. The Lead Plaintiff is a court-appointed representative for absent members of the Class. You do not need to seek appointment as Lead Plaintiff to share in any Class recovery in this action. If you are a Class member and there is a recovery for the Class, you can share in that recovery as an absent Class member. You may retain counsel of your choice to represent you in this action.

If you would like to consider serving as Lead Plaintiff or have any questions about this lawsuit, you may contact David Schwartz of Labaton Sucharow, at (800) 321-0476, or via email at [email protected].

ODS Capital is represented by Labaton Sucharow, which represents many of the largest pension funds in the United States and internationally with combined assets under management of more than $2 trillion. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at www.labaton.com. You can view a copy of the complaint here.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201208006115/en/

David Schwartz

Labaton Sucharow

(800) 321-0476

[email protected]

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Legal Professional Services

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