Williams-Sonoma, Inc. announces release date for third quarter 2020 results: Thursday, November 19, 2020

Williams-Sonoma, Inc. announces release date for third quarter 2020 results: Thursday, November 19, 2020

SAN FRANCISCO–(BUSINESS WIRE)–
Williams-Sonoma, Inc. (NYSE: WSM) announced today that it will release its third quarter 2020 results on Thursday, November 19, 2020 after the market close. Following the release via the wire services, the Company will host a conference call beginning at 5:00 PM Eastern Time, which can be accessed at http://ir.williams-sonomainc.com/events. Following the call, a replay of the webcast will be available at http://ir.williams-sonomainc.com/events beginning at 6:15 PM Eastern Time on Thursday, November 19, 2020.

Williams-Sonoma, Inc. is a specialty retailer of high-quality, sustainable products for the home. These products, representing distinct merchandise strategies — Williams Sonoma, Pottery Barn, Pottery Barn Kids, West Elm, Pottery Barn Teen, Williams Sonoma Home, Rejuvenation, and Mark and Graham — are marketed through e-commerce websites, direct-mail catalogs and retail stores. These brands are also part of The Key Rewards, our free-to-join loyalty program that offers members exclusive benefits across the Williams-Sonoma family of brands. We operate in the U.S., Puerto Rico, Canada, Australia and the United Kingdom, offer international shipping to customers worldwide, and have unaffiliated franchisees that operate stores in the Middle East, the Philippines, Mexico and South Korea, as well as e-commerce websites in certain locations.

WILLIAMS-SONOMA, INC.

Julie Whalen

EVP, Chief Financial Officer

(415) 616-8524

-or-

Elise Wang

VP, Investor Relations and Corp PR

(415) 616-8571

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Retail Home Goods Specialty Luxury

MEDIA:

Sunworks Reports on Special Meeting of Stockholders

Merger Proposal with Peck Company Fails to Win Stockholder Approval

ROSEVILLE, Calif., Nov. 12, 2020 (GLOBE NEWSWIRE) — Sunworks, Inc. (Nasdaq: SUNW), a provider of solar power solutions for agriculture, commercial and industrial (ACI), public works and residential markets, today announced that the proposed merger with the Peck Company Holdings, Inc. (“Peck Company”) failed to secure stockholder approval. Sunworks had established October 9, 2020 as the record date for determining stockholders eligible to vote at the special meeting of stockholders and as of that record date, there were 16,628,992 shares of common stock outstanding and entitled to vote. At the special meeting of stockholders on November 12, 2020, only 4,362,575 votes were cast, or 26% of the total outstanding shares. This total fell short of the quorum required to vote on the proposed merger with the Peck Company. Quorum requires the presence, virtually or represented by proxy, of the holders of a majority of the voting power of the stock issued, outstanding and entitled to vote as of the record date. Therefore, the special meeting of stockholders was concluded and the merger was not approved. Following the special meeting of stockholders, pursuant to the terms of the merger agreement with the Peck Company, Sunworks notified the Peck Company of its decision to terminate the merger agreement.

Chuck Cargile, Sunworks Chairman of the Board, said, “We are disappointed that the proposed merger with the Peck Company failed to gain approval from our stockholders. We believed that this merger would have been the best long-term option for Sunworks and would have provided the best outcome for stockholders. We will continue to have strategic discussions with the Peck leadership team to determine if there are other ways for us to work together to benefit from the many synergies identified in this planned business combination.”

About Sunworks, Inc.

Sunworks, Inc. (NASDAQ:SUNW) is a premier provider of high performance solar power systems. Sunworks is committed to quality business practices that exceed industry standards and uphold its ideals of ethics and safety. Sunworks continues to grow its presence, expanding nationally with regional and local offices. The Company strives to consistently deliver high quality, performance-oriented solutions for customers in a wide range of industries including agricultural, commercial and industrial, state and federal, public works, and residential. Sunworks’ diverse, seasoned workforce includes veterans who bring a sense of pride, discipline, and professionalism to their interaction with customers. Sunworks is a member of the Solar Energy Industries Association (SEIA) and is a proud advocate for the advancement of solar power. For more information, visit www.sunworksusa.com.

Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “will,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Forward-looking statements include all statements other than statements of historical fact contained in this press release, including statements regarding the Company’s future business relationship with the Peck Company, future sales, revenue, gross profit, gross margin, operating expenses, operating income, net income, cash balance and cash from operating activities. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These risks include, but are not limited to, risks and uncertainties associated with: an inability to take advantage of synergies identified with the Peck Company, the impact of economic, competitive, regulatory, environmental and other factors affecting the Company and its operations, markets and products; the impact of COVID-19 and the related federal, state and local restrictions on the Company’s operations and workforce, the impact of COVID-19 and such restrictions on our customers, and the impact of COVID-19 on the Company’s supply chain and availability of shipping and distribution; the prospects for sales, lower revenues, failure to earn profit, higher costs than expected, potential operating losses, ownership dilution, inability to repay debt, and the inability to complete projects within anticipated timeframes and costs; the impact of tariffs imposed by governmental bodies; the impact of national and local economies generally; the Company’s ability to access governmental assisted financing; and other factors detailed in reports filed by the Company. You should also review the risks described in “Risk Factors” in Part I, Item 1A of Sunworks, Inc.’s Annual Report on Form 10-K and in the other reports and documents Sunworks files with the Securities and Exchange Commission from time to time.

Any forward-looking statement made by us in this press release is based only on information currently available to us and reflects only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Investor Relations Contact:

Rob Fink
FNK IR
646.809.4048
[email protected]

Sysco Eliminates Minimum Delivery Requirements and Offers Value-Added Services to Support Restaurant Industry

Restaurants Rising campaign makes it easier for restaurants to succeed and strengthen their business for the future

HOUSTON, Nov. 12, 2020 (GLOBE NEWSWIRE) — Sysco Corporation (NYSE: SYY), the leading global foodservice distribution company, announced today it will eliminate minimum delivery size requirements for customers’ regularly scheduled delivery days as part of the company’s Restaurants Rising campaign. This change is effective on Nov. 16 for all U.S. Broadline, FreshPoint, Buckhead Meat and Newport Meat customers.

Removing minimum delivery requirements is yet another way Sysco is leading the industry in supporting the success of restaurants, providing operators significant added flexibility in managing their business and making it easier to get what they need, when they need it. This change, while applicable to both large and small customers, is especially helpful to independent restaurant operators planning for potential changes in demand and COVID-19 restrictions during the winter months ahead.

“No other distributor is doing more than Sysco to help the restaurant industry succeed,” said Kevin Hourican, Sysco’s president and chief executive officer. “Eliminating minimum delivery requirements is our latest offering to show our customers that Sysco is on a mission to make it easier to do business with us. Combined with our value-added services and world-class sales team, we are helping restaurants – especially smaller, independent businesses — stay in business, better run their business, and evolve their business to drive increased traffic, now and in a post-pandemic world.”

In addition to the elimination of order minimums, Sysco’s value-added services and strategic partnership discounts are available for current and new customers, including:

  • FREE Restaurant Marketing Tools. Restaurants need to promote their business more than ever before. Our team can produce marketing solutions such as banners and posters that can be printed locally.
  • DISCOUNTS
    on
    s
    olutions
    and
    s
    ervices
    customers
    need right now. Sysco’s partners offer special discounts for important services restaurant operators need, such as delivery, mobile ordering and menu services.
  • FREE
    Sysco

    Foodie Solutions

    . Sysco has the expertise to help operators resolve business issues and generate new revenues. Sysco’s Foodie Solutions Toolkits offer a curated collection of the best industry practices, easy-to-use templates and exclusive, chef-tested products.
  • EASY Credit Card Payment
    . This option provides convenience for both existing and new customers.
  • FAST
    Onboarding for new customers. New customers can onboard in less than 24 hours and begin to benefit from the powerful suite of services, tools and solutions Sysco offers.

For more information, current and prospective customers can contact their Sysco Sales Consultant or visit Sysco.com/rising to get started.


About Sysco


Sysco is the global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. Its family of products also includes equipment and supplies for the foodservice and hospitality industries. With more than 57,000 associates, the company operates 326 distribution facilities worldwide and serves more than 625,000 customer locations. For fiscal 2020 that ended June 27, 2020, the company generated sales of more than $52 billion. Information about our CSR program, including Sysco’s 2019 Corporate Social Responsibility Report, can be found at www.sysco.com/csr2020report.

For more information, visit www.sysco.com or connect with Sysco on Facebook at www.facebook.com/SyscoCorporation or Twitter at https://twitter.com/Sysco. For important news and information regarding Sysco, visit the Investor Relations section of the company’s Internet home page at investors.sysco.com, which Sysco plans to use as a primary channel for publishing key information to its investors, some of which may contain material and previously non-public information. Investors should also follow us at www.twitter.com/SyscoStock and download the Sysco IR App, available on the iTunes App Store and the Google Play Market. In addition, investors should continue to review our news releases and filings with the SEC. It is possible that the information we disclose through any of these channels of distribution could be deemed to be material information. 

For more information contact:

Shannon Mutschler
Media Contact
[email protected]
T 281-584-4059

A video accompanying this release is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/ab2d3b9c-29b2-4bcb-a4ff-9d068cf4378b

Schultze Special Purpose Acquisition Corp. and Clever Leaves International Inc. to Participate in SPACInsider Webinar on November 16 at 1:00 p.m. ET

Former U.S. Senate Majority Leader, Tom Daschle Will Also Discuss Cannabis Regulation and Legislation

RYE BROOK, N.Y., Nov. 12, 2020 (GLOBE NEWSWIRE) — Schultze Special Purpose Acquisition Corp. (NASDAQ: SAMA, SAMAW, and SAMAU) (“SAMA”) and Clever Leaves International Inc. (“Clever Leaves”) today announced that the two companies will participate in a webinar hosted by SPACInsider on November 16, 2020 at 1:00 p.m. ET. Principals of Clever Leaves and SAMA will discuss recent updates to their pending transaction as highlighted below. Clever Leaves Special Advisor and Former Senate Majority Leader, Tom Daschle, will also be participating in the webinar to discuss the potential changing U.S. regulatory landscape. Gavin O’Reilly, who heads Cowen and Company’s cannabis investment banking practice, will help moderate the discussion.

The webinar for this event can be accessed at: https://zoom.us/webinar/register/9716002138660/WN_tAJgR_sJSPaCnmZLHrmWTA

Participants in the webinar will include:

  • Kyle Detwiler: CEO, Clever Leaves
  • Andres Fajardo: President, Clever Leaves
  • Senator Tom Daschle: Clever Leaves Special Advisor, Former U.S. Senate Majority Leader
  • George Schultze: Chairman and CEO, Schultze Special Purpose Acquisition Corp.
  • Gary Julien: EVP and Director, Schultze Special Purpose Acquisition Corp.
  • Gavin O’Reilly: Managing Director, Cowen and Company

On November 9, 2020 the two companies announced that they amended their definitive agreement (the “Business Combination Agreement”), which was entered into on July 25, 2020, pursuant to which a newly formed holding company, Clever Leaves Holdings Inc. (“Holdco”), will acquire SAMA and Clever Leaves (the “Business Combination”) and is anticipated to become a NASDAQ-listed public company trading under the ticker symbol “CLVR”.

Under the amended terms, the initial expected enterprise value has been reduced to $206 million from $255 million and the minimum cash condition for SAMA has been reduced to $26 million from $60 million. Additionally, the cash consideration payable to certain Clever Leaves’ shareholders at closing has been amended, thereby increasing the equity rollover consideration of the transaction to approximately 97% while Schultze Special Purpose Acquisition Sponsor, LLC agreed to restructure its’ equity ownership to better align with the capital retained at closing. In connection with these revised terms, institutional investors have committed over $10 million through a private placement to be funded at closing of the Business Combination. Additionally, select SAMA stockholders have agreed not to redeem their shares held thereby providing a path to over $16 million of additional committed capital1 and thus having adequate capital to consummate the transaction. When including SAMA’s cash in trust, the parties expect to have over $80 million of cash on its balance sheet following closing.

The amendments to the Business Combination Agreement have been unanimously approved by the Boards of Directors of both SAMA and Clever Leaves and the transaction remains on track to close in the fourth quarter of 2020, subject to the Registration Statement being declared effective by the SEC, in addition to other regulatory and shareholder approvals, as well as customary closing conditions.

Canaccord Genuity and EarlyBirdCapital are serving as financial advisors to SAMA, with Greenberg Traurig, LLP, Stikeman Elliott and Posse Herrera Ruiz serving as legal advisors. Cowen is serving as financial advisor to Clever Leaves, with Freshfields Bruckhaus Deringer US LLP, Dentons Canada LLP, and Brigard & Urrutia Abogados SAS serving as legal advisors.

About Schultze Special Purpose Acquisition Corp.

Schultze Special Purpose Acquisition Corp. (NASDAQ: SAMA, SAMAW, and SAMAU) is a blank check company formed for the purpose of entering into a merger, stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. SAMA’s sponsor is an affiliate of Schultze Asset Management, LP, an alternative investment management firm founded in 1998 that focuses on distressed, special situation and event-driven securities and has invested over $3.2 billion since inception with a notable track-record through its active investment strategy. SAMA itself is backed by an experienced team of operators and investors with a successful track-record of creating material value in public and private companies.

About Clever Leaves

Clever Leaves is a multi-national cannabis company with a mission to operate in compliance with federal and state laws and with an emphasis on ecologically sustainable, large-scale cultivation and pharmaceutical-grade processing as the cornerstones of its global cannabinoid business. With operations and investments in Canada, Colombia, Germany, Portugal, and the United States, Clever Leaves has created an effective distribution network and global footprint, with a foundation built upon capital efficiency and rapid growth. Clever Leaves aims to be one of the industry’s leading global cannabinoid companies recognized for its principles, people, and performance while fostering a healthier global community.

About
SPACInsider

SPACInsider is a trusted intelligence and analysis provider specializing in the Special Purpose Acquisition Corporation (SPAC) asset class. SPACInsider’s mission is to be the best-in-class source for SPAC information benefiting investors, SPAC teams, bankers and service providers. The company provides comprehensive data covering the SPAC transaction universe, along with detailed analysis and coverage of IPO and acquisition events. SPACInsider is led by Kristi Marvin, a career investment banker with over 15 years of experience in the capital markets, who began working on SPACs in 2005.

Additional Information and Where to Find It

SAMA, Clever Leaves and Holdco urge investors, stockholders and other interested persons to read the Registration Statement, including the proxy statement/prospectus, as well as other documents filed with the SEC, because these documents will contain important information about the Business Combination. Following the Registration Statement having been declared effective by the SEC, a definitive proxy statement/prospectus will be mailed to stockholders of SAMA as of a record date to be established for voting on the Business Combination. SAMA’s stockholders will also be able to obtain a copy of such documents, without charge, by directing a request to: Schultze Special Purpose Acquisition Corp, 800 Westchester Avenue, Suite 632, Rye Brook, New York 10573; e-mail: [email protected]. These documents, once available, can also be obtained, without charge, at the SEC’s web site (http://www.sec.gov).

Participants in Solicitation

SAMA, Clever Leaves, Holdco and their respective directors, executive officers and other members of their management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of SAMA stockholders in connection with the Business Combination. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to SAMA’s stockholders in connection with the Business Combination is set forth in the preliminary proxy statement/prospectus contained in the Registration Statement, and will also be included in the definitive proxy statement/prospectus for the Business Combination when available. Information concerning the interests of SAMA’s and Clever Leaves’ participants in the solicitation, which may, in some cases, be different than those of SAMA’s and Clever Leaves’ equity holders generally, is also set forth in the proxy statement/prospectus contained in the Registration Statement, and will also be included in the definitive proxy statement/prospectus for the Business Combination when available.

Forward Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts and may be identified by the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions). Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Factors that may cause such differences include, without limitation, SAMA’s and Clever Leaves’ inability to complete the transactions contemplated by the Business Combination; matters discovered by the parties as they complete their respective due diligence investigation of the other; the inability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, the amount of cash available following any redemptions by SAMA stockholders and the ability to close the private placement with certain institutional investors; the ability to meet NASDAQ’s listing standards following the consummation of the Business Combination; costs related to the Business Combination; expectations with respect to future operating and financial performance and growth, including when Clever Leaves or Holdco will become cash flow positive; the timing of the completion of the Business Combination; Clever Leaves’ ability to execute its business plans and strategy and to receive regulatory approvals; potential litigation involving the parties; global economic conditions; geopolitical events, natural disasters, acts of God and pandemics, including, but not limited to, the economic and operational disruptions and other effects of COVID-19; regulatory requirements and changes thereto; access to additional financing; and other risks and uncertainties indicated from time to time in filings with the SEC. Other factors include the possibility that the proposed transaction does not close, including due to the failure to receive required security holder approvals or the failure to satisfy other closing conditions. The foregoing list of factors is not exclusive. Additional information concerning certain of these and other risk factors is contained in SAMA’s most recent filings with the SEC and is contained in the Form S-4, including the proxy statement/prospectus. All subsequent written and oral forward-looking statements concerning SAMA, Clever Leaves or Holdco, the transactions described herein or other matters and attributable to SAMA, Clever Leaves, Holdco or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Each of SAMA, Clever Leaves and Holdco expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in their expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Schultze Special Purpose Acquisition Corp.
George J. Schultze: [email protected]
Gary M. Julien: [email protected]
(914) 701-5260

Investor Relations
Raphael Gross
ICR
[email protected]
(203) 682-8253

Media Relations
KCSA Strategic Communications
McKenna Miller
[email protected]
(347) 487-6197


1 Requires SAMA common stock to trade at greater than $10.30 based on the volume weighted average stock price for the five trading days immediately prior to the redemption date in connection with the closing of the business combination.

BellRing Brands Announces Share Repurchase Authorization of $60 Million

ST. LOUIS, Nov. 12, 2020 (GLOBE NEWSWIRE) — BellRing Brands, Inc. (NYSE:BRBR) today announced its Board of Directors approved a $60 million share repurchase authorization over the next two years. Repurchases may be made from time to time in the open market, private purchases, through forward, derivative, alternative, accelerated repurchase or automatic purchase transactions, or otherwise. The authorization does not, however, obligate BellRing to acquire any particular amount of shares, and repurchases may be suspended or terminated at any time at BellRing’s discretion. The amount and timing of repurchases are subject to a variety of factors including liquidity, share price, market conditions and legal requirements.

Cautionary Statement on Forward-Looking Language

Forward-looking statements, within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, are made in this press release. These forward-looking statements are sometimes identified from the use of forward-looking words such as “believe,” “should,” “could,” “potential,” “continue,” “expect,” “project,” “estimate,” “predict,” “anticipate,” “aim,” “intend,” “plan,” “forecast,” “target,” “is likely,” “will,” “can,” “may” or “would” or the negative of these terms or similar expressions elsewhere in this press release. All forward-looking statements are subject to a number of important factors, risks, uncertainties and assumptions that could cause actual results to differ materially from those described in any forward-looking statements. These factors and risks include, but are not limited to, unanticipated developments that prevent, delay or negatively impact the repurchases, the rapidly changing situation related to the COVID-19 pandemic and other financial, operational and legal risks and uncertainties detailed from time to time in BellRing’s cautionary statements contained in its filings with the Securities and Exchange Commission. These forward-looking statements represent BellRing’s judgment as of the date of this press release. BellRing disclaims, however, any intent or obligation to update these forward-looking statements.

About
BellRing Brands
, Inc.

BellRing Brands, Inc. is a rapidly growing leader in the global convenient nutrition category. Its primary brands, Premier Protein®, Dymatize® and PowerBar®, appeal to a broad range of consumers across all major product forms, including ready-to-drink protein shakes, powders and nutrition bars, and are distributed across a diverse network of channels including club, food, drug, mass, eCommerce, specialty and convenience. BellRing’s commitment to consumers is to strive to make highly effective products that deliver best-in-class nutritionals and superior taste. For more information, visit www.bellring.com.

Contact:

Investor Relations
Jennifer Meyer
[email protected]
(314) 644-7665

Mesa Air Group Announces Fourth Quarter Fiscal Year 2020 Earnings Release and Conference Call Date

PHOENIX, Nov. 12, 2020 (GLOBE NEWSWIRE) — Mesa Air Group, Inc. (NASDAQ: MESA) will release its fourth quarter earnings for fiscal year 2020 after the market closes on Wednesday, December 9. The company will also host a conference call to discuss the results on December 9 at 4:30 pm Eastern Time.

The call can be accessed by dialing 888-469-2054 and entering the passcode: PHOENIX (7463649).

There will also be a listen-only webcast on Mesa’s website (http://investor.mesa-air.com/events-and-presentations/events). A recorded version will be available on Mesa’s website approximately two hours after the call (http://investor.mesa-air.com).

About Mesa Air Group, Inc.

Headquartered in Phoenix, Arizona, Mesa Air Group, Inc. is the holding company of Mesa Airlines, a regional air carrier providing scheduled passenger service to 101 cities in 39 states, the District of Columbia, Canada and Mexico. As of October 31st, 2020, Mesa operated a fleet of 146 aircraft with approximately 342 daily departures and 3,200 employees. Mesa operates all of its flights as either American Eagle, United Express, or DHL Express flights pursuant to the terms of capacity purchase agreements entered into with American Airlines, Inc., United Airlines, Inc., and DHL.

Investor Relations
Brian Gillman
[email protected]

Media
Matthew Harris
[email protected]

Par Pacific Holdings to Participate in the Reuters Events Downstream Leadership Forum

HOUSTON, Nov. 12, 2020 (GLOBE NEWSWIRE) — Par Pacific Holdings, Inc. (NYSE: PARR)(“Par Pacific”) today announced that Joseph Israel, President & Chief Executive Officer of Par Petroleum, LLC, will participate in the Reuters Events Downstream Leadership Forum being held online on November 19-20, 2020. Mr. Israel will host a virtual discussion regarding the outlook for the refining industry on November 19, 2020 at 8:15 a.m. CST, followed by a live question and answer session.


About Par Pacific

Par Pacific Holdings, Inc. (NYSE: PARR), headquartered in Houston, Texas, owns and operates market-leading energy, infrastructure, and retail businesses. Par Pacific’s strategy is to acquire and develop businesses in logistically complex markets. Par Pacific owns and operates one of the largest energy networks in Hawaii with 148,000 bpd of combined refining capacity, a logistics system supplying the major islands of the state and 91 retail locations. In the Pacific Northwest and the Rockies, Par Pacific owns and operates 60,000 bpd of combined refining capacity, related multimodal logistics systems, and 33 retail locations.  Par Pacific also owns 46% of Laramie Energy, LLC, a natural gas production company with operations and assets concentrated in Western Colorado. More information is available at www.parpacific.com.

For more information contact:

Ashimi Patel
Manager, Investor Relations
(832) 916-3355
[email protected]

Former North Texas Food Bank Board Chair, Anurag Jain, Named One of Dallas Business Journal’s Outstanding Directors

Jain served on the NTFB board for 8 years, serving as board chair from July 2017-June 2020

Dallas, Nov. 12, 2020 (GLOBE NEWSWIRE) — North Texas Food Bank’s former board Chair Anurag Jain was honored by the Dallas Business Journal in the category of Individual Non-Profit Board at their Outstanding Directors Awards via a virtual ceremony on November 5, 2020. Jain served on the North Texas Food Bank Board for eight years including three years as board chair. During this time, the Food Bank faced several changes and challenges including the creation of a strategic vision with a goal to distribute  92 million meals by 2025, the passing of longtime CEO Jan Pruitt, the hiring of new CEO Trisha Cunningham, the completion of a historic $55M capital campaign and nearly tripling operations capacity with the opening of the Perot Family Campus distribution and volunteer center in Plano.

Jain’s service and leadership are characterized by Food Bank staff as innovative and enthusiastic with a focus on solutions to community needs. At the onset of the COVID-19 pandemic, when NTFB saw a significant decline in volunteer participation, Jain knew that there was an opportunity to help support displaced hospitality employees, looking for work after cutbacks due to the pandemic. Alongside business partner Patrick Brandt, Jain created a special fund called Get Shift Done that would provide out of work people with an income in exchange for support at local non-profits. Their work helped the North Texas Food Bank and several other non-profits continue their critical missions during a time when the need for these services was dire.  Launched in March, the effort has grown to ten additional cities and has helped serve more than 50 million meals with support from more than 22,000 workers and 110 nonprofit partners.

“Anurag has been a dedicated, giving and strong leader for NTFB and a supportive thought partner. He is a hunger hero and we are thrilled that the Dallas Business Journal has recognized his immense contributions to our community,” said Trisha Cunningham, President and CEO of the North Texas Food Bank. “It is amazing to think about how much progress our organization has made during these last few years and a great deal of credit goes to our board and especially Anurag, who championed our employees, our mission and worked closely with generous donors to help us achieve our goals. His vision for our community has always been crystal clear, as evidenced by the establishment of the Get Shift Done initiative. I am proud that this was launched in North Texas and has grown steadily since March. Anurag is laser focused on supporting our community and I am thankful for his leadership as well as his friendship.”

Recently the Food Bank exceeded its 2025 meal goal of 92 million meals.  Because of increased need and distributions due to the COVID-19 pandemic, the Food Bank provided access to nearly 97 million nutritious meals at the end of Fiscal Year 2020. Jain has passed the board chair torch to Michael Brookshire with a new goal to sustain operations to meet the elevated need.

“We established the position of Chairman Emeritus for Anurag to continue his support and leadership as the NTFB grows and expands in the years ahead,” said Cunningham.

As Chairman Emeritus, Jain will continue to provide support to the North Texas Food Bank.

“Fate brought me to NTFB, but it was the people and their commitment to the issue of hunger which kept me engaged with this critical mission,” said Anurag Jain, Board Chair Emeritus for the North Texas Food Bank. “It is humbling and gratifying to be associated with an organization like NTFB. Together, we were able to provide more meals than ever before, and that need continues to increase due to COVID-19. I am proud of the work that we did together to establish Get Shift Done. This program was successful and a model effort, thanks to the collaboration of generous donors, great teamwork within the nonprofit organizations served as well as the willingness of the frontline employees who wanted to make sure to support their communities while also earning an income. I am grateful to the NTFB for the nomination and I accept it in honor of my fellow board members as well as the staff who have worked tirelessly to provide healthy meals for neighbors in need.”

For more information about the Dallas Business Journal Outstanding Directors Awards please visit  https://www.bizjournals.com/Dallas

To learn more about the Get Shift Done Initiative, please visit https://www.getshiftdone.org/

About the North Texas Food Bank: The North Texas Food Bank (NTFB) is a top-ranked nonprofit hunger-relief organization operating a state-of-the-art volunteer and distribution center in Plano, the Perot Family Campus. Last year, the Food Bank worked hard in partnership with member agencies from our Feeding Network to provide access to almost 97 million nutritious meals across a diverse 13- county service area, exceeding our goal by five years to provide access to 92 million annual meals by 2025. But the need for hunger relief is complex and in order to meet the continued need, the NTFB is always working to increase our food distribution efforts and bridge the hunger gap for children, seniors, and families in North Texas.  NTFB is a member of Feeding America, a national hunger-relief organization.

About Anurag Jain:  Anurag Jain is a futurist, a consummate entrepreneur, philanthropist and venture capitalist focused on charting a better course for humanity by pioneering solutions to the world’s most complex problems. Jain’s ability to harness and leverage technology paired with his visionary global mindset has enabled him to successfully launch multiple companies. He is currently the Chairman of Access Healthcare, a healthcare services platform utilizing AI and robotic process automation (RPA) to transform the revenue cycle management industry. He is also Managing Partner of Perot Jain, a venture capital firm, where he has invested heavily across various exponential technologies to help build highly disruptive, industry transforming companies. Jain views philanthropy and corporate social responsibility as core tenets in his personal life and business.

###

Attachment

Anna Kurian
North Texas Food Bank 
214-270-2059
[email protected]

Liminal BioSciences Reports Third Quarter Financial Results

PR Newswire

  • PDUFA Target Action Date of June 5, 2021 for Ryplazim® (plasminogen) BLA Submission
  • Ryplazim® (plasminogen) Abstracts Selected for Presentation at American Society of Hematology (ASH) in early December
  • Changes to Board of Directors
  • OXER1 Antagonist Preclinical R&D Program Acquired
  • New Appointments to Board of Directors

  • US$30 MM in gross proceeds from a private placement closed in November

  • C$29.1 MM in proceeds from long-term loan from SALP in September
  • Executive team changes

LAVAL, QC, and CAMBRIDGE, England, Nov. 12, 2020 /PRNewswire/ – Liminal BioSciences Inc. (Nasdaq: LMNL) (“Liminal BioSciences” or the “Company”), a clinical-stage biopharmaceutical company, today reported its unaudited financial results for the third quarter ended September 30, 2020.

“It has been an eventful and historic quarter for the Company led by the resubmission of our biologics licensing application (BLA) with the United States Food and Drug Administration (FDA) for Ryplazim® (plasminogen),” said Patrick Sartore, Chief Operating Officer, Plasma-Derived Therapeutics. “As we advance through the regulatory review process towards the current PDUFA target action date of June 5, 2021, we are continuing to build out our commercialization strategy to bring this much needed treatment to patients with congenital plasminogen deficiency (C-PLGD) in the U.S., pending FDA approval.”

“With the support of our largest shareholder, Structured Alpha LP (SALP), we have strengthened our financial position through the completion of a private placement for gross proceeds of US$30 million, with an equal contribution from SALP and a new US healthcare investor, and with an additional long-term loan from SALP of C$29.1 million,” said Murielle Lortie, Chief Financial Officer.

The Company also reports that Mr. Kenneth Galbraith tendered his resignation as CEO and as a member of our Board for personal reasons, effective November 13, 2020. Mr. Bruce Pritchard, Chief Operating Officer, Small Molecule Therapeutics and Mr. Patrick Sartore, Chief Operating Officer, Plasma-Derived Therapeutics, are currently heading their respective business units and have agreed to act in the capacity of CEO and President respectively, effective November 13, 2020.  Mr. Galbraith will be involved in the transition of CEO duties to Mr. Pritchard.

Key Recent Highlights

  • BLA resubmission for Ryplazim® (plasminogen) filed with FDA in September 2020
  • PDUFA target action date now set by FDA as June 5, 2021
  • Ryplazim® (plasminogen) abstracts selected for presentation at ASH being held virtually between December 5 and 8, 2020
  • OXER1 antagonist R&D program acquired with C$2.4 million in secured convertible debenture financing provided to fund the ongoing preclinical research activities
  • Mr. Alek Krstajic and Mr. Eugene Siklos appointed to the Board of Directors
  • C$29.1 million in proceeds provided by long-term loan due in 2024 from SALP, the majority shareholder of Liminal
  • Completion of a private placement of common shares and warrants for US$30 million in gross proceeds from a combination of SALP and a new US healthcare investor
  • Mr. Kenneth Galbraith to step down as CEO and Mr. Bruce Pritchard to be appointed as CEO and Mr. Patrick Sartore to be appointed as President, effective on November 13, 2020.

Key Anticipated Milestones

Liminal BioSciences continues to take precautionary measures in response to the COVID-19 global pandemic to protect the health of its employees, their families, patients, donors and local communities. The Company has had only limited disruptions to ongoing business operations related to the pandemic and is in position to provide guidance on the timing of certain near-term objectives: 

  • Anticipated initiation of Phase 1 multiple ascending dose (MAD) trial in the United Kingdom of fezagepras in healthy volunteers in Q4-2020;
  • Expected nomination of preclinical product candidate (PCC) for GPR84 antagonist research program in Q4-2020;
  • Poster presentations for Ryplazim® (plasminogen) at ASH Annual Meeting to be held virtually in early December 2020;
  • Current expected PDUFA target action date for Ryplazim® (plasminogen) of June 5, 2021;
  • Potential monetization of Priority Review Voucher (PRV), if granted by FDA on successful Ryplazim® (plasminogen) BLA approval, in 2021
  • Anticipated initiation of a global Phase 2b clinical trial of fezagepras in patients with idiopathic pulmonary fibrosis (IPF) in H2-2021;
  • Anticipated initiation of Phase 1b/2a clinical trial of fezagepras in the US for patients with high triglyceride levels (hypertriglyceridemia) in H2-2021;
  • US commercial launch of Ryplazim® (plasminogen), if approved by FDA, in 2021;
  • Expected nomination of PCC for OXER1 antagonist research program in H2-2021;
  • Anticipated initiation of additional clinical studies for Ryplazim® (plasminogen) in H2-2021; and
  • Potential marketing collaborations and patient access for Ryplazim® (plasminogen), including in selected ex-US markets, in 2021 and 2022, pending required local approvals for such markets.

CoVIG-19 Plasma Alliance

In July 2020, Liminal BioSciences announced that it joined the CoVIg-19 Plasma Alliance to contribute to the acceleration of the development of a potential new therapy for COVID-19. On October 8, 2020, the National Institutes of Health announced the launch of a Phase 3 clinical trial supported by the Alliance. The trial is expected to assess the benefits of treatment in hospitalized patients across 18 countries to determine if an antibody-based serum (anti-coronavirus hIVIG) combined with remdesivir can boost the immune system to combat COVID-19. Liminal BioSciences will continue to evaluate ways in which it can support the fight against COVID-19 and encourage people who have fully recovered from COVID-19, or know someone who has, to use the Alliance’s “plasmabot” to find and be connected to a nearby plasma collection center.

“Our continued active managing of R&D and other expenses has contributed to the reduction of net loss from continuing operations for the third quarter of 2020 by approximately 20% compared to the same quarter of 2019,” said Murielle Lortie, Chief Financial Officer of Liminal BioSciences. “While we anticipate that our current working capital position together with the recently completed US$30 million private placement, should fund our continuing operations in the near term, we will continue to evaluate a variety of financing strategies to extend our cash runway, including a combination of public or private equity offerings, debt financings, strategic collaborations, business and asset divestitures, monetization of any PRV, that may be granted by the FDA in the future, and grant funding.”

Third Quarter Financial Results:

Following the sale of our bioseparations business segment in the fourth quarter of 2019, we have restated the prior periods to remove the impact of those operations from the lines in the financial statements and have reclassified those results to the discontinued operations line in the financial statements. All amounts presented in this section are in C$ unless otherwise specified.

  • Cash Position: Cash and cash equivalents at September 30, 2020 were $36.0 million compared to $26.0 million as of June 30, 2020. As at September 30, 2020, the Company’s working capital, i.e., the current assets net of current liabilities, amounted to $28.3 million compared to $17.0 million at June 30, 2020. This cash and working capital position excludes the private placement closed on November 3, 2020 of US$30 million in gross proceeds (C$36.9 million net proceeds).
  • Long-term debt: During the quarter ended September 30, 2020, we borrowed an additional $29.1 million in long-term debt under the borrowing facility provided by SALP. Total long-term debt as at September 30, 2020 was $40.4 million, of which $38.0 million is due and repayable in 2024.
  • Revenues were $0.6 million for the third quarter of 2020, as compared to $0.8 million for the third quarter of 2019.
  • Research and development expenses were $12.4 million for the third quarter of 2020 compared to $18.1 million for the third quarter of 2019, representing a decrease of approximately 31% primarily due to a reduction in manufacturing cost for Ryplazim® (plasminogen) of $3.1 million, the recognition of $1.5 million in grants under the Canadian Emergency Wage Subsidy program of the Canadian government and a reduction in payroll and related expenses of $2.1 million.
  • Administration, selling and marketing
    expenses were $9.0 million for the third quarter of 2020 compared to $9.9 million for the third quarter of 2019, representing a decrease of 9% due to a decline in legal fees, payroll and related expense, and share-based payments expense, but which were partially offset by an increase in directors’ and officers’ insurance cost.
  • Finance costs were $2.2 million for the third quarter of 2020 compared to $1.7 million for the third quarter of 2019, representing an increase of $0.5 million reflecting the interest incurred on our secured convertible debentures issued concurrently with the acquisition of the OXER1 antagonist R&D program, and on the increased long-term debt with SALP.
  • Net loss from continuing operations was $23.3 million for the third quarter of 2020 compared to $29.6 million for the third quarter of 2019, representing a decrease of approximately 22%.

About Liminal BioSciences Inc.
Liminal BioSciences is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing novel treatments for patients suffering from diseases of high unmet medical need, primarily related to fibrosis, including respiratory, liver and kidney diseases. Liminal BioSciences has a deep understanding of certain biological targets and pathways that have been implicated in the fibrotic process, including fatty acid receptors such as FFAR1, G-protein-coupled receptor 84 (GPR84), and peroxisome proliferator-activated receptors (PPARs). Our lead small molecule product candidate, fezagepras (PBI-4050), is expected to enter a Phase 1 clinical trial in Q4-2020 in the UK to evaluate multiple ascending doses in normal healthy volunteers, at daily dose exposures higher than those evaluated in our previously completed Phase 2 clinical trials. Fezagepras is expected to be further evaluated in a global Phase 2b clinical trial in patients with idiopathic pulmonary fibrosis (IPF) anticipated to be initiated in H2-2021. In addition, we expect to initiate a Phase 1b/2a clinical trial in the US of fezagepras for patients with high triglyceride levels (hypertriglyceridemia) in H2-2021.

Fezagepras has previously been granted Orphan Drug Designation by the FDA and the European Medical Agency (EMA) for the treatment of IPF. The treatment has also received a Promising Innovative Medicines (PIM) designation by the Medicines and Healthcare products Regulatory Agency (MHRA) for IPF.

Liminal BioSciences has also leveraged its experience in bioseparation technologies through its subsidiary Prometic Bioproduction Inc. to isolate and purify biopharmaceuticals from human plasma. Liminal BioSciences’ lead plasma-derived product candidate is Ryplazim®(plasminogen) (“Ryplazim®“), for which the Company, through its US subsidiary, Prometic Biotherapeutics Inc., resubmitted a BLA in September 2020 with the FDA seeking approval to treat patients with congenital plasminogen deficiency. The PDUFA target action date for this BLA filing is June 5, 2021. Ryplazim® has previously been granted Orphan Drug and Rare Pediatric Disease Designations by the FDA for the treatment of congenital plasminogen deficiency.

Prometic Plasma Resources, a subsidiary of Liminal BioSciences, has joined the CoVIg-19 Plasma Alliance to contribute to the acceleration of the development of a potential new therapy for COVID-19. Liminal BioSciences’ Canadian plasma collection center located in Winnipeg, Manitoba is licensed by the FDA and Health Canada, and is certified by the European Union and the Plasma Protein Therapeutics Association. Liminal BioSciences’ American plasma collection center located in Amherst, New York is licensed by the State of New York and its BLA submission is currently under review by the FDA.

Liminal BioSciences has active business operations in Canada, the United Kingdom and the United States.

Forward Looking Statement
This press release contains forward-looking statements about Liminal BioSciences’ objectives, strategies and businesses that involve risks and uncertainties. Forward–looking information includes statements concerning, among other things, statements regarding our clinical development plans for fezagepras, with respect to the timing for FDA review of the BLA for Ryplazim®, our plans for commercial launch of Ryplazim® in the United States if approved, our regulatory and commercial plans for Ryplazim® outside the United States, the potential of our product candidates and development of R&D programs and the nature and timing of initiation of clinical trials.

These statements are “forward-looking” because they are based on our current expectations about the markets we operate in and on various estimates and assumptions. Actual events or results may differ materially from those anticipated in these forward-looking statements if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. At this stage, the product candidates of the Company have not been authorized for sale in any country. Among the factors that could cause actual results to differ materially from those described or projected herein include, but are not limited to, risks associated with FDA review, Liminal BioSciences’ ability to effectively establish a commercial organization, Liminal BioSciences’ ability to develop, manufacture, and successfully commercialize product candidates, if ever, the impact of the COVID-19 pandemic on its business operations, clinical development, regulatory activities and financial and other corporate impacts, the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical trials, the ability of Liminal BioSciences to take advantage of business opportunities in the pharmaceutical industry, uncertainties associated generally with research and development, clinical trials and related regulatory reviews and approvals and general changes in economic conditions. You will find a more detailed assessment of these risks, uncertainties and other risks that could cause actual events or results to materially differ from our current expectations in the filings the Company makes with the U.S. Securities and Exchange Commission and Canadian Securities Commissions filings and reports filings and reports, including in the Annual Report on Form 20-F, as amended, for the year ended December 31, 2019 and future filings and reports by the Company, from time to time. Such risks may be amplified by the COVID-19 pandemic and its potential impact on Liminal BioSciences’ business and the global economy. As a result, we cannot guarantee that any forward-looking statement will materialize. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements and estimates, which speak only as of the date hereof.  We assume no obligation to update any forward-looking statement contained in this Press Release even if new information becomes available, as a result of future events or for any other reason, unless required by applicable securities laws and regulations.

Cision View original content:http://www.prnewswire.com/news-releases/liminal-biosciences-reports-third-quarter-financial-results-301172413.html

SOURCE Liminal BioSciences Inc.

Vertiv Holdings Co Announces Commencement of Secondary Offering

Vertiv Holdings Co Announces Commencement of Secondary Offering

COLUMBUS, Ohio–(BUSINESS WIRE)–
Vertiv Holdings Co (“Vertiv”) (NYSE: VRT), a global provider of critical digital infrastructure and continuity solutions, today announced the commencement of an underwritten secondary public offering of up to 18 million shares of Vertiv’s Class A common stock by VPE Holdings, LLC (“Platinum”), the selling stockholder and an affiliate of certain private equity investment funds advised by Platinum Equity Advisors, LLC (the “Selling Stockholder”), pursuant to a registration statement filed with the Securities and Exchange Commission (SEC).

Following the completion of the transactions, the Selling Stockholder will remain Vertiv’s largest stockholder, owning at least 77 million shares of Class A common stock, representing an economic interest of approximately 24% in Vertiv. Vertiv is not selling any shares of Class A common stock in the offering and will not receive any proceeds from the offering.

J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC are acting as joint book-running managers of, and as the underwriters for, the Offering.

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. A copy of the preliminary prospectus and preliminary prospectus supplement relating to the offering may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Vertiv, any underwriter, or any dealer participating in the offering will arrange to send these documents if contacted at: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, Attn: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY, 11717, or telephone: 1-866-803-9204 or by email at [email protected] or Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY, 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing [email protected].

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 Vertiv Holdings Co

Vertiv (NYSE: VRT) brings together hardware, software, analytics and ongoing services to ensure its customers’ vital applications run continuously, perform optimally and grow with their business needs. As Architects of Continuity™, Vertiv solves the most important challenges facing today’s data centers, communication networks and commercial and industrial facilities with a portfolio of power, cooling and IT infrastructure solutions and services that extends from the cloud to the edge of the network. Headquartered in Columbus, Ohio, Vertiv employs approximately 20,000 people and does business in more than 130 countries.

Cautionary Note Concerning Forward-Looking Statements

This press release, and other statements that Vertiv may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to Vertiv’s future financial or business performance, strategies or expectations, and as such are not historical facts. This includes, without limitation, statements regarding the financial position, capital structure, indebtedness, business strategy and plans and objectives of Vertiv management for future operations. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Vertiv cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements contained or incorporated by reference in this press release are based on current expectations and beliefs concerning future developments and their potential effects on Vertiv. There can be no assurance that future developments affecting Vertiv will be those that Vertiv has anticipated. Vertiv undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond Vertiv’s control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Vertiv has previously disclosed risk factors in its Securities and Exchange Commission (“SEC”) reports. These risk factors and those identified elsewhere in this press release, among others, could cause actual results to differ materially from historical performance and include, but are not limited to: competition, the ability of Vertiv to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; and factors relating to the business, operations and financial performance of Vertiv and its subsidiaries, including: global economic weakness and uncertainty; risks relating to the continued growth of Vertiv’s customers’ markets; failure to meet or anticipate technology changes; the unpredictability of Vertiv’s future operational results; disruption of Vertiv’s customers’ orders or Vertiv’s customers’ markets; less favorable contractual terms with large customers; risks associated with governmental contracts; failure to mitigate risks associated with long-term fixed price contracts; risks associated with information technology disruption or security; risks associated with the implementation and enhancement of information systems; failure to properly manage Vertiv’s supply chain or difficulties with third-party manufacturers; competition in the infrastructure technologies industry; failure to realize the expected benefit from any rationalization and improvement efforts; disruption of, or changes in, Vertiv’s independent sales representatives, distributors and original equipment manufacturers; failure to obtain performance and other guarantees from financial institutions; failure to realize sales expected from Vertiv’s backlog of orders and contracts; changes to tax law; ongoing tax audits; risks associated with future legislation and regulation of Vertiv’s customers’ markets both in the United States and abroad; costs or liabilities associated with product liability; Vertiv’s ability to attract, train and retain key members of its leadership team and other qualified personnel; the adequacy of Vertiv’s insurance coverage; a failure to benefit from future acquisitions; failure to realize the value of goodwill and intangible assets; the global scope of Vertiv’s operations; risks associated with Vertiv’s sales and operations in emerging markets; exposure to fluctuations in foreign currency exchange rates; Vertiv’s ability to comply with various laws and regulations and the costs associated with legal compliance; adverse outcomes to any legal claims and proceedings filed by or against Vertiv; Vertiv’s ability to protect or enforce its proprietary rights on which its business depends; third-party intellectual property infringement claims; liabilities associated with environmental, health and safety matters, including risks associated with the COVID-19 pandemic; risks associated with litigation or claims against Vertiv; Vertiv’s ability to realize cost savings in connection with Vertiv’s restructuring program; risks associated with Vertiv’s limited history of operating as an independent company; potential net losses in future periods; risks relating to the proposed offering, including Vertiv’s ability to complete the offering on anticipated terms and timelines or at all; and other risks and uncertainties indicated in Vertiv’s SEC reports or documents filed or to be filed with the SEC by Vertiv.

Category: Financial News

For investor inquiries:

Lynne Maxeiner

Vice President, Global Treasury & Investor Relations

Vertiv

T +1 614-841-6776

E: [email protected]

For media inquiries:

Sara Steindorf

FleishmanHillard for Vertiv

T +1 314-982-1725

E: [email protected]

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