Market Newsdesk

February 4, 2021 8:03 pm

CN Energy Group. Inc. Announces Pricing of Initial Public Offering

PR Newswire

LISHUI, China, Feb. 4, 2021 /PRNewswire/ — CN Energy Group. Inc. (the “Company”), a China-based manufacturer and supplier of wood-based activated carbon and a producer of biomass electricity, today announced the pricing of its initial public offering (“Offering”) of 5,000,000 ordinary shares at a public offering price of US$4.00 per share. The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on February 5, 2021 under the ticker symbol “CNEY.”

The Company expects to receive aggregate gross proceeds of US$20 million from this Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 750,000 ordinary shares at the public offering price, less underwriting discounts. The Offering is expected to close on or about February 9, 2021, subject to the satisfaction of customary closing conditions.

Proceeds from the Offering will be used to fund the construction of a new manufacturing facility in Manzhouli City and for research and development, working capital, and general corporate purposes.

The Offering is being conducted on a firm commitment basis. Network 1 Financial Securities, Inc. is acting as the underwriter for the Offering. Hunter Taubman Fischer & Li LLC acted as counsel to the Company, and Loeb & Loeb LLP acted as counsel to Network 1 Financial Securities, Inc. in connection with the Offering.

A registration statement on Form F-1 relating to the Offering was filed with the Securities and Exchange Commission (“SEC”) (File Number: 333-239659) and was declared effective by the SEC on February 4, 2021. The Offering is being made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the Offering may be obtained from Network 1 Financial Securities, Inc., by email at [email protected] or standard mail to Network 1 Financial Securities, Inc., 2 Bridge Avenue, Suite 241 Red Bank, NJ 07701. In addition, a copy of the prospectus relating to the Offering may be obtained via the SEC’s website at www.sec.gov.

Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more complete information about the Company and the Offering. This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation, or sale of any of the Company’s 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 such state or jurisdiction.

About CN Energy Group. Inc.

CN Energy Group. Inc. is a China-based manufacturer and supplier of wood-based activated carbon and a producer of biomass electricity. The Company also provides activated carbon related technical services. Its wood-based activated carbon is primarily used in pharmaceutical manufacturing, industrial manufacturing, water purification, environmental protection, and food and beverage production. For more information, visit the company’s website at www.cneny.com.

Forward-Looking Statements

All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company’s proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the SEC.

For more information, please contact:

Global Video Media Corp

Donna Yang

Phone: (929) 366-5099
Email: [email protected]

View original content:http://www.prnewswire.com/news-releases/cn-energy-group-inc-announces-pricing-of-initial-public-offering-301222810.html

SOURCE CN Energy Group. Inc.

February 4, 2021 8:03 pm

DFI Joins Hands with German ACL to Develop Substantial Business Opportunities in the Smart Medical Market

PR Newswire

TAIPEI, Feb. 4, 2021 /PRNewswire/ — DFI, a leading industrial computer manufacturer, has entered a strategic alliance with ACL, a well-known German medical IT hardware manufacturer, and will combine with DFI’s 40 years of rich experience in industrial computers. ACL has been famous in the medical personal computer market since 1995. With profound expertise in medical IT hardware for ICU/IMC and digital operating rooms, both will join hands to open up tremendous business opportunities in the smart healthcare market.

With over 25 years of “Made in Germany” quality, ACL’s rugged and durable medical computer products are widely used in 29 out of the 37 university hospitals in Germany and deployed in many well-known medical institutions in Europe. ACL also manufactures medical-related products for many world-renowned brands such as Dräger, Olympus, eSATURNUS (Sony Group), ATMOS, XION, Cascination, Zimmer Biomet, Humanscale, and HT Group. In the initial stage, DFI will support ACL in selling their medical product portfolio in America and APAC.

“DFI and ACL, the leaders in the smart medical market, are cooperating to create smart healthcare solutions. It is hoped that these high-quality products will open up endless business opportunities and help the medical system overcome the difficult challenges brought about by an aging society,” said Steven Tsai, DFI’s President.

“For seven years, we have worked together with DFI. This strategic partnership can help us to get the latest technologies from Taiwan and faster integration into our custom-made products to the medical field,” said Thomas Wollesky, ACL’s CEO.

The medical and health industry is entering a critical period of digital transformation. The alliance between DFI and ACL hopes to make an effort to improve the quality of healthcare in an aging society.

About DFI

Founded in 1981, DFI is a leading global provider of high-performance computing technology across multiple embedded industries. Smart medical applications are critical to medical quality will also be a new field where DFI will bring more contributions to an aging society.

About ACL

ACL has been manufacturing specialized IT hardware solutions for medicine and hygienically critical areas such as digital operating rooms, digitalization in intensive care units, telemedicine, and mobile solutions at its headquarters in Leipzig, Germany since 1995. Faultless and durable products are both an incentive and obligation for all ACL employees.

View original content:http://www.prnewswire.com/news-releases/dfi-joins-hands-with-german-acl-to-develop-substantial-business-opportunities-in-the-smart-medical-market-301221967.html

SOURCE DFI Inc.

February 4, 2021 8:02 pm

Pomerantz Law Firm Announces the Filing of a Class Action against GTT Communications, Inc. and Certain Officers – GTT

PR Newswire

NEW YORK, Feb. 4, 2021 /PRNewswire/ — Pomerantz LLP announces that a class action lawsuit has been filed against GTT Communications, Inc. (“GTT” or the “Company”) (NYSE: GTT) and certain of its officers. The class action, filed in United States District Court for the Central District of California, and docketed under 21-cv-00839, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired GTT publicly traded securities from May 5, 2016 through November 9, 2020, inclusive (the “Class Period”), seeking to pursue remedies under the Securities Exchange Act of 1934 (the “Exchange Act”). Plaintiff alleges that Defendants violated the Exchange Act by publishing false and misleading statements to artificially inflate the Company’s stock price.

If you are a shareholder who purchased GTT securities during the Class Period, you have until March 15, 2021 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

[Click here for information about joining the class action]

GTT operates a global communications network, providing telecommunications services to large, multinational enterprises, carriers, and governments across five continents.

Throughout the Class Period, GTT stated that its internal controls over financial reporting were “effective” and provided “reasonable assurance” that all required information was being disclosed.

In truth, GTT’s internal controls over financial reporting were inadequate, which led to years of inaccurate financial reporting, including failing to make adequate adjustments to the Company’s Cost of Telecommunication Services and failing to recognize certain expenses.

As a result of GTT’s inadequate internal controls, the Company announced after market hours on August 10, 2020 that it would delay the filing of its quarterly report for the quarter ended June 30, 2020. The Company stated it had identified “certain issues related to the recording and reporting of Cost of Telecommunications Services and related internal controls.”

On this news, GTT shares fell by $0.65, or over 11%, from closing at $5.61 on August 10, 2020 to close at $4.96 on August 11, 2020.

On November 9, 2020, the Company announced its quarterly report for the quarter ended September 30, 2020 would be delayed as well. The Company stated the delay was caused by the ongoing review and “examining the accounting for Cost of Telecommunications Services and [. . .] a number of issues in connection with the Company’s previously issued financial statements[.]”

On this news, GTT shares fell by $0.04, or 1%, to close at $3.96 on November 9, 2020.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com

CONTACT:

Robert S. Willoughby

Pomerantz LLP
[email protected]
888-476-6529 ext. 7980

View original content:http://www.prnewswire.com/news-releases/pomerantz-law-firm-announces-the-filing-of-a-class-action-against-gtt-communications-inc–and-certain-officers—gtt-301222809.html

SOURCE Pomerantz LLP

February 4, 2021 8:02 pm

COVA Acquisition Corp. Announces Pricing of Upsized $261 Million Initial Public Offering

COVA Acquisition Corp. Announces Pricing of Upsized $261 Million Initial Public Offering

SAN FRANCISCO–(BUSINESS WIRE)–
COVA Acquisition Corp. (the “Company”) announced today that it priced its upsized initial public offering of 26,100,000 units at a price of $10.00 per unit. The Company intends to grant the underwriters a 45-day option to purchase up to 3,915,000 units to cover over-allotments, if any. The units are expected to commence trading on February 5, 2021 on The Nasdaq Capital Market (“Nasdaq”) and trade under the ticker symbol “COVAU.” Each unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the Company at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the Nasdaq under the symbols “COVA” and “COVAW,” respectively.

The Company was formed by Crescent Cove Advisors LP (“Crescent Cove”) for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus its search for a target in the high growth technology and tech-enabled businesses in Southeast Asia in the consumer internet, ecommerce, and software industries, but may pursue a target in any stage of its corporate evolution or in any industry, sector or geographic location. Based in San Francisco, Crescent Cove is a leading credit-focused investment firm that has built an exceptional track record investing in high growth ventures within the technology, media and telecommunications (“TMT”) middle-market, differentiated by its speed and flexibility in solving complex financing needs for tech entrepreneurs.

Cantor Fitzgerald & Co. is acting as sole book-running manager for the offering. The public offering will only be made by means of a prospectus. Copies of the preliminary prospectus relating to the offering and final prospectus, when available, may be obtained from: Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Avenue, 5th Floor, New York, New York, 10022; Email: [email protected].

A registration statement relating to the securities became effective on February 4, 2021 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.

Cautionary Note Concerning Forward Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements, including the successful consummation of the Company’s initial public offering, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210204006171/en/

Company Contact:

K.V. Dhillon

President, COVA Acquisition Corp.

[email protected]

Media Contact:

Doug Donsky, ICR, Inc.

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Technology Finance Telecommunications Professional Services Software Networks Internet Retail Online Retail

MEDIA:

February 4, 2021 7:53 pm

CryptoStar Corp. Announces Closing of Non-Brokered Private Placement of Units

Canada NewsWire

TSXV: CSTR

TORONTO, Feb. 4, 2021 /CNW/ – CryptoStar Corp. (TSXV: CSTR) (“CryptoStar” or the “Company“), a cryptocurrency mining and data centre operator, today announced that it has closed the private placement announced on December 23, 2020, consisting of the issuance of 10,000,000 units (“Units“) of the Company to raise $500,000 at a price of $0.05 per Unit by way of a non-brokered private placement (the “Offering“).

Each Unit consists of one common share of CryptoStar (a “Common Share“) and one common share purchase warrant of CryptoStar (a “Warrant“). Each Warrant entitles the holder to acquire one Common Share at a price of CAD $0.075 per Common Share for a period of 18 months from the date of issue.

The Company will pay cash fees and issue Common Shares and non-transferable warrants (the “Finder’s Warrants“) pursuant to the Offering. EMD Financial Inc. will receive $33,250, 285,000 Common Shares and 285,000 Finder’s Warrants. Each Finder’s Warrant will entitle the holder thereof to acquire one Common Share at a price of $0.075 per Common Share for a period of twelve months from the date of issue.

The Offering and the payment of the finder’s fee is subject to TSX Venture Exchange approval. The securities issued in connection with the Offering are subject to a four-month hold period, in accordance with applicable securities laws.

CryptoStar intends to use the net proceeds from the Offering for business operations and expansion of its business, and for general working capital purposes.

About CryptoStar Corp.:

CryptoStar has cryptocurrency mining operations with data centres located in the U.S.A. and Canada. CryptoStar is currently dedicated to becoming one of the lowest cost cryptocurrency producers in North America and a major supplier of GPU and ASIC miners and mining hardware & hosting packages worldwide.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

Forward-Looking Statements

This news release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as, “expects”, “is expected”, “anticipates”, “intends”, “believes”, or variations of such words and phrases or state that certain actions, events or results “may” or “will” be taken, occur or be achieved. Forward-looking statements include those relating to the use of net proceeds from the Offering. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances. Actual results, performance or achievement could differ materially from that expressed in, or implied by, any forward-looking statements in this press release, and, accordingly, you should not place undue reliance on any such forward-looking statements and they are not guarantees of future results. Forward-looking statements involve significant risks, assumptions, uncertainties and other factors that may cause actual future results or anticipated events to differ materially from those expressed or implied in any forward looking statements. Except as required by law, CryptoStar undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE CryptoStar Corp.

February 4, 2021 7:31 pm

CORRECTING and REPLACING Jackson Memorial, Among World’s Largest Hospitals, Deploys Everbridge Software to Streamline COVID-19 Vaccine Distribution, Representing Growing Adoption in the Healthcare Industry

CORRECTING and REPLACING Jackson Memorial, Among World’s Largest Hospitals, Deploys Everbridge Software to Streamline COVID-19 Vaccine Distribution, Representing Growing Adoption in the Healthcare Industry

Public and Private Sector Demand Grows for Everbridge Critical Event Management (CEM) Software Supporting the Vaccine Rollout, Following Rapid Deployments by the State of West Virginia, Leon County Dept. of Health, Sarasota County in Florida, and More

BURLINGTON, Mass.–(BUSINESS WIRE)–
Please replace the release dated February 1, 2021, with the following corrected version due to revisions.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210201005281/en/

Public and Private Sector Demand Grows for Everbridge Critical Event Management (CEM) Software Supporting the Vaccine Rollout (Photo: Business Wire)

The updated release reads:

JACKSON MEMORIAL, AMONG WORLD’S LARGEST HOSPITALS, DEPLOYS EVERBRIDGE SOFTWARE TO STREAMLINE COVID-19 VACCINE DISTRIBUTION, REPRESENTING GROWING ADOPTION IN THE HEALTHCARE INDUSTRY

Everbridge, Inc. (NASDAQ: EVBG), the global leader in critical event management (CEM), today announced that a growing number of organizations across industry verticals, including healthcare and government, selected Everbridge to support COVID-19 vaccine distribution with risk insights, logistics awareness and vaccine appointment management. Jackson Memorial Hospital, among the world’s largest hospitals and the third-largest teaching hospital in the U.S. with more than 1,550 licensed beds, became the latest healthcare organization to use the company’s software to streamline vaccine distribution among its healthcare professionals.

In January 2021, Everbridge launchedCOVID-19 Shield™: Vaccine Distribution, an extension to its CEM platform supporting the full spectrum of organizations that develop, manufacture, transport, distribute, regulate, and administer the coronavirus vaccine. The offering also provides governments with a single, unified platform to expedite vaccine coordination, communication and distribution for residents. Recent deployments of Everbridge’s CEM Platform to power the digital vaccination distribution system, include the entire state population of West Virginia, Leon County Department of Health, the County of Sarasota, Florida, and other public and private sector organizations.

With Everbridge’s COVID-19 Shield™: Vaccine Distribution, enterprise customers gain capabilities to: coordinate the number of employees who have been vaccinated, manage population density and access to office buildings based on vaccination status, and receive timely alerts when employees report signs of illness so they can quickly respond to safeguard staff and visitors.

For governments, Everbridge enables state, city and county leaders to rapidly coordinate communication across the population, automate appointment signup and monitor registrations, track vaccine availability, ensure doses are shipped to proper facilities to avoid spoilage, and enable citizen scheduling to avoid long waits and call center challenges.

Dr. Clay Marsh, M.D., COVID-19/Coronavirus Czar for West Virginia, spoke about the state’s success with vaccine scheduling and deployment utilizing the Everbridge’s COVID-19 Shield™: Vaccine Distribution on CNN last week, “We have started what I believe is the first program in the country where we’re partnering with a digital identification and communication system called Everbridge, where we are now starting to pre-register every West Virginian in the state and we’re using an online portal and a phone portal for people who don’t have that capacity to go online. We’re creating a large queue that then sits people in the queue based on our priority and based on when they put their name in, and this system interacts and interfaces back and forth for them. And so we have backups that are available if our initial doses are not utilized and having that backup plan but staying within your prioritization scheme, I think, is an important factor of success.”

“Facing the tremendous complexity of COVID-19 vaccine distribution and management, a growing number of organizations now rely on Everbridge to help them automate and streamline these essential processes,” said David Meredith, CEO of Everbridge. “Everbridge’s COVID-19 Shield™: Vaccine Distribution enables government, healthcare and all types of businesses to protect the health and safety of their constituents, maintain vital communications and roll-out more effective and efficient vaccination distribution plans during this crucial phase of the COVID-19 global pandemic.”

About Everbridge

Everbridge, Inc. (NASDAQ: EVBG) is a global software company that provides enterprise software applications that automate and accelerate organizations’ operational response to critical events in order Keep People Safe and Businesses Running™. During public safety threats such as active shooter situations, terrorist attacks or severe weather conditions, as well as critical business events including IT outages, cyber-attacks or other incidents such as product recalls or supply-chain interruptions, over 5,400 global customers rely on the Company’s Critical Event Management Platform to quickly and reliably aggregate and assess threat data, locate people at risk and responders able to assist, automate the execution of pre-defined communications processes through the secure delivery to over 100 different communication devices, and track progress on executing response plans. Everbridge serves 8 of the 10 largest U.S. cities, 9 of the 10 largest U.S.-based investment banks, 47 of the 50 busiest North American airports, 9 of the 10 largest global consulting firms, 8 of the 10 largest global automakers, 9 of the 10 largest U.S.-based health care providers, and 7 of the 10 largest technology companies in the world. Everbridge is based in Boston with additional offices in 20 cities around the globe. For more information visit www.everbridge.com

Cautionary Language Concerning Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the anticipated opportunity and trends for growth in our critical communications and enterprise safety applications and our overall business, our market opportunity, our expectations regarding sales of our products, our goal to maintain market leadership and extend the markets in which we compete for customers, and anticipated impact on financial results. These forward-looking statements are made as of the date of this press release and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as “expect,” “anticipate,” “should,” “believe,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “could,” “intend,” variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the ability of our products and services to perform as intended and meet our customers’ expectations; our ability to successfully integrate businesses and assets that we may acquire; our ability to attract new customers and retain and increase sales to existing customers; our ability to increase sales of our Mass Notification application and/or ability to increase sales of our other applications; developments in the market for targeted and contextually relevant critical communications or the associated regulatory environment; our estimates of market opportunity and forecasts of market growth may prove to be inaccurate; we have not been profitable on a consistent basis historically and may not achieve or maintain profitability in the future; the lengthy and unpredictable sales cycles for new customers; nature of our business exposes us to inherent liability risks; our ability to attract, integrate and retain qualified personnel; our ability to maintain successful relationships with our channel partners and technology partners; our ability to manage our growth effectively; our ability to respond to competitive pressures; potential liability related to privacy and security of personally identifiable information; our ability to protect our intellectual property rights, and the other risks detailed in our risk factors discussed in filings with the U.S. Securities and Exchange Commission (“SEC”), including but not limited to our Annual Report on Form 10-K for the year ended December 31, 2019 filed with the SEC on February 28, 2020. The forward-looking statements included in this press release represent our views as of the date of this press release. We undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

All Everbridge products are trademarks of Everbridge, Inc. in the USA and other countries. All other product or company names mentioned are the property of their respective owners.

An earlier version of this release inadvertently and inaccurately included a statement from a Jackson Health System leader regarding the use of Everbridge.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210201005281/en/

Everbridge Contacts:

Jeff Young

Media Relations

[email protected]

781-859-4116

Joshua Young

Investor Relations

[email protected]

781-236-3695

KEYWORDS: United States North America Massachusetts

INDUSTRY KEYWORDS: Software Practice Management Health Infectious Diseases Hospitals Technology Supply Chain Management Retail

MEDIA:

Photo

Public and Private Sector Demand Grows for Everbridge Critical Event Management (CEM) Software Supporting the Vaccine Rollout (Photo: Business Wire)

Logo

February 4, 2021 7:30 pm

First National Bank Alaska Announced Unaudited Results for Fourth Quarter and Year-to-Date 2020

First National Bank Alaska Announced Unaudited Results for Fourth Quarter and Year-to-Date 2020

ANCHORAGE, Alaska–(BUSINESS WIRE)–
First National Bank Alaska’s (OTCQX:FBAK) unaudited net income for fourth quarter 2020 was $13.3 million, or $4.19 per share. This compares to a net income of $14.2 million, or $4.49 per share, for the same period in 2019. Unaudited year-to-date net income was $57.5 million, or $18.17 per share, compared to net income of $55.6 million, or $17.56 per share for the same period in 2019.

Total interest and loan fee income for fourth quarter 2020 was $36.2 million, a decrease of 6.2% from fourth quarter 2019 on lower annual yields on earning assets. The blended yield on interest-earning assets decreased to 3.54% from 4.15% for the 12-month periods ending December 31, 2020 and 2019, respectively. Lower yields on earning assets resulted from variable loan repricing, the addition of Small Business Administration Paycheck Protection Program (SBA PPP) loans, and significant cash and short-term investments. With decreasing cost of funds, the net interest margin year-to-date moved to 3.45% compared to 3.74% in 2019.

Noninterest income for fourth quarter 2020, excluding realized net investment gains, increased 17.7% from fourth quarter 2019 due to improved mortgage loan origination income, as record-low mortgage interest rates drove elevated home purchase and refinance activity. Noninterest expenses for fourth quarter 2020 increased 8.6% as compared to fourth quarter 2019. The efficiency ratio remained nearly unchanged at 53.28% compared to 53.26% in 2019.

Total assets increased $887.1 million during 2020 to reach $4.70 billion on December 31, 2020. Total loans increased $199.7 million to reach $2.21 billion by year-end. Return on assets for the 12 months ended December 31, 2020 decreased from 1.47% in 2019 to 1.33% due to strong growth in total assets.

“The bank’s strong performance during a challenging year is a tribute to every single member of the First National team,” said Betsy Lawer, First National Board Chair and CEO. “From leadership that was able to pivot quickly with strategies to meet rapidly changing economic and social conditions to the amazing efforts of employees who moved mountains to implement tactics to support those strategies, First National was able to provide financial services when Alaskans needed them most. All while protecting the health and safety of our customers and employees. As we enter our 100^th year of operations in 2021, I’m proud of our team and what the bank accomplished in 2020.”

Return on equity in 2020 decreased to 9.97% from 10.48% in 2019 on the increase in total shareholders’ equity to $586.6 million; a $38.9 million increase. Book value per share as of December 31, 2020 was $185.23, compared to $172.91 as of December 31, 2019. The bank’s December 31, 2020 Tier 1 leverage capital ratio of 11.52% remains above well-capitalized standards.

As it has for nearly 100 years, First National demonstrated support for Alaskans during the COVID-19 pandemic by the bank’s continued participation in the Small Business Administration Paycheck Protection Program. During 2020, the bank originated 2,464 SBA PPP loans, totaling $344.7 million. As of December 31, 2020, 774 SBA PPP borrowers filed for $146.2 million in forgiveness from the SBA, of which 424 borrowers received forgiveness payments totaling $67.2 million.

Deposits and repurchase agreements increased $835.7 million year-to-date to $4.08 billion. This increase was attributed to additional PPP and CARES Act stimulus to governmental entities and Native tribes, increased savings rates of businesses and individuals and continued growth from organic business development efforts.

First National proactively met the financial challenges of Alaskans during the pandemic through modifications of existing loan terms. Loan modifications as of December 31, 2020 totaled $319.3 million, or 16.46% of total loans, excluding SBA PPP loans. Modification to interest-only payments accounted for more than 89% of the modifications, with interest-only periods ranging from three to fourteen months. Modifications remain concentrated in commercial real estate loans to customers in the rental and leasing and hotel and food service industries.

At December 31, 2020 delinquent loans from 30 to 89 days were $2.7 million, 0.14% of outstanding loans excluding SBA PPP loans, a decrease of $1.2 million from September 30, 2020. Nonperforming loans were $13.6 million, 0.70% of outstanding loans excluding SBA PPP loans, an increase of $0.6 million from September 30, 2020. The allowance for loan losses at December 31, 2020 was $21.6 million, 0.97% of total loans (1.11% of loans excluding SBA PPP).

First National Bank Alaska files a quarterly financial report with the Federal Financial Institution Examination Council. Our latest Consolidated Report of Condition and Income (Call Report) is filed by the 30^th of the month following quarter-end and is subsequently posted at www.FNBAlaska.com > Financial Reports and at www.OTCMarkets.com.

Alaskan-owned and -operated since 1922, First National proudly meets the financial needs of Alaskans with ATMs and branches in 18 communities throughout the state, and by providing banking services to meet their needs across the nation and around the world. In 2020, Alaska Business readers voted the bank the “Best of Alaska Business” in the Best Place to Work category for the fifth year in a row. American Banker recognized First National as a “Best Bank to Work For” for the third year in a row in 2020, and Anchorage Daily News readers voted the bank one of the state’s top two financial institutions in the ADN “Best of Alaska” Awards in 2020. First National has also been recognized as the most admired company in the state by MSN.com and received the Rita Sholton Large Business of the Year Award from the Alaska Chamber.

Visit FNBAlaska.com for more information about Alaska’s largest locally owned bank and access to efficient and secure online banking services. First National Bank Alaska is a Member FDIC and Equal Housing Lender.


Financial Overview (Unaudited)	Quarter Ended ($ in thousands)
	12/31/2020		9/30/2020		6/30/2020		3/31/2020		12/31/2019
Balance Sheet
Total Assets	$ 4,695,315		$ 4,718,640		$ 4,594,205		$ 3,859,319		$ 3,808,254
Total Securities	$ 1,870,814		$ 1,735,916		$ 1,767,024		$ 1,501,474		$ 1,588,721
Total Loans	$ 2,211,288		$ 2,290,158		$ 2,309,166		$ 2,003,829		$ 2,011,611
Total Deposits	$ 3,113,169		$ 3,045,898		$ 2,912,046		$ 2,430,983		$ 2,387,785
Repurchase Agreements	$ 969,766		$ 1,022,024		$ 1,024,610		$ 822,835		$ 859,425
Total Deposits and Repurchase Agreements	$ 4,082,935		$ 4,067,922		$ 3,936,656		$ 3,253,818		$ 3,247,210
Total Shareholders’ Equity	$ 586,589		$ 585,429		$ 589,966		$ 575,774		$ 547,682

Income Statement
Net Interest and Loan Fee Income	$ 35,721		$ 36,615		$ 37,910		$ 34,520		$ 35,579
Provision for Loan losses	$ 32		$ 250		$ 1,949		$ (36	)	$ (3	)
Total Noninterest Income	$ 7,102		$ 6,677		$ 6,459		$ 5,757		$ 5,917
Total Noninterest Expense	$ 24,823		$ 22,196		$ 22,951		$ 21,454		$ 22,863
Provision for Income Taxes	$ 4,704		$ 5,293		$ 4,899		$ 4,711		$ 4,406
Net Income	$ 13,264		$ 15,553		$ 14,570		$ 14,148		$ 14,230
Earnings per common share	$ 4.19		$ 4.91		$ 4.60		$ 4.47		$ 4.49
Dividend per common share	$ 3.20		$ 6.40		$ 3.20		$ 3.20		$ 3.20

Financial Measures
Return on Assets	1.33	%	1.40	%	1.43	%	1.49	%	1.47	%
Return on Equity	9.97	%	10.27	%	10.06	%	10.07	%	10.48	%
Net Interest Margin	3.45	%	3.56	%	3.72	%	3.76	%	3.74	%
Efficiency Ratio	53.28	%	51.74	%	52.24	%	52.98	%	53.26	%

Capital
Shareholders’ Equity/Total Assets	12.49	%	12.41	%	12.84	%	14.92	%	14.38	%
Tier 1 Leverage Ratio	11.52	%	11.63	%	12.72	%	14.14	%	13.76	%
Regulatory Well Capitalized Minimum Ratio – Tier 1 Leverage Ratio	5.00	%	5.00	%	5.00	%	5.00	%	5.00	%
Tier 1 (Core) Capital	$ 538,520		$ 535,390		$ 540,105		$ 535,669		$ 531,807

Credit Quality
Noncurrent Loans and OREO	$ 14,094		$ 13,803		$ 13,511		$ 11,653		$ 8,235
Noncurrent Loans and OREO/Total Assets	0.30	%	0.29	%	0.29	%	0.30	%	0.22	%
Noncurrent Loans and OREO/Tier 1 Capital	2.62	%	2.58	%	2.50	%	2.18	%	1.55	%
Allowance for Loan Losses	$ 21,550		$ 21,550		$ 21,550		$ 19,500		$ 19,500
Allowance for Loan Losses/Total Loans	0.97	%	0.94	%	0.93	%	0.97	%	0.97	%

Net interest margin and efficiency ratios are tax effected.
Financial measures are year-to-date.
Per common share amounts are not in thousands.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210204006164/en/

Cheri Gillian, (907) 777-3409

http://www.FNBAlaska.com

KEYWORDS: United States North America Alaska

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

February 4, 2021 7:27 pm

SHAREHOLDER ALERT: WeissLaw LLP Investigates CoreLogic, Inc.

PR Newswire

NEW YORK, Feb. 4, 2021 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of CoreLogic, Inc. (“CoreLogic” or the “Company”) (NYSE: CLGX) in connection with the proposed acquisition of the Company by funds managed by Stone Point Capital and Insight Partners. Under the terms of the agreement, the Company’s shareholders will receive $80.00 in cash for each share of CoreLogic common stock that they own.

If you own CoreLogic shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

https://www.weisslawllp.com/clgx/

Or please contact:

Joshua Rubin, Esq.

WeissLaw LLP
1500 Broadway, 16^th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
[email protected]

WeissLaw LLP is investigating whether (i) CoreLogic’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the $80.00 per-share merger consideration adequately compensates CoreLogic’s shareholders; and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed. Notably, at least one analyst set a target price of $82.00 per CoreLogic share, or $2.00 above the per-share merger consideration.

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]

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SOURCE WeissLaw LLP

February 4, 2021 7:12 pm

Northern Oil and Gas, Inc. Announces Pricing of Public Offering of Common Stock

Northern Oil and Gas, Inc. Announces Pricing of Public Offering of Common Stock

MINNEAPOLIS–(BUSINESS WIRE)–
Northern Oil and Gas, Inc. (NYSE American: NOG) (the “Company”) announced today that it has priced its previously announced underwritten public offering of 12,500,000 shares of its common stock at a price to the public of $9.75 per share (the “Offering”). The Company has granted the underwriters a 30-day option to purchase up to an additional 1,875,000 shares of its common stock. The Offering is expected to close on February 9, 2021, subject to the satisfaction of customary closing conditions.

The Company intends to use the net proceeds from the Offering to partially fund the cash purchase price of the Company’s recently announced pending acquisition of certain non-operated natural gas assets in the Appalachian Basin from Reliance Marcellus, LLC (the “Reliance Acquisition”). The consummation of the Offering is not conditioned upon the completion of the Reliance Acquisition and the consummation of the Offering is not a condition to the completion of the Reliance Acquisition. If the Reliance Acquisition is not consummated, the Company intends to use the net proceeds of the Offering to repay or redeem outstanding indebtedness and for general corporate purposes.

BofA Securities is acting as representative of the underwriters and is a joint book-running manager for the Offering. RBC Capital Markets, Wells Fargo Securities, Citigroup and Truist Securities are also serving as joint book-running managers for the Offering. The Offering is being made only by means of a prospectus supplement and the accompanying base prospectus, which was filed as part of an effective shelf registration statement filed with the Securities and Exchange Commission on Form S-3. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the Offering, as well as copies of the final prospectus supplement, once available, may be obtained on the Securities and Exchange Commission’s website at www.sec.gov or by contacting BofA Securities by e-mail at [email protected]; RBC Capital Markets, Attention: Equity Capital Markets, 200 Vesey Street, New York, NY 10281, by telephone at 877-822-4089 or by email at [email protected]; Wells Fargo Securities, 500 West 33rd Street, New York, New York 10001, Attention: Equity Syndicate Department (fax no: (212) 214-5918); Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146); and Truist Securities, Inc., 3333 Peachtree Road NE, 9^th Floor, Atlanta, Georgia 30326, Attention: Prospectus Department, Email: [email protected].

This press release does not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities, 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.

ABOUT NORTHERN OIL AND GAS

Northern Oil and Gas, Inc. is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the premier basins within the United States.

SAFE HARBOR

This press release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934. All statements, other than statements of historical facts included in this press release, are forward-looking statements, including, but not limited to, statements regarding the expected closing date of the Offering and the anticipated use of the net proceeds therefrom. When used in this press release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential future production and sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.

Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond the Company’s control) that could cause actual results to differ materially from those set forth in the forward looking statements, including the following: changes in crude oil and natural gas prices; the pace of drilling and completions activity on the Company’s properties and properties pending acquisition; the Company’s ability to acquire additional development opportunities; potential or pending acquisition transactions, including the Reliance Acquisition; the Company’s ability to consummate the Reliance Acquisition, the anticipated timing of such consummation, and any anticipated financing transactions in connection therewith; the projected capital efficiency savings and other operating efficiencies and synergies resulting from the Company’s acquisition transactions; integration and benefits of property acquisitions, including the Reliance Acquisition, or the effects of such acquisitions on the Company’s cash position and levels of indebtedness; changes in the Company’s reserves estimates or the value thereof; disruptions to the Company’s business due to acquisitions and other significant transactions; general economic or industry conditions, nationally and/or in the communities in which the Company conducts business; changes in the interest rate environment, legislation or regulatory requirements; conditions of the securities markets; the Company’s ability to raise or access capital; changes in accounting principles, policies or guidelines; financial or political instability, acts of war or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting the Company’s operations, products and prices; and the COVID-19 pandemic and its related economic repercussions and effect on the oil and natural gas industry. Additional information concerning potential factors that could affect future financial results is included in the section entitled “Item 1A. Risk Factors” and other sections of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and the Company’s Quarterly Report on Form 10-Q for the fiscal quarters ended March 31, 2020, June 30, 2020 and September 30, 2020, as updated from time to time in amendments and subsequent reports filed with the SEC, which describe factors that could cause the Company’s actual results to differ from those set forth in the forward looking statements.

The Company has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control. The Company does not undertake any duty to update or revise any forward-looking statements, except as may be required by the federal securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210204006157/en/

Mike Kelly, CFA

EVP, Finance

952-476-9800

[email protected]

KEYWORDS: Minnesota United States North America

INDUSTRY KEYWORDS: Oil/Gas Energy

MEDIA:

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February 4, 2021 7:08 pm

ATIF Holdings Limited Announces Closing of Sale of Leaping Group Co, Ltd.

PR Newswire

LOS ANGELES, Feb. 4, 2021 /PRNewswire/ — ATIF Holdings Limited (Nasdaq: ATIF, the “Company”), a holding group providing business and financial consulting in Asia and North America, today announced the closing of the sale of Leaping Group Co., Ltd (“Leaping”) contemplated by its previously announced Sale and Purchase Agreement Regarding Issued Shares of Leaping Group Co., Ltd. (the “Agreement”), pursuant to which the Company sold all of its shares of Leaping to Jiang Bo, Jiang Tao and Wang Di (collectively, the “Buyers”) in exchange for (i) 5,555,548 ordinary shares of the Company owned by the Buyers and (ii) payment by the Buyers in the amount of US$2,300,000 plus interest at an interest rate of 10% per annum on the unpaid amount if the principal amount of US$2,300,000 is not paid by January 14, 2022. All principal and accrued and unpaid interest shall be due on January 14, 2023. The closing of the Agreement took place on January 29, 2021 and Leaping is no longer a subsidiary of the Company.

About ATIF Holdings Limited

Headquartered in Los Angeles, California, ATIF Holdings Limited (“ATIF”) is a holding group with asset management, investment holding and online financial information business and provide business consulting services to small and medium-sized enterprises in Asia and North America. ATIF operates an internet-based financial information service platform IPOEX.com, which provides prestige membership services including market information, pre-IPO education, IR media and matchmaking services between SMEs and financing institutions. ATIF’s investment holding business is to provide going public consulting, M&A consulting and financial consulting services to SMEs. ATIF has advised several enterprises in China in their plans to become publicly listed in the U.S. ATIF plans to launch securities investment service and investment advisory in Q1 2021. For more information, please visit https://ir.atifchina.com/.

Forward-Looking Statements

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantee of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: future financial and operating results, including revenues, income, expenditures, cash balances and other financial items; ability to manage growth and expansion; current and future economic and political conditions; ability to compete in an industry with low barriers to entry; ability to continue to operate through our VIE structure; ability to obtain additional financing in the future to fund capital expenditures; ability to attract new clients and further enhance brand recognition; ability to hire and retain qualified management personnel and key employees; trends and competition in the financial consulting services industry; a pandemic or epidemic; and other factors listed in the Company’s annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions you that actual results may differ materially from the anticipated results expressed or implied by the forward-looking statements we make. You should not rely upon forward-looking statements as predictions of future events. Forward-looking statements represent our management’s beliefs and assumptions only as of the date such statements are made. These forward-looking statements are made as of the date of this news release.

View original content:http://www.prnewswire.com/news-releases/atif-holdings-limited-announces-closing-of-sale-of-leaping-group-co-ltd-301222788.html

SOURCE ATIF Holdings Limited