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Revlon Announces Closing of 5.75% Senior Notes Exchange Offer

Revlon Announces Closing of 5.75% Senior Notes Exchange Offer

NEW YORK–(BUSINESS WIRE)–
Revlon, Inc. (NYSE: REV) announced today the closing of its previously-announced exchange offer and consent solicitation (the “Exchange Offer and Consent Solicitation”) by Revlon Consumer Products Corporation, its direct wholly-owned operating subsidiary (the “Company”) that was made pursuant to the amended and restated offering memorandum and consent solicitation statement (the “Offering Memorandum”), dated October 23, 2020. In the Exchange Offer, the Company offered to exchange any and all its 5.75% Senior Notes due 2021 (the “Notes”) issued pursuant to that certain indenture, dated February 8, 2013, by and among the Company, the guarantor parties thereto and U.S. Bank, National Association, as trustee (as amended, supplemented or modified, the “Indenture”) for (i) the cash consideration or (ii) the Mixed Consideration, in each case as described in the Offering Memorandum.

In closing the Exchange Offer, the Company accepted for exchange $236 million in aggregate principal amount of the Notes and provided to the holders of those Notes the consideration specified in the Offering Memorandum.

In connection with the closing, the Company gave irrevocable notice under the Indenture that it is optionally redeeming, on December 14, 2020, the remaining $106.8 million in aggregate principal amount of the Notes that did not tender into the Exchange Offer at a price equal to 100% of their aggregate principal amount, together with interest accrued on such Notes to, but excluding, the date of redemption, in accordance with the terms of the Indenture. As a result of such notice and the irrevocable deposit of funds with the Indenture trustee sufficient to effect such redemption, the Notes and the Indenture were discharged in full, effective as of November 13, 2020.

About Revlon

Revlon has developed a long-standing reputation as a color authority and beauty trendsetter in the world of color cosmetics and hair care. Since its breakthrough launch of the first opaque nail enamel in 1932, Revlon has provided consumers with high quality product innovation, performance and sophisticated glamour. In 2016, Revlon acquired the iconic Elizabeth Arden company and its portfolio of brands, including its leading designer, heritage and celebrity fragrances. Today, Revlon’s diversified portfolio of brands is sold in approximately 150 countries around the world in most retail distribution channels, including prestige, salon, mass, and online. Revlon is among the leading global beauty companies, with some of the world’s most iconic and desired brands and product offerings in color cosmetics, skin care, hair color, hair care and fragrances under brands such as Revlon, Revlon Professional, Elizabeth Arden, Almay, Mitchum, CND, American Crew, Creme of Nature, Cutex, Juicy Couture, Elizabeth Taylor, Britney Spears, Curve, John Varvatos, Christina Aguilera and AllSaints.

Forward-Looking Statements

Statements made in this press release, which are not historical facts, are forward-looking and are provided pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date they are made and the Company undertakes no obligation to publicly update any forward-looking statement, whether to reflect actual results of operations; changes in financial condition; changes in general U.S. or international economic or industry conditions and/or conditions in the Company’s reportable segments; changes in estimates, expectations or assumptions; or other circumstances, conditions, developments and/or events arising after the issuance of this press release, except for the Company’s ongoing obligations under the U.S. federal securities laws. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on preliminary or potentially inaccurate estimates and assumptions that could cause actual results to differ materially from those expected or implied by the estimated financial information. Such forward-looking statements include, among other things, the Company’s expectations regarding future liquidity, cash flows, mandatory debt payments and other expenditures. Actual results may differ materially from the Company’s forward-looking statements for a number of reasons, including as a result of the risks and other items described in Revlon’s filings with the SEC, including, without limitation, in Revlon’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K and amendments thereto, if any, filed with the SEC during 2019 and 2020 (which may be viewed on the SEC’s website at http://www.sec.gov or on Revlon, Inc.’s website at http://www.revloninc.com). Factors other than those referred to above, such as continuing adverse impacts from the ongoing and prolonged COVID-19 pandemic, could also cause Revlon’s results to differ materially from expected results. Additionally, the business and financial materials and any other statement or disclosure on, or made available through, Revlon’s website or other websites referenced herein shall not be incorporated by reference into this press release.

Media:

Sloane & Company

Dan Zacchei / Joe Germani

[email protected] / [email protected]

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Cosmetics Retail Online Retail Fashion

MEDIA:

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Jennifer Witz to Present Virtually at the 2020 Liberty Investor Meeting

PR Newswire

NEW YORK, Nov. 13, 2020 /PRNewswire/ — SiriusXM today announced that Jennifer Witz, President & Incoming Chief Executive Officer, is scheduled to present virtually on November 19th at 11:30am ET at the 2020 Liberty Investor Meeting.

A webcast of the presentation will be available via the Investor Relations section of the company’s website, www.siriusxm.com/investorrelations.


About SiriusXM

Sirius XM Holdings Inc. (NASDAQ: SIRI) is the leading audio entertainment company in the U.S., and the premier programmer and platform for subscription and digital advertising-supported audio products. Pandora, a subsidiary of SiriusXM, is the largest ad-supported audio entertainment streaming service in the U.S. SiriusXM and Pandora’s properties reach more than 150 million listeners, the largest addressable audience in the U.S., across all categories of digital audio – music, sports, talk, and podcasts. SiriusXM’s acquisitions of Stitcher and Simplecast, alongside industry-leading ad tech company AdsWizz, make it a leader in podcast hosting, production, distribution, analytics and monetization. SiriusXM, through Sirius XM Canada Holdings, Inc., also offers satellite radio and audio entertainment in Canada. In addition to its audio entertainment businesses, SiriusXM offers connected vehicle services to automakers. For more about SiriusXM, please go to: www.siriusxm.com.

This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements.

The following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements:  the current coronavirus (COVID-19) pandemic is adversely impacting our business;
 our substantial competition that is likely to increase over time; our efforts to attract and retain subscribers and listeners, or convert listeners into subscribers, which may not be successful, and may adversely affect our business; our Pandora ad-supported business has suffered a loss of monthly active users, which may adversely affect our Pandora business; privacy and data security laws and regulations may hinder our ability to market our services, sell advertising and impose legal liabilities; we engage in extensive marketing efforts and the continued effectiveness of those efforts are an important part of our business; consumer protection laws and our failure to comply with them could damage our business; a substantial number of our Sirius XM subscribers periodically cancel their subscriptions and we cannot predict how successful we will be at retaining customers; our ability to profitably attract and retain subscribers to our Sirius XM service as our marketing efforts reach more price-sensitive consumers is uncertain; our failure to convince advertisers of the benefits of our Pandora ad-supported service could harm our business; if we are unable to maintain revenue growth from our advertising products, particularly in mobile advertising, our results of operations will be adversely affected; if we fail to accurately predict and play music, comedy or other content that our Pandora listeners enjoy, we may fail to retain existing and attract new listeners; if we fail to protect the security of personal information about our customers, we could be subject to costly government enforcement actions and private litigation and our reputation could suffer; interruption or failure of our information technology and communications systems could impair the delivery of our service and harm our business; we rely on third parties for the operation of our business, and the failure of third parties to perform could adversely affect our business; our business depends in part upon the auto industry; our Pandora business depends in part upon consumer electronics manufacturers; the market for music rights is changing and is subject to significant uncertainties; our ability to offer interactive features in our Pandora services depends upon maintaining licenses with copyright owners; the rates we must pay for “mechanical rights” to use musical works on our Pandora service have increased substantially and these new rates may adversely affect our business; failure of our satellites would significantly damage our business; our Sirius XM service may experience harmful interference from wireless operations; failure to comply with FCC requirements could damage our business; economic conditions, including advertising budgets and discretionary spending, may adversely affect our business and operating results; if we are unable to attract and retain qualified personnel, our business could be harmed; we may not realize the benefits of acquisitions or other strategic investments and initiatives, including the acquisition of Pandora; our use of pre-1972 sound recordings on our Pandora service could result in additional costs; we may from time to time modify our business plan, and these changes could adversely affect us and our financial condition; we have a significant amount of indebtedness, and our debt contains certain covenants that restrict our operations; our facilities could be damaged by natural catastrophes or terrorist activities; the unfavorable outcome of pending or future litigation could have an adverse impact on our operations and financial condition; failure to protect our intellectual property or actions by third parties to enforce their intellectual property rights could substantially harm our business and operating results; some of our services and technologies may use “open source” software, which may restrict how we use or distribute our services or require that we release the source code subject to those licenses; rapid technological and industry changes and new entrants could adversely impact our services; existing or future laws and regulations could harm our business; we may be exposed to liabilities that other entertainment service providers would not customarily be subject to; our business and prospects depend on the strength of our brands; we are a “controlled company” within the meaning of the NASDAQ listing rules and, as a result, qualify for, and rely on, exemptions from certain corporate governance requirements; while we currently pay a quarterly cash dividend to holders of our common stock, we may change our dividend policy at any time; and our principal stockholder has significant influence, including over actions requiring stockholder approval, and its interests may differ from the interests of other holders of our common stock. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found in our Annual Report on Form 10-K for the year ended December 31, 2019 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, which are filed with the Securities and Exchange Commission (the “SEC”) and available at the SEC’s Internet site (http://www.sec.gov). The information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this communication.

Source: SiriusXM

Contact for SiriusXM:
Hooper Stevens
212-901-6718
[email protected]

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SOURCE Sirius XM Holdings Inc.

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CBOA Financial, Inc. Reports Consolidated Earnings of $457,000 in 3Q 2020

PR Newswire

TUCSON, Ariz., Nov. 13, 2020 /PRNewswire/ — CBOA Financial, Inc. (OTCMKTS:CBOF) (the “Company”), parent company of Commerce Bank of Arizona (the “Bank” or “CBAZ”), announced that consolidated net income for quarter ending September 30, 2020 increased 15.7% to $457,000, from $395,000 in the second quarter of 2020.

Chris Webster, Bank President and Chief Executive Officer said, “Commerce Bank of Arizona completed another quarter of solid financial performance. Performance was driven by stable loan and deposit growth. Organic loan growth was strong and Net Interest Margin has remained relatively steady despite the Federal Reserve’s low interest policy,” Webster added.

Third Quarter 2020 Highlights

  • Loan growth of $8.7MM, or 3.6% for the quarter
  • Deposit growth of $10.4MM, or 3.9% for the quarter
  • NIM of 4.03% for the quarter, despite rate pressure

Operational Highlights

Interest income was aided by recognized fee income of PPP loans that bolstered earnings by $357,000.  Further contributing to the growth in net interest income was a $10,000 decline in interest expense despite the $10 million increase in total deposits during the quarter.

The Bank’s $49,000 negative non-interest income was driven by writedowns of OREO properties which the Bank acquired primarily in the 2012-2015 time period. The Bank has aggressively priced these assets in response to the continuing difficulty of marketing these types of properties, which was exacerbated by the pandemic.

Balance Sheet

Total assets increased by 5.2% to $331.6 million during the quarter ended September 30, 2020 and increased 32% compared to $251.6 million a year ago. Total asset growth from September 2019 to September 2020 consisted of PPP loans funding CBAZ deposit accounts totaling $64 million, and organic net deposit growth of roughly $15 million.

Traditional gross loans rose $7.9 million since second quarter 2020 ending the third quarter at $186 million. Including the $64 million in PPP loans, total loans increased by 3.6% to $249.7 million in the quarter and increased 40% compared to $178 million a year ago. Total deposits increased by 3.9% to $279.2 million during the quarter and increased 26% compared to $221 million a year ago.

The allowance for loan losses totaled $2.99 million at September 30, 2020, or 1.41% of “traditional” non-PPP loans, compared to 1.34% in the previous quarter, and was 1.11% for the quarter with the PPP loans included. Though the Bank’s recorded reserve did not materially change, worsening economic factors and pandemic related payment deferrals are being accounted for in the Bank’s reserve calculation. Due to a large “unallocated” reserve, the Bank remained adequately reserved for the quarter.

Shareholders’ equity increased to $23.6 million at September 30, 2020, from $23.0 million the preceding quarter. At September 30, 2020, book value and tangible book value were $2.87 per share compared to $2.81 per share at June 30, 2020 and $2.57 per share a year ago. The growth in total assets associated with the PPP loans was the primary driver of the decline in the Bank’s Tier 1 Leverage ratio.  Excluding the PPP loans, the Bank’s third quarter 2020 Tier 1 Leverage ratio would have been 10.3%, just slightly lower than 10.7% for second quarter 2020 and 11.1% as of September 30, 2019.

Capital Management

Capital ratios exceeded regulatory guidelines for a well-capitalized institution under Basel III and Dodd Frank Wall Street Reform requirements at September 30, 2020. Capital ratios are presented below.

About the Company

Commerce Bank of Arizona, established in 2002 in Tucson, Arizona, is a full-service community bank that caters to small-to mid-sized businesses and real estate professionals. CBAZ offers commercial clients with a variety of services ranging from U.S. Small Business Administration (SBA) financing solutions, construction loans, and commercial real estate loans. CBOA Financial, Inc is a single-bank holding company and parent of the Bank. The Company is traded over-the-counter as CBOF. For additional information, visit: www.commercebankaz.com.

Forward-looking Statements

This press release may include forward-looking statements about CBOA Financial, Inc. or Commerce Bank of Arizona. These statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the following factors: competition, fluctuations in interest rates, dependency on key individuals, loan defaults, geographical concentration, litigation and changes in federal laws, regulations and interpretations thereof. All forward-looking statements included in this press release are based on information available at the time of the release, and CBOA Financial, Inc. and Commerce Bank of Arizona assume no obligation to update any forward-looking statement.


Unaudited Consolidated Summary Financial Information


Dollars in thousands – Unaudited


For the quarter ended


 Year to Date 


30/09/2020


30/06/2020


30/09/2019


30/09/2020


30/09/2019


Summary Income Data

Interest Income

3,202

3,549

2,955

9,577

8,835

Interest expense

356

366

519

1,168

1,425

Net Interest Income

2,846

3,183

2,436

8,409

7,410

Provision for (reduction in) loan losses

–

–

(79)

(279)

(79)

Non-interest income

(49)

(460)

130

(501)

359

Realized gains (losses) on sales of securities

–

47

(5)

168

(5)

Non-interest expense

2,340

2,375

2,141

7,132

6,417

Income (loss) before income taxes

457

395

499

1,223

1,426

Provision for income tax

–

–

–

–

–

Net Income

457

395

499

1,223

1,426


Per Share Data

Shares outstanding end-of-period

8,208

8,208

7,878

8,208

7,878

Earnings per common share ($’s)

0.06

0.05

0.06

0.15

0.18

Earnings per common share (Diluted) ($’s)

0.04

0.04

0.05

0.12

0.13

Cash dividend declared

–

–

–

–

–

Total shareholders’ equity

23,589

23,049

20,732

23,589

20,732

Book value per share ($’s)

2.87

2.81

2.57

2.87

2.57


Selected Balance Sheet Data

Total assets

331,636

315,312

251,568

331,636

251,568

Securities available-for-sale

36,636

29,854

24,283

36,636

24,283

Loans

249,684

240,979

178,120

249,684

178,120

Allowance for loan losses

2,996

2,991

2,945

2,996

2,945

Deposits

279,187

268,836

221,032

279,187

221,032

Other borrowings

21,574

14,808

2,808

21,574

2,808

Shareholders’ equity

23,589

23,049

20,732

23,589

20,732


Performance Ratios (%)

Return on average shareholders’ equity
 (annualized) 

7.10

6.62

8.82

7.10

8.82

Net interest margin

4.03

4.51

4.47

4.03

4.47

Efficiency ratio 

82.45

85.38

81.32

82.45

81.32


Asset Quality Data (%)

Nonperforming assets to total assets 

1.30

1.45

4.23

1.30

4.23

Reserve for loan losses to total loans 

1.20

1.24

1.65

1.20

1.65

Charge-offs to average loans for period

(0.01)

(0.02)

(0.2)

(0.01)

(0.2)


Regulatory Capital Ratios (%)

Common Equity Tier 1 

12.95

13.40

12.97

12.95

12.97

Tier 1 risk-based capital ratio 

12.95

13.40

12.97

12.95

12.97

Total risk-based capital ratio 

14.20

14.65

14.22

14.20

14.22

Tier 1 leverage capital ratio 

8.80

9.22

11.06

8.80

11.06

Contact:
Chris Webster
President & CEO
480-253-4511
[email protected] 

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SOURCE Commerce Bank of Arizona

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Shareholder Alert: Robbins LLP Announces Interface, Inc. (TILE) is Being Sued for Misleading Shareholders

Shareholder Alert: Robbins LLP Announces Interface, Inc. (TILE) is Being Sued for Misleading Shareholders

SAN DIEGO & ATLANTA–(BUSINESS WIRE)–
Shareholder rights law firm Robbins LLP announces that a purchaser of Interface, Inc. (NASDAQ: TILE) filed a class action complaint against the Company and its officers and directors for alleged violations of the Securities & Exchange Act of 1934 between March 2, 2018 and September 28, 2020. Interface designs, produces and sells modular carpet products In the Americas, Europe and Asia-Pacific.

If you suffered a loss due to Interface’s misconduct, click here.

Interface, Inc. (TILE) Misled Shareholders About its Internal Controls Over Financial Reporting

According to the complaint, throughout the relevant period, Interface failed to disclose that it had inadequate disclosure controls and procedures and internal controls over financial reporting.

On April 24, 2019, Interface filed a report on Form 8-K with the SEC disclosing that it had “received a letter in November 2017 from the [SEC] requesting that the Company voluntarily provide information and documents in connection with an investigation into the Company’s historical quarterly [EPS] calculations and rounding practices during the period 2014-2017″; that ‘[t]he Company subsequently received subpoenas from the SEC in February 2018, July 2018 and April 2019 requesting additional documents and information”; and that “[i]n the fourth quarter of 2018, the Company conducted at the SEC’s request an internal investigation into these and other related issues for seven quarters in 2015, 2016 and 2017.” The SEC announced the conclusion of its investigation into Interface’s historical EPS calculations and rounding practices on September 28, 2020. The SEC’s enforcement order disclosed how “Interface employees caused Interface to produce documents in response to Commission investigative requests that were suggestive of contemporaneous support for journal entries that, in truth, did not exist at the time the entries were recorded,” and had modified certain documents after the SEC’s investigation began. Interface agreed to pay a $5 million fine to resolve the matter and was ordered to cease and desist violating the federal securities laws. On this news, the Company’s stock fell 3.13% over two trading sessions to close at $6.18 on September 29, 2020.

If you purchased Interface, Inc. (TILE) securities between March 2, 2018 and September 28, 2020, you have until January 11, 2021, to ask the court to appoint you lead plaintiff for the class.

Contact us to learn more:

Lauren Levi

(800) 350-6003

[email protected]

Shareholder Information Form

Robbins LLP is a nationally recognized leader in shareholder rights law. To be notified if a class action against Interface, Inc. settles or to receive free alerts about companies engaged in wrongdoing, sign up for Stock Watch today.

Attorney Advertising. Past results do not guarantee a similar outcome.

Lauren Levi

Robbins LLP

5040 Shoreham Place

San Diego, CA 92122

[email protected]

(800) 350-6003

www.robbinsllp.com

KEYWORDS: California Georgia United States North America

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

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VEON provides update on Jazz Pakistan

FY2017 tax dispute

PR Newswire

AMSTERDAM, Nov. 13, 2020 /PRNewswire/ — VEON Ltd.(NASDAQ: VEON) (Amsterdam: VEON) notes recent press stories regarding its subsidiary in Pakistan (PMCL operating as Jazz) and tax disputes relating to FY2017. Jazz continues to dispute a 25bn PKR assessment and surcharge by the Federal Board of Revenue (FBR) and has filed a challenge to the FBR position in the Islamabad High Court.

On 12 November,  Jazz was granted a stay on the FBR’s demand and, in connection with the stay, deposited PKR 5 billion as a pre-payment against any amounts finally determined to be due by the Pakistani courts.  The next hearing in the matter is scheduled for 2 December 2020.

Disclaimer

This release contains “forward-looking statements”, as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, expectations regarding future events. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events.

About VEON

VEON is a NASDAQ and Euronext Amsterdam-listed global provider of connectivity and internet services, headquartered in Amsterdam. For more information visit: http://www.veon.com.

Contact Information
VEON
Investor Relations
Nik Kershaw
[email protected]

 

 

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SOURCE VEON Ltd

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AGCO to Present at the Bernstein Operational Decisions Conference

AGCO to Present at the Bernstein Operational Decisions Conference

DULUTH, Ga.–(BUSINESS WIRE)–
AGCO, Your Agriculture Company (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment and infrastructure, announced today that it will participate in the Bernstein Operational Decisions Conference on Monday, November 16, 2020. The conference will include a presentation by Andy Beck, AGCO’s Senior Vice President and Chief Financial Officer at 1:30 p.m. E.T. Investors may listen to a live webcast of the presentation by accessing the webcast button in the “Investors” section of the Company’s website at http://www.agcocorp.com/company/investors.aspx. The webcast will also be archived immediately afterwards.

About AGCO

AGCO (NYSE:AGCO) is a global leader in the design, manufacture and distribution of agricultural solutions and delivers high-tech solutions for farmers feeding the world through its full line of equipment and related services. AGCO products are sold through five core brands, Challenger®, Fendt®, GSI®, Massey Ferguson® and Valtra®, supported by Fuse® smart farming solutions. Founded in 1990 and headquartered in Duluth, Georgia, USA, AGCO had net sales of $9.0 billion in 2019. For more information, visit http://www.AGCOcorp.com. For company news, information and events, please follow us on Twitter: @AGCOCorp. For financial news on Twitter, please follow the hashtag #AGCOIR.

Please visit our website at www.agcocorp.com

Greg Peterson

Vice President, Investor Relations

(770) 232-8229

[email protected]

KEYWORDS: Georgia United States North America

INDUSTRY KEYWORDS: Agriculture Natural Resources

MEDIA:

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UROVANT ALERT: Bragar Eagel & Squire, P.C. Investigates Sale of UROV and Encourages Investors to Contact the Firm

NEW YORK, Nov. 13, 2020 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Urovant Sciences Ltd. (NASDAQ: UROV) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by Sumitovant Biopharma Ltd.

Click here to learn more and participate in the action.

On November 12, 2020, Urovant announced that it had signed an agreement to be acquired by Sumitovant for approximately $584 million. Pursuant to the merger agreement, Urovant stockholders will receive $16.25 in cash for each share of Urovant common stock owned. The deal is scheduled to close in the first quarter of 2021.

Bragar Eagel & Squire is concerned that Urovant’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Urovant’s stockholders.

If you own shares of Urovant and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at [email protected] or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information:

Bragar Eagel & Squire, P.C.
Melissa Fortunato, Esq.
Alexandra Raymond, Esq.
[email protected]
www.bespc.com



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SHAREHOLDER ALERT: WeissLaw LLP Investigates Urovant Sciences Ltd.

PR Newswire

NEW YORK, Nov. 13, 2020 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Urovant Sciences Ltd. (“UROV” or the “Company”) (NASDAQ: UROV) in connection with the proposed interested-party acquisition of the Company by Sumitovant Biopharma Ltd. (“Sumitovant”), UROV’s majority shareholder that currently owns 72% of the Company’s outstanding common shares. Under the terms of the acquisition agreement, the Company’s shareholders will receive only $16.25 in cash for each share of UROV common stock that they own.


If you own UROV 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/urov/


Or please contact:



Joshua Rubin, Esq.

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

WeissLaw is investigating whether (i) the special committee of UROV’s board was truly independent and acted to maximize shareholder value in agreeing to the proposed transaction, (ii) the $16.25 per share merger consideration adequately compensates UROV’s minority shareholders, (iii) the special committee was fully informed as to the valuation of the proposed acquisition of the Company, and (iv) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed. These issues are of particular concern given the influence and control Sumitovant wields over UROV by virtue of its ownership of a majority of the Company’s outstanding shares. Moreover, the per-share merger consideration is significantly lower than an analyst price target of $28.00, suggesting the special committee may have agreed to an undervalued deal at the behest of Sumitovant.

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

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PCT LTD Announces Receipt of New $300K Conventional Convertible Funding from RB Capital Partners, Inc. and Updates Status of OTCQB Application

PCT LTD Announces Receipt of New $300K Conventional Convertible Funding from RB Capital Partners, Inc. and Updates Status of OTCQB Application

LITTLE RIVER, S.C.–(BUSINESS WIRE)–
PCT LTD (OTC Pink: PCTL) announces that, on Wednesday, November 11, 2020 the Company executed an additional 6-month term conventional convertible note with RB Capital Partners, Inc. in the amount of $300,000 with a conversion price of $0.15/share of PCT LTD’s common stock (par value $0.001) and a five percent (5%), fixed annual interest rate. Much of this funding is dedicated to the purchase of inventory needed to finish assembly of equipment to fulfill current orders, as well as prepare additional equipment for impending sales that are in the pipeline now. In addition, a portion of this funding is being used by PCT LTD to settle the last of the remaining prior year convertible debt which will allow the Company to finalize the move to OTCQB.

About PCT LTD:

PCT LTD (“PCTL”) focuses its business on acquiring, developing and providing sustainable, environmentally safe disinfecting, cleaning and tracking technologies. The company acquires and holds rights to innovative products and technologies, which are commercialized through its wholly-owned operating subsidiary, Paradigm Convergence Technologies Corporation (PCT Corp). Currently trading on OTC:PINK, “PCTL” is actively engaged in applying for listing its common stock to the OTC QB market. The Company established entry into its target markets with commercially viable products in the United States and now continues to gain market share in the U.S. and U.K.

ADDITIONAL NEWS AND CORPORATE UPDATES:

PCTL would like to warn its stockholders and potential investors that material corporate information regarding sales, areas of business and other corporate updates will only be made through press releases or filings with the SEC. PCTL does not utilize social media, chatrooms or other online sources to disclose material information. The public should only rely on official press releases and corporate filings for accurate and up to date information regarding PCTL.

Forward-Looking Statements:

This press release contains “forward-looking statements” as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.”

Such statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Such statements involve risks and uncertainties, including but not limited to: the actual results of PCTL’s ability to order and receive inventory in a timely manner; PCTL’s continued installation of equipment; subsequent installations of PCTL’s Annihilyzer Infection Control Systems and other larger-volume equipment; PCTL’s ability to raise sufficient funds to satisfy its working capital requirements; the ability of PCTL to execute its business plan; the anticipated results of business contracts with regard to revenue; and any other effects resulting from the information disclosed above; risks and effects of legal and administrative proceedings and government regulation; future financial and operational results; competition; general economic conditions; and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements PCTL makes in this press release include market conditions and those set forth in reports or documents it files from time to time with the SEC. PCTL undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Gary Grieco, CEO and Chairman, PCT LTD

(843) 390-7900 Office

(843) 390-2347 Fax

www.para-con.com

www.pctcorphealth.com

www.survivalyte.com

Rich Inza, Investor Relations (RMJ Consulting, LLC)

(843) 491-4611

[email protected]

Dave Donlin, Investor Relations (Cervelle Group)

(407) 405-8142

KEYWORDS: United States North America South Carolina

INDUSTRY KEYWORDS: Health Communications Social Media Environment Search Engine Optimization General Health Public Relations/Investor Relations

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BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. Announces Final Results of Initial Quarterly Tender Offer

BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. Announces Final Results of Initial Quarterly Tender Offer

NEW YORK–(BUSINESS WIRE)–
BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. (the “Fund”) today announced the final results of its initial quarterly tender offer (the “Tender Offer”) for up to 2.5% of the Fund’s issued and outstanding shares of common stock (the “Shares”).

The Tender Offer, which expired at 5:00 p.m. Eastern time on November 12, 2020, was oversubscribed.

Therefore, in accordance with the terms and conditions of the Tender Offer, the Fund will purchase Shares from all tendering shareholders on a pro rata basis, after disregarding fractions, based on the number of Shares properly tendered (“Pro-Ration Factor”). The final results of the Tender Offer are provided in the table below.

Number of Shares

Tendered

Number of Tendered

Shares to Be

Purchased

Pro- Ration Factor

Purchase Price*

205,585

66,325

0.32261595

$94.81

*Purchase Price is equal to 100% of the Fund’s net asset value per Share as of September 30, 2020.

If you have questions about the Tender Offer and hold Shares through a broker or other nominee holder, you can call your broker or other nominee holder directly. You may also call Georgeson LLC, the Fund’s Tender Offer information agent, toll free at (877) 278-9670, with any questions.

This announcement is for informational purposes only and is not a recommendation, an offer to purchase or a solicitation of an offer to sell Shares. The terms and conditions of the Tender Offer were set forth in the Fund’s Offer to Purchase, the related Letter of Transmittal and other related documents. The Fund filed with the Securities and Exchange Commission (the “SEC”) a tender offer statement on Schedule TO and related exhibits, including an Offer to Purchase, a related Letter of Transmittal and other related documents (the “Offer Documents”). Shareholders may obtain copies of the Offer Documents, without charge, by contacting Georgeson LLC, the Fund’s Tender Offer information agent, toll free at (877) 278-9670. Shareholders can also obtain the Offer Documents free of charge on the SEC’s website at www.sec.gov.

*****

BNY Mellon Investment Adviser, Inc., the investment adviser for the Fund, is part of BNY Mellon Investment Management. BNY Mellon Investment Management is one of the world’s leading investment management organizations and one of the top U.S. wealth managers, with US $2.0 trillion in assets under management as of September 30, 2020. BNY Mellon Investment Management encompasses BNY Mellon’s affiliated investment management firms, wealth management organization and global distribution companies. Through an investor-first approach, BNY Mellon Investment Management brings to clients the best of both worlds: specialist expertise from eight world-class investment firms offering solutions across every major asset class, backed by the strength, stability, and global presence of The Bank of New York Mellon Corporation (NYSE: BK), one of the world’s most trusted investment partners, which has US $38.6 trillion in assets under custody and/or administration as of September 30, 2020.

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation and may also be used as a generic term to reference the Corporation as a whole or its various subsidiaries generally. Additional information on BNY Mellon Investment Management is available on www.im.bnymellon.com. BNY Mellon Investment Management’s website is intended to allow investors public access to information regarding the Fund and does not, and is not intended to, incorporate the website in this release.

The Fund’s investment returns and principal values will fluctuate so that an investor’s shares may be worth more or less than the original cost. There is no assurance that the Fund will achieve its investment objective.

For Press Inquiries:

BNY Mellon Investment Adviser, Inc.

Benjamin Tanner

(212) 635-8676

For Other Inquiries:

BNY Mellon Securities Corporation

The National Marketing Desk

240 Greenwich Street

New York, New York 10286

1-800-334-6899

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Banking Professional Services Finance

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