Microsoft announces expiration of its exchange offers

PR Newswire

REDMOND, Wash., March 16, 2021 /PRNewswire/ — Microsoft Corp. (NASDAQ: MSFT) (“Microsoft”) today announced the expiration of its offers to (i) exchange (the “Pool 1 Offer”) the fourteen series of notes described in the table below (collectively, the “Pool 1 Notes”) for a new series of Microsoft’s 2.921% Notes due March 17, 2052 (the “New 2052 Notes”) and a cash payment, as applicable, and (ii) exchange (the “Pool 2 Offer” and, together with the Pool 1 Offer, the “Exchange Offers”) the four series of notes described in the table below (collectively, the “Pool 2 Notes” and, together with the Pool 1 Notes, the “Existing Notes”) for a new series of Microsoft’s 3.041% Notes due March 17, 2062 (the “New 2062 Notes” and, together with the New 2052 Notes, the “New Notes”) and a cash payment, as applicable.

A Registration Statement on Form S-4 (File No. 333-253138), as amended by Amendment No. 1 thereto (the “Registration Statement”), relating to the issuance of the New Notes has been filed with the Securities and Exchange Commission (the “SEC”) and has become effective. The New Notes, upon issuance, will be registered under the Securities Act of 1933, as amended, pursuant to the Registration Statement.

The table below identifies the aggregate principal amount of each series of Pool 1 Notes validly tendered (and not validly withdrawn) in the Pool 1 Offer and the principal amount of each series of Pool 1 Notes, based on the order of acceptance priority for such series, that Microsoft expects to accept on the Settlement Date (as defined below):


Pool 1 Table


Title of Security


CUSIP
Number


Consideration
Exchanged for


Acceptance
Priority


Level


Principal
Amount


Tendered(1) 


Principal
Amount


Microsoft Expects


to Accept

4.875% Notes due 2043

594918AX2

New 2052 Notes

1

$28,429,000

$28,429,000

4.450% Notes due 2045

594918BL7

New 2052 Notes

2

$291,900,000

$291,900,000

4.250% Notes due 2047

594918CA0

New 2052 Notes

3

$496,145,000

$496,145,000

5.300% Notes due 2041

594918AM6

New 2052 Notes

4

$52,316,000

$52,316,000

5.200% Notes due 2039

594918AD6

New 2052 Notes

5

$38,287,000

$38,287,000

4.500% Notes due 2040

594918AJ3

New 2052 Notes

6

$85,527,000

$85,527,000

3.700% Notes due 2046

594918BT0

New 2052 Notes

7

$2,752,720,000

$2,752,720,000

3.750% Notes due 2043

594918AU8

New 2052 Notes

8

$75,896,000

$75,896,000

3.750% Notes due 2045

594918BD5

New 2052 Notes

9

$141,906,000

$141,904,000

3.500% Notes due 2042

594918AR5

New 2052 Notes

10

$445,898,000

$445,898,000

4.100% Notes due 2037

594918BZ6

New 2052 Notes

11

$1,065,067,000

$1,065,067,000

4.200% Notes due 2035

594918BK9

New 2052 Notes

12

$276,121,000

$276,121,000

3.450% Notes due 2036

594918BS2

New 2052 Notes

13

$956,220,000

$500,673,000

3.500% Notes due 2035

594918BC7

New 2052 Notes

14

$305,268,000

$0

(1)

The aggregate principal amounts of each series that have been validly tendered for exchange and not validly withdrawn, as of 11:59 p.m., New York City time, on March 15, 2021 (the “Expiration Time”), based on information provided by the exchange agent to Microsoft.

The table below identifies the aggregate principal amount of each series of Pool 2 Notes validly tendered (and not validly withdrawn) in the Pool 2 Offer and the principal amount of each series of Pool 2 Notes, based on the order of acceptance priority for such series, that Microsoft expects to accept on the Settlement Date:


Pool 2 Table


Title of Security


CUSIP
Number


Consideration
Exchanged for


Acceptance
Priority


Level


Principal
Amount


Tendered(1) 


Principal
Amount


Microsoft Expects


to Accept

3.950% Notes due 2056

594918BU7

New 2062 Notes

1

$1,521,258,000

$1,521,258,000

4.750% Notes due 2055

594918BM5

New 2062 Notes

2

$31,494,000

$31,494,000

4.500% Notes due 2057

594918CB8

New 2062 Notes

3

$128,724,000

$128,724,000

4.000% Notes due 2055

594918BE3

New 2062 Notes

4

$253,354,000

$253,354,000

(1)

The aggregate principal amounts of each series that have been validly tendered for exchange and not validly withdrawn, as of the Expiration Time, based on information provided by the exchange agent to Microsoft.

In the Exchange Offers, according to the information provided by D.F. King & Co., Inc., the information agent and exchange agent for the Exchange Offers, $7,011,700,000 aggregate principal amount of Pool 1 Notes and $1,934,830,000 aggregate principal amount of Pool 2 Notes were validly tendered and not validly withdrawn at or prior to the Expiration Time, as more fully set forth above.

The Exchange Offers expired at 11:59 p.m., New York City time, on March 15, 2021. Following the Expiration Time, tenders of the Existing Notes may not be validly withdrawn. As of the Expiration Time, all conditions to the Exchange Offers were satisfied. Microsoft currently anticipates that the settlement date of the Exchange Offers will be March 17, 2021 (the “Settlement Date”).

Based on the amount of Existing Notes tendered in the Exchange Offers and in accordance with the terms of the Exchange Offers, Microsoft expects to accept, on the Settlement Date, (a) the following Pool 1 Notes validly tendered (and not validly withdrawn): (i) all of the Pool 1 Notes listed in the Pool 1 Table above at Acceptance Priority Levels 1 through 8 and 10 through 12, (ii) $141,904,000 aggregate principal amount of its 3.750% Notes due 2045 (which is less than the amount tendered (and not validly withdrawn) due to minimum denomination requirements of the Exchange Offers) and (iii) $500,673,000 aggregate principal amount of its 3.450% Notes due 2036 with a proration factor for such notes equal to approximately 52% of such notes validly tendered (and not validly withdrawn) and (b) all Pool 2 Notes validly tendered (and not validly withdrawn). Microsoft does not expect to accept any of the Pool 1 Notes listed in the Pool 1 Table at Acceptance Priority Level 14.

On the Settlement Date, Microsoft expects to deliver an aggregate principal amount of $6,250,000,000 of New 2052 Notes and an aggregate principal amount of $1,934,476,000 of New 2062 Notes and cash payments, as applicable, pursuant to Microsoft’s prospectus dated March 4, 2021 (the “Prospectus”), filed with the SEC on March 4, 2021, relating to the New Notes.

About Microsoft

Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.

Forward-Looking Statements

Statements in this news release are “forward-looking statements” based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors described above as well as:

  • intense competition in all of our markets that may lead to lower revenue or operating margins;
  • increasing focus on cloud-based services presenting execution and competitive risks;
  • significant investments in products and services that may not achieve expected returns;
  • acquisitions, joint ventures, and strategic alliances that may have an adverse effect on our business;
  • impairment of goodwill or amortizable intangible assets causing a significant charge to earnings;
  • cyberattacks and security vulnerabilities that could lead to reduced revenue, increased costs, liability claims, or harm to our reputation or competitive position;
  • disclosure and misuse of personal data that could cause liability and harm to our reputation;
  • the possibility that we may not be able to protect information stored in our products and services from use by others;
  • abuse of our advertising or social platforms that may harm our reputation or user engagement;
  • the development of the internet of things presenting security, privacy, and execution risks;
  • issues about the use of artificial intelligence in our offerings that may result in competitive harm, legal liability, or reputational harm;
  • excessive outages, data losses, and disruptions of our online services if we fail to maintain an adequate operations infrastructure;
  • quality or supply problems;
  • government litigation and regulatory activity relating to competition rules that may limit how we design and market our products;
  • potential liability under trade protection, anti-corruption, and other laws resulting from our global operations;
  • laws and regulations relating to the handling of personal data that may impede the adoption of our services or result in increased costs, legal claims, fines, or reputational damage;
  • claims against us that may result in adverse outcomes in legal disputes;
  • uncertainties relating to our business with government customers;
  • additional tax liabilities;
  • the possibility that we may fail to protect our source code;
  • legal changes, our evolving business model, piracy, and other factors may decrease the value of our intellectual property;
  • claims that Microsoft has infringed the intellectual property rights of others;
  • damage to our reputation or our brands that may harm our business and operating results;
  • adverse economic or market conditions that may harm our business;
  • catastrophic events or geopolitical conditions, such as the COVID-19 pandemic, that may disrupt our business;
  • exposure to increased economic and operational uncertainties from operating a global business, including the effects of foreign currency exchange; and
  • the dependence of our business on our ability to attract and retain talented employees.

For more information about risks and uncertainties associated with Microsoft’s business, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of Microsoft’s SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q that are incorporated by reference in the Prospectus forming a part of the Registration Statement, copies of which may be obtained by contacting Microsoft’s Investor Relations department at (800) 285-7772 or at Microsoft’s Investor Relations website at http://www.microsoft.com/en-us/investor.

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SOURCE Microsoft Corporation

Medigus: Charging Robotics Ltd. Signed a Non-Binding MOU to Distribute its Wireless EV Robotic Charging Pad

Global Automax, an Israeli vehicle importer, will have exclusive distribution rights in Israel and Greece

OMER, Israel, March 16, 2021 (GLOBE NEWSWIRE) — Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in advanced medical solutions and innovative internet technologies, announced today that Charging Robotics Ltd., a wholly owned subsidiary of the company, signed a non-binding MOU with Global Automax Ltd., an Israeli vehicle importer for an exclusive distribution in Israel and Greece. Global Automax will market the wireless robotic charging pad for electric vehicles, once developed by Charging Robotics.

As part of the MOU, Global Automax will pay Charging Robotics a one-time payment of $50,000 for its appointment as an exclusive distributor in Israel and Greece. Additionally, Global Automax will have the option to purchase up to 5% of Charging Robotics’ ordinary shares at a $30 million pre-money valuation on a fully diluted basis, upon completion of Charging Robotics’ first financing round of no less than $1 million. Furthermore, Global Automax will have an additional option to purchase ordinary shares of up to 5% of the amount of shares that Charging Robotics will issue in any subsequent round of no less than $1 million following the first financing round at a price per share to be determined in any such round.

Global Automax, an Israeli private company engaged in parallel import of a variety of leading automobile brands into Israel, will be in charge of obtaining the necessary regulatory approvals and licenses for the import, export and marketing of Charging Robotics products for the relevant territories.

Global Automax has seven sales offices in Israel, a vehicle preparation and licensing facility, logistics centers in Israel and overseas, a license to import spare parts for vehicles and post-sales service network. Medigus was informed that Global Automax sold approximately 3,000 vehicles in 2019, with a turnover  of approximately $100 million.

Charging Robotics is developing an on-demand autonomous charging system to be used anywhere, anytime. The wireless charging system being developed is  intended to be self-aligning to electric vehicle battery chargers. The state-of-the-art autonomous Wireless Power Transfer (WPT) technology, once developed, is intended to seamlessly and efficiently charge the vehicle upon demand, it will carry the Wireless Power Transfer from a charging station or charging truck, to a customer’s vehicle that needs electric charging.

About Medigus

Medigus is traded on the Nasdaq Capital Market. To learn more about Medigus’ advanced technology, please visit www.medigus.com.

Contact (for media only)

Oz Adler
Chief Financial Officer
+972-8-6466-880
[email protected]

Cautionary Note Regarding Forward Looking Statements

This press release may contain statements that are “Forward-Looking Statements,” which are based upon the current estimates, assumptions and expectations of Medigus’ management and its knowledge of the relevant market. Medigus has tried, where possible, to identify such information and statements by using words such as “anticipate,” “believe,” “envision,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” “contemplate” and other similar expressions and derivations thereof in connection with any discussion of future events, trends or prospects or future operating or financial performance, although not all forward-looking statements contain these identifying words. For example, Medigus uses forward looking statements when it discusses the non-binding MOU signed with Automaxthat the on-demand autonomous charging system is intended to be used anywhere and anytime, that the WPT technology is intended to seamlessly and efficiently charge the vehicle upon demand, and it will carry the WPT from charging station or charging truck, to a customer’s vehicle that needs electric charging, as well as the planned features and functionality of the Wireless Power Transfer Technology. These forward-looking statements represent Medigus’ expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved, due to inter alia the spread of COVID-19 as well as the restriction deriving therefrom and difficulties arising from the development and manufacture of wireless charging products.The MOU described herein is non-binding and the definitive agreement may not be signed. The parties’ inability to reach a binding agreement may be caused by a myriad of factors, some outside Medigus and Charging Robotics’ control. Nothing in the description herein should be understood or construed as an announcement of completed products or an existing proof of concept. By their nature, Forward-Looking Statements involve known and unknown risks, uncertainties and other factors which may cause future results of Medigus’ activity to differ significantly from the content and implications of such statements. Other risk factors affecting Medigus are discussed in detail in Medigus’ filings with the Securities and Exchange Commission. Forward-Looking Statements are pertinent only as of the date on which they are made, and Medigus undertakes no obligation to update or revise any Forward-Looking Statements, whether as a result of new information, future developments or otherwise. Neither Medigus nor its shareholders, officers and employees, shall be liable for any action and the results of any action taken by any person based on the information contained herein, including without limitation the purchase or sale of Medigus’ securities. Nothing in this press release should be deemed to be medical or other advice of any kind.



Sinclair to Seek Partial Amendment and Extension of STG Credit Facilities

Sinclair to Seek Partial Amendment and Extension of STG Credit Facilities

BALTIMORE–(BUSINESS WIRE)–
Sinclair Broadcast Group, Inc. (“Sinclair” or the “Company”) (Nasdaq: SBGI) announced today that its wholly-owned subsidiary, Sinclair Television Group, Inc. (“STG”), intends to amend and extend the existing term loan B-1 tranche under its credit agreement, including the incurrence of new term loans in order to refinance such term loan B-1 tranche (which currently has a maturity date of January 3, 2024) with such new term loans which will provide for, among other things, a maturity date that is seven years after the effectiveness of such amendment.

The credit facility amendment is subject to market and other customary closing conditions.

Forward-Looking Statements:

The matters discussed in this news release include forward-looking statements regarding, among other things, future events and actions. When used in this news release, the words “outlook,” “intends to,” “believes,” “anticipates,” “expects,” “achieves,” “estimates,” and similar expressions are intended to identify forward-looking statements. Such statements are subject to a number of risks and uncertainties. Actual results in the future could differ materially and adversely from those described in the forward-looking statements as a result of various important factors, including and in addition to the assumptions set forth therein, but not limited to: STG’s ability to consummate the proposed amendment and extension of certain loans under its credit facility; the potential impacts of the COVID-19 pandemic on our business operations, financial results and financial position and on the world economy, including the significant disruption to the operations of the professional sports leagues, need to provide rebates to our distributors related to canceled professional sporting events, and loss of advertising revenue due to postponement or cancellation of professional sporting events, and reduced consumer spending as a result of shelter in place and stay at home orders; our ability to generate cash to service our substantial indebtedness; successful execution of outsourcing agreements; the successful execution of retransmission consent agreements; the successful execution of network affiliation and distribution agreements; the successful execution of media rights agreements with professional sports teams; the impact of OTT and other emerging technologies and their potential impact on cord-cutting; the impact of distributors offering “skinny” programming bundles that may not include all programming of our networks; pricing and demand fluctuations in local and national advertising; volatility in programming costs; the market acceptance of new programming; our ability to identify and consummate acquisitions and investments, to manage increased leverage resulting from acquisitions and investments, and to achieve anticipated returns on those investments once consummated; the impact of pending and future litigation claims against the Company; the impact of FCC and other regulatory proceedings against the Company, uncertainties associated with potential changes in the regulatory environment affecting our business and growth strategy; and any risk factors set forth in the Company’s recent reports on Form 10-Q and/or Form 10-K, as filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements except as required by law.

Investor:

Steve Zenker, VP, Investor Relations

Billie-Jo McIntire, Director, Investor Relations

(410) 568-1500

Media:

Michael Padovano

[email protected]

KEYWORDS: United States North America Maryland

INDUSTRY KEYWORDS: TV and Radio Consulting Banking Technology Professional Services General Entertainment Entertainment Other Technology Other Professional Services Other Entertainment Finance

MEDIA:

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MilliporeSigma, Akamai, Synopsys And Uber Enter Into Aggregation Deal To Purchase 111 MW Of Wind Energy From Enel Green Power

– The four global brands will purchase renewable energy from a portion of Enel Green Power’s 350 MW Azure Sky wind project in Texas.

– MilliporeSigma, Akamai, Synopsys, and Uber leveraged their collective buying power to serve as an anchor tenant for the project, demonstrating the benefits of collaboration among businesses with smaller and more distributed energy needs.

– The Azure Sky wind project, the first large-scale project to combine wind and battery storage for Enel Green Power globally, is currently under construction and expected to begin operations in the first-half of 2022.

PR Newswire

BOSTON, March 16, 2021 /PRNewswire/ — MilliporeSigma, Akamai Technologies, Inc. (NASDAQ: AKAM), Synopsys (NASDAQ: SNPS), and Uber (NYSE: UBER), with support from Sustainability Roundtable Inc’s Net Zero Consortium for Buyers, signed power purchase agreements with Enel Green Power for the energy produced by a 111 MW portion of the Azure Sky wind project located in Texas. The aggregation deal, a model which enables companies with smaller and more distributed energy needs to combine their renewable energy demand to collaboratively purchase renewable energy, is among the largest aggregation deals in the world.

As more companies look to power their operations with clean energy Enel is uniquely positioned to enable that transition

“This aggregation deal demonstrates an extraordinary shift in the renewable energy purchasing market to give businesses with modest energy demand, but ambitious renewable energy goals, the opportunity to procure renewable energy in a cost-effective way,” said Georgios Papadimitriou, Head of Enel Green Power in the U.S. and Canada. “As more companies of all sizes look to power their operations with clean energy, Enel is uniquely positioned to enable that transition, by creating customized solutions to meet the energy needs of all buyers.”  

MilliporeSigma, the life science business of Merck KGaA, Darmstadt, Germany, will purchase the energy generated by a 68 MW portion of the Azure Sky wind project to help the company towards its goal of climate neutrality by 2040. 

“To reach our goal of becoming climate neutral by 2040, accessing renewable energy programs like the Azure Sky Wind Project will be critical to MilliporeSigma and so many companies as they put into action environmentally conscious strategies and policies,” said Chris Ross, Interim CEO, MilliporeSigma.

Akamai, the intelligent edge platform for securing and delivering digital experiences plans to purchase the renewable energy generated by a 18 MW portion of the project to support the company’s commitment to run its intelligent edge network as efficiently as possible, to be mindful of its power usage, and to minimize the negative environmental impacts of its global operations.

“Akamai has led the way in innovative renewable energy projects since 2018, when we were a part of the


United States’ first


 corporate aggregated virtual power purchase agreement (“VPPA”) – a game-changing approach for smaller renewable energy buyers. Today we are proud to continue that legacy by participating in the largest aggregation to date,” said Mike Mattera, Director, Corporate Sustainability, Akamai Technologies, Inc.

Synopsys is at the forefront of Smart Everything with the world’s most advanced technologies for chip design, verification, IP integration, and software security and quality testing. The company will purchase the energy generated by a 15 MW portion of the project to support its ambitious emissions reduction goal.

“This landmark Virtual Power Purchase Agreement is instrumental to Synopsys’ ability to deliver on its greenhouse gas emissions reduction target of 25% by 2024,” said Barbara Donaldson, Senior Vice President of Workplace Resources at Synopsys. “The 15 megawatts of wind generation capacity will help Synopsys mitigate approximately 70% of our projected North American emissions, leading to new renewable energy on the grid and displacing fossil fuels.”

Uber, a global mobility platform, will purchase the energy generated by a 10 MW portion of the Azure Sky wind + storage project helping the company progress towards its global commitment to becoming a zero-emission mobility platform by 2040. This project helps Uber achieve its pledge to match all of their US offices with 100% renewable electricity by 2025, while expanding to data centers and global locations by 2030.

“As the largest mobility platform in the world, we know that our impact goes beyond our technology. We want to do our part to build back better and support a green recovery to our cities and communities,” saidDara Khosrowshahi, CEO of Uber. 

The four companies were supported on the aggregation deals by Sustainability Roundtable Inc’s Net Zero Consortium for Buyers, a buyers’ platform committed to creating corporate buyer favorable renewable energy transactions.

The wind energy purchased by the four companies from the 111 MW portion of the Azure Sky project is expected to generate around 430,000 MWh each year, equivalent to the electricity used by approximately 40,000 average US homes annually.

Located west of the Dallas-Fort Worth area in Throckmorton County, TX, the Azure Sky wind + storage project includes a 350 MW wind project paired with approximately 137 MW[1] of battery storage and is expected to be operational in the first-half of 2022. In addition to the four companies under the aggregation deal, Enel will also sell the electricity produced by a 100 MW portion of the Azure wind project to Kellogg Company.

The Azure Sky wind + storage project is the latest example of Enel’s commitment to invest in renewables-plus-storage hybrids in the US. Enel is currently constructing a similar plant, the 284 MW[2] Azure Sky solar + storage project, in a neighboring county and a third hybrid project, 181 MW[3] Lily solar + storage project also in Texas.


Enel Green Power North America
 is a leading developer, long-term owner and operator of renewable energy plants in North America, with a presence in 15 US states and one Canadian province. The company operates 60 plants with a managed capacity of over 6.7 GW powered by renewable wind, geothermal and solar energy.


Enel Green Power
, within the Enel Group, is dedicated to the development and operation of renewables across the world, with a presence in Europe, the Americas, Asia, Africa and Oceania. Enel Green Power is a global leader in the green energy sector with a managed capacity of around 49 GW across a generation mix that includes wind, solar, geothermal and hydropower, and is at the forefront of integrating innovative technologies into renewable power plants.

Sustainability Roundtable Inc (“SR Inc”) is a leader in outsourced Environmental, Social and Governance management missioned to accelerate the development and adoption of best practices in more sustainable business.  SR Inc’s Net Zero Consortium for Buyers is a confidential consortium for buyers only that helps participants develop global renewable energy and emissions reduction strategies and is the leading platform for Buyer Aggregated Virtual Power Purchase Agreements (VPPAs).

[1] 137 MWdc, which will inject up to 120 MWac peak power into the grid
[2] 284 MWdc, which will inject up to 225 MWac peak power in to the grid
[3] 181 MWdc solar panels will inject up to 146 MWac peak power in to the grid

Media Relations

[email protected]

enelgreenpower.com  

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SOURCE Enel Green Power North America

Blackbird Green Initiative Drives Industry Awareness with Video Emissions Impact Study

PR Newswire

“Video Shouldn’t Cost the Earth” industry report highlights the hidden impact video production has on climate change and identifies areas where the industry can reduce its carbon footprint

LONDON, 16 March 2021 /PRNewswire/ — Blackbird plc (AIM: BIRD), the developer and seller of the multi award-winning cloud-native video editing platform Blackbird, today launches a carbon awareness study titled “Video Shouldn’t Cost the Earth” developed in collaboration with environmental management consultancy Green Element. The study highlights the impact the video industry has on the environment and outlines key areas where companies can take greater strides towards meeting sustainability goals.

Blackbird and Green Element hope to sound the alarm around this accelerating issue in order to change attitudes within the video industry. Embracing existing cloud native technologies will lead to immediate reductions in emissions caused by production equipment, travel, physical network infrastructure, servers with heavy processing demands, housing for such equipment and the data transfer of large media files.

“According to Albert, the BAFTA backed environmental organisation, Annual Report 2019-20, ‘One hour of television production generates 9.2 tonnes of CO2 equating to almost 28 square metres of lost sea ice’. This is an urgent call to action,” states Ian McDonough, CEO of Blackbird. 

Blackbird, which has seen a three-fold increase in share price over the past 12 months, puts sustainability at the core of its mission. With its carbon-friendly solution for remote editing bypassing much of the conventional hardware needed for post-production, Blackbird is well positioned to help customers reduce their carbon emissions.

THE ADVANTAGES OF CLOUD NATIVE TO THE ENVIRONMENT

With the impact of COVID-19, many more broadcasters and content producers are starting to use the cloud for editing and post-production workflows. Whilst it’s evident that the move to the cloud can significantly reduce the climate impact through reductions in the number of people and equipment needed on site, not all remote technology is carbon friendly. Typical cloud-based solutions need extra hardware to connect to the cloud and output from it. Most use hidden virtual infrastructure within the cloud, which consumes significant amounts of energy.

Cloud native solutions mitigate these impacts.

CISCO’s Visual Networking Index Complete Forecast Updates 2017-22, predicts that video will make up 82% of all internet traffic by 2022. As the demand for content increases, the need for video production models to transition from traditional on premise or cloud based to cloud native becomes ever more urgent. The onus is on content creators to take responsibility for their carbon footprint and identify ways to become carbon neutral.

The study shows the benefits of using Blackbird, a cloud native professional video editing platform. Over a two week sporting event, Blackbird generates up to 91% less carbon emissions than on premise editing solutions and up to 84% less carbon emissions compared to cloud-based solutions.

MAJOR MEDIA BRANDS MAKE BIG COMMITMENTS

The report highlights the sustainability practices of named major media companies that have identified ways to become more environmentally friendly.

McDonough concludes, “Through awareness, collaboration and commitment in the industry, we can make a meaningful reduction in carbon emissions. If the technologies that exist today are leveraged correctly, it would result in a large, positive and immediate impact. A 25% reduction in carbon emissions from TV production by UK public service broadcasters alone would save over 200,000 square metres of sea ice per year. We owe it to future generations to act as leaders and collectively focus and prioritise cleaner video production that will benefit our environment.”

Readers can download the report, “Video Shouldn’t Cost the Earth,” at www.blackbird.video/sustainability.

About Blackbird plc

Blackbird plc operates in the fast-growing SaaS and cloud video market. It has created Blackbird®, the world’s most advanced suite of cloud-native computing applications for video, all underpinned by its lightning-fast codec. Blackbird plc’s patented technology allows for frame accurate navigation, playback, viewing and editing in the cloud. Blackbird® enables multiple applications, which are used by rights holders, broadcasters, sports and news video specialists, esports, live events and content owners, post-production houses, other mass market digital video channels and corporations.

Since it is cloud-native, Blackbird® removes the need for costly, high end workstations and can be used from almost anywhere on almost any device. It also allows full visibility on multi-location digital content, improves time to market for live content such as video clips and highlights for social media distribution, and ultimately results in much more effective monetisation.

Blackbird® is a registered trademark of Blackbird plc.

Websites



www.blackbird.video

Social media



www.linkedin.com/company/blackbird-cloud





www.twitter.com/blackbirdcloud





www.facebook.com/blackbirdplc

 

Press Contact

Alex Molina

Zazil Media Group
(e) [email protected]  
(p) +1 (617) 834-9600

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SOURCE Blackbird plc

Global Companies Turn to Cloud-Based, Unified Solutions to Address Rising Demands from Investors, Regulators, and Internal Stakeholders

Connected reporting platforms link numbers and narratives across teams to give stakeholders a comprehensive view of the enterprise, finds Frost & Sullivan

PR Newswire

SANTA CLARA, Calif., March 16, 2021 /PRNewswire/ — Frost & Sullivan’s latest thought leadership paper,Telling the Whole Story: Why it’s More than Just a Numbers Game—The Rise of Unified Financial and Non-Financial Reporting, reports the findings of the company’s annual Global Cloud Survey, which identifies factors driving the uptake of cloud-based reporting solutions and the advantages they bring to all companies. The paper was published in collaboration with Workiva, the company that simplifies complex work.

Over 400 global companies responded that cloud-based reporting solutions provide more value and insight into business data for investors, regulators, and internal stakeholders.   

Annual cloud survey trends for global companies reveal:

  • 44% of respondents currently use cloud solutions.
  • 38% of respondents plan to invest in cloud solutions in the next two years.
  • The future of environmental, social and governance (ESG) reporting is top of mind.
  • SaaS platforms continue to remodel companies’ processes.

To download the complimentary white paper, please visit: http://frost.ly/57r

“Cloud-based reporting solutions equip businesses for further digital transformation, connecting the dots between companies’ platforms and programs, numbers and narratives, and facilitating collaborative, consolidated reporting to the benefit of all. In addition, these platforms are easy to implement and intuitive to use,” said Frost & Sullivan Principal Consultant John Davies.

The opportunity to provide greater visibility for investors and the public into how businesses manage ESG issues stood out among companies surveyed.

Additional benefits include ease in compliance with regulations mandating the provision of clear and comparable financial and non-financial information. Respondents also noted increases in process efficiency, shorter reporting cycles and lower costs.

“A cloud-enabled, collaborative approach unifies people and processes, freeing up employees from entering, checking, and formatting data, and allowing them to concentrate on strategic issues that improve companies’ performance rather than just reporting on them,” added Davies.

“The right technology is paramount in facilitating unified reporting across an organization,” said Workiva General Manager of EMEA Bart Van Praag. “By utilizing open, intuitive, intelligent platforms, public and private companies can address the requirements of investors and regulators through the provision of transparent and timely financial and non-financial reporting.”

About Frost & Sullivan

For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

About Workiva

Workiva Inc. (NYSE: WK) simplifies complex work for thousands of organizations worldwide. Customers trust Workiva’s open, intelligent and intuitive platform to connect data, documents and teams. The results: improved efficiency, greater transparency and less risk. For more information, visit workiva.com.

Contact:

Jaylon Brinkley

P: +1 210 247 2481
E: [email protected] 
http://ww2.frost.com

 

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SOURCE Frost & Sullivan

SHAREHOLDER ALERT: Lordstown Motors Corp. Investigated for Possible Securities Laws Violations by Block & Leviton LLP; Investors Should Contact the Firm

BOSTON, March 16, 2021 (GLOBE NEWSWIRE) — Block & Leviton LLP (www.blockleviton.com), a national securities litigation firm, reminds shareholders it is investigating Lordstown Motors Corp. (NASDAQ: RIDE) for potential violations of the federal securities laws.

Before the markets opened on March 12, 2021, analyst Hindenburg Research published a scathing report on the electric light duty truck manufacturer entitled “The Lordstown Motors Mirage: Fake Orders, Undisclosed Production Hurdles, and a Prototype Inferno.” According to Hindenburg, the company’s claimed 100,000 pre-orders for its EV truck are “largely fictitious and used as a prop to raise capital and confer legitimacy.” Hindenburg further cites significant, undisclosed production delays and a prototype that “burst into flames 10 minutes before the test drive” in January 2021, substantiating claims by former employees that the company is not conducting the needed testing or validation required by the NHTSA. On this news, RIDE shares fell by 20% in intraday trading.

Block & Leviton LLP (www.blockleviton.com) is investigating whether Lordstown and certain of its executives may be liable for securities fraud. If you purchased or acquired shares of Lordstown and have questions about your legal rights or possess information relevant to this investigation, please contact Block & Leviton attorneys at (617) 398-5600, via email at [email protected], or visit our website for information on the case.

Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm’s lawyers have recovered billions of dollars for its clients.

This notice may constitute attorney advertising.

CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: [email protected] 
SOURCE: Block & Leviton LLP
www.blockleviton.com 

 



Olin Announces Chlor Alkali Capacity Reduction

PR Newswire

CLAYTON, Mo., March 16, 2021 /PRNewswire/ — Olin Corporation (NYSE: OLN) announced today that it plans to permanently shut down approximately 50% of its diaphragm-grade chlor alkali capacity (approximately 200,000 tons) at its McIntosh, Alabama facility.  The closure is expected to be completed by March 31, 2021.  This action is expected to be cash flow accretive.  Olin’s first quarter 2021 results are forecast to include approximately $5 million of restructuring charges associated with this plan.

“This is yet another step in Olin’s efforts to right-size our asset base and achieve reinvestment economics across our complete Electrochemical Unit portfolio,” remarked Scott Sutton, Olin President and Chief Executive Officer. “Shareholders can expect Olin to continue to take high-capital, non-accretive assets off our balance sheet as existing contractual supply obligations end, focusing our Olin teammates and resources toward unleashing Olin’s true value potential.”

COMPANY DESCRIPTION

Olin Corporation is a leading vertically-integrated global manufacturer and distributor of chemical products and a leading U.S. manufacturer of ammunition.  The chemical products produced include chlorine and caustic soda, vinyls, epoxies, chlorinated organics, bleach, and hydrochloric acid.  Winchester’s principal manufacturing facilities produce and distribute sporting ammunition, law enforcement ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges.

Visit www.olin.com for more information on Olin.

FORWARD-LOOKING STATEMENTS

This communication includes forward-looking statements.  These statements relate to analyses and other information that are based on management’s beliefs, certain assumptions made by management, forecasts of future results, and current expectations, estimates and projections about the markets and economy in which we and our various segments operate.  The statements contained in this communication that are not statements of historical fact may include forward-looking statements that involve a number of risks and uncertainties.

We have used the words “anticipate,” “intend,” “may,” “expect,” “believe,” “should,” “plan,” “outlook,” “project,” “estimate,” “forecast,” “optimistic,” and variations of such words and similar expressions in this communication to identify such forward-looking statements.  These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict and many of which are beyond our control.  Therefore, actual outcomes and results may differ materially from those matters expressed or implied in such forward-looking statements.  We undertake no obligation to update publicly any forward-looking statements, whether as a result of future events, new information or otherwise.  The payment of cash dividends is subject to the discretion of our board of directors and will be determined in light of then-current conditions, including our earnings, our operations, our financial conditions, our capital requirements and other factors deemed relevant by our board of directors.  In the future, our board of directors may change our dividend policy, including the frequency or amount of any dividend, in light of then-existing conditions.

The risks, uncertainties and assumptions involved in our forward-looking statements, many of which are discussed in more detail in our filings with the SEC, including without limitation the “Risk Factors” section of our Annual Report on Form 10-K for the year ended December 31, 2020, include, but are not limited to, the following:


Business, Industry and Operational Risks

  • sensitivity to economic, business and market conditions in the United States and overseas, including economic instability or a downturn in the sectors served by us;
  • declines in average selling prices in the chlor alkali industry and the supply/demand balance for our products, including the impact of excess industry capacity or an imbalance in demand for our chlor alkali products;
  • unsuccessful implementation of our operating model, which prioritizes Electrochemical Unit (ECU) margins over sales volumes;
  • our reliance on a limited number of suppliers for specified feedstock and services and our reliance on third-party transportation;
  • failure to control costs or to achieve targeted cost reductions;
  • higher-than-expected raw material, energy, transportation, and/or logistics costs;
  • the occurrence of unexpected manufacturing interruptions and outages, including those occurring as a result of labor disruptions and production hazards;
  • the failure or an interruption of our information technology systems;
  • our substantial amount of indebtedness and significant debt service obligations;
  • the negative impact from the COVID-19 pandemic and the global response to the pandemic;
  • weak industry conditions affecting our ability to comply with the financial maintenance covenants in our senior secured credit facility;
  • the loss of a substantial customer for either chlorine or caustic soda could cause an imbalance in customer demand for these products;
  • failure to attract, retain and motivate key employees;
  • risks associated with our international sales and operations, including economic, political or regulatory changes;
  • the effects of any declines in global equity markets on asset values and any declines in interest rates or other significant assumptions used to value the liabilities in our pension plan;
  • adverse conditions in the credit and capital markets, limiting or preventing our ability to borrow or raise capital;
  • our long-range plan assumptions not being realized causing a non-cash impairment charge of long-lived assets;


Legal, Environmental and Regulatory Risks

  • new regulations or public policy changes regarding the transportation of hazardous chemicals and the security of chemical manufacturing facilities;
  • changes in, or failure to comply with, legislation or government regulations or policies, including changes within the international markets in which we operate;
  • unexpected litigation outcomes;
  • costs and other expenditures in excess of those projected for environmental investigation and remediation or other legal proceedings; and
  • various risks associated with our Lake City U.S. Army Ammunition Plant contract, including performance and compliance with governmental contract provisions.

All of our forward-looking statements should be considered in light of these factors.  In addition, other risks and uncertainties not presently known to us or that we consider immaterial could affect the accuracy of our forward-looking statements.

2021-08

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SOURCE Olin Corporation

Conduent Announces COVID-19 Vaccine Response Solutions for Public Health Agencies

Multi-pronged offering helps agencies solve critical challenges with vaccine rollout, efficiency and reach through public awareness, eligibility support, appointments and post-immunization follow-up

Public health agencies can leverage robust community outreach and constituent support capabilities to assist in COVID-19 vaccine management

FLORHAM PARK, N.J., March 16, 2021 (GLOBE NEWSWIRE) — Conduent Incorporated (Nasdaq: CNDT), a business process services and solutions company, today introduced a new set of offerings designed for U.S. public health agencies to overcome a range of challenges in administering COVID-19 vaccines effectively and efficiently. Now underway with more than 109 million doses administered to date, the national COVID-19 vaccine rollout is among the largest vaccine programs administered in the history of public health, affecting more than 300 million Americans.

In addition to the operational challenges of a national immunization program, state and local health officials have faced an influx of questions from community members about the vaccine itself – from concerns over how the vaccine is administered to potential side effects and how it will affect them long term. To address these concerns, public health agencies need robust community outreach and constituent support programs.

“Agencies across the country are navigating the very complex administration of the COVID-19 vaccine,” said Cliff Skelton, President and CEO at Conduent. “The enormous scale of this initiative requires a rapidly deployed and flexible set of solutions to provide inbound and outbound vaccine information to recipients as efficiently as possible. With our strong eligibility assessment and determination experience, as well as customer contact services and outreach expertise, we’re proud to offer these services to agencies at such a critical time.”

Core Features of Vaccine Response Solutions:

To help agencies manage a variety of important programs and accelerate the immunization process, Conduent’s offering has five key solutions:

  1. Managing helplines and customer support services to centralize information about the vaccine and address people’s concerns and reservations
  2. Educating and engaging communities about COVID-19 vaccine availability and resources, including outreach to individuals lacking mobility, phone or internet access
  3. Assisting with screening individuals for clinical eligibility for COVID-19 vaccines, leveraging existing case management tools
  4. Setting vaccine appointments and providing reminders about designated dates and locations, and then alerting individuals about their second dose
  5. Offering post-vaccination follow-ups to track patient wellbeing after vaccination, and to measure and mitigate adverse reactions

“These offerings are a natural extension of our government healthcare and pharmacy benefit management solutions,” Skelton continued. “With more than 50 years of government health and social services support experience, our team stands ready to support agencies in their public health response to benefit citizens.”

Depending upon client requirements, Conduent estimates these solutions can typically be implemented in as few as two to four weeks. More information about Conduent’s Vaccine Response Solutions can be found here.

Conduent supports more than 41 million consumers annually with various government health programs and other eligibility services. These include government health care programs in 24 states, plus Washington, D.C., and Puerto Rico. In addition, Conduent provides public health agencies with its Maven® disease surveillance and outbreak management software, which is used to track and report cases of COVID-19 and other diseases.

About Conduent

Conduent delivers mission-critical services and solutions on behalf of businesses and governments – creating exceptional outcomes for its clients and the millions of people who count on them. Through process, technology and our diverse and dedicated associates, Conduent solutions and services automate workflows, improve efficiencies, reduce costs and enable revenue growth. It’s why most Fortune 100 companies and over 500 government entities depend on Conduent every day to manage their essential interactions and move their operations forward.

Conduent’s differentiated services and solutions improve experiences for millions of people every day, including three out of every four U.S. insured patients, 10 million employees who use its HR Services, and nearly 18 million benefits recipients. Conduent’s solutions deliver exceptional outcomes for its clients including $16 billion in savings from medical bill review of workers compensation claims, up to 40% efficiency increase in HR operations, up to 27% reduction in government benefits costs, up to 40% improvement in finance, accounting and procurement expense, and improved customer service interaction times by up to 20% with higher end-user satisfaction. Learn more at https://www.conduent.com.

Media
Contacts:

Neil Franz, Conduent, +1-301-820-4324, [email protected]

Investor
Relations
Contacts:

Alan Katz, Conduent, +1-973-526-7173, [email protected]
Rebecca Koar, Conduent, +1-862-308-7105, [email protected]

Note: To receive RSS news feeds, visit www.news.conduent.com. For open commentary, industry perspectives and views, visit http://twitter.com/Conduent, http://www.linkedin.com/company/conduent or http://www.facebook.com/Conduent.

Conduent is a trademark of Conduent Incorporated in the United States and/or other countries.



CURE Pharmaceutical Launches Psychedelic Oral Film Program Targeting the Treatment of Mental Health Disorders

CURE Pharmaceutical Launches Psychedelic Oral Film Program Targeting the Treatment of Mental Health Disorders

OXNARD, Calif.–(BUSINESS WIRE)–
CURE Pharmaceutical Holding Corp. (“CURE” or the “Company”) (OTC: CURR), a vertically integrated drug delivery and product development company, announced today that it has launched a new initiative for the clinical development of psychedelic compounds such as psilocybin, LSD, and MDMA for the treatment of various mental health disorders.

Utilizing CURE’s patented oral film platform CUREfilm® for precision dosing, the company intends to optimize the absorption and metabolism of psychedelic actives targeting clinical efficacy of both macrodosing and microdosing treatment regimens. CURE will use its DEA Schedule 1 license and cGMP-certified and FDA-registered facility providing a United States footprint for anticipated commercialization.

“Our specialty pharmaceutical pipeline is robust, protected by our IP and differentiated relative to others developing psychedelics,” said Rob Davidson, CEO of CURE. “Through innovation and selective diversification, we are confident that these new psychedelic programs and our corresponding product development efforts will open many doors to research advancement and new patient solutions. These programs not only broaden our internal pipeline but are also reflective of CURE’s focus on treatments for critical disease states including central nervous system disorders, viral infections, and now the serious burden of mental health disorders as well.”

Ongoing research, which has been active for decades, continues to showcase a growing body of evidence in support of psychedelics as effective treatments for mental health disorders such as depression, PTSD, addiction disorders, obsessive compulsive disorder, and anxiety. For example, in 2017, the US Food and Drug Administration (FDA) recognized the potential benefits of MDMA by assigning a Breakthrough Therapy Designation to an MDMA-assisted therapy to treat PTSD. In 2019, The Johns Hopkins University launched the “Center for Psychedelic and Consciousness Research.”

“We are dedicated to applying our film technology to leading compounds in high-impact, unmet need areas. Advancing these psychedelic product development programs helps ensure our end-goal of targeting those patients who would have otherwise been left without an important treatment option. We plan to advance our programs in a strategic, thoughtful, and fiscally-responsible way,” said Jonathan Berlent, CURE Chief Business Officer.

A recent study published by Data Bridge Market Research states that the legal U.S. psychedelic drug market is projected to grow at 16.3% CAGR from 2020 to 2027 and is expected to reach approximately $6.8 billion by 2027, up from $2 billion in 2019.

About CURE Pharmaceutical Holding Corp.

CURE Pharmaceutical® is the pioneering developer of CUREform™, a patented drug delivery platform that offers a number of unique immediate- and controlled-release drug delivery vehicles designed to improve drug efficacy, safety, and patient experience for a wide range of active ingredients.

As a vertically integrated company, CURE’s 25,000 square foot, FDA-registered, NSF® and cGMP-certified manufacturing facility enables it to partner with pharmaceutical and wellness companies worldwide for private and white-labeled production. CURE has partnerships in the U.S., China, Mexico, Canada, Israel, and other markets in Europe.

Forward Looking Statement

Statements CURE makes 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 of 1933, as amended (“Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (“Exchange Act”), which are usually identified by the use of words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “will,” and variations of such words or similar expressions. CURE intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act and is making this statement for purposes of complying with those safe harbor provisions. These forward-looking statements include, without limitation, the ability to successfully market the partnered products, the difficulty in predicting the timing or outcome of related research and development efforts, partnered product characteristics and indications, marketing approvals and launches of other products, the impact of pharmaceutical industry regulation, the impact of competitive products and pricing, the acceptance and demand of new pharmaceutical products, the impact of patents and other proprietary rights held by competitors and other third parties and the ability to obtain financing on favorable terms. The forward-looking statements in this press release reflect CURE’s judgment as of the date of this press release. CURE disclaims any intent or obligation to update these forward-looking statements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of our securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Licensing Contact:

Jonathan Berlent

Chief Business Officer

CURE Pharmaceutical

[email protected]

516.660.9148

Investment Contact:

[email protected]

Gary Zwetchkenbaum

Plum Tree Consulting LLC

[email protected]

516.455.7662

Media Contact:

Kathryn Brown

CMW Media

[email protected]

858.264.6600

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Biotechnology Pharmaceutical Health Mental Health

MEDIA: