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Encompass Health Exploring Strategic Alternatives for Home Health and Hospice Business

PR Newswire

BIRMINGHAM, Ala., Dec. 9, 2020 /PRNewswire/ — Encompass Health Corp. (NYSE: EHC) today announced that it is exploring strategic alternatives for its home health and hospice business. A range of options are under consideration, including the full or partial separation of the home health and hospice business from Encompass Health through an initial public offering, spin-off, merger, sale or other transaction.

“Since joining together with Encompass Home Health and Hospice in 2015, we have generated substantial growth in both our business segments, and we continue to deliver high-quality, cost-effective, integrated care to a growing number of our patients,” said President and Chief Executive Officer of Encompass Health Mark Tarr.

The Encompass Health board of directors has been evaluating an array of alternative strategies and structures and has elected to make this announcement as it proceeds with a more formalized process. No timetable has been established for the completion of the strategic review, and the Company does not intend to disclose further developments with respect to its strategic review process, unless and until its Board approves a specific transaction or action, or otherwise concludes the strategic review.

“Our primary focus this year has been to ensure Encompass Health’s best possible response to this unprecedented global pandemic,” said Chairman of the Encompass Health Board of Directors Lee Higdon. “This notwithstanding, the US healthcare delivery system continues to change, and we believe the time is appropriate for us to further reassess the corporate structure that may optimize the strategic positioning and growth of our businesses.”

Citi and Wachtell, Lipton, Rosen and Katz are advising the Company in connection with the strategic review.

About Encompass Health
As a national leader in integrated healthcare services, Encompass Health (NYSE: EHC) offers both facility-based and home-based patient care through its network of inpatient rehabilitation hospitals, home health agencies and hospice agencies. With a national footprint that includes 137 hospitals, 242 home health locations, and 83 hospice locations in 39 states and Puerto Rico, the Company provides high–quality, cost-effective integrated healthcare. Encompass Health is ranked as one of Fortune’s 100 Best Companies to Work For. For more information, visit encompasshealth.com, or follow us on our newsroom, Twitter and Facebook.

Forward Looking Statements

Statements contained in this press release which are not historical facts, such as those relating to the ongoing strategic review and its impact on Encompass Health’s business and stockholder value, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, Encompass Health, through its senior management, may from time to time make forward-looking public statements concerning the matters described herein. All such estimates, projections, and forward-looking information speak only as of the date hereof, and Encompass Health undertakes no duty to publicly update or revise such forward-looking information, whether as a result of new information, future events, or otherwise. Such forward-looking statements involve substantial risks and uncertainties about Encompass Health’s exploration of strategic alternatives for its home health and hospice business, including the potential benefits and timing thereof, and about the prospects and potential opportunities for its home health and hospice business. Such risks and uncertainties include, but are not limited to, the possibility that Encompass Health may not be able to realize higher values for its home health and hospice business through strategic transactions and therefore retains its current corporate and business structure; the possibility that Encompass Health may decide not to undertake a transaction following the review of strategic alternatives or that it is not able to consummate any proposed transactions resulting from the review due to, among other things, market, regulatory and other factors; the potential for disruption to Encompass Health’s business resulting from the review of strategic alternatives or the undertaking of any transactions following the review; Encompass Health’s ability to attract and retain key management personnel; any potential adverse effects on Encompass Health’s stock price resulting from the announcement of the strategic review or the results thereof, and, with regard to the prospects and potential opportunities for, and Encompass Health’s ability to enhance the value of its home health and hospice business, the uncertainties and variables inherent in business operating and financial performance, including, among other things, competitive and regulatory developments and general economic, political, business, industry, regulatory and market conditions. Additional risks and uncertainties are set forth in Encompass Health’s Form 10-K for the fiscal year ended December 31, 2019, the Form 10-Q for the quarters ended March 31, 2020, June 30, 2020 and September 30, 2020, and in other documents Encompass Health previously filed with the SEC, many of which are beyond Encompass Health’s control and may cause actual events or results to differ materially from the views, beliefs, and estimates expressed herein.

As such, you are cautioned not to place undue reliance on the estimates, projections and other forward-looking information in this press release, and a potential transaction and its effects as contemplated in this press release may differ materially from those anticipated in these forward-looking statements.

Media Contact:

Casey Lassiter | 205-447-6410
[email protected]

Investor Relations Contact:

Crissy Carlisle | 205-970-5860
[email protected]

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SOURCE Encompass Health Corp.

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Sapiens Enhanced StatementPro Application Streamlines NAIC Reporting

Significantly simplifies and automates complex process of reporting Notes to Financial Statements for National Association of Insurance Commissioners (NAIC) filings

PR Newswire

HOLON, Israel, Dec. 9, 2020 /PRNewswire/ — Sapiens Americas, a wholly owned subsidiary of Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, has announced the release of an enhanced feature for Sapiens StatementPro platform, which enables all components of Notes to Financial Statements reporting to be completed inside the software, eliminating the need for time-consuming data entry in a separate document.

Sapiens_Logo

All customers will receive the enhanced solution, which provides superior flexibility and processing efficiency for more robust annual and quarterly financial notes reporting for property & casualty; life, accident & health/fraternal; health and title companies. The enhancement provides the framework within the software to encapsulate the narrative and data captured elements, bringing StatementPro’s statement accumulation capabilities to a whole new level of sophistication.

“Some of our clients have told us that the notes section takes as long to complete as the rest of the Annual Statement,” said Julie Kramer, Vice President of Sapiens Financial and Compliance division. “This new enhancement will drastically reduce the time it takes to complete the notes freeform document while also offering additional benefits. Statutory accountants will greatly appreciate how the new feature makes their notes reporting a much more streamlined and effective process.”   

The enhanced solution also includes a hierarchical view of notes and sub-notes. The data entry for the traditionally data captured notes remains the same. Not only can users now navigate through the notes easier, more than one user can work on the notes components simultaneously.

Users will be able to mark notes as ‘not applicable’ or enter their own ‘not applicable’ phrase or text for notes and sub-notes. In addition, they will be able to group notes together to consolidate ‘not applicable’ notes. Notes can be tracked for completion and assigned to individuals/groups. Users are now able to incorporate tables or other source materials directly into the narrative notes or sub-notes.

About Sapiens

Sapiens International Corporation empowers insurers to succeed in an evolving industry. The company offers digital software platforms, solutions and services for the property & casualty, life, pension & annuity, reinsurance, financial & compliance, workers’ compensation and financial markets. With more than 35 years of experience delivering to over 500 organizations globally, Sapiens has a proven ability to satisfy customers’ core, data and digital requirements. For more information: www.sapiens.com.

Media Contact

Alex Zukerman

CMO and Chief of Strategy, Sapiens
+972-546-724-910
[email protected]

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SOURCE Sapiens International Corporation

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CBD OF DENVER, INC. (CBDD) 2020 Year In Review

PR Newswire

DENVER, Dec. 9, 2020 /PRNewswire/ — CBD of Denver, Inc. (OTC: CBDD), a full-line CBD and Hemp oil company (“CBDD”) selling Black Pearl CBD hemp products and a producer and distributor of CBD products in Switzerland today provides shareholders with a recap of the Company’s incredible progress during 2020.

In February 2020 Swiss Industry Ventures became majority shareholder of CBDD with a plan to develop revenue producing operations in Switzerland. Marcel Gamma, based in Switzerland became CEO of CBD of Denver, Inc. and Nicholas Sprung became president of the Company, continuing to direct US operations.

US operations focused on the Company’s Black Pearl CBD e-commerce website, maintaining an office in Centennial, Colorado.

Meanwhile, Swiss Industry Ventures brought its Rockflowr and CBDWelt24 CBD operations under the CBDD umbrella, selling these companies to CBDD in May and June 2020.

When Swiss Industry Ventures first became majority shareholder of CBDD the operational revenue of CBDD was less than $50,000 per year and the market cap was about $800,000. With the acquisition of CBDWelt24 and Rockflowr CBDD’s revenue rose to $517,025 for the quarter ended June 30, 2020, more than 10 times its projected annual revenue, even though it was only able to account for a portion of the total $1,893,688 in revenue its new Swiss subsidiaries generated, having acquired them more than halfway through the quarter. For the third quarter ended September 30, 2020, CBDD achieved revenue of $5,963,820 with a gross profit of $484,666. The market capitalization of CBDD is more than $40,000,000 as of December 8, 2020.

Over the past four weeks we have restructured our divisions to integrate all divisions with the same brand.

Rockflowr Exchange (formerly Rockflowr) is becoming one of the leading CBD wholesale companies in Switzerland and throughout Europe.

Rockflowr Production (formerly CBDWelt24), currently running two production facilities in Switzerland is planning to expand its production capacity by five times in 2021 and become a GMP-certified producer for medical cannabis and CBD.

Rockflowr Retail is planning to further expand into B2B and B2C markets. Rockflowr Retail has entered into an agreement with SPAR Switzerland, a Swiss grocery chain with 186 stores, for a 5-store pilot program featuring Rockflowr products. Rockflowr Retail will also expand its B2C business with a new e-commerce site while expanding its direct to consumer marketing.

Additionally, CBDD has begun taking certain corporate actions to improve transparency and enhance shareholder confidence. “We have been interviewing auditors for the past three weeks and are confident we will engage an auditor in December 2020 to audit our financial statements,” says CEO Marcel Gamma.  The Company is also exploring its options for moving to a more robust trading market.

“I am extremely proud of the progress we have made this year,” said CBDD CEO Marcel Gamma. “These are just the first steps on our journey to become one of the most successful CBD companies in Switzerland and Europe. We invite our shareholders to visit our operations and facilities in Switzerland. For those who can’t make it to Switzerland, I encourage you to follow us on Instagram: @CBDWelt24 @CBDofDenver_Inc @Rockflowr.”

CBDD is focused on using equity to acquire profitable Swiss assets at attractive valuations to create value for all our shareholders

CBDD offers a superior CBD product that is full spectrum without depending on THC to activate the benefits of cannabidiol. Black Pearl CBD has 0% THC, but is not an Isolate where the THC is stripped from the product rendering it ineffective. We use a proprietary technique adding terpenes as the activation ingredient, resulting in a product that is the finest in the industry.  CBDD just received word that their new ecommerce website is now operational with new products and can be found at www.blackpearlcbd.com.  

Information contained herein includes forward-looking statements. These statements relate to future events or future financial performance, involving known and unknown risks and you should not place undue reliance on these statements. Any forward-looking statement reflects our current views with respect to future events. We assume no obligation publicly about update or revise these forward-looking statements for any reason.

 

 

 

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SOURCE CBD of Denver, Inc.

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Genetec shares results of survey on the state of the physical security industry during pandemic

Insights from over 1,000 physical security leaders show adaptability in a time of crisis but a near-term view of technology and cybersecurity

MONTREAL, QC, CANADA, Dec. 09, 2020 (GLOBE NEWSWIRE) — Genetec Inc. (“Genetec”), a leading technology provider of unified security, public safety, operations, and business intelligence solutions, today shared the results of a state of the industry report based on insights from over 1,000 physical security leaders. The report looks at how the physical security industry is reacting to the threat of COVID-19, how security professionals are coping, and how day-to-day operations and plans are affected for the coming year.

Physical security industry challenges and priorities – in and out of the pandemic

Not surprisingly, the survey reveals that COVID-19 has led to a focus on security efforts to ensure the safety of people and facilities. For the majority of security professionals, the top three challenges during the pandemic are: managing employee/visitor safety; dealing with physical security threats (e.g. vandalism, theft, break-ins, etc.); and the remote management and securing of buildings.

However, while the pandemic has brought on numerous new challenges, the vast majority of organizations have had to face them creatively. The survey showed that 68% of respondents reported project delays/downsizing or cancellations this year; however looking into 2021 48% expect budgets to stay flat or increase with a focus on ongoing investment in existing systems and deployment of tools to support ongoing response to the pandemic. 

With pressing new requirements and more limited resources, physical security organizations are stressed but finding ways to pivot to address extraordinary circumstances. Using resourcefulness and creativity, many security professionals (48%) are looking to existing systems to help them face these new challenges.

“The security industry excels at planning for the unexpected, and while the pandemic took the world by surprise, our industry has shown extraordinary resilience and resourcefulness. We have seen so many of our customers and partners quickly adapt to the new needs and challenges posed by the situation. They’ve been able to repurpose and adapt their existing security infrastructure to meet some of the new challenges created by the pandemic,” said Pervez Siddiqui, Vice President of Business Development at Genetec, Inc.

Physical security is behind in cloud adoption

While 37% of respondents said they were evaluating new technologies, the adoption of cloud-technology continues to be slow in the physical security industry. In stark contrast with the accelerated adoption of cloud-based solutions observed in other sectors in 2020, more than 61% of security professionals reported that they had no cloud plans, often citing concerns over cost and data security, and 74% indicated only a small portion of their environments (less than 25%) was or would become cloud or hybrid cloud.

“The move to a predominantly remote workforce was made a lot easier for organizations that had already invested in cloud-based technologies, yet very few companies had already started that transition,” said Christian Morin, Vice President of Cloud Services and CSO at Genetec, Inc.   “As companies continue to re-evaluate how they get the work done, modern cloud-based solutions should be at the top of their list.”

Cyberattack risks remain

In spite of cybercrime continuing to increase, and remote work creating more technology challenges, the physical security industry remains behind in its approach to addressing cyber threats. The survey reveals that only 35% of respondents took steps to improve their cybersecurity strategy as a result of the pandemic.

“This new reality has underscored the fact that the network perimeter is truly dead with the bulk of the workforce working remotely. This forces many organizations to rapidly rethink and evolve their cybersecurity strategies,” added Morin.

To download a full copy of the report, please go to genetec.com/state-of-industry-2020.

Survey methodology

Genetec Inc. surveyed physical security professionals between September 21 and October 13, 2020. 1,074 respondents were included in the sample for analysis. Survey samples were run across all regions including North America, Central America, Caribbean, South America, Europe, Middle East, Africa, Asia, and Oceania.

Further research in 2021

To remain abreast of the evolving market, Genetec will continue primary research into the new year.  This will begin in the first quarter with a review of the EMEA physical security market and continue in other regions later in the year.  

–ends–

 

About Genetec

Genetec Inc. is an innovative technology company with a broad solutions portfolio that encompasses security, intelligence, and operations. The company’s flagship product, Security Center, is an open-architecture platform that unifies IP-based video surveillance, access control, automatic license plate recognition (ANPR), communications, and analytics. Genetec also develops cloud-based solutions and services designed to improve security, and contribute new levels of operational intelligence for governments, enterprises, transport, and the communities in which we live. Founded in 1997, and headquartered in Montreal, Canada, Genetec serves its global customers via an extensive network of resellers, integrators, certified channel partners, and consultants in over 80 countries.

For more information about Genetec, visit: www.genetec.com

© Genetec Inc., 2020. Genetec, and the Genetec logo are trademarks of Genetec Inc. and may be registered or pending registration in several jurisdictions. Other trademarks used in this document may be trademarks of the manufacturers or vendors of the respective product.

Attachment 



Véronique Froment
Genetec Inc.
+1 603.537.9248
[email protected]

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Biomerica’s InFoods® Irritable Bowel Syndrome Diagnostic-Guided Therapy Clinical Trial Nears Completion of Enrollment

  • Patient enrollment completion anticipated by the end of April 2021
  • InFoods® Diagnostic-Guided Therapy is designed to address the $30 billion market for IBS treatment
  • Therapy seeks to identify patient-specific foods that trigger IBS symptoms and suffering
  • Approximately 45 million Americans suffer from IBS1

IRVINE, Calif., Dec. 09, 2020 (GLOBE NEWSWIRE) — Biomerica, Inc. (Nasdaq: BMRA), a global provider of advanced medical products, today announced it is nearing completion of patient enrollment in the endpoint clinical trial for its InFoods® Irritable Bowel Syndrome (“IBS”) diagnostic-guided therapy (“DGT”). This double-blinded, randomized, controlled clinical trial is validating the Biomerica InFoods® IBS test to manage the debilitating pain and suffering of patients diagnosed with IBS. Utilizing an antibody guided blood test, the InFoods® IBS product identifies patient-specific foods that may alleviate IBS symptoms when eliminated from the diet.

“I am pleased our clinical endpoint trial for InFoods® IBS remains on track to complete enrollment despite the challenges imposed by this pandemic,” stated Zack Irani, CEO of Biomerica. “There is clearly a large unmet need in IBS patients who seek relief but are limited to trial-and-error for foods or drugs that treat symptoms but not the cause. Importantly, the InFoods® IBS therapy can be used in isolation or as part of the pharmacological drug therapy a patient would often receive, but without adding to the side-effect burden.”

Mr. Irani concluded, “The endpoint trial results should open potential partnering opportunities with global health sciences, pharmaceutical and medical device companies, and is expected to pave the way to a final pivotal trial and ultimately lead to FDA clearance. InFoods® IBS, provides a novel therapy for patients suffering from IBS without the drug side-effects. We look forward to providing updates on our continued progress in the coming months as we move closer to completing this endpoint trial.”

As previously indicated, Mayo Clinic joined Beth Israel Deaconess Medical Center, Inc., a Harvard Medical School Teaching Hospital, Houston Methodist, University of Texas Health Science Center at Houston and the University of Michigan as enrollment centers for this study. Biomerica expects to complete patient enrollment at these centers by the end of April 2021.

The clinical endpoint trial’s objective is to validate key elements and provide the selection of a proper endpoint of a proposed larger and final FDA pivotal trial. The design of the InFoods® IBS product clinical endpoint study has already received a non-significant risk determination from the FDA. The Company will not be required to submit an investigational device exemption (“IDE”) for the InFoods® IBS product study.

Biomerica will commence the final pivotal trial following the completion of the clinical endpoint trial.

About IBS

It is estimated that over 45 million Americans suffer from IBS.1 IBS is a common condition that can significantly impair the physical and mental well-being and a person’s ability to function at home and in the workplace. The symptoms of IBS are often triggered by the consumption of specific foods, which differ for every individual. The total cost of IBS has been estimated at $30 billion annually in just the United States.

About Biomerica (NASDAQ:

BMRA

)

Biomerica, Inc. (www.biomerica.com) is a global, biomedical technology company that develops, patents, manufactures, and markets advanced diagnostic and therapeutic products used at the point-of-care (in home and physicians’ offices) and in hospital/clinical laboratories, for detection and/or treatment of medical conditions and diseases. The Company’s products are designed to enhance the health and well-being of people while reducing total healthcare costs. Biomerica primarily focuses on gastrointestinal and inflammatory diseases, where the Company has multiple diagnostic and therapeutic products in development.

About InFoods®

The Biomerica InFoods® IBS product is designed to allow physicians to identify patient-specific foods (e.g. eggs, broccoli, wheat, potatoes, corn, etc.), that when removed from the diet, may alleviate or improve an individual’s IBS symptoms including, but not limited to, constipation, diarrhea, bloating, severe pain and indigestion. This patented, diagnostic-guided therapy is designed to allow for a patient-specific, guided dietary regimen to improve IBS outcomes. A point-of-care product is being developed to allow physicians to perform the test in-office using a finger stick blood sample, while a clinical lab version of the product is expected to be the first for which the Company will seek regulatory approval. A billable CPT code that can be used by both clinical labs and physicians’ offices is already available for InFoods® diagnostic products. Since the InFoods® product is a diagnostic-guided therapy, and not a drug, it has no drug type side effects. An estimated 45 million people in America currently suffer from IBS making it a leading cause for patient doctor visits.

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements, written statements and other press release issued, made or to be made by Biomerica) contains statements that are forward-looking, such as statements relating to the timing of the completion of clinical studies and clinical trials, the final clinical results from clinical trials, potential partnering opportunities, the efficacy of the Company’s COVID-19 test and other tests and products developed by the Company, FDA clearance, EUA clearance, receipt of CE Mark, the rapidity of testing results, uniqueness of a product, pricing of the Company’s various test kits, demand for domestic and international orders for the Company’s COVID-19 tests and other Company products, availability of the Company’s COVID-19 tests, and patent protection on the Company’s products and technologies. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, including, without limitation: results of studies testing the efficacy of the Company’s COVID-19 tests, InFoods tests and other Company products; regulatory approvals necessary prior to commercialization of the Company’s COVID-19 tests and other Company products; capacity, resource and other constraints on our suppliers; dependence on our third party manufacturers; dependence on international shipping carriers; governmental import/export regulations; competition from products similar to those developed or sold by the Company and from competitors that have significantly more financial and other resources available to them; governmental virus control regulations that could make it difficult or impossible for the Company to maintain current operations; regulations and the Company’s ability to obtain patent protection on any aspects of its tests and technologies. Accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Biomerica. Additionally, potential risks and uncertainties include, among others, fluctuations in the Company’s operating results due to its business model and expansion plans, downturns in international and or national economies, the Company’s ability to raise additional capital, the competitive environment in which the Company competes, and the Company’s dependence on strategic relationships. The Company is under no obligation to update any forward-looking statements after the date of this release.

1Canavan et al. The epidemiology of irritable bowel syndrome Clin Epidemiol. 2014; 6: 71–80. doi: 10.2147/CLEP.S40245

Corporate Contact:
Company Spokesperson
949-645-2111



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NRG Energy Becomes First North American Company to Issue Sustainability-Linked Bond

NRG Energy Becomes First North American Company to Issue Sustainability-Linked Bond

–Proceeds to be Used for Direct Energy Acquisition and to Support the Advancement of the Company’s Customer-Centric Strategy–

PRINCETON, N.J.–(BUSINESS WIRE)–
NRG Energy Inc. (NYSE:NRG) has completed the issuance of $900 million in senior secured first lien notes in a landmark issuance, with NRG pioneering the first Sustainability-Linked Bond (SLB) in North America, and the first issued by any energy company outside of Europe. In concert with the Direct Energy acquisition, the SLB will support the Company’s efforts to pursue growth, achieve its climate transition strategy, and bring increasing value to its stakeholders.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201209005550/en/

As a complement to the sustainability-linked pricing metric added to the Company’s corporate credit agreement in 2019, the Company’s issuance of the SLB aligns NRG’s business and financing with company commitments and values by creating a direct link between climate and funding strategies. The SLB links attractive financing to the realization of the Company’s previously announced goals to achieve a 50% reduction of absolute greenhouse gas (GHG) emissions by 2025, and reach net-zero GHG emissions by 2050, from the current 2014 baseline.

“For over a decade, we have considered our comprehensive sustainability framework foundational to our company strategy,” said Jeanne-Mey Sun, Vice President, Sustainability, NRG Energy, “We have a legacy of leading our sector in sustainability, transparency and disclosure, and the issuance of this Sustainability-Linked Bond is another example of our dedication to lead in the energy transition.”

“We’re proud to lead the way with this innovative Sustainability Linked Bond, which ties our financing to the achievement of our sustainability objectives,” said Gaetan Frotte, Senior Vice President and Treasurer, NRG Energy, “We are pleased by the overwhelmingly positive response to this offering, demonstrating the depth of interest for this type of instrument in the market.”

The Company’s SLB will be measured in accordance with one key performance indicator (KPI) and an associated Sustainability Performance Target (SPT), which support United Nations Sustainable Development Goals (SDG) 7 – Affordable and Clean Energy and 13 – Climate Action. The SPT set by NRG is absolute GHG emissions of 31.7 million metric tons of carbon dioxide equivalent by the end of 2025.

Reaching this goal is equivalent to removing over 6.8 million passenger vehicles from the road for a year. Measurement of the KPI will cover emissions from the production of wholesale electric power at facilities owned or controlled by the Company (Scope 1), emissions generated from the electricity purchased and consumed by the Company (Scope 2), and emissions encompassed by employee business travel (Scope 3).

Further, NRG has obtained a separate second-party opinion (SPO) from Vigeo Eiris on the robustness and relevance of the KPI and SPT. Vigeo Eiris is a global leader in environmental, social, and governance (ESG) assessments, data, research, benchmarks and analytics, and is a Climate Bonds Initiative Verified Provider of Second Party Opinions.

NRG was also advised by Natixis, which acted as sole sustainability-linked bond structurer and coordinator. Natixis is a leader in providing innovative financial products and solutions to support companies’ transitions to a more sustainable business model, providing invaluable expertise and guidance as an active structurer and coordinator.

The Company’s GHG emissions will continue to be reported on an annual basis through NRG’s Sustainability Report and in a separate third-party assurance report from its auditor.

For full details see investors.nrg.com/fixed-income.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are subject to certain risks, uncertainties and assumptions and typically can be identified by the use of words such as “expect,” “estimate,” “should,” “anticipate,” “forecast,” “plan,” “guidance,” “outlook,” “believe” and similar terms. Although NRG believes that the expectations are reasonable, it can give no assurance that these expectations will prove to be correct, and actual results may vary materially.

NRG undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The foregoing review of factors that could cause NRG’s actual results to differ materially from those contemplated in the forward-looking statements included in this news release should be considered in connection with information regarding risks and uncertainties that may affect NRG’s future results included in NRG’s filings with the SEC at www.sec.gov.

About NRG

At NRG, we’re bringing the power of energy to people and organizations by putting customers at the center of everything we do. We generate electricity and provide energy solutions and natural gas to more than 3.7 million residential, small business, and commercial and industrial customers through our diverse portfolio of retail brands. A Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, and by working towards a sustainable energy future. More information is available at www.nrg.com. Connect with NRG on Facebook, LinkedIn and follow us on Twitter @nrgenergy, @nrginsight.

Investors:

Kevin L. Cole, CFA

Investor Relations

NRG Energy

(609) 524-4526

[email protected]

Media:

Candice Adams

Corporate Communications

NRG Energy

(609) 524-5428

[email protected]

KEYWORDS: New Jersey United States North America

INDUSTRY KEYWORDS: Other Energy Utilities Environment Oil/Gas Coal Alternative Energy Energy

MEDIA:

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Realty Income To Redeem All Outstanding 3.25% Notes Due 2022

PR Newswire

SAN DIEGO, Dec. 9, 2020 /PRNewswire/ — Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced that it intends to redeem all $950 million in principal amount of its outstanding 3.25% notes due October 15, 2022 (CUSIP No. 756109AN4) (the “Notes”). The company expects the redemption date for the Notes to be January 8, 2021 (the “Redemption Date”).

The total redemption price for the Notes will be calculated in accordance with the Notes and the indenture governing the Notes, which the company currently estimates will be $1,056.60 per $1,000 principal amount of the Notes, which includes approximately $7.12 per $1,000 principal amount of the Notes of accrued and unpaid interest thereon to, but not including, the Redemption Date. The final redemption price will be determined on January 5, 2021 in accordance with the Notes and the indenture.

As a result of the redemption, the company expects to incur a charge of approximately $46 million, or approximately $0.13 per diluted common share, to net income available to common stockholders and NAREIT-defined Funds from Operations (FFO) in the first quarter of 2021. The charge will be excluded from Adjusted Funds from Operations (AFFO). 


Formal Notice of Redemption and Additional Information

The Bank of New York Mellon Trust Company, N.A., the trustee and paying agent for the Notes, is delivering a notice of redemption to all registered holders of the Notes.


About Realty Income

Realty Income, The Monthly Dividend Company®, is an S&P 500 company dedicated to providing stockholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 6,500 real estate properties owned under long-term lease agreements with commercial tenants. To date, the company has declared 606 consecutive common stock monthly dividends throughout its 51-year operating history and increased the dividend 109 times since Realty Income’s public listing in 1994 (NYSE: O). The company is a member of the S&P 500 Dividend Aristocrats® index. Additional information about the company can be obtained from the corporate website at www.realtyincome.com.


Forward-Looking Statements

Statements in this press release that are not strictly historical are “forward-looking” statements. Forward-looking statements involve known and unknown risks, which may cause the company’s actual future results to differ materially from expected results. These risks include, among others, general economic conditions, domestic and foreign real estate conditions, tenant financial health, the availability of capital to finance planned growth, volatility and uncertainty in the credit markets and broader financial markets, changes in foreign currency exchange rates, property acquisitions and the timing of these acquisitions, charges for property impairments, the effects of the COVID-19 pandemic and the measures taken to limit its impact, the effects of pandemics or global outbreaks of contagious diseases or fear of such outbreaks, the company’s tenants’ ability to adequately manage its properties and fulfill their respective lease obligations to the company, and the outcome of any legal proceedings to which the company is a party, as described in the company’s filings with the Securities and Exchange Commission. Consequently, forward-looking statements should be regarded solely as reflections of the company’s current operating plans and estimates. Actual operating results may differ materially from what is expressed or forecast in this press release. The company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date these statements were made. 

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SOURCE Realty Income Corporation

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Sunstock, Inc. Provides Update on Gold, Silver Assets

SACRAMENTO, Calif., Dec. 09, 2020 (GLOBE NEWSWIRE) — Sunstock, Inc. (OTC PINK: SSOK), involved in the buying, selling and distribution of precious metals, today announces an update on its gold and silver acquisitions during the final months of 2020.

Through the months of October-December 2020, Sunstock grew its inventory by 4 ounces of gold bars and 4,500 ounces of silver for an aggregate investment of $161,297 for the noted period. The Company’s most recent acquisition of 300 ounces of Buffalo Silver Rounds was completed Dec. 2, 2020, adding to its existing inventory.

Sunstock specializes in buying and selling gold, silver and rare coins to investors and customers. The Company monitors the precious metals market against the backdrop of the global economy to acquire assets at a pace and price conducive to its growth strategy. The Company currently operates Mom’s Silver Shop, a leading precious metals retail store located in Sacramento, California, from which it sells its inventory to investors and customers.

“Our business model enables investors to diversify their portfolio with unconventional assets, such as gold and silver, without actually purchasing and storing physical metals,” stated Sunstock CEO Jason Chang. “As we move toward another year of general uncertainty in the global marketplace, we believe precious metals will continue to see strong buying interest that benefits our model. Our goal is to continue to build an inventory that becomes a focal point of opportunity for investors.”

About
Sunstock
, Inc.:

Sunstock, Inc. (OTC PINK: SSOK) is involved in the distribution of precious metals, primarily gold. The Company pursues a “ground to coin” strategy, whereby uses its wholesale and retail channels to sell these precious metals primarily through their own branded coins. For more information, visit the Company’s website at www.SunstockInc.com

Forward-Looking Statements

In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company’s future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company’s business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company’s website. The Company disclaims any responsibility to update any forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause

Contact:

Mr. Jason Chang, CEO

[email protected]

916-860-9622
www.SunstockInc.com



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SolarWinds Announces Confidential Submission of Form 10 Registration Statement for Potential Spin-Off of MSP Business

SolarWinds Announces Confidential Submission of Form 10 Registration Statement for Potential Spin-Off of MSP Business

AUSTIN, Texas–(BUSINESS WIRE)–
SolarWinds Corporation (NYSE:SWI), a leading provider of powerful and affordable IT management software, today announced that it has confidentially submitted with the U.S. Securities and Exchange Commission (SEC) a Form 10 registration statement with respect to the potential spin-off of its managed service provider (MSP) business.

As announced on August 6, 2020, the board of directors of SolarWinds previously authorized the exploration of a potential spin-off of its MSP business into a standalone, separately-traded public company. The confidential submission of a Form 10 registration statement with the SEC represents a step forward in SolarWinds’ evaluation process.

If completed, the standalone entity would provide cloud-based software solutions for managed service providers, or MSPs, enabling them to support digital transformation and growth within small and medium-sized enterprises. SolarWinds would retain its Core IT Management business focused primarily on selling software and cloud-based services to corporate IT organizations. SolarWinds believes that, if completed, the potential spin-off would allow each company to more effectively pursue its distinct operating priorities, strategies and capital allocation policies, while also allowing stockholders to separately evaluate and value the companies based on their distinct markets, strategies and performance.

If SolarWinds proceeds with the spin-off, it would be intended to be structured as a tax-free, pro rata distribution to all SolarWinds stockholders as of a record date to be determined by the board of directors of SolarWinds. If completed, upon effectiveness of the transaction, SolarWinds shareholders would own shares of both companies.

Completion of the potential transaction would be subject to various conditions, including final approval of the board of directors of SolarWinds, and there can be no assurance that the potential spin-off transaction will be completed in the manner described above, or at all. If SolarWinds proceeds with the spin-off, it currently would expect to complete the transaction in the first half of 2021. In connection with the foregoing, DLA Piper LLP (US) is serving as legal advisor.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of any securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.

#SWIfinancials

About SolarWinds

SolarWinds (NYSE:SWI) is a leading provider of powerful and affordable IT infrastructure management software. Our products give organizations worldwide, regardless of type, size or IT infrastructure complexity, the power to monitor and manage the performance of their IT environments, whether on-premises, in the cloud, or in hybrid models. We continuously engage with all types of technology professionals—IT operations professionals, DevOps professionals, and managed service providers (MSPs)—to understand the challenges they face maintaining high-performing and highly available IT infrastructures. The insights we gain from engaging with them, in places like our THWACK online community, allow us to build products that solve well-understood IT management challenges in ways that technology professionals want them solved. This focus on the user and commitment to excellence in end-to-end hybrid IT performance management has established SolarWinds as a worldwide leader in network management software and MSP solutions. Learn more today at www.solarwinds.com.

This press release contains “forward-looking” statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding our expectations regarding the potential spin-off of our MSP business into a newly created and separately traded public company and our preliminary strategic, operational and financial considerations related thereto. We are currently exploring the spin-off. It has not been approved by our board of directors, and our statements with respect thereto are preliminary in nature and subject to change as additional information becomes available and as we consider and plan further the future strategic, operational, financial and capital objectives, profiles and structures of the two businesses. These forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include all statements that are not historical facts and may be identified by terms such as “aim,” “anticipate,” “believe,” “can,” “could,” “seek,” “should,” “feel,” “expect,” “will,” “would,” “plan,” “intend,” “estimate,” “continue,” “may,” or similar expressions and the negatives of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the following: (a) risks related to the potential spin-off of our MSP business into a standalone, separately traded public company, including that the process of exploring the spin-off and potentially completing the spin-off could disrupt or adversely affect the consolidated or separate businesses, results of operations and financial condition, that the spin-off may not achieve some or all of any anticipated benefits with respect to either business, and that the spin-off may not be completed in accordance with our expected plans or anticipated timelines, or at all; (b) the possibility that the global COVID-19 pandemic may adversely affect our business, results of operations and financial condition; (c) any of the following factors either generally or as a result of the impacts of the global COVID-19 pandemic on the global economy or on our business operations and financial condition or on the business operations and financial conditions of our customers, their end-customers and our prospective customers: (i) reductions in information technology spending or delays in purchasing decisions by our customers, their end-customers and our prospective customers, (ii) the inability to sell products to new customers or to sell additional products or upgrades to our existing customers, (iii) any decline in our renewal or net retention rates, (iv) the inability to generate significant volumes of high quality sales leads from our digital marketing initiatives and convert such leads into new business at acceptable conversion rates, (v) the timing and adoption of new products, product upgrades or pricing model changes by SolarWinds or its competitors, (vi) potential foreign exchange gains and losses related to expenses and sales denominated in currencies other than the functional currency of an associated entity, (vii) risks associated with our international operations; (d) the possibility that our operating income could fluctuate and may decline as percentage of revenue as we make further expenditures to expand our operations in order to support additional growth in our business; (e) our inability to successfully identify, complete, and integrate acquisitions and manage our growth effectively; (f) our status as a controlled company; and (g) such other risks and uncertainties described more fully in documents filed with or furnished to the Securities and Exchange Commission, including the risk factors discussed in our Annual Report on Form 10-K for the period ended December 31, 2019 filed on February 24, 2020, our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 filed on May 8, 2020 and our Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 filed on August 10, 2020. All information provided in this release is as of the date hereof and SolarWinds undertakes no duty to update this information except as required by law.

The SolarWinds, SolarWinds & Design, Orion, and THWACK trademarks are the exclusive property of SolarWinds Worldwide, LLC or its affiliates, are registered with the U.S. Patent and Trademark Office, and may be registered or pending registration in other countries. All other SolarWinds trademarks, service marks, and logos may be common law marks or are registered or pending registration. All other trademarks mentioned herein are used for identification purposes only and are trademarks of (and may be registered trademarks of) their respective companies.

© 2020 SolarWinds Worldwide, LLC. All rights reserved.

Investors:

Howard Ma

Phone: 512.498.6707

[email protected]

Media:

Tiffany Nels

Phone: 512.682.9535

[email protected]

KEYWORDS: Texas United States North America

INDUSTRY KEYWORDS: Software Technology Data Management Security

MEDIA:

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ArcelorMittal completes sale of ArcelorMittal USA to Cleveland-Cliffs

 


 

9 December 2020, 14:15 CET

ArcelorMittal announces that the sale of ArcelorMittal USA to Cleveland-Cliffs for a combination of cash and stock has completed today.

Under the terms of the sale, ArcelorMittal has received $505 million cash, 78 million shares of Cleveland-Cliffs common stock and non-voting preferred stock which is redeemable for approximately 58 million shares of Cleveland-Cliffs common stock or an equivalent amount in cash1. As agreed, Cleveland-Cliffs has assumed the liabilities of ArcelorMittal USA, including net liabilities of approximately $0.5 billion and pensions and other post-employment benefit liabilities (‘OPEB’)2.

Commenting, Mr. Lakshmi Mittal, Chairman and CEO, ArcelorMittal, said:

“I would like to thank everyone at ArcelorMittal USA for the important contribution they have made to the group. We wish you all the best for the future – Cleveland-Cliffs will be acquiring a great team. 



“The sale of ArcelorMittal USA is an opportunity to create excellent value for our shareholders and reposition our North American footprint on our most competitive assets, for which we have targeted growth plans. The recently announced EAF at Calvert and the new hot strip mill in Mexico, which will complete next year, will further enhance these assets and ensure we have the flexibility and quality to meet demand, particularly for higher-added value products. We intend to remain a strategic player in the NAFTA region.”

ENDS

1 Cleveland-Cliffs Inc.’s share price closed on 25/9/20 (the last day of trading prior to the transaction announcement) at $5.88; its closing price yesterday (8/12/20) was $13.04.
2 For the balance sheet carrying values please refer to the financial statements included in ArcelorMittal’s 2019 annual report on Form 20-F.


About ArcelorMittal

ArcelorMittal is the world’s leading steel and mining company, with a presence in 60 countries and primary steelmaking facilities in 18 countries. In 2019, ArcelorMittal had revenues of U.S.$70.6 billion and crude steel production of 89.8 million metric tonnes, while iron ore production reached 57.1 million metric tonnes.

Our goal is to help build a better world with smarter steels. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for electric vehicles and renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. This is what we believe it takes to be the steel company of the future.

ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS). For more information about ArcelorMittal please visit:


http://corporate.arcelormittal.com/


 



  		 
Contact information ArcelorMittal Investor Relations  
   
Europe +44 20 7543 1156
Americas +1 312 899 3985
Retail +44 20 7543 1156
SRI +44 20 7543 1156
Bonds/Credit +33 171 921 026
   
   
Contact information ArcelorMittal Corporate Communications  
 

E-mail:

 

[email protected]
Phone: +442076297988
   
   
ArcelorMittal Communications

 

 
Paul Weigh

 

+44 20 3214 2419