Posts

Posted on

INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Penumbra, Inc. (PEN) on Behalf of Investors

INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Penumbra, Inc. (PEN) on Behalf of Investors

BENSALEM, Pa.–(BUSINESS WIRE)–
Law Offices of Howard G. Smith announces an investigation on behalf of Penumbra, Inc. (“Penumbra” or the “Company”) (NYSE: PEN) investors concerning the Company’s possible violations of federal securities laws.

On November 10, 2020, Quintessential Capital Management issued a research report on the Company entitled “Penumbra and its ‘Killer Catheter’: A tale of corporate greed and seemingly blatant disregard for patients’ lives[.]”

On December 8, 2020, Quintessential Capital Management released a follow-up research report entitled “Is Penumbra’s core scientific research authored by a fake person?: The incredible story of Penumbra’s Dr. Antik Bose[.]” The follow-up report alleged that some of the Company’s scientific research appear to have been incorrectly credited or even authored by a fake individual.

On this news, Penumbra’s share price fell $19.95 per share, or almost 9%, to close at $204.07 per share on December 8, 2020, thereby injuring investors.

If you purchased Penumbra securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Law Offices of Howard G. Smith

Howard G. Smith, Esquire

215-638-4847

888-638-4847

[email protected]

www.howardsmithlaw.com

KEYWORDS: Pennsylvania United States North America

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

Posted on

Arcus BiosciencesExpands Strategic Relationship with WuXi Biologics to Develop a Best-in-Class anti-CD39 Antibody for the Treatment of Cancer

Arcus BiosciencesExpands Strategic Relationship with WuXi Biologics to Develop a Best-in-Class anti-CD39 Antibody for the Treatment of Cancer

– Agreement expands upon Arcus’s industry-leading portfolio of clinical-stage molecules in the adenosine axis

– Arcus to be granted exclusive worldwide rights

HAYWARD, Calif.–(BUSINESS WIRE)–
Arcus Biosciences, Inc. (NYSE:RCUS), an oncology-focused biopharmaceutical company working to create best-in-class cancer therapies, and WuXi Biologics (2269.HK), a global company with leading open-access biologics technology platforms, today announced an expansion of their existing strategic relationship under which the parties will discover anti-CD39 antibodies using WuXi Bio’s proprietary technology. This CD39 collaboration represents the fourth antibody development program on which the two companies have joined forces. Arcus was granted exclusive worldwide rights to anti-CD39 antibodies discovered under the collaboration and will be responsible for all further development and commercialization activities of such anti-CD39 antibodies.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201209005773/en/

The ATP-adenosine axis is believed to play a critical role in maintaining an immunosuppressed tumor microenvironment. Inhibition of one or more of the key nodes (CD39, CD73, or adenosine A2a and A2b receptors) along this axis aims to reduce the formation or activity of the highly immunosuppressive adenosine. A potential additional benefit of CD39 inhibition, aside from blocking an important source of adenosine, is the increase in intra-tumoral ATP, an important molecule for the recruitment and activation of dendritic cells. Preclinical experiments indicate that the combination of CD39 inhibition with either CD73 or adenosine receptor inhibition provides robust inhibition of this axis and increased anti-tumor immunity.

“WuXi Biologics is a global leader in the development and manufacture of therapeutic antibodies. Our relationship with WuXi Biologics started in 2017 with a clinic-ready anti-PD1 antibody, zimberelimab, which possesses molecular properties similar to those of marketed anti-PD1 therapies and has shown impressive clinical anti-tumor activity,” said Juan Jaen, Ph.D., president and head of research at Arcus Biosciences. “Furthermore, WuXi Biologics has been an excellent manufacturing partner for our anti-TIGIT antibodies, domvanalimab (AB154) and AB308. We are excited to now extend our existing relationship with WuXi Biologics by combining core competencies to discover anti-CD39 antibodies that have the potential to synergize with adenosine-targeted molecules in our existing portfolio of clinical agents. This will allow us to continue to maintain our position as one of the industry’s leading companies in the targeting of the ATP-adenosine axis for the treatment of cancer.”

“We’re thrilled to expand our strategic partnership with Arcus Biosciences to further enable this innovative company to bring new biologics solutions using WuXi Biologics’ proprietary integrated platforms. This partnership is a strong testament to our industry-leading capabilities and expertise,” said Dr. Chris Chen, CEO of WuXi Biologics. “We’re committed to offering global open-access technology platforms with premier quality standards to support our global partners as they build their innovative ideas into transformative new treatments for patients worldwide.”

Financial terms of the agreement were not disclosed, and the development of any anti-CD39 antibodies from the collaboration is not expected to materially impact Arcus’s financial position over the current cash runway.

About Arcus Biosciences

Arcus Biosciences is an oncology-focused biopharmaceutical company leveraging its deep cross-disciplinary expertise to discover highly differentiated therapies and to develop a broad portfolio of novel combinations addressing significant unmet needs. Arcus currently has four molecules in clinical development: Etrumadenant (AB928), the first and only dual A2a/A2b adenosine receptor antagonist in the clinic, is being evaluated in multiple Phase 2 and 1b studies across different indications, including prostate, colorectal, non-small cell lung, pancreatic and triple-negative breast cancers. AB680, the first small-molecule CD73 inhibitor in the clinic, is in Phase 1 development for first-line treatment of metastatic pancreatic cancer in combination with zimberelimab and gemcitabine/nab-paclitaxel. Domvanalimab (AB154), an anti-TIGIT monoclonal antibody and new potential immuno-oncology backbone therapy, is in a three-arm randomized Phase 2 study for first-line treatment of PD-L1-high metastatic non-small cell lung cancer evaluating zimberelimab monotherapy, AB154 with zimberelimab and AB154 plus AB928 with zimberelimab. Zimberelimab (AB122), Arcus’s anti-PD-1 monoclonal antibody, is also being evaluated in a Phase 1b study as monotherapy for cancers with no approved anti-PD-1 treatment options, and in various combinations across the portfolio. For more information about Arcus Biosciences, please visit www.arcusbio.com.

About WuXi Biologics

WuXi Biologics (stock code: 2269.HK), a Hong Kong-listed company, is a leading global open-access biologics technology platform offering end-to-end solutions to empower organizations to discover, develop, and manufacture biologics from concept to commercial manufacturing. The company’s history and achievements demonstrate its commitment to providing a truly one-stop service offering and strong value proposition to its global clients. As of June 30, 2020, there were a total of 286 integrated projects, including 141 projects in pre-clinical development stage, 125 projects in early-phase (phase I and II) clinical development, 19 projects in late-phase (phase III) development and one project in commercial manufacturing. With total estimated capacity for biopharmaceutical production planned in China, Ireland, the U.S., Germany, and Singapore exceeding 280,000 liters after 2023, WuXi Biologics will provide its biomanufacturing partners with a robust and premier-quality global supply chain network. For more information about WuXi Biologics, please visit: www.wuxibiologics.com.

Forward-Looking Statements

This press release contains forward-looking statements. All statements other than statements of historical facts contained herein, including, but not limited to, potential synergies of an anti-CD39 antibody with Arcus’s existing molecules, benefits associated with an expansion of the company’s relationship with WuXi Biologics and funding requirements, are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause the actual results, performance or achievements to differ significantly from those expressed or implied. Factors that could cause or contribute to such differences include, but are not limited to, failure of any discovery candidates to meet the profile or achieve the properties desired by Arcus, the inherent uncertainty associated with pharmaceutical product development, our relationship with our other strategic collaborators, including our dependence on Gilead for the successful development and commercialization of our investigational products, and changes in the competitive landscape. Risks and uncertainties facing Arcus are described more fully in Arcus’s quarterly report on Form 10-Q for the quarter ended September 30, 2020 filed on November 5, 2020 with the SEC. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this press release. Arcus disclaims any obligation or undertaking to update, supplement or revise any forward-looking statements contained in this press release.

The Arcus name and logo are trademarks of Arcus. All other trademarks belong to their respective owners.

Source: Arcus Biosciences

Arcus Contact :

Katherine Bock

VP Investor Relations & Corporate Strategy

(510) 694-6231

[email protected]

WuXi Biologics Contact :

Media

[email protected]

Investor

[email protected]

 

KEYWORDS: Hong Kong United States North America Asia Pacific California

INDUSTRY KEYWORDS: Research Clinical Trials Biotechnology Other Health Health Pharmaceutical Other Science Science Oncology

MEDIA:

Logo
Logo
Logo
Logo
Posted on

Ascentage Pharma Announces Updates on the Clinical Development of APG-2575, including an ORR of 70% in Patients with Relapsed/Refractory Chronic Lymphocytic Leukemia

PR Newswire

SUZHOU, China and ROCKVILLE, MD, Dec. 9, 2020 /PRNewswire/ — Ascentage Pharma (6855.HK), a globally focused, clinical-stage biotechnology company engaged in developing novel therapies for cancers, chronic hepatitis B (CHB), and age-related diseases, today announced updates on the clinical development of the company’s novel Bcl-2 inhibitor APG-2575, further demonstrating the drug candidate’s therapeutic potential.

APG-2575 is a novel, orally administered small-molecule Bcl-2‒selective inhibitor being developed by Ascentage Pharma. APG-2575 is designed to treat hematologic malignancies and solid tumors by selectively blocking antiapoptotic protein Bcl-2 to restore the normal apoptosis process in cancer cells. As a bona fide Bcl-2 inhibitor, APG-2575 demonstrated desired target engagement. APG-2575 selectively binds to Bcl-2, disrupts Bcl-2:BIM complexes, and releases the proapoptotic protein BIM. Freed BIM subsequently activates BAX/BAK for pore formation on the mitochondria membrane, leading to mitochondrial outer-membrane permeabilization (MOMP), cytochrome c release, caspase activation, and apoptosis of cancer cells. APG-2575 is the first China-developed Bcl-2 inhibitor having entered clinical development in China. As a single agent, APG-2575 has potent antitumor activity in Bcl-2-dependent tumor cells, and has shown a broad range of antitumor activities when combined with other oncologic drugs. Previously, APG-2575 had received clearances and approvals for multiple Phase Ib/II clinical studies in China, Australia, and the US, and is currently being developed in a range of hematologic malignancies globally.

Highlights of the update

  • In total, 9 clinical studies are ongoing globally, with over 100 patients who have been administered APG-2575 at doses ranging from 20 mg to 1200 mg for the treatment of chronic lymphocytic leukemia (CLL), follicular lymphoma (FL), mantle cell lymphoma (MCL), diffuse large B-cell lymphoma (DLBCL), multiple myeloma (MM), acute myeloid leukemia (AML), and high leukocyte acute leukemia (HCL), etc.
  • Studies of APG-2575 in the treatment of relapsed/refractory CLL (r/r CLL) have enrolled over 30 patients. Preliminary results show that an objective response rate (ORR) of 70% has been reached in evaluable patients.
  • On safety:
    • Maximum tolerated dose (MTD) has not been reached, and no dose-limiting toxicity (DLT) was observed.
    • No clinical or laboratory tumor lysis syndrome (TLS) was observed.
    • Most treatment-related adverse events (TRAEs) were of Grade 1 or 2.
    • Limited cases of neutropenia and thrombocytopenia.
  • APG-2575 has been granted three Orphan Drug Designations (ODDs) by the US FDA, for the treatment of CLL, MM, and Waldenström macroglobulinemia (WM).

“APG-2575 is a key drug candidate of Ascentage Pharma’s apoptosis-targeted pipeline,” said Dr. Yifan Zhai, Chief Medical Officer of Ascentage Pharma. “As the first China-developed Bcl-2 inhibitor having entered clinical development in China, APG-2575 as a single agent or in combinations has demonstrated great therapeutic potential and clinical advantages. We are accelerating the global clinical development of this drug candidate, which we hope will soon translate into a new therapeutic option for patients in China and around the world.”

About Ascentage Pharma

Ascentage Pharma (6855.HK) is a globally focused, clinical-stage biotechnology company engaged in developing novel therapies for cancers, CHB, and age-related diseases. On October 28, 2019, Ascentage Pharma was listed on the Main Board of the Stock Exchange of Hong Kong Limited with the stock code: 6855.HK.

Ascentage Pharma focuses on developing therapeutics that inhibit protein-protein interactions to restore apoptosis or programmed cell death. The company has built a pipeline of eight clinical drug candidates, including novel, highly potent Bcl-2, and dual Bcl-2/Bcl-xL inhibitors, as well as candidates aimed at IAP and MDM2-p53 pathways, and next-generation tyrosine kinase inhibitors (TKIs). Ascentage Pharma is also the only company in the world with active clinical programs targeting all three known classes of key apoptosis regulators. The company is conducting more than 40 Phase I/II clinical trials in the US, Australia, and China. HQP1351, the company’s core drug candidate developed for the treatment of drug-resistant chronic myeloid leukemia (CML), has been granted an Orphan Drug Designation (ODD) and a Fast Track Designation (FTD) by the US FDA, and a New Drug Application (NDA) for the drug candidate has been submitted in China. To date, Ascentage Pharma has obtained a total of eight ODDs from the US FDA for four of the company’s investigational drug candidates.

Forward-Looking Statements

The forward-looking statements made in this article relate only to the events or information as of the date on which the statements are made in this article. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. You should read this article completely and with the understanding that our actual future results or performance may be materially different from what we expect. In this article, statements of, or references to, our intentions or those of any of our Directors or our Company are made as of the date of this article. Any of these intentions may alter in light of future development.

Cision View original content:http://www.prnewswire.com/news-releases/ascentage-pharma-announces-updates-on-the-clinical-development-of-apg-2575-including-an-orr-of-70-in-patients-with-relapsedrefractory-chronic-lymphocytic-leukemia-301189960.html

SOURCE Ascentage Pharma

Posted on

Vasta acquires Meritt, the leading digital assessment platform in Brazil

SÃO PAULO, Brazil, Dec. 09, 2020 (GLOBE NEWSWIRE) — Vasta Platform Limited (NASDAQ: VSTA) announces the acquisition of Meritt, the most complete and cutting-edge digital assessment platform in the country. A team with over 10 years’ experience and over 500 schools served, Meritt possesses the largest K-12 database in Brazil and will help our partner schools with their digitalization process. The startup currently has 153 active clients, a number 40% superior to that of 2019, and is expected to close the year with an estimated revenue of BRL 1.5 million. In addition to aggregating a digital solution to the platform, bringing in new clients, and contributing with its experience in data analysis, Meritt will also provide relevant cost synergies with the streamlining of tests and mock exams for the Vasta brands.

With the acquisition of an Edtech company, Vasta reaffirms its commitment to expand the digital solutions offered by its platform and aims to provide an improved learning management based on data and evidence, contributing to bolster students’ academic performance. Meritt’s experience and methodology will help Vasta make a new stride in its investments in online and adaptive testing, gaining new ground in assessment customization, as well as allowing for results comparison between all students enrolled in the platform. This methodology will make it possible to more quickly identify each student’s strengths and areas for improvement, guaranteeing a continuous evolution of their academic results, both in traditional exams and selection processes.

Meritt’s history has always been permeated by innovation. Their insertion into the country’s leading digital platform and the integration of its staff will accelerate the digital transformation process, support schools in their transition to a more dynamic teaching model and in the development of an education that is more attuned to the present day.

Meritt’s online solution will be made available to all Plurall partner schools starting on the first bimester of 2021, whereas the adaptive solution will be gradually incorporated into the platform’s teaching models.

VASTA’S MISSION

Our mission is to help private K-12 schools to be better and more profitable, supporting their digital transformation

ABOUT VASTA

Vasta is a leading, high-growth education company in Brazil powered by technology, providing end-to-end educational and digital solutions that cater to all needs of private schools operating in the K-12 educational segment, ultimately benefiting all of Vasta’s stakeholders, including students, parents, educators, administrators and private school owners. Vasta’s mission is to help private K-12 schools to be better and more profitable, supporting their digital transformation. Vasta believes it is uniquely positioned to help schools in Brazil undergo the process of digital transformation and bring their education skill-set to the 21st century. Vasta promotes the unified use of technology in K-12 education with enhanced data and actionable insight for educators, increased collaboration among support staff and improvements in production, efficiency and quality. For more information, please visit ir.vastaplatform.com.

CONTACT

Investor Relations
+55 11 3133 7311
[email protected]

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements that can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “estimate” and “potential,” among others. Forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements regarding our intent, belief or current expectations. Forward-looking statements are based on our management’s beliefs and assumptions and on information currently available to our management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to of various factors, including (i) general economic, financial, political, demographic and business conditions in Brazil, as well as any other countries we may serve in the future and their impact on our business; (ii) fluctuations in interest, inflation and exchange rates in Brazil and any other countries we may serve in the future; (iii) our ability to implement our business strategy and expand our portfolio of products and services; (iv) our ability to adapt to technological changes in the educational sector; (v) the availability of government authorizations on terms and conditions and within periods acceptable to us; (vi) our ability to continue attracting and retaining new partner schools and students; (vii) our ability to maintain the academic quality of our programs; (viii) the availability of qualified personnel and the ability to retain such personnel; (ix) changes in the financial condition of the students enrolling in our programs in general and in the competitive conditions in the education industry; (x) our capitalization and level of indebtedness; (xi) the interests of our controlling shareholder; (xii) changes in government regulations applicable to the education industry in Brazil; (xiii) government interventions in education industry programs, that affect the economic or tax regime, the collection of tuition fees or the regulatory framework applicable to educational institutions; (xiv) cancellations of contracts within the solutions we characterize as subscription arrangements or limitations on our ability to increase the rates we charge for the services we characterize as subscription arrangements; (xv) our ability to compete and conduct our business in the future; (xvi) our ability to anticipate changes in the business, changes in regulation or the materialization of existing and potential new risks; (xvii) the success of operating initiatives, including advertising and promotional efforts and new product, service and concept development by us and our competitors; (xviii) changes in consumer demands and preferences and technological advances, and our ability to innovate to respond to such changes; (xix) changes in labor, distribution and other operating costs; our compliance with, and changes to, government laws, regulations and tax matters that currently apply to us; (xx) the effectiveness of our risk management policies and procedures, including our internal control over financial reporting; (xxi) health crises, including due to pandemics such as the COVID-19 pandemic and government measures taken in response thereto; (xxii) other factors that may affect our financial condition, liquidity and results of operations; and (xxiii) other risk factors discussed under “Risk Factors.” Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of unanticipated events.

 



Posted on

Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of The Cheesecake Factory Incorporated (CAKE) on Behalf of Investors

Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of The Cheesecake Factory Incorporated (CAKE) on Behalf of Investors

LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of The Cheesecake Factory Incorporated (“Cheesecake Factory” or the “Company”) (NASDAQ: CAKE) investors concerning the Company’s possible violations of the federal securities laws.

If you suffered a loss on your Cheesecake Factory investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/the-cheesecake-factory-incorporated/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.

In its March 23, 2020 and April 3, 2020 disclosures, at the outset of the COVID-19 pandemic, Cheesecake Factory stated that its restaurants were “operating sustainably.” The Company was in fact losing around $6 million per week, which it did not disclose to investors. Additionally, the Company also failed to disclose to investors that due to the COVID-19 pandemic, it had informed landlords that it would be impossible to pay rent in April.

On December 4, 2020, the Company stated that it will pay a $125,000 fine to settle charges with the U.S. Securities and Exchange Commission’s (“SEC”) for making misleading statements.

On this news, Cheesecake Factory’s stock price fell $0.81 per share, or 2%, to close at $38.62 per share on December 4, 2020, thereby injuring investors.

Follow us for updates on LinkedIn, Twitter, or Facebook.

Whistleblower Notice: Persons with non-public information regarding Cheesecake Factory should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email [email protected].

About GPM

Glancy Prongay & Murray LLP is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation. ISS Securities Class Action Services has consistently ranked GPM in its annual SCAS Top 50 Report. In 2018, GPM was ranked a top five law firm in number of securities class action settlements, and a top six law firm for total dollar size of settlements. With four offices across the country, GPM’s nearly 40 attorneys have won groundbreaking rulings and recovered billions of dollars for investors and consumers in securities, antitrust, consumer, and employment class actions. GPM’s lawyers have handled cases covering a wide spectrum of corporate misconduct including cases involving financial restatements, internal control weaknesses, earnings management, fraudulent earnings guidance and forward looking statements, auditor misconduct, insider trading, violations of FDA regulations, actions resulting in FDA and DOJ investigations, and many other forms of corporate misconduct. GPM’s attorneys have worked on securities cases relating to nearly all industries and sectors in the financial markets, including, energy, consumer discretionary, consumer staples, real estate and REITs, financial, insurance, information technology, health care, biotech, cryptocurrency, medical devices, and many more. GPM’s past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron’s, Investor’s Business Daily, Forbes, and Money.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Glancy Prongay & Murray LLP, Los Angeles

Charles H. Linehan, 310-201-9150 or 888-773-9224

1925 Century Park East, Suite 2100

Los Angeles, CA 90067

www.glancylaw.com

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

Logo
Logo
Posted on

ICC Approves ComEd’s Third Consecutive Rate Decrease for Customers

ICC Approves ComEd’s Third Consecutive Rate Decrease for Customers

$14 million decrease is fifth decrease in 10 years

CHICAGO–(BUSINESS WIRE)–
The Illinois Commerce Commission today approved ComEd’s request for a $14 million decrease in delivery service charges in 2021 compared to rates in effect this past January. The approval comes after an eight-month proceeding in which regulators, the Illinois Attorney General, the Illinois Industrial Energy Consumers, the Citizens Utility Board and others review the costs and investments that determine customer rates. It marks ComEd’s fifth rate decrease in the past 10 years.

The new delivery rate will lower residential customer bills by about $1 per month. This will result in an average monthly bill of close to $82, which is lower than customer bills in 2008. Energy supply charges account for almost half of the monthly residential bill, and ComEd does not mark up or profit on these costs.

“Families and businesses need to be able to count on reliable energy at this uncertain time, and they need to have confidence that we’re doing everything we can to keep our costs low and bills manageable,” said Joe Dominguez, CEO of ComEd. “I’m proud that we’re able to provide a third rate decrease in a row during this public health crisis. The 6,000 women and men of ComEd have worked to implement smart grid investments that are consistently providing record reliability, efficiencies and savings that we pass on to our customers.”

ComEd’s total average monthly residential rate of 13.05 per kilowatt hour (kWh) is 10% below the average of the top 20 U.S. metro areas by population, according to rates reported by the Edison Electric Institute for the 12 months ending in December 2019. ComEd’s average industrial rate of 7.37 cents per kWh is 21% below the top 20 average, and its average commercial rate of 9.79 cents per kWh is 18% below the top 20 average.

ComEd customers are directly benefiting from fewer and shorter power outages as reliability has improved more than 70% since the smart grid program began in 2012. Customers captured $655 million in direct economic value from avoided customer interruptions between the key smart grid investment years of 2012 to 2017. The avoided outages have resulted in $2.4 billion in societal savings and 94 million pounds of avoided greenhouse gas pollution.

Also contributing to lower rates are energy efficiency programs that have helped ComEd customers save $5.2 billion on their energy bills since 2008, in addition to avoiding more than 55 billion pounds of carbon emissions, the equivalent of taking more than 5.4 million cars off the road. While ComEd customers will pay roughly half as much for energy efficiency next year as they did before Illinois implemented the Future Energy Jobs Act (FEJA) in 2017, they will save significantly more: In just three years under FEJA, energy efficiency investments have saved customers almost as much as they did in the 10 years before the law was implemented.

Investments recovered in this year’s proceeding include fiber optics communication technology to enable monitoring and control of transmission and distribution networks, reduce frequency and duration of outages and support grid security. Investments also include digital substation upgrades to enhance resiliency and add more renewable energy sources; and voltage optimization which creates up to 2% in annual savings for an average residential customer. ComEd also has been making grid investments to support some of the world’s largest data center operators, who are expanding or relocating to the Chicago area because of the superior reliability of the electric system and competitive rates.

ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 100 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter and YouTube.

ComEd Media Relations

312-394-3500

KEYWORDS: Illinois United States North America

INDUSTRY KEYWORDS: Congressional News/Views Public Policy/Government State/Local Other Policy Issues Oil/Gas Alternative Energy Energy

MEDIA:

Logo
Logo
Posted on

Periphas Capital Partnering Corporation Announces Pricing of Upsized $360 Million Initial Public Offering

Periphas Capital Partnering Corporation Announces Pricing of Upsized $360 Million Initial Public Offering

NEW YORK–(BUSINESS WIRE)–
Periphas Capital Partnering Corporation (the “Company”), a company formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar partnering transaction with one or more businesses, today announced the pricing of its initial public offering of 14,400,000 CAPS™ at a price of $25.00 per CAPS™. The CAPS™ will be listed on the New York Stock Exchange and trade under the ticker symbol “PCPC.U” beginning December 10, 2020. Each CAPS™ consists of one share of Class A common stock of the Company and one-quarter of one warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock of the Company at a price of $28.75 per share. Once the securities comprising the CAPS™ begin separate trading, the shares of Class A common stock and warrants are expected to be listed on the New York Stock Exchange under the symbols “PCPC” and “PCPC WS,” respectively.

The offering is expected to close on December 14, 2020, subject to customary closing conditions.

Evercore Group L.L.C. is acting as the sole book-running manager for the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 2,160,000 CAPS™ at the initial public offering price to cover over-allotments, if any.

The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from Evercore Group L.L.C., Attn: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055, by phone at (888) 474-0200, or by email at [email protected].

A registration statement relating to the securities became effective on December 9, 2020 in accordance with Section 8(a) of the Securities Act of 1933, as amended. 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 these 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.

This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the Securities and Exchange Commission (“SEC”). Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Jeff Dodge

Chief Operating Officer

[email protected]

(646) 876-6351

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Professional Services Finance

MEDIA:

Logo
Logo
Posted on

Adams Natural Resources Fund Announces $11.82 Issue Price Of Shares For Year-End Distribution Payable December 18, 2020

PR Newswire

BALTIMORE, Dec. 9, 2020 /PRNewswire/ — Adams Natural Resources Fund, Inc. (NYSE: PEO) has determined that $11.82 per share is the issue price for the closed-end fund’s year-end distribution to shareholders who have elected to receive all or a portion of the distribution in the form of stock. This price is the mean between the high and low sales prices of the Fund’s stock on the New York Stock Exchange on December 9, 2020.

The shares of common stock will be issued in connection with payment of the $0.43 year-end distribution, consisting of $0.20 in net investment income and $0.23 in net realized capital gains. The year-end distribution is payable on December 18, 2020.

The Fund has committed to distributing each year an amount equal to at least 6% of the Fund’s trailing 12-month average month-end market price. This year, the Fund is distributing an amount that results in a 6.1% annual distribution rate, exceeding its 6% commitment. Please see the information posted on our website, adamsfunds.com, for more details concerning the annual 6% minimum distribution rate commitment.

The Fund has paid out capital gains to its shareholders for 69 consecutive years and has paid dividends for 86 consecutive years.

###

About Adams Funds

Since 1929, Adams Funds has consistently helped generations of investors reach their investment goals. Adams Funds is comprised of two closed-end funds, Adams Diversified Equity Fund, Inc. (NYSE: ADX) and Adams Natural Resources Fund, Inc. (NYSE: PEO). The Funds are actively managed by an experienced team with a disciplined approach that has paid dividends for more than 80 years across many market cycles. The Funds are committed to paying an annual distribution rate of 6% or more, providing reliable income to long-term investors. Shares can be purchased through our transfer agent or through a broker. For more information about Adams Funds, please visit: adamsfunds.com.

For further information please contact:

Lyn Walther

Director of Shareholder Communications
800.638.2479
[email protected]

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/adams-natural-resources-fund-announces-11-82-issue-price-of-shares-for-year-end-distribution-payable-december-18–2020–301189945.html

SOURCE Adams Natural Resources Fund, Inc.

Posted on

Adams Diversified Equity Fund Announces $17.11 Issue Price Of Shares For Year-End Distribution Payable December 23, 2020

PR Newswire

BALTIMORE, Dec. 9, 2020 /PRNewswire/ — Adams Diversified Equity Fund, Inc. (NYSE: ADX) has determined that $17.11 per share is the issue price for the closed-end fund’s year-end distribution to shareholders who have elected to receive all or a portion of the distribution in the form of stock. This price is the mean between the high and low sales prices of the Fund’s stock on the New York Stock Exchange on December 9, 2020.

The shares of common stock will be issued in connection with payment of the $0.88 year-end distribution, consisting of $0.07 in net investment income and $0.81 in net realized capital gains. The year-end distribution is payable on December 23, 2020.

The Fund has committed to distributing each year an amount equal to at least 6% of the Fund’s trailing 12-month average month-end market price. This year, the Fund is distributing an amount that results in a 6.8% annual distribution rate, exceeding the 6% commitment. Please see the information posted on our website, adamsfunds.com, for more details concerning the annual 6% minimum distribution rate commitment.

The Fund has paid out capital gains to its shareholders for 56 consecutive years and has paid dividends for 85 consecutive years.

Management plans to hold a conference call to discuss the Fund’s 2020 performance on January 27, 2021 at 2:00 P.M. EST. The dial in number is 1-844-707-6796. Please ask to be joined to the Adams Funds call. The call will also be broadcast simultaneously at adamsfunds.com.  A recording of the call will be available shortly after its conclusion and until February 27, 2021 by dialing 1-877-344-7529. The replay ID is 10149978.

###

About Adams Funds

Since 1929, Adams Funds has consistently helped generations of investors reach their investment goals. Adams Funds is comprised of two closed-end funds, Adams Diversified Equity Fund, Inc. (NYSE: ADX) and Adams Natural Resources Fund, Inc. (NYSE: PEO). The Funds are actively managed by an experienced team with a disciplined approach that has paid dividends for more than 80 years across many market cycles. The Funds are committed to paying an annual distribution rate of 6% or more, providing reliable income to long-term investors. Shares can be purchased through our transfer agent or through a broker. For more information about Adams Funds, please visit: adamsfunds.com.

For further information, please contact:

Lyn Walther

Director of Shareholder Communications
800.638.2479
[email protected]

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/adams-diversified-equity-fund-announces-17-11-issue-price-of-shares-for-year-end-distribution-payable-december-23–2020–301189946.html

SOURCE Adams Diversified Equity Fund, Inc.

Posted on

FINAL DEADLINE NOTICE: ROSEN, TRUSTED INVESTOR COUNSEL, Reminds Turquoise Hill Resources Ltd. Investors of Important December 14 Deadline in Securities Class Action – TRQ

NEW YORK, Dec. 09, 2020 (GLOBE NEWSWIRE) — Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Turquoise Hill Resources Ltd. (NYSE: TRQ) between July 17, 2018 and July 31, 2019, inclusive (the “Class Period”), of the important December 14, 2020 lead plaintiff deadline in the securities class action. The lawsuit seeks to recover damages for Turquoise Hill investors under the federal securities laws.

To join the Turquoise Hill class action, go to http://www.rosenlegal.com/cases-register-1971.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

According to the lawsuit, throughout the Class Period and regarding the development of the Oyu Tolgoi copper-gold mine in Mongolia, defendants made false and/or misleading statements and/or failed to disclose that: (1) the stability issues were much more severe than represented and called into question the design of the mine, the projected cost and timing of production; (2) the publicly disclosed estimates of the cost, date of completion and dates for production from the underground mine were not achievable; (3) the “challenging ground conditions” were much more severe than defendants represented, and in fact made it impossible for Turquoise Hill and Rio Tinto to achieve those estimates; (4) the development capital required for the underground development of Oyu Tolgoi would cost substantially more than a billion dollars over what Turquoise Hill and Rio Tinto had represented; (5) Turquoise Hill would require additional financing and/or equity to complete the project; (6) the progress of underground development and of Oyu Tolgoi was not proceeding as planned; and (7) the “key risks” had not been “well understood and managed” but had placed the project schedule and cost into severe jeopardy. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 14, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1971.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        [email protected]
        [email protected]
        www.rosenlegal.com