Market Newsdesk

December 18, 2020 4:33 pm

Clean Power Capital Corp. Engages Canaccord Genuity Corp. as a Financial Advisor

VANCOUVER, British Columbia, Dec. 18, 2020 (GLOBE NEWSWIRE) — Clean Power Capital Corp. (CSE: MOVE)(FWB: 2K6)(OTC: MOTNF) (“Clean Power” or the “Company” or “MOVE”). Further to the Company’s previous announcement on December 3, 2020 regarding the launch of a review and development of its capital markets strategy in the U.S., Clean Power is pleased to announce that it has appointed Canaccord Genuity Corp. (“Canaccord”) as financial advisor. Canaccord, a global investment bank with a strong clean technology practice in the U.S., has been engaged by the Company on a broad mandate to advise Clean Power on M&A opportunities and capital raise solutions.

Canaccord, a leading independent, full-service financial services firm with a global capital markets practice, earned firm-wide revenue of $1.2 billion in fiscal 2020, the third consecutive year that its revenues surpassed $1 billion. Canaccord Genuity has financed and advised an expansive list of sustainability-oriented technology companies including amongst others Plug Power Inc., FuelCell Energy Inc., Soraa Inc., and Greenlane Renewables Inc.

The outcome of the Company’s review and development of its capital markets strategy will depend on the opportunities which arise within such process, and there is no assurance of any particular outcome or its timing. Given the nature of the process, Clean Power does not intend to make any future announcements concerning this process related to the development of its capital markets strategy until such time as it determines that further disclosure is necessary or appropriate.

ABOUT CLEAN POWER CAPITAL CORP.

Clean Power is an investment company, that specializes in investing into private and public companies opportunistically that may be engaged in a variety of industries, with a current focus in the health and renewable energy industries. In particular, the investment mandate is focused on high return investment opportunities, the ability to achieve a reasonable rate of capital appreciation and to seek liquidity in our investments. A copy of Clean Power’s amended and restated investment policy may be found under the Company’s profile at www.sedar.com.

ON BEHALF OF THE CLEAN POWER CAPITAL CORP. BOARD OF DIRECTORS

“Joel Dumaresq”

Joel Dumaresq, CEO
+1 (604) 687-2038
[email protected]

Learn more about Clean Power by visiting our website at: https://cleanpower.capital/

Notice Regarding Forward Looking Information:

This press release contains “forward-looking information” and “forward-looking statements” (together, “forward-looking statements”) within the meaning of applicable Canadian and United States securities laws. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking information in this press release includes statements relating to the Company’s consideration of potential mergers & acquisitions opportunities, potential capital raise solutions, and any other opportunities arising out of the Company’s strategic plans. The outcome of the Company’s review and development of its capital markets strategy will depend on the opportunities which arise within such process, and there is no assurance of any particular outcome or its timing.

Although the Company believes that the material factors, expectations and assumptions expressed in such forward- looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance.

The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward- looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

December 18, 2020 4:22 pm

Playtika Files Registration Statement for Proposed Initial Public Offering

HERZLIYA, Israel, Dec. 18, 2020 (GLOBE NEWSWIRE) — Playtika Holding Corp. today announced that it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. Playtika has applied to list its common stock on the Nasdaq Global Select Market under the symbol “PLTK.”

Morgan Stanley and Credit Suisse will act as lead bookrunners for the proposed offering. Citigroup, Goldman Sachs & Co. LLC, UBS Investment Bank, and BofA Securities will act as additional bookrunners for the proposed offering. Baird, Cowen, Stifel, and Wedbush Securities will act as co-managers for the proposed offering.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained from: Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attn: Prospectus Department or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, by telephone at (800) 221-1037 or by email at [email protected].

A registration statement relating to the proposed sale of these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these 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 Playtika

Playtika is a leading independent mobile games company and monetization platform with over 35 million monthly active users across a portfolio of games titles. Founded in 2010, Playtika was among the first to offer free-to-play social games on social networks and, shortly after, on mobile platforms. Headquartered in Herzliya, Israel, Playtika has over 3,700 employees in offices worldwide including Tel-Aviv, London, Berlin, Vienna, Helsinki, Montreal, Chicago, Las Vegas, Santa Monica, Sydney, Buenos Aires, Tokyo, Kiev, Bucharest, Minsk, Dnepr, and Vinnytsia.

Contact

Investor Contact

Playtika
David Niederman
[email protected]

Press Contact

The OutCast Agency
Angela Allison
[email protected]

December 18, 2020 4:18 pm

Perspecta Awarded Next Generation Enterprise Services Contract Extension from the U.S. Navy

PR Newswire

CHANTILLY, Va., Dec. 18, 2020 /PRNewswire/ — Perspecta Inc. (NYSE: PRSP), a leading U.S. government services provider, announced today that it was awarded an extension of the NGEN (Next Generation Enterprise Network) contract from the U.S. Department of the Navy with a maximum ceiling value of $797 million, if all options are exercised, for continued delivery of enterprise IT services. The indefinite delivery / indefinite quantity (ID/IQ) contract includes an extension for six months of support, from Jan.1, 2021 to June 30, 2021, and three one-month options beyond that timeframe.

Under NGEN, Perspecta operates the Navy Marine Corps Intranet (NMCI), the world’s largest intranet, with approximately 400,000 seats representing 800,000 Navy and Marine Corps uniformed and civilian users, largely within the continental United States. Perspecta has provided continuous support for the original NGEN contract, which would have expired in June 2018. This latest extension continues that support through at least mid-2021.

About Perspecta Inc.

At Perspecta (NYSE: PRSP), we question, we seek and we solve. Perspecta brings a diverse set of capabilities to our U.S. government customers in defense, intelligence, civilian, health care and state and local markets. Our 280+ issued, licensed and pending patents are more than just pieces of paper, they tell the story of our innovation. With offerings in mission services, digital transformation and enterprise operations, our team of nearly 14,000 engineers, analysts, investigators and architects work tirelessly to not only execute the mission, but build and support the backbone that enables it. Perspecta was formed to take on big challenges. We are an engine for growth and success and we enable our customers to build a better nation. For more information about Perspecta, visit perspecta.com.

This press release may contain- forward-looking statements. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Perspecta and are subject to significant risks and uncertainty. Readers are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Perspecta undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Perspecta believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve a variety of risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements.

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SOURCE Perspecta Inc.

December 18, 2020 4:18 pm

InfraCap REIT Preferred ETF (NYSE Arca: PFFR) Declares Monthly Dividend

PR Newswire

NEW YORK, Dec. 18, 2020 /PRNewswire/ — The InfraCap REIT Preferred ETF (NYSE Arca: PFFR) (the “Fund”) has declared a monthly distribution of $0.12 per share ($1.44 per share on an annualized basis). The distribution will be paid December 30, 2020 to shareholders of record as of the close of business December 22, 2020.

PFFR Cash Distribution:

Ex-Date: Monday, December 21, 2020
Record Date: Tuesday, December 22, 2020
Payable Date: Wednesday, December 30, 2020

Infrastructure Capital Advisors expects to declare future dividends on a monthly basis. Distributions are planned, but not guaranteed, for every month. The next distribution is scheduled to occur in January 2021.

For more information about PFFR’s distribution policy, its 2020 distribution calendar, or tax information, please visit the Fund’s website at www.virtusetfs.com.

About Virtus ETF Advisers

Virtus ETF Advisers is a New York-based, multi-manager ETF sponsor and affiliate of Virtus Investment Partners. With actively managed and index-based investment capabilities across multiple asset classes, Virtus offers a range of complementary exchange-traded-funds subadvised by select investment managers.

About Infrastructure Capital Advisors, LLC

Infrastructure Capital Advisors, LLC (ICA) is an SEC-registered investment advisor that manages exchange traded funds and a series of hedge funds. The firm was formed in 2012 and is based in New York City. ICA seeks total-return opportunities in key infrastructure sectors, including energy, real estate, transportation, industrials and utilities. It often identifies opportunities in entities that are not taxed at the entity level, such as master limited partnerships (“MLPs”) and real estate investment trusts (“REITs”). It also looks for opportunities in credit and related securities, such as preferred stocks. Current income is a primary objective in most, but not all, of the company’s investing activities. The focus is generally on asset-intensive companies that generate and distribute substantial streams of free cash flow. For more information, please visit www.infracapfunds.com.

Contacts:

Fund Information:
ETF Distributors LLC
Phone: 212-593-4383 or 1-888-383-4184 (toll free)
Email: [email protected]

Media Contact:
Joe Fazzino
860 263-4725
[email protected]

DISCLOSURE

Fund Risks

Exchange-Traded Funds (ETF): The value of an ETF may be more volatile than the underlying portfolio of securities it is designed to track. The costs of owning the ETF may exceed the cost of investing directly in the underlying securities. Preferred Stocks: Preferred stocks may decline in price, fail to pay dividends, or be illiquid. Real Estate Investments: The Fund may be negatively affected by factors specific to the real estate market, including interest rates, leverage, property, and management. Industry/Sector Concentration: A Fund that focuses its investments in a particular industry or sector will be more sensitive to conditions that affect that industry or sector than a non-concentrated Fund. Passive Strategy/Index Risk: A passive investment strategy seeking to track the performance of the underlying index may result in the Fund holding securities regardless of market conditions or their current or projected performance. This could cause the Fund’s returns to be lower than if the Fund employed an active strategy. Correlation to Index: The performance of the Fund and its index may vary somewhat due to factors such as Fund flows, transaction costs, and timing differences associated with additions to and deletions from its index. Market Volatility: Securities in the Fund may go up or down in response to the prospects of individual companies and general economic conditions. Price changes may be short or long term. Prospectus: For additional information on risks, please see the Fund’s prospectus.

You should consider the Fund’s investment objectives, risks, and charges and expenses carefully before investing. Contact ETF Distributors LLC at 1-888-383-4184 or visit

www.virtusetfs.com

to obtain a prospectus which contains this and other information about the Fund. The prospectus should be read carefully before investing.

Virtus ETF Advisers, LLC serves as the investment advisor and Infrastructure Capital Advisors, LLC serves as the subadviser to the Fund.

The Fund is distributed by VP Distributors, LLC, member FINRA and subsidiary of Virtus Investment Partners, Inc.

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SOURCE Infracap REIT Preferred ETF

December 18, 2020 4:18 pm

Virtus InfraCap U.S. Preferred Stock ETF (NYSE Arca: PFFA) Declares Monthly Distribution

PR Newswire

NEW YORK, Dec. 18, 2020 /PRNewswire/ — The Virtus InfraCap U.S. Preferred Stock ETF (NYSE Arca: PFFA) (the “Fund”) has declared a monthly distribution of $0.15 per share ($1.80 per share on an annualized basis). The distribution will be paid December 30, 2020 to shareholders of record as of the close of business December 22, 2020.

PFFA Cash Distribution:

Ex-Date: Monday, December 21, 2020
Record Date: Tuesday, December 22, 2020
Payable Date: Wednesday, December 30, 2020

Infrastructure Capital Advisors expects to declare future distributions on a monthly basis. Distributions are planned, but not guaranteed, for every month. The next distribution is scheduled to occur in January 2021.

For more information about PFFA’s distribution policy, its 2020 distribution calendar, or tax information, please visit the Fund’s website at www.virtusetfs.com.

About Virtus ETF Advisers

About Infrastructure Capital Advisors, LLC

Contacts:

Fund Information:
ETF Distributors LLC
Phone: 212-593-4383 or 1-888-383-4184 (toll free)
Email: [email protected]

Media Contact:
Joe Fazzino
860 263-4725
[email protected]

DISCLOSURE

Fund Risks

Exchange Traded Funds: The value of an ETF may be more volatile than the underlying portfolio of securities the ETF is designed to track. The costs of owning the ETF may exceed the cost of investing directly in the underlying securities. Preferred Stock: Preferred stocks may decline in price, fail to pay dividends, or be illiquid. Non-Diversified: The Fund is non-diversified and may be more susceptible to factors negatively impacting its holdings to the extent that each security represents a larger portion of the Fund’s assets. Short Sales: The Fund may engage in short sales, and may experience a loss if the price of a borrowed security increases before the date on which the Fund replaces the security. Leverage: When a Fund leverages its portfolio, the value of its shares may be more volatile and all other risks may be compounded. Derivatives: Investments in derivatives such as futures, options, forwards, and swaps may increase volatility or cause a loss greater than the principal investment. No Guarantee: There is no guarantee that the portfolio will meet its objective. Prospectus: For additional information on risks, please see the Fund’s prospectus.

Virtus ETF Advisers, LLC serves as the investment advisor and Infrastructure Capital Advisors, LLC serves as the subadviser to the Fund.

The Fund is distributed by VP Distributors, LLC, member FINRA and subsidiary of Virtus Investment Partners, Inc.

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SOURCE Virtus InfraCap U.S. Preferred Stock ETF

December 18, 2020 4:18 pm

InfraCap MLP ETF (NYSE Arca: AMZA) Declares Monthly Distribution

PR Newswire

NEW YORK, Dec. 18, 2020 /PRNewswire/ — The InfraCap MLP ETF (NYSE Arca: AMZA) (the “Fund”) has declared a monthly distribution of $0.22 ($2.64 per share on an annualized basis). The distribution will be paid January 8, 2021 to shareholders of record as of the close of business January 5, 2021.

AMZA Cash Distribution:

Ex-Date: Monday, January 4, 2021
Record Date: Tuesday, January 5, 2021
Payable Date: Friday, January 8, 2021

The Fund estimates that 100 percent of the distribution, or $0.22 per share, is attributable to return of capital and that 0.00 percent, or $0.00 per share, is attributable to dividend income. Infrastructure Capital Advisors expects to declare future distributions on a monthly basis. Distributions are planned, but not guaranteed, for every month. The next distribution is scheduled to occur in January 2021.

For more information about AMZA’s distribution policy, its 2020 distribution calendar, or tax information, please visit the Fund’s website at www.virtusetfs.com.

About Virtus ETF Advisers

About Infrastructure Capital Advisors

Contacts:

Fund Information:
ETF Distributors LLC
Phone: 212-593-4383 or 1-888-383-4184 (toll free)
Email: [email protected]

Media Contact:
Joe Fazzino
860 263-4725
[email protected]

DISCLOSURE

Fund Risks

MLP Interest Rates: As yield-based investments, MLPs carry interest rate risk and may underperform in rising interest rate environments. Additionally, when investors have heightened fears about the economy, the risk spread between MLPs and competing investment options can widen, which may have an adverse effect on the stock price of MLPs. Rising interest rates may increase the potential cost of MLPs financing projects or cost of operations, and may affect the demand for MLP investments, either of which may result in lower performance by or distributions from the Fund’s MLP investments.

Industry/Sector Concentration: A fund that focuses its investments in a particular industry or sector will be more sensitive to conditions that affect that industry or sector than a non-concentrated fund.

Short Sales: The Fund may engage in short sales, and may experience a loss if the price of a borrowed security increases before the date on which the Fund replaces the security.

Leverage: When a Fund leverages its portfolio, the value of its shares may be more volatile and all other risks may be compounded.

Derivatives: Investments in derivatives such as futures, options, forwards, and swaps may increase volatility or cause a loss greater than the principal investment.

MLPs: Investments in Master Limited Partnerships may be adversely impacted by tax law changes, regulation, or factors affecting underlying assets.

No Guarantee: There is no guarantee that the portfolio will meet its objective.

You should consider the Fund’s investment objectives, risks, and charges and expenses carefully before investing. Contact ETF Distributors LLC at 1-888-383-4184 or visit

www.infracapmlp.com

to obtain a prospectus which contains this and other information about the Fund. The prospectus should be read carefully before investing.

Virtus ETF Advisers, LLC serves as the investment advisor and Infrastructure Capital Advisors, LLC serves as the sub-advisor to the Fund.

The Fund is distributed by VP Distributors, LLC, member FINRA and subsidiary of Virtus Investment Partners, Inc.

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SOURCE Infracap MLP ETF

December 18, 2020 4:18 pm

Construction Partners, Inc. Completes North Carolina Acquisition

Transaction Adds Two Hot-Mix Asphalt Plants on East Coast

PR Newswire

DOTHAN, Ala., Dec. 18, 2020 /PRNewswire/ — Construction Partners, Inc. (NASDAQ: ROAD) (the “Company” or “Construction Partners”), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways across five southeastern states, today announced that it has acquired R.P.C. Contracting, Inc., an asphalt and paving contractor based in Kitty Hawk, North Carolina. The transaction adds two hot-mix asphalt plants to the Company’s North Carolina footprint.

“Today’s transaction adds two dynamic markets in northeastern North Carolina, including the Outer Banks, and extends the geographic territory we added in our recent acquisition of Rose Brothers Paving Company,” said Fred J. (Jule) Smith, III, Chief Operating Officer of Construction Partners.

Smith continued, “We believe that operators in our industry are drawn to Construction Partners as a dynamic and growing organization, with opportunities for continued growth and success following the completion of a sale transaction. Of the four businesses we have acquired in North Carolina this quarter, three of the owners have chosen to remain with our Company and will contribute to our future success. We welcome Robbie Parker and his team to Construction Partners.”

About Construction Partners, Inc.

Construction Partners, Inc. is a vertically integrated civil infrastructure company operating across five southeastern states, with 48 hot-mix asphalt plants, nine aggregate facilities and one liquid asphalt terminal. Publicly funded projects make up the majority of its business and include local and state roadways, interstate highways, airport runways and bridges. The majority of the Company’s public projects are maintenance-related. Private sector projects include paving and sitework for office and industrial parks, shopping centers, local businesses and residential developments. To learn more, visit www.constructionpartners.net.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained herein that are not statements of historical or current fact constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and 21E of the Securities Exchange Act of 1934. These statements may be identified by the use of words such as “seek” “continue,” “estimate,” “predict,” “potential,” “targeting,” “could,” “might,” “may,” “will,” “expect,” “should,” “anticipate,” “intend,” “project,” “outlook,” “believe,” “plan” and similar expressions or their negative. The forward-looking statements contained in this press release include, without limitation, statements relating to the benefits of a business acquisition and the expected results of the acquired business. These and other forward-looking statements are based on management’s current views and assumptions and involve risks and uncertainties that could significantly affect expected results. Important factors that could cause actual results to differ materially from those expressed in the forward-looking statements are set forth in the Company’s most recent Annual Report on Form 10-K, its subsequent Quarterly Reports on Form 10-Q, its Current Reports on Form 8-K and other reports the Company files with the SEC. Forward-looking statements speak only as of the date they are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events, or circumstances or other changes affecting such statements except to the extent required by applicable law.

Contact:

Rick Black

Dennard Lascar Investor Relations
[email protected]
(713) 529-6600

View original content:http://www.prnewswire.com/news-releases/construction-partners-inc-completes-north-carolina-acquisition-301196218.html

SOURCE Construction Partners, Inc.

December 18, 2020 4:18 pm

AutoNation Donates $62,000 for Moffitt Cancer Center

AutoNation stores in Tampa, St. Petersburg and Sarasota raise funds through credit card donation program

PR Newswire

SARASOTA, Fla., Dec. 18, 2020 /PRNewswire/ — AutoNation, Inc. (NYSE: AN), AutoNation, America’s largest and most recognized automotive retailer, presented a $62,000 check to Moffitt Cancer Center at Mercedes-Benz of Sarasota on Tuesday, Dec. 8. Funds were raised through AutoNation’s cash register charity program, the support of the community and Associates at AutoNation stores in Tampa, St. Petersburg and Sarasota. With a donation program in place at all point of purchase terminals, customers make donations to the charity by adding an amount to their credit card, 100% of which goes directly to the charity.

According to Patrick Terhaar, Market President for AutoNation’s Tampa Bay, Illinois, and Minnesota markets, “AutoNation Customers and Associates have been generous in raising funds to drive out cancer. We are so proud to support the critical work of Moffitt Cancer Center. We were honored to be the presenting sponsor of Miles for Moffitt for the 8^th consecutive year. This year the race was held virtually and as a united community, we raised $62,000!”

AutoNation has a long track record of supporting communities, most notably through its DRV PNK Mission which has raised almost $26 million to support cancer research and treatment.

About AutoNation, Inc.

AutoNation, America’s largest and most recognized automotive retailer, is transforming the automotive industry through its bold leadership, innovation, and comprehensive brand extensions. As of September 30, 2020, AutoNation owned and operated over 325 locations from coast to coast. AutoNation has sold over 12 million vehicles, the first automotive retailer to reach this milestone. AutoNation’s success is driven by a commitment to delivering a peerless experience through customer-focused sales and service processes. Since 2013, AutoNation has raised $25 million to drive out cancer, create awareness, and support critical research through its DRIVE PINK initiative, which was officially branded in 2015.

Please visit www.autonation.com, investors.autonation.com, www.twitter.com/CEOMikeJackson, and www.twitter.com/AutoNation, where AutoNation discloses additional information about the Company, its business, and its results of operations. Please also visit www.autonationdrive.com, AutoNation’s automotive blog, for information regarding the AutoNation community, the automotive industry, and current automotive news and trends.

About Moffitt Cancer Center

Moffitt
is dedicated to one lifesaving mission: to contribute to the prevention and cure of cancer. The Tampa-based facility is one of only 51National Cancer Institute-designated Comprehensive Cancer Centers, a distinction that recognizes Moffitt’s scientific excellence, multidisciplinary research, and robust training and education. Moffitt is the No. 11 cancer hospital and has been nationally ranked by U.S. News & World Report since 1999. Moffitt’s expert nursing staff is recognized by the American Nurses Credentialing Center with Magnet^® status, its highest distinction. With more than 7,000 team members, Moffitt has an economic impact in the state of $2.4 billion. For more information, call 1-888-MOFFITT (1-888-663-3488), visit MOFFITT.org, and follow the momentum on Facebook, Twitter, Instagram and YouTube.

View original content to download multimedia:http://www.prnewswire.com/news-releases/autonation-donates-62-000-for-moffitt-cancer-center-301196234.html

SOURCE AutoNation, Inc.

December 18, 2020 4:18 pm

NIKE, Inc. Reports Fiscal 2021 Second Quarter Results

NIKE, Inc. Reports Fiscal 2021 Second Quarter Results

BEAVERTON, Ore.–(BUSINESS WIRE)–
NIKE, Inc. (NYSE:NKE) today reported fiscal 2021 financial results for its second quarter ended November 30, 2020.

Second quarter reported revenues were $11.2 billion, up 9 percent compared to prior year and up 7 percent on a currency-neutral basis* driven by growth across all geographies, led by Greater China reported revenue growth of 24 percent
NIKE Direct sales were $4.3 billion, up 32 percent on a reported basis, and up 30 percent on a currency-neutral basis, with double-digit growth across all geographies
NIKE Brand digital sales increased 84 percent, or 80 percent on a currency-neutral basis, with triple-digit growth in North America and strong double-digit increases in EMEA, Greater China and APLA
Diluted earnings per share for the quarter was $0.78, up 11 percent
Inventories declined 2 percent versus prior year and have returned to healthy levels globally

“NIKE’s strong results during a dynamic environment show the power of staying on the offense,” said John Donahoe, President and CEO, NIKE, Inc. “Fueled by compelling innovative product and global brand momentum, we continue to extend our leadership. Our strategy is working, and we are excited for what’s ahead.”**

Our second quarter revenue performance was impacted by strong NIKE Brand digital growth of 84 percent, offset by lower revenue in our wholesale business and NIKE-owned stores. During the quarter, we experienced temporary door closures in geographies affected by rising COVID-19 cases; however, more than 90% of our owned stores are open today, with some operating on reduced hours. We continue to experience year-over-year declines in physical retail traffic in North America, EMEA and APLA due to COVID-19 impacts and safety-related measures, partially offset by higher conversion rates.

“With healthy inventory positions across all geographies, our return to growth is a testament to our digital strength, as well as our disciplined marketplace and financial management,” said Matt Friend, Executive Vice President and Chief Financial Officer, NIKE, Inc. “As we look ahead, we are focused on moving even faster against our strategic vision of Consumer Direct Acceleration and fueling sustainable, long-term growth and profitability.”**

Second Quarter Income Statement Review

Revenuesfor NIKE, Inc. increased 9 percent to $11.2 billion compared to the prior year, up 7 percent on a currency-neutral basis.
- Revenues for the NIKE Brand were $10.7 billion, an increase of 8 percent to prior year on a currency-neutral basis driven by strong double-digit growth in NIKE Direct, as well as growth in Sportswear and the Jordan Brand, slightly offset by mid single-digit declines in our wholesale business.
- Revenues for Converse were $476 million, down 4 percent on a currency-neutral basis, as double-digit growth in digital and growth in Asia were more than offset by declines in Europe and North America primarily due to tighter supply and strategic distribution shifts.
Gross margin decreased 90 basis points to 43.1 percent, primarily driven by higher promotional activity to reduce excess inventory resulting from COVID-19 impacts and restructuring-related costs for the previously announced reorganization, both partially offset by favorable full-price product margins.
Selling and administrative expense decreased 2 percent to $3.3 billion.
- Demand creation expense was $729 million, down 17 percent due primarily to lower marketing spend on brand and sports events as a result of COVID-19, slightly offset by continued investments in digital marketing to support higher digital demand.
- Operating overhead expense increased 4 percent to $2.5 billion primarily due to approximately $135 million of restructuring-related costs and continued investments in digital capabilities to support the Consumer Direct Acceleration strategy. These costs were slightly offset by disciplined expense management.
The effective tax rate was 14.1 percent compared to 10.7 percent for the same period last year, primarily due to changes in earnings mix and an increase in tax associated with recently finalized U.S. tax regulations. This increase was offset, in part, by a more favorable impact from stock-based compensation.
Net income was $1.3 billion, up 12 percent driven by strong revenue growth and lower selling and administrative expense, slightly offset by lower gross margin.
Diluted earnings per share was $0.78, increasing 11 percent as weighted average common shares outstanding increased slightly.

November 30, 2020 Balance Sheet Review

Inventories for NIKE, Inc. were $6.1 billion, down 2 percent compared to the prior year period, returning to healthy levels globally.
Cash and equivalents and short-term investments were $11.8 billion, $8.3 billion higher than last year primarily due to proceeds from a corporate bond issuance in March and positive free cash flow, partially offset by cash dividends and share repurchases. Total liquidity as of November 30^th was $15.8 billion which includes cash and equivalents, short-term investments and committed credit facilities which remain undrawn.

Shareholder Returns

NIKE continues a strong track record of investing to fuel growth and consistently increasing returns to shareholders, including 19 consecutive years of increasing dividend payouts. In the second quarter, the Company paid dividends of $385 million to shareholders, up 12 percent from the prior year.

During its FY20 fourth quarter, NIKE, Inc. temporarily suspended share repurchase activity in March to maximize liquidity during the COVID-19 pandemic. Prior to the temporary suspension of the share repurchase program, a total of 45.2 million shares had been repurchased for approximately $4.0 billion, resulting in approximately $11.0 billion in remaining capacity under the 2018 share repurchase program.

Conference Call

NIKE, Inc. management will host a conference call beginning at approximately 2:00 p.m. PT on December 18, 2020, to review fiscal second quarter results. The conference call will be broadcast live via the Internet and can be accessed at http://investors.nike.com. For those unable to listen to the live broadcast, an archived version will be available at the same location through 9:00 p.m. PT, January 8, 2021.

About NIKE, Inc.

NIKE, Inc., based near Beaverton, Oregon, is the world’s leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Converse, a wholly-owned NIKE, Inc. subsidiary brand, designs, markets and distributes athletic lifestyle footwear, apparel and accessories. For more information, NIKE, Inc.’s earnings releases and other financial information are available on the Internet at http://investors.nike.com. Individuals can also visit http://news.nike.com and follow @NIKE.

*	See additional information in the accompanying Divisional Revenues table regarding this non-GAAP financial measure.
**	The marked paragraphs contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are detailed from time to time in reports filed by NIKE with the U.S. Securities and Exchange Commission (SEC), including Forms 8-K, 10-Q and 10-K.

NIKE, Inc.
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)


	THREE MONTHS ENDED						%		SIX MONTHS ENDED						%
(In millions, except per share data)	11/30/2020			11/30/2019			Change		11/30/2020			11/30/2019			Change
Revenues	$	11,243		$	10,326		9	%	$	21,837		$	20,986		4	%
Cost of sales	6,396			5,782			11	%	12,249			11,571			6	%
Gross profit	4,847			4,544			7	%	9,588			9,415			2	%
Gross margin	43.1		%	44.0		%			43.9		%	44.9		%

Demand creation expense	729			881			-17	%	1,406			1,899			-26	%
Operating overhead expense	2,538			2,443			4	%	4,836			4,753			2	%
Total selling and administrative expense	3,267			3,324			-2	%	6,242			6,652			-6	%
% of revenues	29.1		%	32.2		%			28.6		%	31.7		%

Interest expense (income), net	70			12			—		135			27			—
Other (income) expense, net	54			(41)			—		40			(74)			—
Income before income taxes	1,456			1,249			17	%	3,171			2,810			13	%
Income tax expense	205			134			53	%	402			328			23	%
Effective tax rate	14.1		%	10.7		%			12.7		%	11.7		%

NET INCOME	$	1,251		$	1,115		12	%	$	2,769		$	2,482		12	%

Earnings per common share:
Basic	$	0.80		$	0.71		13	%	$	1.77		$	1.59		11	%
Diluted	$	0.78		$	0.70		11	%	$	1.73		$	1.56		11	%

Weighted average common shares outstanding:
Basic	1,573.0			1,560.6					1,567.4			1,561.5
Diluted	1,609.5			1,594.4					1,601.9			1,596.0

Dividends declared per common share	$	0.275		$	0.245				$	0.520		$	0.465

NIKE, Inc.
CONSOLIDATED BALANCE SHEETS
(Unaudited)


	November 30,		November 30,		% Change
(Dollars in millions)	2020		2019
ASSETS
Current assets:
Cash and equivalents	$	8,635	$	3,070	181	%
Short-term investments	3,177		432		635	%
Accounts receivable, net	3,713		4,792		-23	%
Inventories	6,090		6,199		-2	%
Prepaid expenses and other current assets	1,992		1,876		6	%
Total current assets	23,607		16,369		44	%
Property, plant and equipment, net	4,959		4,668		6	%
Operating lease right-of-use assets, net	3,086		2,882		7	%
Identifiable intangible assets, net	270		277		-3	%
Goodwill	223		224		0	%
Deferred income taxes and other assets	2,691		2,182		23	%
TOTAL ASSETS	$	34,836	$	26,602	31	%
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Current portion of long-term debt	$	—	$	6	-100	%
Notes payable	41		300		-86	%
Accounts payable	2,154		2,627		-18	%
Current portion of operating lease liabilities	458		431		6	%
Accrued liabilities	6,030		4,672		29	%
Income taxes payable	188		228		-18	%
Total current liabilities	8,871		8,264		7	%
Long-term debt	9,410		3,462		172	%
Operating lease liabilities	2,896		2,723		6	%
Deferred income taxes and other liabilities	3,019		2,802		8	%
Redeemable preferred stock	—		—		—
Shareholders’ equity	10,640		9,351		14	%
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	34,836	$	26,602	31	%

NIKE, Inc.
DIVISIONAL REVENUES
(Unaudited)


							% Change Excluding Currency Changes¹								% Change Excluding Currency Changes¹
	THREE MONTHS ENDED				%				SIX MONTHS ENDED				%
(Dollars in millions)	11/30/2020		11/30/2019		Change				11/30/2020		11/30/2019		Change
North America
Footwear	$	2,512	$	2,426	4	%	4	%	$	5,469	$	5,095	7	%	7	%
Apparel	1,368		1,417		-3	%	-3	%	2,493		2,848		-12	%	-12	%
Equipment	126		139		-9	%	-10	%	269		332		-19	%	-19	%
Total	4,006		3,982		1	%	1	%	8,231		8,275		-1	%	0	%
Europe, Middle East & Africa
Footwear	1,731		1,536		13	%	8	%	3,533		3,294		7	%	5	%
Apparel	1,104		897		23	%	18	%	2,075		1,766		17	%	15	%
Equipment	123		104		18	%	16	%	260		250		4	%	3	%
Total	2,958		2,537		17	%	12	%	5,868		5,310		11	%	8	%
Greater China
Footwear	1,567		1,247		26	%	20	%	2,818		2,411		17	%	15	%
Apparel	681		563		21	%	16	%	1,159		1,028		13	%	11	%
Equipment	50		37		35	%	29	%	101		87		16	%	14	%
Total	2,298		1,847		24	%	19	%	4,078		3,526		16	%	14	%
Asia Pacific & Latin America
Footwear	991		997		-1	%	5	%	1,749		1,927		-9	%	-3	%
Apparel	432		410		5	%	9	%	733		766		-4	%	0	%
Equipment	48		61		-21	%	-17	%	88		120		-27	%	-22	%
Total	1,471		1,468		0	%	5	%	2,570		2,813		-9	%	-3	%
Global Brand Divisions²	8		10		-20	%	-20	%	12		16		-25	%	-25	%
TOTAL NIKE BRAND	10,741		9,844		9	%	8	%	20,759		19,940		4	%	4	%
Converse	476		480		-1	%	-4	%	1,039		1,035		0	%	-1	%
Corporate³	26		2		—		—		39		11		—		—
TOTAL NIKE, INC. REVENUES	$	11,243	$	10,326	9	%	7	%	$	21,837	$	20,986	4	%	4	%

TOTAL NIKE BRAND
Footwear	$	6,801	$	6,206	10	%	8	%	$	13,569	$	12,727	7	%	7	%
Apparel	3,585		3,287		9	%	7	%	6,460		6,408		1	%	0	%
Equipment	347		341		2	%	1	%	718		789		-9	%	-9	%
Global Brand Divisions²	8		10		-20	%	-20	%	12		16		-25	%	-25	%
TOTAL NIKE BRAND REVENUES	$	10,741	$	9,844	9	%	8	%	$	20,759	$	19,940	4	%	4	%

¹The percent change has been calculated using actual exchange rates in use during the comparative prior year period and is provided to enhance the visibility of the underlying business trends by excluding the impact of translation arising from foreign currency exchange rate fluctuations, which is considered a non-GAAP financial measure. Management uses this non-GAAP financial measure when evaluating the Company’s performance, including when making financial and operating decisions. Additionally, management believes this non-GAAP financial measure provides investors with additional financial information that should be considered when assessing the Company’s underlying business performance and trends. References to this measure should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies.

² Global Brand Divisions revenues include NIKE Brand licensing revenues as well as other miscellaneous revenues that are not part of a geographic operating segment.

³ Corporate revenues consist primarily of foreign currency hedge gains and losses related to revenues generated by entities within the NIKE Brand geographic operating segments and Converse but managed through the Company’s central foreign exchange risk management program.

NIKE, Inc.
EARNINGS BEFORE INTEREST AND TAXES¹
(Unaudited)


	THREE MONTHS ENDED						%		SIX MONTHS ENDED						%
(Dollars in millions)	11/30/2020			11/30/2019			Change		11/30/2020			11/30/2019			Change
North America	$	1,023		$	875		17	%	$	2,325		$	1,975		18	%
Europe, Middle East & Africa	660			510			29	%	1,352			1,119			21	%
Greater China	891			694			28	%	1,579			1,363			16	%
Asia Pacific & Latin America	424			377			12	%	704			718			-2	%
Global Brand Divisions²	(841		)	(872		)	4	%	(1,694		)	(1,729		)	2	%
TOTAL NIKE BRAND¹	2,157			1,584			36	%	4,266			3,446			24	%
Converse	87			90			-3	%	255			228			12	%
Corporate³	(718		)	(413		)	-74	%	(1,215		)	(837		)	-45	%
TOTAL NIKE, INC. EARNINGS BEFORE INTEREST AND TAXES¹	1,526			1,261			21	%	3,306			2,837			17	%
Interest expense (income), net	70			12			—		135			27			—
TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES	$	1,456		$	1,249		17	%	$	3,171		$	2,810		13	%

¹The Company evaluates the performance of individual operating segments based on earnings before interest and taxes (commonly referred to as “EBIT”), which represents net income before interest expense (income), net and income tax expense. Total NIKE Brand EBIT and Total NIKE, Inc. EBIT are considered non-GAAP financial measures and are being provided as management believes this additional information should be considered when assessing the Company’s underlying business performance and trends. References to EBIT should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies.

²Global Brand Divisions consists primarily of demand creation, operating overhead and product creation and design expenses that are centrally managed for the NIKE Brand. Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment.

³ Corporate consists primarily of unallocated general and administrative expenses, including expenses associated with centrally managed departments; depreciation and amortization related to the Company’s corporate headquarters; unallocated insurance, benefit and compensation programs, including stock-based compensation; and certain foreign currency gains and losses, including certain hedge gains and losses. For the three and six months ended November 30, 2020, Corporate included non-recurring employee termination and related costs associated with the previously announced leadership and operating model changes.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201218005683/en/

Investor Contact:

Andy Muir

(971) 473-3143

Media Contact:

KeJuan Wilkins

(971) 473-2556

KEYWORDS: Oregon United States North America

INDUSTRY KEYWORDS: Textiles Other Sports Sports Other Retail Specialty Manufacturing Fashion Consumer Retail

MEDIA:

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December 18, 2020 4:18 pm

Blackstone Real Estate Income Trust Completes Acquisition of Simply Self Storage for Approximately $1.2 Billion

Blackstone Real Estate Income Trust Completes Acquisition of Simply Self Storage for Approximately $1.2 Billion

NEW YORK–(BUSINESS WIRE)–
Blackstone Real Estate Income Trust, Inc. (“BREIT”) today announced that it has completed its previously announced acquisition of Simply Self Storage from a Brookfield Asset Management real estate fund for approximately $1.2 billion. Simply Self Storage’s high-quality portfolio comprises eight million square feet across the U.S. With this acquisition, BREIT becomes the third largest non-listed owner of storage in the U.S.¹

Simpson Thacher & Bartlett LLP served as legal advisor to BREIT, and BofA Securities and Deutsche Bank Securities Inc. served as financial advisors to BREIT. RBC Capital Markets LLC, Newmark Group Inc., and Fried, Frank, Harris, Shriver & Jacobson LLP advised Brookfield.

The transaction was announced on October 26, 2020.

Blackstone Real Estate Income Trust 

Blackstone Real Estate Income Trust, Inc. (BREIT) is a perpetual-life, institutional quality real estate investment platform that brings private real estate to income focused investors. BREIT invests in stabilized, income-generating U.S. commercial real estate across key property types and to a lesser extent in real estate debt investments. BREIT is externally managed by a subsidiary of Blackstone (NYSE: BX), a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has approximately $174 billion in investor capital under management. Further information is available at www.breit.com.

¹ Includes private owners and non-listed REITs.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201218005689/en/

Ilana Mouritzen

[email protected]

Tel: (212) 583-5776

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Construction & Property REIT

MEDIA:

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