Poshmark, Inc. Files Registration Statement for Proposed Initial Public Offering

PR Newswire

REDWOOD CITY, Calif., Dec. 17, 2020 /PRNewswire/ — Poshmark, Inc. (Poshmark) today announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering of shares of its Class A common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. Poshmark has applied to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol “POSH.”

Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, and Barclays Capital Inc. are acting as lead book-running managers for the offering. Stifel, Nicolaus & Company, Incorporated, William Blair & Company, L.L.C, Raymond James & Associates, Inc., Cowen and Company, LLC, and JMP Securities LLC are acting as book-running managers.

The proposed offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the offering may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 or by telephone at (866) 718-1649; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526; and Barclays Capital Inc., c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (888) 603-5847.

A registration statement relating to these securities has been filed with the SEC 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 Poshmark, Inc.:
Poshmark is a leading social marketplace for new and secondhand style for women, men, kids, home, and more. By combining the human connection of physical shopping with the scale, ease, and selection benefits of ecommerce, Poshmark makes buying and selling simple, social, and fun. Its community of more than 70 million registered users across the U.S. and Canada is driving the future of commerce while promoting more sustainable consumption.

CONTACTS:

Media Contact

[email protected]

Investor Contact

[email protected]

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SOURCE Poshmark

Exela Technologies Secures Term Loan of $145 Million

  • Retires debt under existing facility and replaces with a new facility
  • Substantially achieves liquidity strategic initiative

IRVING, Texas, Dec. 17, 2020 (GLOBE NEWSWIRE) — Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA), a location-agnostic global business process automation leader, announced that it has entered into a 5-year, $145 million term loan facility with Angelo Gordon, a global alternative investment firm. The facility provides for an initial funding of approximately $92 million and subject to certain conditions a further funding of approximately $53 million. A portion of the proceeds from the initial funding will be used to retire all debt outstanding under Exela’s accounts receivables securitization facility of approximately $83 million. Liquidity, as determined in accordance with the First Lien Credit Agreement, dated as of July 12, 2017, as amended, to which Exela’s subsidiaries are party, will be greater than $140 million assuming full funding under the new facility. On that basis, the Company’s previously announced strategic initiative to improve liquidity to approximately $150 million will be substantially achieved. The company’s filed 8-K includes additional transaction details.

About Exela Technologies

Exela Technologies is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and end-user experience. With decades of expertise operating mission-critical processes, Exela serves a growing roster of more than 4,000 customers throughout 50 countries, including over 60% of the Fortune® 100. With foundational technologies spanning information management, workflow automation, and integrated communications, Exela’s software and services include multi-industry department solution suites addressing finance and accounting, human capital management, and legal management, as well as industry-specific solutions for banking, healthcare, insurance, and public sectors. Through cloud-enabled platforms, built on a configurable stack of automation modules, and over 21,000 employees operating in 23 countries, Exela rapidly deploys integrated technology and operations as an end-to-end digital journey partner.

About Angelo Gordon

Angelo, Gordon & Co., L.P. (“Angelo Gordon”) is a privately held limited partnership founded in November 1988. The firm currently manages approximately $41 billion with a primary focus on credit and real estate strategies. Angelo Gordon has over 500 employees, including more than 200 investment professionals, and is headquartered in New York, with associated offices elsewhere in the U.S., Europe, and Asia. For more information, visit www.angelogordon.com.

Forward-Looking Statements: Certain statements included in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “may”, “should”, “would”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “seem”, “seek”, “continue”, “future”, “will”, “expect”, “outlook” or other similar words, phrases or expressions. These forward-looking statements include statements regarding our industry, future events, estimated or anticipated future results and benefits, future opportunities for Exela, and other statements that are not historical facts. These statements are based on the current expectations of Exela management and are not predictions of actual performance. These statements are subject to a number of risks and uncertainties, including without limitation those discussed under the heading “Risk Factors” in the Annual Report and other securities filings. In addition, forward-looking statements provide Exela’s expectations, plans or forecasts of future events and views as of the date of this communication. Exela anticipates that subsequent events and developments will cause Exela’s assessments to change. These forward-looking statements should not be relied upon as representing Exela’s assessments as of any date subsequent to the date of this press release.

Media Contact: Kevin McLaughlin
E: [email protected]
T: 646-277-1234

Investor Contact: William Maina
E: [email protected] 
T: 646-277-1236



PIMCO Canada Corp. Announces Estimated Monthly Distributions for PIMCO Canada Exchange Traded Series

Not for distribution to United States newswire services or for dissemination in the United States

TORONTO, Dec. 17, 2020 (GLOBE NEWSWIRE) — PIMCO Canada Corp. (“PIMCO Canada”) today announced the estimated 2020 December and annual cash distributions for the ETF series (“ETF Series”) of the PIMCO Canada mutual funds that distribute monthly (“Funds”). The estimated distribution amounts may differ from the actual amounts.

Unitholders of record of the ETF Series, at the close of business on December 24, 2020, will receive a per-unit cash distribution payable on or about December 31, 2020.

Details of the per-unit cash distribution amounts are as follow:

Fund Name Ticker Cash Distribution per Unit
PIMCO Monthly Income Fund (Canada) PMIF $ 0.22036
PIMCO Monthly Income Fund (Canada) US$ PMIF.U US$ 0.25284
PIMCO Investment Grade Credit Fund (Canada) IGCF $ 0.05683
PIMCO Global Short Maturity Fund (Canada) PMNT $ 0.01233
PIMCO Low Duration Monthly Income Fund (Canada) PLDI $ 0.57078

Final distribution amounts will be announced by PIMCO Canada on or about December 22, 2020

The Manager, PIMCO Canada, administers and manages the PIMCO Canada ETFs, and retains Pacific Investment Management Company, LLC (“PIMCO”) to provide sub-advisory services to the Funds.

About PIMCO

PIMCO is one of the world’s premier fixed income investment managers. With our launch in 1971 in Newport Beach, California, PIMCO introduced investors to a total return approach to fixed income investing. In the 45+ years since, we have continued to bring innovation and expertise to our partnership with clients seeking the best investment solutions. Today we have offices across the globe and 2,850+ professionals united by a single purpose: creating opportunities for investors in every environment. PIMCO is owned by Allianz S.E., a leading global diversified financial services provider.

Forward-Looking Statements

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will” and similar expressions to the extent they relate to the Funds. The forward-looking statements are not historical facts but reflect the Funds’, PIMCO Canada’s and/or PIMCO’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including, but not limited to, market factors. Although the Funds, PIMCO Canada and/or PIMCO believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Funds, PIMCO Canada and/or PIMCO undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other factors which affect this information, except as required by law.

No offering is being made by this material. Interested investors should obtain a copy of the prospectus, which is available from your Financial Advisor.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

All investments contain risk and can lose value. For a summary of the risks of an investment in a specific fund, please see the risks of mutual funds section of the prospectus.

Investments made by a Fund and the results achieved by a Fund are not expected to be the same as those made by any other PIMCO-advised Fund, including those with a similar name, investment objective or policies. A new or smaller Fund’s performance may not represent how the Fund is expected to or may perform in the long-term. New Funds have limited operating histories for investors to evaluate and new and smaller Funds may not attract sufficient assets to achieve investment and trading efficiencies. A Fund may be forced to sell a comparatively large portion of its portfolio to meet significant shareholder redemptions for cash, or hold a comparatively large portion of its portfolio in cash due to significant share purchases for cash, in each case when the Fund otherwise would not seek to do so, which may adversely affect performance.

Funds can offer different series, which are subject to different fees and expenses (which may affect performance), having different minimum investment requirements and are entitled to different services.

The products and services provided by PIMCO Canada may only be available in certain provinces or territories of Canada and only through dealers authorized for that purpose.

PIMCO Canada has retained PIMCO LLC as sub-adviser. PIMCO Canada will remain responsible for any loss that arises out of the failure of its sub-adviser.

PIMCO as a general matter provides services to qualified institutions, financial intermediaries and institutional investors. Individual investors should contact their own financial professional to determine the most appropriate investment options for their financial situation. This material contains the current opinions of the manager and such opinions are subject to change without notice. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. PIMCO is a trademark of Allianz Asset Management of America L.P. in the United States and throughout the world. ©2020, PIMCO

PIMCO Canada Corp. 199 Bay Street, Suite 2050, Commerce Court Station, P.O. Box 363, Toronto, ON, M5L 1G2, 416-368-3350

Contact:
Agnes Crane
PIMCO – Media Relations
Phone: +212 597.1054 



Granite REIT Declares Distribution for December 2020

Granite REIT Declares Distribution for December 2020

TORONTO–(BUSINESS WIRE)–
Granite Real Estate Investment Trust (“Granite”) (TSX: GRT.UN / NYSE: GRP.U) announced today that its board of trustees has declared a distribution of CAD $0.250 per stapled unit for the month of December 2020. The distribution will be paid by Granite on January 15, 2021 to stapled unitholders of record at the close of trading on December 31, 2020. The stapled units will begin trading on an ex-dividend basis at the opening of trading on Wednesday, December 30, 2020 on the Toronto Stock Exchange and on the New York Stock Exchange.

Granite confirms that no portion of the distribution constitutes effectively connected income for U.S. federal tax purposes. A qualified notice providing the breakdown of the sources of the distribution will be issued to the Depository Trust & Clearing Corporation subsequent to the record date of December 31, 2020, pursuant to United States Treasury Regulation Section 1.1446-4.

ABOUT GRANITE

Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Granite owns over 110 investment properties representing approximately 47 million square feet of leasable area.

OTHER INFORMATION

Copies of financial data and other publicly filed documents about Granite are available through the internet on the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) which can be accessed at www.sedar.com and on the United States Securities and Exchange Commission’s Electronic Data Gathering, Analysis and Retrieval System (EDGAR) which can be accessed at www.sec.gov. For further information, please see our website at www.granitereit.com or contact Teresa Neto, Chief Financial Officer, at 647-925-7560 or Andrea Sanelli, Manager, Legal & Investor Services, at 647-925-7504.

Teresa Neto

Chief Financial Officer

647-925-7560

or

Andrea Sanelli

Manager, Legal & Investor Services

647-925-7504

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: REIT Finance Banking Professional Services Construction & Property

MEDIA:

WildBrain Shareholders Approve All Matters at Annual and Special Meeting

PR Newswire

HALIFAX, NS, Dec. 17, 2020 /PRNewswire/ – WildBrain Ltd. (or the “Company“) (TSX: WILD), a global leader in kids and family entertainment, reports that all nominees listed in its Management Information Circular dated November 10, 2020, were elected as directors of the Company at its Annual and Special Meeting of Shareholders, held virtually today. In addition, PricewaterhouseCoopers LLP was re-appointed as the Company’s Auditor, and the resolution related to the exchangeable debentures was approved by Shareholders, which set the exchange price and removed the cap on the number of Variable Voting Shares that may be issued in connection with the financing.

The detailed results of the votes received for each director nominee were as follows:


Directors


% of Shares Voted For  


% of Shares Voted Withheld

David Colville

96.87%

3.13%

Amanda Cupples

96.66%

3.34%

Deborah Drisdell

99.40%

0.60%

Eric Ellenbogen

99.49%

0.51%

Erin Elofson

99.40%

0.60%

Alan Hibben

84.69%

15.31%

Steven Landry

87.29%

12.71%

Geoffrey Machum

99.52%

0.48%

Thomas McGrath

99.42%

0.58%

Jonathan Whitcher

99.48%

0.52%

Donald Wright

84.70%

15.30%

For more information, please contact:

Investor Relations: Nancy Chan-Palmateer – Director, Investor Relations, WildBrain 
[email protected] 
+1 416-977-7358

Media: Shaun Smith – Director, Corporate & Trade Communications, WildBrain 
[email protected] 
+1 416-977-7230

About WildBrain Ltd.

At WildBrain we inspire imaginations to run wild, engaging kids and families everywhere with great content across all media. With approximately 13,000 half-hours of filmed entertainment in our library – one of the world’s most extensive – we are home to such brands as Peanuts, Teletubbies, Strawberry Shortcake, Caillou, Inspector Gadget, Johnny Test and Degrassi. At our 75,000 square-foot state-of-the art animation studio in Vancouver, BC, we produce such fan-favourite series as Snoopy in Space, Chip & Potato, Carmen Sandiego and more. Our shows are enjoyed worldwide in more than 150 countries on over 500 streaming platforms and telecasters, and our AVOD business – WildBrain Spark – offers one of the largest networks of kids’ channels on YouTube, garnering approximately four billion views per month from over 200 million subscribers. We also license consumer products and location-based entertainment in every major territory for our own properties as well as for our clients and content partners. Our television group owns and operates four family entertainment channels that are among the most viewed in Canada. WildBrain is headquartered in Canada with offices worldwide and trades on the Toronto Stock Exchange (TSX: WILD). Visit us at wildbrain.com.

Disclaimer

This press release contains “forward-looking statements” under applicable securities laws with respect to the Company including, without limitation, statements regarding the business strategies and operational activities of the Company. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties and are based on information currently available to the Company. Actual results or events may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations, among other things, include the risk factors discussed in materials filed with applicable securities regulatory authorities from time to time including matters discussed under “Risk Factors” in the Company’s most recent Annual Information Form and annual Management Discussion and Analysis. These forward-looking statements are made as of the date hereof, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

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SOURCE WildBrain Ltd.

New England Journal of Medicine Publishes Positive Initial Regeneron Antibody Cocktail Results in Non-hospitalized Patients with COVID-19

PR Newswire

TARRYTOWN, N.Y., Dec. 17, 2020 /PRNewswire/ — Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) today announced that the New England Journal of Medicine (NEJM) has published initial clinical data from an ongoing seamless Phase 1/2/3 trial of the antibody cocktail casirivimab and imdevimab in non-hospitalized patients with COVID-19.

“The peer-reviewed NEJM publication of our first set of clinical data in recently infected COVID-19 patients showed that casirivimab and imdevimab effectively reduced viral load and the need for medically-attended visits, with the greatest benefit in patients who had not yet mounted their own effective immune response or had high viral load at baseline,” said David Weinreich, M.D., Senior Vice President and Head of Global Clinical Development at Regeneron and lead author of the publication. “The investigational cocktail is now available to indicated high-risk U.S. patients under an Emergency Use Authorization, and we also continue a robust clinical development program.”

“Building on these initial findings, we were gratified to recently report follow-on data from the next-stage analysis of this ongoing trial, which prospectively replicated these results in a rigorous and statistically significant manner. These follow-on data provided the first definitive prospective evidence demonstrating anti-viral activity for a treatment regimen now available for COVID-19, and also further documented the ability of this treatment to decrease the need for further medical attention,” said George D. Yancopoulos, M.D., Ph.D., President and Chief Scientific Officer at Regeneron. “We are continuing to evaluate our antibody cocktail in this outpatient setting, as well as in late-stage trials in hospitalized patients and for prevention of infection, and will continue to share our findings as quickly as possible.”

Regeneron previously announced the initial results featured in this NEJM publication from the Phase 1/2 portion of the trial that enrolled 275 patients randomized 1:1:1 to receive 8 grams casirivimab and imdevimab (high-dose, n=90), 2.4 grams casirivimab and imdevimab (low-dose, n=92) or placebo (n=93). Approximately 56% of patients were Latino/Hispanic, 13% were Black/African American and 64% had one or more underlying risk factors for severe COVID-19, including obesity (more than 40%).

Regeneron also subsequently announced additional prospective results in a total of 799 patients from the trial. In both the initial descriptive analyses of 275 patients, as well as in the following prospective analyses involving a total of 799 patients, a greater effect was observed in patients treated with the antibody cocktail who did not have SARS-CoV-2 antibodies at baseline (‘sero-antibody-negative’) or who had high viral load at baseline. As would be expected, a much higher proportion of sero-antibody-negative patients had high viral loads when they entered the trial. Additionally, a smaller proportion of antibody cocktail-treated patients required medically-attended visits due to COVID-19 (inclusive of hospitalizations, urgent care or emergency room visits, in-person physician or telemedicine visits) through day 29 compared to placebo; there was an even greater benefit on this endpoint among sero-antibody-negative patients.

In the initial 275 patients, rates of adverse events (AEs) were similar among groups. Serious AEs occurred in 2 placebo patients, 1 low-dose patient and 0 high-dose patients. AEs included infusion-related reactions (1 placebo patient, 0 low-dose patients, 2 high-dose patients) and hypersensitivity reactions (2 placebo patients, 0 low-dose patients, 1 high-dose patient).

About casirivimab and imdevimab
Casirivimab and imdevimab (formerly known as REGN-COV2 or REGEN-COV2) is a cocktail of two monoclonal antibodies (also known as REGN10933 and REGN10987, respectively) and was designed specifically to block infectivity of SARS-CoV-2, the virus that causes COVID-19.

To develop this novel medicine, Regeneron scientists evaluated thousands of fully-human antibodies produced by the company’s VelocImmune® mice, which have been genetically modified to have a human immune system, as well as antibodies identified from humans who have recovered from COVID-19. The two potent, virus-neutralizing antibodies that form the cocktail bind non-competitively to the critical receptor binding domain of the virus’s spike protein, which diminishes the ability of mutant viruses to escape treatment and protects against spike variants that have arisen in the human population, as detailed in Science.

The development and manufacturing of the antibody cocktail has been funded in part with federal funds from BARDA under OT number: HHSO100201700020C. Data from the Phase 1/2/3 clinical trial supported an Emergency Use Authorization for casirivimab and imdevimab administered together, granted by the U.S. Food and Drug Administration (FDA) for the treatment of mild to moderate COVID-19 in patients 12 years of age and older and weighing at least 40 kg, who have received positive results of direct SARS-CoV-2 viral testing and are at high risk for progressing to severe COVID-19 and/or hospitalization. Regeneron continues to increase in-house production of casirivimab and imdevimab, and the company has partnered with Roche to increase the global supply beginning in 2021. If the therapy proves safe and effective in clinical trials and regulatory approvals are granted, Regeneron will manufacture and distribute it in the U.S., and Roche will develop, manufacture and distribute it outside of the U.S. Once both companies are at full manufacturing capacity in 2021, there are expected to be at least 2 million treatment doses available annually.

AUTHORIZED USE AND IMPORTANT SAFETY INFORMATION


Authorized Emergency Use

Casirivimab and imdevimab injection is an investigational combination therapy and has been authorized by FDA for the emergency use described above. Casirivimab and imdevimab injection is not FDA approved for any use. Safety and effectiveness of casirivimab and imdevimab injection have not yet been established for the treatment of COVID-19.

This authorized use is only for the duration of the declaration that circumstances exist justifying the authorization of the emergency use under section 564 (b)(1) of the Act, 21 U.S.C. § 360bbb-3(b) (1), unless the authorization is terminated or revoked sooner.


Limitations of Authorized Use

  • Casirivimab and imdevimab injection is not authorized for use in patients:
    • who are hospitalized due to COVID-19, OR
    • who require oxygen therapy due to COVID-19, OR
    • who require an increase in baseline oxygen flow rate due to COVID-19 in those on chronic oxygen therapy due to underlying non-COVID-19 related comorbidity.
  • Benefit of treatment with casirivimab and imdevimab injection has not been observed in patients hospitalized due to COVID-19. Monoclonal antibodies, such as casirivimab and imdevimab, may be associated with worse clinical outcomes when administered to hospitalized patients requiring high flow oxygen or mechanical ventilation with COVID-19.


Definition of High-Risk Patients

High-risk is defined as patients who meet at least one of the following criteria:

  • Have a body mass index (BMI) ≥35
  • Have chronic kidney disease
  • Have diabetes
  • Have immunosuppressive disease
  • Are currently receiving immunosuppressive treatment
  • Are ≥65 years of age
  • Are ≥55 years of age AND have
    • cardiovascular disease, OR
    • hypertension, OR
    • chronic obstructive pulmonary disease/other chronic respiratory disease.
  • Are 12 – 17 years of age AND have
    • BMI ≥85th percentile for their age and gender based on CDC growth charts, OR
    • sickle cell disease, OR
    • congenital or acquired heart disease, OR
    • neurodevelopmental disorders, for example, cerebral palsy, OR
    • a medical-related technological dependence, for example, tracheostomy, gastrostomy, or positive pressure ventilation (not related to COVID-19), OR
    • asthma, reactive airway or other chronic respiratory disease that requires daily medication for control.


Warnings and Precautions

:

  • Hypersensitivity Including Anaphylaxis and Infusion-Related Reactions: There is a potential for serious hypersensitivity reaction, including anaphylaxis, with administration of casirivimab and imdevimab injection. If signs or symptoms of a clinically significant hypersensitivity reaction or anaphylaxis occur, immediately discontinue administration and initiate appropriate medications and/or supportive therapy. Infusion-related reactions have been observed with administration of casirivimab and imdevimab injection. Signs and symptoms of infusion related reactions may include fever, chills, nausea, headache, bronchospasm, hypotension, angioedema, throat irritation, rash including urticaria, pruritus, myalgia, and/or dizziness. If an infusion-related reaction occurs, consider slowing or stopping the infusion and administer appropriate medications and/or supportive care.
  • Limitations of Benefit and Potential for Risk in Patients with Severe COVID-19: Benefit of treatment with casirivimab and imdevimab injection has not been observed in patients hospitalized due to COVID-19. Monoclonal antibodies, such as casirivimab and imdevimab, may be associated with worse clinical outcomes when administered to hospitalized patients requiring high flow oxygen or mechanical ventilation with COVID-19. Therefore, casirivimab and imdevimab injection is not authorized for use in who are hospitalized due to COVID-19, OR who require oxygen therapy due to COVID-19, OR who require an increase in baseline oxygen flow rate due to COVID-19 in those on chronic oxygen therapy due to underlying non-COVID-19 related comorbidity.


Adverse Reactions

:

  • Serious adverse events (SAEs) were reported in 4 (1.6%) patients in the casirivimab and imdevimab injection 2,400 mg group, 2 (0.8%) patients in casirivimab and imdevimab injection 8,000 mg group and 6 (2.3%) patients in the placebo group. None of the SAEs were considered to be related to study drug. SAEs that were reported as Grade 3 or 4 adverse events were pneumonia, hyperglycemia, nausea and vomiting (2,400 mg casirivimab and imdevimab injection), intestinal obstruction and dyspnea (8,000 mg casirivimab and imdevimab injection) and COVID-19, pneumonia and hypoxia (placebo). Casirivimab and imdevimab injection are not authorized at the 8,000 mg dose (4,000 mg casirivimab and 4,000 mg imdevimab).
    Casirivimab and imdevimab are not authorized at the 8,000 mg dose (4,000 mg casirivimab and 4,000 mg imdevimab).
  • One anaphylactic reaction was reported in the clinical program. The event began within 1 hour of completion of the infusion, and required treatment including epinephrine. The event resolved.  Infusion-related reactions, of grade 2 or higher severity, were reported in 4 subjects (1.5%) in the 8,000 mg (4,000 mg casirivimab and 4,000 mg imdevimab) arm. These infusion-related reactions events were moderate in severity; and include pyrexia, chills, urticaria, pruritus, abdominal pain, and flushing.  One infusion-related reaction (nausea) was reported in the placebo arm and none were reported in the 2,400 mg (1,200 mg casirivimab and 1,200 mg imdevimab) arm. In two subjects receiving the 8,000 mg dose of casirivimab and imdevimab, the infusion-related reactions (urticaria, pruritus, flushing, pyrexia, shortness of breath, chest tightness, nausea, vomiting) resulted in permanent discontinuation of the infusion. All events resolved.


Patient Monitoring Recommendations
: Clinically monitor patients during infusion and observe patients for at least 1 hour after infusion is complete.


Use in Specific Populations

:

  • Pregnancy: There is currently limited clinical experience in the use of casirivimab and imdevimab injection in COVID-19 patients who are pregnant. Casirivimab and imdevimab injection therapy should be used during pregnancy only if the potential benefit justifies the potential risk for the mother and the fetus.
  • Nursing Mothers: There is currently no clinical experience in use of casirivimab and imdevimab injection in COVID-19 patients who are breastfeeding. The development and health benefits of breastfeeding should be considered along with the mother’s clinical need for casirivimab and imdevimab injection and any potential adverse effects on the breastfed child from casirivimab and imdevimab injection or from the underlying maternal condition.

About Regeneron

Regeneron (NASDAQ: REGN) is a leading biotechnology company that invents life-transforming medicines for people with serious diseases. Founded and led for over 30 years by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to eight FDA-approved treatments and numerous product candidates in development, all of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, pain, infectious diseases and rare diseases.

Regeneron is accelerating and improving the traditional drug development process through our proprietary VelociSuite® technologies, such as VelocImmune®, which uses unique genetically-humanized mice to produce optimized fully-human antibodies and bispecific antibodies, and through ambitious research initiatives such as the Regeneron Genetics Center, which is conducting one of the largest genetics sequencing efforts in the world. For additional information about the company, please visit www.regeneron.com or follow @Regeneron on Twitter.

Regeneron Forward-Looking Statements and Use of Digital Media 
This press release includes forward-looking statements that involve risks and uncertainties relating to future events and the future performance of Regeneron Pharmaceuticals, Inc. (“Regeneron” or the “Company”), and actual events or results may differ materially from these forward-looking statements. Words such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “seek,” “estimate,” variations of such words, and similar expressions are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. These statements concern, and these risks and uncertainties include, among others, the impact of SARS-CoV-2 (the virus that has caused the COVID-19 pandemic) on Regeneron’s business and its employees, collaborators, and suppliers and other third parties on which Regeneron relies, Regeneron’s and its collaborators’ ability to continue to conduct research and clinical programs (including those discussed in this press release), Regeneron’s ability to manage its supply chain, net product sales of products marketed or otherwise commercialized by Regeneron and/or its collaborators (collectively, “Regeneron’s Products”), and the global economy; the nature, timing, and possible success and therapeutic applications of Regeneron’s Products and product candidates and research and clinical programs now underway or planned, including without limitation the development program relating to casirivimab and imdevimab (Regeneron’s investigational multi-antibody therapy for the treatment and prevention of COVID-19); how long the Emergency Use Authorization (“EUA”) granted by the U.S. Food and Drug Administration (the “FDA”) for casirivimab and imdevimab will remain in effect and whether the EUA is revoked by the FDA based on its determination that the underlying health emergency no longer exists or warrants such authorization or other reasons; the likelihood, timing, and scope of possible regulatory approval and commercial launch of Regeneron’s product candidates (such as casirivimab and imdevimab) and new indications for Regeneron’s Products; safety issues resulting from the administration of Regeneron’s Products and product candidates (such as casirivimab and imdevimab) in patients, including serious complications or side effects in connection with the use of Regeneron’s Products and product candidates in clinical trials (including those discussed in this press release); the ability of Regeneron to manufacture in anticipated quantities Regeneron’s Products and product candidates, including casirivimab and imdevimab; the ability of Regeneron to manage supply chains for multiple products and product candidates; the ability of Regeneron’s collaborators, suppliers, or other third parties (as applicable) to perform manufacturing, filling, finishing, packaging, labeling, distribution, and other steps related to Regeneron’s Products and product candidates; uncertainty of market acceptance and commercial success of Regeneron’s Products and product candidates and the impact of studies (whether conducted by Regeneron or others and whether mandated or voluntary), including the trials discussed in this press release, on any potential regulatory approval (including with respect to casirivimab and imdevimab) and/or the commercial success of Regeneron’s Products and product candidates; determinations by regulatory and administrative governmental authorities which may delay or restrict Regeneron’s ability to continue to develop or commercialize Regeneron’s Products and product candidates, including without limitation casirivimab and imdevimab; ongoing regulatory obligations and oversight impacting Regeneron’s Products, research and clinical programs, and business, including those relating to patient privacy; the availability and extent of reimbursement of Regeneron’s Products from third-party payers, including private payer healthcare and insurance programs, health maintenance organizations, pharmacy benefit management companies, and government programs such as Medicare and Medicaid; coverage and reimbursement determinations by such payers and new policies and procedures adopted by such payers; competing drugs and product candidates that may be superior to, or more cost effective than, Regeneron’s Products and product candidates; the extent to which the results from the research and development programs conducted by Regeneron and/or its collaborators may be replicated in other studies and/or lead to advancement of product candidates to clinical trials, therapeutic applications, or regulatory approval; unanticipated expenses; the costs of developing, producing, and selling products; the ability of Regeneron to meet any of its financial projections or guidance and changes to the assumptions underlying those projections or guidance; the potential for any license, collaboration, or supply agreement, including Regeneron’s agreements with Sanofi, Bayer, and Teva Pharmaceutical Industries Ltd. (or their respective affiliated companies, as applicable), as well as Regeneron’s collaboration with Roche relating to casirivimab and imdevimab, to be cancelled or terminated; and risks associated with intellectual property of other parties and pending or future litigation relating thereto (including without limitation the patent litigation and other related proceedings relating to EYLEA® (aflibercept) Injection, Dupixent® (dupilumab), and Praluent® (alirocumab)), other litigation and other proceedings and government investigations relating to the Company and/or its operations, the ultimate outcome of any such proceedings and investigations, and the impact any of the foregoing may have on Regeneron’s business, prospects, operating results, and financial condition. A more complete description of these and other material risks can be found in Regeneron’s filings with the U.S. Securities and Exchange Commission, including its Form 10-K for the year ended December 31, 2019 and its Form 10-Q for the quarterly period ended September 30, 2020. Any forward-looking statements are made based on management’s current beliefs and judgment, and the reader is cautioned not to rely on any forward-looking statements made by Regeneron. Regeneron does not undertake any obligation to update (publicly or otherwise) any forward-looking statement, including without limitation any financial projection or guidance, whether as a result of new information, future events, or otherwise.

Regeneron uses its media and investor relations website and social media outlets to publish important information about the Company, including information that may be deemed material to investors. Financial and other information about Regeneron is routinely posted and is accessible on Regeneron’s media and investor relations website
(

http://newsroom.regeneron.com

)
and its Twitter feed
(

http://twitter.com/regeneron

).


Regeneron Contacts:

 


Media Relations


Hannah Kwagh


[email protected] 

 

 


Investor Relations


Mark Hudson

Tel: +1 (914) 847-3482


[email protected]

Cision View original content:http://www.prnewswire.com/news-releases/new-england-journal-of-medicine-publishes-positive-initial-regeneron-antibody-cocktail-results-in-non-hospitalized-patients-with-covid-19-301195460.html

SOURCE Regeneron Pharmaceuticals, Inc.

Polaris Infrastructure Announces Amended and Extended PENSA Power Purchase Agreement

PR Newswire

TORONTO, Dec. 17, 2020 /PRNewswire/ – Polaris Infrastructure Inc. (TSX: PIF) (“Polaris Infrastructure” or the “Company”), a Toronto-based company engaged in the operation, acquisition and development of renewable energy projects in Latin America, is pleased to announce that its board of directors has approved revised terms to its Power Purchase Agreement (“PPA”) at its San Jacinto geothermal facility in Nicaragua by its wholly-owned subsidiary Polaris Energy Nicaragua, S.A. (“PENSA”).  

After extensive discussions with the Ministry of Energy and Mines in Nicaragua, the Company is proud to announce the following as it relates to the continuing commitment to provide renewable, clean, baseload power to the country of Nicaragua at long-term competitive rates:

  • The term of the PPA has been extended for an additional 10 years to January 2039.
  • A non-indexed $110.00 USD per Mwhr price versus the current $130.712 USD per Mwhr price in 2020.
  • Contractual confirmation for Polaris Infrastructure to include a Binary Unit of up to 10MW’s.
  • An extension of two years to the income tax holiday such that income taxes will now be payable in 2025 versus 2023.
  • The previous price penalty clause requiring a minimum power production delivered has been eliminated.
  • The amended terms are to take effect immediately.

The amended PPA has been signed by both parties and has received consent from all project lenders and the board of directors.  The concession agreement and generation license will be amended to incorporate such changes, which we expect to be completed in January.

The desire to construct the binary unit at the San Jacinto facility, combined with the 2029 expiration of our existing PPA, provided the context to renegotiate the terms of the existing contract.  The Company believes the aforementioned parameters of this revised PPA will allow for significant realization of free cash flow over an extended period of time.  The Company is confident that the combination of the extended term, increased tax holiday, long-life of the asset and the addition of the binary unit will provide the opportunity to refinance the existing project loan on terms that are favourable to shareholders. 

The Company reiterates its continued commitment to its current dividend policy for the foreseeable future.

“The revised terms of the PPA enable Polaris to provide a competitive source of baseload, renewable energy to the Nicaraguan market.  The combination of the long-life nature of our asset and the ability to grow the production provides a win-win for both parties,” commented Marc Murnaghan, CEO of Polaris Infrastructure.  “In my opinion, such new terms and the fact that our Company now has an average remaining life of over 18 years on all its PPAs should be viewed positively by market participants.”

The Company will be holding an investor call on Friday, December 18th, 2020 at 09:00 am (eastern standard time), which will be made available through the following call-in details in order to discuss the amended and extended PPA and answer any questions associated with this announcement:

Topic: Polaris Infrastructure Announces Amended and Extended PENSA Power Purchase Agreement
Company name: Polaris Infrastructure Inc.
Participant Toll Free Dial-In Number: 1 (888) 231-8191

Participant International Dial-In Number: (647) 427-7450

A digital recording of the earnings call will be available for replay two hours after the call’s completion.

Replay Call Information
T

oronto and international: 1 (416) 849-0833, Passcode: 2856157
North America (toll-free): 1 (855) 859-2056, Passcode: 2856157
Encore Replay Expiration Date: 12/25/2020

Cautionary Statements

This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws, which may include, but is not limited to, the construction of the Company’s binary unit in San Jacinto, the opportunity to refinance the San Jacinto project loan on terms that are attractive to shareholders, the ability to off-set any short-term reduction in revenue from the lower price per Mwhr under the amended PPA and the maintenance of the Company’s existing dividend policy. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “estimates”, “goals”, “intends”, “targets”, “aims”, “likely”, “typically”, “potential”, “probable”, “projects”, “continue”, “strategy”, “proposed”, or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved.

A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. Such factors include, among others: failure to discover and establish economically recoverable and sustainable resources through our exploration and development programs; imprecise estimation of probability simulations prepared to predict prospective resources or energy generation capacities; inability to complete hydro projects in the required time to meet COD; variations in project parameters and production rates; defects and adverse claims in the title to our properties; failure to obtain or maintain necessary licenses, permits and approvals from government authorities; the impact of changes in foreign currency exchange and interest rates; changes in government regulations and policies, including laws governing development, production, taxes, labour standards and occupational health, safety, toxic substances, resource exploitation and other matters; availability of government initiatives to support renewable energy generation; increase in industry competition; fluctuations in the market price of energy; impact of significant capital cost increases; unexpected or challenging geological conditions; changes to regulatory requirements, both regionally and internationally, governing development, geothermal or hydroelectric resources, production, exports, taxes, labour standards, occupational health, waste disposal, toxic substances, land use, environmental protection, project safety and other matters; economic, social and political risks arising from potential inability of end-users to support our properties; insufficient insurance coverage; inability to obtain equity or debt financing; fluctuations in the market price of our Shares and Warrants; impact of issuance of additional equity securities on the trading price of our Shares and Warrants; inability to retain key personnel; the risk of volatility in global financial conditions, as well as a significant decline in general economic conditions; uncertainty of political stability in countries where we operate; uncertainty of the ability of Nicaragua and Peru to sell power to neighboring countries; economic insecurity in Nicaragua and Peru; and other development and operating risks, as well as those factors discussed in the section entitled “Risk Factors” in the Company’s Annual Information Form for the year ended December 31, 2019 which is available on SEDAR. These factors should be considered carefully, and readers of this news release should not place undue reliance on forward-looking information.

Although the forward-looking information contained in this news release is based upon what management believes to be reasonable assumptions, there can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The information in this news release, including such forward-looking information, is made as of the date of this news release and, other than as required by applicable securities laws, Polaris Infrastructure assumes no obligation to update or revise such information to reflect new events or circumstances.

About Polaris Infrastructure

Polaris Infrastructure is a Toronto-based company engaged in the operation, acquisition and development of renewable energy projects in Latin America.  Currently, the Company operates a 72MW geothermal project located in Nicaragua and a 5MW as well as another 28 MW of run-of-river projects located in Peru.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/polaris-infrastructure-announces-amended-and-extended-pensa-power-purchase-agreement-301195580.html

SOURCE Polaris Infrastructure Inc.

Summit Hotel Properties Announces Leadership Transition

Dan Hansen to Become Executive Chairman

Jonathan Stanner to Become Chief Executive Officer and Join Board of Directors

PR Newswire

AUSTIN, Texas, Dec. 17, 2020 /PRNewswire/ — Summit Hotel Properties, Inc. (NYSE: INN) (the “Company”) today announced that Dan Hansen, Chairman, President and Chief Executive Officer will transition to the role of Executive Chairman of the Board of Directors effective January 15, 2021.  The Company’s Board has elected Jonathan Stanner, the Company’s current Executive Vice President, Chief Financial Officer and Treasurer, to become President and Chief Executive Officer and a member of the Board of Directors effective January 15, 2021.

“It has been a tremendous privilege to have had the opportunity to lead Summit through its significant evolution since our IPO in 2011.  Thanks to the efforts of our entire leadership team, we are well positioned for future success. I am excited to transition this role to Jon, who is an integral member of our team and has been deeply involved in crafting and executing our strategic vision.  He is well equipped to lead Summit through its next phase of growth,” said Mr. Hansen. 

Mr. Hansen will work closely with Mr. Stanner on his transition to Chief Executive Officer and will assume the overall responsibilities of Executive Chairman, including continued collaboration with the Board and Summit’s executive team in the execution of the Company’s strategic plans.

Mr. Stanner joined the Company in 2017 as Executive Vice President and Chief Investment Officer and became Executive Vice President, Chief Financial Officer and Treasurer in 2018 leading the Company’s finance, accounting and investment activities.  Prior to joining the Company, Mr. Stanner held various roles at Strategic Hotels & Resorts, Inc., the formerly publicly traded lodging REIT and affiliate of Blackstone Real Estate Partners.

“I am deeply honored to assume the roles of President, Chief Executive Officer and Director and energized to be afforded the opportunity to lead this great company and advance our position as an industry leader.  During my time with Summit, I have had the unique privilege to work alongside some of the industry’s most talented individuals and I would like to thank Dan for his guidance and support and the Board for placing its confidence and trust in me,” said Mr. Stanner.

The Company has initiated a comprehensive search process with the assistance of a leading executive recruiting firm to identify a new Chief Financial Officer.


About Summit Hotel Properties

Summit Hotel Properties, Inc. is a publicly traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the Upscale segment of the lodging industry.  As of December 17, 2020, the Company’s portfolio consisted of 72 hotels, 67 of which were wholly owned, with a total of 11,288 guestrooms located in 23 states.

For additional information, please visit the Company’s website, www.shpreit.com and follow the Company on Twitter at @SummitHotel_INN.

Forward Looking Statements

This press release contains statements that are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identifiable by use of forward-looking terminology such as “may,” “will,” “should,” “potential,” “intend,” “expect,” “seek,” “anticipate,” “estimate,” “approximately,” “believe,” “could,” “project,” “predict,” “forecast,” “continue,” “plan,” “likely,” “would” or other similar words or expressions. Forward-looking statements are based on certain assumptions and can include future expectations, future plans and strategies, financial and operating projections or other forward-looking information. These forward-looking statements are subject to various risks and uncertainties, not all of which are known to the Company and many of which are beyond the Company’s control, which could cause actual results to differ materially from such statements. These risks and uncertainties include, but are not limited to, the state of the U.S. economy, supply and demand in the hotel industry and other factors as are described in greater detail in the Company’s filings with the Securities and Exchange Commission, including, without limitation, the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. Unless legally required, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/summit-hotel-properties-announces-leadership-transition-301195583.html

SOURCE Summit Hotel Properties, Inc.

Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of Covia Holdings Corporation f/k/a Fairmount Santrol Holdings Inc. (CVIAQ) Investors

Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of Covia Holdings Corporation f/k/a Fairmount Santrol Holdings Inc. (CVIAQ) Investors

Shareholders with losses exceeding $400,000 are encouraged to contact the firm

LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Covia Holdings Corporation (“Covia” or the “Company”) f/k/a Fairmount Santrol Holdings Inc. (“Fairmount Santrol”) (OTC: CVIAQ) (NYSE: CVIA, FMSA) securities between March 15, 2016 and June 29, 2020, inclusive (the “Class Period”). Covia investors have until February 8, 2021 to file a lead plaintiff motion.

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

Covia provides minerals and materials solutions for the industrial and energy markets, including producing proprietary sand for use in fracking.

On March 22, 2019, after the market closed, the Company disclosed that it had “received a subpoena from the SEC seeking information relating to certain value-added proppants marketed and sold by Fairmount Santrol or Covia within the Energy segment since January 1, 2014.”

On this news, the Company’s share price fell $0.45, or 7%, to close at $6.05 per share on March 25, 2019, thereby injuring investors.

Then, on November 6, 2019, during market hours, Covia disclosed that “the SEC ha[d] requested additional information and subpoenaed certain current and former employees to testify.”

On this news, the Company’s share price fell $0.07, or 4.3%, to close at $1.56 per share on November 6, 2019, thereby injuring investors further.

Then, on June 29, 2020, after the market closed, the Company announced that it had filed for petitions under Chapter 11 of the U.S. Bankruptcy Code.

On June 30, 2020, the NYSE delisted the Company, stating in relevant part that “the Company is no longer suitable for listing . . . after the Company’s June 29, 2020 disclosure that the Company filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code.”

On this news, the Company’s share price fell $0.18, or more than 37%, between the closing price on NYSE and resuming trading OTC on July 1, 2020 at $0.30 per share.

The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Covia’s proprietary “value-added” proppants were not necessarily more effective than ordinary sand; (2) Covia’s revenues, which were dependent on its proprietary “value-added” proppants, was based on misrepresentations; (3) when Covia insiders raised this issue, defendants did not take meaningful steps to rectify the issue; and (4) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

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

If you purchased or otherwise acquired Covia securities during the Class Period, you may move the Court no later than February 8, 2021 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

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

Glancy Prongay & Murray LLP, Los Angeles

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

1925 Century Park East, Suite 2100

Los Angeles, CA 90067

www.glancylaw.com

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

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Signature Bank Completes $730 Million Preferred Stock Offering

Signature Bank Completes $730 Million Preferred Stock Offering

NEW YORK–(BUSINESS WIRE)–
Signature Bank (Nasdaq: SBNY), a New York-based full service commercial bank, announced today the completion of its underwritten public offering of 29.2 million depositary shares, each representing a 1/40th interest in a share of 5.000% Noncumulative Perpetual Series A Preferred Stock, at a public offering price of $25.00 per depositary share. The depositary shares sold in the offering included 1.2 million depositary shares sold pursuant to the underwriters’ option to purchase additional depositary shares to cover over-allotments.

The net proceeds to Signature Bank from the offering were approximately $708 million, after the deduction of offering expenses. The Bank intends to use the proceeds from the offering for general corporate purposes.

Morgan Stanley & Co. LLC, BofA Securities, Inc., Keefe, Bruyette & Woods, Inc., UBS Securities LLC and Piper Sandler & Co. acted as the underwriters in the offering.

About Signature Bank

Signature Bank (Nasdaq: SBNY), member FDIC, is a New York-based, full-service commercial bank with 36 private client offices throughout the metropolitan New York area, including those in Connecticut as well as California and North Carolina. Through its single-point-of-contact approach, the Bank’s private client banking teams primarily serve the needs of privately owned businesses, their owners and senior managers.

The Bank has two wholly owned subsidiaries: Signature Financial, LLC, provides equipment finance and leasing; and, Signature Securities Group Corporation, a licensed broker-dealer, investment adviser and member FINRA/SIPC, offers investment, brokerage, asset management and insurance products and services.

Since commencing operations in May 2001, Signature Bank, with $63.7 billion in assets, is one of the top 40 largest banks in the U.S., based on deposits (S&P Global Market Intelligence). Deposits as of September 30, 2020 reached $54.3 billion.

Signature Bank was the first FDIC-insured bank to launch a blockchain-based digital payments platform. Signet™ allows commercial clients to make real-time payments in U.S. dollars, 24/7/365 and was also the first solution to be approved for use by the NYS Department of Financial Services.

For more information, please visit https://www.signatureny.com/.

This press release and oral statements made from time to time by our representatives contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. You should not place undue reliance on those statements because they are subject to numerous risks and uncertainties relating to our operations and business environment, all of which are difficult to predict and may be beyond our control. Forward-looking statements include information concerning our future results, interest rates and the interest rate environment, loan and deposit growth, loan performance, operations, new private client teams and other hires, new office openings, our business strategy and the impact of the COVID-19 pandemic on each of the foregoing and on our business overall. These statements often include words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “potential,” “opportunity,” “could,” “project,” “seek,” “target,” “goal,” “should,” “will,” “would,” “plan,” “estimate” or other similar expressions. As you consider forward-looking statements, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties and assumptions that could cause actual results to differ materially from those in the forward-looking statements and can change as a result of many possible events or factors, not all of which are known to us or in our control. These factors include but are not limited to: (i) prevailing economic conditions; (ii) changes in interest rates, loan demand, real estate values and competition, any of which can materially affect origination levels and gain on sale results in our business, as well as other aspects of our financial performance, including earnings on interest-bearing assets; (iii) the level of defaults, losses and prepayments on loans made by us, whether held in portfolio or sold in the whole loan secondary markets, which can materially affect charge-off levels and required credit loss reserve levels; (iv) changes in monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System; (v) changes in the banking and other financial services regulatory environment, (vi) our ability to maintain the continuity, integrity, security and safety of our operations and (vii) competition for qualified personnel and desirable office locations. All of these factors are subject to additional uncertainty in the context of the COVID-19 pandemic, which is having an unprecedented impact on all aspects of our operations, the financial services industry and the economy as a whole. Although we believe that these forward-looking statements are based on reasonable assumptions, beliefs and expectations, if a change occurs or our beliefs, assumptions and expectations were incorrect, our business, financial condition, liquidity or results of operations may vary materially from those expressed in our forward-looking statements. Additional risks are described in our quarterly and annual reports filed with the FDIC. You should keep in mind that any forward-looking statements made by Signature Bank speak only as of the date on which they were made. New risks and uncertainties come up from time to time, and we cannot predict these events or how they may affect the Bank. Signature Bank has no duty to, and does not intend to, update or revise the forward-looking statements after the date on which they are made. In light of these risks and uncertainties, you should keep in mind that any forward-looking statement made in this release or elsewhere might not reflect actual results.

Investor Contact:

Eric R. Howell, Senior Executive Vice President –

Corporate and Business Development

646-822-1402, [email protected]

Media Contact:

Susan Turkell Lewis

646-822-1825, [email protected]

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Finance Banking Professional Services Other Professional Services Small Business

MEDIA:

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