document_id
stringlengths
28
55
text
stringlengths
595
9.67k
tokens
sequencelengths
120
1.88k
labels
sequencelengths
120
1.88k
859014-000114036114040165-ex99_1
EX-99.1 2 ex99_1.htm EXHIBIT 99.1 ex99_1.htm Exhibit 99.1 NEWS RELEASE COMPUWARE CORPORATION Corporate Headquarters One Campus Martius · Detroit, Michigan 48226 (313) 227-7300 For Immediate Release October 31, 2014 Compuware Announces Completion of Spin-Off of Covisint DETROIT, October 31, 2014 -- Compuware Corporation ("Compuware") (Nasdaq: CPWR), the technology performance company, today announced that it has completed its previously announced distribution of all of its 31,384,920 shares of Covisint Corporation ("Covisint") (Nasdaq: COVS) common stock as a pro rata dividend on shares of Compuware common stock, and on shares of Compuware common stock deliverable under restricted stock units relating to Compuware common stock ("RSUs"), outstanding on October 20, 2014, the record date. Based on the number of Compuware shares outstanding and shares deliverable under RSUs as of October 20, 2014, the record date for the distribution, holders of Compuware common stock received 0.14025466 shares of Covisint common stock in the distribution with respect to each outstanding share of Compuware common stock they owned at the close of business on the record date, and holders of RSUs received 0.14025466 shares of Covisint common stock in the distribution with respect to each share of Compuware common stock deliverable under the RSUs they held at the close of business on the record date. Fractional shares of Covisint common stock were not distributed to Compuware shareholders or RSU holders. Instead, the fractional shares of Covisint common stock will be aggregated and sold in the open market, with the net proceeds distributed pro rata in the form of cash payments to Compuware shareholders and RSU holders who would otherwise receive Covisint fractional shares. The spin-off is expected to be taxable for U.S. federal income tax purposes. Thus, the value of the Covisint common stock, as well as any cash received in lieu of fractional shares, will generally be taxable. Compuware shareholders and RSU holders should consult their tax advisors with respect to U.S. federal, state, local and foreign tax consequences of the distribution, including, without limitation, the potential imposition of withholding taxes on the distribution of Covisint common stock. With the completion of the distribution, Compuware no longer owns shares of Covisint common stock. Compuware common stock trades on Nasdaq under the symbol "CPWR." Covisint common stock trades on Nasdaq under the symbol "COVS". Compuware Corporation Compuware Corporation is the technology performance company, and we exist solely to help our customers optimize the performance of their most important and innovative technologies-those that drive their businesses forward. Today, more than 7,100 companies, including many of the world's largest organizations, depend on Compuware and our new generation approach to performance management to do just that. Learn more at: http://www.compuware.com . Compuware Announces Completion of Spin-Off of Covisint October 31, 2014 Page 2 Additional Information and Where to Find It On October 6, 2014, Compuware filed a preliminary proxy statement with the SEC in connection with the solicitation of proxies for a special meeting of shareholders related to the proposed acquisition of Compuware by affiliates of Thoma Bravo, LLC. Prior to the special meeting, Compuware will file with the SEC a definitive proxy statement, together with a WHITE proxy card. Promptly after filing the definitive proxy statement with the SEC, Compuware will mail the definitive proxy statement and a WHITE proxy card to each shareholder entitled to vote at the special meeting. INVESTORS AND SECURITY HOLDERS OF COMPUWARE ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO), THE ACCOMPANYING WHITE PROXY CARD AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. The definitive proxy statement (including the WHITE proxy card), the preliminary proxy statement, and any other documents filed by Compuware with the SEC (when they become available), may be obtained free of charge at the SEC's website (http://www.sec.gov) or at Compuware's website (http://www.compuware.com) or by writing to Compuware's Secretary at One Campus Martius, Detroit, MI 48226. Participants in the Solicitation Compuware and its directors and executive officers may be deemed to be participants in the solicitation of proxies from Compuware's shareholders with respect to the proposed acquisition of Compuware by affiliates of Thoma Bravo, LLC. Detailed information regarding the names, affiliations and interests of individuals who are participants in the solicitation of proxies of Compuware's shareholders is available in Compuware's preliminary proxy statement. Additional information about Compuware's directors and executive officers is set forth in the proxy statement on Schedule 14A filed with the SEC on February 14, 2014, and the Annual Report on Forms 10-K and 10-K/A for the fiscal year ended March 31, 2014. Press Contact Lisa Elkin, Senior Vice President, Marketing, Communications and Investor Relations, +1-313-227-7345 Certain statements in this release that are not historical facts, including those regarding the Company's future plans, objectives and expected performance, are "forward-looking statements" within the meaning of the federal securities laws. These forward-looking statements represent our outlook only as of the date of this release. While we believe any forward-looking statements we have made are reasonable, actual results could differ materially since the statements are based on our current expectations and are subject to risks and uncertainties. These risks and uncertainties are discussed in the Company's reports filed with the Securities and Exchange Commission. Readers are cautioned to consider these factors when relying on such forward-looking information. The Company does not undertake, and expressly disclaims any obligation, to update or alter its forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
[ "EX", "-", "99", ".", "1", "2", "ex99", "_", "1", ".", "htm", "EXHIBIT", "99", ".", "1", "ex99", "_", "1", ".", "htm", "Exhibit", "99", ".", "1", "NEWS", "RELEASE", "COMPUWARE", "CORPORATION", "Corporate", "Headquarters", "One", "Campus", "Martius", "·", "Detroit", ",", "Michigan", "48226", "(", "313", ")", "227", "-", "7300", "For", "Immediate", "Release", "October", "31", ",", "2014", "Compuware", "Announces", "Completion", "of", "Spin", "-", "Off", "of", "Covisint", "DETROIT", ",", "October", "31", ",", "2014", "--", "Compuware", "Corporation", "(", "\"", "Compuware", "\"", ")", "(", "Nasdaq", ":", "CPWR", ")", ",", "the", "technology", "performance", "company", ",", "today", "announced", "that", "it", "has", "completed", "its", "previously", "announced", "distribution", "of", "all", "of", "its", "31,384,920", "shares", "of", "Covisint", "Corporation", "(", "\"", "Covisint", "\"", ")", "(", "Nasdaq", ":", "COVS", ")", "common", "stock", "as", "a", "pro", "rata", "dividend", "on", "shares", "of", "Compuware", "common", "stock", ",", "and", "on", "shares", "of", "Compuware", "common", "stock", "deliverable", "under", "restricted", "stock", "units", "relating", "to", "Compuware", "common", "stock", "(", "\"", "RSUs", "\"", ")", ",", "outstanding", "on", "October", "20", ",", "2014", ",", "the", "record", "date", ".", "Based", "on", "the", "number", "of", "Compuware", "shares", "outstanding", "and", "shares", "deliverable", "under", "RSUs", "as", "of", "October", "20", ",", "2014", ",", "the", "record", "date", "for", "the", "distribution", ",", "holders", "of", "Compuware", "common", "stock", "received", "0", ".", "14025466", "shares", "of", "Covisint", "common", "stock", "in", "the", "distribution", "with", "respect", "to", "each", "outstanding", "share", "of", "Compuware", "common", "stock", "they", "owned", "at", "the", "close", "of", "business", "on", "the", "record", "date", ",", "and", "holders", "of", "RSUs", "received", "0", ".", "14025466", "shares", "of", "Covisint", "common", "stock", "in", "the", "distribution", "with", "respect", "to", "each", "share", "of", "Compuware", "common", "stock", "deliverable", "under", "the", "RSUs", "they", "held", "at", "the", "close", "of", "business", "on", "the", "record", "date", ".", "Fractional", "shares", "of", "Covisint", "common", "stock", "were", "not", "distributed", "to", "Compuware", "shareholders", "or", "RSU", "holders", ".", "Instead", ",", "the", "fractional", "shares", "of", "Covisint", "common", "stock", "will", "be", "aggregated", "and", "sold", "in", "the", "open", "market", ",", "with", "the", "net", "proceeds", "distributed", "pro", "rata", "in", "the", "form", "of", "cash", "payments", "to", "Compuware", "shareholders", "and", "RSU", "holders", "who", "would", "otherwise", "receive", "Covisint", "fractional", "shares", ".", "The", "spin", "-", "off", "is", "expected", "to", "be", "taxable", "for", "U", ".", "S", ".", "federal", "income", "tax", "purposes", ".", "Thus", ",", "the", "value", "of", "the", "Covisint", "common", "stock", ",", "as", "well", "as", "any", "cash", "received", "in", "lieu", "of", "fractional", "shares", ",", "will", "generally", "be", "taxable", ".", "Compuware", "shareholders", "and", "RSU", "holders", "should", "consult", "their", "tax", "advisors", "with", "respect", "to", "U", ".", "S", ".", "federal", ",", "state", ",", "local", "and", "foreign", "tax", "consequences", "of", "the", "distribution", ",", "including", ",", "without", "limitation", ",", "the", "potential", "imposition", "of", "withholding", "taxes", "on", "the", "distribution", "of", "Covisint", "common", "stock", ".", "With", "the", "completion", "of", "the", "distribution", ",", "Compuware", "no", "longer", "owns", "shares", "of", "Covisint", "common", "stock", ".", "Compuware", "common", "stock", "trades", "on", "Nasdaq", "under", "the", "symbol", "\"", "CPWR", ".", "\"", "Covisint", "common", "stock", "trades", "on", "Nasdaq", "under", "the", "symbol", "\"", "COVS", "\"", ".", "Compuware", "Corporation", "Compuware", "Corporation", "is", "the", "technology", "performance", "company", ",", "and", "we", "exist", "solely", "to", "help", "our", "customers", "optimize", "the", "performance", "of", "their", "most", "important", "and", "innovative", "technologies", "-", "those", "that", "drive", "their", "businesses", "forward", ".", "Today", ",", "more", "than", "7,100", "companies", ",", "including", "many", "of", "the", "world", "'s", "largest", "organizations", ",", "depend", "on", "Compuware", "and", "our", "new", "generation", "approach", "to", "performance", "management", "to", "do", "just", "that", ".", "Learn", "more", "at", ":", "http://www.compuware.com", ".", "Compuware", "Announces", "Completion", "of", "Spin", "-", "Off", "of", "Covisint", "October", "31", ",", "2014", "Page", "2", "Additional", "Information", "and", "Where", "to", "Find", "It", "On", "October", "6", ",", "2014", ",", "Compuware", "filed", "a", "preliminary", "proxy", "statement", "with", "the", "SEC", "in", "connection", "with", "the", "solicitation", "of", "proxies", "for", "a", "special", "meeting", "of", "shareholders", "related", "to", "the", "proposed", "acquisition", "of", "Compuware", "by", "affiliates", "of", "Thoma", "Bravo", ",", "LLC", ".", "Prior", "to", "the", "special", "meeting", ",", "Compuware", "will", "file", "with", "the", "SEC", "a", "definitive", "proxy", "statement", ",", "together", "with", "a", "WHITE", "proxy", "card", ".", "Promptly", "after", "filing", "the", "definitive", "proxy", "statement", "with", "the", "SEC", ",", "Compuware", "will", "mail", "the", "definitive", "proxy", "statement", "and", "a", "WHITE", "proxy", "card", "to", "each", "shareholder", "entitled", "to", "vote", "at", "the", "special", "meeting", ".", "INVESTORS", "AND", "SECURITY", "HOLDERS", "OF", "COMPUWARE", "ARE", "URGED", "TO", "READ", "THESE", "MATERIALS", "(", "INCLUDING", "ANY", "AMENDMENTS", "OR", "SUPPLEMENTS", "THERETO", ")", ",", "THE", "ACCOMPANYING", "WHITE", "PROXY", "CARD", "AND", "OTHER", "DOCUMENTS", "FILED", "WITH", "THE", "SEC", "CAREFULLY", "WHEN", "THEY", "BECOME", "AVAILABLE", "BECAUSE", "THEY", "WILL", "CONTAIN", "IMPORTANT", "INFORMATION", ".", "The", "definitive", "proxy", "statement", "(", "including", "the", "WHITE", "proxy", "card", ")", ",", "the", "preliminary", "proxy", "statement", ",", "and", "any", "other", "documents", "filed", "by", "Compuware", "with", "the", "SEC", "(", "when", "they", "become", "available", ")", ",", "may", "be", "obtained", "free", "of", "charge", "at", "the", "SEC", "'s", "website", "(", "http://www.sec.gov", ")", "or", "at", "Compuware", "'s", "website", "(", "http://www.compuware.com", ")", "or", "by", "writing", "to", "Compuware", "'s", "Secretary", "at", "One", "Campus", "Martius", ",", "Detroit", ",", "MI", "48226", ".", "Participants", "in", "the", "Solicitation", "Compuware", "and", "its", "directors", "and", "executive", "officers", "may", "be", "deemed", "to", "be", "participants", "in", "the", "solicitation", "of", "proxies", "from", "Compuware", "'s", "shareholders", "with", "respect", "to", "the", "proposed", "acquisition", "of", "Compuware", "by", "affiliates", "of", "Thoma", "Bravo", ",", "LLC", ".", "Detailed", "information", "regarding", "the", "names", ",", "affiliations", "and", "interests", "of", "individuals", "who", "are", "participants", "in", "the", "solicitation", "of", "proxies", "of", "Compuware", "'s", "shareholders", "is", "available", "in", "Compuware", "'s", "preliminary", "proxy", "statement", ".", "Additional", "information", "about", "Compuware", "'s", "directors", "and", "executive", "officers", "is", "set", "forth", "in", "the", "proxy", "statement", "on", "Schedule", "14A", "filed", "with", "the", "SEC", "on", "February", "14", ",", "2014", ",", "and", "the", "Annual", "Report", "on", "Forms", "10", "-", "K", "and", "10", "-", "K", "/", "A", "for", "the", "fiscal", "year", "ended", "March", "31", ",", "2014", ".", "Press", "Contact", "Lisa", "Elkin", ",", "Senior", "Vice", "President", ",", "Marketing", ",", "Communications", "and", "Investor", "Relations", ",", "+", "1", "-", "313", "-", "227", "-", "7345", "Certain", "statements", "in", "this", "release", "that", "are", "not", "historical", "facts", ",", "including", "those", "regarding", "the", "Company", "'s", "future", "plans", ",", "objectives", "and", "expected", "performance", ",", "are", "\"", "forward", "-", "looking", "statements", "\"", "within", "the", "meaning", "of", "the", "federal", "securities", "laws", ".", "These", "forward", "-", "looking", "statements", "represent", "our", "outlook", "only", "as", "of", "the", "date", "of", "this", "release", ".", "While", "we", "believe", "any", "forward", "-", "looking", "statements", "we", "have", "made", "are", "reasonable", ",", "actual", "results", "could", "differ", "materially", "since", "the", "statements", "are", "based", "on", "our", "current", "expectations", "and", "are", "subject", "to", "risks", "and", "uncertainties", ".", "These", "risks", "and", "uncertainties", "are", "discussed", "in", "the", "Company", "'s", "reports", "filed", "with", "the", "Securities", "and", "Exchange", "Commission", ".", "Readers", "are", "cautioned", "to", "consider", "these", "factors", "when", "relying", "on", "such", "forward", "-", "looking", "information", ".", "The", "Company", "does", "not", "undertake", ",", "and", "expressly", "disclaims", "any", "obligation", ",", "to", "update", "or", "alter", "its", "forward", "-", "looking", "statements", "whether", "as", "a", "result", "of", "new", "information", ",", "future", "events", "or", "otherwise", ",", "except", "as", "required", "by", "applicable", "law", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1002517-000095013507005433-b66715ncexv99w2
EX-99.2 6 b66715ncexv99w2.htm EX-99.1 PRESS RELEASE DATED AUGUST 27, 2007 exv99w2 Exhibit 99.2 News Release For Immediate Release Contacts: Richard Mack Mira Genser Nuance Communications, Inc. Nuance Communications, Inc. Tel: (781) 565-5000 Tel: (781) 970-5223 Email: [email protected] Email: [email protected] Nuance Closes Acquisition of VoiceSignal BURLINGTON, Mass., August 27, 2007 - Nuance Communications, Inc. (NASDAQ: NUAN), the world's leading supplier of speech solutions, today announced it has closed the acquisition of VoiceSignal Technologies, Inc. With proven technology, broad industry relationships, real-world deployment experience and an organization passionate about speech technology, the combined company will be able to develop new and innovative speech solutions and mobile search capabilities to more effectively serve the rapidly expanding market for mobile services and applications. The combination of Nuance and VoiceSignal creates an organization that can satisfy the accelerating demand for speech-enabled mobile devices and services. Nuance expects to serve more than one billion consumers within the next three years with voice-based mobile solutions that allow people to simply and effectively navigate, retrieve and transact across the vast and growing universe of content and services available in mobile phones, automobiles and personal navigation devices. The combined company will include among its mobility customers AOL, AT&T, DaimlerChrysler, Ford, Kyocera, LG, Motorola, Nokia, Palm, Rogers Wireless, Samsung, Sanyo, Sony Ericsson, Sprint, RIM, T-Mobile, Toyota and Vodafone. In connection with the acquisition of VoiceSignal and in accordance with NASDAQ Marketplace Rule 4350, Nuance will grant 446,750 shares of its common stock, in the form of stand-alone restricted stock units, as an inducement that is material to 65 individuals entering into employment arrangements with Nuance. The restricted stock units will be granted upon the approval of the Compensation Committee of Nuance's Board of Directors. The restricted stock units generally vest over a four year period. About Nuance Communications, Inc. Nuance Communications, Inc. (NASDAQ: NUAN) is a leading provider of speech and imaging solutions for businesses and consumers around the world. Its technologies, applications and services make the user experience more compelling by transforming the way people interact with information and how they create, share and use documents. Every day, millions of users and thousands of businesses experience Nuance's proven applications. For more information, please visit www.nuance.com. Trademark reference: Nuance and the Nuance logo are registered trademarks or trademarks of Nuance Communications, Inc. or its affiliates in the United States and/or other countries. All other trademarks referenced herein are the property of their respective owners. SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS Statements in this document regarding the transaction between Nuance and VoiceSignal, the resources and product portfolio of the combined company, anticipated growth in the number of speech-enabled mobile devices, benefits and synergies of the transaction, future opportunities for the combined company, and any other statements about Nuance or VoiceSignal managements' future expectations, beliefs, goals, plans or prospects constitute forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans", "anticipates", "expects," estimates and similar expressions) should also be considered to be forward looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward looking statements, including: the ability to consummate the transaction; the ability of Nuance to successfully integrate VoiceSignal's operations and employees; the ability to realize anticipated synergies and cost savings; the failure to retain customers; and the other factors described in Nuance's Quarterly Report on Form 10-Q for the quarter ended June 30, 2007. Nuance disclaims any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this document. 2
[ "EX", "-", "99", ".", "2", "6", "b66715ncexv99w2", ".", "htm", "EX", "-", "99", ".", "1", "PRESS", "RELEASE", "DATED", "AUGUST", "27", ",", "2007", "exv99w2", "Exhibit", "99", ".", "2", "News", "Release", "For", "Immediate", "Release", "Contacts", ":", "Richard", "Mack", "Mira", "Genser", "Nuance", "Communications", ",", "Inc", ".", "Nuance", "Communications", ",", "Inc", ".", "Tel", ":", "(", "781", ")", "565", "-", "5000", "Tel", ":", "(", "781", ")", "970", "-", "5223", "Email", ":", "[email protected]", "Email", ":", "[email protected]", "Nuance", "Closes", "Acquisition", "of", "VoiceSignal", "BURLINGTON", ",", "Mass", ".", ",", "August", "27", ",", "2007", "-", "Nuance", "Communications", ",", "Inc", ".", "(", "NASDAQ", ":", "NUAN", ")", ",", "the", "world", "'s", "leading", "supplier", "of", "speech", "solutions", ",", "today", "announced", "it", "has", "closed", "the", "acquisition", "of", "VoiceSignal", "Technologies", ",", "Inc", ".", "With", "proven", "technology", ",", "broad", "industry", "relationships", ",", "real", "-", "world", "deployment", "experience", "and", "an", "organization", "passionate", "about", "speech", "technology", ",", "the", "combined", "company", "will", "be", "able", "to", "develop", "new", "and", "innovative", "speech", "solutions", "and", "mobile", "search", "capabilities", "to", "more", "effectively", "serve", "the", "rapidly", "expanding", "market", "for", "mobile", "services", "and", "applications", ".", "The", "combination", "of", "Nuance", "and", "VoiceSignal", "creates", "an", "organization", "that", "can", "satisfy", "the", "accelerating", "demand", "for", "speech", "-", "enabled", "mobile", "devices", "and", "services", ".", "Nuance", "expects", "to", "serve", "more", "than", "one", "billion", "consumers", "within", "the", "next", "three", "years", "with", "voice", "-", "based", "mobile", "solutions", "that", "allow", "people", "to", "simply", "and", "effectively", "navigate", ",", "retrieve", "and", "transact", "across", "the", "vast", "and", "growing", "universe", "of", "content", "and", "services", "available", "in", "mobile", "phones", ",", "automobiles", "and", "personal", "navigation", "devices", ".", "The", "combined", "company", "will", "include", "among", "its", "mobility", "customers", "AOL", ",", "AT", "&", "T", ",", "DaimlerChrysler", ",", "Ford", ",", "Kyocera", ",", "LG", ",", "Motorola", ",", "Nokia", ",", "Palm", ",", "Rogers", "Wireless", ",", "Samsung", ",", "Sanyo", ",", "Sony", "Ericsson", ",", "Sprint", ",", "RIM", ",", "T", "-", "Mobile", ",", "Toyota", "and", "Vodafone", ".", "In", "connection", "with", "the", "acquisition", "of", "VoiceSignal", "and", "in", "accordance", "with", "NASDAQ", "Marketplace", "Rule", "4350", ",", "Nuance", "will", "grant", "446,750", "shares", "of", "its", "common", "stock", ",", "in", "the", "form", "of", "stand", "-", "alone", "restricted", "stock", "units", ",", "as", "an", "inducement", "that", "is", "material", "to", "65", "individuals", "entering", "into", "employment", "arrangements", "with", "Nuance", ".", "The", "restricted", "stock", "units", "will", "be", "granted", "upon", "the", "approval", "of", "the", "Compensation", "Committee", "of", "Nuance", "'s", "Board", "of", "Directors", ".", "The", "restricted", "stock", "units", "generally", "vest", "over", "a", "four", "year", "period", ".", "About", "Nuance", "Communications", ",", "Inc", ".", "Nuance", "Communications", ",", "Inc", ".", "(", "NASDAQ", ":", "NUAN", ")", "is", "a", "leading", "provider", "of", "speech", "and", "imaging", "solutions", "for", "businesses", "and", "consumers", "around", "the", "world", ".", "Its", "technologies", ",", "applications", "and", "services", "make", "the", "user", "experience", "more", "compelling", "by", "transforming", "the", "way", "people", "interact", "with", "information", "and", "how", "they", "create", ",", "share", "and", "use", "documents", ".", "Every", "day", ",", "millions", "of", "users", "and", "thousands", "of", "businesses", "experience", "Nuance", "'s", "proven", "applications", ".", "For", "more", "information", ",", "please", "visit", "www.nuance.com", ".", "Trademark", "reference", ":", "Nuance", "and", "the", "Nuance", "logo", "are", "registered", "trademarks", "or", "trademarks", "of", "Nuance", "Communications", ",", "Inc", ".", "or", "its", "affiliates", "in", "the", "United", "States", "and", "/", "or", "other", "countries", ".", "All", "other", "trademarks", "referenced", "herein", "are", "the", "property", "of", "their", "respective", "owners", ".", "SAFE", "HARBOR", "FOR", "FORWARD", "-", "LOOKING", "STATEMENTS", "Statements", "in", "this", "document", "regarding", "the", "transaction", "between", "Nuance", "and", "VoiceSignal", ",", "the", "resources", "and", "product", "portfolio", "of", "the", "combined", "company", ",", "anticipated", "growth", "in", "the", "number", "of", "speech", "-", "enabled", "mobile", "devices", ",", "benefits", "and", "synergies", "of", "the", "transaction", ",", "future", "opportunities", "for", "the", "combined", "company", ",", "and", "any", "other", "statements", "about", "Nuance", "or", "VoiceSignal", "managements", "'", "future", "expectations", ",", "beliefs", ",", "goals", ",", "plans", "or", "prospects", "constitute", "forward", "looking", "statements", "within", "the", "meaning", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "Any", "statements", "that", "are", "not", "statements", "of", "historical", "fact", "(", "including", "statements", "containing", "the", "words", "\"", "believes", ",", "\"", "\"", "plans", "\"", ",", "\"", "anticipates", "\"", ",", "\"", "expects", ",", "\"", "estimates", "and", "similar", "expressions", ")", "should", "also", "be", "considered", "to", "be", "forward", "looking", "statements", ".", "There", "are", "a", "number", "of", "important", "factors", "that", "could", "cause", "actual", "results", "or", "events", "to", "differ", "materially", "from", "those", "indicated", "by", "such", "forward", "looking", "statements", ",", "including", ":", "the", "ability", "to", "consummate", "the", "transaction", ";", "the", "ability", "of", "Nuance", "to", "successfully", "integrate", "VoiceSignal", "'s", "operations", "and", "employees", ";", "the", "ability", "to", "realize", "anticipated", "synergies", "and", "cost", "savings", ";", "the", "failure", "to", "retain", "customers", ";", "and", "the", "other", "factors", "described", "in", "Nuance", "'s", "Quarterly", "Report", "on", "Form", "10", "-", "Q", "for", "the", "quarter", "ended", "June", "30", ",", "2007", ".", "Nuance", "disclaims", "any", "intention", "or", "obligation", "to", "update", "any", "forward", "looking", "statements", "as", "a", "result", "of", "developments", "occurring", "after", "the", "date", "of", "this", "document", ".", "2" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1025707-000093041305001104-c35715_ex99-1
EX-99.1 15 c35715_ex99-1.txt EXHIBIT 99.1 NEWS RELEASE for February 22, 2005 at 7:30 am EST ------------------------------------------------- CONTACTS FOR INCENTRA SOLUTIONS: Allen & Caron Inc. Incentra Solutions, Inc. Jill Bertotti (investors) Thomas P. Sweeney, III [email protected] Chairman and CEO ------------------- (303) 449-8279 Len Hall (financial media) [email protected] ------------------ (949) 474-4300 INCENTRA SOLUTIONS COMPLETES ACQUISITION OF STAR SOLUTIONS ALMOST DOUBLES ANNUALIZED REVENUES, PROVIDES PLATFORM FOR SALE OF HIGHER MARGIN STORAGE SOLUTIONS AND SERVICES BOULDER, CO, FEBRUARY 22, 2005 - Incentra Solutions, Inc. (OTCBB: ICEN) announced today that it has acquired privately-held STAR Solutions, Inc. (www.star-solutions.com) of San Diego in a transaction that almost doubles the Company's annualized revenue and is expected to be immediately accretive. Chairman and CEO, Thomas P. Sweeney, said that the acquisition of STAR is a key first step in implementing the Company's strategy to substantially grow revenues in its target markets by acquiring established direct sales and service organizations. STAR is a leading systems integrator that provides Information Technology (IT) products, professional services and outsourcing solutions to enterprise markets in the western United States. The purchase price for STAR consisted of $1.5 million in cash, approximately 12.6 million shares of unregistered Incentra common stock, and an unsecured promissory note for $2.5 million. Incentra acquired all of the outstanding shares of capital stock of STAR. At the time of the acquisition, STAR had $1.6 million in cash and no outstanding debt. Financing for the acquisition was provided by Wells Fargo Bank, N.A. through a new $5 million commercial loan facility. The facility paid all costs of the acquisition and is expected to provide sufficient capacity to finance the growth of the business and subsequent acquisitions. The acquisition of STAR increases Incentra's direct sales resources in the enterprise market, and will provide the Company direct access to customers for its unique monitoring and management services. The Company intends to introduce its GridWorks services this year to STAR's customers and will introduce over time first call support services for all products sold by STAR. "We expect to see increasing gross margins throughout the year, as well as increases in our monthly recurring revenues as a direct result of this acquisition" Sweeney said. STAR provides IT consulting, systems, storage and outsourcing services to a large base of customers in financial services, hospitality, retail, security and manufacturing verticals. STAR revenues in 2004 amounted to approximately $17 million which generated net income. "STAR has an excellent management team, top flight personnel and an exceptional record of providing high quality IT solutions to its growing customer base," Sweeney said. "The acquisition of STAR will significantly expand our ability to deliver complete storage solutions, including hardware, software and services, to a larger number of mid-sized enterprises". STAR will operate as a wholly-owned subsidiary of Incentra Solutions and be managed by STAR President Elaine A. Bellock. Ms. Bellock has been with STAR for the past five years and has been President since early 2003, when she assumed the management of all day-to-day operations from the founder and principal owner. STAR's 45 employees will continue to be based in San Diego, the San Francisco Bay Area, Los Angeles, Las Vegas, Phoenix and Delray Beach, FL. "It had become increasingly clear to us over the last few years", Bellock said, "that customers continue to experience changes in their IT environments, and those changes present an increased need for services to augment their existing staff. Partnering with Incentra Solutions enables STAR to now offer a broader set of services to our customers, which will create additional competitive advantages". Inveraray Partners headquartered in the San Francisco Bay Area advised Incentra Solutions on the acquisition. "Mike Orbach and the team at Inveraray did a tremendous job from start to finish", Sweeney said. ABOUT STAR SOLUTIONS, INC. Systems Technology and Resources (STAR Solutions) is committed to providing clients with affordable and flexible Information Technology solutions to overcome the challenges found in today's complex business environments. Established in 1997 with personnel in San Diego, Los Angeles, Las Vegas, Fort Lauderdale, San Francisco Bay Area and Phoenix, STAR Solutions expanded from a traditional Hardware/Software Solution Provider to a full-service Technology Consulting Company supporting clients nationwide. As Professional Development Specialists, STAR Solutions specializes in designing, building, implementing and knowledge transfer of technology solutions across the complete infrastructure. ABOUT INCENTRA SOLUTIONS, INC. Incentra Solutions, Inc. (OTCBB:ICEN) (WWW.INCENTRASOLUTIONS.COM), is a provider of storage management solutions to broadcasters, enterprises and managed service providers worldwide. The Company operates a Broadcast & Media Division, Front Porch Digital (WWW.FPDIGITAL.COM), that provides digital archive management and transcoding solutions and a wholly-owned subsidiary, ManagedStorage International (MSI, WWW.MSISERVICE.COM), that provides storage management software, hardware and outsourcing services facilitated by its GridWorks online storage resource management product. INCENTRA SOLUTIONS FORWARD LOOKING STATEMENTS Certain information discussed in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the Company's inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company's business. For further information on factors which could impact the Company and the statements contained herein, reference should be made to the Company's filings with the Securities and Exchange Commission, including Annual Reports on Form 10-KSB, Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events. # # # #
[ "EX", "-", "99", ".", "1", "15", "c35715", "_", "ex99", "-", "1", ".", "txt", "EXHIBIT", "99", ".", "1", "NEWS", "RELEASE", "for", "February", "22", ",", "2005", "at", "7", ":", "30", "am", "EST", "-------------------------------------------------", "CONTACTS", "FOR", "INCENTRA", "SOLUTIONS", ":", "Allen", "&", "Caron", "Inc", ".", "Incentra", "Solutions", ",", "Inc", ".", "Jill", "Bertotti", "(", "investors", ")", "Thomas", "P", ".", "Sweeney, III", "[email protected]", "Chairman", "and", "CEO", "-------------------", "(", "303", ")", "449", "-", "8279", "Len", "Hall", "(", "financial", "media", ")", "[email protected]", "------------------", "(", "949", ")", "474", "-", "4300", "INCENTRA", "SOLUTIONS", "COMPLETES", "ACQUISITION", "OF", "STAR", "SOLUTIONS", "ALMOST", "DOUBLES", "ANNUALIZED", "REVENUES", ",", "PROVIDES", "PLATFORM", "FOR", "SALE", "OF", "HIGHER", "MARGIN", "STORAGE", "SOLUTIONS", "AND", "SERVICES", "BOULDER", ",", "CO", ",", "FEBRUARY", "22", ",", "2005", "-", "Incentra", "Solutions", ",", "Inc", ".", "(", "OTCBB", ":", "ICEN", ")", "announced", "today", "that", "it", "has", "acquired", "privately", "-", "held", "STAR", "Solutions", ",", "Inc", ".", "(", "www.star-solutions.com", ")", "of", "San", "Diego", "in", "a", "transaction", "that", "almost", "doubles", "the", "Company", "'s", "annualized", "revenue", "and", "is", "expected", "to", "be", "immediately", "accretive", ".", "Chairman", "and", "CEO", ",", "Thomas", "P", ".", "Sweeney", ",", "said", "that", "the", "acquisition", "of", "STAR", "is", "a", "key", "first", "step", "in", "implementing", "the", "Company", "'s", "strategy", "to", "substantially", "grow", "revenues", "in", "its", "target", "markets", "by", "acquiring", "established", "direct", "sales", "and", "service", "organizations", ".", "STAR", "is", "a", "leading", "systems", "integrator", "that", "provides", "Information", "Technology", "(", "IT", ")", "products", ",", "professional", "services", "and", "outsourcing", "solutions", "to", "enterprise", "markets", "in", "the", "western", "United", "States", ".", "The", "purchase", "price", "for", "STAR", "consisted", "of", "$", "1.5 million", "in", "cash", ",", "approximately", "12", ".", "6", "million", "shares", "of", "unregistered", "Incentra", "common", "stock", ",", "and", "an", "unsecured", "promissory", "note", "for", "$", "2.5 million", ".", "Incentra", "acquired", "all", "of", "the", "outstanding", "shares", "of", "capital", "stock", "of", "STAR", ".", "At", "the", "time", "of", "the", "acquisition", ",", "STAR", "had", "$", "1.6", "million", "in", "cash", "and", "no", "outstanding", "debt", ".", "Financing", "for", "the", "acquisition", "was", "provided", "by", "Wells", "Fargo", "Bank", ",", "N", ".", "A", ".", "through", "a", "new", "$", "5 million", "commercial", "loan", "facility", ".", "The", "facility", "paid", "all", "costs", "of", "the", "acquisition", "and", "is", "expected", "to", "provide", "sufficient", "capacity", "to", "finance", "the", "growth", "of", "the", "business", "and", "subsequent", "acquisitions", ".", "The", "acquisition", "of", "STAR", "increases", "Incentra", "'s", "direct", "sales", "resources", "in", "the", "enterprise", "market", ",", "and", "will", "provide", "the", "Company", "direct", "access", "to", "customers", "for", "its", "unique", "monitoring", "and", "management", "services", ".", "The", "Company", "intends", "to", "introduce", "its", "GridWorks", "services", "this", "year", "to", "STAR", "'s", "customers", "and", "will", "introduce", "over", "time", "first", "call", "support", "services", "for", "all", "products", "sold", "by", "STAR", ".", "\"", "We", "expect", "to", "see", "increasing", "gross", "margins", "throughout", "the", "year", ",", "as", "well", "as", "increases", "in", "our", "monthly", "recurring", "revenues", "as", "a", "direct", "result", "of", "this", "acquisition", "\"", "Sweeney", "said", ".", "STAR", "provides", "IT", "consulting", ",", "systems", ",", "storage", "and", "outsourcing", "services", "to", "a", "large", "base", "of", "customers", "in", "financial", "services", ",", "hospitality", ",", "retail", ",", "security", "and", "manufacturing", "verticals", ".", "STAR", "revenues", "in", "2004", "amounted", "to", "approximately", "$", "17", "million", "which", "generated", "net", "income", ".", "\"", "STAR", "has", "an", "excellent", "management", "team", ",", "top", "flight", "personnel", "and", "an", "exceptional", "record", "of", "providing", "high", "quality", "IT", "solutions", "to", "its", "growing", "customer", "base", ",", "\"", "Sweeney", "said", ".", "\"", "The", "acquisition", "of", "STAR", "will", "significantly", "expand", "our", "ability", "to", "deliver", "complete", "storage", "solutions", ",", "including", "hardware", ",", "software", "and", "services", ",", "to", "a", "larger", "number", "of", "mid", "-", "sized", "enterprises", "\"", ".", "STAR", "will", "operate", "as", "a", "wholly", "-", "owned", "subsidiary", "of", "Incentra", "Solutions", "and", "be", "managed", "by", "STAR", "President", "Elaine", "A", ".", "Bellock", ".", "Ms", ".", "Bellock", "has", "been", "with", "STAR", "for", "the", "past", "five", "years", "and", "has", "been", "President", "since", "early", "2003", ",", "when", "she", "assumed", "the", "management", "of", "all", "day", "-", "to", "-", "day", "operations", "from", "the", "founder", "and", "principal", "owner", ".", "STAR", "'s", "45", "employees", "will", "continue", "to", "be", "based", "in", "San", "Diego", ",", "the", "San", "Francisco", "Bay", "Area", ",", "Los", "Angeles", ",", "Las", "Vegas", ",", "Phoenix", "and", "Delray", "Beach", ",", "FL", ".", "\"", "It", "had", "become", "increasingly", "clear", "to", "us", "over", "the", "last", "few", "years", "\"", ",", "Bellock", "said", ",", "\"", "that", "customers", "continue", "to", "experience", "changes", "in", "their", "IT", "environments", ",", "and", "those", "changes", "present", "an", "increased", "need", "for", "services", "to", "augment", "their", "existing", "staff", ".", "Partnering", "with", "Incentra", "Solutions", "enables", "STAR", "to", "now", "offer", "a", "broader", "set", "of", "services", "to", "our", "customers", ",", "which", "will", "create", "additional", "competitive", "advantages", "\"", ".", "Inveraray", "Partners", "headquartered", "in", "the", "San", "Francisco", "Bay", "Area", "advised", "Incentra", "Solutions", "on", "the", "acquisition", ".", "\"", "Mike", "Orbach", "and", "the", "team", "at", "Inveraray", "did", "a", "tremendous", "job", "from", "start", "to", "finish", "\"", ",", "Sweeney", "said", ".", "ABOUT", "STAR", "SOLUTIONS", ",", "INC", ".", "Systems", "Technology", "and", "Resources", "(", "STAR", "Solutions", ")", "is", "committed", "to", "providing", "clients", "with", "affordable", "and", "flexible", "Information", "Technology", "solutions", "to", "overcome", "the", "challenges", "found", "in", "today", "'s", "complex", "business", "environments", ".", "Established", "in", "1997", "with", "personnel", "in", "San", "Diego", ",", "Los", "Angeles", ",", "Las", "Vegas", ",", "Fort", "Lauderdale", ",", "San", "Francisco", "Bay", "Area", "and", "Phoenix", ",", "STAR", "Solutions", "expanded", "from", "a", "traditional", "Hardware", "/", "Software", "Solution", "Provider", "to", "a", "full", "-", "service", "Technology", "Consulting", "Company", "supporting", "clients", "nationwide", ".", "As", "Professional", "Development", "Specialists", ",", "STAR", "Solutions", "specializes", "in", "designing", ",", "building", ",", "implementing", "and", "knowledge", "transfer", "of", "technology", "solutions", "across", "the", "complete", "infrastructure", ".", "ABOUT", "INCENTRA", "SOLUTIONS", ",", "INC", ".", "Incentra", "Solutions", ",", "Inc", ".", "(", "OTCBB", ":", "ICEN", ")", "(", "WWW.INCENTRASOLUTIONS.COM", ")", ",", "is", "a", "provider", "of", "storage", "management", "solutions", "to", "broadcasters", ",", "enterprises", "and", "managed", "service", "providers", "worldwide", ".", "The", "Company", "operates", "a", "Broadcast", "&", "Media", "Division", ",", "Front", "Porch", "Digital", "(", "WWW.FPDIGITAL.COM", ")", ",", "that", "provides", "digital", "archive", "management", "and", "transcoding", "solutions", "and", "a", "wholly", "-", "owned", "subsidiary", ",", "ManagedStorage", "International", "(", "MSI", ",", "WWW.MSISERVICE.COM", ")", ",", "that", "provides", "storage", "management", "software", ",", "hardware", "and", "outsourcing", "services", "facilitated", "by", "its", "GridWorks", "online", "storage", "resource", "management", "product", ".", "INCENTRA", "SOLUTIONS", "FORWARD", "LOOKING", "STATEMENTS", "Certain", "information", "discussed", "in", "this", "press", "release", "may", "constitute", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", "and", "the", "federal", "securities", "laws", ".", "Although", "the", "Company", "believes", "that", "the", "expectations", "reflected", "in", "such", "forward", "-", "looking", "statements", "are", "based", "upon", "reasonable", "assumptions", "at", "the", "time", "made", ",", "it", "can", "give", "no", "assurance", "that", "its", "expectations", "will", "be", "achieved", ".", "Readers", "are", "cautioned", "not", "to", "place", "undue", "reliance", "on", "these", "forward", "-", "looking", "statements", ".", "Forward", "-", "looking", "statements", "are", "inherently", "subject", "to", "unpredictable", "and", "unanticipated", "risks", ",", "trends", "and", "uncertainties", "such", "as", "the", "Company", "'s", "inability", "to", "accurately", "forecast", "its", "operating", "results", ";", "the", "Company", "'s", "potential", "inability", "to", "achieve", "profitability", "or", "generate", "positive", "cash", "flow", ";", "the", "availability", "of", "financing", ";", "and", "other", "risks", "associated", "with", "the", "Company", "'s", "business", ".", "For", "further", "information", "on", "factors", "which", "could", "impact", "the", "Company", "and", "the", "statements", "contained", "herein", ",", "reference", "should", "be", "made", "to", "the", "Company", "'s", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", ",", "including", "Annual", "Reports", "on", "Form", "10", "-", "KSB", ",", "Quarterly", "Reports", "on", "Form", "10", "-", "QSB", "and", "Current", "Reports", "on", "Form", "8", "-", "K", ".", "The", "Company", "assumes", "no", "obligation", "to", "update", "or", "supplement", "forward", "-", "looking", "statements", "that", "become", "untrue", "because", "of", "subsequent", "events", ".", "#", "#", "#", "#" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Generic_Info.ANNUAL_REVENUES", "I-Generic_Info.ANNUAL_REVENUES", "I-Generic_Info.ANNUAL_REVENUES", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1498148-000116169717000387-exhibit_99-3
EX-99 5 exhibit_99-3.htm PRESS RELEASE, DATED AUGUST 31, 2017 Exhibit 99.3 OMVS Announces Completion of Robotic Assistance Devices Acquisition Reno NV, August 31, 2017 -- (MARKET WIRE) - On the Move Systems (OMVS: OTCPK) is pleased to announce that is has completed the 100% acquisition of Robotic Assistance Devices (RAD - www.roboticassistancedevices.com) (please refer to the 8K filed on www.sec.gov) "We are very excited to have completed the acquisition of RAD", said Garett Parsons, president and CEO of OMVS, "RAD is off to a great start and we believe it has tremendous potential for success". "I look forward to working together with OMVS and having the opportunity to build RAD into a major player in the robotic guard market", said Steve Reinharz, President and CEO of RAD, "We have made great progress to date and with the close of this acquisition we will be well positioned to accelerate our development and deliver significant growth milestones in the near future". RAD has commenced to deploy robots to end users. To date RAD has commitments for 62 robots for total contract values of approximately $6 million. RAD currently has signed agreements for 2 POC's with major companies. RAD currently has a sales pipeline of over 50 Fortune 500 companies and over 25 qualified dealers and distributors that have a combined customer base of more than 35,000 end user corporations. For further information please refer to www.sec.gov CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of On the Move Systems to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, and other risks. On the Move Systems undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in On the Move Systems expectations. Investor Relations: Everest Corporate Advisors Inc. Jack Thompson www.everestcorp.net 702-902-2361
[ "EX", "-", "99", "5", "exhibit", "_", "99", "-", "3", ".", "htm", "PRESS", "RELEASE", ",", "DATED", "AUGUST", "31", ",", "2017", "Exhibit", "99", ".", "3", "OMVS", "Announces", "Completion", "of", "Robotic", "Assistance", "Devices", "Acquisition", "Reno", "NV", ",", "August", "31", ",", "2017", "--", "(", "MARKET", "WIRE", ")", "-", "On", "the", "Move", "Systems", "(", "OMVS", ":", "OTCPK", ")", "is", "pleased", "to", "announce", "that", "is", "has", "completed", "the", "100", "%", "acquisition", "of", "Robotic", "Assistance", "Devices", "(", "RAD", "-", "www.roboticassistancedevices.com", ")", "(", "please", "refer", "to", "the", "8K", "filed", "on", "www.sec.gov", ")", "\"", "We", "are", "very", "excited", "to", "have", "completed", "the", "acquisition", "of", "RAD", "\"", ",", "said", "Garett", "Parsons", ",", "president", "and", "CEO", "of", "OMVS", ",", "\"", "RAD", "is", "off", "to", "a", "great", "start", "and", "we", "believe", "it", "has", "tremendous", "potential", "for", "success", "\"", ".", "\"", "I", "look", "forward", "to", "working", "together", "with", "OMVS", "and", "having", "the", "opportunity", "to", "build", "RAD", "into", "a", "major", "player", "in", "the", "robotic", "guard", "market", "\"", ",", "said", "Steve", "Reinharz", ",", "President", "and", "CEO", "of", "RAD", ",", "\"", "We", "have", "made", "great", "progress", "to", "date", "and", "with", "the", "close", "of", "this", "acquisition", "we", "will", "be", "well", "positioned", "to", "accelerate", "our", "development", "and", "deliver", "significant", "growth", "milestones", "in", "the", "near", "future", "\"", ".", "RAD", "has", "commenced", "to", "deploy", "robots", "to", "end", "users", ".", "To", "date", "RAD", "has", "commitments", "for", "62", "robots", "for", "total", "contract", "values", "of", "approximately", "$", "6 million", ".", "RAD", "currently", "has", "signed", "agreements", "for", "2", "POC", "'s", "with", "major", "companies", ".", "RAD", "currently", "has", "a", "sales", "pipeline", "of", "over", "50", "Fortune", "500", "companies", "and", "over", "25", "qualified", "dealers", "and", "distributors", "that", "have", "a", "combined", "customer", "base", "of", "more", "than", "35,000", "end", "user", "corporations", ".", "For", "further", "information", "please", "refer", "to", "www.sec.gov", "CAUTIONARY", "DISCLOSURE", "ABOUT", "FORWARD", "-", "LOOKING", "STATEMENTS", "This", "release", "contains", "\"", "forward", "-", "looking", "statements", "\"", "within", "the", "meaning", "of", "Section", "27A", "of", "the", "Securities", "Act", "of", "1933", ",", "as", "amended", ",", "and", "Section", "21E", "the", "Securities", "Exchange", "Act", "of", "1934", ",", "as", "amended", "and", "such", "forward", "-", "looking", "statements", "are", "made", "pursuant", "to", "the", "safe", "harbor", "provisions", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "Statements", "in", "this", "news", "release", "other", "than", "statements", "of", "historical", "fact", "are", "\"", "forward", "-", "looking", "statements", "\"", "that", "are", "based", "on", "current", "expectations", "and", "assumptions", ".", "Forward", "-", "looking", "statements", "involve", "risks", "and", "uncertainties", "that", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "expressed", "or", "implied", "by", "the", "statements", ",", "including", ",", "but", "not", "limited", "to", ",", "the", "following", ":", "the", "ability", "of", "On", "the", "Move", "Systems", "to", "provide", "for", "its", "obligations", ",", "to", "provide", "working", "capital", "needs", "from", "operating", "revenues", ",", "to", "obtain", "additional", "financing", "needed", "for", "any", "future", "acquisitions", ",", "to", "meet", "competitive", "challenges", "and", "technological", "changes", ",", "and", "other", "risks", ".", "On", "the", "Move", "Systems", "undertakes", "no", "duty", "to", "update", "any", "forward", "-", "looking", "statement", "(", "s", ")", "and", "/", "or", "to", "confirm", "the", "statement", "(", "s", ")", "to", "actual", "results", "or", "changes", "in", "On", "the", "Move", "Systems", "expectations", ".", "Investor", "Relations", ":", "Everest", "Corporate", "Advisors", "Inc", ".", "Jack", "Thompson", "www.everestcorp.net", "702", "-", "902", "-", "2361" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1562733-000149315215003939-ex99-1
EX-99.1 6 ex99-1.htm EMBARGOED FOR USE BEFORE Contact: After 9am (Eastern) Jack Ross, Chairman / CEO August 19, 2015 Synergy CHC Corp [email protected] 615-939-9004 Synergy CHC Corp Acquires Anti-Aging Business From Hand MD Corp® Westbrook, Maine, August 19, 2015 - Synergy CHC Corp (OTCQB: SNYR) a consumer health care company, today announced it has acquired a 50% ownership stake in Hand MD Corp and has secured the global exclusive sales, marketing & distribution rights for all channels for this innovative anti-aging hand care product line up contributed to Hand MD Corp. by Hand MD, LLC. Under the terms of the agreement, Synergy will pay Hand MD Corp consideration of US$1,500,000 in Synergy CHC stock at $0.70 per share. It will also pay minimum yearly royalty payments in year two of $250,000 and minimum yearly royalty payments of $500,000 in year three. Minimum royalty payments to Hand MD Corp are due quarterly starting in year two. There are no further minimum commitments due on royalties other than year two and three. Royalty payments are calculated based on 5% of net sales. "HAND MD, LLC is thrilled to partner with Synergy", says co-founder Kara Harshbarger. "Thanks to advancements in anti-aging, our face no longer reveals our true age but our hands do. Hand MD is clinically proven to rejuvenate aging hands and through our collaboration with Synergy, we are bringing the ultimate hand solution to the forefront of the marketplace". "We are pleased to add another unique offering to our portfolio; it is consistent with the company's strategy to grow by further acquisition. We are deliberately seeking to generate shareholder value through the addition of products that help improve the lives of customers while leveraging our existing distribution relationships. We will continue to be active on the acquisition trail" said Jack Ross, President and CEO of Synergy. About Hand MD® Hand MD is the world's first anti-aging skincare line formulated specifically for the hands. Hands reveal a woman's true age and the rejuvenation of the hand has become women's #1 aging concern. Developed by Kara Harshbarger and renowned celebrity dermatologist Dr. Alex Khadavi, Hand MD's extensive clinical trials show significant improvement in the appearance of fine lines and wrinkles, skin hydration, hyper-pigmentation and radiance. HAND MD launched on QVC and sold out in an astonishing 5 minutes. www.hand-md.com About Synergy CHC Corp. Synergy CHC Corp. is a Consumer Health Care Company that is in the process of building a portfolio of best-in-class consumer product brands. Synergy's strategy is to grow its portfolio both organically and by further acquisition. www.synergychc.com About FOCUSfactor® "Another Synergy Brand" FOCUSfactor is sold at America's leading retailers such as Costco, Sam's Club, Wal-Mart, BJ's Walgreens and The Vitamin Shoppe. FOCUSfactor, America's leading brain health supplement, is a nutritional supplement that includes a proprietary blend of brain supporting vitamins, minerals, antioxidants and other nutrients. In December 2012, the United States Patent and Trademark Office issued US Patent 8,329,227 covering FOCUSfactor's proprietary formulation "for enhanced mental function". The issuance of the patent marked one of the few times a patent has been issued for a nationally branded nutritional supplement. FOCUSfactor is clinically tested with results demonstrating improvements in focus, concentration and memory in healthy adults. www.focusfactor.com About Neuragen® "Another Synergy Brand" Neuragen® is a topical product that works directly at the site of the pain as opposed to oral products. Neuragen® reduces the spontaneous firing of damaged peripheral nerves. By calming these firings at the source, Neuragen® is clinically shown to reduce shooting and burning pains quickly and without the side effects of orally taken medications. This is in part due to the small lipophilic molecules found in Neuragen® which rapidly carry the active ingredients through the rough outer layer of the skin to the site of the pain. Neuragen® is available over the counter in most local pharmacies either in the diabetic section or the analgesic (pain) section. For more information, please visit www.neuragen.com . Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. All statements, other than statements of historical facts, regarding management's expectations, beliefs, goals, plans or Synergy's prospects should be considered forward-looking. Readers are cautioned that actual results may differ materially from projections or estimates due to a variety of important factors, including: Synergy's ability to integrate the Hand MD ® product line into its current operations; Synergy's dependence on third parties for its research and development, manufacturing and distribution functions; Synergy's' dependence on its license relationships; the risks and uncertainties associated with Synergy's ability to manage its limited cash resources; obtaining additional financing to support Synergy's operations; protecting the intellectual property developed by or licensed to Synergy for Hand MD ® ; and Synergy's ability to build its operations to support its business strategy and promote its products. These and other risks are described in greater detail in Synergy's filings with the SEC, copies of which are available free of charge at the SEC's website ( www.sec.gov ) or upon request from Synergy. Synergy may not actually achieve the goals or plans described in its forward-looking statements, and investors should not place undue reliance on these statements. Synergy assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
[ "EX", "-", "99", ".", "1", "6", "ex99", "-", "1", ".", "htm", "EMBARGOED", "FOR", "USE", "BEFORE", "Contact", ":", "After", "9", "am", "(", "Eastern", ")", "Jack", "Ross", ",", "Chairman", "/", "CEO", "August", "19", ",", "2015", "Synergy", "CHC", "Corp", "[email protected]", "615", "-", "939", "-", "9004", "Synergy", "CHC", "Corp", "Acquires", "Anti", "-", "Aging", "Business", "From", "Hand", "MD", "Corp", "®", "Westbrook", ",", "Maine", ",", "August", "19", ",", "2015", "-", "Synergy", "CHC", "Corp", "(", "OTCQB", ":", "SNYR", ")", "a", "consumer", "health", "care", "company", ",", "today", "announced", "it", "has", "acquired", "a", "50", "%", "ownership", "stake", "in", "Hand", "MD", "Corp", "and", "has", "secured", "the", "global", "exclusive", "sales", ",", "marketing", "&", "distribution", "rights", "for", "all", "channels", "for", "this", "innovative", "anti", "-", "aging", "hand", "care", "product", "line", "up", "contributed", "to", "Hand", "MD", "Corp", ".", "by", "Hand", "MD", ",", "LLC", ".", "Under", "the", "terms", "of", "the", "agreement", ",", "Synergy", "will", "pay", "Hand", "MD", "Corp", "consideration", "of", "US$", "1,500,000", "in", "Synergy", "CHC", "stock", "at", "$", "0.70", "per", "share", ".", "It", "will", "also", "pay", "minimum", "yearly", "royalty", "payments", "in", "year", "two", "of", "$", "250,000", "and", "minimum", "yearly", "royalty", "payments", "of", "$", "500,000", "in", "year", "three", ".", "Minimum", "royalty", "payments", "to", "Hand", "MD", "Corp", "are", "due", "quarterly", "starting", "in", "year", "two", ".", "There", "are", "no", "further", "minimum", "commitments", "due", "on", "royalties", "other", "than", "year", "two", "and", "three", ".", "Royalty", "payments", "are", "calculated", "based", "on", "5", "%", "of", "net", "sales", ".", "\"", "HAND", "MD", ",", "LLC", "is", "thrilled", "to", "partner", "with", "Synergy", "\"", ",", "says", "co", "-", "founder", "Kara", "Harshbarger", ".", "\"", "Thanks", "to", "advancements", "in", "anti", "-", "aging", ",", "our", "face", "no", "longer", "reveals", "our", "true", "age", "but", "our", "hands", "do", ".", "Hand", "MD", "is", "clinically", "proven", "to", "rejuvenate", "aging", "hands", "and", "through", "our", "collaboration", "with", "Synergy", ",", "we", "are", "bringing", "the", "ultimate", "hand", "solution", "to", "the", "forefront", "of", "the", "marketplace", "\"", ".", "\"", "We", "are", "pleased", "to", "add", "another", "unique", "offering", "to", "our", "portfolio", ";", "it", "is", "consistent", "with", "the", "company", "'s", "strategy", "to", "grow", "by", "further", "acquisition", ".", "We", "are", "deliberately", "seeking", "to", "generate", "shareholder", "value", "through", "the", "addition", "of", "products", "that", "help", "improve", "the", "lives", "of", "customers", "while", "leveraging", "our", "existing", "distribution", "relationships", ".", "We", "will", "continue", "to", "be", "active", "on", "the", "acquisition", "trail", "\"", "said", "Jack", "Ross", ",", "President", "and", "CEO", "of", "Synergy", ".", "About", "Hand", "MD", "®", "Hand", "MD", "is", "the", "world", "'s", "first", "anti", "-", "aging", "skincare", "line", "formulated", "specifically", "for", "the", "hands", ".", "Hands", "reveal", "a", "woman", "'", "s", "true", "age", "and", "the", "rejuvenation", "of", "the", "hand", "has", "become", "women", "'s", "#", "1", "aging", "concern", ".", "Developed", "by", "Kara", "Harshbarger", "and", "renowned", "celebrity", "dermatologist", "Dr", ".", "Alex", "Khadavi", ",", "Hand", "MD", "'s", "extensive", "clinical", "trials", "show", "significant", "improvement", "in", "the", "appearance", "of", "fine", "lines", "and", "wrinkles", ",", "skin", "hydration", ",", "hyper", "-", "pigmentation", "and", "radiance", ".", "HAND", "MD", "launched", "on", "QVC", "and", "sold", "out", "in", "an", "astonishing", "5", "minutes", ".", "www.hand-md.com", "About", "Synergy", "CHC", "Corp", ".", "Synergy", "CHC", "Corp", ".", "is", "a", "Consumer", "Health", "Care", "Company", "that", "is", "in", "the", "process", "of", "building", "a", "portfolio", "of", "best", "-", "in", "-", "class", "consumer", "product", "brands", ".", "Synergy", "'s", "strategy", "is", "to", "grow", "its", "portfolio", "both", "organically", "and", "by", "further", "acquisition", ".", "www.synergychc.com", "About", "FOCUSfactor", "®", "\"", "Another", "Synergy", "Brand", "\"", "FOCUSfactor", "is", "sold", "at", "America", "'s", "leading", "retailers", "such", "as", "Costco", ",", "Sam", "'", "s", "Club", ",", "Wal", "-", "Mart", ",", "BJ", "'s", "Walgreens", "and", "The", "Vitamin", "Shoppe", ".", "FOCUSfactor", ",", "America", "'s", "leading", "brain", "health", "supplement", ",", "is", "a", "nutritional", "supplement", "that", "includes", "a", "proprietary", "blend", "of", "brain", "supporting", "vitamins", ",", "minerals", ",", "antioxidants", "and", "other", "nutrients", ".", "In", "December", "2012", ",", "the", "United", "States", "Patent", "and", "Trademark", "Office", "issued", "US", "Patent", "8,329,227", "covering", "FOCUSfactor", "'s", "proprietary", "formulation", "\"", "for", "enhanced", "mental", "function", "\"", ".", "The", "issuance", "of", "the", "patent", "marked", "one", "of", "the", "few", "times", "a", "patent", "has", "been", "issued", "for", "a", "nationally", "branded", "nutritional", "supplement", ".", "FOCUSfactor", "is", "clinically", "tested", "with", "results", "demonstrating", "improvements", "in", "focus", ",", "concentration", "and", "memory", "in", "healthy", "adults", ".", "www.focusfactor.com", "About", "Neuragen", "®", "\"", "Another", "Synergy", "Brand", "\"", "Neuragen", "®", "is", "a", "topical", "product", "that", "works", "directly", "at", "the", "site", "of", "the", "pain", "as", "opposed", "to", "oral", "products", ".", "Neuragen", "®", "reduces", "the", "spontaneous", "firing", "of", "damaged", "peripheral", "nerves", ".", "By", "calming", "these", "firings", "at", "the", "source", ",", "Neuragen", "®", "is", "clinically", "shown", "to", "reduce", "shooting", "and", "burning", "pains", "quickly", "and", "without", "the", "side", "effects", "of", "orally", "taken", "medications", ".", "This", "is", "in", "part", "due", "to", "the", "small", "lipophilic", "molecules", "found", "in", "Neuragen", "®", "which", "rapidly", "carry", "the", "active", "ingredients", "through", "the", "rough", "outer", "layer", "of", "the", "skin", "to", "the", "site", "of", "the", "pain", ".", "Neuragen", "®", "is", "available", "over", "the", "counter", "in", "most", "local", "pharmacies", "either", "in", "the", "diabetic", "section", "or", "the", "analgesic", "(", "pain", ")", "section", ".", "For", "more", "information", ",", "please", "visit", "www.neuragen.com", ".", "Forward", "-", "Looking", "Statements", "This", "press", "release", "contains", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", "that", "are", "subject", "to", "risks", "and", "uncertainties", ".", "All", "statements", ",", "other", "than", "statements", "of", "historical", "facts", ",", "regarding", "management", "'s", "expectations", ",", "beliefs", ",", "goals", ",", "plans", "or", "Synergy", "'s", "prospects", "should", "be", "considered", "forward", "-", "looking", ".", "Readers", "are", "cautioned", "that", "actual", "results", "may", "differ", "materially", "from", "projections", "or", "estimates", "due", "to", "a", "variety", "of", "important", "factors", ",", "including", ":", "Synergy", "'s", "ability", "to", "integrate", "the", "Hand", "MD", "®", "product", "line", "into", "its", "current", "operations", ";", "Synergy", "'s", "dependence", "on", "third", "parties", "for", "its", "research", "and", "development", ",", "manufacturing", "and", "distribution", "functions", ";", "Synergy", "'s", "'", "dependence", "on", "its", "license", "relationships", ";", "the", "risks", "and", "uncertainties", "associated", "with", "Synergy", "'s", "ability", "to", "manage", "its", "limited", "cash", "resources", ";", "obtaining", "additional", "financing", "to", "support", "Synergy", "'s", "operations", ";", "protecting", "the", "intellectual", "property", "developed", "by", "or", "licensed", "to", "Synergy", "for", "Hand", "MD", "®", ";", "and", "Synergy", "'s", "ability", "to", "build", "its", "operations", "to", "support", "its", "business", "strategy", "and", "promote", "its", "products", ".", "These", "and", "other", "risks", "are", "described", "in", "greater", "detail", "in", "Synergy", "'s", "filings", "with", "the", "SEC", ",", "copies", "of", "which", "are", "available", "free", "of", "charge", "at", "the", "SEC", "'s", "website", "(", "www.sec.gov", ")", "or", "upon", "request", "from", "Synergy", ".", "Synergy", "may", "not", "actually", "achieve", "the", "goals", "or", "plans", "described", "in", "its", "forward", "-", "looking", "statements", ",", "and", "investors", "should", "not", "place", "undue", "reliance", "on", "these", "statements", ".", "Synergy", "assumes", "no", "obligation", "and", "does", "not", "intend", "to", "update", "these", "forward", "-", "looking", "statements", ",", "except", "as", "required", "by", "law", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
882104-000088210420000154-a202009098-kex991
EX-99.1 2 a202009098-kex991.htm PRESS RELEASE Document Exhibit 99.1 Contact: Jody Cain LHA Investor Relations 310-691-7100 [email protected] PDL BioPharma Completes Divestiture of the Noden Pharmaceutical Business to Stanley Capital INCLINE VILLAGE, Nev. (September 9, 2020) - PDL BioPharma, Inc. ("PDL" or the "Company") (Nasdaq: PDLI) announces the closing of the sale of its wholly owned subsidiaries Noden Pharma DAC and Noden Pharma USA (collectively "Noden") to Stanley Capital. The total value of the transaction will result in payments to PDL of up to $52.83 million in cash, $4.58 million greater than previously announced. "After running an extensive process, we are excited about closing this transaction with Stanley Capital", commented PDL's President and CEO Dominique Monnet. "It represents the completion of a key divestiture for PDL and an exciting opportunity for the Noden team". Payments to PDL, in connection with the closing of the transaction, are $12.72 million. The agreement provides for an additional $33 million to be paid to PDL in 12 equal quarterly installments from January 2021 to October 2023 and two potential contingent payments totaling $3.25 million. There is an additional $3.86 million to be paid to PDL in four equal quarterly installments from January 2023 to October 2023, primarily due to the incremental cash accumulated in the business since July 31, 2020. Together with their advisors, Torreya and SVB Leerink, PDL's board of directors and management team evaluated a number of potential transactions to maximize stockholder value for Noden. Torreya was retained by PDL to explore potential strategic transactions and assist in the disposition of Noden, while SVB Leerink has been engaged by PDL to advise on overall liquidation and distribution strategies. In addition to the cash proceeds from the sale to Stanley Capital, PDL believes that this transaction may qualify for some Federal tax benefit under the CARES Act. In connection with its monetization process, PDL expects to execute transactions in 2020 that may result in the recognition of ordinary tax losses that, under the CARES Act, could be applied to prior tax years in which PDL was a substantial tax payor. At this time, however, there can be no assurance that such tax benefits will be realized. About Noden Noden Pharma DAC is a global specialty pharmaceutical company that is focused on acquiring prescription medicines across a range of therapeutic areas. Noden Pharma DAC holds exclusive worldwide rights to manufacture, market and sell Tekturna® and Tekturna HCT® (or Rasilez® and Rasilez HTC® outside of the United States), which contain aliskiren, a direct renin inhibitor, for the treatment of hypertension. In March 2019, Noden announced the U.S commercial launch of an authorized generic form of Tekturna, aliskiren hemifumarate 150 mg and 300 mg tablets with the same drug formulation as Tekturna. Noden Pharma DAC is headquartered in Dublin, Ireland and Noden Pharma USA Inc. is incorporated in Delaware. For more information on Noden Pharma DAC please visit www.nodenpharma.com. About Stanley Capital Stanley Capital is a private equity partnership pursuing repeatable relative value and thematic investment strategies in technology, healthcare, and sustainability, targeting businesses with Enterprise Values of $250mn to $2.5bn. Stanley Capital is focused on high-quality platform companies in resilient and growth subsectors, identified through deep sector research and operating networks, working with management teams to transform investments through enabling growth and market consolidation The partnership was founded in London in 2019 by Simon Cottle, James Brooks and Patrick Hargutt and is supported by a broad team of operating partners to assist with value creation execution. For more information please visit https://stanley-capital.com/ About PDL BioPharma, Inc. Throughout its history, PDL's mission has been to improve the lives of patients by aiding in the successful development of innovative therapeutics and healthcare technologies. PDL BioPharma was founded in 1986 as Protein Design Labs, Inc. when it pioneered the humanization of monoclonal antibodies, enabling the discovery of a new generation of targeted treatments that have had a profound impact on patients living with different cancers as well as a variety of other debilitating diseases. In 2006, the Company changed its name to PDL BioPharma, Inc. As of December 2019, PDL ceased making additional strategic transactions and investments and is pursuing a formal process to unlock the value of its portfolio by monetizing its assets and ultimately distributing net proceeds to stockholders in the form of cash or equity. For more information please visit https://www.pdl.com/ NOTE: PDL, PDL BioPharma, the PDL logo and associated logos and the PDL BioPharma logo are trademarks or registered trademarks of, and are proprietary to, PDL BioPharma, Inc. which reserves all rights therein. Forward-looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including as it relates to the Company's proposed plan of complete liquidation, proposed dissolution or transactions thereunder. Each of these forward-looking statements involves risks and uncertainties. Actual results may differ materially from those, express or implied, in these forward-looking statements. Important factors that could impair the value of the Company's assets and business, including the implementation or success of the Company's monetization strategy/plan of complete liquidation and proposed dissolution, are disclosed in the risk factors contained in the Company's Annual Report on Form 10-K filed with the SEC on March 11, 2020 and Quarterly Reports on Form 10-Q, filed with the SEC on May 11, 2020 and August 20, 2020, and subsequent filings. All forward-looking statements are expressly qualified in their entirety by such factors. The Company does not undertake any duty to update any forward-looking statement except as required by law.
[ "EX", "-", "99", ".", "1", "2", "a202009098", "-", "kex991", ".", "htm", "PRESS", "RELEASE", "Document", "Exhibit", "99", ".", "1", "Contact", ":", "Jody", "Cain", "LHA", "Investor", "Relations", "310", "-", "691", "-", "7100", "[email protected]", "PDL", "BioPharma", "Completes", "Divestiture", "of", "the", "Noden", "Pharmaceutical", "Business", "to", "Stanley", "Capital", "INCLINE", "VILLAGE", ",", "Nev", ".", "(", "September", "9", ",", "2020", ")", "-", "PDL", "BioPharma", ",", "Inc", ".", "(", "\"", "PDL", "\"", "or", "the", "\"", "Company", "\"", ")", "(", "Nasdaq", ":", "PDLI", ")", "announces", "the", "closing", "of", "the", "sale", "of", "its", "wholly", "owned", "subsidiaries", "Noden", "Pharma", "DAC", "and", "Noden", "Pharma", "USA", "(", "collectively", "\"", "Noden", "\"", ")", "to", "Stanley", "Capital", ".", "The", "total", "value", "of", "the", "transaction", "will", "result", "in", "payments", "to", "PDL", "of", "up", "to", "$", "52.83 million", "in", "cash", ",", "$", "4.58 million", "greater", "than", "previously", "announced", ".", "\"", "After", "running", "an", "extensive", "process", ",", "we", "are", "excited", "about", "closing", "this", "transaction", "with", "Stanley", "Capital", "\"", ",", "commented", "PDL", "'s", "President", "and", "CEO", "Dominique", "Monnet", ".", "\"", "It", "represents", "the", "completion", "of", "a", "key", "divestiture", "for", "PDL", "and", "an", "exciting", "opportunity", "for", "the", "Noden", "team", "\"", ".", "Payments", "to", "PDL", ",", "in", "connection", "with", "the", "closing", "of", "the", "transaction", ",", "are", "$", "12.72 million", ".", "The", "agreement", "provides", "for", "an", "additional", "$", "33 million", "to", "be", "paid", "to", "PDL", "in", "12", "equal", "quarterly", "installments", "from", "January", "2021", "to", "October", "2023", "and", "two", "potential", "contingent", "payments", "totaling", "$", "3.25 million", ".", "There", "is", "an", "additional", "$", "3.86 million", "to", "be", "paid", "to", "PDL", "in", "four", "equal", "quarterly", "installments", "from", "January", "2023", "to", "October", "2023", ",", "primarily", "due", "to", "the", "incremental", "cash", "accumulated", "in", "the", "business", "since", "July", "31", ",", "2020", ".", "Together", "with", "their", "advisors", ",", "Torreya", "and", "SVB", "Leerink", ",", "PDL", "'s", "board", "of", "directors", "and", "management", "team", "evaluated", "a", "number", "of", "potential", "transactions", "to", "maximize", "stockholder", "value", "for", "Noden", ".", "Torreya", "was", "retained", "by", "PDL", "to", "explore", "potential", "strategic", "transactions", "and", "assist", "in", "the", "disposition", "of", "Noden", ",", "while", "SVB", "Leerink", "has", "been", "engaged", "by", "PDL", "to", "advise", "on", "overall", "liquidation", "and", "distribution", "strategies", ".", "In", "addition", "to", "the", "cash", "proceeds", "from", "the", "sale", "to", "Stanley", "Capital", ",", "PDL", "believes", "that", "this", "transaction", "may", "qualify", "for", "some", "Federal", "tax", "benefit", "under", "the", "CARES", "Act", ".", "In", "connection", "with", "its", "monetization", "process", ",", "PDL", "expects", "to", "execute", "transactions", "in", "2020", "that", "may", "result", "in", "the", "recognition", "of", "ordinary", "tax", "losses", "that", ",", "under", "the", "CARES", "Act", ",", "could", "be", "applied", "to", "prior", "tax", "years", "in", "which", "PDL", "was", "a", "substantial", "tax", "payor", ".", "At", "this", "time", ",", "however", ",", "there", "can", "be", "no", "assurance", "that", "such", "tax", "benefits", "will", "be", "realized", ".", "About", "Noden", "Noden", "Pharma", "DAC", "is", "a", "global", "specialty", "pharmaceutical", "company", "that", "is", "focused", "on", "acquiring", "prescription", "medicines", "across", "a", "range", "of", "therapeutic", "areas", ".", "Noden", "Pharma", "DAC", "holds", "exclusive", "worldwide", "rights", "to", "manufacture", ",", "market", "and", "sell", "Tekturna", "®", "and", "Tekturna", "HCT", "®", "(", "or", "Rasilez", "®", "and", "Rasilez", "HTC", "®", "outside", "of", "the", "United", "States", ")", ",", "which", "contain", "aliskiren", ",", "a", "direct", "renin", "inhibitor", ",", "for", "the", "treatment", "of", "hypertension", ".", "In", "March", "2019", ",", "Noden", "announced", "the", "U", ".", "S", "commercial", "launch", "of", "an", "authorized", "generic", "form", "of", "Tekturna", ",", "aliskiren", "hemi", "fumarate", "150", "mg", "and", "300", "mg", "tablets", "with", "the", "same", "drug", "formulation", "as", "Tekturna", ".", "Noden", "Pharma", "DAC", "is", "headquartered", "in", "Dublin", ",", "Ireland", "and", "Noden", "Pharma", "USA", "Inc", ".", "is", "incorporated", "in", "Delaware", ".", "For", "more", "information", "on", "Noden", "Pharma", "DAC", "please", "visit", "www.nodenpharma.com", ".", "About", "Stanley", "Capital", "Stanley", "Capital", "is", "a", "private", "equity", "partnership", "pursuing", "repeatable", "relative", "value", "and", "thematic", "investment", "strategies", "in", "technology", ",", "healthcare", ",", "and", "sustainability", ",", "targeting", "businesses", "with", "Enterprise", "Values", "of", "$", "250mn", "to", "$", "2.5bn", ".", "Stanley", "Capital", "is", "focused", "on", "high", "-", "quality", "platform", "companies", "in", "resilient", "and", "growth", "subsectors", ",", "identified", "through", "deep", "sector", "research", "and", "operating", "networks", ",", "working", "with", "management", "teams", "to", "transform", "investments", "through", "enabling", "growth", "and", "market", "consolidation", "The", "partnership", "was", "founded", "in", "London", "in", "2019", "by", "Simon", "Cottle", ",", "James", "Brooks", "and", "Patrick", "Hargutt", "and", "is", "supported", "by", "a", "broad", "team", "of", "operating", "partners", "to", "assist", "with", "value", "creation", "execution", ".", "For", "more", "information", "please", "visit", "https://stanley-capital.com/", "About", "PDL", "BioPharma", ",", "Inc", ".", "Throughout", "its", "history", ",", "PDL", "'s", "mission", "has", "been", "to", "improve", "the", "lives", "of", "patients", "by", "aiding", "in", "the", "successful", "development", "of", "innovative", "therapeutics", "and", "healthcare", "technologies", ".", "PDL", "BioPharma", "was", "founded", "in", "1986", "as", "Protein", "Design", "Labs", ",", "Inc", ".", "when", "it", "pioneered", "the", "humanization", "of", "monoclonal", "antibodies", ",", "enabling", "the", "discovery", "of", "a", "new", "generation", "of", "targeted", "treatments", "that", "have", "had", "a", "profound", "impact", "on", "patients", "living", "with", "different", "cancers", "as", "well", "as", "a", "variety", "of", "other", "debilitating", "diseases", ".", "In", "2006", ",", "the", "Company", "changed", "its", "name", "to", "PDL", "BioPharma", ",", "Inc", ".", "As", "of", "December", "2019", ",", "PDL", "ceased", "making", "additional", "strategic", "transactions", "and", "investments", "and", "is", "pursuing", "a", "formal", "process", "to", "unlock", "the", "value", "of", "its", "portfolio", "by", "monetizing", "its", "assets", "and", "ultimately", "distributing", "net", "proceeds", "to", "stockholders", "in", "the", "form", "of", "cash", "or", "equity", ".", "For", "more", "information", "please", "visit", "https://www.pdl.com/", "NOTE", ":", "PDL", ",", "PDL", "BioPharma", ",", "the", "PDL", "logo", "and", "associated", "logos", "and", "the", "PDL", "BioPharma", "logo", "are", "trademarks", "or", "registered", "trademarks", "of", ",", "and", "are", "proprietary", "to", ",", "PDL", "BioPharma", ",", "Inc", ".", "which", "reserves", "all", "rights", "therein", ".", "Forward", "-", "looking", "Statements", "This", "press", "release", "contains", "\"", "forward", "-", "looking", "statements", "\"", "within", "the", "meaning", "of", "Section", "27A", "of", "the", "Securities", "Act", "of", "1933", ",", "as", "amended", ",", "and", "Section", "21E", "of", "the", "Securities", "Exchange", "Act", "of", "1934", ",", "as", "amended", ",", "including", "as", "it", "relates", "to", "the", "Company", "'s", "proposed", "plan", "of", "complete", "liquidation", ",", "proposed", "dissolution", "or", "transactions", "thereunder", ".", "Each", "of", "these", "forward", "-", "looking", "statements", "involves", "risks", "and", "uncertainties", ".", "Actual", "results", "may", "differ", "materially", "from", "those", ",", "express", "or", "implied", ",", "in", "these", "forward", "-", "looking", "statements", ".", "Important", "factors", "that", "could", "impair", "the", "value", "of", "the", "Company", "'s", "assets", "and", "business", ",", "including", "the", "implementation", "or", "success", "of", "the", "Company", "'s", "monetization", "strategy", "/", "plan", "of", "complete", "liquidation", "and", "proposed", "dissolution", ",", "are", "disclosed", "in", "the", "risk", "factors", "contained", "in", "the", "Company", "'s", "Annual", "Report", "on", "Form", "10", "-", "K", "filed", "with", "the", "SEC", "on", "March", "11", ",", "2020", "and", "Quarterly", "Reports", "on", "Form", "10", "-", "Q", ",", "filed", "with", "the", "SEC", "on", "May", "11", ",", "2020", "and", "August", "20", ",", "2020", ",", "and", "subsequent", "filings", ".", "All", "forward", "-", "looking", "statements", "are", "expressly", "qualified", "in", "their", "entirety", "by", "such", "factors", ".", "The", "Company", "does", "not", "undertake", "any", "duty", "to", "update", "any", "forward", "-", "looking", "statement", "except", "as", "required", "by", "law", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "B-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1127371-000110262408000319-centralvalleycommun
EX-99 2 centralvalleycommun.htm CENTRAL VALLEY COMMUNITY BANCORP PRESS RELEASE Central Valley Community Bancorp Successfully Completes Acquisition of Service 1st Bancorp Representing California's First Acquisition of a Community Bank by a Community Bank in 2008 FRESNO, CA -- 11/12/2008 -- Central Valley Community Bancorp (Company) (NASDAQ: CVCY), the parent company of Central Valley Community Bank (Bank), announced today the completion of the acquisition of Service 1st Bancorp (OTCBB: SVCF) and Service 1st Bank effective after close of business, November 12, 2008. Central Valley Community Bancorp and Central Valley Community Bank directors and management team, led by Daniel J. Doyle, president and CEO, will continue to lead the combined team of professional bankers. Effective Monday, November 17, 2008, Service 1st Bank offices in Stockton, Lodi and Tracy will convert all operational systems and physical signage to Central Valley Community Bank. Central Valley Community Bancorp reported assets at September 30, 2008 of $524,636,000 and Service 1st Bancorp's assets were $233,576,000 at the end of the same period. If the transaction had closed on September 30, 2008, the estimated total combined assets for Central Valley Community Bancorp would have been approximately $760,000,000. The Company projects the acquisition of Service 1st Bancorp and Service 1st Bank to be accretive to earnings in the first year of the combined operations. This transaction is the second acquisition for Central Valley Community Bancorp, which acquired Bank of Madera County on January 1, 2005. Service 1st Bank was established in 1999 as a full-service commercial bank headquartered in Stockton, California with additional offices in Lodi and Tracy, California. Its principal focus has been to serve the business banking needs of local businesses, professionals and individuals in San Joaquin County. "The acquisition of Service 1st Bank with offices in Stockton, Lodi and Tracy allows Central Valley Community Bank to fulfill strategic initiatives to bridge the Bank's branching gap between existing offices in Sacramento and Madera. It will also enhance the Bank's future performance with the addition of outstanding new employees whose loyal customers in this region value the same excellent quality service standards and community advocacy as our Bank", stated Daniel J. Doyle, president and CEO of Central Valley Community Bancorp and Central Valley Community Bank. "We are proud of our 29-year history of unchanging values and the solid financial performance, which is demonstrated by our Company being California's first community bank to acquire another community bank in 2008. That financial strength has also allowed the Bank to successfully complete this acquisition during one of the most unique economic and politically charged environments our country has ever seen. Through this opportunity, we will be able to offer new advancement and geographic employment for our new and existing employees, and deeper lending resources to nurture local businesses within a larger service area of 15 offices covering 11 different communities throughout the Valley", concluded Doyle. Central Valley Community Bancorp trades on the NASDAQ stock exchange under the symbol CVCY. Central Valley Community Bank, headquartered in Fresno, California, was founded in 1979 and is the sole subsidiary of Central Valley Community Bancorp. Central Valley Community Bank currently operates 15 offices in Clovis, Fresno, Kerman, Lodi, Madera, Oakhurst, Prather, Sacramento, Stockton, Tracy and a loan production office in Modesto. Additionally, the Bank operates Commercial Real Estate Lending, SBA Lending and Agribusiness Lending Departments. Investment services are provided by Investment Centers of America. Members of Central Valley Community Bancorp's and the Bank's Board of Directors are: Daniel N. Cunningham (Chairman), Sidney B. Cox, Edwin S. Darden, Jr., Daniel J. Doyle, Steven D. McDonald, Louis McMurray, Wanda L. Rogers, William S. Smittcamp, and Joseph B. Weirick. More information about Central Valley Community Bancorp and Central Valley Community Bank can be found at www.cvcb.com. Central Valley Community Bancorp received a fairness opinion from Keefe, Bruyette and Woods, Inc. and Downey Brand LLP served as legal advisor. Service 1st Bancorp's financial advisor was Sandler O'Neill and Partners, L.P. and its legal counsel was Dodd Mason George LLP. Forward-looking Statements -- Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained herein that are not historical facts, such as statements regarding the Company's current business strategy and the Company's plans for future development and operations, are based upon current expectations. These statements are forward-looking in nature and involve a number of risks and uncertainties. Such risks and uncertainties include, but are not limited to (1) significant increases in competitive pressure in the banking industry; (2) the impact of changes in interest rates, a decline in economic conditions at the international, national or local level on the Company's results of operations, the Company's ability to continue its internal growth at historical rates, the Company's ability to maintain its net interest margin, and the quality of the Company's earning assets; (3) changes in the regulatory environment; (4) fluctuations in the real estate market; (5) changes in business conditions and inflation; (6) changes in securities markets; and (7) the other risks set forth in the Company's reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2007. Therefore, the information set forth in such forward-looking statements should be carefully considered when evaluating the business prospects of the Company. CONTACT: Debbie Nalchajian-Cohen Office: (559) 222-1322 Cell: (559) 281-1312
[ "EX", "-", "99", "2", "centralvalleycommun", ".", "htm", "CENTRAL", "VALLEY", "COMMUNITY", "BANCORP", "PRESS", "RELEASE", "Central", "Valley", "Community", "Bancorp", "Successfully", "Completes", "Acquisition", "of", "Service", "1st", "Bancorp", "Representing", "California", "'s", "First", "Acquisition", "of", "a", "Community", "Bank", "by", "a", "Community", "Bank", "in", "2008", "FRESNO", ",", "CA", "--", "11", "/", "12", "/", "2008", "--", "Central", "Valley", "Community", "Bancorp", "(", "Company", ")", "(", "NASDAQ", ":", "CVCY", ")", ",", "the", "parent", "company", "of", "Central", "Valley", "Community", "Bank", "(", "Bank", ")", ",", "announced", "today", "the", "completion", "of", "the", "acquisition", "of", "Service", "1st", "Bancorp", "(", "OTCBB", ":", "SVCF", ")", "and", "Service", "1st", "Bank", "effective", "after", "close", "of", "business", ",", "November", "12", ",", "2008", ".", "Central", "Valley", "Community", "Bancorp", "and", "Central", "Valley", "Community", "Bank", "directors", "and", "management", "team", ",", "led", "by", "Daniel", "J", ".", "Doyle", ",", "president", "and", "CEO", ",", "will", "continue", "to", "lead", "the", "combined", "team", "of", "professional", "bankers", ".", "Effective", "Monday", ",", "November", "17", ",", "2008", ",", "Service", "1st", "Bank", "offices", "in", "Stockton", ",", "Lodi", "and", "Tracy", "will", "convert", "all", "operational", "systems", "and", "physical", "signage", "to", "Central", "Valley", "Community", "Bank", ".", "Central", "Valley", "Community", "Bancorp", "reported", "assets", "at", "September", "30", ",", "2008", "of", "$", "524,636,000", "and", "Service", "1st", "Bancorp", "'s", "assets", "were", "$", "233,576,000", "at", "the", "end", "of", "the", "same", "period", ".", "If", "the", "transaction", "had", "closed", "on", "September", "30", ",", "2008", ",", "the", "estimated", "total", "combined", "assets", "for", "Central", "Valley", "Community", "Bancorp", "would", "have", "been", "approximately", "$", "760,000,000", ".", "The", "Company", "projects", "the", "acquisition", "of", "Service", "1st", "Bancorp", "and", "Service", "1st", "Bank", "to", "be", "accretive", "to", "earnings", "in", "the", "first", "year", "of", "the", "combined", "operations", ".", "This", "transaction", "is", "the", "second", "acquisition", "for", "Central", "Valley", "Community", "Bancorp", ",", "which", "acquired", "Bank", "of", "Madera", "County", "on", "January", "1", ",", "2005", ".", "Service", "1st", "Bank", "was", "established", "in", "1999", "as", "a", "full", "-", "service", "commercial", "bank", "headquartered", "in", "Stockton", ",", "California", "with", "additional", "offices", "in", "Lodi", "and", "Tracy", ",", "California", ".", "Its", "principal", "focus", "has", "been", "to", "serve", "the", "business", "banking", "needs", "of", "local", "businesses", ",", "professionals", "and", "individuals", "in", "San", "Joaquin", "County", ".", "\"", "The", "acquisition", "of", "Service", "1st", "Bank", "with", "offices", "in", "Stockton", ",", "Lodi", "and", "Tracy", "allows", "Central", "Valley", "Community", "Bank", "to", "fulfill", "strategic", "initiatives", "to", "bridge", "the", "Bank", "'s", "branching", "gap", "between", "existing", "offices", "in", "Sacramento", "and", "Madera", ".", "It", "will", "also", "enhance", "the", "Bank", "'s", "future", "performance", "with", "the", "addition", "of", "outstanding", "new", "employees", "whose", "loyal", "customers", "in", "this", "region", "value", "the", "same", "excellent", "quality", "service", "standards", "and", "community", "advocacy", "as", "our", "Bank", "\"", ",", "stated", "Daniel", "J", ".", "Doyle", ",", "president", "and", "CEO", "of", "Central", "Valley", "Community", "Bancorp", "and", "Central", "Valley", "Community", "Bank", ".", "\"", "We", "are", "proud", "of", "our", "29", "-", "year", "history", "of", "unchanging", "values", "and", "the", "solid", "financial", "performance", ",", "which", "is", "demonstrated", "by", "our", "Company", "being", "California", "'s", "first", "community", "bank", "to", "acquire", "another", "community", "bank", "in", "2008", ".", "That", "financial", "strength", "has", "also", "allowed", "the", "Bank", "to", "successfully", "complete", "this", "acquisition", "during", "one", "of", "the", "most", "unique", "economic", "and", "politically", "charged", "environments", "our", "country", "has", "ever", "seen", ".", "Through", "this", "opportunity", ",", "we", "will", "be", "able", "to", "offer", "new", "advancement", "and", "geographic", "employment", "for", "our", "new", "and", "existing", "employees", ",", "and", "deeper", "lending", "resources", "to", "nurture", "local", "businesses", "within", "a", "larger", "service", "area", "of", "15", "offices", "covering", "11", "different", "communities", "throughout", "the", "Valley", "\"", ",", "concluded", "Doyle", ".", "Central", "Valley", "Community", "Bancorp", "trades", "on", "the", "NASDAQ", "stock", "exchange", "under", "the", "symbol", "CVCY", ".", "Central", "Valley", "Community", "Bank", ",", "headquartered", "in", "Fresno", ",", "California", ",", "was", "founded", "in", "1979", "and", "is", "the", "sole", "subsidiary", "of", "Central", "Valley", "Community", "Bancorp", ".", "Central", "Valley", "Community", "Bank", "currently", "operates", "15", "offices", "in", "Clovis", ",", "Fresno", ",", "Kerman", ",", "Lodi", ",", "Madera", ",", "Oakhurst", ",", "Prather", ",", "Sacramento", ",", "Stockton", ",", "Tracy", "and", "a", "loan", "production", "office", "in", "Modesto", ".", "Additionally", ",", "the", "Bank", "operates", "Commercial", "Real", "Estate", "Lending", ",", "SBA", "Lending", "and", "Agribusiness", "Lending", "Departments", ".", "Investment", "services", "are", "provided", "by", "Investment", "Centers", "of", "America", ".", "Members", "of", "Central", "Valley", "Community", "Bancorp", "'s", "and", "the", "Bank", "'s", "Board", "of", "Directors", "are", ":", "Daniel", "N", ".", "Cunningham", "(", "Chairman", ")", ",", "Sidney", "B", ".", "Cox", ",", "Edwin", "S", ".", "Darden", ",", "Jr", ".", ",", "Daniel", "J", ".", "Doyle", ",", "Steven D", ".", "McDonald", ",", "Louis", "McMurray", ",", "Wanda", "L.", "Rogers", ",", "William", "S.", "Smittcamp", ",", "and", "Joseph", "B", ".", "Weirick", ".", "More", "information", "about", "Central", "Valley", "Community", "Bancorp", "and", "Central", "Valley", "Community", "Bank", "can", "be", "found", "at", "www.cvcb.com", ".", "Central", "Valley", "Community", "Bancorp", "received", "a", "fairness", "opinion", "from", "Keefe", ",", "Bruyette", "and", "Woods", ",", "Inc", ".", "and", "Downey", "Brand", "LLP", "served", "as", "legal", "advisor", ".", "Service", "1st", "Bancorp", "'s", "financial", "advisor", "was", "Sandler", "O", "'", "Neill", "and", "Partners", ",", "L", ".", "P", ".", "and", "its", "legal", "counsel", "was", "Dodd", "Mason", "George", "LLP", ".", "Forward", "-", "looking", "Statements", "--", "Certain", "matters", "discussed", "in", "this", "press", "release", "constitute", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "All", "statements", "contained", "herein", "that", "are", "not", "historical", "facts", ",", "such", "as", "statements", "regarding", "the", "Company", "'s", "current", "business", "strategy", "and", "the", "Company", "'s", "plans", "for", "future", "development", "and", "operations", ",", "are", "based", "upon", "current", "expectations", ".", "These", "statements", "are", "forward", "-", "looking", "in", "nature", "and", "involve", "a", "number", "of", "risks", "and", "uncertainties", ".", "Such", "risks", "and", "uncertainties", "include", ",", "but", "are", "not", "limited", "to", "(", "1", ")", "significant", "increases", "in", "competitive", "pressure", "in", "the", "banking", "industry", ";", "(", "2", ")", "the", "impact", "of", "changes", "in", "interest", "rates", ",", "a", "decline", "in", "economic", "conditions", "at", "the", "international", ",", "national", "or", "local", "level", "on", "the", "Company", "'s", "results", "of", "operations", ",", "the", "Company", "'s", "ability", "to", "continue", "its", "internal", "growth", "at", "historical", "rates", ",", "the", "Company", "'s", "ability", "to", "maintain", "its", "net", "interest", "margin", ",", "and", "the", "quality", "of", "the", "Company", "'s", "earning", "assets", ";", "(", "3", ")", "changes", "in", "the", "regulatory", "environment", ";", "(", "4", ")", "fluctuations", "in", "the", "real", "estate", "market", ";", "(", "5", ")", "changes", "in", "business", "conditions", "and", "inflation", ";", "(", "6", ")", "changes", "in", "securities", "markets", ";", "and", "(", "7", ")", "the", "other", "risks", "set", "forth", "in", "the", "Company", "'s", "reports", "filed", "with", "the", "Securities", "and", "Exchange", "Commission", ",", "including", "its", "Annual", "Report", "on", "Form", "10", "-", "K", "for", "the", "year", "ended", "December", "31", ",", "2007", ".", "Therefore", ",", "the", "information", "set", "forth", "in", "such", "forward", "-", "looking", "statements", "should", "be", "carefully", "considered", "when", "evaluating", "the", "business", "prospects", "of", "the", "Company", ".", "CONTACT", ":", "Debbie", "Nalchajian-Cohen", "Office", ":", "(", "559", ")", "222", "-", "1322", "Cell", ":", "(", "559", ")", "281", "-", "1312" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "B-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "B-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1419852-000110465916145194-a16-18630_1ex99d1
EX-99.1 4 a16-18630_1ex99d1.htm EX-99.1 Exhibit 99.1 FOR IMMEDIATE RELEASE STEINHOFF COMPLETES ACQUISITION OF MATTRESS FIRM HOUSTON, September 16, 2016 /BUSINESSWIRE/ - Mattress Firm Holding Corp. ("Mattress Firm" or the "Company"), the nation's largest mattress retailer, today announced the completion of its previously announced acquisition by Steinhoff International Holdings N.V. ("Steinhoff") (FRANKFURT: SNH). The acquisition was first announced by Mattress Firm on August 8, 2016 and closed and became effective today. Steinhoff completed the acquisition of Mattress Firm concurrently with payment for the previously tendered shares in accordance with the merger agreement through a merger of an indirect wholly-owned subsidiary with Mattress Firm. All shares of Mattress Firm common stock not purchased in the tender offer (other than (i) treasury shares, (ii) shares owned by Steinhoff or Mattress Firm or any direct or indirect wholly-owned subsidiary of Steinhoff or Mattress Firm and (iii) shares held by a Mattress Firm stockholder who has properly exercised their dissenters' rights of appraisal in respect of such shares) will be converted into the right to receive $64.00 per share. As a result of the completion of the transaction, the Company's common stock will no longer be traded on the NASDAQ stock market. Upon closing, Mattress Firm became a subsidiary of Steinhoff. Mattress Firm's management, led by Steve Stagner, executive chairman, and Ken Murphy, president and CEO, will remain in place and continue to run Mattress Firm's day-to-day activities. "The transaction with Steinhoff is complete and I am delighted that Mattress Firm is now part of the Steinhoff organization", commented Ken Murphy, president and CEO of Mattress Firm. "Steinhoff has a proven track record in the global mattress industry, and they share our vision for the growth and expansion of Mattress Firm. This is an exciting event for our customers, employees and business partners as we enter a new chapter for Mattress Firm. Our team remains committed to building a national chain under one banner in the U.S. and offering our guests a great night's sleep". Forward Looking Statements This press release contains forward-looking statements regarding Steinhoff and Mattress Firm, including, but not limited to, statements related to the estimated future financial results and performance of Mattress Firm's business in mattresses and related products and accessories, as well as other statements that are not historical facts. These forward-looking statements are based on each of the companies' current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks associated with business combination transactions, such as the risk that the acquired business will not be integrated successfully or that such integration may be more difficult, time-consuming or costly than expected; risks related to future opportunities and plans for the combined company, including uncertainty of the expected future financial performance and results of the combined company following completion of the transaction; disruption from the acquisition, making it more difficult to conduct business as usual or maintain relationships with customers, employees or suppliers; and the possibility that if Steinhoff does not achieve the perceived benefits of the acquisition as rapidly or to the extent anticipated by financial analysts or investors, the market price of Steinhoff's ordinary shares could decline; and those other risks detailed under the caption "Risk Factors" and elsewhere in Mattress Firm's U.S. Securities and Exchange Commission ("SEC") filings and reports, including in Mattress Firm's Quarterly Reports on Form 10-Q for the quarters ended May 3, 2016 and August 2, 2016 and Annual Report on Form 10-K for the year ended February 2, 2016, which are filed with the SEC, and in Steinhoff's filings and reports filed with the Frankfurt Stock Exchange or the Johannesburg 5815 Gulf Freeway · Houston, TX · 77023 · Phone: +1 713-923-1090 · Fax: +1 713-923-1096 Stock Exchange and future filings and reports by either company. Neither Steinhoff nor Mattress Firm undertakes any duty or obligation to update any forward-looking statements contained in this press release as a result of new information, future events or changes in its expectations. About Steinhoff International Holdings N.V. Steinhoff is an integrated retailer that manufactures, sources and retails furniture, household goods and general merchandise in Europe, Africa and Australasia. Steinhoff's vertically integrated business model is based upon a strategy of sourcing and manufacturing products at low cost and distributing them to its value-conscious customer base through its extensive retail footprint. Steinhoff's integrated retail divisions comprise of: · Household goods comprising furniture and homeware retail businesses; · General Merchandise focusing on clothing and footwear, accessories and homeware; and · Automotive dealerships in South Africa which provide vehicles, parts, insurance, accessories and servicing. Steinhoff has a primary listing on the Frankfurt Stock Exchange and a secondary listing on the Johannesburg Stock Exchange. Steinhoff reported revenue and operating profit for the 12 months ended June 30, 2016 of €13.1 billion ($14.5 billion) and €1.5 billion ($1.6 billion) respectively. For more information, please visit www.steinhoffinternational.com. About Mattress Firm Holding Corp. With more than 3,600 company-operated and franchised stores across 49 states, Mattress Firm Holding Corp. (NASDAQ: MFRM) has the largest geographic footprint in the United States among multi-brand mattress retailers. Founded in 1986, Houston-based MFRM is the nation's leading specialty bedding retailer with over $3.5 billion in pro forma sales in 2015. MFRM, through its brands including Mattress Firm, Sleepy's and Sleep Train, offers a broad selection of both traditional and specialty mattresses, bedding accessories and other related products. More information is available at www.mattressfirm.com. The Company's website is not part of this release. Steinhoff Contact: Mariza Nel Director, Corporate Services (Investor Relations) +27 (0)21 808 0711 Mattress Firm Investor Relations Contact: Scott McKinney Vice President of Investor Relations [email protected] +1 713-328-3417 Mattress Firm Media Contact: Erica Martinez, Jackson Spalding [email protected] +1 214-269-4404 ###
[ "EX", "-", "99", ".", "1", "4", "a16", "-", "18630", "_", "1ex99d1", ".", "htm", "EX", "-", "99", ".", "1", "Exhibit", "99", ".", "1", "FOR", "IMMEDIATE", "RELEASE", "STEINHOFF", "COMPLETES", "ACQUISITION", "OF", "MATTRESS", "FIRM", "HOUSTON", ",", "September", "16", ",", "2016", "/", "BUSINESSWIRE", "/", "-", "Mattress", "Firm", "Holding", "Corp", ".", "(", "\"", "Mattress", "Firm", "\"", "or", "the", "\"", "Company", "\"", ")", ",", "the", "nation", "'s", "largest", "mattress", "retailer", ",", "today", "announced", "the", "completion", "of", "its", "previously", "announced", "acquisition", "by", "Steinhoff", "International", "Holdings", "N", ".", "V", ".", "(", "\"", "Steinhoff", "\"", ")", "(", "FRANKFURT", ":", "SNH", ")", ".", "The", "acquisition", "was", "first", "announced", "by", "Mattress", "Firm", "on", "August", "8", ",", "2016", "and", "closed", "and", "became", "effective", "today", ".", "Steinhoff", "completed", "the", "acquisition", "of", "Mattress", "Firm", "concurrently", "with", "payment", "for", "the", "previously", "tendered", "shares", "in", "accordance", "with", "the", "merger", "agreement", "through", "a", "merger", "of", "an", "indirect", "wholly", "-", "owned", "subsidiary", "with", "Mattress", "Firm", ".", "All", "shares", "of", "Mattress", "Firm", "common", "stock", "not", "purchased", "in", "the", "tender", "offer", "(", "other", "than", "(", "i", ")", "treasury", "shares", ",", "(", "ii", ")", "shares", "owned", "by", "Steinhoff", "or", "Mattress", "Firm", "or", "any", "direct", "or", "indirect", "wholly", "-", "owned", "subsidiary", "of", "Steinhoff", "or", "Mattress", "Firm", "and", "(", "iii", ")", "shares", "held", "by", "a", "Mattress", "Firm", "stockholder", "who", "has", "properly", "exercised", "their", "dissenters", "'", "rights", "of", "appraisal", "in", "respect", "of", "such", "shares", ")", "will", "be", "converted", "into", "the", "right", "to", "receive", "$", "64.00", "per", "share", ".", "As", "a", "result", "of", "the", "completion", "of", "the", "transaction", ",", "the", "Company", "'s", "common", "stock", "will", "no", "longer", "be", "traded", "on", "the", "NASDAQ", "stock", "market", ".", "Upon", "closing", ",", "Mattress", "Firm", "became", "a", "subsidiary", "of", "Steinhoff", ".", "Mattress", "Firm", "'s", "management", ",", "led", "by", "Steve", "Stagner", ",", "executive", "chairman", ",", "and", "Ken", "Murphy", ",", "president", "and", "CEO", ",", "will", "remain", "in", "place", "and", "continue", "to", "run", "Mattress", "Firm", "'s", "day", "-", "to", "-", "day", "activities", ".", "\"", "The", "transaction", "with", "Steinhoff", "is", "complete", "and", "I", "am", "delighted", "that", "Mattress", "Firm", "is", "now", "part", "of", "the", "Steinhoff", "organization", "\"", ",", "commented", "Ken", "Murphy", ",", "president", "and", "CEO", "of", "Mattress", "Firm", ".", "\"", "Steinhoff", "has", "a", "proven", "track", "record", "in", "the", "global", "mattress", "industry", ",", "and", "they", "share", "our", "vision", "for", "the", "growth", "and", "expansion", "of", "Mattress", "Firm", ".", "This", "is", "an", "exciting", "event", "for", "our", "customers", ",", "employees", "and", "business", "partners", "as", "we", "enter", "a", "new", "chapter", "for", "Mattress", "Firm", ".", "Our", "team", "remains", "committed", "to", "building", "a", "national", "chain", "under", "one", "banner", "in", "the", "U", ".", "S", ".", "and", "offering", "our", "guests", "a", "great", "night", "'s", "sleep", "\"", ".", "Forward", "Looking", "Statements", "This", "press", "release", "contains", "forward", "-", "looking", "statements", "regarding", "Steinhoff", "and", "Mattress", "Firm", ",", "including", ",", "but", "not", "limited", "to", ",", "statements", "related", "to", "the", "estimated", "future", "financial", "results", "and", "performance", "of", "Mattress", "Firm", "'s", "business", "in", "mattresses", "and", "related", "products", "and", "accessories", ",", "as", "well", "as", "other", "statements", "that", "are", "not", "historical", "facts", ".", "These", "forward", "-", "looking", "statements", "are", "based", "on", "each", "of", "the", "companies", "'", "current", "expectations", "and", "inherently", "involve", "significant", "risks", "and", "uncertainties", ".", "Actual", "results", "and", "the", "timing", "of", "events", "could", "differ", "materially", "from", "those", "anticipated", "in", "such", "forward", "-", "looking", "statements", "as", "a", "result", "of", "these", "risks", "and", "uncertainties", ",", "which", "include", ",", "without", "limitation", ",", "risks", "associated", "with", "business", "combination", "transactions", ",", "such", "as", "the", "risk", "that", "the", "acquired", "business", "will", "not", "be", "integrated", "successfully", "or", "that", "such", "integration", "may", "be", "more", "difficult", ",", "time", "-", "consuming", "or", "costly", "than", "expected", ";", "risks", "related", "to", "future", "opportunities", "and", "plans", "for", "the", "combined", "company", ",", "including", "uncertainty", "of", "the", "expected", "future", "financial", "performance", "and", "results", "of", "the", "combined", "company", "following", "completion", "of", "the", "transaction", ";", "disruption", "from", "the", "acquisition", ",", "making", "it", "more", "difficult", "to", "conduct", "business", "as", "usual", "or", "maintain", "relationships", "with", "customers", ",", "employees", "or", "suppliers", ";", "and", "the", "possibility", "that", "if", "Steinhoff", "does", "not", "achieve", "the", "perceived", "benefits", "of", "the", "acquisition", "as", "rapidly", "or", "to", "the", "extent", "anticipated", "by", "financial", "analysts", "or", "investors", ",", "the", "market", "price", "of", "Steinhoff", "'s", "ordinary", "shares", "could", "decline", ";", "and", "those", "other", "risks", "detailed", "under", "the", "caption", "\"", "Risk", "Factors", "\"", "and", "elsewhere", "in", "Mattress", "Firm", "'s", "U", ".", "S", ".", "Securities", "and", "Exchange", "Commission", "(", "\"", "SEC", "\"", ")", "filings", "and", "reports", ",", "including", "in", "Mattress", "Firm", "'s", "Quarterly", "Reports", "on", "Form", "10", "-", "Q", "for", "the", "quarters", "ended", "May", "3", ",", "2016", "and", "August", "2", ",", "2016", "and", "Annual", "Report", "on", "Form", "10", "-", "K", "for", "the", "year", "ended", "February", "2", ",", "2016", ",", "which", "are", "filed", "with", "the", "SEC", ",", "and", "in", "Steinhoff", "'s", "filings", "and", "reports", "filed", "with", "the", "Frankfurt", "Stock", "Exchange", "or", "the", "Johannesburg", "5815", "Gulf", "Freeway", "·", "Houston", ",", "TX", "·", "77023", "·", "Phone", ":", "+", "1", "713", "-", "923", "-", "1090", "·", "Fax", ":", "+", "1", "713", "-", "923", "-", "1096", "Stock", "Exchange", "and", "future", "filings", "and", "reports", "by", "either", "company", ".", "Neither", "Steinhoff", "nor", "Mattress", "Firm", "undertakes", "any", "duty", "or", "obligation", "to", "update", "any", "forward", "-", "looking", "statements", "contained", "in", "this", "press", "release", "as", "a", "result", "of", "new", "information", ",", "future", "events", "or", "changes", "in", "its", "expectations", ".", "About", "Steinhoff", "International", "Holdings", "N", ".", "V", ".", "Steinhoff", "is", "an", "integrated", "retailer", "that", "manufactures", ",", "sources", "and", "retails", "furniture", ",", "household", "goods", "and", "general", "merchandise", "in", "Europe", ",", "Africa", "and", "Australasia", ".", "Steinhoff", "'s", "vertically", "integrated", "business", "model", "is", "based", "upon", "a", "strategy", "of", "sourcing", "and", "manufacturing", "products", "at", "low", "cost", "and", "distributing", "them", "to", "its", "value", "-", "conscious", "customer", "base", "through", "its", "extensive", "retail", "footprint", ".", "Steinhoff", "'s", "integrated", "retail", "divisions", "comprise", "of", ":", "·", "Household", "goods", "comprising", "furniture", "and", "homeware", "retail", "businesses", ";", "·", "General", "Merchandise", "focusing", "on", "clothing", "and", "footwear", ",", "accessories", "and", "homeware", ";", "and", "·", "Automotive", "dealerships", "in", "South", "Africa", "which", "provide", "vehicles", ",", "parts", ",", "insurance", ",", "accessories", "and", "servicing", ".", "Steinhoff", "has", "a", "primary", "listing", "on", "the", "Frankfurt", "Stock", "Exchange", "and", "a", "secondary", "listing", "on", "the", "Johannesburg", "Stock", "Exchange", ".", "Steinhoff", "reported", "revenue", "and", "operating", "profit", "for", "the", "12", "months", "ended", "June", "30", ",", "2016", "of", "€", "13.1 billion", "(", "$", "14.5 billion", ")", "and", "€", "1.5 billion", "(", "$", "1.6 billion", ")", "respectively", ".", "For", "more", "information", ",", "please", "visit", "www.steinhoffinternational.com", ".", "About", "Mattress", "Firm", "Holding", "Corp", ".", "With", "more", "than", "3,600", "company", "-", "operated", "and", "franchised", "stores", "across", "49", "states", ",", "Mattress", "Firm", "Holding", "Corp", ".", "(", "NASDAQ", ":", "MFRM", ")", "has", "the", "largest", "geographic", "footprint", "in", "the", "United", "States", "among", "multi", "-", "brand", "mattress", "retailers", ".", "Founded", "in", "1986", ",", "Houston", "-", "based", "MFRM", "is", "the", "nation", "'s", "leading", "specialty", "bedding", "retailer", "with", "over", "$", "3.5 billion", "in", "pro", "forma", "sales", "in", "2015", ".", "MFRM", ",", "through", "its", "brands", "including", "Mattress", "Firm", ",", "Sleepy", "'s", "and", "Sleep", "Train", ",", "offers", "a", "broad", "selection", "of", "both", "traditional", "and", "specialty", "mattresses", ",", "bedding", "accessories", "and", "other", "related", "products", ".", "More", "information", "is", "available", "at", "www.mattressfirm.com", ".", "The", "Company", "'s", "website", "is", "not", "part", "of", "this", "release", ".", "Steinhoff", "Contact", ":", "Mariza", "Nel", "Director", ",", "Corporate", "Services", "(", "Investor", "Relations", ")", "+", "27", "(", "0", ")", "21", "808", "0711", "Mattress", "Firm", "Investor", "Relations", "Contact", ":", "Scott", "McKinney", "Vice", "President", "of", "Investor", "Relations", "[email protected]", "+", "1", "713", "-", "328", "-", "3417", "Mattress", "Firm", "Media", "Contact", ":", "Erica", "Martinez", ",", "Jackson", "Spalding", "[email protected]", "+", "1", "214", "-", "269", "-", "4404", "#", "#", "#" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Generic_Info.ANNUAL_REVENUES", "I-Generic_Info.ANNUAL_REVENUES", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Generic_Info.ANNUAL_REVENUES", "I-Generic_Info.ANNUAL_REVENUES", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1446687-000144668712000037-exhibit991cooperstreetpressr
EX-99.1 11 exhibit991cooperstreetpressr.htm HARTMAN MANAGEMENT Hartman INCOME REIT 2909 Hillcroft # 420 Houston, Texas 77057 www.hi-reit.com Press Release Hartman INCOME REIT adds to Dallas RETAIL Portfolio Hartman Income REIT, Inc., a Houston based Real Estate Investment Trust, announced today that Hartman Short Term Properties XX, Inc. an affiliate, has purchased Cooper Street Shopping Center from Regency Centers, LP. Cooper Street SC - A 127,696 square foot, three (3) building retail center with one (1) single tenant pad site at the highly desirable intersection of Cooper Street and Interstate 20 in Arlington Texas. Lead tenants at Cooper Street Shopping Center include: Home Depot, the largest home improvement retailer in the United States, Office Max a leader in both business-to-business office products solutions and retail office products, America's largest K& G Men's Store, a rapidly growing chain of no-frills, discount-priced men's clothing stores and T.G.I Fridays, casual dining restaurant and bar that caters to singles with locations all around the world. Cooper Street Plaza's location along Interstate 20 and its proximity to several other highways provides it with access to consumers from almost anywhere in the southern half of the DF W Metroplex. Interstate 20 is one of the main freeways in the DFW Metroplex which connects Dallas and Fort Worth . Several of the country's largest retailers are located within the immediate trade area and boast excellent sales figures. The retail corridor contains approximately 6 million square feet of retail space and attracts an estimated 40 million visitors per year within one mile. Hartman's business plan is to stabilize the center at submarket rates. Chris Cozby, Chris Gerard and Kevin Holland of CB Richard Ellis represented the seller, Regency Centers and Dave Wheeler and Julian Kwok, CCIM represented the buyer, Hartman Short Term Properties XX, Inc. Hartman Income REIT's existing Portfolio Hartman Income REIT, headquartered in Houston, Texas, is a $330,000,000 Real Estate Investment Trust which owns and/or manages 34 properties with 4,770,000 square feet of office, industrial and retail space. Our properties are located in Houston, Dallas and San Antonio, Texas. For more information, please contact Dave Wheeler, at 214-432-3706.
[ "EX", "-", "99", ".", "1", "11", "exhibit991cooperstreetpressr", ".", "htm", "HARTMAN", "MANAGEMENT", "Hartman", "INCOME", "REIT", "2909", "Hillcroft", "#", "420", "Houston", ",", "Texas", "77057", "www.hi-reit.com", "Press", "Release", "Hartman", "INCOME", "REIT", "adds", "to", "Dallas", "RETAIL", "Portfolio", "Hartman", "Income", "REIT", ",", "Inc", ".", ",", "a", "Houston", "based", "Real", "Estate", "Investment", "Trust", ",", "announced", "today", "that", "Hartman", "Short", "Term", "Properties", "XX", ",", "Inc", ".", "an", "affiliate", ",", "has", "purchased", "Cooper", "Street", "Shopping", "Center", "from", "Regency", "Centers", ",", "LP", ".", "Cooper", "Street", "SC", "-", "A", "127,696", "square foot", ",", "three", "(", "3", ")", "building", "retail", "center", "with", "one", "(", "1", ")", "single", "tenant", "pad", "site", "at", "the", "highly", "desirable", "intersection", "of", "Cooper", "Street", "and", "Interstate", "20", "in", "Arlington", "Texas", ".", "Lead", "tenants", "at", "Cooper", "Street", "Shopping", "Center", "include", ":", "Home", "Depot", ",", "the", "largest", "home", "improvement", "retailer", "in", "the", "United", "States", ",", "Office", "Max", "a", "leader", "in", "both", "business", "-", "to", "-", "business", "office", "products", "solutions", "and", "retail", "office", "products", ",", "America", "'s", "largest", "K", "&", "G", "Men", "'s", "Store", ",", "a", "rapidly", "growing", "chain", "of", "no", "-", "frills", ",", "discount", "-", "priced", "men", "'s", "clothing", "stores", "and", "T", ".", "G", ".", "I", "Fridays", ",", "casual", "dining", "restaurant", "and", "bar", "that", "caters", "to", "singles", "with", "locations", "all", "around", "the", "world", ".", "Cooper", "Street", "Plaza", "'s", "location", "along", "Interstate", "20", "and", "its", "proximity", "to", "several", "other", "highways", "provides", "it", "with", "access", "to", "consumers", "from", "almost", "anywhere", "in", "the", "southern", "half", "of", "the", "DF", "W", "Metroplex", ".", "Interstate", "20", "is", "one", "of", "the", "main", "freeways", "in", "the", "DFW", "Metroplex", "which", "connects", "Dallas", "and", "Fort", "Worth", ".", "Several", "of", "the", "country", "'s", "largest", "retailers", "are", "located", "within", "the", "immediate", "trade", "area", "and", "boast", "excellent", "sales", "figures", ".", "The", "retail", "corridor", "contains", "approximately", "6 million", "square feet", "of", "retail", "space", "and", "attracts", "an", "estimated", "40", "million", "visitors", "per", "year", "within", "one", "mile", ".", "Hartman", "'s", "business", "plan", "is", "to", "stabilize", "the", "center", "at", "submarket", "rates", ".", "Chris", "Cozby", ",", "Chris", "Gerard", "and", "Kevin", "Holland", "of", "CB", "Richard", "Ellis", "represented", "the", "seller", ",", "Regency", "Centers", "and", "Dave", "Wheeler", "and", "Julian", "Kwok", ",", "CCIM", "represented", "the", "buyer", ",", "Hartman", "Short", "Term", "Properties", "XX", ",", "Inc", ".", "Hartman", "Income", "REIT", "'s", "existing", "Portfolio", "Hartman", "Income", "REIT", ",", "headquartered", "in", "Houston", ",", "Texas", ",", "is", "a", "$", "330,000,000", "Real", "Estate", "Investment", "Trust", "which", "owns", "and", "/", "or", "manages", "34", "properties", "with", "4,770,000", "square feet", "of", "office", ",", "industrial", "and", "retail", "space", ".", "Our", "properties", "are", "located", "in", "Houston", ",", "Dallas", "and", "San", "Antonio", ",", "Texas", ".", "For", "more", "information", ",", "please", "contact", "Dave", "Wheeler", ",", "at", "214", "-", "432", "-", "3706", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
873303-000119312521300047-d228298dex992
EX-99.2 5 d228298dex992.htm EX-99.2 EX-99.2 Exhibit 99.2 Sarepta Therapeutics Announces Proposed $500,000,000 Public Offering of Common Stock CAMBRIDGE, Mass., Oct. 12, 2021 (GLOBE NEWSWIRE) - Sarepta Therapeutics, Inc. (Nasdaq:SRPT), the leader in precision genetic medicine for rare diseases, today announced that it is offering to sell, subject to market and other conditions, $500,000,000 in shares of its common stock in an underwritten public offering. Sarepta also intends to grant the underwriters a 30-day option to purchase up to an additional $75,000,000 in shares of its common stock. Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC are acting as the underwriters of the proposed offering. Sarepta intends to use the net proceeds from the offering principally for the continuation of, and initiation of further, clinical trials, commercialization, manufacturing, business development activities, including the potential licensing or acquisition of complementary products, technologies and entities, and other general corporate purposes. The shares are being offered by Sarepta pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission (SEC). The offering is being made only by means of a written prospectus and prospectus supplement. A preliminary prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. When available, copies of the preliminary prospectus supplement relating to these securities may also be obtained from the offices of Goldman Sachs & Co. LLC, at Prospectus Department, 200 West Street, New York, New York 10282, by telephone at 866-471-2526, by facsimile at 212-902-9316 or by e-mail at [email protected]; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (866) 803-9204, or by emailing [email protected]; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; or Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Raleigh, North Carolina 27560, Telephone: 1-800-221-1037, or by email at [email protected]. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Sarepta, nor shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Sarepta Therapeutics Sarepta is on an urgent mission: engineer precision genetic medicine for rare diseases that devastate lives and cut futures short. We hold leadership positions in Duchenne muscular dystrophy (DMD) and limb-girdle muscular dystrophies (LGMDs), and we currently have more than 40 programs in various stages of development. Our vast pipeline is driven by our multi-platform Precision Genetic Medicine Engine in gene therapy, RNA and gene editing. Forward-Looking Statements This press release contains statements that are forward-looking, including the statements about the completion, timing and size of the proposed public offering of Sarepta's common stock and the intended use of net proceeds. These forward-looking statements involve risks and uncertainties, many of which are beyond Sarepta's control, including risk and uncertainties related to market conditions and satisfaction of customary closing conditions related to the proposed public offering. Sarepta may be unable to complete the public offering on the anticipated terms or at all. Applicable risks also include those that are included in the "Risk Factors" section of Sarepta's Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, and any subsequent SEC filings, including the prospectus supplement related to the proposed offering to be filed with the SEC. Any forward-looking statement in this press release represents Sarepta's views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. Sarepta does not undertake any obligation to publicly update its forward-looking statements based on events or circumstances after the date hereof, except as required by applicable law. Source: Sarepta Therapeutics, Inc. Investor Contact: Ian Estepan, 617-274-4052 [email protected] Media Contact: Tracy Sorrentino, 617-301-8566 [email protected]
[ "EX", "-", "99", ".", "2", "5", "d228298dex992", ".", "htm", "EX", "-", "99", ".", "2", "EX", "-", "99", ".", "2", "Exhibit", "99", ".", "2", "Sarepta", "Therapeutics", "Announces", "Proposed", "$", "500,000,000", "Public", "Offering", "of", "Common", "Stock", "CAMBRIDGE", ",", "Mass", ".", ",", "Oct.", "12", ",", "2021", "(", "GLOBE", "NEWSWIRE", ")", "-", "Sarepta", "Therapeutics", ",", "Inc", ".", "(", "Nasdaq", ":", "SRPT", ")", ",", "the", "leader", "in", "precision", "genetic", "medicine", "for", "rare", "diseases", ",", "today", "announced", "that", "it", "is", "offering", "to", "sell", ",", "subject", "to", "market", "and", "other", "conditions", ",", "$", "500,000,000", "in", "shares", "of", "its", "common", "stock", "in", "an", "underwritten", "public", "offering", ".", "Sarepta", "also", "intends", "to", "grant", "the", "underwriters", "a", "30", "-", "day", "option", "to", "purchase", "up", "to", "an", "additional", "$", "75,000,000", "in", "shares", "of", "its", "common", "stock", ".", "Goldman", "Sachs", "&", "Co", ".", "LLC", ",", "J", ".", "P", ".", "Morgan", "Securities", "LLC", ",", "Morgan", "Stanley", "&", "Co", ".", "LLC", "and", "Credit", "Suisse", "Securities", "(", "USA", ")", "LLC", "are", "acting", "as", "the", "underwriters", "of", "the", "proposed", "offering", ".", "Sarepta", "intends", "to", "use", "the", "net", "proceeds", "from", "the", "offering", "principally", "for", "the", "continuation", "of", ",", "and", "initiation", "of", "further", ",", "clinical", "trials", ",", "commercialization", ",", "manufacturing", ",", "business", "development", "activities", ",", "including", "the", "potential", "licensing", "or", "acquisition", "of", "complementary", "products", ",", "technologies", "and", "entities", ",", "and", "other", "general", "corporate", "purposes", ".", "The", "shares", "are", "being", "offered", "by", "Sarepta", "pursuant", "to", "an", "effective", "shelf", "registration", "statement", "that", "was", "previously", "filed", "with", "the", "Securities", "and", "Exchange", "Commission", "(", "SEC", ")", ".", "The", "offering", "is", "being", "made", "only", "by", "means", "of", "a", "written", "prospectus", "and", "prospectus", "supplement", ".", "A", "preliminary", "prospectus", "supplement", "relating", "to", "and", "describing", "the", "terms", "of", "the", "offering", "will", "be", "filed", "with", "the", "SEC", "and", "will", "be", "available", "on", "the", "SEC", "'s", "website", "at", "www.sec.gov", ".", "When", "available", ",", "copies", "of", "the", "preliminary", "prospectus", "supplement", "relating", "to", "these", "securities", "may", "also", "be", "obtained", "from", "the", "offices", "of", "Goldman", "Sachs", "&", "Co", ".", "LLC", ",", "at", "Prospectus", "Department", ",", "200", "West", "Street", ",", "New", "York", ",", "New", "York", "10282", ",", "by", "telephone", "at", "866", "-", "471", "-", "2526", ",", "by", "facsimile", "at", "212", "-", "902", "-", "9316", "or", "by", "e", "-", "mail", "at", "[email protected]", ";", "J", ".", "P", ".", "Morgan", "Securities", "LLC", ",", "c", "/", "o", "Broadridge", "Financial", "Solutions", ",", "1155", "Long Island", "Avenue", ",", "Edgewood", ",", "NY", "11717", ",", "telephone", ":", "(", "866", ")", "803", "-", "9204", ",", "or", "by", "emailing", "[email protected]", ";", "Morgan", "Stanley", "&", "Co", ".", "LLC", ",", "Attention", ":", "Prospectus", "Department", ",", "180", "Varick", "Street", ",", "2nd", "Floor", ",", "New", "York", ",", "New", "York", "10014", ";", "or", "Credit", "Suisse", "Securities", "(", "USA", ")", "LLC", ",", "Attn", ":", "Prospectus", "Department", ",", "6933", "Louis Stephens", "Drive", ",", "Raleigh", ",", "North", "Carolina", "27560", ",", "Telephone", ":", "1", "-", "800", "-", "221", "-", "1037", ",", "or", "by", "email", "at", "[email protected]", ".", "The", "final", "terms", "of", "the", "offering", "will", "be", "disclosed", "in", "a", "final", "prospectus", "supplement", "to", "be", "filed", "with", "the", "SEC", ".", "This", "press", "release", "does", "not", "constitute", "an", "offer", "to", "sell", "or", "a", "solicitation", "of", "an", "offer", "to", "buy", "any", "securities", "of", "Sarepta", ",", "nor", "shall", "there", "be", "any", "sale", "of", "securities", "in", "any", "state", "or", "jurisdiction", "in", "which", "such", "an", "offer", ",", "solicitation", "or", "sale", "would", "be", "unlawful", "prior", "to", "registration", "or", "qualification", "under", "the", "securities", "laws", "of", "any", "such", "state", "or", "jurisdiction", ".", "About", "Sarepta", "Therapeutics", "Sarepta", "is", "on", "an", "urgent", "mission", ":", "engineer", "precision", "genetic", "medicine", "for", "rare", "diseases", "that", "devastate", "lives", "and", "cut", "futures", "short", ".", "We", "hold", "leadership", "positions", "in", "Duchenne", "muscular", "dystrophy", "(", "DMD", ")", "and", "limb", "-", "girdle", "muscular", "dystrophies", "(", "LGMDs", ")", ",", "and", "we", "currently", "have", "more", "than", "40", "programs", "in", "various", "stages", "of", "development", ".", "Our", "vast", "pipeline", "is", "driven", "by", "our", "multi", "-", "platform", "Precision", "Genetic", "Medicine", "Engine", "in", "gene", "therapy", ",", "RNA", "and", "gene", "editing", ".", "Forward", "-", "Looking", "Statements", "This", "press", "release", "contains", "statements", "that", "are", "forward", "-", "looking", ",", "including", "the", "statements", "about", "the", "completion", ",", "timing", "and", "size", "of", "the", "proposed", "public", "offering", "of", "Sarepta", "'s", "common", "stock", "and", "the", "intended", "use", "of", "net", "proceeds", ".", "These", "forward", "-", "looking", "statements", "involve", "risks", "and", "uncertainties", ",", "many", "of", "which", "are", "beyond", "Sarepta", "'s", "control", ",", "including", "risk", "and", "uncertainties", "related", "to", "market", "conditions", "and", "satisfaction", "of", "customary", "closing", "conditions", "related", "to", "the", "proposed", "public", "offering", ".", "Sarepta", "may", "be", "unable", "to", "complete", "the", "public", "offering", "on", "the", "anticipated", "terms", "or", "at", "all", ".", "Applicable", "risks", "also", "include", "those", "that", "are", "included", "in", "the", "\"", "Risk", "Factors", "\"", "section", "of", "Sarepta", "'s", "Quarterly", "Report", "on", "Form", "10", "-", "Q", "for", "the", "quarter", "ended", "June", "30", ",", "2021", ",", "and", "any", "subsequent", "SEC", "filings", ",", "including", "the", "prospectus", "supplement", "related", "to", "the", "proposed", "offering", "to", "be", "filed", "with", "the", "SEC", ".", "Any", "forward", "-", "looking", "statement", "in", "this", "press", "release", "represents", "Sarepta", "'s", "views", "only", "as", "of", "the", "date", "of", "this", "press", "release", "and", "should", "not", "be", "relied", "upon", "as", "representing", "its", "views", "as", "of", "any", "subsequent", "date", ".", "Sarepta", "does", "not", "undertake", "any", "obligation", "to", "publicly", "update", "its", "forward", "-", "looking", "statements", "based", "on", "events", "or", "circumstances", "after", "the", "date", "hereof", ",", "except", "as", "required", "by", "applicable", "law", ".", "Source", ":", "Sarepta", "Therapeutics", ",", "Inc", ".", "Investor", "Contact", ":", "Ian", "Estepan", ",", "617", "-", "274", "-", "4052", "[email protected]", "Media", "Contact", ":", "Tracy", "Sorrentino", ",", "617", "-", "301", "-", "8566", "[email protected]" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1275211-000127521106000011-ex99_1
EX-99.1 2 ex99_1.htm PRESS RELEASE DATED AUGUST 30, 2006 ANNOUNCING THE COMPLETION OF THE SALE OF SLEEP COUNTRY USA Press Release dated August 30, 2006 announcing the completion of the sale of Sleep Country USA Contacts: Alan H. Oshiki Broadgate Consultants, Inc. (212) 232-2222 William S. Creekmuir Simmons Company (770) 392-6768 Dale R. Carlsen Sleep Train (916)735-1300 For Immediate Release Simmons Completes Sale of Sleep Country USA to Sleep Train _________________________________________________________________ ATLANTA, August 30, 2006 - Simmons Company, a leading manufacturer of premium-branded bedding products, today announced the completion of the sale of Sleep Country USA, its retail sales business, to an affiliate of The Sleep Train, Inc., a leading bedding retailer, for approximately $55 million in cash. The proceeds of the sale will be used for general corporate purposes. As previously announced, Simmons entered into a multi-year supply agreement with the combined Sleep Train and Sleep Country USA entities. This agreement is expected to generate purchases in excess of $300 million. "We are pleased to complete this transaction with Sleep Train, which allows us to focus on growing our core manufacturing business", said Simmons' Chairman and Chief Executive Officer, Charlie Eitel. Atlanta-based Simmons Company, through its indirect subsidiary Simmons Bedding Company, is one of the world's largest mattress manufacturers, manufacturing and marketing a broad range of products including Beautyrest ® , BackCare ® , Natural Care TM Latex, BackCare Kids ® and Deep Sleep ® . Simmons Bedding Company operates 17 conventional bedding manufacturing facilities and two juvenile bedding manufacturing facilities across the United States and Puerto Rico. Simmons is committed to developing superior mattresses and promoting a higher quality sleep for consumers around the world. For more information, visit the Company's website at www.simmons.com. "SafeHarbor" Statement under Private Securities Litigation Reform Act of 1995: This press release includes forward-looking statements that reflect Simmons' current views about future events and financial performance. Words such as "estimates," "expects", "anticipates", "projects", "plans", "intends", "believes," "forecasts" and variations of such words or similar expressions that predict or indicate future events, results or trends, or that do not relate to historical matters, identify forward-looking statements. The forward-looking statements in this press release speak only as of the date of this release. These forward-looking statements are expressed in good faith and Simmons believes there is a reasonable basis for them. However, there can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties, and other factors that could cause actual results to differ materially from Simmons' expectations. These factors include, but are not limited to: (i) competitive pricing pressures in the bedding industry; (ii) legal and regulatory requirements; (iii) the success of Simmons' new products; (iv) Simmons' relationships with and viability of its major suppliers; (v) fluctuations in Simmons' costs of raw materials; (vi) Simmons' relationship with significant customers and licensees; (vii) Simmons' ability to increase prices on its products and the effect of these price increases on its unit sales; (viii) an increase in Simmons' return rates and warranty claims; (ix) Simmons' labor relations; (x) departure of Simmons' key personnel; (xi) encroachments on Simmons' intellectual property; (xii) Simmons' product liability claims; (xiii) Simmons' level of indebtedness; (xiv) interest rate risks; (xv) compliance with covenants in Simmons' debt agreements; (xvi) Simmons' future acquisitions; (xvii) Simmons' ability to achieve the expected benefits from the long-term supply agreement with the combined Sleep Train and Sleep Country USA entities; and (xviii) other risks and factors identified from time to time in Simmons' and Simmons Beddings' reports filed with the Securities and Exchange Commission ("SEC"). Simmons' undertakes no obligation to update or revise any forward-looking statements, either to reflect new developments or for any other reason. ###
[ "EX", "-", "99", ".", "1", "2", "ex99", "_", "1", ".", "htm", "PRESS", "RELEASE", "DATED", "AUGUST", "30", ",", "2006", "ANNOUNCING", "THE", "COMPLETION", "OF", "THE", "SALE", "OF", "SLEEP", "COUNTRY", "USA", "Press", "Release", "dated", "August", "30", ",", "2006", "announcing", "the", "completion", "of", "the", "sale", "of", "Sleep", "Country", "USA", "Contacts", ":", "Alan", "H", ".", "Oshiki", "Broadgate", "Consultants", ",", "Inc", ".", "(", "212", ")", "232", "-", "2222", "William", "S", ".", "Creekmuir", "Simmons", "Company", "(", "770", ")", "392", "-", "6768", "Dale", "R", ".", "Carlsen", "Sleep", "Train", "(", "916", ")", "735", "-", "1300", "For", "Immediate", "Release", "Simmons", "Completes", "Sale", "of", "Sleep", "Country", "USA", "to", "Sleep", "Train", "_________________________________________________________________", "ATLANTA", ",", "August", "30", ",", "2006", "-", "Simmons", "Company", ",", "a", "leading", "manufacturer", "of", "premium", "-", "branded", "bedding", "products", ",", "today", "announced", "the", "completion", "of", "the", "sale", "of", "Sleep", "Country", "USA", ",", "its", "retail", "sales", "business", ",", "to", "an", "affiliate", "of", "The", "Sleep", "Train", ",", "Inc", ".", ",", "a", "leading", "bedding", "retailer", ",", "for", "approximately", "$", "55 million", "in", "cash", ".", "The", "proceeds", "of", "the", "sale", "will", "be", "used", "for", "general", "corporate", "purposes", ".", "As", "previously", "announced", ",", "Simmons", "entered", "into", "a", "multi", "-", "year", "supply", "agreement", "with", "the", "combined", "Sleep", "Train", "and", "Sleep", "Country", "USA", "entities", ".", "This", "agreement", "is", "expected", "to", "generate", "purchases", "in", "excess", "of", "$", "300 million", ".", "\"", "We", "are", "pleased", "to", "complete", "this", "transaction", "with", "Sleep", "Train", ",", "which", "allows", "us", "to", "focus", "on", "growing", "our", "core", "manufacturing", "business", "\"", ",", "said", "Simmons", "'", "Chairman", "and", "Chief", "Executive", "Officer", ",", "Charlie", "Eitel", ".", "Atlanta", "-", "based", "Simmons", "Company", ",", "through", "its", "indirect", "subsidiary", "Simmons", "Bedding", "Company", ",", "is", "one", "of", "the", "world", "'", "s", "largest", "mattress", "manufacturers", ",", "manufacturing", "and", "marketing", "a", "broad", "range", "of", "products", "including", "Beautyrest", "®", ",", "BackCare", "®", ",", "Natural", "Care", "TM", "Latex", ",", "BackCare", "Kids", "®", "and", "Deep", "Sleep", "®", ".", "Simmons", "Bedding", "Company", "operates", "17", "conventional", "bedding", "manufacturing", "facilities", "and", "two", "juvenile", "bedding", "manufacturing", "facilities", "across", "the", "United", "States", "and", "Puerto", "Rico", ".", "Simmons", "is", "committed", "to", "developing", "superior", "mattresses", "and", "promoting", "a", "higher", "quality", "sleep", "for", "consumers", "around", "the", "world", ".", "For", "more", "information", ",", "visit", "the", "Company", "'s", "website", "at", "www.simmons.com", ".", "\"", "SafeHarbor", "\"", "Statement", "under", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ":", "This", "press", "release", "includes", "forward", "-", "looking", "statements", "that", "reflect", "Simmons", "'", "current", "views", "about", "future", "events", "and", "financial", "performance", ".", "Words", "such", "as", "\"", "estimates", ",", "\"", "\"", "expects", "\"", ",", "\"", "anticipates", "\"", ",", "\"", "projects", "\"", ",", "\"", "plans", "\"", ",", "\"", "intends", "\"", ",", "\"", "believes", ",", "\"", "\"", "forecasts", "\"", "and", "variations", "of", "such", "words", "or", "similar", "expressions", "that", "predict", "or", "indicate", "future", "events", ",", "results", "or", "trends", ",", "or", "that", "do", "not", "relate", "to", "historical", "matters", ",", "identify", "forward", "-", "looking", "statements", ".", "The", "forward", "-", "looking", "statements", "in", "this", "press", "release", "speak", "only", "as", "of", "the", "date", "of", "this", "release", ".", "These", "forward", "-", "looking", "statements", "are", "expressed", "in", "good", "faith", "and", "Simmons", "believes", "there", "is", "a", "reasonable", "basis", "for", "them", ".", "However", ",", "there", "can", "be", "no", "assurance", "that", "the", "events", ",", "results", "or", "trends", "identified", "in", "these", "forward", "-", "looking", "statements", "will", "occur", "or", "be", "achieved", ".", "Investors", "should", "not", "rely", "on", "forward", "-", "looking", "statements", "because", "they", "are", "subject", "to", "a", "variety", "of", "risks", ",", "uncertainties", ",", "and", "other", "factors", "that", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "Simmons", "'", "expectations", ".", "These", "factors", "include", ",", "but", "are", "not", "limited", "to", ":", "(", "i", ")", "competitive", "pricing", "pressures", "in", "the", "bedding", "industry", ";", "(", "ii", ")", "legal", "and", "regulatory", "requirements", ";", "(", "iii", ")", "the", "success", "of", "Simmons", "'", "new", "products", ";", "(", "iv", ")", "Simmons", "'", "relationships", "with", "and", "viability", "of", "its", "major", "suppliers", ";", "(", "v", ")", "fluctuations", "in", "Simmons", "'", "costs", "of", "raw", "materials", ";", "(", "vi", ")", "Simmons", "'", "relationship", "with", "significant", "customers", "and", "licensees", ";", "(", "vii", ")", "Simmons", "'", "ability", "to", "increase", "prices", "on", "its", "products", "and", "the", "effect", "of", "these", "price", "increases", "on", "its", "unit", "sales", ";", "(", "viii", ")", "an", "increase", "in", "Simmons", "'", "return", "rates", "and", "warranty", "claims", ";", "(", "ix", ")", "Simmons", "'", "labor", "relations", ";", "(", "x", ")", "departure", "of", "Simmons", "'", "key", "personnel", ";", "(", "xi", ")", "encroachments", "on", "Simmons", "'", "intellectual", "property", ";", "(", "xii", ")", "Simmons", "'", "product", "liability", "claims", ";", "(", "xiii", ")", "Simmons", "'", "level", "of", "indebtedness", ";", "(", "xiv", ")", "interest", "rate", "risks", ";", "(", "xv", ")", "compliance", "with", "covenants", "in", "Simmons", "'", "debt", "agreements", ";", "(", "xvi", ")", "Simmons", "'", "future", "acquisitions", ";", "(", "xvii", ")", "Simmons", "'", "ability", "to", "achieve", "the", "expected", "benefits", "from", "the", "long", "-", "term", "supply", "agreement", "with", "the", "combined", "Sleep", "Train", "and", "Sleep", "Country", "USA", "entities", ";", "and", "(", "xviii", ")", "other", "risks", "and", "factors", "identified", "from", "time", "to", "time", "in", "Simmons", "'", "and", "Simmons", "Beddings", "'", "reports", "filed", "with", "the", "Securities", "and", "Exchange", "Commission", "(", "\"", "SEC", "\"", ")", ".", "Simmons", "'", "undertakes", "no", "obligation", "to", "update", "or", "revise", "any", "forward", "-", "looking", "statements", ",", "either", "to", "reflect", "new", "developments", "or", "for", "any", "other", "reason", ".", "#", "#", "#" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
18926-000001892611000016-exh99-2
EX-99.2 3 exh99-2.htm EXHIBIT 99.2 Unassociated Document Exhibit 99.2 GRAPHIC GRAPHIC FOR IMMEDIATE RELEASE: FOR MORE INFORMATION CONTACT: March 24, 2011 CenturyLink: Debra Peterson, 913-323-4881 [email protected] Qwest: Tom McMahon, 202-429-3106 [email protected] Oregon Public Utility Commission Approves CenturyLink-Qwest Merger Companies Expect to Complete the Transaction and Combine Operations on April 1 MONROE, La. and DENVER - The Public Utility Commission of Oregon (PUC) today issued an order approving the pending merger between CenturyLink, Inc. (NYSE: CTL) and Qwest Communications (NYSE: Q). This is the final approval needed to complete the merger. The PUC conducted a substantive review of the transaction, including agreements on wholesale matters the companies reached with several competitive carriers in Oregon and other states. When the merger is completed, the combined company will serve about 800,000 access lines in the state. As part of the approval process, the companies committed to investing a minimum of $45 million in broadband infrastructure in Oregon over five years. "With the PUC's approval, CenturyLink and Qwest are another step closer to completing the merger and leveraging their combined strength to develop and deploy innovative communications services for Oregon customers", said John F. Jones, vice president of State Government Affairs at CenturyLink. "During the PUC's review of the proposed transaction, both Qwest and CenturyLink demonstrated their strong commitments to customer service, which will continue after the merger is completed and the companies combine operations in Oregon", said Judy Peppler, Qwest Oregon president. The companies expect to close the merger and combine operations on April 1, 2011. As previously announced, the combined company will use the name CenturyLink and its stock will continue to trade on the New York Stock Exchange under CenturyLink's current symbol, CTL. Qwest shares outstanding at the end of the business day immediately prior to the close date will convert to CenturyLink shares on the close date at an exchange rate of 0.1664 share of CenturyLink for each share of Qwest. MERGER UPDATE · The merger has been approved by the commissions in 21 states, the District of Columbia and the FCC. · CenturyLink and Qwest have agreements with Integra Telecom, Cox Communications and other competitive local exchange carriers, and the U.S. Department of Defense in Arizona, Colorado, Utah and Washington. · In October, the Communications Workers of America (CWA) and the International Brotherhood of Electrical Workers (IBEW) agreed that the merger is in the public interest. · Shareholders from both companies approved the merger in August. · The Department of Justice and the Federal Trade Commission cleared the transaction in July after determining there were no antitrust concerns. · As of Dec. 31, 2010, CenturyLink served approximately 2.4 million broadband customers, 6.5 million access lines and almost 628,000 satellite video subscribers. On the same date, Qwest served 2.9 million broadband customers, 8.9 million access lines, more than 1 million video subscribers and more than 1 million wireless customers. The combination will create a robust 180,000-route-mile national fiber network, which will increase the combined company's scale and enable the delivery of a diverse mix of service and product offerings . SUPPORTING RESOURCES · Merger website: centurylinkqwestmerger.com . About CenturyLink CenturyLink is a leading provider of high-quality broadband, entertainment and voice services over its advanced communications networks to consumers and businesses in 33 states. CenturyLink, headquartered in Monroe, La., is an S&P 500 company and is included among the Fortune 500 list of America's largest corporations. For more information on CenturyLink, visit www.centurylink.com . About Qwest Customers coast to coast turn to Qwest's industry-leading national fiber-optic network and world-class customer service to meet their communications and entertainment needs. For residential customers, Qwest offers a new generation of fiber-optic-fast Internet service, high-speed internet solutions, as well as home phone , Verizon Wireless , and DIRECTV® services. Fortune 500 companies and other large businesses and wholesale customers , as well as small businesses and governmental agencies , choose Qwest to deliver a full suite of network, data and voice services. Additionally, Qwest participates in Networx , the largest communications services contract in the world and is recognized as a leader in the network services market by leading technology industry analyst firms. Forward Looking Statements Except for the historical and factual information contained herein, the matters set forth in this communication, including statements regarding the expected timing and benefits of the acquisition such as efficiencies, cost savings, enhanced revenues, growth potential, market profile and financial strength, and the competitive ability and position of the combined company, and other statements identified by words such as "estimates", "expects", "projects", "plans", and similar expressions are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, many of which are beyond our control. Actual events and results may differ materially from those anticipated, estimated or projected if one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect. Factors that could affect actual results include but are not limited to: the ability of the parties to timely and successfully receive the required approvals of regulatory agencies and their respective shareholders; the possibility that the anticipated benefits from the acquisition cannot be fully realized or may take longer to realize than expected; the possibility that costs or difficulties related to the integration of Qwest's operations into CenturyLink will be greater than expected; the ability of the combined company to retain and hire key personnel; the timing, success and overall effects of competition from a wide variety of competitive providers; the risks inherent in rapid technological change; the effects of ongoing changes in the regulation of the communications industry; the ability of the combined company to effectively adjust to changes in the communications industry and to successfully introduce new product or service offerings on a timely and cost-effective basis; any adverse developments in commercial disputes or legal proceedings; the ability of the combined company to utilize net operating losses in amounts projected; changes in our future cash requirements; and other risk factors and cautionary statements as detailed from time to time in each of CenturyLink's and Qwest's reports filed with the Securities and Exchange Commission (SEC). There can be no assurance that the proposed acquisition will in fact be consummated. You should be aware that new factors may emerge from time to time and it is not possible for us to identify all such factors nor can we predict the impact of each such factor on the acquisition or the combined company. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this communication. Unless legally required, CenturyLink and Qwest undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. # # # # # #
[ "EX", "-", "99", ".", "2", "3", "exh99", "-", "2", ".", "htm", "EXHIBIT", "99", ".", "2", "Un", "associated", "Document", "Exhibit", "99", ".", "2", "GRAPHIC", "GRAPHIC", "FOR", "IMMEDIATE", "RELEASE", ":", "FOR", "MORE", "INFORMATION", "CONTACT", ":", "March", "24", ",", "2011", "CenturyLink", ":", "Debra", "Peterson", ",", "913", "-", "323", "-", "4881", "[email protected]", "Qwest", ":", "Tom", "McMahon", ",", "202", "-", "429", "-", "3106", "[email protected]", "Oregon", "Public", "Utility", "Commission", "Approves", "CenturyLink", "-", "Qwest", "Merger", "Companies", "Expect", "to", "Complete", "the", "Transaction", "and", "Combine", "Operations", "on", "April", "1", "MONROE", ",", "La", ".", "and", "DENVER", "-", "The", "Public", "Utility", "Commission", "of", "Oregon", "(", "PUC", ")", "today", "issued", "an", "order", "approving", "the", "pending", "merger", "between", "CenturyLink", ",", "Inc", ".", "(", "NYSE", ":", "CTL", ")", "and", "Qwest", "Communications", "(", "NYSE", ":", "Q", ")", ".", "This", "is", "the", "final", "approval", "needed", "to", "complete", "the", "merger", ".", "The", "PUC", "conducted", "a", "substantive", "review", "of", "the", "transaction", ",", "including", "agreements", "on", "wholesale", "matters", "the", "companies", "reached", "with", "several", "competitive", "carriers", "in", "Oregon", "and", "other", "states", ".", "When", "the", "merger", "is", "completed", ",", "the", "combined", "company", "will", "serve", "about", "800,000", "access", "lines", "in", "the", "state", ".", "As", "part", "of", "the", "approval", "process", ",", "the", "companies", "committed", "to", "investing", "a", "minimum", "of", "$", "45 million", "in", "broadband", "infrastructure", "in", "Oregon", "over", "five", "years", ".", "\"", "With", "the", "PUC", "'s", "approval", ",", "CenturyLink", "and", "Qwest", "are", "another", "step", "closer", "to", "completing", "the", "merger", "and", "leveraging", "their", "combined", "strength", "to", "develop", "and", "deploy", "innovative", "communications", "services", "for", "Oregon", "customers", "\"", ",", "said", "John", "F", ".", "Jones", ",", "vice", "president", "of", "State", "Government", "Affairs", "at", "CenturyLink", ".", "\"", "During", "the", "PUC", "'s", "review", "of", "the", "proposed", "transaction", ",", "both", "Qwest", "and", "CenturyLink", "demonstrated", "their", "strong", "commitments", "to", "customer", "service", ",", "which", "will", "continue", "after", "the", "merger", "is", "completed", "and", "the", "companies", "combine", "operations", "in", "Oregon", "\"", ",", "said", "Judy", "Peppler", ",", "Qwest", "Oregon", "president", ".", "The", "companies", "expect", "to", "close", "the", "merger", "and", "combine", "operations", "on", "April", "1", ",", "2011", ".", "As", "previously", "announced", ",", "the", "combined", "company", "will", "use", "the", "name", "CenturyLink", "and", "its", "stock", "will", "continue", "to", "trade", "on", "the", "New", "York", "Stock", "Exchange", "under", "CenturyLink", "'s", "current", "symbol", ",", "CTL", ".", "Qwest", "shares", "outstanding", "at", "the", "end", "of", "the", "business", "day", "immediately", "prior", "to", "the", "close", "date", "will", "convert", "to", "CenturyLink", "shares", "on", "the", "close", "date", "at", "an", "exchange", "rate", "of", "0", ".", "1664", "share", "of", "CenturyLink", "for", "each", "share", "of", "Qwest", ".", "MERGER", "UPDATE", "·", "The", "merger", "has", "been", "approved", "by", "the", "commissions", "in", "21", "states", ",", "the", "District", "of", "Columbia", "and", "the", "FCC", ".", "·", "CenturyLink", "and", "Qwest", "have", "agreements", "with", "Integra", "Telecom", ",", "Cox", "Communications", "and", "other", "competitive", "local", "exchange", "carriers", ",", "and", "the", "U", ".", "S", ".", "Department", "of", "Defense", "in", "Arizona", ",", "Colorado", ",", "Utah", "and", "Washington", ".", "·", "In", "October", ",", "the", "Communications", "Workers", "of", "America", "(", "CWA", ")", "and", "the", "International", "Brotherhood", "of", "Electrical", "Workers", "(", "IBEW", ")", "agreed", "that", "the", "merger", "is", "in", "the", "public", "interest", ".", "·", "Shareholders", "from", "both", "companies", "approved", "the", "merger", "in", "August", ".", "·", "The", "Department", "of", "Justice", "and", "the", "Federal", "Trade", "Commission", "cleared", "the", "transaction", "in", "July", "after", "determining", "there", "were", "no", "antitrust", "concerns", ".", "·", "As", "of", "Dec.", "31", ",", "2010", ",", "CenturyLink", "served", "approximately", "2", ".", "4", "million", "broadband", "customers", ",", "6", ".", "5", "million", "access", "lines", "and", "almost", "628,000", "satellite", "video", "subscribers", ".", "On", "the", "same", "date", ",", "Qwest", "served", "2", ".", "9", "million", "broadband", "customers", ",", "8", ".", "9", "million", "access", "lines", ",", "more", "than", "1", "million", "video", "subscribers", "and", "more", "than", "1", "million", "wireless", "customers", ".", "The", "combination", "will", "create", "a", "robust", "180,000", "-", "route", "-", "mile", "national", "fiber", "network", ",", "which", "will", "increase", "the", "combined", "company", "'s", "scale", "and", "enable", "the", "delivery", "of", "a", "diverse", "mix", "of", "service", "and", "product", "offerings", ".", "SUPPORTING", "RESOURCES", "·", "Merger", "website", ":", "centurylinkqwestmerger.com", ".", "About", "CenturyLink", "CenturyLink", "is", "a", "leading", "provider", "of", "high", "-", "quality", "broadband", ",", "entertainment", "and", "voice", "services", "over", "its", "advanced", "communications", "networks", "to", "consumers", "and", "businesses", "in", "33", "states", ".", "CenturyLink", ",", "headquartered", "in", "Monroe", ",", "La", ".", ",", "is", "an", "S", "&", "P", "500", "company", "and", "is", "included", "among", "the", "Fortune", "500", "list", "of", "America", "'s", "largest", "corporations", ".", "For", "more", "information", "on", "CenturyLink", ",", "visit", "www.centurylink.com", ".", "About", "Qwest", "Customers", "coast", "to", "coast", "turn", "to", "Qwest", "'s", "industry", "-", "leading", "national", "fiber", "-", "optic", "network", "and", "world", "-", "class", "customer", "service", "to", "meet", "their", "communications", "and", "entertainment", "needs", ".", "For", "residential", "customers", ",", "Qwest", "offers", "a", "new", "generation", "of", "fiber", "-", "optic", "-", "fast", "Internet", "service", ",", "high", "-", "speed", "internet", "solutions", ",", "as", "well", "as", "home", "phone", ",", "Verizon", "Wireless", ",", "and", "DIRECTV", "®", "services", ".", "Fortune", "500", "companies", "and", "other", "large", "businesses", "and", "wholesale", "customers", ",", "as", "well", "as", "small", "businesses", "and", "governmental", "agencies", ",", "choose", "Qwest", "to", "deliver", "a", "full", "suite", "of", "network", ",", "data", "and", "voice", "services", ".", "Additionally", ",", "Qwest", "participates", "in", "Networx", ",", "the", "largest", "communications", "services", "contract", "in", "the", "world", "and", "is", "recognized", "as", "a", "leader", "in", "the", "network", "services", "market", "by", "leading", "technology", "industry", "analyst", "firms", ".", "Forward", "Looking", "Statements", "Except", "for", "the", "historical", "and", "factual", "information", "contained", "herein", ",", "the", "matters", "set", "forth", "in", "this", "communication", ",", "including", "statements", "regarding", "the", "expected", "timing", "and", "benefits", "of", "the", "acquisition", "such", "as", "efficiencies", ",", "cost", "savings", ",", "enhanced", "revenues", ",", "growth", "potential", ",", "market", "profile", "and", "financial", "strength", ",", "and", "the", "competitive", "ability", "and", "position", "of", "the", "combined", "company", ",", "and", "other", "statements", "identified", "by", "words", "such", "as", "\"", "estimates", "\"", ",", "\"", "expects", "\"", ",", "\"", "projects", "\"", ",", "\"", "plans", "\"", ",", "and", "similar", "expressions", "are", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "the", "\"", "safe", "harbor", "\"", "provisions", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "These", "forward", "-", "looking", "statements", "are", "subject", "to", "a", "number", "of", "risks", ",", "uncertainties", "and", "assumptions", ",", "many", "of", "which", "are", "beyond", "our", "control", ".", "Actual", "events", "and", "results", "may", "differ", "materially", "from", "those", "anticipated", ",", "estimated", "or", "projected", "if", "one", "or", "more", "of", "these", "risks", "or", "uncertainties", "materialize", ",", "or", "if", "underlying", "assumptions", "prove", "incorrect", ".", "Factors", "that", "could", "affect", "actual", "results", "include", "but", "are", "not", "limited", "to", ":", "the", "ability", "of", "the", "parties", "to", "timely", "and", "successfully", "receive", "the", "required", "approvals", "of", "regulatory", "agencies", "and", "their", "respective", "shareholders", ";", "the", "possibility", "that", "the", "anticipated", "benefits", "from", "the", "acquisition", "can", "not", "be", "fully", "realized", "or", "may", "take", "longer", "to", "realize", "than", "expected", ";", "the", "possibility", "that", "costs", "or", "difficulties", "related", "to", "the", "integration", "of", "Qwest", "'s", "operations", "into", "CenturyLink", "will", "be", "greater", "than", "expected", ";", "the", "ability", "of", "the", "combined", "company", "to", "retain", "and", "hire", "key", "personnel", ";", "the", "timing", ",", "success", "and", "overall", "effects", "of", "competition", "from", "a", "wide", "variety", "of", "competitive", "providers", ";", "the", "risks", "inherent", "in", "rapid", "technological", "change", ";", "the", "effects", "of", "ongoing", "changes", "in", "the", "regulation", "of", "the", "communications", "industry", ";", "the", "ability", "of", "the", "combined", "company", "to", "effectively", "adjust", "to", "changes", "in", "the", "communications", "industry", "and", "to", "successfully", "introduce", "new", "product", "or", "service", "offerings", "on", "a", "timely", "and", "cost", "-", "effective", "basis", ";", "any", "adverse", "developments", "in", "commercial", "disputes", "or", "legal", "proceedings", ";", "the", "ability", "of", "the", "combined", "company", "to", "utilize", "net", "operating", "losses", "in", "amounts", "projected", ";", "changes", "in", "our", "future", "cash", "requirements", ";", "and", "other", "risk", "factors", "and", "cautionary", "statements", "as", "detailed", "from", "time", "to", "time", "in", "each", "of", "CenturyLink", "'s", "and", "Qwest", "'s", "reports", "filed", "with", "the", "Securities", "and", "Exchange", "Commission", "(", "SEC", ")", ".", "There", "can", "be", "no", "assurance", "that", "the", "proposed", "acquisition", "will", "in", "fact", "be", "consummated", ".", "You", "should", "be", "aware", "that", "new", "factors", "may", "emerge", "from", "time", "to", "time", "and", "it", "is", "not", "possible", "for", "us", "to", "identify", "all", "such", "factors", "nor", "can", "we", "predict", "the", "impact", "of", "each", "such", "factor", "on", "the", "acquisition", "or", "the", "combined", "company", ".", "You", "should", "not", "place", "undue", "reliance", "on", "these", "forward", "-", "looking", "statements", ",", "which", "speak", "only", "as", "of", "the", "date", "of", "this", "communication", ".", "Unless", "legally", "required", ",", "CenturyLink", "and", "Qwest", "undertake", "no", "obligation", "to", "update", "publicly", "any", "forward", "-", "looking", "statements", ",", "whether", "as", "a", "result", "of", "new", "information", ",", "future", "events", "or", "otherwise", ".", "#", "#", "#", "#", "#", "#" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1096791-000114420406034512-v050486_ex99-1
EX-99.1 10 v050486_ex99-1.htm CUSIP# 138 748 108 Trading Symbol: OTC BB CWPC NEWS RELEASE FOR RELEASE: August 15, 2006 CanWest Petroleum announces closing of combination with Oilsands Quest Calgary, Alberta -- CanWest Petroleum Corporation (OTC BB: CWPC) announced today that it has completed its combination transaction (the "Combination") with its subsidiary, Oilsands Quest Inc. As a result of the Combination, which was approved by the Oilsands Quest minority shareholders earlier today, CanWest Petroleum now owns 100 percent of the common voting equity shares of Oilsands Quest. Each common share of Oilsands Quest held by other shareholders was exchanged for 8.23 exchangeable shares of Oilsands Quest (the "Exchangeable Shares"), resulting in the issuance of 76,504,302 Exchangeable Shares on a fully diluted basis. The rights, privileges and restrictions governing the Exchangeable Shares provide that each whole Exchangeable Share may be exchanged for one CanWest Petroleum common share. Through a voting trust arrangement, the holders of Exchangeable Shares are entitled to vote at all meetings of holders of common stock of CanWest Petroleum. Following the Combination, CanWest Petroleum currently has approximately 179,568,196 issued and outstanding common shares (including common shares underlying 57,349,388 Exchangeable shares) and, on a fully diluted basis, 232,165,234 common shares. As part of the Combination, the following events occurred: · The board of directors of CanWest Petroleum was reorganized and is now comprised of T. Murray Wilson (Executive Chairman), Christopher H. Hopkins, Ronald Phillips, Thomas Milne, William Scott Thompson and Gordon Tallman. The officers of the Corporation are now T. Murray Wilson, Executive Chairman; Christopher H. Hopkins, President and Chief Executive Officer; Karim Hirji, Chief Financial Officer; and Errin Kimball, Vice-President, Exploration. · CanWest Petroleum became a reporting issuer in Alberta as of August 11, 2006, and on August 14, 2006, filed on SEDAR (www.sedar.com) its annual filings under National Instrument 51-101 for the year-ended April 30, 2006, comprised of Form 51-101F1 (statement of bitumen exploration activities and other information) and Form 51-101F3 (report of management and directors). As CanWest Petroleum has not attributed any reserves to its properties, it has not filed a Form 51-101F2 (report of independent qualified reserves evaluator or auditor). These filings are also available on CanWest Petroleum's website (www.canwestpetroleum.com). In an earlier news release dated July 6, 2006, the company's management released its estimate of resources which are to be further reported upon by independent third-party estimate. 2 CanWest Petroleum has applied for a listing on a senior U.S. exchange. In addition, the company intends to seek shareholder approval to change its name to Oilsands Quest Inc. or a similar name at its upcoming annual shareholder meeting to be held this fall. Commenting on the Combination, Executive Chairman, T. Murray Wilson, said, "This is a pivotal step in the reorganization of CanWest Petroleum. The combined team is looking forward to capitalizing on the many strengths of both companies". Christopher H. Hopkins, President & CEO, added, "We are very pleased with the Combination and welcome the opportunity to work with all stakeholders". With respect to the Combination, TD Securities Inc. acted as financial advisor to CanWest Petroleum, and CIBC World Markets Inc. acted as financial advisor to Oilsands Quest. Genuity Capital Markets provided the independent committee of the board of directors of Oilsands Quest with its opinion that the consideration to be received by the shareholders of Oilsands Quest upon completion of the Combination was fair from a financial point of view to the shareholders of Oilsands Quest. Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors affecting the companies' operations, markets, products and prices, and including other factors discussed in CanWest Petroleum Corporation's various filings with the Securities and Exchange Commission. For more information: Institutional investors, contact The Buick Group Toll Free Office Email 1-877-748-0914 416-915-0915 [email protected] Retail investors, contact Hedlin Lauder Investor Relations Ltd. Toll Free Office Email 1-800-299-7823 403-232-6251 [email protected]
[ "EX", "-", "99", ".", "1", "10", "v050486", "_", "ex99", "-", "1", ".", "htm", "CUSIP", "#", "138", "748", "108", "Trading", "Symbol", ":", "OTC", "BB", "CWPC", "NEWS", "RELEASE", "FOR", "RELEASE", ":", "August", "15", ",", "2006", "CanWest", "Petroleum", "announces", "closing", "of", "combination", "with", "Oilsands", "Quest", "Calgary", ",", "Alberta", "--", "CanWest", "Petroleum", "Corporation", "(", "OTC", "BB", ":", "CWPC", ")", "announced", "today", "that", "it", "has", "completed", "its", "combination", "transaction", "(", "the", "\"", "Combination", "\"", ")", "with", "its", "subsidiary", ",", "Oilsands", "Quest", "Inc", ".", "As", "a", "result", "of", "the", "Combination", ",", "which", "was", "approved", "by", "the", "Oilsands", "Quest", "minority", "shareholders", "earlier", "today", ",", "CanWest", "Petroleum", "now", "owns", "100", "percent", "of", "the", "common", "voting", "equity", "shares", "of", "Oilsands", "Quest", ".", "Each", "common", "share", "of", "Oilsands", "Quest", "held", "by", "other", "shareholders", "was", "exchanged", "for", "8", ".", "23", "exchangeable", "shares", "of", "Oilsands", "Quest", "(", "the", "\"", "Exchangeable", "Shares", "\"", ")", ",", "resulting", "in", "the", "issuance", "of", "76,504,302", "Exchangeable", "Shares", "on", "a", "fully", "diluted", "basis", ".", "The", "rights", ",", "privileges", "and", "restrictions", "governing", "the", "Exchangeable", "Shares", "provide", "that", "each", "whole", "Exchangeable", "Share", "may", "be", "exchanged", "for", "one", "CanWest", "Petroleum", "common", "share", ".", "Through", "a", "voting", "trust", "arrangement", ",", "the", "holders", "of", "Exchangeable", "Shares", "are", "entitled", "to", "vote", "at", "all", "meetings", "of", "holders", "of", "common", "stock", "of", "CanWest", "Petroleum", ".", "Following", "the", "Combination", ",", "CanWest", "Petroleum", "currently", "has", "approximately", "179,568,196", "issued", "and", "outstanding", "common", "shares", "(", "including", "common", "shares", "underlying", "57,349,388", "Exchangeable", "shares", ")", "and", ",", "on", "a", "fully", "diluted", "basis", ",", "232,165,234", "common", "shares", ".", "As", "part", "of", "the", "Combination", ",", "the", "following", "events", "occurred", ":", "·", "The", "board", "of", "directors", "of", "CanWest", "Petroleum", "was", "reorganized", "and", "is", "now", "comprised", "of", "T", ".", "Murray", "Wilson", "(", "Executive", "Chairman", ")", ",", "Christopher", "H", ".", "Hopkins", ",", "Ronald", "Phillips", ",", "Thomas", "Milne", ",", "William", "Scott", "Thompson", "and", "Gordon", "Tallman", ".", "The", "officers", "of", "the", "Corporation", "are", "now", "T", ".", "Murray", "Wilson", ",", "Executive", "Chairman", ";", "Christopher", "H.", "Hopkins", ",", "President", "and", "Chief", "Executive", "Officer", ";", "Karim", "Hirji", ",", "Chief", "Financial", "Officer", ";", "and", "Errin", "Kimball", ",", "Vice", "-", "President", ",", "Exploration", ".", "·", "CanWest", "Petroleum", "became", "a", "reporting", "issuer", "in", "Alberta", "as", "of", "August", "11", ",", "2006", ",", "and", "on", "August", "14", ",", "2006", ",", "filed", "on", "SEDAR", "(", "www.sedar.com", ")", "its", "annual", "filings", "under", "National", "Instrument", "51", "-", "101", "for", "the", "year", "-", "ended", "April", "30", ",", "2006", ",", "comprised", "of", "Form", "51", "-", "101F1", "(", "statement", "of", "bitumen", "exploration", "activities", "and", "other", "information", ")", "and", "Form", "51", "-", "101F3", "(", "report", "of", "management", "and", "directors", ")", ".", "As", "CanWest", "Petroleum", "has", "not", "attributed", "any", "reserves", "to", "its", "properties", ",", "it", "has", "not", "filed", "a", "Form", "51", "-", "101F2", "(", "report", "of", "independent", "qualified", "reserves", "evaluator", "or", "auditor", ")", ".", "These", "filings", "are", "also", "available", "on", "CanWest", "Petroleum", "'s", "website", "(", "www.canwestpetroleum.com", ")", ".", "In", "an", "earlier", "news", "release", "dated", "July", "6", ",", "2006", ",", "the", "company", "'s", "management", "released", "its", "estimate", "of", "resources", "which", "are", "to", "be", "further", "reported", "upon", "by", "independent", "third", "-", "party", "estimate", ".", "2", "CanWest", "Petroleum", "has", "applied", "for", "a", "listing", "on", "a", "senior", "U", ".", "S", ".", "exchange", ".", "In", "addition", ",", "the", "company", "intends", "to", "seek", "shareholder", "approval", "to", "change", "its", "name", "to", "Oilsands", "Quest", "Inc", ".", "or", "a", "similar", "name", "at", "its", "upcoming", "annual", "shareholder", "meeting", "to", "be", "held", "this", "fall", ".", "Commenting", "on", "the", "Combination", ",", "Executive", "Chairman", ",", "T", ".", "Murray", "Wilson", ",", "said", ",", "\"", "This", "is", "a", "pivotal", "step", "in", "the", "reorganization", "of", "CanWest", "Petroleum", ".", "The", "combined", "team", "is", "looking", "forward", "to", "capitalizing", "on", "the", "many", "strengths", "of", "both", "companies", "\"", ".", "Christopher", "H.", "Hopkins", ",", "President", "&", "CEO", ",", "added", ",", "\"", "We", "are", "very", "pleased", "with", "the", "Combination", "and", "welcome", "the", "opportunity", "to", "work", "with", "all", "stakeholders", "\"", ".", "With", "respect", "to", "the", "Combination", ",", "TD", "Securities", "Inc", ".", "acted", "as", "financial", "advisor", "to", "CanWest", "Petroleum", ",", "and", "CIBC", "World", "Markets", "Inc", ".", "acted", "as", "financial", "advisor", "to", "Oilsands", "Quest", ".", "Genuity", "Capital", "Markets", "provided", "the", "independent", "committee", "of", "the", "board", "of", "directors", "of", "Oilsands", "Quest", "with", "its", "opinion", "that", "the", "consideration", "to", "be", "received", "by", "the", "shareholders", "of", "Oilsands", "Quest", "upon", "completion", "of", "the", "Combination", "was", "fair", "from", "a", "financial", "point", "of", "view", "to", "the", "shareholders", "of", "Oilsands", "Quest", ".", "Safe", "Harbor", "statement", "under", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ":", "Except", "for", "historical", "information", "contained", "herein", ",", "the", "matters", "discussed", "in", "this", "news", "release", "are", "forward", "-", "looking", "statements", "that", "involve", "risks", "and", "uncertainties", ",", "including", "but", "not", "limited", "to", "economic", ",", "competitive", ",", "governmental", "and", "technological", "factors", "affecting", "the", "companies", "'", "operations", ",", "markets", ",", "products", "and", "prices", ",", "and", "including", "other", "factors", "discussed", "in", "CanWest", "Petroleum", "Corporation", "'s", "various", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", ".", "For", "more", "information", ":", "Institutional", "investors", ",", "contact", "The", "Buick", "Group", "Toll", "Free", "Office", "Email", "1", "-", "877", "-", "748", "-", "0914", "416", "-", "915", "-", "0915", "[email protected]", "Retail", "investors", ",", "contact", "Hedlin", "Lauder", "Investor", "Relations", "Ltd", ".", "Toll", "Free", "Office", "Email", "1", "-", "800", "-", "299", "-", "7823", "403", "-", "232", "-", "6251", "[email protected]" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1676580-000161577417000374-s105239_ex99-01
EX-99.01 4 s105239_ex99-01.htm EXHIBIT 99.01 Exhibit 99.01 February 6, 2017 Source: H/Cell Energy Corporation H/Cell Energy Acquires The Pride Group Pty Ltd Flemington, NJ, February 6, 2017 (GLOBE NEWSWIRE) -- H/Cell Energy Corporation (OTCQB-HCCC), a company developing clean energy solutions featuring hydrogen energy systems, has announced that effective January 31, 2017, it has acquired The Pride Group Pty Ltd ("Pride") of Queensland, Australia for 3.8 million shares of H/Cell Energy Corporation common stock which is subject to adjustment if the net tangible asset value does not fall between AUD $200,000 and AUD $300,000 as of the closing date. Founded in 1997, Pride has had a successful history of systems integration for a variety of customers in the government and commercial sector. Pride has three locations and 35 employees and has been a leader in security systems integration www.pridesecurity.com.au and has launched a new clean energy systems division www.prideenergysystems.com.au to focus on the high growth renewable energy market in Asia-Pacific. Steve Mullane, Managing Director of Pride, stated "We are very excited to join forces with H/Cell Energy Corporation. Their hydrogen energy technology is clearly cutting edge and gives us the chance to develop opportunities for clean energy solutions in Asia-Pacific". Andrew Hidalgo, CEO of H/Cell Energy Corporation, commented "H/Cell Energy Corporation is committed to expanding our company organically and through strategic acquisitions. The acquisition of Pride allows the company to establish itself in the Asia-Pacific region where the renewable energy market is experiencing growth. We look forward to successfully assimilating the acquisition and building shareholder value". About H/Cell Energy Corporation: H/Cell Energy is a systems integrator that focuses on the implementation requirements of clean energy solutions including solar, battery technology and hydrogen energy systems. The company serves commercial and government sectors worldwide. Please visit our website at www.hcellenergy.com for more information. Forward Looking Statements: Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "anticipate", "believe," "forecast", "estimate", "expect", and "intend", among others. These forward-looking statements are based on current expectations and actual results could differ materially. H/Cell Energy Corporation does not undertake an obligation to update or revise any forward-looking statement. The information set forth herein speaks only as of the date hereof. H/Cell Energy Corporation Investor Relations 908-837-9097 x-2
[ "EX", "-", "99", ".", "01", "4", "s105239", "_", "ex99", "-", "01", ".", "htm", "EXHIBIT", "99", ".", "01", "Exhibit", "99", ".", "01", "February", "6", ",", "2017", "Source", ":", "H", "/", "Cell", "Energy", "Corporation", "H", "/", "Cell", "Energy", "Acquires", "The", "Pride", "Group", "Pty", "Ltd", "Flemington", ",", "NJ", ",", "February", "6", ",", "2017", "(", "GLOBE", "NEWSWIRE", ")", "--", "H", "/", "Cell", "Energy", "Corporation", "(", "OTCQB", "-", "HCCC", ")", ",", "a", "company", "developing", "clean", "energy", "solutions", "featuring", "hydrogen", "energy", "systems", ",", "has", "announced", "that", "effective", "January", "31", ",", "2017", ",", "it", "has", "acquired", "The", "Pride", "Group", "Pty", "Ltd", "(", "\"", "Pride", "\"", ")", "of", "Queensland", ",", "Australia", "for", "3", ".", "8", "million", "shares", "of", "H", "/", "Cell", "Energy", "Corporation", "common", "stock", "which", "is", "subject", "to", "adjustment", "if", "the", "net", "tangible", "asset", "value", "does", "not", "fall", "between", "AUD", "$", "200,000", "and", "AUD", "$", "300,000", "as", "of", "the", "closing", "date", ".", "Founded", "in", "1997", ",", "Pride", "has", "had", "a", "successful", "history", "of", "systems", "integration", "for", "a", "variety", "of", "customers", "in", "the", "government", "and", "commercial", "sector", ".", "Pride", "has", "three", "locations", "and", "35", "employees", "and", "has", "been", "a", "leader", "in", "security", "systems", "integration", "www.pridesecurity.com.au", "and", "has", "launched", "a", "new", "clean", "energy", "systems", "division", "www.prideenergysystems.com.au", "to", "focus", "on", "the", "high", "growth", "renewable", "energy", "market", "in", "Asia", "-", "Pacific", ".", "Steve", "Mullane", ",", "Managing", "Director", "of", "Pride", ",", "stated", "\"", "We", "are", "very", "excited", "to", "join", "forces", "with", "H", "/", "Cell", "Energy", "Corporation", ".", "Their", "hydrogen", "energy", "technology", "is", "clearly", "cutting", "edge", "and", "gives", "us", "the", "chance", "to", "develop", "opportunities", "for", "clean", "energy", "solutions", "in", "Asia", "-", "Pacific", "\"", ".", "Andrew", "Hidalgo", ",", "CEO", "of", "H", "/", "Cell", "Energy", "Corporation", ",", "commented", "\"", "H", "/", "Cell", "Energy", "Corporation", "is", "committed", "to", "expanding", "our", "company", "organically", "and", "through", "strategic", "acquisitions", ".", "The", "acquisition", "of", "Pride", "allows", "the", "company", "to", "establish", "itself", "in", "the", "Asia", "-", "Pacific", "region", "where", "the", "renewable", "energy", "market", "is", "experiencing", "growth", ".", "We", "look", "forward", "to", "successfully", "assimilating", "the", "acquisition", "and", "building", "shareholder", "value", "\"", ".", "About", "H", "/", "Cell", "Energy", "Corporation", ":", "H", "/", "Cell", "Energy", "is", "a", "systems", "integrator", "that", "focuses", "on", "the", "implementation", "requirements", "of", "clean", "energy", "solutions", "including", "solar", ",", "battery", "technology", "and", "hydrogen", "energy", "systems", ".", "The", "company", "serves", "commercial", "and", "government", "sectors", "worldwide", ".", "Please", "visit", "our", "website", "at", "www.hcellenergy.com", "for", "more", "information", ".", "Forward", "Looking", "Statements", ":", "Certain", "statements", "in", "this", "press", "release", "are", "forward", "-", "looking", "within", "the", "meaning", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "These", "statements", "may", "be", "identified", "by", "the", "use", "of", "forward", "-", "looking", "words", "such", "as", "\"", "anticipate", "\"", ",", "\"", "believe", ",", "\"", "\"", "forecast", "\"", ",", "\"", "estimate", "\"", ",", "\"", "expect", "\"", ",", "and", "\"", "intend", "\"", ",", "among", "others", ".", "These", "forward", "-", "looking", "statements", "are", "based", "on", "current", "expectations", "and", "actual", "results", "could", "differ", "materially", ".", "H", "/", "Cell", "Energy", "Corporation", "does", "not", "undertake", "an", "obligation", "to", "update", "or", "revise", "any", "forward", "-", "looking", "statement", ".", "The", "information", "set", "forth", "herein", "speaks", "only", "as", "of", "the", "date", "hereof", ".", "H", "/", "Cell", "Energy", "Corporation", "Investor", "Relations", "908", "-", "837", "-", "9097", "x", "-", "2" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1474464-000114420417030671-v468208_ex99-1
EX-99.1 10 v468208_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 FOR IMMEDIATE RELEASE NEW YORK REIT COMPLETES OPTION ACQUISITION IN WORLDWIDE PLAZA BRINGING TOTAL OWNERSHIP TO 98.8 PERCENT NEW YORK, NY, June 1, 2017 - New York REIT, Inc. ("NYRT" or the "Company") (NYSE: NYRT), today announced that the Company, through a wholly owned subsidiary, acquired for approximately $276.7 million an additional 49.9% indirect equity interest in Worldwide Plaza, pursuant to the Company's previously announced exercise of its option to purchase additional equity interests under the joint venture agreement governing Worldwide Plaza. As a result of the acquisition, the Company owns a total indirect equity interest of 98.8% in Worldwide Plaza. The remaining 1.2% indirect equity interest in Worldwide Plaza was retained by the Company's joint venture partner pursuant to its rights under the joint venture agreement. Wendy Silverstein, CEO stated, "We are pleased to have completed this acquisition in a timely manner. NYRT is now well positioned to begin the next phase of its liquidation process. We look forward to completing that process as quickly and efficiently as possible with a focus on maximizing shareholder value". Worldwide Plaza is a mixed use building located on Eighth Avenue, between 49th and 50th Streets in Manhattan containing approximately 2.05 million rentable square feet including approximately 1.8 million rentable square feet of office space. Additional information regarding the acquisition can be found in a Form 8-K filed by the Company on June 1, 2017 and available at www.nyrt.com. About NYRT NYRT is a publicly traded real estate investment trust listed on the NYSE that owns income-producing commercial real estate, including office and retail properties, located in New York City. NYRT's shareholders recently adopted a plan of liquidation pursuant to which NYRT is liquidating and winding down and, in connection therewith, is seeking to sell its assets in an orderly fashion to maximize shareholder value. For more information, please visit our website at www.nyrt.com. Forward-Looking Statements "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. The statements in this release state the Company's and management's hopes, intentions, beliefs, expectations or projections of the future and are forward-looking statements for which the Company claims the protections of the safe harbor for forward-looking statements under the Private Securities Litigation Reform Act of 1995. It is important to note that future events and the Company's actual results could differ materially from those described in or contemplated by such forward-looking statements. Factors that could cause actual results to differ materially from current expectations include, but are not limited to, (i) general economic conditions, (ii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or general downturn in their business, (iii) local real estate conditions, (iv) increases in interest rates, (v) increases in operating costs and real estate taxes, (vi) changes in accessibility of debt and equity capital markets and (vii) the timing of asset sales. Additional information concerning factors that could cause actual results to differ materially from those forward-looking statements is contained from time to time in the Company's filings with the Securities and Exchange Commission, copies of which may be obtained from the Company or the Securities and Exchange Commission. The Company refers you to the documents filed by the Company from time to time with the Securities and Exchange Commission, specifically the section titled "Risk Factors" in the Company's most recent Annual Report on Form 10-K, as may be updated or supplemented in the Company's Form 10-Q filings, which discuss these and other factors that could adversely affect the Company's results. Contacts Media: Investor Relations: Jonathan Keehner Wendy Silverstein, Chief Executive Officer Mahmoud Siddig New York REIT, Inc. Joele Frank, Wilkinson Brimmer Katcher [email protected] [email protected] (617) 570-4750 [email protected] (212) 355-4449 Carolyn Tiffany Winthrop REIT Advisors, LLC [email protected] (617) 570-4606
[ "EX", "-", "99", ".", "1", "10", "v468208", "_", "ex99", "-", "1", ".", "htm", "EXHIBIT", "99", ".", "1", "Exhibit", "99", ".", "1", "FOR", "IMMEDIATE", "RELEASE", "NEW", "YORK", "REIT", "COMPLETES", "OPTION", "ACQUISITION", "IN", "WORLDWIDE", "PLAZA", "BRINGING", "TOTAL", "OWNERSHIP", "TO", "98", ".", "8", "PERCENT", "NEW", "YORK", ",", "NY", ",", "June", "1", ",", "2017", "-", "New", "York", "REIT", ",", "Inc", ".", "(", "\"", "NYRT", "\"", "or", "the", "\"", "Company", "\"", ")", "(", "NYSE", ":", "NYRT", ")", ",", "today", "announced", "that", "the", "Company", ",", "through", "a", "wholly", "owned", "subsidiary", ",", "acquired", "for", "approximately", "$", "276.7 million", "an", "additional", "49", ".", "9", "%", "indirect", "equity", "interest", "in", "Worldwide", "Plaza", ",", "pursuant", "to", "the", "Company", "'s", "previously", "announced", "exercise", "of", "its", "option", "to", "purchase", "additional", "equity", "interests", "under", "the", "joint", "venture", "agreement", "governing", "Worldwide", "Plaza", ".", "As", "a", "result", "of", "the", "acquisition", ",", "the", "Company", "owns", "a", "total", "indirect", "equity", "interest", "of", "98", ".", "8", "%", "in", "Worldwide", "Plaza", ".", "The", "remaining", "1", ".", "2", "%", "indirect", "equity", "interest", "in", "Worldwide", "Plaza", "was", "retained", "by", "the", "Company", "'s", "joint", "venture", "partner", "pursuant", "to", "its", "rights", "under", "the", "joint", "venture", "agreement", ".", "Wendy", "Silverstein", ",", "CEO", "stated", ",", "\"", "We", "are", "pleased", "to", "have", "completed", "this", "acquisition", "in", "a", "timely", "manner", ".", "NYRT", "is", "now", "well", "positioned", "to", "begin", "the", "next", "phase", "of", "its", "liquidation", "process", ".", "We", "look", "forward", "to", "completing", "that", "process", "as", "quickly", "and", "efficiently", "as", "possible", "with", "a", "focus", "on", "maximizing", "shareholder", "value", "\"", ".", "Worldwide", "Plaza", "is", "a", "mixed", "use", "building", "located", "on", "Eighth", "Avenue", ",", "between", "49th", "and", "50th", "Streets", "in", "Manhattan", "containing", "approximately", "2", ".", "05", "million", "rentable", "square", "feet", "including", "approximately", "1", ".", "8", "million", "rentable", "square", "feet", "of", "office", "space", ".", "Additional", "information", "regarding", "the", "acquisition", "can", "be", "found", "in", "a", "Form", "8", "-", "K", "filed", "by", "the", "Company", "on", "June", "1", ",", "2017", "and", "available", "at", "www.nyrt.com", ".", "About", "NYRT", "NYRT", "is", "a", "publicly", "traded", "real", "estate", "investment", "trust", "listed", "on", "the", "NYSE", "that", "owns", "income", "-", "producing", "commercial", "real", "estate", ",", "including", "office", "and", "retail", "properties", ",", "located", "in", "New", "York", "City", ".", "NYRT", "'s", "shareholders", "recently", "adopted", "a", "plan", "of", "liquidation", "pursuant", "to", "which", "NYRT", "is", "liquidating", "and", "winding", "down", "and", ",", "in", "connection", "therewith", ",", "is", "seeking", "to", "sell", "its", "assets", "in", "an", "orderly", "fashion", "to", "maximize", "shareholder", "value", ".", "For", "more", "information", ",", "please", "visit", "our", "website", "at", "www.nyrt.com", ".", "Forward", "-", "Looking", "Statements", "\"", "Safe", "Harbor", "\"", "Statement", "under", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "The", "statements", "in", "this", "release", "state", "the", "Company", "'s", "and", "management", "'s", "hopes", ",", "intentions", ",", "beliefs", ",", "expectations", "or", "projections", "of", "the", "future", "and", "are", "forward", "-", "looking", "statements", "for", "which", "the", "Company", "claims", "the", "protections", "of", "the", "safe", "harbor", "for", "forward", "-", "looking", "statements", "under", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "It", "is", "important", "to", "note", "that", "future", "events", "and", "the", "Company", "'s", "actual", "results", "could", "differ", "materially", "from", "those", "described", "in", "or", "contemplated", "by", "such", "forward", "-", "looking", "statements", ".", "Factors", "that", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "current", "expectations", "include", ",", "but", "are", "not", "limited", "to", ",", "(", "i", ")", "general", "economic", "conditions", ",", "(", "ii", ")", "the", "inability", "of", "major", "tenants", "to", "continue", "paying", "their", "rent", "obligations", "due", "to", "bankruptcy", ",", "insolvency", "or", "general", "downturn", "in", "their", "business", ",", "(", "iii", ")", "local", "real", "estate", "conditions", ",", "(", "iv", ")", "increases", "in", "interest", "rates", ",", "(", "v", ")", "increases", "in", "operating", "costs", "and", "real", "estate", "taxes", ",", "(", "vi", ")", "changes", "in", "accessibility", "of", "debt", "and", "equity", "capital", "markets", "and", "(", "vii", ")", "the", "timing", "of", "asset", "sales", ".", "Additional", "information", "concerning", "factors", "that", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "forward", "-", "looking", "statements", "is", "contained", "from", "time", "to", "time", "in", "the", "Company", "'s", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", ",", "copies", "of", "which", "may", "be", "obtained", "from", "the", "Company", "or", "the", "Securities", "and", "Exchange", "Commission", ".", "The", "Company", "refers", "you", "to", "the", "documents", "filed", "by", "the", "Company", "from", "time", "to", "time", "with", "the", "Securities", "and", "Exchange", "Commission", ",", "specifically", "the", "section", "titled", "\"", "Risk", "Factors", "\"", "in", "the", "Company", "'s", "most", "recent", "Annual", "Report", "on", "Form", "10", "-", "K", ",", "as", "may", "be", "updated", "or", "supplemented", "in", "the", "Company", "'s", "Form", "10", "-", "Q", "filings", ",", "which", "discuss", "these", "and", "other", "factors", "that", "could", "adversely", "affect", "the", "Company", "'s", "results", ".", "Contacts", "Media", ":", "Investor", "Relations", ":", "Jonathan", "Keehner", "Wendy", "Silverstein", ",", "Chief", "Executive", "Officer", "Mahmoud", "Siddig", "New", "York", "REIT", ",", "Inc", ".", "Joele", "Frank", ",", "Wilkinson", "Brimmer", "Katcher", "[email protected]", "[email protected]", "(", "617", ")", "570", "-", "4750", "[email protected]", "(", "212", ")", "355", "-", "4449", "Carolyn", "Tiffany", "Winthrop", "REIT", "Advisors", ",", "LLC", "[email protected]", "(", "617", ")", "570", "-", "4606" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1445918-000107997312000926-ex99x1
EX-99.1 2 ex99x1.htm EXHIBIT 99.1 ex99x1.htm Exhibit 99.1 Southern Hospitality Completes Reverse Merger with Art Dimensions, Inc. Colorado Springs, CO., November 14, 2012 - Southern Hospitality Franchise Holding Corporation ("SH") announced the successful completion of a reverse merger and reorganization with Art Dimensions, Inc. ("ADI") (OTCQB: ATDM). As part of the transaction, SH will trade under the ATDM ticker symbol until a new symbol is assigned. The name change of ADI to Southern Hospitality Development Corporation ("SHDC"), and the new trading symbol are expected to be in effect prior to the end of November. Under this reorganization, SHDC is the first official licensed franchisee of Southern Hospitality BBQ restaurants. The acquisition and Statement of Merger were filed and effective with the Colorado Secretary of State on November 13, 2012. Upon closing the acquisition, ADI issued a total number of common shares to SH shareholders in exchange for all previous ownership interests in the Company and SHDC shareholders now own approximately 89%. Through this merger, SHDC obtained the exclusive rights as the first and only official licensed franchisee to own and operate Southern Hospitality BBQ restaurants in and for the ownership and operation of up to 30 Southern Hospitality restaurants in the United States. About Southern Hospitality: SHDC is the first official franchisee of the Southern Hospitality BBQ brand of restaurants with a location in New York City. Southern Hospitality strives to provide guests with fresh, high quality southern inspired food complimented with an appealing selection of popular micro-brews on tap, an immense list of bottled beers and an extensive variety of over 100 bourbons in a hip and high energy environment. The exceptional Memphis-style barbeque, savory dry-rubbed spare ribs, sweet and saucy baby-back ribs and other sensationally southern-style dishes like crispy fried pickles and creamy cheddar grits are all menu items which are unique in today's upscale casual restaurants. SHDC plans to build upon the business model by introducing its food, beverage & service strategies in locations traditionally vibrant with a history of attracting a wide range clientele including persons interested in quality food, night-life and entertainment. It is SHDC's hope that its' distinctive barbeque concept, combined with its unparalleled commitment to service and hospitality will appeal to a wide range of users. SHDC plans on attracting new customers through positive word-of-mouth buzz, traditional advertising channels, media coverage as well as a "strong participation" in many Social Media outlets. In addition, certain Franchisor-owned restaurants may employ their own public relations personnel and engage in numerous promotional activities - such as Bourbon Dinners, BBQ Competitions &Happy Hour Parties to mention a few. SHDC also anticipates hosting fund-raising celebrations to benefit local charities at its restaurants with the support of celebrity personalities. Combine all of this with Southern Hospitality's warm and welcoming promise of genuine hospitality and superior service, and you've captured the essence of what Southern Hospitality will represent. For more information, please visit the website at www.shdcrestaurants.com . Forward-Looking Statements: The information in this news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve risks and uncertainties, including statements regarding the company's business strategy and expectations. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "plan", "intend", "anticipate", "believe", estimate", "predict", "potential", or "continue", the negative of such terms or other comparable terminology. Actual events or results may differ materially. The company disclaims any obligation to publicly update these statements, or disclose any difference between its actual results and those reflected in these statements. The information constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investor Contact: CSIR Group, LLC (212) 386 - 7082 Corporate Contact : JW Roth, Chairman (719) 265 - 5821
[ "EX", "-", "99", ".", "1", "2", "ex99x1", ".", "htm", "EXHIBIT", "99", ".", "1", "ex99x1", ".", "htm", "Exhibit", "99", ".", "1", "Southern", "Hospitality", "Completes", "Reverse", "Merger", "with", "Art", "Dimensions", ",", "Inc", ".", "Colorado", "Springs", ",", "CO", ".", ",", "November", "14", ",", "2012", "-", "Southern", "Hospitality", "Franchise", "Holding", "Corporation", "(", "\"", "SH", "\"", ")", "announced", "the", "successful", "completion", "of", "a", "reverse", "merger", "and", "reorganization", "with", "Art", "Dimensions", ",", "Inc", ".", "(", "\"", "ADI", "\"", ")", "(", "OTCQB", ":", "ATDM", ")", ".", "As", "part", "of", "the", "transaction", ",", "SH", "will", "trade", "under", "the", "ATDM", "ticker", "symbol", "until", "a", "new", "symbol", "is", "assigned", ".", "The", "name", "change", "of", "ADI", "to", "Southern", "Hospitality", "Development", "Corporation", "(", "\"", "SHDC", "\"", ")", ",", "and", "the", "new", "trading", "symbol", "are", "expected", "to", "be", "in", "effect", "prior", "to", "the", "end", "of", "November", ".", "Under", "this", "reorganization", ",", "SHDC", "is", "the", "first", "official", "licensed", "franchisee", "of", "Southern", "Hospitality", "BBQ", "restaurants", ".", "The", "acquisition", "and", "Statement", "of", "Merger", "were", "filed", "and", "effective", "with", "the", "Colorado", "Secretary", "of", "State", "on", "November", "13", ",", "2012", ".", "Upon", "closing", "the", "acquisition", ",", "ADI", "issued", "a", "total", "number", "of", "common", "shares", "to", "SH", "shareholders", "in", "exchange", "for", "all", "previous", "ownership", "interests", "in", "the", "Company", "and", "SHDC", "shareholders", "now", "own", "approximately", "89", "%", ".", "Through", "this", "merger", ",", "SHDC", "obtained", "the", "exclusive", "rights", "as", "the", "first", "and", "only", "official", "licensed", "franchisee", "to", "own", "and", "operate", "Southern", "Hospitality", "BBQ", "restaurants", "in", "and", "for", "the", "ownership", "and", "operation", "of", "up", "to", "30", "Southern", "Hospitality", "restaurants", "in", "the", "United", "States", ".", "About", "Southern", "Hospitality", ":", "SHDC", "is", "the", "first", "official", "franchisee", "of", "the", "Southern", "Hospitality", "BBQ", "brand", "of", "restaurants", "with", "a", "location", "in", "New", "York", "City", ".", "Southern", "Hospitality", "strives", "to", "provide", "guests", "with", "fresh", ",", "high", "quality", "southern", "inspired", "food", "complimented", "with", "an", "appealing", "selection", "of", "popular", "micro", "-", "brews", "on", "tap", ",", "an", "immense", "list", "of", "bottled", "beers", "and", "an", "extensive", "variety", "of", "over", "100", "bourbons", "in", "a", "hip", "and", "high", "energy", "environment", ".", "The", "exceptional", "Memphis", "-", "style", "barbeque", ",", "savory", "dry", "-", "rubbed", "spare", "ribs", ",", "sweet", "and", "saucy", "baby", "-", "back", "ribs", "and", "other", "sensationally", "southern", "-", "style", "dishes", "like", "crispy", "fried", "pickles", "and", "creamy", "cheddar", "grits", "are", "all", "menu", "items", "which", "are", "unique", "in", "today", "'s", "upscale", "casual", "restaurants", ".", "SHDC", "plans", "to", "build", "upon", "the", "business", "model", "by", "introducing", "its", "food", ",", "beverage", "&", "service", "strategies", "in", "locations", "traditionally", "vibrant", "with", "a", "history", "of", "attracting", "a", "wide", "range", "clientele", "including", "persons", "interested", "in", "quality", "food", ",", "night", "-", "life", "and", "entertainment", ".", "It", "is", "SHDC", "'s", "hope", "that", "its", "'", "distinctive", "barbeque", "concept", ",", "combined", "with", "its", "unparalleled", "commitment", "to", "service", "and", "hospitality", "will", "appeal", "to", "a", "wide", "range", "of", "users", ".", "SHDC", "plans", "on", "attracting", "new", "customers", "through", "positive", "word", "-", "of", "-", "mouth", "buzz", ",", "traditional", "advertising", "channels", ",", "media", "coverage", "as", "well", "as", "a", "\"", "strong", "participation", "\"", "in", "many", "Social", "Media", "outlets", ".", "In", "addition", ",", "certain", "Franchisor", "-", "owned", "restaurants", "may", "employ", "their", "own", "public", "relations", "personnel", "and", "engage", "in", "numerous", "promotional", "activities", "-", "such", "as", "Bourbon", "Dinners", ",", "BBQ", "Competitions", "&", "Happy", "Hour", "Parties", "to", "mention", "a", "few", ".", "SHDC", "also", "anticipates", "hosting", "fund", "-", "raising", "celebrations", "to", "benefit", "local", "charities", "at", "its", "restaurants", "with", "the", "support", "of", "celebrity", "personalities", ".", "Combine", "all", "of", "this", "with", "Southern", "Hospitality", "'", "s", "warm", "and", "welcoming", "promise", "of", "genuine", "hospitality", "and", "superior", "service", ",", "and", "you", "'", "ve", "captured", "the", "essence", "of", "what", "Southern", "Hospitality", "will", "represent", ".", "For", "more", "information", ",", "please", "visit", "the", "website", "at", "www.shdcrestaurants.com", ".", "Forward", "-", "Looking", "Statements", ":", "The", "information", "in", "this", "news", "release", "contains", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "Section", "27A", "of", "the", "Securities", "Act", "of", "1933", ",", "as", "amended", ",", "and", "Section", "21E", "of", "the", "Securities", "Exchange", "Act", "of", "1934", ",", "as", "amended", ".", "These", "forward", "-", "looking", "statements", "involve", "risks", "and", "uncertainties", ",", "including", "statements", "regarding", "the", "company", "'s", "business", "strategy", "and", "expectations", ".", "Any", "statements", "contained", "herein", "that", "are", "not", "statements", "of", "historical", "facts", "may", "be", "deemed", "to", "be", "forward", "-", "looking", "statements", ".", "In", "some", "cases", ",", "forward", "-", "looking", "statements", "can", "be", "identified", "by", "terminology", "such", "as", "\"", "may", "\"", ",", "\"", "will", "\"", ",", "\"", "should", "\"", ",", "\"", "expect", "\"", ",", "\"", "plan", "\"", ",", "\"", "intend", "\"", ",", "\"", "anticipate", "\"", ",", "\"", "believe", "\"", ",", "estimate", "\"", ",", "\"", "predict", "\"", ",", "\"", "potential", "\"", ",", "or", "\"", "continue", "\"", ",", "the", "negative", "of", "such", "terms", "or", "other", "comparable", "terminology", ".", "Actual", "events", "or", "results", "may", "differ", "materially", ".", "The", "company", "disclaims", "any", "obligation", "to", "publicly", "update", "these", "statements", ",", "or", "disclose", "any", "difference", "between", "its", "actual", "results", "and", "those", "reflected", "in", "these", "statements", ".", "The", "information", "constitutes", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "Investor", "Contact", ":", "CSIR", "Group", ",", "LLC", "(", "212", ")", "386", "-", "7082", "Corporate", "Contact", ":", "JW", "Roth", ",", "Chairman", "(", "719", ")", "265", "-", "5821" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
919722-000110465911040763-a11-20861_1ex99d1
EX-99.1 2 a11-20861_1ex99d1.htm EX-99.1 EXHIBIT 99.1 News Release SuperGen Completes Acquisition of Astex Therapeutics DUBLIN, Calif., July 20, 2011 - SuperGen, Inc. (NASDAQ: SUPG), a pharmaceutical company dedicated to the discovery and development of novel cancer therapies, announced it has closed the transaction to acquire Astex Therapeutics Limited ("Astex"), a privately held, UK-based biotechnology company developing targeted therapies. Today, Astex Therapeutics Limited became a wholly owned subsidiary of SuperGen, Inc. SuperGen purchased all outstanding shares of Astex for approximately $25 million in cash and 32.4 million shares of SuperGen common stock representing 35 percent of the total post closing shares outstanding. In addition, SuperGen will pay deferred consideration in the amount of $30 million in either stock or cash, at the discretion of the combined entity, over a period of 30 months. SuperGen has assumed all currently outstanding stock options of Astex. "SuperGen is extremely pleased to close the transaction to acquire Astex Therapeutics Limited", said James S. J. Manuso, chairman and chief executive officer of SuperGen. "The resulting company is expected to be a significant force in oncology drug discovery and development, with a robust pipeline, expected potential future milestone-based revenues of up to $2 billion, plus royalties on approved products, and top-tier partnerships with GlaxoSmithKline, Eisai, Johnson & Johnson, Novartis, and AstraZeneca". In the third quarter of 2011, SuperGen intends to change its name to Astex Pharmaceuticals, Inc., and expects to be listed on NASDAQ under the symbol ASTX. Management expects that Astex Pharmaceuticals, Inc. will become recognized as a global leader in innovative oncology drug discovery, development and commercialization, with estimated cash and cash equivalents of more than $120 million post deal closure. The company plans to leverage its royalty revenue stream from Dacogen ® (decitabine) for Injection, marketed in North America by Eisai and in the rest of the world by Cilag GmbH International. The combined company's clinical pipeline includes seven drugs in development, four of which are currently in or entering into Phase II clinical trials and three of which are currently partnered with large pharmaceutical companies. Further information about this transaction is available at http://www.astex-supergen.com, or in the investor relations section of the SuperGen website at http://www.supergen.com. SuperGen plans to provide further information, including revised financial guidance, in its upcoming conference call for the 2011 second quarter. About SuperGen SuperGen is a pharmaceutical company dedicated to the discovery and development of novel cancer therapeutics in epigenetic and cell signaling modulation. The Company develops products through biochemical and clinical proof of concept to partner for further development and commercialization. SuperGen developed Dacogen and receives significant royalties on global sales. For more information about SuperGen, please visit http://www.supergen.com. Contacts: Timothy L. Enns Susanna Chau SuperGen, Inc. SuperGen, Inc. Senior Vice President Manager Corporate Communications & Business Dev. Investor Relations Tel: (925) 560-2810 Tel: (925) 560-2845 E-mail: [email protected] E-mail: [email protected] Alan Roemer Michael Ares The Trout Group Fleishman-Hillard Managing Director Senior Vice President Tel: (646) 378-2945 Tel: (404) 739-0133 E-mail: [email protected] [email protected] Note on Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including but not limited to, statements regarding the combined entity's ability to successfully integrate the development, research and financial operations of two organizations in two overseas locations, be a significant force in oncology drug development with a robust pipeline, meet cash projections, meet drug development milestones relating to up to $2 billion in potential revenues, have successful research and development capabilities, maintain strong partnerships with large pharmaceutical companies, and maintain revenue streams from Dacogen. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those indicated in such forward-looking statements, including, but not limited to, the ability of the parties to successfully integrate Astex Therapeutics Ltd., our ability to successfully change our name and list shares under a new ticker symbol, our expectations about being a global leader in biotech, and such other risks as identified in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2010, the Company's most recent Quarterly Reports on Form 10-Q, and the Company's Proxy Statement filed on May 2, 2011, each as filed with the SEC, which contain and identify important factors that could cause the actual results to differ materially from those contained in the forward-looking statements. The Company assumes no obligation to update any forward-looking statement contained in this press release.
[ "EX", "-", "99", ".", "1", "2", "a11", "-", "20861", "_", "1ex99d1", ".", "htm", "EX", "-", "99", ".", "1", "EXHIBIT", "99", ".", "1", "News", "Release", "SuperGen", "Completes", "Acquisition", "of", "Astex", "Therapeutics", "DUBLIN", ",", "Calif", ".", ",", "July", "20", ",", "2011", "-", "SuperGen", ",", "Inc", ".", "(", "NASDAQ", ":", "SUPG", ")", ",", "a", "pharmaceutical", "company", "dedicated", "to", "the", "discovery", "and", "development", "of", "novel", "cancer", "therapies", ",", "announced", "it", "has", "closed", "the", "transaction", "to", "acquire", "Astex", "Therapeutics", "Limited", "(", "\"", "Astex", "\"", ")", ",", "a", "privately", "held", ",", "UK", "-", "based", "biotechnology", "company", "developing", "targeted", "therapies", ".", "Today", ",", "Astex", "Therapeutics", "Limited", "became", "a", "wholly", "owned", "subsidiary", "of", "SuperGen", ",", "Inc", ".", "SuperGen", "purchased", "all", "outstanding", "shares", "of", "Astex", "for", "approximately", "$", "25 million", "in", "cash", "and", "32", ".", "4", "million", "shares", "of", "SuperGen", "common", "stock", "representing", "35", "percent", "of", "the", "total", "post", "closing", "shares", "outstanding", ".", "In", "addition", ",", "SuperGen", "will", "pay", "deferred", "consideration", "in", "the", "amount", "of", "$", "30 million", "in", "either", "stock", "or", "cash", ",", "at", "the", "discretion", "of", "the", "combined", "entity", ",", "over", "a", "period", "of", "30", "months", ".", "SuperGen", "has", "assumed", "all", "currently", "outstanding", "stock", "options", "of", "Astex", ".", "\"", "SuperGen", "is", "extremely", "pleased", "to", "close", "the", "transaction", "to", "acquire", "Astex", "Therapeutics", "Limited", "\"", ",", "said", "James", "S.", "J", ".", "Manuso", ",", "chairman", "and", "chief", "executive", "officer", "of", "SuperGen", ".", "\"", "The", "resulting", "company", "is", "expected", "to", "be", "a", "significant", "force", "in", "oncology", "drug", "discovery", "and", "development", ",", "with", "a", "robust", "pipeline", ",", "expected", "potential", "future", "milestone", "-", "based", "revenues", "of", "up", "to", "$", "2 billion", ",", "plus", "royalties", "on", "approved", "products", ",", "and", "top", "-", "tier", "partnerships", "with", "GlaxoSmithKline", ",", "Eisai", ",", "Johnson", "&", "Johnson", ",", "Novartis", ",", "and", "AstraZeneca", "\"", ".", "In", "the", "third", "quarter", "of", "2011", ",", "SuperGen", "intends", "to", "change", "its", "name", "to", "Astex", "Pharmaceuticals", ",", "Inc", ".", ",", "and", "expects", "to", "be", "listed", "on", "NASDAQ", "under", "the", "symbol", "ASTX", ".", "Management", "expects", "that", "Astex", "Pharmaceuticals", ",", "Inc", ".", "will", "become", "recognized", "as", "a", "global", "leader", "in", "innovative", "oncology", "drug", "discovery", ",", "development", "and", "commercialization", ",", "with", "estimated", "cash", "and", "cash", "equivalents", "of", "more", "than", "$", "120 million", "post", "deal", "closure", ".", "The", "company", "plans", "to", "leverage", "its", "royalty", "revenue", "stream", "from", "Dacogen", "®", "(", "decitabine", ")", "for", "Injection", ",", "marketed", "in", "North", "America", "by", "Eisai", "and", "in", "the", "rest", "of", "the", "world", "by", "Cilag", "GmbH", "International", ".", "The", "combined", "company", "'s", "clinical", "pipeline", "includes", "seven", "drugs", "in", "development", ",", "four", "of", "which", "are", "currently", "in", "or", "entering", "into", "Phase", "II", "clinical", "trials", "and", "three", "of", "which", "are", "currently", "partnered", "with", "large", "pharmaceutical", "companies", ".", "Further", "information", "about", "this", "transaction", "is", "available", "at", "http://www.astex-supergen.com", ",", "or", "in", "the", "investor", "relations", "section", "of", "the", "SuperGen", "website", "at", "http://www.supergen.com", ".", "SuperGen", "plans", "to", "provide", "further", "information", ",", "including", "revised", "financial", "guidance", ",", "in", "its", "upcoming", "conference", "call", "for", "the", "2011", "second", "quarter", ".", "About", "SuperGen", "SuperGen", "is", "a", "pharmaceutical", "company", "dedicated", "to", "the", "discovery", "and", "development", "of", "novel", "cancer", "therapeutics", "in", "epigenetic", "and", "cell", "signaling", "modulation", ".", "The", "Company", "develops", "products", "through", "biochemical", "and", "clinical", "proof", "of", "concept", "to", "partner", "for", "further", "development", "and", "commercialization", ".", "SuperGen", "developed", "Dacogen", "and", "receives", "significant", "royalties", "on", "global", "sales", ".", "For", "more", "information", "about", "SuperGen", ",", "please", "visit", "http://www.supergen.com", ".", "Contacts", ":", "Timothy", "L", ".", "Enns", "Susanna", "Chau", "SuperGen", ",", "Inc", ".", "SuperGen", ",", "Inc", ".", "Senior", "Vice", "President", "Manager", "Corporate", "Communications", "&", "Business", "Dev", ".", "Investor", "Relations", "Tel", ":", "(", "925", ")", "560", "-", "2810", "Tel", ":", "(", "925", ")", "560", "-", "2845", "E", "-", "mail", ":", "[email protected]", "E", "-", "mail", ":", "[email protected]", "Alan", "Roemer", "Michael", "Ares", "The", "Trout", "Group", "Fleishman-Hillard", "Managing", "Director", "Senior", "Vice", "President", "Tel", ":", "(", "646", ")", "378", "-", "2945", "Tel", ":", "(", "404", ")", "739", "-", "0133", "E", "-", "mail", ":", "[email protected]", "[email protected]", "Note", "on", "Forward", "-", "Looking", "Statements", "This", "press", "release", "contains", "certain", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "Section", "27A", "of", "the", "Securities", "Act", "of", "1933", "and", "Section", "21E", "of", "the", "Securities", "Exchange", "Act", "of", "1934", ",", "including", "but", "not", "limited", "to", ",", "statements", "regarding", "the", "combined", "entity", "'s", "ability", "to", "successfully", "integrate", "the", "development", ",", "research", "and", "financial", "operations", "of", "two", "organizations", "in", "two", "overseas", "locations", ",", "be", "a", "significant", "force", "in", "oncology", "drug", "development", "with", "a", "robust", "pipeline", ",", "meet", "cash", "projections", ",", "meet", "drug", "development", "milestones", "relating", "to", "up", "to", "$", "2 billion", "in", "potential", "revenues", ",", "have", "successful", "research", "and", "development", "capabilities", ",", "maintain", "strong", "partnerships", "with", "large", "pharmaceutical", "companies", ",", "and", "maintain", "revenue", "streams", "from", "Dacogen", ".", "These", "forward", "-", "looking", "statements", "involve", "certain", "risks", "and", "uncertainties", "that", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "indicated", "in", "such", "forward", "-", "looking", "statements", ",", "including", ",", "but", "not", "limited", "to", ",", "the", "ability", "of", "the", "parties", "to", "successfully", "integrate", "Astex", "Therapeutics", "Ltd", ".", ",", "our", "ability", "to", "successfully", "change", "our", "name", "and", "list", "shares", "under", "a", "new", "ticker", "symbol", ",", "our", "expectations", "about", "being", "a", "global", "leader", "in", "biotech", ",", "and", "such", "other", "risks", "as", "identified", "in", "the", "Company", "'s", "Annual", "Report", "on", "Form", "10", "-", "K", "for", "the", "fiscal", "year", "ended", "December", "31", ",", "2010", ",", "the", "Company", "'s", "most", "recent", "Quarterly", "Reports", "on", "Form", "10", "-", "Q", ",", "and", "the", "Company", "'s", "Proxy", "Statement", "filed", "on", "May", "2", ",", "2011", ",", "each", "as", "filed", "with", "the", "SEC", ",", "which", "contain", "and", "identify", "important", "factors", "that", "could", "cause", "the", "actual", "results", "to", "differ", "materially", "from", "those", "contained", "in", "the", "forward", "-", "looking", "statements", ".", "The", "Company", "assumes", "no", "obligation", "to", "update", "any", "forward", "-", "looking", "statement", "contained", "in", "this", "press", "release", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1107206-000111650207001965-ex991
EX-99.1 9 ex991.htm PRESS RELEASE United States Securities and Exchange Commission EDGAR Filing Exhibit 99.1 SPEAR & JACKSON, INC. SHAREHOLDERS APPROVE GOING PRIVATE TRANSACTION Wellington, FL: October 18, 2007: Spear & Jackson, Inc. ("SJCK"), announced that at a special meeting of its shareholder held earlier today, the Company's shareholders approved a transaction (the "Merger") in which the Company will be merged into Pantene Global Acquisition Corp. (the "Acquisition Sub"). As a result of the Merger, each share of common stock of the Company outstanding (other than shares held by dissenting shareholders and the Acquisition Sub's parent companies) will be converted into the right to receive $1.96 in cash. A letter of transmittal setting forth how the Company's shareholders are to tender their shares will be forwarded by the Company to each shareholder promptly after closing. The Merger will close, and trading in the Company's common stock will cease, at 4:00 pm EST on October 18, 2007. __________ This press release contains forward-looking statements that may be subject to various risks and uncertainties. Such forward-looking statements are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and are made based on management's current expectations or beliefs as well as assumptions made by, and information currently available to, management. The forward-looking statements contained in this press release represent our judgment as of the date of this release and you should not unduly rely on such statements. Unless otherwise required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this press release. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in the filing may not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.
[ "EX", "-", "99", ".", "1", "9", "ex991", ".", "htm", "PRESS", "RELEASE", "United", "States", "Securities", "and", "Exchange", "Commission", "EDGAR", "Filing", "Exhibit", "99", ".", "1", "SPEAR", "&", "JACKSON", ",", "INC", ".", "SHAREHOLDERS", "APPROVE", "GOING", "PRIVATE", "TRANSACTION", "Wellington", ",", "FL", ":", "October", "18", ",", "2007", ":", "Spear", "&", "Jackson", ",", "Inc", ".", "(", "\"", "SJCK", "\"", ")", ",", "announced", "that", "at", "a", "special", "meeting", "of", "its", "shareholder", "held", "earlier", "today", ",", "the", "Company", "'s", "shareholders", "approved", "a", "transaction", "(", "the", "\"", "Merger", "\"", ")", "in", "which", "the", "Company", "will", "be", "merged", "into", "Pantene", "Global", "Acquisition", "Corp", ".", "(", "the", "\"", "Acquisition", "Sub", "\"", ")", ".", "As", "a", "result", "of", "the", "Merger", ",", "each", "share", "of", "common", "stock", "of", "the", "Company", "outstanding", "(", "other", "than", "shares", "held", "by", "dissenting", "shareholders", "and", "the", "Acquisition", "Sub", "'s", "parent", "companies", ")", "will", "be", "converted", "into", "the", "right", "to", "receive", "$", "1.96", "in", "cash", ".", "A", "letter", "of", "transmittal", "setting", "forth", "how", "the", "Company", "'s", "shareholders", "are", "to", "tender", "their", "shares", "will", "be", "forwarded", "by", "the", "Company", "to", "each", "shareholder", "promptly", "after", "closing", ".", "The", "Merger", "will", "close", ",", "and", "trading", "in", "the", "Company", "'s", "common", "stock", "will", "cease", ",", "at", "4", ":", "00", "pm", "EST", "on", "October", "18", ",", "2007", ".", "__________", "This", "press", "release", "contains", "forward", "-", "looking", "statements", "that", "may", "be", "subject", "to", "various", "risks", "and", "uncertainties", ".", "Such", "forward", "-", "looking", "statements", "are", "made", "pursuant", "to", "the", "\"", "safe", "harbor", "\"", "provisions", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", "and", "are", "made", "based", "on", "management", "'s", "current", "expectations", "or", "beliefs", "as", "well", "as", "assumptions", "made", "by", ",", "and", "information", "currently", "available", "to", ",", "management", ".", "The", "forward", "-", "looking", "statements", "contained", "in", "this", "press", "release", "represent", "our", "judgment", "as", "of", "the", "date", "of", "this", "release", "and", "you", "should", "not", "unduly", "rely", "on", "such", "statements", ".", "Unless", "otherwise", "required", "by", "law", ",", "we", "undertake", "no", "obligation", "to", "publicly", "update", "or", "revise", "any", "forward", "-", "looking", "statements", ",", "whether", "as", "a", "result", "of", "new", "information", ",", "future", "events", "or", "otherwise", "after", "the", "date", "of", "this", "press", "release", ".", "In", "light", "of", "these", "risks", "and", "uncertainties", ",", "the", "forward", "-", "looking", "events", "and", "circumstances", "discussed", "in", "the", "filing", "may", "not", "occur", ",", "and", "actual", "results", "could", "differ", "materially", "from", "those", "anticipated", "or", "implied", "in", "the", "forward", "-", "looking", "statements", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
798288-000110465905039848-a05-14920_1ex99d1
EX-99.1 2 a05-14920_1ex99d1.htm EX-99.1 Exhibit 99.1 420 Lexington Avenue. New York, NY 10170. (212) 869-3000. FAX (212) 869-3989 FOR IMMEDIATE RELEASE CONTACT: Stacy Slater Senior Vice President - Corporate Communications New Plan Excel Realty Trust, Inc. 212-869-3000 [email protected] NEW PLAN EXCEL REALTY TRUST COMPLETES SALE OF $968 MILLION OF ASSETS - Board of Directors Declares $3.00 Per Common Share Special Distribution - - Board of Directors Declares Third Quarter Regular Dividend - NEW YORK, August 10, 2005 - New Plan Excel Realty Trust, Inc. (NYSE: NXL) today announced that is has completed its previously announced transactions involving the sale of 69 community and neighborhood shopping centers to Galileo America LLC ("the US Partnership") for approximately $968 million, comprised of approximately $928 million in cash and approximately $40 million of equity in the US Partnership, which represents an approximate 5.0 percent equity interest in the US Partnership. As a result of the transactions, the number of community and neighborhood shopping centers owned and managed by New Plan has increased to 441 properties, including those held in the US Partnership and the Company's other joint ventures, totaling over 63.1 million square feet of gross leasable area. In conjunction with the closing of the transactions, the Company's Board of Directors declared a special cash distribution of $3.00 per common share (CUSIP #648053106). The distribution is payable on September 27, 2005 to common stockholders of record on August 25, 2005. The Company's shares go ex-dividend for purposes of the special cash distribution on August 23, 2005. For the third quarter of 2005, the Company's Board of Directors declared a regular cash dividend of $0.3125 per common share (CUSIP #648053106). On an annualized basis, this is the equivalent of $1.25 per share. The dividend is payable on October 17, 2005 to common stockholders of record on October 3, 2005. The Company's shares go ex-dividend for the purposes of the regular quarterly dividend on September 29, 2005. The Board of Directors also declared a dividend of $0.975 per depositary share on its 7.8 percent Series D Cumulative Voting Step-Up Premium Rate Preferred Stock (CUSIP #648053700) to stockholders of record on October 3, 2005, payable on October 17, 2005. In addition, the Board of Directors declared a dividend of $0.47656 per depositary share on its 7.625 percent Series E Cumulative Redeemable Preferred Stock (CUSIP #6480538090) to stockholders of record on October 3, 2005, payable on October 17, 2005. New Plan Excel Realty Trust, Inc. is one of the nation's largest real estate companies, focusing on the ownership and management of community and neighborhood shopping centers. The Company operates as a self-administered and self-managed REIT, with a national portfolio of 461 properties, including 150 properties held through joint ventures, and total assets as of June 30, 2005 of approximately $4.0 billion. The properties are strategically located across 39 states and include 441 community and neighborhood shopping centers, primarily grocery or name-brand discount chain anchored, with approximately 63.1 million square feet of gross leasable area, and 20 related retail real estate assets, with approximately 1.8 million square feet of gross leasable area. Certain statements in this release that are not historical fact may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results of the Company to differ materially from historical results or from any results expressed or implied by such forward-looking statements, including without limitation: national and local economic, business, real estate and other market conditions; the competitive environment in which the Company operates; financing risks; possible future downgrades in our credit ratings; property ownership / management risks; the level and volatility of interest rates and changes in capitalization rates with respect to the acquisition and disposition of properties; financial stability of tenants; the Company's ability to maintain its status as a REIT for federal income tax purposes; acquisition, disposition, development and joint venture risks, including risks that developments and redevelopments are not completed on time or on budget and strategies, actions and performance of affiliates that the Company may not control; potential environmental and other liabilities; and other factors affecting the real estate industry generally. The Company refers you to the documents filed by the Company from time to time with the Securities and Exchange Commission, specifically the section titled "Business-Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2004, which discuss these and other factors that could adversely affect the Company's results. # # #
[ "EX", "-", "99", ".", "1", "2", "a05", "-", "14920", "_", "1ex99d1", ".", "htm", "EX", "-", "99", ".", "1", "Exhibit", "99", ".", "1", "420", "Lexington", "Avenue", ".", "New", "York", ",", "NY", "10170", ".", "(", "212", ")", "869", "-", "3000", ".", "FAX", "(", "212", ")", "869", "-", "3989", "FOR", "IMMEDIATE", "RELEASE", "CONTACT", ":", "Stacy", "Slater", "Senior", "Vice", "President", "-", "Corporate", "Communications", "New", "Plan", "Excel", "Realty", "Trust", ",", "Inc", ".", "212", "-", "869", "-", "3000", "[email protected]", "NEW", "PLAN", "EXCEL", "REALTY", "TRUST", "COMPLETES", "SALE", "OF", "$", "968 MILLION", "OF", "ASSETS", "-", "Board", "of", "Directors", "Declares", "$", "3.00", "Per", "Common", "Share", "Special", "Distribution", "-", "-", "Board", "of", "Directors", "Declares", "Third", "Quarter", "Regular", "Dividend", "-", "NEW", "YORK", ",", "August", "10", ",", "2005", "-", "New", "Plan", "Excel", "Realty", "Trust", ",", "Inc", ".", "(", "NYSE", ":", "NXL", ")", "today", "announced", "that", "is", "has", "completed", "its", "previously", "announced", "transactions", "involving", "the", "sale", "of", "69", "community", "and", "neighborhood", "shopping", "centers", "to", "Galileo", "America", "LLC", "(", "\"", "the", "US", "Partnership", "\"", ")", "for", "approximately", "$", "968 million", ",", "comprised", "of", "approximately", "$", "928 million", "in", "cash", "and", "approximately", "$", "40 million", "of", "equity", "in", "the", "US", "Partnership", ",", "which", "represents", "an", "approximate", "5", ".", "0", "percent", "equity", "interest", "in", "the", "US", "Partnership", ".", "As", "a", "result", "of", "the", "transactions", ",", "the", "number", "of", "community", "and", "neighborhood", "shopping", "centers", "owned", "and", "managed", "by", "New", "Plan", "has", "increased", "to", "441", "properties", ",", "including", "those", "held", "in", "the", "US", "Partnership", "and", "the", "Company", "'s", "other", "joint", "ventures", ",", "totaling", "over", "63.1 million", "square feet", "of", "gross", "leasable", "area", ".", "In", "conjunction", "with", "the", "closing", "of", "the", "transactions", ",", "the", "Company", "'s", "Board", "of", "Directors", "declared", "a", "special", "cash", "distribution", "of", "$", "3.00", "per", "common", "share", "(", "CUSIP", "#", "648053106", ")", ".", "The", "distribution", "is", "payable", "on", "September", "27", ",", "2005", "to", "common", "stockholders", "of", "record", "on", "August", "25", ",", "2005", ".", "The", "Company", "'s", "shares", "go", "ex", "-", "dividend", "for", "purposes", "of", "the", "special", "cash", "distribution", "on", "August", "23", ",", "2005", ".", "For", "the", "third", "quarter", "of", "2005", ",", "the", "Company", "'s", "Board", "of", "Directors", "declared", "a", "regular", "cash", "dividend", "of", "$", "0.3125", "per", "common", "share", "(", "CUSIP", "#", "648053106", ")", ".", "On", "an", "annualized", "basis", ",", "this", "is", "the", "equivalent", "of", "$", "1.25", "per", "share", ".", "The", "dividend", "is", "payable", "on", "October", "17", ",", "2005", "to", "common", "stockholders", "of", "record", "on", "October", "3", ",", "2005", ".", "The", "Company", "'s", "shares", "go", "ex", "-", "dividend", "for", "the", "purposes", "of", "the", "regular", "quarterly", "dividend", "on", "September", "29", ",", "2005", ".", "The", "Board", "of", "Directors", "also", "declared", "a", "dividend", "of", "$", "0.975", "per", "depositary", "share", "on", "its", "7", ".", "8", "percent", "Series", "D", "Cumulative", "Voting", "Step", "-", "Up", "Premium", "Rate", "Preferred", "Stock", "(", "CUSIP", "#", "648053700", ")", "to", "stockholders", "of", "record", "on", "October", "3", ",", "2005", ",", "payable", "on", "October", "17", ",", "2005", ".", "In", "addition", ",", "the", "Board", "of", "Directors", "declared", "a", "dividend", "of", "$", "0.47656", "per", "depositary", "share", "on", "its", "7.625", "percent", "Series", "E", "Cumulative", "Redeemable", "Preferred", "Stock", "(", "CUSIP", "#", "6480538090", ")", "to", "stockholders", "of", "record", "on", "October", "3", ",", "2005", ",", "payable", "on", "October", "17", ",", "2005", ".", "New", "Plan", "Excel", "Realty", "Trust", ",", "Inc", ".", "is", "one", "of", "the", "nation", "'s", "largest", "real", "estate", "companies", ",", "focusing", "on", "the", "ownership", "and", "management", "of", "community", "and", "neighborhood", "shopping", "centers", ".", "The", "Company", "operates", "as", "a", "self", "-", "administered", "and", "self", "-", "managed", "REIT", ",", "with", "a", "national", "portfolio", "of", "461", "properties", ",", "including", "150", "properties", "held", "through", "joint", "ventures", ",", "and", "total", "assets", "as", "of", "June", "30", ",", "2005", "of", "approximately", "$", "4.0", "billion", ".", "The", "properties", "are", "strategically", "located", "across", "39", "states", "and", "include", "441", "community", "and", "neighborhood", "shopping", "centers", ",", "primarily", "grocery", "or", "name", "-", "brand", "discount", "chain", "anchored", ",", "with", "approximately", "63.1 million", "square feet", "of", "gross", "leasable", "area", ",", "and", "20", "related", "retail", "real", "estate", "assets", ",", "with", "approximately", "1", ".", "8", "million", "square", "feet", "of", "gross", "leasable", "area", ".", "Certain", "statements", "in", "this", "release", "that", "are", "not", "historical", "fact", "may", "constitute", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "Such", "forward", "-", "looking", "statements", "involve", "known", "and", "unknown", "risks", ",", "uncertainties", "and", "other", "factors", "which", "may", "cause", "the", "actual", "results", "of", "the", "Company", "to", "differ", "materially", "from", "historical", "results", "or", "from", "any", "results", "expressed", "or", "implied", "by", "such", "forward", "-", "looking", "statements", ",", "including", "without", "limitation", ":", "national", "and", "local", "economic", ",", "business", ",", "real", "estate", "and", "other", "market", "conditions", ";", "the", "competitive", "environment", "in", "which", "the", "Company", "operates", ";", "financing", "risks", ";", "possible", "future", "downgrades", "in", "our", "credit", "ratings", ";", "property", "ownership", "/", "management", "risks", ";", "the", "level", "and", "volatility", "of", "interest", "rates", "and", "changes", "in", "capitalization", "rates", "with", "respect", "to", "the", "acquisition", "and", "disposition", "of", "properties", ";", "financial", "stability", "of", "tenants", ";", "the", "Company", "'s", "ability", "to", "maintain", "its", "status", "as", "a", "REIT", "for", "federal", "income", "tax", "purposes", ";", "acquisition", ",", "disposition", ",", "development", "and", "joint", "venture", "risks", ",", "including", "risks", "that", "developments", "and", "redevelopments", "are", "not", "completed", "on", "time", "or", "on", "budget", "and", "strategies", ",", "actions", "and", "performance", "of", "affiliates", "that", "the", "Company", "may", "not", "control", ";", "potential", "environmental", "and", "other", "liabilities", ";", "and", "other", "factors", "affecting", "the", "real", "estate", "industry", "generally", ".", "The", "Company", "refers", "you", "to", "the", "documents", "filed", "by", "the", "Company", "from", "time", "to", "time", "with", "the", "Securities", "and", "Exchange", "Commission", ",", "specifically", "the", "section", "titled", "\"", "Business", "-", "Risk", "Factors", "\"", "in", "the", "Company", "'s", "Annual", "Report", "on", "Form", "10", "-", "K", "for", "the", "year", "ended", "December", "31", ",", "2004", ",", "which", "discuss", "these", "and", "other", "factors", "that", "could", "adversely", "affect", "the", "Company", "'s", "results", ".", "#", "#", "#" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1335294-000117120010000334-i00149_ex99
EX-99 3 i00149_ex99.htm KeyOn Closes Third Acquisition under Rural UniFi Program KeyOn's seventh acquisition comprises network assets in Illinois OMAHA, NE (April 2, 2010) -- KeyOn Communications Holdings, Inc. (OTCBB: KEYO ), one of the largest providers of wireless broadband, satellite video and voice over Internet protocol (VoIP) services in the United States, announced closing the acquisition of substantially all of the assets of RidgeviewTel's Illinois nework. RidgeviewTel's Illinois network assets and wireless broadband subscribers are adjacent to with KeyOn's existing Illinois markets. As with prior acquisitions, the proximity of the network and other synergies are intended to allow the company to efficiently integrate operations, resulting in immediate expense savings. Jason Lazar, KeyOn's Vice President of Corporate Development and General Counsel, stated, "The RVT network is a great addition to our network footprint in Illinois. Not only does it add to our subscriber base, but also affords us the opportunity to utilize RVT's sophisticated network management software currently operating the network. Rural UniFi is one of our core growth initiatives and we remain in active discussions with several qualified candidates." KeyOn anticipates generating over $150,000 in annualized revenue and deriving EBITDA margins of approximately 50% in connection with the acquired assets. Because of the lack of available broadband options, rural markets are often served by independent wireless operators who provide valuable broadband services to their communities. Estimates put the number of independent wireless broadband companies at over 2,000, making the industry quite fragmented. Historically, without access to capital, these companies can experience growth challenges, as well as inefficient cost structures associated with smaller customer bases. These factors have contributed to the fact that rural markets lag their urban and suburban counterparts in terms of home broadband penetration by over 20 percent (approximately 46% versus 67% broadband penetration for suburban and urban, respectively). "We are pleased to have completed this transaction and believe it is good for RidgeviewTel, KeyOn and the customers served in these markets." commented Vince Jordan, President and CEO of RidgeviewTel."We appreciate KeyOn's strategy for building scale in the rural wireless broadband industry with Rural UniFi and look forward to participating in KeyOn's success". Interested wireless broadband operators can visit KeyOn's unique initiative through the company's website (www.keyon.com/ruralunifi.html) where they can receive more information and begin the qualification process. About KeyOn Communications Holdings, Inc. KeyOn Communications Holdings Inc. (OTC BB: KEYO) is one of the largest providers of wireless broadband, satellite and voice over Internet protocol (VoIP) services in the United States, primarily targeting underserved markets with populations generally less than 50,000. KeyOn offers broadband services with VoIP and satellite video services to both residential and business subscribers across 11 Western and Midwestern states. Through a combination of organic growth and acquisitions, KeyOn has expanded its network footprint to reach approximately 50,000 square miles and cover nearly 2,500,000 people as well as small-to-medium businesses. With its successful track record of acquiring companies and growing its core subscriber base, KeyOn is one of the leading wireless broadband companies in the United States. Management intends to drive subscriber growth through additional acquisitions as well as organic growth across the company's expanding footprint by offering bundled services including broadband, video, VoIP and related valuable services such as the Bullseye Club. The company also intends to opportunistically build mobile and/or nomadic WiMAX networks in and around its market footprint. More information on KeyOn can be found at http://www.keyon.com . Non-GAAP Measures This press release includes disclosure regarding "Adjusted EBITDA" which is a measurement used by KeyOn Communications to monitor business performance and are not recognized measures under GAAP (generally accepted accounting principles). Accordingly, investors are cautioned in using or relying upon these measures as alternatives to recognized GAAP measures. "Adjusted EBITDA" is defined as earnings or loss from operations adjusted for depreciation, amortization, goodwill impairment and non-cash stock based compensation expenses. Adjusted EBITDA should not be construed as an alternative to operating loss as defined by GAAP. Safe Harbor Statement Certain statements contained in this press release are "forward-looking statements" within the meaning of applicable federal securities laws, including, without limitation, anything relating or referring to future financial results and plans for future business development activities, and are thus prospective. Forward-looking statements may include, without limitation, the company's expectations regarding: future financial and operating performance and financial condition; plans, objectives and strategies; product development; industry conditions; the strength of its balance sheet; and liquidity and financing needs. Readers are cautioned not to put undue reliance on such forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside of the company's control, which could cause actual results to differ materially from such statements, including, without limitation, the company's ability to secure ARRA stimulus funding, its ability to successfully complete accretive acquisitions and grow its business organically, the company's reliance on multi-user unlicensed spectrum to service subscribers, competition from larger and better financed providers, the company's reliance on third party sales representatives and new and more burdensome telecommunications' regulations. For a more detailed description of the factors that could cause such a difference, please refer to the company's filings with the Securities and Exchange Commission, including the information under the headings "Risk Factors" and "Forward-Looking Statements" in our Form 10-K filed on April 15, 2009. Consequently, future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements contained herein. The company undertakes no obligation to update or supplement such forward-looking statements. Company Contact: KeyOn Communications Holdings, Inc. Rory Erchul, 402-998-4044 VP of Marketing [email protected] www.keyon.com - or - Investor Relations Contact: Liviakis Financial Communications, Inc. John Liviakis, 415-389-4670 [email protected] www.liviakis.com
[ "EX", "-", "99", "3", "i00149", "_", "ex99", ".", "htm", "KeyOn", "Closes", "Third", "Acquisition", "under", "Rural", "UniFi", "Program", "KeyOn", "'s", "seventh", "acquisition", "comprises", "network", "assets", "in", "Illinois", "OMAHA", ",", "NE", "(", "April", "2", ",", "2010", ")", "--", "KeyOn", "Communications", "Holdings", ",", "Inc", ".", "(", "OTCBB", ":", "KEYO", ")", ",", "one", "of", "the", "largest", "providers", "of", "wireless", "broadband", ",", "satellite", "video", "and", "voice", "over", "Internet", "protocol", "(", "VoIP", ")", "services", "in", "the", "United", "States", ",", "announced", "closing", "the", "acquisition", "of", "substantially", "all", "of", "the", "assets", "of", "RidgeviewTel", "'s", "Illinois", "nework", ".", "RidgeviewTel", "'s", "Illinois", "network", "assets", "and", "wireless", "broadband", "subscribers", "are", "adjacent", "to", "with", "KeyOn", "'s", "existing", "Illinois", "markets", ".", "As", "with", "prior", "acquisitions", ",", "the", "proximity", "of", "the", "network", "and", "other", "synergies", "are", "intended", "to", "allow", "the", "company", "to", "efficiently", "integrate", "operations", ",", "resulting", "in", "immediate", "expense", "savings", ".", "Jason", "Lazar", ",", "KeyOn", "'s", "Vice", "President", "of", "Corporate", "Development", "and", "General", "Counsel", ",", "stated", ",", "\"", "The", "RVT", "network", "is", "a", "great", "addition", "to", "our", "network", "footprint", "in", "Illinois", ".", "Not", "only", "does", "it", "add", "to", "our", "subscriber", "base", ",", "but", "also", "affords", "us", "the", "opportunity", "to", "utilize", "RVT", "'s", "sophisticated", "network", "management", "software", "currently", "operating", "the", "network", ".", "Rural", "UniFi", "is", "one", "of", "our", "core", "growth", "initiatives", "and", "we", "remain", "in", "active", "discussions", "with", "several", "qualified", "candidates", ".", "\"", "KeyOn", "anticipates", "generating", "over", "$", "150,000", "in", "annualized", "revenue", "and", "deriving", "EBITDA", "margins", "of", "approximately", "50", "%", "in", "connection", "with", "the", "acquired", "assets", ".", "Because", "of", "the", "lack", "of", "available", "broadband", "options", ",", "rural", "markets", "are", "often", "served", "by", "independent", "wireless", "operators", "who", "provide", "valuable", "broadband", "services", "to", "their", "communities", ".", "Estimates", "put", "the", "number", "of", "independent", "wireless", "broadband", "companies", "at", "over", "2,000", ",", "making", "the", "industry", "quite", "fragmented", ".", "Historically", ",", "without", "access", "to", "capital", ",", "these", "companies", "can", "experience", "growth", "challenges", ",", "as", "well", "as", "inefficient", "cost", "structures", "associated", "with", "smaller", "customer", "bases", ".", "These", "factors", "have", "contributed", "to", "the", "fact", "that", "rural", "markets", "lag", "their", "urban", "and", "suburban", "counterparts", "in", "terms", "of", "home", "broadband", "penetration", "by", "over", "20", "percent", "(", "approximately", "46", "%", "versus", "67", "%", "broadband", "penetration", "for", "suburban", "and", "urban", ",", "respectively", ")", ".", "\"", "We", "are", "pleased", "to", "have", "completed", "this", "transaction", "and", "believe", "it", "is", "good", "for", "RidgeviewTel", ",", "KeyOn", "and", "the", "customers", "served", "in", "these", "markets", ".", "\"", "commented", "Vince", "Jordan", ",", "President", "and", "CEO", "of", "RidgeviewTel", ".", "\"", "We", "appreciate", "KeyOn", "'s", "strategy", "for", "building", "scale", "in", "the", "rural", "wireless", "broadband", "industry", "with", "Rural", "UniFi", "and", "look", "forward", "to", "participating", "in", "KeyOn", "'s", "success", "\"", ".", "Interested", "wireless", "broadband", "operators", "can", "visit", "KeyOn", "'s", "unique", "initiative", "through", "the", "company", "'s", "website", "(", "www.keyon.com/ruralunifi.html", ")", "where", "they", "can", "receive", "more", "information", "and", "begin", "the", "qualification", "process", ".", "About", "KeyOn", "Communications", "Holdings", ",", "Inc", ".", "KeyOn", "Communications", "Holdings", "Inc", ".", "(", "OTC", "BB", ":", "KEYO", ")", "is", "one", "of", "the", "largest", "providers", "of", "wireless", "broadband", ",", "satellite", "and", "voice", "over", "Internet", "protocol", "(", "VoIP", ")", "services", "in", "the", "United", "States", ",", "primarily", "targeting", "underserved", "markets", "with", "populations", "generally", "less", "than", "50,000", ".", "KeyOn", "offers", "broadband", "services", "with", "VoIP", "and", "satellite", "video", "services", "to", "both", "residential", "and", "business", "subscribers", "across", "11", "Western", "and", "Midwestern", "states", ".", "Through", "a", "combination", "of", "organic", "growth", "and", "acquisitions", ",", "KeyOn", "has", "expanded", "its", "network", "footprint", "to", "reach", "approximately", "50,000", "square miles", "and", "cover", "nearly", "2,500,000", "people", "as", "well", "as", "small", "-", "to", "-", "medium", "businesses", ".", "With", "its", "successful", "track", "record", "of", "acquiring", "companies", "and", "growing", "its", "core", "subscriber", "base", ",", "KeyOn", "is", "one", "of", "the", "leading", "wireless", "broadband", "companies", "in", "the", "United", "States", ".", "Management", "intends", "to", "drive", "subscriber", "growth", "through", "additional", "acquisitions", "as", "well", "as", "organic", "growth", "across", "the", "company", "'s", "expanding", "footprint", "by", "offering", "bundled", "services", "including", "broadband", ",", "video", ",", "VoIP", "and", "related", "valuable", "services", "such", "as", "the", "Bullseye", "Club", ".", "The", "company", "also", "intends", "to", "opportunistically", "build", "mobile", "and", "/", "or", "nomadic", "WiMAX", "networks", "in", "and", "around", "its", "market", "footprint", ".", "More", "information", "on", "KeyOn", "can", "be", "found", "at", "http://www.keyon.com", ".", "Non", "-", "GAAP", "Measures", "This", "press", "release", "includes", "disclosure", "regarding", "\"", "Adjusted", "EBITDA", "\"", "which", "is", "a", "measurement", "used", "by", "KeyOn", "Communications", "to", "monitor", "business", "performance", "and", "are", "not", "recognized", "measures", "under", "GAAP", "(", "generally", "accepted", "accounting", "principles", ")", ".", "Accordingly", ",", "investors", "are", "cautioned", "in", "using", "or", "relying", "upon", "these", "measures", "as", "alternatives", "to", "recognized", "GAAP", "measures", ".", "\"", "Adjusted", "EBITDA", "\"", "is", "defined", "as", "earnings", "or", "loss", "from", "operations", "adjusted", "for", "depreciation", ",", "amortization", ",", "goodwill", "impairment", "and", "non", "-", "cash", "stock", "based", "compensation", "expenses", ".", "Adjusted", "EBITDA", "should", "not", "be", "construed", "as", "an", "alternative", "to", "operating", "loss", "as", "defined", "by", "GAAP", ".", "Safe", "Harbor", "Statement", "Certain", "statements", "contained", "in", "this", "press", "release", "are", "\"", "forward", "-", "looking", "statements", "\"", "within", "the", "meaning", "of", "applicable", "federal", "securities", "laws", ",", "including", ",", "without", "limitation", ",", "anything", "relating", "or", "referring", "to", "future", "financial", "results", "and", "plans", "for", "future", "business", "development", "activities", ",", "and", "are", "thus", "prospective", ".", "Forward", "-", "looking", "statements", "may", "include", ",", "without", "limitation", ",", "the", "company", "'s", "expectations", "regarding", ":", "future", "financial", "and", "operating", "performance", "and", "financial", "condition", ";", "plans", ",", "objectives", "and", "strategies", ";", "product", "development", ";", "industry", "conditions", ";", "the", "strength", "of", "its", "balance", "sheet", ";", "and", "liquidity", "and", "financing", "needs", ".", "Readers", "are", "cautioned", "not", "to", "put", "undue", "reliance", "on", "such", "forward", "-", "looking", "statements", ",", "which", "are", "not", "a", "guarantee", "of", "performance", "and", "are", "subject", "to", "a", "number", "of", "uncertainties", "and", "other", "factors", ",", "many", "of", "which", "are", "outside", "of", "the", "company", "'s", "control", ",", "which", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "such", "statements", ",", "including", ",", "without", "limitation", ",", "the", "company", "'s", "ability", "to", "secure", "ARRA", "stimulus", "funding", ",", "its", "ability", "to", "successfully", "complete", "accretive", "acquisitions", "and", "grow", "its", "business", "organically", ",", "the", "company", "'s", "reliance", "on", "multi", "-", "user", "unlicensed", "spectrum", "to", "service", "subscribers", ",", "competition", "from", "larger", "and", "better", "financed", "providers", ",", "the", "company", "'s", "reliance", "on", "third", "party", "sales", "representatives", "and", "new", "and", "more", "burdensome", "telecommunications", "'", "regulations", ".", "For", "a", "more", "detailed", "description", "of", "the", "factors", "that", "could", "cause", "such", "a", "difference", ",", "please", "refer", "to", "the", "company", "'s", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", ",", "including", "the", "information", "under", "the", "headings", "\"", "Risk", "Factors", "\"", "and", "\"", "Forward", "-", "Looking", "Statements", "\"", "in", "our", "Form", "10", "-", "K", "filed", "on", "April", "15", ",", "2009", ".", "Consequently", ",", "future", "events", "and", "actual", "results", "could", "differ", "materially", "from", "those", "set", "forth", "in", ",", "contemplated", "by", ",", "or", "underlying", "the", "forward", "-", "looking", "statements", "contained", "herein", ".", "The", "company", "undertakes", "no", "obligation", "to", "update", "or", "supplement", "such", "forward", "-", "looking", "statements", ".", "Company", "Contact", ":", "KeyOn", "Communications", "Holdings", ",", "Inc", ".", "Rory", "Erchul", ",", "402", "-", "998", "-", "4044", "VP", "of", "Marketing", "[email protected]", "www.keyon.com", "-", "or", "-", "Investor", "Relations", "Contact", ":", "Liviakis", "Financial", "Communications", ",", "Inc", ".", "John", "Liviakis", ",", "415", "-", "389", "-", "4670", "[email protected]", "www.liviakis.com" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Generic_Info.ANNUAL_REVENUES", "I-Generic_Info.ANNUAL_REVENUES", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1364561-000114420408025290-v112310_ex99-1
EX-99.1 2 v112310_ex99-1.htm Splinternet Expands Its Holdings in Anti-Terrorism Market By Acquiring Vidiation, Inc. Splinternet's Integrated Unattended Sensor Network Detects Radiological Threats Alerting Authorities to Dirty Bombs Norwalk, CT - April 30, 2008: Splinternet Holdings, Inc., (OTC BB: SLNH.OB) announced today that it has closed its acquisition of privately-held Vidiation, Inc., a development-stage radiation detection marketing company whose team of experts will help to implement the commercialization of Splinternet's proven radiation detection architecture and alert system, DefenTect™. Illinois-based Vidiation, Inc., was formed in 2006 to market advanced homeland security technologies as a defense against the worldwide threat of terrorism. Previously, Vidiation and Splinternet had cross-reseller agreements for radiation detection technologies. The companies are committed to creating a critical part of the protection network against radiological terrorism. Splinternet's DefenTect™ gamma radiation detection system integrates a wide-area pervasive grid of sensors, networked via IP, and a Web-enabled management and messaging system. When high-energy gamma rays from dirty bomb substances interact with Splinternet's GammaTect™ sensors, proprietary algorithms analyze the data and alert authorities to radiation that may pose a security threat. "Vidiation and Splinternet are dedicated to developing integrated protection systems to thwart illegal transport of radiological source material", said James Ackerly, CEO of Splinternet. "By working together, next generation radiological detection systems will be accelerated to market". The U.S. regards the prospect of a radiological terrorist attack to be one of its most serious security challenges, according to homeland security experts, Civitas. The availability of a wide range of radioactive materials commonly used in industry potentially provides attackers with increased opportunity to build radiological dispersal devices (RDDs). Cesium-137 , commonly used for treatment in hospitals, or Cobalt-60, used to irradiate food, can be turned into terrorist weapons causing drastic economic, psychological and sociological devastation. DefenTect™ can be deployed in hospitals, at transit sites, seaports, government buildings, package handling facilities, entertainment centers and border crossings to defend against unlawful possession or transport of source materials and ultimately acts of terrorism using radioactive materials. About Splinternet Holdings, Inc. Splinternet Holdings, Inc., based in Norwalk, CT, is a company whose wholly-owned subsidiaries are Vidiation, Inc., and Splinternet Communications, Inc. Splinternet Communications is a developer of products, services and marketing strategies centered around opportunities in Internet communications. Vidiation, Inc., (www.vidiation.com) is a homeland security technology firm marketing radiation detection systems that detect threat level radioactive materials used in the manufacture of dirty bombs and other terrorist devices. Splinternet Holdings is actively seeking investment opportunities in private and publicly-held businesses with strategic technology and market fit which would benefit from using web-based communications. Splinternet is publicly traded (OTC BB: SLNH.OB). For more information on Splinternet go to www.splinter.net Contact: Laura Wessner/Vice President of Corporate Development Splinternet Holdings, Inc. 203-354-9164 [email protected]
[ "EX", "-", "99", ".", "1", "2", "v112310", "_", "ex99", "-", "1", ".", "htm", "Splinternet", "Expands", "Its", "Holdings", "in", "Anti", "-", "Terrorism", "Market", "By", "Acquiring", "Vidiation", ",", "Inc", ".", "Splinternet", "'s", "Integrated", "Unattended", "Sensor", "Network", "Detects", "Radiological", "Threats", "Alerting", "Authorities", "to", "Dirty", "Bombs", "Norwalk", ",", "CT", "-", "April", "30", ",", "2008", ":", "Splinternet", "Holdings", ",", "Inc", ".", ",", "(", "OTC", "BB", ":", "SLNH", ".", "OB", ")", "announced", "today", "that", "it", "has", "closed", "its", "acquisition", "of", "privately", "-", "held", "Vidiation", ",", "Inc", ".", ",", "a", "development", "-", "stage", "radiation", "detection", "marketing", "company", "whose", "team", "of", "experts", "will", "help", "to", "implement", "the", "commercialization", "of", "Splinternet", "'s", "proven", "radiation", "detection", "architecture", "and", "alert", "system", ",", "DefenTect", "™", ".", "Illinois", "-", "based", "Vidiation", ",", "Inc", ".", ",", "was", "formed", "in", "2006", "to", "market", "advanced", "homeland", "security", "technologies", "as", "a", "defense", "against", "the", "worldwide", "threat", "of", "terrorism", ".", "Previously", ",", "Vidiation", "and", "Splinternet", "had", "cross", "-", "reseller", "agreements", "for", "radiation", "detection", "technologies", ".", "The", "companies", "are", "committed", "to", "creating", "a", "critical", "part", "of", "the", "protection", "network", "against", "radiological", "terrorism", ".", "Splinternet", "'s", "DefenTect", "™", "gamma", "radiation", "detection", "system", "integrates", "a", "wide", "-", "area", "pervasive", "grid", "of", "sensors", ",", "networked", "via", "IP", ",", "and", "a", "Web", "-", "enabled", "management", "and", "messaging", "system", ".", "When", "high", "-", "energy", "gamma", "rays", "from", "dirty", "bomb", "substances", "interact", "with", "Splinternet", "'s", "GammaTect", "™", "sensors", ",", "proprietary", "algorithms", "analyze", "the", "data", "and", "alert", "authorities", "to", "radiation", "that", "may", "pose", "a", "security", "threat", ".", "\"", "Vidiation", "and", "Splinternet", "are", "dedicated", "to", "developing", "integrated", "protection", "systems", "to", "thwart", "illegal", "transport", "of", "radiological", "source", "material", "\"", ",", "said", "James", "Ackerly", ",", "CEO", "of", "Splinternet", ".", "\"", "By", "working", "together", ",", "next", "generation", "radiological", "detection", "systems", "will", "be", "accelerated", "to", "market", "\"", ".", "The", "U", ".", "S", ".", "regards", "the", "prospect", "of", "a", "radiological", "terrorist", "attack", "to", "be", "one", "of", "its", "most", "serious", "security", "challenges", ",", "according", "to", "homeland", "security", "experts", ",", "Civitas", ".", "The", "availability", "of", "a", "wide", "range", "of", "radioactive", "materials", "commonly", "used", "in", "industry", "potentially", "provides", "attackers", "with", "increased", "opportunity", "to", "build", "radiological", "dispersal", "devices", "(", "RDDs", ")", ".", "Cesium", "-", "137", ",", "commonly", "used", "for", "treatment", "in", "hospitals", ",", "or", "Cobalt", "-", "60", ",", "used", "to", "irradiate", "food", ",", "can", "be", "turned", "into", "terrorist", "weapons", "causing", "drastic", "economic", ",", "psychological", "and", "sociological", "devastation", ".", "DefenTect", "™", "can", "be", "deployed", "in", "hospitals", ",", "at", "transit", "sites", ",", "seaports", ",", "government", "buildings", ",", "package", "handling", "facilities", ",", "entertainment", "centers", "and", "border", "crossings", "to", "defend", "against", "unlawful", "possession", "or", "transport", "of", "source", "materials", "and", "ultimately", "acts", "of", "terrorism", "using", "radioactive", "materials", ".", "About", "Splinternet", "Holdings", ",", "Inc", ".", "Splinternet", "Holdings", ",", "Inc", ".", ",", "based", "in", "Norwalk", ",", "CT", ",", "is", "a", "company", "whose", "wholly", "-", "owned", "subsidiaries", "are", "Vidiation", ",", "Inc", ".", ",", "and", "Splinternet", "Communications", ",", "Inc", ".", "Splinternet", "Communications", "is", "a", "developer", "of", "products", ",", "services", "and", "marketing", "strategies", "centered", "around", "opportunities", "in", "Internet", "communications", ".", "Vidiation", ",", "Inc", ".", ",", "(", "www.vidiation.com", ")", "is", "a", "homeland", "security", "technology", "firm", "marketing", "radiation", "detection", "systems", "that", "detect", "threat", "level", "radioactive", "materials", "used", "in", "the", "manufacture", "of", "dirty", "bombs", "and", "other", "terrorist", "devices", ".", "Splinternet", "Holdings", "is", "actively", "seeking", "investment", "opportunities", "in", "private", "and", "publicly", "-", "held", "businesses", "with", "strategic", "technology", "and", "market", "fit", "which", "would", "benefit", "from", "using", "web", "-", "based", "communications", ".", "Splinternet", "is", "publicly", "traded", "(", "OTC", "BB", ":", "SLNH", ".", "OB", ")", ".", "For", "more", "information", "on", "Splinternet", "go", "to", "www.splinter.net", "Contact", ":", "Laura", "Wessner", "/", "Vice", "President", "of", "Corporate", "Development", "Splinternet", "Holdings", ",", "Inc", ".", "203", "-", "354", "-", "9164", "[email protected]" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1375796-000110465917050328-a17-19107_1ex99d1
EX-99.1 3 a17-19107_1ex99d1.htm EX-99.1 Exhibit 99.1 FOR IMMEDIATE RELEASE Tremor Video Focuses Business as Pure-Play Sell Side Software Platform Sells Buyer Platform to Taptica · Uniquely Positioned as a High-Growth Programmatic Self Service Video Platform · Transaction Provides $50 Million of Additional Capital for Strategic Investment and Expansion August 7, 2017 - New York - Tremor Video (NYSE: TRMR), a leading video monetization software company, announced today that it has agreed to sell its buyer platform to Taptica International, Ltd (AIM: TAP), a global mobile advertising technology platform, for total consideration of $50 million, subject to adjustments set forth in the acquisition agreement. The transaction is expected to close today August 7, 2017. Transaction Highlights · Tremor Video is now a fully programmatic self-service platform for premium video partners. · Focuses resources to further expand leadership position in Connected TV and OTT. · Provides additional capital for strategic international investment across global sell side portfolio. · Eliminates any perceived friction with third party demand partners. "Today we are at a significant inflection point for Tremor Video", said Paul Caine, Chairman of the Board. "The sale of our buyer platform allows us to focus our investment on the biggest growth-driver of our business. As consumers continue to shift their viewing behavior towards digital video and OTT, we believe there is a large market opportunity to capitalize on these trends as the leading pure play video SSP". Mark Zagorski, CEO, Tremor Video said, "The transaction provides a clear path to accelerate the expansion of our SSP, which has experienced significant growth since its introduction and triple digit growth year-over-year. This strategic decision positions us even more advantageously with premium video publishers and leading DSPs to support the evolution of video advertising by developing the next generation of software and services for premium video content creators across all devices and formats." Mr. Zagorski added, "Our heritage of excellence, innovation and delivering for our clients will continue to be central to the future of Tremor as we move forward with formidable focus and firepower to invest and enhance our platform". Paul Caine added, "The demand business is in great hands with Taptica and we look forward to working with them in the future". The Raine Group acted as exclusive financial advisor on the deal and Cooley LLP acted as legal counsel to Tremor Video in connection with this transaction. RBC Capital Markets acted as exclusive financial advisor and Naschitz, Brandes, Amir & Co. acted as legal counsel to Taptica in connection with this transaction. Conference Call and Webcast: Tremor Video will host a conference call today at 9:00 a.m. ET to discuss the transaction. A live webcast of the event will be available on the Tremor Video Investor Relations website at http://investor.tremorvideo.com. A live domestic dial-in is available at (877) 407-9039 or internationally at (201) 689-8470. Until August 14, 2017, a domestic replay will be available at (844) 512-2921 or internationally at (412) 317-6671, using passcode (13668577), and via webcast on the Tremor Video Investor Relations website. ### About Tremor Video Tremor Video (NYSE: TRMR) is a video monetization software company that helps premium publishers maximize advertising return across mobile, desktop, and OTT video inventory, providing greater control, transparency, safety and effectiveness. Safe Harbor Statement This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, all statements regarding the Company's ability to realize the anticipated benefits and strategic gains from the transaction and receipt of the sale proceeds, all statements regarding the Company's expected future financial position, results of operations, cash flows, business strategy, competitive positions, growth opportunities, plans and objectives of management, and statements containing words such as "anticipate", "approximate", "believe", "plan", "estimate", "expect", "project", "could", "would", "should", "will", "intend", "hope", "may", "potential", "upside", and other similar expressions. Statements in this press release concerning the Company's business outlook or future economic performance, revenues, expenses, or other financial items, together with other statements that are not historical facts, are forward-looking statements that are estimates reflecting the best judgment of the Company based upon currently available information. Such forward-looking statements are inherently uncertain, and stockholders and other potential investors must recognize that actual results may differ materially from the Company's expectations as a result of a variety of factors. Such forward-looking statements are based upon management's current expectations and include known and unknown risks, uncertainties and other factors, many of which the Company is unable to predict or control, that may cause the Company's actual results, performance, or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. These statements involve risks, uncertainties, and other factors detailed from time to time in the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the Securities and Exchange Commission. Many of these factors are beyond the Company's control. The Company cautions investors that any forward-looking statements made by the Company are not guarantees of future performance. The Company disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements to reflect future events or developments. Other important risk factors are discussed in Tremor Video's Form 10-K filed March 10, 2017 with the Securities and Exchange Commission ("SEC"), and in subsequent filings of periodic reports with the SEC. The risk factors discussed in the Form 10-K and subsequently filed periodic reports under the heading "Risk Factors" are specifically incorporated by reference in this press release. Forward-looking statements are based on current expectations and speak only as of the date of such statements. Tremor Video undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information, or otherwise. CONTACT : Tremor Video Investor Relations Andrew Posen, 212-792-2315 [email protected] or John Rego, 732-910-5720 [email protected] or Media Lekha Rao, 646-226-0254 [email protected]
[ "EX", "-", "99", ".", "1", "3", "a17", "-", "19107", "_", "1ex99d1", ".", "htm", "EX", "-", "99", ".", "1", "Exhibit", "99", ".", "1", "FOR", "IMMEDIATE", "RELEASE", "Tremor", "Video", "Focuses", "Business", "as", "Pure", "-", "Play", "Sell", "Side", "Software", "Platform", "Sells", "Buyer", "Platform", "to", "Taptica", "·", "Uniquely", "Positioned", "as", "a", "High", "-", "Growth", "Programmatic", "Self", "Service", "Video", "Platform", "·", "Transaction", "Provides", "$", "50 Million", "of", "Additional", "Capital", "for", "Strategic", "Investment", "and", "Expansion", "August", "7", ",", "2017", "-", "New", "York", "-", "Tremor", "Video", "(", "NYSE", ":", "TRMR", ")", ",", "a", "leading", "video", "monetization", "software", "company", ",", "announced", "today", "that", "it", "has", "agreed", "to", "sell", "its", "buyer", "platform", "to", "Taptica", "International", ",", "Ltd", "(", "AIM", ":", "TAP", ")", ",", "a", "global", "mobile", "advertising", "technology", "platform", ",", "for", "total", "consideration", "of", "$", "50 million", ",", "subject", "to", "adjustments", "set", "forth", "in", "the", "acquisition", "agreement", ".", "The", "transaction", "is", "expected", "to", "close", "today", "August", "7", ",", "2017", ".", "Transaction", "Highlights", "·", "Tremor", "Video", "is", "now", "a", "fully", "programmatic", "self", "-", "service", "platform", "for", "premium", "video", "partners", ".", "·", "Focuses", "resources", "to", "further", "expand", "leadership", "position", "in", "Connected", "TV", "and", "OTT", ".", "·", "Provides", "additional", "capital", "for", "strategic", "international", "investment", "across", "global", "sell", "side", "portfolio", ".", "·", "Eliminates", "any", "perceived", "friction", "with", "third", "party", "demand", "partners", ".", "\"", "Today", "we", "are", "at", "a", "significant", "inflection", "point", "for", "Tremor", "Video", "\"", ",", "said", "Paul", "Caine", ",", "Chairman", "of", "the", "Board", ".", "\"", "The", "sale", "of", "our", "buyer", "platform", "allows", "us", "to", "focus", "our", "investment", "on", "the", "biggest", "growth", "-", "driver", "of", "our", "business", ".", "As", "consumers", "continue", "to", "shift", "their", "viewing", "behavior", "towards", "digital", "video", "and", "OTT", ",", "we", "believe", "there", "is", "a", "large", "market", "opportunity", "to", "capitalize", "on", "these", "trends", "as", "the", "leading", "pure", "play", "video", "SSP", "\"", ".", "Mark", "Zagorski", ",", "CEO", ",", "Tremor", "Video", "said", ",", "\"", "The", "transaction", "provides", "a", "clear", "path", "to", "accelerate", "the", "expansion", "of", "our", "SSP", ",", "which", "has", "experienced", "significant", "growth", "since", "its", "introduction", "and", "triple", "digit", "growth", "year", "-", "over", "-", "year", ".", "This", "strategic", "decision", "positions", "us", "even", "more", "advantageously", "with", "premium", "video", "publishers", "and", "leading", "DSPs", "to", "support", "the", "evolution", "of", "video", "advertising", "by", "developing", "the", "next", "generation", "of", "software", "and", "services", "for", "premium", "video", "content", "creators", "across", "all", "devices", "and", "formats", ".", "\"", "Mr", ".", "Zagorski", "added", ",", "\"", "Our", "heritage", "of", "excellence", ",", "innovation", "and", "delivering", "for", "our", "clients", "will", "continue", "to", "be", "central", "to", "the", "future", "of", "Tremor", "as", "we", "move", "forward", "with", "formidable", "focus", "and", "firepower", "to", "invest", "and", "enhance", "our", "platform", "\"", ".", "Paul", "Caine", "added", ",", "\"", "The", "demand", "business", "is", "in", "great", "hands", "with", "Taptica", "and", "we", "look", "forward", "to", "working", "with", "them", "in", "the", "future", "\"", ".", "The", "Raine", "Group", "acted", "as", "exclusive", "financial", "advisor", "on", "the", "deal", "and", "Cooley", "LLP", "acted", "as", "legal", "counsel", "to", "Tremor", "Video", "in", "connection", "with", "this", "transaction", ".", "RBC", "Capital", "Markets", "acted", "as", "exclusive", "financial", "advisor", "and", "Naschitz", ",", "Brandes", ",", "Amir", "&", "Co", ".", "acted", "as", "legal", "counsel", "to", "Taptica", "in", "connection", "with", "this", "transaction", ".", "Conference", "Call", "and", "Webcast", ":", "Tremor", "Video", "will", "host", "a", "conference", "call", "today", "at", "9", ":", "00", "a.m.", "ET", "to", "discuss", "the", "transaction", ".", "A", "live", "webcast", "of", "the", "event", "will", "be", "available", "on", "the", "Tremor", "Video", "Investor", "Relations", "website", "at", "http://investor.tremorvideo.com", ".", "A", "live", "domestic", "dial", "-", "in", "is", "available", "at", "(", "877", ")", "407", "-", "9039", "or", "internationally", "at", "(", "201", ")", "689", "-", "8470", ".", "Until", "August", "14", ",", "2017", ",", "a", "domestic", "replay", "will", "be", "available", "at", "(", "844", ")", "512", "-", "2921", "or", "internationally", "at", "(", "412", ")", "317", "-", "6671", ",", "using", "passcode", "(", "13668577", ")", ",", "and", "via", "webcast", "on", "the", "Tremor", "Video", "Investor", "Relations", "website", ".", "#", "#", "#", "About", "Tremor", "Video", "Tremor", "Video", "(", "NYSE", ":", "TRMR", ")", "is", "a", "video", "monetization", "software", "company", "that", "helps", "premium", "publishers", "maximize", "advertising", "return", "across", "mobile", ",", "desktop", ",", "and", "OTT", "video", "inventory", ",", "providing", "greater", "control", ",", "transparency", ",", "safety", "and", "effectiveness", ".", "Safe", "Harbor", "Statement", "This", "press", "release", "includes", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "Section", "27A", "of", "the", "Securities", "Act", "of", "1933", ",", "as", "amended", ",", "and", "Section", "21E", "of", "the", "Securities", "Exchange", "Act", "of", "1934", ",", "as", "amended", ".", "These", "forward", "-", "looking", "statements", "include", ",", "but", "are", "not", "limited", "to", ",", "all", "statements", "regarding", "the", "Company", "'s", "ability", "to", "realize", "the", "anticipated", "benefits", "and", "strategic", "gains", "from", "the", "transaction", "and", "receipt", "of", "the", "sale", "proceeds", ",", "all", "statements", "regarding", "the", "Company", "'", "s", "expected", "future", "financial", "position", ",", "results", "of", "operations", ",", "cash", "flows", ",", "business", "strategy", ",", "competitive", "positions", ",", "growth", "opportunities", ",", "plans", "and", "objectives", "of", "management", ",", "and", "statements", "containing", "words", "such", "as", "\"", "anticipate", "\"", ",", "\"", "approximate", "\"", ",", "\"", "believe", "\"", ",", "\"", "plan", "\"", ",", "\"", "estimate", "\"", ",", "\"", "expect", "\"", ",", "\"", "project", "\"", ",", "\"", "could", "\"", ",", "\"", "would", "\"", ",", "\"", "should", "\"", ",", "\"", "will", "\"", ",", "\"", "intend", "\"", ",", "\"", "hope", "\"", ",", "\"", "may", "\"", ",", "\"", "potential", "\"", ",", "\"", "upside", "\"", ",", "and", "other", "similar", "expressions", ".", "Statements", "in", "this", "press", "release", "concerning", "the", "Company", "'s", "business", "outlook", "or", "future", "economic", "performance", ",", "revenues", ",", "expenses", ",", "or", "other", "financial", "items", ",", "together", "with", "other", "statements", "that", "are", "not", "historical", "facts", ",", "are", "forward", "-", "looking", "statements", "that", "are", "estimates", "reflecting", "the", "best", "judgment", "of", "the", "Company", "based", "upon", "currently", "available", "information", ".", "Such", "forward", "-", "looking", "statements", "are", "inherently", "uncertain", ",", "and", "stockholders", "and", "other", "potential", "investors", "must", "recognize", "that", "actual", "results", "may", "differ", "materially", "from", "the", "Company", "'s", "expectations", "as", "a", "result", "of", "a", "variety", "of", "factors", ".", "Such", "forward", "-", "looking", "statements", "are", "based", "upon", "management", "'s", "current", "expectations", "and", "include", "known", "and", "unknown", "risks", ",", "uncertainties", "and", "other", "factors", ",", "many", "of", "which", "the", "Company", "is", "unable", "to", "predict", "or", "control", ",", "that", "may", "cause", "the", "Company", "'s", "actual", "results", ",", "performance", ",", "or", "plans", "to", "differ", "materially", "from", "any", "future", "results", ",", "performance", "or", "plans", "expressed", "or", "implied", "by", "such", "forward", "-", "looking", "statements", ".", "These", "statements", "involve", "risks", ",", "uncertainties", ",", "and", "other", "factors", "detailed", "from", "time", "to", "time", "in", "the", "Company", "'s", "Annual", "Report", "on", "Form", "10", "-", "K", ",", "Quarterly", "Reports", "on", "Form", "10", "-", "Q", "and", "Current", "Reports", "on", "Form", "8", "-", "K", "filed", "with", "the", "Securities", "and", "Exchange", "Commission", ".", "Many", "of", "these", "factors", "are", "beyond", "the", "Company", "'s", "control", ".", "The", "Company", "cautions", "investors", "that", "any", "forward", "-", "looking", "statements", "made", "by", "the", "Company", "are", "not", "guarantees", "of", "future", "performance", ".", "The", "Company", "disclaims", "any", "obligation", "to", "update", "any", "such", "factors", "or", "to", "announce", "publicly", "the", "results", "of", "any", "revisions", "to", "any", "of", "the", "forward", "-", "looking", "statements", "to", "reflect", "future", "events", "or", "developments", ".", "Other", "important", "risk", "factors", "are", "discussed", "in", "Tremor", "Video", "'s", "Form", "10", "-", "K", "filed", "March", "10", ",", "2017", "with", "the", "Securities", "and", "Exchange", "Commission", "(", "\"", "SEC", "\"", ")", ",", "and", "in", "subsequent", "filings", "of", "periodic", "reports", "with", "the", "SEC", ".", "The", "risk", "factors", "discussed", "in", "the", "Form", "10", "-", "K", "and", "subsequently", "filed", "periodic", "reports", "under", "the", "heading", "\"", "Risk", "Factors", "\"", "are", "specifically", "incorporated", "by", "reference", "in", "this", "press", "release", ".", "Forward", "-", "looking", "statements", "are", "based", "on", "current", "expectations", "and", "speak", "only", "as", "of", "the", "date", "of", "such", "statements", ".", "Tremor", "Video", "undertakes", "no", "obligation", "to", "publicly", "update", "or", "revise", "any", "forward", "-", "looking", "statement", ",", "whether", "as", "a", "result", "of", "future", "events", ",", "new", "information", ",", "or", "otherwise", ".", "CONTACT", ":", "Tremor", "Video", "Investor", "Relations", "Andrew", "Posen", ",", "212", "-", "792", "-", "2315", "[email protected]", "or", "John", "Rego", ",", "732", "-", "910", "-", "5720", "[email protected]", "or", "Media", "Lekha", "Rao", ",", "646", "-", "226", "-", "0254", "[email protected]" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "B-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1433551-000121390012000033-f8k122011a1ex99ii_sinogreen
EX-99.2 3 f8k122011a1ex99ii_sinogreen.htm PRESS RELEASE DATED JANUARY 4, 2012 f8k122011a1ex99ii_sinogreen.htm Exhibit 99.2 Sino Green Land Corporation Terminates the Lease and Conveys Rights in One of the Metro Green Buildings and Forms a Special Committee Sino Green Land Corporation (OTCBB: SGLA), a leading distributor of high end fruits and vegetables in China, today announced that the Company entered into an agreement with the contractors of one of the Company's Metro Green buildings to terminate the land lease on one of the Metro Green buildings and convey the Company's rights in the building to the contractors, who are the owners of the building. The contractors returned 40,015,084 shares of common stock to the Company, and the Company conveyed to the contractors all of the Company's rights in the 26,528 square meter building which the contractors had constructed for the Company at a cost of RMB55,708,000 (approximately $8.4 million based on the conversion rate at the time of construction) and which the Company had intended for use in connection with its Metro Green distribution hub. The Company had previously issued the 40,015,084 shares of common stock to the contractors as payment for the construction costs incurred by the contractors. The Company also agreed to pay the Contractors interest on the RMB55,708,000 bank loan incurred by the Contractors for a period of one year. The current interest rate is 6.56% and the current annual interest payments are at the rate of RMB 304,541 per month, or approximately $48,000 at the current exchange rate. Mr. Xiong Luo, CEO and Chairman, stated, "While it was difficult for us to make the decision to terminate the lease on one of the Metro Green buildings, it is a necessary step for us to take to reduce our obligations relating to the Metro Green distribution hub. Because of the lack of financing and the continuing expenses, including lease payments, associated with the operations of a building which is not been used, together with the difficulties relating to the commencement of the Metro Green distribution hub's operations, we entered into this agreement with the contractors. We continue to lease one building for our Metro Green distribution hub operations". The Company's board of directors created a special committee, consisting of Ka Lim (Louis) Liu, Lei Shi, Karen Tse and Wai Yin Cheng, with Wai Yin Cheng as chairman. The special committee was created to consider financing alternatives and strategic relationships which might be available to the Company, with investors and strategic partners both in the United States and elsewhere, including Hong Kong and China. The board recognized the Company's cash requirements, the difficulty of raising money in the United States market, in view of the current market price of the Company's common stock on the OTC Bulletin Board, the absence of any significant trading in the Company's common stock, the concern that United States investors are showing with respect to Chinese companies in general, and the decline in the Company's net income as reflected in the results of its operations for the three and nine months ended September 30, 2011. In its evaluation of potential financing arrangements, the committee was also authorized to consider financings or other transactions which would result in the Company ceasing to be publicly traded in the United States markets. About Sino Green Land Corporation Sino Green Land Corporation is a leading agricultural distributor of high end fruits and vegetables in the People's Republic of China. Since its inception in 2003, Sino Green Land has grown from a small distributor of various produce to become a large distributor of Fuji apples, emperor bananas and tangerine oranges. In the process, Sino Green Land has built a solid reputation, a sophisticated supply chain and a distribution network that stretches from Beijing to Guangzhou. Our website is http://www.sinogreenland.com . Information on our website or any other website does not constitute a part of this press release. Safe Harbor Statement This press release may contain forward-looking statements. Such statements include, among others, those concerning the company's expected financial performance and strategic and operational plans, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results of the Company to differ materially from those anticipated, expressed or implied in the forward-looking statements. The words "believe", "expect", "anticipate", "project", "targets", "optimistic", "intend", "aim", "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from those anticipated include risks related to the company's ability to overcome competition in its market; the impact that a downturn or negative changes in the price of the company's products could have on its business and profitability; the company's ability to simultaneously fund the implementation of its business plan and invest in new projects; economic, political, regulatory, legal and foreign exchange risks associated with international expansion; or the loss of key members of the company's senior management; any of the factors and risks mentioned in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" of the Company's Form 10-K annual report for the year ended December 31, 2010 and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's Form 10-Q for the quarter ended September 30, 2011, as well as information contained in the Company's other filings with the SEC. The Company assumes no obligation to update any forward-looking statements, except as required by law.
[ "EX", "-", "99", ".", "2", "3", "f8k122011a1ex99ii", "_", "sinogreen", ".", "htm", "PRESS", "RELEASE", "DATED", "JANUARY", "4", ",", "2012", "f8k122011a1ex99ii", "_", "sinogreen", ".", "htm", "Exhibit", "99", ".", "2", "Sino", "Green", "Land", "Corporation", "Terminates", "the", "Lease", "and", "Conveys", "Rights", "in", "One", "of", "the", "Metro", "Green", "Buildings", "and", "Forms", "a", "Special", "Committee", "Sino", "Green", "Land", "Corporation", "(", "OTCBB", ":", "SGLA", ")", ",", "a", "leading", "distributor", "of", "high", "end", "fruits", "and", "vegetables", "in", "China", ",", "today", "announced", "that", "the", "Company", "entered", "into", "an", "agreement", "with", "the", "contractors", "of", "one", "of", "the", "Company", "'s", "Metro", "Green", "buildings", "to", "terminate", "the", "land", "lease", "on", "one", "of", "the", "Metro", "Green", "buildings", "and", "convey", "the", "Company", "'s", "rights", "in", "the", "building", "to", "the", "contractors", ",", "who", "are", "the", "owners", "of", "the", "building", ".", "The", "contractors", "returned", "40,015,084", "shares", "of", "common", "stock", "to", "the", "Company", ",", "and", "the", "Company", "conveyed", "to", "the", "contractors", "all", "of", "the", "Company", "'s", "rights", "in", "the", "26,528", "square meter", "building", "which", "the", "contractors", "had", "constructed", "for", "the", "Company", "at", "a", "cost", "of", "RMB", "55,708,000", "(", "approximately", "$", "8.4 million", "based", "on", "the", "conversion", "rate", "at", "the", "time", "of", "construction", ")", "and", "which", "the", "Company", "had", "intended", "for", "use", "in", "connection", "with", "its", "Metro", "Green", "distribution", "hub", ".", "The", "Company", "had", "previously", "issued", "the", "40,015,084", "shares", "of", "common", "stock", "to", "the", "contractors", "as", "payment", "for", "the", "construction", "costs", "incurred", "by", "the", "contractors", ".", "The", "Company", "also", "agreed", "to", "pay", "the", "Contractors", "interest", "on", "the", "RMB", "55,708,000", "bank", "loan", "incurred", "by", "the", "Contractors", "for", "a", "period", "of", "one", "year", ".", "The", "current", "interest", "rate", "is", "6", ".", "56", "%", "and", "the", "current", "annual", "interest", "payments", "are", "at", "the", "rate", "of", "RMB", "304,541", "per", "month", ",", "or", "approximately", "$", "48,000", "at", "the", "current", "exchange", "rate", ".", "Mr", ".", "Xiong", "Luo", ",", "CEO", "and", "Chairman", ",", "stated", ",", "\"", "While", "it", "was", "difficult", "for", "us", "to", "make", "the", "decision", "to", "terminate", "the", "lease", "on", "one", "of", "the", "Metro", "Green", "buildings", ",", "it", "is", "a", "necessary", "step", "for", "us", "to", "take", "to", "reduce", "our", "obligations", "relating", "to", "the", "Metro", "Green", "distribution", "hub", ".", "Because", "of", "the", "lack", "of", "financing", "and", "the", "continuing", "expenses", ",", "including", "lease", "payments", ",", "associated", "with", "the", "operations", "of", "a", "building", "which", "is", "not", "been", "used", ",", "together", "with", "the", "difficulties", "relating", "to", "the", "commencement", "of", "the", "Metro", "Green", "distribution", "hub", "'s", "operations", ",", "we", "entered", "into", "this", "agreement", "with", "the", "contractors", ".", "We", "continue", "to", "lease", "one", "building", "for", "our", "Metro", "Green", "distribution", "hub", "operations", "\"", ".", "The", "Company", "'s", "board", "of", "directors", "created", "a", "special", "committee", ",", "consisting", "of", "Ka", "Lim", "(", "Louis", ")", "Liu", ",", "Lei", "Shi", ",", "Karen", "Tse", "and", "Wai", "Yin", "Cheng", ",", "with", "Wai", "Yin", "Cheng", "as", "chairman", ".", "The", "special", "committee", "was", "created", "to", "consider", "financing", "alternatives", "and", "strategic", "relationships", "which", "might", "be", "available", "to", "the", "Company", ",", "with", "investors", "and", "strategic", "partners", "both", "in", "the", "United", "States", "and", "elsewhere", ",", "including", "Hong", "Kong", "and", "China", ".", "The", "board", "recognized", "the", "Company", "'s", "cash", "requirements", ",", "the", "difficulty", "of", "raising", "money", "in", "the", "United", "States", "market", ",", "in", "view", "of", "the", "current", "market", "price", "of", "the", "Company", "'s", "common", "stock", "on", "the", "OTC", "Bulletin", "Board", ",", "the", "absence", "of", "any", "significant", "trading", "in", "the", "Company", "'s", "common", "stock", ",", "the", "concern", "that", "United", "States", "investors", "are", "showing", "with", "respect", "to", "Chinese", "companies", "in", "general", ",", "and", "the", "decline", "in", "the", "Company", "'s", "net", "income", "as", "reflected", "in", "the", "results", "of", "its", "operations", "for", "the", "three", "and", "nine", "months", "ended", "September", "30", ",", "2011", ".", "In", "its", "evaluation", "of", "potential", "financing", "arrangements", ",", "the", "committee", "was", "also", "authorized", "to", "consider", "financings", "or", "other", "transactions", "which", "would", "result", "in", "the", "Company", "ceasing", "to", "be", "publicly", "traded", "in", "the", "United", "States", "markets", ".", "About", "Sino", "Green", "Land", "Corporation", "Sino", "Green", "Land", "Corporation", "is", "a", "leading", "agricultural", "distributor", "of", "high", "end", "fruits", "and", "vegetables", "in", "the", "People", "'", "s", "Republic", "of", "China", ".", "Since", "its", "inception", "in", "2003", ",", "Sino", "Green", "Land", "has", "grown", "from", "a", "small", "distributor", "of", "various", "produce", "to", "become", "a", "large", "distributor", "of", "Fuji", "apples", ",", "emperor", "bananas", "and", "tangerine", "oranges", ".", "In", "the", "process", ",", "Sino", "Green", "Land", "has", "built", "a", "solid", "reputation", ",", "a", "sophisticated", "supply", "chain", "and", "a", "distribution", "network", "that", "stretches", "from", "Beijing", "to", "Guangzhou", ".", "Our", "website", "is", "http://www.sinogreenland.com", ".", "Information", "on", "our", "website", "or", "any", "other", "website", "does", "not", "constitute", "a", "part", "of", "this", "press", "release", ".", "Safe", "Harbor", "Statement", "This", "press", "release", "may", "contain", "forward", "-", "looking", "statements", ".", "Such", "statements", "include", ",", "among", "others", ",", "those", "concerning", "the", "company", "'s", "expected", "financial", "performance", "and", "strategic", "and", "operational", "plans", ",", "as", "well", "as", "all", "assumptions", ",", "expectations", ",", "predictions", ",", "intentions", "or", "beliefs", "about", "future", "events", ".", "Readers", "are", "cautioned", "that", "any", "such", "forward", "-", "looking", "statements", "are", "not", "guarantees", "of", "future", "performance", "and", "that", "a", "number", "of", "risks", "and", "uncertainties", "could", "cause", "actual", "results", "of", "the", "Company", "to", "differ", "materially", "from", "those", "anticipated", ",", "expressed", "or", "implied", "in", "the", "forward", "-", "looking", "statements", ".", "The", "words", "\"", "believe", "\"", ",", "\"", "expect", "\"", ",", "\"", "anticipate", "\"", ",", "\"", "project", "\"", ",", "\"", "targets", "\"", ",", "\"", "optimistic", "\"", ",", "\"", "intend", "\"", ",", "\"", "aim", "\"", ",", "\"", "will", "\"", "or", "similar", "expressions", "are", "intended", "to", "identify", "forward", "-", "looking", "statements", ".", "All", "statements", "other", "than", "statements", "of", "historical", "fact", "are", "statements", "that", "could", "be", "deemed", "forward", "-", "looking", "statements", ".", "Risks", "and", "uncertainties", "that", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "anticipated", "include", "risks", "related", "to", "the", "company", "'s", "ability", "to", "overcome", "competition", "in", "its", "market", ";", "the", "impact", "that", "a", "downturn", "or", "negative", "changes", "in", "the", "price", "of", "the", "company", "'s", "products", "could", "have", "on", "its", "business", "and", "profitability", ";", "the", "company", "'s", "ability", "to", "simultaneously", "fund", "the", "implementation", "of", "its", "business", "plan", "and", "invest", "in", "new", "projects", ";", "economic", ",", "political", ",", "regulatory", ",", "legal", "and", "foreign", "exchange", "risks", "associated", "with", "international", "expansion", ";", "or", "the", "loss", "of", "key", "members", "of", "the", "company", "'s", "senior", "management", ";", "any", "of", "the", "factors", "and", "risks", "mentioned", "in", "the", "\"", "Risk", "Factors", "\"", "and", "\"", "Management", "'s", "Discussion", "and", "Analysis", "of", "Financial", "Condition", "and", "Results", "of", "Operations", "\"", "of", "the", "Company", "'s", "Form", "10", "-", "K", "annual", "report", "for", "the", "year", "ended", "December", "31", ",", "2010", "and", "\"", "Management", "'s", "Discussion", "and", "Analysis", "of", "Financial", "Condition", "and", "Results", "of", "Operations", "\"", "in", "the", "Company", "'s", "Form", "10", "-", "Q", "for", "the", "quarter", "ended", "September", "30", ",", "2011", ",", "as", "well", "as", "information", "contained", "in", "the", "Company", "'s", "other", "filings", "with", "the", "SEC", ".", "The", "Company", "assumes", "no", "obligation", "to", "update", "any", "forward", "-", "looking", "statements", ",", "except", "as", "required", "by", "law", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
887905-000110465915061073-a15-18287_1ex99d1
EX-99.1 2 a15-18287_1ex99d1.htm EX-99.1 Exhibit 99.1 FOR IMMEDIATE RELEASE For more information contact: Wendy Simpson Pam Kessler (805) 981-8655 LTC CLOSES PREVIOUSLY ANNOUNCED PORTFOLIO ACQUISITION -Portfolio diversification via $142 million investment in 10 Senior Living Communities- WESTLAKE VILLAGE, CALIFORNIA, August 20, 2015 - LTC Properties, Inc. (NYSE:LTC), a real estate investment trust that primarily invests in seniors housing and health care properties, today announced the completion and closing of the previously announced acquisition of a 10-property portfolio providing independent, assisted living and memory care services totaling 891 units on August 17, 2015. Nine of the properties are located in Wisconsin and one is located in Illinois. The aggregate purchase price paid at closing was $142.0 million funded by utilizing the Company's revolving credit facility. About LTC Properties LTC is a self-administered real estate investment trust that primarily invests in seniors housing and health care properties through triple-net lease transactions, mortgage loans and other investments. For more information about LTC, visit the Company's website at www.LTCreit.com. Forward Looking Statements This press release includes statements that are not purely historical and are "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the Company's expectations, beliefs, intentions or strategies regarding the future. All statements other than historical facts contained in this press release are forward looking statements. These forward looking statements involve a number of risks and uncertainties. Please see LTC's most recent Annual Report on Form 10-K, its subsequent Quarterly Reports on Form 10-Q, and its other publicly available filings with the Securities and Exchange Commission for a discussion of these and other risks and uncertainties. All forward looking statements included in this press release are based on information available to the Company on the date hereof, and LTC assumes no obligation to update such forward looking statements. Although the Company's management believes that the assumptions and expectations reflected in such forward looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. The actual results achieved by the Company may differ materially from any forward looking statements due to the risks and uncertainties of such statements. # # #
[ "EX", "-", "99", ".", "1", "2", "a15", "-", "18287", "_", "1ex99d1", ".", "htm", "EX", "-", "99", ".", "1", "Exhibit", "99", ".", "1", "FOR", "IMMEDIATE", "RELEASE", "For", "more", "information", "contact", ":", "Wendy", "Simpson", "Pam", "Kessler", "(", "805", ")", "981", "-", "8655", "LTC", "CLOSES", "PREVIOUSLY", "ANNOUNCED", "PORTFOLIO", "ACQUISITION", "-", "Portfolio", "diversification", "via", "$", "142 million", "investment", "in", "10", "Senior", "Living", "Communities", "-", "WESTLAKE", "VILLAGE", ",", "CALIFORNIA", ",", "August", "20", ",", "2015", "-", "LTC", "Properties", ",", "Inc", ".", "(", "NYSE", ":", "LTC", ")", ",", "a", "real", "estate", "investment", "trust", "that", "primarily", "invests", "in", "seniors", "housing", "and", "health", "care", "properties", ",", "today", "announced", "the", "completion", "and", "closing", "of", "the", "previously", "announced", "acquisition", "of", "a", "10", "-", "property", "portfolio", "providing", "independent", ",", "assisted", "living", "and", "memory", "care", "services", "totaling", "891", "units", "on", "August", "17", ",", "2015", ".", "Nine", "of", "the", "properties", "are", "located", "in", "Wisconsin", "and", "one", "is", "located", "in", "Illinois", ".", "The", "aggregate", "purchase", "price", "paid", "at", "closing", "was", "$", "142.0 million", "funded", "by", "utilizing", "the", "Company", "'s", "revolving", "credit", "facility", ".", "About", "LTC", "Properties", "LTC", "is", "a", "self", "-", "administered", "real", "estate", "investment", "trust", "that", "primarily", "invests", "in", "seniors", "housing", "and", "health", "care", "properties", "through", "triple", "-", "net", "lease", "transactions", ",", "mortgage", "loans", "and", "other", "investments", ".", "For", "more", "information", "about", "LTC", ",", "visit", "the", "Company", "'s", "website", "at", "www.LTCreit.com", ".", "Forward", "Looking", "Statements", "This", "press", "release", "includes", "statements", "that", "are", "not", "purely", "historical", "and", "are", "\"", "forward", "looking", "statements", "\"", "within", "the", "meaning", "of", "Section", "27A", "of", "the", "Securities", "Act", "of", "1933", ",", "as", "amended", ",", "and", "Section", "21E", "of", "the", "Securities", "Exchange", "Act", "of", "1934", ",", "as", "amended", ",", "including", "statements", "regarding", "the", "Company", "'s", "expectations", ",", "beliefs", ",", "intentions", "or", "strategies", "regarding", "the", "future", ".", "All", "statements", "other", "than", "historical", "facts", "contained", "in", "this", "press", "release", "are", "forward", "looking", "statements", ".", "These", "forward", "looking", "statements", "involve", "a", "number", "of", "risks", "and", "uncertainties", ".", "Please", "see", "LTC", "'s", "most", "recent", "Annual", "Report", "on", "Form", "10", "-", "K", ",", "its", "subsequent", "Quarterly", "Reports", "on", "Form", "10", "-", "Q", ",", "and", "its", "other", "publicly", "available", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", "for", "a", "discussion", "of", "these", "and", "other", "risks", "and", "uncertainties", ".", "All", "forward", "looking", "statements", "included", "in", "this", "press", "release", "are", "based", "on", "information", "available", "to", "the", "Company", "on", "the", "date", "hereof", ",", "and", "LTC", "assumes", "no", "obligation", "to", "update", "such", "forward", "looking", "statements", ".", "Although", "the", "Company", "'s", "management", "believes", "that", "the", "assumptions", "and", "expectations", "reflected", "in", "such", "forward", "looking", "statements", "are", "reasonable", ",", "no", "assurance", "can", "be", "given", "that", "such", "expectations", "will", "prove", "to", "have", "been", "correct", ".", "The", "actual", "results", "achieved", "by", "the", "Company", "may", "differ", "materially", "from", "any", "forward", "looking", "statements", "due", "to", "the", "risks", "and", "uncertainties", "of", "such", "statements", ".", "#", "#", "#" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1626853-000114420418062115-tv508015_ex99-1
EX-99.1 3 tv508015_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 412 Mt. Kemble Ave, Ste 110C Morristown, NJ 07960, USA +1 973-461-5200 +1-973-605-2942 www.majesco.com PRESS RELEASE Majesco Acquires Exaxe, EMEA Cloud Software Leader for Life, Pensions and Wealth Management Award winning SaaS solutions extend market capabilities and reach for life, pensions and wealth management in Europe Morristown, NJ - November 27, 2018 - Majesco (NYSE AMERICAN: MJCO ), a global leader of cloud insurance technology, announced today the acquisition of Exaxe, an EMEA based cloud software leader in the life, pensions and wealth management segment. Headquartered in Dublin, Ireland Exaxe serves a growing list of top European insurers. This acquisition will strengthen and expand Majesco's software offerings in EMEA for the individual life, pensions and wealth management market while complementing Majesco's software and Group focused customer base in the UK. "We are delighted to welcome Exaxe founders Norman and Philip along with the amazing talent they bring to our global Majesco team. Together, we'll focus on bringing continuous innovation to our customers, helping them take advantage of the market opportunities in insurance with cloud and digital transformation," said Adam Elster, CEO of Majesco. "Exaxe has accelerated the delivery of cutting-edge cloud technology to their clients and we are excited to introduce this to the already growing group of Majesco customers and prospects across Europe". "We are delighted to join the Majesco family as part of the next phase of growth for Exaxe. We looked long and hard for a partner that shared our view of the digital future for insurance and look forward to maximizing our potential as part of a leading insurance digital transformation player like Majesco. This was an easy decision for us. Majesco's strength coupled with its complementary suite of innovative digital solutions and deep insurance industry expertise means we can offer a wider selection of solutions to new and existing clients and provide greater career opportunities for our committed team". Exaxe is an award-winning SaaS provider of software solutions that helps life and pensions companies with digital transformation by allowing them to launch new products faster, administer products more efficiently and respond with greater flexibility to the marketplace. They provide leading edge front, middle, and back-office SaaS solutions specifically for life, pensions, and wealth sectors. Exaxe's SaaS based solutions provide full lifecycle support, from automated advice through sales, administration and claims for life, pensions and wealth management product sets. Exaxe SaaS solutions allow its clients to avoid large upfront license fees, to pay per usage and work anywhere, anytime. Exaxe solutions are supporting insurance customer policies in the UK, Ireland and other European countries. The company has won a number of awards for innovation and technology in the last 3 years. "There is an undeniable move towards greater adoption levels of cloud-based core insurance solutions across the industry, especially among the mid-tier and below. This acquisition strengthens Majesco's already deep insurance portfolio and provides them with access to a new client segment in Europe", commented Jamie Macgregor, CEO, Head of Insurance for Celent. "Having the financial backing of Majesco and access to its technical bench will be a major step forward for the team at Exaxe and their suite of cloud-based products. I'm looking forward to see how the assets evolve and perform in new client deals". About Majesco Insurance business transformation is a journey of change and revitalization, a renaissance of Insurance. Approximately 160 insurance companies worldwide in P&C, Life & Annuities and Group/ Employee Benefits are transforming their businesses with Majesco's solutions. Our market leading software, consulting and services uniquely underpin the entire insurance value chain and are designed to empower insurers with the agility, innovation and speed needed to meet their transformation opportunities. Majesco's solutions include policy management, new business / underwriting, rating, billing, claims management, distribution management, BI/ analytics, predictive modeling, digital platform with mobile and portal, testing services, cloud services, bureau and content services, transformation services, consulting services and more. For more details on Majesco, please visit www.majesco.com. About Exaxe Exaxe is a leading provider of digital solutions to the life, annuity and wealth management sectors. Established over 21 years ago, the company has established strong relationships with customers in the UK and Ireland. Its innovative suite of solutions help life assurers to develop and implement digital strategies to meet the challenges and opportunities presented by the shift from legacy systems to SaaS based digital platforms. Exaxe has been leading the charge for this insurance based transformation in Europe and its solutions support the full policy lifecycle from the first customer interaction right through to the payment of a claim. For more information on Exaxe, please visit www.exaxe.com. Cautionary Language Concerning Forward-Looking Statements This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of management, are not guarantees of performance and are subject to significant risks and uncertainty. These forward-looking statements should, therefore, be considered in light of various important factors, including those set forth in Majesco's reports that it files from time to time with the Securities and Exchange Commission and which you should review, including those statements under "Item 1A - Risk Factors" in Majesco's Annual Report on Form 10-K for the fiscal year ended March 31, 2018 filed with the SEC on June 22, 2018. Important factors that could cause actual results to differ materially from those described in forward-looking statements contained in this press release include, but are not limited to: integration risks; changes in economic conditions, political conditions, trade protection measures, licensing requirements and tax matters; technology development risks; intellectual property rights risks; competition risks; additional scrutiny and increased expenses as a result of being a public company; the financial condition, financing requirements, prospects and cash flow of Majesco; loss of strategic relationships; changes in laws or regulations affecting the insurance industry in particular; restrictions on immigration; the ability and cost of retaining and recruiting key personnel; the ability to attract new clients and retain them and the risk of loss of large customers; continued compliance with evolving laws; customer data and cybersecurity risk; and Majesco's ability to raise capital to fund future growth. These forward-looking statements should not be relied upon as predictions of future events and Majesco cannot assure you that the events or circumstances discussed or reflected in these statements will be achieved or will occur. If such forward-looking statements prove to be inaccurate, the inaccuracy may be material. You should not regard these statements as a representation or warranty by Majesco or any other person that we will achieve our objectives and plans in any specified timeframe, or at all. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Majesco disclaims any obligation to publicly update or release any revisions to these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release or to reflect the occurrence of unanticipated events, except as required by law. Media Contacts Majesco Tara Dilzer Alexander Director, Marketing Communications and Creative Services Phone: +1-718-916-6873 Email: [email protected]
[ "EX", "-", "99", ".", "1", "3", "tv508015", "_", "ex99", "-", "1", ".", "htm", "EXHIBIT", "99", ".", "1", "Exhibit", "99", ".", "1", "412", "Mt. Kemble", "Ave", ",", "Ste", "110", "C", "Morristown", ",", "NJ", "07960", ",", "USA", "+", "1", "973", "-", "461", "-", "5200", "+", "1", "-", "973", "-", "605", "-", "2942", "www.majesco.com", "PRESS", "RELEASE", "Majesco", "Acquires", "Exaxe", ",", "EMEA", "Cloud", "Software", "Leader", "for", "Life", ",", "Pensions", "and", "Wealth", "Management", "Award", "winning", "SaaS", "solutions", "extend", "market", "capabilities", "and", "reach", "for", "life", ",", "pensions", "and", "wealth", "management", "in", "Europe", "Morristown", ",", "NJ", "-", "November", "27", ",", "2018", "-", "Majesco", "(", "NYSE", "AMERICAN", ":", "MJCO", ")", ",", "a", "global", "leader", "of", "cloud", "insurance", "technology", ",", "announced", "today", "the", "acquisition", "of", "Exaxe", ",", "an", "EMEA", "based", "cloud", "software", "leader", "in", "the", "life", ",", "pensions", "and", "wealth", "management", "segment", ".", "Headquartered", "in", "Dublin", ",", "Ireland", "Exaxe", "serves", "a", "growing", "list", "of", "top", "European", "insurers", ".", "This", "acquisition", "will", "strengthen", "and", "expand", "Majesco", "'s", "software", "offerings", "in", "EMEA", "for", "the", "individual", "life", ",", "pensions", "and", "wealth", "management", "market", "while", "complementing", "Majesco", "'s", "software", "and", "Group", "focused", "customer", "base", "in", "the", "UK", ".", "\"", "We", "are", "delighted", "to", "welcome", "Exaxe", "founders", "Norman", "and", "Philip", "along", "with", "the", "amazing", "talent", "they", "bring", "to", "our", "global", "Majesco", "team", ".", "Together", ",", "we", "'", "ll", "focus", "on", "bringing", "continuous", "innovation", "to", "our", "customers", ",", "helping", "them", "take", "advantage", "of", "the", "market", "opportunities", "in", "insurance", "with", "cloud", "and", "digital", "transformation", ",", "\"", "said", "Adam", "Elster", ",", "CEO", "of", "Majesco", ".", "\"", "Exaxe", "has", "accelerated", "the", "delivery", "of", "cutting", "-", "edge", "cloud", "technology", "to", "their", "clients", "and", "we", "are", "excited", "to", "introduce", "this", "to", "the", "already", "growing", "group", "of", "Majesco", "customers", "and", "prospects", "across", "Europe", "\"", ".", "\"", "We", "are", "delighted", "to", "join", "the", "Majesco", "family", "as", "part", "of", "the", "next", "phase", "of", "growth", "for", "Exaxe", ".", "We", "looked", "long", "and", "hard", "for", "a", "partner", "that", "shared", "our", "view", "of", "the", "digital", "future", "for", "insurance", "and", "look", "forward", "to", "maximizing", "our", "potential", "as", "part", "of", "a", "leading", "insurance", "digital", "transformation", "player", "like", "Majesco", ".", "This", "was", "an", "easy", "decision", "for", "us", ".", "Majesco", "'s", "strength", "coupled", "with", "its", "complementary", "suite", "of", "innovative", "digital", "solutions", "and", "deep", "insurance", "industry", "expertise", "means", "we", "can", "offer", "a", "wider", "selection", "of", "solutions", "to", "new", "and", "existing", "clients", "and", "provide", "greater", "career", "opportunities", "for", "our", "committed", "team", "\"", ".", "Exaxe", "is", "an", "award", "-", "winning", "SaaS", "provider", "of", "software", "solutions", "that", "helps", "life", "and", "pensions", "companies", "with", "digital", "transformation", "by", "allowing", "them", "to", "launch", "new", "products", "faster", ",", "administer", "products", "more", "efficiently", "and", "respond", "with", "greater", "flexibility", "to", "the", "marketplace", ".", "They", "provide", "leading", "edge", "front", ",", "middle", ",", "and", "back", "-", "office", "SaaS", "solutions", "specifically", "for", "life", ",", "pensions", ",", "and", "wealth", "sectors", ".", "Exaxe", "'s", "SaaS", "based", "solutions", "provide", "full", "lifecycle", "support", ",", "from", "automated", "advice", "through", "sales", ",", "administration", "and", "claims", "for", "life", ",", "pensions", "and", "wealth", "management", "product", "sets", ".", "Exaxe", "SaaS", "solutions", "allow", "its", "clients", "to", "avoid", "large", "upfront", "license", "fees", ",", "to", "pay", "per", "usage", "and", "work", "anywhere", ",", "anytime", ".", "Exaxe", "solutions", "are", "supporting", "insurance", "customer", "policies", "in", "the", "UK", ",", "Ireland", "and", "other", "European", "countries", ".", "The", "company", "has", "won", "a", "number", "of", "awards", "for", "innovation", "and", "technology", "in", "the", "last", "3", "years", ".", "\"", "There", "is", "an", "undeniable", "move", "towards", "greater", "adoption", "levels", "of", "cloud", "-", "based", "core", "insurance", "solutions", "across", "the", "industry", ",", "especially", "among", "the", "mid", "-", "tier", "and", "below", ".", "This", "acquisition", "strengthens", "Majesco", "'s", "already", "deep", "insurance", "portfolio", "and", "provides", "them", "with", "access", "to", "a", "new", "client", "segment", "in", "Europe", "\"", ",", "commented", "Jamie", "Macgregor", ",", "CEO", ",", "Head", "of", "Insurance", "for", "Celent", ".", "\"", "Having", "the", "financial", "backing", "of", "Majesco", "and", "access", "to", "its", "technical", "bench", "will", "be", "a", "major", "step", "forward", "for", "the", "team", "at", "Exaxe", "and", "their", "suite", "of", "cloud", "-", "based", "products", ".", "I", "'", "m", "looking", "forward", "to", "see", "how", "the", "assets", "evolve", "and", "perform", "in", "new", "client", "deals", "\"", ".", "About", "Majesco", "Insurance", "business", "transformation", "is", "a", "journey", "of", "change", "and", "revitalization", ",", "a", "renaissance", "of", "Insurance", ".", "Approximately", "160", "insurance", "companies", "worldwide", "in", "P", "&", "C", ",", "Life", "&", "Annuities", "and", "Group", "/", "Employee", "Benefits", "are", "transforming", "their", "businesses", "with", "Majesco", "'s", "solutions", ".", "Our", "market", "leading", "software", ",", "consulting", "and", "services", "uniquely", "underpin", "the", "entire", "insurance", "value", "chain", "and", "are", "designed", "to", "empower", "insurers", "with", "the", "agility", ",", "innovation", "and", "speed", "needed", "to", "meet", "their", "transformation", "opportunities", ".", "Majesco", "'s", "solutions", "include", "policy", "management", ",", "new", "business", "/", "underwriting", ",", "rating", ",", "billing", ",", "claims", "management", ",", "distribution", "management", ",", "BI", "/", "analytics", ",", "predictive", "modeling", ",", "digital", "platform", "with", "mobile", "and", "portal", ",", "testing", "services", ",", "cloud", "services", ",", "bureau", "and", "content", "services", ",", "transformation", "services", ",", "consulting", "services", "and", "more", ".", "For", "more", "details", "on", "Majesco", ",", "please", "visit", "www.majesco.com", ".", "About", "Exaxe", "Exaxe", "is", "a", "leading", "provider", "of", "digital", "solutions", "to", "the", "life", ",", "annuity", "and", "wealth", "management", "sectors", ".", "Established", "over", "21", "years", "ago", ",", "the", "company", "has", "established", "strong", "relationships", "with", "customers", "in", "the", "UK", "and", "Ireland", ".", "Its", "innovative", "suite", "of", "solutions", "help", "life", "assurers", "to", "develop", "and", "implement", "digital", "strategies", "to", "meet", "the", "challenges", "and", "opportunities", "presented", "by", "the", "shift", "from", "legacy", "systems", "to", "SaaS", "based", "digital", "platforms", ".", "Exaxe", "has", "been", "leading", "the", "charge", "for", "this", "insurance", "based", "transformation", "in", "Europe", "and", "its", "solutions", "support", "the", "full", "policy", "lifecycle", "from", "the", "first", "customer", "interaction", "right", "through", "to", "the", "payment", "of", "a", "claim", ".", "For", "more", "information", "on", "Exaxe", ",", "please", "visit", "www.exaxe.com", ".", "Cautionary", "Language", "Concerning", "Forward", "-", "Looking", "Statements", "This", "press", "release", "contains", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "the", "\"", "safe", "harbor", "\"", "provisions", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", ".", "These", "forward", "-", "looking", "statements", "are", "made", "on", "the", "basis", "of", "the", "current", "beliefs", ",", "expectations", "and", "assumptions", "of", "management", ",", "are", "not", "guarantees", "of", "performance", "and", "are", "subject", "to", "significant", "risks", "and", "uncertainty", ".", "These", "forward", "-", "looking", "statements", "should", ",", "therefore", ",", "be", "considered", "in", "light", "of", "various", "important", "factors", ",", "including", "those", "set", "forth", "in", "Majesco", "'s", "reports", "that", "it", "files", "from", "time", "to", "time", "with", "the", "Securities", "and", "Exchange", "Commission", "and", "which", "you", "should", "review", ",", "including", "those", "statements", "under", "\"", "Item", "1A", "-", "Risk", "Factors", "\"", "in", "Majesco", "'s", "Annual", "Report", "on", "Form", "10", "-", "K", "for", "the", "fiscal", "year", "ended", "March", "31", ",", "2018", "filed", "with", "the", "SEC", "on", "June", "22", ",", "2018", ".", "Important", "factors", "that", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "described", "in", "forward", "-", "looking", "statements", "contained", "in", "this", "press", "release", "include", ",", "but", "are", "not", "limited", "to", ":", "integration", "risks", ";", "changes", "in", "economic", "conditions", ",", "political", "conditions", ",", "trade", "protection", "measures", ",", "licensing", "requirements", "and", "tax", "matters", ";", "technology", "development", "risks", ";", "intellectual", "property", "rights", "risks", ";", "competition", "risks", ";", "additional", "scrutiny", "and", "increased", "expenses", "as", "a", "result", "of", "being", "a", "public", "company", ";", "the", "financial", "condition", ",", "financing", "requirements", ",", "prospects", "and", "cash", "flow", "of", "Majesco", ";", "loss", "of", "strategic", "relationships", ";", "changes", "in", "laws", "or", "regulations", "affecting", "the", "insurance", "industry", "in", "particular", ";", "restrictions", "on", "immigration", ";", "the", "ability", "and", "cost", "of", "retaining", "and", "recruiting", "key", "personnel", ";", "the", "ability", "to", "attract", "new", "clients", "and", "retain", "them", "and", "the", "risk", "of", "loss", "of", "large", "customers", ";", "continued", "compliance", "with", "evolving", "laws", ";", "customer", "data", "and", "cybersecurity", "risk", ";", "and", "Majesco", "'s", "ability", "to", "raise", "capital", "to", "fund", "future", "growth", ".", "These", "forward", "-", "looking", "statements", "should", "not", "be", "relied", "upon", "as", "predictions", "of", "future", "events", "and", "Majesco", "can", "not", "assure", "you", "that", "the", "events", "or", "circumstances", "discussed", "or", "reflected", "in", "these", "statements", "will", "be", "achieved", "or", "will", "occur", ".", "If", "such", "forward", "-", "looking", "statements", "prove", "to", "be", "inaccurate", ",", "the", "inaccuracy", "may", "be", "material", ".", "You", "should", "not", "regard", "these", "statements", "as", "a", "representation", "or", "warranty", "by", "Majesco", "or", "any", "other", "person", "that", "we", "will", "achieve", "our", "objectives", "and", "plans", "in", "any", "specified", "timeframe", ",", "or", "at", "all", ".", "You", "are", "cautioned", "not", "to", "place", "undue", "reliance", "on", "these", "forward", "-", "looking", "statements", ",", "which", "speak", "only", "as", "of", "the", "date", "of", "this", "presentation", ".", "Majesco", "disclaims", "any", "obligation", "to", "publicly", "update", "or", "release", "any", "revisions", "to", "these", "forward", "-", "looking", "statements", ",", "whether", "as", "a", "result", "of", "new", "information", ",", "future", "events", "or", "otherwise", ",", "after", "the", "date", "of", "this", "press", "release", "or", "to", "reflect", "the", "occurrence", "of", "unanticipated", "events", ",", "except", "as", "required", "by", "law", ".", "Media", "Contacts", "Majesco", "Tara", "Dilzer", "Alexander", "Director", ",", "Marketing", "Communications", "and", "Creative", "Services", "Phone", ":", "+", "1", "-", "718", "-", "916", "-", "6873", "Email", ":", "[email protected]" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1404593-000100201410000037-exh996
EX-99.6 7 exh996.htm PRESS RELEASE DATED JANUARY 13, 2010. exh996.htm Exhibit 99.6 FOR IMMEDIATE RELEASE Medical Care Technologies Inc. Secures Financing LONDON, ENGLAND - January 13, 2010 - Medical Care Technologies Inc. (OTCBB: MDCE) announces that it has completed a non-brokered private placement of 500,000 units at a price of US$0.20 per unit for total proceeds of US$100,000. Each unit purchased is of one share of common stock, and one Series A Warrant. Each Series A Warrant is convertible into one share of common stock upon payment of $0.15 each. Each Series A Warrant is non-transferable. The Series A Warrants are exercisable for a period of 24 months from January 15, 2010. "The funds raised from this placement shall be used for MDCE's first Telehealth Care Center which will act as our flagship clinic in China, that will educate and treat patients via the Tele-Health™ Suite", states Ning Wu, President of MDCE. The units were sold pursuant to the exemption from registration contained in Regulation S of the Securities Act of 1933 in that the transaction took place outside the United States of America and the purchaser was a non-US person as defined in Regulation S. The securities that comprise the units are "restricted securities" as that term is defined in Rule 144 of the Securities Act of 1933. About Medical Care Technologies Inc. Medical Care Technologies Inc. ( www.medicaretech.com ) is traded under the symbol MDCE on the OTCBB and is based in London, England. The Company is in the process of moving its portfolio of oil resources into medical care technologies. The products/services that the company hopes to acquire are intended will constitute a healthcare delivery and wellness site; dedicated to helping Asian consumers live healthier, more balanced lives. MDCE is planning to provide advanced connectivity, internationally standardized and secure business, technology and information systems to assist the Asian health industry - physicians, pharmacists, medical institutions, consumers - access medical resources, health services, education, wellness and pharmaceutical products throughout Asia. MDCE is planning to distribute and provide services at a diverse range of industry-leading product lines in three segments: Medical Devices, Pharmaceuticals and Nutriceuticals. Further information on the Company can be found at www.sec.gov and the company's website at www.medicaretech.com Safe Harbor Statement All statements contained in this press release, other than statements of historical fact, are forward-looking statements, including those regarding: MDCE's products, services, capabilities, performance, opportunities, development and business outlook, guidance on our future financial results and other projections or measures of our future performance; the amount and timing of the benefits expected from strategic initiatives and acquisitions or from deployment of new or updated technologies, products, services or applications; and other potential sources of additional revenue. These statements are based on our current plans and expectations and involve risks and uncertainties that could cause actual future events or results to be different than those described in or implied by such forward-looking statements. These risks and uncertainties include those relating to: lack of operating history, transitioning from a development company to an operating company, difficulties in distinguishing MDCE's products and services, ability to deploy MDCE's services and products, market acceptance of our products and services; operational difficulties relating to combining acquired companies and businesses; our ability to form and maintain mutually beneficial relationships with customers and strategic partners; changes in economic, political or regulatory conditions or other trends affecting the healthcare, Internet, information technology and healthcare and pharmaceutical industries, and our ability to attract and retain qualified personnel. Other risks and uncertainties may include, but are not limited to: lack of or delay in market acceptance and fluctuations in customer demand, dependence on a limited number of significant customers, reliance on third party vendors and strategic partners, ability to meet future capital requirements on acceptable terms, continuing uncertainty in the global economy, and compliance with federal and state regulatory requirement. Further information about these matters can be found in our Securities and Exchange Commission filings. We expressly disclaim any intent or obligation to update these forward-looking statements. There can be no assurance that the acquisition of GUC's assets will close. MDCE must issue 57,300,000 shares of its common stock to GUC, or GUC's designees in order to close the acquisition. Accounting for the anticipates cancelation of 57,300,000 shares by Patricia Traczykowski, MDCE will have 98,900,000 shares of it common stock issued and outstanding upon the closing of the acquisition. For Further Information: Ezra Smith C. Jones Consulting, Inc. Tel: (727) 771-9500 Fax: (727) 771-9545 Email: [email protected] Web: www.cjonesconsulting.com
[ "EX", "-", "99", ".", "6", "7", "exh996", ".", "htm", "PRESS", "RELEASE", "DATED", "JANUARY", "13", ",", "2010", ".", "exh996", ".", "htm", "Exhibit", "99", ".", "6", "FOR", "IMMEDIATE", "RELEASE", "Medical", "Care", "Technologies", "Inc", ".", "Secures", "Financing", "LONDON", ",", "ENGLAND", "-", "January", "13", ",", "2010", "-", "Medical", "Care", "Technologies", "Inc", ".", "(", "OTCBB", ":", "MDCE", ")", "announces", "that", "it", "has", "completed", "a", "non", "-", "brokered", "private", "placement", "of", "500,000", "units", "at", "a", "price", "of", "US$", "0.20", "per", "unit", "for", "total", "proceeds", "of", "US$", "100,000", ".", "Each", "unit", "purchased", "is", "of", "one", "share", "of", "common", "stock", ",", "and", "one", "Series", "A", "Warrant", ".", "Each", "Series", "A", "Warrant", "is", "convertible", "into", "one", "share", "of", "common", "stock", "upon", "payment", "of", "$", "0.15", "each", ".", "Each", "Series", "A", "Warrant", "is", "non", "-", "transferable", ".", "The", "Series", "A", "Warrants", "are", "exercisable", "for", "a", "period", "of", "24", "months", "from", "January", "15", ",", "2010", ".", "\"", "The", "funds", "raised", "from", "this", "placement", "shall", "be", "used", "for", "MDCE", "'s", "first", "Telehealth", "Care", "Center", "which", "will", "act", "as", "our", "flagship", "clinic", "in", "China", ",", "that", "will", "educate", "and", "treat", "patients", "via", "the", "Tele", "-", "Health", "™", "Suite", "\"", ",", "states", "Ning", "Wu", ",", "President", "of", "MDCE", ".", "The", "units", "were", "sold", "pursuant", "to", "the", "exemption", "from", "registration", "contained", "in", "Regulation", "S", "of", "the", "Securities", "Act", "of", "1933", "in", "that", "the", "transaction", "took", "place", "outside", "the", "United", "States", "of", "America", "and", "the", "purchaser", "was", "a", "non", "-", "US", "person", "as", "defined", "in", "Regulation", "S", ".", "The", "securities", "that", "comprise", "the", "units", "are", "\"", "restricted", "securities", "\"", "as", "that", "term", "is", "defined", "in", "Rule", "144", "of", "the", "Securities", "Act", "of", "1933", ".", "About", "Medical", "Care", "Technologies", "Inc", ".", "Medical", "Care", "Technologies", "Inc", ".", "(", "www.medicaretech.com", ")", "is", "traded", "under", "the", "symbol", "MDCE", "on", "the", "OTCBB", "and", "is", "based", "in", "London", ",", "England", ".", "The", "Company", "is", "in", "the", "process", "of", "moving", "its", "portfolio", "of", "oil", "resources", "into", "medical", "care", "technologies", ".", "The", "products", "/", "services", "that", "the", "company", "hopes", "to", "acquire", "are", "intended", "will", "constitute", "a", "healthcare", "delivery", "and", "wellness", "site", ";", "dedicated", "to", "helping", "Asian", "consumers", "live", "healthier", ",", "more", "balanced", "lives", ".", "MDCE", "is", "planning", "to", "provide", "advanced", "connectivity", ",", "internationally", "standardized", "and", "secure", "business", ",", "technology", "and", "information", "systems", "to", "assist", "the", "Asian", "health", "industry", "-", "physicians", ",", "pharmacists", ",", "medical", "institutions", ",", "consumers", "-", "access", "medical", "resources", ",", "health", "services", ",", "education", ",", "wellness", "and", "pharmaceutical", "products", "throughout", "Asia", ".", "MDCE", "is", "planning", "to", "distribute", "and", "provide", "services", "at", "a", "diverse", "range", "of", "industry", "-", "leading", "product", "lines", "in", "three", "segments", ":", "Medical", "Devices", ",", "Pharmaceuticals", "and", "Nutriceuticals", ".", "Further", "information", "on", "the", "Company", "can", "be", "found", "at", "www.sec.gov", "and", "the", "company", "'s", "website", "at", "www.medicaretech.com", "Safe", "Harbor", "Statement", "All", "statements", "contained", "in", "this", "press", "release", ",", "other", "than", "statements", "of", "historical", "fact", ",", "are", "forward", "-", "looking", "statements", ",", "including", "those", "regarding", ":", "MDCE", "'s", "products", ",", "services", ",", "capabilities", ",", "performance", ",", "opportunities", ",", "development", "and", "business", "outlook", ",", "guidance", "on", "our", "future", "financial", "results", "and", "other", "projections", "or", "measures", "of", "our", "future", "performance", ";", "the", "amount", "and", "timing", "of", "the", "benefits", "expected", "from", "strategic", "initiatives", "and", "acquisitions", "or", "from", "deployment", "of", "new", "or", "updated", "technologies", ",", "products", ",", "services", "or", "applications", ";", "and", "other", "potential", "sources", "of", "additional", "revenue", ".", "These", "statements", "are", "based", "on", "our", "current", "plans", "and", "expectations", "and", "involve", "risks", "and", "uncertainties", "that", "could", "cause", "actual", "future", "events", "or", "results", "to", "be", "different", "than", "those", "described", "in", "or", "implied", "by", "such", "forward", "-", "looking", "statements", ".", "These", "risks", "and", "uncertainties", "include", "those", "relating", "to", ":", "lack", "of", "operating", "history", ",", "transitioning", "from", "a", "development", "company", "to", "an", "operating", "company", ",", "difficulties", "in", "distinguishing", "MDCE", "'s", "products", "and", "services", ",", "ability", "to", "deploy", "MDCE", "'s", "services", "and", "products", ",", "market", "acceptance", "of", "our", "products", "and", "services", ";", "operational", "difficulties", "relating", "to", "combining", "acquired", "companies", "and", "businesses", ";", "our", "ability", "to", "form", "and", "maintain", "mutually", "beneficial", "relationships", "with", "customers", "and", "strategic", "partners", ";", "changes", "in", "economic", ",", "political", "or", "regulatory", "conditions", "or", "other", "trends", "affecting", "the", "healthcare", ",", "Internet", ",", "information", "technology", "and", "healthcare", "and", "pharmaceutical", "industries", ",", "and", "our", "ability", "to", "attract", "and", "retain", "qualified", "personnel", ".", "Other", "risks", "and", "uncertainties", "may", "include", ",", "but", "are", "not", "limited", "to", ":", "lack", "of", "or", "delay", "in", "market", "acceptance", "and", "fluctuations", "in", "customer", "demand", ",", "dependence", "on", "a", "limited", "number", "of", "significant", "customers", ",", "reliance", "on", "third", "party", "vendors", "and", "strategic", "partners", ",", "ability", "to", "meet", "future", "capital", "requirements", "on", "acceptable", "terms", ",", "continuing", "uncertainty", "in", "the", "global", "economy", ",", "and", "compliance", "with", "federal", "and", "state", "regulatory", "requirement", ".", "Further", "information", "about", "these", "matters", "can", "be", "found", "in", "our", "Securities", "and", "Exchange", "Commission", "filings", ".", "We", "expressly", "disclaim", "any", "intent", "or", "obligation", "to", "update", "these", "forward", "-", "looking", "statements", ".", "There", "can", "be", "no", "assurance", "that", "the", "acquisition", "of", "GUC", "'s", "assets", "will", "close", ".", "MDCE", "must", "issue", "57,300,000", "shares", "of", "its", "common", "stock", "to", "GUC", ",", "or", "GUC", "'s", "designees", "in", "order", "to", "close", "the", "acquisition", ".", "Accounting", "for", "the", "anticipates", "cancelation", "of", "57,300,000", "shares", "by", "Patricia", "Traczykowski", ",", "MDCE", "will", "have", "98,900,000", "shares", "of", "it", "common", "stock", "issued", "and", "outstanding", "upon", "the", "closing", "of", "the", "acquisition", ".", "For", "Further", "Information", ":", "Ezra", "Smith", "C", ".", "Jones", "Consulting", ",", "Inc", ".", "Tel", ":", "(", "727", ")", "771", "-", "9500", "Fax", ":", "(", "727", ")", "771", "-", "9545", "Email", ":", "[email protected]", "Web", ":", "www.cjonesconsulting.com" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1011109-000155278115000677-e00272_ex99-1
EX-99.1 2 e00272_ex99-1.htm ACRE Realty Investors Inc. Announces Closing of Sale Contract of Northridge Land in Fulton County, Georgia NEW YORK, July 1, 2015 / PRNewswire/ - ACRE Realty Investors Inc. (NYSE MKT: AIII) (the "Company") announces that, on June 30, 2015, it closed the previously announced sale of its Northridge land parcel for a sale price of $5,500,000. On April 2, 2015, the Company filed a Current Report on Form 8-K to report that, through a wholly owned subsidiary, the Company entered into a sale contract with Vista Acquisitions, LLC, a Georgia limited liability company ("Vista"), pursuant to which the Company agreed to sell, and Vista agreed to purchase, the Northridge land parcel, consisting of approximately 12.965 acres of real property located in Land Lots 25 and 26 of the 17th District, and in Land Lots 385 and 386 of the 19th District, Fulton County, Georgia (the "Northridge Land"). The Northridge Land was one of the four legacy properties that was acquired prior to the recapitalization transaction with A-III Investment Partners LLC. As described in our most recent Quarterly Report on Form 10-Q, the Company is in the process of selling its legacy properties. The above description of the closing and related matters is only a summary, and you are encouraged to read the Company's Current Report on Form 8-K, which the Company intends to file shortly after this press release is issued and which will be available free of charge at the SEC's website at www.sec.gov. Additional information about the Company, including links to SEC filings, is available on the Company's website at www.acrerealtyinvestors.com. In addition, you may contact the Company at 212-878-3504. Source: ACRE Realty Investors Inc.
[ "EX", "-", "99", ".", "1", "2", "e00272", "_", "ex99", "-", "1", ".", "htm", "ACRE", "Realty", "Investors", "Inc", ".", "Announces", "Closing", "of", "Sale", "Contract", "of", "Northridge", "Land", "in", "Fulton", "County", ",", "Georgia", "NEW", "YORK", ",", "July", "1", ",", "2015", "/", "PRNewswire", "/", "-", "ACRE", "Realty", "Investors", "Inc", ".", "(", "NYSE", "MKT", ":", "AIII", ")", "(", "the", "\"", "Company", "\"", ")", "announces", "that", ",", "on", "June", "30", ",", "2015", ",", "it", "closed", "the", "previously", "announced", "sale", "of", "its", "Northridge", "land", "parcel", "for", "a", "sale", "price", "of", "$", "5,500,000", ".", "On", "April", "2", ",", "2015", ",", "the", "Company", "filed", "a", "Current", "Report", "on", "Form", "8", "-", "K", "to", "report", "that", ",", "through", "a", "wholly", "owned", "subsidiary", ",", "the", "Company", "entered", "into", "a", "sale", "contract", "with", "Vista", "Acquisitions", ",", "LLC", ",", "a", "Georgia", "limited", "liability", "company", "(", "\"", "Vista", "\"", ")", ",", "pursuant", "to", "which", "the", "Company", "agreed", "to", "sell", ",", "and", "Vista", "agreed", "to", "purchase", ",", "the", "Northridge", "land", "parcel", ",", "consisting", "of", "approximately", "12.965", "acres", "of", "real", "property", "located", "in", "Land", "Lots", "25", "and", "26", "of", "the", "17th", "District", ",", "and", "in", "Land", "Lots", "385", "and", "386", "of", "the", "19th", "District", ",", "Fulton", "County", ",", "Georgia", "(", "the", "\"", "Northridge", "Land", "\"", ")", ".", "The", "Northridge", "Land", "was", "one", "of", "the", "four", "legacy", "properties", "that", "was", "acquired", "prior", "to", "the", "recapitalization", "transaction", "with", "A", "-", "III", "Investment", "Partners", "LLC", ".", "As", "described", "in", "our", "most", "recent", "Quarterly", "Report", "on", "Form", "10", "-", "Q", ",", "the", "Company", "is", "in", "the", "process", "of", "selling", "its", "legacy", "properties", ".", "The", "above", "description", "of", "the", "closing", "and", "related", "matters", "is", "only", "a", "summary", ",", "and", "you", "are", "encouraged", "to", "read", "the", "Company", "'s", "Current", "Report", "on", "Form", "8", "-", "K", ",", "which", "the", "Company", "intends", "to", "file", "shortly", "after", "this", "press", "release", "is", "issued", "and", "which", "will", "be", "available", "free", "of", "charge", "at", "the", "SEC", "'s", "website", "at", "www.sec.gov", ".", "Additional", "information", "about", "the", "Company", ",", "including", "links", "to", "SEC", "filings", ",", "is", "available", "on", "the", "Company", "'s", "website", "at", "www.acrerealtyinvestors.com", ".", "In", "addition", ",", "you", "may", "contact", "the", "Company", "at", "212", "-", "878", "-", "3504", ".", "Source", ":", "ACRE", "Realty", "Investors", "Inc", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
798359-000079835921000011-centerspaceannouncesclosin
EX-99.1 5 centerspaceannouncesclosin.htm EX-99.1 Document FOR IMMEDIATE RELEASE Contact Information Emily Miller, Investor Relations Phone: (701) 837-7104 E-mail: [email protected] CENTERSPACE CLOSES ON MINNESOTA PORTFOLIO ACQUISITION MINNEAPOLIS, MN, September 2, 2021 - Centerspace (NYSE: CSR) announced today that it has closed on its strategic portfolio acquisition in Minneapolis and St. Cloud, Minnesota for an aggregate purchase price of $323.8 million. The portfolio is comprised of 14 communities in Minneapolis, Minnesota and three communities in St. Cloud, Minnesota. The acquisition will add 2,696 apartment homes to the Centerspace portfolio. In connection with this transaction, the Company issued $181.4 million of Convertible Preferred Operating Partnership units. The Convertible Preferred Operating Partnership units pay a 3.875% dividend rate and are convertible into common units at an exchange rate of 1.2048 common units per Convertible Preferred Operating Partnership unit representing a conversion price of $83.00 per unit. The acquired assets are subject to $126.5 million in mortgage liabilities of which $20.0 million was assumed at a rate of 4.31% with the remaining $106.5 million refinanced through a $198.9 million Fannie Mae Credit Facility. The Fannie Mae Credit Facility includes tranches in 7, 10 and 12-year increments with a weighted average interest rate of 2.78%. The additional proceeds from the refinancing will be used by the Company to reduce the outstanding balance under its bank credit facility. As part of the transaction consideration, the Company will provide tax protection to the holders of the Convertible Preferred Operating Partnership units for seven years. Additionally, the Company plans to invest approximately $40 million to reposition the communities over the next 24-36 months. "We are very excited to close this transaction and add 2,696 homes and 118 new team members to our portfolio. This acquisition allows us to double our footprint in Minneapolis, a market where we have seen consistently strong performance, while increasing our scale of operations", said Mark O. Decker Jr., President and CEO. "We are thankful to all the team members who have gotten us to closing and we are excited to welcome these communities and team members to our platform". About Centerspace Centerspace is an owner and operator of apartment communities committed to providing great homes by focusing on integrity and serving others. Founded in 1970, the company currently owns 79 apartment communities consisting of 14,275 homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota. Centerspace was named a Top Workplace for 2021 by the Minneapolis Star Tribune. For more information, please visit www.centerspacehomes.com. ### If you would like more information about this topic, please contact Emily Miller, Investor Relations, at (701) 837-7104 or [email protected].
[ "EX", "-", "99", ".", "1", "5", "centerspaceannouncesclosin", ".", "htm", "EX", "-", "99", ".", "1", "Document", "FOR", "IMMEDIATE", "RELEASE", "Contact", "Information", "Emily", "Miller", ",", "Investor", "Relations", "Phone", ":", "(", "701", ")", "837", "-", "7104", "E", "-", "mail", ":", "[email protected]", "CENTERSPACE", "CLOSES", "ON", "MINNESOTA", "PORTFOLIO", "ACQUISITION", "MINNEAPOLIS", ",", "MN", ",", "September", "2", ",", "2021", "-", "Centerspace", "(", "NYSE", ":", "CSR", ")", "announced", "today", "that", "it", "has", "closed", "on", "its", "strategic", "portfolio", "acquisition", "in", "Minneapolis", "and", "St", ".", "Cloud", ",", "Minnesota", "for", "an", "aggregate", "purchase", "price", "of", "$", "323.8 million", ".", "The", "portfolio", "is", "comprised", "of", "14", "communities", "in", "Minneapolis", ",", "Minnesota", "and", "three", "communities", "in", "St", ".", "Cloud", ",", "Minnesota", ".", "The", "acquisition", "will", "add", "2,696", "apartment", "homes", "to", "the", "Centerspace", "portfolio", ".", "In", "connection", "with", "this", "transaction", ",", "the", "Company", "issued", "$", "181.4 million", "of", "Convertible", "Preferred", "Operating", "Partnership", "units", ".", "The", "Convertible", "Preferred", "Operating", "Partnership", "units", "pay", "a", "3", ".", "875", "%", "dividend", "rate", "and", "are", "convertible", "into", "common", "units", "at", "an", "exchange", "rate", "of", "1", ".", "2048", "common", "units", "per", "Convertible", "Preferred", "Operating", "Partnership", "unit", "representing", "a", "conversion", "price", "of", "$", "83.00", "per", "unit", ".", "The", "acquired", "assets", "are", "subject", "to", "$", "126.5 million", "in", "mortgage", "liabilities", "of", "which", "$", "20.0 million", "was", "assumed", "at", "a", "rate", "of", "4", ".", "31", "%", "with", "the", "remaining", "$", "106.5 million", "refinanced", "through", "a", "$", "198.9 million", "Fannie", "Mae", "Credit", "Facility", ".", "The", "Fannie", "Mae", "Credit", "Facility", "includes", "tranches", "in", "7", ",", "10", "and", "12", "-", "year", "increments", "with", "a", "weighted", "average", "interest", "rate", "of", "2", ".", "78", "%", ".", "The", "additional", "proceeds", "from", "the", "refinancing", "will", "be", "used", "by", "the", "Company", "to", "reduce", "the", "outstanding", "balance", "under", "its", "bank", "credit", "facility", ".", "As", "part", "of", "the", "transaction", "consideration", ",", "the", "Company", "will", "provide", "tax", "protection", "to", "the", "holders", "of", "the", "Convertible", "Preferred", "Operating", "Partnership", "units", "for", "seven", "years", ".", "Additionally", ",", "the", "Company", "plans", "to", "invest", "approximately", "$", "40 million", "to", "reposition", "the", "communities", "over", "the", "next", "24", "-", "36", "months", ".", "\"", "We", "are", "very", "excited", "to", "close", "this", "transaction", "and", "add", "2,696", "homes", "and", "118", "new", "team", "members", "to", "our", "portfolio", ".", "This", "acquisition", "allows", "us", "to", "double", "our", "footprint", "in", "Minneapolis", ",", "a", "market", "where", "we", "have", "seen", "consistently", "strong", "performance", ",", "while", "increasing", "our", "scale", "of", "operations", "\"", ",", "said", "Mark", "O", ".", "Decker Jr.", ",", "President", "and", "CEO", ".", "\"", "We", "are", "thankful", "to", "all", "the", "team", "members", "who", "have", "gotten", "us", "to", "closing", "and", "we", "are", "excited", "to", "welcome", "these", "communities", "and", "team", "members", "to", "our", "platform", "\"", ".", "About", "Centerspace", "Centerspace", "is", "an", "owner", "and", "operator", "of", "apartment", "communities", "committed", "to", "providing", "great", "homes", "by", "focusing", "on", "integrity", "and", "serving", "others", ".", "Founded", "in", "1970", ",", "the", "company", "currently", "owns", "79", "apartment", "communities", "consisting", "of", "14,275", "homes", "located", "in", "Colorado", ",", "Minnesota", ",", "Montana", ",", "Nebraska", ",", "North", "Dakota", ",", "and", "South", "Dakota", ".", "Centerspace", "was", "named", "a", "Top", "Workplace", "for", "2021", "by", "the", "Minneapolis", "Star", "Tribune", ".", "For", "more", "information", ",", "please", "visit", "www.centerspacehomes.com", ".", "#", "#", "#", "If", "you", "would", "like", "more", "information", "about", "this", "topic", ",", "please", "contact", "Emily", "Miller", ",", "Investor", "Relations", ",", "at", "(", "701", ")", "837", "-", "7104", "or", "[email protected]", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1697851-000165495420007391-rekr_e992
EX-99.2 8 rekr_e992.htm PRESS RELEASE ISSUED ON JULY 1, 2020 rekr_e992 Exhibit 99.2 Rekor Systems Announces Agreement on Note Exchange Company to improve liquidity and financial stability Columbia, Md., July 1, 2020 -- Rekor Systems, Inc. (REKR) ("Rekor"), a Maryland-based company providing real-time roadway intelligence through AI-driven decisions, announced today that it has reached an agreement on a consensual balance-sheet restructuring with its lenders involving a debt-for-equity swap and other loan modifications. The transaction will have an immediate impact on the Rekor's balance sheet by extending the maturity and significantly reducing the amount of the Company's outstanding promissory notes. In March 2019, investors loaned Rekor $20,000,000 in exchange for senior secured promissory notes (the "Notes") and warrants. A portion of the Notes were previously redeemed. In an agreement reached yesterday note holders have agreed to a redemption of approximately 75% of the remaining principal balance of the Notes as of June 30, 2020. Upon closing of the transaction, approximately $14.6 million aggregate principal amount of the Notes, including accreted interest plus certain fees payable pursuant to the terms of the Notes, will be redeemed in exchange for common stock at a rate of $4 per share. The noteholders have also agreed that the maturity of the $4.9 million remaining balance of the Notes will be extended until December 31, 2021. "The agreement to this refinancing is an important milestone for the Company and is a critical next step in our journey," said Robert A. Berman, CEO, Rekor. "The new capital structure will give us the flexibility to invest in continued growth, immediately expand our go-to-market strategy and generate greater free cash flow going forward at all points in our business cycle." The holders of the remaining Notes have also agreed to modify certain covenants in the Notes, which will allow the Company to use proceeds from its recently completed corporate restructuring for working capital purposes. Rekor has completed the previously announced restructuring by selling its remaining non-core subsidiary. "This note exchange will be a giant step forward. It will immediately improve the Company's liquidity and financial stability. The covenant modifications will allow proceeds from the sale of our non-core subsidiary to be immediately directed to the rapid expansion of our high margin technology segment." said Eyal Hen, CFO Rekor. "The Company will also realize positive stockholder's equity and achieve a significant reduction in interest cost, which will further contribute to shareholder value." Closing of the Note exchange, and amendment of the remaining Notes, remains subject to satisfaction of customary closing conditions, including approval for the listing of the exchange shares by Nasdaq. About Rekor Systems, Inc. Rekor (Nasdaq:REKR) is a Maryland-based company providing real-time roadway intelligence through AI-driven decisions. Rekor bridges commercial and government sectors with actionable, real-time vehicle recognition data to enable informed decisions faster, and with greater outcomes. Rekor is transforming industries like Public Safety, Customer Experience, and Smart Cities in more than 70 countries across the globe with smarter, quicker, cost-competitive vehicle recognition solutions for security, revenue discovery and recovery, public safety, electronic toll collection, brand loyalty, parking operations, logistics, and traffic management. We use the power of artificial intelligence to analyze video streams and transform them into AI-driven decisions by our clients. Our machine learning software can turn most IP cameras into highly accurate and affordable vehicle recognition devices used to help protect lives, increase brand loyalty, and enhance operations and logistics, without the need to install expensive new infrastructure. We make what was once considered impossible, possible. To learn more please visit our website: https://rekor.ai . Forward-Looking Statements This press release includes statements concerning Rekor Systems, Inc. and its future expectations, plans and prospects that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the closing of the Note exchange and the amendment of the remaining Notes. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements that are not statements of historical fact may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may", "should," "expects", "plans", "anticipates", "could", "intends", "target," "projects", "contemplates", "believes", "estimates", "predicts," "potential", or "continue", by the negative of these terms or by other similar expressions. You are cautioned that such statements are subject to many risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual circumstances, events or results may differ materially from those projected in the forward-looking statements, particularly as a result of various risks and other factors identified in our filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events, or otherwise. Media Contact: Emily Burdeshaw REQ For Rekor Systems [email protected] Investor Contact: Charles Degliomini Rekor Systems, Inc. [email protected]
[ "EX", "-", "99", ".", "2", "8", "rekr", "_", "e992", ".", "htm", "PRESS", "RELEASE", "ISSUED", "ON", "JULY", "1", ",", "2020", "rekr", "_", "e992", "Exhibit", "99", ".", "2", "Rekor", "Systems", "Announces", "Agreement", "on", "Note", "Exchange", "Company", "to", "improve", "liquidity", "and", "financial", "stability", "Columbia", ",", "Md", ".", ",", "July", "1", ",", "2020", "--", "Rekor", "Systems", ",", "Inc", ".", "(", "REKR", ")", "(", "\"", "Rekor", "\"", ")", ",", "a", "Maryland", "-", "based", "company", "providing", "real", "-", "time", "roadway", "intelligence", "through", "AI", "-", "driven", "decisions", ",", "announced", "today", "that", "it", "has", "reached", "an", "agreement", "on", "a", "consensual", "balance", "-", "sheet", "restructuring", "with", "its", "lenders", "involving", "a", "debt", "-", "for", "-", "equity", "swap", "and", "other", "loan", "modifications", ".", "The", "transaction", "will", "have", "an", "immediate", "impact", "on", "the", "Rekor", "'s", "balance", "sheet", "by", "extending", "the", "maturity", "and", "significantly", "reducing", "the", "amount", "of", "the", "Company", "'s", "outstanding", "promissory", "notes", ".", "In", "March", "2019", ",", "investors", "loaned", "Rekor", "$", "20,000,000", "in", "exchange", "for", "senior", "secured", "promissory", "notes", "(", "the", "\"", "Notes", "\"", ")", "and", "warrants", ".", "A", "portion", "of", "the", "Notes", "were", "previously", "redeemed", ".", "In", "an", "agreement", "reached", "yesterday", "note", "holders", "have", "agreed", "to", "a", "redemption", "of", "approximately", "75", "%", "of", "the", "remaining", "principal", "balance", "of", "the", "Notes", "as", "of", "June", "30", ",", "2020", ".", "Upon", "closing", "of", "the", "transaction", ",", "approximately", "$", "14.6 million", "aggregate", "principal", "amount", "of", "the", "Notes", ",", "including", "accreted", "interest", "plus", "certain", "fees", "payable", "pursuant", "to", "the", "terms", "of", "the", "Notes", ",", "will", "be", "redeemed", "in", "exchange", "for", "common", "stock", "at", "a", "rate", "of", "$", "4", "per", "share", ".", "The", "noteholders", "have", "also", "agreed", "that", "the", "maturity", "of", "the", "$", "4.9 million", "remaining", "balance", "of", "the", "Notes", "will", "be", "extended", "until", "December", "31", ",", "2021", ".", "\"", "The", "agreement", "to", "this", "refinancing", "is", "an", "important", "milestone", "for", "the", "Company", "and", "is", "a", "critical", "next", "step", "in", "our", "journey", ",", "\"", "said", "Robert", "A", ".", "Berman", ",", "CEO", ",", "Rekor", ".", "\"", "The", "new", "capital", "structure", "will", "give", "us", "the", "flexibility", "to", "invest", "in", "continued", "growth", ",", "immediately", "expand", "our", "go", "-", "to", "-", "market", "strategy", "and", "generate", "greater", "free", "cash", "flow", "going", "forward", "at", "all", "points", "in", "our", "business", "cycle", ".", "\"", "The", "holders", "of", "the", "remaining", "Notes", "have", "also", "agreed", "to", "modify", "certain", "covenants", "in", "the", "Notes", ",", "which", "will", "allow", "the", "Company", "to", "use", "proceeds", "from", "its", "recently", "completed", "corporate", "restructuring", "for", "working", "capital", "purposes", ".", "Rekor", "has", "completed", "the", "previously", "announced", "restructuring", "by", "selling", "its", "remaining", "non", "-", "core", "subsidiary", ".", "\"", "This", "note", "exchange", "will", "be", "a", "giant", "step", "forward", ".", "It", "will", "immediately", "improve", "the", "Company", "'s", "liquidity", "and", "financial", "stability", ".", "The", "covenant", "modifications", "will", "allow", "proceeds", "from", "the", "sale", "of", "our", "non", "-", "core", "subsidiary", "to", "be", "immediately", "directed", "to", "the", "rapid", "expansion", "of", "our", "high", "margin", "technology", "segment", ".", "\"", "said", "Eyal", "Hen", ",", "CFO", "Rekor", ".", "\"", "The", "Company", "will", "also", "realize", "positive", "stockholder", "'s", "equity", "and", "achieve", "a", "significant", "reduction", "in", "interest", "cost", ",", "which", "will", "further", "contribute", "to", "shareholder", "value", ".", "\"", "Closing", "of", "the", "Note", "exchange", ",", "and", "amendment", "of", "the", "remaining", "Notes", ",", "remains", "subject", "to", "satisfaction", "of", "customary", "closing", "conditions", ",", "including", "approval", "for", "the", "listing", "of", "the", "exchange", "shares", "by", "Nasdaq", ".", "About", "Rekor", "Systems", ",", "Inc", ".", "Rekor", "(", "Nasdaq", ":", "REKR", ")", "is", "a", "Maryland", "-", "based", "company", "providing", "real", "-", "time", "roadway", "intelligence", "through", "AI", "-", "driven", "decisions", ".", "Rekor", "bridges", "commercial", "and", "government", "sectors", "with", "actionable", ",", "real", "-", "time", "vehicle", "recognition", "data", "to", "enable", "informed", "decisions", "faster", ",", "and", "with", "greater", "outcomes", ".", "Rekor", "is", "transforming", "industries", "like", "Public", "Safety", ",", "Customer", "Experience", ",", "and", "Smart", "Cities", "in", "more", "than", "70", "countries", "across", "the", "globe", "with", "smarter", ",", "quicker", ",", "cost", "-", "competitive", "vehicle", "recognition", "solutions", "for", "security", ",", "revenue", "discovery", "and", "recovery", ",", "public", "safety", ",", "electronic", "toll", "collection", ",", "brand", "loyalty", ",", "parking", "operations", ",", "logistics", ",", "and", "traffic", "management", ".", "We", "use", "the", "power", "of", "artificial", "intelligence", "to", "analyze", "video", "streams", "and", "transform", "them", "into", "AI", "-", "driven", "decisions", "by", "our", "clients", ".", "Our", "machine", "learning", "software", "can", "turn", "most", "IP", "cameras", "into", "highly", "accurate", "and", "affordable", "vehicle", "recognition", "devices", "used", "to", "help", "protect", "lives", ",", "increase", "brand", "loyalty", ",", "and", "enhance", "operations", "and", "logistics", ",", "without", "the", "need", "to", "install", "expensive", "new", "infrastructure", ".", "We", "make", "what", "was", "once", "considered", "impossible", ",", "possible", ".", "To", "learn", "more", "please", "visit", "our", "website", ":", "https://rekor.ai", ".", "Forward", "-", "Looking", "Statements", "This", "press", "release", "includes", "statements", "concerning", "Rekor", "Systems", ",", "Inc", ".", "and", "its", "future", "expectations", ",", "plans", "and", "prospects", "that", "constitute", "\"", "forward", "-", "looking", "statements", "\"", "within", "the", "meaning", "of", "Section", "27A", "of", "the", "Securities", "Act", "of", "1933", ",", "as", "amended", ",", "and", "Section", "21E", "of", "the", "Securities", "Exchange", "Act", "of", "1934", ",", "as", "amended", ",", "including", "statements", "regarding", "the", "closing", "of", "the", "Note", "exchange", "and", "the", "amendment", "of", "the", "remaining", "Notes", ".", "Such", "forward", "-", "looking", "statements", "are", "made", "pursuant", "to", "the", "safe", "harbor", "provisions", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "For", "this", "purpose", ",", "any", "statements", "that", "are", "not", "statements", "of", "historical", "fact", "may", "be", "deemed", "to", "be", "forward", "-", "looking", "statements", ".", "In", "some", "cases", ",", "you", "can", "identify", "forward", "-", "looking", "statements", "by", "terms", "such", "as", "\"", "may", "\"", ",", "\"", "should", ",", "\"", "\"", "expects", "\"", ",", "\"", "plans", "\"", ",", "\"", "anticipates", "\"", ",", "\"", "could", "\"", ",", "\"", "intends", "\"", ",", "\"", "target", ",", "\"", "\"", "projects", "\"", ",", "\"", "contemplates", "\"", ",", "\"", "believes", "\"", ",", "\"", "estimates", "\"", ",", "\"", "predicts", ",", "\"", "\"", "potential", "\"", ",", "or", "\"", "continue", "\"", ",", "by", "the", "negative", "of", "these", "terms", "or", "by", "other", "similar", "expressions", ".", "You", "are", "cautioned", "that", "such", "statements", "are", "subject", "to", "many", "risks", "and", "uncertainties", "that", "could", "cause", "future", "circumstances", ",", "events", ",", "or", "results", "to", "differ", "materially", "from", "those", "projected", "in", "the", "forward", "-", "looking", "statements", ",", "including", "the", "risks", "that", "actual", "circumstances", ",", "events", "or", "results", "may", "differ", "materially", "from", "those", "projected", "in", "the", "forward", "-", "looking", "statements", ",", "particularly", "as", "a", "result", "of", "various", "risks", "and", "other", "factors", "identified", "in", "our", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", ".", "All", "forward", "-", "looking", "statements", "contained", "in", "this", "press", "release", "speak", "only", "as", "of", "the", "date", "on", "which", "they", "were", "made", "and", "are", "based", "on", "management", "'s", "assumptions", "and", "estimates", "as", "of", "such", "date", ".", "We", "do", "not", "undertake", "any", "obligation", "to", "publicly", "update", "any", "forward", "-", "looking", "statements", ",", "whether", "as", "a", "result", "of", "the", "receipt", "of", "new", "information", ",", "the", "occurrence", "of", "future", "events", ",", "or", "otherwise", ".", "Media", "Contact", ":", "Emily", "Burdeshaw", "REQ", "For", "Rekor", "Systems", "[email protected]", "Investor", "Contact", ":", "Charles", "Degliomini", "Rekor", "Systems", ",", "Inc", ".", "[email protected]" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1102934-000110465918068794-a18-40189_1ex99d1
EX-99.1 3 a18-40189_1ex99d1.htm EX-99.1 Exhibit 99.1 PRESS RELEASE Cabot Microelectronics Corporation Completes Acquisition of KMG Chemicals · Significantly expands capabilities across consumables-based electronic materials, and adds high quality, growth-oriented performance materials products · KMG Electronic Chemicals business complements existing CMP product offerings and increases customer touchpoints with the world's leading semiconductor manufacturers · Acquired Performance Materials business provides exposure to new end-markets with attractive growth and profitability characteristics · Targets to achieve $25 million of estimated annual cost synergies within the first two years Aurora, IL., November 15, 2018 - Cabot Microelectronics Corporation (Nasdaq: CCMP), today announced that it has completed its previously announced acquisition of KMG Chemicals, Inc. As a result of the acquisition, KMG has become a wholly owned subsidiary of Cabot Microelectronics. Under the terms of the definitive agreement, each share of KMG common stock was converted into the right to receive $55.65 in cash and 0.2000 of a share of Cabot Microelectronics common stock, without interest and with cash paid in lieu of any fractional shares. The acquisition will extend and strengthen Cabot Microelectronics' position as one of the leading suppliers of consumable materials to the semiconductor industry. Additionally, the combined company will be a leading global provider of performance products and services for improving pipeline operations and optimizing throughput. The transaction is expected to be significantly accretive to Cabot Microelectronics' free cash flow and adjusted earnings per share in year one, excluding any acquisition-related costs. "I am pleased to announce that we have completed the KMG transaction. We welcome KMG's employees to our team and look forward to our journey together towards becoming the premier global provider of semiconductor and specialty materials. We believe that our employees, customers and shareholders will benefit from this transaction as we become a stronger company, focused on providing high-performing and innovative solutions to our customers", said David Li, President and CEO of Cabot Microelectronics. "KMG's industry-leading electronic materials business will expand our CMP product offerings with high-purity solutions used throughout the semiconductor manufacturing process. We are also excited about the addition of KMG's performance materials businesses to our portfolio which will allow us to expand our participation into new markets including the attractive, high-growth pipeline performance segment". In connection with the acquisition, Cabot Microelectronics borrowed $1.065 billion under a new senior secured term loan facility, the proceeds of which were used to finance in part the cash portion of the merger consideration, to repay KMG's existing indebtedness and to pay fees and expenses related to the acquisition. Cabot Microelectronics issued approximately 3.2 million shares of common stock to holders of KMG common stock for the stock portion of the merger consideration. ABOUT CABOT MICROELECTRONICS CORPORATION Cabot Microelectronics Corporation, headquartered in Aurora, Illinois, is the world's leading supplier of consumable materials to semiconductor manufacturers and pipeline operators. The company's products play a critical role in the production of advanced semiconductor devices, helping to enable the manufacture of smaller, faster and more complex devices by its customers. Cabot Microelectronics Corporation is also a leading supplier of performance materials to pipeline operators and industrial wood preservation industry. The company's mission is to create value by delivering high-performing and innovative solutions that solve its customers' challenges. The company has approximately 1,900 employees globally. For more information about Cabot Microelectronics Corporation, visit www.cabotcmp.com or contact Colleen Mumford, Director of Investor Relations, at 630-499-2600. FORWARD LOOKING STATEMENTS This press release contains forward-looking statements, which address a variety of subjects including, for example, the expected benefits of the acquisition of KMG by Cabot Microelectronics. Statements that are not historical facts, including statements about Cabot Microelectronics' beliefs, plans and expectations, are forward-looking statements. Such statements are based on current expectations of Cabot Microelectronics' management and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: higher than expected or unexpected costs associated with or relating to the acquisition; the risk that expected benefits, synergies and growth prospects of the acquisition may not be achieved in a timely manner or at all; the ability to successfully integrate KMG's business with Cabot Microelectronics; the risk that Cabot Microelectronics will be unable to retain and hire key personnel; and the risk that disruption from the acquisition may adversely affect Cabot Microelectronics' business and its relationships with customers, suppliers, distributors or employees. For additional information about factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to both Cabot Microelectronics' and KMG's filings with the Securities and Exchange Commission ("SEC"), including the risk factors contained in each of Cabot Microelectronics' and KMG's most recent Annual Reports on Form 10-K and the registration statement on Form S-4 filed by Cabot Microelectronics with respect to the shares of Cabot Microelectronics issued in connection with the acquisition. Forward-looking statements represent management's current expectations and are inherently uncertain. Except as required by law, Cabot Microelectronics undertakes no obligation to update forward-looking statements made by it to reflect new information, subsequent events or circumstances. Contact: Colleen Mumford Director of Investor Relations Cabot Microelectronics Corporation (630) 499-2600
[ "EX", "-", "99", ".", "1", "3", "a18", "-", "40189", "_", "1ex99d1", ".", "htm", "EX", "-", "99", ".", "1", "Exhibit", "99", ".", "1", "PRESS", "RELEASE", "Cabot", "Microelectronics", "Corporation", "Completes", "Acquisition", "of", "KMG", "Chemicals", "·", "Significantly", "expands", "capabilities", "across", "consumables", "-", "based", "electronic", "materials", ",", "and", "adds", "high", "quality", ",", "growth", "-", "oriented", "performance", "materials", "products", "·", "KMG", "Electronic", "Chemicals", "business", "complements", "existing", "CMP", "product", "offerings", "and", "increases", "customer", "touchpoints", "with", "the", "world", "'s", "leading", "semiconductor", "manufacturers", "·", "Acquired", "Performance", "Materials", "business", "provides", "exposure", "to", "new", "end", "-", "markets", "with", "attractive", "growth", "and", "profitability", "characteristics", "·", "Targets", "to", "achieve", "$", "25 million", "of", "estimated", "annual", "cost", "synergies", "within", "the", "first", "two", "years", "Aurora", ",", "IL", ".", ",", "November", "15", ",", "2018", "-", "Cabot", "Microelectronics", "Corporation", "(", "Nasdaq", ":", "CCMP", ")", ",", "today", "announced", "that", "it", "has", "completed", "its", "previously", "announced", "acquisition", "of", "KMG", "Chemicals", ",", "Inc", ".", "As", "a", "result", "of", "the", "acquisition", ",", "KMG", "has", "become", "a", "wholly", "owned", "subsidiary", "of", "Cabot", "Microelectronics", ".", "Under", "the", "terms", "of", "the", "definitive", "agreement", ",", "each", "share", "of", "KMG", "common", "stock", "was", "converted", "into", "the", "right", "to", "receive", "$", "55.65", "in", "cash", "and", "0", ".", "2000", "of", "a", "share", "of", "Cabot", "Microelectronics", "common", "stock", ",", "without", "interest", "and", "with", "cash", "paid", "in", "lieu", "of", "any", "fractional", "shares", ".", "The", "acquisition", "will", "extend", "and", "strengthen", "Cabot", "Microelectronics", "'", "position", "as", "one", "of", "the", "leading", "suppliers", "of", "consumable", "materials", "to", "the", "semiconductor", "industry", ".", "Additionally", ",", "the", "combined", "company", "will", "be", "a", "leading", "global", "provider", "of", "performance", "products", "and", "services", "for", "improving", "pipeline", "operations", "and", "optimizing", "throughput", ".", "The", "transaction", "is", "expected", "to", "be", "significantly", "accretive", "to", "Cabot", "Microelectronics", "'", "free", "cash", "flow", "and", "adjusted", "earnings", "per", "share", "in", "year", "one", ",", "excluding", "any", "acquisition", "-", "related", "costs", ".", "\"", "I", "am", "pleased", "to", "announce", "that", "we", "have", "completed", "the", "KMG", "transaction", ".", "We", "welcome", "KMG", "'s", "employees", "to", "our", "team", "and", "look", "forward", "to", "our", "journey", "together", "towards", "becoming", "the", "premier", "global", "provider", "of", "semiconductor", "and", "specialty", "materials", ".", "We", "believe", "that", "our", "employees", ",", "customers", "and", "shareholders", "will", "benefit", "from", "this", "transaction", "as", "we", "become", "a", "stronger", "company", ",", "focused", "on", "providing", "high", "-", "performing", "and", "innovative", "solutions", "to", "our", "customers", "\"", ",", "said", "David", "Li", ",", "President", "and", "CEO", "of", "Cabot", "Microelectronics", ".", "\"", "KMG", "'s", "industry", "-", "leading", "electronic", "materials", "business", "will", "expand", "our", "CMP", "product", "offerings", "with", "high", "-", "purity", "solutions", "used", "throughout", "the", "semiconductor", "manufacturing", "process", ".", "We", "are", "also", "excited", "about", "the", "addition", "of", "KMG", "'s", "performance", "materials", "businesses", "to", "our", "portfolio", "which", "will", "allow", "us", "to", "expand", "our", "participation", "into", "new", "markets", "including", "the", "attractive", ",", "high", "-", "growth", "pipeline", "performance", "segment", "\"", ".", "In", "connection", "with", "the", "acquisition", ",", "Cabot", "Microelectronics", "borrowed", "$", "1.065 billion", "under", "a", "new", "senior", "secured", "term", "loan", "facility", ",", "the", "proceeds", "of", "which", "were", "used", "to", "finance", "in", "part", "the", "cash", "portion", "of", "the", "merger", "consideration", ",", "to", "repay", "KMG", "'s", "existing", "indebtedness", "and", "to", "pay", "fees", "and", "expenses", "related", "to", "the", "acquisition", ".", "Cabot", "Microelectronics", "issued", "approximately", "3", ".", "2", "million", "shares", "of", "common", "stock", "to", "holders", "of", "KMG", "common", "stock", "for", "the", "stock", "portion", "of", "the", "merger", "consideration", ".", "ABOUT", "CABOT", "MICROELECTRONICS", "CORPORATION", "Cabot", "Microelectronics", "Corporation", ",", "headquartered", "in", "Aurora", ",", "Illinois", ",", "is", "the", "world", "'s", "leading", "supplier", "of", "consumable", "materials", "to", "semiconductor", "manufacturers", "and", "pipeline", "operators", ".", "The", "company", "'s", "products", "play", "a", "critical", "role", "in", "the", "production", "of", "advanced", "semiconductor", "devices", ",", "helping", "to", "enable", "the", "manufacture", "of", "smaller", ",", "faster", "and", "more", "complex", "devices", "by", "its", "customers", ".", "Cabot", "Microelectronics", "Corporation", "is", "also", "a", "leading", "supplier", "of", "performance", "materials", "to", "pipeline", "operators", "and", "industrial", "wood", "preservation", "industry", ".", "The", "company", "'s", "mission", "is", "to", "create", "value", "by", "delivering", "high", "-", "performing", "and", "innovative", "solutions", "that", "solve", "its", "customers", "'", "challenges", ".", "The", "company", "has", "approximately", "1,900", "employees", "globally", ".", "For", "more", "information", "about", "Cabot", "Microelectronics", "Corporation", ",", "visit", "www.cabotcmp.com", "or", "contact", "Colleen", "Mumford", ",", "Director", "of", "Investor", "Relations", ",", "at", "630", "-", "499", "-", "2600", ".", "FORWARD", "LOOKING", "STATEMENTS", "This", "press", "release", "contains", "forward", "-", "looking", "statements", ",", "which", "address", "a", "variety", "of", "subjects", "including", ",", "for", "example", ",", "the", "expected", "benefits", "of", "the", "acquisition", "of", "KMG", "by", "Cabot", "Microelectronics", ".", "Statements", "that", "are", "not", "historical", "facts", ",", "including", "statements", "about", "Cabot", "Microelectronics", "'", "beliefs", ",", "plans", "and", "expectations", ",", "are", "forward", "-", "looking", "statements", ".", "Such", "statements", "are", "based", "on", "current", "expectations", "of", "Cabot", "Microelectronics", "'", "management", "and", "are", "subject", "to", "a", "number", "of", "factors", "and", "uncertainties", ",", "which", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "described", "in", "the", "forward", "-", "looking", "statements", ".", "The", "following", "important", "factors", "and", "uncertainties", ",", "among", "others", ",", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "described", "in", "these", "forward", "-", "looking", "statements", ":", "higher", "than", "expected", "or", "unexpected", "costs", "associated", "with", "or", "relating", "to", "the", "acquisition", ";", "the", "risk", "that", "expected", "benefits", ",", "synergies", "and", "growth", "prospects", "of", "the", "acquisition", "may", "not", "be", "achieved", "in", "a", "timely", "manner", "or", "at", "all", ";", "the", "ability", "to", "successfully", "integrate", "KMG", "'s", "business", "with", "Cabot", "Microelectronics", ";", "the", "risk", "that", "Cabot", "Microelectronics", "will", "be", "unable", "to", "retain", "and", "hire", "key", "personnel", ";", "and", "the", "risk", "that", "disruption", "from", "the", "acquisition", "may", "adversely", "affect", "Cabot", "Microelectronics", "'", "business", "and", "its", "relationships", "with", "customers", ",", "suppliers", ",", "distributors", "or", "employees", ".", "For", "additional", "information", "about", "factors", "that", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "described", "in", "the", "forward", "-", "looking", "statements", ",", "please", "refer", "to", "both", "Cabot", "Microelectronics", "'", "and", "KMG", "'s", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", "(", "\"", "SEC", "\"", ")", ",", "including", "the", "risk", "factors", "contained", "in", "each", "of", "Cabot", "Microelectronics", "'", "and", "KMG", "'s", "most", "recent", "Annual", "Reports", "on", "Form", "10", "-", "K", "and", "the", "registration", "statement", "on", "Form", "S", "-", "4", "filed", "by", "Cabot", "Microelectronics", "with", "respect", "to", "the", "shares", "of", "Cabot", "Microelectronics", "issued", "in", "connection", "with", "the", "acquisition", ".", "Forward", "-", "looking", "statements", "represent", "management", "'s", "current", "expectations", "and", "are", "inherently", "uncertain", ".", "Except", "as", "required", "by", "law", ",", "Cabot", "Microelectronics", "undertakes", "no", "obligation", "to", "update", "forward", "-", "looking", "statements", "made", "by", "it", "to", "reflect", "new", "information", ",", "subsequent", "events", "or", "circumstances", ".", "Contact", ":", "Colleen", "Mumford", "Director", "of", "Investor", "Relations", "Cabot", "Microelectronics", "Corporation", "(", "630", ")", "499", "-", "2600" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1367311-000089710114001776-dakota144479_ex99-2
EX-99.2 8 dakota144479_ex99-2.htm PRESENTATION DATED DECEMBER 8, 2014 Exhibit 99.2 WWW. DAKOTAPLAINS. COM NYSE MKT: DAKP B UYOUT OF J OINT V ENTURES T O C ONTROL O UR F UTURE D ECEMBER 8, 2014 F ORWARD L OOKING S TATEMENTS Statements made by representatives of Dakota Plains Holdings, Inc. ("Dakota Plains" or the "Company") during the course of this presentation that are not historical facts, are forward - looking statements. These statements are based on certain assumptions and expectations made by the Company which reflect management's experience, estimates and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or anticipated in the forward - looking statements. These include risks relating to global economics or politics, our ability to obtain additional capital needed to implement our business plan, minimal operating history, loss of key personnel, lack of business diversification, reliance on strategic, third - party relationships, financial performance and results, prices and demand for oil, our ability to make acquisitions on economically acceptable terms, and other factors described from time to time in the Company's periodic reports filed with the SEC that could cause actual results to differ materially from those anticipated or implied in the forward - looking statements. Dakota Plains undertakes no obligation to publicly update any forward - looking statements, whether as a result of new information or future events. 2 Transforming the Business Acquired partner's 50% share of oil transloading JV, 50% share of sand transloading JV, and 50% share of oil marketing JV Secured indemnity for third party claims related to Lac Megantic Refinanced existing debt Divested 50% share of trucking JV Own 100% of the business, Pioneer Terminal and land Terminates under - performing JVs Removes direct commodity risk Mitigates Lac Megantic exposure Reduces cost of debt Refocuses business on fee - based, term contracts Frac Sand Logistics Crude Oil Storage & Logistics Our current Fee - based Services: 3 Inbound Outbound Transaction Details» Signed Definitive Agreement and closed on December 8, 2014» Acquisition of: - 50% share of DPTS (oil transloading) - 50% share DPTS Sand (sand transloading) - 50% share of DPTS Marketing (oil marketing)» Total consideration: - Payment of $43m cash - Future contingent payments at $0.225 per barrel on up to 80,000 bpd through 2026 (remainder of former JV term)» Funded with $57.5m credit facility provided by SunTrust Bank» Refinanced $7.7 m in Senior Unsecured Promissory Notes and $6.4m in debt related to the construction of the Pioneer Terminal» Indemnification agreement mitigates DAKP's contingent liability for Lac Megantic incident» Received $8.9m in cash distribution from the JVs» Former JV partner becomes a tenant at Pioneer Terminal with 15k bpd throughput contract» Retained rail car fleet. 4 Corporate Structure 5 Dakota Plains Holdings, Inc. 100% Dakota Plains Marketing, LLC 100% DPTS Marketing, LLC Dakota Plains Transloading, LLC 100% 100% Dakota Petroleum Transport Solutions, LLC Dakota Plains Sand, LLC 100% 100% DPTS Sand, LLC Going Forward x Business and ownership structure is greatly simplified x Results in 100% ownership of Pioneer Terminal for outbound crude oil storage & logistics and inbound frac sand logistics, with rail - car fleet as enabler x Contingent liability exposure to Lac Megantic is effectively mitigated x Direct commodity trading risk is eliminated x Refinancing significantly reduces our weighted average cost of debt x DAKP management focused on increasing the throughput at Pioneer via long - term, fee - based contracts, and on completing the construction of our storage tank expansion. 6
[ "EX", "-", "99", ".", "2", "8", "dakota144479", "_", "ex99", "-", "2", ".", "htm", "PRESENTATION", "DATED", "DECEMBER", "8", ",", "2014", "Exhibit", "99", ".", "2", "WWW", ".", "DAKOTAPLAINS", ".", "COM", "NYSE", "MKT", ":", "DAKP", "B", "UYOUT", "OF", "J", "OINT", "V", "ENTURES", "T", "O", "C", "ONTROL", "O", "UR", "F", "UTURE", "D", "ECEMBER", "8", ",", "2014", "F", "ORWARD", "L", "OOKING", "S", "TATEMENTS", "Statements", "made", "by", "representatives", "of", "Dakota", "Plains", "Holdings", ",", "Inc", ".", "(", "\"", "Dakota", "Plains", "\"", "or", "the", "\"", "Company", "\"", ")", "during", "the", "course", "of", "this", "presentation", "that", "are", "not", "historical", "facts", ",", "are", "forward", "-", "looking", "statements", ".", "These", "statements", "are", "based", "on", "certain", "assumptions", "and", "expectations", "made", "by", "the", "Company", "which", "reflect", "management", "'s", "experience", ",", "estimates", "and", "perception", "of", "historical", "trends", ",", "current", "conditions", ",", "anticipated", "future", "developments", "and", "other", "factors", "believed", "to", "be", "appropriate", ".", "Such", "statements", "are", "subject", "to", "a", "number", "of", "assumptions", ",", "risks", "and", "uncertainties", ",", "many", "of", "which", "are", "beyond", "the", "control", "of", "the", "Company", ",", "which", "may", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "implied", "or", "anticipated", "in", "the", "forward", "-", "looking", "statements", ".", "These", "include", "risks", "relating", "to", "global", "economics", "or", "politics", ",", "our", "ability", "to", "obtain", "additional", "capital", "needed", "to", "implement", "our", "business", "plan", ",", "minimal", "operating", "history", ",", "loss", "of", "key", "personnel", ",", "lack", "of", "business", "diversification", ",", "reliance", "on", "strategic", ",", "third", "-", "party", "relationships", ",", "financial", "performance", "and", "results", ",", "prices", "and", "demand", "for", "oil", ",", "our", "ability", "to", "make", "acquisitions", "on", "economically", "acceptable", "terms", ",", "and", "other", "factors", "described", "from", "time", "to", "time", "in", "the", "Company", "'s", "periodic", "reports", "filed", "with", "the", "SEC", "that", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "anticipated", "or", "implied", "in", "the", "forward", "-", "looking", "statements", ".", "Dakota", "Plains", "undertakes", "no", "obligation", "to", "publicly", "update", "any", "forward", "-", "looking", "statements", ",", "whether", "as", "a", "result", "of", "new", "information", "or", "future", "events", ".", "2", "Transforming", "the", "Business", "Acquired", "partner", "'s", "50", "%", "share", "of", "oil", "trans", "loading", "JV", ",", "50", "%", "share", "of", "sand", "trans", "loading", "JV", ",", "and", "50", "%", "share", "of", "oil", "marketing", "JV", "Secured", "indemnity", "for", "third", "party", "claims", "related", "to", "Lac", "Megantic", "Refinanced", "existing", "debt", "Divested", "50", "%", "share", "of", "trucking", "JV", "Own", "100", "%", "of", "the", "business", ",", "Pioneer", "Terminal", "and", "land", "Terminates", "under", "-", "performing", "JVs", "Removes", "direct", "commodity", "risk", "Mitigates", "Lac", "Megantic", "exposure", "Reduces", "cost", "of", "debt", "Refocuses", "business", "on", "fee", "-", "based", ",", "term", "contracts", "Frac", "Sand", "Logistics", "Crude", "Oil", "Storage", "&", "Logistics", "Our", "current", "Fee", "-", "based", "Services", ":", "3", "Inbound", "Outbound", "Transaction", "Details", "»", "Signed", "Definitive", "Agreement", "and", "closed", "on", "December", "8", ",", "2014", "»", "Acquisition", "of", ":", "-", "50", "%", "share", "of", "DPTS", "(", "oil", "trans", "loading", ")", "-", "50", "%", "share", "DPTS", "Sand", "(", "sand", "trans", "loading", ")", "-", "50", "%", "share", "of", "DPTS", "Marketing", "(", "oil", "marketing", ")", "»", "Total", "consideration", ":", "-", "Payment", "of", "$", "43m", "cash", "-", "Future", "contingent", "payments", "at", "$", "0.225", "per", "barrel", "on", "up", "to", "80,000", "bpd", "through", "2026", "(", "remainder", "of", "former", "JV", "term", ")", "»", "Funded", "with", "$", "57.5m", "credit", "facility", "provided", "by", "SunTrust", "Bank", "»", "Refinanced", "$", "7.7 m", "in", "Senior", "Unsecured", "Promissory", "Notes", "and", "$", "6.4m", "in", "debt", "related", "to", "the", "construction", "of", "the", "Pioneer", "Terminal", "»", "Indemnification", "agreement", "mitigates", "DAKP", "'s", "contingent", "liability", "for", "Lac", "Megantic", "incident", "»", "Received", "$", "8.9m", "in", "cash", "distribution", "from", "the", "JVs", "»", "Former", "JV", "partner", "becomes", "a", "tenant", "at", "Pioneer", "Terminal", "with", "15k", "bpd", "throughput", "contract", "»", "Retained", "rail", "car", "fleet", ".", "4", "Corporate", "Structure", "5", "Dakota", "Plains", "Holdings", ",", "Inc", ".", "100", "%", "Dakota", "Plains", "Marketing", ",", "LLC", "100", "%", "DPTS", "Marketing", ",", "LLC", "Dakota", "Plains", "Transloading", ",", "LLC", "100", "%", "100", "%", "Dakota", "Petroleum", "Transport", "Solutions", ",", "LLC", "Dakota", "Plains", "Sand", ",", "LLC", "100", "%", "100", "%", "DPTS", "Sand", ",", "LLC", "Going", "Forward", "x", "Business", "and", "ownership", "structure", "is", "greatly", "simplified", "x", "Results", "in", "100", "%", "ownership", "of", "Pioneer", "Terminal", "for", "outbound", "crude", "oil", "storage", "&", "logistics", "and", "inbound", "frac", "sand", "logistics", ",", "with", "rail", "-", "car", "fleet", "as", "enabler", "x", "Contingent", "liability", "exposure", "to", "Lac", "Megantic", "is", "effectively", "mitigated", "x", "Direct", "commodity", "trading", "risk", "is", "eliminated", "x", "Refinancing", "significantly", "reduces", "our", "weighted", "average", "cost", "of", "debt", "x", "DAKP", "management", "focused", "on", "increasing", "the", "throughput", "at", "Pioneer", "via", "long", "-", "term", ",", "fee", "-", "based", "contracts", ",", "and", "on", "completing", "the", "construction", "of", "our", "storage", "tank", "expansion", ".", "6" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1046050-000093905718000489-exhibit99110118
EX-99.1 3 exhibit99110118.htm EXHIBIT 99.1 Exhibit 99.1 Contact: Michael R. Sand, President & CEO Dean J. Brydon, CFO (360) 533-4747 www.timberlandbank.com Timberland Bancorp, Inc. Announces Completion of Acquisition of South Sound Bank Hoquiam, WA - October 1, 2018, Timberland Bancorp, Inc. (NASDAQ:TSBK) ("Timberland") the parent company of Timberland Bank, announced that it completed, effective October 1, 2018, the acquisition of South Sound Bank. Timberland, Timberland Bank and South Sound Bank entered into the merger agreement in connection with the transaction on May 22, 2018. Under the terms of the Agreement, South Sound Bank shareholders will receive 904,826 shares of Timberland common stock and $6.9 million in cash (fixed per share consideration of (i) 0.7460 of a share of Timberland common stock and (ii) $5.68825 in cash). Cash will be paid in lieu of any fractional shares. South Sound Bank had $181.9 million in assets, $122.6 million in loans and $155.2 million in deposits at June 30, 2018. Michael R. Sand, President and Chief Executive Officer of Timberland and Timberland Bank, said, "We are pleased to welcome the customers and employees of South Sound Bank to the Timberland family. We look forward to deepening existing customer relationships with the enhanced and additional services offered by Timberland Bank". "We are pleased to welcome Daniel D. Yerrington to the Boards of Directors of Timberland and Timberland Bank", said Jon C. Parker, Chairman of the Boards. "Dan was a founding member of South Sound Bank, served as its President and CEO and has extensive leadership and banking experience. He is also actively involved in community activities in Thurston County". About Timberland Bancorp, Inc. Timberland Bancorp, Inc., a Washington corporation, is the holding company for Timberland Bank. Timberland Bank opened for business in 1915 and serves consumers and businesses across Grays Harbor, Thurston, Pierce, King, Kitsap and Lewis counties, Washington with a full range of lending and deposit services through its 24 branches (including its main office in Hoquiam). FORWARD-LOOKING STATEMENTS This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as "may", "expected", "anticipate", "continue", or other comparable words. In addition, all statements other than statements of historical facts that address activities that Heritage expects or anticipates will or may occur in the future are forward- looking statements. Readers are encouraged to read the Securities and Exchange Commission reports of Timberland, particularly the Form S-4 and its Form 10-K for the year ended September 30, 2017, for meaningful cautionary language discussing why actual results may vary materially from those anticipated by management. Specific risks in this press release include among other things: the expected cost savings, synergies and other financial benefits from the acquisition of South Sound Bank might not be realized within the expected time frames or at all, and costs or difficulties relating to integration matters might be greater than expected.
[ "EX", "-", "99", ".", "1", "3", "exhibit99110118", ".", "htm", "EXHIBIT", "99", ".", "1", "Exhibit", "99", ".", "1", "Contact", ":", "Michael", "R", ".", "Sand", ",", "President", "&", "CEO", "Dean", "J", ".", "Brydon", ",", "CFO", "(", "360", ")", "533", "-", "4747", "www.timberlandbank.com", "Timberland", "Bancorp", ",", "Inc", ".", "Announces", "Completion", "of", "Acquisition", "of", "South", "Sound", "Bank", "Hoquiam", ",", "WA", "-", "October", "1", ",", "2018", ",", "Timberland", "Bancorp", ",", "Inc", ".", "(", "NASDAQ", ":", "TSBK", ")", "(", "\"", "Timberland", "\"", ")", "the", "parent", "company", "of", "Timberland", "Bank", ",", "announced", "that", "it", "completed", ",", "effective", "October", "1", ",", "2018", ",", "the", "acquisition", "of", "South", "Sound", "Bank", ".", "Timberland", ",", "Timberland", "Bank", "and", "South", "Sound", "Bank", "entered", "into", "the", "merger", "agreement", "in", "connection", "with", "the", "transaction", "on", "May", "22", ",", "2018", ".", "Under", "the", "terms", "of", "the", "Agreement", ",", "South", "Sound", "Bank", "shareholders", "will", "receive", "904,826", "shares", "of", "Timberland", "common", "stock", "and", "$", "6.9 million", "in", "cash", "(", "fixed", "per", "share", "consideration", "of", "(", "i", ")", "0", ".", "7460", "of", "a", "share", "of", "Timberland", "common", "stock", "and", "(", "ii", ")", "$", "5.68825", "in", "cash", ")", ".", "Cash", "will", "be", "paid", "in", "lieu", "of", "any", "fractional", "shares", ".", "South", "Sound", "Bank", "had", "$", "181.9 million", "in", "assets", ",", "$", "122.6 million", "in", "loans", "and", "$", "155.2 million", "in", "deposits", "at", "June", "30", ",", "2018", ".", "Michael", "R", ".", "Sand", ",", "President", "and", "Chief", "Executive", "Officer", "of", "Timberland", "and", "Timberland", "Bank", ",", "said", ",", "\"", "We", "are", "pleased", "to", "welcome", "the", "customers", "and", "employees", "of", "South", "Sound", "Bank", "to", "the", "Timberland", "family", ".", "We", "look", "forward", "to", "deepening", "existing", "customer", "relationships", "with", "the", "enhanced", "and", "additional", "services", "offered", "by", "Timberland", "Bank", "\"", ".", "\"", "We", "are", "pleased", "to", "welcome", "Daniel", "D.", "Yerrington", "to", "the", "Boards", "of", "Directors", "of", "Timberland", "and", "Timberland", "Bank", "\"", ",", "said", "Jon", "C", ".", "Parker", ",", "Chairman", "of", "the", "Boards", ".", "\"", "Dan", "was", "a", "founding", "member", "of", "South", "Sound", "Bank", ",", "served", "as", "its", "President", "and", "CEO", "and", "has", "extensive", "leadership", "and", "banking", "experience", ".", "He", "is", "also", "actively", "involved", "in", "community", "activities", "in", "Thurston", "County", "\"", ".", "About", "Timberland", "Bancorp", ",", "Inc", ".", "Timberland", "Bancorp", ",", "Inc", ".", ",", "a", "Washington", "corporation", ",", "is", "the", "holding", "company", "for", "Timberland", "Bank", ".", "Timberland", "Bank", "opened", "for", "business", "in", "1915", "and", "serves", "consumers", "and", "businesses", "across", "Grays", "Harbor", ",", "Thurston", ",", "Pierce", ",", "King", ",", "Kitsap", "and", "Lewis", "counties", ",", "Washington", "with", "a", "full", "range", "of", "lending", "and", "deposit", "services", "through", "its", "24", "branches", "(", "including", "its", "main", "office", "in", "Hoquiam", ")", ".", "FORWARD", "-", "LOOKING", "STATEMENTS", "This", "press", "release", "includes", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ",", "which", "can", "be", "identified", "by", "words", "such", "as", "\"", "may", "\"", ",", "\"", "expected", "\"", ",", "\"", "anticipate", "\"", ",", "\"", "continue", "\"", ",", "or", "other", "comparable", "words", ".", "In", "addition", ",", "all", "statements", "other", "than", "statements", "of", "historical", "facts", "that", "address", "activities", "that", "Heritage", "expects", "or", "anticipates", "will", "or", "may", "occur", "in", "the", "future", "are", "forward", "-", "looking", "statements", ".", "Readers", "are", "encouraged", "to", "read", "the", "Securities", "and", "Exchange", "Commission", "reports", "of", "Timberland", ",", "particularly", "the", "Form", "S", "-", "4", "and", "its", "Form", "10", "-", "K", "for", "the", "year", "ended", "September", "30", ",", "2017", ",", "for", "meaningful", "cautionary", "language", "discussing", "why", "actual", "results", "may", "vary", "materially", "from", "those", "anticipated", "by", "management", ".", "Specific", "risks", "in", "this", "press", "release", "include", "among", "other", "things", ":", "the", "expected", "cost", "savings", ",", "synergies", "and", "other", "financial", "benefits", "from", "the", "acquisition", "of", "South", "Sound", "Bank", "might", "not", "be", "realized", "within", "the", "expected", "time", "frames", "or", "at", "all", ",", "and", "costs", "or", "difficulties", "relating", "to", "integration", "matters", "might", "be", "greater", "than", "expected", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1279363-000127936318000051-pr9418
EX-99.1 2 pr9418.htm PRESS RELEASE DATED SEPTEMBER 4, 2018 Exhibit Return to Form 8-K Exhibit 99.1 WELLCARE COMPLETES ACQUISITION OF MERIDIAN TAMPA, Fla. (Sep. 4, 2018) - WellCare Health Plans, Inc. (NYSE: WCG) ("WellCare") announced today that, effective September 1, 2018, it completed its acquisition of Meridian Health Plan of Michigan, Inc., Meridian Health Plan of Illinois, Inc., and MeridianRx, a pharmacy benefit manager (PBM) (collectively, "Meridian") following the receipt of all required regulatory approvals. With the closing of the acquisition, Meridian is now a wholly-owned subsidiary of WellCare. "We are excited to complete our acquisition of Meridian", said Ken Burdick, WellCare's CEO. "This transaction grows and diversifies our Medicaid membership by nearly 40 percent, increases our Medicare Advantage presence in new markets, adds a proprietary PBM platform, and enhances WellCare's integrated dual-eligible and Marketplace capabilities, positioning us for further growth within government-sponsored programs". "WellCare and Meridian have a shared commitment to quality - with Meridian maintaining high quality and accredited Medicaid plans in both Michigan and Illinois. We look forward to leveraging best practices across the entire company in order to improve quality for all of our members", continued Burdick. "We also want to welcome Meridian associates, members, agents, and providers to WellCare". The transaction is expected to produce $0.40 to $0.50 of accretion to WellCare's adjusted earnings per share in 2019, $0.70 to $0.80 of accretion in 2020, and $1.00+ of accretion in 2021, inclusive of $30 million to $40 million in synergies that will ramp up over the next few years and exclusive of one-time transaction-related expenses of $75 million to $85 million and cumulative integration-related expenses of $50 million to $60 million. Meridian was one of the largest privately-held, for-profit managed care organizations in the U.S. and served approximately 1.1 million Medicaid, Medicare Advantage (MA), integrated dual-eligible and Health Insurance Marketplace members as of June 30, 2018 in Michigan, Illinois, Indiana and Ohio. Meridian dedicated more than 20 years to providing compassionate and quality care to its members as demonstrated by achieving high quality ratings from the widely respected National Committee for Quality Assurance (NCQA) for its Medicaid health plans in Michigan and Illinois. About WellCare Health Plans, Inc. Headquartered in Tampa, Fla., WellCare Health Plans, Inc. (NYSE: WCG) focuses exclusively on providing government-sponsored managed care services, primarily through Medicaid, Medicare 1 Advantage and Medicare Prescription Drug Plans, to families, children, seniors and individuals with complex medical needs. The Company served approximately 4.4 million members nationwide as of June 30, 2018. For more information about WellCare, please visit the Company's website at www.wellcare.com. Basis of Presentation In addition to results determined under GAAP, WellCare provides certain non-GAAP financial measures that management believes are useful in assessing the company's performance. Non-GAAP financial measures should be considered in addition to, but not as a substitute for, or superior to, financial measures prepared in accordance with GAAP. Earnings per share have been adjusted for the effect of certain expenses, and as appropriate, the related tax effect, related to previously disclosed government investigations and related litigation and resolution costs ("investigation costs"); amortization expense associated with acquisitions ("acquisition-related amortization expenses"); and certain one-time transaction and integration costs related to the acquisition of Universal American and Meridian ("transaction and integration costs"). Although the excluded items may recur, WellCare believes that by providing non-GAAP measures exclusive of these items, it facilitates period-over-period comparisons and provides additional clarity about events and trends affecting its core operating performance, as well as providing comparability to competitor results. The investigation costs are related to a discrete incident which management does not expect to reoccur. WellCare has adjusted for acquisition-related amortization expenses as these transactions do not directly relate to the servicing of products for our customers and are not directly related to the core performance of its business operations. The transaction and integrations costs are related to a specific 2017 and 2018 events, which do not reflect the underlying ongoing performance of the business. The company is not able to project at the time of this news release the amount of expenses associated with investigation costs, the timing of transaction and integration costs and, therefore, cannot reconcile projected non-GAAP measures affected by these items to projected GAAP measures. Cautionary Statement Regarding Forward-Looking Statements This news release contains "forward-looking" statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", "will", and similar expressions are forward-looking statements. For example, statements regarding the company's financial outlook and financial impact of the transaction contain forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may cause WellCare's actual future results to differ materially from those projected or contemplated in the forward-looking statements. These risks and uncertainties include, but are not limited to, the ability to achieve 2 expected synergies within the expected time frames or at all, the ability to achieve accretion to WellCare's earnings, revenues or other benefits expected, disruption to business relationships, operating results, and business generally of WellCare and/or Meridian and the ability to retain Meridian employees, WellCare's progress on top priorities such as improving health care quality and access, ensuring a competitive cost position, and delivering prudent, profitable growth, WellCare's ability to effectively estimate and manage growth, WellCare's ability to effectively execute and integrate acquisitions, potential reductions in Medicaid and Medicare revenue, WellCare's ability to estimate and manage medical benefits expense effectively, including through its vendors, its ability to negotiate actuarially sound rates, especially in new programs with limited experience, the appropriation and payment by state governments of Medicaid premiums receivable, the outcome of any protests and litigation related to Medicaid awards, the approval of Medicaid contracts by CMS, any changes to the programs or contracts, WellCare's ability to address operational challenges related to new business, and WellCare's ability to meet the requirements of readiness reviews. Given the risks and uncertainties inherent in forward-looking statements, any of WellCare's forward-looking statements could be incorrect and investors are cautioned not to place undue reliance on any of our forward-looking statements. Additional information concerning these and other important risks and uncertainties can be found in the company's filings with the U.S. Securities and Exchange Commission, included under the captions "Forward-Looking Statements" and "Risk Factors" in the company's Annual Report on Form 10-K for the year ended December 31, 2017, and in the company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2018, which contain discussions of WellCare's business and the various factors that may affect it. Subsequent events and developments may cause actual results to differ, perhaps materially, from WellCare's forward-looking statements. WellCare's forward-looking statements speak only as of the date on which the statements are made. WellCare undertakes no duty, and expressly disclaims any obligation, to update these forward-looking statements to reflect any future events, developments or otherwise. CONTACTS: Investors Media Beau Garverick 813-206-2329 [email protected] Chris Curran 813-206-5428 [email protected] Matt Humphries 813-206-6096 [email protected] 3
[ "EX", "-", "99", ".", "1", "2", "pr9418", ".", "htm", "PRESS", "RELEASE", "DATED", "SEPTEMBER", "4", ",", "2018", "Exhibit", "Return", "to", "Form", "8", "-", "K", "Exhibit", "99", ".", "1", "WELLCARE", "COMPLETES", "ACQUISITION", "OF", "MERIDIAN", "TAMPA", ",", "Fla", ".", "(", "Sep.", "4", ",", "2018", ")", "-", "WellCare", "Health", "Plans", ",", "Inc", ".", "(", "NYSE", ":", "WCG", ")", "(", "\"", "WellCare", "\"", ")", "announced", "today", "that", ",", "effective", "September", "1", ",", "2018", ",", "it", "completed", "its", "acquisition", "of", "Meridian", "Health", "Plan", "of", "Michigan", ",", "Inc", ".", ",", "Meridian", "Health", "Plan", "of", "Illinois", ",", "Inc", ".", ",", "and", "MeridianRx", ",", "a", "pharmacy", "benefit", "manager", "(", "PBM", ")", "(", "collectively", ",", "\"", "Meridian", "\"", ")", "following", "the", "receipt", "of", "all", "required", "regulatory", "approvals", ".", "With", "the", "closing", "of", "the", "acquisition", ",", "Meridian", "is", "now", "a", "wholly", "-", "owned", "subsidiary", "of", "WellCare", ".", "\"", "We", "are", "excited", "to", "complete", "our", "acquisition", "of", "Meridian", "\"", ",", "said", "Ken", "Burdick", ",", "WellCare", "'s", "CEO", ".", "\"", "This", "transaction", "grows", "and", "diversifies", "our", "Medicaid", "membership", "by", "nearly", "40", "percent", ",", "increases", "our", "Medicare", "Advantage", "presence", "in", "new", "markets", ",", "adds", "a", "proprietary", "PBM", "platform", ",", "and", "enhances", "WellCare", "'s", "integrated", "dual", "-", "eligible", "and", "Marketplace", "capabilities", ",", "positioning", "us", "for", "further", "growth", "within", "government", "-", "sponsored", "programs", "\"", ".", "\"", "WellCare", "and", "Meridian", "have", "a", "shared", "commitment", "to", "quality", "-", "with", "Meridian", "maintaining", "high", "quality", "and", "accredited", "Medicaid", "plans", "in", "both", "Michigan", "and", "Illinois", ".", "We", "look", "forward", "to", "leveraging", "best", "practices", "across", "the", "entire", "company", "in", "order", "to", "improve", "quality", "for", "all", "of", "our", "members", "\"", ",", "continued", "Burdick", ".", "\"", "We", "also", "want", "to", "welcome", "Meridian", "associates", ",", "members", ",", "agents", ",", "and", "providers", "to", "WellCare", "\"", ".", "The", "transaction", "is", "expected", "to", "produce", "$", "0.40", "to", "$", "0.50", "of", "accretion", "to", "WellCare", "'s", "adjusted", "earnings", "per", "share", "in", "2019", ",", "$", "0.70", "to", "$", "0.80", "of", "accretion", "in", "2020", ",", "and", "$", "1.00", "+", "of", "accretion", "in", "2021", ",", "inclusive", "of", "$", "30 million", "to", "$", "40 million", "in", "synergies", "that", "will", "ramp", "up", "over", "the", "next", "few", "years", "and", "exclusive", "of", "one", "-", "time", "transaction", "-", "related", "expenses", "of", "$", "75 million", "to", "$", "85 million", "and", "cumulative", "integration", "-", "related", "expenses", "of", "$", "50 million", "to", "$", "60 million", ".", "Meridian", "was", "one", "of", "the", "largest", "privately", "-", "held", ",", "for", "-", "profit", "managed", "care", "organizations", "in", "the", "U", ".", "S", ".", "and", "served", "approximately", "1", ".", "1", "million", "Medicaid", ",", "Medicare", "Advantage", "(", "MA", ")", ",", "integrated", "dual", "-", "eligible", "and", "Health", "Insurance", "Marketplace", "members", "as", "of", "June", "30", ",", "2018", "in", "Michigan", ",", "Illinois", ",", "Indiana", "and", "Ohio", ".", "Meridian", "dedicated", "more", "than", "20", "years", "to", "providing", "compassionate", "and", "quality", "care", "to", "its", "members", "as", "demonstrated", "by", "achieving", "high", "quality", "ratings", "from", "the", "widely", "respected", "National", "Committee", "for", "Quality", "Assurance", "(", "NCQA", ")", "for", "its", "Medicaid", "health", "plans", "in", "Michigan", "and", "Illinois", ".", "About", "WellCare", "Health", "Plans", ",", "Inc", ".", "Headquartered", "in", "Tampa", ",", "Fla", ".", ",", "WellCare", "Health", "Plans", ",", "Inc", ".", "(", "NYSE", ":", "WCG", ")", "focuses", "exclusively", "on", "providing", "government", "-", "sponsored", "managed", "care", "services", ",", "primarily", "through", "Medicaid", ",", "Medicare", "1", "Advantage", "and", "Medicare", "Prescription", "Drug", "Plans", ",", "to", "families", ",", "children", ",", "seniors", "and", "individuals", "with", "complex", "medical", "needs", ".", "The", "Company", "served", "approximately", "4", ".", "4", "million", "members", "nationwide", "as", "of", "June", "30", ",", "2018", ".", "For", "more", "information", "about", "WellCare", ",", "please", "visit", "the", "Company", "'s", "website", "at", "www.wellcare.com", ".", "Basis", "of", "Presentation", "In", "addition", "to", "results", "determined", "under", "GAAP", ",", "WellCare", "provides", "certain", "non", "-", "GAAP", "financial", "measures", "that", "management", "believes", "are", "useful", "in", "assessing", "the", "company", "'s", "performance", ".", "Non", "-", "GAAP", "financial", "measures", "should", "be", "considered", "in", "addition", "to", ",", "but", "not", "as", "a", "substitute", "for", ",", "or", "superior", "to", ",", "financial", "measures", "prepared", "in", "accordance", "with", "GAAP", ".", "Earnings", "per", "share", "have", "been", "adjusted", "for", "the", "effect", "of", "certain", "expenses", ",", "and", "as", "appropriate", ",", "the", "related", "tax", "effect", ",", "related", "to", "previously", "disclosed", "government", "investigations", "and", "related", "litigation", "and", "resolution", "costs", "(", "\"", "investigation", "costs", "\"", ")", ";", "amortization", "expense", "associated", "with", "acquisitions", "(", "\"", "acquisition", "-", "related", "amortization", "expenses", "\"", ")", ";", "and", "certain", "one", "-", "time", "transaction", "and", "integration", "costs", "related", "to", "the", "acquisition", "of", "Universal", "American", "and", "Meridian", "(", "\"", "transaction", "and", "integration", "costs", "\"", ")", ".", "Although", "the", "excluded", "items", "may", "recur", ",", "WellCare", "believes", "that", "by", "providing", "non", "-", "GAAP", "measures", "exclusive", "of", "these", "items", ",", "it", "facilitates", "period", "-", "over", "-", "period", "comparisons", "and", "provides", "additional", "clarity", "about", "events", "and", "trends", "affecting", "its", "core", "operating", "performance", ",", "as", "well", "as", "providing", "comparability", "to", "competitor", "results", ".", "The", "investigation", "costs", "are", "related", "to", "a", "discrete", "incident", "which", "management", "does", "not", "expect", "to", "reoccur", ".", "WellCare", "has", "adjusted", "for", "acquisition", "-", "related", "amortization", "expenses", "as", "these", "transactions", "do", "not", "directly", "relate", "to", "the", "servicing", "of", "products", "for", "our", "customers", "and", "are", "not", "directly", "related", "to", "the", "core", "performance", "of", "its", "business", "operations", ".", "The", "transaction", "and", "integrations", "costs", "are", "related", "to", "a", "specific", "2017", "and", "2018", "events", ",", "which", "do", "not", "reflect", "the", "underlying", "ongoing", "performance", "of", "the", "business", ".", "The", "company", "is", "not", "able", "to", "project", "at", "the", "time", "of", "this", "news", "release", "the", "amount", "of", "expenses", "associated", "with", "investigation", "costs", ",", "the", "timing", "of", "transaction", "and", "integration", "costs", "and", ",", "therefore", ",", "can", "not", "reconcile", "projected", "non", "-", "GAAP", "measures", "affected", "by", "these", "items", "to", "projected", "GAAP", "measures", ".", "Cautionary", "Statement", "Regarding", "Forward", "-", "Looking", "Statements", "This", "news", "release", "contains", "\"", "forward", "-", "looking", "\"", "statements", "that", "are", "made", "pursuant", "to", "the", "safe", "harbor", "provisions", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "Statements", "that", "are", "predictive", "in", "nature", ",", "that", "depend", "upon", "or", "refer", "to", "future", "events", "or", "conditions", ",", "or", "that", "include", "words", "such", "as", "\"", "expects", "\"", ",", "\"", "anticipates", "\"", ",", "\"", "intends", "\"", ",", "\"", "plans", "\"", ",", "\"", "believes", "\"", ",", "\"", "estimates", "\"", ",", "\"", "will", "\"", ",", "and", "similar", "expressions", "are", "forward", "-", "looking", "statements", ".", "For", "example", ",", "statements", "regarding", "the", "company", "'s", "financial", "outlook", "and", "financial", "impact", "of", "the", "transaction", "contain", "forward", "-", "looking", "statements", ".", "Forward", "-", "looking", "statements", "involve", "known", "and", "unknown", "risks", "and", "uncertainties", "that", "may", "cause", "WellCare", "'s", "actual", "future", "results", "to", "differ", "materially", "from", "those", "projected", "or", "contemplated", "in", "the", "forward", "-", "looking", "statements", ".", "These", "risks", "and", "uncertainties", "include", ",", "but", "are", "not", "limited", "to", ",", "the", "ability", "to", "achieve", "2", "expected", "synergies", "within", "the", "expected", "time", "frames", "or", "at", "all", ",", "the", "ability", "to", "achieve", "accretion", "to", "WellCare", "'s", "earnings", ",", "revenues", "or", "other", "benefits", "expected", ",", "disruption", "to", "business", "relationships", ",", "operating", "results", ",", "and", "business", "generally", "of", "WellCare", "and", "/", "or", "Meridian", "and", "the", "ability", "to", "retain", "Meridian", "employees", ",", "WellCare", "'s", "progress", "on", "top", "priorities", "such", "as", "improving", "health", "care", "quality", "and", "access", ",", "ensuring", "a", "competitive", "cost", "position", ",", "and", "delivering", "prudent", ",", "profitable", "growth", ",", "WellCare", "'s", "ability", "to", "effectively", "estimate", "and", "manage", "growth", ",", "WellCare", "'s", "ability", "to", "effectively", "execute", "and", "integrate", "acquisitions", ",", "potential", "reductions", "in", "Medicaid", "and", "Medicare", "revenue", ",", "WellCare", "'s", "ability", "to", "estimate", "and", "manage", "medical", "benefits", "expense", "effectively", ",", "including", "through", "its", "vendors", ",", "its", "ability", "to", "negotiate", "actuarially", "sound", "rates", ",", "especially", "in", "new", "programs", "with", "limited", "experience", ",", "the", "appropriation", "and", "payment", "by", "state", "governments", "of", "Medicaid", "premiums", "receivable", ",", "the", "outcome", "of", "any", "protests", "and", "litigation", "related", "to", "Medicaid", "awards", ",", "the", "approval", "of", "Medicaid", "contracts", "by", "CMS", ",", "any", "changes", "to", "the", "programs", "or", "contracts", ",", "WellCare", "'s", "ability", "to", "address", "operational", "challenges", "related", "to", "new", "business", ",", "and", "WellCare", "'s", "ability", "to", "meet", "the", "requirements", "of", "readiness", "reviews", ".", "Given", "the", "risks", "and", "uncertainties", "inherent", "in", "forward", "-", "looking", "statements", ",", "any", "of", "WellCare", "'s", "forward", "-", "looking", "statements", "could", "be", "incorrect", "and", "investors", "are", "cautioned", "not", "to", "place", "undue", "reliance", "on", "any", "of", "our", "forward", "-", "looking", "statements", ".", "Additional", "information", "concerning", "these", "and", "other", "important", "risks", "and", "uncertainties", "can", "be", "found", "in", "the", "company", "'s", "filings", "with", "the", "U", ".", "S", ".", "Securities", "and", "Exchange", "Commission", ",", "included", "under", "the", "captions", "\"", "Forward", "-", "Looking", "Statements", "\"", "and", "\"", "Risk", "Factors", "\"", "in", "the", "company", "'s", "Annual", "Report", "on", "Form", "10", "-", "K", "for", "the", "year", "ended", "December", "31", ",", "2017", ",", "and", "in", "the", "company", "'s", "Quarterly", "Report", "on", "Form", "10", "-", "Q", "for", "the", "quarter", "ended", "June", "30", ",", "2018", ",", "which", "contain", "discussions", "of", "WellCare", "'s", "business", "and", "the", "various", "factors", "that", "may", "affect", "it", ".", "Subsequent", "events", "and", "developments", "may", "cause", "actual", "results", "to", "differ", ",", "perhaps", "materially", ",", "from", "WellCare", "'s", "forward", "-", "looking", "statements", ".", "WellCare", "'s", "forward", "-", "looking", "statements", "speak", "only", "as", "of", "the", "date", "on", "which", "the", "statements", "are", "made", ".", "WellCare", "undertakes", "no", "duty", ",", "and", "expressly", "disclaims", "any", "obligation", ",", "to", "update", "these", "forward", "-", "looking", "statements", "to", "reflect", "any", "future", "events", ",", "developments", "or", "otherwise", ".", "CONTACTS", ":", "Investors", "Media", "Beau", "Garverick", "813", "-", "206", "-", "2329", "[email protected]", "Chris", "Curran", "813", "-", "206", "-", "5428", "[email protected]", "Matt", "Humphries", "813", "-", "206", "-", "6096", "[email protected]", "3" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1095651-000110465905009395-a05-4459_1ex99d1
EX-99.1 2 a05-4459_1ex99d1.htm EX-99.1 EXHIBIT 99.1 iStar Financial Inc. 1114 Avenue of the Americas New York, NY 10036 News Release (212) 930-9400 COMPANY CONTACTS NYSE: SFI Catherine D. Rice Andrew C. Richardson Andrew G. Backman Chief Financial Officer Executive Vice President - Capital Markets Vice President - Investor Relations iStar Financial Completes Falcon Financial Investment Trust Acquisition NEW YORK - March 3, 2005 - iStar Financial Inc. (NYSE: SFI), the leading publicly traded finance company focused on the commercial real estate industry, today announced the completion of its acquisition of Falcon Financial Investment Trust ("Falcon"). Falcon became a wholly-owned subsidiary of iStar Financial effective upon the filing of the Articles of Merger with the State Department of Assessments and Taxation of Maryland in accordance with Title 8 of the Corporations and Associations Article of the Annotated Code of Maryland and the Maryland Limited Liability Company Act, on March 3, 2005. As a result of the acquisition, Falcon shares will no longer be listed on the Nasdaq National Market. At the effective time of the acquisition, all common shares of beneficial interest of Falcon not tendered in the earlier tender offer were canceled and converted into the right to receive $7.50 net in cash, without interest (subject to applicable withholding taxes), subject to the rights shareholders by mail with information on how to receive payment for their Falcon shares not tendered in the tender offer. * * * iStar Financial is the leading publicly traded finance company focused on the commercial real estate industry. The Company provides custom-tailored financing to high-end private and corporate owners of real estate nationwide, including senior and junior mortgage debt, senior and mezzanine corporate capital, and corporate net lease financing. The Company, which is taxed as a real estate investment trust, seeks to deliver a strong dividend and superior risk-adjusted returns on equity to shareholders by providing the highest quality financing solutions to its customers. Additional information on iStar Financial is available on the Company's website at www.istarfinancial.com.
[ "EX", "-", "99", ".", "1", "2", "a05", "-", "4459", "_", "1ex99d1", ".", "htm", "EX", "-", "99", ".", "1", "EXHIBIT", "99", ".", "1", "iStar", "Financial", "Inc", ".", "1114", "Avenue", "of", "the", "Americas", "New", "York", ",", "NY", "10036", "News", "Release", "(", "212", ")", "930", "-", "9400", "COMPANY", "CONTACTS", "NYSE", ":", "SFI", "Catherine", "D.", "Rice", "Andrew", "C", ".", "Richardson", "Andrew", "G", ".", "Backman", "Chief", "Financial", "Officer", "Executive", "Vice", "President", "-", "Capital", "Markets", "Vice", "President", "-", "Investor", "Relations", "iStar", "Financial", "Completes", "Falcon", "Financial", "Investment", "Trust", "Acquisition", "NEW", "YORK", "-", "March", "3", ",", "2005", "-", "iStar", "Financial", "Inc", ".", "(", "NYSE", ":", "SFI", ")", ",", "the", "leading", "publicly", "traded", "finance", "company", "focused", "on", "the", "commercial", "real", "estate", "industry", ",", "today", "announced", "the", "completion", "of", "its", "acquisition", "of", "Falcon", "Financial", "Investment", "Trust", "(", "\"", "Falcon", "\"", ")", ".", "Falcon", "became", "a", "wholly", "-", "owned", "subsidiary", "of", "iStar", "Financial", "effective", "upon", "the", "filing", "of", "the", "Articles", "of", "Merger", "with", "the", "State", "Department", "of", "Assessments", "and", "Taxation", "of", "Maryland", "in", "accordance", "with", "Title", "8", "of", "the", "Corporations", "and", "Associations", "Article", "of", "the", "Annotated", "Code", "of", "Maryland", "and", "the", "Maryland", "Limited", "Liability", "Company", "Act", ",", "on", "March", "3", ",", "2005", ".", "As", "a", "result", "of", "the", "acquisition", ",", "Falcon", "shares", "will", "no", "longer", "be", "listed", "on", "the", "Nasdaq", "National", "Market", ".", "At", "the", "effective", "time", "of", "the", "acquisition", ",", "all", "common", "shares", "of", "beneficial", "interest", "of", "Falcon", "not", "tendered", "in", "the", "earlier", "tender", "offer", "were", "canceled", "and", "converted", "into", "the", "right", "to", "receive", "$", "7.50", "net", "in", "cash", ",", "without", "interest", "(", "subject", "to", "applicable", "withholding", "taxes", ")", ",", "subject", "to", "the", "rights", "shareholders", "by", "mail", "with", "information", "on", "how", "to", "receive", "payment", "for", "their", "Falcon", "shares", "not", "tendered", "in", "the", "tender", "offer", ".", "*", "*", "*", "iStar", "Financial", "is", "the", "leading", "publicly", "traded", "finance", "company", "focused", "on", "the", "commercial", "real", "estate", "industry", ".", "The", "Company", "provides", "custom", "-", "tailored", "financing", "to", "high", "-", "end", "private", "and", "corporate", "owners", "of", "real", "estate", "nationwide", ",", "including", "senior", "and", "junior", "mortgage", "debt", ",", "senior", "and", "mezzanine", "corporate", "capital", ",", "and", "corporate", "net", "lease", "financing", ".", "The", "Company", ",", "which", "is", "taxed", "as", "a", "real", "estate", "investment", "trust", ",", "seeks", "to", "deliver", "a", "strong", "dividend", "and", "superior", "risk", "-", "adjusted", "returns", "on", "equity", "to", "shareholders", "by", "providing", "the", "highest", "quality", "financing", "solutions", "to", "its", "customers", ".", "Additional", "information", "on", "iStar", "Financial", "is", "available", "on", "the", "Company", "'s", "website", "at", "www.istarfinancial.com", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1448776-000120445911000208-exhibit99-1
EX-99.1 3 exhibit99-1.htm EXHIBIT 99.1 China Green Energy Industries, Inc.: Exhibit 99.1 - Filed by newsfilecorp.com Exhibit 99.1 For Immediate Release Contact: Crescendo Communications, LLC David Waldman, Vivian Huo or Klea Theoharis Tel: (212) 671-1020 E-mail: cgre@crescendo - ir.com China Green Energy Industries Acquires NICONIA Brand of Light-Weight Electric Vehicles (LEV) and Sales Network of 350 Retail Stores LEV business unit projected to achieve sales in excess of $45 million with estimated gross margins of 25% in 2011 New York and Jiangsu, China - January 25, 2011 - China Green Energy Industries, Inc., (OTCBB: CGRE) a leading manufacturer and distributor of high tech and environmentally friendly consumer products today announced it has acquired the NICONIA LEV brand and retail sales network. The NICONIA brand is owned by Changzhou Benshen Bicycle Co., Ltd. ("Benshen", http://www.benshen.cn). Benshen is a leading manufacturer of light-weight electric vehicles with a sales network of approximately 350 retail stores in China. The total purchase price for the NICONIA brand and retail sales network was approximately $3.0 million. Mr. Jianliang Shi, Chairman and Chief Executive Officer commented, "We are very excited about the purchase of NICONIA, a quality brand in China with over 200,000 LEV sold annually, and projected sales of more than $45 million in 2011. We entered the LEV market in 2008 and have experienced strong demand in this product category. LEV sales in China have grown at a 29% compound annual growth rate from 2005 - 2009 and our acquisition of NICONIA is a key milestone in enabling us to accelerate growth in this segment. We expect to generate attractive gross margins from the NICONIA branded LEVs of approximately 25%, while at the same time leveraging our current production capacity to achieve economies of scale". Mr. Shi concluded, "This acquisition significantly alters our product mix, with revenue from LEV sales expected to comprise 54% of our overall revenue in 2011 versus 1% of our revenue in 2009. China is one of the largest consumers of LEVs in the world and we look forward to becoming a recognized leader in this highly fragmented industry". About China Green Energy Industries China Green Energy Industries is a leading manufacturer and distributor of high tech and environmentally-friendly consumer products. The company has three main product lines: light weight electric vehicles (LEV), cryogen-free refrigerators, and network/HDMI cables. It has well-established sales channels in China, with significant exports to Europe. China Green Energy Industries manufactures and distributes its own products under the brand name "Best", and also sells its product under private label to leading OEMs and Fortune 500 companies such as Wal-Mart, Carrefour, Home Depot, Ford, Pepsi, Coca-Cola, Carlsberg, Disney, etc. Additional information about the company is available at: www.chinagei.com . This press release may contain statements that constitute "forward looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. The words "may", "will", "expect", "anticipate", "continue", "estimate", "project", "intend", and similar expressions are intended to identify forward - looking statements. These statements appear in a number of places in this document and include statements regarding the intent, belief or expectation of the company, its directors or its officers with respect to events, conditions, and financial trends that may affect future plans of operations, business strategy, operating results, and financial position. Forward - looking statements are not guarantees of future performance and are subject to risks and uncertainties and that actual results may differ materially from those included within the forward - looking statements as a result of various factors. These risks and uncertainties include, but are not limited to, the factors mentioned in the "Risk Factors" section of the company's Current Report on Form 8 - K filed on June 11, 2010, and other risks mentioned in this press release or in our other reports filed with the Securities and Exchange Commission (the "SEC") since the filing date of the Registration Statement. Although these forward - looking statements, and any assumptions upon which they are based, are made in good faith and reflect the company's current judgment regarding the direction of the business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by law, the company undertakes no responsibility or obligation to update publicly these forward - looking statements, but may do so in the future in written or oral statements. # # #
[ "EX", "-", "99", ".", "1", "3", "exhibit99", "-", "1", ".", "htm", "EXHIBIT", "99", ".", "1", "China", "Green", "Energy", "Industries", ",", "Inc", ".", ":", "Exhibit", "99", ".", "1", "-", "Filed", "by", "newsfilecorp.com", "Exhibit", "99", ".", "1", "For", "Immediate", "Release", "Contact", ":", "Crescendo", "Communications", ",", "LLC", "David", "Waldman", ",", "Vivian", "Huo", "or", "Klea", "Theoharis", "Tel", ":", "(", "212", ")", "671", "-", "1020", "E", "-", "mail", ":", "cgre", "@", "crescendo", "-", "ir", ".", "com", "China", "Green", "Energy", "Industries", "Acquires", "NICONIA", "Brand", "of", "Light", "-", "Weight", "Electric", "Vehicles", "(", "LEV", ")", "and", "Sales", "Network", "of", "350", "Retail", "Stores", "LEV", "business", "unit", "projected", "to", "achieve", "sales", "in", "excess", "of", "$", "45 million", "with", "estimated", "gross", "margins", "of", "25", "%", "in", "2011", "New", "York", "and", "Jiangsu", ",", "China", "-", "January", "25", ",", "2011", "-", "China", "Green", "Energy", "Industries", ",", "Inc", ".", ",", "(", "OTCBB", ":", "CGRE", ")", "a", "leading", "manufacturer", "and", "distributor", "of", "high", "tech", "and", "environmentally", "friendly", "consumer", "products", "today", "announced", "it", "has", "acquired", "the", "NICONIA", "LEV", "brand", "and", "retail", "sales", "network", ".", "The", "NICONIA", "brand", "is", "owned", "by", "Changzhou", "Benshen", "Bicycle", "Co", ".", ",", "Ltd", ".", "(", "\"", "Benshen", "\"", ",", "http://www.benshen.cn", ")", ".", "Benshen", "is", "a", "leading", "manufacturer", "of", "light", "-", "weight", "electric", "vehicles", "with", "a", "sales", "network", "of", "approximately", "350", "retail", "stores", "in", "China", ".", "The", "total", "purchase", "price", "for", "the", "NICONIA", "brand", "and", "retail", "sales", "network", "was", "approximately", "$", "3.0 million", ".", "Mr", ".", "Jianliang", "Shi", ",", "Chairman", "and", "Chief", "Executive", "Officer", "commented", ",", "\"", "We", "are", "very", "excited", "about", "the", "purchase", "of", "NICONIA", ",", "a", "quality", "brand", "in", "China", "with", "over", "200,000", "LEV", "sold", "annually", ",", "and", "projected", "sales", "of", "more", "than", "$", "45 million", "in", "2011", ".", "We", "entered", "the", "LEV", "market", "in", "2008", "and", "have", "experienced", "strong", "demand", "in", "this", "product", "category", ".", "LEV", "sales", "in", "China", "have", "grown", "at", "a", "29", "%", "compound", "annual", "growth", "rate", "from", "2005", "-", "2009", "and", "our", "acquisition", "of", "NICONIA", "is", "a", "key", "milestone", "in", "enabling", "us", "to", "accelerate", "growth", "in", "this", "segment", ".", "We", "expect", "to", "generate", "attractive", "gross", "margins", "from", "the", "NICONIA", "branded", "LEVs", "of", "approximately", "25", "%", ",", "while", "at", "the", "same", "time", "leveraging", "our", "current", "production", "capacity", "to", "achieve", "economies", "of", "scale", "\"", ".", "Mr", ".", "Shi", "concluded", ",", "\"", "This", "acquisition", "significantly", "alters", "our", "product", "mix", ",", "with", "revenue", "from", "LEV", "sales", "expected", "to", "comprise", "54", "%", "of", "our", "overall", "revenue", "in", "2011", "versus", "1", "%", "of", "our", "revenue", "in", "2009", ".", "China", "is", "one", "of", "the", "largest", "consumers", "of", "LEVs", "in", "the", "world", "and", "we", "look", "forward", "to", "becoming", "a", "recognized", "leader", "in", "this", "highly", "fragmented", "industry", "\"", ".", "About", "China", "Green", "Energy", "Industries", "China", "Green", "Energy", "Industries", "is", "a", "leading", "manufacturer", "and", "distributor", "of", "high", "tech", "and", "environmentally", "-", "friendly", "consumer", "products", ".", "The", "company", "has", "three", "main", "product", "lines", ":", "light", "weight", "electric", "vehicles", "(", "LEV", ")", ",", "cryogen", "-", "free", "refrigerators", ",", "and", "network", "/", "HDMI", "cables", ".", "It", "has", "well", "-", "established", "sales", "channels", "in", "China", ",", "with", "significant", "exports", "to", "Europe", ".", "China", "Green", "Energy", "Industries", "manufactures", "and", "distributes", "its", "own", "products", "under", "the", "brand", "name", "\"", "Best", "\"", ",", "and", "also", "sells", "its", "product", "under", "private", "label", "to", "leading", "OEMs", "and", "Fortune", "500", "companies", "such", "as", "Wal", "-", "Mart", ",", "Carrefour", ",", "Home", "Depot", ",", "Ford", ",", "Pepsi", ",", "Coca", "-", "Cola", ",", "Carlsberg", ",", "Disney", ",", "etc", ".", "Additional", "information", "about", "the", "company", "is", "available", "at", ":", "www.chinagei.com", ".", "This", "press", "release", "may", "contain", "statements", "that", "constitute", "\"", "forward", "looking", "statements", "\"", "within", "the", "meaning", "of", "Section", "21E", "of", "the", "Securities", "Exchange", "Act", "of", "1934", ",", "as", "amended", ",", "and", "Section", "27A", "of", "the", "Securities", "Act", "of", "1933", ",", "as", "amended", ".", "The", "words", "\"", "may", "\"", ",", "\"", "will", "\"", ",", "\"", "expect", "\"", ",", "\"", "anticipate", "\"", ",", "\"", "continue", "\"", ",", "\"", "estimate", "\"", ",", "\"", "project", "\"", ",", "\"", "intend", "\"", ",", "and", "similar", "expressions", "are", "intended", "to", "identify", "forward", "-", "looking", "statements", ".", "These", "statements", "appear", "in", "a", "number", "of", "places", "in", "this", "document", "and", "include", "statements", "regarding", "the", "intent", ",", "belief", "or", "expectation", "of", "the", "company", ",", "its", "directors", "or", "its", "officers", "with", "respect", "to", "events", ",", "conditions", ",", "and", "financial", "trends", "that", "may", "affect", "future", "plans", "of", "operations", ",", "business", "strategy", ",", "operating", "results", ",", "and", "financial", "position", ".", "Forward", "-", "looking", "statements", "are", "not", "guarantees", "of", "future", "performance", "and", "are", "subject", "to", "risks", "and", "uncertainties", "and", "that", "actual", "results", "may", "differ", "materially", "from", "those", "included", "within", "the", "forward", "-", "looking", "statements", "as", "a", "result", "of", "various", "factors", ".", "These", "risks", "and", "uncertainties", "include", ",", "but", "are", "not", "limited", "to", ",", "the", "factors", "mentioned", "in", "the", "\"", "Risk", "Factors", "\"", "section", "of", "the", "company", "'s", "Current", "Report", "on", "Form", "8", "-", "K", "filed", "on", "June", "11", ",", "2010", ",", "and", "other", "risks", "mentioned", "in", "this", "press", "release", "or", "in", "our", "other", "reports", "filed", "with", "the", "Securities", "and", "Exchange", "Commission", "(", "the", "\"", "SEC", "\"", ")", "since", "the", "filing", "date", "of", "the", "Registration", "Statement", ".", "Although", "these", "forward", "-", "looking", "statements", ",", "and", "any", "assumptions", "upon", "which", "they", "are", "based", ",", "are", "made", "in", "good", "faith", "and", "reflect", "the", "company", "'s", "current", "judgment", "regarding", "the", "direction", "of", "the", "business", ",", "actual", "results", "will", "almost", "always", "vary", ",", "sometimes", "materially", ",", "from", "any", "estimates", ",", "predictions", ",", "projections", ",", "assumptions", "or", "other", "future", "performance", "suggested", "herein", ".", "Except", "as", "required", "by", "law", ",", "the", "company", "undertakes", "no", "responsibility", "or", "obligation", "to", "update", "publicly", "these", "forward", "-", "looking", "statements", ",", "but", "may", "do", "so", "in", "the", "future", "in", "written", "or", "oral", "statements", ".", "#", "#", "#" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1019439-000101943905000031-ex99-1pressreleasesept12005
EX-99.1 2 ex99-1pressreleasesept12005.txt EXHIBIT 99.1 PRESS RELEASE For Further Information: Exhibit 99.1 Big Dog Holdings, Inc. 121 Gray Avenue Santa Barbara, California 93101 www.bigdogs.com CONTACT: Andrew Feshbach (805) 963-8727 THE WALKING COMPANY COMPLETES FOOTWORKS ACQUISITION Santa Barbara, CA, September 1, 2005: Big Dog Holdings, Inc. (NASDAQ:BDOG; www.bigdogs.com, www.thewalkingcompany.com) today announced that its subsidiary The Walking Company ("TWC") has completed the acquisition of substantially all of the assets of Footworks, a division of the privately held shoe retailer Bianca of Nevada, Inc. The total purchase price was $10,094,750 which included the payment and issuance of cash and notes by TWC and the Company pursuant to the definitive agreement. The acquisition includes a chain of 7 retail stores selling comfort shoes and accessories. Footworks' operations have historically focused on high-visibility stores in Las Vegas, Nevada. TWC is the leading specialty retailer of high-quality, technically designed comfort shoes and accessories. TWC intends to convert the majority of the acquired stores into "The Walking Company" stores. Big Dog Holdings, Inc. consists of Big Dogs and The Walking Company. Big Dogs develops, markets and retails a branded, lifestyle collection of unique, high-quality, popular-priced consumer products, including activewear, casual sportswear, accessories and gifts. The BIG DOGS(R) brand image is one of quality, value and fun. The BIG DOGS(R) brand is designed to appeal to people of all ages and demographics, particularly baby boomers and their kids, big and tall customers, and pet owners. In addition to its approximately 181 retail stores, Big Dogs markets its products through its catalog, internet and corporate sales accounts. The Walking Company is a leading independent specialty retailer of high quality, technically designed comfort shoes and accessories that features premium brands such as ECCO, Mephisto, Dansko, Birkenstock and Merrell among many others. These products have particular appeal to one of the largest and most rapidly growing demographics in the nation. The Walking Company operates 77 stores in premium malls across the nation. Statements contained herein that relate to the Company's future performance, including the satisfaction of contingencies and closing of the acquisition, are forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based on current expectations only, and are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Other factors affecting the Company's operations, markets, products, services and prices as are set forth in its 2004 Annual Report on Form 10-K, including those described under "Forward-Looking Statements and Risk Factors." The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
[ "EX", "-", "99", ".", "1", "2", "ex99", "-", "1pressreleasesept12005", ".", "txt", "EXHIBIT", "99", ".", "1", "PRESS", "RELEASE", "For", "Further", "Information", ":", "Exhibit", "99", ".", "1", "Big", "Dog", "Holdings", ",", "Inc", ".", "121", "Gray", "Avenue", "Santa", "Barbara", ",", "California", "93101", "www.bigdogs.com", "CONTACT", ":", "Andrew", "Feshbach", "(", "805", ")", "963", "-", "8727", "THE", "WALKING", "COMPANY", "COMPLETES", "FOOTWORKS", "ACQUISITION", "Santa", "Barbara", ",", "CA", ",", "September", "1", ",", "2005", ":", "Big", "Dog", "Holdings", ",", "Inc", ".", "(", "NASDAQ", ":", "BDOG", ";", "www.bigdogs.com", ",", "www.thewalkingcompany.com", ")", "today", "announced", "that", "its", "subsidiary", "The", "Walking", "Company", "(", "\"", "TWC", "\"", ")", "has", "completed", "the", "acquisition", "of", "substantially", "all", "of", "the", "assets", "of", "Footworks", ",", "a", "division", "of", "the", "privately", "held", "shoe", "retailer", "Bianca", "of", "Nevada", ",", "Inc", ".", "The", "total", "purchase", "price", "was", "$", "10,094,750", "which", "included", "the", "payment", "and", "issuance", "of", "cash", "and", "notes", "by", "TWC", "and", "the", "Company", "pursuant", "to", "the", "definitive", "agreement", ".", "The", "acquisition", "includes", "a", "chain", "of", "7", "retail", "stores", "selling", "comfort", "shoes", "and", "accessories", ".", "Footworks", "'", "operations", "have", "historically", "focused", "on", "high", "-", "visibility", "stores", "in", "Las", "Vegas", ",", "Nevada", ".", "TWC", "is", "the", "leading", "specialty", "retailer", "of", "high", "-", "quality", ",", "technically", "designed", "comfort", "shoes", "and", "accessories", ".", "TWC", "intends", "to", "convert", "the", "majority", "of", "the", "acquired", "stores", "into", "\"", "The", "Walking", "Company", "\"", "stores", ".", "Big", "Dog", "Holdings", ",", "Inc", ".", "consists", "of", "Big", "Dogs", "and", "The", "Walking", "Company", ".", "Big", "Dogs", "develops", ",", "markets", "and", "retails", "a", "branded", ",", "lifestyle", "collection", "of", "unique", ",", "high", "-", "quality", ",", "popular", "-", "priced", "consumer", "products", ",", "including", "activewear", ",", "casual", "sportswear", ",", "accessories", "and", "gifts", ".", "The", "BIG", "DOGS", "(", "R", ")", "brand", "image", "is", "one", "of", "quality", ",", "value", "and", "fun", ".", "The", "BIG", "DOGS", "(", "R", ")", "brand", "is", "designed", "to", "appeal", "to", "people", "of", "all", "ages", "and", "demographics", ",", "particularly", "baby", "boomers", "and", "their", "kids", ",", "big", "and", "tall", "customers", ",", "and", "pet", "owners", ".", "In", "addition", "to", "its", "approximately", "181", "retail", "stores", ",", "Big", "Dogs", "markets", "its", "products", "through", "its", "catalog", ",", "internet", "and", "corporate", "sales", "accounts", ".", "The", "Walking", "Company", "is", "a", "leading", "independent", "specialty", "retailer", "of", "high", "quality", ",", "technically", "designed", "comfort", "shoes", "and", "accessories", "that", "features", "premium", "brands", "such", "as", "ECCO", ",", "Mephisto", ",", "Dansko", ",", "Birkenstock", "and", "Merrell", "among", "many", "others", ".", "These", "products", "have", "particular", "appeal", "to", "one", "of", "the", "largest", "and", "most", "rapidly", "growing", "demographics", "in", "the", "nation", ".", "The", "Walking", "Company", "operates", "77", "stores", "in", "premium", "malls", "across", "the", "nation", ".", "Statements", "contained", "herein", "that", "relate", "to", "the", "Company", "'s", "future", "performance", ",", "including", "the", "satisfaction", "of", "contingencies", "and", "closing", "of", "the", "acquisition", ",", "are", "forward", "-", "looking", "statements", "within", "the", "safe", "harbor", "provisions", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "Such", "statements", "are", "based", "on", "current", "expectations", "only", ",", "and", "are", "subject", "to", "certain", "risks", ",", "uncertainties", "and", "assumptions", ".", "Should", "one", "or", "more", "of", "these", "risks", "or", "uncertainties", "materialize", ",", "or", "should", "underlying", "assumptions", "prove", "incorrect", ",", "actual", "results", "may", "vary", "materially", "from", "those", "anticipated", ",", "estimated", "or", "projected", ".", "Other", "factors", "affecting", "the", "Company", "'s", "operations", ",", "markets", ",", "products", ",", "services", "and", "prices", "as", "are", "set", "forth", "in", "its", "2004", "Annual", "Report", "on", "Form", "10", "-", "K", ",", "including", "those", "described", "under", "\"", "Forward", "-", "Looking", "Statements", "and", "Risk", "Factors", ".", "\"", "The", "Company", "undertakes", "no", "obligation", "to", "publicly", "update", "or", "revise", "any", "forward", "-", "looking", "statements", ",", "whether", "as", "a", "result", "of", "new", "information", ",", "future", "events", "or", "otherwise", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1386926-000110465914034645-a14-11870_1ex99d1
EX-99.1 2 a14-11870_1ex99d1.htm EX-99.1 Exhibit 99.1 April 30, 2014 KKR & Co. L.P. Completes Acquisition of KKR Financial Holdings LLC NEW YORK & SAN FRANCISCO-(BUSINESS WIRE)- KKR & Co. L.P. (NYSE:KKR) and KKR Financial Holdings LLC (NYSE:KFN) today announced the completion of KKR's acquisition of KFN. Common shareholders of KFN, at a special meeting held earlier today, voted to adopt the merger agreement entered into on December 16, 2013, pursuant to which common shareholders of KFN will receive 0.51 common units of KKR for each common share of KFN. The votes in favor of the merger constituted a majority of outstanding KFN common shares as of the record date of February 26, 2014, including a majority of outstanding KFN common shares held by record holders other than KKR and its affiliates. Approximately 98% of the KFN common shares represented at the special meeting voted in favor of approving the merger. "Our balance sheet is one of our most strategic assets. Through the KFN acquisition, our book value increases to over $10 billion as of March 31, 2014, and our firm is better positioned than ever", said Henry R. Kravis and George R. Roberts, Co-Chairmen and Co-Chief Executive Officers of KKR. "In addition to adding scale and diversification, KFN's assets bring us greater balance sheet liquidity and yield, which will benefit our unitholders through both an increase in recurring distributions and more capital for growth". KFN is a subsidiary of KKR following the completion of the merger. KFN's perpetual preferred shares and senior notes, which are listed on the NYSE, as well as its junior subordinated notes, remain outstanding securities of KFN. About KKR KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners' capital and brings opportunities to others through its capital markets business. References to KKR's investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE: KKR), please visit KKR's website at www.kkr.com. About KKR Financial Holdings LLC KKR Financial Holdings LLC is a specialty finance company with expertise in a range of asset classes. KFN's core business strategy is to leverage the proprietary resources of its manager with the objective of generating both current income and capital appreciation. KFN executes its core business strategy through its majority owned subsidiaries. KFN is externally managed by KKR Financial Advisors LLC, a wholly-owned subsidiary of KKR Asset Management LLC, which is a wholly-owned subsidiary of Kohlberg Kravis Roberts & Co. L.P. Additional information regarding KFN is available at http://www.kkr.com. KKR Investor Relations Craig Larson +1 (877) 610-4910 (U.S.) / +1 (212) 230-9410 [email protected] or Media Contact Kristi Huller, +1 (212) 230-9722 [email protected] Source: KKR & Co. L.P.
[ "EX", "-", "99", ".", "1", "2", "a14", "-", "11870", "_", "1ex99d1", ".", "htm", "EX", "-", "99", ".", "1", "Exhibit", "99", ".", "1", "April", "30", ",", "2014", "KKR", "&", "Co", ".", "L", ".", "P", ".", "Completes", "Acquisition", "of", "KKR", "Financial", "Holdings", "LLC", "NEW", "YORK", "&", "SAN", "FRANCISCO", "-", "(", "BUSINESS", "WIRE", ")", "-", "KKR", "&", "Co", ".", "L", ".", "P", ".", "(", "NYSE", ":", "KKR", ")", "and", "KKR", "Financial", "Holdings", "LLC", "(", "NYSE", ":", "KFN", ")", "today", "announced", "the", "completion", "of", "KKR", "'s", "acquisition", "of", "KFN", ".", "Common", "shareholders", "of", "KFN", ",", "at", "a", "special", "meeting", "held", "earlier", "today", ",", "voted", "to", "adopt", "the", "merger", "agreement", "entered", "into", "on", "December", "16", ",", "2013", ",", "pursuant", "to", "which", "common", "shareholders", "of", "KFN", "will", "receive", "0", ".", "51", "common", "units", "of", "KKR", "for", "each", "common", "share", "of", "KFN", ".", "The", "votes", "in", "favor", "of", "the", "merger", "constituted", "a", "majority", "of", "outstanding", "KFN", "common", "shares", "as", "of", "the", "record", "date", "of", "February", "26", ",", "2014", ",", "including", "a", "majority", "of", "outstanding", "KFN", "common", "shares", "held", "by", "record", "holders", "other", "than", "KKR", "and", "its", "affiliates", ".", "Approximately", "98", "%", "of", "the", "KFN", "common", "shares", "represented", "at", "the", "special", "meeting", "voted", "in", "favor", "of", "approving", "the", "merger", ".", "\"", "Our", "balance", "sheet", "is", "one", "of", "our", "most", "strategic", "assets", ".", "Through", "the", "KFN", "acquisition", ",", "our", "book", "value", "increases", "to", "over", "$", "10 billion", "as", "of", "March", "31", ",", "2014", ",", "and", "our", "firm", "is", "better", "positioned", "than", "ever", "\"", ",", "said", "Henry", "R", ".", "Kravis", "and", "George", "R.", "Roberts", ",", "Co", "-", "Chairmen", "and", "Co", "-", "Chief", "Executive", "Officers", "of", "KKR", ".", "\"", "In", "addition", "to", "adding", "scale", "and", "diversification", ",", "KFN", "'s", "assets", "bring", "us", "greater", "balance", "sheet", "liquidity", "and", "yield", ",", "which", "will", "benefit", "our", "unitholders", "through", "both", "an", "increase", "in", "recurring", "distributions", "and", "more", "capital", "for", "growth", "\"", ".", "KFN", "is", "a", "subsidiary", "of", "KKR", "following", "the", "completion", "of", "the", "merger", ".", "KFN", "'", "s", "perpetual", "preferred", "shares", "and", "senior", "notes", ",", "which", "are", "listed", "on", "the", "NYSE", ",", "as", "well", "as", "its", "junior", "subordinated", "notes", ",", "remain", "outstanding", "securities", "of", "KFN", ".", "About", "KKR", "KKR", "is", "a", "leading", "global", "investment", "firm", "that", "manages", "investments", "across", "multiple", "asset", "classes", "including", "private", "equity", ",", "energy", ",", "infrastructure", ",", "real", "estate", ",", "credit", "and", "hedge", "funds", ".", "KKR", "aims", "to", "generate", "attractive", "investment", "returns", "by", "following", "a", "patient", "and", "disciplined", "investment", "approach", ",", "employing", "world", "-", "class", "people", ",", "and", "driving", "growth", "and", "value", "creation", "at", "the", "asset", "level", ".", "KKR", "invests", "its", "own", "capital", "alongside", "its", "partners", "'", "capital", "and", "brings", "opportunities", "to", "others", "through", "its", "capital", "markets", "business", ".", "References", "to", "KKR", "'s", "investments", "may", "include", "the", "activities", "of", "its", "sponsored", "funds", ".", "For", "additional", "information", "about", "KKR", "&", "Co", ".", "L", ".", "P", ".", "(", "NYSE", ":", "KKR", ")", ",", "please", "visit", "KKR", "'s", "website", "at", "www.kkr.com", ".", "About", "KKR", "Financial", "Holdings", "LLC", "KKR", "Financial", "Holdings", "LLC", "is", "a", "specialty", "finance", "company", "with", "expertise", "in", "a", "range", "of", "asset", "classes", ".", "KFN", "'s", "core", "business", "strategy", "is", "to", "leverage", "the", "proprietary", "resources", "of", "its", "manager", "with", "the", "objective", "of", "generating", "both", "current", "income", "and", "capital", "appreciation", ".", "KFN", "executes", "its", "core", "business", "strategy", "through", "its", "majority", "owned", "subsidiaries", ".", "KFN", "is", "externally", "managed", "by", "KKR", "Financial", "Advisors", "LLC", ",", "a", "wholly", "-", "owned", "subsidiary", "of", "KKR", "Asset", "Management", "LLC", ",", "which", "is", "a", "wholly", "-", "owned", "subsidiary", "of", "Kohlberg", "Kravis", "Roberts", "&", "Co", ".", "L", ".", "P", ".", "Additional", "information", "regarding", "KFN", "is", "available", "at", "http://www.kkr.com", ".", "KKR", "Investor", "Relations", "Craig", "Larson", "+", "1", "(", "877", ")", "610", "-", "4910", "(", "U", ".", "S", ".", ")", "/", "+", "1", "(", "212", ")", "230", "-", "9410", "[email protected]", "or", "Media", "Contact", "Kristi", "Huller", ",", "+", "1", "(", "212", ")", "230", "-", "9722", "[email protected]", "Source", ":", "KKR", "&", "Co", ".", "L", ".", "P", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1020646-000101968711000569-erf_8k-ex9901
EX-99.1 3 erf_8k-ex9901.htm PRESS RELEASE erf_8k-ex9901.htm Exhibit 99.1 ERF Wireless to Receive $3 Million Cash in Non-Core Asset Sale Proceeds to Be Utilized in Accelerating Growth of Oil and Gas Revenue Stream LEAGUE CITY, TX--(Marketwire - 02/11/11) - ERF Wireless (OTC.BB:ERFW - News), a leading provider of enterprise-class wireless broadband products and services, announced today that it has entered into a Definitive Asset Purchase Agreement with KeyOn Communications Holdings Inc. (OTC.BB:KEYO - News) to sell two of its non-core WISP/wireless networks for a total consideration of $3 million in cash and 100,000 shares of KeyOn common stock. Additional details of the agreement were not announced. The two ERF Wireless networks being sold are the Central Texas network west of Austin and the smaller North Texas network in Granbury. The sale is expected to close within the next ten days. Dr. H. Dean Cubley commented, "This sale of a limited portion of our non-core and non-oil and gas related networks provides ERF Wireless the opportunity to convert our investment in these assets and operations into cash at a time when we have tremendous potential for additional high-margin oil and gas revenue being presented to us on an almost daily basis. I believe that having the cash liquidity to quickly take advantage of these new opportunities is of the highest priority to ERF Wireless and its stockholders at this point in time. Any recurring WISP revenue that we forego with this sale will quickly be recovered by adding new oil and gas revenue in our Energy Broadband subsidiary at many times the operating margins". John Nagel, CEO of Energy Broadband, commented, "Energy Broadband began a new direct marketing program promoting our wireless broadband services to the oil and gas industry last year in an effort to accelerate the growth of our customer base. That program has been successful and has attracted many new customers and created additional service opportunities. With the additional capital, we'll have the ability to take advantage of many of these opportunities and quickly expand our leadership in the delivery of terrestrial wireless broadband to the North American oil and gas industry. "For more information regarding Energy Broadband's full range of communication products and capabilities for the oil and gas industry as well as our current and projected areas of coverage, including the Eagle Ford Shale, potential customers should contact our sales staff at 888-770-7052. A new coverage map showing both existing and planned Energy Broadband wireless coverage in Texas, New Mexico, Oklahoma, Louisiana, Arkansas, Wyoming and Colorado may be accessed at http://www.erfwireless.com/oil_gas_map_big.html . About ERF Wireless ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of Energy Broadband Inc., ERF Enterprise Network Services, ERF Bundled Wireless Services, ERF Wireless Messaging Services and ERF Network Services. The company specializes in providing wireless and broadband product and service solutions to enterprise, commercial and residential clients on a regional, national and international basis. Its principals have been in the wireless broadband, network integration, triple-play FTTH, IPTV and content delivery business for more than 40 years. For more information, please visit our websites at www.erfwireless.com and www.erfwireless.net or call 281-538-2101. (ERFWG) About KeyOn Communications Holdings Inc. KeyOn Communications Holdings Inc. (OTC.BB:KEYO - News) is one of the largest providers of wireless broadband, satellite and voice over Internet protocol (VoIP) services in the United States, primarily targeting underserved markets with populations generally less than 50,000. KeyOn offers broadband services with VoIP and satellite video services to both residential and business subscribers across 12 Western and Midwestern states. Through a combination of organic growth and acquisitions, KeyOn has expanded its network footprint to reach approximately 55,000 square miles and cover over 2,800,000 people, as well as small-to-medium businesses. With its successful track record of acquiring companies through its Rural UniFi initiative and growth of its overall subscriber base, KeyOn is one of the leading wireless broadband companies in the United States. Management intends to drive subscriber growth through additional acquisitions as well as organic growth across the company's expanding footprint by offering bundled services including broadband, video, VoIP and related valuable services such as the Bullseye Club. The company also intends to opportunistically build mobile and/or nomadic WiMAX networks in and around its market footprint. More information on K KeyOn can be found at http://www.keyon.com. Companies interested in participating in Rural UniFi can visit www.keyon.com/ruralunifi.html . Forward-looking statements in this release regarding ERF Wireless Inc. and its wholly owned subsidiary Energy Broadband Inc. are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products, increased levels of competition, new products and technological changes, the company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission. Contact: ERF Wireless Inc. Clareen O'Quinn 281-538-2101 ext. 113 [email protected]
[ "EX", "-", "99", ".", "1", "3", "erf", "_", "8k", "-", "ex9901", ".", "htm", "PRESS", "RELEASE", "erf", "_", "8k", "-", "ex9901", ".", "htm", "Exhibit", "99", ".", "1", "ERF", "Wireless", "to", "Receive", "$", "3 Million", "Cash", "in", "Non", "-", "Core", "Asset", "Sale", "Proceeds", "to", "Be", "Utilized", "in", "Accelerating", "Growth", "of", "Oil", "and", "Gas", "Revenue", "Stream", "LEAGUE", "CITY", ",", "TX", "--", "(", "Marketwire", "-", "02", "/", "11", "/", "11", ")", "-", "ERF", "Wireless", "(", "OTC", ".", "BB", ":", "ERFW", "-", "News", ")", ",", "a", "leading", "provider", "of", "enterprise", "-", "class", "wireless", "broadband", "products", "and", "services", ",", "announced", "today", "that", "it", "has", "entered", "into", "a", "Definitive", "Asset", "Purchase", "Agreement", "with", "KeyOn", "Communications", "Holdings", "Inc", ".", "(", "OTC", ".", "BB", ":", "KEYO", "-", "News", ")", "to", "sell", "two", "of", "its", "non", "-", "core", "WISP", "/", "wireless", "networks", "for", "a", "total", "consideration", "of", "$", "3 million", "in", "cash", "and", "100,000", "shares", "of", "KeyOn", "common", "stock", ".", "Additional", "details", "of", "the", "agreement", "were", "not", "announced", ".", "The", "two", "ERF", "Wireless", "networks", "being", "sold", "are", "the", "Central", "Texas", "network", "west", "of", "Austin", "and", "the", "smaller", "North", "Texas", "network", "in", "Granbury", ".", "The", "sale", "is", "expected", "to", "close", "within", "the", "next", "ten", "days", ".", "Dr", ".", "H", ".", "Dean", "Cubley", "commented", ",", "\"", "This", "sale", "of", "a", "limited", "portion", "of", "our", "non", "-", "core", "and", "non", "-", "oil", "and", "gas", "related", "networks", "provides", "ERF", "Wireless", "the", "opportunity", "to", "convert", "our", "investment", "in", "these", "assets", "and", "operations", "into", "cash", "at", "a", "time", "when", "we", "have", "tremendous", "potential", "for", "additional", "high", "-", "margin", "oil", "and", "gas", "revenue", "being", "presented", "to", "us", "on", "an", "almost", "daily", "basis", ".", "I", "believe", "that", "having", "the", "cash", "liquidity", "to", "quickly", "take", "advantage", "of", "these", "new", "opportunities", "is", "of", "the", "highest", "priority", "to", "ERF", "Wireless", "and", "its", "stockholders", "at", "this", "point", "in", "time", ".", "Any", "recurring", "WISP", "revenue", "that", "we", "forego", "with", "this", "sale", "will", "quickly", "be", "recovered", "by", "adding", "new", "oil", "and", "gas", "revenue", "in", "our", "Energy", "Broadband", "subsidiary", "at", "many", "times", "the", "operating", "margins", "\"", ".", "John", "Nagel", ",", "CEO", "of", "Energy", "Broadband", ",", "commented", ",", "\"", "Energy", "Broadband", "began", "a", "new", "direct", "marketing", "program", "promoting", "our", "wireless", "broadband", "services", "to", "the", "oil", "and", "gas", "industry", "last", "year", "in", "an", "effort", "to", "accelerate", "the", "growth", "of", "our", "customer", "base", ".", "That", "program", "has", "been", "successful", "and", "has", "attracted", "many", "new", "customers", "and", "created", "additional", "service", "opportunities", ".", "With", "the", "additional", "capital", ",", "we", "'", "ll", "have", "the", "ability", "to", "take", "advantage", "of", "many", "of", "these", "opportunities", "and", "quickly", "expand", "our", "leadership", "in", "the", "delivery", "of", "terrestrial", "wireless", "broadband", "to", "the", "North", "American", "oil", "and", "gas", "industry", ".", "\"", "For", "more", "information", "regarding", "Energy", "Broadband", "'s", "full", "range", "of", "communication", "products", "and", "capabilities", "for", "the", "oil", "and", "gas", "industry", "as", "well", "as", "our", "current", "and", "projected", "areas", "of", "coverage", ",", "including", "the", "Eagle", "Ford", "Shale", ",", "potential", "customers", "should", "contact", "our", "sales", "staff", "at", "888", "-", "770", "-", "7052", ".", "A", "new", "coverage", "map", "showing", "both", "existing", "and", "planned", "Energy", "Broadband", "wireless", "coverage", "in", "Texas", ",", "New", "Mexico", ",", "Oklahoma", ",", "Louisiana", ",", "Arkansas", ",", "Wyoming", "and", "Colorado", "may", "be", "accessed", "at", "http://www.erfwireless.com/oil_gas_map_big.html", ".", "About", "ERF", "Wireless", "ERF", "Wireless", "Inc", ".", "is", "a", "fully", "reporting", "public", "corporation", "located", "in", "League", "City", ",", "Texas", ",", "and", "is", "the", "parent", "company", "of", "Energy", "Broadband", "Inc", ".", ",", "ERF", "Enterprise", "Network", "Services", ",", "ERF", "Bundled", "Wireless", "Services", ",", "ERF", "Wireless", "Messaging", "Services", "and", "ERF", "Network", "Services", ".", "The", "company", "specializes", "in", "providing", "wireless", "and", "broadband", "product", "and", "service", "solutions", "to", "enterprise", ",", "commercial", "and", "residential", "clients", "on", "a", "regional", ",", "national", "and", "international", "basis", ".", "Its", "principals", "have", "been", "in", "the", "wireless", "broadband", ",", "network", "integration", ",", "triple", "-", "play", "FTTH", ",", "IPTV", "and", "content", "delivery", "business", "for", "more", "than", "40", "years", ".", "For", "more", "information", ",", "please", "visit", "our", "websites", "at", "www.erfwireless.com", "and", "www.erfwireless.net", "or", "call", "281", "-", "538", "-", "2101", ".", "(", "ERFWG", ")", "About", "KeyOn", "Communications", "Holdings", "Inc", ".", "KeyOn", "Communications", "Holdings", "Inc", ".", "(", "OTC", ".", "BB", ":", "KEYO", "-", "News", ")", "is", "one", "of", "the", "largest", "providers", "of", "wireless", "broadband", ",", "satellite", "and", "voice", "over", "Internet", "protocol", "(", "VoIP", ")", "services", "in", "the", "United", "States", ",", "primarily", "targeting", "underserved", "markets", "with", "populations", "generally", "less", "than", "50,000", ".", "KeyOn", "offers", "broadband", "services", "with", "VoIP", "and", "satellite", "video", "services", "to", "both", "residential", "and", "business", "subscribers", "across", "12", "Western", "and", "Midwestern", "states", ".", "Through", "a", "combination", "of", "organic", "growth", "and", "acquisitions", ",", "KeyOn", "has", "expanded", "its", "network", "footprint", "to", "reach", "approximately", "55,000", "square miles", "and", "cover", "over", "2,800,000", "people", ",", "as", "well", "as", "small", "-", "to", "-", "medium", "businesses", ".", "With", "its", "successful", "track", "record", "of", "acquiring", "companies", "through", "its", "Rural", "UniFi", "initiative", "and", "growth", "of", "its", "overall", "subscriber", "base", ",", "KeyOn", "is", "one", "of", "the", "leading", "wireless", "broadband", "companies", "in", "the", "United", "States", ".", "Management", "intends", "to", "drive", "subscriber", "growth", "through", "additional", "acquisitions", "as", "well", "as", "organic", "growth", "across", "the", "company", "'s", "expanding", "footprint", "by", "offering", "bundled", "services", "including", "broadband", ",", "video", ",", "VoIP", "and", "related", "valuable", "services", "such", "as", "the", "Bullseye", "Club", ".", "The", "company", "also", "intends", "to", "opportunistically", "build", "mobile", "and", "/", "or", "nomadic", "WiMAX", "networks", "in", "and", "around", "its", "market", "footprint", ".", "More", "information", "on", "K", "KeyOn", "can", "be", "found", "at", "http://www.keyon.com", ".", "Companies", "interested", "in", "participating", "in", "Rural", "UniFi", "can", "visit", "www.keyon.com/ruralunifi.html", ".", "Forward", "-", "looking", "statements", "in", "this", "release", "regarding", "ERF", "Wireless", "Inc", ".", "and", "its", "wholly", "owned", "subsidiary", "Energy", "Broadband", "Inc", ".", "are", "made", "pursuant", "to", "the", "\"", "safe", "harbor", "\"", "provisions", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "Investors", "are", "cautioned", "that", "such", "forward", "-", "looking", "statements", "involve", "risks", "and", "uncertainties", ",", "including", ",", "without", "limitation", ",", "continued", "acceptance", "of", "the", "company", "'s", "products", ",", "increased", "levels", "of", "competition", ",", "new", "products", "and", "technological", "changes", ",", "the", "company", "'s", "dependence", "upon", "third", "-", "party", "suppliers", ",", "intellectual", "property", "rights", ",", "and", "other", "risks", "detailed", "from", "time", "to", "time", "in", "the", "company", "'s", "periodic", "reports", "filed", "with", "the", "Securities", "and", "Exchange", "Commission", ".", "Contact", ":", "ERF", "Wireless", "Inc", ".", "Clareen", "O", "'", "Quinn", "281", "-", "538", "-", "2101", "ext", ".", "113", "[email protected]" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
941604-000119312516721745-d267879dex992
EX-99.2 5 d267879dex992.htm EX-99.2 EX-99.2 Exhibit 99.2 Outerwall Inc. Announces Completion of Acquisition by Certain Funds Managed by Affiliates of Apollo Global Management, LLC BELLEVUE, Wash.- September 27, 2016 - Outerwall Inc. ("Outerwall" or the "Company") (Nasdaq: OUTR) today announced the successful completion of its agreement to be acquired by affiliates of certain funds (the "Apollo Funds") managed by affiliates of Apollo Global Management, LLC (together with its consolidated subsidiaries, "Apollo") (NYSE: APO) for $52.00 per share in cash. Apollo and Outerwall also announced that the Company's segments will be managed and operated as three distinct businesses and named leadership for each of those units. Galen C. Smith was named Chief Executive Officer of Redbox, and James H. Gaherity and David D. Maquera were promoted from serving as Presidents to Chief Executive Officers of the Coinstar and ecoATM businesses, respectively. In connection with the closing of the transaction, Erik E. Prusch, Chief Executive Officer of Outerwall, will be leaving the Company. "I am extremely excited to lead the Redbox team and work with Apollo as we continue to provide new movie and video game releases to millions of loyal consumers at a great value", Mr. Smith said. "We believe there are many attractive opportunities for us to build on Redbox's unrivaled brand while enhancing our already strong relationships with Redbox's studio and retail partners". Mr. Gaherity said, "The Coinstar business is the leading multi-national, fully automated network of self-service coin-counting kiosks, processing more than $3 billion of coins annually and serving millions of consumers every year. We look forward to working with Apollo to grow our business and build upon our rich, 25-year history". "With a network of over 2,400 kiosks and an online solution through Gazelle.com, ecoATM provides the best solution for customers to turn their used mobile phones into cash", said Mr. Maquera. "We have delivered significant financial and operational progress this year and I look forward to teaming with Apollo and our outstanding employees as we take the ecoATM business to the next level". "We are pleased that the transaction has closed and we look forward to working with the respective business leaders and their talented and dedicated colleagues to provide unsurpassed customer experiences and value to our retail partners", said David Sambur, partner at Apollo. "In addition, I would like to thank Erik for his service and leadership and we wish him the best in his future endeavors". About the Transaction The transaction was effected through a previously announced cash tender offer for all of the outstanding shares of common stock of Outerwall followed by a merger. The cash tender offer, which was made at $52.00 per share pursuant to the Agreement and Plan of Merger (the "Merger Agreement") entered into by affiliates of the Apollo Funds, Outerwall, and Redbox Automated Retail, LLC, a wholly owned subsidiary of Outerwall ("Redbox"), on July 24, 2016, expired at 12:00 midnight, New York City time, on September 22, 2016 (one minute after 11:59 p.m., New York City time, on September 22, 2016). On September 23, 2016, shares of common stock of Outerwall (other than shares tendered by guaranteed delivery where actual delivery had not occurred) that were validly tendered and not withdrawn, which constituted approximately 69.3% of the then outstanding shares of Outerwall, were accepted for payment. Outerwall shares validly tendered by guaranteed delivery were accepted for payment upon receipt. On September 27, 2016, in accordance with the Merger Agreement, the acquisition was completed by (i) merging Outerwall with an affiliate of the Apollo Funds pursuant to Section 251(h) of the General Corporation Law of the State of Delaware and (ii) immediately thereafter, merging Redbox with an affiliate of the Apollo Funds pursuant to the General Corporation Law of the State of Delaware and the Delaware Limited Liability Company Act. In connection with the merger, all shares not validly tendered in the tender offer (subject to certain exceptions, including shares for which appraisal rights were validly demanded and not subsequently withdrawn or lost) were cancelled and converted into the right to receive $52.00 cash per share. As a result of the transaction, which was valued at approximately $1.6 billion, including net debt, effective today Outerwall became a privately-held company and Outerwall's common stock ceased trading on the Nasdaq Global Select Market and will be delisted. Advisors Morgan Stanley & Co. LLC served as financial advisor to Outerwall and Perkins Coie LLP and Wachtell, Lipton, Rosen & Katz served as legal counsel. LionTree Advisors, Bank of America Merrill Lynch, Barclays, Credit Suisse and Jefferies LLC served as M&A advisors to Apollo and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to Apollo. About Redbox Redbox provides new-release DVD, Blu-ray Disc® and video-game rentals through a national network of almost 40,000 self-service kiosks. For more information, visit www.redbox.com . About Coinstar Coinstar offers self-service coin-counting at almost 20,000 kiosks where consumers can convert their coins to cash or stored value products. For more information, visit www.coinstar.com . About ecoATM ecoATM consists of self-service kiosks and an online solution where consumers can sell electronic devices for cash and generates revenue through the sale of devices collected to third party resellers, through online marketplaces and through the Gazelle direct-to-consumer storefront. For more information, visit www.ecoATM.com . About Apollo Global Management Apollo (NYSE: APO) is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Chicago, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Singapore, Mumbai, Delhi, Shanghai and Hong Kong. Apollo had assets under management of approximately $186 billion as of June 30, 2016, in private equity, credit and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit www.agm.com . Forward-Looking Statements Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words indicating future events, performance, results and actions, such as "will" and "expect", and variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. The forward-looking statements in this press release include, among others, statements regarding the Company's businesses following its acquisition by affiliates of the Apollo Funds. Forward-looking statements are not guarantees of future actions, events or performance, which may vary materially from those expressed or implied in such statements. Differences may result from, among other things, actions taken by the Company or Apollo, or other third parties, including those beyond the Company's control. Such risks and uncertainties include, but are not limited to, results and timing of strategic and financial activities, continuation of or changes in strategic and financial objectives, and the ability to attract new or maintain retailer relationships, penetrate or maintain markets and distribution channels, and react to changing consumer demands. The foregoing list of risks and uncertainties is illustrative, but by no means exhaustive. For more information on factors that may affect future performance, results or actions, please review "Risk Factors" described in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission ("SEC"), as well as other public filings with the SEC. These forward-looking statements reflect the Company's expectations as of the date hereof. The Company undertakes no obligation to update the information provided herein. Media Contacts: Joele Frank, Wilkinson Brimmer Katcher for Outerwall Inc. Matthew Sherman / James Golden / Scott Bisang / Matthew Gross 212-355-4449 Apollo Global Management, LLC Gary Stein 212-822-0467 [email protected] Rubenstein Associates, Inc. for Apollo Global Management, LLC Charles Zehren 212-843-8590 [email protected]
[ "EX", "-", "99", ".", "2", "5", "d267879dex992", ".", "htm", "EX", "-", "99", ".", "2", "EX", "-", "99", ".", "2", "Exhibit", "99", ".", "2", "Outerwall", "Inc", ".", "Announces", "Completion", "of", "Acquisition", "by", "Certain", "Funds", "Managed", "by", "Affiliates", "of", "Apollo", "Global", "Management", ",", "LLC", "BELLEVUE", ",", "Wash", ".", "-", "September", "27", ",", "2016", "-", "Outerwall", "Inc", ".", "(", "\"", "Outerwall", "\"", "or", "the", "\"", "Company", "\"", ")", "(", "Nasdaq", ":", "OUTR", ")", "today", "announced", "the", "successful", "completion", "of", "its", "agreement", "to", "be", "acquired", "by", "affiliates", "of", "certain", "funds", "(", "the", "\"", "Apollo", "Funds", "\"", ")", "managed", "by", "affiliates", "of", "Apollo", "Global", "Management", ",", "LLC", "(", "together", "with", "its", "consolidated", "subsidiaries", ",", "\"", "Apollo", "\"", ")", "(", "NYSE", ":", "APO", ")", "for", "$", "52.00", "per", "share", "in", "cash", ".", "Apollo", "and", "Outerwall", "also", "announced", "that", "the", "Company", "'s", "segments", "will", "be", "managed", "and", "operated", "as", "three", "distinct", "businesses", "and", "named", "leadership", "for", "each", "of", "those", "units", ".", "Galen", "C", ".", "Smith", "was", "named", "Chief", "Executive", "Officer", "of", "Redbox", ",", "and", "James", "H", ".", "Gaherity", "and", "David", "D.", "Maquera", "were", "promoted", "from", "serving", "as", "Presidents", "to", "Chief", "Executive", "Officers", "of", "the", "Coinstar", "and", "ecoATM", "businesses", ",", "respectively", ".", "In", "connection", "with", "the", "closing", "of", "the", "transaction", ",", "Erik", "E.", "Prusch", ",", "Chief", "Executive", "Officer", "of", "Outerwall", ",", "will", "be", "leaving", "the", "Company", ".", "\"", "I", "am", "extremely", "excited", "to", "lead", "the", "Redbox", "team", "and", "work", "with", "Apollo", "as", "we", "continue", "to", "provide", "new", "movie", "and", "video", "game", "releases", "to", "millions", "of", "loyal", "consumers", "at", "a", "great", "value", "\"", ",", "Mr", ".", "Smith", "said", ".", "\"", "We", "believe", "there", "are", "many", "attractive", "opportunities", "for", "us", "to", "build", "on", "Redbox", "'s", "unrivaled", "brand", "while", "enhancing", "our", "already", "strong", "relationships", "with", "Redbox", "'s", "studio", "and", "retail", "partners", "\"", ".", "Mr", ".", "Gaherity", "said", ",", "\"", "The", "Coinstar", "business", "is", "the", "leading", "multi", "-", "national", ",", "fully", "automated", "network", "of", "self", "-", "service", "coin", "-", "counting", "kiosks", ",", "processing", "more", "than", "$", "3 billion", "of", "coins", "annually", "and", "serving", "millions", "of", "consumers", "every", "year", ".", "We", "look", "forward", "to", "working", "with", "Apollo", "to", "grow", "our", "business", "and", "build", "upon", "our", "rich", ",", "25", "-", "year", "history", "\"", ".", "\"", "With", "a", "network", "of", "over", "2,400", "kiosks", "and", "an", "online", "solution", "through", "Gazelle.com", ",", "ecoATM", "provides", "the", "best", "solution", "for", "customers", "to", "turn", "their", "used", "mobile", "phones", "into", "cash", "\"", ",", "said", "Mr", ".", "Maquera", ".", "\"", "We", "have", "delivered", "significant", "financial", "and", "operational", "progress", "this", "year", "and", "I", "look", "forward", "to", "teaming", "with", "Apollo", "and", "our", "outstanding", "employees", "as", "we", "take", "the", "ecoATM", "business", "to", "the", "next", "level", "\"", ".", "\"", "We", "are", "pleased", "that", "the", "transaction", "has", "closed", "and", "we", "look", "forward", "to", "working", "with", "the", "respective", "business", "leaders", "and", "their", "talented", "and", "dedicated", "colleagues", "to", "provide", "unsurpassed", "customer", "experiences", "and", "value", "to", "our", "retail", "partners", "\"", ",", "said", "David", "Sambur", ",", "partner", "at", "Apollo", ".", "\"", "In", "addition", ",", "I", "would", "like", "to", "thank", "Erik", "for", "his", "service", "and", "leadership", "and", "we", "wish", "him", "the", "best", "in", "his", "future", "endeavors", "\"", ".", "About", "the", "Transaction", "The", "transaction", "was", "effected", "through", "a", "previously", "announced", "cash", "tender", "offer", "for", "all", "of", "the", "outstanding", "shares", "of", "common", "stock", "of", "Outerwall", "followed", "by", "a", "merger", ".", "The", "cash", "tender", "offer", ",", "which", "was", "made", "at", "$", "52.00", "per", "share", "pursuant", "to", "the", "Agreement", "and", "Plan", "of", "Merger", "(", "the", "\"", "Merger", "Agreement", "\"", ")", "entered", "into", "by", "affiliates", "of", "the", "Apollo", "Funds", ",", "Outerwall", ",", "and", "Redbox", "Automated", "Retail", ",", "LLC", ",", "a", "wholly", "owned", "subsidiary", "of", "Outerwall", "(", "\"", "Redbox", "\"", ")", ",", "on", "July", "24", ",", "2016", ",", "expired", "at", "12", ":", "00", "midnight", ",", "New", "York", "City", "time", ",", "on", "September", "22", ",", "2016", "(", "one", "minute", "after", "11", ":", "59", "p.m.", ",", "New", "York", "City", "time", ",", "on", "September", "22", ",", "2016", ")", ".", "On", "September", "23", ",", "2016", ",", "shares", "of", "common", "stock", "of", "Outerwall", "(", "other", "than", "shares", "tendered", "by", "guaranteed", "delivery", "where", "actual", "delivery", "had", "not", "occurred", ")", "that", "were", "validly", "tendered", "and", "not", "withdrawn", ",", "which", "constituted", "approximately", "69", ".", "3", "%", "of", "the", "then", "outstanding", "shares", "of", "Outerwall", ",", "were", "accepted", "for", "payment", ".", "Outerwall", "shares", "validly", "tendered", "by", "guaranteed", "delivery", "were", "accepted", "for", "payment", "upon", "receipt", ".", "On", "September", "27", ",", "2016", ",", "in", "accordance", "with", "the", "Merger", "Agreement", ",", "the", "acquisition", "was", "completed", "by", "(", "i", ")", "merging", "Outerwall", "with", "an", "affiliate", "of", "the", "Apollo", "Funds", "pursuant", "to", "Section", "251", "(", "h", ")", "of", "the", "General", "Corporation", "Law", "of", "the", "State", "of", "Delaware", "and", "(", "ii", ")", "immediately", "thereafter", ",", "merging", "Redbox", "with", "an", "affiliate", "of", "the", "Apollo", "Funds", "pursuant", "to", "the", "General", "Corporation", "Law", "of", "the", "State", "of", "Delaware", "and", "the", "Delaware", "Limited", "Liability", "Company", "Act", ".", "In", "connection", "with", "the", "merger", ",", "all", "shares", "not", "validly", "tendered", "in", "the", "tender", "offer", "(", "subject", "to", "certain", "exceptions", ",", "including", "shares", "for", "which", "appraisal", "rights", "were", "validly", "demanded", "and", "not", "subsequently", "withdrawn", "or", "lost", ")", "were", "cancelled", "and", "converted", "into", "the", "right", "to", "receive", "$", "52.00", "cash", "per", "share", ".", "As", "a", "result", "of", "the", "transaction", ",", "which", "was", "valued", "at", "approximately", "$", "1.6 billion", ",", "including", "net", "debt", ",", "effective", "today", "Outerwall", "became", "a", "privately", "-", "held", "company", "and", "Outerwall", "'s", "common", "stock", "ceased", "trading", "on", "the", "Nasdaq", "Global", "Select", "Market", "and", "will", "be", "delisted", ".", "Advisors", "Morgan", "Stanley", "&", "Co", ".", "LLC", "served", "as", "financial", "advisor", "to", "Outerwall", "and", "Perkins", "Coie", "LLP", "and", "Wachtell", ",", "Lipton", ",", "Rosen", "&", "Katz", "served", "as", "legal", "counsel", ".", "LionTree", "Advisors", ",", "Bank", "of", "America", "Merrill", "Lynch", ",", "Barclays", ",", "Credit", "Suisse", "and", "Jefferies", "LLC", "served", "as", "M", "&", "A", "advisors", "to", "Apollo", "and", "Paul", ",", "Weiss", ",", "Rifkind", ",", "Wharton", "&", "Garrison", "LLP", "served", "as", "legal", "advisor", "to", "Apollo", ".", "About", "Redbox", "Redbox", "provides", "new", "-", "release", "DVD", ",", "Blu", "-", "ray", "Disc", "®", "and", "video", "-", "game", "rentals", "through", "a", "national", "network", "of", "almost", "40,000", "self", "-", "service", "kiosks", ".", "For", "more", "information", ",", "visit", "www.redbox.com", ".", "About", "Coinstar", "Co", "instar", "offers", "self", "-", "service", "coin", "-", "counting", "at", "almost", "20,000", "kiosks", "where", "consumers", "can", "convert", "their", "coins", "to", "cash", "or", "stored", "value", "products", ".", "For", "more", "information", ",", "visit", "www.coinstar.com", ".", "About", "ecoATM", "ecoATM", "consists", "of", "self", "-", "service", "kiosks", "and", "an", "online", "solution", "where", "consumers", "can", "sell", "electronic", "devices", "for", "cash", "and", "generates", "revenue", "through", "the", "sale", "of", "devices", "collected", "to", "third", "party", "resellers", ",", "through", "online", "marketplaces", "and", "through", "the", "Gazelle", "direct", "-", "to", "-", "consumer", "storefront", ".", "For", "more", "information", ",", "visit", "www.ecoATM.com", ".", "About", "Apollo", "Global", "Management", "Apollo", "(", "NYSE", ":", "APO", ")", "is", "a", "leading", "global", "alternative", "investment", "manager", "with", "offices", "in", "New", "York", ",", "Los", "Angeles", ",", "Houston", ",", "Chicago", ",", "Bethesda", ",", "Toronto", ",", "London", ",", "Frankfurt", ",", "Madrid", ",", "Luxembourg", ",", "Singapore", ",", "Mumbai", ",", "Delhi", ",", "Shanghai", "and", "Hong", "Kong", ".", "Apollo", "had", "assets", "under", "management", "of", "approximately", "$", "186 billion", "as", "of", "June", "30", ",", "2016", ",", "in", "private", "equity", ",", "credit", "and", "real", "estate", "funds", "invested", "across", "a", "core", "group", "of", "nine", "industries", "where", "Apollo", "has", "considerable", "knowledge", "and", "resources", ".", "For", "more", "information", "about", "Apollo", ",", "please", "visit", "www.agm.com", ".", "Forward", "-", "Looking", "Statements", "Certain", "statements", "in", "this", "press", "release", "are", "\"", "forward", "-", "looking", "statements", "\"", "within", "the", "meaning", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "Words", "indicating", "future", "events", ",", "performance", ",", "results", "and", "actions", ",", "such", "as", "\"", "will", "\"", "and", "\"", "expect", "\"", ",", "and", "variations", "of", "such", "words", ",", "and", "similar", "expressions", "identify", "forward", "-", "looking", "statements", ",", "but", "their", "absence", "does", "not", "mean", "that", "a", "statement", "is", "not", "forward", "-", "looking", ".", "The", "forward", "-", "looking", "statements", "in", "this", "press", "release", "include", ",", "among", "others", ",", "statements", "regarding", "the", "Company", "'s", "businesses", "following", "its", "acquisition", "by", "affiliates", "of", "the", "Apollo", "Funds", ".", "Forward", "-", "looking", "statements", "are", "not", "guarantees", "of", "future", "actions", ",", "events", "or", "performance", ",", "which", "may", "vary", "materially", "from", "those", "expressed", "or", "implied", "in", "such", "statements", ".", "Differences", "may", "result", "from", ",", "among", "other", "things", ",", "actions", "taken", "by", "the", "Company", "or", "Apollo", ",", "or", "other", "third", "parties", ",", "including", "those", "beyond", "the", "Company", "'s", "control", ".", "Such", "risks", "and", "uncertainties", "include", ",", "but", "are", "not", "limited", "to", ",", "results", "and", "timing", "of", "strategic", "and", "financial", "activities", ",", "continuation", "of", "or", "changes", "in", "strategic", "and", "financial", "objectives", ",", "and", "the", "ability", "to", "attract", "new", "or", "maintain", "retailer", "relationships", ",", "penetrate", "or", "maintain", "markets", "and", "distribution", "channels", ",", "and", "react", "to", "changing", "consumer", "demands", ".", "The", "foregoing", "list", "of", "risks", "and", "uncertainties", "is", "illustrative", ",", "but", "by", "no", "means", "exhaustive", ".", "For", "more", "information", "on", "factors", "that", "may", "affect", "future", "performance", ",", "results", "or", "actions", ",", "please", "review", "\"", "Risk", "Factors", "\"", "described", "in", "our", "most", "recent", "Annual", "Report", "on", "Form", "10", "-", "K", "and", "subsequent", "Quarterly", "Reports", "on", "Form", "10", "-", "Q", "filed", "with", "the", "Securities", "and", "Exchange", "Commission", "(", "\"", "SEC", "\"", ")", ",", "as", "well", "as", "other", "public", "filings", "with", "the", "SEC", ".", "These", "forward", "-", "looking", "statements", "reflect", "the", "Company", "'s", "expectations", "as", "of", "the", "date", "hereof", ".", "The", "Company", "undertakes", "no", "obligation", "to", "update", "the", "information", "provided", "herein", ".", "Media", "Contacts", ":", "Joele", "Frank", ",", "Wilkinson", "Brimmer", "Katcher", "for", "Outerwall", "Inc", ".", "Matthew", "Sherman", "/", "James", "Golden", "/", "Scott", "Bisang", "/", "Matthew", "Gross", "212", "-", "355", "-", "4449", "Apollo", "Global", "Management", ",", "LLC", "Gary", "Stein", "212", "-", "822", "-", "0467", "[email protected]", "Rubenstein", "Associates", ",", "Inc", ".", "for", "Apollo", "Global", "Management", ",", "LLC", "Charles", "Zehren", "212", "-", "843", "-", "8590", "[email protected]" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "O", "B-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1609234-000114420417065200-tv481719_ex99-1
EX-99.1 4 tv481719_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 FOR IMMEDIATE RELEASE American Realty Capital Healthcare Trust III, Inc. Completes Asset Sale to Healthcare Trust, Inc. Stockholders Approve Asset Sale and Plan of Liquidation Initial Liquidation Distribution to Stockholders Approved New York, New York, December 26, 2017 - American Realty Capital Healthcare Trust III, Inc. (the "Company") announced today that, following the approval of a majority of its stockholders at its annual meeting of stockholders convened on December 21, 2017, the Company closed on the sale of substantially all of its assets to Healthcare Trust, Inc. ("HTI") on December 22, 2017. Pursuant to the Company's plan of liquidation also approved by its stockholders at the annual meeting, the Company will distribute a portion of the net cash proceeds from the asset sale to its stockholders. Accordingly, the Company's board has approved an initial liquidating distribution amount of $15.75 per share of common stock, to be paid on or about January 5, 2018 to stockholders of record at the close of business on December 22, 2017. Pursuant to the plan of liquidation, the final liquidation distribution will not occur earlier than the end of the 14-month survival period of the representations and warranties under the purchase agreement with HTI and will not occur prior to final resolution of any unsatisfied indemnification claims or other claims that are first made prior to the end of that period. Financial Advisors SunTrust Robinson Humphrey, Inc. served as exclusive financial advisor to the Company's special committee of independent directors. Shapiro Sher Guinot & Sandler served as legal counsel to the Company's special committee. KeyBanc Capital Markets Inc. served as exclusive financial advisor to HTI's special committee of independent directors. Arnold & Porter Kaye Scholer LLP served as legal counsel to HTI's special committee. Proskauer Rose LLP served as outside legal counsel to both the Company and HTI. Important Notice The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. In addition, words such as "anticipate", "believe", "expect" and "intend" indicate a forward-looking statement, although not all forward-looking statements include these words. Contacts Todd Jensen Interim Chief Executive Officer and President American Realty Capital Healthcare Trust III, Inc. (212) 415-6500 Investor Relations [email protected] (866) 902-0063
[ "EX", "-", "99", ".", "1", "4", "tv481719", "_", "ex99", "-", "1", ".", "htm", "EXHIBIT", "99", ".", "1", "Exhibit", "99", ".", "1", "FOR", "IMMEDIATE", "RELEASE", "American", "Realty", "Capital", "Healthcare", "Trust", "III", ",", "Inc", ".", "Completes", "Asset", "Sale", "to", "Healthcare", "Trust", ",", "Inc", ".", "Stockholders", "Approve", "Asset", "Sale", "and", "Plan", "of", "Liquidation", "Initial", "Liquidation", "Distribution", "to", "Stockholders", "Approved", "New", "York", ",", "New", "York", ",", "December", "26", ",", "2017", "-", "American", "Realty", "Capital", "Healthcare", "Trust", "III", ",", "Inc", ".", "(", "the", "\"", "Company", "\"", ")", "announced", "today", "that", ",", "following", "the", "approval", "of", "a", "majority", "of", "its", "stockholders", "at", "its", "annual", "meeting", "of", "stockholders", "convened", "on", "December", "21", ",", "2017", ",", "the", "Company", "closed", "on", "the", "sale", "of", "substantially", "all", "of", "its", "assets", "to", "Healthcare", "Trust", ",", "Inc", ".", "(", "\"", "HTI", "\"", ")", "on", "December", "22", ",", "2017", ".", "Pursuant", "to", "the", "Company", "'s", "plan", "of", "liquidation", "also", "approved", "by", "its", "stockholders", "at", "the", "annual", "meeting", ",", "the", "Company", "will", "distribute", "a", "portion", "of", "the", "net", "cash", "proceeds", "from", "the", "asset", "sale", "to", "its", "stockholders", ".", "Accordingly", ",", "the", "Company", "'s", "board", "has", "approved", "an", "initial", "liquidating", "distribution", "amount", "of", "$", "15.75", "per", "share", "of", "common", "stock", ",", "to", "be", "paid", "on", "or", "about", "January", "5", ",", "2018", "to", "stockholders", "of", "record", "at", "the", "close", "of", "business", "on", "December", "22", ",", "2017", ".", "Pursuant", "to", "the", "plan", "of", "liquidation", ",", "the", "final", "liquidation", "distribution", "will", "not", "occur", "earlier", "than", "the", "end", "of", "the", "14", "-", "month", "survival", "period", "of", "the", "representations", "and", "warranties", "under", "the", "purchase", "agreement", "with", "HTI", "and", "will", "not", "occur", "prior", "to", "final", "resolution", "of", "any", "unsatisfied", "indemnification", "claims", "or", "other", "claims", "that", "are", "first", "made", "prior", "to", "the", "end", "of", "that", "period", ".", "Financial", "Advisors", "SunTrust", "Robinson", "Humphrey", ",", "Inc", ".", "served", "as", "exclusive", "financial", "advisor", "to", "the", "Company", "'s", "special", "committee", "of", "independent", "directors", ".", "Shapiro", "Sher", "Guinot", "&", "Sandler", "served", "as", "legal", "counsel", "to", "the", "Company", "'s", "special", "committee", ".", "KeyBanc", "Capital", "Markets", "Inc", ".", "served", "as", "exclusive", "financial", "advisor", "to", "HTI", "'s", "special", "committee", "of", "independent", "directors", ".", "Arnold", "&", "Porter", "Kaye", "Scholer", "LLP", "served", "as", "legal", "counsel", "to", "HTI", "'s", "special", "committee", ".", "Proskauer", "Rose", "LLP", "served", "as", "outside", "legal", "counsel", "to", "both", "the", "Company", "and", "HTI", ".", "Important", "Notice", "The", "statements", "in", "this", "press", "release", "that", "are", "not", "historical", "facts", "may", "be", "forward", "-", "looking", "statements", ".", "These", "forward", "-", "looking", "statements", "involve", "risks", "and", "uncertainties", "that", "could", "cause", "the", "outcome", "to", "be", "materially", "different", ".", "In", "addition", ",", "words", "such", "as", "\"", "anticipate", "\"", ",", "\"", "believe", "\"", ",", "\"", "expect", "\"", "and", "\"", "intend", "\"", "indicate", "a", "forward", "-", "looking", "statement", ",", "although", "not", "all", "forward", "-", "looking", "statements", "include", "these", "words", ".", "Contacts", "Todd", "Jensen", "Interim", "Chief", "Executive", "Officer", "and", "President", "American", "Realty", "Capital", "Healthcare", "Trust", "III", ",", "Inc", ".", "(", "212", ")", "415", "-", "6500", "Investor", "Relations", "[email protected]", "(", "866", ")", "902", "-", "0063" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1028985-000095017205000464-rov-ex99_1
EX-99 13 rov-ex99_1.txt EX. 99.1 - PRESS RELEASE EXHIBIT 99.1 Rayovac Completes Acquisition of United Industries, Debt Tender Offer and Related Financings ATLANTA, Feb 07, 2005 /PRNewswire-FirstCall via COMTEX/ -- Rayovac Corp. (NYSE: ROV), a global consumer products company with a diverse portfolio of world-class brands, announced today that it has completed its acquisition of United Industries Corporation. Rayovac further announced that, in connection with that acquisition, Rayovac completed its offering of $700 million aggregate principal amount of its 7 3/8% Senior Subordinated Notes due 2015 and its tender offer for United Industries' 9 7/8% Senior Subordinated Notes due 2009, retired United Industries' senior credit facilities and replaced Rayovac's senior credit facilities with new senior credit facilities initially aggregating $1.03 billion. Rayovac financed the cash portion of the purchase price of the United Industries acquisition, the tender offer for United Industries' 9 7/8% Senior Subordinated Notes due 2009 and the retirement of United Industries' senior credit facilities with the proceeds from the offering of its 7 3/8% Senior Subordinated Notes due 2015 and new senior credit facilities. As of 9:00 a.m., New York City time, on February 7, 2005, the expiration date of Rayovac's tender offer for United Industries' 9 7/8% Senior Subordinated Notes due 2009, Rayovac had received tenders from holders of, and accepted for payment, $221,695,000 in aggregate principal amount of the notes representing approximately 96% of the outstanding notes. Rayovac will redeem any remaining outstanding United Industries notes on or shortly after April 1, 2005 pursuant to the applicable terms of the indenture governing those notes. In connection with the acquisition of United Industries, Rayovac increased the size of its board of directors from eight to ten members. Scott A. Schoen and Charles A. Brizius, both of Thomas H. Lee Partners, L.P., have been appointed as the new members of Rayovac's board. Mr. Schoen is Co-President and Mr. Brizius is Managing Director of Thomas H. Lee Partners, L.P. In addition, Robert L. Caulk, CEO of United Industries, will become a member of Rayovac's Executive Committee. About United Industries: United Industries Corporation, headquartered in St. Louis, is a leading manufacturer and marketer of products for the consumer lawn-and-garden care and household insect control markets in North America and a leading supplier of quality products to the pet supply industry in the United States. United Industries has approximately 2,800 employees throughout North America. About Rayovac: Rayovac is a global consumer products company and one of the largest battery, shaving and grooming, and lighting companies in the world. Through a diverse and growing portfolio of world-class brands -- including Rayovac, Varta and 1 Remington -- Rayovac holds leading market positions in a number of major product categories. The company's products are sold by 19 of the world's top 20 retailers, and are available in over one million stores in 120 countries around the world. Headquartered in Atlanta, Georgia, Rayovac generates approximately $1.5 billion in annual revenues and has approximately 6,500 employees worldwide. The company's stock trades on the New York Stock Exchange under the symbol ROV. Forward-Looking Statements Certain matters discussed in this news release, with the exception of historical matters, may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a number of risks, uncertainties and other factors that could cause results to differ materially from those anticipated as of the date of this release. Actual results may differ materially from these statements as a result of (1) our ability to achieve anticipated synergies and efficiencies as a result of this transaction, (2) changes in external competitive market factors, such as introduction of new product features or technological developments, development of new competitors or competitive brands or competitive promotional activity or spending, (3) changes in consumer demand for the various types of products Rayovac and United offer, (4) changes in the general economic conditions where Rayovac and United do business, such as stock market prices, interest rates, currency exchange rates, inflation and raw material costs, (5) our ability to successfully implement manufacturing, distribution and other cost efficiencies and (6) various other factors, including those discussed herein and those set forth in Rayovac's and United's securities filings, including their most recently filed Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. SOURCE Rayovac Corp. Investors, Nancy O'Donnell, VP Investor Relations of Rayovac Corp., +1-770-829-6208, or Media, David Doolittle of Ketchum for Rayovac, +1-404-879-9266, [email protected] http://www.prnewswire.com 2
[ "EX", "-", "99", "13", "rov", "-", "ex99", "_", "1", ".", "txt", "EX", ".", "99", ".", "1", "-", "PRESS", "RELEASE", "EXHIBIT", "99", ".", "1", "Rayovac", "Completes", "Acquisition", "of", "United", "Industries", ",", "Debt", "Tender", "Offer", "and", "Related", "Financings", "ATLANTA", ",", "Feb", "07", ",", "2005", "/", "PRNewswire", "-", "FirstCall", "via", "COMTEX", "/", "--", "Rayovac", "Corp", ".", "(", "NYSE", ":", "ROV", ")", ",", "a", "global", "consumer", "products", "company", "with", "a", "diverse", "portfolio", "of", "world", "-", "class", "brands", ",", "announced", "today", "that", "it", "has", "completed", "its", "acquisition", "of", "United", "Industries", "Corporation", ".", "Rayovac", "further", "announced", "that", ",", "in", "connection", "with", "that", "acquisition", ",", "Rayovac", "completed", "its", "offering", "of", "$", "700 million", "aggregate", "principal", "amount", "of", "its", "7", "3/8%", "Senior", "Subordinated", "Notes", "due", "2015", "and", "its", "tender", "offer", "for", "United", "Industries", "'", "9", "7/8%", "Senior", "Subordinated", "Notes", "due", "2009", ",", "retired", "United", "Industries", "'", "senior", "credit", "facilities", "and", "replaced", "Rayovac", "'s", "senior", "credit", "facilities", "with", "new", "senior", "credit", "facilities", "initially", "aggregating", "$", "1.03 billion", ".", "Rayovac", "financed", "the", "cash", "portion", "of", "the", "purchase", "price", "of", "the", "United", "Industries", "acquisition", ",", "the", "tender", "offer", "for", "United", "Industries", "'", "9", "7/8%", "Senior", "Subordinated", "Notes", "due", "2009", "and", "the", "retirement", "of", "United", "Industries", "'", "senior", "credit", "facilities", "with", "the", "proceeds", "from", "the", "offering", "of", "its", "7", "3/8%", "Senior", "Subordinated", "Notes", "due", "2015", "and", "new", "senior", "credit", "facilities", ".", "As", "of", "9", ":", "00", "a.m.", ",", "New", "York", "City", "time", ",", "on", "February", "7", ",", "2005", ",", "the", "expiration", "date", "of", "Rayovac", "'s", "tender", "offer", "for", "United", "Industries", "'", "9", "7/8%", "Senior", "Subordinated", "Notes", "due", "2009", ",", "Rayovac", "had", "received", "tenders", "from", "holders", "of", ",", "and", "accepted", "for", "payment", ",", "$", "221,695,000", "in", "aggregate", "principal", "amount", "of", "the", "notes", "representing", "approximately", "96", "%", "of", "the", "outstanding", "notes", ".", "Rayovac", "will", "redeem", "any", "remaining", "outstanding", "United", "Industries", "notes", "on", "or", "shortly", "after", "April", "1", ",", "2005", "pursuant", "to", "the", "applicable", "terms", "of", "the", "indenture", "governing", "those", "notes", ".", "In", "connection", "with", "the", "acquisition", "of", "United", "Industries", ",", "Rayovac", "increased", "the", "size", "of", "its", "board", "of", "directors", "from", "eight", "to", "ten", "members", ".", "Scott", "A", ".", "Schoen", "and", "Charles", "A", ".", "Brizius", ",", "both", "of", "Thomas", "H", ".", "Lee", "Partners", ",", "L", ".", "P", ".", ",", "have", "been", "appointed", "as", "the", "new", "members", "of", "Rayovac", "'s", "board", ".", "Mr", ".", "Schoen", "is", "Co", "-", "President", "and", "Mr", ".", "Brizius", "is", "Managing", "Director", "of", "Thomas", "H", ".", "Lee", "Partners", ",", "L", ".", "P", ".", "In", "addition", ",", "Robert", "L", ".", "Caulk", ",", "CEO", "of", "United", "Industries", ",", "will", "become", "a", "member", "of", "Rayovac", "'s", "Executive", "Committee", ".", "About", "United", "Industries", ":", "United", "Industries", "Corporation", ",", "headquartered", "in", "St", ".", "Louis", ",", "is", "a", "leading", "manufacturer", "and", "marketer", "of", "products", "for", "the", "consumer", "lawn", "-", "and", "-", "garden", "care", "and", "household", "insect", "control", "markets", "in", "North", "America", "and", "a", "leading", "supplier", "of", "quality", "products", "to", "the", "pet", "supply", "industry", "in", "the", "United", "States", ".", "United", "Industries", "has", "approximately", "2,800", "employees", "throughout", "North", "America", ".", "About", "Rayovac", ":", "Rayovac", "is", "a", "global", "consumer", "products", "company", "and", "one", "of", "the", "largest", "battery", ",", "shaving", "and", "grooming", ",", "and", "lighting", "companies", "in", "the", "world", ".", "Through", "a", "diverse", "and", "growing", "portfolio", "of", "world", "-", "class", "brands", "--", "including", "Rayovac", ",", "Varta", "and", "1", "Remington", "--", "Rayovac", "holds", "leading", "market", "positions", "in", "a", "number", "of", "major", "product", "categories", ".", "The", "company", "'s", "products", "are", "sold", "by", "19", "of", "the", "world", "'s", "top", "20", "retailers", ",", "and", "are", "available", "in", "over", "one", "million", "stores", "in", "120", "countries", "around", "the", "world", ".", "Headquartered", "in", "Atlanta", ",", "Georgia", ",", "Rayovac", "generates", "approximately", "$", "1.5 billion", "in", "annual", "revenues", "and", "has", "approximately", "6,500", "employees", "worldwide", ".", "The", "company", "'s", "stock", "trades", "on", "the", "New", "York", "Stock", "Exchange", "under", "the", "symbol", "ROV", ".", "Forward", "-", "Looking", "Statements", "Certain", "matters", "discussed", "in", "this", "news", "release", ",", "with", "the", "exception", "of", "historical", "matters", ",", "may", "be", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "These", "statements", "are", "subject", "to", "a", "number", "of", "risks", ",", "uncertainties", "and", "other", "factors", "that", "could", "cause", "results", "to", "differ", "materially", "from", "those", "anticipated", "as", "of", "the", "date", "of", "this", "release", ".", "Actual", "results", "may", "differ", "materially", "from", "these", "statements", "as", "a", "result", "of", "(", "1", ")", "our", "ability", "to", "achieve", "anticipated", "synergies", "and", "efficiencies", "as", "a", "result", "of", "this", "transaction", ",", "(", "2", ")", "changes", "in", "external", "competitive", "market", "factors", ",", "such", "as", "introduction", "of", "new", "product", "features", "or", "technological", "developments", ",", "development", "of", "new", "competitors", "or", "competitive", "brands", "or", "competitive", "promotional", "activity", "or", "spending", ",", "(", "3", ")", "changes", "in", "consumer", "demand", "for", "the", "various", "types", "of", "products", "Rayovac", "and", "United", "offer", ",", "(", "4", ")", "changes", "in", "the", "general", "economic", "conditions", "where", "Rayovac", "and", "United", "do", "business", ",", "such", "as", "stock", "market", "prices", ",", "interest", "rates", ",", "currency", "exchange", "rates", ",", "inflation", "and", "raw", "material", "costs", ",", "(", "5", ")", "our", "ability", "to", "successfully", "implement", "manufacturing", ",", "distribution", "and", "other", "cost", "efficiencies", "and", "(", "6", ")", "various", "other", "factors", ",", "including", "those", "discussed", "herein", "and", "those", "set", "forth", "in", "Rayovac", "'s", "and", "United", "'s", "securities", "filings", ",", "including", "their", "most", "recently", "filed", "Quarterly", "Reports", "on", "Form", "10", "-", "Q", "and", "Annual", "Reports", "on", "Form", "10", "-", "K", ".", "SOURCE", "Rayovac", "Corp", ".", "Investors", ",", "Nancy", "O'Donnell", ",", "VP", "Investor", "Relations", "of", "Rayovac", "Corp", ".", ",", "+", "1", "-", "770", "-", "829", "-", "6208", ",", "or", "Media", ",", "David", "Doolittle", "of", "Ketchum", "for", "Rayovac", ",", "+", "1", "-", "404", "-", "879", "-", "9266", ",", "[email protected]", "http://www.prnewswire.com", "2" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "B-Generic_Info.ANNUAL_REVENUES", "I-Generic_Info.ANNUAL_REVENUES", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1325281-000110465913055136-a13-16800_1ex99d1
EX-99.1 3 a13-16800_1ex99d1.htm EX-99.1 EXHIBIT 99.1 FOR FURTHER INFORMATION: FOR IMMEDIATE RELEASE Andrea K. Tarbox Thursday, July 18, 2013 Vice President and Chief Financial Officer 847.239.8812 KAPSTONE COMPLETES ACQUISITION OF LONGVIEW FIBRE PAPER AND PACKAGING, INC. NORTHBROOK, IL - July 18, 2013 - KapStone Paper and Packaging Corporation (NYSE: KS) today announced that it has completed the stock purchase of Longview Fibre Paper and Packaging, Inc. ("Longview"). Longview, headquartered in Longview, WA, is a leading manufacturer of high quality containerboard, lightweight high performance multiwall paper, specialty Kraft papers, and corrugated products. Longview employs about 1,800 people. "Today we are welcoming Longview's team as the newest members of KapStone", stated Roger W. Stone, Chairman and Chief Executive Officer. "The Longview team orchestrated a transformation that is truly, in my experience, the most amazing that I've actually ever seen in my 55 years in the industry. We're thrilled and delighted to officially have them with us". Matt Kaplan, KapStone's President and Chief Operating Officer, further stated, "Longview continues to demonstrate their excellence by delivering outstanding results. In the second quarter, Longview's revenues and adjusted EBITDA of $228 million and $49 million, respectively, yielded an adjusted EBITDA margin of 20.7 per cent, one of the best in the industry. Even more notable was that they achieved these results despite incurring $4.3 million of expense for their once every five year planned mill maintenance outage performed in April. June was particularly strong as adjusted EBITDA for the month exceeded $19 million benefitting from the partial implementation in the quarter of the $50 per ton containerboard and associated box price increases". Funding for the acquisition came from borrowings under the $1.675 billion amended and restated senior secured credit facility led by Bank of America, Barclays Bank, and Well Fargo Bank. The amended facility now consists of Term Loan A-1 of $805 million maturing over five years, Term Loan A-2 of $470 million maturing over 7 years with one per cent amortization in each of the first 6 years with the remaining principal due at the end of year seven, and a $400 million revolving credit facility. The initial blended interest rate will be 2.6% as determined from the LIBOR base pricing grid, and the rate is subject to change over the life of the loans as LIBOR rates and KapStone's debt to EBITDA ratio change. Under the terms of Longview's existing $480 million, 8 percent senior secured notes, current noteholders will be notified shortly regarding redemption of the notes, including a 4 percent change of control penalty. The redemption is expected to take 30 days. 1 About the Company Headquartered in Northbrook, IL, KapStone Paper and Packaging Corporation is a leading North American producer of containerboard, unbleached kraft paper products, and corrugated products. The Company operates four paper mills and 22 converting plants located throughout the United States. The business employs approximately 4,500 people. Non-GAAP Financial Measures Investors are cautioned that adjusted EBITDA information contained in this press release is not a financial measure under U.S. generally accepted accounting principles (GAAP). In addition, it should not be construed as an alternative to any other measures of performance determined in accordance with GAAP. This non-GAAP financial measure is provided to enhance the user's overall understanding of Longview. KapStone believes that this non-GAAP measure provides useful information to investors because it provides for greater transparency to key measures used to evaluate the performance and liquidity of the company. Management uses adjusted EBITDA for evaluating performance against competitors. Adjusted EBITDA represents earnings before interest, income taxes, depreciation and amortization and one-time adjustments made in connection with KapStone's acquisition of Longview. Adjusted EBITDA is not a measure of financial performance under GAAP and should not be considered as an alternative to earnings before income taxes (or any other performance measure under GAAP) as a measure of performance or to cash flows from operating, investing or financing activities as an indicator of cash flows or as a measure of liquidity. 2
[ "EX", "-", "99", ".", "1", "3", "a13", "-", "16800", "_", "1ex99d1", ".", "htm", "EX", "-", "99", ".", "1", "EXHIBIT", "99", ".", "1", "FOR", "FURTHER", "INFORMATION", ":", "FOR", "IMMEDIATE", "RELEASE", "Andrea", "K", ".", "Tarbox", "Thursday", ",", "July", "18", ",", "2013", "Vice", "President", "and", "Chief", "Financial", "Officer", "847", ".", "239", ".", "8812", "KAPSTONE", "COMPLETES", "ACQUISITION", "OF", "LONGVIEW", "FIBRE", "PAPER", "AND", "PACKAGING", ",", "INC", ".", "NORTHBROOK", ",", "IL", "-", "July", "18", ",", "2013", "-", "KapStone", "Paper", "and", "Packaging", "Corporation", "(", "NYSE", ":", "KS", ")", "today", "announced", "that", "it", "has", "completed", "the", "stock", "purchase", "of", "Longview", "Fibre", "Paper", "and", "Packaging", ",", "Inc", ".", "(", "\"", "Longview", "\"", ")", ".", "Longview", ",", "headquartered", "in", "Longview", ",", "WA", ",", "is", "a", "leading", "manufacturer", "of", "high", "quality", "containerboard", ",", "lightweight", "high", "performance", "multiwall", "paper", ",", "specialty", "Kraft", "papers", ",", "and", "corrugated", "products", ".", "Longview", "employs", "about", "1,800", "people", ".", "\"", "Today", "we", "are", "welcoming", "Longview", "'s", "team", "as", "the", "newest", "members", "of", "KapStone", "\"", ",", "stated", "Roger", "W", ".", "Stone", ",", "Chairman", "and", "Chief", "Executive", "Officer", ".", "\"", "The", "Longview", "team", "orchestrated", "a", "transformation", "that", "is", "truly", ",", "in", "my", "experience", ",", "the", "most", "amazing", "that", "I", "'", "ve", "actually", "ever", "seen", "in", "my", "55", "years", "in", "the", "industry", ".", "We", "'", "re", "thrilled", "and", "delighted", "to", "officially", "have", "them", "with", "us", "\"", ".", "Matt", "Kaplan", ",", "KapStone", "'s", "President", "and", "Chief", "Operating", "Officer", ",", "further", "stated", ",", "\"", "Longview", "continues", "to", "demonstrate", "their", "excellence", "by", "delivering", "outstanding", "results", ".", "In", "the", "second", "quarter", ",", "Longview", "'s", "revenues", "and", "adjusted", "EBITDA", "of", "$", "228 million", "and", "$", "49 million", ",", "respectively", ",", "yielded", "an", "adjusted", "EBITDA", "margin", "of", "20", ".", "7", "per", "cent", ",", "one", "of", "the", "best", "in", "the", "industry", ".", "Even", "more", "notable", "was", "that", "they", "achieved", "these", "results", "despite", "incurring", "$", "4.3 million", "of", "expense", "for", "their", "once", "every", "five", "year", "planned", "mill", "maintenance", "outage", "performed", "in", "April", ".", "June", "was", "particularly", "strong", "as", "adjusted", "EBITDA", "for", "the", "month", "exceeded", "$", "19 million", "benefitting", "from", "the", "partial", "implementation", "in", "the", "quarter", "of", "the", "$", "50", "per", "ton", "containerboard", "and", "associated", "box", "price", "increases", "\"", ".", "Funding", "for", "the", "acquisition", "came", "from", "borrowings", "under", "the", "$", "1.675 billion", "amended", "and", "restated", "senior", "secured", "credit", "facility", "led", "by", "Bank", "of", "America", ",", "Barclays", "Bank", ",", "and", "Well", "Fargo", "Bank", ".", "The", "amended", "facility", "now", "consists", "of", "Term", "Loan", "A", "-", "1", "of", "$", "805 million", "maturing", "over", "five", "years", ",", "Term", "Loan", "A", "-", "2", "of", "$", "470 million", "maturing", "over", "7", "years", "with", "one", "per", "cent", "amortization", "in", "each", "of", "the", "first", "6", "years", "with", "the", "remaining", "principal", "due", "at", "the", "end", "of", "year", "seven", ",", "and", "a", "$", "400 million", "revolving", "credit", "facility", ".", "The", "initial", "blended", "interest", "rate", "will", "be", "2", ".", "6", "%", "as", "determined", "from", "the", "LIBOR", "base", "pricing", "grid", ",", "and", "the", "rate", "is", "subject", "to", "change", "over", "the", "life", "of", "the", "loans", "as", "LIBOR", "rates", "and", "KapStone", "'s", "debt", "to", "EBITDA", "ratio", "change", ".", "Under", "the", "terms", "of", "Longview", "'s", "existing", "$", "480 million", ",", "8", "percent", "senior", "secured", "notes", ",", "current", "noteholders", "will", "be", "notified", "shortly", "regarding", "redemption", "of", "the", "notes", ",", "including", "a", "4", "percent", "change", "of", "control", "penalty", ".", "The", "redemption", "is", "expected", "to", "take", "30", "days", ".", "1", "About", "the", "Company", "Headquartered", "in", "Northbrook", ",", "IL", ",", "KapStone", "Paper", "and", "Packaging", "Corporation", "is", "a", "leading", "North", "American", "producer", "of", "containerboard", ",", "unbleached", "kraft", "paper", "products", ",", "and", "corrugated", "products", ".", "The", "Company", "operates", "four", "paper", "mills", "and", "22", "converting", "plants", "located", "throughout", "the", "United", "States", ".", "The", "business", "employs", "approximately", "4,500", "people", ".", "Non", "-", "GAAP", "Financial", "Measures", "Investors", "are", "cautioned", "that", "adjusted", "EBITDA", "information", "contained", "in", "this", "press", "release", "is", "not", "a", "financial", "measure", "under", "U", ".", "S", ".", "generally", "accepted", "accounting", "principles", "(", "GAAP", ")", ".", "In", "addition", ",", "it", "should", "not", "be", "construed", "as", "an", "alternative", "to", "any", "other", "measures", "of", "performance", "determined", "in", "accordance", "with", "GAAP", ".", "This", "non", "-", "GAAP", "financial", "measure", "is", "provided", "to", "enhance", "the", "user", "'s", "overall", "understanding", "of", "Longview", ".", "KapStone", "believes", "that", "this", "non", "-", "GAAP", "measure", "provides", "useful", "information", "to", "investors", "because", "it", "provides", "for", "greater", "transparency", "to", "key", "measures", "used", "to", "evaluate", "the", "performance", "and", "liquidity", "of", "the", "company", ".", "Management", "uses", "adjusted", "EBITDA", "for", "evaluating", "performance", "against", "competitors", ".", "Adjusted", "EBITDA", "represents", "earnings", "before", "interest", ",", "income", "taxes", ",", "depreciation", "and", "amortization", "and", "one", "-", "time", "adjustments", "made", "in", "connection", "with", "KapStone", "'s", "acquisition", "of", "Longview", ".", "Adjusted", "EBITDA", "is", "not", "a", "measure", "of", "financial", "performance", "under", "GAAP", "and", "should", "not", "be", "considered", "as", "an", "alternative", "to", "earnings", "before", "income", "taxes", "(", "or", "any", "other", "performance", "measure", "under", "GAAP", ")", "as", "a", "measure", "of", "performance", "or", "to", "cash", "flows", "from", "operating", ",", "investing", "or", "financing", "activities", "as", "an", "indicator", "of", "cash", "flows", "or", "as", "a", "measure", "of", "liquidity", ".", "2" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Generic_Info.ANNUAL_REVENUES", "I-Generic_Info.ANNUAL_REVENUES", "O", "B-Generic_Info.ANNUAL_REVENUES", "I-Generic_Info.ANNUAL_REVENUES", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1672326-000165495416003326-yumadel_ex991
EX-99.1 13 yumadel_ex991.htm PRESS RELEASE ANNOUNCING COMPLETION OF REINCORPORATION MERGER DATED OCTOBER 26, 2016 Blueprint Exhibit 99.1 NEWS RELEASE YUMA ENERGY, INC. ANNOUNCES STOCKHOLDER APPROVAL OF THE MERGER WITH DAVIS PETROLEUM ACQUISITION CORP., CONVERSION OF ITS SERIES A PREFERRED STOCK INTO COMMON STOCK, A 1-FOR-20 REVERSE COMMON STOCK SPLIT, AND A REINCORPORATION IN DELAWARE HOUSTON, TEXAS - October 26, 2016 - Yuma Energy, Inc. (NYSE MKT: YUMA) ("Yuma") announced today that its stockholders and the stockholders of Davis Petroleum Acquisition, Inc. have approved the merger of the two companies and all of the other approvals relating to the merger, including reincorporation of Yuma in Delaware. Also, in connection with the merger and the stockholder approval, Yuma converted each share of its existing Series A Preferred Stock into 35 shares of common stock, and subsequently completed a 1-for-20 reverse split of its common stock. Computershare, the Company's transfer agent, will mail letters of transmittal to all Yuma stockholders of record with instructions on how to deliver their stock certificates in connection with Yuma's reincorporation into Delaware. Yuma stockholders should not surrender their stock certificates until they have completed their letter of transmittal. About Yuma Energy, Inc. Yuma Energy, Inc. is an independent Houston-based exploration and production company focused on acquiring, developing and exploring for conventional and unconventional oil and natural gas resources, primarily in the U.S. Gulf Coast and California. Yuma has employed a 3-D seismic-based strategy to build a multi-year inventory of development and exploration prospects. Yuma's operations are currently focused on onshore properties located in central and southern Louisiana, where it is targeting the Austin Chalk, Tuscaloosa, Wilcox, Frio, Marg Tex and Hackberry formations. In addition, Yuma has a non-operated position in the Bakken Shale in North Dakota and operated positions in Kern and Santa Barbara Counties in California. Yuma's common stock is traded on the NYSE MKT under the trading symbol "YUMA." For more information about Yuma Energy, Inc., please visit Yuma's website at www.yumaenergyinc.com . Forward-Looking Statements This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Statements that are not strictly historical statements constitute forward-looking statements and may often, but not always, be identified by the use of such words such as "expects", "believes", "intends," "anticipates", "plans", "estimates", "potential", "possible", or "probable" or statements that certain actions, events or results "may", "will", "should", or "could" be taken, occur or be achieved. The forward-looking statements include statements about future operations, estimates of reserve and production volumes, and the anticipated timing for closing the proposed merger. Forward-looking statements are based on current expectations and assumptions and analyses made by Yuma in light of experience and perception of historical trends, current conditions and expected future developments, as well as other factors appropriate under the circumstances. However, whether actual results and developments will conform with expectations is subject to a number of risks and uncertainties, including but not limited to: problems may arise in the integration of the operations of Yuma and Davis Petroleum Acquisition Corp.; the risks of exploration and production segment of the oil and gas industry (for example, operational risks in exploring for, developing and producing crude oil and natural gas); risks and uncertainties involving geology of oil and gas deposits; the uncertainty of reserve estimates; revisions to reserve estimates as a result of changes in commodity prices; the uncertainty of estimates and projections relating to future production, costs and expenses; potential delays or changes in plans with respect to exploration or development projects or capital expenditures; health, safety and environmental risks and risks related to weather; declines in oil and gas prices; inability of management to execute its plans to meet its goals, shortages of drilling equipment, oil field personnel and services; unavailability of gathering systems, pipelines and processing facilities; and the possibility that government policies may change. Yuma's annual report on Form 10-K/A for the year ended December 31, 2015, quarterly reports on Form 10-Q, recent current reports on Form 8-K, and other Securities and Exchange Commission ("SEC") filings discuss some of the important risk factors identified that may affect Yuma's business, results of operations, and financial condition. Yuma undertakes no obligation to revise or update publicly any forward-looking statements, except as required by law. For more information, please contact: James J. Jacobs Treasurer and Chief Financial Officer Yuma Energy, Inc. 1177 West Loop South, Suite 1825 Houston, Texas 77027 Telephone: (713) 968-7000
[ "EX", "-", "99", ".", "1", "13", "yumadel", "_", "ex991", ".", "htm", "PRESS", "RELEASE", "ANNOUNCING", "COMPLETION", "OF", "REINCORPORATION", "MERGER", "DATED", "OCTOBER", "26", ",", "2016", "Blueprint", "Exhibit", "99", ".", "1", "NEWS", "RELEASE", "YUMA", "ENERGY", ",", "INC", ".", "ANNOUNCES", "STOCKHOLDER", "APPROVAL", "OF", "THE", "MERGER", "WITH", "DAVIS", "PETROLEUM", "ACQUISITION", "CORP", ".", ",", "CONVERSION", "OF", "ITS", "SERIES", "A", "PREFERRED", "STOCK", "INTO", "COMMON", "STOCK", ",", "A", "1", "-", "FOR", "-", "20", "REVERSE", "COMMON", "STOCK", "SPLIT", ",", "AND", "A", "REINCORPORATION", "IN", "DELAWARE", "HOUSTON", ",", "TEXAS", "-", "October", "26", ",", "2016", "-", "Yuma", "Energy", ",", "Inc", ".", "(", "NYSE", "MKT", ":", "YUMA", ")", "(", "\"", "Yuma", "\"", ")", "announced", "today", "that", "its", "stockholders", "and", "the", "stockholders", "of", "Davis", "Petroleum", "Acquisition", ",", "Inc", ".", "have", "approved", "the", "merger", "of", "the", "two", "companies", "and", "all", "of", "the", "other", "approvals", "relating", "to", "the", "merger", ",", "including", "re", "incorporation", "of", "Yuma", "in", "Delaware", ".", "Also", ",", "in", "connection", "with", "the", "merger", "and", "the", "stockholder", "approval", ",", "Yuma", "converted", "each", "share", "of", "its", "existing", "Series", "A", "Preferred", "Stock", "into", "35", "shares", "of", "common", "stock", ",", "and", "subsequently", "completed", "a", "1", "-", "for", "-", "20", "reverse", "split", "of", "its", "common", "stock", ".", "Computershare", ",", "the", "Company", "'s", "transfer", "agent", ",", "will", "mail", "letters", "of", "transmittal", "to", "all", "Yuma", "stockholders", "of", "record", "with", "instructions", "on", "how", "to", "deliver", "their", "stock", "certificates", "in", "connection", "with", "Yuma", "'s", "re", "incorporation", "into", "Delaware", ".", "Yuma", "stockholders", "should", "not", "surrender", "their", "stock", "certificates", "until", "they", "have", "completed", "their", "letter", "of", "transmittal", ".", "About", "Yuma", "Energy", ",", "Inc", ".", "Yuma", "Energy", ",", "Inc", ".", "is", "an", "independent", "Houston", "-", "based", "exploration", "and", "production", "company", "focused", "on", "acquiring", ",", "developing", "and", "exploring", "for", "conventional", "and", "unconventional", "oil", "and", "natural", "gas", "resources", ",", "primarily", "in", "the", "U", ".", "S", ".", "Gulf", "Coast", "and", "California", ".", "Yuma", "has", "employed", "a", "3", "-", "D", "seismic", "-", "based", "strategy", "to", "build", "a", "multi", "-", "year", "inventory", "of", "development", "and", "exploration", "prospects", ".", "Yuma", "'s", "operations", "are", "currently", "focused", "on", "onshore", "properties", "located", "in", "central", "and", "southern", "Louisiana", ",", "where", "it", "is", "targeting", "the", "Austin", "Chalk", ",", "Tuscaloosa", ",", "Wilcox", ",", "Frio", ",", "Marg", "Tex", "and", "Hackberry", "formations", ".", "In", "addition", ",", "Yuma", "has", "a", "non", "-", "operated", "position", "in", "the", "Bakken", "Shale", "in", "North", "Dakota", "and", "operated", "positions", "in", "Kern", "and", "Santa", "Barbara", "Counties", "in", "California", ".", "Yuma", "'s", "common", "stock", "is", "traded", "on", "the", "NYSE", "MKT", "under", "the", "trading", "symbol", "\"", "YUMA", ".", "\"", "For", "more", "information", "about", "Yuma", "Energy", ",", "Inc", ".", ",", "please", "visit", "Yuma", "'s", "website", "at", "www.yumaenergyinc.com", ".", "Forward", "-", "Looking", "Statements", "This", "release", "contains", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "Section", "27A", "of", "the", "Securities", "Act", "of", "1933", ",", "as", "amended", "(", "the", "\"", "Securities", "Act", "\"", ")", ",", "and", "Section", "21E", "of", "the", "Securities", "Exchange", "Act", "of", "1934", ",", "as", "amended", "(", "the", "\"", "Exchange", "Act", "\"", ")", ".", "Statements", "that", "are", "not", "strictly", "historical", "statements", "constitute", "forward", "-", "looking", "statements", "and", "may", "often", ",", "but", "not", "always", ",", "be", "identified", "by", "the", "use", "of", "such", "words", "such", "as", "\"", "expects", "\"", ",", "\"", "believes", "\"", ",", "\"", "intends", ",", "\"", "\"", "anticipates", "\"", ",", "\"", "plans", "\"", ",", "\"", "estimates", "\"", ",", "\"", "potential", "\"", ",", "\"", "possible", "\"", ",", "or", "\"", "probable", "\"", "or", "statements", "that", "certain", "actions", ",", "events", "or", "results", "\"", "may", "\"", ",", "\"", "will", "\"", ",", "\"", "should", "\"", ",", "or", "\"", "could", "\"", "be", "taken", ",", "occur", "or", "be", "achieved", ".", "The", "forward", "-", "looking", "statements", "include", "statements", "about", "future", "operations", ",", "estimates", "of", "reserve", "and", "production", "volumes", ",", "and", "the", "anticipated", "timing", "for", "closing", "the", "proposed", "merger", ".", "Forward", "-", "looking", "statements", "are", "based", "on", "current", "expectations", "and", "assumptions", "and", "analyses", "made", "by", "Yuma", "in", "light", "of", "experience", "and", "perception", "of", "historical", "trends", ",", "current", "conditions", "and", "expected", "future", "developments", ",", "as", "well", "as", "other", "factors", "appropriate", "under", "the", "circumstances", ".", "However", ",", "whether", "actual", "results", "and", "developments", "will", "conform", "with", "expectations", "is", "subject", "to", "a", "number", "of", "risks", "and", "uncertainties", ",", "including", "but", "not", "limited", "to", ":", "problems", "may", "arise", "in", "the", "integration", "of", "the", "operations", "of", "Yuma", "and", "Davis", "Petroleum", "Acquisition", "Corp", ".", ";", "the", "risks", "of", "exploration", "and", "production", "segment", "of", "the", "oil", "and", "gas", "industry", "(", "for", "example", ",", "operational", "risks", "in", "exploring", "for", ",", "developing", "and", "producing", "crude", "oil", "and", "natural", "gas", ")", ";", "risks", "and", "uncertainties", "involving", "geology", "of", "oil", "and", "gas", "deposits", ";", "the", "uncertainty", "of", "reserve", "estimates", ";", "revisions", "to", "reserve", "estimates", "as", "a", "result", "of", "changes", "in", "commodity", "prices", ";", "the", "uncertainty", "of", "estimates", "and", "projections", "relating", "to", "future", "production", ",", "costs", "and", "expenses", ";", "potential", "delays", "or", "changes", "in", "plans", "with", "respect", "to", "exploration", "or", "development", "projects", "or", "capital", "expenditures", ";", "health", ",", "safety", "and", "environmental", "risks", "and", "risks", "related", "to", "weather", ";", "declines", "in", "oil", "and", "gas", "prices", ";", "inability", "of", "management", "to", "execute", "its", "plans", "to", "meet", "its", "goals", ",", "shortages", "of", "drilling", "equipment", ",", "oil", "field", "personnel", "and", "services", ";", "unavailability", "of", "gathering", "systems", ",", "pipelines", "and", "processing", "facilities", ";", "and", "the", "possibility", "that", "government", "policies", "may", "change", ".", "Yuma", "'s", "annual", "report", "on", "Form", "10", "-", "K", "/", "A", "for", "the", "year", "ended", "December", "31", ",", "2015", ",", "quarterly", "reports", "on", "Form", "10", "-", "Q", ",", "recent", "current", "reports", "on", "Form", "8", "-", "K", ",", "and", "other", "Securities", "and", "Exchange", "Commission", "(", "\"", "SEC", "\"", ")", "filings", "discuss", "some", "of", "the", "important", "risk", "factors", "identified", "that", "may", "affect", "Yuma", "'s", "business", ",", "results", "of", "operations", ",", "and", "financial", "condition", ".", "Yuma", "undertakes", "no", "obligation", "to", "revise", "or", "update", "publicly", "any", "forward", "-", "looking", "statements", ",", "except", "as", "required", "by", "law", ".", "For", "more", "information", ",", "please", "contact", ":", "James", "J", ".", "Jacobs", "Treasurer", "and", "Chief", "Financial", "Officer", "Yuma", "Energy", ",", "Inc", ".", "1177", "West", "Loop", "South", ",", "Suite", "1825", "Houston", ",", "Texas", "77027", "Telephone", ":", "(", "713", ")", "968", "-", "7000" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
755806-000110465906028514-a06-10673_1ex99d2
EX-99.2 5 a06-10673_1ex99d2.htm EX-99 Exhibit 99.2 NeoRx Closes $65 Million Financing Transaction - Nicholas J. Simon Joins Board of Directors - SEATTLE (April 27, 2006) - NeoRx Corporation (NASDAQ:NERX) today announced that it has completed its previously announced $65 million private placement of common stock and warrants to a group of investors led by MPM Capital and other investors, including Bay City Capital, Deerfield Management Company, Abingworth and funds managed by T. Rowe Price Associates, Inc. The Company also announced that, concurrent with closing of the financing, Nicholas J. Simon, representing MPM Capital, was appointed to NeoRx's board of directors, bringing the size of the board to nine members. In addition, it was announced that Alan Glassberg, M.D., will be joining the Company in an executive capacity later this year and, therefore, will not stand for reelection as a director at the Company's annual meeting of shareholders to be held on June 16, 2006. "This financing is a significant milestone for NeoRx because it represents an acknowledgement of the potential of picoplatin and provides us with resources to advance our picoplatin development program for small cell lung and other solid tumors", said Jerry McMahon, Ph.D., chairman and chief executive officer of NeoRx. "The financing also enables us to pursue our strategic objective of building a diverse pipeline and repositioning the company as a specialty pharmaceutical company focused on oncology". Picoplatin, the Company's lead product candidate, is a new generation platinum therapy that provides a differentiated spectrum of activity, reduced reactivity and an improved safety profile. An intravenous chemotherapeutic agent, picoplatin is designed to overcome platinum resistance associated with the treatment of solid tumors. In addition, testing in more than 500 patients in Phase 1 and 2 safety and efficacy studies indicated that picoplatin has a more manageable safety profile with fewer side effects than currently available platinum-based therapies. NeoRx initiated a Phase 2 clinical trial of picoplatin in small cell lung cancer in North America last year and recently announced the expansion of this trial into selected Eastern European countries. The Company plans to initiate mid-stage trials in other cancer types later this year. Appointment of Nicholas J. Simon as Director Mr. Simon has served as a general partner of MPM BioVentures III since October 2001. He has been a managing director of Clarus Ventures, LLC, a life sciences focused venture capital firm, since February 2005. Mr. Simon has more than 26 years of industry and investment experience in biotechnology. From 2000 to July 2001, he was chief executive officer, founder and a director of Collabra Pharma, Inc., a pharmaceutical development company. From 1989 to 2000, Mr. Simon served in various management positions at Genentech, Inc., including vice president of business and corporate development. Mr. Simon currently serves on the boards of directors of Barrier Therapeutics, Inc. and CoTherix, Inc., both public biotechnology companies. In addition, he is a director of ARYx Therapeutics, Inc., NeoSil Incorporated, QuatRx Pharmaceuticals Co. and Verus Pharmaceuticals, Inc., which are private biotechnology companies. He also is on the advisory council at the Gladstone Institute, a private not-for-profit research institute affiliated with the University of California San Francisco. Mr. Simon received a B.S. degree in microbiology from the University of Maryland and an M.B.A. in marketing from Loyola University. "Nick is an outstanding addition to our board," said Dr. McMahon. "His real-life experience and comprehensive knowledge of the biotech industry will provide us with critical insights as we work to move picoplatin through development into commercialization and pursue strategic opportunities to diversify our oncology pipeline. Further, we are grateful for Dr. Glassberg's service on the board and are thrilled that he will be joining our executive management team later this year". Private Placement Financing The Company previously announced that it had entered into a definitive agreement dated as of February 1, 2006, subject to certain closing and other conditions, for a $65 million private placement of shares of common stock and warrants to the investors. Conditions to consummating the private placement included obtaining shareholder approval of the terms of the securities financing and related transactions and of the filing of an amendment of the Company's articles of incorporation to increase the authorized common stock of the Company to 200,000,000 shares. The Company's shareholder's approved the terms of the securities financing and the amendment to increase the Company's authorized common shares at a special meeting of shareholders held on April 25, 2006. The remaining conditions necessary to consummation of the financing, including the conversion of the Company's outstanding shares of Series B convertible preferred stock, were subsequently satisfied and the closing occurred effective as of April 26, 2006. About NeoRx NeoRx is a specialty pharmaceutical company dedicated to the discovery, development and commercialization of oncology drugs that impact the lives of individuals afflicted with cancer. The Company currently is focusing its development efforts on picoplatin, a new generation platinum therapy that provides a differentiated spectrum of activity, reduced reactivity and an improved safety profile. An intravenous chemotherapeutic, picoplatin is designed to overcome multiple mechanisms of platinum-based chemoresistance. NeoRx also is collaborating with the Scripps Florida Research Institute on the discovery of novel, small-molecule, multi-targeted protein kinase inhibitors for the treatment of cancer. For more information, visit www.neorx.com. This release contains forward-looking statements, including statements regarding the Company's business model, drug development programs and clinical trial plans. The Company's actual results may differ materially from those indicated in these forward looking statements based on a number of factors, including anticipated operating losses, uncertainties associated with research, development, testing and related regulatory approvals, future capital needs and uncertainty of additional financing, competition, uncertainties associated with intellectual property, dependence on third-party manufacturers, suppliers and collaborators, lack of sales and marketing experience, loss of key personnel, uncertainties associated with market acceptance, technology change and government regulation, and the other risks and uncertainties described in the Company's current and periodic reports filed with the Securities and Exchange Commission, including NeoRx's Annual Report on Form 10-K for the year ended December 31, 2005. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update any 2 forward-looking statement to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. © 2006 NeoRx Corporation. All Rights Reserved. For Further Information: Julie Rathbun Corporate Communications NeoRx Corporation 300 Elliott Avenue West, Suite 500 Seattle, WA 98119 206-286-2517 [email protected] # # # 3
[ "EX", "-", "99", ".", "2", "5", "a06", "-", "10673", "_", "1ex99d2", ".", "htm", "EX", "-", "99", "Exhibit", "99", ".", "2", "NeoRx", "Closes", "$", "65 Million", "Financing", "Transaction", "-", "Nicholas", "J", ".", "Simon", "Joins", "Board", "of", "Directors", "-", "SEATTLE", "(", "April", "27", ",", "2006", ")", "-", "NeoRx", "Corporation", "(", "NASDAQ", ":", "NERX", ")", "today", "announced", "that", "it", "has", "completed", "its", "previously", "announced", "$", "65 million", "private", "placement", "of", "common", "stock", "and", "warrants", "to", "a", "group", "of", "investors", "led", "by", "MPM", "Capital", "and", "other", "investors", ",", "including", "Bay", "City", "Capital", ",", "Deerfield", "Management", "Company", ",", "Abingworth", "and", "funds", "managed", "by", "T", ".", "Rowe", "Price", "Associates", ",", "Inc", ".", "The", "Company", "also", "announced", "that", ",", "concurrent", "with", "closing", "of", "the", "financing", ",", "Nicholas", "J", ".", "Simon", ",", "representing", "MPM", "Capital", ",", "was", "appointed", "to", "NeoRx", "'s", "board", "of", "directors", ",", "bringing", "the", "size", "of", "the", "board", "to", "nine", "members", ".", "In", "addition", ",", "it", "was", "announced", "that", "Alan", "Glassberg", ",", "M", ".", "D", ".", ",", "will", "be", "joining", "the", "Company", "in", "an", "executive", "capacity", "later", "this", "year", "and", ",", "therefore", ",", "will", "not", "stand", "for", "reelection", "as", "a", "director", "at", "the", "Company", "'s", "annual", "meeting", "of", "shareholders", "to", "be", "held", "on", "June", "16", ",", "2006", ".", "\"", "This", "financing", "is", "a", "significant", "milestone", "for", "NeoRx", "because", "it", "represents", "an", "acknowledgement", "of", "the", "potential", "of", "picoplatin", "and", "provides", "us", "with", "resources", "to", "advance", "our", "picoplatin", "development", "program", "for", "small", "cell", "lung", "and", "other", "solid", "tumors", "\"", ",", "said", "Jerry", "McMahon", ",", "Ph", ".", "D", ".", ",", "chairman", "and", "chief", "executive", "officer", "of", "NeoRx", ".", "\"", "The", "financing", "also", "enables", "us", "to", "pursue", "our", "strategic", "objective", "of", "building", "a", "diverse", "pipeline", "and", "repositioning", "the", "company", "as", "a", "specialty", "pharmaceutical", "company", "focused", "on", "oncology", "\"", ".", "Picoplatin", ",", "the", "Company", "'s", "lead", "product", "candidate", ",", "is", "a", "new", "generation", "platinum", "therapy", "that", "provides", "a", "differentiated", "spectrum", "of", "activity", ",", "reduced", "reactivity", "and", "an", "improved", "safety", "profile", ".", "An", "intravenous", "chemotherapeutic", "agent", ",", "picoplatin", "is", "designed", "to", "overcome", "platinum", "resistance", "associated", "with", "the", "treatment", "of", "solid", "tumors", ".", "In", "addition", ",", "testing", "in", "more", "than", "500", "patients", "in", "Phase", "1", "and", "2", "safety", "and", "efficacy", "studies", "indicated", "that", "picoplatin", "has", "a", "more", "manageable", "safety", "profile", "with", "fewer", "side", "effects", "than", "currently", "available", "platinum", "-", "based", "therapies", ".", "NeoRx", "initiated", "a", "Phase", "2", "clinical", "trial", "of", "picoplatin", "in", "small", "cell", "lung", "cancer", "in", "North", "America", "last", "year", "and", "recently", "announced", "the", "expansion", "of", "this", "trial", "into", "selected", "Eastern", "European", "countries", ".", "The", "Company", "plans", "to", "initiate", "mid", "-", "stage", "trials", "in", "other", "cancer", "types", "later", "this", "year", ".", "Appointment", "of", "Nicholas", "J", ".", "Simon", "as", "Director", "Mr", ".", "Simon", "has", "served", "as", "a", "general", "partner", "of", "MPM", "BioVentures", "III", "since", "October", "2001", ".", "He", "has", "been", "a", "managing", "director", "of", "Clarus", "Ventures", ",", "LLC", ",", "a", "life", "sciences", "focused", "venture", "capital", "firm", ",", "since", "February", "2005", ".", "Mr", ".", "Simon", "has", "more", "than", "26", "years", "of", "industry", "and", "investment", "experience", "in", "biotechnology", ".", "From", "2000", "to", "July", "2001", ",", "he", "was", "chief", "executive", "officer", ",", "founder", "and", "a", "director", "of", "Collabra", "Pharma", ",", "Inc", ".", ",", "a", "pharmaceutical", "development", "company", ".", "From", "1989", "to", "2000", ",", "Mr", ".", "Simon", "served", "in", "various", "management", "positions", "at", "Genentech", ",", "Inc", ".", ",", "including", "vice", "president", "of", "business", "and", "corporate", "development", ".", "Mr", ".", "Simon", "currently", "serves", "on", "the", "boards", "of", "directors", "of", "Barrier", "Therapeutics", ",", "Inc", ".", "and", "CoTherix", ",", "Inc", ".", ",", "both", "public", "biotechnology", "companies", ".", "In", "addition", ",", "he", "is", "a", "director", "of", "ARYx", "Therapeutics", ",", "Inc", ".", ",", "NeoSil", "Incorporated", ",", "QuatRx", "Pharmaceuticals", "Co", ".", "and", "Verus", "Pharmaceuticals", ",", "Inc", ".", ",", "which", "are", "private", "biotechnology", "companies", ".", "He", "also", "is", "on", "the", "advisory", "council", "at", "the", "Gladstone", "Institute", ",", "a", "private", "not", "-", "for", "-", "profit", "research", "institute", "affiliated", "with", "the", "University", "of", "California", "San", "Francisco", ".", "Mr", ".", "Simon", "received", "a", "B", ".", "S", ".", "degree", "in", "microbiology", "from", "the", "University", "of", "Maryland", "and", "an", "M", ".", "B", ".", "A", ".", "in", "marketing", "from", "Loyola", "University", ".", "\"", "Nick", "is", "an", "outstanding", "addition", "to", "our", "board", ",", "\"", "said", "Dr", ".", "McMahon", ".", "\"", "His", "real", "-", "life", "experience", "and", "comprehensive", "knowledge", "of", "the", "biotech", "industry", "will", "provide", "us", "with", "critical", "insights", "as", "we", "work", "to", "move", "picoplatin", "through", "development", "into", "commercialization", "and", "pursue", "strategic", "opportunities", "to", "diversify", "our", "oncology", "pipeline", ".", "Further", ",", "we", "are", "grateful", "for", "Dr", ".", "Glassberg", "'s", "service", "on", "the", "board", "and", "are", "thrilled", "that", "he", "will", "be", "joining", "our", "executive", "management", "team", "later", "this", "year", "\"", ".", "Private", "Placement", "Financing", "The", "Company", "previously", "announced", "that", "it", "had", "entered", "into", "a", "definitive", "agreement", "dated", "as", "of", "February", "1", ",", "2006", ",", "subject", "to", "certain", "closing", "and", "other", "conditions", ",", "for", "a", "$", "65 million", "private", "placement", "of", "shares", "of", "common", "stock", "and", "warrants", "to", "the", "investors", ".", "Conditions", "to", "consummating", "the", "private", "placement", "included", "obtaining", "shareholder", "approval", "of", "the", "terms", "of", "the", "securities", "financing", "and", "related", "transactions", "and", "of", "the", "filing", "of", "an", "amendment", "of", "the", "Company", "'s", "articles", "of", "incorporation", "to", "increase", "the", "authorized", "common", "stock", "of", "the", "Company", "to", "200,000,000", "shares", ".", "The", "Company", "'s", "shareholder", "'", "s", "approved", "the", "terms", "of", "the", "securities", "financing", "and", "the", "amendment", "to", "increase", "the", "Company", "'", "s", "authorized", "common", "shares", "at", "a", "special", "meeting", "of", "shareholders", "held", "on", "April", "25", ",", "2006", ".", "The", "remaining", "conditions", "necessary", "to", "consummation", "of", "the", "financing", ",", "including", "the", "conversion", "of", "the", "Company", "'s", "outstanding", "shares", "of", "Series", "B", "convertible", "preferred", "stock", ",", "were", "subsequently", "satisfied", "and", "the", "closing", "occurred", "effective", "as", "of", "April", "26", ",", "2006", ".", "About", "NeoRx", "NeoRx", "is", "a", "specialty", "pharmaceutical", "company", "dedicated", "to", "the", "discovery", ",", "development", "and", "commercialization", "of", "oncology", "drugs", "that", "impact", "the", "lives", "of", "individuals", "afflicted", "with", "cancer", ".", "The", "Company", "currently", "is", "focusing", "its", "development", "efforts", "on", "picoplatin", ",", "a", "new", "generation", "platinum", "therapy", "that", "provides", "a", "differentiated", "spectrum", "of", "activity", ",", "reduced", "reactivity", "and", "an", "improved", "safety", "profile", ".", "An", "intravenous", "chemotherapeutic", ",", "picoplatin", "is", "designed", "to", "overcome", "multiple", "mechanisms", "of", "platinum", "-", "based", "chemoresistance", ".", "NeoRx", "also", "is", "collaborating", "with", "the", "Scripps", "Florida", "Research", "Institute", "on", "the", "discovery", "of", "novel", ",", "small", "-", "molecule", ",", "multi", "-", "targeted", "protein", "kinase", "inhibitors", "for", "the", "treatment", "of", "cancer", ".", "For", "more", "information", ",", "visit", "www.neorx.com", ".", "This", "release", "contains", "forward", "-", "looking", "statements", ",", "including", "statements", "regarding", "the", "Company", "'s", "business", "model", ",", "drug", "development", "programs", "and", "clinical", "trial", "plans", ".", "The", "Company", "'s", "actual", "results", "may", "differ", "materially", "from", "those", "indicated", "in", "these", "forward", "looking", "statements", "based", "on", "a", "number", "of", "factors", ",", "including", "anticipated", "operating", "losses", ",", "uncertainties", "associated", "with", "research", ",", "development", ",", "testing", "and", "related", "regulatory", "approvals", ",", "future", "capital", "needs", "and", "uncertainty", "of", "additional", "financing", ",", "competition", ",", "uncertainties", "associated", "with", "intellectual", "property", ",", "dependence", "on", "third", "-", "party", "manufacturers", ",", "suppliers", "and", "collaborators", ",", "lack", "of", "sales", "and", "marketing", "experience", ",", "loss", "of", "key", "personnel", ",", "uncertainties", "associated", "with", "market", "acceptance", ",", "technology", "change", "and", "government", "regulation", ",", "and", "the", "other", "risks", "and", "uncertainties", "described", "in", "the", "Company", "'s", "current", "and", "periodic", "reports", "filed", "with", "the", "Securities", "and", "Exchange", "Commission", ",", "including", "NeoRx", "'s", "Annual", "Report", "on", "Form", "10", "-", "K", "for", "the", "year", "ended", "December", "31", ",", "2005", ".", "Readers", "are", "cautioned", "not", "to", "place", "undue", "reliance", "on", "these", "forward", "-", "looking", "statements", ",", "which", "speak", "only", "as", "of", "the", "date", "of", "this", "release", ".", "The", "Company", "undertakes", "no", "obligation", "to", "update", "any", "2", "forward", "-", "looking", "statement", "to", "reflect", "new", "information", ",", "events", "or", "circumstances", "after", "the", "date", "of", "this", "release", "or", "to", "reflect", "the", "occurrence", "of", "unanticipated", "events", ".", "©", "2006", "NeoRx", "Corporation", ".", "All", "Rights", "Reserved", ".", "For", "Further", "Information", ":", "Julie", "Rathbun", "Corporate", "Communications", "NeoRx", "Corporation", "300", "Elliott", "Avenue", "West", ",", "Suite", "500", "Seattle", ",", "WA", "98119", "206", "-", "286", "-", "2517", "[email protected]", "#", "#", "#", "3" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
731122-000089322008002132-w63838exv99w1
EX-99.1 3 w63838exv99w1.htm PRESS RELEASE exv99w1 Exhibit 99.1 FOR IMMEDIATE RELEASE JULY 18, 2008 CONTACT: Michelle Karas 570-387-7174 [email protected] CCFNB BANCORP, INC. AND COLUMBIA FINANCIAL CORPORATION COMPLETE MERGER OF EQUALS BLOOMSBURG, PENNSYLVANIA - July 18, 2008 - CCFNB Bancorp, Inc. (OTCBB: CCFN), announced today that it has completed its merger of equals with Columbia Financial Corporation, the holding company for First Columbia Bank & Trust Co. As a result of the merger, CCFNB Bancorp, Inc. will have total assets of approximately $570 million, and create the second largest independent publicly traded bank holding company headquartered in the four county region of Columbia, Montour, Northumberland, and Luzerne Counties. The resulting holding company will remain CCFNB Bancorp, Inc., and the resulting bank will remain First Columbia Bank & Trust Co. CCFNB common stock will continue to trade under the CCFN symbol and be quoted on the OTC Bulletin Board. Under the terms of the merger agreement, former Columbia Financial Corporation shareholders will receive 0.72 shares of CCFNB Bancorp, Inc. common stock for each share of Columbia Financial common stock that they own. Former Columbia Financial shareholders will be receiving letters of transmittal regarding the procedures for the exchange of share certificates in the near future. "We are grateful for the patience and support our shareholders, customers and employees have given us during this period of transition which began with our announcement to join forces in November 2007", said Lance O. Diehl, President and Chief Executive Officer of the combined organization. "With the integration of these two customer and community focused financial institutions, we have positioned ourselves to provide more lending opportunities and a wider array of products and services". Glenn E. Halterman, Chairman, commented, "Today marks the beginning of a new First Columbia Bank & Trust Co. As a combined organization, we will achieve greater positive results for our shareholders, customers, communities and employees". About the Company CCFNB Bancorp, Inc. is a financial holding company, headquartered in Bloomsburg, Pennsylvania. It is the parent company of First Columbia Bank & Trust Co., a full service community commercial bank with 14 branches located in Columbia, Northumberland, and Luzerne Counties. First Columbia engages in a full line of personal, business and municipal financial services and alternative investment products, including, under full trust powers, a complete line of corporate and personal fiduciary services. Website: www.firstcolumbiabank.com Contacts: Lance O. Diehl, President and Chief Executive Officer, CCFNB Bancorp, Inc. and First Columbia Bank & Trust Co., 570-387-3464 Michelle M. Karas, Vice President and Marketing Director, First Columbia Bank & Trust Co., 570-387-7174 Forward Looking Statements Certain statements contained herein may be considered "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based upon the belief of the management of CCFNB Bancorp, Inc. (CCFNB), and may be, but not necessarily are, identified by such words as "expect", "plan", "anticipate", "target", "forecast", and "goal". Because such "forward-looking statements" are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from CCFNB's expectations include, but not limited to, changes in monetary and fiscal policies of the Federal Reserve Board and the U.S. Government, particularly related to changes in interest rates, changes in general economic conditions, legislative or regulatory changes, downturn in the demand for loan, deposit and other financial services in First Columbia Bank & Trust Co.'s market areas, increased competition from other banks and non-bank providers of financial services, technological changes and increased technology-related costs, changes in accounting principles, or the application of generally accepted accounting principles and other similar outside influences including those detailed in CCFNB's filings with the Securities and Exchange Commission. Except as otherwise stated in this news announcement, CCFNB assumes no obligation to update publicly or revise any forward-looking statements because of new information, future events or otherwise. ###
[ "EX", "-", "99", ".", "1", "3", "w63838exv99w1", ".", "htm", "PRESS", "RELEASE", "exv99w1", "Exhibit", "99", ".", "1", "FOR", "IMMEDIATE", "RELEASE", "JULY", "18", ",", "2008", "CONTACT", ":", "Michelle", "Karas", "570", "-", "387", "-", "7174", "[email protected]", "CCFNB", "BANCORP", ",", "INC", ".", "AND", "COLUMBIA", "FINANCIAL", "CORPORATION", "COMPLETE", "MERGER", "OF", "EQUALS", "BLOOMSBURG", ",", "PENNSYLVANIA", "-", "July", "18", ",", "2008", "-", "CCFNB", "Bancorp", ",", "Inc", ".", "(", "OTCBB", ":", "CCFN", ")", ",", "announced", "today", "that", "it", "has", "completed", "its", "merger", "of", "equals", "with", "Columbia", "Financial", "Corporation", ",", "the", "holding", "company", "for", "First", "Columbia", "Bank", "&", "Trust", "Co", ".", "As", "a", "result", "of", "the", "merger", ",", "CCFNB", "Bancorp", ",", "Inc", ".", "will", "have", "total", "assets", "of", "approximately", "$", "570 million", ",", "and", "create", "the", "second", "largest", "independent", "publicly", "traded", "bank", "holding", "company", "headquartered", "in", "the", "four", "county", "region", "of", "Columbia", ",", "Montour", ",", "Northumberland", ",", "and", "Luzerne", "Counties", ".", "The", "resulting", "holding", "company", "will", "remain", "CCFNB", "Bancorp", ",", "Inc", ".", ",", "and", "the", "resulting", "bank", "will", "remain", "First", "Columbia", "Bank", "&", "Trust", "Co", ".", "CCFNB", "common", "stock", "will", "continue", "to", "trade", "under", "the", "CCFN", "symbol", "and", "be", "quoted", "on", "the", "OTC", "Bulletin", "Board", ".", "Under", "the", "terms", "of", "the", "merger", "agreement", ",", "former", "Columbia", "Financial", "Corporation", "shareholders", "will", "receive", "0", ".", "72", "shares", "of", "CCFNB", "Bancorp", ",", "Inc", ".", "common", "stock", "for", "each", "share", "of", "Columbia", "Financial", "common", "stock", "that", "they", "own", ".", "Former", "Columbia", "Financial", "shareholders", "will", "be", "receiving", "letters", "of", "transmittal", "regarding", "the", "procedures", "for", "the", "exchange", "of", "share", "certificates", "in", "the", "near", "future", ".", "\"", "We", "are", "grateful", "for", "the", "patience", "and", "support", "our", "shareholders", ",", "customers", "and", "employees", "have", "given", "us", "during", "this", "period", "of", "transition", "which", "began", "with", "our", "announcement", "to", "join", "forces", "in", "November", "2007", "\"", ",", "said", "Lance", "O", ".", "Diehl", ",", "President", "and", "Chief", "Executive", "Officer", "of", "the", "combined", "organization", ".", "\"", "With", "the", "integration", "of", "these", "two", "customer", "and", "community", "focused", "financial", "institutions", ",", "we", "have", "positioned", "ourselves", "to", "provide", "more", "lending", "opportunities", "and", "a", "wider", "array", "of", "products", "and", "services", "\"", ".", "Glenn", "E", ".", "Halterman", ",", "Chairman", ",", "commented", ",", "\"", "Today", "marks", "the", "beginning", "of", "a", "new", "First", "Columbia", "Bank", "&", "Trust", "Co", ".", "As", "a", "combined", "organization", ",", "we", "will", "achieve", "greater", "positive", "results", "for", "our", "shareholders", ",", "customers", ",", "communities", "and", "employees", "\"", ".", "About", "the", "Company", "CCFNB", "Bancorp", ",", "Inc", ".", "is", "a", "financial", "holding", "company", ",", "headquartered", "in", "Bloomsburg", ",", "Pennsylvania", ".", "It", "is", "the", "parent", "company", "of", "First", "Columbia", "Bank", "&", "Trust", "Co", ".", ",", "a", "full", "service", "community", "commercial", "bank", "with", "14", "branches", "located", "in", "Columbia", ",", "Northumberland", ",", "and", "Luzerne", "Counties", ".", "First", "Columbia", "engages", "in", "a", "full", "line", "of", "personal", ",", "business", "and", "municipal", "financial", "services", "and", "alternative", "investment", "products", ",", "including", ",", "under", "full", "trust", "powers", ",", "a", "complete", "line", "of", "corporate", "and", "personal", "fiduciary", "services", ".", "Website", ":", "www.firstcolumbiabank.com", "Contacts", ":", "Lance", "O", ".", "Diehl", ",", "President", "and", "Chief", "Executive", "Officer", ",", "CCFNB", "Bancorp", ",", "Inc", ".", "and", "First", "Columbia", "Bank", "&", "Trust", "Co", ".", ",", "570", "-", "387", "-", "3464", "Michelle", "M.", "Karas", ",", "Vice", "President", "and", "Marketing", "Director", ",", "First", "Columbia", "Bank", "&", "Trust", "Co", ".", ",", "570", "-", "387", "-", "7174", "Forward", "Looking", "Statements", "Certain", "statements", "contained", "herein", "may", "be", "considered", "\"", "forward", "-", "looking", "statements", "\"", "as", "defined", "in", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "These", "statements", "are", "based", "upon", "the", "belief", "of", "the", "management", "of", "CCFNB", "Bancorp", ",", "Inc", ".", "(", "CCFNB", ")", ",", "and", "may", "be", ",", "but", "not", "necessarily", "are", ",", "identified", "by", "such", "words", "as", "\"", "expect", "\"", ",", "\"", "plan", "\"", ",", "\"", "anticipate", "\"", ",", "\"", "target", "\"", ",", "\"", "forecast", "\"", ",", "and", "\"", "goal", "\"", ".", "Because", "such", "\"", "forward", "-", "looking", "statements", "\"", "are", "subject", "to", "risks", "and", "uncertainties", ",", "actual", "results", "may", "differ", "materially", "from", "those", "expressed", "or", "implied", "by", "such", "forward", "-", "looking", "statements", ".", "Factors", "that", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "CCFNB", "'s", "expectations", "include", ",", "but", "not", "limited", "to", ",", "changes", "in", "monetary", "and", "fiscal", "policies", "of", "the", "Federal", "Reserve", "Board", "and", "the", "U", ".", "S", ".", "Government", ",", "particularly", "related", "to", "changes", "in", "interest", "rates", ",", "changes", "in", "general", "economic", "conditions", ",", "legislative", "or", "regulatory", "changes", ",", "downturn", "in", "the", "demand", "for", "loan", ",", "deposit", "and", "other", "financial", "services", "in", "First", "Columbia", "Bank", "&", "Trust", "Co", ".", "'s", "market", "areas", ",", "increased", "competition", "from", "other", "banks", "and", "non", "-", "bank", "providers", "of", "financial", "services", ",", "technological", "changes", "and", "increased", "technology", "-", "related", "costs", ",", "changes", "in", "accounting", "principles", ",", "or", "the", "application", "of", "generally", "accepted", "accounting", "principles", "and", "other", "similar", "outside", "influences", "including", "those", "detailed", "in", "CCFNB", "'s", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", ".", "Except", "as", "otherwise", "stated", "in", "this", "news", "announcement", ",", "CCFNB", "assumes", "no", "obligation", "to", "update", "publicly", "or", "revise", "any", "forward", "-", "looking", "statements", "because", "of", "new", "information", ",", "future", "events", "or", "otherwise", ".", "#", "#", "#" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1610466-000119312520095372-d863341dex991
EX-99.1 3 d863341dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Shell Midstream Partners, L.P. Closes on Previously Announced Transactions and Announces Updated Guidance HOUSTON, April 2, 2020 - Shell Midstream Partners, L.P. (NYSE: SHLX) (the "Partnership" or "SHLX") today announced that on April 1, 2020 it closed the transactions contemplated by the previously announced Restructuring Agreement with its general partner to eliminate all incentive distribution rights ("IDRs") and general partner ("GP") economic interests in SHLX. SHLX has also closed the transactions contemplated by the previously announced Purchase and Sale Agreement with affiliates of its sponsor, Royal Dutch Shell plc ("Shell"), under which it acquired (i) Shell's 79% interest in Mattox Pipeline Company LLC, which owns the Mattox Pipeline, and (ii) certain logistics assets at the Shell Norco Manufacturing Complex. As consideration for the assets and the elimination of IDRs and the GP economic interests, the sponsor received 160 million newly issued SHLX common units, plus $1.2 billion of Series A perpetual convertible preferred units at a price of $23.63 per unit. Further, in response to the current extraordinary and volatile market conditions resulting in lower demand across our assets, the Partnership is providing the following updates related to the 2020 guidance it previously provided in its press release dated February 28, 2020 (the "prior press release"): . The Partnership currently intends to maintain its existing distribution policy of $0.46 per common unit per quarter for 2020 and plans to access its credit facilities if needed to make up for any operational cash shortfalls. . With the unprecedented impacts of the global COVID-19 pandemic and resulting lack of clarity on crude and finished products supply and demand, the Partnership is withdrawing the guidance that was provided in the prior press release regarding its estimated coverage ratio for 2020. SHLX continues to monitor the volatile business environment and will provide further updates on its 1Q 2020 conference call with analysts and investors, the planned details of which can be found below. . The Partnership's available liquidity as of March 31, 2020 is estimated to be approximately $1.2 billion, and SHLX does not expect to have any near-term need to access the capital markets for debt or equity. Additionally, SHLX has no scheduled near-term maturities of its senior notes or credit facilities, with the earliest scheduled maturity in 2022. . SHLX expects to announce its earnings for the first quarter of 2020 on Thursday, May 7, 2020, before the New York Stock Exchange opens for trading. Following the announcement, the Partnership intends to host a conference call at 10:00 a.m. CDT with analysts and investors. Interested parties may listen to the conference call on the Partnership's website at www.shellmidstreampartners.com by clicking on the link titled "2020 First Quarter Financial Results" in the "Events & Conferences" section of the website. A replay of the webcast will be posted on the Partnership's website following the event. SHLX remains focused on the health and safety of its people, customers, vendors, partners and the broader community as the Partnership's top priority during the global COVID-19 pandemic. The Partnership has implemented pandemic response and business continuity plans to prevent illness and provide reliable and safe operations, while maintaining regular communication with customers. ABOUT SHELL MIDSTREAM PARTNERS, L.P. Shell Midstream Partners, L.P., headquartered in Houston, Texas, owns, operates, develops and acquires pipelines and other midstream and logistics assets. The Partnership's assets include interests in entities that own crude oil and refined products pipelines and terminals that serve as key infrastructure to (i) transport onshore and offshore crude oil production to Gulf Coast and Midwest refining markets, (ii) deliver refined products from those markets to major demand centers and (iii) storage tanks, docks, truck and rail racks and other infrastructure used to stage and transport intermediate and finished products. The Partnership's assets also include interests in entities that own natural gas and refinery gas pipelines that transport offshore natural gas to market hubs and deliver refinery gas from refineries and plants to chemical sites along the Gulf Coast. For more information on Shell Midstream Partners, L.P. and the assets owned by the Partnership, please visit www.shellmidstreampartners.com. FORWARD LOOKING STATEMENTS This press release includes various "forward-looking statements" within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management's current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning management's expectations, beliefs, estimates, forecasts, projections and assumptions. You can identify our forward-looking statements by words such as "anticipate", "believe", "estimate", "budget", "continue", "potential", "guidance", "effort", "expect", "forecast", "goals", "objectives", "outlook", "intend", "plan", "predict", "project", "seek", "target", "begin", "could", "may", "should" or "would" or other similar expressions that convey the uncertainty of future events or outcomes. In accordance with "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, these statements are accompanied by cautionary language identifying important factors, though not necessarily all such factors, which could cause future outcomes to differ materially from those set forth in forward-looking statements. In particular, expressed or implied statements concerning future growth, future actions, the continued effects of the global COVID-19 pandemic on demand, the effects of the continued volatility of commodity prices and the related macroeconomic and political environment, future drop downs, volumes, capital requirements, conditions or events, future operating results or the ability to generate sales, the potential exposure of the Partnership to market risks, and statements relating to the expected amount of distributions, coverage ratios and expectations regarding not accessing the capital markets for debt or equity in the near-term are forward-looking statements. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future actions, conditions or events and future results of operations may differ materially from those expressed in these forward-looking statements. Forward-looking statements speak only as of the date of this press release, April 2, 2020, and we disclaim any obligation to update publicly or to revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. All forward-looking statements contained in this document are expressly qualified in their entirety by the cautionary statements contained or referred to in this paragraph. Many of the factors that will determine these results are beyond our ability to control or predict. More information on these risks and other potential factors that could affect the Partnership's financial results is included in the Partnership's filings with the U.S. Securities and Exchange Commission, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Partnership's most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. If any of those risks occur, it could cause our actual results to differ materially from those contained in any forward-looking statement. Because of these risks and uncertainties, you should not place undue reliance on any forward-looking statement. SHELL and the SHELL Pecten are registered trademarks of Shell Trademark Management, B.V. used under license. April 2, 2020 Inquiries: Shell Media Relations Americas: +1 832 337 4355 Shell Investor Relations North America: +1 832 337 2034
[ "EX", "-", "99", ".", "1", "3", "d863341dex991", ".", "htm", "EX", "-", "99", ".", "1", "EX", "-", "99", ".", "1", "Exhibit", "99", ".", "1", "Shell", "Midstream", "Partners", ",", "L", ".", "P", ".", "Closes", "on", "Previously", "Announced", "Transactions", "and", "Announces", "Updated", "Guidance", "HOUSTON", ",", "April", "2", ",", "2020", "-", "Shell", "Midstream", "Partners", ",", "L", ".", "P", ".", "(", "NYSE", ":", "SHLX", ")", "(", "the", "\"", "Partnership", "\"", "or", "\"", "SHLX", "\"", ")", "today", "announced", "that", "on", "April", "1", ",", "2020", "it", "closed", "the", "transactions", "contemplated", "by", "the", "previously", "announced", "Restructuring", "Agreement", "with", "its", "general", "partner", "to", "eliminate", "all", "incentive", "distribution", "rights", "(", "\"", "IDRs", "\"", ")", "and", "general", "partner", "(", "\"", "GP", "\"", ")", "economic", "interests", "in", "SHLX", ".", "SHLX", "has", "also", "closed", "the", "transactions", "contemplated", "by", "the", "previously", "announced", "Purchase", "and", "Sale", "Agreement", "with", "affiliates", "of", "its", "sponsor", ",", "Royal", "Dutch", "Shell", "plc", "(", "\"", "Shell", "\"", ")", ",", "under", "which", "it", "acquired", "(", "i", ")", "Shell", "'s", "79", "%", "interest", "in", "Mattox", "Pipeline", "Company", "LLC", ",", "which", "owns", "the", "Mattox", "Pipeline", ",", "and", "(", "ii", ")", "certain", "logistics", "assets", "at", "the", "Shell", "Norco", "Manufacturing", "Complex", ".", "As", "consideration", "for", "the", "assets", "and", "the", "elimination", "of", "IDRs", "and", "the", "GP", "economic", "interests", ",", "the", "sponsor", "received", "160", "million", "newly", "issued", "SHLX", "common", "units", ",", "plus", "$", "1.2 billion", "of", "Series", "A", "perpetual", "convertible", "preferred", "units", "at", "a", "price", "of", "$", "23.63", "per", "unit", ".", "Further", ",", "in", "response", "to", "the", "current", "extraordinary", "and", "volatile", "market", "conditions", "resulting", "in", "lower", "demand", "across", "our", "assets", ",", "the", "Partnership", "is", "providing", "the", "following", "updates", "related", "to", "the", "2020", "guidance", "it", "previously", "provided", "in", "its", "press", "release", "dated", "February", "28", ",", "2020", "(", "the", "\"", "prior", "press", "release", "\"", ")", ":", ".", "The", "Partnership", "currently", "intends", "to", "maintain", "its", "existing", "distribution", "policy", "of", "$", "0.46", "per", "common", "unit", "per", "quarter", "for", "2020", "and", "plans", "to", "access", "its", "credit", "facilities", "if", "needed", "to", "make", "up", "for", "any", "operational", "cash", "shortfalls", ".", ".", "With", "the", "unprecedented", "impacts", "of", "the", "global", "COVID", "-", "19", "pandemic", "and", "resulting", "lack", "of", "clarity", "on", "crude", "and", "finished", "products", "supply", "and", "demand", ",", "the", "Partnership", "is", "withdrawing", "the", "guidance", "that", "was", "provided", "in", "the", "prior", "press", "release", "regarding", "its", "estimated", "coverage", "ratio", "for", "2020", ".", "SHLX", "continues", "to", "monitor", "the", "volatile", "business", "environment", "and", "will", "provide", "further", "updates", "on", "its", "1Q", "2020", "conference", "call", "with", "analysts", "and", "investors", ",", "the", "planned", "details", "of", "which", "can", "be", "found", "below", ".", ".", "The", "Partnership", "'s", "available", "liquidity", "as", "of", "March", "31", ",", "2020", "is", "estimated", "to", "be", "approximately", "$", "1.2 billion", ",", "and", "SHLX", "does", "not", "expect", "to", "have", "any", "near", "-", "term", "need", "to", "access", "the", "capital", "markets", "for", "debt", "or", "equity", ".", "Additionally", ",", "SHLX", "has", "no", "scheduled", "near", "-", "term", "maturities", "of", "its", "senior", "notes", "or", "credit", "facilities", ",", "with", "the", "earliest", "scheduled", "maturity", "in", "2022", ".", ".", "SHLX", "expects", "to", "announce", "its", "earnings", "for", "the", "first", "quarter", "of", "2020", "on", "Thursday", ",", "May", "7", ",", "2020", ",", "before", "the", "New", "York", "Stock", "Exchange", "opens", "for", "trading", ".", "Following", "the", "announcement", ",", "the", "Partnership", "intends", "to", "host", "a", "conference", "call", "at", "10", ":", "00", "a.m.", "CDT", "with", "analysts", "and", "investors", ".", "Interested", "parties", "may", "listen", "to", "the", "conference", "call", "on", "the", "Partnership", "'s", "website", "at", "www.shellmidstreampartners.com", "by", "clicking", "on", "the", "link", "titled", "\"", "2020", "First", "Quarter", "Financial", "Results", "\"", "in", "the", "\"", "Events", "&", "Conferences", "\"", "section", "of", "the", "website", ".", "A", "replay", "of", "the", "webcast", "will", "be", "posted", "on", "the", "Partnership", "'s", "website", "following", "the", "event", ".", "SHLX", "remains", "focused", "on", "the", "health", "and", "safety", "of", "its", "people", ",", "customers", ",", "vendors", ",", "partners", "and", "the", "broader", "community", "as", "the", "Partnership", "'s", "top", "priority", "during", "the", "global", "COVID", "-", "19", "pandemic", ".", "The", "Partnership", "has", "implemented", "pandemic", "response", "and", "business", "continuity", "plans", "to", "prevent", "illness", "and", "provide", "reliable", "and", "safe", "operations", ",", "while", "maintaining", "regular", "communication", "with", "customers", ".", "ABOUT", "SHELL", "MIDSTREAM", "PARTNERS", ",", "L", ".", "P", ".", "Shell", "Midstream", "Partners", ",", "L", ".", "P", ".", ",", "headquartered", "in", "Houston", ",", "Texas", ",", "owns", ",", "operates", ",", "develops", "and", "acquires", "pipelines", "and", "other", "midstream", "and", "logistics", "assets", ".", "The", "Partnership", "'s", "assets", "include", "interests", "in", "entities", "that", "own", "crude", "oil", "and", "refined", "products", "pipelines", "and", "terminals", "that", "serve", "as", "key", "infrastructure", "to", "(", "i", ")", "transport", "onshore", "and", "offshore", "crude", "oil", "production", "to", "Gulf", "Coast", "and", "Midwest", "refining", "markets", ",", "(", "ii", ")", "deliver", "refined", "products", "from", "those", "markets", "to", "major", "demand", "centers", "and", "(", "iii", ")", "storage", "tanks", ",", "docks", ",", "truck", "and", "rail", "racks", "and", "other", "infrastructure", "used", "to", "stage", "and", "transport", "intermediate", "and", "finished", "products", ".", "The", "Partnership", "'s", "assets", "also", "include", "interests", "in", "entities", "that", "own", "natural", "gas", "and", "refinery", "gas", "pipelines", "that", "transport", "offshore", "natural", "gas", "to", "market", "hubs", "and", "deliver", "refinery", "gas", "from", "refineries", "and", "plants", "to", "chemical", "sites", "along", "the", "Gulf", "Coast", ".", "For", "more", "information", "on", "Shell", "Midstream", "Partners", ",", "L", ".", "P", ".", "and", "the", "assets", "owned", "by", "the", "Partnership", ",", "please", "visit", "www.shellmidstreampartners.com", ".", "FORWARD", "LOOKING", "STATEMENTS", "This", "press", "release", "includes", "various", "\"", "forward", "-", "looking", "statements", "\"", "within", "the", "meaning", "of", "the", "Securities", "Act", "of", "1933", ",", "as", "amended", ",", "and", "the", "Securities", "Exchange", "Act", "of", "1934", ",", "as", "amended", ".", "All", "statements", "other", "than", "statements", "of", "historical", "fact", "are", ",", "or", "may", "be", "deemed", "to", "be", ",", "forward", "-", "looking", "statements", ".", "Forward", "-", "looking", "statements", "are", "statements", "of", "future", "expectations", "that", "are", "based", "on", "management", "'s", "current", "expectations", "and", "assumptions", "and", "involve", "known", "and", "unknown", "risks", "and", "uncertainties", "that", "could", "cause", "actual", "results", ",", "performance", "or", "events", "to", "differ", "materially", "from", "those", "expressed", "or", "implied", "in", "these", "statements", ".", "Forward", "-", "looking", "statements", "include", ",", "among", "other", "things", ",", "statements", "concerning", "management", "'s", "expectations", ",", "beliefs", ",", "estimates", ",", "forecasts", ",", "projections", "and", "assumptions", ".", "You", "can", "identify", "our", "forward", "-", "looking", "statements", "by", "words", "such", "as", "\"", "anticipate", "\"", ",", "\"", "believe", "\"", ",", "\"", "estimate", "\"", ",", "\"", "budget", "\"", ",", "\"", "continue", "\"", ",", "\"", "potential", "\"", ",", "\"", "guidance", "\"", ",", "\"", "effort", "\"", ",", "\"", "expect", "\"", ",", "\"", "forecast", "\"", ",", "\"", "goals", "\"", ",", "\"", "objectives", "\"", ",", "\"", "outlook", "\"", ",", "\"", "intend", "\"", ",", "\"", "plan", "\"", ",", "\"", "predict", "\"", ",", "\"", "project", "\"", ",", "\"", "seek", "\"", ",", "\"", "target", "\"", ",", "\"", "begin", "\"", ",", "\"", "could", "\"", ",", "\"", "may", "\"", ",", "\"", "should", "\"", "or", "\"", "would", "\"", "or", "other", "similar", "expressions", "that", "convey", "the", "uncertainty", "of", "future", "events", "or", "outcomes", ".", "In", "accordance", "with", "\"", "safe", "harbor", "\"", "provisions", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ",", "these", "statements", "are", "accompanied", "by", "cautionary", "language", "identifying", "important", "factors", ",", "though", "not", "necessarily", "all", "such", "factors", ",", "which", "could", "cause", "future", "outcomes", "to", "differ", "materially", "from", "those", "set", "forth", "in", "forward", "-", "looking", "statements", ".", "In", "particular", ",", "expressed", "or", "implied", "statements", "concerning", "future", "growth", ",", "future", "actions", ",", "the", "continued", "effects", "of", "the", "global", "COVID", "-", "19", "pandemic", "on", "demand", ",", "the", "effects", "of", "the", "continued", "volatility", "of", "commodity", "prices", "and", "the", "related", "macroeconomic", "and", "political", "environment", ",", "future", "drop", "downs", ",", "volumes", ",", "capital", "requirements", ",", "conditions", "or", "events", ",", "future", "operating", "results", "or", "the", "ability", "to", "generate", "sales", ",", "the", "potential", "exposure", "of", "the", "Partnership", "to", "market", "risks", ",", "and", "statements", "relating", "to", "the", "expected", "amount", "of", "distributions", ",", "coverage", "ratios", "and", "expectations", "regarding", "not", "accessing", "the", "capital", "markets", "for", "debt", "or", "equity", "in", "the", "near", "-", "term", "are", "forward", "-", "looking", "statements", ".", "Forward", "-", "looking", "statements", "are", "not", "guarantees", "of", "performance", ".", "They", "involve", "risks", ",", "uncertainties", "and", "assumptions", ".", "Future", "actions", ",", "conditions", "or", "events", "and", "future", "results", "of", "operations", "may", "differ", "materially", "from", "those", "expressed", "in", "these", "forward", "-", "looking", "statements", ".", "Forward", "-", "looking", "statements", "speak", "only", "as", "of", "the", "date", "of", "this", "press", "release", ",", "April", "2", ",", "2020", ",", "and", "we", "disclaim", "any", "obligation", "to", "update", "publicly", "or", "to", "revise", "any", "forward", "-", "looking", "statements", ",", "whether", "as", "a", "result", "of", "new", "information", ",", "future", "events", "or", "otherwise", ",", "except", "as", "required", "by", "law", ".", "All", "forward", "-", "looking", "statements", "contained", "in", "this", "document", "are", "expressly", "qualified", "in", "their", "entirety", "by", "the", "cautionary", "statements", "contained", "or", "referred", "to", "in", "this", "paragraph", ".", "Many", "of", "the", "factors", "that", "will", "determine", "these", "results", "are", "beyond", "our", "ability", "to", "control", "or", "predict", ".", "More", "information", "on", "these", "risks", "and", "other", "potential", "factors", "that", "could", "affect", "the", "Partnership", "'s", "financial", "results", "is", "included", "in", "the", "Partnership", "'s", "filings", "with", "the", "U", ".", "S", ".", "Securities", "and", "Exchange", "Commission", ",", "including", "in", "the", "\"", "Risk", "Factors", "\"", "and", "\"", "Management", "'s", "Discussion", "and", "Analysis", "of", "Financial", "Condition", "and", "Results", "of", "Operations", "\"", "sections", "of", "the", "Partnership", "'s", "most", "recently", "filed", "periodic", "reports", "on", "Form", "10", "-", "K", "and", "Form", "10", "-", "Q", "and", "subsequent", "filings", ".", "If", "any", "of", "those", "risks", "occur", ",", "it", "could", "cause", "our", "actual", "results", "to", "differ", "materially", "from", "those", "contained", "in", "any", "forward", "-", "looking", "statement", ".", "Because", "of", "these", "risks", "and", "uncertainties", ",", "you", "should", "not", "place", "undue", "reliance", "on", "any", "forward", "-", "looking", "statement", ".", "SHELL", "and", "the", "SHELL", "Pecten", "are", "registered", "trademarks", "of", "Shell", "Trademark", "Management", ",", "B", ".", "V", ".", "used", "under", "license", ".", "April", "2", ",", "2020", "Inquiries", ":", "Shell", "Media", "Relations", "Americas", ":", "+", "1", "832", "337", "4355", "Shell", "Investor", "Relations", "North", "America", ":", "+", "1", "832", "337", "2034" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
812301-000111667905000667-ex99-1
EX-99 2 ex99-1.txt EX. 99.1 - PRESS RELEASE Exhibit 99.1 Franklin Capital Corporation Completes Acquisition of SurgiCount Medical, Inc. SANTA MONICA, Calif.--March 2, 2005--Franklin Capital Corporation (AMEX: FKL) announced today that it has completed the previously announced acquisition of SurgiCount Medical, Inc., a developer of patient safety devices featuring The Safety-Sponge(TM) System, which allows for faster and more accurate counting of surgical sponges. "With the completion of the SurgiCount Medical acquisition", said Milton "Todd" Ault, III, the Chairman and Chief Executive Officer of Franklin Capital, "Franklin Capital has taken another important step in its stated restructuring plan and has firmly positioned Franklin to be a leader in the patient safety sector. We are thrilled to be a pioneer of this new and exciting sector which has a large potential for growth". As previously announced, Franklin Capital will seek stockholder approval at its upcoming annual meeting of stockholders, currently scheduled for March 29, 2005, to change its name from "Franklin Capital Corporation" to "Patient Safety Technologies, Inc." in order to more accurately reflect and represent Franklin Capital's current and proposed business activities". For more information on Franklin Capital and SurgiCount Medical, please go to www.franklincapitalcorp.com or www.surgicountmedical.com. ADDITIONAL INFORMATION Franklin Capital has filed with the SEC a preliminary proxy statement in connection with its upcoming annual meeting of stockholders. The information contained in the preliminary proxy statement is not complete and may be changed. Franklin Capital's stockholders are advised to read the definitive proxy statement relating to the annual meeting of stockholders of Franklin Capital when it becomes available, as it will contain important information. You may also obtain the documents filed by Franklin Capital with the Securities and Exchange Commission for free at the Internet website maintained by the Securities and Exchange Commission at www.sec.gov. In addition, Franklin Capital will mail the definitive proxy statement to each stockholder of record on the record date to be established for the upcoming annual meeting of stockholders of Franklin Capital. Copies of the definitive proxy statement will also be available for free by writing to Corporate Secretary, Franklin Capital Corporation, 100 Wilshire Boulevard, Suite 1500, Santa Monica, CA 90401. Franklin Capital, its directors and its executive officers may be deemed to be participants in the solicitation of proxies in connection with the upcoming annual meeting of stockholders. Information regarding these participants is contained in a filing under Rule 14a-12 of the Securities and Exchange Act of 1934 filed by Franklin Capital Corporation with the SEC on January 3, 2005. FORWARD-LOOKING STATEMENTS This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can generally be identified as such because the context of the statement will include words such as "expects", "should", "believes", "anticipates" or words of similar import. Examples of such statements include, without limitation, the statements made by Milton "Todd" Ault, III and statements relating to Franklin Capital's proposed business activities. Stockholders, potential investors and other readers are cautioned that these forward-looking statements are predictions based only on current information and expectations that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by the forward- looking statements. Certain of those risks and uncertainties are discussed in the Franklin Capital's filings with the Securities and Exchange Commission, including Franklin Capital's annual report on Form 10-K and quarterly reports on Form 10-Q. These forward-looking statements are only made as of the date of this press release and Franklin Capital does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. ---------------------- Contact: Franklin Capital Corporation Nicolas Soichet, 310-752-1416 [email protected] www.franklincapitalcorp.com
[ "EX", "-", "99", "2", "ex99", "-", "1", ".", "txt", "EX", ".", "99", ".", "1", "-", "PRESS", "RELEASE", "Exhibit", "99", ".", "1", "Franklin", "Capital", "Corporation", "Completes", "Acquisition", "of", "SurgiCount", "Medical", ",", "Inc", ".", "SANTA", "MONICA", ",", "Calif", ".", "--", "March", "2", ",", "2005", "--", "Franklin", "Capital", "Corporation", "(", "AMEX", ":", "FKL", ")", "announced", "today", "that", "it", "has", "completed", "the", "previously", "announced", "acquisition", "of", "SurgiCount", "Medical", ",", "Inc", ".", ",", "a", "developer", "of", "patient", "safety", "devices", "featuring", "The", "Safety", "-", "Sponge", "(", "TM", ")", "System", ",", "which", "allows", "for", "faster", "and", "more", "accurate", "counting", "of", "surgical", "sponges", ".", "\"", "With", "the", "completion", "of", "the", "SurgiCount", "Medical", "acquisition", "\"", ",", "said", "Milton", "\"", "Todd", "\"", "Ault", ",", "III", ",", "the", "Chairman", "and", "Chief", "Executive", "Officer", "of", "Franklin", "Capital", ",", "\"", "Franklin", "Capital", "has", "taken", "another", "important", "step", "in", "its", "stated", "restructuring", "plan", "and", "has", "firmly", "positioned", "Franklin", "to", "be", "a", "leader", "in", "the", "patient", "safety", "sector", ".", "We", "are", "thrilled", "to", "be", "a", "pioneer", "of", "this", "new", "and", "exciting", "sector", "which", "has", "a", "large", "potential", "for", "growth", "\"", ".", "As", "previously", "announced", ",", "Franklin", "Capital", "will", "seek", "stockholder", "approval", "at", "its", "upcoming", "annual", "meeting", "of", "stockholders", ",", "currently", "scheduled", "for", "March", "29", ",", "2005", ",", "to", "change", "its", "name", "from", "\"", "Franklin", "Capital", "Corporation", "\"", "to", "\"", "Patient", "Safety", "Technologies", ",", "Inc", ".", "\"", "in", "order", "to", "more", "accurately", "reflect", "and", "represent", "Franklin", "Capital", "'", "s", "current", "and", "proposed", "business", "activities", "\"", ".", "For", "more", "information", "on", "Franklin", "Capital", "and", "SurgiCount", "Medical", ",", "please", "go", "to", "www.franklincapitalcorp.com", "or", "www.surgicountmedical.com", ".", "ADDITIONAL", "INFORMATION", "Franklin", "Capital", "has", "filed", "with", "the", "SEC", "a", "preliminary", "proxy", "statement", "in", "connection", "with", "its", "upcoming", "annual", "meeting", "of", "stockholders", ".", "The", "information", "contained", "in", "the", "preliminary", "proxy", "statement", "is", "not", "complete", "and", "may", "be", "changed", ".", "Franklin", "Capital", "'s", "stockholders", "are", "advised", "to", "read", "the", "definitive", "proxy", "statement", "relating", "to", "the", "annual", "meeting", "of", "stockholders", "of", "Franklin", "Capital", "when", "it", "becomes", "available", ",", "as", "it", "will", "contain", "important", "information", ".", "You", "may", "also", "obtain", "the", "documents", "filed", "by", "Franklin", "Capital", "with", "the", "Securities", "and", "Exchange", "Commission", "for", "free", "at", "the", "Internet", "website", "maintained", "by", "the", "Securities", "and", "Exchange", "Commission", "at", "www.sec.gov", ".", "In", "addition", ",", "Franklin", "Capital", "will", "mail", "the", "definitive", "proxy", "statement", "to", "each", "stockholder", "of", "record", "on", "the", "record", "date", "to", "be", "established", "for", "the", "upcoming", "annual", "meeting", "of", "stockholders", "of", "Franklin", "Capital", ".", "Copies", "of", "the", "definitive", "proxy", "statement", "will", "also", "be", "available", "for", "free", "by", "writing", "to", "Corporate", "Secretary", ",", "Franklin", "Capital", "Corporation", ",", "100", "Wilshire", "Boulevard", ",", "Suite", "1500", ",", "Santa", "Monica", ",", "CA", "90401", ".", "Franklin", "Capital", ",", "its", "directors", "and", "its", "executive", "officers", "may", "be", "deemed", "to", "be", "participants", "in", "the", "solicitation", "of", "proxies", "in", "connection", "with", "the", "upcoming", "annual", "meeting", "of", "stockholders", ".", "Information", "regarding", "these", "participants", "is", "contained", "in", "a", "filing", "under", "Rule", "14a", "-", "12", "of", "the", "Securities", "and", "Exchange", "Act", "of", "1934", "filed", "by", "Franklin", "Capital", "Corporation", "with", "the", "SEC", "on", "January", "3", ",", "2005", ".", "FORWARD", "-", "LOOKING", "STATEMENTS", "This", "press", "release", "contains", "certain", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "Section", "27A", "of", "the", "Securities", "Act", "of", "1933", ",", "as", "amended", ",", "and", "Section", "21E", "of", "the", "Securities", "Exchange", "Act", "of", "1934", ",", "as", "amended", ".", "These", "forward", "-", "looking", "statements", "can", "generally", "be", "identified", "as", "such", "because", "the", "context", "of", "the", "statement", "will", "include", "words", "such", "as", "\"", "expects", "\"", ",", "\"", "should", "\"", ",", "\"", "believes", "\"", ",", "\"", "anticipates", "\"", "or", "words", "of", "similar", "import", ".", "Examples", "of", "such", "statements", "include", ",", "without", "limitation", ",", "the", "statements", "made", "by", "Milton", "\"", "Todd", "\"", "Ault", ",", "III", "and", "statements", "relating", "to", "Franklin", "Capital", "'s", "proposed", "business", "activities", ".", "Stockholders", ",", "potential", "investors", "and", "other", "readers", "are", "cautioned", "that", "these", "forward", "-", "looking", "statements", "are", "predictions", "based", "only", "on", "current", "information", "and", "expectations", "that", "are", "inherently", "subject", "to", "risks", "and", "uncertainties", "that", "could", "cause", "future", "events", "or", "results", "to", "differ", "materially", "from", "those", "set", "forth", "or", "implied", "by", "the", "forward", "-", "looking", "statements", ".", "Certain", "of", "those", "risks", "and", "uncertainties", "are", "discussed", "in", "the", "Franklin", "Capital", "'s", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", ",", "including", "Franklin", "Capital", "'s", "annual", "report", "on", "Form", "10", "-", "K", "and", "quarterly", "reports", "on", "Form", "10", "-", "Q", ".", "These", "forward", "-", "looking", "statements", "are", "only", "made", "as", "of", "the", "date", "of", "this", "press", "release", "and", "Franklin", "Capital", "does", "not", "undertake", "any", "obligation", "to", "publicly", "update", "such", "forward", "-", "looking", "statements", "to", "reflect", "subsequent", "events", "or", "circumstances", ".", "----------------------", "Contact", ":", "Franklin", "Capital", "Corporation", "Nicolas", "Soichet", ",", "310", "-", "752", "-", "1416", "[email protected]", "www.franklincapitalcorp.com" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1309402-000130940218000125-gpre-20180801xex99_1
EX-99.1 3 gpre-20180801xex99_1.htm EX-99.1 Exhibit 991 Exhibit 99.1 Green Plains Acquires Bartlett Cattle Company OMAHA, Neb., Jul. 31, 2018 (GLOBE NEWSWIRE)  Green Plains Inc. (NASDAQ:GPRE) today announced that its subsidiary, Green Plains Cattle Company, has signed a definitive agreement to acquire two cattle-feeding operations from Bartlett Cattle Company LC for approximately $16 million, plus working capital. The transaction includes two feed yard operations located in Sublette, Kansas and Tulia, Texas with combined capacity of approximately 97,000 head, increasing Green Plains Cattle's feeding operations to 355,000 head of capacity. "Our success in cattle feeding over the last four years gives us confidence to continue growing in this area and adding the Bartlett cattle-feeding operations fits seamlessly into our protein growth strategy", commented Todd Becker, president and chief executive officer of Green Plains. "Expanding our feeding operations by 38% strengthens our ability to further supply our internal demand for the distillers grains and corn oil we produce. This acquisition will be immediately accretive to our earnings in the third quarter and enhances our ability to deliver more stable and consistent earnings to our shareholders". The acquisition includes the purchase of working capital, comprised of cattle, grain and other inventories totaling approximately $109 million. The two feedlots consist of approximately 2,100 acres of land, grain storage and excellent water sources. In conjunction with the close of the transaction, the company will be amending the Green Plains Cattle senior secured revolving credit facility, increasing the maximum commitment from $425 million to $500 million to fund the additional working capital requirements related to the Bartlett acquisition. The amended credit facility includes an accordion feature that enables the credit facility to be increased by up to $100 million with agent approval. The transaction is expected to close Aug. 1, 2018. About Green Plains Inc. Green Plains Inc. (NASDAQ:GPRE) is a diversified commodity-processing business with operations related to ethanol production, grain handling and storage, cattle feeding, food ingredients, and commodity marketing and logistics services. The company is one of the leading producers of ethanol in the world and, through its adjacent businesses, is focused on the production of high-protein feed ingredients and export growth opportunities. Green Plains owns a 62.5% limited partner interest and a 2.0% general partner interest in Green Plains Partners. For more information about Green Plains, visit www.gpreinc.com. Forward-Looking Statements This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements reflect management's current views, which are subject to risks and uncertainties including, but not limited to, anticipated financial and operating results, plans and objectives that are not historical in nature. These statements may be identified by words such as "believe", "expect", "may", "should", "will" and similar expressions. Factors that could cause actual results to differ materially from those expressed or implied include risks related to Green Plains' ability to realize the anticipated benefits of the feedlot acquisition and other risks discussed in Green Plains' reports filed with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this news release. Green Plains assumes no obligation to update any such forward-looking statements, except as required by law. Contact: Jim Stark, Vice President - Investor and Media Relations, Green Plains Inc. (402) 884-8700 ###
[ "EX", "-", "99", ".", "1", "3", "gpre", "-", "20180801xex99", "_", "1", ".", "htm", "EX", "-", "99", ".", "1", "Exhibit", "991", "Exhibit", "99", ".", "1", "Green", "Plains", "Acquires", "Bartlett", "Cattle", "Company", "OMAHA", ",", "Neb", ".", ",", "Jul.", "31", ",", "2018", "(", "GLOBE", "NEWSWIRE", ")", "", "Green", "Plains", "Inc", ".", "(", "NASDAQ", ":", "GPRE", ")", "today", "announced", "that", "its", "subsidiary", ",", "Green", "Plains", "Cattle", "Company", ",", "has", "signed", "a", "definitive", "agreement", "to", "acquire", "two", "cattle", "-", "feeding", "operations", "from", "Bartlett", "Cattle", "Company", "LC", "for", "approximately", "$", "16 million", ",", "plus", "working", "capital", ".", "The", "transaction", "includes", "two", "feed", "yard", "operations", "located", "in", "Sublette", ",", "Kansas", "and", "Tulia", ",", "Texas", "with", "combined", "capacity", "of", "approximately", "97,000", "head", ",", "increasing", "Green", "Plains", "Cattle", "'", "s", "feeding", "operations", "to", "355,000", "head", "of", "capacity", ".", "\"", "Our", "success", "in", "cattle", "feeding", "over", "the", "last", "four", "years", "gives", "us", "confidence", "to", "continue", "growing", "in", "this", "area", "and", "adding", "the", "Bartlett", "cattle", "-", "feeding", "operations", "fits", "seamlessly", "into", "our", "protein", "growth", "strategy", "\"", ",", "commented", "Todd", "Becker", ",", "president", "and", "chief", "executive", "officer", "of", "Green", "Plains", ".", "\"", "Expanding", "our", "feeding", "operations", "by", "38", "%", "strengthens", "our", "ability", "to", "further", "supply", "our", "internal", "demand", "for", "the", "distillers", "grains", "and", "corn", "oil", "we", "produce", ".", "This", "acquisition", "will", "be", "immediately", "accretive", "to", "our", "earnings", "in", "the", "third", "quarter", "and", "enhances", "our", "ability", "to", "deliver", "more", "stable", "and", "consistent", "earnings", "to", "our", "shareholders", "\"", ".", "The", "acquisition", "includes", "the", "purchase", "of", "working", "capital", ",", "comprised", "of", "cattle", ",", "grain", "and", "other", "inventories", "totaling", "approximately", "$", "109 million", ".", "The", "two", "feedlots", "consist", "of", "approximately", "2,100", "acres", "of", "land", ",", "grain", "storage", "and", "excellent", "water", "sources", ".", "In", "conjunction", "with", "the", "close", "of", "the", "transaction", ",", "the", "company", "will", "be", "amending", "the", "Green", "Plains", "Cattle", "senior", "secured", "revolving", "credit", "facility", ",", "increasing", "the", "maximum", "commitment", "from", "$", "425 million", "to", "$", "500 million", "to", "fund", "the", "additional", "working", "capital", "requirements", "related", "to", "the", "Bartlett", "acquisition", ".", "The", "amended", "credit", "facility", "includes", "an", "accordion", "feature", "that", "enables", "the", "credit", "facility", "to", "be", "increased", "by", "up", "to", "$", "100 million", "with", "agent", "approval", ".", "The", "transaction", "is", "expected", "to", "close", "Aug.", "1", ",", "2018", ".", "About", "Green", "Plains", "Inc", ".", "Green", "Plains", "Inc", ".", "(", "NASDAQ", ":", "GPRE", ")", "is", "a", "diversified", "commodity", "-", "processing", "business", "with", "operations", "related", "to", "ethanol", "production", ",", "grain", "handling", "and", "storage", ",", "cattle", "feeding", ",", "food", "ingredients", ",", "and", "commodity", "marketing", "and", "logistics", "services", ".", "The", "company", "is", "one", "of", "the", "leading", "producers", "of", "ethanol", "in", "the", "world", "and", ",", "through", "its", "adjacent", "businesses", ",", "is", "focused", "on", "the", "production", "of", "high", "-", "protein", "feed", "ingredients", "and", "export", "growth", "opportunities", ".", "Green", "Plains", "owns", "a", "62", ".", "5", "%", "limited", "partner", "interest", "and", "a", "2", ".", "0", "%", "general", "partner", "interest", "in", "Green", "Plains", "Partners", ".", "For", "more", "information", "about", "Green", "Plains", ",", "visit", "www.gpreinc.com", ".", "Forward", "-", "Looking", "Statements", "This", "news", "release", "includes", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ",", "as", "amended", ".", "Forward", "-", "looking", "statements", "reflect", "management", "'s", "current", "views", ",", "which", "are", "subject", "to", "risks", "and", "uncertainties", "including", ",", "but", "not", "limited", "to", ",", "anticipated", "financial", "and", "operating", "results", ",", "plans", "and", "objectives", "that", "are", "not", "historical", "in", "nature", ".", "These", "statements", "may", "be", "identified", "by", "words", "such", "as", "\"", "believe", "\"", ",", "\"", "expect", "\"", ",", "\"", "may", "\"", ",", "\"", "should", "\"", ",", "\"", "will", "\"", "and", "similar", "expressions", ".", "Factors", "that", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "expressed", "or", "implied", "include", "risks", "related", "to", "Green", "Plains", "'", "ability", "to", "realize", "the", "anticipated", "benefits", "of", "the", "feedlot", "acquisition", "and", "other", "risks", "discussed", "in", "Green", "Plains", "'", "reports", "filed", "with", "the", "Securities", "and", "Exchange", "Commission", ".", "Investors", "are", "cautioned", "not", "to", "place", "undue", "reliance", "on", "forward", "-", "looking", "statements", ",", "which", "speak", "only", "as", "of", "the", "date", "of", "this", "news", "release", ".", "Green", "Plains", "assumes", "no", "obligation", "to", "update", "any", "such", "forward", "-", "looking", "statements", ",", "except", "as", "required", "by", "law", ".", "Contact", ":", "Jim", "Stark", ",", "Vice", "President", "-", "Investor", "and", "Media", "Relations", ",", "Green", "Plains", "Inc", ".", "(", "402", ")", "884", "-", "8700", "#", "#", "#" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1377963-000139390511000078-westm_ex99-1
EX-99.1 3 westm_ex99-1.htm PRESS RELEASE OF WESTMONT RESOURCES INC, DATED FEBRUARY 8, 2011. westm_ex99-1.htm Westmont Resources Files (8-K) Disclosing the Completion of the Acquisition of Oil & Natural Gas Shale Assets in Marcellus-Chattanooga BELLEVUE, WA, February 8, 2011, Westmont Resources Inc. (OTCBB: WMNS) today announced the filing of a Current Report on Form 8-K announcing that it has completed the acquisition of 92 wells in the Chattanooga Shale region in the northern tier of Tennessee from Domestic Energy Corporation. Preliminary estimates indicate that the value of the estimated reserves for these latest 92 wells could potentially reach in excess of $100MM. This is based on the company's review of other assessments and production in the immediate area. The company is finalizing confirmation of the true bankable reserves by a review conducted by a recognized independent oil industry geologist. Westmont's portfolio, in addition to this most recent acquisition in the Tennessee Chattanooga Shale region, includes joint ventures developing two significant blocks in the Marcellus Shale region including, 1,800 lease acres in Western Pennsylvania and 1,650 lease acres in West Virginia. "Our Tennessee assets are an excellent fit with our existing core areas and will expand our portfolio, which is balanced in terms of geography and geology", said Glenn McQuiston, Westmont's President. "This transaction is similar to our earlier strategic steps, bringing near-term production and cash flow as well as long-term upside potential with identified exploration opportunities". "This is a strategic step and a natural extension into the Chattanooga", McQuiston continued. "We have considered extending our Marcellus natural resources operations into the Chattanooga region for some time and this acquisition provides a significant beachhead for growth in the region and complements our existing strengths in both West Virginia and Pennsylvania. It's the right time because recent advances in seismic technology and continued enhancements in facilities design have reduced the risks in one of the world's oldest basins which is now showing significant renewed potential". About Westmont Resources Westmont Resources is an independent natural resource and development company headquartered in Bellevue, Washington, with principal operations in the United State. Westmont deploys the latest systems and methods, principally its own proprietary technologies, to expand the production of oil and gas in the face of ever-rising demand. Westmont's strategy of obtaining peak efficiency and production by unlocking the reserves from existing assets becomes increasingly profitable. Westmont Resources is committed to significant growth as it pursues its strategy to combine and consolidate additional assets and companies in the oil and natural gas production and services sectors. For more information about Westmont Resources Inc, visit the company's website at www.westmontresources.com Safe Harbor Statement This press release contains forward-looking statements regarding Westmont Resources Inc within the meaning of Section 27A of the Securities Act of 1933 as amended, as such, may involve risks and uncertainties. Such statements are based on management's current expectations and cannot be guaranteed. The forward-looking statements discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors affecting Westmont Resources Inc. Forward-looking statements speak only as of the date on which they are made and Westmont Resources Inc undertakes no obligation to publicly revise any forward-looking statement based on the result of new information, future events, or otherwise. Investor relation contact: 1-(888)-264-2738 (TOLL FREE) [email protected]
[ "EX", "-", "99", ".", "1", "3", "westm", "_", "ex99", "-", "1", ".", "htm", "PRESS", "RELEASE", "OF", "WESTMONT", "RESOURCES", "INC", ",", "DATED", "FEBRUARY", "8", ",", "2011", ".", "westm", "_", "ex99", "-", "1", ".", "htm", "Westmont", "Resources", "Files", "(", "8", "-", "K", ")", "Disclosing", "the", "Completion", "of", "the", "Acquisition", "of", "Oil", "&", "Natural", "Gas", "Shale", "Assets", "in", "Marcellus", "-", "Chattanooga", "BELLEVUE", ",", "WA", ",", "February", "8", ",", "2011", ",", "Westmont", "Resources", "Inc", ".", "(", "OTCBB", ":", "WMNS", ")", "today", "announced", "the", "filing", "of", "a", "Current", "Report", "on", "Form", "8", "-", "K", "announcing", "that", "it", "has", "completed", "the", "acquisition", "of", "92", "wells", "in", "the", "Chattanooga", "Shale", "region", "in", "the", "northern", "tier", "of", "Tennessee", "from", "Domestic", "Energy", "Corporation", ".", "Preliminary", "estimates", "indicate", "that", "the", "value", "of", "the", "estimated", "reserves", "for", "these", "latest", "92", "wells", "could", "potentially", "reach", "in", "excess", "of", "$", "100", "MM", ".", "This", "is", "based", "on", "the", "company", "'s", "review", "of", "other", "assessments", "and", "production", "in", "the", "immediate", "area", ".", "The", "company", "is", "finalizing", "confirmation", "of", "the", "true", "bankable", "reserves", "by", "a", "review", "conducted", "by", "a", "recognized", "independent", "oil", "industry", "geologist", ".", "Westmont", "'s", "portfolio", ",", "in", "addition", "to", "this", "most", "recent", "acquisition", "in", "the", "Tennessee", "Chattanooga", "Shale", "region", ",", "includes", "joint", "ventures", "developing", "two", "significant", "blocks", "in", "the", "Marcellus", "Shale", "region", "including", ",", "1,800", "lease", "acres", "in", "Western", "Pennsylvania", "and", "1,650", "lease", "acres", "in", "West", "Virginia", ".", "\"", "Our", "Tennessee", "assets", "are", "an", "excellent", "fit", "with", "our", "existing", "core", "areas", "and", "will", "expand", "our", "portfolio", ",", "which", "is", "balanced", "in", "terms", "of", "geography", "and", "geology", "\"", ",", "said", "Glenn", "McQuiston", ",", "Westmont", "'s", "President", ".", "\"", "This", "transaction", "is", "similar", "to", "our", "earlier", "strategic", "steps", ",", "bringing", "near", "-", "term", "production", "and", "cash", "flow", "as", "well", "as", "long", "-", "term", "upside", "potential", "with", "identified", "exploration", "opportunities", "\"", ".", "\"", "This", "is", "a", "strategic", "step", "and", "a", "natural", "extension", "into", "the", "Chattanooga", "\"", ",", "McQuiston", "continued", ".", "\"", "We", "have", "considered", "extending", "our", "Marcellus", "natural", "resources", "operations", "into", "the", "Chattanooga", "region", "for", "some", "time", "and", "this", "acquisition", "provides", "a", "significant", "beachhead", "for", "growth", "in", "the", "region", "and", "complements", "our", "existing", "strengths", "in", "both", "West", "Virginia", "and", "Pennsylvania", ".", "It", "'", "s", "the", "right", "time", "because", "recent", "advances", "in", "seismic", "technology", "and", "continued", "enhancements", "in", "facilities", "design", "have", "reduced", "the", "risks", "in", "one", "of", "the", "world", "'s", "oldest", "basins", "which", "is", "now", "showing", "significant", "renewed", "potential", "\"", ".", "About", "Westmont", "Resources", "Westmont", "Resources", "is", "an", "independent", "natural", "resource", "and", "development", "company", "headquartered", "in", "Bellevue", ",", "Washington", ",", "with", "principal", "operations", "in", "the", "United", "State", ".", "Westmont", "deploys", "the", "latest", "systems", "and", "methods", ",", "principally", "its", "own", "proprietary", "technologies", ",", "to", "expand", "the", "production", "of", "oil", "and", "gas", "in", "the", "face", "of", "ever", "-", "rising", "demand", ".", "Westmont", "'s", "strategy", "of", "obtaining", "peak", "efficiency", "and", "production", "by", "unlocking", "the", "reserves", "from", "existing", "assets", "becomes", "increasingly", "profitable", ".", "Westmont", "Resources", "is", "committed", "to", "significant", "growth", "as", "it", "pursues", "its", "strategy", "to", "combine", "and", "consolidate", "additional", "assets", "and", "companies", "in", "the", "oil", "and", "natural", "gas", "production", "and", "services", "sectors", ".", "For", "more", "information", "about", "Westmont", "Resources", "Inc", ",", "visit", "the", "company", "'s", "website", "at", "www.westmontresources.com", "Safe", "Harbor", "Statement", "This", "press", "release", "contains", "forward", "-", "looking", "statements", "regarding", "Westmont", "Resources", "Inc", "within", "the", "meaning", "of", "Section", "27A", "of", "the", "Securities", "Act", "of", "1933", "as", "amended", ",", "as", "such", ",", "may", "involve", "risks", "and", "uncertainties", ".", "Such", "statements", "are", "based", "on", "management", "'s", "current", "expectations", "and", "can", "not", "be", "guaranteed", ".", "The", "forward", "-", "looking", "statements", "discussed", "in", "this", "release", "may", "not", "occur", "and", "actual", "results", "could", "differ", "materially", "as", "a", "result", "of", "known", "and", "unknown", "risk", "factors", "affecting", "Westmont", "Resources", "Inc", ".", "Forward", "-", "looking", "statements", "speak", "only", "as", "of", "the", "date", "on", "which", "they", "are", "made", "and", "Westmont", "Resources", "Inc", "undertakes", "no", "obligation", "to", "publicly", "revise", "any", "forward", "-", "looking", "statement", "based", "on", "the", "result", "of", "new", "information", ",", "future", "events", ",", "or", "otherwise", ".", "Investor", "relation", "contact", ":", "1", "-", "(", "888", ")", "-", "264", "-", "2738", "(", "TOLL", "FREE", ")", "[email protected]" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
316253-000093041309001405-c56940_ex99-1
EX-99.1 3 c56940_ex99-1.htm c56940_ex99-1.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing EXHIBIT 99.1 news release Enzo Biochem, Inc. 527 Madison Avenue New York, NY 10022 FOR IMMEDIATE RELEASE ENZO BIOCHEM ACQUIRES ASSAY DESIGNS, INC. FURTHER EXPANDING LIFE SCIENCES OPERATIONS Acquisition Seen to be Accretive to Operating Results, Providing a Broader Complementary Product Line and Experience in Immunoassay Development NEW YORK, NY, March 12, 2009 -- Enzo Biochem, Inc. (NYSE:ENZ) today announced the acquisition of substantially all the assets of privately-owned Assay Designs, of Ann Arbor, MI, for a purchase price of approximately $12.2 million in cash, subject to post-closing purchase price adjustments based on Assay Design's working capital as of the closing date. The acquisition is expected to be accretive to operating results. Founded in 1992, Assay Designs sells worldwide a steadily expanding research product line that includes kits and reagents for the detection and quantification of small molecules and proteins that are important in inflammation and immunity, oxidative and cellular stress, steroid and hormone biology, cell signaling, and bioenergetics. "This acquisition represents another important step in our strategy to build Enzo Life Sciences", said Carl Balezentis, President of Enzo Life Sciences "Assay Designs has annual revenues exceeding $11 million. Its research product line which has a strong market and brand position provides an effective complement to those products produced and marketed globally by Enzo Life Sciences under the Alexis and Biomol brands, and which lends itself to benefit from our Company's growing international marketing and sales capabilities in the life sciences field. Assay Designs also provides us with vast experience in protein, antibody and immunoassay development, and manufacturing" "Joining with Enzo Life Sciences is a natural progression for the company" said Daniel Calvo, President and CEO of Assay Designs. "Their complementary product lines and global infrastructure will enable Assay Designs to achieve accelerated growth and a stronger market position than can be accomplished as a standalone company. We look forward to participating in Enzo's on-going expansion as a leader in the life sciences and improving our position within the international scientific community". "The acquisition of Assay Designs represents another step forward for Enzo Biochem, which now will be approaching $100 million in annual revenues", said Barry Weiner, President of Enzo Biochem, Inc. "Moreover, it underscores our strategies to position Enzo in the rapidly developing fields of scientific and medical research and diagnostics, where the practice of medicine is inevitably headed. Bringing healthcare EXHIBIT 99.1 costs down is now a global priority. At the forefront of this effort will be programs to identify illnesses long before they become critical and require extended treatment and hospital stays. Enzo Life Sciences now reaches a very broad market focused on these programs, and along with the practical applications available through Enzo Clinical Labs, and our IP base, our Company is uniquely positioned to participate in this important effort". Assay Design's senior management will remain actively involved with Enzo Life Sciences. With this latest acquisition, Enzo Life Sciences now has US operations in New York, Pennsylvania, Michigan and California, and overseas facilities in Switzerland, the UK and Belgium, as well as more than 50 distributors worldwide. About Enzo Enzo Biochem is engaged in the research, development, manufacture and licensing of innovative health care products and technologies based on molecular biology and genetic engineering techniques, and in providing diagnostic services to the medical community. Enzo's Life Sciences division develops, produces and markets proprietary labeling and detection products for gene sequencing, genetic analysis and immunological research among others. Its catalog of over 33,000 products serves the molecular biology, drug discovery and pathology research markets. The Company's therapeutic division is in various stages of clinical evaluation of its proprietary immune regulation medicines for uveitis and Crohn's Disease and conducts pre-clinical research on several candidate compounds aimed at producing new mineral and organic bone, including technology that could provide therapy for osteoporosis and fractures, among other applications. Enzo's Clinical Labs division provides routine and esoteric reference laboratory services for physicians in the New York Metropolitan and New Jersey areas. Underpinning the Company's technology and operations is an extensive intellectual property estate in which Enzo owns or licenses over 230 patents worldwide, and has pending applications for over 200 more. For more information visit our website www.enzo.com . Except for historical information, the matters discussed in this news release may be considered "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include declarations regarding the intent, belief or current expectations of the Company and its management. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results. The Company disclaims any obligations to update any forward-looking statement as a result of developments occurring after the date of this press release. # # # Contact: For: Enzo Biochem, Inc. Steven Anreder, 212-532-3232 Or Michael Wachs, CEOcast, Inc., 212-732-4300
[ "EX", "-", "99", ".", "1", "3", "c56940", "_", "ex99", "-", "1", ".", "htm", "c56940", "_", "ex99", "-", "1", ".", "htm", "--", "Converted", "by", "SEC", "Publisher", ",", "created", "by", "BCL", "Technologies", "Inc", ".", ",", "for", "SEC", "Filing", "EXHIBIT", "99", ".", "1", "news", "release", "Enzo", "Biochem", ",", "Inc", ".", "527", "Madison", "Avenue", "New", "York", ",", "NY", "10022", "FOR", "IMMEDIATE", "RELEASE", "ENZO", "BIOCHEM", "ACQUIRES", "ASSAY", "DESIGNS", ",", "INC", ".", "FURTHER", "EXPANDING", "LIFE", "SCIENCES", "OPERATIONS", "Acquisition", "Seen", "to", "be", "Accretive", "to", "Operating", "Results", ",", "Providing", "a", "Broader", "Complementary", "Product", "Line", "and", "Experience", "in", "Immunoassay", "Development", "NEW", "YORK", ",", "NY", ",", "March", "12", ",", "2009", "--", "Enzo", "Biochem", ",", "Inc", ".", "(", "NYSE", ":", "ENZ", ")", "today", "announced", "the", "acquisition", "of", "substantially", "all", "the", "assets", "of", "privately", "-", "owned", "Assay", "Designs", ",", "of", "Ann", "Arbor", ",", "MI", ",", "for", "a", "purchase", "price", "of", "approximately", "$", "12.2 million", "in", "cash", ",", "subject", "to", "post", "-", "closing", "purchase", "price", "adjustments", "based", "on", "Assay", "Design", "'s", "working", "capital", "as", "of", "the", "closing", "date", ".", "The", "acquisition", "is", "expected", "to", "be", "accretive", "to", "operating", "results", ".", "Founded", "in", "1992", ",", "Assay", "Designs", "sells", "worldwide", "a", "steadily", "expanding", "research", "product", "line", "that", "includes", "kits", "and", "reagents", "for", "the", "detection", "and", "quantification", "of", "small", "molecules", "and", "proteins", "that", "are", "important", "in", "inflammation", "and", "immunity", ",", "oxidative", "and", "cellular", "stress", ",", "steroid", "and", "hormone", "biology", ",", "cell", "signaling", ",", "and", "bioenergetics", ".", "\"", "This", "acquisition", "represents", "another", "important", "step", "in", "our", "strategy", "to", "build", "Enzo", "Life", "Sciences", "\"", ",", "said", "Carl", "Balezentis", ",", "President", "of", "Enzo", "Life", "Sciences", "\"", "Assay", "Designs", "has", "annual", "revenues", "exceeding", "$", "11 million", ".", "Its", "research", "product", "line", "which", "has", "a", "strong", "market", "and", "brand", "position", "provides", "an", "effective", "complement", "to", "those", "products", "produced", "and", "marketed", "globally", "by", "Enzo", "Life", "Sciences", "under", "the", "Alexis", "and", "Biomol", "brands", ",", "and", "which", "lends", "itself", "to", "benefit", "from", "our", "Company", "'s", "growing", "international", "marketing", "and", "sales", "capabilities", "in", "the", "life", "sciences", "field", ".", "Assay", "Designs", "also", "provides", "us", "with", "vast", "experience", "in", "protein", ",", "antibody", "and", "immunoassay", "development", ",", "and", "manufacturing", "\"", "\"", "Joining", "with", "Enzo", "Life", "Sciences", "is", "a", "natural", "progression", "for", "the", "company", "\"", "said", "Daniel", "Calvo", ",", "President", "and", "CEO", "of", "Assay", "Designs", ".", "\"", "Their", "complementary", "product", "lines", "and", "global", "infrastructure", "will", "enable", "Assay", "Designs", "to", "achieve", "accelerated", "growth", "and", "a", "stronger", "market", "position", "than", "can", "be", "accomplished", "as", "a", "standalone", "company", ".", "We", "look", "forward", "to", "participating", "in", "Enzo", "'s", "on", "-", "going", "expansion", "as", "a", "leader", "in", "the", "life", "sciences", "and", "improving", "our", "position", "within", "the", "international", "scientific", "community", "\"", ".", "\"", "The", "acquisition", "of", "Assay", "Designs", "represents", "another", "step", "forward", "for", "Enzo", "Biochem", ",", "which", "now", "will", "be", "approaching", "$", "100 million", "in", "annual", "revenues", "\"", ",", "said", "Barry", "Weiner", ",", "President", "of", "Enzo", "Biochem", ",", "Inc", ".", "\"", "Moreover", ",", "it", "underscores", "our", "strategies", "to", "position", "Enzo", "in", "the", "rapidly", "developing", "fields", "of", "scientific", "and", "medical", "research", "and", "diagnostics", ",", "where", "the", "practice", "of", "medicine", "is", "inevitably", "headed", ".", "Bringing", "healthcare", "EXHIBIT", "99", ".", "1", "costs", "down", "is", "now", "a", "global", "priority", ".", "At", "the", "forefront", "of", "this", "effort", "will", "be", "programs", "to", "identify", "illnesses", "long", "before", "they", "become", "critical", "and", "require", "extended", "treatment", "and", "hospital", "stays", ".", "Enzo", "Life", "Sciences", "now", "reaches", "a", "very", "broad", "market", "focused", "on", "these", "programs", ",", "and", "along", "with", "the", "practical", "applications", "available", "through", "Enzo", "Clinical", "Labs", ",", "and", "our", "IP", "base", ",", "our", "Company", "is", "uniquely", "positioned", "to", "participate", "in", "this", "important", "effort", "\"", ".", "Assay", "Design", "'s", "senior", "management", "will", "remain", "actively", "involved", "with", "Enzo", "Life", "Sciences", ".", "With", "this", "latest", "acquisition", ",", "Enzo", "Life", "Sciences", "now", "has", "US", "operations", "in", "New", "York", ",", "Pennsylvania", ",", "Michigan", "and", "California", ",", "and", "overseas", "facilities", "in", "Switzerland", ",", "the", "UK", "and", "Belgium", ",", "as", "well", "as", "more", "than", "50", "distributors", "worldwide", ".", "About", "Enzo", "Enzo", "Biochem", "is", "engaged", "in", "the", "research", ",", "development", ",", "manufacture", "and", "licensing", "of", "innovative", "health", "care", "products", "and", "technologies", "based", "on", "molecular", "biology", "and", "genetic", "engineering", "techniques", ",", "and", "in", "providing", "diagnostic", "services", "to", "the", "medical", "community", ".", "Enzo", "'s", "Life", "Sciences", "division", "develops", ",", "produces", "and", "markets", "proprietary", "labeling", "and", "detection", "products", "for", "gene", "sequencing", ",", "genetic", "analysis", "and", "immunological", "research", "among", "others", ".", "Its", "catalog", "of", "over", "33,000", "products", "serves", "the", "molecular", "biology", ",", "drug", "discovery", "and", "pathology", "research", "markets", ".", "The", "Company", "'s", "therapeutic", "division", "is", "in", "various", "stages", "of", "clinical", "evaluation", "of", "its", "proprietary", "immune", "regulation", "medicines", "for", "uveitis", "and", "Crohn", "'", "s", "Disease", "and", "conducts", "pre", "-", "clinical", "research", "on", "several", "candidate", "compounds", "aimed", "at", "producing", "new", "mineral", "and", "organic", "bone", ",", "including", "technology", "that", "could", "provide", "therapy", "for", "osteoporosis", "and", "fractures", ",", "among", "other", "applications", ".", "Enzo", "'s", "Clinical", "Labs", "division", "provides", "routine", "and", "esoteric", "reference", "laboratory", "services", "for", "physicians", "in", "the", "New", "York", "Metropolitan", "and", "New", "Jersey", "areas", ".", "Underpinning", "the", "Company", "'s", "technology", "and", "operations", "is", "an", "extensive", "intellectual", "property", "estate", "in", "which", "Enzo", "owns", "or", "licenses", "over", "230", "patents", "worldwide", ",", "and", "has", "pending", "applications", "for", "over", "200", "more", ".", "For", "more", "information", "visit", "our", "website", "www.enzo.com", ".", "Except", "for", "historical", "information", ",", "the", "matters", "discussed", "in", "this", "news", "release", "may", "be", "considered", "\"", "forward", "-", "looking", "\"", "statements", "within", "the", "meaning", "of", "Section", "27A", "of", "the", "Securities", "Act", "of", "1933", ",", "as", "amended", "and", "Section", "21E", "of", "the", "Securities", "Exchange", "Act", "of", "1934", ",", "as", "amended", ".", "Such", "statements", "include", "declarations", "regarding", "the", "intent", ",", "belief", "or", "current", "expectations", "of", "the", "Company", "and", "its", "management", ".", "Investors", "are", "cautioned", "that", "any", "such", "forward", "-", "looking", "statements", "are", "not", "guarantees", "of", "future", "performance", "and", "involve", "a", "number", "of", "risks", "and", "uncertainties", "that", "could", "materially", "affect", "actual", "results", ".", "The", "Company", "disclaims", "any", "obligations", "to", "update", "any", "forward", "-", "looking", "statement", "as", "a", "result", "of", "developments", "occurring", "after", "the", "date", "of", "this", "press", "release", ".", "#", "#", "#", "Contact", ":", "For", ":", "Enzo", "Biochem", ",", "Inc", ".", "Steven", "Anreder", ",", "212", "-", "532", "-", "3232", "Or", "Michael", "Wachs", ",", "CEOcast", ",", "Inc", ".", ",", "212", "-", "732", "-", "4300" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Generic_Info.ANNUAL_REVENUES", "I-Generic_Info.ANNUAL_REVENUES", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Generic_Info.ANNUAL_REVENUES", "I-Generic_Info.ANNUAL_REVENUES", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1717556-000114420418048323-tv502424_ex99-1
EX-99.1 4 tv502424_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Xspand Products Lab Announces Closing of Edison Nation, LLC Acquisition Management to Host Virtual Webinar on September 17 th at 4:30 p.m. Eastern Time to Provide a Corporate Update and Present an Overview of the Business Model PHILLIPSBURG, N.J., September 5, 2018 - Xspand Products Lab, Inc. ("Xspand") (the "Company"), a full-service product development company, has closed the previously announced acquisition of the Company's strategic partner, Edison Nation LLC ("Edison Nation"), for total consideration of $950,000 and 990,000 shares of common stock. Edison Nation is a consumer product development consulting firm that helps independent innovators commercialize their ideas and inventions, leveraging its proprietary lead-generation platform. Using this business model, Edison Nation offers a capital-lite, high-reward process that accelerates product development timelines and significantly reduces research and development expenses. To-date, Edison Nation has invested over $11.0 million in its proprietary platform, which aggregates innovation from its established user base of hundreds of thousands of innovators from over 200 countries. The Edison Nation community has generated over 100,000 idea submissions, resulting in over $250 million in retail sales to date. Edison Nation has partnered with companies such as Amazon, Bed Bath & Beyond, Walmart, Rite Aid, P&G, BLACK+DECKER and many more to launch over 300 innovation searches. Click here for a brief video interview discussing the recently closed acquisition with Chris Ferguson, Founder and CEO of Xspand Products Lab, and Louis Foreman, Founder and CEO of Edison Nation. "We are pleased to announce the closing of the acquisition of Edison Nation", said Chris Ferguson, Chief Executive Officer of Xspand Products Lab. "Edison Nation is the leader in crowdsourced innovation, which will enable us to fully leverage our established operating infrastructure to form a true full-service product development platform, creating value for both innovators and our shareholders alike. I remain fully confident in the ability of our combined company to become a driving force behind the next wave of internationally recognized products. We look forward to providing further updates and an overview of our business model on our virtual corporate update webinar on September 17 th ", concluded Ferguson. Corporate Update Webinar Xspand's management will host a virtual webinar on Monday, September 17, 2018 at 4:30 p.m. Eastern time (1:30 p.m. Pacific time). Management will address the closing of the Edison Nation, LLC acquisition, as well as present an overview of the business model, growth initiatives and key milestones. The call will be accompanied by a presentation which can be accessed via the webcast link below. Chris Ferguson, CEO, will host the call followed by a question and answer session. To access the call, please use the following information: Date: Monday, September 17, 2018 Time: 4:30 p.m. Eastern time Dial-in: 1-800-289-0438 International Dial-in: 1-323-794-2423 Conference Code: 1612194 Webcast: http://public.viavid.com/index.php?id=131185 A telephone replay will be available approximately two hours after the call and will run through October 17, 2018 by dialing 1-844-512-2921 from the U.S., or 1-412-317-6671 from international locations, and entering replay pin number: 1612194. About Edison Nation, LLC Since 2008, Edison Nation has been the go-to resource for independent innovators with great consumer product invention ideas. The company is the only innovation partner with multiple commercialization channels to bring new product ideas - from sketches, to proof of concept prototypes and late-stage inventions - to consumers worldwide. The community platform has generated hundreds of millions at retail. The company is committed to bringing new consumer innovation to market through its secure and proprietary platform found at www.EdisonNation.com . About Xspand Products Lab, Inc. Xspand Products Lab, Inc. is a vertically integrated and full-service product development and manufacturing company, including design, sales, fulfillment and shipping. Xspand's model is to provide a risk mitigated platform that connects innovators with companies to bring new products to market. For more information, please visit www.xspandproductslab.com . Safe Harbor This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations and plans, including assumptions underlying such statements, are forward-looking statements, and should not be relied upon as representing Xspand's views as of any subsequent date. Such forward-looking statements are based on information available to Xspand as of the date of this release and involve a number of risks and uncertainties, some beyond Xspand's control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including consumer, regulatory and other factors affecting demand for Xspand's products, any difficulty in marketing Xspand's products in global markets, competition in the market for consumer products, any inability to raise capital to fund operations and service Xspand's debt. Additional information that could lead to material changes in Xspand's performance is contained in its filings with the SEC. Xspand is under no obligation to, and expressly disclaims any responsibility to, update or alter forward-looking statements contained in this release, whether as a result of new information, future events or otherwise. Investor Relations Contact: Greg Falesnik Managing Director MZ North America Direct: 949-385-6449 [email protected]
[ "EX", "-", "99", ".", "1", "4", "tv502424", "_", "ex99", "-", "1", ".", "htm", "EXHIBIT", "99", ".", "1", "Exhibit", "99", ".", "1", "Xspand", "Products", "Lab", "Announces", "Closing", "of", "Edison", "Nation", ",", "LLC", "Acquisition", "Management", "to", "Host", "Virtual", "Webinar", "on", "September", "17", "th", "at", "4", ":", "30", "p.m.", "Eastern Time", "to", "Provide", "a", "Corporate", "Update", "and", "Present", "an", "Overview", "of", "the", "Business", "Model", "PHILLIPSBURG", ",", "N", ".", "J", ".", ",", "September", "5", ",", "2018", "-", "Xspand", "Products", "Lab", ",", "Inc", ".", "(", "\"", "Xspand", "\"", ")", "(", "the", "\"", "Company", "\"", ")", ",", "a", "full", "-", "service", "product", "development", "company", ",", "has", "closed", "the", "previously", "announced", "acquisition", "of", "the", "Company", "'s", "strategic", "partner", ",", "Edison", "Nation", "LLC", "(", "\"", "Edison", "Nation", "\"", ")", ",", "for", "total", "consideration", "of", "$", "950,000", "and", "990,000", "shares", "of", "common", "stock", ".", "Edison", "Nation", "is", "a", "consumer", "product", "development", "consulting", "firm", "that", "helps", "independent", "innovators", "commercialize", "their", "ideas", "and", "inventions", ",", "leveraging", "its", "proprietary", "lead", "-", "generation", "platform", ".", "Using", "this", "business", "model", ",", "Edison", "Nation", "offers", "a", "capital", "-", "lite", ",", "high", "-", "reward", "process", "that", "accelerates", "product", "development", "timelines", "and", "significantly", "reduces", "research", "and", "development", "expenses", ".", "To", "-", "date", ",", "Edison", "Nation", "has", "invested", "over", "$", "11.0 million", "in", "its", "proprietary", "platform", ",", "which", "aggregates", "innovation", "from", "its", "established", "user", "base", "of", "hundreds", "of", "thousands", "of", "innovators", "from", "over", "200", "countries", ".", "The", "Edison", "Nation", "community", "has", "generated", "over", "100,000", "idea", "submissions", ",", "resulting", "in", "over", "$", "250 million", "in", "retail", "sales", "to", "date", ".", "Edison", "Nation", "has", "partnered", "with", "companies", "such", "as", "Amazon", ",", "Bed", "Bath", "&", "Beyond", ",", "Walmart", ",", "Rite", "Aid", ",", "P", "&", "G", ",", "BLACK", "+", "DECKER", "and", "many", "more", "to", "launch", "over", "300", "innovation", "searches", ".", "Click", "here", "for", "a", "brief", "video", "interview", "discussing", "the", "recently", "closed", "acquisition", "with", "Chris", "Ferguson", ",", "Founder", "and", "CEO", "of", "Xspand", "Products", "Lab", ",", "and", "Louis", "Foreman", ",", "Founder", "and", "CEO", "of", "Edison", "Nation", ".", "\"", "We", "are", "pleased", "to", "announce", "the", "closing", "of", "the", "acquisition", "of", "Edison", "Nation", "\"", ",", "said", "Chris", "Ferguson", ",", "Chief", "Executive", "Officer", "of", "Xspand", "Products", "Lab", ".", "\"", "Edison", "Nation", "is", "the", "leader", "in", "crowdsourced", "innovation", ",", "which", "will", "enable", "us", "to", "fully", "leverage", "our", "established", "operating", "infrastructure", "to", "form", "a", "true", "full", "-", "service", "product", "development", "platform", ",", "creating", "value", "for", "both", "innovators", "and", "our", "shareholders", "alike", ".", "I", "remain", "fully", "confident", "in", "the", "ability", "of", "our", "combined", "company", "to", "become", "a", "driving", "force", "behind", "the", "next", "wave", "of", "internationally", "recognized", "products", ".", "We", "look", "forward", "to", "providing", "further", "updates", "and", "an", "overview", "of", "our", "business", "model", "on", "our", "virtual", "corporate", "update", "webinar", "on", "September", "17", "th", "\"", ",", "concluded", "Ferguson", ".", "Corporate", "Update", "Webinar", "Xspand", "'s", "management", "will", "host", "a", "virtual", "webinar", "on", "Monday", ",", "September", "17", ",", "2018", "at", "4", ":", "30", "p.m.", "Eastern time", "(", "1", ":", "30", "p.m.", "Pacific time", ")", ".", "Management", "will", "address", "the", "closing", "of", "the", "Edison", "Nation", ",", "LLC", "acquisition", ",", "as", "well", "as", "present", "an", "overview", "of", "the", "business", "model", ",", "growth", "initiatives", "and", "key", "milestones", ".", "The", "call", "will", "be", "accompanied", "by", "a", "presentation", "which", "can", "be", "accessed", "via", "the", "webcast", "link", "below", ".", "Chris", "Ferguson", ",", "CEO", ",", "will", "host", "the", "call", "followed", "by", "a", "question", "and", "answer", "session", ".", "To", "access", "the", "call", ",", "please", "use", "the", "following", "information", ":", "Date", ":", "Monday", ",", "September", "17", ",", "2018", "Time", ":", "4", ":", "30", "p.m.", "Eastern time", "Dial", "-", "in", ":", "1", "-", "800", "-", "289", "-", "0438", "International", "Dial", "-", "in", ":", "1", "-", "323", "-", "794", "-", "2423", "Conference", "Code", ":", "1612194", "Webcast", ":", "http://public.viavid.com/index.php?id=131185", "A", "telephone", "replay", "will", "be", "available", "approximately", "two", "hours", "after", "the", "call", "and", "will", "run", "through", "October", "17", ",", "2018", "by", "dialing", "1", "-", "844", "-", "512", "-", "2921", "from", "the", "U", ".", "S", ".", ",", "or", "1", "-", "412", "-", "317", "-", "6671", "from", "international", "locations", ",", "and", "entering", "replay", "pin", "number", ":", "1612194", ".", "About", "Edison", "Nation", ",", "LLC", "Since", "2008", ",", "Edison", "Nation", "has", "been", "the", "go", "-", "to", "resource", "for", "independent", "innovators", "with", "great", "consumer", "product", "invention", "ideas", ".", "The", "company", "is", "the", "only", "innovation", "partner", "with", "multiple", "commercialization", "channels", "to", "bring", "new", "product", "ideas", "-", "from", "sketches", ",", "to", "proof", "of", "concept", "prototypes", "and", "late", "-", "stage", "inventions", "-", "to", "consumers", "worldwide", ".", "The", "community", "platform", "has", "generated", "hundreds", "of", "millions", "at", "retail", ".", "The", "company", "is", "committed", "to", "bringing", "new", "consumer", "innovation", "to", "market", "through", "its", "secure", "and", "proprietary", "platform", "found", "at", "www.EdisonNation.com", ".", "About", "Xspand", "Products", "Lab", ",", "Inc", ".", "Xspand", "Products", "Lab", ",", "Inc", ".", "is", "a", "vertically", "integrated", "and", "full", "-", "service", "product", "development", "and", "manufacturing", "company", ",", "including", "design", ",", "sales", ",", "fulfillment", "and", "shipping", ".", "Xspand", "'s", "model", "is", "to", "provide", "a", "risk", "mitigated", "platform", "that", "connects", "innovators", "with", "companies", "to", "bring", "new", "products", "to", "market", ".", "For", "more", "information", ",", "please", "visit", "www.xspandproductslab.com", ".", "Safe", "Harbor", "This", "press", "release", "contains", "forward", "-", "looking", "statements", "that", "involve", "substantial", "risks", "and", "uncertainties", ".", "All", "statements", ",", "other", "than", "statements", "of", "historical", "facts", ",", "included", "in", "this", "press", "release", "regarding", "strategy", ",", "future", "operations", "and", "plans", ",", "including", "assumptions", "underlying", "such", "statements", ",", "are", "forward", "-", "looking", "statements", ",", "and", "should", "not", "be", "relied", "upon", "as", "representing", "Xspand", "'s", "views", "as", "of", "any", "subsequent", "date", ".", "Such", "forward", "-", "looking", "statements", "are", "based", "on", "information", "available", "to", "Xspand", "as", "of", "the", "date", "of", "this", "release", "and", "involve", "a", "number", "of", "risks", "and", "uncertainties", ",", "some", "beyond", "Xspand", "'s", "control", ",", "that", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "anticipated", "by", "these", "forward", "-", "looking", "statements", ",", "including", "consumer", ",", "regulatory", "and", "other", "factors", "affecting", "demand", "for", "Xspand", "'s", "products", ",", "any", "difficulty", "in", "marketing", "Xspand", "'s", "products", "in", "global", "markets", ",", "competition", "in", "the", "market", "for", "consumer", "products", ",", "any", "inability", "to", "raise", "capital", "to", "fund", "operations", "and", "service", "Xspand", "'s", "debt", ".", "Additional", "information", "that", "could", "lead", "to", "material", "changes", "in", "Xspand", "'s", "performance", "is", "contained", "in", "its", "filings", "with", "the", "SEC", ".", "Xspand", "is", "under", "no", "obligation", "to", ",", "and", "expressly", "disclaims", "any", "responsibility", "to", ",", "update", "or", "alter", "forward", "-", "looking", "statements", "contained", "in", "this", "release", ",", "whether", "as", "a", "result", "of", "new", "information", ",", "future", "events", "or", "otherwise", ".", "Investor", "Relations", "Contact", ":", "Greg", "Falesnik", "Managing", "Director", "MZ", "North", "America", "Direct", ":", "949", "-", "385", "-", "6449", "[email protected]" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1140102-000119380519000885-e619101_ex99-1
EX-99.1 2 e619101_ex99-1.htm HireQuest Announces Rapid Progress on Strategic Initiatives Closes Sale of Four California Locations; Completes Conversion of All Remaining Branches to Franchise Model GOOSE CREEK, South Carolina - October 1, 2019 - HireQuest, Inc. (Nasdaq: HQI), a national provider of back-office and operational support for franchised operators of on-demand and temporary staffing service providers across the United States, today reported that it has completed the sale of its four locations in California and the conversion of its remaining branches to its franchise business model. "Our team worked expeditiously to gain state regulatory approvals and convert the acquired Command Center branches to our franchise business model within 10 weeks following our merger", commented Rick Hermanns, HireQuest's President and Chief Executive Officer. "We believe that this move lowers operational risk. We expect our franchise owners and operators will also benefit from the unique financing and risk management structures we provide. We also believe that both HireQuest and its franchisees will see enhanced growth rates at our newly franchised locations due to the financial incentives inherent in our model. Integration and rationalization of expenses is on-going as we continue to identify opportunities for long-term growth and increased profitability across our platform. Integration expenses and non-recurring charges related to these activities are expected in the coming periods". In addition, the Company announced that it has completed the sale of its four locations in California to Resolute Enterprises, LLC for $1.8 million. Under the terms of the sale agreement, HireQuest is providing seller financing and has received a four-year promissory note with a face value of $1.8 million at 10% interest per annum. "We believe that we are now positioned to grow, by expanding our national footprint, through select, accretive acquisitions and by broadening our participation with national accounts", added Mr. Hermanns. About HireQuest HireQuest, Inc. provides back-office and operational support for HireQuest Direct and HireQuest franchised branch locations across the United States. Through its nationwide network of more than 140 franchised offices in 30 states and the District of Columbia, the Company provides employment annually for approximately 85,000 field team members working for thousands of customers, primarily in the areas of construction, light industrial, manufacturing, hospitality, and event services. For more information, visit www.hirequestllc.com . Important Cautions Regarding Forward-Looking Statements This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are not statements of historical facts, including statements on HireQuest's strategy (including with respect to acquisitions, geographic expansion and broadening participation with national accounts), and on expected growth, reduction of operational risk, and benefits for its franchisees. Generally, the words "intend", "expect", "anticipate," "estimate", "continue", "will", "could", "may" and similar expressions identify forward-looking statements. These statements are subject to uncertainties and risks, including, but not limited to, national, regional and local economic conditions, the availability of workers' compensation insurance coverage, the availability of capital and suitable financing for the Company's activities, our franchisees' ability to attract, develop and retain qualified store managers and other personnel, product and service demand and acceptance, changes in technology, the impact of competition and pricing, government regulation, and other risks set forth in our most recent reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission, copies of which are available on our website at www.hirequestllc.com and the SEC website at www.sec.gov . All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof, except as required by law. Company Contact : Investor Relations Contact : HireQuest, Inc. Hayden IR Cory Smith, CFO Brett Maas (866) 464-5844 (646) 536-7331 Email: [email protected] Email: [email protected]
[ "EX", "-", "99", ".", "1", "2", "e619101", "_", "ex99", "-", "1", ".", "htm", "HireQuest", "Announces", "Rapid", "Progress", "on", "Strategic", "Initiatives", "Closes", "Sale", "of", "Four", "California", "Locations", ";", "Completes", "Conversion", "of", "All", "Remaining", "Branches", "to", "Franchise", "Model", "GOOSE", "CREEK", ",", "South", "Carolina", "-", "October", "1", ",", "2019", "-", "HireQuest", ",", "Inc", ".", "(", "Nasdaq", ":", "HQI", ")", ",", "a", "national", "provider", "of", "back", "-", "office", "and", "operational", "support", "for", "franchised", "operators", "of", "on", "-", "demand", "and", "temporary", "staffing", "service", "providers", "across", "the", "United", "States", ",", "today", "reported", "that", "it", "has", "completed", "the", "sale", "of", "its", "four", "locations", "in", "California", "and", "the", "conversion", "of", "its", "remaining", "branches", "to", "its", "franchise", "business", "model", ".", "\"", "Our", "team", "worked", "expeditiously", "to", "gain", "state", "regulatory", "approvals", "and", "convert", "the", "acquired", "Command", "Center", "branches", "to", "our", "franchise", "business", "model", "within", "10", "weeks", "following", "our", "merger", "\"", ",", "commented", "Rick", "Hermanns", ",", "HireQuest", "'s", "President", "and", "Chief", "Executive", "Officer", ".", "\"", "We", "believe", "that", "this", "move", "lowers", "operational", "risk", ".", "We", "expect", "our", "franchise", "owners", "and", "operators", "will", "also", "benefit", "from", "the", "unique", "financing", "and", "risk", "management", "structures", "we", "provide", ".", "We", "also", "believe", "that", "both", "HireQuest", "and", "its", "franchisees", "will", "see", "enhanced", "growth", "rates", "at", "our", "newly", "franchised", "locations", "due", "to", "the", "financial", "incentives", "inherent", "in", "our", "model", ".", "Integration", "and", "rationalization", "of", "expenses", "is", "on", "-", "going", "as", "we", "continue", "to", "identify", "opportunities", "for", "long", "-", "term", "growth", "and", "increased", "profitability", "across", "our", "platform", ".", "Integration", "expenses", "and", "non", "-", "recurring", "charges", "related", "to", "these", "activities", "are", "expected", "in", "the", "coming", "periods", "\"", ".", "In", "addition", ",", "the", "Company", "announced", "that", "it", "has", "completed", "the", "sale", "of", "its", "four", "locations", "in", "California", "to", "Resolute", "Enterprises", ",", "LLC", "for", "$", "1.8 million", ".", "Under", "the", "terms", "of", "the", "sale", "agreement", ",", "HireQuest", "is", "providing", "seller", "financing", "and", "has", "received", "a", "four", "-", "year", "promissory", "note", "with", "a", "face", "value", "of", "$", "1.8", "million", "at", "10", "%", "interest", "per", "annum", ".", "\"", "We", "believe", "that", "we", "are", "now", "positioned", "to", "grow", ",", "by", "expanding", "our", "national", "footprint", ",", "through", "select", ",", "accretive", "acquisitions", "and", "by", "broadening", "our", "participation", "with", "national", "accounts", "\"", ",", "added", "Mr", ".", "Hermanns", ".", "About", "HireQuest", "HireQuest", ",", "Inc", ".", "provides", "back", "-", "office", "and", "operational", "support", "for", "HireQuest", "Direct", "and", "HireQuest", "franchised", "branch", "locations", "across", "the", "United", "States", ".", "Through", "its", "nationwide", "network", "of", "more", "than", "140", "franchised", "offices", "in", "30", "states", "and", "the", "District", "of", "Columbia", ",", "the", "Company", "provides", "employment", "annually", "for", "approximately", "85,000", "field", "team", "members", "working", "for", "thousands", "of", "customers", ",", "primarily", "in", "the", "areas", "of", "construction", ",", "light", "industrial", ",", "manufacturing", ",", "hospitality", ",", "and", "event", "services", ".", "For", "more", "information", ",", "visit", "www.hirequestllc.com", ".", "Important", "Cautions", "Regarding", "Forward", "-", "Looking", "Statements", "This", "news", "release", "contains", "forward", "-", "looking", "statements", "as", "defined", "by", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "Forward", "-", "looking", "statements", "include", "statements", "concerning", "plans", ",", "objectives", ",", "goals", ",", "strategies", ",", "future", "events", "or", "performance", ",", "and", "underlying", "assumptions", "and", "other", "statements", "that", "are", "not", "statements", "of", "historical", "facts", ",", "including", "statements", "on", "HireQuest", "'s", "strategy", "(", "including", "with", "respect", "to", "acquisitions", ",", "geographic", "expansion", "and", "broadening", "participation", "with", "national", "accounts", ")", ",", "and", "on", "expected", "growth", ",", "reduction", "of", "operational", "risk", ",", "and", "benefits", "for", "its", "franchisees", ".", "Generally", ",", "the", "words", "\"", "intend", "\"", ",", "\"", "expect", "\"", ",", "\"", "anticipate", ",", "\"", "\"", "estimate", "\"", ",", "\"", "continue", "\"", ",", "\"", "will", "\"", ",", "\"", "could", "\"", ",", "\"", "may", "\"", "and", "similar", "expressions", "identify", "forward", "-", "looking", "statements", ".", "These", "statements", "are", "subject", "to", "uncertainties", "and", "risks", ",", "including", ",", "but", "not", "limited", "to", ",", "national", ",", "regional", "and", "local", "economic", "conditions", ",", "the", "availability", "of", "workers", "'", "compensation", "insurance", "coverage", ",", "the", "availability", "of", "capital", "and", "suitable", "financing", "for", "the", "Company", "'s", "activities", ",", "our", "franchisees", "'", "ability", "to", "attract", ",", "develop", "and", "retain", "qualified", "store", "managers", "and", "other", "personnel", ",", "product", "and", "service", "demand", "and", "acceptance", ",", "changes", "in", "technology", ",", "the", "impact", "of", "competition", "and", "pricing", ",", "government", "regulation", ",", "and", "other", "risks", "set", "forth", "in", "our", "most", "recent", "reports", "on", "Forms", "10", "-", "K", "and", "10", "-", "Q", "filed", "with", "the", "Securities", "and", "Exchange", "Commission", ",", "copies", "of", "which", "are", "available", "on", "our", "website", "at", "www.hirequestllc.com", "and", "the", "SEC", "website", "at", "www.sec.gov", ".", "All", "such", "forward", "-", "looking", "statements", ",", "whether", "written", "or", "oral", ",", "and", "whether", "made", "by", "or", "on", "behalf", "of", "the", "Company", ",", "are", "expressly", "qualified", "by", "these", "cautionary", "statements", "and", "any", "other", "cautionary", "statements", "which", "may", "accompany", "the", "forward", "-", "looking", "statements", ".", "In", "addition", ",", "the", "Company", "disclaims", "any", "obligation", "to", "update", "any", "forward", "-", "looking", "statements", "to", "reflect", "events", "or", "circumstances", "after", "the", "date", "hereof", ",", "except", "as", "required", "by", "law", ".", "Company", "Contact", ":", "Investor", "Relations", "Contact", ":", "HireQuest", ",", "Inc", ".", "Hayden", "IR", "Cory", "Smith", ",", "CFO", "Brett", "Maas", "(", "866", ")", "464", "-", "5844", "(", "646", ")", "536", "-", "7331", "Email", ":", "[email protected]", "Email", ":", "[email protected]" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
722079-000136231007002272-c71240exv99w1
EX-99.1 2 c71240exv99w1.htm EXHIBIT 99.1 Filed by Bowne Pure Compliance Exhibit 99.1 Terra Industries Inc. 600 Fourth Street P.O. Box 6000 Sioux City, IA 51102-6000 Telephone: (712) 277-1340 Telefax: (712) 277-7383 www.terraindustries.com NEWS For immediate release Contact: Joe Ewing (712) 277-7305 [email protected] Completion of UK joint venture between Terra Industries Inc. and Kemira GrowHow Oyj Sioux City, Iowa (September 14, 2007)-Terra Industries Inc. (NYSE: TRA) and Kemira GrowHow Oyj (OMX: KGH1V) are pleased to confirm the formation of a joint venture company, GrowHow UK Limited, combining their fertilizer and associated process chemicals businesses in the United Kingdom and the Republic of Ireland. Completion of the joint venture follows confirmation from the UK Competition Commission that it has concluded its review and approved the transaction. The move is designed to secure a sustainable, long-term base for manufacturing fertilizer and process chemicals in the UK. The combined business will produce ammonium nitrate, which is the main nitrogen fertilizer consumed in the UK as well as compound fertilizers to service both the UK and Ireland markets. Mike Bennett, President and CEO of Terra Industries Inc. ("Terra") said, "We are pleased that the Competition Commission has concluded its review and approved the formation of our joint venture. It will enable us to continue to provide high quality products and services to our customers, and will significantly expand our opportunities. By securing a long-term manufacturing base in the UK, we are investing in the future". Heikki Sirvio, CEO of Kemira GrowHow Oyj ("Kemira GrowHow"), said, "Our new joint venture will position our combined UK fertilizer and process chemicals operations to achieve long-term success by reducing overheads and allowing us to optimize our product mix. We are pleased that the Competition Commission has approved the joint venture and would like to thank our customers and other stakeholders for their support during the review". GrowHow UK Limited will be owned 50/50 by Kemira GrowHow and Terra and will include Kemira GrowHow's site at Ince, and Terra's sites on Teesside and Severnside. The annual turnover of the operations included in the joint venture exceeded 500 million euros in 2006. Through the joint venture, Kemira GrowHow and Terra expect to create significant cost and operational synergies to enhance their ability to service and compete in increasingly challenging markets. Kemira GrowHow UK Limited is the largest UK producer of compound fertilizers and Terra Nitrogen (UK) Limited is the largest UK producer of ammonium nitrate. Lazard is acting as financial adviser to Terra. Lehman Brothers is acting as financial adviser to Kemira GrowHow. -more- For additional information please contact: In Sioux City: Joe Ewing, Terra: +1 712 277 7305 In Helsinki: Kaj Friman, Kemira GrowHow: +358 50 62 626 In London: Dominic Fry and Susanna Voyle, Tulchan Communications: +44 20 7353 4200 In New York: Matthew Sherman, Joele Frank, Wilkinson Brimmer Katcher: +1 212 355 4449 About Terra Terra Industries Inc., with 2006 revenues of $1.8 billion, is a leading international producer of nitrogen products. It employs approximately 1,200 people in North America and the UK and is listed on the New York Stock Exchange. About Kemira GrowHow Kemira GrowHow Oyj is one of the leading producers of fertilizer and feed phosphates in Europe. Kemira GrowHow develops and markets fertilizers and integrated solutions for crop cultivation, animal feed supplements and chemicals required in various industries. The group has approximately 2,500 employees worldwide and in 2006 net sales were 1.2 billion euros. Kemira GrowHow Oyj is listed on the Helsinki Stock Exchange. Forward-looking statements This news release may contain forward-looking statements, which involve inherent risks and uncertainties. Statements that are not historical facts, including statements about Terra Industries Inc.'s beliefs, plans or expectations, are forward-looking statements. These statements are based on current plans, estimates and expectations. Actual results may differ materially from those projected in such forward-looking statements and therefore you should not place undue reliance on them. A non-exclusive list of the important factors that could cause actual results to differ materially from those in such forward-looking statements is set forth in Terra Industries Inc.'s most recent report on Form 10-K and Terra Industries Inc.'s other documents on file with the Securities and Exchange Commission. Terra Industries Inc. undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. # # # Note: Terra Industries' news announcements are also available on its website, www.terraindustries.com.
[ "EX", "-", "99", ".", "1", "2", "c71240exv99w1", ".", "htm", "EXHIBIT", "99", ".", "1", "Filed", "by", "Bowne", "Pure", "Compliance", "Exhibit", "99", ".", "1", "Terra", "Industries", "Inc", ".", "600", "Fourth", "Street", "P.O. Box", "6000", "Sioux", "City", ",", "IA", "51102", "-", "6000", "Telephone", ":", "(", "712", ")", "277", "-", "1340", "Telefax", ":", "(", "712", ")", "277", "-", "7383", "www.terraindustries.com", "NEWS", "For", "immediate", "release", "Contact", ":", "Joe", "Ewing", "(", "712", ")", "277", "-", "7305", "[email protected]", "Completion", "of", "UK", "joint", "venture", "between", "Terra", "Industries", "Inc", ".", "and", "Kemira", "GrowHow", "Oyj", "Sioux", "City", ",", "Iowa", "(", "September", "14", ",", "2007", ")", "-", "Terra", "Industries", "Inc", ".", "(", "NYSE", ":", "TRA", ")", "and", "Kemira", "GrowHow", "Oyj", "(", "OMX", ":", "KGH1V", ")", "are", "pleased", "to", "confirm", "the", "formation", "of", "a", "joint", "venture", "company", ",", "GrowHow", "UK", "Limited", ",", "combining", "their", "fertilizer", "and", "associated", "process", "chemicals", "businesses", "in", "the", "United", "Kingdom", "and", "the", "Republic", "of", "Ireland", ".", "Completion", "of", "the", "joint", "venture", "follows", "confirmation", "from", "the", "UK", "Competition", "Commission", "that", "it", "has", "concluded", "its", "review", "and", "approved", "the", "transaction", ".", "The", "move", "is", "designed", "to", "secure", "a", "sustainable", ",", "long", "-", "term", "base", "for", "manufacturing", "fertilizer", "and", "process", "chemicals", "in", "the", "UK", ".", "The", "combined", "business", "will", "produce", "ammonium", "nitrate", ",", "which", "is", "the", "main", "nitrogen", "fertilizer", "consumed", "in", "the", "UK", "as", "well", "as", "compound", "fertilizers", "to", "service", "both", "the", "UK", "and", "Ireland", "markets", ".", "Mike", "Bennett", ",", "President", "and", "CEO", "of", "Terra", "Industries", "Inc", ".", "(", "\"", "Terra", "\"", ")", "said", ",", "\"", "We", "are", "pleased", "that", "the", "Competition", "Commission", "has", "concluded", "its", "review", "and", "approved", "the", "formation", "of", "our", "joint", "venture", ".", "It", "will", "enable", "us", "to", "continue", "to", "provide", "high", "quality", "products", "and", "services", "to", "our", "customers", ",", "and", "will", "significantly", "expand", "our", "opportunities", ".", "By", "securing", "a", "long", "-", "term", "manufacturing", "base", "in", "the", "UK", ",", "we", "are", "investing", "in", "the", "future", "\"", ".", "Heikki", "Sirvio", ",", "CEO", "of", "Kemira", "GrowHow", "Oyj", "(", "\"", "Kemira", "GrowHow", "\"", ")", ",", "said", ",", "\"", "Our", "new", "joint", "venture", "will", "position", "our", "combined", "UK", "fertilizer", "and", "process", "chemicals", "operations", "to", "achieve", "long", "-", "term", "success", "by", "reducing", "overheads", "and", "allowing", "us", "to", "optimize", "our", "product", "mix", ".", "We", "are", "pleased", "that", "the", "Competition", "Commission", "has", "approved", "the", "joint", "venture", "and", "would", "like", "to", "thank", "our", "customers", "and", "other", "stakeholders", "for", "their", "support", "during", "the", "review", "\"", ".", "GrowHow", "UK", "Limited", "will", "be", "owned", "50", "/", "50", "by", "Kemira", "GrowHow", "and", "Terra", "and", "will", "include", "Kemira", "GrowHow", "'s", "site", "at", "Ince", ",", "and", "Terra", "'s", "sites", "on", "Teesside", "and", "Severnside", ".", "The", "annual", "turnover", "of", "the", "operations", "included", "in", "the", "joint", "venture", "exceeded", "500 million", "euros", "in", "2006", ".", "Through", "the", "joint", "venture", ",", "Kemira", "GrowHow", "and", "Terra", "expect", "to", "create", "significant", "cost", "and", "operational", "synergies", "to", "enhance", "their", "ability", "to", "service", "and", "compete", "in", "increasingly", "challenging", "markets", ".", "Kemira", "GrowHow", "UK", "Limited", "is", "the", "largest", "UK", "producer", "of", "compound", "fertilizers", "and", "Terra", "Nitrogen", "(", "UK", ")", "Limited", "is", "the", "largest", "UK", "producer", "of", "ammonium", "nitrate", ".", "Lazard", "is", "acting", "as", "financial", "adviser", "to", "Terra", ".", "Lehman", "Brothers", "is", "acting", "as", "financial", "adviser", "to", "Kemira", "GrowHow", ".", "-", "more", "-", "For", "additional", "information", "please", "contact", ":", "In", "Sioux", "City", ":", "Joe", "Ewing", ",", "Terra", ":", "+", "1", "712", "277", "7305", "In", "Helsinki", ":", "Kaj", "Friman", ",", "Kemira", "GrowHow", ":", "+", "358", "50", "62", "626", "In", "London", ":", "Dominic", "Fry", "and", "Susanna", "Voyle", ",", "Tulchan", "Communications", ":", "+", "44", "20", "7353", "4200", "In", "New", "York", ":", "Matthew", "Sherman", ",", "Joele", "Frank", ",", "Wilkinson", "Brimmer", "Katcher", ":", "+", "1", "212", "355", "4449", "About", "Terra", "Terra", "Industries", "Inc", ".", ",", "with", "2006", "revenues", "of", "$", "1.8 billion", ",", "is", "a", "leading", "international", "producer", "of", "nitrogen", "products", ".", "It", "employs", "approximately", "1,200", "people", "in", "North", "America", "and", "the", "UK", "and", "is", "listed", "on", "the", "New", "York", "Stock", "Exchange", ".", "About", "Kemira", "GrowHow", "Kemira", "GrowHow", "Oyj", "is", "one", "of", "the", "leading", "producers", "of", "fertilizer", "and", "feed", "phosphates", "in", "Europe", ".", "Kemira", "GrowHow", "develops", "and", "markets", "fertilizers", "and", "integrated", "solutions", "for", "crop", "cultivation", ",", "animal", "feed", "supplements", "and", "chemicals", "required", "in", "various", "industries", ".", "The", "group", "has", "approximately", "2,500", "employees", "worldwide", "and", "in", "2006", "net", "sales", "were", "1.2 billion", "euros", ".", "Kemira", "GrowHow", "Oyj", "is", "listed", "on", "the", "Helsinki", "Stock", "Exchange", ".", "Forward", "-", "looking", "statements", "This", "news", "release", "may", "contain", "forward", "-", "looking", "statements", ",", "which", "involve", "inherent", "risks", "and", "uncertainties", ".", "Statements", "that", "are", "not", "historical", "facts", ",", "including", "statements", "about", "Terra", "Industries", "Inc", ".", "'s", "beliefs", ",", "plans", "or", "expectations", ",", "are", "forward", "-", "looking", "statements", ".", "These", "statements", "are", "based", "on", "current", "plans", ",", "estimates", "and", "expectations", ".", "Actual", "results", "may", "differ", "materially", "from", "those", "projected", "in", "such", "forward", "-", "looking", "statements", "and", "therefore", "you", "should", "not", "place", "undue", "reliance", "on", "them", ".", "A", "non", "-", "exclusive", "list", "of", "the", "important", "factors", "that", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "in", "such", "forward", "-", "looking", "statements", "is", "set", "forth", "in", "Terra", "Industries", "Inc", ".", "'s", "most", "recent", "report", "on", "Form", "10", "-", "K", "and", "Terra", "Industries", "Inc", ".", "'s", "other", "documents", "on", "file", "with", "the", "Securities", "and", "Exchange", "Commission", ".", "Terra", "Industries", "Inc", ".", "undertakes", "no", "obligation", "to", "publicly", "update", "or", "revise", "any", "forward", "-", "looking", "statement", ",", "whether", "as", "a", "result", "of", "new", "information", ",", "future", "developments", "or", "otherwise", ".", "#", "#", "#", "Note", ":", "Terra", "Industries", "'", "news", "announcements", "are", "also", "available", "on", "its", "website", ",", "www.terraindustries.com", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Generic_Info.ANNUAL_REVENUES", "I-Generic_Info.ANNUAL_REVENUES", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Generic_Info.ANNUAL_REVENUES", "I-Generic_Info.ANNUAL_REVENUES", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
101778-000010177817000084-exhibit99-2pressreleasefor
EX-99.2 3 exhibit99-2pressreleasefor.htm EXHIBIT 99.2 PRESS RELEASE Exhibit Exhibit 99.2 Marathon Oil Closes Acquisition of Northern Delaware Acreage and Sale of Canadian Business Completes Latest Strategic Portfolio Shift to U.S. Resource Plays HOUSTON, June 1, 2017 - Marathon Oil Corporation (NYSE: MRO) announced today it has closed the acquisition of approximately 21,000 net surface acres in the Northern Delaware basin of New Mexico from Black Mountain Oil & Gas and other private sellers for $700 million, excluding closing adjustments. The effective date of this transaction is March 1, 2017. Combined with the acquisition from BC Operating, which closed May 1, Marathon Oil's total position in the Permian Basin is 91,000 net surface acres. On May 31, the Company closed on the sale of its Canadian subsidiary to Shell and Canadian Natural Resources Limited for a total transaction value of $2.5 billion in cash, excluding closing adjustments. Marathon Oil received proceeds of approximately $1.75 billion, with the remaining proceeds to be paid in first quarter 2018. The effective date of the transaction is Jan. 1, 2017. The Canadian sale includes the Company's 20 percent non-operated interest in the Athabasca Oil Sands Project (AOSP). # # # This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, including statements regarding the payment of the remaining proceeds, are forward-looking statements. While the Company believes its assumptions concerning future events are reasonable, certain factors could cause actual results to differ from those projected. Except as required by law, the Company undertakes no obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise. Media Relations Contact Lee Warren: 713-296-4103 Investor Relations Contact Zach Dailey: 713-296-4140
[ "EX", "-", "99", ".", "2", "3", "exhibit99", "-", "2pressreleasefor", ".", "htm", "EXHIBIT", "99", ".", "2", "PRESS", "RELEASE", "Exhibit", "Exhibit", "99", ".", "2", "Marathon", "Oil", "Closes", "Acquisition", "of", "Northern", "Delaware", "Acreage", "and", "Sale", "of", "Canadian", "Business", "Completes", "Latest", "Strategic", "Portfolio", "Shift", "to", "U", ".", "S", ".", "Resource", "Plays", "HOUSTON", ",", "June", "1", ",", "2017", "-", "Marathon", "Oil", "Corporation", "(", "NYSE", ":", "MRO", ")", "announced", "today", "it", "has", "closed", "the", "acquisition", "of", "approximately", "21,000", "net", "surface", "acres", "in", "the", "Northern", "Delaware", "basin", "of", "New", "Mexico", "from", "Black", "Mountain", "Oil", "&", "Gas", "and", "other", "private", "sellers", "for", "$", "700 million", ",", "excluding", "closing", "adjustments", ".", "The", "effective", "date", "of", "this", "transaction", "is", "March", "1", ",", "2017", ".", "Combined", "with", "the", "acquisition", "from", "BC", "Operating", ",", "which", "closed", "May", "1", ",", "Marathon", "Oil", "'s", "total", "position", "in", "the", "Permian", "Basin", "is", "91,000", "net", "surface", "acres", ".", "On", "May", "31", ",", "the", "Company", "closed", "on", "the", "sale", "of", "its", "Canadian", "subsidiary", "to", "Shell", "and", "Canadian", "Natural", "Resources", "Limited", "for", "a", "total", "transaction", "value", "of", "$", "2.5 billion", "in", "cash", ",", "excluding", "closing", "adjustments", ".", "Marathon", "Oil", "received", "proceeds", "of", "approximately", "$", "1.75 billion", ",", "with", "the", "remaining", "proceeds", "to", "be", "paid", "in", "first", "quarter", "2018", ".", "The", "effective", "date", "of", "the", "transaction", "is", "Jan.", "1", ",", "2017", ".", "The", "Canadian", "sale", "includes", "the", "Company", "'s", "20", "percent", "non", "-", "operated", "interest", "in", "the", "Athabasca", "Oil", "Sands", "Project", "(", "AOSP", ")", ".", "#", "#", "#", "This", "release", "contains", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "Section", "27A", "of", "the", "Securities", "Act", "of", "1933", "and", "Section", "21E", "of", "the", "Securities", "Exchange", "Act", "of", "1934", ".", "All", "statements", ",", "other", "than", "statements", "of", "historical", "fact", ",", "including", "statements", "regarding", "the", "payment", "of", "the", "remaining", "proceeds", ",", "are", "forward", "-", "looking", "statements", ".", "While", "the", "Company", "believes", "its", "assumptions", "concerning", "future", "events", "are", "reasonable", ",", "certain", "factors", "could", "cause", "actual", "results", "to", "differ", "from", "those", "projected", ".", "Except", "as", "required", "by", "law", ",", "the", "Company", "undertakes", "no", "obligation", "to", "revise", "or", "update", "any", "forward", "-", "looking", "statements", "as", "a", "result", "of", "new", "information", ",", "future", "events", "or", "otherwise", ".", "Media", "Relations", "Contact", "Lee", "Warren", ":", "713", "-", "296", "-", "4103", "Investor", "Relations", "Contact", "Zach", "Dailey", ":", "713", "-", "296", "-", "4140" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1351285-000110465913026314-a13-9272_1ex99d2
EX-99.2 4 a13-9272_1ex99d2.htm EX-99.2 Exhibit 99.2 Rosetta Stone Acquires Online Language Company Livemocha Purchase of Vast Online Community & Robust Technology Platform Accelerates Rosetta Stone's Shift to the Cloud ARLINGTON, VA-April 2, 2013-Rosetta Stone announced today that it has acquired Seattle-based Livemocha, Inc., one of the world's largest online language-learning communities, for $8.5 million in cash. Bringing with it a robust and extensible cloud-based learning platform and a community of over 16 million Livemocha members, the transaction accelerates Rosetta Stone's transition to cloud-based learning solutions and reinforces its leadership position in the competitive language-learning industry. "We are in the process of transforming Rosetta Stone to be the most dynamic and ubiquitous technology-based learning platform in the world", said President and Chief Executive Officer Steve Swad. "Our acquisition of Livemocha will help accelerate that transformation. With Livemocha and its vibrant online community on our side, Rosetta Stone will reach more people and change more lives than ever before". With members hailing from 195 different countries, the Livemocha community boasts over 16 million people-including language experts, instructors and multi-linguists-all teaching, learning and interacting online. The company has pioneered the use of crowd-sourcing to drive content development and social engagement in the realm of language learning. The combined strength of the Livemocha community and Rosetta Stone's innovative product development and marketing capabilities uniquely positions the company to meet the changing needs of learners around the world. "Rosetta Stone is a marvelous partner for us", said Livemocha CEO Michael Schutzler, who will assist in post-acquisition integration efforts as a senior advisor to Rosetta Stone CEO Swad. "From the beginning, Livemocha's mission has been to create a world in which every human being is fluent in multiple languages. Rosetta Stone's brand, resources and reach will enable us to continue that mission". Livemocha will remain in Seattle. Having recently established product development offices in Austin, TX, and San Francisco, CA, the new location expands Rosetta Stone's U.S. footprint-an important factor in attracting talent to fuel the company's development of new products. Indeed, Livemocha's sophisticated and flexible technology platform is expected to be part of the foundation for the next wave of Rosetta Stone solutions. "Livemocha will enable us to quickly migrate our legacy products to a future-proof technology stack with a modern, cloud-based architecture and contemporary means of distribution", said Rosetta Stone Chief Product Officer West Stringfellow. "But even more exciting, it gives our customers more choice. Livemocha presents us with a low-cost or even free alternative product to offer learners around the world. It becomes a "ladder of learning and value" for our customers". To be sure, geographic expansion is an attractive feature of the acquisition. While Livemocha does add to Rosetta Stone's already premier presence in the U.S., its high concentrations of users in China, Russia and South America-particularly Brazil-make it an even more compelling complement to Rosetta Stone's international footprint. Livemocha's worldwide community brings vibrant connectivity to Rosetta Stone's existing hubs in Europe, Asia, Latin America and the Middle East. "However you view it-geographically, operationally, technologically, culturally-Rosetta Stone and Livemocha are a terrific fit", said Rosetta Stone CEO Swad. "This acquisition will enable both organizations to grow and deliver value faster and more effectively than either could alone. This is a good deal for our business, a good deal for our customers, and a good deal for language learners all over the world". About Rosetta Stone Inc. Rosetta Stone Inc. provides cutting-edge interactive technology that is changing the way the world learns languages. The company's proprietary learning techniques-acclaimed for their power to unlock the natural language-learning ability in everyone-are used by schools, businesses, government organizations and millions of individuals around the world. Rosetta Stone offers courses in 30 languages, from the most commonly spoken (like English, Spanish and Mandarin) to the less prominent (including Swahili, Swedish and Tagalog). The company was founded in 1992 on the core beliefs that learning to speak a language should be a natural and instinctive process, and that interactive technology can activate the language immersion method powerfully for learners of any age. Rosetta Stone is based in Arlington, VA, and has offices in Harrisonburg, VA, Boulder, CO, Tokyo, Seoul, London, Sao Paulo and Dubai. Media Contact: Jonathan Mudd [email protected] 571-357-7148 Investor Contact: Steve Somers, CFA [email protected] 703-387-5876
[ "EX", "-", "99", ".", "2", "4", "a13", "-", "9272", "_", "1ex99d2", ".", "htm", "EX", "-", "99", ".", "2", "Exhibit", "99", ".", "2", "Rosetta", "Stone", "Acquires", "Online", "Language", "Company", "Livemocha", "Purchase", "of", "Vast", "Online", "Community", "&", "Robust", "Technology", "Platform", "Accelerates", "Rosetta", "Stone", "'s", "Shift", "to", "the", "Cloud", "ARLINGTON", ",", "VA", "-", "April", "2", ",", "2013", "-", "Rosetta", "Stone", "announced", "today", "that", "it", "has", "acquired", "Seattle", "-", "based", "Livemocha", ",", "Inc", ".", ",", "one", "of", "the", "world", "'s", "largest", "online", "language", "-", "learning", "communities", ",", "for", "$", "8.5 million", "in", "cash", ".", "Bringing", "with", "it", "a", "robust", "and", "extensible", "cloud", "-", "based", "learning", "platform", "and", "a", "community", "of", "over", "16", "million", "Livemocha", "members", ",", "the", "transaction", "accelerates", "Rosetta", "Stone", "'s", "transition", "to", "cloud", "-", "based", "learning", "solutions", "and", "reinforces", "its", "leadership", "position", "in", "the", "competitive", "language", "-", "learning", "industry", ".", "\"", "We", "are", "in", "the", "process", "of", "transforming", "Rosetta", "Stone", "to", "be", "the", "most", "dynamic", "and", "ubiquitous", "technology", "-", "based", "learning", "platform", "in", "the", "world", "\"", ",", "said", "President", "and", "Chief", "Executive", "Officer", "Steve", "Swad", ".", "\"", "Our", "acquisition", "of", "Livemocha", "will", "help", "accelerate", "that", "transformation", ".", "With", "Livemocha", "and", "its", "vibrant", "online", "community", "on", "our", "side", ",", "Rosetta", "Stone", "will", "reach", "more", "people", "and", "change", "more", "lives", "than", "ever", "before", "\"", ".", "With", "members", "hailing", "from", "195", "different", "countries", ",", "the", "Livemocha", "community", "boasts", "over", "16", "million", "people", "-", "including", "language", "experts", ",", "instructors", "and", "multi", "-", "linguists", "-", "all", "teaching", ",", "learning", "and", "interacting", "online", ".", "The", "company", "has", "pioneered", "the", "use", "of", "crowd", "-", "sourcing", "to", "drive", "content", "development", "and", "social", "engagement", "in", "the", "realm", "of", "language", "learning", ".", "The", "combined", "strength", "of", "the", "Livemocha", "community", "and", "Rosetta", "Stone", "'s", "innovative", "product", "development", "and", "marketing", "capabilities", "uniquely", "positions", "the", "company", "to", "meet", "the", "changing", "needs", "of", "learners", "around", "the", "world", ".", "\"", "Rosetta", "Stone", "is", "a", "marvelous", "partner", "for", "us", "\"", ",", "said", "Livemocha", "CEO", "Michael", "Schutzler", ",", "who", "will", "assist", "in", "post", "-", "acquisition", "integration", "efforts", "as", "a", "senior", "advisor", "to", "Rosetta", "Stone", "CEO", "Swad", ".", "\"", "From", "the", "beginning", ",", "Livemocha", "'s", "mission", "has", "been", "to", "create", "a", "world", "in", "which", "every", "human", "being", "is", "fluent", "in", "multiple", "languages", ".", "Rosetta", "Stone", "'s", "brand", ",", "resources", "and", "reach", "will", "enable", "us", "to", "continue", "that", "mission", "\"", ".", "Livemocha", "will", "remain", "in", "Seattle", ".", "Having", "recently", "established", "product", "development", "offices", "in", "Austin", ",", "TX", ",", "and", "San", "Francisco", ",", "CA", ",", "the", "new", "location", "expands", "Rosetta", "Stone", "'s", "U", ".", "S", ".", "footprint", "-", "an", "important", "factor", "in", "attracting", "talent", "to", "fuel", "the", "company", "'s", "development", "of", "new", "products", ".", "Indeed", ",", "Livemocha", "'", "s", "sophisticated", "and", "flexible", "technology", "platform", "is", "expected", "to", "be", "part", "of", "the", "foundation", "for", "the", "next", "wave", "of", "Rosetta", "Stone", "solutions", ".", "\"", "Livemocha", "will", "enable", "us", "to", "quickly", "migrate", "our", "legacy", "products", "to", "a", "future", "-", "proof", "technology", "stack", "with", "a", "modern", ",", "cloud", "-", "based", "architecture", "and", "contemporary", "means", "of", "distribution", "\"", ",", "said", "Rosetta", "Stone", "Chief", "Product", "Officer", "West", "Stringfellow", ".", "\"", "But", "even", "more", "exciting", ",", "it", "gives", "our", "customers", "more", "choice", ".", "Livemocha", "presents", "us", "with", "a", "low", "-", "cost", "or", "even", "free", "alternative", "product", "to", "offer", "learners", "around", "the", "world", ".", "It", "becomes", "a", "\"", "ladder", "of", "learning", "and", "value", "\"", "for", "our", "customers", "\"", ".", "To", "be", "sure", ",", "geographic", "expansion", "is", "an", "attractive", "feature", "of", "the", "acquisition", ".", "While", "Livemocha", "does", "add", "to", "Rosetta", "Stone", "'s", "already", "premier", "presence", "in", "the", "U", ".", "S", ".", ",", "its", "high", "concentrations", "of", "users", "in", "China", ",", "Russia", "and", "South", "America", "-", "particularly", "Brazil", "-", "make", "it", "an", "even", "more", "compelling", "complement", "to", "Rosetta", "Stone", "'s", "international", "footprint", ".", "Livemocha", "'s", "worldwide", "community", "brings", "vibrant", "connectivity", "to", "Rosetta", "Stone", "'s", "existing", "hubs", "in", "Europe", ",", "Asia", ",", "Latin", "America", "and", "the", "Middle", "East", ".", "\"", "However", "you", "view", "it", "-", "geographically", ",", "operationally", ",", "technologically", ",", "culturally", "-", "Rosetta", "Stone", "and", "Livemocha", "are", "a", "terrific", "fit", "\"", ",", "said", "Rosetta", "Stone", "CEO", "Swad", ".", "\"", "This", "acquisition", "will", "enable", "both", "organizations", "to", "grow", "and", "deliver", "value", "faster", "and", "more", "effectively", "than", "either", "could", "alone", ".", "This", "is", "a", "good", "deal", "for", "our", "business", ",", "a", "good", "deal", "for", "our", "customers", ",", "and", "a", "good", "deal", "for", "language", "learners", "all", "over", "the", "world", "\"", ".", "About", "Rosetta", "Stone", "Inc", ".", "Rosetta", "Stone", "Inc", ".", "provides", "cutting", "-", "edge", "interactive", "technology", "that", "is", "changing", "the", "way", "the", "world", "learns", "languages", ".", "The", "company", "'s", "proprietary", "learning", "techniques", "-", "acclaimed", "for", "their", "power", "to", "unlock", "the", "natural", "language", "-", "learning", "ability", "in", "everyone", "-", "are", "used", "by", "schools", ",", "businesses", ",", "government", "organizations", "and", "millions", "of", "individuals", "around", "the", "world", ".", "Rosetta", "Stone", "offers", "courses", "in", "30", "languages", ",", "from", "the", "most", "commonly", "spoken", "(", "like", "English", ",", "Spanish", "and", "Mandarin", ")", "to", "the", "less", "prominent", "(", "including", "Swahili", ",", "Swedish", "and", "Tagalog", ")", ".", "The", "company", "was", "founded", "in", "1992", "on", "the", "core", "beliefs", "that", "learning", "to", "speak", "a", "language", "should", "be", "a", "natural", "and", "instinctive", "process", ",", "and", "that", "interactive", "technology", "can", "activate", "the", "language", "immersion", "method", "powerfully", "for", "learners", "of", "any", "age", ".", "Rosetta", "Stone", "is", "based", "in", "Arlington", ",", "VA", ",", "and", "has", "offices", "in", "Harrisonburg", ",", "VA", ",", "Boulder", ",", "CO", ",", "Tokyo", ",", "Seoul", ",", "London", ",", "Sao", "Paulo", "and", "Dubai", ".", "Media", "Contact", ":", "Jonathan", "Mudd", "[email protected]", "571", "-", "357", "-", "7148", "Investor", "Contact", ":", "Steve", "Somers", ",", "CFA", "[email protected]", "703", "-", "387", "-", "5876" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1481832-000148183220000143-ex-991xpressreleasexst
EX-99.1 2 ex-991xpressreleasexst.htm EX-99 - PRESS RELEASE Document Preferred Apartment Communities, Inc. Completes Sale of Student Housing Assets for an Aggregate Purchase Price of Approximately $478.7 million Atlanta, GA, November 3, 2020 Preferred Apartment Communities, Inc. (NYSE: APTS) ("PAC" or the "Company") closed today the previously announced disposition of its student housing assets to TPG Real Estate Partners for aggregate gross proceeds of $478.7 million, which will result in net proceeds at closing of approximately $245.0 million, after the satisfaction of $233.7 million of property level debt and other closing adjustments and costs. "We are very pleased to announce the completion of the disposition of our student housing assets to TPG Real Estate Partners, an experienced real estate owner and operator. Achieving occupancy and leasing rates for the 2020 academic year that exceeded the prior year drove value and demonstrates our track record of operational success at these properties of which we are very proud. As we have stated, this sale is strategic and consistent with our previously announced objectives to exit the student housing space, simplify our focus to our core suburban Sunbelt multifamily business, and realign our balance sheet", stated Joel T. Murphy, Preferred Apartment Communities' President and Chief Executive Officer. Mr. Murphy added, "This transaction allows us to harvest capital to be used consistently with the aforementioned objectives". About Preferred Apartment Communities, Inc. Preferred Apartment Communities, Inc. (NYSE: APTS) is a real estate investment trust engaged primarily in the ownership and operation of Class A multifamily properties, with select investments in grocery anchored shopping centers and Class A office buildings. Preferred Apartment Communities' investment objective is to generate attractive, stable returns for stockholders by investing in income-producing properties and acquiring or originating real estate loans. As of June 30, 2020, the Company owned or was invested in 125 properties in 15 states, predominantly in the Southeast region of the United States. Learn more at www.pacapts.com. Cautionary Notice Regarding Forward-Looking Statements This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements may be identified by the use of forward-looking terminology such as "may", "trend", "will", "expects", "plans", "estimates", "anticipates", "projects", "intends", "believes", "goals", "objectives", "outlook" and similar expressions. These forward-looking statements include, but are not limited to, statements regarding the expected use of proceeds from the sale. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to, (a) the impact of the coronavirus (COVID-19) pandemic on PAC's business operations and the economic conditions in the markets in which PAC operates; (b) PAC's ability to mitigate the impacts arising from COVID-19 and (c) those disclosed in PAC's filings with the Securities and Exchange Commission. PAC undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law. SOURCE: Preferred Apartment Communities, Inc. Preferred Apartment Communities, Inc. John A. Isakson 770-818-4109 Chief Financial Officer Email: [email protected]
[ "EX", "-", "99", ".", "1", "2", "ex", "-", "991xpressreleasexst", ".", "htm", "EX", "-", "99", "-", "PRESS", "RELEASE", "Document", "Preferred", "Apartment", "Communities", ",", "Inc", ".", "Completes", "Sale", "of", "Student", "Housing", "Assets", "for", "an", "Aggregate", "Purchase", "Price", "of", "Approximately", "$", "478.7 million", "Atlanta", ",", "GA", ",", "November", "3", ",", "2020", "Preferred", "Apartment", "Communities", ",", "Inc", ".", "(", "NYSE", ":", "APTS", ")", "(", "\"", "PAC", "\"", "or", "the", "\"", "Company", "\"", ")", "closed", "today", "the", "previously", "announced", "disposition", "of", "its", "student", "housing", "assets", "to", "TPG", "Real", "Estate", "Partners", "for", "aggregate", "gross", "proceeds", "of", "$", "478.7 million", ",", "which", "will", "result", "in", "net", "proceeds", "at", "closing", "of", "approximately", "$", "245.0 million", ",", "after", "the", "satisfaction", "of", "$", "233.7 million", "of", "property", "level", "debt", "and", "other", "closing", "adjustments", "and", "costs", ".", "\"", "We", "are", "very", "pleased", "to", "announce", "the", "completion", "of", "the", "disposition", "of", "our", "student", "housing", "assets", "to", "TPG", "Real", "Estate", "Partners", ",", "an", "experienced", "real", "estate", "owner", "and", "operator", ".", "Achieving", "occupancy", "and", "leasing", "rates", "for", "the", "2020", "academic", "year", "that", "exceeded", "the", "prior", "year", "drove", "value", "and", "demonstrates", "our", "track", "record", "of", "operational", "success", "at", "these", "properties", "of", "which", "we", "are", "very", "proud", ".", "As", "we", "have", "stated", ",", "this", "sale", "is", "strategic", "and", "consistent", "with", "our", "previously", "announced", "objectives", "to", "exit", "the", "student", "housing", "space", ",", "simplify", "our", "focus", "to", "our", "core", "suburban", "Sunbelt", "multifamily", "business", ",", "and", "realign", "our", "balance", "sheet", "\"", ",", "stated", "Joel", "T", ".", "Murphy", ",", "Preferred", "Apartment", "Communities", "'", "President", "and", "Chief", "Executive", "Officer", ".", "Mr", ".", "Murphy", "added", ",", "\"", "This", "transaction", "allows", "us", "to", "harvest", "capital", "to", "be", "used", "consistently", "with", "the", "aforementioned", "objectives", "\"", ".", "About", "Preferred", "Apartment", "Communities", ",", "Inc", ".", "Preferred", "Apartment", "Communities", ",", "Inc", ".", "(", "NYSE", ":", "APTS", ")", "is", "a", "real", "estate", "investment", "trust", "engaged", "primarily", "in", "the", "ownership", "and", "operation", "of", "Class", "A", "multifamily", "properties", ",", "with", "select", "investments", "in", "grocery", "anchored", "shopping", "centers", "and", "Class", "A", "office", "buildings", ".", "Preferred", "Apartment", "Communities", "'", "investment", "objective", "is", "to", "generate", "attractive", ",", "stable", "returns", "for", "stockholders", "by", "investing", "in", "income", "-", "producing", "properties", "and", "acquiring", "or", "originating", "real", "estate", "loans", ".", "As", "of", "June", "30", ",", "2020", ",", "the", "Company", "owned", "or", "was", "invested", "in", "125", "properties", "in", "15", "states", ",", "predominantly", "in", "the", "Southeast", "region", "of", "the", "United", "States", ".", "Learn", "more", "at", "www.pacapts.com", ".", "Cautionary", "Notice", "Regarding", "Forward", "-", "Looking", "Statements", "This", "press", "release", "may", "contain", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "Section", "27A", "of", "the", "Securities", "Act", "of", "1933", "and", "Section", "21E", "of", "the", "Securities", "Exchange", "Act", "of", "1934", ".", "These", "statements", "may", "be", "identified", "by", "the", "use", "of", "forward", "-", "looking", "terminology", "such", "as", "\"", "may", "\"", ",", "\"", "trend", "\"", ",", "\"", "will", "\"", ",", "\"", "expects", "\"", ",", "\"", "plans", "\"", ",", "\"", "estimates", "\"", ",", "\"", "anticipates", "\"", ",", "\"", "projects", "\"", ",", "\"", "intends", "\"", ",", "\"", "believes", "\"", ",", "\"", "goals", "\"", ",", "\"", "objectives", "\"", ",", "\"", "outlook", "\"", "and", "similar", "expressions", ".", "These", "forward", "-", "looking", "statements", "include", ",", "but", "are", "not", "limited", "to", ",", "statements", "regarding", "the", "expected", "use", "of", "proceeds", "from", "the", "sale", ".", "Because", "such", "statements", "include", "risks", ",", "uncertainties", "and", "contingencies", ",", "actual", "results", "may", "differ", "materially", "from", "the", "expectations", ",", "intentions", ",", "beliefs", ",", "plans", "or", "predictions", "of", "the", "future", "expressed", "or", "implied", "by", "such", "forward", "-", "looking", "statements", ".", "These", "risks", ",", "uncertainties", "and", "contingencies", "include", ",", "but", "are", "not", "limited", "to", ",", "(", "a", ")", "the", "impact", "of", "the", "coronavirus", "(", "COVID", "-", "19", ")", "pandemic", "on", "PAC", "'s", "business", "operations", "and", "the", "economic", "conditions", "in", "the", "markets", "in", "which", "PAC", "operates", ";", "(", "b", ")", "PAC", "'s", "ability", "to", "mitigate", "the", "impacts", "arising", "from", "COVID", "-", "19", "and", "(", "c", ")", "those", "disclosed", "in", "PAC", "'s", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", ".", "PAC", "undertakes", "no", "obligation", "to", "update", "these", "forward", "-", "looking", "statements", "to", "reflect", "events", "or", "circumstances", "after", "the", "date", "hereof", "or", "to", "reflect", "the", "occurrence", "of", "unanticipated", "events", ",", "except", "as", "may", "be", "required", "by", "law", ".", "SOURCE", ":", "Preferred", "Apartment", "Communities", ",", "Inc", ".", "Preferred", "Apartment", "Communities", ",", "Inc", ".", "John", "A", ".", "Isakson", "770", "-", "818", "-", "4109", "Chief", "Financial", "Officer", "Email", ":", "[email protected]" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
895126-000089512619000055-ex9912019-02x01xprojhillsi
EX-99.1 6 ex9912019-02x01xprojhillsi.htm EXHIBIT 99.1 Exhibit Exhibit 99.1 N E W S R E L E A S E FOR IMMEDIATE RELEASE FERUARY 1, 2019 CHESAPEAKE ENERGY CORPORATION COMPLETES ACQUISITION OF WILDHORSE RESOURCE DEVELOPMENT CORPORATION OKLAHOMA CITY, February 1, 2019 -- Chesapeake Energy Corporation (NYSE:CHK) today announced that it has completed its acquisition of WildHorse Resource Development Corporation (NYSE:WRD). The merger was previously approved by Chesapeake shareholders and WildHorse stockholders at special meetings held on January 31, 2019. At the election of each WildHorse common stockholder, the consideration consisted of either 5.989 shares of Chesapeake common stock (the "share consideration") or a combination of 5.336 shares of Chesapeake common stock and $3.00 in cash (the "mixed consideration"), in exchange for each share of WildHorse common stock. As a result of the merger, WildHorse common stock will no longer be listed for trading on the New York Stock Exchange. Doug Lawler, Chesapeake's Chief Executive Officer, commented, "In 2018, Chesapeake Energy continued to build upon our track record of consistent business delivery and transformational progress through both financial and operating improvements. The addition of the WildHorse assets to our high-quality, diverse portfolio, combined with our operating expertise and experience, provides another oil growth engine with significant oil inventory for years to come and gives us tremendous flexibility and optionality to help achieve our strategic goals". In conjunction with the closing, and as previously announced under the terms of the merger agreement, David W. Hayes has joined the Chesapeake board, effective immediately. In addition, Jay C. Graham will be appointed to fill the next vacancy on the Chesapeake board. In a separate vote at the special meeting, Chesapeake shareholders approved a proposal to amend Chesapeake's restated certificate of incorporation to increase the number of authorized shares of Chesapeake common stock from 2,000,000,000 shares to 3,000,000,000 shares. Credit Facility Amendments In connection with the merger, Chesapeake entered into the First Amendment to its Credit Agreement, dated as of September 12, 2018, which, among other things, expressly permitted Chesapeake's initial investment in WildHorse. An amendment to WildHorse's Credit Agreement, dated as of December 19, 2016, was also entered into to amend certain provisions to permit the merger and to permit borrowings under the WildHorse Credit Agreement to be used to redeem or repurchase WildHorse's senior notes so long as certain conditions are met. A supplement to WildHorse's Indenture, dated as of February 1, 2017, governing WildHorse's 6.875% Senior Notes due 2025 was also entered into, pursuant to which Brazos Valley Longhorn, L.L.C., as successor by merger to WildHorse, assumed WildHorse's obligations as issuer under the Indenture and Brazos Valley Longhorn Finance Corp. was appointed as co-issuer of WildHorse's senior notes. Further details regarding these amendments may be obtained from a Form 8-K to be filed by the company later today. Headquartered in Oklahoma City, Chesapeake Energy Corporation's operations are focused on discovering and developing its large and geographically diverse resource base of unconventional oil and natural gas assets onshore in the United States. Cautionary Statement Regarding Forward-Looking Statements This communication may contain certain forward-looking statements within the meaning of federal securities law, including financial and operating improvements and growth in oil production and inventory. Such statements are subject to numerous assumptions, risks, and uncertainties. Statements that do not describe historical or current facts, including statements about beliefs and expectations, are forward-looking statements. Forward-looking statements may be identified by words such as expect, anticipate, believe, intend, estimate, plan, target, goal, or similar expressions, or future or conditional verbs such as will, may, might, should, would, could, or similar variations. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. While there is no assurance that any list of risks and uncertainties or risk factors is complete, below are certain factors which could cause actual results to differ materially from those contained or implied in the forward-looking statements: potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the transaction; competitive responses to the transaction; the possibility that the anticipated benefits of the transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies; diversion of management's attention from ongoing business operations and opportunities; the ability of Chesapeake to complete the integration of WildHorse successfully; litigation relating to the transaction; and other factors that may affect future results of Chesapeake. Additional factors that could cause results to differ materially from those described above can be found in Chesapeake's Annual Report on Form 10-K for the year ended December 31, 2017 and in its subsequent Quarterly Reports on Form 10-Q for the quarters ended March 31, 2018, June 30, 2018 and September 30, 2018, each of which is on file with the SEC and available in the "Investors" section of Chesapeake's website, https://www.chk.com/, under the heading "SEC Filings" and in other documents Chesapeake files with the SEC. All forward-looking statements speak only as of the date they are made and are based on information available at that time. Chesapeake assumes no obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements. INVESTOR CONTACT: MEDIA CONTACT: CHESAPEAKE ENERGY CORPORATION Brad Sylvester, CFA (405) 935-8870 [email protected] Gordon Pennoyer (405) 935-8878 [email protected] 6100 North Western Avenue P.O. Box 18496 Oklahoma City, OK 73154
[ "EX", "-", "99", ".", "1", "6", "ex9912019", "-", "02x01xprojhillsi", ".", "htm", "EXHIBIT", "99", ".", "1", "Exhibit", "Exhibit", "99", ".", "1", "N", "E", "W", "S", "R", "E", "L", "E", "A", "S", "E", "FOR", "IMMEDIATE", "RELEASE", "FERUARY", "1", ",", "2019", "CHESAPEAKE", "ENERGY", "CORPORATION", "COMPLETES", "ACQUISITION", "OF", "WILDHORSE", "RESOURCE", "DEVELOPMENT", "CORPORATION", "OKLAHOMA", "CITY", ",", "February", "1", ",", "2019", "--", "Chesapeake", "Energy", "Corporation", "(", "NYSE", ":", "CHK", ")", "today", "announced", "that", "it", "has", "completed", "its", "acquisition", "of", "WildHorse", "Resource", "Development", "Corporation", "(", "NYSE", ":", "WRD", ")", ".", "The", "merger", "was", "previously", "approved", "by", "Chesapeake", "shareholders", "and", "WildHorse", "stockholders", "at", "special", "meetings", "held", "on", "January", "31", ",", "2019", ".", "At", "the", "election", "of", "each", "WildHorse", "common", "stockholder", ",", "the", "consideration", "consisted", "of", "either", "5", ".", "989", "shares", "of", "Chesapeake", "common", "stock", "(", "the", "\"", "share", "consideration", "\"", ")", "or", "a", "combination", "of", "5", ".", "336", "shares", "of", "Chesapeake", "common", "stock", "and", "$", "3.00", "in", "cash", "(", "the", "\"", "mixed", "consideration", "\"", ")", ",", "in", "exchange", "for", "each", "share", "of", "WildHorse", "common", "stock", ".", "As", "a", "result", "of", "the", "merger", ",", "WildHorse", "common", "stock", "will", "no", "longer", "be", "listed", "for", "trading", "on", "the", "New", "York", "Stock", "Exchange", ".", "Doug", "Lawler", ",", "Chesapeake", "'s", "Chief", "Executive", "Officer", ",", "commented", ",", "\"", "In", "2018", ",", "Chesapeake", "Energy", "continued", "to", "build", "upon", "our", "track", "record", "of", "consistent", "business", "delivery", "and", "transformational", "progress", "through", "both", "financial", "and", "operating", "improvements", ".", "The", "addition", "of", "the", "WildHorse", "assets", "to", "our", "high", "-", "quality", ",", "diverse", "portfolio", ",", "combined", "with", "our", "operating", "expertise", "and", "experience", ",", "provides", "another", "oil", "growth", "engine", "with", "significant", "oil", "inventory", "for", "years", "to", "come", "and", "gives", "us", "tremendous", "flexibility", "and", "optionality", "to", "help", "achieve", "our", "strategic", "goals", "\"", ".", "In", "conjunction", "with", "the", "closing", ",", "and", "as", "previously", "announced", "under", "the", "terms", "of", "the", "merger", "agreement", ",", "David", "W", ".", "Hayes", "has", "joined", "the", "Chesapeake", "board", ",", "effective", "immediately", ".", "In", "addition", ",", "Jay", "C", ".", "Graham", "will", "be", "appointed", "to", "fill", "the", "next", "vacancy", "on", "the", "Chesapeake", "board", ".", "In", "a", "separate", "vote", "at", "the", "special", "meeting", ",", "Chesapeake", "shareholders", "approved", "a", "proposal", "to", "amend", "Chesapeake", "'s", "restated", "certificate", "of", "incorporation", "to", "increase", "the", "number", "of", "authorized", "shares", "of", "Chesapeake", "common", "stock", "from", "2,000,000,000", "shares", "to", "3,000,000,000", "shares", ".", "Credit", "Facility", "Amendments", "In", "connection", "with", "the", "merger", ",", "Chesapeake", "entered", "into", "the", "First", "Amendment", "to", "its", "Credit", "Agreement", ",", "dated", "as", "of", "September", "12", ",", "2018", ",", "which", ",", "among", "other", "things", ",", "expressly", "permitted", "Chesapeake", "'s", "initial", "investment", "in", "WildHorse", ".", "An", "amendment", "to", "WildHorse", "'s", "Credit", "Agreement", ",", "dated", "as", "of", "December", "19", ",", "2016", ",", "was", "also", "entered", "into", "to", "amend", "certain", "provisions", "to", "permit", "the", "merger", "and", "to", "permit", "borrowings", "under", "the", "WildHorse", "Credit", "Agreement", "to", "be", "used", "to", "redeem", "or", "repurchase", "WildHorse", "'s", "senior", "notes", "so", "long", "as", "certain", "conditions", "are", "met", ".", "A", "supplement", "to", "WildHorse", "'s", "Indenture", ",", "dated", "as", "of", "February", "1", ",", "2017", ",", "governing", "WildHorse", "'s", "6", ".", "875", "%", "Senior", "Notes", "due", "2025", "was", "also", "entered", "into", ",", "pursuant", "to", "which", "Brazos", "Valley", "Longhorn", ",", "L", ".", "L", ".", "C", ".", ",", "as", "successor", "by", "merger", "to", "WildHorse", ",", "assumed", "WildHorse", "'s", "obligations", "as", "issuer", "under", "the", "Indenture", "and", "Brazos", "Valley", "Longhorn", "Finance", "Corp", ".", "was", "appointed", "as", "co", "-", "issuer", "of", "WildHorse", "'s", "senior", "notes", ".", "Further", "details", "regarding", "these", "amendments", "may", "be", "obtained", "from", "a", "Form", "8", "-", "K", "to", "be", "filed", "by", "the", "company", "later", "today", ".", "Headquartered", "in", "Oklahoma", "City", ",", "Chesapeake", "Energy", "Corporation", "'s", "operations", "are", "focused", "on", "discovering", "and", "developing", "its", "large", "and", "geographically", "diverse", "resource", "base", "of", "unconventional", "oil", "and", "natural", "gas", "assets", "onshore", "in", "the", "United", "States", ".", "Cautionary", "Statement", "Regarding", "Forward", "-", "Looking", "Statements", "This", "communication", "may", "contain", "certain", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "federal", "securities", "law", ",", "including", "financial", "and", "operating", "improvements", "and", "growth", "in", "oil", "production", "and", "inventory", ".", "Such", "statements", "are", "subject", "to", "numerous", "assumptions", ",", "risks", ",", "and", "uncertainties", ".", "Statements", "that", "do", "not", "describe", "historical", "or", "current", "facts", ",", "including", "statements", "about", "beliefs", "and", "expectations", ",", "are", "forward", "-", "looking", "statements", ".", "Forward", "-", "looking", "statements", "may", "be", "identified", "by", "words", "such", "as", "expect", ",", "anticipate", ",", "believe", ",", "intend", ",", "estimate", ",", "plan", ",", "target", ",", "goal", ",", "or", "similar", "expressions", ",", "or", "future", "or", "conditional", "verbs", "such", "as", "will", ",", "may", ",", "might", ",", "should", ",", "would", ",", "could", ",", "or", "similar", "variations", ".", "The", "forward", "-", "looking", "statements", "are", "intended", "to", "be", "subject", "to", "the", "safe", "harbor", "provided", "by", "Section", "27A", "of", "the", "Securities", "Act", "of", "1933", ",", "Section", "21E", "of", "the", "Securities", "Exchange", "Act", "of", "1934", ",", "and", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "While", "there", "is", "no", "assurance", "that", "any", "list", "of", "risks", "and", "uncertainties", "or", "risk", "factors", "is", "complete", ",", "below", "are", "certain", "factors", "which", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "contained", "or", "implied", "in", "the", "forward", "-", "looking", "statements", ":", "potential", "adverse", "reactions", "or", "changes", "to", "business", "or", "employee", "relationships", ",", "including", "those", "resulting", "from", "the", "announcement", "or", "completion", "of", "the", "transaction", ";", "competitive", "responses", "to", "the", "transaction", ";", "the", "possibility", "that", "the", "anticipated", "benefits", "of", "the", "transaction", "are", "not", "realized", "when", "expected", "or", "at", "all", ",", "including", "as", "a", "result", "of", "the", "impact", "of", ",", "or", "problems", "arising", "from", ",", "the", "integration", "of", "the", "two", "companies", ";", "diversion", "of", "management", "'s", "attention", "from", "ongoing", "business", "operations", "and", "opportunities", ";", "the", "ability", "of", "Chesapeake", "to", "complete", "the", "integration", "of", "WildHorse", "successfully", ";", "litigation", "relating", "to", "the", "transaction", ";", "and", "other", "factors", "that", "may", "affect", "future", "results", "of", "Chesapeake", ".", "Additional", "factors", "that", "could", "cause", "results", "to", "differ", "materially", "from", "those", "described", "above", "can", "be", "found", "in", "Chesapeake", "'s", "Annual", "Report", "on", "Form", "10", "-", "K", "for", "the", "year", "ended", "December", "31", ",", "2017", "and", "in", "its", "subsequent", "Quarterly", "Reports", "on", "Form", "10", "-", "Q", "for", "the", "quarters", "ended", "March", "31", ",", "2018", ",", "June", "30", ",", "2018", "and", "September", "30", ",", "2018", ",", "each", "of", "which", "is", "on", "file", "with", "the", "SEC", "and", "available", "in", "the", "\"", "Investors", "\"", "section", "of", "Chesapeake", "'s", "website", ",", "https://www.chk.com/", ",", "under", "the", "heading", "\"", "SEC", "Filings", "\"", "and", "in", "other", "documents", "Chesapeake", "files", "with", "the", "SEC", ".", "All", "forward", "-", "looking", "statements", "speak", "only", "as", "of", "the", "date", "they", "are", "made", "and", "are", "based", "on", "information", "available", "at", "that", "time", ".", "Chesapeake", "assumes", "no", "obligation", "to", "update", "forward", "-", "looking", "statements", "to", "reflect", "circumstances", "or", "events", "that", "occur", "after", "the", "date", "the", "forward", "-", "looking", "statements", "were", "made", "or", "to", "reflect", "the", "occurrence", "of", "unanticipated", "events", "except", "as", "required", "by", "federal", "securities", "laws", ".", "As", "forward", "-", "looking", "statements", "involve", "significant", "risks", "and", "uncertainties", ",", "caution", "should", "be", "exercised", "against", "placing", "undue", "reliance", "on", "such", "statements", ".", "INVESTOR", "CONTACT", ":", "MEDIA", "CONTACT", ":", "CHESAPEAKE", "ENERGY", "CORPORATION", "Brad", "Sylvester", ",", "CFA", "(", "405", ")", "935", "-", "8870", "[email protected]", "Gordon", "Pennoyer", "(", "405", ")", "935", "-", "8878", "[email protected]", "6100", "North Western", "Avenue", "P.O. Box", "18496", "Oklahoma", "City", ",", "OK", "73154" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1017491-000114420411039236-v227930_ex99-1
EX-99.1 3 v227930_ex99-1.htm Unassociated Document Exhibit 99.1 6330 Nancy Ridge Dr, Suite 103 Phone: +1-858-222-8041 San Diego, CA 92121 Fax: +1-858-866-0482 APRICUS BIOSCIENCES SELLS BIO-QUANT CRO SUBSIDIARY TO BIOTOX SCIENCES - COMPANY TO FOCUS ON GENERATION OF REVENUES FROM COMMERCIALIZATION OF DRUG PIPELINE BASED ON NEXACT® DELIVERY TECHNOLOGY - SAN DIEGO, CA, July 6, 2011- Apricus Biosciences, Inc. ("Apricus Bio") (Nasdaq: APRI) announced today that it has sold its wholly-owned subsidiary, Bio-Quant, Inc. ("Bio-Quant"), a specialty biotechnology Contract Research Organization ("CRO"), to BioTox Sciences ("BioTox"), a San Diego-based CRO. Under terms of the agreement, Apricus Bio will receive a minimum of $5 million in up-front and future earn-out payments, with the potential for as much as $20 million over the next ten years, based on BioTox's currently projected revenues. Additionally, Apricus Bio has retained all NexMed-related research conducted by Bio-Quant as well as the profitable Bio-Quant diagnostic kit business. "While our Bio-Quant subsidiary has been driving revenues over the past year, this divesture represents a key strategic decision for Apricus Bio, as licensing revenues from Vitaros® have increased during the first half of 2011, and are currently projected to constitute the majority of our revenue stream for the remainder of 2011", stated Dr. Bassam Damaj, Chairman, President and Chief Executive Officer of the Company. "The sale enables us to focus our efforts where we believe we will generate the greatest return on investment -- speeding our specialty biopharmaceutical drugs to market. While Bio-Quant has been instrumental in advancing the uses of our NexACT® technology and preclinical pipeline, we have now entered the commercialization stage with our first product and intend to focus our efforts on the generation of revenues from our drug pipeline", continued Dr. Damaj. Apricus Bio's top priority is to commercialize Vitaros®, for the treatment of erectile dysfunction. Vitaros® was approved for marketing and sales in Canada in 2010, and the Company recently filed for approval in Europe. Management is in advanced partnering negotiations for Vitaros® in Canada and/or Europe and expects to announce a partnership in the second half of 2011. In addition, Apricus Bio is focused on developing and commercializing the other 12 products and product candidates in its pipeline, including Femprox®, MycoVa™ and PrevOnco™. Bio-Quant, founded in 2001, is one of San Diego's most experienced CROs for non-GLP (good laboratory practices) contract drug discovery and pre-clinical development services, specializing in oncology, inflammation, immunology and metabolic diseases. Bio-Quant has clients world-wide. Revenues are generated from pre-clinical contract services and housing services. 6330 Nancy Ridge Dr, Suite 103 Phone: +1-858-222-8041 San Diego, CA 92121 Fax: +1-858-866-0482 During 2010, the Bio-Quant CRO business helped advance Apricus Bio's proprietary NexACT® technology and increase its product and product candidate portfolio from four products to 13. With the divestiture of Bio-Quant, Apricus Bio has decided to outsource its primary preclinical CRO work for its NexMed subsidiary and narrow its focus on commercializing its late stage products -- Vitaros® for erectile dysfunction, Femprox® for female sexual arousal disorder, MycoVa™ for nail fungus, PrevOnco™ for liver cancer and RayVa™ for Reynaud's Syndrome -- in addition to continuing to develop the eight other, earlier stage product candidates in its pipeline. BioTox is a San Diego CRO founded in 2007 that focuses primarily on GLP studies and has been interested in expanding its operations in San Diego on the non-GLP side. "We look forward to seeing BioTox achieve even greater success, which will result in greater earn-out payments for Apricus Bio", said Dr. Damaj. "We were actively looking for opportunities to expand our footprint in the Discovery CRO area and add more In-Vitro and In-Vivo disease models to increase the range of services we currently offer to our clients", stated BioTox's President, Sami Abunadi, in a company statement. "Bio-Quant offers a long and successful history in non-GLP preclinical research in areas such as oncology, inflammation, immunology, metabolic diseases and high throughput screening capabilities. We believe that this transaction will not only be revenue and earnings enhancing and highly valuable to our shareholders, but will also provide both a superior and quicker entry point than the other build or buy options we considered", said Mr. Abunadi. In addition to adding key services and becoming a major participant in Southern California, BioTox can now scale its operation and reach to become a true national and global presence. BioTox intends to build on its present IND and NDA enabling In-Vivo GLP toxicology offerings, and as such, expects to be able to offer both Bio-Quant's and BioTox's clients a more attractive strategic outsourcing alliance with proven economic and scientific depth. "We can now take our clients' compounds through the preclinical drug development process and utilize state-of-the-art capabilities by integrating Bio-Quant's study execution software platform Intranet with BioTox's Sponsor friendly and GLP compliant study Data Acquisition Software, called iAdavantage, and thus accelerate the development process economically and effectively" Mr. Abunadi added. 6330 Nancy Ridge Dr, Suite 103 Phone: +1-858-222-8041 San Diego, CA 92121 Fax: +1-858-866-0482 About Apricus Biosciences, Inc. Apricus Bio, a San Diego based revenue-generating specialty biopharmaceutical company, has leveraged the flexibility of its clinically-validated NexACT® drug delivery technology to enable multi-route administration of new and improved compounds across numerous therapeutic classes. Revenues and growth are driven from out-licensing of this technology for the development and commercialization of such compounds to pharmaceutical and biotechnology companies worldwide. In addition, the Company is seeking to monetize its existing product pipeline, including its first product, Vitaros®, approved in Canada for the treatment of erectile dysfunction, which is currently expected to be available on the Canadian market in 2011, as well as compounds in development from pre-clinical through Phase III, currently focused on Sexual Dysfunction, Oncology, Dermatology, Autoimmune, Pain, Anti-Infectives, Diabetes and Cosmeceuticals among others. For further information on Apricus Bio, visit http://www.apricusbio.com , and for information on its subsidiaries please visit http://www.nexmedusa.com or http://www.bio-quant.com . You can also receive information at http://twitter.com/apricusbio and http://facebook.com/apricusbio . About BioTox Sciences BioTox Sciences, based in San Diego, is a Contract Research Organization (CRO) offering comprehensive services for nonclinical and preclinical studies (GLP and Non-GLP) utilizing state of the art vivarium(s). Its services encompass toxicology, pharmacology, metabolism testing and various disease models in support of nonclinical drug development. URL: http://www.biotoxsciences.com 6330 Nancy Ridge Dr, Suite 103 Phone: +1-858-222-8041 San Diego, CA 92121 Fax: +1-858-866-0482 Apricus Bio's Forward-Looking Statement Safe Harbor Statements under the Private Securities Litigation Reform Act, as amended: with the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risks and uncertainties that may individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company, including, but not limited to, its ability to receive the earnout payments from the sale of its Bio-Quant CRO business to BioTox Sciences, further development products and product candidates, have such products and product candidates approved by relevant regulatory authorities, to successfully commercialize its Vitaros®, Femprox®, MycoVa™, PrevOnco™ and RayVa™ products and other products and product candidates and to achieve its other development, commercialization and financial goals such as its revenue projections from the sale of its products. Readers are cautioned not to place undue reliance on these forward-looking statements as actual results could differ materially from the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's most recent annual report on Form 10-K, subsequent quarterly reports filed on Form 10-Q and other filings made with the SEC. Copies of these reports are available from the SEC's website or without charge from the Company. # # # Contacts: Apricus Biosciences, Inc. Edward Cox, V.P. Corporate Development & Investor Relations, Apricus Biosciences, Inc. (858) 848-4249 [email protected] Apricus Bio Investor Relations Paula Schwartz Rx Communications Group, LLC (917) 322-2216 [email protected] BioTox Sciences Sami Abunadi, President [email protected]
[ "EX", "-", "99", ".", "1", "3", "v227930", "_", "ex99", "-", "1", ".", "htm", "Un", "associated", "Document", "Exhibit", "99", ".", "1", "6330", "Nancy", "Ridge", "Dr", ",", "Suite", "103", "Phone", ":", "+", "1", "-", "858", "-", "222", "-", "8041", "San", "Diego", ",", "CA", "92121", "Fax", ":", "+", "1", "-", "858", "-", "866", "-", "0482", "APRICUS", "BIOSCIENCES", "SELLS", "BIO", "-", "QUANT", "CRO", "SUBSIDIARY", "TO", "BIOTOX", "SCIENCES", "-", "COMPANY", "TO", "FOCUS", "ON", "GENERATION", "OF", "REVENUES", "FROM", "COMMERCIALIZATION", "OF", "DRUG", "PIPELINE", "BASED", "ON", "NEXACT", "®", "DELIVERY", "TECHNOLOGY", "-", "SAN", "DIEGO", ",", "CA", ",", "July", "6", ",", "2011", "-", "Apricus", "Biosciences", ",", "Inc", ".", "(", "\"", "Apricus", "Bio", "\"", ")", "(", "Nasdaq", ":", "APRI", ")", "announced", "today", "that", "it", "has", "sold", "its", "wholly", "-", "owned", "subsidiary", ",", "Bio", "-", "Quant", ",", "Inc", ".", "(", "\"", "Bio", "-", "Quant", "\"", ")", ",", "a", "specialty", "biotechnology", "Contract", "Research", "Organization", "(", "\"", "CRO", "\"", ")", ",", "to", "BioTox", "Sciences", "(", "\"", "BioTox", "\"", ")", ",", "a", "San", "Diego", "-", "based", "CRO", ".", "Under", "terms", "of", "the", "agreement", ",", "Apricus", "Bio", "will", "receive", "a", "minimum", "of", "$", "5 million", "in", "up", "-", "front", "and", "future", "earn", "-", "out", "payments", ",", "with", "the", "potential", "for", "as", "much", "as", "$", "20 million", "over", "the", "next", "ten", "years", ",", "based", "on", "BioTox", "'s", "currently", "projected", "revenues", ".", "Additionally", ",", "Apricus", "Bio", "has", "retained", "all", "NexMed", "-", "related", "research", "conducted", "by", "Bio", "-", "Quant", "as", "well", "as", "the", "profitable", "Bio", "-", "Quant", "diagnostic", "kit", "business", ".", "\"", "While", "our", "Bio", "-", "Quant", "subsidiary", "has", "been", "driving", "revenues", "over", "the", "past", "year", ",", "this", "divesture", "represents", "a", "key", "strategic", "decision", "for", "Apricus", "Bio", ",", "as", "licensing", "revenues", "from", "Vitaros", "®", "have", "increased", "during", "the", "first", "half", "of", "2011", ",", "and", "are", "currently", "projected", "to", "constitute", "the", "majority", "of", "our", "revenue", "stream", "for", "the", "remainder", "of", "2011", "\"", ",", "stated", "Dr", ".", "Bassam", "Damaj", ",", "Chairman", ",", "President", "and", "Chief", "Executive", "Officer", "of", "the", "Company", ".", "\"", "The", "sale", "enables", "us", "to", "focus", "our", "efforts", "where", "we", "believe", "we", "will", "generate", "the", "greatest", "return", "on", "investment", "--", "speeding", "our", "specialty", "biopharmaceutical", "drugs", "to", "market", ".", "While", "Bio", "-", "Quant", "has", "been", "instrumental", "in", "advancing", "the", "uses", "of", "our", "NexACT", "®", "technology", "and", "preclinical", "pipeline", ",", "we", "have", "now", "entered", "the", "commercialization", "stage", "with", "our", "first", "product", "and", "intend", "to", "focus", "our", "efforts", "on", "the", "generation", "of", "revenues", "from", "our", "drug", "pipeline", "\"", ",", "continued", "Dr", ".", "Damaj", ".", "Apricus", "Bio", "'s", "top", "priority", "is", "to", "commercialize", "Vitaros", "®", ",", "for", "the", "treatment", "of", "erectile", "dysfunction", ".", "Vitaros", "®", "was", "approved", "for", "marketing", "and", "sales", "in", "Canada", "in", "2010", ",", "and", "the", "Company", "recently", "filed", "for", "approval", "in", "Europe", ".", "Management", "is", "in", "advanced", "partnering", "negotiations", "for", "Vitaros", "®", "in", "Canada", "and", "/", "or", "Europe", "and", "expects", "to", "announce", "a", "partnership", "in", "the", "second", "half", "of", "2011", ".", "In", "addition", ",", "Apricus", "Bio", "is", "focused", "on", "developing", "and", "commercializing", "the", "other", "12", "products", "and", "product", "candidates", "in", "its", "pipeline", ",", "including", "Femprox", "®", ",", "MycoVa", "™", "and", "PrevOnco", "™", ".", "Bio", "-", "Quant", ",", "founded", "in", "2001", ",", "is", "one", "of", "San", "Diego", "'s", "most", "experienced", "CROs", "for", "non", "-", "GLP", "(", "good", "laboratory", "practices", ")", "contract", "drug", "discovery", "and", "pre", "-", "clinical", "development", "services", ",", "specializing", "in", "oncology", ",", "inflammation", ",", "immunology", "and", "metabolic", "diseases", ".", "Bio", "-", "Quant", "has", "clients", "world", "-", "wide", ".", "Revenues", "are", "generated", "from", "pre", "-", "clinical", "contract", "services", "and", "housing", "services", ".", "6330", "Nancy", "Ridge", "Dr", ",", "Suite", "103", "Phone", ":", "+", "1", "-", "858", "-", "222", "-", "8041", "San", "Diego", ",", "CA", "92121", "Fax", ":", "+", "1", "-", "858", "-", "866", "-", "0482", "During", "2010", ",", "the", "Bio", "-", "Quant", "CRO", "business", "helped", "advance", "Apricus", "Bio", "'s", "proprietary", "NexACT", "®", "technology", "and", "increase", "its", "product", "and", "product", "candidate", "portfolio", "from", "four", "products", "to", "13", ".", "With", "the", "divestiture", "of", "Bio", "-", "Quant", ",", "Apricus", "Bio", "has", "decided", "to", "outsource", "its", "primary", "preclinical", "CRO", "work", "for", "its", "NexMed", "subsidiary", "and", "narrow", "its", "focus", "on", "commercializing", "its", "late", "stage", "products", "--", "Vitaros", "®", "for", "erectile", "dysfunction", ",", "Femprox", "®", "for", "female", "sexual", "arousal", "disorder", ",", "MycoVa", "™", "for", "nail", "fungus", ",", "PrevOnco", "™", "for", "liver", "cancer", "and", "RayVa", "™", "for", "Reynaud", "'s", "Syndrome", "--", "in", "addition", "to", "continuing", "to", "develop", "the", "eight", "other", ",", "earlier", "stage", "product", "candidates", "in", "its", "pipeline", ".", "BioTox", "is", "a", "San", "Diego", "CRO", "founded", "in", "2007", "that", "focuses", "primarily", "on", "GLP", "studies", "and", "has", "been", "interested", "in", "expanding", "its", "operations", "in", "San", "Diego", "on", "the", "non", "-", "GLP", "side", ".", "\"", "We", "look", "forward", "to", "seeing", "BioTox", "achieve", "even", "greater", "success", ",", "which", "will", "result", "in", "greater", "earn", "-", "out", "payments", "for", "Apricus", "Bio", "\"", ",", "said", "Dr", ".", "Damaj", ".", "\"", "We", "were", "actively", "looking", "for", "opportunities", "to", "expand", "our", "footprint", "in", "the", "Discovery", "CRO", "area", "and", "add", "more", "In", "-", "Vitro", "and", "In", "-", "Vivo", "disease", "models", "to", "increase", "the", "range", "of", "services", "we", "currently", "offer", "to", "our", "clients", "\"", ",", "stated", "BioTox", "'s", "President", ",", "Sami", "Abunadi", ",", "in", "a", "company", "statement", ".", "\"", "Bio", "-", "Quant", "offers", "a", "long", "and", "successful", "history", "in", "non", "-", "GLP", "preclinical", "research", "in", "areas", "such", "as", "oncology", ",", "inflammation", ",", "immunology", ",", "metabolic", "diseases", "and", "high", "throughput", "screening", "capabilities", ".", "We", "believe", "that", "this", "transaction", "will", "not", "only", "be", "revenue", "and", "earnings", "enhancing", "and", "highly", "valuable", "to", "our", "shareholders", ",", "but", "will", "also", "provide", "both", "a", "superior", "and", "quicker", "entry", "point", "than", "the", "other", "build", "or", "buy", "options", "we", "considered", "\"", ",", "said", "Mr", ".", "Abunadi", ".", "In", "addition", "to", "adding", "key", "services", "and", "becoming", "a", "major", "participant", "in", "Southern", "California", ",", "BioTox", "can", "now", "scale", "its", "operation", "and", "reach", "to", "become", "a", "true", "national", "and", "global", "presence", ".", "BioTox", "intends", "to", "build", "on", "its", "present", "IND", "and", "NDA", "enabling", "In", "-", "Vivo", "GLP", "toxicology", "offerings", ",", "and", "as", "such", ",", "expects", "to", "be", "able", "to", "offer", "both", "Bio", "-", "Quant", "'s", "and", "BioTox", "'s", "clients", "a", "more", "attractive", "strategic", "outsourcing", "alliance", "with", "proven", "economic", "and", "scientific", "depth", ".", "\"", "We", "can", "now", "take", "our", "clients", "'", "compounds", "through", "the", "preclinical", "drug", "development", "process", "and", "utilize", "state", "-", "of", "-", "the", "-", "art", "capabilities", "by", "integrating", "Bio", "-", "Quant", "'s", "study", "execution", "software", "platform", "Intranet", "with", "BioTox", "'s", "Sponsor", "friendly", "and", "GLP", "compliant", "study", "Data", "Acquisition", "Software", ",", "called", "iAdavantage", ",", "and", "thus", "accelerate", "the", "development", "process", "economically", "and", "effectively", "\"", "Mr", ".", "Abunadi", "added", ".", "6330", "Nancy", "Ridge", "Dr", ",", "Suite", "103", "Phone", ":", "+", "1", "-", "858", "-", "222", "-", "8041", "San", "Diego", ",", "CA", "92121", "Fax", ":", "+", "1", "-", "858", "-", "866", "-", "0482", "About", "Apricus", "Biosciences", ",", "Inc", ".", "Apricus", "Bio", ",", "a", "San", "Diego", "based", "revenue", "-", "generating", "specialty", "biopharmaceutical", "company", ",", "has", "leveraged", "the", "flexibility", "of", "its", "clinically", "-", "validated", "NexACT", "®", "drug", "delivery", "technology", "to", "enable", "multi", "-", "route", "administration", "of", "new", "and", "improved", "compounds", "across", "numerous", "therapeutic", "classes", ".", "Revenues", "and", "growth", "are", "driven", "from", "out", "-", "licensing", "of", "this", "technology", "for", "the", "development", "and", "commercialization", "of", "such", "compounds", "to", "pharmaceutical", "and", "biotechnology", "companies", "worldwide", ".", "In", "addition", ",", "the", "Company", "is", "seeking", "to", "monetize", "its", "existing", "product", "pipeline", ",", "including", "its", "first", "product", ",", "Vitaros", "®", ",", "approved", "in", "Canada", "for", "the", "treatment", "of", "erectile", "dysfunction", ",", "which", "is", "currently", "expected", "to", "be", "available", "on", "the", "Canadian", "market", "in", "2011", ",", "as", "well", "as", "compounds", "in", "development", "from", "pre", "-", "clinical", "through", "Phase", "III", ",", "currently", "focused", "on", "Sexual", "Dysfunction", ",", "Oncology", ",", "Dermatology", ",", "Autoimmune", ",", "Pain", ",", "Anti", "-", "Infectives", ",", "Diabetes", "and", "Cosmeceuticals", "among", "others", ".", "For", "further", "information", "on", "Apricus", "Bio", ",", "visit", "http://www.apricusbio.com", ",", "and", "for", "information", "on", "its", "subsidiaries", "please", "visit", "http://www.nexmedusa.com", "or", "http://www.bio-quant.com", ".", "You", "can", "also", "receive", "information", "at", "http://twitter.com/apricusbio", "and", "http://facebook.com/apricusbio", ".", "About", "BioTox", "Sciences", "BioTox", "Sciences", ",", "based", "in", "San", "Diego", ",", "is", "a", "Contract", "Research", "Organization", "(", "CRO", ")", "offering", "comprehensive", "services", "for", "nonclinical", "and", "preclinical", "studies", "(", "GLP", "and", "Non", "-", "GLP", ")", "utilizing", "state", "of", "the", "art", "vivarium", "(", "s", ")", ".", "Its", "services", "encompass", "toxicology", ",", "pharmacology", ",", "metabolism", "testing", "and", "various", "disease", "models", "in", "support", "of", "nonclinical", "drug", "development", ".", "URL", ":", "http://www.biotoxsciences.com", "6330", "Nancy", "Ridge", "Dr", ",", "Suite", "103", "Phone", ":", "+", "1", "-", "858", "-", "222", "-", "8041", "San", "Diego", ",", "CA", "92121", "Fax", ":", "+", "1", "-", "858", "-", "866", "-", "0482", "Apricus", "Bio", "'s", "Forward", "-", "Looking", "Statement", "Safe", "Harbor", "Statements", "under", "the", "Private", "Securities", "Litigation", "Reform", "Act", ",", "as", "amended", ":", "with", "the", "exception", "of", "the", "historical", "information", "contained", "in", "this", "release", ",", "the", "matters", "described", "herein", "contain", "forward", "-", "looking", "statements", "that", "involve", "risks", "and", "uncertainties", "that", "may", "individually", "or", "mutually", "impact", "the", "matters", "herein", "described", "for", "a", "variety", "of", "reasons", "that", "are", "outside", "the", "control", "of", "the", "Company", ",", "including", ",", "but", "not", "limited", "to", ",", "its", "ability", "to", "receive", "the", "earnout", "payments", "from", "the", "sale", "of", "its", "Bio", "-", "Quant", "CRO", "business", "to", "BioTox", "Sciences", ",", "further", "development", "products", "and", "product", "candidates", ",", "have", "such", "products", "and", "product", "candidates", "approved", "by", "relevant", "regulatory", "authorities", ",", "to", "successfully", "commercialize", "its", "Vitaros", "®", ",", "Femprox", "®", ",", "MycoVa", "™", ",", "PrevOnco", "™", "and", "RayVa", "™", "products", "and", "other", "products", "and", "product", "candidates", "and", "to", "achieve", "its", "other", "development", ",", "commercialization", "and", "financial", "goals", "such", "as", "its", "revenue", "projections", "from", "the", "sale", "of", "its", "products", ".", "Readers", "are", "cautioned", "not", "to", "place", "undue", "reliance", "on", "these", "forward", "-", "looking", "statements", "as", "actual", "results", "could", "differ", "materially", "from", "the", "forward", "-", "looking", "statements", "contained", "herein", ".", "Readers", "are", "urged", "to", "read", "the", "risk", "factors", "set", "forth", "in", "the", "Company", "'s", "most", "recent", "annual", "report", "on", "Form", "10", "-", "K", ",", "subsequent", "quarterly", "reports", "filed", "on", "Form", "10", "-", "Q", "and", "other", "filings", "made", "with", "the", "SEC", ".", "Copies", "of", "these", "reports", "are", "available", "from", "the", "SEC", "'s", "website", "or", "without", "charge", "from", "the", "Company", ".", "#", "#", "#", "Contacts", ":", "Apricus", "Biosciences", ",", "Inc", ".", "Edward", "Cox", ",", "V", ".", "P", ".", "Corporate", "Development", "&", "Investor", "Relations", ",", "Apricus", "Biosciences", ",", "Inc", ".", "(", "858", ")", "848", "-", "4249", "[email protected]", "Apricus", "Bio", "Investor", "Relations", "Paula", "Schwartz", "Rx", "Communications", "Group", ",", "LLC", "(", "917", ")", "322", "-", "2216", "[email protected]", "BioTox", "Sciences", "Sami", "Abunadi", ",", "President", "[email protected]" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
3982-000134100411000615-ex99-1
EX-99.1 6 ex99-1.htm EXHIBIT 99.1 - PRESS RELEASE ex99-1.htm Exhibit 99.1 Contact: Jorgen Rasmussen +47 51 30 80 00 Thorleif Egeli +47 51 30 80 00 SEAWELL - COMPLETION OF MERGER WITH ALLIS-CHALMERS ENERGY INC, Hamilton, Bermuda (February 23, 2011) Seawell Limited (OSE: SEAW) and Allis-Chalmers Energy Inc. (NYSE: ALY) announced today that the Allis-Chalmers stockholders approved the proposals related to the proposed merger of Allis-Chalmers into Wellco Sub Company, a wholly owned subsidiary of Seawell, at the special meeting held for such purpose earlier today, and that the merger has been completed. Each share of Allis-Chalmers stock will be converted into either $4.25 in cash or 1.15 common shares of Seawell, depending on elections made by the Allis-Chalmers stockholders. Seawell and Allis-Chalmers anticipate that the final election results will be determined by March 4, 2011 and that the new common shares will be issued and tradable by the same date. Seawell and Allis-Chalmers also confirmed that the deadline for Allis-Chalmers stockholders to make an election with respect to the type of merger consideration they wish to receive expired today at 5:00 p.m., Houston time. Based on the preliminary election results, approximately 97% of Allis-Chalmers stockholders elected to receive Seawell common shares and, as a result, Seawell may issue up to approximately 101 million common shares in connection with the merger, including shares issuable upon exercise of Allis-Chalmers options assumed by Seawell pursuant to the merger. Forward-Looking Statements This press release contains forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934) regarding the merger of Allis-Chalmers and Seawell. Words such as expects, anticipates, intends, plans, believes, seeks, estimates and similar expressions or variations of such words are intended to identify forward-looking statements, but are not the exclusive means of identifying forward-looking statements in this press release. Although forward-looking statements in this press release reflect the good faith judgment of our respective management teams, such statements can only be based on facts and factors that our respective management teams currently know. Consequently, forward-looking statements are inherently subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. We urge readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Allis-Chalmers and Seawell undertake no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this press release.
[ "EX", "-", "99", ".", "1", "6", "ex99", "-", "1", ".", "htm", "EXHIBIT", "99", ".", "1", "-", "PRESS", "RELEASE", "ex99", "-", "1", ".", "htm", "Exhibit", "99", ".", "1", "Contact", ":", "Jorgen", "Rasmussen", "+", "47", "51", "30", "80", "00", "Thorleif", "Egeli", "+", "47", "51", "30", "80", "00", "SEAWELL", "-", "COMPLETION", "OF", "MERGER", "WITH", "ALLIS", "-", "CHALMERS", "ENERGY", "INC", ",", "Hamilton", ",", "Bermuda", "(", "February", "23", ",", "2011", ")", "Seawell", "Limited", "(", "OSE", ":", "SEAW", ")", "and", "Allis", "-", "Chalmers", "Energy", "Inc", ".", "(", "NYSE", ":", "ALY", ")", "announced", "today", "that", "the", "Allis", "-", "Chalmers", "stockholders", "approved", "the", "proposals", "related", "to", "the", "proposed", "merger", "of", "Allis", "-", "Chalmers", "into", "Wellco", "Sub", "Company", ",", "a", "wholly", "owned", "subsidiary", "of", "Seawell", ",", "at", "the", "special", "meeting", "held", "for", "such", "purpose", "earlier", "today", ",", "and", "that", "the", "merger", "has", "been", "completed", ".", "Each", "share", "of", "Allis", "-", "Chalmers", "stock", "will", "be", "converted", "into", "either", "$", "4.25", "in", "cash", "or", "1", ".", "15", "common", "shares", "of", "Seawell", ",", "depending", "on", "elections", "made", "by", "the", "Allis", "-", "Chalmers", "stockholders", ".", "Seawell", "and", "Allis", "-", "Chalmers", "anticipate", "that", "the", "final", "election", "results", "will", "be", "determined", "by", "March", "4", ",", "2011", "and", "that", "the", "new", "common", "shares", "will", "be", "issued", "and", "tradable", "by", "the", "same", "date", ".", "Seawell", "and", "Allis", "-", "Chalmers", "also", "confirmed", "that", "the", "deadline", "for", "Allis", "-", "Chalmers", "stockholders", "to", "make", "an", "election", "with", "respect", "to", "the", "type", "of", "merger", "consideration", "they", "wish", "to", "receive", "expired", "today", "at", "5", ":", "00", "p.m.", ",", "Houston", "time", ".", "Based", "on", "the", "preliminary", "election", "results", ",", "approximately", "97", "%", "of", "Allis", "-", "Chalmers", "stockholders", "elected", "to", "receive", "Seawell", "common", "shares", "and", ",", "as", "a", "result", ",", "Seawell", "may", "issue", "up", "to", "approximately", "101", "million", "common", "shares", "in", "connection", "with", "the", "merger", ",", "including", "shares", "issuable", "upon", "exercise", "of", "Allis", "-", "Chalmers", "options", "assumed", "by", "Seawell", "pursuant", "to", "the", "merger", ".", "Forward", "-", "Looking", "Statements", "This", "press", "release", "contains", "forward", "-", "looking", "statements", "(", "within", "the", "meaning", "of", "Section", "27A", "of", "the", "Securities", "Act", "of", "1933", "and", "Section", "21E", "of", "the", "Securities", "Exchange", "Act", "of", "1934", ")", "regarding", "the", "merger", "of", "Allis", "-", "Chalmers", "and", "Seawell", ".", "Words", "such", "as", "expects", ",", "anticipates", ",", "intends", ",", "plans", ",", "believes", ",", "seeks", ",", "estimates", "and", "similar", "expressions", "or", "variations", "of", "such", "words", "are", "intended", "to", "identify", "forward", "-", "looking", "statements", ",", "but", "are", "not", "the", "exclusive", "means", "of", "identifying", "forward", "-", "looking", "statements", "in", "this", "press", "release", ".", "Although", "forward", "-", "looking", "statements", "in", "this", "press", "release", "reflect", "the", "good", "faith", "judgment", "of", "our", "respective", "management", "teams", ",", "such", "statements", "can", "only", "be", "based", "on", "facts", "and", "factors", "that", "our", "respective", "management", "teams", "currently", "know", ".", "Consequently", ",", "forward", "-", "looking", "statements", "are", "inherently", "subject", "to", "risks", "and", "uncertainties", ",", "and", "actual", "results", "and", "outcomes", "may", "differ", "materially", "from", "the", "results", "and", "outcomes", "discussed", "in", "the", "forward", "-", "looking", "statements", ".", "We", "urge", "readers", "not", "to", "place", "undue", "reliance", "on", "these", "forward", "-", "looking", "statements", ",", "which", "speak", "only", "as", "of", "the", "date", "of", "this", "press", "release", ".", "Allis", "-", "Chalmers", "and", "Seawell", "undertake", "no", "obligation", "to", "revise", "or", "update", "any", "forward", "-", "looking", "statements", "in", "order", "to", "reflect", "any", "event", "or", "circumstance", "that", "may", "arise", "after", "the", "date", "of", "this", "press", "release", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1126216-000110801707000587-ex991
EX-99.1 4 ex991.htm PRESS RELEASE OF XFONE, INC. DATED AUGUST 15, 2007. Unassociated Document Exhibit 99.1 XFONE COMPLETES ACQUISITION OF AURACALL LIMITED - Acquisition Supports European Expansion - Jackson, MS - August 15, 2007 - XFONE, Inc. (AMEX and TASE: XFN), an international diversified communications services company today announced that its wholly-owned subsidiary, Swiftnet Limited, has increased its holding in Auracall from 32.5% to 100%. Auracall is a profitable and growing telecommunication service provider specializing in supplying solutions for ethnic communities in the UK making low cost international calls home. Auracall serves over 300,000 customers every month through an innovative range of services allowing customers to make low cost international calls from both landlines and mobile phones. Customers pay for calls through premium rate texts (the T-Talk service), calling a premium rate top-up number (the Crazytel service) or by dialing an 08 access number (the FreeTime service). Auracall sells primarily through a network of over 100 loyal agents. Guy Nissenson, President and CEO of XFONE, Inc. noted, "In 2001 we were a founding partner in Auracall and the company has exceeded our original growth expectations. Auracall has become a recognized brand and a leader in the markets it serves and we were delighted to be offered an opportunity to purchase 100% of the business. The acquisition is immediately accretive and is expected to support Xfone's EBITDA growth targets". The terms of the acquisition provide for Swiftnet to increase its current share in Auracall from 32.5% to 100% in a cash transaction valued at $1.6 million. For specific terms of the transaction see Xfone, Inc.'s Current Report on Form 8-K to be filed with the U.S. Securities and Exchange Commission within the required time period. The transaction will be financed from internal cash resources. Auracall will be a division of the XFONE operation in the UK, which currently consists of Swiftnet, Equitalk.co.uk Limited (a 100% owned subsidiary) and Story Telecom Limited (a 69.6% owned subsidiary). John Burton, Managing Director of Swiftnet commented, "Swiftnet and Auracall already work closely together and the Auracall team will be a fantastic addition to our UK operations. They will contribute additional sales, marketing and technical skills. Going forward, we plan to build on the historic success of Auracall by combining Xfone UK switching infrastructure and Auracall marketing expertise to enable organic growth into additional European countries". About XFONE, Inc. A U.S.-domiciled corporation, XFONE, Inc. is an international voice, video and data communications services provider with operations in the United Kingdom, the United States and Israel that offers a wide range of services, which include: local, long distance and international telephony services; prepaid and postpaid calling cards; cellular services; Internet services; messaging services (Email/Fax Broadcast, Email2Fax and Cyber-Number); and reselling opportunities. The Company serves customers across Europe, Asia, North, Central and South America, Australia and Africa. This press release contains forward-looking statements. The words or phrases "should", "would be", "will allow", "intends to", "will likely result", "are expected to", "will continue", "is anticipated", "estimate", "project", or similar expressions are intended to identify "forward-looking statements". The Company's financial results reflected above should not be construed by any means as representative of the current or future value of its common stock. All information set forth in this press release, except historical and factual information, represents forward-looking statements. This includes all statements about the company's plans, beliefs, estimates and expectations. These statements are based on current estimates and projections, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These risks and uncertainties include issues related to rapidly changing technology and evolving standards in the industries in which the Company and its subsidiaries operate; the ability to obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new business, and license and sign new agreements; the unpredictable nature of consumer preferences; and other factors set forth in the Company's most recently filed annual report and registration statement. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Readers should carefully review the risks and uncertainties described in other documents that the Company files from time to time with the U.S. Securities and Exchange Commission. For More Information, Please Contact: U.K. Company Contact U.S. IR Contact Israel IR Contact John Burton Swiftnet Managing Director Phone: +44 (0) 208 497 9233 E-mail: [email protected] John Nesbett/Jen Belodeau Institutional Marketing Services (IMS) Phone: 1.203.972.9200. E-mail: [email protected] Zvi Rabin Kwan Communications Tel: (Israel) +972 50 560 0140 E-mail: [email protected]
[ "EX", "-", "99", ".", "1", "4", "ex991", ".", "htm", "PRESS", "RELEASE", "OF", "XFONE", ",", "INC", ".", "DATED", "AUGUST", "15", ",", "2007", ".", "Un", "associated", "Document", "Exhibit", "99", ".", "1", "XFONE", "COMPLETES", "ACQUISITION", "OF", "AURACALL", "LIMITED", "-", "Acquisition", "Supports", "European", "Expansion", "-", "Jackson", ",", "MS", "-", "August", "15", ",", "2007", "-", "XFONE", ",", "Inc", ".", "(", "AMEX", "and", "TASE", ":", "XFN", ")", ",", "an", "international", "diversified", "communications", "services", "company", "today", "announced", "that", "its", "wholly", "-", "owned", "subsidiary", ",", "Swiftnet", "Limited", ",", "has", "increased", "its", "holding", "in", "Auracall", "from", "32", ".", "5", "%", "to", "100", "%", ".", "Auracall", "is", "a", "profitable", "and", "growing", "telecommunication", "service", "provider", "specializing", "in", "supplying", "solutions", "for", "ethnic", "communities", "in", "the", "UK", "making", "low", "cost", "international", "calls", "home", ".", "Auracall", "serves", "over", "300,000", "customers", "every", "month", "through", "an", "innovative", "range", "of", "services", "allowing", "customers", "to", "make", "low", "cost", "international", "calls", "from", "both", "landlines", "and", "mobile", "phones", ".", "Customers", "pay", "for", "calls", "through", "premium", "rate", "texts", "(", "the", "T", "-", "Talk", "service", ")", ",", "calling", "a", "premium", "rate", "top", "-", "up", "number", "(", "the", "Crazytel", "service", ")", "or", "by", "dialing", "an", "08", "access", "number", "(", "the", "FreeTime", "service", ")", ".", "Auracall", "sells", "primarily", "through", "a", "network", "of", "over", "100", "loyal", "agents", ".", "Guy", "Nissenson", ",", "President", "and", "CEO", "of", "XFONE", ",", "Inc", ".", "noted", ",", "\"", "In", "2001", "we", "were", "a", "founding", "partner", "in", "Auracall", "and", "the", "company", "has", "exceeded", "our", "original", "growth", "expectations", ".", "Auracall", "has", "become", "a", "recognized", "brand", "and", "a", "leader", "in", "the", "markets", "it", "serves", "and", "we", "were", "delighted", "to", "be", "offered", "an", "opportunity", "to", "purchase", "100", "%", "of", "the", "business", ".", "The", "acquisition", "is", "immediately", "accretive", "and", "is", "expected", "to", "support", "Xfone", "'s", "EBITDA", "growth", "targets", "\"", ".", "The", "terms", "of", "the", "acquisition", "provide", "for", "Swiftnet", "to", "increase", "its", "current", "share", "in", "Auracall", "from", "32", ".", "5", "%", "to", "100", "%", "in", "a", "cash", "transaction", "valued", "at", "$", "1.6 million", ".", "For", "specific", "terms", "of", "the", "transaction", "see", "Xfone", ",", "Inc", ".", "'s", "Current", "Report", "on", "Form", "8", "-", "K", "to", "be", "filed", "with", "the", "U", ".", "S", ".", "Securities", "and", "Exchange", "Commission", "within", "the", "required", "time", "period", ".", "The", "transaction", "will", "be", "financed", "from", "internal", "cash", "resources", ".", "Auracall", "will", "be", "a", "division", "of", "the", "XFONE", "operation", "in", "the", "UK", ",", "which", "currently", "consists", "of", "Swiftnet", ",", "Equitalk.co.uk", "Limited", "(", "a", "100", "%", "owned", "subsidiary", ")", "and", "Story", "Telecom", "Limited", "(", "a", "69", ".", "6", "%", "owned", "subsidiary", ")", ".", "John", "Burton", ",", "Managing", "Director", "of", "Swiftnet", "commented", ",", "\"", "Swiftnet", "and", "Auracall", "already", "work", "closely", "together", "and", "the", "Auracall", "team", "will", "be", "a", "fantastic", "addition", "to", "our", "UK", "operations", ".", "They", "will", "contribute", "additional", "sales", ",", "marketing", "and", "technical", "skills", ".", "Going", "forward", ",", "we", "plan", "to", "build", "on", "the", "historic", "success", "of", "Auracall", "by", "combining", "Xfone", "UK", "switching", "infrastructure", "and", "Auracall", "marketing", "expertise", "to", "enable", "organic", "growth", "into", "additional", "European", "countries", "\"", ".", "About", "XFONE", ",", "Inc", ".", "A", "U", ".", "S", ".", "-", "domiciled", "corporation", ",", "XFONE", ",", "Inc", ".", "is", "an", "international", "voice", ",", "video", "and", "data", "communications", "services", "provider", "with", "operations", "in", "the", "United", "Kingdom", ",", "the", "United", "States", "and", "Israel", "that", "offers", "a", "wide", "range", "of", "services", ",", "which", "include", ":", "local", ",", "long", "distance", "and", "international", "telephony", "services", ";", "prepaid", "and", "postpaid", "calling", "cards", ";", "cellular", "services", ";", "Internet", "services", ";", "messaging", "services", "(", "Email", "/", "Fax", "Broadcast", ",", "Email2Fax", "and", "Cyber", "-", "Number", ")", ";", "and", "reselling", "opportunities", ".", "The", "Company", "serves", "customers", "across", "Europe", ",", "Asia", ",", "North", ",", "Central", "and", "South", "America", ",", "Australia", "and", "Africa", ".", "This", "press", "release", "contains", "forward", "-", "looking", "statements", ".", "The", "words", "or", "phrases", "\"", "should", "\"", ",", "\"", "would", "be", "\"", ",", "\"", "will", "allow", "\"", ",", "\"", "intends", "to", "\"", ",", "\"", "will", "likely", "result", "\"", ",", "\"", "are", "expected", "to", "\"", ",", "\"", "will", "continue", "\"", ",", "\"", "is", "anticipated", "\"", ",", "\"", "estimate", "\"", ",", "\"", "project", "\"", ",", "or", "similar", "expressions", "are", "intended", "to", "identify", "\"", "forward", "-", "looking", "statements", "\"", ".", "The", "Company", "'s", "financial", "results", "reflected", "above", "should", "not", "be", "construed", "by", "any", "means", "as", "representative", "of", "the", "current", "or", "future", "value", "of", "its", "common", "stock", ".", "All", "information", "set", "forth", "in", "this", "press", "release", ",", "except", "historical", "and", "factual", "information", ",", "represents", "forward", "-", "looking", "statements", ".", "This", "includes", "all", "statements", "about", "the", "company", "'s", "plans", ",", "beliefs", ",", "estimates", "and", "expectations", ".", "These", "statements", "are", "based", "on", "current", "estimates", "and", "projections", ",", "which", "involve", "certain", "risks", "and", "uncertainties", "that", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "in", "the", "forward", "-", "looking", "statements", ".", "These", "risks", "and", "uncertainties", "include", "issues", "related", "to", "rapidly", "changing", "technology", "and", "evolving", "standards", "in", "the", "industries", "in", "which", "the", "Company", "and", "its", "subsidiaries", "operate", ";", "the", "ability", "to", "obtain", "sufficient", "funding", "to", "continue", "operations", ",", "maintain", "adequate", "cash", "flow", ",", "profitably", "exploit", "new", "business", ",", "and", "license", "and", "sign", "new", "agreements", ";", "the", "unpredictable", "nature", "of", "consumer", "preferences", ";", "and", "other", "factors", "set", "forth", "in", "the", "Company", "'", "s", "most", "recently", "filed", "annual", "report", "and", "registration", "statement", ".", "Readers", "are", "cautioned", "not", "to", "place", "undue", "reliance", "on", "these", "forward", "-", "looking", "statements", ",", "which", "reflect", "management", "'s", "analysis", "only", "as", "of", "the", "date", "hereof", ".", "The", "Company", "undertakes", "no", "obligation", "to", "publicly", "revise", "these", "forward", "-", "looking", "statements", "to", "reflect", "events", "or", "circumstances", "that", "arise", "after", "the", "date", "hereof", ".", "Readers", "should", "carefully", "review", "the", "risks", "and", "uncertainties", "described", "in", "other", "documents", "that", "the", "Company", "files", "from", "time", "to", "time", "with", "the", "U", ".", "S", ".", "Securities", "and", "Exchange", "Commission", ".", "For", "More", "Information", ",", "Please", "Contact", ":", "U", ".", "K", ".", "Company", "Contact", "U", ".", "S", ".", "IR", "Contact", "Israel", "IR", "Contact", "John", "Burton", "Swiftnet", "Managing", "Director", "Phone", ":", "+", "44", "(", "0", ")", "208", "497", "9233", "E", "-", "mail", ":", "[email protected]", "John", "Nesbett", "/", "Jen", "Belodeau", "Institutional", "Marketing", "Services", "(", "IMS", ")", "Phone", ":", "1", ".", "203", ".", "972", ".", "9200", ".", "E", "-", "mail", ":", "[email protected]", "Zvi", "Rabin", "Kwan", "Communications", "Tel", ":", "(", "Israel", ")", "+", "972", "50", "560", "0140", "E", "-", "mail", ":", "[email protected]" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1077183-000107718320000006-a99-1humanlongevitypre
EX-99.1 3 a99-1humanlongevitypre.htm EX-99.1 Document Exhibit 99.1 NeoGenomics Acquires Oncology Division from Human Longevity for $37 Million Significantly Enhances Next Generation Sequencing Capabilities for Pharmaceutical Customers FT. MYERS, FL / ACCESSWIRE / January 10, 2020 / NeoGenomics, Inc. (NASDAQ:NEO,) a leading provider of cancer-focused genetic testing services, announced today that the company has acquired the Oncology Division assets of Human Longevity, Inc. for $37 million. The transaction closed today and was financed via available cash on hand. The Oncology Division of Human Longevity performs Next Generation Sequencing services for pharmaceutical customers. The Division generated approximately $10 million in revenues in 2019 and ended the year with a backlog of approximately $15 million of signed contracts. NeoGenomics expects acquired assets to be slightly dilutive to 2020 Adj. EBITDA before becoming accretive in 2021 and beyond. "The acquisition of the Oncology Division assets from Human Longevity significantly enhances our position as a leading provider of Pharma Services and Next Generation Sequencing." said Douglas M. VanOort, Chairman and CEO of NeoGenomics. This acquisition will expand our Pharma Services menu to include germline, whole exome and whole genome sequencing. We are delighted to add an experienced, specialized molecular workforce with strong Next Generation Sequencing expertise, particularly in servicing pharmaceutical customers, and I am pleased to welcome the Human Longevity Oncology Division employees to NeoGenomics". About NeoGenomics, Inc. NeoGenomics, Inc. specializes in cancer genetics testing and information services. The Company provides one of the most comprehensive oncology-focused testing menus in the world for physicians to help them diagnose and treat cancer. The Company's Pharma Services Division serves pharmaceutical clients in clinical trials and drug development. Headquartered in Fort Myers, FL, NeoGenomics operates CAP accredited laboratories in Ft. Myers and Tampa, Florida; Aliso Viejo, Carlsbad and Fresno California; Houston, Texas; Atlanta, Georgia; Nashville, Tennessee; Rolle, Switzerland, and Singapore. NeoGenomics serves the needs of pathologists, oncologists, academic centers, hospital systems, pharmaceutical firms, integrated service delivery networks, and managed care organizations throughout the United States, and pharmaceutical firms in Europe and Asia. For additional information about NeoGenomics, visit http://www.neogenomics.com/. Forward Looking Statements Certain information contained in this press release constitutes forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. These forward looking statements involve a number of risks and uncertainties that could cause actual future results to differ materially from those anticipated in the forward-looking statements as the result of the Company's ability to continue gaining new customers, offer new types of tests, integrate its acquisitions and otherwise implement its business plan, as well as additional factors discussed under the heading "Risk Factors" and elsewhere in the Company's Annual Report on Form 10-K filed with the SEC on February 26, 2019, amended by a 10K/A filed with the SEC on May 8, 2019. As a result, this press release should be read in conjunction with the Company's periodic filings with the SEC. In addition, it is the Company's practice to make information about the Company available by posting copies of its Company Overview Presentation from time to time on the Investor Relations section of its website at http://ir.neogenomics.com/. Forward-looking statements represent the Company's estimates only as of the date such statements are made (unless another date is indicated) and should not be relied upon as representing the Company's estimates as of any subsequent date. While the Company may elect to update forward-looking statements at some point in the future, it specifically disclaims any obligation to do so, even if its estimates change. For further information, please contact: NeoGenomics, Inc. William Bonello Chief Strategy and Corporate Development Officer Director, Investor Relations (239)690-4238 (w) (239)284-4314 (m) [email protected] SOURCE: NeoGenomics, Inc. View source version on accesswire.com: https://www.accesswire.com/572699/NeoGenomics-Acquires-Oncology-Division-from-Human-Longevity-for-37- Million 2
[ "EX", "-", "99", ".", "1", "3", "a99", "-", "1humanlongevitypre", ".", "htm", "EX", "-", "99", ".", "1", "Document", "Exhibit", "99", ".", "1", "NeoGenomics", "Acquires", "Oncology", "Division", "from", "Human", "Longevity", "for", "$", "37 Million", "Significantly", "Enhances", "Next", "Generation", "Sequencing", "Capabilities", "for", "Pharmaceutical", "Customers", "FT", ".", "MYERS", ",", "FL", "/", "ACCESSWIRE", "/", "January", "10", ",", "2020", "/", "NeoGenomics", ",", "Inc", ".", "(", "NASDAQ", ":", "NEO", ",", ")", "a", "leading", "provider", "of", "cancer", "-", "focused", "genetic", "testing", "services", ",", "announced", "today", "that", "the", "company", "has", "acquired", "the", "Oncology", "Division", "assets", "of", "Human", "Longevity", ",", "Inc", ".", "for", "$", "37 million", ".", "The", "transaction", "closed", "today", "and", "was", "financed", "via", "available", "cash", "on", "hand", ".", "The", "Oncology", "Division", "of", "Human", "Longevity", "performs", "Next", "Generation", "Sequencing", "services", "for", "pharmaceutical", "customers", ".", "The", "Division", "generated", "approximately", "$", "10 million", "in", "revenues", "in", "2019", "and", "ended", "the", "year", "with", "a", "backlog", "of", "approximately", "$", "15 million", "of", "signed", "contracts", ".", "NeoGenomics", "expects", "acquired", "assets", "to", "be", "slightly", "dilutive", "to", "2020", "Adj", ".", "EBITDA", "before", "becoming", "accretive", "in", "2021", "and", "beyond", ".", "\"", "The", "acquisition", "of", "the", "Oncology", "Division", "assets", "from", "Human", "Longevity", "significantly", "enhances", "our", "position", "as", "a", "leading", "provider", "of", "Pharma", "Services", "and", "Next", "Generation", "Sequencing", ".", "\"", "said", "Douglas", "M", ".", "VanOort", ",", "Chairman", "and", "CEO", "of", "NeoGenomics", ".", "This", "acquisition", "will", "expand", "our", "Pharma", "Services", "menu", "to", "include", "germline", ",", "whole", "exome", "and", "whole", "genome", "sequencing", ".", "We", "are", "delighted", "to", "add", "an", "experienced", ",", "specialized", "molecular", "workforce", "with", "strong", "Next", "Generation", "Sequencing", "expertise", ",", "particularly", "in", "servicing", "pharmaceutical", "customers", ",", "and", "I", "am", "pleased", "to", "welcome", "the", "Human", "Longevity", "Oncology", "Division", "employees", "to", "NeoGenomics", "\"", ".", "About", "NeoGenomics", ",", "Inc", ".", "NeoGenomics", ",", "Inc", ".", "specializes", "in", "cancer", "genetics", "testing", "and", "information", "services", ".", "The", "Company", "provides", "one", "of", "the", "most", "comprehensive", "oncology", "-", "focused", "testing", "menus", "in", "the", "world", "for", "physicians", "to", "help", "them", "diagnose", "and", "treat", "cancer", ".", "The", "Company", "'s", "Pharma", "Services", "Division", "serves", "pharmaceutical", "clients", "in", "clinical", "trials", "and", "drug", "development", ".", "Headquartered", "in", "Fort", "Myers", ",", "FL", ",", "NeoGenomics", "operates", "CAP", "accredited", "laboratories", "in", "Ft", ".", "Myers", "and", "Tampa", ",", "Florida", ";", "Aliso", "Viejo", ",", "Carlsbad", "and", "Fresno", "California", ";", "Houston", ",", "Texas", ";", "Atlanta", ",", "Georgia", ";", "Nashville", ",", "Tennessee", ";", "Rolle", ",", "Switzerland", ",", "and", "Singapore", ".", "NeoGenomics", "serves", "the", "needs", "of", "pathologists", ",", "oncologists", ",", "academic", "centers", ",", "hospital", "systems", ",", "pharmaceutical", "firms", ",", "integrated", "service", "delivery", "networks", ",", "and", "managed", "care", "organizations", "throughout", "the", "United", "States", ",", "and", "pharmaceutical", "firms", "in", "Europe", "and", "Asia", ".", "For", "additional", "information", "about", "NeoGenomics", ",", "visit", "http://www.neogenomics.com/", ".", "Forward", "Looking", "Statements", "Certain", "information", "contained", "in", "this", "press", "release", "constitutes", "forward", "-", "looking", "statements", "for", "purposes", "of", "the", "safe", "harbor", "provisions", "of", "The", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "These", "forward", "looking", "statements", "involve", "a", "number", "of", "risks", "and", "uncertainties", "that", "could", "cause", "actual", "future", "results", "to", "differ", "materially", "from", "those", "anticipated", "in", "the", "forward", "-", "looking", "statements", "as", "the", "result", "of", "the", "Company", "'s", "ability", "to", "continue", "gaining", "new", "customers", ",", "offer", "new", "types", "of", "tests", ",", "integrate", "its", "acquisitions", "and", "otherwise", "implement", "its", "business", "plan", ",", "as", "well", "as", "additional", "factors", "discussed", "under", "the", "heading", "\"", "Risk", "Factors", "\"", "and", "elsewhere", "in", "the", "Company", "'s", "Annual", "Report", "on", "Form", "10", "-", "K", "filed", "with", "the", "SEC", "on", "February", "26", ",", "2019", ",", "amended", "by", "a", "10K", "/", "A", "filed", "with", "the", "SEC", "on", "May", "8", ",", "2019", ".", "As", "a", "result", ",", "this", "press", "release", "should", "be", "read", "in", "conjunction", "with", "the", "Company", "'s", "periodic", "filings", "with", "the", "SEC", ".", "In", "addition", ",", "it", "is", "the", "Company", "'s", "practice", "to", "make", "information", "about", "the", "Company", "available", "by", "posting", "copies", "of", "its", "Company", "Overview", "Presentation", "from", "time", "to", "time", "on", "the", "Investor", "Relations", "section", "of", "its", "website", "at", "http://ir.neogenomics.com/", ".", "Forward", "-", "looking", "statements", "represent", "the", "Company", "'s", "estimates", "only", "as", "of", "the", "date", "such", "statements", "are", "made", "(", "unless", "another", "date", "is", "indicated", ")", "and", "should", "not", "be", "relied", "upon", "as", "representing", "the", "Company", "'s", "estimates", "as", "of", "any", "subsequent", "date", ".", "While", "the", "Company", "may", "elect", "to", "update", "forward", "-", "looking", "statements", "at", "some", "point", "in", "the", "future", ",", "it", "specifically", "disclaims", "any", "obligation", "to", "do", "so", ",", "even", "if", "its", "estimates", "change", ".", "For", "further", "information", ",", "please", "contact", ":", "NeoGenomics", ",", "Inc", ".", "William", "Bonello", "Chief", "Strategy", "and", "Corporate", "Development", "Officer", "Director", ",", "Investor", "Relations", "(", "239", ")", "690", "-", "4238", "(", "w", ")", "(", "239", ")", "284", "-", "4314", "(", "m", ")", "[email protected]", "SOURCE", ":", "NeoGenomics", ",", "Inc", ".", "View", "source", "version", "on", "accesswire.com", ":", "https://www.accesswire.com/572699/NeoGenomics-Acquires-Oncology-Division-from-Human-Longevity-for-37-", "Million", "2" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Generic_Info.ANNUAL_REVENUES", "I-Generic_Info.ANNUAL_REVENUES", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1063344-000106334413000018-ht-20131220ex9926c2372
EX-99.2 3 ht-20131220ex9926c2372.htm EX-99.2 Exhibit 992 Exhibit 99.2 HERSHA HOSPITALITY TRUST CLOSES ON NON-CORE PORTFOLIO SALE - Generates Gross Proceeds of $158.6 Million - PHILADELPHIA, PA-December 19, 2013 -- Hersha Hospitality Trust (NYSE: HT, "Hersha" or "the Company"), owner of upscale hotels in urban gateway markets, announced that the Company has closed on the sale of 12 of 16 hotels included within the non-core hotel portfolio the Company previously announced in September 2013. The sale of the 12 hotels generated gross proceeds, prior to customary closing and transaction costs payable by the Company, of approximately $158.6 million. Proceeds from the sale of the 12 hotels were used to repay approximately $33.0 million of mortgage debt. Hersha has continued to effectively recycle capital and reinvest the proceeds from the non-core portfolio sale into higher growth assets on the West Coast and in Miami. The Company recently announced that it entered into agreements to purchase the Hotel Oceana in Santa Barbara and the Autograph Portfolio in Miami's South Beach. Additionally, the Company continues to consider stock buybacks as a use of proceeds under its previously announced stock re-purchase program. The Company expects to complete the sale of the remaining four hotels by the end of the first quarter of 2014, pending completion of the CMBS loan assumption process. However, no assurance can be given that these hotels will be sold within the expected time frame or at all. When the remaining four hotels are sold, the non-core portfolio sale will complete Hersha's portfolio transformation into a pure play urban transient-focused collection of hotels with exposure to some of the highest demand gateway markets in the United States. *** Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale hotels in urban gateway markets. The Company's 50 hotels totaling 7,900 rooms are located in New York, Boston, Philadelphia, Washington, DC, Miami and select markets on the West Coast. The Company's shares are traded on The New York Stock Exchange-Euronext under the ticker "HT". For more information on the Company, and the Company's hotel portfolio, please visit the Company's website at www.hersha.com. Forward Looking Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including the expected timing with respect to the sale of the remaining four hotels in the non-core hotel portfolio, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those reflected in the forward-looking statement. For a description of these factors, please review the information under the heading "Risk Factors" included in Hersha Hospitality Trust's Annual Report on Form 10-K for the year ended December 31, 2012, filed with the U.S. Securities Exchange Commission. Contact: Ashish Parikh, Chief Financial Officer Phone: (215) 238-1046
[ "EX", "-", "99", ".", "2", "3", "ht", "-", "20131220ex9926c2372", ".", "htm", "EX", "-", "99", ".", "2", "Exhibit", "992", "Exhibit", "99", ".", "2", "HERSHA", "HOSPITALITY", "TRUST", "CLOSES", "ON", "NON", "-", "CORE", "PORTFOLIO", "SALE", "-", "Generates", "Gross", "Proceeds", "of", "$", "158.6 Million", "-", "PHILADELPHIA", ",", "PA", "-", "December", "19", ",", "2013", "--", "Hersha", "Hospitality", "Trust", "(", "NYSE", ":", "HT", ",", "\"", "Hersha", "\"", "or", "\"", "the", "Company", "\"", ")", ",", "owner", "of", "upscale", "hotels", "in", "urban", "gateway", "markets", ",", "announced", "that", "the", "Company", "has", "closed", "on", "the", "sale", "of", "12", "of", "16", "hotels", "included", "within", "the", "non", "-", "core", "hotel", "portfolio", "the", "Company", "previously", "announced", "in", "September", "2013", ".", "The", "sale", "of", "the", "12", "hotels", "generated", "gross", "proceeds", ",", "prior", "to", "customary", "closing", "and", "transaction", "costs", "payable", "by", "the", "Company", ",", "of", "approximately", "$", "158.6 million", ".", "Proceeds", "from", "the", "sale", "of", "the", "12", "hotels", "were", "used", "to", "repay", "approximately", "$", "33.0 million", "of", "mortgage", "debt", ".", "Hersha", "has", "continued", "to", "effectively", "recycle", "capital", "and", "reinvest", "the", "proceeds", "from", "the", "non", "-", "core", "portfolio", "sale", "into", "higher", "growth", "assets", "on", "the", "West", "Coast", "and", "in", "Miami", ".", "The", "Company", "recently", "announced", "that", "it", "entered", "into", "agreements", "to", "purchase", "the", "Hotel", "Oceana", "in", "Santa", "Barbara", "and", "the", "Autograph", "Portfolio", "in", "Miami", "'s", "South", "Beach", ".", "Additionally", ",", "the", "Company", "continues", "to", "consider", "stock", "buybacks", "as", "a", "use", "of", "proceeds", "under", "its", "previously", "announced", "stock", "re", "-", "purchase", "program", ".", "The", "Company", "expects", "to", "complete", "the", "sale", "of", "the", "remaining", "four", "hotels", "by", "the", "end", "of", "the", "first", "quarter", "of", "2014", ",", "pending", "completion", "of", "the", "CMBS", "loan", "assumption", "process", ".", "However", ",", "no", "assurance", "can", "be", "given", "that", "these", "hotels", "will", "be", "sold", "within", "the", "expected", "time", "frame", "or", "at", "all", ".", "When", "the", "remaining", "four", "hotels", "are", "sold", ",", "the", "non", "-", "core", "portfolio", "sale", "will", "complete", "Hersha", "'s", "portfolio", "transformation", "into", "a", "pure", "play", "urban", "transient", "-", "focused", "collection", "of", "hotels", "with", "exposure", "to", "some", "of", "the", "highest", "demand", "gateway", "markets", "in", "the", "United", "States", ".", "***", "Hersha", "Hospitality", "Trust", "(", "HT", ")", "is", "a", "self", "-", "advised", "real", "estate", "investment", "trust", "in", "the", "hospitality", "sector", ",", "which", "owns", "and", "operates", "high", "quality", "upscale", "hotels", "in", "urban", "gateway", "markets", ".", "The", "Company", "'s", "50", "hotels", "totaling", "7,900", "rooms", "are", "located", "in", "New", "York", ",", "Boston", ",", "Philadelphia", ",", "Washington", ",", "DC", ",", "Miami", "and", "select", "markets", "on", "the", "West", "Coast", ".", "The", "Company", "'s", "shares", "are", "traded", "on", "The", "New", "York", "Stock", "Exchange", "-", "Euronext", "under", "the", "ticker", "\"", "HT", "\"", ".", "For", "more", "information", "on", "the", "Company", ",", "and", "the", "Company", "'s", "hotel", "portfolio", ",", "please", "visit", "the", "Company", "'s", "website", "at", "www.hersha.com", ".", "Forward", "Looking", "Statement", "This", "press", "release", "contains", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ",", "including", "the", "expected", "timing", "with", "respect", "to", "the", "sale", "of", "the", "remaining", "four", "hotels", "in", "the", "non", "-", "core", "hotel", "portfolio", ",", "and", ",", "as", "such", ",", "may", "involve", "known", "and", "unknown", "risks", ",", "uncertainties", "and", "other", "factors", "that", "may", "cause", "the", "actual", "results", "or", "performance", "to", "differ", "from", "those", "reflected", "in", "the", "forward", "-", "looking", "statement", ".", "For", "a", "description", "of", "these", "factors", ",", "please", "review", "the", "information", "under", "the", "heading", "\"", "Risk", "Factors", "\"", "included", "in", "Hersha", "Hospitality", "Trust", "'s", "Annual", "Report", "on", "Form", "10", "-", "K", "for", "the", "year", "ended", "December", "31", ",", "2012", ",", "filed", "with", "the", "U", ".", "S", ".", "Securities", "Exchange", "Commission", ".", "Contact", ":", "Ashish", "Parikh", ",", "Chief", "Financial", "Officer", "Phone", ":", "(", "215", ")", "238", "-", "1046" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1311926-000110465906056033-a06-18118_1ex99d1
EX-99.1 13 a06-18118_1ex99d1.htm EX-99 Exhibit 99.1 FOR IMMEDIATE RELEASE Contact Information David Gandrud Director of Marketing, Hospitality [email protected] 612 851 1518 Susan Eich Investor Relations [email protected] 612 851 6205 SOFTBRANDS COMPLETES ACQUISITION OF HOTEL INFORMATION SYSTEMS MINNEAPOLIS - Aug. 15, 2006 - SoftBrands, Inc. (AMEX:SBN), a global supplier of enterprise application software, has completed its acquisition of MAI Systems Corporation and its subsidiary Hotel Information Systems (HIS). SoftBrands has completed its financing and has executed a credit agreement providing $21 million to finance the acquisition under a term loan maturing in seven years. The principal amount of the term loan is repayable in 78 equal monthly installments, commencing March 2007. The Credit Agreement also provides for a revolving line of credit under which SoftBrands may borrow up to $9 million, subject to certain conditions. Borrowings bear interest, payable monthly, ranging from 1.0% to 1.75% over the lenders' prime rate, or from 2.0% to 2.75% over the London Inter Bank Offered Rate, depending on certain levels of earnings of SoftBrands for the twelve months preceding the monthly calculation date. SoftBrands also closed on the sale of 5,000 shares of its Series D Convertible Preferred Stock and warrants to purchase 333,333 shares of common stock for gross proceeds of $5 million. An additional 1,673 shares of Series D Stock and warrants to purchase 111,534 shares of common stock for gross proceeds of $1.7 million may be purchased by certain current shareholders through early September 2006. The warrants are priced at $1.84 per share. The Series D Stock carries an 8% dividend and converts to common stock at a price of $1.67 per share. As a condition to such sale, SoftBrands also exchanged 18,000 shares of its Series C Convertible Preferred Stock on a share-for-share basis, with 18,000 shares of Series C-1 Convertible Preferred Stock on substantially the same terms as the Series C Stock with the exception of a dividend rate of 8%. SoftBrands Two Meridian Crossings, Suite 800, Minneapolis, Minnesota 55423 Tel: +1 612 851 1500 Fax +1 612 851 1560 www.softbrands.com Hotel Information Systems, the makers of the epitome ™ hotel property management systems and core central reservations system, serves more than 2,300 hotel properties, primarily in the Americas and Asia. About SoftBrands SoftBrands, Inc. is a leader in providing software solutions for businesses in the manufacturing and hospitality industries worldwide. The company has established a global infrastructure for distribution, development and support of enterprise software, and has approximately 5,000 customers in more than 60 countries actively using its manufacturing and hospitality products. SoftBrands, which has nearly 900 employees, is headquartered in Minneapolis, Minn., with branch offices in Europe, India, Asia, Australia and Africa. Additional information can be found at www.softbrands.com. Forward-Looking Statements This document contains forward-looking statements with respect to the above transaction and the combination of the two companies, and these statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth herein. These include, without limitation: the potential inability to retain key personnel; ongoing relations between the two companies and their suppliers, customers and other parties; risks associated with acquisitions generally; and other risks and uncertainties as may be detailed from time to time in public announcements and SEC filings. This document contains forward-looking statements within the meaning of the federal securities laws. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by the cautionary statements contained herein. SoftBrands does not update forward-looking statements and expressly disclaims any obligation to do so. -###-
[ "EX", "-", "99", ".", "1", "13", "a06", "-", "18118", "_", "1ex99d1", ".", "htm", "EX", "-", "99", "Exhibit", "99", ".", "1", "FOR", "IMMEDIATE", "RELEASE", "Contact", "Information", "David", "Gandrud", "Director", "of", "Marketing", ",", "Hospitality", "[email protected]", "612", "851", "1518", "Susan", "Eich", "Investor", "Relations", "[email protected]", "612", "851", "6205", "SOFTBRANDS", "COMPLETES", "ACQUISITION", "OF", "HOTEL", "INFORMATION", "SYSTEMS", "MINNEAPOLIS", "-", "Aug.", "15", ",", "2006", "-", "SoftBrands", ",", "Inc", ".", "(", "AMEX", ":", "SBN", ")", ",", "a", "global", "supplier", "of", "enterprise", "application", "software", ",", "has", "completed", "its", "acquisition", "of", "MAI", "Systems", "Corporation", "and", "its", "subsidiary", "Hotel", "Information", "Systems", "(", "HIS", ")", ".", "SoftBrands", "has", "completed", "its", "financing", "and", "has", "executed", "a", "credit", "agreement", "providing", "$", "21", "million", "to", "finance", "the", "acquisition", "under", "a", "term", "loan", "maturing", "in", "seven", "years", ".", "The", "principal", "amount", "of", "the", "term", "loan", "is", "repayable", "in", "78", "equal", "monthly", "installments", ",", "commencing", "March", "2007", ".", "The", "Credit", "Agreement", "also", "provides", "for", "a", "revolving", "line", "of", "credit", "under", "which", "SoftBrands", "may", "borrow", "up", "to", "$", "9 million", ",", "subject", "to", "certain", "conditions", ".", "Borrowings", "bear", "interest", ",", "payable", "monthly", ",", "ranging", "from", "1", ".", "0", "%", "to", "1", ".", "75", "%", "over", "the", "lenders", "'", "prime", "rate", ",", "or", "from", "2", ".", "0", "%", "to", "2", ".", "75", "%", "over", "the", "London", "Inter", "Bank", "Offered", "Rate", ",", "depending", "on", "certain", "levels", "of", "earnings", "of", "SoftBrands", "for", "the", "twelve", "months", "preceding", "the", "monthly", "calculation", "date", ".", "SoftBrands", "also", "closed", "on", "the", "sale", "of", "5,000", "shares", "of", "its", "Series", "D", "Convertible", "Preferred", "Stock", "and", "warrants", "to", "purchase", "333,333", "shares", "of", "common", "stock", "for", "gross", "proceeds", "of", "$", "5 million", ".", "An", "additional", "1,673", "shares", "of", "Series", "D", "Stock", "and", "warrants", "to", "purchase", "111,534", "shares", "of", "common", "stock", "for", "gross", "proceeds", "of", "$", "1.7 million", "may", "be", "purchased", "by", "certain", "current", "shareholders", "through", "early", "September", "2006", ".", "The", "warrants", "are", "priced", "at", "$", "1.84", "per", "share", ".", "The", "Series", "D", "Stock", "carries", "an", "8", "%", "dividend", "and", "converts", "to", "common", "stock", "at", "a", "price", "of", "$", "1.67", "per", "share", ".", "As", "a", "condition", "to", "such", "sale", ",", "SoftBrands", "also", "exchanged", "18,000", "shares", "of", "its", "Series", "C", "Convertible", "Preferred", "Stock", "on", "a", "share", "-", "for", "-", "share", "basis", ",", "with", "18,000", "shares", "of", "Series", "C", "-", "1", "Convertible", "Preferred", "Stock", "on", "substantially", "the", "same", "terms", "as", "the", "Series", "C", "Stock", "with", "the", "exception", "of", "a", "dividend", "rate", "of", "8", "%", ".", "SoftBrands", "Two", "Meridian", "Crossings", ",", "Suite", "800", ",", "Minneapolis", ",", "Minnesota", "55423", "Tel", ":", "+", "1", "612", "851", "1500", "Fax", "+", "1", "612", "851", "1560", "www.softbrands.com", "Hotel", "Information", "Systems", ",", "the", "makers", "of", "the", "epitome", "™", "hotel", "property", "management", "systems", "and", "core", "central", "reservations", "system", ",", "serves", "more", "than", "2,300", "hotel", "properties", ",", "primarily", "in", "the", "Americas", "and", "Asia", ".", "About", "SoftBrands", "SoftBrands", ",", "Inc", ".", "is", "a", "leader", "in", "providing", "software", "solutions", "for", "businesses", "in", "the", "manufacturing", "and", "hospitality", "industries", "worldwide", ".", "The", "company", "has", "established", "a", "global", "infrastructure", "for", "distribution", ",", "development", "and", "support", "of", "enterprise", "software", ",", "and", "has", "approximately", "5,000", "customers", "in", "more", "than", "60", "countries", "actively", "using", "its", "manufacturing", "and", "hospitality", "products", ".", "SoftBrands", ",", "which", "has", "nearly", "900", "employees", ",", "is", "headquartered", "in", "Minneapolis", ",", "Minn", ".", ",", "with", "branch", "offices", "in", "Europe", ",", "India", ",", "Asia", ",", "Australia", "and", "Africa", ".", "Additional", "information", "can", "be", "found", "at", "www.softbrands.com", ".", "Forward", "-", "Looking", "Statements", "This", "document", "contains", "forward", "-", "looking", "statements", "with", "respect", "to", "the", "above", "transaction", "and", "the", "combination", "of", "the", "two", "companies", ",", "and", "these", "statements", "are", "subject", "to", "certain", "risks", "and", "uncertainties", "that", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "set", "forth", "herein", ".", "These", "include", ",", "without", "limitation", ":", "the", "potential", "inability", "to", "retain", "key", "personnel", ";", "ongoing", "relations", "between", "the", "two", "companies", "and", "their", "suppliers", ",", "customers", "and", "other", "parties", ";", "risks", "associated", "with", "acquisitions", "generally", ";", "and", "other", "risks", "and", "uncertainties", "as", "may", "be", "detailed", "from", "time", "to", "time", "in", "public", "announcements", "and", "SEC", "filings", ".", "This", "document", "contains", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "the", "federal", "securities", "laws", ".", "Readers", "are", "cautioned", "not", "to", "place", "undue", "reliance", "on", "these", "forward", "-", "looking", "statements", "and", "any", "such", "forward", "-", "looking", "statements", "are", "qualified", "in", "their", "entirety", "by", "the", "cautionary", "statements", "contained", "herein", ".", "SoftBrands", "does", "not", "update", "forward", "-", "looking", "statements", "and", "expressly", "disclaims", "any", "obligation", "to", "do", "so", ".", "-", "#", "#", "#", "-" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
916459-000095013708012843-c47131exv99w1
EX-99.1 8 c47131exv99w1.htm EXHIBIT 99.1 exv99w1 Exhibit 99.1 PRESS RELEASE FOR IMMEDIATE RELEASE October 20, 2008 Contact: Christian E. Rothe Director, Strategic Planning and Development (217) 228-8224 GARDNER DENVER, INC. COMPLETES ACQUISITION OF COMPAIR QUINCY, IL (October 20, 2008) - Gardner Denver, Inc. (NYSE:GDI) reported today that it has completed its previously announced acquisition of CompAir Holdings Limited ("CompAir"), a leading global manufacturer of compressed air and gas solutions. Total cash consideration paid to the selling shareholders was £190.2 million. Including the repayment of certain outstanding debt and the assumption of CompAir's other net debt, which totaled approximately £10.4 million on September 30, 2008, the total transaction value was approximately £200.6 million. To finance the acquisition, Gardner Denver used excess available cash and new syndicated credit facilities. Gardner Denver will release its third quarter 2008 financial results on Wednesday, October 22, 2008 after the U.S. financial markets have closed. The Company expects to include guidance regarding the financial impact of the CompAir acquisition in the earnings release. In addition, on Thursday, October 23, 2008 at 9:30 a.m. Eastern time, the Company will broadcast a conference call through a live webcast to discuss third quarter earnings and the CompAir acquisition. This free webcast will be available in listen-only mode and can be accessed, for up to ninety days following the call, through the Investor Relations page on the Gardner Denver website at www.GardnerDenver.com or through Thomson StreetEvents at www.earnings.com. Cautionary Statement Regarding Forward-Looking Statements All of the statements in this release, other than historical facts, are forward-looking statements. As a general matter, forward-looking statements are those focused upon anticipated events or trends and expectations and beliefs relating to matters that are not historical in nature. The words "anticipate", "preliminary", "expect", "believe", "intend", "plan to", "will", "foresee," "project", "forecast" and similar expressions identify forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for these forward-looking statements. In order to comply with the terms of the safe harbor, the Company notes that forward-looking statements are subject to known and unknown risks, uncertainties and other factors relating to the Company's operations and business environment, all of which are difficult to predict and many of which are beyond the control of the Company. These known and unknown risks, uncertainties and other factors could cause actual results to differ materially from those matters expressed in, anticipated by or implied by such forward-looking statements. 1 These risks, uncertainties, and factors specific to the CompAir acquisition include, but are not limited to: (1) the risk that the integration of the CompAir acquisition could disrupt the plans and operations of the Company, CompAir or both and the potential difficulties of employee retention as a result of the acquisition, and (2) the risk that the Company may not realize the expected financial and other benefits from the acquisition. The foregoing factors should not be construed as exhaustive and should be read together with important information regarding risks and factors that may affect the Company's future performance set forth in the Company's Annual Report on Form 10-K for the fiscal year ending December 31, 2007, and other public reports filed with the Securities and Exchange Commission. These statements reflect the current views and assumptions of management with respect to future events. The Company does not undertake, and hereby disclaims, any duty to update these forward-looking statements, even though its situation and circumstances may change in the future. The inclusion of any statement in this release does not constitute an admission by Gardner Denver or any other person that the events or circumstances described in such statement are material. Gardner Denver, Inc., with 2007 revenues of $1.9 billion, is a leading worldwide manufacturer of reciprocating, rotary and vane compressors, liquid ring pumps and blowers for various industrial and transportation applications, pumps used in the petroleum and industrial market segments, and other fluid transfer equipment serving chemical, petroleum, and food industries. Gardner Denver's news releases are available by visiting the Investor Relations page on the Company's website ( www.GardnerDenver.com ). 2
[ "EX", "-", "99", ".", "1", "8", "c47131exv99w1", ".", "htm", "EXHIBIT", "99", ".", "1", "exv99w1", "Exhibit", "99", ".", "1", "PRESS", "RELEASE", "FOR", "IMMEDIATE", "RELEASE", "October", "20", ",", "2008", "Contact", ":", "Christian", "E", ".", "Rothe", "Director", ",", "Strategic", "Planning", "and", "Development", "(", "217", ")", "228", "-", "8224", "GARDNER", "DENVER", ",", "INC", ".", "COMPLETES", "ACQUISITION", "OF", "COMPAIR", "QUINCY", ",", "IL", "(", "October", "20", ",", "2008", ")", "-", "Gardner", "Denver", ",", "Inc", ".", "(", "NYSE", ":", "GDI", ")", "reported", "today", "that", "it", "has", "completed", "its", "previously", "announced", "acquisition", "of", "CompAir", "Holdings", "Limited", "(", "\"", "CompAir", "\"", ")", ",", "a", "leading", "global", "manufacturer", "of", "compressed", "air", "and", "gas", "solutions", ".", "Total", "cash", "consideration", "paid", "to", "the", "selling", "shareholders", "was", "£", "190.2 million", ".", "Including", "the", "repayment", "of", "certain", "outstanding", "debt", "and", "the", "assumption", "of", "CompAir", "'s", "other", "net", "debt", ",", "which", "totaled", "approximately", "£", "10.4 million", "on", "September", "30", ",", "2008", ",", "the", "total", "transaction", "value", "was", "approximately", "£", "200.6 million", ".", "To", "finance", "the", "acquisition", ",", "Gardner", "Denver", "used", "excess", "available", "cash", "and", "new", "syndicated", "credit", "facilities", ".", "Gardner", "Denver", "will", "release", "its", "third", "quarter", "2008", "financial", "results", "on", "Wednesday", ",", "October", "22", ",", "2008", "after", "the", "U", ".", "S", ".", "financial", "markets", "have", "closed", ".", "The", "Company", "expects", "to", "include", "guidance", "regarding", "the", "financial", "impact", "of", "the", "CompAir", "acquisition", "in", "the", "earnings", "release", ".", "In", "addition", ",", "on", "Thursday", ",", "October", "23", ",", "2008", "at", "9", ":", "30", "a.m.", "Eastern time", ",", "the", "Company", "will", "broadcast", "a", "conference", "call", "through", "a", "live", "webcast", "to", "discuss", "third", "quarter", "earnings", "and", "the", "CompAir", "acquisition", ".", "This", "free", "webcast", "will", "be", "available", "in", "listen", "-", "only", "mode", "and", "can", "be", "accessed", ",", "for", "up", "to", "ninety", "days", "following", "the", "call", ",", "through", "the", "Investor", "Relations", "page", "on", "the", "Gardner", "Denver", "website", "at", "www.GardnerDenver.com", "or", "through", "Thomson", "StreetEvents", "at", "www.earnings.com", ".", "Cautionary", "Statement", "Regarding", "Forward", "-", "Looking", "Statements", "All", "of", "the", "statements", "in", "this", "release", ",", "other", "than", "historical", "facts", ",", "are", "forward", "-", "looking", "statements", ".", "As", "a", "general", "matter", ",", "forward", "-", "looking", "statements", "are", "those", "focused", "upon", "anticipated", "events", "or", "trends", "and", "expectations", "and", "beliefs", "relating", "to", "matters", "that", "are", "not", "historical", "in", "nature", ".", "The", "words", "\"", "anticipate", "\"", ",", "\"", "preliminary", "\"", ",", "\"", "expect", "\"", ",", "\"", "believe", "\"", ",", "\"", "intend", "\"", ",", "\"", "plan", "to", "\"", ",", "\"", "will", "\"", ",", "\"", "foresee", ",", "\"", "\"", "project", "\"", ",", "\"", "forecast", "\"", "and", "similar", "expressions", "identify", "forward", "-", "looking", "statements", ".", "The", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", "provides", "a", "\"", "safe", "harbor", "\"", "for", "these", "forward", "-", "looking", "statements", ".", "In", "order", "to", "comply", "with", "the", "terms", "of", "the", "safe", "harbor", ",", "the", "Company", "notes", "that", "forward", "-", "looking", "statements", "are", "subject", "to", "known", "and", "unknown", "risks", ",", "uncertainties", "and", "other", "factors", "relating", "to", "the", "Company", "'s", "operations", "and", "business", "environment", ",", "all", "of", "which", "are", "difficult", "to", "predict", "and", "many", "of", "which", "are", "beyond", "the", "control", "of", "the", "Company", ".", "These", "known", "and", "unknown", "risks", ",", "uncertainties", "and", "other", "factors", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "matters", "expressed", "in", ",", "anticipated", "by", "or", "implied", "by", "such", "forward", "-", "looking", "statements", ".", "1", "These", "risks", ",", "uncertainties", ",", "and", "factors", "specific", "to", "the", "CompAir", "acquisition", "include", ",", "but", "are", "not", "limited", "to", ":", "(", "1", ")", "the", "risk", "that", "the", "integration", "of", "the", "CompAir", "acquisition", "could", "disrupt", "the", "plans", "and", "operations", "of", "the", "Company", ",", "CompAir", "or", "both", "and", "the", "potential", "difficulties", "of", "employee", "retention", "as", "a", "result", "of", "the", "acquisition", ",", "and", "(", "2", ")", "the", "risk", "that", "the", "Company", "may", "not", "realize", "the", "expected", "financial", "and", "other", "benefits", "from", "the", "acquisition", ".", "The", "foregoing", "factors", "should", "not", "be", "construed", "as", "exhaustive", "and", "should", "be", "read", "together", "with", "important", "information", "regarding", "risks", "and", "factors", "that", "may", "affect", "the", "Company", "'s", "future", "performance", "set", "forth", "in", "the", "Company", "'s", "Annual", "Report", "on", "Form", "10", "-", "K", "for", "the", "fiscal", "year", "ending", "December", "31", ",", "2007", ",", "and", "other", "public", "reports", "filed", "with", "the", "Securities", "and", "Exchange", "Commission", ".", "These", "statements", "reflect", "the", "current", "views", "and", "assumptions", "of", "management", "with", "respect", "to", "future", "events", ".", "The", "Company", "does", "not", "undertake", ",", "and", "hereby", "disclaims", ",", "any", "duty", "to", "update", "these", "forward", "-", "looking", "statements", ",", "even", "though", "its", "situation", "and", "circumstances", "may", "change", "in", "the", "future", ".", "The", "inclusion", "of", "any", "statement", "in", "this", "release", "does", "not", "constitute", "an", "admission", "by", "Gardner", "Denver", "or", "any", "other", "person", "that", "the", "events", "or", "circumstances", "described", "in", "such", "statement", "are", "material", ".", "Gardner", "Denver", ",", "Inc", ".", ",", "with", "2007", "revenues", "of", "$", "1.9 billion", ",", "is", "a", "leading", "worldwide", "manufacturer", "of", "reciprocating", ",", "rotary", "and", "vane", "compressors", ",", "liquid", "ring", "pumps", "and", "blowers", "for", "various", "industrial", "and", "transportation", "applications", ",", "pumps", "used", "in", "the", "petroleum", "and", "industrial", "market", "segments", ",", "and", "other", "fluid", "transfer", "equipment", "serving", "chemical", ",", "petroleum", ",", "and", "food", "industries", ".", "Gardner", "Denver", "'s", "news", "releases", "are", "available", "by", "visiting", "the", "Investor", "Relations", "page", "on", "the", "Company", "'s", "website", "(", "www.GardnerDenver.com", ")", ".", "2" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Generic_Info.ANNUAL_REVENUES", "I-Generic_Info.ANNUAL_REVENUES", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
778164-000101968715002623-paceth_ex99-1
EX-99.1 7 paceth_ex99-1.htm PRESS RELEASE Exhibit 99.1 Company IR Contact: IR Agency Contact: Media Contact: Pacific Ethanol, Inc. Becky Herrick Paul Koehler 916-403-2755 LHA Pacific Ethanol, Inc. 866-508-4969 415-433-3777 916-403-2790 [email protected] [email protected] Pacific Ethanol Completes Aventine Merger - Merger Connects Destination and Origin Market Strategies, Providing Synergies in Ethanol Production and Marketing - - Establishes Annual Combined Production Capacity of 515 Million Gallons and Combined Annual Ethanol Marketing Volume of Over 800 Million Gallons - Sacramento, CA, July 1, 2015 - Pacific Ethanol, Inc. (NASDAQ: PEIX) , the leading producer and marketer of low-carbon renewable fuels in the Western United States, announced it completed its merger with Aventine Renewable Energy Holdings, Inc. ("Aventine"). Neil Koehler, the company's president and CEO, stated: "We are pleased to complete this transformative acquisition, establishing Pacific Ethanol as the sixth largest producer of ethanol in the United States. In addition to more than doubling our ethanol production capacity, this synergistic transaction expands our geographic footprint, leverages our existing infrastructure to reach new markets and customers and enhances our overall scale and co-product diversification. We look forward to working with the Aventine employees to achieve a smooth integration and accelerate the growth of our combined company". Per the terms of the definitive merger agreement, Aventine stockholders received 1.25 shares of Pacific Ethanol common stock for each share of Aventine common stock owned at closing. As a result, Pacific Ethanol issued approximately 17.76 million shares in the merger, resulting in 42.5 million total shares outstanding as of July 1, 2015. Aventine had term debt of approximately $145 million as of July 1, 2015. Pacific Ethanol will provide information regarding capital plans and synergies when it releases its second quarter 2015 financial results anticipated in late July 2015. Aventine's ethanol production assets include its 100 million gallon per year wet mill and 60 million gallon per year dry mill located in Pekin, Illinois, and its 110 million gallon per year and 45 million gallon per year dry mills in Aurora, Nebraska. Combined with Pacific Ethanol's current ethanol production capacity of 200 million gallons per year, the combined company will have a total ethanol production capacity of 515 million gallons per year and, together with Pacific Ethanol's marketing business, is expected to sell over 800 million gallons of ethanol annually based on historical volumes. 1 About Pacific Ethanol, Inc. Pacific Ethanol, Inc. (PEIX) is the leading producer and marketer of low-carbon renewable fuels in the Western United States. With the addition of four Midwestern ethanol plants in July 2015, Pacific Ethanol more than doubled the scale of its operations, entered new markets, and expanded its mission to be the industry leader in the production and marketing of low carbon renewable fuels. Pacific Ethanol owns and operates eight ethanol production facilities, four in the Western states of California, Oregon and Idaho, and four in the Midwestern states of Illinois and Nebraska. The plants have a combined production capacity of 515 million gallons per year, produce over one million tons per year of ethanol co-products such as wet and dry distillers grains, wet and dry corn gluten feed, condensed distillers solubles, corn gluten meal, corn germ, corn oil, distillers yeast and CO 2 . Pacific Ethanol markets and distributes ethanol and co-products domestically and internationally. Pacific Ethanol's subsidiary, Kinergy Marketing LLC, markets all ethanol for the Pacific Ethanol plants as well as for third parties, with over 800 million gallons of ethanol marketed annually based on historical volumes. Pacific Ethanol's subsidiary, Pacific Ag. Products LLC, markets wet and dry distillers grains. For more information please visit www.pacificethanol.com . Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 Statements contained in this communication that refer to Pacific Ethanol's estimated or anticipated future results or other non-historical expressions of fact are forward-looking statements that reflect Pacific Ethanol's current perspective of existing trends and information as of the date of this communication. Forward looking statements generally will be accompanied by words such as "anticipate," "believe", "plan", "could", "should", "estimate", "expect," "forecast", "outlook", "guidance", "intend", "may", "might," "will", "possible", "potential", "predict", "project", or other similar words, phrases or expressions. Such forward-looking statements include, but are not limited to statements about the benefits of the Aventine merger, including future financial and operating results, synergies that may result from the merger, Pacific Ethanol's ability to leverage its existing infrastructure to reach new markets and customers; and Pacific Ethanol's plans, objectives, expectations and intentions. It is important to note that Pacific Ethanol's goals and expectations are not predictions of actual performance. Actual results may differ materially from Pacific Ethanol's current expectations depending upon a number of factors affecting Pacific Ethanol's business, Aventine's business and risks associated with merger transactions. These factors include, among others, adverse economic and market conditions, including for ethanol and its co-products; raw material costs, including ethanol production input costs; changes in governmental regulations and policies; and insufficient capital resources. These factors also include, among others, the inherent uncertainty associated with financial projections; integration of Aventine and the ability to recognize the anticipated synergies and benefits of the Aventine merger; the anticipated size of the markets and continued demand for Pacific Ethanol's and Aventine's products; the impact of competitive products and pricing; the risks and uncertainties normally incident to the ethanol production and marketing industries; the difficulty of predicting the timing or outcome of pending or future litigation or government investigations; changes in generally accepted accounting principles; successful compliance with governmental regulations applicable to Pacific Ethanol's and Aventine's facilities, products and/or businesses; changes in the laws and regulations; changes in tax laws or interpretations that could increase Pacific Ethanol's consolidated tax liabilities; the loss of key senior management or staff; and other events, factors and risks previously and from time to time disclosed in Pacific Ethanol's filings with the Securities and Exchange Commission including, specifically, those factors set forth in the "Risk Factors" section contained in Pacific Ethanol's Form 10-Q filed with the Securities and Exchange Commission on May 11, 2015. #### 2
[ "EX", "-", "99", ".", "1", "7", "paceth", "_", "ex99", "-", "1", ".", "htm", "PRESS", "RELEASE", "Exhibit", "99", ".", "1", "Company", "IR", "Contact", ":", "IR", "Agency", "Contact", ":", "Media", "Contact", ":", "Pacific", "Ethanol", ",", "Inc", ".", "Becky", "Herrick", "Paul", "Koehler", "916", "-", "403", "-", "2755", "LHA", "Pacific", "Ethanol", ",", "Inc", ".", "866", "-", "508", "-", "4969", "415", "-", "433", "-", "3777", "916", "-", "403", "-", "2790", "[email protected]", "[email protected]", "Pacific", "Ethanol", "Completes", "Aventine", "Merger", "-", "Merger", "Connects", "Destination", "and", "Origin", "Market", "Strategies", ",", "Providing", "Synergies", "in", "Ethanol", "Production", "and", "Marketing", "-", "-", "Establishes", "Annual", "Combined", "Production", "Capacity", "of", "515 Million", "Gallons", "and", "Combined", "Annual", "Ethanol", "Marketing", "Volume", "of", "Over", "800 Million", "Gallons", "-", "Sacramento", ",", "CA", ",", "July", "1", ",", "2015", "-", "Pacific", "Ethanol", ",", "Inc", ".", "(", "NASDAQ", ":", "PEIX", ")", ",", "the", "leading", "producer", "and", "marketer", "of", "low", "-", "carbon", "renewable", "fuels", "in", "the", "Western", "United", "States", ",", "announced", "it", "completed", "its", "merger", "with", "Aventine", "Renewable", "Energy", "Holdings", ",", "Inc", ".", "(", "\"", "Aventine", "\"", ")", ".", "Neil", "Koehler", ",", "the", "company", "'s", "president", "and", "CEO", ",", "stated", ":", "\"", "We", "are", "pleased", "to", "complete", "this", "transformative", "acquisition", ",", "establishing", "Pacific", "Ethanol", "as", "the", "sixth", "largest", "producer", "of", "ethanol", "in", "the", "United", "States", ".", "In", "addition", "to", "more", "than", "doubling", "our", "ethanol", "production", "capacity", ",", "this", "synergistic", "transaction", "expands", "our", "geographic", "footprint", ",", "leverages", "our", "existing", "infrastructure", "to", "reach", "new", "markets", "and", "customers", "and", "enhances", "our", "overall", "scale", "and", "co", "-", "product", "diversification", ".", "We", "look", "forward", "to", "working", "with", "the", "Aventine", "employees", "to", "achieve", "a", "smooth", "integration", "and", "accelerate", "the", "growth", "of", "our", "combined", "company", "\"", ".", "Per", "the", "terms", "of", "the", "definitive", "merger", "agreement", ",", "Aventine", "stockholders", "received", "1", ".", "25", "shares", "of", "Pacific", "Ethanol", "common", "stock", "for", "each", "share", "of", "Aventine", "common", "stock", "owned", "at", "closing", ".", "As", "a", "result", ",", "Pacific", "Ethanol", "issued", "approximately", "17", ".", "76", "million", "shares", "in", "the", "merger", ",", "resulting", "in", "42", ".", "5", "million", "total", "shares", "outstanding", "as", "of", "July", "1", ",", "2015", ".", "Aventine", "had", "term", "debt", "of", "approximately", "$", "145 million", "as", "of", "July", "1", ",", "2015", ".", "Pacific", "Ethanol", "will", "provide", "information", "regarding", "capital", "plans", "and", "synergies", "when", "it", "releases", "its", "second", "quarter", "2015", "financial", "results", "anticipated", "in", "late", "July", "2015", ".", "Aventine", "'s", "ethanol", "production", "assets", "include", "its", "100 million", "gallon", "per", "year", "wet", "mill", "and", "60 million", "gallon", "per", "year", "dry", "mill", "located", "in", "Pekin", ",", "Illinois", ",", "and", "its", "110 million", "gallon", "per", "year", "and", "45 million", "gallon", "per", "year", "dry", "mills", "in", "Aurora", ",", "Nebraska", ".", "Combined", "with", "Pacific", "Ethanol", "'s", "current", "ethanol", "production", "capacity", "of", "200 million", "gallons", "per", "year", ",", "the", "combined", "company", "will", "have", "a", "total", "ethanol", "production", "capacity", "of", "515 million", "gallons", "per", "year", "and", ",", "together", "with", "Pacific", "Ethanol", "'s", "marketing", "business", ",", "is", "expected", "to", "sell", "over", "800", "million", "gallons", "of", "ethanol", "annually", "based", "on", "historical", "volumes", ".", "1", "About", "Pacific", "Ethanol", ",", "Inc", ".", "Pacific", "Ethanol", ",", "Inc", ".", "(", "PEIX", ")", "is", "the", "leading", "producer", "and", "marketer", "of", "low", "-", "carbon", "renewable", "fuels", "in", "the", "Western", "United", "States", ".", "With", "the", "addition", "of", "four", "Midwestern", "ethanol", "plants", "in", "July", "2015", ",", "Pacific", "Ethanol", "more", "than", "doubled", "the", "scale", "of", "its", "operations", ",", "entered", "new", "markets", ",", "and", "expanded", "its", "mission", "to", "be", "the", "industry", "leader", "in", "the", "production", "and", "marketing", "of", "low", "carbon", "renewable", "fuels", ".", "Pacific", "Ethanol", "owns", "and", "operates", "eight", "ethanol", "production", "facilities", ",", "four", "in", "the", "Western", "states", "of", "California", ",", "Oregon", "and", "Idaho", ",", "and", "four", "in", "the", "Midwestern", "states", "of", "Illinois", "and", "Nebraska", ".", "The", "plants", "have", "a", "combined", "production", "capacity", "of", "515 million", "gallons", "per", "year", ",", "produce", "over", "one million", "tons", "per", "year", "of", "ethanol", "co", "-", "products", "such", "as", "wet", "and", "dry", "distillers", "grains", ",", "wet", "and", "dry", "corn", "gluten", "feed", ",", "condensed", "distillers", "solubles", ",", "corn", "gluten", "meal", ",", "corn", "germ", ",", "corn", "oil", ",", "distillers", "yeast", "and", "CO", "2", ".", "Pacific", "Ethanol", "markets", "and", "distributes", "ethanol", "and", "co", "-", "products", "domestically", "and", "internationally", ".", "Pacific", "Ethanol", "'s", "subsidiary", ",", "Kinergy", "Marketing", "LLC", ",", "markets", "all", "ethanol", "for", "the", "Pacific", "Ethanol", "plants", "as", "well", "as", "for", "third", "parties", ",", "with", "over", "800 million", "gallons", "of", "ethanol", "marketed", "annually", "based", "on", "historical", "volumes", ".", "Pacific", "Ethanol", "'s", "subsidiary", ",", "Pacific", "Ag", ".", "Products", "LLC", ",", "markets", "wet", "and", "dry", "distillers", "grains", ".", "For", "more", "information", "please", "visit", "www.pacificethanol.com", ".", "Safe", "Harbor", "Statement", "under", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", "Statements", "contained", "in", "this", "communication", "that", "refer", "to", "Pacific", "Ethanol", "'", "s", "estimated", "or", "anticipated", "future", "results", "or", "other", "non", "-", "historical", "expressions", "of", "fact", "are", "forward", "-", "looking", "statements", "that", "reflect", "Pacific", "Ethanol", "'s", "current", "perspective", "of", "existing", "trends", "and", "information", "as", "of", "the", "date", "of", "this", "communication", ".", "Forward", "looking", "statements", "generally", "will", "be", "accompanied", "by", "words", "such", "as", "\"", "anticipate", ",", "\"", "\"", "believe", "\"", ",", "\"", "plan", "\"", ",", "\"", "could", "\"", ",", "\"", "should", "\"", ",", "\"", "estimate", "\"", ",", "\"", "expect", ",", "\"", "\"", "forecast", "\"", ",", "\"", "outlook", "\"", ",", "\"", "guidance", "\"", ",", "\"", "intend", "\"", ",", "\"", "may", "\"", ",", "\"", "might", ",", "\"", "\"", "will", "\"", ",", "\"", "possible", "\"", ",", "\"", "potential", "\"", ",", "\"", "predict", "\"", ",", "\"", "project", "\"", ",", "or", "other", "similar", "words", ",", "phrases", "or", "expressions", ".", "Such", "forward", "-", "looking", "statements", "include", ",", "but", "are", "not", "limited", "to", "statements", "about", "the", "benefits", "of", "the", "Aventine", "merger", ",", "including", "future", "financial", "and", "operating", "results", ",", "synergies", "that", "may", "result", "from", "the", "merger", ",", "Pacific", "Ethanol", "'s", "ability", "to", "leverage", "its", "existing", "infrastructure", "to", "reach", "new", "markets", "and", "customers", ";", "and", "Pacific", "Ethanol", "'s", "plans", ",", "objectives", ",", "expectations", "and", "intentions", ".", "It", "is", "important", "to", "note", "that", "Pacific", "Ethanol", "'s", "goals", "and", "expectations", "are", "not", "predictions", "of", "actual", "performance", ".", "Actual", "results", "may", "differ", "materially", "from", "Pacific", "Ethanol", "'s", "current", "expectations", "depending", "upon", "a", "number", "of", "factors", "affecting", "Pacific", "Ethanol", "'s", "business", ",", "Aventine", "'s", "business", "and", "risks", "associated", "with", "merger", "transactions", ".", "These", "factors", "include", ",", "among", "others", ",", "adverse", "economic", "and", "market", "conditions", ",", "including", "for", "ethanol", "and", "its", "co", "-", "products", ";", "raw", "material", "costs", ",", "including", "ethanol", "production", "input", "costs", ";", "changes", "in", "governmental", "regulations", "and", "policies", ";", "and", "insufficient", "capital", "resources", ".", "These", "factors", "also", "include", ",", "among", "others", ",", "the", "inherent", "uncertainty", "associated", "with", "financial", "projections", ";", "integration", "of", "Aventine", "and", "the", "ability", "to", "recognize", "the", "anticipated", "synergies", "and", "benefits", "of", "the", "Aventine", "merger", ";", "the", "anticipated", "size", "of", "the", "markets", "and", "continued", "demand", "for", "Pacific", "Ethanol", "'s", "and", "Aventine", "'s", "products", ";", "the", "impact", "of", "competitive", "products", "and", "pricing", ";", "the", "risks", "and", "uncertainties", "normally", "incident", "to", "the", "ethanol", "production", "and", "marketing", "industries", ";", "the", "difficulty", "of", "predicting", "the", "timing", "or", "outcome", "of", "pending", "or", "future", "litigation", "or", "government", "investigations", ";", "changes", "in", "generally", "accepted", "accounting", "principles", ";", "successful", "compliance", "with", "governmental", "regulations", "applicable", "to", "Pacific", "Ethanol", "'s", "and", "Aventine", "'s", "facilities", ",", "products", "and", "/", "or", "businesses", ";", "changes", "in", "the", "laws", "and", "regulations", ";", "changes", "in", "tax", "laws", "or", "interpretations", "that", "could", "increase", "Pacific", "Ethanol", "'s", "consolidated", "tax", "liabilities", ";", "the", "loss", "of", "key", "senior", "management", "or", "staff", ";", "and", "other", "events", ",", "factors", "and", "risks", "previously", "and", "from", "time", "to", "time", "disclosed", "in", "Pacific", "Ethanol", "'s", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", "including", ",", "specifically", ",", "those", "factors", "set", "forth", "in", "the", "\"", "Risk", "Factors", "\"", "section", "contained", "in", "Pacific", "Ethanol", "'s", "Form", "10", "-", "Q", "filed", "with", "the", "Securities", "and", "Exchange", "Commission", "on", "May", "11", ",", "2015", ".", "#", "#", "#", "#", "2" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
893538-000089353816000225-exhibit99212116
EX-99.2 3 exhibit99212116.htm EXHIBIT 99.2 Exhibit Exhibit 99.2 FOR IMMEDIATE RELEASE SM ENERGY ANNOUNCES CLOSING OF WILLISTON BASIN DIVESTITURE DENVER, CO December 1, 2016 - SM Energy Company (NYSE: SM) announced today that the Company closed the previously announced divestiture of its Williston Basin assets located outside of Divide County, North Dakota to Oasis Petroleum North America LLC for $765.8 million of net cash proceeds, subject to customary post-closing purchase price adjustments. This divestiture had an effective date of October 1, 2016, and was completed on December 1, 2016. Third quarter 2016 production associated with these assets was approximately 14,350 Boe/d (78% oil). The Company plans to apply the proceeds from this divestiture towards its acquisition of assets from QStar LLC and a related entity, a transaction that the Company expects to close later in December, and for general corporate purposes. FORWARD LOOKING STATEMENTS This release contains forward-looking statements within the meaning of securities laws. The words "anticipate", "assume", "believe", "budget", "estimate", "expect", "forecast", "guidance", "intend", "plan", "project", "will" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, which may cause SM Energy's actual results to differ materially from results expressed or implied by the forward-looking statements. Forward-looking statements in this release include, among other things, expectations concerning the Company's pending acquisition of Permian Basin assets and the Company's liquidity position. General risk factors include the availability of and access to capital markets; the availability, proximity and capacity of gathering, processing and transportation facilities; the volatility and level of oil, natural gas, and natural gas liquids prices, including any impact on the Company's asset carrying values or reserves arising from price declines; uncertainties inherent in projecting future rates of production or other results from drilling and completion activities; the imprecise nature of estimating oil and gas reserves; uncertainties inherent in projecting future drilling and completion activities, costs or results, including from pilot tests; the uncertainty of negotiations to result in an agreement or a completed transaction; the uncertain nature of acquisition, divestiture, joint venture, farm down or similar efforts and the ability to complete any such transactions; the uncertain nature of expected benefits from the actual or expected acquisition, divestiture, joint venture, farm down or similar efforts; the availability of additional economically attractive exploration, development, and acquisition opportunities for future growth and any necessary financings; unexpected drilling conditions and results; unsuccessful exploration and development drilling results; the availability of drilling, completion, and operating equipment and services; the risks associated with the Company's commodity price risk management strategy; uncertainty regarding the ultimate impact of potentially dilutive securities; and other such matters discussed in the "Risk Factors" section of SM Energy's 2015 Annual Report on Form 10-K, as such risk factors may be updated from time to time in the Company's other periodic reports filed with the Securities and Exchange Commission. The forward-looking statements contained herein speak as of the date of this announcement. Although SM Energy may from time to time voluntarily update its prior forward-looking statements, it disclaims any commitment to do so except as required by securities laws. ABOUT THE COMPANY SM Energy Company is an independent energy company engaged in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in onshore North America. SM Energy routinely posts important information about the Company on its website. INVESTOR CONTACT: Jennifer Martin Samuels, [email protected], 303-864-2507
[ "EX", "-", "99", ".", "2", "3", "exhibit99212116", ".", "htm", "EXHIBIT", "99", ".", "2", "Exhibit", "Exhibit", "99", ".", "2", "FOR", "IMMEDIATE", "RELEASE", "SM", "ENERGY", "ANNOUNCES", "CLOSING", "OF", "WILLISTON", "BASIN", "DIVESTITURE", "DENVER", ",", "CO", "December", "1", ",", "2016", "-", "SM", "Energy", "Company", "(", "NYSE", ":", "SM", ")", "announced", "today", "that", "the", "Company", "closed", "the", "previously", "announced", "divestiture", "of", "its", "Williston", "Basin", "assets", "located", "outside", "of", "Divide", "County", ",", "North", "Dakota", "to", "Oasis", "Petroleum", "North", "America", "LLC", "for", "$", "765.8 million", "of", "net", "cash", "proceeds", ",", "subject", "to", "customary", "post", "-", "closing", "purchase", "price", "adjustments", ".", "This", "divestiture", "had", "an", "effective", "date", "of", "October", "1", ",", "2016", ",", "and", "was", "completed", "on", "December", "1", ",", "2016", ".", "Third", "quarter", "2016", "production", "associated", "with", "these", "assets", "was", "approximately", "14,350", "Boe", "/", "d", "(", "78", "%", "oil", ")", ".", "The", "Company", "plans", "to", "apply", "the", "proceeds", "from", "this", "divestiture", "towards", "its", "acquisition", "of", "assets", "from", "QStar", "LLC", "and", "a", "related", "entity", ",", "a", "transaction", "that", "the", "Company", "expects", "to", "close", "later", "in", "December", ",", "and", "for", "general", "corporate", "purposes", ".", "FORWARD", "LOOKING", "STATEMENTS", "This", "release", "contains", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "securities", "laws", ".", "The", "words", "\"", "anticipate", "\"", ",", "\"", "assume", "\"", ",", "\"", "believe", "\"", ",", "\"", "budget", "\"", ",", "\"", "estimate", "\"", ",", "\"", "expect", "\"", ",", "\"", "forecast", "\"", ",", "\"", "guidance", "\"", ",", "\"", "intend", "\"", ",", "\"", "plan", "\"", ",", "\"", "project", "\"", ",", "\"", "will", "\"", "and", "similar", "expressions", "are", "intended", "to", "identify", "forward", "-", "looking", "statements", ".", "These", "statements", "involve", "known", "and", "unknown", "risks", ",", "which", "may", "cause", "SM", "Energy", "'s", "actual", "results", "to", "differ", "materially", "from", "results", "expressed", "or", "implied", "by", "the", "forward", "-", "looking", "statements", ".", "Forward", "-", "looking", "statements", "in", "this", "release", "include", ",", "among", "other", "things", ",", "expectations", "concerning", "the", "Company", "'s", "pending", "acquisition", "of", "Permian", "Basin", "assets", "and", "the", "Company", "'s", "liquidity", "position", ".", "General", "risk", "factors", "include", "the", "availability", "of", "and", "access", "to", "capital", "markets", ";", "the", "availability", ",", "proximity", "and", "capacity", "of", "gathering", ",", "processing", "and", "transportation", "facilities", ";", "the", "volatility", "and", "level", "of", "oil", ",", "natural", "gas", ",", "and", "natural", "gas", "liquids", "prices", ",", "including", "any", "impact", "on", "the", "Company", "'s", "asset", "carrying", "values", "or", "reserves", "arising", "from", "price", "declines", ";", "uncertainties", "inherent", "in", "projecting", "future", "rates", "of", "production", "or", "other", "results", "from", "drilling", "and", "completion", "activities", ";", "the", "imprecise", "nature", "of", "estimating", "oil", "and", "gas", "reserves", ";", "uncertainties", "inherent", "in", "projecting", "future", "drilling", "and", "completion", "activities", ",", "costs", "or", "results", ",", "including", "from", "pilot", "tests", ";", "the", "uncertainty", "of", "negotiations", "to", "result", "in", "an", "agreement", "or", "a", "completed", "transaction", ";", "the", "uncertain", "nature", "of", "acquisition", ",", "divestiture", ",", "joint", "venture", ",", "farm", "down", "or", "similar", "efforts", "and", "the", "ability", "to", "complete", "any", "such", "transactions", ";", "the", "uncertain", "nature", "of", "expected", "benefits", "from", "the", "actual", "or", "expected", "acquisition", ",", "divestiture", ",", "joint", "venture", ",", "farm", "down", "or", "similar", "efforts", ";", "the", "availability", "of", "additional", "economically", "attractive", "exploration", ",", "development", ",", "and", "acquisition", "opportunities", "for", "future", "growth", "and", "any", "necessary", "financings", ";", "unexpected", "drilling", "conditions", "and", "results", ";", "unsuccessful", "exploration", "and", "development", "drilling", "results", ";", "the", "availability", "of", "drilling", ",", "completion", ",", "and", "operating", "equipment", "and", "services", ";", "the", "risks", "associated", "with", "the", "Company", "'s", "commodity", "price", "risk", "management", "strategy", ";", "uncertainty", "regarding", "the", "ultimate", "impact", "of", "potentially", "dilutive", "securities", ";", "and", "other", "such", "matters", "discussed", "in", "the", "\"", "Risk", "Factors", "\"", "section", "of", "SM", "Energy", "'s", "2015", "Annual", "Report", "on", "Form", "10", "-", "K", ",", "as", "such", "risk", "factors", "may", "be", "updated", "from", "time", "to", "time", "in", "the", "Company", "'s", "other", "periodic", "reports", "filed", "with", "the", "Securities", "and", "Exchange", "Commission", ".", "The", "forward", "-", "looking", "statements", "contained", "herein", "speak", "as", "of", "the", "date", "of", "this", "announcement", ".", "Although", "SM", "Energy", "may", "from", "time", "to", "time", "voluntarily", "update", "its", "prior", "forward", "-", "looking", "statements", ",", "it", "disclaims", "any", "commitment", "to", "do", "so", "except", "as", "required", "by", "securities", "laws", ".", "ABOUT", "THE", "COMPANY", "SM", "Energy", "Company", "is", "an", "independent", "energy", "company", "engaged", "in", "the", "acquisition", ",", "exploration", ",", "development", ",", "and", "production", "of", "crude", "oil", ",", "natural", "gas", ",", "and", "natural", "gas", "liquids", "in", "onshore", "North", "America", ".", "SM", "Energy", "routinely", "posts", "important", "information", "about", "the", "Company", "on", "its", "website", ".", "INVESTOR", "CONTACT", ":", "Jennifer", "Martin", "Samuels", ",", "[email protected]", ",", "303", "-", "864", "-", "2507" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
351789-000089710114000189-electro140566_ex99-1
EX-99.1 2 electro140566_ex99-1.htm PRESS RELEASE DATED FEBRUARY 18, 2014 Exhibit 99.1 Electro-Sensors, Inc. Acquires Wireless Hazard Monitoring Product Line From Harvest Engineering Inc. Minnetonka, MN, February 18, 2014 - Electro-Sensors, Inc. (Nasdaq: ELSE) announced today it has acquired the advanced wireless hazard monitoring product line from Harvest Engineering Inc. ("Harvest"). Electro-Sensors will market and sell the new hazard monitoring products under its new HazardPRO TM product line and manufacture and service them at its Minnetonka, Minnesota facility. "The creation of the HazardPRO TM product line will enable us to deliver best-in-class hazard monitoring systems built upon a field-proven wireless platform," said David Klenk, President of Electro-Sensors. "This acquisition complements our existing hazard monitoring sensors and systems and expands our product line to include the most advanced hazard monitoring systems with a lower installed cost than traditional wire-based solutions. The combination of leading hazard monitoring technology, field-proven reliability, true remote access capabilities, and the lowest overall installed cost make this a market-leading product offering". "We're excited that Electro-Sensors will be deploying this technology to markets where hazard monitoring is of critical importance", said Bruce Meyer, President of Harvest Engineering. "With more than 45 years of experience serving these markets, Electro-Sensors has established distribution channels, technical competency, and customer support capabilities that are essential to effectively distribute this technology worldwide. Additionally, this transaction will enable Harvest to focus on developing its core business of designing new, highly-engineered products for the grain and feed market". The HazardPRO TM wireless hazard monitoring product line contains a variety of configurations ideally suited for a wide range of applications, from single-point monitoring to large, highly-complex, multi-leg installations. In addition, it has been successfully installed and monitoring industrial processing facilities with hazardous environments for more than five years. During this time period, the products have proven to be easy-to-use, extremely reliable, simple-to-operate, and cost-effective. Under the agreement, Harvest received $400,000 at closing, and will receive an additional $400,000 on each of the first and second anniversary of closing. Additionally, Harvest may earn up to an additional $550,000, contingent upon the achievement of certain performance measures. The Company believes the acquisition will be accretive to quarterly GAAP earnings per share beginning in the second quarter of 2015. About Electro-Sensors, Inc. Electro-Sensors, Inc. designs and manufactures the most rugged and reliable machine monitoring sensors and hazard monitoring systems for industrial applications. Since 1968 we have been utilizing leading-edge technology to continuously improve our products making them easy-to-use and designed to last for many years of accurate service. Our products improve processes by safeguarding systems, reducing downtime, and preventing waste. Most of our standard products ship within two days and have an industry-leading 5-year warranty. Electro-Sensors is proud to be an ISO9001:2008 quality certified company committed to providing excellent customer service and technical support. Cautionary Statement Regarding Forward Looking Statements This press release includes statements about possible or anticipated future financial performance, business activities or plans. These forward-looking statements may include the words "believes", "expects", "anticipates", "intends" or similar expressions. For these forward-looking statements, the Company claims the protection of the safe harbor for forward−looking statements contained in federal securities laws. These forward-looking statements are subject to a number of factors, risks and uncertainties, including those disclosed in our periodic filings with the SEC, that could cause actual performance, activities or plans after the date the statements are made to differ significantly from those indicated in the forward-looking statements. In addition, the forward-looking statements in this press release depend upon our ability to successfully integrate and manufacture the advanced wireless hazard monitoring product line, sell it under the HazardPRO TM trade name, and continue to develop new products using the advanced wireless hazard technology. HazardPRO TM is a trademark of Electro-Sensors, Inc.
[ "EX", "-", "99", ".", "1", "2", "electro140566", "_", "ex99", "-", "1", ".", "htm", "PRESS", "RELEASE", "DATED", "FEBRUARY", "18", ",", "2014", "Exhibit", "99", ".", "1", "Electro", "-", "Sensors", ",", "Inc", ".", "Acquires", "Wireless", "Hazard", "Monitoring", "Product", "Line", "From", "Harvest", "Engineering", "Inc", ".", "Minnetonka", ",", "MN", ",", "February", "18", ",", "2014", "-", "Electro", "-", "Sensors", ",", "Inc", ".", "(", "Nasdaq", ":", "ELSE", ")", "announced", "today", "it", "has", "acquired", "the", "advanced", "wireless", "hazard", "monitoring", "product", "line", "from", "Harvest", "Engineering", "Inc", ".", "(", "\"", "Harvest", "\"", ")", ".", "Electro", "-", "Sensors", "will", "market", "and", "sell", "the", "new", "hazard", "monitoring", "products", "under", "its", "new", "HazardPRO", "TM", "product", "line", "and", "manufacture", "and", "service", "them", "at", "its", "Minnetonka", ",", "Minnesota", "facility", ".", "\"", "The", "creation", "of", "the", "HazardPRO", "TM", "product", "line", "will", "enable", "us", "to", "deliver", "best", "-", "in", "-", "class", "hazard", "monitoring", "systems", "built", "upon", "a", "field", "-", "proven", "wireless", "platform", ",", "\"", "said", "David", "Klenk", ",", "President", "of", "Electro", "-", "Sensors", ".", "\"", "This", "acquisition", "complements", "our", "existing", "hazard", "monitoring", "sensors", "and", "systems", "and", "expands", "our", "product", "line", "to", "include", "the", "most", "advanced", "hazard", "monitoring", "systems", "with", "a", "lower", "installed", "cost", "than", "traditional", "wire", "-", "based", "solutions", ".", "The", "combination", "of", "leading", "hazard", "monitoring", "technology", ",", "field", "-", "proven", "reliability", ",", "true", "remote", "access", "capabilities", ",", "and", "the", "lowest", "overall", "installed", "cost", "make", "this", "a", "market", "-", "leading", "product", "offering", "\"", ".", "\"", "We", "'", "re", "excited", "that", "Electro", "-", "Sensors", "will", "be", "deploying", "this", "technology", "to", "markets", "where", "hazard", "monitoring", "is", "of", "critical", "importance", "\"", ",", "said", "Bruce", "Meyer", ",", "President", "of", "Harvest", "Engineering", ".", "\"", "With", "more", "than", "45", "years", "of", "experience", "serving", "these", "markets", ",", "Electro", "-", "Sensors", "has", "established", "distribution", "channels", ",", "technical", "competency", ",", "and", "customer", "support", "capabilities", "that", "are", "essential", "to", "effectively", "distribute", "this", "technology", "worldwide", ".", "Additionally", ",", "this", "transaction", "will", "enable", "Harvest", "to", "focus", "on", "developing", "its", "core", "business", "of", "designing", "new", ",", "highly", "-", "engineered", "products", "for", "the", "grain", "and", "feed", "market", "\"", ".", "The", "HazardPRO", "TM", "wireless", "hazard", "monitoring", "product", "line", "contains", "a", "variety", "of", "configurations", "ideally", "suited", "for", "a", "wide", "range", "of", "applications", ",", "from", "single", "-", "point", "monitoring", "to", "large", ",", "highly", "-", "complex", ",", "multi", "-", "leg", "installations", ".", "In", "addition", ",", "it", "has", "been", "successfully", "installed", "and", "monitoring", "industrial", "processing", "facilities", "with", "hazardous", "environments", "for", "more", "than", "five", "years", ".", "During", "this", "time", "period", ",", "the", "products", "have", "proven", "to", "be", "easy", "-", "to", "-", "use", ",", "extremely", "reliable", ",", "simple", "-", "to", "-", "operate", ",", "and", "cost", "-", "effective", ".", "Under", "the", "agreement", ",", "Harvest", "received", "$", "400,000", "at", "closing", ",", "and", "will", "receive", "an", "additional", "$", "400,000", "on", "each", "of", "the", "first", "and", "second", "anniversary", "of", "closing", ".", "Additionally", ",", "Harvest", "may", "earn", "up", "to", "an", "additional", "$", "550,000", ",", "contingent", "upon", "the", "achievement", "of", "certain", "performance", "measures", ".", "The", "Company", "believes", "the", "acquisition", "will", "be", "accretive", "to", "quarterly", "GAAP", "earnings", "per", "share", "beginning", "in", "the", "second", "quarter", "of", "2015", ".", "About", "Electro", "-", "Sensors", ",", "Inc", ".", "Electro", "-", "Sensors", ",", "Inc", ".", "designs", "and", "manufactures", "the", "most", "rugged", "and", "reliable", "machine", "monitoring", "sensors", "and", "hazard", "monitoring", "systems", "for", "industrial", "applications", ".", "Since", "1968", "we", "have", "been", "utilizing", "leading", "-", "edge", "technology", "to", "continuously", "improve", "our", "products", "making", "them", "easy", "-", "to", "-", "use", "and", "designed", "to", "last", "for", "many", "years", "of", "accurate", "service", ".", "Our", "products", "improve", "processes", "by", "safeguarding", "systems", ",", "reducing", "downtime", ",", "and", "preventing", "waste", ".", "Most", "of", "our", "standard", "products", "ship", "within", "two", "days", "and", "have", "an", "industry", "-", "leading", "5", "-", "year", "warranty", ".", "Electro", "-", "Sensors", "is", "proud", "to", "be", "an", "ISO9001", ":", "2008", "quality", "certified", "company", "committed", "to", "providing", "excellent", "customer", "service", "and", "technical", "support", ".", "Cautionary", "Statement", "Regarding", "Forward", "Looking", "Statements", "This", "press", "release", "includes", "statements", "about", "possible", "or", "anticipated", "future", "financial", "performance", ",", "business", "activities", "or", "plans", ".", "These", "forward", "-", "looking", "statements", "may", "include", "the", "words", "\"", "believes", "\"", ",", "\"", "expects", "\"", ",", "\"", "anticipates", "\"", ",", "\"", "intends", "\"", "or", "similar", "expressions", ".", "For", "these", "forward", "-", "looking", "statements", ",", "the", "Company", "claims", "the", "protection", "of", "the", "safe", "harbor", "for", "forward", "−", "looking", "statements", "contained", "in", "federal", "securities", "laws", ".", "These", "forward", "-", "looking", "statements", "are", "subject", "to", "a", "number", "of", "factors", ",", "risks", "and", "uncertainties", ",", "including", "those", "disclosed", "in", "our", "periodic", "filings", "with", "the", "SEC", ",", "that", "could", "cause", "actual", "performance", ",", "activities", "or", "plans", "after", "the", "date", "the", "statements", "are", "made", "to", "differ", "significantly", "from", "those", "indicated", "in", "the", "forward", "-", "looking", "statements", ".", "In", "addition", ",", "the", "forward", "-", "looking", "statements", "in", "this", "press", "release", "depend", "upon", "our", "ability", "to", "successfully", "integrate", "and", "manufacture", "the", "advanced", "wireless", "hazard", "monitoring", "product", "line", ",", "sell", "it", "under", "the", "HazardPRO", "TM", "trade", "name", ",", "and", "continue", "to", "develop", "new", "products", "using", "the", "advanced", "wireless", "hazard", "technology", ".", "HazardPRO", "TM", "is", "a", "trademark", "of", "Electro", "-", "Sensors", ",", "Inc", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1479681-000160706219000421-ex99_1
EX-99.1 6 ex99_1.htm EXHIBIT 99.1 CLINIGENCE HOLDINGS, INC. GOES PUBLIC VIA A REVERSE MERGER WITH IGAMBIT, INC. ATLANTA, GA − (BUSINESSWIRE) - October 31, 2019 - Clinigence Holdings, Inc. ("Clinigence" or the "Company") announced today that it has become a publicly-traded company via a reverse merger with iGambit, Inc. ("iGambit") (OTC: IGMB), a fully reporting public company. The combined company will be called Clinigence Holdings, Inc. and will trade on the OTC Markets under the symbol CLNH. Clinigence is a pioneer in clinical quality reporting and population health analytics, and iGambit wholly owns HealthDatix, a healthcare technology company with a platform for optimizing annual wellness visits/health risk assessments ("AWV/HRA") and chronic care management ("CCM") as well as the BioDatix wearable device for remote patient monitoring. The newly combined organization will be a leading publicly-traded healthcare information technology company which will be well positioned for the ongoing transition of U.S. healthcare from fee-for-service payments to value-based reimbursements. Our industry-leading cloud-based platforms allow our clients to leverage data from multiple sources to operate efficiently and to deliver the best possible outcomes for their patients. The transaction was approved by the Board of Directors of both companies. Pursuant to the merger agreement, iGambit has issued newly-issued shares of common stock, on a fully-diluted pro rata basis, to the equity holders of Clinigence in exchange for 100% of the outstanding equity securities of Clinigence by means of a reverse triangular merger in which a wholly owned subsidiary of iGambit merged with and into Clinigence, with Clinigence continuing as the surviving corporation under the name Clinigence Health Inc. (the "Merger"). The former Clinigence equity holders own 85% of iGambit's issued and outstanding common stock and the former iGambit equity holders own 15% of iGambit's issued and outstanding common stock, in each case on a fully-diluted, as converted basis as of immediately prior to the Merger (including options, warrants and other rights to acquire equity securities of iGambit). Jacob "Kobi" Margolin will continue as Chief Executive Officer of the combined company. Warren Hosseinion, M.D., will continue as Chairman of the Board of the combined company. Elisa Luqman, J.D., MBA, will continue as Chief Financial Officer of the combined company, and Lawrence Schimmel, M.D., will continue as Chief Medical Officer. The Board of Directors will consist of nine directors: seven directors (including five independent directors) are former Clinigence directors and two directors (including one independent director) are existing iGambit directors. The former Clinigence directors are Jacob "Kobi" Margolin, Lawrence Schimmel, M.D., Mark Fawcett, MBA, Mitch Creem, David Meiri, Ph.D., Martin Breslin and Warren Hosseinion, M.D. The existing iGambit directors are John Waters and Elisa Luqman, J.D., MBA. "We are very pleased to announce the completion of our merger with iGambit to create one of the leading healthcare information technology companies in the nation", stated Jacob "Kobi" Margolin, Chief Executive Officer of Clinigence. "The merger will create a platform with a comprehensive suite of solutions for health plans, independent physician associations/medical groups, management services organizations, accountable care organizations, hospitals and individual physicians. We see tremendous growth opportunities ahead". 1 "Becoming a public company is a key element of our growth strategy, and the completion of this merger is a significant accomplishment for Clinigence. A public listing will provide us with access to capital from the public markets, enable us to broaden our investor base, enhance our recruitment of additional key team members, and allow us to use our public equity to execute future acquisitions," stated Warren Hosseinion, M.D., Chairman of Clinigence. "Our primary goal after the merger will be to seek to list our common stock on the Nasdaq Capital Market". "We would like to thank our existing iGambit shareholders and welcome our new shareholders", stated Elisa Luqman, Chief Financial Officer of Clinigence. "This merger is an important milestone as we continue to build shareholder value". Reverse Stock Split iGambit has effected a 500-to-1 reverse stock split of its common stock. Beginning with the opening of trading on November 1, 2019, Clinigence's common stock will trade on a split-adjusted basis. The reverse stock split affected all issued and outstanding shares of iGambit's common stock, as well as common stock underlying stock options, warrants, other common stock-based equity grants and any other of iGambit's securities convertible into or exchangeable for shares of iGambit's common stock, outstanding immediately prior to the effectiveness of the reverse stock split. Trading Symbol The Company's new trading symbol will be "CLNH", although it is expected that the letter "D" will be appended to the Company's current ticker IGMB for approximately 20 trading days following the effective date to indicate the completion of the reverse stock split. In addition, the common stock will trade under a new CUSIP number: 18727D105. Advisors Shartsis Friese LLP acted as legal advisor to Clinigence. Dickinson Wright served as iGambit's legal counsel. A copy of the merger agreement in its entirety and the Form 8-K report may be accessed at www.sec.gov. About HealthDatix Healthy, Longer Lives, that's our mission. Within the population of any group or organization there are people who are healthy and those that are at risk. Our mission is to aggregate their data and deliver accurate reporting necessary to make vital decisions on a course of treatment or education for those at risk. We empower you with the data needed to negotiate future health costs. We're helping to shape the future of our nation's health care system, with robust leveraging of technology that delivers value-based healthcare and payment without extra staff or additional efforts on the part of the caregiver. Our proprietary data analytics management uncovers new opportunities for health wellness visits and 24/7/365 monitoring of people with chronic conditions. For more information, please visit www.healthdatix.com. About Clinigence Holdings, Inc. Clinigence Holdings is a leading healthcare information technology company providing an advanced, cloud-based platform that enables healthcare organizations to provide value-based care and population health management. The Clinigence platform aggregates clinical and claims data across multiple settings, information systems and sources to create a holistic view of each patient and provider and virtually unlimited insights into patient populations. 2 About iGambit, Inc. iGambit (OTC: IGMB) is a fully reporting publicly-held company that wholly-owns HealthDatix. For more information, please visit www.igambit.com. Information on our web-site does not comprise a part of this press release. Safe Harbor: Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Act of 1995. When used in this press release, the words or phrases "will likely result", "expected to", "will continue", "anticipated", "estimate", "projected," "intends", "primary goal", or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, including but not limited to, economic conditions, dependence on management, dilution to shareholders, lack of capital, changes in laws or regulations, the effects of rapid growth upon the Company and the ability of management to effectively respond to the growth, demand for products and services of the Company, newly developing technologies, its ability to compete, conflicts of interest related to party transactions, regulatory matters, protection of technology, lack of industry standards, the effects of competition, the inability of the Company to obtain or maintain the listing of the post-acquisition company's ordinary shares on Nasdaq following the Merger, and the ability of the Company to obtain additional financing. Such factors could materially adversely affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed within this press release. FOR ADDITIONAL INFORMATION: Clinigence Holdings, Inc. Jacob "Kobi" Margolin Chief Executive Officer Via email at [email protected] 3
[ "EX", "-", "99", ".", "1", "6", "ex99", "_", "1", ".", "htm", "EXHIBIT", "99", ".", "1", "CLINIGENCE", "HOLDINGS", ",", "INC", ".", "GOES", "PUBLIC", "VIA", "A", "REVERSE", "MERGER", "WITH", "IGAMBIT", ",", "INC", ".", "ATLANTA", ",", "GA", "−", "(", "BUSINESSWIRE", ")", "-", "October", "31", ",", "2019", "-", "Clinigence", "Holdings", ",", "Inc", ".", "(", "\"", "Clinigence", "\"", "or", "the", "\"", "Company", "\"", ")", "announced", "today", "that", "it", "has", "become", "a", "publicly", "-", "traded", "company", "via", "a", "reverse", "merger", "with", "iGambit", ",", "Inc", ".", "(", "\"", "iGambit", "\"", ")", "(", "OTC", ":", "IGMB", ")", ",", "a", "fully", "reporting", "public", "company", ".", "The", "combined", "company", "will", "be", "called", "Clinigence", "Holdings", ",", "Inc", ".", "and", "will", "trade", "on", "the", "OTC", "Markets", "under", "the", "symbol", "CLNH", ".", "Clinigence", "is", "a", "pioneer", "in", "clinical", "quality", "reporting", "and", "population", "health", "analytics", ",", "and", "iGambit", "wholly", "owns", "HealthDatix", ",", "a", "healthcare", "technology", "company", "with", "a", "platform", "for", "optimizing", "annual", "wellness", "visits", "/", "health", "risk", "assessments", "(", "\"", "AWV", "/", "HRA", "\"", ")", "and", "chronic", "care", "management", "(", "\"", "CCM", "\"", ")", "as", "well", "as", "the", "BioDatix", "wearable", "device", "for", "remote", "patient", "monitoring", ".", "The", "newly", "combined", "organization", "will", "be", "a", "leading", "publicly", "-", "traded", "healthcare", "information", "technology", "company", "which", "will", "be", "well", "positioned", "for", "the", "ongoing", "transition", "of", "U", ".", "S", ".", "healthcare", "from", "fee", "-", "for", "-", "service", "payments", "to", "value", "-", "based", "reimbursements", ".", "Our", "industry", "-", "leading", "cloud", "-", "based", "platforms", "allow", "our", "clients", "to", "leverage", "data", "from", "multiple", "sources", "to", "operate", "efficiently", "and", "to", "deliver", "the", "best", "possible", "outcomes", "for", "their", "patients", ".", "The", "transaction", "was", "approved", "by", "the", "Board", "of", "Directors", "of", "both", "companies", ".", "Pursuant", "to", "the", "merger", "agreement", ",", "iGambit", "has", "issued", "newly", "-", "issued", "shares", "of", "common", "stock", ",", "on", "a", "fully", "-", "diluted", "pro", "rata", "basis", ",", "to", "the", "equity", "holders", "of", "Clinigence", "in", "exchange", "for", "100", "%", "of", "the", "outstanding", "equity", "securities", "of", "Clinigence", "by", "means", "of", "a", "reverse", "triangular", "merger", "in", "which", "a", "wholly", "owned", "subsidiary", "of", "iGambit", "merged", "with", "and", "into", "Clinigence", ",", "with", "Clinigence", "continuing", "as", "the", "surviving", "corporation", "under", "the", "name", "Clinigence", "Health", "Inc", ".", "(", "the", "\"", "Merger", "\"", ")", ".", "The", "former", "Clinigence", "equity", "holders", "own", "85", "%", "of", "iGambit", "'s", "issued", "and", "outstanding", "common", "stock", "and", "the", "former", "iGambit", "equity", "holders", "own", "15", "%", "of", "iGambit", "'s", "issued", "and", "outstanding", "common", "stock", ",", "in", "each", "case", "on", "a", "fully", "-", "diluted", ",", "as", "converted", "basis", "as", "of", "immediately", "prior", "to", "the", "Merger", "(", "including", "options", ",", "warrants", "and", "other", "rights", "to", "acquire", "equity", "securities", "of", "iGambit", ")", ".", "Jacob", "\"", "Kobi", "\"", "Margolin", "will", "continue", "as", "Chief", "Executive", "Officer", "of", "the", "combined", "company", ".", "Warren", "Hosseinion", ",", "M", ".", "D", ".", ",", "will", "continue", "as", "Chairman", "of", "the", "Board", "of", "the", "combined", "company", ".", "Elisa", "Luqman", ",", "J", ".", "D", ".", ",", "MBA", ",", "will", "continue", "as", "Chief", "Financial", "Officer", "of", "the", "combined", "company", ",", "and", "Lawrence", "Schimmel", ",", "M", ".", "D", ".", ",", "will", "continue", "as", "Chief", "Medical", "Officer", ".", "The", "Board", "of", "Directors", "will", "consist", "of", "nine", "directors", ":", "seven", "directors", "(", "including", "five", "independent", "directors", ")", "are", "former", "Clinigence", "directors", "and", "two", "directors", "(", "including", "one", "independent", "director", ")", "are", "existing", "iGambit", "directors", ".", "The", "former", "Clinigence", "directors", "are", "Jacob", "\"", "Kobi", "\"", "Margolin", ",", "Lawrence", "Schimmel", ",", "M", ".", "D", ".", ",", "Mark", "Fawcett", ",", "MBA", ",", "Mitch", "Creem", ",", "David", "Meiri", ",", "Ph", ".", "D", ".", ",", "Martin", "Breslin", "and", "Warren", "Hosseinion", ",", "M", ".", "D", ".", "The", "existing", "iGambit", "directors", "are", "John", "Waters", "and", "Elisa", "Luqman", ",", "J", ".", "D", ".", ",", "MBA", ".", "\"", "We", "are", "very", "pleased", "to", "announce", "the", "completion", "of", "our", "merger", "with", "iGambit", "to", "create", "one", "of", "the", "leading", "healthcare", "information", "technology", "companies", "in", "the", "nation", "\"", ",", "stated", "Jacob", "\"", "Kobi", "\"", "Margolin", ",", "Chief", "Executive", "Officer", "of", "Clinigence", ".", "\"", "The", "merger", "will", "create", "a", "platform", "with", "a", "comprehensive", "suite", "of", "solutions", "for", "health", "plans", ",", "independent", "physician", "associations", "/", "medical", "groups", ",", "management", "services", "organizations", ",", "accountable", "care", "organizations", ",", "hospitals", "and", "individual", "physicians", ".", "We", "see", "tremendous", "growth", "opportunities", "ahead", "\"", ".", "1", "\"", "Becoming", "a", "public", "company", "is", "a", "key", "element", "of", "our", "growth", "strategy", ",", "and", "the", "completion", "of", "this", "merger", "is", "a", "significant", "accomplishment", "for", "Clinigence", ".", "A", "public", "listing", "will", "provide", "us", "with", "access", "to", "capital", "from", "the", "public", "markets", ",", "enable", "us", "to", "broaden", "our", "investor", "base", ",", "enhance", "our", "recruitment", "of", "additional", "key", "team", "members", ",", "and", "allow", "us", "to", "use", "our", "public", "equity", "to", "execute", "future", "acquisitions", ",", "\"", "stated", "Warren", "Hosseinion", ",", "M", ".", "D", ".", ",", "Chairman", "of", "Clinigence", ".", "\"", "Our", "primary", "goal", "after", "the", "merger", "will", "be", "to", "seek", "to", "list", "our", "common", "stock", "on", "the", "Nasdaq", "Capital", "Market", "\"", ".", "\"", "We", "would", "like", "to", "thank", "our", "existing", "iGambit", "shareholders", "and", "welcome", "our", "new", "shareholders", "\"", ",", "stated", "Elisa", "Luqman", ",", "Chief", "Financial", "Officer", "of", "Clinigence", ".", "\"", "This", "merger", "is", "an", "important", "milestone", "as", "we", "continue", "to", "build", "shareholder", "value", "\"", ".", "Reverse", "Stock", "Split", "iGambit", "has", "effected", "a", "500", "-", "to", "-", "1", "reverse", "stock", "split", "of", "its", "common", "stock", ".", "Beginning", "with", "the", "opening", "of", "trading", "on", "November", "1", ",", "2019", ",", "Clinigence", "'s", "common", "stock", "will", "trade", "on", "a", "split", "-", "adjusted", "basis", ".", "The", "reverse", "stock", "split", "affected", "all", "issued", "and", "outstanding", "shares", "of", "iGambit", "'s", "common", "stock", ",", "as", "well", "as", "common", "stock", "underlying", "stock", "options", ",", "warrants", ",", "other", "common", "stock", "-", "based", "equity", "grants", "and", "any", "other", "of", "iGambit", "'s", "securities", "convertible", "into", "or", "exchangeable", "for", "shares", "of", "iGambit", "'s", "common", "stock", ",", "outstanding", "immediately", "prior", "to", "the", "effectiveness", "of", "the", "reverse", "stock", "split", ".", "Trading", "Symbol", "The", "Company", "'s", "new", "trading", "symbol", "will", "be", "\"", "CLNH", "\"", ",", "although", "it", "is", "expected", "that", "the", "letter", "\"", "D", "\"", "will", "be", "appended", "to", "the", "Company", "'s", "current", "ticker", "IGMB", "for", "approximately", "20", "trading", "days", "following", "the", "effective", "date", "to", "indicate", "the", "completion", "of", "the", "reverse", "stock", "split", ".", "In", "addition", ",", "the", "common", "stock", "will", "trade", "under", "a", "new", "CUSIP", "number", ":", "18727D105", ".", "Advisors", "Shartsis", "Friese", "LLP", "acted", "as", "legal", "advisor", "to", "Clinigence", ".", "Dickinson", "Wright", "served", "as", "iGambit", "'s", "legal", "counsel", ".", "A", "copy", "of", "the", "merger", "agreement", "in", "its", "entirety", "and", "the", "Form", "8", "-", "K", "report", "may", "be", "accessed", "at", "www.sec.gov", ".", "About", "HealthDatix", "Healthy", ",", "Longer", "Lives", ",", "that", "'", "s", "our", "mission", ".", "Within", "the", "population", "of", "any", "group", "or", "organization", "there", "are", "people", "who", "are", "healthy", "and", "those", "that", "are", "at", "risk", ".", "Our", "mission", "is", "to", "aggregate", "their", "data", "and", "deliver", "accurate", "reporting", "necessary", "to", "make", "vital", "decisions", "on", "a", "course", "of", "treatment", "or", "education", "for", "those", "at", "risk", ".", "We", "empower", "you", "with", "the", "data", "needed", "to", "negotiate", "future", "health", "costs", ".", "We", "'", "re", "helping", "to", "shape", "the", "future", "of", "our", "nation", "'s", "health", "care", "system", ",", "with", "robust", "leveraging", "of", "technology", "that", "delivers", "value", "-", "based", "healthcare", "and", "payment", "without", "extra", "staff", "or", "additional", "efforts", "on", "the", "part", "of", "the", "caregiver", ".", "Our", "proprietary", "data", "analytics", "management", "uncovers", "new", "opportunities", "for", "health", "wellness", "visits", "and", "24", "/", "7", "/", "365", "monitoring", "of", "people", "with", "chronic", "conditions", ".", "For", "more", "information", ",", "please", "visit", "www.healthdatix.com", ".", "About", "Clinigence", "Holdings", ",", "Inc", ".", "Clinigence", "Holdings", "is", "a", "leading", "healthcare", "information", "technology", "company", "providing", "an", "advanced", ",", "cloud", "-", "based", "platform", "that", "enables", "healthcare", "organizations", "to", "provide", "value", "-", "based", "care", "and", "population", "health", "management", ".", "The", "Clinigence", "platform", "aggregates", "clinical", "and", "claims", "data", "across", "multiple", "settings", ",", "information", "systems", "and", "sources", "to", "create", "a", "holistic", "view", "of", "each", "patient", "and", "provider", "and", "virtually", "unlimited", "insights", "into", "patient", "populations", ".", "2", "About", "iGambit", ",", "Inc", ".", "iGambit", "(", "OTC", ":", "IGMB", ")", "is", "a", "fully", "reporting", "publicly", "-", "held", "company", "that", "wholly", "-", "owns", "HealthDatix", ".", "For", "more", "information", ",", "please", "visit", "www.igambit.com", ".", "Information", "on", "our", "web", "-", "site", "does", "not", "comprise", "a", "part", "of", "this", "press", "release", ".", "Safe", "Harbor", ":", "Certain", "statements", "and", "information", "included", "in", "this", "press", "release", "constitute", "\"", "forward", "-", "looking", "statements", "\"", "within", "the", "meaning", "of", "the", "Federal", "Private", "Securities", "Litigation", "Act", "of", "1995", ".", "When", "used", "in", "this", "press", "release", ",", "the", "words", "or", "phrases", "\"", "will", "likely", "result", "\"", ",", "\"", "expected", "to", "\"", ",", "\"", "will", "continue", "\"", ",", "\"", "anticipated", "\"", ",", "\"", "estimate", "\"", ",", "\"", "projected", ",", "\"", "\"", "intends", "\"", ",", "\"", "primary", "goal", "\"", ",", "or", "similar", "expressions", "are", "intended", "to", "identify", "\"", "forward", "-", "looking", "statements", "\"", "within", "the", "meaning", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "Such", "statements", "are", "subject", "to", "certain", "risks", ",", "known", "and", "unknown", ",", "and", "uncertainties", ",", "including", "but", "not", "limited", "to", ",", "economic", "conditions", ",", "dependence", "on", "management", ",", "dilution", "to", "shareholders", ",", "lack", "of", "capital", ",", "changes", "in", "laws", "or", "regulations", ",", "the", "effects", "of", "rapid", "growth", "upon", "the", "Company", "and", "the", "ability", "of", "management", "to", "effectively", "respond", "to", "the", "growth", ",", "demand", "for", "products", "and", "services", "of", "the", "Company", ",", "newly", "developing", "technologies", ",", "its", "ability", "to", "compete", ",", "conflicts", "of", "interest", "related", "to", "party", "transactions", ",", "regulatory", "matters", ",", "protection", "of", "technology", ",", "lack", "of", "industry", "standards", ",", "the", "effects", "of", "competition", ",", "the", "inability", "of", "the", "Company", "to", "obtain", "or", "maintain", "the", "listing", "of", "the", "post", "-", "acquisition", "company", "'s", "ordinary", "shares", "on", "Nasdaq", "following", "the", "Merger", ",", "and", "the", "ability", "of", "the", "Company", "to", "obtain", "additional", "financing", ".", "Such", "factors", "could", "materially", "adversely", "affect", "the", "Company", "'s", "financial", "performance", "and", "could", "cause", "the", "Company", "'s", "actual", "results", "for", "future", "periods", "to", "differ", "materially", "from", "any", "opinions", "or", "statements", "expressed", "within", "this", "press", "release", ".", "FOR", "ADDITIONAL", "INFORMATION", ":", "Clinigence", "Holdings", ",", "Inc", ".", "Jacob", "\"", "Kobi", "\"", "Margolin", "Chief", "Executive", "Officer", "Via", "email", "at", "[email protected]", "3" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1466026-000110465917038568-a17-14721_1ex99d1
EX-99.1 4 a17-14721_1ex99d1.htm PRESS RELEASE Exhibit 99.1 For Immediate Release Midland States Bancorp, Inc. Completes the Acquisition of Centrue Financial Corporation Effingham, IL, June 12, 2017 - Midland States Bancorp, Inc. (NASDAQ: MSBI) ("Midland") today announced it has completed its acquisition of Centrue Financial Corporation (NASDAQ: CFCB) ("Centrue"), the parent company of Centrue Bank. As a result of the transaction, Centrue Bank is now a wholly owned subsidiary of Midland. The transaction brings Midland's total assets to approximately $4.5 billion. Leon J. Holschbach, President and Chief Executive Officer of Midland, commented, "We are very pleased to welcome Centrue's customers, employees and shareholders to the Midland family. Centrue is a great franchise and we are very familiar with its markets. Centrue customers will also benefit from the additional products, services and lending capacity that Midland offers. "This acquisition fits squarely into our strategic plan of making accretive acquisitions in good markets. We believe we can realize strong synergies through this transaction while also increasing our ability to grow our customer base in northern and central Illinois", said Mr. Holschbach. The transaction will increase the Midland branch network to approximately 50 locations across Illinois and in the St. Louis and Colorado markets. Midland also operates approximately 40 additional locations across the United States in connection with its residential mortgage, commercial FHA loan origination and commercial equipment leasing businesses. About Midland States Bancorp, Inc. Midland States Bancorp, Inc. is a community-based financial holding company headquartered in Effingham, Illinois, and is the sole shareholder of Midland States Bank. Following the acquisition of Centrue Financial Corporation, Midland has assets of approximately $4.5 billion. Midland's Wealth Management Group has assets under administration of approximately $1.9 billion. Midland provides a full range of commercial and consumer banking products and services, merchant credit card services, trust and investment management, and insurance and financial planning services. In addition, commercial equipment leasing services are provided through Heartland Business Credit, and multi-family and healthcare facility FHA financing is provided through Love Funding, Midland's non-bank subsidiaries. For additional information, visit Midland at www.midlandsb.com or follow Midland on LinkedIn at https://www.linkedin.com/company/midland-states-bank. Special Note Concerning Forward-Looking Statements Readers should note that this press release includes "forward-looking statements", including but not limited to statements about the Centrue transaction. These statements are subject to many risks and uncertainties, including the possibility that any of the anticipated benefits of the transaction will not be realized within the expected time period or at all and the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events. Readers should note that the forward-looking statements included in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "will", "propose", "may", "plan", "seek", "expect", "intend", "estimate", "anticipate", "believe" or "continue", or similar terminology. Any forward-looking statements presented herein are made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise. CONTACTS: Kevin L. Thompson, Chief Financial Officer, at [email protected] or (217) 342-7321 Douglas J. Tucker, Sr. V.P., Corporate Counsel, at [email protected] or (217) 342-7321
[ "EX", "-", "99", ".", "1", "4", "a17", "-", "14721", "_", "1ex99d1", ".", "htm", "PRESS", "RELEASE", "Exhibit", "99", ".", "1", "For", "Immediate", "Release", "Midland", "States", "Bancorp", ",", "Inc", ".", "Completes", "the", "Acquisition", "of", "Centrue", "Financial", "Corporation", "Effingham", ",", "IL", ",", "June", "12", ",", "2017", "-", "Midland", "States", "Bancorp", ",", "Inc", ".", "(", "NASDAQ", ":", "MSBI", ")", "(", "\"", "Midland", "\"", ")", "today", "announced", "it", "has", "completed", "its", "acquisition", "of", "Centrue", "Financial", "Corporation", "(", "NASDAQ", ":", "CFCB", ")", "(", "\"", "Centrue", "\"", ")", ",", "the", "parent", "company", "of", "Centrue", "Bank", ".", "As", "a", "result", "of", "the", "transaction", ",", "Centrue", "Bank", "is", "now", "a", "wholly", "owned", "subsidiary", "of", "Midland", ".", "The", "transaction", "brings", "Midland", "'s", "total", "assets", "to", "approximately", "$", "4.5 billion", ".", "Leon", "J", ".", "Holschbach", ",", "President", "and", "Chief", "Executive", "Officer", "of", "Midland", ",", "commented", ",", "\"", "We", "are", "very", "pleased", "to", "welcome", "Centrue", "'s", "customers", ",", "employees", "and", "shareholders", "to", "the", "Midland", "family", ".", "Centrue", "is", "a", "great", "franchise", "and", "we", "are", "very", "familiar", "with", "its", "markets", ".", "Centrue", "customers", "will", "also", "benefit", "from", "the", "additional", "products", ",", "services", "and", "lending", "capacity", "that", "Midland", "offers", ".", "\"", "This", "acquisition", "fits", "squarely", "into", "our", "strategic", "plan", "of", "making", "accretive", "acquisitions", "in", "good", "markets", ".", "We", "believe", "we", "can", "realize", "strong", "synergies", "through", "this", "transaction", "while", "also", "increasing", "our", "ability", "to", "grow", "our", "customer", "base", "in", "northern", "and", "central", "Illinois", "\"", ",", "said", "Mr", ".", "Holschbach", ".", "The", "transaction", "will", "increase", "the", "Midland", "branch", "network", "to", "approximately", "50", "locations", "across", "Illinois", "and", "in", "the", "St", ".", "Louis", "and", "Colorado", "markets", ".", "Midland", "also", "operates", "approximately", "40", "additional", "locations", "across", "the", "United", "States", "in", "connection", "with", "its", "residential", "mortgage", ",", "commercial", "FHA", "loan", "origination", "and", "commercial", "equipment", "leasing", "businesses", ".", "About", "Midland", "States", "Bancorp", ",", "Inc", ".", "Midland", "States", "Bancorp", ",", "Inc", ".", "is", "a", "community", "-", "based", "financial", "holding", "company", "headquartered", "in", "Effingham", ",", "Illinois", ",", "and", "is", "the", "sole", "shareholder", "of", "Midland", "States", "Bank", ".", "Following", "the", "acquisition", "of", "Centrue", "Financial", "Corporation", ",", "Midland", "has", "assets", "of", "approximately", "$", "4.5 billion", ".", "Midland", "'s", "Wealth", "Management", "Group", "has", "assets", "under", "administration", "of", "approximately", "$", "1.9 billion", ".", "Midland", "provides", "a", "full", "range", "of", "commercial", "and", "consumer", "banking", "products", "and", "services", ",", "merchant", "credit", "card", "services", ",", "trust", "and", "investment", "management", ",", "and", "insurance", "and", "financial", "planning", "services", ".", "In", "addition", ",", "commercial", "equipment", "leasing", "services", "are", "provided", "through", "Heartland", "Business", "Credit", ",", "and", "multi", "-", "family", "and", "healthcare", "facility", "FHA", "financing", "is", "provided", "through", "Love", "Funding", ",", "Midland", "'s", "non", "-", "bank", "subsidiaries", ".", "For", "additional", "information", ",", "visit", "Midland", "at", "www.midlandsb.com", "or", "follow", "Midland", "on", "LinkedIn", "at", "https://www.linkedin.com/company/midland-states-bank", ".", "Special", "Note", "Concerning", "Forward", "-", "Looking", "Statements", "Readers", "should", "note", "that", "this", "press", "release", "includes", "\"", "forward", "-", "looking", "statements", "\"", ",", "including", "but", "not", "limited", "to", "statements", "about", "the", "Centrue", "transaction", ".", "These", "statements", "are", "subject", "to", "many", "risks", "and", "uncertainties", ",", "including", "the", "possibility", "that", "any", "of", "the", "anticipated", "benefits", "of", "the", "transaction", "will", "not", "be", "realized", "within", "the", "expected", "time", "period", "or", "at", "all", "and", "the", "possibility", "that", "the", "transaction", "may", "be", "more", "expensive", "to", "complete", "than", "anticipated", ",", "including", "as", "a", "result", "of", "unexpected", "factors", "or", "events", ".", "Readers", "should", "note", "that", "the", "forward", "-", "looking", "statements", "included", "in", "this", "press", "release", "are", "not", "a", "guarantee", "of", "future", "events", ",", "and", "that", "actual", "events", "may", "differ", "materially", "from", "those", "made", "in", "or", "suggested", "by", "the", "forward", "-", "looking", "statements", ".", "Forward", "-", "looking", "statements", "generally", "can", "be", "identified", "by", "the", "use", "of", "forward", "-", "looking", "terminology", "such", "as", "\"", "will", "\"", ",", "\"", "propose", "\"", ",", "\"", "may", "\"", ",", "\"", "plan", "\"", ",", "\"", "seek", "\"", ",", "\"", "expect", "\"", ",", "\"", "intend", "\"", ",", "\"", "estimate", "\"", ",", "\"", "anticipate", "\"", ",", "\"", "believe", "\"", "or", "\"", "continue", "\"", ",", "or", "similar", "terminology", ".", "Any", "forward", "-", "looking", "statements", "presented", "herein", "are", "made", "only", "as", "of", "the", "date", "of", "this", "press", "release", ",", "and", "we", "do", "not", "undertake", "any", "obligation", "to", "update", "or", "revise", "any", "forward", "-", "looking", "statements", "to", "reflect", "changes", "in", "assumptions", ",", "the", "occurrence", "of", "unanticipated", "events", ",", "or", "otherwise", ".", "CONTACTS", ":", "Kevin", "L", ".", "Thompson", ",", "Chief", "Financial", "Officer", ",", "at", "[email protected]", "or", "(", "217", ")", "342", "-", "7321", "Douglas", "J", ".", "Tucker, Sr.", "V", ".", "P", ".", ",", "Corporate", "Counsel", ",", "at", "[email protected]", "or", "(", "217", ")", "342", "-", "7321" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
81023-000110842609000004-exh99-1pnmr
EX-99.1 2 exh99-1pnmr.htm EXHIBIT 99.1 exh99-1pnmr.htm Exhibit 99.1 For Immediate Release Jan. 30, 2009 PNM Completes Sale of Gas Operations Move provides path to implement key initiatives (ALBUQUERQUE, N.M.) - PNM Resources' (NYSE: PNM) New Mexico utility, PNM, today successfully completed the cash sale of its natural gas operations to New Mexico Gas Company for approximately $640 million, which includes approximately $20 million in purchase-price adjustments. "Completing the PNM gas operations sale is a key step toward returning our New Mexico utility, PNM, to financial health and strengthening the entire corporation," said Jeff Sterba, PNM Resources chairman and CEO. "Our plan is to use the net proceeds of the sale to reduce PNM and PNM Resources debt and other corporate purposes. "In addition, the gas operations sale allows PNM Resources to carry forward two key initiatives: focus solely on the generation and delivery of electricity, and place more emphasis on our efforts to obtain appropriate regulatory treatment for our electric utilities in New Mexico and Texas". As of today, PNM Resources is a holding company operating: · PNM - a vertically integrated electric utility with nearly 500,000 customers in New Mexico; · TNMP - a Texas distribution and transmission electric utility with 230,000 end-users; and · First Choice Power - a retail electricity provider competing in Texas' deregulated market serving more than 237,000 customers. PNM Resources also owns 50 percent of EnergyCo - a power-marketing and generation company in Texas with 920 megawatts of capacity. Upon completion of Unit 4 at the Cedar Bayou Generating Station in mid-2009, EnergyCo's generation capacity will be nearly 1,200 megawatts. Today's closing also resulted in a $15 million payment to PNM Resources from Continental Energy Systems, which owns New Mexico Gas Company. Continental agreed to make the payment as consideration for the termination of a separate transaction in which PNM Resources would have acquired another Continental subsidiary. (MORE) 1-29-09 1:15 pm PNM Completes Sale of Gas Operations 1-30-09 pg. 2 of 2 Background: PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2007 consolidated operating revenues from continuing and discontinued operations of $2.4 billion. Through its utility and energy subsidiaries, PNM Resources has more than 2,700 megawatts of generation resources and serves electricity to approximately 859,000 homes and businesses in New Mexico and Texas. The company also has a 50-percent ownership of EnergyCo, which owns approximately 920 megawatts of generation. For more information, visit www.PNMResources.com . CONTACTS: Analysts Analysts & Media Gina Jacobi, (505) 241-2211 Frederick Bermudez, (505) 241-4831 (END) 1-29-09 1:15 pm
[ "EX", "-", "99", ".", "1", "2", "exh99", "-", "1pnmr", ".", "htm", "EXHIBIT", "99", ".", "1", "exh99", "-", "1pnmr", ".", "htm", "Exhibit", "99", ".", "1", "For", "Immediate", "Release", "Jan.", "30", ",", "2009", "PNM", "Completes", "Sale", "of", "Gas", "Operations", "Move", "provides", "path", "to", "implement", "key", "initiatives", "(", "ALBUQUERQUE", ",", "N", ".", "M", ".", ")", "-", "PNM", "Resources", "'", "(", "NYSE", ":", "PNM", ")", "New", "Mexico", "utility", ",", "PNM", ",", "today", "successfully", "completed", "the", "cash", "sale", "of", "its", "natural", "gas", "operations", "to", "New", "Mexico", "Gas", "Company", "for", "approximately", "$", "640 million", ",", "which", "includes", "approximately", "$", "20 million", "in", "purchase", "-", "price", "adjustments", ".", "\"", "Completing", "the", "PNM", "gas", "operations", "sale", "is", "a", "key", "step", "toward", "returning", "our", "New", "Mexico", "utility", ",", "PNM", ",", "to", "financial", "health", "and", "strengthening", "the", "entire", "corporation", ",", "\"", "said", "Jeff", "Sterba", ",", "PNM", "Resources", "chairman", "and", "CEO", ".", "\"", "Our", "plan", "is", "to", "use", "the", "net", "proceeds", "of", "the", "sale", "to", "reduce", "PNM", "and", "PNM", "Resources", "debt", "and", "other", "corporate", "purposes", ".", "\"", "In", "addition", ",", "the", "gas", "operations", "sale", "allows", "PNM", "Resources", "to", "carry", "forward", "two", "key", "initiatives", ":", "focus", "solely", "on", "the", "generation", "and", "delivery", "of", "electricity", ",", "and", "place", "more", "emphasis", "on", "our", "efforts", "to", "obtain", "appropriate", "regulatory", "treatment", "for", "our", "electric", "utilities", "in", "New", "Mexico", "and", "Texas", "\"", ".", "As", "of", "today", ",", "PNM", "Resources", "is", "a", "holding", "company", "operating", ":", "·", "PNM", "-", "a", "vertically", "integrated", "electric", "utility", "with", "nearly", "500,000", "customers", "in", "New", "Mexico", ";", "·", "TNMP", "-", "a", "Texas", "distribution", "and", "transmission", "electric", "utility", "with", "230,000", "end", "-", "users", ";", "and", "·", "First", "Choice", "Power", "-", "a", "retail", "electricity", "provider", "competing", "in", "Texas", "'", "deregulated", "market", "serving", "more", "than", "237,000", "customers", ".", "PNM", "Resources", "also", "owns", "50", "percent", "of", "EnergyCo", "-", "a", "power", "-", "marketing", "and", "generation", "company", "in", "Texas", "with", "920", "megawatts", "of", "capacity", ".", "Upon", "completion", "of", "Unit", "4", "at", "the", "Cedar", "Bayou", "Generating", "Station", "in", "mid", "-", "2009", ",", "EnergyCo", "'s", "generation", "capacity", "will", "be", "nearly", "1,200", "megawatts", ".", "Today", "'s", "closing", "also", "resulted", "in", "a", "$", "15 million", "payment", "to", "PNM", "Resources", "from", "Continental", "Energy", "Systems", ",", "which", "owns", "New", "Mexico", "Gas", "Company", ".", "Continental", "agreed", "to", "make", "the", "payment", "as", "consideration", "for", "the", "termination", "of", "a", "separate", "transaction", "in", "which", "PNM", "Resources", "would", "have", "acquired", "another", "Continental", "subsidiary", ".", "(", "MORE", ")", "1", "-", "29", "-", "09", "1", ":", "15", "pm", "PNM", "Completes", "Sale", "of", "Gas", "Operations", "1", "-", "30", "-", "09", "pg", ".", "2", "of", "2", "Background", ":", "PNM", "Resources", "(", "NYSE", ":", "PNM", ")", "is", "an", "energy", "holding", "company", "based", "in", "Albuquerque", ",", "N", ".", "M", ".", ",", "with", "2007", "consolidated", "operating", "revenues", "from", "continuing", "and", "discontinued", "operations", "of", "$", "2.4 billion", ".", "Through", "its", "utility", "and", "energy", "subsidiaries", ",", "PNM", "Resources", "has", "more", "than", "2,700", "megawatts", "of", "generation", "resources", "and", "serves", "electricity", "to", "approximately", "859,000", "homes", "and", "businesses", "in", "New", "Mexico", "and", "Texas", ".", "The", "company", "also", "has", "a", "50", "-", "percent", "ownership", "of", "EnergyCo", ",", "which", "owns", "approximately", "920", "megawatts", "of", "generation", ".", "For", "more", "information", ",", "visit", "www.PNMResources.com", ".", "CONTACTS", ":", "Analysts", "Analysts", "&", "Media", "Gina", "Jacobi", ",", "(", "505", ")", "241", "-", "2211", "Frederick", "Bermudez", ",", "(", "505", ")", "241", "-", "4831", "(", "END", ")", "1", "-", "29", "-", "09", "1", ":", "15", "pm" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Generic_Info.ANNUAL_REVENUES", "I-Generic_Info.ANNUAL_REVENUES", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
85704-000114544311001152-d28849_ex99-1
EX-99.1 2 d28849_ex99-1.htm EX-99.1 Converted by EDGARwiz Exhibit 99.1 FOR IMMEDIATE RELEASE November 7, 2011 Contact: John B. Woodlief Vice President - Finance and Chief Financial Officer 704-372-5404 Ruddick Corporation Completes Sale of its American & Efird Business to KPS Capital Partners, LP CHARLOTTE, N.C.-November 7, 2011--Ruddick Corporation (NYSE: RDK) (the "Company") announced today that it has completed the previously announced sale to two newly formed affiliates of KPS Capital Partners, LP of all of the Company's ownership interest in its American & Efird business, for $180 million in cash consideration, subject to adjustments for working capital and certain liabilities, including under funded pension liability and foreign debt as previously disclosed. Ruddick Corporation is the parent company of Harris Teeter, Inc., a leading regional supermarket chain with operations in eight states primarily in the southeastern and mid-Atlantic United States, and the District of Columbia. ### For more information on Ruddick Corporation, visit our web site at: www.ruddickcorp.com.
[ "EX", "-", "99", ".", "1", "2", "d28849", "_", "ex99", "-", "1", ".", "htm", "EX", "-", "99", ".", "1", "Converted", "by", "EDGARwiz", "Exhibit", "99", ".", "1", "FOR", "IMMEDIATE", "RELEASE", "November", "7", ",", "2011", "Contact", ":", "John", "B", ".", "Woodlief", "Vice", "President", "-", "Finance", "and", "Chief", "Financial", "Officer", "704", "-", "372", "-", "5404", "Ruddick", "Corporation", "Completes", "Sale", "of", "its", "American", "&", "Efird", "Business", "to", "KPS", "Capital", "Partners", ",", "LP", "CHARLOTTE", ",", "N", ".", "C", ".", "-", "November", "7", ",", "2011", "--", "Ruddick", "Corporation", "(", "NYSE", ":", "RDK", ")", "(", "the", "\"", "Company", "\"", ")", "announced", "today", "that", "it", "has", "completed", "the", "previously", "announced", "sale", "to", "two", "newly", "formed", "affiliates", "of", "KPS", "Capital", "Partners", ",", "LP", "of", "all", "of", "the", "Company", "'s", "ownership", "interest", "in", "its", "American", "&", "Efird", "business", ",", "for", "$", "180 million", "in", "cash", "consideration", ",", "subject", "to", "adjustments", "for", "working", "capital", "and", "certain", "liabilities", ",", "including", "under", "funded", "pension", "liability", "and", "foreign", "debt", "as", "previously", "disclosed", ".", "Ruddick", "Corporation", "is", "the", "parent", "company", "of", "Harris", "Teeter", ",", "Inc", ".", ",", "a", "leading", "regional", "supermarket", "chain", "with", "operations", "in", "eight", "states", "primarily", "in", "the", "southeastern", "and", "mid", "-", "Atlantic", "United", "States", ",", "and", "the", "District", "of", "Columbia", ".", "#", "#", "#", "For", "more", "information", "on", "Ruddick", "Corporation", ",", "visit", "our", "web", "site", "at", ":", "www.ruddickcorp.com", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1295976-000110465907022754-a07-8740_2ex99d1
EX-99.1 9 a07-8740_2ex99d1.htm EX-99.1 Exhibit 99.1 FOR IMMEDIATE RELEASE Cellu Tissue Holdings, Inc. Completes Acquisition of CityForest Corporation Alpharetta, Ga. - March 21, 2007- Cellu Tissue Holdings, Inc. ("Cellu Tissue") announced today that it has consummated the acquisition of CityForest Corporation ("CityForest"). Cellu Tissue-CityForest LLC, the acquired business, is a wholly-owned subsidiary of Cellu Tissue. CityForest is a Ladysmith, Wisconsin-based manufacturer of tissue paper parent rolls for converters that resize and convert the rolls into napkins, towels, bath tissue, specialty medical tissue, industrial wipers and facial tissue. The majority of CityForest's sales are to converters serving the commercial ("away-from-home") market, the consumer ("at-home") market, as well as state and federal government agencies and the medical industry. CityForest is solely focused on manufacturing tissue hard rolls and does not currently convert rolls into finished products. Cellu Tissue manufactures and markets a variety of specialty tissue hard rolls and machine-glazed paper used in the manufacture of various end products, including diapers, facial and bath tissue, assorted paper towels and food wraps. In addition, Cellu Tissue produces a variety of converted tissue products. Cellu Tissue's customers include major North American producers of branded and unbranded disposable consumer absorbent and tissue products for the personal and health care markets; consumer and away-from-home tissue products companies; national and regional tissue products distributors; and third-party converters who sell their products to food, bakery and confections companies. Cellu Tissue services a diverse group of high-quality customers, with three of its top 10 customers belonging to the Fortune 150 group of companies. The statements contained in this release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended including statements regarding the expected timing, completion and effects of the proposed acquisition. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the following cautionary statements. All forward-looking statements included in this document are based upon information available to Cellu Tissue as of the date hereof, and Cellu Tissue assumes no obligation to update any such forward-looking statement. Cellu Tissue cautions you that any forward looking information is based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Factors that may affect the business or financial results of Cellu Tissue are described in Cellu Tissue's filings with the SEC, including in its annual report on Form 10-K for the fiscal year ended February 28, 2006. * * * * *
[ "EX", "-", "99", ".", "1", "9", "a07", "-", "8740", "_", "2ex99d1", ".", "htm", "EX", "-", "99", ".", "1", "Exhibit", "99", ".", "1", "FOR", "IMMEDIATE", "RELEASE", "Cellu", "Tissue", "Holdings", ",", "Inc", ".", "Completes", "Acquisition", "of", "CityForest", "Corporation", "Alpharetta", ",", "Ga", ".", "-", "March", "21", ",", "2007", "-", "Cellu", "Tissue", "Holdings", ",", "Inc", ".", "(", "\"", "Cellu", "Tissue", "\"", ")", "announced", "today", "that", "it", "has", "consummated", "the", "acquisition", "of", "CityForest", "Corporation", "(", "\"", "CityForest", "\"", ")", ".", "Cellu", "Tissue", "-", "CityForest", "LLC", ",", "the", "acquired", "business", ",", "is", "a", "wholly", "-", "owned", "subsidiary", "of", "Cellu", "Tissue", ".", "CityForest", "is", "a", "Ladysmith", ",", "Wisconsin", "-", "based", "manufacturer", "of", "tissue", "paper", "parent", "rolls", "for", "converters", "that", "resize", "and", "convert", "the", "rolls", "into", "napkins", ",", "towels", ",", "bath", "tissue", ",", "specialty", "medical", "tissue", ",", "industrial", "wipers", "and", "facial", "tissue", ".", "The", "majority", "of", "CityForest", "'s", "sales", "are", "to", "converters", "serving", "the", "commercial", "(", "\"", "away", "-", "from", "-", "home", "\"", ")", "market", ",", "the", "consumer", "(", "\"", "at", "-", "home", "\"", ")", "market", ",", "as", "well", "as", "state", "and", "federal", "government", "agencies", "and", "the", "medical", "industry", ".", "CityForest", "is", "solely", "focused", "on", "manufacturing", "tissue", "hard", "rolls", "and", "does", "not", "currently", "convert", "rolls", "into", "finished", "products", ".", "Cellu", "Tissue", "manufactures", "and", "markets", "a", "variety", "of", "specialty", "tissue", "hard", "rolls", "and", "machine", "-", "glazed", "paper", "used", "in", "the", "manufacture", "of", "various", "end", "products", ",", "including", "diapers", ",", "facial", "and", "bath", "tissue", ",", "assorted", "paper", "towels", "and", "food", "wraps", ".", "In", "addition", ",", "Cellu", "Tissue", "produces", "a", "variety", "of", "converted", "tissue", "products", ".", "Cellu", "Tissue", "'s", "customers", "include", "major", "North", "American", "producers", "of", "branded", "and", "unbranded", "disposable", "consumer", "absorbent", "and", "tissue", "products", "for", "the", "personal", "and", "health", "care", "markets", ";", "consumer", "and", "away", "-", "from", "-", "home", "tissue", "products", "companies", ";", "national", "and", "regional", "tissue", "products", "distributors", ";", "and", "third", "-", "party", "converters", "who", "sell", "their", "products", "to", "food", ",", "bakery", "and", "confections", "companies", ".", "Cellu", "Tissue", "services", "a", "diverse", "group", "of", "high", "-", "quality", "customers", ",", "with", "three", "of", "its", "top", "10", "customers", "belonging", "to", "the", "Fortune", "150", "group", "of", "companies", ".", "The", "statements", "contained", "in", "this", "release", "that", "are", "not", "purely", "historical", "are", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "Section", "21E", "of", "the", "Securities", "Exchange", "Act", "of", "1934", ",", "as", "amended", "including", "statements", "regarding", "the", "expected", "timing", ",", "completion", "and", "effects", "of", "the", "proposed", "acquisition", ".", "Readers", "are", "cautioned", "not", "to", "place", "undue", "reliance", "on", "these", "forward", "-", "looking", "statements", "and", "any", "such", "forward", "-", "looking", "statements", "are", "qualified", "in", "their", "entirety", "by", "reference", "to", "the", "following", "cautionary", "statements", ".", "All", "forward", "-", "looking", "statements", "included", "in", "this", "document", "are", "based", "upon", "information", "available", "to", "Cellu", "Tissue", "as", "of", "the", "date", "hereof", ",", "and", "Cellu", "Tissue", "assumes", "no", "obligation", "to", "update", "any", "such", "forward", "-", "looking", "statement", ".", "Cellu", "Tissue", "cautions", "you", "that", "any", "forward", "looking", "information", "is", "based", "on", "current", "expectations", "and", "involve", "a", "number", "of", "assumptions", ",", "risks", "and", "uncertainties", "that", "could", "cause", "the", "actual", "results", "to", "differ", "materially", "from", "such", "forward", "-", "looking", "statements", ".", "Factors", "that", "may", "affect", "the", "business", "or", "financial", "results", "of", "Cellu", "Tissue", "are", "described", "in", "Cellu", "Tissue", "'s", "filings", "with", "the", "SEC", ",", "including", "in", "its", "annual", "report", "on", "Form", "10", "-", "K", "for", "the", "fiscal", "year", "ended", "February", "28", ",", "2006", ".", "*", "*", "*", "*", "*" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
934549-000101968712000126-acacia_8k-ex9901
EX-99.1 2 acacia_8k-ex9901.htm EXHIBIT 99.01 acacia_8k-ex9901.htm Exhibit 99.1 Contacts: Rob Stewart Media Contact: Adam Handelsman Investor Relations Managing Director Tel (949) 480-8300 Lippert/Heilshorn & Associates Fax (949) 480-8301 (212) 201-6622 [email protected] FOR RELEASE January 13, 2012 ACACIA SUBSIDIARY ACQUIRES ADAPTIX, A PIONEER IN 4G WIRELESS TECHNOLOGY, FOR $160 MILLION Newport Beach, CA. - (BUSINESS WIRE) January 13, 2012 - Acacia Research Corporation (Nasdaq:ACTG) announced today that its subsidiary has acquired ADAPTIX, Inc., a pioneer in the development of 4G technologies for wireless systems, for $160 million. ADAPTIX, Inc., which has $10 million in cash, is an award-winning technology company long recognized in the industry as one of the first developers of cutting edge 4G wireless systems. With patents filed as early as 2000, ADAPTIX's research and development efforts have resulted in one of the world's most significant intellectual property portfolios focused on 4G technologies. With its rapidly growing portfolio of 230 issued and pending patents in 13 countries, ADAPTIX's innovations extend across a broad range of 4G technologies including OFDMA and MIMO. "ADAPTIX has been on the forefront of developing next-generation wireless communications for the past 11 years", commented Acacia CEO, Paul Ryan, "and Acacia's acquisition provides our shareholders with a great opportunity to participate in the worldwide growth of 4G wireless technologies as Acacia continues to expand its patent licensing business". ABOUT ACACIA RESEARCH CORPORATION Acacia Research Corporation's subsidiaries partner with inventors and patent owners, license the patents to corporate users, and share the revenue. Acacia Research Corporation's subsidiaries control over 200 patent portfolios, covering technologies used in a wide variety of industries. Information about Acacia Research Corporation and its subsidiaries is available at www.acaciaresearchgroup.com , www.acaciaresearch.com , and www.ADAPTIX.com . Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including the statements made by Paul Ryan relating to the growth of 4G wireless technologies. These statements are based upon our current expectations and speak only as of the date hereof. Our ability to become the licensing partner for companies, expand our patent licensing business, and participate in the growth of 4G wireless technologies, may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the adoption of any such technologies in the relevant marketplaces worldwide, the ability to successfully develop licensing programs in the areas of 4G and related technologies, rapid technological change in relevant markets, changes in demand for current and future intellectual property rights, legislative, regulatory and competitive developments addressing licensing and enforcement of patents and/or intellectual property in general, the recent economic slowdown affecting technology companies, and general economic conditions. Our Annual Report on Form 10-K, recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports on Forms 8-K and 8-K/A, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason. 2
[ "EX", "-", "99", ".", "1", "2", "acacia", "_", "8k", "-", "ex9901", ".", "htm", "EXHIBIT", "99", ".", "01", "acacia", "_", "8k", "-", "ex9901", ".", "htm", "Exhibit", "99", ".", "1", "Contacts", ":", "Rob", "Stewart", "Media", "Contact", ":", "Adam", "Handelsman", "Investor", "Relations", "Managing", "Director", "Tel", "(", "949", ")", "480", "-", "8300", "Lippert", "/", "Heilshorn", "&", "Associates", "Fax", "(", "949", ")", "480", "-", "8301", "(", "212", ")", "201", "-", "6622", "[email protected]", "FOR", "RELEASE", "January", "13", ",", "2012", "ACACIA", "SUBSIDIARY", "ACQUIRES", "ADAPTIX", ",", "A", "PIONEER", "IN", "4G", "WIRELESS", "TECHNOLOGY", ",", "FOR", "$", "160 MILLION", "Newport", "Beach", ",", "CA", ".", "-", "(", "BUSINESS", "WIRE", ")", "January", "13", ",", "2012", "-", "Acacia", "Research", "Corporation", "(", "Nasdaq", ":", "ACTG", ")", "announced", "today", "that", "its", "subsidiary", "has", "acquired", "ADAPTIX", ",", "Inc", ".", ",", "a", "pioneer", "in", "the", "development", "of", "4G", "technologies", "for", "wireless", "systems", ",", "for", "$", "160 million", ".", "ADAPTIX", ",", "Inc", ".", ",", "which", "has", "$", "10 million", "in", "cash", ",", "is", "an", "award", "-", "winning", "technology", "company", "long", "recognized", "in", "the", "industry", "as", "one", "of", "the", "first", "developers", "of", "cutting", "edge", "4G", "wireless", "systems", ".", "With", "patents", "filed", "as", "early", "as", "2000", ",", "ADAPTIX", "'s", "research", "and", "development", "efforts", "have", "resulted", "in", "one", "of", "the", "world", "'s", "most", "significant", "intellectual", "property", "portfolios", "focused", "on", "4G", "technologies", ".", "With", "its", "rapidly", "growing", "portfolio", "of", "230", "issued", "and", "pending", "patents", "in", "13", "countries", ",", "ADAPTIX", "'s", "innovations", "extend", "across", "a", "broad", "range", "of", "4G", "technologies", "including", "OFDMA", "and", "MIMO", ".", "\"", "ADAPTIX", "has", "been", "on", "the", "forefront", "of", "developing", "next", "-", "generation", "wireless", "communications", "for", "the", "past", "11", "years", "\"", ",", "commented", "Acacia", "CEO", ",", "Paul", "Ryan", ",", "\"", "and", "Acacia", "'s", "acquisition", "provides", "our", "shareholders", "with", "a", "great", "opportunity", "to", "participate", "in", "the", "worldwide", "growth", "of", "4G", "wireless", "technologies", "as", "Acacia", "continues", "to", "expand", "its", "patent", "licensing", "business", "\"", ".", "ABOUT", "ACACIA", "RESEARCH", "CORPORATION", "Acacia", "Research", "Corporation", "'s", "subsidiaries", "partner", "with", "inventors", "and", "patent", "owners", ",", "license", "the", "patents", "to", "corporate", "users", ",", "and", "share", "the", "revenue", ".", "Acacia", "Research", "Corporation", "'s", "subsidiaries", "control", "over", "200", "patent", "portfolios", ",", "covering", "technologies", "used", "in", "a", "wide", "variety", "of", "industries", ".", "Information", "about", "Acacia", "Research", "Corporation", "and", "its", "subsidiaries", "is", "available", "at", "www.acaciaresearchgroup.com", ",", "www.acaciaresearch.com", ",", "and", "www.ADAPTIX.com", ".", "Safe", "Harbor", "Statement", "under", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", "This", "news", "release", "contains", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "the", "\"", "safe", "harbor", "\"", "provisions", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ",", "including", "the", "statements", "made", "by", "Paul", "Ryan", "relating", "to", "the", "growth", "of", "4G", "wireless", "technologies", ".", "These", "statements", "are", "based", "upon", "our", "current", "expectations", "and", "speak", "only", "as", "of", "the", "date", "hereof", ".", "Our", "ability", "to", "become", "the", "licensing", "partner", "for", "companies", ",", "expand", "our", "patent", "licensing", "business", ",", "and", "participate", "in", "the", "growth", "of", "4G", "wireless", "technologies", ",", "may", "differ", "materially", "and", "adversely", "from", "those", "expressed", "in", "any", "forward", "-", "looking", "statements", "as", "a", "result", "of", "various", "factors", "and", "uncertainties", ",", "including", "the", "adoption", "of", "any", "such", "technologies", "in", "the", "relevant", "marketplaces", "worldwide", ",", "the", "ability", "to", "successfully", "develop", "licensing", "programs", "in", "the", "areas", "of", "4G", "and", "related", "technologies", ",", "rapid", "technological", "change", "in", "relevant", "markets", ",", "changes", "in", "demand", "for", "current", "and", "future", "intellectual", "property", "rights", ",", "legislative", ",", "regulatory", "and", "competitive", "developments", "addressing", "licensing", "and", "enforcement", "of", "patents", "and", "/", "or", "intellectual", "property", "in", "general", ",", "the", "recent", "economic", "slowdown", "affecting", "technology", "companies", ",", "and", "general", "economic", "conditions", ".", "Our", "Annual", "Report", "on", "Form", "10", "-", "K", ",", "recent", "and", "forthcoming", "Quarterly", "Reports", "on", "Form", "10", "-", "Q", ",", "recent", "Current", "Reports", "on", "Forms", "8", "-", "K", "and", "8", "-", "K", "/", "A", ",", "and", "other", "SEC", "filings", "discuss", "some", "of", "the", "important", "risk", "factors", "that", "may", "affect", "our", "business", ",", "results", "of", "operations", "and", "financial", "condition", ".", "We", "undertake", "no", "obligation", "to", "revise", "or", "update", "publicly", "any", "forward", "-", "looking", "statements", "for", "any", "reason", ".", "2" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1537169-000121465917005272-ex99_1
EX-99.1 3 ex99_1.htm EXHIBIT 99.1 Exhibit 99.1 SOURCE: Avalanche International Corp August 24, 2017 06:00 ET Avalanche International Corp Purchases Owner of Disruptive MLSE® Textile Technology Company Concludes Stock Acquisition of MTIX, Ltd., Files for Name Change to MTIX International, Inc. LAS VEGAS, NV--(Marketwired - August 24, 2017) - Avalanche International, Corp (OTC: AVLP) announced today that it has concluded its purchase of MTIX, Ltd. through a stock exchange agreement ("Exchange"). MTIX, Ltd., is the owner and worldwide licensor of the Multiplexed Laser Surface Enhancement (MLSE®), a proprietary and unique technology that can treat both natural and synthetic textiles for a wide variety of functionalities. The MLSE® textile technology is very diverse in its depth and breadth of treatments across the textile industry with its uses ranging from fabric preparation, dyeability and printing enhancements, hydrophilicity, hydrophobicity to fire retardancy and anti-microbial properties. The use of water, harmful chemicals and energy are significantly reduced in comparison to conventional textile treatment methods. The MLSE® process is instantaneous in the reaction zone, due to rapid reaction synthesis for any required functional properties. The combination of plasma and photonic energy enables material synthesis in and/or on the surface of a substrate. The MLSE® process has been developed working with major textile manufacturers in the UK, Europe and international customers and working with real time processes for these performance enhancements. The transaction, was previously announced through its 8-K report dated March 3, 2017 as filed on March 9, 2017 and amended on July 13, 2017 as filed on July 17, 2017. The Company stated that in conjunction with this recent transaction, it has filed for a name and symbol change with FINRA with approval pending. The Company reminds shareholders and investors that its financials are not current and is working as quickly as possible with its auditors towards having all its public filings current soon. The Company recommends any investors to read its 8-K and other public reports and financials filed with the Securities and Exchange Commission for further information. All public filings, financials and other information are available on the Company's web site as well as on http://www.sec.gov, www.OTCMarkets.com and many other financial news reporting web sites and portals. The Company's web domain is www.AvalancheInternationalCorp.com. About Avalanche International Corp. Avalanche International, Corp is a Nevada corporation and holding company, publicly traded on the OTC Markets platform. The Company is focused on creating superior long-term returns for shareholders through a unique structure of diversified holdings and currently has two operational wholly-owned subsidiaries, Restaurant Capital Group, LLC and MTIX, Ltd. The Company has selected a mergers and acquisitions strategy as its primary growth driver for the foreseeable future leveraging the Wall Street and activist background of its Chairman along with the vast corporate integration and management talents of its President and CEO. About MTIX, Ltd. MTIX Ltd is an advanced materials and processing technology company located in Huddersfield, West Yorkshire, UK. The company has developed a novel cost effective and environmentally friendly material synthesis technology for textile applications, Multiplexed Laser Surface Enhancement (MLSE®). MLSE® is a proprietary and unique technology that has the ability to treat both natural and synthetic textiles for a wide variety of functionalities. These include dyeability and printing enhancements, hydrophilicity, hydrophobicity, fire retardancy and anti-microbial properties. The use of water, harmful chemicals and energy is significantly reduced in comparison to conventional textile treatment methods. The MLSE® process is instantaneous in the reaction zone, due to rapid reaction synthesis for any required functional properties. For more information, visit their URL, http://mti-x.com. Forward-looking & Safe Harbor Statement Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and those statements are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company cautions that these forward-looking statements are further qualified by other factors. The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise. Company Website: www.AvalancheInternationalCorp.com Subsidiary Websites: http://mti-x.com; www.RestaurantCapitalGroup.net Embedded Video Available: https://www.youtube.com/watch?v=st3ws0iq0O0&feature=youtu.be CONTACT INFORMATION · Investor Inquiries: Avalanche International Corp E-Mail: [email protected]
[ "EX", "-", "99", ".", "1", "3", "ex99", "_", "1", ".", "htm", "EXHIBIT", "99", ".", "1", "Exhibit", "99", ".", "1", "SOURCE", ":", "Avalanche", "International", "Corp", "August", "24", ",", "2017", "06", ":", "00", "ET", "Avalanche", "International", "Corp", "Purchases", "Owner", "of", "Disruptive", "MLSE", "®", "Textile", "Technology", "Company", "Concludes", "Stock", "Acquisition", "of", "MTIX", ",", "Ltd", ".", ",", "Files", "for", "Name", "Change", "to", "MTIX", "International", ",", "Inc", ".", "LAS", "VEGAS", ",", "NV", "--", "(", "Marketwired", "-", "August", "24", ",", "2017", ")", "-", "Avalanche", "International", ",", "Corp", "(", "OTC", ":", "AVLP", ")", "announced", "today", "that", "it", "has", "concluded", "its", "purchase", "of", "MTIX", ",", "Ltd", ".", "through", "a", "stock", "exchange", "agreement", "(", "\"", "Exchange", "\"", ")", ".", "MTIX", ",", "Ltd", ".", ",", "is", "the", "owner", "and", "worldwide", "licensor", "of", "the", "Multiplexed", "Laser", "Surface", "Enhancement", "(", "MLSE", "®", ")", ",", "a", "proprietary", "and", "unique", "technology", "that", "can", "treat", "both", "natural", "and", "synthetic", "textiles", "for", "a", "wide", "variety", "of", "functionalities", ".", "The", "MLSE", "®", "textile", "technology", "is", "very", "diverse", "in", "its", "depth", "and", "breadth", "of", "treatments", "across", "the", "textile", "industry", "with", "its", "uses", "ranging", "from", "fabric", "preparation", ",", "dyeability", "and", "printing", "enhancements", ",", "hydrophilicity", ",", "hydrophobicity", "to", "fire", "retardancy", "and", "anti", "-", "microbial", "properties", ".", "The", "use", "of", "water", ",", "harmful", "chemicals", "and", "energy", "are", "significantly", "reduced", "in", "comparison", "to", "conventional", "textile", "treatment", "methods", ".", "The", "MLSE", "®", "process", "is", "instantaneous", "in", "the", "reaction", "zone", ",", "due", "to", "rapid", "reaction", "synthesis", "for", "any", "required", "functional", "properties", ".", "The", "combination", "of", "plasma", "and", "photonic", "energy", "enables", "material", "synthesis", "in", "and", "/", "or", "on", "the", "surface", "of", "a", "substrate", ".", "The", "MLSE", "®", "process", "has", "been", "developed", "working", "with", "major", "textile", "manufacturers", "in", "the", "UK", ",", "Europe", "and", "international", "customers", "and", "working", "with", "real", "time", "processes", "for", "these", "performance", "enhancements", ".", "The", "transaction", ",", "was", "previously", "announced", "through", "its", "8", "-", "K", "report", "dated", "March", "3", ",", "2017", "as", "filed", "on", "March", "9", ",", "2017", "and", "amended", "on", "July", "13", ",", "2017", "as", "filed", "on", "July", "17", ",", "2017", ".", "The", "Company", "stated", "that", "in", "conjunction", "with", "this", "recent", "transaction", ",", "it", "has", "filed", "for", "a", "name", "and", "symbol", "change", "with", "FINRA", "with", "approval", "pending", ".", "The", "Company", "reminds", "shareholders", "and", "investors", "that", "its", "financials", "are", "not", "current", "and", "is", "working", "as", "quickly", "as", "possible", "with", "its", "auditors", "towards", "having", "all", "its", "public", "filings", "current", "soon", ".", "The", "Company", "recommends", "any", "investors", "to", "read", "its", "8", "-", "K", "and", "other", "public", "reports", "and", "financials", "filed", "with", "the", "Securities", "and", "Exchange", "Commission", "for", "further", "information", ".", "All", "public", "filings", ",", "financials", "and", "other", "information", "are", "available", "on", "the", "Company", "'s", "web", "site", "as", "well", "as", "on", "http://www.sec.gov", ",", "www.OTCMarkets.com", "and", "many", "other", "financial", "news", "reporting", "web", "sites", "and", "portals", ".", "The", "Company", "'s", "web", "domain", "is", "www.AvalancheInternationalCorp.com", ".", "About", "Avalanche", "International", "Corp", ".", "Avalanche", "International", ",", "Corp", "is", "a", "Nevada", "corporation", "and", "holding", "company", ",", "publicly", "traded", "on", "the", "OTC", "Markets", "platform", ".", "The", "Company", "is", "focused", "on", "creating", "superior", "long", "-", "term", "returns", "for", "shareholders", "through", "a", "unique", "structure", "of", "diversified", "holdings", "and", "currently", "has", "two", "operational", "wholly", "-", "owned", "subsidiaries", ",", "Restaurant", "Capital", "Group", ",", "LLC", "and", "MTIX", ",", "Ltd", ".", "The", "Company", "has", "selected", "a", "mergers", "and", "acquisitions", "strategy", "as", "its", "primary", "growth", "driver", "for", "the", "foreseeable", "future", "leveraging", "the", "Wall", "Street", "and", "activist", "background", "of", "its", "Chairman", "along", "with", "the", "vast", "corporate", "integration", "and", "management", "talents", "of", "its", "President", "and", "CEO", ".", "About", "MTIX", ",", "Ltd", ".", "MTIX", "Ltd", "is", "an", "advanced", "materials", "and", "processing", "technology", "company", "located", "in", "Huddersfield", ",", "West", "Yorkshire", ",", "UK", ".", "The", "company", "has", "developed", "a", "novel", "cost", "effective", "and", "environmentally", "friendly", "material", "synthesis", "technology", "for", "textile", "applications", ",", "Multiplexed", "Laser", "Surface", "Enhancement", "(", "MLSE", "®", ")", ".", "MLSE", "®", "is", "a", "proprietary", "and", "unique", "technology", "that", "has", "the", "ability", "to", "treat", "both", "natural", "and", "synthetic", "textiles", "for", "a", "wide", "variety", "of", "functionalities", ".", "These", "include", "dyeability", "and", "printing", "enhancements", ",", "hydrophilicity", ",", "hydrophobicity", ",", "fire", "retardancy", "and", "anti", "-", "microbial", "properties", ".", "The", "use", "of", "water", ",", "harmful", "chemicals", "and", "energy", "is", "significantly", "reduced", "in", "comparison", "to", "conventional", "textile", "treatment", "methods", ".", "The", "MLSE", "®", "process", "is", "instantaneous", "in", "the", "reaction", "zone", ",", "due", "to", "rapid", "reaction", "synthesis", "for", "any", "required", "functional", "properties", ".", "For", "more", "information", ",", "visit", "their", "URL", ",", "http://mti-x.com", ".", "Forward", "-", "looking", "&", "Safe", "Harbor", "Statement", "Certain", "statements", "in", "this", "news", "release", "may", "contain", "forward", "-", "looking", "information", "within", "the", "meaning", "of", "Rule", "175", "under", "the", "Securities", "Act", "of", "1933", "and", "Rule", "3b", "-", "6", "under", "the", "Securities", "Exchange", "Act", "of", "1934", ",", "and", "those", "statements", "are", "subject", "to", "the", "safe", "harbor", "created", "by", "those", "rules", ".", "All", "statements", ",", "other", "than", "statements", "of", "fact", ",", "included", "in", "this", "release", ",", "including", ",", "without", "limitation", ",", "statements", "regarding", "potential", "plans", "and", "objectives", "of", "the", "Company", ",", "are", "forward", "-", "looking", "statements", "that", "involve", "risks", "and", "uncertainties", ".", "There", "can", "be", "no", "assurance", "that", "such", "statements", "will", "prove", "to", "be", "accurate", "and", "actual", "results", "and", "future", "events", "could", "differ", "materially", "from", "those", "anticipated", "in", "such", "statements", ".", "The", "Company", "cautions", "that", "these", "forward", "-", "looking", "statements", "are", "further", "qualified", "by", "other", "factors", ".", "The", "Company", "undertakes", "no", "obligation", "to", "publicly", "update", "or", "revise", "any", "statements", "in", "this", "release", ",", "whether", "as", "a", "result", "of", "new", "information", ",", "future", "events", "or", "otherwise", ".", "Company", "Website", ":", "www.AvalancheInternationalCorp.com", "Subsidiary", "Websites", ":", "http://mti-x.com", ";", "www.RestaurantCapitalGroup.net", "Embedded", "Video", "Available", ":", "https://www.youtube.com/watch?v=st3ws0iq0O0&feature=youtu.be", "CONTACT", "INFORMATION", "·", "Investor", "Inquiries", ":", "Avalanche", "International", "Corp", "E", "-", "Mail", ":", "[email protected]" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
310568-000157104916010795-t1600152_ex99-2
EX-99.2 6 t1600152_ex99-2.htm EXHIBIT 99.2 Exhibit 99.2 MICROSEMI FINANCIAL CONTACT: John W. Hohener Executive Vice President and CFO Phone: (949) 380-6100 MICROSEMI INVESTOR CONTACT: Robert C. Adams Vice President of Corporate Development Phone: (949) 380-6100 Microsemi Corporation Completes Acquisition of PMC-Sierra, Inc. ALISO VIEJO, California-Jan. 15, 2016-Microsemi Corporation (Nasdaq: MSCC) ("Microsemi"), a leading provider of semiconductor solutions differentiated by power, security, reliability and performance, announced today that Microsemi's wholly-owned subsidiary Lois Acquisition Corp. successfully merged with and into PMC-Sierra, Inc. (Nasdaq: PMCS) ("PMC"), completing Microsemi's acquisition of PMC. Under Section 251(h) of the General Corporation Law of the State of Delaware, no vote of PMC's stockholders was required to consummate the merger. At the effective time of the merger, each outstanding share of PMC common stock (other than shares directly owned by PMC, Microsemi, Lois Acquisition Corp. or any other subsidiary of Microsemi and shares held by PMC stockholders that are entitled to and have properly demanded appraisal of such shares under Delaware law) was converted into the right to receive $9.22 in cash and 0.0771 shares of Microsemi common stock, together with cash in lieu of any fractional shares of Microsemi common stock, without interest and less any applicable withholding taxes, the same price received by PMC stockholders who validly tendered their shares in the related exchange offer. Following the merger, PMC shares will cease to be traded on Nasdaq. "We are pleased to complete the acquisition of PMC-Sierra," said James J. Peterson, Microsemi's chairman and CEO. "PMC's innovative semiconductor and software solutions are transforming the networks that connect, move and store big data. As we integrate we will leverage its industry-leading talent base and product portfolio, driving the combined company's next wave of innovation and securing our standing as a semiconductor industry leader". About Microsemi Microsemi Corporation (Nasdaq: MSCC) offers a comprehensive portfolio of semiconductor and system solutions for communications, defense & security, aerospace and industrial markets. Products include high-performance and radiation-hardened analog mixed-signal integrated circuits, FPGAs, SoCs and ASICs; power management products; timing and synchronization devices and precise time solutions, setting the world's standard for time; voice processing devices; RF solutions; discrete components; security technologies and scalable anti-tamper products; Ethernet solutions; Power-over-Ethernet ICs and midspans; as well as custom design capabilities and services. Microsemi is headquartered in Aliso Viejo, Calif., and has approximately 3,600 employees globally. Learn more at www.microsemi.com . # # # Microsemi and the Microsemi logo are registered trademarks or service marks of Microsemi Corporation and/or its affiliates. Third-party trademarks and service marks mentioned herein are the property of their respective owners. Forward-Looking Statements This release contains forward-looking statements based on current expectations or beliefs, as well as a number of assumptions about future events, and these statements are subject to factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These forward-looking statements are not a guarantee of future performance and are subject to a number of uncertainties and other factors, many of which are outside the control of Microsemi. The forward-looking statements in this release address a variety of subjects including, for example, statements regarding the potential benefits (including the potentially accretive and synergistic benefits) of Microsemi's acquisition of PMC-Sierra Inc. ("PMC"), Microsemi's expected future performance (including expected results of operations and financial guidance), and the combined company's future financial condition, operating results, strategy and plans. Statements including words such as "believes", "expects", "anticipates," "intends", "estimates", "plan", "will", "may", "look forward," "intend", "guidance", "future" or similar expressions are forward-looking statements. Potential risks and uncertainties include, but are not limited to, such factors as the ultimate outcome and results of integrating the operations of Microsemi and PMC, the ultimate outcome of Microsemi's operating strategy applied to PMC and the ultimate ability to realize synergies; the effects of the business combination of Microsemi and PMC, including the combined company's future financial condition, operating results, strategy and plans; negative or worsening worldwide economic conditions or market instability; downturns in the highly cyclical semiconductor industry; our ability to successfully implement our acquisitions strategy or integrate other acquired companies; uncertainty as to the future profitability of acquired businesses, and delays in the realization of, or the failure to realize, any accretion from acquisition transactions; acquiring, managing and integrating new operations, businesses or assets, and the associated diversion of management attention or other related costs or difficulties; Microsemi's reliance on government contracts for a significant portion of its sales, including impacts of any termination or renegotiation of such contracts, uncertainties of governmental appropriations and national defense policies and priorities and effects of any past or future government shutdowns; risks related to the company's international operations and sales, including political instability, trade restrictions and sanctions, restrictions in the transfer or repatriation of funds, currency fluctuations and availability of transportation services; potential non-realization of expected orders or non-realization of backlog; failure to make sales indicated by the company's book-to-bill ratio; intense competition in the semiconductor industry and resultant downward price pressure; the effect of events such as natural disasters and related disruptions on our operations; the concentration of the factories that service the semiconductor industry; delays in beginning production, implementing production techniques, resolving problems associated with technical equipment malfunctions, or issues related to government or customer qualification of facilities; our dependence on third parties for key functions; increases in the costs of credit and the availability of credit or additional capital only under more restrictive conditions or not at all; changes to laws or regulations; unanticipated changes in Microsemi's tax obligations, results of tax examinations or exposure to additional income tax liabilities; changes in generally accepted accounting principles; principal, liquidity and counterparty risks related to Microsemi's holdings in securities; inability to develop new technologies and products to satisfy changes in customer demand or the development by the company's competitors of products that decrease the demand for Microsemi's products; unfavorable or declining conditions in end markets; inability of Microsemi's compound semiconductor products to compete successfully with silicon-based products; production delays related to new compound semiconductors; variability of the company's manufacturing yields; potential effects of system outages; inability by Microsemi to fulfill customer demand and resulting loss of customers; variations in customer order preferences; difficulties foreseeing future demand; rises in inventory levels and inventory obsolescence; environmental or other regulatory matters or litigation, or any matters involving contingent liabilities or other claims; the uncertainty of litigation, the costs and expenses of litigation, the potential material adverse effect litigation could have on Microsemi's business and results of operations if an adverse determination in litigation is made, and the time and attention required of management to attend to litigation; difficulties in determining the scope of, and procuring and maintaining, adequate insurance coverage; difficulties and costs of protecting patents and other proprietary rights; the hiring and retention of qualified personnel in a competitive labor market; any circumstances that adversely impact the end markets of acquired businesses; and difficulties in closing or disposing of operations or assets or transferring work, assets or inventory from one plant to another. In addition to these factors and any other factors mentioned elsewhere in this news release, the reader should refer as well to the factors, uncertainties or risks identified in the most recent Form 10-K reports and any subsequent Form 10-Q reports filed by Microsemi or PMC with the SEC. Additional risk factors may be identified from time to time in Microsemi's future filings. The forward-looking statements included in this release speak only as of the date hereof, and Microsemi does not undertake any obligation to update these forward-looking statements to reflect subsequent events or circumstances. Source: Microsemi Corporation
[ "EX", "-", "99", ".", "2", "6", "t1600152", "_", "ex99", "-", "2", ".", "htm", "EXHIBIT", "99", ".", "2", "Exhibit", "99", ".", "2", "MICROSEMI", "FINANCIAL", "CONTACT", ":", "John", "W", ".", "Hohener", "Executive", "Vice", "President", "and", "CFO", "Phone", ":", "(", "949", ")", "380", "-", "6100", "MICROSEMI", "INVESTOR", "CONTACT", ":", "Robert", "C", ".", "Adams", "Vice", "President", "of", "Corporate", "Development", "Phone", ":", "(", "949", ")", "380", "-", "6100", "Microsemi", "Corporation", "Completes", "Acquisition", "of", "PMC", "-", "Sierra", ",", "Inc", ".", "ALISO", "VIEJO", ",", "California", "-", "Jan", ".", "15", ",", "2016", "-", "Microsemi", "Corporation", "(", "Nasdaq", ":", "MSCC", ")", "(", "\"", "Microsemi", "\"", ")", ",", "a", "leading", "provider", "of", "semiconductor", "solutions", "differentiated", "by", "power", ",", "security", ",", "reliability", "and", "performance", ",", "announced", "today", "that", "Microsemi", "'s", "wholly", "-", "owned", "subsidiary", "Lois", "Acquisition", "Corp", ".", "successfully", "merged", "with", "and", "into", "PMC", "-", "Sierra", ",", "Inc", ".", "(", "Nasdaq", ":", "PMCS", ")", "(", "\"", "PMC", "\"", ")", ",", "completing", "Microsemi", "'s", "acquisition", "of", "PMC", ".", "Under", "Section", "251", "(", "h", ")", "of", "the", "General", "Corporation", "Law", "of", "the", "State", "of", "Delaware", ",", "no", "vote", "of", "PMC", "'s", "stockholders", "was", "required", "to", "consummate", "the", "merger", ".", "At", "the", "effective", "time", "of", "the", "merger", ",", "each", "outstanding", "share", "of", "PMC", "common", "stock", "(", "other", "than", "shares", "directly", "owned", "by", "PMC", ",", "Microsemi", ",", "Lois", "Acquisition", "Corp", ".", "or", "any", "other", "subsidiary", "of", "Microsemi", "and", "shares", "held", "by", "PMC", "stockholders", "that", "are", "entitled", "to", "and", "have", "properly", "demanded", "appraisal", "of", "such", "shares", "under", "Delaware", "law", ")", "was", "converted", "into", "the", "right", "to", "receive", "$", "9.22", "in", "cash", "and", "0", ".", "0771", "shares", "of", "Microsemi", "common", "stock", ",", "together", "with", "cash", "in", "lieu", "of", "any", "fractional", "shares", "of", "Microsemi", "common", "stock", ",", "without", "interest", "and", "less", "any", "applicable", "withholding", "taxes", ",", "the", "same", "price", "received", "by", "PMC", "stockholders", "who", "validly", "tendered", "their", "shares", "in", "the", "related", "exchange", "offer", ".", "Following", "the", "merger", ",", "PMC", "shares", "will", "cease", "to", "be", "traded", "on", "Nasdaq", ".", "\"", "We", "are", "pleased", "to", "complete", "the", "acquisition", "of", "PMC", "-", "Sierra", ",", "\"", "said", "James", "J.", "Peterson", ",", "Microsemi", "'s", "chairman", "and", "CEO", ".", "\"", "PMC", "'s", "innovative", "semiconductor", "and", "software", "solutions", "are", "transforming", "the", "networks", "that", "connect", ",", "move", "and", "store", "big", "data", ".", "As", "we", "integrate", "we", "will", "leverage", "its", "industry", "-", "leading", "talent", "base", "and", "product", "portfolio", ",", "driving", "the", "combined", "company", "'s", "next", "wave", "of", "innovation", "and", "securing", "our", "standing", "as", "a", "semiconductor", "industry", "leader", "\"", ".", "About", "Microsemi", "Microsemi", "Corporation", "(", "Nasdaq", ":", "MSCC", ")", "offers", "a", "comprehensive", "portfolio", "of", "semiconductor", "and", "system", "solutions", "for", "communications", ",", "defense", "&", "security", ",", "aerospace", "and", "industrial", "markets", ".", "Products", "include", "high", "-", "performance", "and", "radiation", "-", "hardened", "analog", "mixed", "-", "signal", "integrated", "circuits", ",", "FPGAs", ",", "SoCs", "and", "ASICs", ";", "power", "management", "products", ";", "timing", "and", "synchronization", "devices", "and", "precise", "time", "solutions", ",", "setting", "the", "world", "'", "s", "standard", "for", "time", ";", "voice", "processing", "devices", ";", "RF", "solutions", ";", "discrete", "components", ";", "security", "technologies", "and", "scalable", "anti", "-", "tamper", "products", ";", "Ethernet", "solutions", ";", "Power", "-", "over", "-", "Ethernet", "ICs", "and", "midspans", ";", "as", "well", "as", "custom", "design", "capabilities", "and", "services", ".", "Microsemi", "is", "headquartered", "in", "Aliso", "Viejo", ",", "Calif", ".", ",", "and", "has", "approximately", "3,600", "employees", "globally", ".", "Learn", "more", "at", "www.microsemi.com", ".", "#", "#", "#", "Microsemi", "and", "the", "Microsemi", "logo", "are", "registered", "trademarks", "or", "service", "marks", "of", "Microsemi", "Corporation", "and", "/", "or", "its", "affiliates", ".", "Third", "-", "party", "trademarks", "and", "service", "marks", "mentioned", "herein", "are", "the", "property", "of", "their", "respective", "owners", ".", "Forward", "-", "Looking", "Statements", "This", "release", "contains", "forward", "-", "looking", "statements", "based", "on", "current", "expectations", "or", "beliefs", ",", "as", "well", "as", "a", "number", "of", "assumptions", "about", "future", "events", ",", "and", "these", "statements", "are", "subject", "to", "factors", "and", "uncertainties", "that", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "described", "in", "the", "forward", "-", "looking", "statements", ".", "These", "forward", "-", "looking", "statements", "are", "not", "a", "guarantee", "of", "future", "performance", "and", "are", "subject", "to", "a", "number", "of", "uncertainties", "and", "other", "factors", ",", "many", "of", "which", "are", "outside", "the", "control", "of", "Microsemi", ".", "The", "forward", "-", "looking", "statements", "in", "this", "release", "address", "a", "variety", "of", "subjects", "including", ",", "for", "example", ",", "statements", "regarding", "the", "potential", "benefits", "(", "including", "the", "potentially", "accretive", "and", "synergistic", "benefits", ")", "of", "Microsemi", "'s", "acquisition", "of", "PMC", "-", "Sierra", "Inc", ".", "(", "\"", "PMC", "\"", ")", ",", "Microsemi", "'", "s", "expected", "future", "performance", "(", "including", "expected", "results", "of", "operations", "and", "financial", "guidance", ")", ",", "and", "the", "combined", "company", "'s", "future", "financial", "condition", ",", "operating", "results", ",", "strategy", "and", "plans", ".", "Statements", "including", "words", "such", "as", "\"", "believes", "\"", ",", "\"", "expects", "\"", ",", "\"", "anticipates", ",", "\"", "\"", "intends", "\"", ",", "\"", "estimates", "\"", ",", "\"", "plan", "\"", ",", "\"", "will", "\"", ",", "\"", "may", "\"", ",", "\"", "look", "forward", ",", "\"", "\"", "intend", "\"", ",", "\"", "guidance", "\"", ",", "\"", "future", "\"", "or", "similar", "expressions", "are", "forward", "-", "looking", "statements", ".", "Potential", "risks", "and", "uncertainties", "include", ",", "but", "are", "not", "limited", "to", ",", "such", "factors", "as", "the", "ultimate", "outcome", "and", "results", "of", "integrating", "the", "operations", "of", "Microsemi", "and", "PMC", ",", "the", "ultimate", "outcome", "of", "Microsemi", "'s", "operating", "strategy", "applied", "to", "PMC", "and", "the", "ultimate", "ability", "to", "realize", "synergies", ";", "the", "effects", "of", "the", "business", "combination", "of", "Microsemi", "and", "PMC", ",", "including", "the", "combined", "company", "'s", "future", "financial", "condition", ",", "operating", "results", ",", "strategy", "and", "plans", ";", "negative", "or", "worsening", "worldwide", "economic", "conditions", "or", "market", "instability", ";", "downturns", "in", "the", "highly", "cyclical", "semiconductor", "industry", ";", "our", "ability", "to", "successfully", "implement", "our", "acquisitions", "strategy", "or", "integrate", "other", "acquired", "companies", ";", "uncertainty", "as", "to", "the", "future", "profitability", "of", "acquired", "businesses", ",", "and", "delays", "in", "the", "realization", "of", ",", "or", "the", "failure", "to", "realize", ",", "any", "accretion", "from", "acquisition", "transactions", ";", "acquiring", ",", "managing", "and", "integrating", "new", "operations", ",", "businesses", "or", "assets", ",", "and", "the", "associated", "diversion", "of", "management", "attention", "or", "other", "related", "costs", "or", "difficulties", ";", "Microsemi", "'s", "reliance", "on", "government", "contracts", "for", "a", "significant", "portion", "of", "its", "sales", ",", "including", "impacts", "of", "any", "termination", "or", "renegotiation", "of", "such", "contracts", ",", "uncertainties", "of", "governmental", "appropriations", "and", "national", "defense", "policies", "and", "priorities", "and", "effects", "of", "any", "past", "or", "future", "government", "shutdowns", ";", "risks", "related", "to", "the", "company", "'s", "international", "operations", "and", "sales", ",", "including", "political", "instability", ",", "trade", "restrictions", "and", "sanctions", ",", "restrictions", "in", "the", "transfer", "or", "repatriation", "of", "funds", ",", "currency", "fluctuations", "and", "availability", "of", "transportation", "services", ";", "potential", "non", "-", "realization", "of", "expected", "orders", "or", "non", "-", "realization", "of", "backlog", ";", "failure", "to", "make", "sales", "indicated", "by", "the", "company", "'s", "book", "-", "to", "-", "bill", "ratio", ";", "intense", "competition", "in", "the", "semiconductor", "industry", "and", "resultant", "downward", "price", "pressure", ";", "the", "effect", "of", "events", "such", "as", "natural", "disasters", "and", "related", "disruptions", "on", "our", "operations", ";", "the", "concentration", "of", "the", "factories", "that", "service", "the", "semiconductor", "industry", ";", "delays", "in", "beginning", "production", ",", "implementing", "production", "techniques", ",", "resolving", "problems", "associated", "with", "technical", "equipment", "malfunctions", ",", "or", "issues", "related", "to", "government", "or", "customer", "qualification", "of", "facilities", ";", "our", "dependence", "on", "third", "parties", "for", "key", "functions", ";", "increases", "in", "the", "costs", "of", "credit", "and", "the", "availability", "of", "credit", "or", "additional", "capital", "only", "under", "more", "restrictive", "conditions", "or", "not", "at", "all", ";", "changes", "to", "laws", "or", "regulations", ";", "unanticipated", "changes", "in", "Microsemi", "'s", "tax", "obligations", ",", "results", "of", "tax", "examinations", "or", "exposure", "to", "additional", "income", "tax", "liabilities", ";", "changes", "in", "generally", "accepted", "accounting", "principles", ";", "principal", ",", "liquidity", "and", "counterparty", "risks", "related", "to", "Microsemi", "'s", "holdings", "in", "securities", ";", "inability", "to", "develop", "new", "technologies", "and", "products", "to", "satisfy", "changes", "in", "customer", "demand", "or", "the", "development", "by", "the", "company", "'s", "competitors", "of", "products", "that", "decrease", "the", "demand", "for", "Microsemi", "'s", "products", ";", "unfavorable", "or", "declining", "conditions", "in", "end", "markets", ";", "inability", "of", "Microsemi", "'s", "compound", "semiconductor", "products", "to", "compete", "successfully", "with", "silicon", "-", "based", "products", ";", "production", "delays", "related", "to", "new", "compound", "semiconductors", ";", "variability", "of", "the", "company", "'s", "manufacturing", "yields", ";", "potential", "effects", "of", "system", "outages", ";", "inability", "by", "Microsemi", "to", "fulfill", "customer", "demand", "and", "resulting", "loss", "of", "customers", ";", "variations", "in", "customer", "order", "preferences", ";", "difficulties", "foreseeing", "future", "demand", ";", "rises", "in", "inventory", "levels", "and", "inventory", "obsolescence", ";", "environmental", "or", "other", "regulatory", "matters", "or", "litigation", ",", "or", "any", "matters", "involving", "contingent", "liabilities", "or", "other", "claims", ";", "the", "uncertainty", "of", "litigation", ",", "the", "costs", "and", "expenses", "of", "litigation", ",", "the", "potential", "material", "adverse", "effect", "litigation", "could", "have", "on", "Microsemi", "'s", "business", "and", "results", "of", "operations", "if", "an", "adverse", "determination", "in", "litigation", "is", "made", ",", "and", "the", "time", "and", "attention", "required", "of", "management", "to", "attend", "to", "litigation", ";", "difficulties", "in", "determining", "the", "scope", "of", ",", "and", "procuring", "and", "maintaining", ",", "adequate", "insurance", "coverage", ";", "difficulties", "and", "costs", "of", "protecting", "patents", "and", "other", "proprietary", "rights", ";", "the", "hiring", "and", "retention", "of", "qualified", "personnel", "in", "a", "competitive", "labor", "market", ";", "any", "circumstances", "that", "adversely", "impact", "the", "end", "markets", "of", "acquired", "businesses", ";", "and", "difficulties", "in", "closing", "or", "disposing", "of", "operations", "or", "assets", "or", "transferring", "work", ",", "assets", "or", "inventory", "from", "one", "plant", "to", "another", ".", "In", "addition", "to", "these", "factors", "and", "any", "other", "factors", "mentioned", "elsewhere", "in", "this", "news", "release", ",", "the", "reader", "should", "refer", "as", "well", "to", "the", "factors", ",", "uncertainties", "or", "risks", "identified", "in", "the", "most", "recent", "Form", "10", "-", "K", "reports", "and", "any", "subsequent", "Form", "10", "-", "Q", "reports", "filed", "by", "Microsemi", "or", "PMC", "with", "the", "SEC", ".", "Additional", "risk", "factors", "may", "be", "identified", "from", "time", "to", "time", "in", "Microsemi", "'s", "future", "filings", ".", "The", "forward", "-", "looking", "statements", "included", "in", "this", "release", "speak", "only", "as", "of", "the", "date", "hereof", ",", "and", "Microsemi", "does", "not", "undertake", "any", "obligation", "to", "update", "these", "forward", "-", "looking", "statements", "to", "reflect", "subsequent", "events", "or", "circumstances", ".", "Source", ":", "Microsemi", "Corporation" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
64803-000095010307000726-dp05079_ex9901
EX-99.1 8 dp05079_ex9901.htm Unassociated Document EXHIBIT 99.1 CVS/Caremark Merger Closes, Creating the Nation's Leading Pharmacy Services Company WOONSOCKET, R.I. --CVS Corporation and Caremark Rx, Inc. today announced that they have formally closed their transformative merger of equals, creating the nation's premier integrated pharmacy services provider. The combined company, renamed CVS/Caremark Corporation (NYSE: CVS), unifies the nation's largest pharmacy chain with a leading pharmaceutical services company, creating the opportunity to deliver unique products and services that will help manage costs for employers and improve access and choice for consumers. "Today's close of our landmark merger will enable us to begin delivering substantial benefits to shareholders, customers and employees", said Tom Ryan, CVS/Caremark's President and Chief Executive Officer. "CVS/Caremark will offer end-to-end services, from plan design to prescription fulfillment, as well as the opportunity to improve clinical outcomes, which will result in better control over healthcare costs for employers and plan providers. The company will improve the delivery of pharmacy services and healthcare decision making, enabling consumers to benefit from unparalleled access, greater convenience and more choice. We look forward to capitalizing on the tremendous opportunity ahead of us to improve the delivery of pharmacy services". "After months of planning, we are excited to realize our shared vision of creating the premier provider of pharmacy services in the nation", said Mac Crawford, Chairman of CVS/Caremark. "Together we will deliver unique products and services that are responsive to the needs of employers, health plans and consumers, and do it in more convenient and flexible ways that allows consumers to take more control of their healthcare needs". In light of the closing, CVS/Caremark will commence a cash tender offer in approximately five business days for 150 million, or about 10 percent, of its outstanding shares at a fixed price of $35 per share. The combined company will trade on the New York Stock Exchange under the symbol "CVS." Effective today, trading in Caremark stock (NYSE: CMX - News) has been discontinued. About CVS/Caremark CVS/Caremark is the nation's premier integrated pharmacy services provider, combining one of the nation's leading pharmaceutical services companies with the country's largest pharmacy chain. The company fills or manages more than one billion prescriptions per year, more than any other pharmacy services provider. CVS/Caremark drives value for pharmacy services customers by effectively managing pharmaceutical costs and improving healthcare outcomes through its 6,200 CVS/pharmacy stores; its pharmacy benefit management, mail order and specialty pharmacy division, Caremark Pharmacy Services; its retail-based health clinic subsidiary, MinuteClinic; and its online pharmacy, CVS.com. General information about CVS/Caremark is available through the Investor Relations portion of the Company's website, at http://investor.cvs.com, as well as through the pressroom portion of the Company's website, at www.cvs.com/pressroom. Certain Information Regarding the Tender Offer After Closing of the Merger The information in this press release describing CVS' planned tender offer following closing of the CVS/Caremark merger is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell shares of CVS/Caremark's common stock in the tender offer. The tender offer will be made only pursuant to the Offer to Purchase and the related materials that CVS/Caremark will distribute to its shareholders. Shareholders should read the Offer to Purchase and the related materials carefully because they contain important information, including the various terms and conditions of the tender offer. Subsequent to the commencement of the tender offer, shareholders of CVS/Caremark will be able to obtain a free copy of the Tender Offer Statement on Schedule TO, the Offer to Purchase and other documents that CVS/Caremark will be filing with the Securities and Exchange Commission from the Commission's website at www.sec.gov. Shareholders may also obtain a copy of these documents, without charge, from Morrow & Co., Inc., the information agent for the tender offer, toll free at 1 (800) 245-1502 when these documents become available. Shareholders are urged to carefully read these materials prior to making any decision with respect to the tender offer. Shareholders and investors who have questions or need assistance may call Morrow & Co., Inc., the information agent for the tender offer, toll free at 1 (800) 245-1502. Cautionary Statement Regarding Forward-Looking Statements This document contains certain forward-looking statements about CVS and Caremark. When used in this document, the words "anticipates", "may", "can", "believes", "expects", "projects", "intends", "likely", "will", "to be" and any similar expressions and any other statements that are not historical facts, in each case as they relate to CVS or Caremark or to the combined company, the management of either such company or the combined company or the transaction are intended to identify those assertions as forward-looking statements. In making any of those statements, the person making them believes that its expectations are based on reasonable assumptions. However, any such statement may be influenced by factors that could cause actual outcomes and results to be materially different from those projected or anticipated. These forward-looking statements, including, without limitation, statements relating to anticipated accretion, return on equity, cost synergies, incremental revenues and new products and offerings, are subject to numerous risks and uncertainties. There are various important factors that could cause actual results to differ materially from those in any such forward-looking statements, many of which are beyond the control of CVS and Caremark, including macroeconomic condition and general industry conditions such as the competitive environment for retail pharmacy and pharmacy benefit management companies, regulatory and litigation matters and risks, legislative developments, changes in tax and other laws and the effect of changes in general economic conditions. The actual results or performance by CVS or Caremark or the combined company, and issues relating to the transaction, could differ materially from those expressed in, or implied by, any forward-looking statements relating to those matters. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of CVS or Caremark, the combined company or the transaction. Contact: CVS/Caremark Corporation Investors: Nancy Christal, 914-722-4704 VP, Investor Relations or Media: Eileen Howard Dunn, 401-770-4561 VP, Corporate Communications
[ "EX", "-", "99", ".", "1", "8", "dp05079", "_", "ex9901", ".", "htm", "Un", "associated", "Document", "EXHIBIT", "99", ".", "1", "CVS", "/", "Caremark", "Merger", "Closes", ",", "Creating", "the", "Nation", "'s", "Leading", "Pharmacy", "Services", "Company", "WOONSOCKET", ",", "R", ".", "I", ".", "--", "CVS", "Corporation", "and", "Caremark", "Rx", ",", "Inc", ".", "today", "announced", "that", "they", "have", "formally", "closed", "their", "transformative", "merger", "of", "equals", ",", "creating", "the", "nation", "'s", "premier", "integrated", "pharmacy", "services", "provider", ".", "The", "combined", "company", ",", "renamed", "CVS", "/", "Caremark", "Corporation", "(", "NYSE", ":", "CVS", ")", ",", "unifies", "the", "nation", "'s", "largest", "pharmacy", "chain", "with", "a", "leading", "pharmaceutical", "services", "company", ",", "creating", "the", "opportunity", "to", "deliver", "unique", "products", "and", "services", "that", "will", "help", "manage", "costs", "for", "employers", "and", "improve", "access", "and", "choice", "for", "consumers", ".", "\"", "Today", "'s", "close", "of", "our", "landmark", "merger", "will", "enable", "us", "to", "begin", "delivering", "substantial", "benefits", "to", "shareholders", ",", "customers", "and", "employees", "\"", ",", "said", "Tom", "Ryan", ",", "CVS", "/", "Caremark", "'s", "President", "and", "Chief", "Executive", "Officer", ".", "\"", "CVS", "/", "Caremark", "will", "offer", "end", "-", "to", "-", "end", "services", ",", "from", "plan", "design", "to", "prescription", "fulfillment", ",", "as", "well", "as", "the", "opportunity", "to", "improve", "clinical", "outcomes", ",", "which", "will", "result", "in", "better", "control", "over", "healthcare", "costs", "for", "employers", "and", "plan", "providers", ".", "The", "company", "will", "improve", "the", "delivery", "of", "pharmacy", "services", "and", "healthcare", "decision", "making", ",", "enabling", "consumers", "to", "benefit", "from", "unparalleled", "access", ",", "greater", "convenience", "and", "more", "choice", ".", "We", "look", "forward", "to", "capitalizing", "on", "the", "tremendous", "opportunity", "ahead", "of", "us", "to", "improve", "the", "delivery", "of", "pharmacy", "services", "\"", ".", "\"", "After", "months", "of", "planning", ",", "we", "are", "excited", "to", "realize", "our", "shared", "vision", "of", "creating", "the", "premier", "provider", "of", "pharmacy", "services", "in", "the", "nation", "\"", ",", "said", "Mac", "Crawford", ",", "Chairman", "of", "CVS", "/", "Caremark", ".", "\"", "Together", "we", "will", "deliver", "unique", "products", "and", "services", "that", "are", "responsive", "to", "the", "needs", "of", "employers", ",", "health", "plans", "and", "consumers", ",", "and", "do", "it", "in", "more", "convenient", "and", "flexible", "ways", "that", "allows", "consumers", "to", "take", "more", "control", "of", "their", "healthcare", "needs", "\"", ".", "In", "light", "of", "the", "closing", ",", "CVS", "/", "Caremark", "will", "commence", "a", "cash", "tender", "offer", "in", "approximately", "five", "business", "days", "for", "150", "million", ",", "or", "about", "10", "percent", ",", "of", "its", "outstanding", "shares", "at", "a", "fixed", "price", "of", "$", "35", "per", "share", ".", "The", "combined", "company", "will", "trade", "on", "the", "New", "York", "Stock", "Exchange", "under", "the", "symbol", "\"", "CVS", ".", "\"", "Effective", "today", ",", "trading", "in", "Caremark", "stock", "(", "NYSE", ":", "CMX", "-", "News", ")", "has", "been", "discontinued", ".", "About", "CVS", "/", "Caremark", "CVS", "/", "Caremark", "is", "the", "nation", "'s", "premier", "integrated", "pharmacy", "services", "provider", ",", "combining", "one", "of", "the", "nation", "'s", "leading", "pharmaceutical", "services", "companies", "with", "the", "country", "'s", "largest", "pharmacy", "chain", ".", "The", "company", "fills", "or", "manages", "more", "than", "one", "billion", "prescriptions", "per", "year", ",", "more", "than", "any", "other", "pharmacy", "services", "provider", ".", "CVS", "/", "Caremark", "drives", "value", "for", "pharmacy", "services", "customers", "by", "effectively", "managing", "pharmaceutical", "costs", "and", "improving", "healthcare", "outcomes", "through", "its", "6,200", "CVS", "/", "pharmacy", "stores", ";", "its", "pharmacy", "benefit", "management", ",", "mail", "order", "and", "specialty", "pharmacy", "division", ",", "Caremark", "Pharmacy", "Services", ";", "its", "retail", "-", "based", "health", "clinic", "subsidiary", ",", "MinuteClinic", ";", "and", "its", "online", "pharmacy", ",", "CVS.com", ".", "General", "information", "about", "CVS", "/", "Caremark", "is", "available", "through", "the", "Investor", "Relations", "portion", "of", "the", "Company", "'s", "website", ",", "at", "http://investor.cvs.com", ",", "as", "well", "as", "through", "the", "pressroom", "portion", "of", "the", "Company", "'s", "website", ",", "at", "www.cvs.com/pressroom", ".", "Certain", "Information", "Regarding", "the", "Tender", "Offer", "After", "Closing", "of", "the", "Merger", "The", "information", "in", "this", "press", "release", "describing", "CVS", "'", "planned", "tender", "offer", "following", "closing", "of", "the", "CVS", "/", "Caremark", "merger", "is", "for", "informational", "purposes", "only", "and", "does", "not", "constitute", "an", "offer", "to", "buy", "or", "the", "solicitation", "of", "an", "offer", "to", "sell", "shares", "of", "CVS", "/", "Caremark", "'s", "common", "stock", "in", "the", "tender", "offer", ".", "The", "tender", "offer", "will", "be", "made", "only", "pursuant", "to", "the", "Offer", "to", "Purchase", "and", "the", "related", "materials", "that", "CVS", "/", "Caremark", "will", "distribute", "to", "its", "shareholders", ".", "Shareholders", "should", "read", "the", "Offer", "to", "Purchase", "and", "the", "related", "materials", "carefully", "because", "they", "contain", "important", "information", ",", "including", "the", "various", "terms", "and", "conditions", "of", "the", "tender", "offer", ".", "Subsequent", "to", "the", "commencement", "of", "the", "tender", "offer", ",", "shareholders", "of", "CVS", "/", "Caremark", "will", "be", "able", "to", "obtain", "a", "free", "copy", "of", "the", "Tender", "Offer", "Statement", "on", "Schedule", "TO", ",", "the", "Offer", "to", "Purchase", "and", "other", "documents", "that", "CVS", "/", "Caremark", "will", "be", "filing", "with", "the", "Securities", "and", "Exchange", "Commission", "from", "the", "Commission", "'s", "website", "at", "www.sec.gov", ".", "Shareholders", "may", "also", "obtain", "a", "copy", "of", "these", "documents", ",", "without", "charge", ",", "from", "Morrow", "&", "Co", ".", ",", "Inc", ".", ",", "the", "information", "agent", "for", "the", "tender", "offer", ",", "toll", "free", "at", "1", "(", "800", ")", "245", "-", "1502", "when", "these", "documents", "become", "available", ".", "Shareholders", "are", "urged", "to", "carefully", "read", "these", "materials", "prior", "to", "making", "any", "decision", "with", "respect", "to", "the", "tender", "offer", ".", "Shareholders", "and", "investors", "who", "have", "questions", "or", "need", "assistance", "may", "call", "Morrow", "&", "Co", ".", ",", "Inc", ".", ",", "the", "information", "agent", "for", "the", "tender", "offer", ",", "toll", "free", "at", "1", "(", "800", ")", "245", "-", "1502", ".", "Cautionary", "Statement", "Regarding", "Forward", "-", "Looking", "Statements", "This", "document", "contains", "certain", "forward", "-", "looking", "statements", "about", "CVS", "and", "Caremark", ".", "When", "used", "in", "this", "document", ",", "the", "words", "\"", "anticipates", "\"", ",", "\"", "may", "\"", ",", "\"", "can", "\"", ",", "\"", "believes", "\"", ",", "\"", "expects", "\"", ",", "\"", "projects", "\"", ",", "\"", "intends", "\"", ",", "\"", "likely", "\"", ",", "\"", "will", "\"", ",", "\"", "to", "be", "\"", "and", "any", "similar", "expressions", "and", "any", "other", "statements", "that", "are", "not", "historical", "facts", ",", "in", "each", "case", "as", "they", "relate", "to", "CVS", "or", "Caremark", "or", "to", "the", "combined", "company", ",", "the", "management", "of", "either", "such", "company", "or", "the", "combined", "company", "or", "the", "transaction", "are", "intended", "to", "identify", "those", "assertions", "as", "forward", "-", "looking", "statements", ".", "In", "making", "any", "of", "those", "statements", ",", "the", "person", "making", "them", "believes", "that", "its", "expectations", "are", "based", "on", "reasonable", "assumptions", ".", "However", ",", "any", "such", "statement", "may", "be", "influenced", "by", "factors", "that", "could", "cause", "actual", "outcomes", "and", "results", "to", "be", "materially", "different", "from", "those", "projected", "or", "anticipated", ".", "These", "forward", "-", "looking", "statements", ",", "including", ",", "without", "limitation", ",", "statements", "relating", "to", "anticipated", "accretion", ",", "return", "on", "equity", ",", "cost", "synergies", ",", "incremental", "revenues", "and", "new", "products", "and", "offerings", ",", "are", "subject", "to", "numerous", "risks", "and", "uncertainties", ".", "There", "are", "various", "important", "factors", "that", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "in", "any", "such", "forward", "-", "looking", "statements", ",", "many", "of", "which", "are", "beyond", "the", "control", "of", "CVS", "and", "Caremark", ",", "including", "macroeconomic", "condition", "and", "general", "industry", "conditions", "such", "as", "the", "competitive", "environment", "for", "retail", "pharmacy", "and", "pharmacy", "benefit", "management", "companies", ",", "regulatory", "and", "litigation", "matters", "and", "risks", ",", "legislative", "developments", ",", "changes", "in", "tax", "and", "other", "laws", "and", "the", "effect", "of", "changes", "in", "general", "economic", "conditions", ".", "The", "actual", "results", "or", "performance", "by", "CVS", "or", "Caremark", "or", "the", "combined", "company", ",", "and", "issues", "relating", "to", "the", "transaction", ",", "could", "differ", "materially", "from", "those", "expressed", "in", ",", "or", "implied", "by", ",", "any", "forward", "-", "looking", "statements", "relating", "to", "those", "matters", ".", "Accordingly", ",", "no", "assurances", "can", "be", "given", "that", "any", "of", "the", "events", "anticipated", "by", "the", "forward", "-", "looking", "statements", "will", "transpire", "or", "occur", ",", "or", "if", "any", "of", "them", "do", "so", ",", "what", "impact", "they", "will", "have", "on", "the", "results", "of", "operations", "or", "financial", "condition", "of", "CVS", "or", "Caremark", ",", "the", "combined", "company", "or", "the", "transaction", ".", "Contact", ":", "CVS", "/", "Caremark", "Corporation", "Investors", ":", "Nancy", "Christal", ",", "914", "-", "722", "-", "4704", "VP", ",", "Investor", "Relations", "or", "Media", ":", "Eileen", "Howard", "Dunn", ",", "401", "-", "770", "-", "4561", "VP", ",", "Corporate", "Communications" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1265888-000126588815000055-ex991tnsacquisitioncloses
EX-99.1 2 ex991tnsacquisitioncloses.htm EXHIBIT 99.1 Exhibit Exhibit 99.1 Neustar Completes Acquisition of Caller Authentication Assets of TNS Increases 2015 Adjusted Net Income Guidance STERLING, VA, December 21, 2015 - Neustar, Inc. (NYSE: NSR), a trusted neutral provider of real-time information services, announced today that it has completed its acquisition of the caller authentication assets of Transaction Network Services, Inc. (TNS) and updated its 2015 guidance. "We're pleased to announce that we have completed the acquisition of the caller authentication assets of TNS", said Lisa Hook, Neustar's President and Chief Executive Officer. "This acquisition accelerates our ability to launch next generation mobile identity solutions for service providers, businesses, and consumers. These assets enhance our ability to compete across the broad market for caller authentication in mobile, broadband and wireless with offerings that include subscriber data storage and management, caller identification and verification services". The company reaffirmed its 2015 revenue guidance to range from $1.04 billion to $1.05 billion, representing growth of 8% to 9%. Information Services revenue is expected to range from $535 million to $545 million, representing growth of 9% to 12%. The company increased its 2015 adjusted net income guidance to range from $262 million to $268 million, or a 25% margin. On a per share basis, adjusted net income is expected to range from $4.70 to $4.80, an increase of 9% to 11%. Paul Lalljie, Neustar's Chief Financial Officer, added, "We are targeting the top end of our 2015 revenue guidance range and we have increased our adjusted net income guidance to include approximately $8 million in discrete tax benefits. We expect the momentum we have seen in the first three quarters of 2015 to continue. In addition, this acquisition increases our 2016 guidance provided on December 9, 2015, by $60 million in revenue and $20 million in adjusted EBITDA". About Neustar, Inc. Neustar, Inc. (NSR) is the first real-time provider of cloud-based information services, enabling marketing and IT security professionals to promote and protect their businesses. With a commitment to privacy and neutrality, Neustar operates complex data registries and uses its expertise to deliver actionable, data-driven insights that help clients make high-value business decisions in real time, one customer interaction at a time. More information is available at www.neustar.biz. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 Statements in this press release regarding Neustar, Inc.'s acquisition of caller authentication assets of TNS including, without limitation, expected benefits of the transaction, statements about Neustar, Inc.'s 2015 and 2016 guidance and any other statements regarding the company's expectations and beliefs about its future results of operations, goals or business prospects constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. The company cannot assure you that its expectations will be achieved or that any deviations will not be material. Forward-looking statements are subject to many assumptions, risks and uncertainties that may cause future results to differ materially from those anticipated. Among the important factors that could cause future events or results to vary from those addressed in the forward-looking statements include without limitation, the ability to realize the benefits of the transaction at the expected times or at all; and the ability of the acquired business to retain existing business relationships and key employees; the uncertainty of future revenue, expenses and profitability and potential fluctuations in quarterly results due to such factors as modifications to, terminations of, or failures to renew (or announcements related to any of the foregoing) the company's material contracts, including its contracts to serve as the Local Number Portability Administrator, disruptions to the company's operations resulting from network disruptions, security breaches or other events, or an inability to obtain high quality data on favorable terms or otherwise; general economic conditions in the regions and industries in which the company operates; the financial covenants in the company's secured credit facility and their impact on the company's financial and business operations; the company's indebtedness and the impact that it may have on the company's financial and operating activities; the company's ability to incur additional debt; the variable interest rates applicable under the company's indebtedness and the effects of changes in those rates; the company's ability to identify and complete acquisitions and integrate and support the operations of the businesses the company acquires; increasing competition; market acceptance of the company's existing services; the company's ability to successfully develop and market new services and the uncertainty of whether new services will achieve market acceptance or result in any revenue; the company's ability to raise additional capital on favorable terms or at all; business, regulatory and statutory changes related to the communications, Internet and Information Services industries; and the impact on the company of any litigation, arbitration, investigation or other similar proceeding. More information about potential factors that could affect the company's business and financial results is included in its filings with the Securities and Exchange Commission, including, without limitation, its Annual Report on Form 10-K for the year ended December 31, 2014 and subsequent periodic reports. All forward-looking statements are based on information available to the company on the date of this press release, and the company undertakes no obligation to update any of the forward-looking statements after the date of this press release. Reconciliation of Non-GAAP Financial Measures In this press release and in other statements, Neustar presents certain non-GAAP financial measures. These non-GAAP financial measures have limitations and may not be comparable with similar non-GAAP financial measures used by other companies and should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Set forth below are reconciliations of the non-GAAP financial measures to their most directly comparable GAAP financial measures. This reconciliation should be carefully evaluated. Prior disclosures of non-GAAP figures may not exclude the same items and as such should not be used for comparison purposes. Reconciliation of Net Income to Adjusted Net Income and Adjusted EBITDA The following is a reconciliation of net income to adjusted net income and adjusted EBITDA for the years ending December 31, 2015 and 2016. Management believes that these measures enhance investors' understanding of the company's financial performance and the comparability of the company's results to prior periods, as well as against the performance of other companies. Year Ending December 31, 2015 (1) 2016 (1) (in thousands, except per share data) Revenue $ 1,045,000 $ 1,240,000 Net income (2) $ 183,000 $ 195,000 Add: Stock-based compensation 38,500 50,000 Add: Amortization of acquired intangible assets 64,500 93,500 Add: Restructuring charges (3) 5,000 - Add: Acquisition-related costs (4) 13,000 - Less: Adjustment for provision for income taxes (5) (39,000 ) (50,500 ) Adjusted net income $ 265,000 $ 288,000 Add: Depreciation and amortization 121,000 155,000 Less: Amortization of acquired intangible assets (64,500 ) (93,500 ) Add: Adjustment for provision for income taxes 39,000 50,500 Add: Interest expense 29,000 60,000 Add: Non-cash other (income) and expense, net (6) 1,000 - Less: Interest income - - Add: Provision for income taxes 87,000 105,000 Adjusted EBITDA $ 477,500 $ 565,000 Adjusted net income margin (7) 25 % 23 % Adjusted EBITDA margin (8) 46 % 46 % Adjusted net income per diluted share $ 4.75 $ 5.21 Weighted average common shares outstanding - diluted 55,800 55,300 (1) The amounts expressed in these columns represent the midpoint of the company's guidance. For purposes of the year ending December 31, 2016, the reconciliation reflects the guidance provided on December 9, 2015 as supplemented by the acquisition of the caller authentication assets of TNS. (2) Net income for 2015 includes the estimated impact of the MarketShare transaction of approximately $7 million. In addition, any contribution from MarketShare to net income excludes the impact of financing. (3) Amounts represent restructuring charges related to the termination or relocation of certain employees and reduction in or closure of leased facilities. (4) Amounts represent costs incurred by the company in connection with completed acquisitions. (5) Adjustments reflect the estimated impact of income taxes using the effective tax rate for the applicable period. (6) Amounts represent (gain)/loss on foreign currency transactions, realized gains on available-for-sale investments and (gain)/loss on asset disposals. (7) Adjusted net income margin is a measure of adjusted net income as a percentage of revenue. (8) Adjusted EBITDA margin is a measure of adjusted EBITDA as a percentage of revenue. Contact: Neustar Investor Relations Contact Dave Angelicchio, +1 571-434-3443 [email protected] or Neustar Media Relations Contact Donna Estrin, +1 415-470-1204 [email protected]
[ "EX", "-", "99", ".", "1", "2", "ex991tnsacquisitioncloses", ".", "htm", "EXHIBIT", "99", ".", "1", "Exhibit", "Exhibit", "99", ".", "1", "Neustar", "Completes", "Acquisition", "of", "Caller", "Authentication", "Assets", "of", "TNS", "Increases", "2015", "Adjusted", "Net", "Income", "Guidance", "STERLING", ",", "VA", ",", "December", "21", ",", "2015", "-", "Neustar", ",", "Inc", ".", "(", "NYSE", ":", "NSR", ")", ",", "a", "trusted", "neutral", "provider", "of", "real", "-", "time", "information", "services", ",", "announced", "today", "that", "it", "has", "completed", "its", "acquisition", "of", "the", "caller", "authentication", "assets", "of", "Transaction", "Network", "Services", ",", "Inc", ".", "(", "TNS", ")", "and", "updated", "its", "2015", "guidance", ".", "\"", "We", "'", "re", "pleased", "to", "announce", "that", "we", "have", "completed", "the", "acquisition", "of", "the", "caller", "authentication", "assets", "of", "TNS", "\"", ",", "said", "Lisa", "Hook", ",", "Neustar", "'s", "President", "and", "Chief", "Executive", "Officer", ".", "\"", "This", "acquisition", "accelerates", "our", "ability", "to", "launch", "next", "generation", "mobile", "identity", "solutions", "for", "service", "providers", ",", "businesses", ",", "and", "consumers", ".", "These", "assets", "enhance", "our", "ability", "to", "compete", "across", "the", "broad", "market", "for", "caller", "authentication", "in", "mobile", ",", "broadband", "and", "wireless", "with", "offerings", "that", "include", "subscriber", "data", "storage", "and", "management", ",", "caller", "identification", "and", "verification", "services", "\"", ".", "The", "company", "reaffirmed", "its", "2015", "revenue", "guidance", "to", "range", "from", "$", "1.04 billion", "to", "$", "1.05 billion", ",", "representing", "growth", "of", "8", "%", "to", "9", "%", ".", "Information", "Services", "revenue", "is", "expected", "to", "range", "from", "$", "535 million", "to", "$", "545 million", ",", "representing", "growth", "of", "9", "%", "to", "12", "%", ".", "The", "company", "increased", "its", "2015", "adjusted", "net", "income", "guidance", "to", "range", "from", "$", "262 million", "to", "$", "268 million", ",", "or", "a", "25", "%", "margin", ".", "On", "a", "per", "share", "basis", ",", "adjusted", "net", "income", "is", "expected", "to", "range", "from", "$", "4.70", "to", "$", "4.80", ",", "an", "increase", "of", "9", "%", "to", "11", "%", ".", "Paul", "Lalljie", ",", "Neustar", "'s", "Chief", "Financial", "Officer", ",", "added", ",", "\"", "We", "are", "targeting", "the", "top", "end", "of", "our", "2015", "revenue", "guidance", "range", "and", "we", "have", "increased", "our", "adjusted", "net", "income", "guidance", "to", "include", "approximately", "$", "8 million", "in", "discrete", "tax", "benefits", ".", "We", "expect", "the", "momentum", "we", "have", "seen", "in", "the", "first", "three", "quarters", "of", "2015", "to", "continue", ".", "In", "addition", ",", "this", "acquisition", "increases", "our", "2016", "guidance", "provided", "on", "December", "9", ",", "2015", ",", "by", "$", "60 million", "in", "revenue", "and", "$", "20 million", "in", "adjusted", "EBITDA", "\"", ".", "About", "Neustar", ",", "Inc", ".", "Neustar", ",", "Inc", ".", "(", "NSR", ")", "is", "the", "first", "real", "-", "time", "provider", "of", "cloud", "-", "based", "information", "services", ",", "enabling", "marketing", "and", "IT", "security", "professionals", "to", "promote", "and", "protect", "their", "businesses", ".", "With", "a", "commitment", "to", "privacy", "and", "neutrality", ",", "Neustar", "operates", "complex", "data", "registries", "and", "uses", "its", "expertise", "to", "deliver", "actionable", ",", "data", "-", "driven", "insights", "that", "help", "clients", "make", "high", "-", "value", "business", "decisions", "in", "real", "time", ",", "one", "customer", "interaction", "at", "a", "time", ".", "More", "information", "is", "available", "at", "www.neustar.biz", ".", "Safe", "Harbor", "Statement", "under", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", "Statements", "in", "this", "press", "release", "regarding", "Neustar", ",", "Inc", ".", "'s", "acquisition", "of", "caller", "authentication", "assets", "of", "TNS", "including", ",", "without", "limitation", ",", "expected", "benefits", "of", "the", "transaction", ",", "statements", "about", "Neustar", ",", "Inc", ".", "'s", "2015", "and", "2016", "guidance", "and", "any", "other", "statements", "regarding", "the", "company", "'s", "expectations", "and", "beliefs", "about", "its", "future", "results", "of", "operations", ",", "goals", "or", "business", "prospects", "constitute", "forward", "-", "looking", "statements", "made", "pursuant", "to", "the", "safe", "harbor", "provision", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "The", "company", "can", "not", "assure", "you", "that", "its", "expectations", "will", "be", "achieved", "or", "that", "any", "deviations", "will", "not", "be", "material", ".", "Forward", "-", "looking", "statements", "are", "subject", "to", "many", "assumptions", ",", "risks", "and", "uncertainties", "that", "may", "cause", "future", "results", "to", "differ", "materially", "from", "those", "anticipated", ".", "Among", "the", "important", "factors", "that", "could", "cause", "future", "events", "or", "results", "to", "vary", "from", "those", "addressed", "in", "the", "forward", "-", "looking", "statements", "include", "without", "limitation", ",", "the", "ability", "to", "realize", "the", "benefits", "of", "the", "transaction", "at", "the", "expected", "times", "or", "at", "all", ";", "and", "the", "ability", "of", "the", "acquired", "business", "to", "retain", "existing", "business", "relationships", "and", "key", "employees", ";", "the", "uncertainty", "of", "future", "revenue", ",", "expenses", "and", "profitability", "and", "potential", "fluctuations", "in", "quarterly", "results", "due", "to", "such", "factors", "as", "modifications", "to", ",", "terminations", "of", ",", "or", "failures", "to", "renew", "(", "or", "announcements", "related", "to", "any", "of", "the", "foregoing", ")", "the", "company", "'s", "material", "contracts", ",", "including", "its", "contracts", "to", "serve", "as", "the", "Local", "Number", "Portability", "Administrator", ",", "disruptions", "to", "the", "company", "'s", "operations", "resulting", "from", "network", "disruptions", ",", "security", "breaches", "or", "other", "events", ",", "or", "an", "inability", "to", "obtain", "high", "quality", "data", "on", "favorable", "terms", "or", "otherwise", ";", "general", "economic", "conditions", "in", "the", "regions", "and", "industries", "in", "which", "the", "company", "operates", ";", "the", "financial", "covenants", "in", "the", "company", "'s", "secured", "credit", "facility", "and", "their", "impact", "on", "the", "company", "'", "s", "financial", "and", "business", "operations", ";", "the", "company", "'s", "indebtedness", "and", "the", "impact", "that", "it", "may", "have", "on", "the", "company", "'", "s", "financial", "and", "operating", "activities", ";", "the", "company", "'s", "ability", "to", "incur", "additional", "debt", ";", "the", "variable", "interest", "rates", "applicable", "under", "the", "company", "'s", "indebtedness", "and", "the", "effects", "of", "changes", "in", "those", "rates", ";", "the", "company", "'s", "ability", "to", "identify", "and", "complete", "acquisitions", "and", "integrate", "and", "support", "the", "operations", "of", "the", "businesses", "the", "company", "acquires", ";", "increasing", "competition", ";", "market", "acceptance", "of", "the", "company", "'s", "existing", "services", ";", "the", "company", "'s", "ability", "to", "successfully", "develop", "and", "market", "new", "services", "and", "the", "uncertainty", "of", "whether", "new", "services", "will", "achieve", "market", "acceptance", "or", "result", "in", "any", "revenue", ";", "the", "company", "'s", "ability", "to", "raise", "additional", "capital", "on", "favorable", "terms", "or", "at", "all", ";", "business", ",", "regulatory", "and", "statutory", "changes", "related", "to", "the", "communications", ",", "Internet", "and", "Information", "Services", "industries", ";", "and", "the", "impact", "on", "the", "company", "of", "any", "litigation", ",", "arbitration", ",", "investigation", "or", "other", "similar", "proceeding", ".", "More", "information", "about", "potential", "factors", "that", "could", "affect", "the", "company", "'", "s", "business", "and", "financial", "results", "is", "included", "in", "its", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", ",", "including", ",", "without", "limitation", ",", "its", "Annual", "Report", "on", "Form", "10", "-", "K", "for", "the", "year", "ended", "December", "31", ",", "2014", "and", "subsequent", "periodic", "reports", ".", "All", "forward", "-", "looking", "statements", "are", "based", "on", "information", "available", "to", "the", "company", "on", "the", "date", "of", "this", "press", "release", ",", "and", "the", "company", "undertakes", "no", "obligation", "to", "update", "any", "of", "the", "forward", "-", "looking", "statements", "after", "the", "date", "of", "this", "press", "release", ".", "Reconciliation", "of", "Non", "-", "GAAP", "Financial", "Measures", "In", "this", "press", "release", "and", "in", "other", "statements", ",", "Neustar", "presents", "certain", "non", "-", "GAAP", "financial", "measures", ".", "These", "non", "-", "GAAP", "financial", "measures", "have", "limitations", "and", "may", "not", "be", "comparable", "with", "similar", "non", "-", "GAAP", "financial", "measures", "used", "by", "other", "companies", "and", "should", "not", "be", "considered", "in", "isolation", "from", ",", "or", "as", "a", "substitute", "for", ",", "financial", "information", "prepared", "in", "accordance", "with", "GAAP", ".", "Set", "forth", "below", "are", "reconciliations", "of", "the", "non", "-", "GAAP", "financial", "measures", "to", "their", "most", "directly", "comparable", "GAAP", "financial", "measures", ".", "This", "reconciliation", "should", "be", "carefully", "evaluated", ".", "Prior", "disclosures", "of", "non", "-", "GAAP", "figures", "may", "not", "exclude", "the", "same", "items", "and", "as", "such", "should", "not", "be", "used", "for", "comparison", "purposes", ".", "Reconciliation", "of", "Net", "Income", "to", "Adjusted", "Net", "Income", "and", "Adjusted", "EBITDA", "The", "following", "is", "a", "reconciliation", "of", "net", "income", "to", "adjusted", "net", "income", "and", "adjusted", "EBITDA", "for", "the", "years", "ending", "December", "31", ",", "2015", "and", "2016", ".", "Management", "believes", "that", "these", "measures", "enhance", "investors", "'", "understanding", "of", "the", "company", "'s", "financial", "performance", "and", "the", "comparability", "of", "the", "company", "'s", "results", "to", "prior", "periods", ",", "as", "well", "as", "against", "the", "performance", "of", "other", "companies", ".", "Year", "Ending", "December", "31", ",", "2015", "(", "1", ")", "2016", "(", "1", ")", "(", "in", "thousands", ",", "except", "per", "share", "data", ")", "Revenue", "$", "1,045,000", "$", "1,240,000", "Net", "income", "(", "2", ")", "$", "183,000", "$", "195,000", "Add", ":", "Stock", "-", "based", "compensation", "38,500", "50,000", "Add", ":", "Amortization", "of", "acquired", "intangible", "assets", "64,500", "93,500", "Add", ":", "Restructuring", "charges", "(", "3", ")", "5,000", "-", "Add", ":", "Acquisition", "-", "related", "costs", "(", "4", ")", "13,000", "-", "Less", ":", "Adjustment", "for", "provision", "for", "income", "taxes", "(", "5", ")", "(", "39,000", ")", "(", "50,500", ")", "Adjusted", "net", "income", "$", "265,000", "$", "288,000", "Add", ":", "Depreciation", "and", "amortization", "121,000", "155,000", "Less", ":", "Amortization", "of", "acquired", "intangible", "assets", "(", "64,500", ")", "(", "93,500", ")", "Add", ":", "Adjustment", "for", "provision", "for", "income", "taxes", "39,000", "50,500", "Add", ":", "Interest", "expense", "29,000", "60,000", "Add", ":", "Non", "-", "cash", "other", "(", "income", ")", "and", "expense", ",", "net", "(", "6", ")", "1,000", "-", "Less", ":", "Interest", "income", "-", "-", "Add", ":", "Provision", "for", "income", "taxes", "87,000", "105,000", "Adjusted", "EBITDA", "$", "477,500", "$", "565,000", "Adjusted", "net", "income", "margin", "(", "7", ")", "25", "%", "23", "%", "Adjusted", "EBITDA", "margin", "(", "8", ")", "46", "%", "46", "%", "Adjusted", "net", "income", "per", "diluted", "share", "$", "4", ".", "75", "$", "5", ".", "21", "Weighted", "average", "common", "shares", "outstanding", "-", "diluted", "55,800", "55,300", "(", "1", ")", "The", "amounts", "expressed", "in", "these", "columns", "represent", "the", "midpoint", "of", "the", "company", "'s", "guidance", ".", "For", "purposes", "of", "the", "year", "ending", "December", "31", ",", "2016", ",", "the", "reconciliation", "reflects", "the", "guidance", "provided", "on", "December", "9", ",", "2015", "as", "supplemented", "by", "the", "acquisition", "of", "the", "caller", "authentication", "assets", "of", "TNS", ".", "(", "2", ")", "Net", "income", "for", "2015", "includes", "the", "estimated", "impact", "of", "the", "MarketShare", "transaction", "of", "approximately", "$", "7 million", ".", "In", "addition", ",", "any", "contribution", "from", "MarketShare", "to", "net", "income", "excludes", "the", "impact", "of", "financing", ".", "(", "3", ")", "Amounts", "represent", "restructuring", "charges", "related", "to", "the", "termination", "or", "relocation", "of", "certain", "employees", "and", "reduction", "in", "or", "closure", "of", "leased", "facilities", ".", "(", "4", ")", "Amounts", "represent", "costs", "incurred", "by", "the", "company", "in", "connection", "with", "completed", "acquisitions", ".", "(", "5", ")", "Adjustments", "reflect", "the", "estimated", "impact", "of", "income", "taxes", "using", "the", "effective", "tax", "rate", "for", "the", "applicable", "period", ".", "(", "6", ")", "Amounts", "represent", "(", "gain", ")", "/", "loss", "on", "foreign", "currency", "transactions", ",", "realized", "gains", "on", "available", "-", "for", "-", "sale", "investments", "and", "(", "gain", ")", "/", "loss", "on", "asset", "disposals", ".", "(", "7", ")", "Adjusted", "net", "income", "margin", "is", "a", "measure", "of", "adjusted", "net", "income", "as", "a", "percentage", "of", "revenue", ".", "(", "8", ")", "Adjusted", "EBITDA", "margin", "is", "a", "measure", "of", "adjusted", "EBITDA", "as", "a", "percentage", "of", "revenue", ".", "Contact", ":", "Neustar", "Investor", "Relations", "Contact", "Dave", "Angelicchio", ",", "+", "1", "571", "-", "434", "-", "3443", "[email protected]", "or", "Neustar", "Media", "Relations", "Contact", "Donna", "Estrin", ",", "+", "1", "415", "-", "470", "-", "1204", "[email protected]" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Generic_Info.ANNUAL_REVENUES", "I-Generic_Info.ANNUAL_REVENUES", "I-Generic_Info.ANNUAL_REVENUES", "I-Generic_Info.ANNUAL_REVENUES", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1001606-000095015711000702-ex99-1
EX-99.1 2 ex99-1.htm PRESS RELEASE ex99-1.htm Exhibit 99.1 Blount International Closed Acquisition of Woods Equipment Company PORTLAND, OR - September 7, 2011 - Blount International, Inc. (NYSE: BLT) ("Blount") today announced that it has closed its acquisition of GenWoods HoldCo, LLC ("Woods Holdings") and its wholly owned subsidiary, Woods Equipment Company ("Woods"), a manufacturer and marketer of equipment and replacement parts primarily for the agriculture end market. Blount previously announced the signing of the Merger Agreement for this acquisition on August 17, 2011. Josh Collins, Blount's Chairman and CEO, stated "We are excited to welcome Woods and TISCO to the Blount family and to work with our new team members to help grow our business in the farm, ranch, and agriculture end markets. The combination with our existing businesses is consistent with our stated strategy and provides significant opportunities for value creation across the enterprise". For an overview of the acquisition, please visit our website at http://www.blount.com/ to view the presentation titled "Woods Acquisition Overview". Founded in 1946, Woods is a manufacturer and marketer of equipment and replacement parts for the agriculture, grounds maintenance, and construction markets, primarily in North America, with approximately $160 million in sales for the twelve months ended July 31, 2011. Woods manufactures, markets, and distributes agriculture and construction attachments and related replacement parts in its Attachment business unit, and it markets and distributes one of the largest selections of replacement parts for tractors and implements through its Aftermarket Parts business unit. Woods offers its products under the brand names Woods®, Alitec®, Central Fabricators®, Gannon®, Wain-Roy®, WoodsCare™, and TISCO® through a vast distribution network, including over 11,000 dealers nationwide, original equipment manufacturers, nationwide farm stores, an e-commerce portal, and tractor repair shops. Blount is a leader in the design, manufacturing, and marketing of replacement parts and equipment for consumers and professionals in select global end markets, including forestry; lawn and garden; farm, ranch, and agriculture; and concrete cutting and finishing, and is the market leader in manufacturing saw chain and guide bars for chain saws. Blount sells its products in more than 100 countries around the world. For more information about Blount, please visit our website at http://www.blount.com/. 4909 SE INTERNATIONAL WAY | PORTLAND, OREGON 97222 | 503.653.8881 ### Forward looking statements in this release, including without limitation the Company's outlook, expectations, beliefs, plans, indications, estimates, anticipations, guidance, and their variants, as defined by the Private Securities Litigation Reform Act of 1995, are based upon available information and upon assumptions that the Company believes are reasonable; however, these forward looking statements involve certain risks and should not be considered indicative of actual results that the Company may achieve in the future. In particular, among other things, guidance given in this release is expressly based upon certain assumptions concerning market conditions, foreign currency exchange rates, raw material costs, the presumed relationship between backlog, and future sales trends, as well as the uncertainty of the current global economic situation. To the extent that these assumptions are not realized going forward, or other unforeseen factors arise, actual results for the periods subsequent to the date of this announcement may differ materially. 4909 SE INTERNATIONAL WAY | PORTLAND, OREGON 97222 | 503.653.8881
[ "EX", "-", "99", ".", "1", "2", "ex99", "-", "1", ".", "htm", "PRESS", "RELEASE", "ex99", "-", "1", ".", "htm", "Exhibit", "99", ".", "1", "Blount", "International", "Closed", "Acquisition", "of", "Woods", "Equipment", "Company", "PORTLAND", ",", "OR", "-", "September", "7", ",", "2011", "-", "Blount", "International", ",", "Inc", ".", "(", "NYSE", ":", "BLT", ")", "(", "\"", "Blount", "\"", ")", "today", "announced", "that", "it", "has", "closed", "its", "acquisition", "of", "GenWoods", "HoldCo", ",", "LLC", "(", "\"", "Woods", "Holdings", "\"", ")", "and", "its", "wholly", "owned", "subsidiary", ",", "Woods", "Equipment", "Company", "(", "\"", "Woods", "\"", ")", ",", "a", "manufacturer", "and", "marketer", "of", "equipment", "and", "replacement", "parts", "primarily", "for", "the", "agriculture", "end", "market", ".", "Blount", "previously", "announced", "the", "signing", "of", "the", "Merger", "Agreement", "for", "this", "acquisition", "on", "August", "17", ",", "2011", ".", "Josh", "Collins", ",", "Blount", "'s", "Chairman", "and", "CEO", ",", "stated", "\"", "We", "are", "excited", "to", "welcome", "Woods", "and", "TISCO", "to", "the", "Blount", "family", "and", "to", "work", "with", "our", "new", "team", "members", "to", "help", "grow", "our", "business", "in", "the", "farm", ",", "ranch", ",", "and", "agriculture", "end", "markets", ".", "The", "combination", "with", "our", "existing", "businesses", "is", "consistent", "with", "our", "stated", "strategy", "and", "provides", "significant", "opportunities", "for", "value", "creation", "across", "the", "enterprise", "\"", ".", "For", "an", "overview", "of", "the", "acquisition", ",", "please", "visit", "our", "website", "at", "http://www.blount.com/", "to", "view", "the", "presentation", "titled", "\"", "Woods", "Acquisition", "Overview", "\"", ".", "Founded", "in", "1946", ",", "Woods", "is", "a", "manufacturer", "and", "marketer", "of", "equipment", "and", "replacement", "parts", "for", "the", "agriculture", ",", "grounds", "maintenance", ",", "and", "construction", "markets", ",", "primarily", "in", "North", "America", ",", "with", "approximately", "$", "160 million", "in", "sales", "for", "the", "twelve", "months", "ended", "July", "31", ",", "2011", ".", "Woods", "manufactures", ",", "markets", ",", "and", "distributes", "agriculture", "and", "construction", "attachments", "and", "related", "replacement", "parts", "in", "its", "Attachment", "business", "unit", ",", "and", "it", "markets", "and", "distributes", "one", "of", "the", "largest", "selections", "of", "replacement", "parts", "for", "tractors", "and", "implements", "through", "its", "Aftermarket", "Parts", "business", "unit", ".", "Woods", "offers", "its", "products", "under", "the", "brand", "names", "Woods", "®", ",", "Alitec", "®", ",", "Central", "Fabricators", "®", ",", "Gannon", "®", ",", "Wain-Roy", "®", ",", "WoodsCare", "™", ",", "and", "TISCO", "®", "through", "a", "vast", "distribution", "network", ",", "including", "over", "11,000", "dealers", "nationwide", ",", "original", "equipment", "manufacturers", ",", "nationwide", "farm", "stores", ",", "an", "e", "-", "commerce", "portal", ",", "and", "tractor", "repair", "shops", ".", "Blount", "is", "a", "leader", "in", "the", "design", ",", "manufacturing", ",", "and", "marketing", "of", "replacement", "parts", "and", "equipment", "for", "consumers", "and", "professionals", "in", "select", "global", "end", "markets", ",", "including", "forestry", ";", "lawn", "and", "garden", ";", "farm", ",", "ranch", ",", "and", "agriculture", ";", "and", "concrete", "cutting", "and", "finishing", ",", "and", "is", "the", "market", "leader", "in", "manufacturing", "saw", "chain", "and", "guide", "bars", "for", "chain", "saws", ".", "Blount", "sells", "its", "products", "in", "more", "than", "100", "countries", "around", "the", "world", ".", "For", "more", "information", "about", "Blount", ",", "please", "visit", "our", "website", "at", "http://www.blount.com/", ".", "4909", "SE", "INTERNATIONAL", "WAY", "|", "PORTLAND", ",", "OREGON", "97222", "|", "503", ".", "653", ".", "8881", "#", "#", "#", "Forward", "looking", "statements", "in", "this", "release", ",", "including", "without", "limitation", "the", "Company", "'s", "outlook", ",", "expectations", ",", "beliefs", ",", "plans", ",", "indications", ",", "estimates", ",", "anticipations", ",", "guidance", ",", "and", "their", "variants", ",", "as", "defined", "by", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ",", "are", "based", "upon", "available", "information", "and", "upon", "assumptions", "that", "the", "Company", "believes", "are", "reasonable", ";", "however", ",", "these", "forward", "looking", "statements", "involve", "certain", "risks", "and", "should", "not", "be", "considered", "indicative", "of", "actual", "results", "that", "the", "Company", "may", "achieve", "in", "the", "future", ".", "In", "particular", ",", "among", "other", "things", ",", "guidance", "given", "in", "this", "release", "is", "expressly", "based", "upon", "certain", "assumptions", "concerning", "market", "conditions", ",", "foreign", "currency", "exchange", "rates", ",", "raw", "material", "costs", ",", "the", "presumed", "relationship", "between", "backlog", ",", "and", "future", "sales", "trends", ",", "as", "well", "as", "the", "uncertainty", "of", "the", "current", "global", "economic", "situation", ".", "To", "the", "extent", "that", "these", "assumptions", "are", "not", "realized", "going", "forward", ",", "or", "other", "unforeseen", "factors", "arise", ",", "actual", "results", "for", "the", "periods", "subsequent", "to", "the", "date", "of", "this", "announcement", "may", "differ", "materially", ".", "4909", "SE", "INTERNATIONAL", "WAY", "|", "PORTLAND", ",", "OREGON", "97222", "|", "503", ".", "653", ".", "8881" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Generic_Info.ANNUAL_REVENUES", "I-Generic_Info.ANNUAL_REVENUES", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
37008-000119380508002727-e604521_ex99-2
EX-99.2 3 e604521_ex99-2.htm PRESS RELEASE ISSUED OCTOBER 30, 2008 Unassociated Document Contact at Winthrop Realty Trust Beverly Bergman Investor or Media Inquiries Phone: (617) 570-4614; e-mail: [email protected] FOR IMMEDIATE RELEASE October 29, 2008 WINTHROP REALTY TRUST ACQUIRES 27% OF ITS OUTSTANDING SERIES B-1 PREFERRED SHARES AT A DISCOUNT BOSTON, MA - October 29/PRNewswire-FirstCall/ - Winthrop Realty Trust (NYSE:FUR) today announced that it has acquired 944,000 of its Series B-1 Cumulative Convertible Redeemable Preferred Shares with a liquidation value of $23,600,000 at price of $17,051,000 which represents a 27.75% discount to its liquidation value. Michael L. Ashner, the Chairman and Chief Executive Officer of Winthrop stated "given the current uncertainty in the marketplace, we believe that, as with our recently announced common share repurchase plan, the acquisition of our preferred shares at a substantial discount is an accretive deleveraging investment which provides a very low risk enhancement to net asset value." ___________________ Winthrop Realty Trust is a NYSE-listed real estate investment trust (REIT) headquartered in Boston, Massachusetts. Additional information on Winthrop Realty Trust is available on its Web site at www.winthropreit.com . "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. With the exception of the historical information contained in this news release, the matters described herein contain "forward-looking" statements that involve risk and uncertainties that may individually or collectively impact the matters herein described. These are detailed from time to time in the "Risk Factors" section of the Company's Annual Report of Form 10-K/A for the year ended December 31, 2007, as may be updated or supplemented in the Company's Form 10-Q filings which discuss the factors that could adversely affect the Company's results. Further information relating to the Company's financial position, results of operations, and investor information is also contained in the Company's reports filed with the SEC, which reports are available for download at our website www.winthropreit.com or at the SEC website www.sec.gov .
[ "EX", "-", "99", ".", "2", "3", "e604521", "_", "ex99", "-", "2", ".", "htm", "PRESS", "RELEASE", "ISSUED", "OCTOBER", "30", ",", "2008", "Un", "associated", "Document", "Contact", "at", "Winthrop", "Realty", "Trust", "Beverly", "Bergman", "Investor", "or", "Media", "Inquiries", "Phone", ":", "(", "617", ")", "570", "-", "4614", ";", "e", "-", "mail", ":", "[email protected]", "FOR", "IMMEDIATE", "RELEASE", "October", "29", ",", "2008", "WINTHROP", "REALTY", "TRUST", "ACQUIRES", "27", "%", "OF", "ITS", "OUTSTANDING", "SERIES", "B", "-", "1", "PREFERRED", "SHARES", "AT", "A", "DISCOUNT", "BOSTON", ",", "MA", "-", "October", "29", "/", "PRNewswire", "-", "FirstCall", "/", "-", "Winthrop", "Realty", "Trust", "(", "NYSE", ":", "FUR", ")", "today", "announced", "that", "it", "has", "acquired", "944,000", "of", "its", "Series", "B", "-", "1", "Cumulative", "Convertible", "Redeemable", "Preferred", "Shares", "with", "a", "liquidation", "value", "of", "$", "23,600,000", "at", "price", "of", "$", "17,051,000", "which", "represents", "a", "27", ".", "75", "%", "discount", "to", "its", "liquidation", "value", ".", "Michael", "L", ".", "Ashner", ",", "the", "Chairman", "and", "Chief", "Executive", "Officer", "of", "Winthrop", "stated", "\"", "given", "the", "current", "uncertainty", "in", "the", "marketplace", ",", "we", "believe", "that", ",", "as", "with", "our", "recently", "announced", "common", "share", "repurchase", "plan", ",", "the", "acquisition", "of", "our", "preferred", "shares", "at", "a", "substantial", "discount", "is", "an", "accretive", "deleveraging", "investment", "which", "provides", "a", "very", "low", "risk", "enhancement", "to", "net", "asset", "value", ".", "\"", "___________________", "Winthrop", "Realty", "Trust", "is", "a", "NYSE", "-", "listed", "real", "estate", "investment", "trust", "(", "REIT", ")", "headquartered", "in", "Boston", ",", "Massachusetts", ".", "Additional", "information", "on", "Winthrop", "Realty", "Trust", "is", "available", "on", "its", "Web", "site", "at", "www.winthropreit.com", ".", "\"", "Safe", "Harbor", "\"", "Statement", "under", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "With", "the", "exception", "of", "the", "historical", "information", "contained", "in", "this", "news", "release", ",", "the", "matters", "described", "herein", "contain", "\"", "forward", "-", "looking", "\"", "statements", "that", "involve", "risk", "and", "uncertainties", "that", "may", "individually", "or", "collectively", "impact", "the", "matters", "herein", "described", ".", "These", "are", "detailed", "from", "time", "to", "time", "in", "the", "\"", "Risk", "Factors", "\"", "section", "of", "the", "Company", "'s", "Annual", "Report", "of", "Form", "10", "-", "K", "/", "A", "for", "the", "year", "ended", "December", "31", ",", "2007", ",", "as", "may", "be", "updated", "or", "supplemented", "in", "the", "Company", "'s", "Form", "10", "-", "Q", "filings", "which", "discuss", "the", "factors", "that", "could", "adversely", "affect", "the", "Company", "'s", "results", ".", "Further", "information", "relating", "to", "the", "Company", "'s", "financial", "position", ",", "results", "of", "operations", ",", "and", "investor", "information", "is", "also", "contained", "in", "the", "Company", "'s", "reports", "filed", "with", "the", "SEC", ",", "which", "reports", "are", "available", "for", "download", "at", "our", "website", "www.winthropreit.com", "or", "at", "the", "SEC", "website", "www.sec.gov", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1068874-000106887407000012-ex99_1pressrelease
EX-99.1 5 ex99_1pressrelease.htm EXHIBIT 99.1 PRESS RELEASE Exhibit 99.1 Press Release Exhibit 99.1 IMPLANT SCIENCES MAKES ASSET SALE TO ENHANCE ITS FOCUS ON SECURITY PRODUCTS COMPANY STRENGTHENS BALANCE SHEET WITH GROSS CASH PROCEEDS OF APPROXIMATELY $12.7 MILLION WAKEFIELD, MA…May 2, 2007…Implant Sciences Corporation (AMEX: IMX) today announced the execution of a definitive agreement and closing on the sale of Accurel Systems International ("Accurel"), a division of the Company's semiconductor business unit. The Company sold substantially all of the assets of Accurel to Evans Analytical Group LLC ("Evans"). The Company received gross cash proceeds of approximately $12,705,000 and Evans will also assume estimated liabilities of approximately $3,017,000, including equipment related debt. Transaction costs are estimated to be approximately $929,000. In addition, the Company will issue a warrant to purchase 350,000 shares of the Company's common stock to Legend Merchant Group, our investment banker, in accordance with the terms of our July 2006 engagement letter. The warrant may be exercised at a price equal to the closing price of the Company's common stock on May 1, 2007. In connection with this transaction, the Company repaid a $1,500,000 secured term note, plus accrued interest, issued to Laurus Master Fund, Ltd. on December 29, 2006. Transaction details will be disclosed in the Company's Current Report on Form 8-K which will be filed on or before May 7, 2007. Dr. Anthony J. Armini, Ph.D., Chairman and CEO of Implant Sciences, commented, "The sale of Accurel marks another step forward for the Company as we continue to implement our strategic plan, put in motion in July 2006. At that time, the Company announced Legend Merchant Group had been engaged as the Company's investment bankers and strategic advisors. We are committed to continuing the streamlining of the Company's operations and enhancing our focus on opportunities in our security business. The sale of Accurel provides us with the opportunity to concentrate our management, manpower and working capital on the goal of expanding our security sales and marketing reach and increasing our efforts to expand our security product line. As additional accomplishments in the execution of our strategic plan are achieved, timely updates will be provided to our shareholders and the investment community". Dr. Armini added, "We believe the value created in Accurel over the past two years and the cash resources now liberated as a result of the disposition provide us with a stronger balance sheet, the ability to better manage certain convertible debt obligations, and the resources necessary to expand our security business. I look forward to discussing the details of the Accurel transaction and our continuing strategic plan in our scheduled conference call". Company Conference Call Management will host a conference call on Monday, May 7, 2007 at 11:00 AM Eastern Time to review the Accurel transaction and the Company's continuing strategic plan, followed by a Q&A session. The call can be accessed by dialing: 866-314-5050 within the U.S. or 617-213-8051 outside the U.S. and entering the passcode: 47099483. Participants are asked to call the assigned number approximately 5 minutes before the conference call begins. A replay of the conference call will be available two hours after the call for the following two business days by dialing: 888-286-8010 within the U.S. or 617-801-6888 outside the U.S. and entering passcode: 21790140. About Implant Sciences Implant Sciences, established since 1984, uses its patented ion beam technology to develop, manufacture and sell products through its primary business units: (i) trace explosives detection systems for homeland security, defense, and other security related applications and (ii) state of the art products and services for the medical and semiconductor industries. The Company has developed and begun shipments of handheld, portable trace explosive detection systems to a growing number of locations around the world and domestically. Building on its proprietary core technological capabilities, it currently is working on the development of several next generation trace explosives detection systems. The Company believes its strong background and experience in ion beam technology will address many important current and future security needs in aviation, cargo, transportation, and other related elements of the government and commercial infrastructure. In addition to its core security market focus, the Company has a line of medical product coatings business activities at its main facility in Wakefield Massachusetts and operates state of the art ion implanters at both the Wakefield location and at a modern facility in Sunnyvale, California providing implantation services to the semiconductor industry. For further details on the Company and its products, please visit the Company's website at www.implantsciences.com. Implant Sciences believes that this press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties. Such statements are based on management's current expectations and are subject to facts that could cause results to differ materially from the forward-looking statements. For further information you are encouraged to review Implant Sciences' filings with the Securities and Exchange Commission, including its Annual Report on Form 10K for the period ended June 30, 2006 and Quarterly Reports on Form 10Q for the periods ended September 30, 2006 and December 31, 2006. The Company assumes no obligation to update the information contained in this press release. For further information contact: Implant Sciences Corporation Investor Relations (508) 523-3141 or (781) 246-0700 www.implantsciences.com Catalyst Financial Resources Thomas T. O'Brien, 503-757-4903 [email protected]
[ "EX", "-", "99", ".", "1", "5", "ex99", "_", "1pressrelease", ".", "htm", "EXHIBIT", "99", ".", "1", "PRESS", "RELEASE", "Exhibit", "99", ".", "1", "Press", "Release", "Exhibit", "99", ".", "1", "IMPLANT", "SCIENCES", "MAKES", "ASSET", "SALE", "TO", "ENHANCE", "ITS", "FOCUS", "ON", "SECURITY", "PRODUCTS", "COMPANY", "STRENGTHENS", "BALANCE", "SHEET", "WITH", "GROSS", "CASH", "PROCEEDS", "OF", "APPROXIMATELY", "$", "12.7", "MILLION", "WAKEFIELD", ",", "MA", "…", "May", "2", ",", "2007", "…", "Implant", "Sciences", "Corporation", "(", "AMEX", ":", "IMX", ")", "today", "announced", "the", "execution", "of", "a", "definitive", "agreement", "and", "closing", "on", "the", "sale", "of", "Accurel", "Systems", "International", "(", "\"", "Accurel", "\"", ")", ",", "a", "division", "of", "the", "Company", "'s", "semiconductor", "business", "unit", ".", "The", "Company", "sold", "substantially", "all", "of", "the", "assets", "of", "Accurel", "to", "Evans", "Analytical", "Group", "LLC", "(", "\"", "Evans", "\"", ")", ".", "The", "Company", "received", "gross", "cash", "proceeds", "of", "approximately", "$", "12,705,000", "and", "Evans", "will", "also", "assume", "estimated", "liabilities", "of", "approximately", "$", "3,017,000", ",", "including", "equipment", "related", "debt", ".", "Transaction", "costs", "are", "estimated", "to", "be", "approximately", "$", "929,000", ".", "In", "addition", ",", "the", "Company", "will", "issue", "a", "warrant", "to", "purchase", "350,000", "shares", "of", "the", "Company", "'", "s", "common", "stock", "to", "Legend", "Merchant", "Group", ",", "our", "investment", "banker", ",", "in", "accordance", "with", "the", "terms", "of", "our", "July", "2006", "engagement", "letter", ".", "The", "warrant", "may", "be", "exercised", "at", "a", "price", "equal", "to", "the", "closing", "price", "of", "the", "Company", "'s", "common", "stock", "on", "May", "1", ",", "2007", ".", "In", "connection", "with", "this", "transaction", ",", "the", "Company", "repaid", "a", "$", "1,500,000", "secured", "term", "note", ",", "plus", "accrued", "interest", ",", "issued", "to", "Laurus", "Master", "Fund", ",", "Ltd", ".", "on", "December", "29", ",", "2006", ".", "Transaction", "details", "will", "be", "disclosed", "in", "the", "Company", "'s", "Current", "Report", "on", "Form", "8", "-", "K", "which", "will", "be", "filed", "on", "or", "before", "May", "7", ",", "2007", ".", "Dr", ".", "Anthony", "J", ".", "Armini", ",", "Ph", ".", "D", ".", ",", "Chairman", "and", "CEO", "of", "Implant", "Sciences", ",", "commented", ",", "\"", "The", "sale", "of", "Accurel", "marks", "another", "step", "forward", "for", "the", "Company", "as", "we", "continue", "to", "implement", "our", "strategic", "plan", ",", "put", "in", "motion", "in", "July", "2006", ".", "At", "that", "time", ",", "the", "Company", "announced", "Legend", "Merchant", "Group", "had", "been", "engaged", "as", "the", "Company", "'s", "investment", "bankers", "and", "strategic", "advisors", ".", "We", "are", "committed", "to", "continuing", "the", "streamlining", "of", "the", "Company", "'s", "operations", "and", "enhancing", "our", "focus", "on", "opportunities", "in", "our", "security", "business", ".", "The", "sale", "of", "Accurel", "provides", "us", "with", "the", "opportunity", "to", "concentrate", "our", "management", ",", "manpower", "and", "working", "capital", "on", "the", "goal", "of", "expanding", "our", "security", "sales", "and", "marketing", "reach", "and", "increasing", "our", "efforts", "to", "expand", "our", "security", "product", "line", ".", "As", "additional", "accomplishments", "in", "the", "execution", "of", "our", "strategic", "plan", "are", "achieved", ",", "timely", "updates", "will", "be", "provided", "to", "our", "shareholders", "and", "the", "investment", "community", "\"", ".", "Dr", ".", "Armini", "added", ",", "\"", "We", "believe", "the", "value", "created", "in", "Accurel", "over", "the", "past", "two", "years", "and", "the", "cash", "resources", "now", "liberated", "as", "a", "result", "of", "the", "disposition", "provide", "us", "with", "a", "stronger", "balance", "sheet", ",", "the", "ability", "to", "better", "manage", "certain", "convertible", "debt", "obligations", ",", "and", "the", "resources", "necessary", "to", "expand", "our", "security", "business", ".", "I", "look", "forward", "to", "discussing", "the", "details", "of", "the", "Accurel", "transaction", "and", "our", "continuing", "strategic", "plan", "in", "our", "scheduled", "conference", "call", "\"", ".", "Company", "Conference", "Call", "Management", "will", "host", "a", "conference", "call", "on", "Monday", ",", "May", "7", ",", "2007", "at", "11", ":", "00", "AM", "Eastern Time", "to", "review", "the", "Accurel", "transaction", "and", "the", "Company", "'", "s", "continuing", "strategic", "plan", ",", "followed", "by", "a", "Q", "&", "A", "session", ".", "The", "call", "can", "be", "accessed", "by", "dialing", ":", "866", "-", "314", "-", "5050", "within", "the", "U", ".", "S", ".", "or", "617", "-", "213", "-", "8051", "outside", "the", "U", ".", "S", ".", "and", "entering", "the", "passcode", ":", "47099483", ".", "Participants", "are", "asked", "to", "call", "the", "assigned", "number", "approximately", "5", "minutes", "before", "the", "conference", "call", "begins", ".", "A", "replay", "of", "the", "conference", "call", "will", "be", "available", "two", "hours", "after", "the", "call", "for", "the", "following", "two", "business", "days", "by", "dialing", ":", "888", "-", "286", "-", "8010", "within", "the", "U", ".", "S", ".", "or", "617", "-", "801", "-", "6888", "outside", "the", "U", ".", "S", ".", "and", "entering", "passcode", ":", "21790140", ".", "About", "Implant", "Sciences", "Implant", "Sciences", ",", "established", "since", "1984", ",", "uses", "its", "patented", "ion", "beam", "technology", "to", "develop", ",", "manufacture", "and", "sell", "products", "through", "its", "primary", "business", "units", ":", "(", "i", ")", "trace", "explosives", "detection", "systems", "for", "homeland", "security", ",", "defense", ",", "and", "other", "security", "related", "applications", "and", "(", "ii", ")", "state", "of", "the", "art", "products", "and", "services", "for", "the", "medical", "and", "semiconductor", "industries", ".", "The", "Company", "has", "developed", "and", "begun", "shipments", "of", "handheld", ",", "portable", "trace", "explosive", "detection", "systems", "to", "a", "growing", "number", "of", "locations", "around", "the", "world", "and", "domestically", ".", "Building", "on", "its", "proprietary", "core", "technological", "capabilities", ",", "it", "currently", "is", "working", "on", "the", "development", "of", "several", "next", "generation", "trace", "explosives", "detection", "systems", ".", "The", "Company", "believes", "its", "strong", "background", "and", "experience", "in", "ion", "beam", "technology", "will", "address", "many", "important", "current", "and", "future", "security", "needs", "in", "aviation", ",", "cargo", ",", "transportation", ",", "and", "other", "related", "elements", "of", "the", "government", "and", "commercial", "infrastructure", ".", "In", "addition", "to", "its", "core", "security", "market", "focus", ",", "the", "Company", "has", "a", "line", "of", "medical", "product", "coatings", "business", "activities", "at", "its", "main", "facility", "in", "Wakefield", "Massachusetts", "and", "operates", "state", "of", "the", "art", "ion", "implanters", "at", "both", "the", "Wakefield", "location", "and", "at", "a", "modern", "facility", "in", "Sunnyvale", ",", "California", "providing", "implantation", "services", "to", "the", "semiconductor", "industry", ".", "For", "further", "details", "on", "the", "Company", "and", "its", "products", ",", "please", "visit", "the", "Company", "'s", "website", "at", "www.implantsciences.com", ".", "Implant", "Sciences", "believes", "that", "this", "press", "release", "contains", "forward", "-", "looking", "statements", "as", "that", "term", "is", "defined", "in", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "Such", "forward", "-", "looking", "statements", "are", "subject", "to", "risks", "and", "uncertainties", ".", "Such", "statements", "are", "based", "on", "management", "'s", "current", "expectations", "and", "are", "subject", "to", "facts", "that", "could", "cause", "results", "to", "differ", "materially", "from", "the", "forward", "-", "looking", "statements", ".", "For", "further", "information", "you", "are", "encouraged", "to", "review", "Implant", "Sciences", "'", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", ",", "including", "its", "Annual", "Report", "on", "Form", "10K", "for", "the", "period", "ended", "June", "30", ",", "2006", "and", "Quarterly", "Reports", "on", "Form", "10Q", "for", "the", "periods", "ended", "September", "30", ",", "2006", "and", "December", "31", ",", "2006", ".", "The", "Company", "assumes", "no", "obligation", "to", "update", "the", "information", "contained", "in", "this", "press", "release", ".", "For", "further", "information", "contact", ":", "Implant", "Sciences", "Corporation", "Investor", "Relations", "(", "508", ")", "523", "-", "3141", "or", "(", "781", ")", "246", "-", "0700", "www.implantsciences.com", "Catalyst", "Financial", "Resources", "Thomas", "T", ".", "O", "'", "Brien", ",", "503", "-", "757", "-", "4903", "[email protected]" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
943742-000110465906041629-a06-13802_1ex99d1
EX-99.1 2 a06-13802_1ex99d1.htm EX-99 Exhibit 99.1 Contacts: Fiona Abolade VCampus Corporation (703) 654-7221 [email protected] Jody Miller Prosoft Learning Corporation (602) 794-4121 [email protected] VCampus Completes Acquisition of Prosoft Learning Corporation Acquisition is Expected to Accelerate Growth of Revenues from Professional Certifications RESTON, Va.---June 13, 2006-VCampus Corporation (NASDAQ: VCMP) announced today that it has closed on its acquisition of Prosoft Learning Corporation. The acquisition will enable VCampus to add the market-leading CIW (Certified Internet Web Professional) certification to its Select Partner® Program, as well as offer the CTP (Convergence Technologies Professional) credential, which Prosoft manages for the Telecommunications Industry Association (TIA). VCampus' management will discuss the details of the acquisition and the synergies for future growth in its upcoming conference call for investors. The $2.1 million purchase price was paid with approximately $1.4 million in cash and the balance in certain assumed liabilities and notes payable. VCampus acquired all of the newly issued capital stock of Prosoft at closing. Conference Call and Webcast Nat Kannan, chairman and CEO, and Christopher Nelson, CFO, of VCampus will hold a conference call to discuss the acquisition, as well as recently released financial results. The call is scheduled for 4:30 pm EDT on Tuesday, June 20, 2006. Interested parties may participate by dialing (800) 599-9816. International callers may dial (617) 847-8705. Please enter the passcode 90276140. This call will also be offered via Webcast by Thomson/CCBN and can be accessed at the VCampus Web site at www.vcampus.com. The Webcast is also being distributed through the Thomson StreetEvents Network to both institutional and individual investors. Individual investors can listen to the call at www.fulldisclosure.com, Thomson/CCBN's individual investor portal, powered by StreetEvents. Institutional investors can access the call via Thomson's password-protected event management site, StreetEvents (www.streetevents.com). A replay of the call will be available via telephone from approximately 6:30 pm EDT on June 20, 2006, until 6:30 pm EDT on June 27, 2006. To listen to the replay, participants in the United States and Canada should dial (888) 286-8010, and international participants should dial (617) 801-6888. The conference ID for the replay is 66534907. About VCampus® VCampus Corporation (NASDAQ: VCMP), a provider of end-to-end e-learning services, helps organizations that offer professional certifications and credentials unlock the value of their traditional branded course content. Through its innovative Select Partner® Program, VCampus publishes training content for online delivery to enhance and support professional certification programs. The Select Partner Program provides custom course development, publishing, hosting, e-commerce, reporting, account support and marketing services. With more than a decade of e-learning experience, VCampus has delivered more than 3 million courses to more than 1 million desktops/users in professional credentialing and certification organizations, associations, non-profits, corporations, government agencies and higher education institutions. VCampus distributes a courseware library of more than 3,800 Web-based courses. VCampus Corporation is headquartered in Reston, Virginia. For more information, call 800-915-9298, or visit the VCampus Web site at www.vcampus.com. "VCampus" and "Select Partner" are registered trademarks of VCampus Corporation. Forward-Looking Statements Disclaimer This press release contains forward-looking statements within the meaning of the federal Private Securities Litigation Reform Act of 1995. Statements contained herein that are not statements of historical fact are forward-looking. Without limiting the foregoing, references to future growth or expansion or scheduled product launch dates are forward-looking, and words such as "anticipates", "believes", "could," "estimate", "expect", "intend", "plan", "may", "might", "should", "will" and "would," and other forms of these words or similar words, are intended to identify forward-looking information. You should read statements that contain these words carefully because they discuss our future expectations, contain projections of our future results of operations or of our financial position, or state other forward-looking information. There might be events in the future that we are not able to predict accurately or control, and any forward-looking statements are subject to risks and uncertainties that could cause our actual results to differ materially. These risks and uncertainties include: (1) our history of losses, projection of future losses and our need to raise additional capital; (2) market acceptance of our new and future products; (3) uncertainties regarding the successful implementation of our Select Partner Program or the timely release of products; (4) uncertainties regarding ability to achieve growth organically or otherwise and to consummate and integrate any acquisitions, including Prosoft; (5) growing competition; and (6) our ability to maintain and manage our growth. For additional information regarding risk factors that could affect our future results, please refer to the discussions of "Risk and Uncertainties'" in our Annual Report on Form 10-K for the year ended December 31, 2005, and other SEC filings. About Prosoft Learning Corporation Prosoft Learning Corporation offers content and certifications to enable individuals to develop and validate critical Information and Communications Technology (ICT) workforce skills. Prosoft is a leader in the workforce development arena, working with state and local governments and school districts to provide ICT education solutions for high school and community college students. Prosoft has created and distributes a complete library of classroom and e-learning courses. Prosoft distributes its content through its ComputerPREP division to individuals, schools, colleges, commercial training centers and corporations worldwide. Prosoft owns the CIW job-role certification program for Internet technologies and the CCNT (Certified in Convergent Network Technologies) certification, and manages the CTP (Convergence Technologies Professional) vendor-neutral certification for telecommunications. To learn more, visit www.ProsoftLearning.com, www.ComputerPREP.com, www.CIWcertified.com and www.CTPcertified.com. Except for historical information contained herein, the matters discussed in this press release are statements of a forward-looking nature that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, without limitation, the inability of Prosoft to return any funds to current equity holders in exchange for cancellation of the equity interests under the proposed plan of reorganization; doubts about Prosoft's ability to operate as a going concern; the ability of Prosoft to sustain operations after seeking bankruptcy protection; Prosoft's ability to obtain waivers under its senior note obligations and the terms of such waivers; Prosoft's dependence on the timely development, introduction and acceptance of courses, proprietary certifications and other products; the market for technology training; the acceptance of ICT certifications in general; the continued and improved penetration of the academic, learning center and corporate markets; the successful implementation of strategic relationships; the effect of changing economic conditions; and the other risks and uncertainties outlined in the Company's filings with the Securities and Exchange Commission, including, but not limited to, Prosoft's Annual Report on Form 10-KSB and Quarterly Reports on Form 10-QSB. Prosoft undertakes no obligation to update this forward-looking information.
[ "EX", "-", "99", ".", "1", "2", "a06", "-", "13802", "_", "1ex99d1", ".", "htm", "EX", "-", "99", "Exhibit", "99", ".", "1", "Contacts", ":", "Fiona", "Abolade", "VCampus", "Corporation", "(", "703", ")", "654", "-", "7221", "[email protected]", "Jody", "Miller", "Prosoft", "Learning", "Corporation", "(", "602", ")", "794", "-", "4121", "[email protected]", "VCampus", "Completes", "Acquisition", "of", "Prosoft", "Learning", "Corporation", "Acquisition", "is", "Expected", "to", "Accelerate", "Growth", "of", "Revenues", "from", "Professional", "Certifications", "RESTON", ",", "Va", ".", "---", "June", "13", ",", "2006", "-", "VCampus", "Corporation", "(", "NASDAQ", ":", "VCMP", ")", "announced", "today", "that", "it", "has", "closed", "on", "its", "acquisition", "of", "Prosoft", "Learning", "Corporation", ".", "The", "acquisition", "will", "enable", "VCampus", "to", "add", "the", "market", "-", "leading", "CIW", "(", "Certified", "Internet", "Web", "Professional", ")", "certification", "to", "its", "Select", "Partner", "®", "Program", ",", "as", "well", "as", "offer", "the", "CTP", "(", "Convergence", "Technologies", "Professional", ")", "credential", ",", "which", "Prosoft", "manages", "for", "the", "Telecommunications", "Industry", "Association", "(", "TIA", ")", ".", "VCampus", "'", "management", "will", "discuss", "the", "details", "of", "the", "acquisition", "and", "the", "synergies", "for", "future", "growth", "in", "its", "upcoming", "conference", "call", "for", "investors", ".", "The", "$", "2.1 million", "purchase", "price", "was", "paid", "with", "approximately", "$", "1.4 million", "in", "cash", "and", "the", "balance", "in", "certain", "assumed", "liabilities", "and", "notes", "payable", ".", "VCampus", "acquired", "all", "of", "the", "newly", "issued", "capital", "stock", "of", "Prosoft", "at", "closing", ".", "Conference", "Call", "and", "Webcast", "Nat", "Kannan", ",", "chairman", "and", "CEO", ",", "and", "Christopher", "Nelson", ",", "CFO", ",", "of", "VCampus", "will", "hold", "a", "conference", "call", "to", "discuss", "the", "acquisition", ",", "as", "well", "as", "recently", "released", "financial", "results", ".", "The", "call", "is", "scheduled", "for", "4", ":", "30", "pm", "EDT", "on", "Tuesday", ",", "June", "20", ",", "2006", ".", "Interested", "parties", "may", "participate", "by", "dialing", "(", "800", ")", "599", "-", "9816", ".", "International", "callers", "may", "dial", "(", "617", ")", "847", "-", "8705", ".", "Please", "enter", "the", "passcode", "90276140", ".", "This", "call", "will", "also", "be", "offered", "via", "Webcast", "by", "Thomson", "/", "CCBN", "and", "can", "be", "accessed", "at", "the", "VCampus", "Web", "site", "at", "www.vcampus.com", ".", "The", "Webcast", "is", "also", "being", "distributed", "through", "the", "Thomson", "StreetEvents", "Network", "to", "both", "institutional", "and", "individual", "investors", ".", "Individual", "investors", "can", "listen", "to", "the", "call", "at", "www.fulldisclosure.com", ",", "Thomson", "/", "CCBN", "'s", "individual", "investor", "portal", ",", "powered", "by", "StreetEvents", ".", "Institutional", "investors", "can", "access", "the", "call", "via", "Thomson", "'s", "password", "-", "protected", "event", "management", "site", ",", "StreetEvents", "(", "www.streetevents.com", ")", ".", "A", "replay", "of", "the", "call", "will", "be", "available", "via", "telephone", "from", "approximately", "6", ":", "30", "pm", "EDT", "on", "June", "20", ",", "2006", ",", "until", "6", ":", "30", "pm", "EDT", "on", "June", "27", ",", "2006", ".", "To", "listen", "to", "the", "replay", ",", "participants", "in", "the", "United", "States", "and", "Canada", "should", "dial", "(", "888", ")", "286", "-", "8010", ",", "and", "international", "participants", "should", "dial", "(", "617", ")", "801", "-", "6888", ".", "The", "conference", "ID", "for", "the", "replay", "is", "66534907", ".", "About", "VCampus", "®", "VCampus", "Corporation", "(", "NASDAQ", ":", "VCMP", ")", ",", "a", "provider", "of", "end", "-", "to", "-", "end", "e", "-", "learning", "services", ",", "helps", "organizations", "that", "offer", "professional", "certifications", "and", "credentials", "unlock", "the", "value", "of", "their", "traditional", "branded", "course", "content", ".", "Through", "its", "innovative", "Select", "Partner", "®", "Program", ",", "VCampus", "publishes", "training", "content", "for", "online", "delivery", "to", "enhance", "and", "support", "professional", "certification", "programs", ".", "The", "Select", "Partner", "Program", "provides", "custom", "course", "development", ",", "publishing", ",", "hosting", ",", "e", "-", "commerce", ",", "reporting", ",", "account", "support", "and", "marketing", "services", ".", "With", "more", "than", "a", "decade", "of", "e", "-", "learning", "experience", ",", "VCampus", "has", "delivered", "more", "than", "3", "million", "courses", "to", "more", "than", "1", "million", "desktops", "/", "users", "in", "professional", "credentialing", "and", "certification", "organizations", ",", "associations", ",", "non", "-", "profits", ",", "corporations", ",", "government", "agencies", "and", "higher", "education", "institutions", ".", "VCampus", "distributes", "a", "courseware", "library", "of", "more", "than", "3,800", "Web", "-", "based", "courses", ".", "VCampus", "Corporation", "is", "headquartered", "in", "Reston", ",", "Virginia", ".", "For", "more", "information", ",", "call", "800", "-", "915", "-", "9298", ",", "or", "visit", "the", "VCampus", "Web", "site", "at", "www.vcampus.com", ".", "\"", "VCampus", "\"", "and", "\"", "Select", "Partner", "\"", "are", "registered", "trademarks", "of", "VCampus", "Corporation", ".", "Forward", "-", "Looking", "Statements", "Disclaimer", "This", "press", "release", "contains", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "the", "federal", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "Statements", "contained", "herein", "that", "are", "not", "statements", "of", "historical", "fact", "are", "forward", "-", "looking", ".", "Without", "limiting", "the", "foregoing", ",", "references", "to", "future", "growth", "or", "expansion", "or", "scheduled", "product", "launch", "dates", "are", "forward", "-", "looking", ",", "and", "words", "such", "as", "\"", "anticipates", "\"", ",", "\"", "believes", "\"", ",", "\"", "could", ",", "\"", "\"", "estimate", "\"", ",", "\"", "expect", "\"", ",", "\"", "intend", "\"", ",", "\"", "plan", "\"", ",", "\"", "may", "\"", ",", "\"", "might", "\"", ",", "\"", "should", "\"", ",", "\"", "will", "\"", "and", "\"", "would", ",", "\"", "and", "other", "forms", "of", "these", "words", "or", "similar", "words", ",", "are", "intended", "to", "identify", "forward", "-", "looking", "information", ".", "You", "should", "read", "statements", "that", "contain", "these", "words", "carefully", "because", "they", "discuss", "our", "future", "expectations", ",", "contain", "projections", "of", "our", "future", "results", "of", "operations", "or", "of", "our", "financial", "position", ",", "or", "state", "other", "forward", "-", "looking", "information", ".", "There", "might", "be", "events", "in", "the", "future", "that", "we", "are", "not", "able", "to", "predict", "accurately", "or", "control", ",", "and", "any", "forward", "-", "looking", "statements", "are", "subject", "to", "risks", "and", "uncertainties", "that", "could", "cause", "our", "actual", "results", "to", "differ", "materially", ".", "These", "risks", "and", "uncertainties", "include", ":", "(", "1", ")", "our", "history", "of", "losses", ",", "projection", "of", "future", "losses", "and", "our", "need", "to", "raise", "additional", "capital", ";", "(", "2", ")", "market", "acceptance", "of", "our", "new", "and", "future", "products", ";", "(", "3", ")", "uncertainties", "regarding", "the", "successful", "implementation", "of", "our", "Select", "Partner", "Program", "or", "the", "timely", "release", "of", "products", ";", "(", "4", ")", "uncertainties", "regarding", "ability", "to", "achieve", "growth", "organically", "or", "otherwise", "and", "to", "consummate", "and", "integrate", "any", "acquisitions", ",", "including", "Prosoft", ";", "(", "5", ")", "growing", "competition", ";", "and", "(", "6", ")", "our", "ability", "to", "maintain", "and", "manage", "our", "growth", ".", "For", "additional", "information", "regarding", "risk", "factors", "that", "could", "affect", "our", "future", "results", ",", "please", "refer", "to", "the", "discussions", "of", "\"", "Risk", "and", "Uncertainties", "'", "\"", "in", "our", "Annual", "Report", "on", "Form", "10", "-", "K", "for", "the", "year", "ended", "December", "31", ",", "2005", ",", "and", "other", "SEC", "filings", ".", "About", "Prosoft", "Learning", "Corporation", "Prosoft", "Learning", "Corporation", "offers", "content", "and", "certifications", "to", "enable", "individuals", "to", "develop", "and", "validate", "critical", "Information", "and", "Communications", "Technology", "(", "ICT", ")", "workforce", "skills", ".", "Prosoft", "is", "a", "leader", "in", "the", "workforce", "development", "arena", ",", "working", "with", "state", "and", "local", "governments", "and", "school", "districts", "to", "provide", "ICT", "education", "solutions", "for", "high", "school", "and", "community", "college", "students", ".", "Prosoft", "has", "created", "and", "distributes", "a", "complete", "library", "of", "classroom", "and", "e", "-", "learning", "courses", ".", "Prosoft", "distributes", "its", "content", "through", "its", "ComputerPREP", "division", "to", "individuals", ",", "schools", ",", "colleges", ",", "commercial", "training", "centers", "and", "corporations", "worldwide", ".", "Prosoft", "owns", "the", "CIW", "job", "-", "role", "certification", "program", "for", "Internet", "technologies", "and", "the", "CCNT", "(", "Certified", "in", "Convergent", "Network", "Technologies", ")", "certification", ",", "and", "manages", "the", "CTP", "(", "Convergence", "Technologies", "Professional", ")", "vendor", "-", "neutral", "certification", "for", "telecommunications", ".", "To", "learn", "more", ",", "visit", "www.ProsoftLearning.com", ",", "www.ComputerPREP.com", ",", "www.CIWcertified.com", "and", "www.CTPcertified.com", ".", "Except", "for", "historical", "information", "contained", "herein", ",", "the", "matters", "discussed", "in", "this", "press", "release", "are", "statements", "of", "a", "forward", "-", "looking", "nature", "that", "are", "subject", "to", "certain", "risks", "and", "uncertainties", "that", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "projected", ".", "Such", "risks", "and", "uncertainties", "include", ",", "without", "limitation", ",", "the", "inability", "of", "Prosoft", "to", "return", "any", "funds", "to", "current", "equity", "holders", "in", "exchange", "for", "cancellation", "of", "the", "equity", "interests", "under", "the", "proposed", "plan", "of", "reorganization", ";", "doubts", "about", "Prosoft", "'s", "ability", "to", "operate", "as", "a", "going", "concern", ";", "the", "ability", "of", "Prosoft", "to", "sustain", "operations", "after", "seeking", "bankruptcy", "protection", ";", "Prosoft", "'s", "ability", "to", "obtain", "waivers", "under", "its", "senior", "note", "obligations", "and", "the", "terms", "of", "such", "waivers", ";", "Prosoft", "'s", "dependence", "on", "the", "timely", "development", ",", "introduction", "and", "acceptance", "of", "courses", ",", "proprietary", "certifications", "and", "other", "products", ";", "the", "market", "for", "technology", "training", ";", "the", "acceptance", "of", "ICT", "certifications", "in", "general", ";", "the", "continued", "and", "improved", "penetration", "of", "the", "academic", ",", "learning", "center", "and", "corporate", "markets", ";", "the", "successful", "implementation", "of", "strategic", "relationships", ";", "the", "effect", "of", "changing", "economic", "conditions", ";", "and", "the", "other", "risks", "and", "uncertainties", "outlined", "in", "the", "Company", "'s", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", ",", "including", ",", "but", "not", "limited", "to", ",", "Prosoft", "'s", "Annual", "Report", "on", "Form", "10", "-", "KSB", "and", "Quarterly", "Reports", "on", "Form", "10", "-", "QSB", ".", "Prosoft", "undertakes", "no", "obligation", "to", "update", "this", "forward", "-", "looking", "information", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
932699-000117152007000587-ex99-1
EX-99.1 7 ex99-1.txt PRESS RELEASE EXHIBIT 99.1 News Release FOR IMMEDIATE RELEASE Contacts: Chuck Coppa, CFO or Lyle Jensen, CEO GreenMan Technologies, 800-526-0860 John Nesbett, Institutional Marketing Services, Inc. 203-972-9200 GreenMan Technologies Acquire Welch Products, Inc. Acquisition Leverages GreenMan's Crumb Rubber Manufacturing Capabilities And Creates Vertically Integrated Products Subsidiary With Enhanced Growth Opportunity DES MOINES, Iowa - October 2, 2007 - GreenMan Technologies, Inc. (OTCBB: GMTI), a leading recycler of over 12 million scrap tires per year in the United States, today announced it has acquired Welch Products, Inc. The October 1, 2007 transaction was structured as a share exchange in which 100 percent of Welch Products' common stock will be exchanged for 8 million shares of GreenMan's common stock. GreenMan has completed the acquisition of approximately 98 percent of Welch's common stock and expects to acquire the remaining Welch common stock over the next few days. Headquartered in Carlisle, Iowa, Welch Products specializes in design, product development, and manufacturing of environmentally responsible products using recycled materials, primarily recycled rubber. The company's patented products and processes include playground safety tiles, roadside anti-vegetation products, construction molds and highway guard-rail rubber spacer blocks. Through its recent acquisition of Playtribe, Inc., Welch also provides innovative playground design, equipment and installation. Welch Products has been a major crumb rubber customer of GreenMan for the past several years. For the trailing twelve months ended June 30, 2007, Welch Products and Playtribe had combined unaudited revenues of approximately $3.5 million. Based on customer interest and quote activity, GreenMan expects continued growth in the second half of calendar 2007 and significant growth in calendar 2008 when Welch's EBITDA (earnings before interest, tax, depreciation and amortization) and net income are expected to be accretive. Through the company's National Safe Surface Initiative(R), Welch Products has created an emerging product line and unique patented marketing program focused on: (1) improving playground safety and accessibility; (2) lowering playground maintenance costs; and (3) mitigating playground liability risks for schools, community and state parks, and child care centers. Welch's Duromat Extended LifeTM playground safety tiles are manufactured with a patented "cold-cure" process that allows high quality crumb rubber tiles to have a unique long life, even in extreme hot and cold temperatures. Additionally, a new market requirement created by the American Disabilities Act ("ADA") requires schools and other public playgrounds to provide all children access to outdoor play. Welch Products believes that loose-fill surfacing (e.g., wood chips, mulch, sand, and pea gravel) is rarely maintained to proper safety levels and does not allow children in wheelchairs or with other disabilities to easily use playground equipment. Welch Products' playground tiles are fully-ADA compliant and, during independent tests performed by the National Program for Playground Safety, demonstrated a 75 percent reduction in emergency room injuries given proper supervision. The acquisition of PlayTribe, Inc., an innovative playground design, equipment, and installation company, provides playground equipment and recreational site amenities that encourage safe and imaginative play. Welch and PlayTribe are pioneering a unique, high-value-add sales strategy which circumvents the traditional distributor channels and sells directly to the end customer. This strategy has created enhanced customer satisfaction attributable to the companies' comprehensive approach to providing an overall solution for compliance, safety, accessibility, and turn-key quality installation. Lyle Jensen, President and Chief Executive Officer of GreenMan Technologies, states, "Welch Products has developed strong brand names and high levels of customer satisfaction in the playground marketplace which supports a premium price point given the products' compelling safety profile and endorsements by various public and private organizations. The marriage of GreenMan and Welch/Playtribe allows both companies to build on each other's strengths and opens up a new billion dollar market". Welch Products' Interim Chief Executive Officer & Managing Partner of First Continental Group ("FCG"), Bruce Boland commented, "Our Welch and FCG people have spent a great deal of human and financial resources in developing the Welch Overall Solutions(R) Project. The objective was to prove the value of sustainable value-add products made from used rubber that put people to work, provide safety for children, and prove to be a wise use of taxpayer dollars. We believe the end-result of this merger will give the Iowa Legislature on both sides of the aisle, the National Program for Playground Safety from Cedar Falls, Iowa, and our hard working employees who designed and developed this unique project within the borders of Iowa, the recognition they justly deserve". Mr. Boland added, "We feel this merger with GreenMan is based on a number of sound business decisions that match up the strengths of both companies and we are comfortable that Lyle Jensen can provide the necessary leadership to drive this next phase of our business model as we look to a stronger calendar 2008. In our view, this adds up to a win-win for our customers, school children, bi-partisan legislatures, and all shareholders going forward. We are very excited about the future of the combined companies and will continue to help our combined investment grow". Please join us Wednesday, October 3, 2007, at 2:00 PM EDT for a conference call in which we will discuss the Welch acquisition in more detail. To participate, please call 1-888-789-0150 and ask for the GreenMan call. A replay of the conference call can be accessed until 11:50 PM on October 31, 2007 by calling 1-800-408-3053 and entering pass code 3238370. About GreenMan Technologies GreenMan Technologies pursues technological processes and unique marketing programs to transform recycled materials into renewable fuel, alternative energy, recycled feedstock, and innovative recycled products. Over twelve million tires are collected and recycled annually into tire-derived fuel, tire-derived aggregate, and crumb rubber feedstock for playground, athletic track and field, and road surfacing. Through the company's Welch Products subsidiary, the company develops and markets branded products and services that provide schools and other political subdivisions viable solutions for safety, compliance, and accessibility. To learn more about all of the companies, please visit the following websites: www.greenman.biz www.welchproducts.com www.nssi-usa.com www.playtribe.com "Safe Harbor" Statement: Under the Private Securities Litigation Reform Act With the exception of the historical information contained in this news release, the matters described herein contain "forward-looking" statements that involve risk and uncertainties that may individually or collectively impact the matters herein described, including but not limited to the possibility that we may not be able to secure the financing necessary to return to profitability, the possibility that the delisting of our stock by the American Stock Exchange could substantially limit our stock's future liquidity and our ability to raise capital, the possibility that we may not realize the benefits of product acceptance, economic, competitive, governmental, seasonal, management, technological and/or other factors outside the control of the Company, which are detailed from time to time in the Company's SEC reports, including the annual report on Form 10-KSB for the fiscal period ended September 30, 2006. The Company disclaims any intent or obligation to update these "forward-looking" statements.
[ "EX", "-", "99", ".", "1", "7", "ex99", "-", "1", ".", "txt", "PRESS", "RELEASE", "EXHIBIT", "99", ".", "1", "News", "Release", "FOR", "IMMEDIATE", "RELEASE", "Contacts", ":", "Chuck", "Coppa", ",", "CFO", "or", "Lyle", "Jensen", ",", "CEO", "GreenMan", "Technologies", ",", "800", "-", "526", "-", "0860", "John", "Nesbett", ",", "Institutional", "Marketing", "Services", ",", "Inc", ".", "203", "-", "972", "-", "9200", "GreenMan", "Technologies", "Acquire", "Welch", "Products", ",", "Inc", ".", "Acquisition", "Leverages", "GreenMan", "'s", "Crumb", "Rubber", "Manufacturing", "Capabilities", "And", "Creates", "Vertically", "Integrated", "Products", "Subsidiary", "With", "Enhanced", "Growth", "Opportunity", "DES", "MOINES", ",", "Iowa", "-", "October", "2", ",", "2007", "-", "GreenMan", "Technologies", ",", "Inc", ".", "(", "OTCBB", ":", "GMTI", ")", ",", "a", "leading", "recycler", "of", "over", "12", "million", "scrap", "tires", "per", "year", "in", "the", "United", "States", ",", "today", "announced", "it", "has", "acquired", "Welch", "Products", ",", "Inc", ".", "The", "October", "1", ",", "2007", "transaction", "was", "structured", "as", "a", "share", "exchange", "in", "which", "100", "percent", "of", "Welch", "Products", "'", "common", "stock", "will", "be", "exchanged", "for", "8", "million", "shares", "of", "GreenMan", "'s", "common", "stock", ".", "GreenMan", "has", "completed", "the", "acquisition", "of", "approximately", "98", "percent", "of", "Welch", "'s", "common", "stock", "and", "expects", "to", "acquire", "the", "remaining", "Welch", "common", "stock", "over", "the", "next", "few", "days", ".", "Headquartered", "in", "Carlisle", ",", "Iowa", ",", "Welch", "Products", "specializes", "in", "design", ",", "product", "development", ",", "and", "manufacturing", "of", "environmentally", "responsible", "products", "using", "recycled", "materials", ",", "primarily", "recycled", "rubber", ".", "The", "company", "'s", "patented", "products", "and", "processes", "include", "playground", "safety", "tiles", ",", "roadside", "anti", "-", "vegetation", "products", ",", "construction", "molds", "and", "highway", "guard", "-", "rail", "rubber", "spacer", "blocks", ".", "Through", "its", "recent", "acquisition", "of", "Playtribe", ",", "Inc", ".", ",", "Welch", "also", "provides", "innovative", "playground", "design", ",", "equipment", "and", "installation", ".", "Welch", "Products", "has", "been", "a", "major", "crumb", "rubber", "customer", "of", "GreenMan", "for", "the", "past", "several", "years", ".", "For", "the", "trailing", "twelve", "months", "ended", "June", "30", ",", "2007", ",", "Welch", "Products", "and", "Playtribe", "had", "combined", "unaudited", "revenues", "of", "approximately", "$", "3.5 million", ".", "Based", "on", "customer", "interest", "and", "quote", "activity", ",", "GreenMan", "expects", "continued", "growth", "in", "the", "second", "half", "of", "calendar", "2007", "and", "significant", "growth", "in", "calendar", "2008", "when", "Welch", "'s", "EBITDA", "(", "earnings", "before", "interest", ",", "tax", ",", "depreciation", "and", "amortization", ")", "and", "net", "income", "are", "expected", "to", "be", "accretive", ".", "Through", "the", "company", "'s", "National", "Safe", "Surface", "Initiative", "(", "R", ")", ",", "Welch", "Products", "has", "created", "an", "emerging", "product", "line", "and", "unique", "patented", "marketing", "program", "focused", "on", ":", "(", "1", ")", "improving", "playground", "safety", "and", "accessibility", ";", "(", "2", ")", "lowering", "playground", "maintenance", "costs", ";", "and", "(", "3", ")", "mitigating", "playground", "liability", "risks", "for", "schools", ",", "community", "and", "state", "parks", ",", "and", "child", "care", "centers", ".", "Welch", "'s", "Duromat", "Extended", "LifeTM", "playground", "safety", "tiles", "are", "manufactured", "with", "a", "patented", "\"", "cold", "-", "cure", "\"", "process", "that", "allows", "high", "quality", "crumb", "rubber", "tiles", "to", "have", "a", "unique", "long", "life", ",", "even", "in", "extreme", "hot", "and", "cold", "temperatures", ".", "Additionally", ",", "a", "new", "market", "requirement", "created", "by", "the", "American", "Disabilities", "Act", "(", "\"", "ADA", "\"", ")", "requires", "schools", "and", "other", "public", "playgrounds", "to", "provide", "all", "children", "access", "to", "outdoor", "play", ".", "Welch", "Products", "believes", "that", "loose", "-", "fill", "surfacing", "(", "e", ".", "g", ".", ",", "wood", "chips", ",", "mulch", ",", "sand", ",", "and", "pea", "gravel", ")", "is", "rarely", "maintained", "to", "proper", "safety", "levels", "and", "does", "not", "allow", "children", "in", "wheelchairs", "or", "with", "other", "disabilities", "to", "easily", "use", "playground", "equipment", ".", "Welch", "Products", "'", "playground", "tiles", "are", "fully", "-", "ADA", "compliant", "and", ",", "during", "independent", "tests", "performed", "by", "the", "National", "Program", "for", "Playground", "Safety", ",", "demonstrated", "a", "75", "percent", "reduction", "in", "emergency", "room", "injuries", "given", "proper", "supervision", ".", "The", "acquisition", "of", "PlayTribe", ",", "Inc", ".", ",", "an", "innovative", "playground", "design", ",", "equipment", ",", "and", "installation", "company", ",", "provides", "playground", "equipment", "and", "recreational", "site", "amenities", "that", "encourage", "safe", "and", "imaginative", "play", ".", "Welch", "and", "PlayTribe", "are", "pioneering", "a", "unique", ",", "high", "-", "value", "-", "add", "sales", "strategy", "which", "circumvents", "the", "traditional", "distributor", "channels", "and", "sells", "directly", "to", "the", "end", "customer", ".", "This", "strategy", "has", "created", "enhanced", "customer", "satisfaction", "attributable", "to", "the", "companies", "'", "comprehensive", "approach", "to", "providing", "an", "overall", "solution", "for", "compliance", ",", "safety", ",", "accessibility", ",", "and", "turn", "-", "key", "quality", "installation", ".", "Lyle", "Jensen", ",", "President", "and", "Chief", "Executive", "Officer", "of", "GreenMan", "Technologies", ",", "states", ",", "\"", "Welch", "Products", "has", "developed", "strong", "brand", "names", "and", "high", "levels", "of", "customer", "satisfaction", "in", "the", "playground", "marketplace", "which", "supports", "a", "premium", "price", "point", "given", "the", "products", "'", "compelling", "safety", "profile", "and", "endorsements", "by", "various", "public", "and", "private", "organizations", ".", "The", "marriage", "of", "GreenMan", "and", "Welch", "/", "Playtribe", "allows", "both", "companies", "to", "build", "on", "each", "other", "'s", "strengths", "and", "opens", "up", "a", "new", "billion", "dollar", "market", "\"", ".", "Welch", "Products", "'", "Interim", "Chief", "Executive", "Officer", "&", "Managing", "Partner", "of", "First", "Continental", "Group", "(", "\"", "FCG", "\"", ")", ",", "Bruce", "Boland", "commented", ",", "\"", "Our", "Welch", "and", "FCG", "people", "have", "spent", "a", "great", "deal", "of", "human", "and", "financial", "resources", "in", "developing", "the", "Welch", "Overall", "Solutions", "(", "R", ")", "Project", ".", "The", "objective", "was", "to", "prove", "the", "value", "of", "sustainable", "value", "-", "add", "products", "made", "from", "used", "rubber", "that", "put", "people", "to", "work", ",", "provide", "safety", "for", "children", ",", "and", "prove", "to", "be", "a", "wise", "use", "of", "taxpayer", "dollars", ".", "We", "believe", "the", "end", "-", "result", "of", "this", "merger", "will", "give", "the", "Iowa", "Legislature", "on", "both", "sides", "of", "the", "aisle", ",", "the", "National", "Program", "for", "Playground", "Safety", "from", "Cedar", "Falls", ",", "Iowa", ",", "and", "our", "hard", "working", "employees", "who", "designed", "and", "developed", "this", "unique", "project", "within", "the", "borders", "of", "Iowa", ",", "the", "recognition", "they", "justly", "deserve", "\"", ".", "Mr", ".", "Boland", "added", ",", "\"", "We", "feel", "this", "merger", "with", "GreenMan", "is", "based", "on", "a", "number", "of", "sound", "business", "decisions", "that", "match", "up", "the", "strengths", "of", "both", "companies", "and", "we", "are", "comfortable", "that", "Lyle", "Jensen", "can", "provide", "the", "necessary", "leadership", "to", "drive", "this", "next", "phase", "of", "our", "business", "model", "as", "we", "look", "to", "a", "stronger", "calendar", "2008", ".", "In", "our", "view", ",", "this", "adds", "up", "to", "a", "win", "-", "win", "for", "our", "customers", ",", "school", "children", ",", "bi", "-", "partisan", "legislatures", ",", "and", "all", "shareholders", "going", "forward", ".", "We", "are", "very", "excited", "about", "the", "future", "of", "the", "combined", "companies", "and", "will", "continue", "to", "help", "our", "combined", "investment", "grow", "\"", ".", "Please", "join", "us", "Wednesday", ",", "October", "3", ",", "2007", ",", "at", "2", ":", "00", "PM", "EDT", "for", "a", "conference", "call", "in", "which", "we", "will", "discuss", "the", "Welch", "acquisition", "in", "more", "detail", ".", "To", "participate", ",", "please", "call", "1", "-", "888", "-", "789", "-", "0150", "and", "ask", "for", "the", "GreenMan", "call", ".", "A", "replay", "of", "the", "conference", "call", "can", "be", "accessed", "until", "11", ":", "50", "PM", "on", "October", "31", ",", "2007", "by", "calling", "1", "-", "800", "-", "408", "-", "3053", "and", "entering", "pass", "code", "3238370", ".", "About", "GreenMan", "Technologies", "GreenMan", "Technologies", "pursues", "technological", "processes", "and", "unique", "marketing", "programs", "to", "transform", "recycled", "materials", "into", "renewable", "fuel", ",", "alternative", "energy", ",", "recycled", "feedstock", ",", "and", "innovative", "recycled", "products", ".", "Over", "twelve", "million", "tires", "are", "collected", "and", "recycled", "annually", "into", "tire", "-", "derived", "fuel", ",", "tire", "-", "derived", "aggregate", ",", "and", "crumb", "rubber", "feedstock", "for", "playground", ",", "athletic", "track", "and", "field", ",", "and", "road", "surfacing", ".", "Through", "the", "company", "'s", "Welch", "Products", "subsidiary", ",", "the", "company", "develops", "and", "markets", "branded", "products", "and", "services", "that", "provide", "schools", "and", "other", "political", "subdivisions", "viable", "solutions", "for", "safety", ",", "compliance", ",", "and", "accessibility", ".", "To", "learn", "more", "about", "all", "of", "the", "companies", ",", "please", "visit", "the", "following", "websites", ":", "www.greenman.biz", "www.welchproducts.com", "www.nssi-usa.com", "www.playtribe.com", "\"", "Safe", "Harbor", "\"", "Statement", ":", "Under", "the", "Private", "Securities", "Litigation", "Reform", "Act", "With", "the", "exception", "of", "the", "historical", "information", "contained", "in", "this", "news", "release", ",", "the", "matters", "described", "herein", "contain", "\"", "forward", "-", "looking", "\"", "statements", "that", "involve", "risk", "and", "uncertainties", "that", "may", "individually", "or", "collectively", "impact", "the", "matters", "herein", "described", ",", "including", "but", "not", "limited", "to", "the", "possibility", "that", "we", "may", "not", "be", "able", "to", "secure", "the", "financing", "necessary", "to", "return", "to", "profitability", ",", "the", "possibility", "that", "the", "delisting", "of", "our", "stock", "by", "the", "American", "Stock", "Exchange", "could", "substantially", "limit", "our", "stock", "'s", "future", "liquidity", "and", "our", "ability", "to", "raise", "capital", ",", "the", "possibility", "that", "we", "may", "not", "realize", "the", "benefits", "of", "product", "acceptance", ",", "economic", ",", "competitive", ",", "governmental", ",", "seasonal", ",", "management", ",", "technological", "and", "/", "or", "other", "factors", "outside", "the", "control", "of", "the", "Company", ",", "which", "are", "detailed", "from", "time", "to", "time", "in", "the", "Company", "'s", "SEC", "reports", ",", "including", "the", "annual", "report", "on", "Form", "10", "-", "KSB", "for", "the", "fiscal", "period", "ended", "September", "30", ",", "2006", ".", "The", "Company", "disclaims", "any", "intent", "or", "obligation", "to", "update", "these", "\"", "forward", "-", "looking", "\"", "statements", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "B-Generic_Info.ANNUAL_REVENUES", "I-Generic_Info.ANNUAL_REVENUES", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
72573-000095014218001968-eh1801108_ex9901
EX-99.1 2 eh1801108_ex9901.htm EXHIBIT 99.1 EXHIBIT 99.1 FINAL MOVADO GROUP COMPLETES ACQUISITION OF MVMT Paramus, NJ - October 1, 2018 -- Movado Group, Inc. (NYSE: MOV) (the "Company") today announced that it has completed its previously announced acquisition of MVMT Watches Inc., the owner of MVMT ("MVMT"), a global aspirational lifestyle brand. The purchase price was comprised of an initial payment of approximately $100 million, or approximately $85 million net of tax benefits that are anticipated to be generated from the acquisition, subject to working capital and other closing adjustments, and two future contingent payments that combined could total up to an additional $100 million before tax benefits. The exact amount of the future payments will be determined by MVMT's future financial performance with no minimum required future payment. The acquisition was funded through cash on hand, although the Company anticipates replenishing a portion of its cash through approximately $50 million of borrowings under its revolving credit facility by October 31, 2018. As previously announced, the benefits of the transaction include: - Adds a category-leading millennial brand created though world-class digital execution that has a strong track record of growth, category-leading site traffic and growing customer relationships that will position Movado Group to accelerate its digital strategy. - Provides a significant global growth opportunity for Movado Group's portfolio as MVMT continues to cross-sell products within its existing portfolio, expand product offerings within its core categories of watches, sunglasses and accessories, and grow its presence in new markets through its direct-to-consumer and wholesale business. - Allows MVMT to benefit from Movado Group's global infrastructure and distribution network to help accelerate MVMT's expansion in untapped categories, channels and geographies. - Increases Movado Group's exposure to both aspirational and millennial consumers through MVMT's differentiated and affordable watches, sunglasses and accessories. - Strengthens Movado Group's digital and direct-to-consumer capabilities. In its last fiscal year ended December 31, 2017, MVMT achieved revenue of approximately $71 million. Movado Group expects the transaction to be accretive to its results for the fiscal year ending January 31, 2019, exclusive of transaction-related charges and the amortization of anticipated purchase accounting adjustments. Efraim Grinberg, Movado Group's Chairman and Chief Executive Officer, stated, "We are pleased to officially welcome MVMT to Movado Group having closed on this strategic acquisition. MVMT provides many benefits to our Company - we add a strong digital brand to our portfolio; broaden our customer reach to millennials, an important consumer segment; and increase the sales and earnings potential of our Company with an acquisition that we expect will be accretive to fiscal 2019 results. We expect to leverage the strengths of MVMT combined with our scale and operating platform to take the brand to a greater level of growth. With the closing of this acquisition, we are well positioned to capitalize on the full potential of our owned and licensed brands portfolio as we focus on delivering sustainable long-term growth". Jake Kassan, Co-founder and Chief Executive Officer of MVMT, stated, "I am excited to officially be part of the Movado team. The entire MVMT team shares in my excitement as we will now be able to benefit from the resources and brand expertise of Movado Group that will help MVMT achieve our long-term objectives". Kramer LaPlante, Co-founder and Chief Operating Officer of MVMT, added, "I, along with the 39 associates at MVMT, share in the enthusiasm to be part of Movado Group. We expect Movado Group's scale, relationships and expertise in the timepiece category to accelerate the growth and development of our business as we maximize both businesses' focus on product innovation, unique design and value for the consumer". CONTACT: ICR, Inc. Investors: Rachel Schacter/Allison Malkin 203-682-8200 Media: Alecia Pulman/Brittany Fraser [email protected] / [email protected] 203-682-8200 Movado Group, Inc. designs, sources, and distributes MOVADO®, MVMT®, OLIVIA BURTON®, EBEL®, CONCORD®, COACH®, TOMMY HILFIGER®, HUGO BOSS®, LACOSTE®, SCUDERIA FERRARI®, REBECCA MINKOFF® and URI MINKOFF® watches worldwide, and operates Movado company stores in the United States and Canada. Safe Harbor This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "expects", "anticipates", "believes", "targets", "goals", "projects", "intends", "plans", "seeks", "estimates", "may", "will", "should" and variations of such words and similar expressions. Similarly, statements in this press release that describe the Company's business strategy, outlook, objectives, plans, intentions or goals are also forward-looking statements. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the Company's actual results, performance or achievements and levels of future dividends to differ materially from those expressed in, or implied by, these statements. These risks and uncertainties may include, but are not limited to, general economic and business conditions which may impact disposable income of consumers in the United States and the other significant markets (including Europe) where the Company's products are sold, uncertainty regarding such economic and business conditions, trends in consumer debt levels and bad debt write-offs, general uncertainty related to possible terrorist attacks, natural disasters, the stability of the European Union (including the impact of the June 23, 2016 referendum advising that the United Kingdom exit from the European Union) and defaults on or downgrades of sovereign debt and the impact of any of those events on consumer spending, changes in consumer preferences and popularity of particular designs, new product development and introduction, the ability of the Company to successfully implement its business strategies, competitive products and pricing, the impact of "smart" watches and other wearable tech products on the traditional watch market, seasonality, availability of alternative sources of supply in the case of the loss of any significant supplier or any supplier's inability to fulfill the Company's orders, the loss of or curtailed sales to significant customers, the Company's dependence on key employees and officers, the ability to successfully integrate the operations of acquired businesses without disruption to other business activities, the continuation of the company's major warehouse and distribution centers, the continuation of licensing arrangements with third parties, losses possible from pending or future litigation, the ability to secure and protect trademarks, patents and other intellectual property rights, the ability to lease new stores on suitable terms in desired markets and to complete construction on a timely basis, the ability of the Company to successfully manage its expenses on a continuing basis, information systems failure or breaches of network security, the continued availability to the Company of financing and credit on favorable terms, business disruptions, disease, general risks associated with doing business outside the United States including, without limitation, import duties, tariffs, quotas, political and economic stability, changes to existing laws or regulations, and success of hedging strategies with respect to currency exchange rate fluctuations, and the other factors discussed in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. These statements reflect the Company's current beliefs and are based upon information currently available to it. Be advised that developments subsequent to this press release are likely to cause these statements to become outdated with the passage of time. The Company assumes no duty to update its forward looking statements and this release shall not be construed to indicate the assumption by the Company of any duty to update its outlook in the future.
[ "EX", "-", "99", ".", "1", "2", "eh1801108", "_", "ex9901", ".", "htm", "EXHIBIT", "99", ".", "1", "EXHIBIT", "99", ".", "1", "FINAL", "MOVADO", "GROUP", "COMPLETES", "ACQUISITION", "OF", "MVMT", "Paramus", ",", "NJ", "-", "October", "1", ",", "2018", "--", "Movado", "Group", ",", "Inc", ".", "(", "NYSE", ":", "MOV", ")", "(", "the", "\"", "Company", "\"", ")", "today", "announced", "that", "it", "has", "completed", "its", "previously", "announced", "acquisition", "of", "MVMT", "Watches", "Inc", ".", ",", "the", "owner", "of", "MVMT", "(", "\"", "MVMT", "\"", ")", ",", "a", "global", "aspirational", "lifestyle", "brand", ".", "The", "purchase", "price", "was", "comprised", "of", "an", "initial", "payment", "of", "approximately", "$", "100 million", ",", "or", "approximately", "$", "85 million", "net", "of", "tax", "benefits", "that", "are", "anticipated", "to", "be", "generated", "from", "the", "acquisition", ",", "subject", "to", "working", "capital", "and", "other", "closing", "adjustments", ",", "and", "two", "future", "contingent", "payments", "that", "combined", "could", "total", "up", "to", "an", "additional", "$", "100 million", "before", "tax", "benefits", ".", "The", "exact", "amount", "of", "the", "future", "payments", "will", "be", "determined", "by", "MVMT", "'s", "future", "financial", "performance", "with", "no", "minimum", "required", "future", "payment", ".", "The", "acquisition", "was", "funded", "through", "cash", "on", "hand", ",", "although", "the", "Company", "anticipates", "replenishing", "a", "portion", "of", "its", "cash", "through", "approximately", "$", "50 million", "of", "borrowings", "under", "its", "revolving", "credit", "facility", "by", "October", "31", ",", "2018", ".", "As", "previously", "announced", ",", "the", "benefits", "of", "the", "transaction", "include", ":", "-", "Adds", "a", "category", "-", "leading", "millennial", "brand", "created", "though", "world", "-", "class", "digital", "execution", "that", "has", "a", "strong", "track", "record", "of", "growth", ",", "category", "-", "leading", "site", "traffic", "and", "growing", "customer", "relationships", "that", "will", "position", "Movado", "Group", "to", "accelerate", "its", "digital", "strategy", ".", "-", "Provides", "a", "significant", "global", "growth", "opportunity", "for", "Movado", "Group", "'s", "portfolio", "as", "MVMT", "continues", "to", "cross", "-", "sell", "products", "within", "its", "existing", "portfolio", ",", "expand", "product", "offerings", "within", "its", "core", "categories", "of", "watches", ",", "sunglasses", "and", "accessories", ",", "and", "grow", "its", "presence", "in", "new", "markets", "through", "its", "direct", "-", "to", "-", "consumer", "and", "wholesale", "business", ".", "-", "Allows", "MVMT", "to", "benefit", "from", "Movado", "Group", "'s", "global", "infrastructure", "and", "distribution", "network", "to", "help", "accelerate", "MVMT", "'s", "expansion", "in", "untapped", "categories", ",", "channels", "and", "geographies", ".", "-", "Increases", "Movado", "Group", "'s", "exposure", "to", "both", "aspirational", "and", "millennial", "consumers", "through", "MVMT", "'s", "differentiated", "and", "affordable", "watches", ",", "sunglasses", "and", "accessories", ".", "-", "Strengthens", "Movado", "Group", "'", "s", "digital", "and", "direct", "-", "to", "-", "consumer", "capabilities", ".", "In", "its", "last", "fiscal", "year", "ended", "December", "31", ",", "2017", ",", "MVMT", "achieved", "revenue", "of", "approximately", "$", "71 million", ".", "Movado", "Group", "expects", "the", "transaction", "to", "be", "accretive", "to", "its", "results", "for", "the", "fiscal", "year", "ending", "January", "31", ",", "2019", ",", "exclusive", "of", "transaction", "-", "related", "charges", "and", "the", "amortization", "of", "anticipated", "purchase", "accounting", "adjustments", ".", "Efraim", "Grinberg", ",", "Movado", "Group", "'s", "Chairman", "and", "Chief", "Executive", "Officer", ",", "stated", ",", "\"", "We", "are", "pleased", "to", "officially", "welcome", "MVMT", "to", "Movado", "Group", "having", "closed", "on", "this", "strategic", "acquisition", ".", "MVMT", "provides", "many", "benefits", "to", "our", "Company", "-", "we", "add", "a", "strong", "digital", "brand", "to", "our", "portfolio", ";", "broaden", "our", "customer", "reach", "to", "millennials", ",", "an", "important", "consumer", "segment", ";", "and", "increase", "the", "sales", "and", "earnings", "potential", "of", "our", "Company", "with", "an", "acquisition", "that", "we", "expect", "will", "be", "accretive", "to", "fiscal", "2019", "results", ".", "We", "expect", "to", "leverage", "the", "strengths", "of", "MVMT", "combined", "with", "our", "scale", "and", "operating", "platform", "to", "take", "the", "brand", "to", "a", "greater", "level", "of", "growth", ".", "With", "the", "closing", "of", "this", "acquisition", ",", "we", "are", "well", "positioned", "to", "capitalize", "on", "the", "full", "potential", "of", "our", "owned", "and", "licensed", "brands", "portfolio", "as", "we", "focus", "on", "delivering", "sustainable", "long", "-", "term", "growth", "\"", ".", "Jake", "Kassan", ",", "Co", "-", "founder", "and", "Chief", "Executive", "Officer", "of", "MVMT", ",", "stated", ",", "\"", "I", "am", "excited", "to", "officially", "be", "part", "of", "the", "Movado", "team", ".", "The", "entire", "MVMT", "team", "shares", "in", "my", "excitement", "as", "we", "will", "now", "be", "able", "to", "benefit", "from", "the", "resources", "and", "brand", "expertise", "of", "Movado", "Group", "that", "will", "help", "MVMT", "achieve", "our", "long", "-", "term", "objectives", "\"", ".", "Kramer", "LaPlante", ",", "Co", "-", "founder", "and", "Chief", "Operating", "Officer", "of", "MVMT", ",", "added", ",", "\"", "I", ",", "along", "with", "the", "39", "associates", "at", "MVMT", ",", "share", "in", "the", "enthusiasm", "to", "be", "part", "of", "Movado", "Group", ".", "We", "expect", "Movado", "Group", "'s", "scale", ",", "relationships", "and", "expertise", "in", "the", "timepiece", "category", "to", "accelerate", "the", "growth", "and", "development", "of", "our", "business", "as", "we", "maximize", "both", "businesses", "'", "focus", "on", "product", "innovation", ",", "unique", "design", "and", "value", "for", "the", "consumer", "\"", ".", "CONTACT", ":", "ICR", ",", "Inc", ".", "Investors", ":", "Rachel", "Schacter", "/", "Allison", "Malkin", "203", "-", "682", "-", "8200", "Media", ":", "Alecia", "Pulman", "/", "Brittany", "Fraser", "[email protected]", "/", "[email protected]", "203", "-", "682", "-", "8200", "Movado", "Group", ",", "Inc", ".", "designs", ",", "sources", ",", "and", "distributes", "MOVADO", "®", ",", "MVMT", "®", ",", "OLIVIA", "BURTON", "®", ",", "EBEL", "®", ",", "CONCORD", "®", ",", "COACH", "®", ",", "TOMMY", "HILFIGER", "®", ",", "HUGO", "BOSS", "®", ",", "LACOSTE", "®", ",", "SCUDERIA", "FERRARI", "®", ",", "REBECCA", "MINKOFF", "®", "and", "URI", "MINKOFF", "®", "watches", "worldwide", ",", "and", "operates", "Movado", "company", "stores", "in", "the", "United", "States", "and", "Canada", ".", "Safe", "Harbor", "This", "press", "release", "contains", "certain", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "The", "Company", "has", "tried", ",", "whenever", "possible", ",", "to", "identify", "these", "forward", "-", "looking", "statements", "using", "words", "such", "as", "\"", "expects", "\"", ",", "\"", "anticipates", "\"", ",", "\"", "believes", "\"", ",", "\"", "targets", "\"", ",", "\"", "goals", "\"", ",", "\"", "projects", "\"", ",", "\"", "intends", "\"", ",", "\"", "plans", "\"", ",", "\"", "seeks", "\"", ",", "\"", "estimates", "\"", ",", "\"", "may", "\"", ",", "\"", "will", "\"", ",", "\"", "should", "\"", "and", "variations", "of", "such", "words", "and", "similar", "expressions", ".", "Similarly", ",", "statements", "in", "this", "press", "release", "that", "describe", "the", "Company", "'s", "business", "strategy", ",", "outlook", ",", "objectives", ",", "plans", ",", "intentions", "or", "goals", "are", "also", "forward", "-", "looking", "statements", ".", "Accordingly", ",", "such", "forward", "-", "looking", "statements", "involve", "known", "and", "unknown", "risks", ",", "uncertainties", "and", "other", "factors", "that", "could", "cause", "the", "Company", "'s", "actual", "results", ",", "performance", "or", "achievements", "and", "levels", "of", "future", "dividends", "to", "differ", "materially", "from", "those", "expressed", "in", ",", "or", "implied", "by", ",", "these", "statements", ".", "These", "risks", "and", "uncertainties", "may", "include", ",", "but", "are", "not", "limited", "to", ",", "general", "economic", "and", "business", "conditions", "which", "may", "impact", "disposable", "income", "of", "consumers", "in", "the", "United", "States", "and", "the", "other", "significant", "markets", "(", "including", "Europe", ")", "where", "the", "Company", "'s", "products", "are", "sold", ",", "uncertainty", "regarding", "such", "economic", "and", "business", "conditions", ",", "trends", "in", "consumer", "debt", "levels", "and", "bad", "debt", "write", "-", "offs", ",", "general", "uncertainty", "related", "to", "possible", "terrorist", "attacks", ",", "natural", "disasters", ",", "the", "stability", "of", "the", "European", "Union", "(", "including", "the", "impact", "of", "the", "June", "23", ",", "2016", "referendum", "advising", "that", "the", "United", "Kingdom", "exit", "from", "the", "European", "Union", ")", "and", "defaults", "on", "or", "downgrades", "of", "sovereign", "debt", "and", "the", "impact", "of", "any", "of", "those", "events", "on", "consumer", "spending", ",", "changes", "in", "consumer", "preferences", "and", "popularity", "of", "particular", "designs", ",", "new", "product", "development", "and", "introduction", ",", "the", "ability", "of", "the", "Company", "to", "successfully", "implement", "its", "business", "strategies", ",", "competitive", "products", "and", "pricing", ",", "the", "impact", "of", "\"", "smart", "\"", "watches", "and", "other", "wearable", "tech", "products", "on", "the", "traditional", "watch", "market", ",", "seasonality", ",", "availability", "of", "alternative", "sources", "of", "supply", "in", "the", "case", "of", "the", "loss", "of", "any", "significant", "supplier", "or", "any", "supplier", "'s", "inability", "to", "fulfill", "the", "Company", "'s", "orders", ",", "the", "loss", "of", "or", "curtailed", "sales", "to", "significant", "customers", ",", "the", "Company", "'s", "dependence", "on", "key", "employees", "and", "officers", ",", "the", "ability", "to", "successfully", "integrate", "the", "operations", "of", "acquired", "businesses", "without", "disruption", "to", "other", "business", "activities", ",", "the", "continuation", "of", "the", "company", "'s", "major", "warehouse", "and", "distribution", "centers", ",", "the", "continuation", "of", "licensing", "arrangements", "with", "third", "parties", ",", "losses", "possible", "from", "pending", "or", "future", "litigation", ",", "the", "ability", "to", "secure", "and", "protect", "trademarks", ",", "patents", "and", "other", "intellectual", "property", "rights", ",", "the", "ability", "to", "lease", "new", "stores", "on", "suitable", "terms", "in", "desired", "markets", "and", "to", "complete", "construction", "on", "a", "timely", "basis", ",", "the", "ability", "of", "the", "Company", "to", "successfully", "manage", "its", "expenses", "on", "a", "continuing", "basis", ",", "information", "systems", "failure", "or", "breaches", "of", "network", "security", ",", "the", "continued", "availability", "to", "the", "Company", "of", "financing", "and", "credit", "on", "favorable", "terms", ",", "business", "disruptions", ",", "disease", ",", "general", "risks", "associated", "with", "doing", "business", "outside", "the", "United", "States", "including", ",", "without", "limitation", ",", "import", "duties", ",", "tariffs", ",", "quotas", ",", "political", "and", "economic", "stability", ",", "changes", "to", "existing", "laws", "or", "regulations", ",", "and", "success", "of", "hedging", "strategies", "with", "respect", "to", "currency", "exchange", "rate", "fluctuations", ",", "and", "the", "other", "factors", "discussed", "in", "the", "Company", "'s", "Annual", "Report", "on", "Form", "10", "-", "K", "and", "other", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", ".", "These", "statements", "reflect", "the", "Company", "'s", "current", "beliefs", "and", "are", "based", "upon", "information", "currently", "available", "to", "it", ".", "Be", "advised", "that", "developments", "subsequent", "to", "this", "press", "release", "are", "likely", "to", "cause", "these", "statements", "to", "become", "outdated", "with", "the", "passage", "of", "time", ".", "The", "Company", "assumes", "no", "duty", "to", "update", "its", "forward", "looking", "statements", "and", "this", "release", "shall", "not", "be", "construed", "to", "indicate", "the", "assumption", "by", "the", "Company", "of", "any", "duty", "to", "update", "its", "outlook", "in", "the", "future", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Generic_Info.ANNUAL_REVENUES", "I-Generic_Info.ANNUAL_REVENUES", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1635581-000162828018008042-exhibit991_8point361920188
EX-99.1 3 exhibit991_8point361920188.htm EXHIBIT 99.1 Exhibit Exhibit 99.1 Contacts: Investors Bob Okunski 408/240-5447 [email protected] Media Natalie Wymer 650/223-9132 [email protected] 8point3 Energy Partners Announces Closing of Merger Transaction SAN JOSE, CA, June 19, 2018 - 8point3 Energy Partners LP (NASDAQ:CAFD) (8point3 or the Partnership) today announced that it has closed the mergers and other transactions contemplated by the Agreement and Plan of Merger and Purchase Agreement, dated as of February 5, 2018, by and among the Partnership and certain affiliates of the Partnership, Capital Dynamics Clean Energy and Infrastructure V JV, LLC, an equity fund managed by Capital Dynamics, Inc., and certain other co-investors (collectively, Capital Dynamics). As previously disclosed, a majority of the outstanding 8point3 public Class A shareholders approved the transactions at a special meeting held on May 23, 2018. As a result of the transactions, 8point3's Class A shares will no longer be publicly traded on the NASDAQ stock exchange. 8point3 intends to file the relevant form with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended, requesting the deregistration of its Class A shares and the suspension of 8point3's reporting obligations under the Exchange Act. Pursuant to the transactions, the Partnership's Class A shareholders, and the sponsors of the Partnership, First Solar, Inc. (NASDAQ: FSLR) and SunPower Corporation (NASDAQ: SPWR), as indirect holders of common and subordinated units in 8point3 Operating Company, LLC, the Partnership's operating company (OpCo), received $12.48 per share or per unit in cash (merger consideration). No consideration was received by the sponsors for the incentive distribution rights they owned in OpCo or their interests in 8point3 General Partner, LLC, the general partner of the Partnership. The Partnership's Class A shares held of record by shareholders in book-entry form with The Depository Trust Company will receive the merger consideration for their respective interests on or about June 25, 2018. Goldman Sachs acted as financial advisor to SunPower, BofA Merrill Lynch acted as financial advisor to First Solar, and Evercore acted as financial advisor to the Conflicts Committee of the general partner. Baker Botts L.L.P. acted as legal counsel to SunPower, Skadden, Arps, Slate, Meagher & Flom, LLP acted as legal counsel to First Solar, and Richards, Layton & Finger P.A. acted as legal counsel to the Conflicts Committee of the general partner. Amis, Patel & Brewer, LLP acted as transaction legal counsel, and Stoel Rives LLP acted as tax and regulatory counsel, to Capital Dynamics. About 8point3 8point3 Energy Partners LP is a limited partnership that owns, operates and acquires solar energy generation projects. The partnership owns interests in projects in the U.S. that generate long-term contracted cash flows and serve utility, commercial and residential customers. For more information about 8point3, please visit www.8point3energypartners.com. About Capital Dynamics Capital Dynamics, Inc. is an independent, global asset manager, investing in private equity, private credit and clean energy infrastructure. We are client-focused, tailoring solutions to meet investor requirements. The Firm manages investments through a broad range of products and opportunities including separate account solutions, investment funds and structured private equity products. Capital Dynamics currently has $15 billion in assets under management and advisement. For 8point3 Investors This press release includes various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management's current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements expressing management's expectations, beliefs, estimates, forecasts, projections and assumptions. You can identify our forward-looking statements by words such as "anticipate", "believe", "estimate", "expect", "forecast", "goals", "objectives", "outlook", "intend", "plan", "predict", "project", "risks", "schedule", "seek", "target", "could", "may", "will", "should" or "would" or other similar expressions that convey the uncertainty of future events or outcomes. In accordance with "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, these statements are accompanied by cautionary language identifying important factors, though not necessarily all such factors, which could cause future outcomes to differ materially from those set forth in forward-looking statements. In particular, expressed or implied statements concerning expectations of plans, strategies, objectives and growth and anticipated financial and operational performance of the Partnership and its subsidiaries, including guidance regarding the Partnership's revenue, net income, adjusted EBITDA, cash available for distribution and distributions, other future actions, conditions or events such as the commercial operation dates of projects, future operating results or the ability to generate sales, income or cash flow or to make distributions are forward-looking statements. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future actions, conditions or events and future results of operations may differ materially from those expressed in these forward-looking statements. Forward-looking statements speak only as of the date of this press release, June 19, 2018, and we disclaim any obligation to update such statements for any reason, except as required by law. All forward-looking statements contained in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to in this paragraph. Many of the factors that will determine these results are beyond our ability to control or predict. These factors include the risk factors described under "Risk Factors" in the Partnership's Annual Report on Form 10-K for the fiscal year ended November 30, 2017, filed with the Securities and Exchange Commission on February 5, 2018. If any of those risks occur, it could cause our actual results to differ materially from those contained in any forward-looking statement. Because of these risks and uncertainties, you should not place undue reliance on any forward-looking statement. Additional Information and Where to Find It This press release contains information about the transactions involving the Partnership and its subsidiaries and affiliates of Capital Dynamics. Investors and shareholders of the Partnership are able to obtain free copies of documents pertaining to the transactions and other documents filed with the SEC by the Partnership through the website maintained by the SEC at www.sec.gov. In addition, investors and shareholders of the Partnership will be able to obtain free copies of documents filed by the Partnership with the SEC from the partnership's website, www.8point3energypartners.com, under the heading "SEC Filings" in the "Investors" tab.
[ "EX", "-", "99", ".", "1", "3", "exhibit991", "_", "8point361920188", ".", "htm", "EXHIBIT", "99", ".", "1", "Exhibit", "Exhibit", "99", ".", "1", "Contacts", ":", "Investors", "Bob", "Okunski", "408", "/", "240", "-", "5447", "[email protected]", "Media", "Natalie", "Wymer", "650", "/", "223", "-", "9132", "[email protected]", "8point3", "Energy", "Partners", "Announces", "Closing", "of", "Merger", "Transaction", "SAN", "JOSE", ",", "CA", ",", "June", "19", ",", "2018", "-", "8point3", "Energy", "Partners", "LP", "(", "NASDAQ", ":", "CAFD", ")", "(", "8point3", "or", "the", "Partnership", ")", "today", "announced", "that", "it", "has", "closed", "the", "mergers", "and", "other", "transactions", "contemplated", "by", "the", "Agreement", "and", "Plan", "of", "Merger", "and", "Purchase", "Agreement", ",", "dated", "as", "of", "February", "5", ",", "2018", ",", "by", "and", "among", "the", "Partnership", "and", "certain", "affiliates", "of", "the", "Partnership", ",", "Capital", "Dynamics", "Clean", "Energy", "and", "Infrastructure", "V", "JV", ",", "LLC", ",", "an", "equity", "fund", "managed", "by", "Capital", "Dynamics", ",", "Inc", ".", ",", "and", "certain", "other", "co", "-", "investors", "(", "collectively", ",", "Capital", "Dynamics", ")", ".", "As", "previously", "disclosed", ",", "a", "majority", "of", "the", "outstanding", "8point3", "public", "Class", "A", "shareholders", "approved", "the", "transactions", "at", "a", "special", "meeting", "held", "on", "May", "23", ",", "2018", ".", "As", "a", "result", "of", "the", "transactions", ",", "8point3", "'s", "Class", "A", "shares", "will", "no", "longer", "be", "publicly", "traded", "on", "the", "NASDAQ", "stock", "exchange", ".", "8point3", "intends", "to", "file", "the", "relevant", "form", "with", "the", "Securities", "and", "Exchange", "Commission", "under", "the", "Securities", "Exchange", "Act", "of", "1934", ",", "as", "amended", ",", "requesting", "the", "deregistration", "of", "its", "Class", "A", "shares", "and", "the", "suspension", "of", "8point3", "'s", "reporting", "obligations", "under", "the", "Exchange", "Act", ".", "Pursuant", "to", "the", "transactions", ",", "the", "Partnership", "'s", "Class", "A", "shareholders", ",", "and", "the", "sponsors", "of", "the", "Partnership", ",", "First", "Solar", ",", "Inc", ".", "(", "NASDAQ", ":", "FSLR", ")", "and", "SunPower", "Corporation", "(", "NASDAQ", ":", "SPWR", ")", ",", "as", "indirect", "holders", "of", "common", "and", "subordinated", "units", "in", "8point3", "Operating", "Company", ",", "LLC", ",", "the", "Partnership", "'", "s", "operating", "company", "(", "OpCo", ")", ",", "received", "$", "12.48", "per", "share", "or", "per", "unit", "in", "cash", "(", "merger", "consideration", ")", ".", "No", "consideration", "was", "received", "by", "the", "sponsors", "for", "the", "incentive", "distribution", "rights", "they", "owned", "in", "OpCo", "or", "their", "interests", "in", "8point3", "General", "Partner", ",", "LLC", ",", "the", "general", "partner", "of", "the", "Partnership", ".", "The", "Partnership", "'s", "Class", "A", "shares", "held", "of", "record", "by", "shareholders", "in", "book", "-", "entry", "form", "with", "The", "Depository", "Trust", "Company", "will", "receive", "the", "merger", "consideration", "for", "their", "respective", "interests", "on", "or", "about", "June", "25", ",", "2018", ".", "Goldman", "Sachs", "acted", "as", "financial", "advisor", "to", "SunPower", ",", "BofA", "Merrill", "Lynch", "acted", "as", "financial", "advisor", "to", "First", "Solar", ",", "and", "Evercore", "acted", "as", "financial", "advisor", "to", "the", "Conflicts", "Committee", "of", "the", "general", "partner", ".", "Baker", "Botts", "L", ".", "L", ".", "P", ".", "acted", "as", "legal", "counsel", "to", "SunPower", ",", "Skadden", ",", "Arps", ",", "Slate", ",", "Meagher", "&", "Flom", ",", "LLP", "acted", "as", "legal", "counsel", "to", "First", "Solar", ",", "and", "Richards", ",", "Layton", "&", "Finger", "P", ".", "A", ".", "acted", "as", "legal", "counsel", "to", "the", "Conflicts", "Committee", "of", "the", "general", "partner", ".", "Amis", ",", "Patel", "&", "Brewer", ",", "LLP", "acted", "as", "transaction", "legal", "counsel", ",", "and", "Stoel", "Rives", "LLP", "acted", "as", "tax", "and", "regulatory", "counsel", ",", "to", "Capital", "Dynamics", ".", "About", "8point3", "8point3", "Energy", "Partners", "LP", "is", "a", "limited", "partnership", "that", "owns", ",", "operates", "and", "acquires", "solar", "energy", "generation", "projects", ".", "The", "partnership", "owns", "interests", "in", "projects", "in", "the", "U", ".", "S", ".", "that", "generate", "long", "-", "term", "contracted", "cash", "flows", "and", "serve", "utility", ",", "commercial", "and", "residential", "customers", ".", "For", "more", "information", "about", "8point3", ",", "please", "visit", "www.8point3energypartners.com", ".", "About", "Capital", "Dynamics", "Capital", "Dynamics", ",", "Inc", ".", "is", "an", "independent", ",", "global", "asset", "manager", ",", "investing", "in", "private", "equity", ",", "private", "credit", "and", "clean", "energy", "infrastructure", ".", "We", "are", "client", "-", "focused", ",", "tailoring", "solutions", "to", "meet", "investor", "requirements", ".", "The", "Firm", "manages", "investments", "through", "a", "broad", "range", "of", "products", "and", "opportunities", "including", "separate", "account", "solutions", ",", "investment", "funds", "and", "structured", "private", "equity", "products", ".", "Capital", "Dynamics", "currently", "has", "$", "15 billion", "in", "assets", "under", "management", "and", "advisement", ".", "For", "8point3", "Investors", "This", "press", "release", "includes", "various", "\"", "forward", "-", "looking", "statements", "\"", "within", "the", "meaning", "of", "Section", "27A", "of", "the", "Securities", "Act", "of", "1933", ",", "as", "amended", ",", "and", "Section", "21E", "of", "the", "Securities", "Exchange", "Act", "of", "1934", ",", "as", "amended", ".", "All", "statements", "other", "than", "statements", "of", "historical", "fact", "are", ",", "or", "may", "be", "deemed", "to", "be", ",", "forward", "-", "looking", "statements", ".", "Forward", "-", "looking", "statements", "are", "statements", "of", "future", "expectations", "that", "are", "based", "on", "management", "'s", "current", "expectations", "and", "assumptions", "and", "involve", "known", "and", "unknown", "risks", "and", "uncertainties", "that", "could", "cause", "actual", "results", ",", "performance", "or", "events", "to", "differ", "materially", "from", "those", "expressed", "or", "implied", "in", "these", "statements", ".", "Forward", "-", "looking", "statements", "include", ",", "among", "other", "things", ",", "statements", "expressing", "management", "'s", "expectations", ",", "beliefs", ",", "estimates", ",", "forecasts", ",", "projections", "and", "assumptions", ".", "You", "can", "identify", "our", "forward", "-", "looking", "statements", "by", "words", "such", "as", "\"", "anticipate", "\"", ",", "\"", "believe", "\"", ",", "\"", "estimate", "\"", ",", "\"", "expect", "\"", ",", "\"", "forecast", "\"", ",", "\"", "goals", "\"", ",", "\"", "objectives", "\"", ",", "\"", "outlook", "\"", ",", "\"", "intend", "\"", ",", "\"", "plan", "\"", ",", "\"", "predict", "\"", ",", "\"", "project", "\"", ",", "\"", "risks", "\"", ",", "\"", "schedule", "\"", ",", "\"", "seek", "\"", ",", "\"", "target", "\"", ",", "\"", "could", "\"", ",", "\"", "may", "\"", ",", "\"", "will", "\"", ",", "\"", "should", "\"", "or", "\"", "would", "\"", "or", "other", "similar", "expressions", "that", "convey", "the", "uncertainty", "of", "future", "events", "or", "outcomes", ".", "In", "accordance", "with", "\"", "safe", "harbor", "\"", "provisions", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ",", "these", "statements", "are", "accompanied", "by", "cautionary", "language", "identifying", "important", "factors", ",", "though", "not", "necessarily", "all", "such", "factors", ",", "which", "could", "cause", "future", "outcomes", "to", "differ", "materially", "from", "those", "set", "forth", "in", "forward", "-", "looking", "statements", ".", "In", "particular", ",", "expressed", "or", "implied", "statements", "concerning", "expectations", "of", "plans", ",", "strategies", ",", "objectives", "and", "growth", "and", "anticipated", "financial", "and", "operational", "performance", "of", "the", "Partnership", "and", "its", "subsidiaries", ",", "including", "guidance", "regarding", "the", "Partnership", "'s", "revenue", ",", "net", "income", ",", "adjusted", "EBITDA", ",", "cash", "available", "for", "distribution", "and", "distributions", ",", "other", "future", "actions", ",", "conditions", "or", "events", "such", "as", "the", "commercial", "operation", "dates", "of", "projects", ",", "future", "operating", "results", "or", "the", "ability", "to", "generate", "sales", ",", "income", "or", "cash", "flow", "or", "to", "make", "distributions", "are", "forward", "-", "looking", "statements", ".", "Forward", "-", "looking", "statements", "are", "not", "guarantees", "of", "performance", ".", "They", "involve", "risks", ",", "uncertainties", "and", "assumptions", ".", "Future", "actions", ",", "conditions", "or", "events", "and", "future", "results", "of", "operations", "may", "differ", "materially", "from", "those", "expressed", "in", "these", "forward", "-", "looking", "statements", ".", "Forward", "-", "looking", "statements", "speak", "only", "as", "of", "the", "date", "of", "this", "press", "release", ",", "June", "19", ",", "2018", ",", "and", "we", "disclaim", "any", "obligation", "to", "update", "such", "statements", "for", "any", "reason", ",", "except", "as", "required", "by", "law", ".", "All", "forward", "-", "looking", "statements", "contained", "in", "this", "press", "release", "are", "expressly", "qualified", "in", "their", "entirety", "by", "the", "cautionary", "statements", "contained", "or", "referred", "to", "in", "this", "paragraph", ".", "Many", "of", "the", "factors", "that", "will", "determine", "these", "results", "are", "beyond", "our", "ability", "to", "control", "or", "predict", ".", "These", "factors", "include", "the", "risk", "factors", "described", "under", "\"", "Risk", "Factors", "\"", "in", "the", "Partnership", "'s", "Annual", "Report", "on", "Form", "10", "-", "K", "for", "the", "fiscal", "year", "ended", "November", "30", ",", "2017", ",", "filed", "with", "the", "Securities", "and", "Exchange", "Commission", "on", "February", "5", ",", "2018", ".", "If", "any", "of", "those", "risks", "occur", ",", "it", "could", "cause", "our", "actual", "results", "to", "differ", "materially", "from", "those", "contained", "in", "any", "forward", "-", "looking", "statement", ".", "Because", "of", "these", "risks", "and", "uncertainties", ",", "you", "should", "not", "place", "undue", "reliance", "on", "any", "forward", "-", "looking", "statement", ".", "Additional", "Information", "and", "Where", "to", "Find", "It", "This", "press", "release", "contains", "information", "about", "the", "transactions", "involving", "the", "Partnership", "and", "its", "subsidiaries", "and", "affiliates", "of", "Capital", "Dynamics", ".", "Investors", "and", "shareholders", "of", "the", "Partnership", "are", "able", "to", "obtain", "free", "copies", "of", "documents", "pertaining", "to", "the", "transactions", "and", "other", "documents", "filed", "with", "the", "SEC", "by", "the", "Partnership", "through", "the", "website", "maintained", "by", "the", "SEC", "at", "www.sec.gov", ".", "In", "addition", ",", "investors", "and", "shareholders", "of", "the", "Partnership", "will", "be", "able", "to", "obtain", "free", "copies", "of", "documents", "filed", "by", "the", "Partnership", "with", "the", "SEC", "from", "the", "partnership", "'s", "website", ",", "www.8point3energypartners.com", ",", "under", "the", "heading", "\"", "SEC", "Filings", "\"", "in", "the", "\"", "Investors", "\"", "tab", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1088734-000121390007001192-f8k082907ex99vii_riverhawk
EX-99.7 3 f8k082907ex99vii_riverhawk.htm PRESS RELEASE OF AUGUST 29, 2007 f8k082907ex99vii_riverhawk.htm Exhibit 99.7 River Hawk Aviation Asset Purchase Agreement Finalized TRAVERSE CITY, MI, Aug 30, 2007 (MARKET WIRE via COMTEX) -- River Hawk Aviation, Inc. (PINKSHEETS: RHWA) (River Hawk) announced today that it amended its asset purchase agreement with privately held River Hawk Aviation, Inc. (RHA) and finalized the agreement. Management intends to transfer the assets acquired into one of its existing subsidiaries or to create a new subsidiary that will continue the operations previously conducted through the private River Hawk. In connection with closing the asset purchase agreement, River Hawk announced that it has approved a Class A preferred and a Class B preferred stock issuance of which 3.5 million shares of Class A and 2.0 million shares of Class B will be issued to the owner of RHA in exchange for all of his inventories and intellectual property including customer lists and industry contacts. RHA is owned by Calvin Humphrey who is River Hawk's CEO and Chairman. The agreement to acquire the assets to RHA was commenced prior to Humphrey joining River Hawk in an official capacity. The original asset purchase agreement and closing date has previously been extended and the agreement has been amended to allow for its completion. RHA is a wholesaler and retailer of aviation parts and components and also provides aircraft brokerage services as well as various management and advisory services including expert appraisals to its aviation clientele. The estimated retail value of aviation parts and components transferred to River Hawk in this transaction is approximately $4 million. In 2006, RHA's gross revenue was in excess of $1.25 million. Internal estimates of gross revenue for 2007, through August 29, 2007 are estimated to be approximately $300,000 and the forecast for all of 2007 is expected to be $500,000 or more. The decline in sales revenues is largely due to Mr. Humphrey's decision to become a member of River Hawk's management and the time commitment associated with this decision. Internal estimates are that revenues should rebound strongly in 2008 to amounts in excess of $1 million. Robert Scott, CFO of River Hawk, commented, "The decision to acquire the assets of RHA and to avail us of the management and leadership attributes of Calvin Humphrey is sound and fits our strategic plan extremely well. Within the past few days the Company announced the closing of a merger with Profile Aviation Services, Inc. and Profile Aviation Center, Inc. By amending the terms of the Company agreement with RHA we were able to close this agreement. These two transactions combined give us several profit centers to engage as we operate and grow our holdings. The synergies between our Profile entities and RHA give us an excellent platform from which to grow and prosper". About River Hawk Aviation, Inc. River Hawk Aviation, Inc. is a holding company concentrating on the acquisition and development of aviation niche companies. Presently, the Company's operating subsidiary base is comprised of Profile Aviation Center, Inc. and Profile Services, Inc. of Hickory, North Carolina. The Company has also agreed to acquire River Hawk Aviation, Inc. (a private entity) of San Antonio, Texas and upon satisfaction of certain terms and conditions of the agreement expects to take control of this corporation soon. The combined synergies associated with the Company's current holdings will provide revenues from charter aircraft operations, aviation management services to private aircraft owners, certified aircraft maintenance services, fueling and other fixed base operation services as well as aviation parts and components sales within the aviation industry with a specialization in Saab and other commuter aircraft parts and components. The Company and its subsidiaries are also able to offer consulting services, marketing and appraisals to the aviation community. At present, the Company maintains offices and a fixed base operation including aviation hangars in Hickory, North Carolina, offices and inventory warehousing in San Antonio, Texas, and executive offices in Michigan. The Company's plan for future growth and development will focus on the acquisition of aviation-related operating businesses and airlines that display the potential for restructuring into profitable and sustainable aviation-related growth concerns. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("the Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements which are based upon certain assumptions and describe future plans, strategies and expectations, are generally identifiable by the use of words as "believe", "expect", "intend," "anticipate", "project", or other similar expressions. These forward-looking statements relate to, among other things, future performance, and perceived opportunities in the market and statements regarding the Company's mission and vision. The Company's actual results, performance and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements. Additional factors that could materially affect these forward-looking statements and/or predictions include, among other things: (1) managing acquisitions and expansion of operations; (2) our ability to obtain necessary financing and to manage existing debt; (3) the risks inherent in the investigation, involvement and acquisition of a new business opportunity; (4) the Company's ability to comply with federal, state and local government and international regulations; and (5) other factors over which we have little or no control. Further information on potential factors that could affect River Hawk Aviation, Inc. is found in the Company's Form 10-K and other documents filed with the U. S. Securities and Exchange Commission.
[ "EX", "-", "99", ".", "7", "3", "f8k082907ex99vii", "_", "riverhawk", ".", "htm", "PRESS", "RELEASE", "OF", "AUGUST", "29", ",", "2007", "f8k082907ex99vii", "_", "riverhawk", ".", "htm", "Exhibit", "99", ".", "7", "River", "Hawk", "Aviation", "Asset", "Purchase", "Agreement", "Finalized", "TRAVERSE", "CITY", ",", "MI", ",", "Aug", "30", ",", "2007", "(", "MARKET", "WIRE", "via", "COMTEX", ")", "--", "River", "Hawk", "Aviation", ",", "Inc", ".", "(", "PINKSHEETS", ":", "RHWA", ")", "(", "River", "Hawk", ")", "announced", "today", "that", "it", "amended", "its", "asset", "purchase", "agreement", "with", "privately", "held", "River", "Hawk", "Aviation", ",", "Inc", ".", "(", "RHA", ")", "and", "finalized", "the", "agreement", ".", "Management", "intends", "to", "transfer", "the", "assets", "acquired", "into", "one", "of", "its", "existing", "subsidiaries", "or", "to", "create", "a", "new", "subsidiary", "that", "will", "continue", "the", "operations", "previously", "conducted", "through", "the", "private", "River", "Hawk", ".", "In", "connection", "with", "closing", "the", "asset", "purchase", "agreement", ",", "River", "Hawk", "announced", "that", "it", "has", "approved", "a", "Class", "A", "preferred", "and", "a", "Class", "B", "preferred", "stock", "issuance", "of", "which", "3", ".", "5", "million", "shares", "of", "Class", "A", "and", "2", ".", "0", "million", "shares", "of", "Class", "B", "will", "be", "issued", "to", "the", "owner", "of", "RHA", "in", "exchange", "for", "all", "of", "his", "inventories", "and", "intellectual", "property", "including", "customer", "lists", "and", "industry", "contacts", ".", "RHA", "is", "owned", "by", "Calvin", "Humphrey", "who", "is", "River", "Hawk", "'s", "CEO", "and", "Chairman", ".", "The", "agreement", "to", "acquire", "the", "assets", "to", "RHA", "was", "commenced", "prior", "to", "Humphrey", "joining", "River", "Hawk", "in", "an", "official", "capacity", ".", "The", "original", "asset", "purchase", "agreement", "and", "closing", "date", "has", "previously", "been", "extended", "and", "the", "agreement", "has", "been", "amended", "to", "allow", "for", "its", "completion", ".", "RHA", "is", "a", "wholesaler", "and", "retailer", "of", "aviation", "parts", "and", "components", "and", "also", "provides", "aircraft", "brokerage", "services", "as", "well", "as", "various", "management", "and", "advisory", "services", "including", "expert", "appraisals", "to", "its", "aviation", "clientele", ".", "The", "estimated", "retail", "value", "of", "aviation", "parts", "and", "components", "transferred", "to", "River", "Hawk", "in", "this", "transaction", "is", "approximately", "$", "4 million", ".", "In", "2006", ",", "RHA", "'s", "gross", "revenue", "was", "in", "excess", "of", "$", "1.25 million", ".", "Internal", "estimates", "of", "gross", "revenue", "for", "2007", ",", "through", "August", "29", ",", "2007", "are", "estimated", "to", "be", "approximately", "$", "300,000", "and", "the", "forecast", "for", "all", "of", "2007", "is", "expected", "to", "be", "$", "500,000", "or", "more", ".", "The", "decline", "in", "sales", "revenues", "is", "largely", "due", "to", "Mr", ".", "Humphrey", "'s", "decision", "to", "become", "a", "member", "of", "River", "Hawk", "'s", "management", "and", "the", "time", "commitment", "associated", "with", "this", "decision", ".", "Internal", "estimates", "are", "that", "revenues", "should", "rebound", "strongly", "in", "2008", "to", "amounts", "in", "excess", "of", "$", "1 million", ".", "Robert", "Scott", ",", "CFO", "of", "River", "Hawk", ",", "commented", ",", "\"", "The", "decision", "to", "acquire", "the", "assets", "of", "RHA", "and", "to", "avail", "us", "of", "the", "management", "and", "leadership", "attributes", "of", "Calvin", "Humphrey", "is", "sound", "and", "fits", "our", "strategic", "plan", "extremely", "well", ".", "Within", "the", "past", "few", "days", "the", "Company", "announced", "the", "closing", "of", "a", "merger", "with", "Profile", "Aviation", "Services", ",", "Inc", ".", "and", "Profile", "Aviation", "Center", ",", "Inc", ".", "By", "amending", "the", "terms", "of", "the", "Company", "agreement", "with", "RHA", "we", "were", "able", "to", "close", "this", "agreement", ".", "These", "two", "transactions", "combined", "give", "us", "several", "profit", "centers", "to", "engage", "as", "we", "operate", "and", "grow", "our", "holdings", ".", "The", "synergies", "between", "our", "Profile", "entities", "and", "RHA", "give", "us", "an", "excellent", "platform", "from", "which", "to", "grow", "and", "prosper", "\"", ".", "About", "River", "Hawk", "Aviation", ",", "Inc", ".", "River", "Hawk", "Aviation", ",", "Inc", ".", "is", "a", "holding", "company", "concentrating", "on", "the", "acquisition", "and", "development", "of", "aviation", "niche", "companies", ".", "Presently", ",", "the", "Company", "'", "s", "operating", "subsidiary", "base", "is", "comprised", "of", "Profile", "Aviation", "Center", ",", "Inc", ".", "and", "Profile", "Services", ",", "Inc", ".", "of", "Hickory", ",", "North", "Carolina", ".", "The", "Company", "has", "also", "agreed", "to", "acquire", "River", "Hawk", "Aviation", ",", "Inc", ".", "(", "a", "private", "entity", ")", "of", "San", "Antonio", ",", "Texas", "and", "upon", "satisfaction", "of", "certain", "terms", "and", "conditions", "of", "the", "agreement", "expects", "to", "take", "control", "of", "this", "corporation", "soon", ".", "The", "combined", "synergies", "associated", "with", "the", "Company", "'s", "current", "holdings", "will", "provide", "revenues", "from", "charter", "aircraft", "operations", ",", "aviation", "management", "services", "to", "private", "aircraft", "owners", ",", "certified", "aircraft", "maintenance", "services", ",", "fueling", "and", "other", "fixed", "base", "operation", "services", "as", "well", "as", "aviation", "parts", "and", "components", "sales", "within", "the", "aviation", "industry", "with", "a", "specialization", "in", "Saab", "and", "other", "commuter", "aircraft", "parts", "and", "components", ".", "The", "Company", "and", "its", "subsidiaries", "are", "also", "able", "to", "offer", "consulting", "services", ",", "marketing", "and", "appraisals", "to", "the", "aviation", "community", ".", "At", "present", ",", "the", "Company", "maintains", "offices", "and", "a", "fixed", "base", "operation", "including", "aviation", "hangars", "in", "Hickory", ",", "North", "Carolina", ",", "offices", "and", "inventory", "warehousing", "in", "San", "Antonio", ",", "Texas", ",", "and", "executive", "offices", "in", "Michigan", ".", "The", "Company", "'s", "plan", "for", "future", "growth", "and", "development", "will", "focus", "on", "the", "acquisition", "of", "aviation", "-", "related", "operating", "businesses", "and", "airlines", "that", "display", "the", "potential", "for", "restructuring", "into", "profitable", "and", "sustainable", "aviation", "-", "related", "growth", "concerns", ".", "Forward", "-", "Looking", "Statements", "This", "press", "release", "contains", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "Section", "27A", "of", "the", "Securities", "Act", "of", "1933", ",", "as", "amended", "(", "\"", "the", "Exchange", "Act", "\"", ")", ",", "and", "as", "such", ",", "may", "involve", "risks", "and", "uncertainties", ".", "Forward", "-", "looking", "statements", "which", "are", "based", "upon", "certain", "assumptions", "and", "describe", "future", "plans", ",", "strategies", "and", "expectations", ",", "are", "generally", "identifiable", "by", "the", "use", "of", "words", "as", "\"", "believe", "\"", ",", "\"", "expect", "\"", ",", "\"", "intend", ",", "\"", "\"", "anticipate", "\"", ",", "\"", "project", "\"", ",", "or", "other", "similar", "expressions", ".", "These", "forward", "-", "looking", "statements", "relate", "to", ",", "among", "other", "things", ",", "future", "performance", ",", "and", "perceived", "opportunities", "in", "the", "market", "and", "statements", "regarding", "the", "Company", "'s", "mission", "and", "vision", ".", "The", "Company", "'s", "actual", "results", ",", "performance", "and", "achievements", "may", "differ", "materially", "from", "the", "results", ",", "performance", ",", "and", "achievements", "expressed", "or", "implied", "in", "such", "forward", "-", "looking", "statements", ".", "Additional", "factors", "that", "could", "materially", "affect", "these", "forward", "-", "looking", "statements", "and", "/", "or", "predictions", "include", ",", "among", "other", "things", ":", "(", "1", ")", "managing", "acquisitions", "and", "expansion", "of", "operations", ";", "(", "2", ")", "our", "ability", "to", "obtain", "necessary", "financing", "and", "to", "manage", "existing", "debt", ";", "(", "3", ")", "the", "risks", "inherent", "in", "the", "investigation", ",", "involvement", "and", "acquisition", "of", "a", "new", "business", "opportunity", ";", "(", "4", ")", "the", "Company", "'s", "ability", "to", "comply", "with", "federal", ",", "state", "and", "local", "government", "and", "international", "regulations", ";", "and", "(", "5", ")", "other", "factors", "over", "which", "we", "have", "little", "or", "no", "control", ".", "Further", "information", "on", "potential", "factors", "that", "could", "affect", "River", "Hawk", "Aviation", ",", "Inc", ".", "is", "found", "in", "the", "Company", "'s", "Form", "10", "-", "K", "and", "other", "documents", "filed", "with", "the", "U", ".", "S", ".", "Securities", "and", "Exchange", "Commission", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Generic_Info.ANNUAL_REVENUES", "I-Generic_Info.ANNUAL_REVENUES", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
883975-000119312516779729-d296933dex991
EX-99.1 10 d296933dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Microbot Medical Closes Merger Transaction; Initiates Trading on NASDAQ as "MBOT" Innovative Company is Advancing Transformational Micro-Robotic Technologies to Treat and Diagnose Various Medical Conditions Hingham, MA - November 28, 2016 - Microbot Medical Ltd., a medical device company specializing in the research, design and development of transformational micro-robotic medical technologies, today announced that it has closed its merger transaction with StemCells, Inc. (Nasdaq: STEM), pursuant to which Microbot became a wholly-owned subsidiary of StemCells, Inc. StemCells will be renamed Microbot Medical Inc. and will begin trading on NASDAQ under the symbol "MBOT" on November 29, 2016. "Microbot Medical's founding principle is to improve the quality of life of millions of patients globally by advancing micro-robotic technologies to perform surgical procedures within the human body, and offer physicians and their patients less invasive and more precise solutions. Our vision, which helped guide the development of multiple products based on our unique ViRob and TipCAT micro-robotic technology platforms, is becoming a reality as our lead product candidates for Cerebrospinal Fluid (CSF) and Gastrointestinal (GI) Disorders continue to progress", commented Harel Gadot, Chairman and Chief Executive Officer of Microbot Medical. "The completion of this merger is a significant milestone and enables us to capitalize on Microbot Medical's unique core capabilities and fund our next generation of micro-robotic medical products. We anticipate FDA submission for these products in the near future, and once commercialized, our robust pipeline is expected to deliver a succession of new product launches and applications driving our short, mid and long term revenue prospects", concluded Mr. Gadot. Following the completion of the merger and one-for-nine reverse stock split, there are approximately 39 million shares of common stock outstanding. Under the terms of the merger agreement with StemCells, the shareholders of Microbot Medical, and certain advisors and consultants with respect to the merger, received shares of StemCells common stock representing approximately 95% of the outstanding shares of StemCells calculated on a fully diluted basis. Stockholders of StemCells prior to the merger have retained approximately 5% of the company. Microbot's leadership includes Mr. Gadot, a co-founder who previously served as a Worldwide Group Marketing Director at Johnson & Johnson's surgical device company Ethicon Inc. Additionally, Prof. Moshe Shoham, an inventor of Microbot's technologies and a co-founder of the Company will remain on the Board of Directors and the company's Scientific Advisory Board. Professor Shoham also founded Mazor Robotics Ltd. (Nasdaq GM: MZOR; TASE: MZOR). The current members of the Board of Directors of Microbot Medical will serve on the Board of Directors of the company, with the addition of Scott Burell, a seasoned public company executive who currently serves as Chief Financial Officer, Secretary and Treasurer of CombiMatrix Corporation (Nasdaq: CBMX). The Company's corporate headquarters will be located in Hingham, Massachusetts and Yokneam, Israel. About Microbot Medical Inc. Microbot Medical is a medical device company specializing in the design and development of transformational micro-robotic medical technologies. The Company is primarily focused on leveraging its micro-robotic technologies with the goal of allowing more physicians to treat more patients while improving surgical outcomes for patients. The Company is currently developing its first two product candidates: the Self Cleaning Shunt, or SCS, for the treatment of hydrocephalus and Normal Pressure Hydrocephalus, or NPH; and TipCAT, a self-propelling, semi-disposable endoscope that is being developed initially for use in colonoscopy procedures. Further information about Microbot Medical is available at http://www.microbotmedical.com. Safe Harbor Statements pertaining to future financial and/or operating results, future growth in research, technology, clinical development, and potential opportunities for Microbot Medical Inc. and its subsidiaries, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to statements that contain words such as "will", "believes", "plans", "anticipates", "expects" and "estimates") should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the businesses of Microbot Medical Inc. particularly those mentioned in the cautionary statements found in Microbot Medical Inc.'s filings with the Securities and Exchange Commission. Microbot Medical Inc. disclaims any intent or obligation to update these forward-looking statements. Investor Contacts: EVC Group Michael Polyviou/Doug Sherk - Investors [email protected]; [email protected] 212-850-6020; 415-652-9100 ###
[ "EX", "-", "99", ".", "1", "10", "d296933dex991", ".", "htm", "EX", "-", "99", ".", "1", "EX", "-", "99", ".", "1", "Exhibit", "99", ".", "1", "Microbot", "Medical", "Closes", "Merger", "Transaction", ";", "Initiates", "Trading", "on", "NASDAQ", "as", "\"", "MBOT", "\"", "Innovative", "Company", "is", "Advancing", "Transformational", "Micro", "-", "Robotic", "Technologies", "to", "Treat", "and", "Diagnose", "Various", "Medical", "Conditions", "Hingham", ",", "MA", "-", "November", "28", ",", "2016", "-", "Microbot", "Medical", "Ltd", ".", ",", "a", "medical", "device", "company", "specializing", "in", "the", "research", ",", "design", "and", "development", "of", "transformational", "micro", "-", "robotic", "medical", "technologies", ",", "today", "announced", "that", "it", "has", "closed", "its", "merger", "transaction", "with", "StemCells", ",", "Inc", ".", "(", "Nasdaq", ":", "STEM", ")", ",", "pursuant", "to", "which", "Microbot", "became", "a", "wholly", "-", "owned", "subsidiary", "of", "StemCells", ",", "Inc", ".", "StemCells", "will", "be", "renamed", "Microbot", "Medical", "Inc", ".", "and", "will", "begin", "trading", "on", "NASDAQ", "under", "the", "symbol", "\"", "MBOT", "\"", "on", "November", "29", ",", "2016", ".", "\"", "Microbot", "Medical", "'s", "founding", "principle", "is", "to", "improve", "the", "quality", "of", "life", "of", "millions", "of", "patients", "globally", "by", "advancing", "micro", "-", "robotic", "technologies", "to", "perform", "surgical", "procedures", "within", "the", "human", "body", ",", "and", "offer", "physicians", "and", "their", "patients", "less", "invasive", "and", "more", "precise", "solutions", ".", "Our", "vision", ",", "which", "helped", "guide", "the", "development", "of", "multiple", "products", "based", "on", "our", "unique", "ViRob", "and", "TipCAT", "micro", "-", "robotic", "technology", "platforms", ",", "is", "becoming", "a", "reality", "as", "our", "lead", "product", "candidates", "for", "Cerebrospinal", "Fluid", "(", "CSF", ")", "and", "Gastrointestinal", "(", "GI", ")", "Disorders", "continue", "to", "progress", "\"", ",", "commented", "Harel", "Gadot", ",", "Chairman", "and", "Chief", "Executive", "Officer", "of", "Microbot", "Medical", ".", "\"", "The", "completion", "of", "this", "merger", "is", "a", "significant", "milestone", "and", "enables", "us", "to", "capitalize", "on", "Microbot", "Medical", "'s", "unique", "core", "capabilities", "and", "fund", "our", "next", "generation", "of", "micro", "-", "robotic", "medical", "products", ".", "We", "anticipate", "FDA", "submission", "for", "these", "products", "in", "the", "near", "future", ",", "and", "once", "commercialized", ",", "our", "robust", "pipeline", "is", "expected", "to", "deliver", "a", "succession", "of", "new", "product", "launches", "and", "applications", "driving", "our", "short", ",", "mid", "and", "long", "term", "revenue", "prospects", "\"", ",", "concluded", "Mr", ".", "Gadot", ".", "Following", "the", "completion", "of", "the", "merger", "and", "one", "-", "for", "-", "nine", "reverse", "stock", "split", ",", "there", "are", "approximately", "39", "million", "shares", "of", "common", "stock", "outstanding", ".", "Under", "the", "terms", "of", "the", "merger", "agreement", "with", "StemCells", ",", "the", "shareholders", "of", "Microbot", "Medical", ",", "and", "certain", "advisors", "and", "consultants", "with", "respect", "to", "the", "merger", ",", "received", "shares", "of", "StemCells", "common", "stock", "representing", "approximately", "95", "%", "of", "the", "outstanding", "shares", "of", "StemCells", "calculated", "on", "a", "fully", "diluted", "basis", ".", "Stockholders", "of", "StemCells", "prior", "to", "the", "merger", "have", "retained", "approximately", "5", "%", "of", "the", "company", ".", "Microbot", "'s", "leadership", "includes", "Mr", ".", "Gadot", ",", "a", "co", "-", "founder", "who", "previously", "served", "as", "a", "Worldwide", "Group", "Marketing", "Director", "at", "Johnson", "&", "Johnson", "'s", "surgical", "device", "company", "Ethicon", "Inc", ".", "Additionally", ",", "Prof", ".", "Moshe", "Shoham", ",", "an", "inventor", "of", "Microbot", "'s", "technologies", "and", "a", "co", "-", "founder", "of", "the", "Company", "will", "remain", "on", "the", "Board", "of", "Directors", "and", "the", "company", "'s", "Scientific", "Advisory", "Board", ".", "Professor", "Shoham", "also", "founded", "Mazor", "Robotics", "Ltd", ".", "(", "Nasdaq", "GM", ":", "MZOR", ";", "TASE", ":", "MZOR", ")", ".", "The", "current", "members", "of", "the", "Board", "of", "Directors", "of", "Microbot", "Medical", "will", "serve", "on", "the", "Board", "of", "Directors", "of", "the", "company", ",", "with", "the", "addition", "of", "Scott", "Burell", ",", "a", "seasoned", "public", "company", "executive", "who", "currently", "serves", "as", "Chief", "Financial", "Officer", ",", "Secretary", "and", "Treasurer", "of", "CombiMatrix", "Corporation", "(", "Nasdaq", ":", "CBMX", ")", ".", "The", "Company", "'s", "corporate", "headquarters", "will", "be", "located", "in", "Hingham", ",", "Massachusetts", "and", "Yokneam", ",", "Israel", ".", "About", "Microbot", "Medical", "Inc", ".", "Microbot", "Medical", "is", "a", "medical", "device", "company", "specializing", "in", "the", "design", "and", "development", "of", "transformational", "micro", "-", "robotic", "medical", "technologies", ".", "The", "Company", "is", "primarily", "focused", "on", "leveraging", "its", "micro", "-", "robotic", "technologies", "with", "the", "goal", "of", "allowing", "more", "physicians", "to", "treat", "more", "patients", "while", "improving", "surgical", "outcomes", "for", "patients", ".", "The", "Company", "is", "currently", "developing", "its", "first", "two", "product", "candidates", ":", "the", "Self", "Cleaning", "Shunt", ",", "or", "SCS", ",", "for", "the", "treatment", "of", "hydrocephalus", "and", "Normal", "Pressure", "Hydrocephalus", ",", "or", "NPH", ";", "and", "TipCAT", ",", "a", "self", "-", "propelling", ",", "semi", "-", "disposable", "endoscope", "that", "is", "being", "developed", "initially", "for", "use", "in", "colonoscopy", "procedures", ".", "Further", "information", "about", "Microbot", "Medical", "is", "available", "at", "http://www.microbotmedical.com", ".", "Safe", "Harbor", "Statements", "pertaining", "to", "future", "financial", "and", "/", "or", "operating", "results", ",", "future", "growth", "in", "research", ",", "technology", ",", "clinical", "development", ",", "and", "potential", "opportunities", "for", "Microbot", "Medical", "Inc", ".", "and", "its", "subsidiaries", ",", "along", "with", "other", "statements", "about", "the", "future", "expectations", ",", "beliefs", ",", "goals", ",", "plans", ",", "or", "prospects", "expressed", "by", "management", "constitute", "forward", "-", "looking", "statements", ".", "Any", "statements", "that", "are", "not", "historical", "fact", "(", "including", ",", "but", "not", "limited", "to", "statements", "that", "contain", "words", "such", "as", "\"", "will", "\"", ",", "\"", "believes", "\"", ",", "\"", "plans", "\"", ",", "\"", "anticipates", "\"", ",", "\"", "expects", "\"", "and", "\"", "estimates", "\"", ")", "should", "also", "be", "considered", "to", "be", "forward", "-", "looking", "statements", ".", "Forward", "-", "looking", "statements", "involve", "risks", "and", "uncertainties", ",", "including", ",", "without", "limitation", ",", "risks", "inherent", "in", "the", "development", "and", "/", "or", "commercialization", "of", "potential", "products", ",", "uncertainty", "in", "the", "results", "of", "clinical", "trials", "or", "regulatory", "approvals", ",", "need", "and", "ability", "to", "obtain", "future", "capital", ",", "and", "maintenance", "of", "intellectual", "property", "rights", ".", "Actual", "results", "may", "differ", "materially", "from", "the", "results", "anticipated", "in", "these", "forward", "-", "looking", "statements", "and", "as", "such", "should", "be", "evaluated", "together", "with", "the", "many", "uncertainties", "that", "affect", "the", "businesses", "of", "Microbot", "Medical", "Inc", ".", "particularly", "those", "mentioned", "in", "the", "cautionary", "statements", "found", "in", "Microbot", "Medical", "Inc", ".", "'s", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", ".", "Microbot", "Medical", "Inc", ".", "disclaims", "any", "intent", "or", "obligation", "to", "update", "these", "forward", "-", "looking", "statements", ".", "Investor", "Contacts", ":", "EVC", "Group", "Michael", "Polyviou", "/", "Doug", "Sherk", "-", "Investors", "[email protected]", ";", "[email protected]", "212", "-", "850", "-", "6020", ";", "415", "-", "652", "-", "9100", "#", "#", "#" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
59255-000005925507000035-valhipr
EX-99.2 6 valhipr.htm VALHI PRESS RELEASE EXHIBIT 99.2 Valhi Press Release Exhibit 99.2 EXHIBIT 99.2 VALHI COMPLETES SPECIAL DIVIDEND OF TIMET COMMON STOCK DALLAS, TEXAS... March 26, 2007... Valhi, Inc. (NYSE: VHI) announced today that it has completed the special dividend to its stockholders of shares of Titanium Metals Corporation ("TIMET") common stock (NYSE: TIE) owned by Valhi. This special dividend was paid on March 26, 2007 to Valhi's stockholders of record at the close of business on March 12, 2007. As a result of the special dividend, each Valhi stockholder received 0.4776 of a share of TIMET common stock for each share of Valhi common stock held and cash in lieu of any resulting fractional share of TIMET common stock. As previously disclosed, immediately after the payment of the special dividend, Contran Corporation and its subsidiaries and related parties continue to own approximately 51.9% of the outstanding TIMET common stock compared to the approximately 53.8% held prior to the special dividend, in each case assuming the full conversion of any TIMET 6¾% series A preferred stock held by such entities or parties. Tax Matters As previously disclosed, subject to the determination of Valhi's 2007 year-end earnings and profits, the federal income tax treatment to a Valhi stockholder of the special dividend and regular quarterly cash dividends (the "distributions") will be as follows: · The amount of the distributions will be the value on the payment date of the TIMET shares (including any fractional share) of $36.90 per share and the cash received by a Valhi stockholder for regular quarterly dividends; · The distributions will be taxable as dividend income to the extent of Valhi's current or accumulated earnings and profits; · If the distributions exceed Valhi's current or accumulated earnings and profits, they will be treated as a non-taxable return of capital to the extent of a stockholder's basis in such stockholder's Valhi stock; · Any remaining portion of the distributions will be treated as a capital gain; and · If a stockholder receives cash in lieu of a fractional share of TIMET common stock, such holder may recognize short-term capital gain or loss equal to the difference between the cash received and the portion of the value of TIMET common stock that is allocable to the fractional share. Valhi currently believes that a majority, if not all, of the distributions will likely be considered either a non-taxable return of capital and/or a capital gain. However, if any or all of the distributions were to be treated as a dividend for federal income tax purposes, such dividend could be considered an "extraordinary dividend" for Valhi stockholders that are corporations, which could result in a reduction to such corporate stockholders' tax basis in their Valhi stock. The specific tax treatment of the distributions will not be determined until after December 31, 2007. Each stockholder should receive a Form 1099 or a letter from Valhi reporting the appropriate tax treatment. Holders of Valhi common stock are urged to consult with their tax advisor as to their specific tax treatment of the distributions. Valhi is a member of the consolidated U.S. federal tax group of which Contran Corporation is the parent company. As a member of the Contran consolidated tax group and pursuant to a pre-existing tax policy between Valhi and Contran, Valhi computes its provision for U.S. income taxes on a separate company basis using tax elections made by Contran and makes payments to Contran or receives payments from Contran in amounts it would have paid to or received from the U.S. Internal Revenue Service had it not been a member of the Contran tax group but instead had been a separate taxpayer. Upon the payment of the special dividend and pursuant to the tax policy between Valhi and Contran, Valhi incurred a tax obligation to Contran. The amount of the obligation is a function of the difference between the aggregate value of the TIMET common stock shares distributed based on the closing market price of the distributed shares of TIMET common stock on the date of distribution ($36.90 per share) less Valhi's tax basis in such shares. This obligation is approximately $667.3 million. In order to discharge this obligation to Contran, Valhi has issued to Contran 5,000 shares of a new issue of Valhi 6% series A preferred stock having an aggregate liquidation preference equal to the actual tax obligation created by the special dividend. Valhi is engaged in the titanium dioxide pigments, component products (security products, furniture components and performance marine components) and waste management industries. The statements in this release relating to matters that are not historical facts are forward-looking statements that represent management's beliefs and assumptions based on currently available information. Forward-looking statements can be identified by the use of words such as "believes", "intends", "may", "will," "should", "could", "anticipates", "expects", or comparable terminology or by discussions of strategy or trends. Although Valhi believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give any assurances that these expectations will prove to be correct. Such statements by their nature involve risks and uncertainties, including, but not limited to, the cyclicality of the titanium dioxide industry, global economic and political conditions, changes in global productive capacity, changes in customer inventory levels, changes in product pricing, changes in product costing, changes in foreign currency exchange rates, competitive technology positions, operating interruptions (including, but not limited to, labor disputes, leaks, fires, explosions, unscheduled downtime, transportation interruptions, war and terrorist activities), the ultimate resolution of pending or possible future lead pigment litigation and legislative developments related to the lead paint litigation, the outcome of other litigation, and other risks and uncertainties detailed in the Valhi's U.S. Securities and Exchange Commission filings. Should one or more of these risks materialize (or the consequences of such a development worsen), or should the underlying assumptions prove incorrect, actual results could differ materially from those forecasted or expected. Valhi disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise. * * * * *
[ "EX", "-", "99", ".", "2", "6", "valhipr", ".", "htm", "VALHI", "PRESS", "RELEASE", "EXHIBIT", "99", ".", "2", "Valhi", "Press", "Release", "Exhibit", "99", ".", "2", "EXHIBIT", "99", ".", "2", "VALHI", "COMPLETES", "SPECIAL", "DIVIDEND", "OF", "TIMET", "COMMON", "STOCK", "DALLAS", ",", "TEXAS", "...", "March", "26", ",", "2007", "...", "Valhi", ",", "Inc", ".", "(", "NYSE", ":", "VHI", ")", "announced", "today", "that", "it", "has", "completed", "the", "special", "dividend", "to", "its", "stockholders", "of", "shares", "of", "Titanium", "Metals", "Corporation", "(", "\"", "TIMET", "\"", ")", "common", "stock", "(", "NYSE", ":", "TIE", ")", "owned", "by", "Valhi", ".", "This", "special", "dividend", "was", "paid", "on", "March", "26", ",", "2007", "to", "Valhi", "'s", "stockholders", "of", "record", "at", "the", "close", "of", "business", "on", "March", "12", ",", "2007", ".", "As", "a", "result", "of", "the", "special", "dividend", ",", "each", "Valhi", "stockholder", "received", "0", ".", "4776", "of", "a", "share", "of", "TIMET", "common", "stock", "for", "each", "share", "of", "Valhi", "common", "stock", "held", "and", "cash", "in", "lieu", "of", "any", "resulting", "fractional", "share", "of", "TIMET", "common", "stock", ".", "As", "previously", "disclosed", ",", "immediately", "after", "the", "payment", "of", "the", "special", "dividend", ",", "Contran", "Corporation", "and", "its", "subsidiaries", "and", "related", "parties", "continue", "to", "own", "approximately", "51", ".", "9", "%", "of", "the", "outstanding", "TIMET", "common", "stock", "compared", "to", "the", "approximately", "53", ".", "8", "%", "held", "prior", "to", "the", "special", "dividend", ",", "in", "each", "case", "assuming", "the", "full", "conversion", "of", "any", "TIMET", "6", "¾", "%", "series", "A", "preferred", "stock", "held", "by", "such", "entities", "or", "parties", ".", "Tax", "Matters", "As", "previously", "disclosed", ",", "subject", "to", "the", "determination", "of", "Valhi", "'s", "2007", "year", "-", "end", "earnings", "and", "profits", ",", "the", "federal", "income", "tax", "treatment", "to", "a", "Valhi", "stockholder", "of", "the", "special", "dividend", "and", "regular", "quarterly", "cash", "dividends", "(", "the", "\"", "distributions", "\"", ")", "will", "be", "as", "follows", ":", "·", "The", "amount", "of", "the", "distributions", "will", "be", "the", "value", "on", "the", "payment", "date", "of", "the", "TIMET", "shares", "(", "including", "any", "fractional", "share", ")", "of", "$", "36.90", "per", "share", "and", "the", "cash", "received", "by", "a", "Valhi", "stockholder", "for", "regular", "quarterly", "dividends", ";", "·", "The", "distributions", "will", "be", "taxable", "as", "dividend", "income", "to", "the", "extent", "of", "Valhi", "'s", "current", "or", "accumulated", "earnings", "and", "profits", ";", "·", "If", "the", "distributions", "exceed", "Valhi", "'", "s", "current", "or", "accumulated", "earnings", "and", "profits", ",", "they", "will", "be", "treated", "as", "a", "non", "-", "taxable", "return", "of", "capital", "to", "the", "extent", "of", "a", "stockholder", "'s", "basis", "in", "such", "stockholder", "'s", "Valhi", "stock", ";", "·", "Any", "remaining", "portion", "of", "the", "distributions", "will", "be", "treated", "as", "a", "capital", "gain", ";", "and", "·", "If", "a", "stockholder", "receives", "cash", "in", "lieu", "of", "a", "fractional", "share", "of", "TIMET", "common", "stock", ",", "such", "holder", "may", "recognize", "short", "-", "term", "capital", "gain", "or", "loss", "equal", "to", "the", "difference", "between", "the", "cash", "received", "and", "the", "portion", "of", "the", "value", "of", "TIMET", "common", "stock", "that", "is", "allocable", "to", "the", "fractional", "share", ".", "Valhi", "currently", "believes", "that", "a", "majority", ",", "if", "not", "all", ",", "of", "the", "distributions", "will", "likely", "be", "considered", "either", "a", "non", "-", "taxable", "return", "of", "capital", "and", "/", "or", "a", "capital", "gain", ".", "However", ",", "if", "any", "or", "all", "of", "the", "distributions", "were", "to", "be", "treated", "as", "a", "dividend", "for", "federal", "income", "tax", "purposes", ",", "such", "dividend", "could", "be", "considered", "an", "\"", "extraordinary", "dividend", "\"", "for", "Valhi", "stockholders", "that", "are", "corporations", ",", "which", "could", "result", "in", "a", "reduction", "to", "such", "corporate", "stockholders", "'", "tax", "basis", "in", "their", "Valhi", "stock", ".", "The", "specific", "tax", "treatment", "of", "the", "distributions", "will", "not", "be", "determined", "until", "after", "December", "31", ",", "2007", ".", "Each", "stockholder", "should", "receive", "a", "Form", "1099", "or", "a", "letter", "from", "Valhi", "reporting", "the", "appropriate", "tax", "treatment", ".", "Holders", "of", "Valhi", "common", "stock", "are", "urged", "to", "consult", "with", "their", "tax", "advisor", "as", "to", "their", "specific", "tax", "treatment", "of", "the", "distributions", ".", "Valhi", "is", "a", "member", "of", "the", "consolidated", "U", ".", "S", ".", "federal", "tax", "group", "of", "which", "Contran", "Corporation", "is", "the", "parent", "company", ".", "As", "a", "member", "of", "the", "Contran", "consolidated", "tax", "group", "and", "pursuant", "to", "a", "pre", "-", "existing", "tax", "policy", "between", "Valhi", "and", "Contran", ",", "Valhi", "computes", "its", "provision", "for", "U", ".", "S", ".", "income", "taxes", "on", "a", "separate", "company", "basis", "using", "tax", "elections", "made", "by", "Contran", "and", "makes", "payments", "to", "Contran", "or", "receives", "payments", "from", "Contran", "in", "amounts", "it", "would", "have", "paid", "to", "or", "received", "from", "the", "U", ".", "S", ".", "Internal", "Revenue", "Service", "had", "it", "not", "been", "a", "member", "of", "the", "Contran", "tax", "group", "but", "instead", "had", "been", "a", "separate", "taxpayer", ".", "Upon", "the", "payment", "of", "the", "special", "dividend", "and", "pursuant", "to", "the", "tax", "policy", "between", "Valhi", "and", "Contran", ",", "Valhi", "incurred", "a", "tax", "obligation", "to", "Contran", ".", "The", "amount", "of", "the", "obligation", "is", "a", "function", "of", "the", "difference", "between", "the", "aggregate", "value", "of", "the", "TIMET", "common", "stock", "shares", "distributed", "based", "on", "the", "closing", "market", "price", "of", "the", "distributed", "shares", "of", "TIMET", "common", "stock", "on", "the", "date", "of", "distribution", "(", "$", "36.90", "per", "share", ")", "less", "Valhi", "'s", "tax", "basis", "in", "such", "shares", ".", "This", "obligation", "is", "approximately", "$", "667.3 million", ".", "In", "order", "to", "discharge", "this", "obligation", "to", "Contran", ",", "Valhi", "has", "issued", "to", "Contran", "5,000", "shares", "of", "a", "new", "issue", "of", "Valhi", "6", "%", "series", "A", "preferred", "stock", "having", "an", "aggregate", "liquidation", "preference", "equal", "to", "the", "actual", "tax", "obligation", "created", "by", "the", "special", "dividend", ".", "Valhi", "is", "engaged", "in", "the", "titanium", "dioxide", "pigments", ",", "component", "products", "(", "security", "products", ",", "furniture", "components", "and", "performance", "marine", "components", ")", "and", "waste", "management", "industries", ".", "The", "statements", "in", "this", "release", "relating", "to", "matters", "that", "are", "not", "historical", "facts", "are", "forward", "-", "looking", "statements", "that", "represent", "management", "'s", "beliefs", "and", "assumptions", "based", "on", "currently", "available", "information", ".", "Forward", "-", "looking", "statements", "can", "be", "identified", "by", "the", "use", "of", "words", "such", "as", "\"", "believes", "\"", ",", "\"", "intends", "\"", ",", "\"", "may", "\"", ",", "\"", "will", ",", "\"", "\"", "should", "\"", ",", "\"", "could", "\"", ",", "\"", "anticipates", "\"", ",", "\"", "expects", "\"", ",", "or", "comparable", "terminology", "or", "by", "discussions", "of", "strategy", "or", "trends", ".", "Although", "Valhi", "believes", "that", "the", "expectations", "reflected", "in", "such", "forward", "-", "looking", "statements", "are", "reasonable", ",", "it", "can", "not", "give", "any", "assurances", "that", "these", "expectations", "will", "prove", "to", "be", "correct", ".", "Such", "statements", "by", "their", "nature", "involve", "risks", "and", "uncertainties", ",", "including", ",", "but", "not", "limited", "to", ",", "the", "cyclicality", "of", "the", "titanium", "dioxide", "industry", ",", "global", "economic", "and", "political", "conditions", ",", "changes", "in", "global", "productive", "capacity", ",", "changes", "in", "customer", "inventory", "levels", ",", "changes", "in", "product", "pricing", ",", "changes", "in", "product", "costing", ",", "changes", "in", "foreign", "currency", "exchange", "rates", ",", "competitive", "technology", "positions", ",", "operating", "interruptions", "(", "including", ",", "but", "not", "limited", "to", ",", "labor", "disputes", ",", "leaks", ",", "fires", ",", "explosions", ",", "unscheduled", "downtime", ",", "transportation", "interruptions", ",", "war", "and", "terrorist", "activities", ")", ",", "the", "ultimate", "resolution", "of", "pending", "or", "possible", "future", "lead", "pigment", "litigation", "and", "legislative", "developments", "related", "to", "the", "lead", "paint", "litigation", ",", "the", "outcome", "of", "other", "litigation", ",", "and", "other", "risks", "and", "uncertainties", "detailed", "in", "the", "Valhi", "'s", "U", ".", "S", ".", "Securities", "and", "Exchange", "Commission", "filings", ".", "Should", "one", "or", "more", "of", "these", "risks", "materialize", "(", "or", "the", "consequences", "of", "such", "a", "development", "worsen", ")", ",", "or", "should", "the", "underlying", "assumptions", "prove", "incorrect", ",", "actual", "results", "could", "differ", "materially", "from", "those", "forecasted", "or", "expected", ".", "Valhi", "disclaims", "any", "intention", "or", "obligation", "to", "update", "publicly", "or", "revise", "such", "statements", ",", "whether", "as", "a", "result", "of", "new", "information", ",", "future", "events", "or", "otherwise", ".", "*", "*", "*", "*", "*" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1280396-000120445909000972-exh991
EX-99.1 2 exh991.htm EXHIBIT 99.1 Yukon Gold Corporation, Inc.: Exhibit 99.1 - Prepared by TNT Filings Inc. Exhibit 99.1 Yukon Gold Announces Option Assignment of its Mount Hinton Property Toronto, Canada, May 21, 2009, Yukon Gold Corporation, Inc. ("Yukon Gold" or the "Company") (TSX: YK) (OTCBB: YGDC) (Frankfurt: W8Y) is announcing today that it has sold to "The Hinton Syndicate" all of its rights, title and interest in the Mount Hinton Property for consideration of: (i) One Hundred and Twenty-Five Thousand Canadian Dollars (CDN$125,000) paid upon closing of this transaction (the "Closing") and (ii) a 2% "NSR" on the Mount Hinton Property. The 2% NSR may be terminated at any time following closing by payment to Yukon Gold of an "NSR Buy-Out Payment". The "NSR Buy-Out Payment" is structured over several years increasing in value from a minimum of $CDN115,000 and by $CDN25,000 per year until the buy-out is completed. Yukon Gold has assigned a work permit (Approval #LQ00242) to Mr. Richard Ewing, a member of "The Hinton Syndicate" and Mr. Ewing agreed to accept such assignment and reclamation and closure plan responsibilities that run with the work permit. Yukon Gold and its subsidiary have no further obligations of any kind under the terms of the assignment. Yukon Gold would like to thank "The Hinton Syndicate" for their efforts in negotiating this agreement. About Yukon Gold Yukon Gold Corporation, Inc. (Yukon Gold) explores and develops mining properties with a commitment to moving projects towards production. Currently there are 40.5M of the Company's common shares outstanding. FOR FURTHER INFORMATION PLEASE CONTACT: Yukon Gold Corporation, Inc. Cletus Ryan, VP Corporate Development 416-865-9869 or 1-800-295-0671 x12 Email: [email protected] Website: www.yukongoldcorp.com FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other ecological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements. Cautionary Note to US Investors - The United States Securities and Exchange Commission (SEC) limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. The reader is cautioned that the terms "resource", "indicated" and "inferred" are not terms recognized by SEC guidelines for disclosure of mineral properties. Generally, "indicated" and "inferred" estimates do not rise to the level of certainty required by SEC guidelines. The mineralized material described above is not considered a "reserve" as that term is used in the mining industry and in SEC disclosure guidelines. The Company must undertake a feasibility study before it can estimate the value of the Marg Deposit. U.S. investors are urged to consider closely the disclosure in our Form 10-KSB, File No. 000-51068. You can review and obtain copies of these filings from the SEC's website at http://www.sec.gov/edgar.shtml .
[ "EX", "-", "99", ".", "1", "2", "exh991", ".", "htm", "EXHIBIT", "99", ".", "1", "Yukon", "Gold", "Corporation", ",", "Inc", ".", ":", "Exhibit", "99", ".", "1", "-", "Prepared", "by", "TNT", "Filings", "Inc", ".", "Exhibit", "99", ".", "1", "Yukon", "Gold", "Announces", "Option", "Assignment", "of", "its", "Mount", "Hinton", "Property", "Toronto", ",", "Canada", ",", "May", "21", ",", "2009", ",", "Yukon", "Gold", "Corporation", ",", "Inc", ".", "(", "\"", "Yukon", "Gold", "\"", "or", "the", "\"", "Company", "\"", ")", "(", "TSX", ":", "YK", ")", "(", "OTCBB", ":", "YGDC", ")", "(", "Frankfurt", ":", "W8Y", ")", "is", "announcing", "today", "that", "it", "has", "sold", "to", "\"", "The", "Hinton", "Syndicate", "\"", "all", "of", "its", "rights", ",", "title", "and", "interest", "in", "the", "Mount", "Hinton", "Property", "for", "consideration", "of", ":", "(", "i", ")", "One", "Hundred", "and", "Twenty", "-", "Five", "Thousand", "Canadian", "Dollars", "(", "CDN", "$", "125,000", ")", "paid", "upon", "closing", "of", "this", "transaction", "(", "the", "\"", "Closing", "\"", ")", "and", "(", "ii", ")", "a", "2", "%", "\"", "NSR", "\"", "on", "the", "Mount", "Hinton", "Property", ".", "The", "2", "%", "NSR", "may", "be", "terminated", "at", "any", "time", "following", "closing", "by", "payment", "to", "Yukon", "Gold", "of", "an", "\"", "NSR", "Buy", "-", "Out", "Payment", "\"", ".", "The", "\"", "NSR", "Buy", "-", "Out", "Payment", "\"", "is", "structured", "over", "several", "years", "increasing", "in", "value", "from", "a", "minimum", "of", "$", "CDN115,000", "and", "by", "$", "CDN25,000", "per", "year", "until", "the", "buy", "-", "out", "is", "completed", ".", "Yukon", "Gold", "has", "assigned", "a", "work", "permit", "(", "Approval", "#", "LQ00242", ")", "to", "Mr", ".", "Richard", "Ewing", ",", "a", "member", "of", "\"", "The", "Hinton", "Syndicate", "\"", "and", "Mr", ".", "Ewing", "agreed", "to", "accept", "such", "assignment", "and", "reclamation", "and", "closure", "plan", "responsibilities", "that", "run", "with", "the", "work", "permit", ".", "Yukon", "Gold", "and", "its", "subsidiary", "have", "no", "further", "obligations", "of", "any", "kind", "under", "the", "terms", "of", "the", "assignment", ".", "Yukon", "Gold", "would", "like", "to", "thank", "\"", "The", "Hinton", "Syndicate", "\"", "for", "their", "efforts", "in", "negotiating", "this", "agreement", ".", "About", "Yukon", "Gold", "Yukon", "Gold", "Corporation", ",", "Inc", ".", "(", "Yukon", "Gold", ")", "explores", "and", "develops", "mining", "properties", "with", "a", "commitment", "to", "moving", "projects", "towards", "production", ".", "Currently", "there", "are", "40", ".", "5M", "of", "the", "Company", "'s", "common", "shares", "outstanding", ".", "FOR", "FURTHER", "INFORMATION", "PLEASE", "CONTACT", ":", "Yukon", "Gold", "Corporation", ",", "Inc", ".", "Cletus", "Ryan", ",", "VP", "Corporate", "Development", "416", "-", "865", "-", "9869", "or", "1", "-", "800", "-", "295", "-", "0671", "x12", "Email", ":", "[email protected]", "Website", ":", "www.yukongoldcorp.com", "FORWARD", "-", "LOOKING", "STATEMENTS", ":", "This", "news", "release", "contains", "certain", "\"", "forward", "-", "looking", "statements", "\"", "within", "the", "meaning", "of", "Section", "21E", "of", "the", "United", "States", "Securities", "Exchange", "Act", "of", "1934", ",", "as", "amended", ".", "Except", "for", "statements", "of", "historical", "fact", "relating", "to", "the", "company", ",", "certain", "information", "contained", "herein", "constitutes", "forward", "-", "looking", "statements", ".", "Forward", "-", "looking", "statements", "are", "frequently", "characterized", "by", "words", "such", "as", "\"", "plan", "\"", ",", "\"", "expect", "\"", ",", "\"", "project", "\"", ",", "\"", "intend", "\"", ",", "\"", "believe", "\"", ",", "\"", "anticipate", "\"", ",", "\"", "estimate", "\"", "and", "other", "similar", "words", ",", "or", "statements", "that", "certain", "events", "or", "conditions", "\"", "may", "\"", "or", "\"", "will", "\"", "occur", ".", "Forward", "-", "looking", "statements", "are", "based", "on", "the", "opinions", "and", "estimates", "of", "management", "at", "the", "date", "the", "statements", "are", "made", ",", "and", "are", "subject", "to", "a", "variety", "of", "risks", "and", "uncertainties", "and", "other", "factors", "that", "could", "cause", "actual", "events", "or", "results", "to", "differ", "materially", "from", "those", "projected", "in", "the", "forward", "-", "looking", "statements", ".", "These", "factors", "include", "the", "inherent", "risks", "involved", "in", "the", "exploration", "and", "development", "of", "mineral", "properties", ",", "the", "uncertainties", "involved", "in", "interpreting", "drilling", "results", "and", "other", "ecological", "data", ",", "fluctuating", "metal", "prices", ",", "the", "possibility", "of", "project", "cost", "overruns", "or", "unanticipated", "costs", "and", "expenses", ",", "uncertainties", "relating", "to", "the", "availability", "and", "costs", "of", "financing", "needed", "in", "the", "future", "and", "other", "factors", ".", "The", "Company", "undertakes", "no", "obligation", "to", "update", "forward", "-", "looking", "statements", "if", "circumstances", "or", "management", "'s", "estimates", "or", "opinions", "should", "change", ".", "The", "reader", "is", "cautioned", "not", "to", "place", "undue", "reliance", "on", "forward", "-", "looking", "statements", ".", "Cautionary", "Note", "to", "US", "Investors", "-", "The", "United", "States", "Securities", "and", "Exchange", "Commission", "(", "SEC", ")", "limits", "disclosure", "for", "U", ".", "S", ".", "reporting", "purposes", "to", "mineral", "deposits", "that", "a", "company", "can", "economically", "and", "legally", "extract", "or", "produce", ".", "The", "reader", "is", "cautioned", "that", "the", "terms", "\"", "resource", "\"", ",", "\"", "indicated", "\"", "and", "\"", "inferred", "\"", "are", "not", "terms", "recognized", "by", "SEC", "guidelines", "for", "disclosure", "of", "mineral", "properties", ".", "Generally", ",", "\"", "indicated", "\"", "and", "\"", "inferred", "\"", "estimates", "do", "not", "rise", "to", "the", "level", "of", "certainty", "required", "by", "SEC", "guidelines", ".", "The", "mineralized", "material", "described", "above", "is", "not", "considered", "a", "\"", "reserve", "\"", "as", "that", "term", "is", "used", "in", "the", "mining", "industry", "and", "in", "SEC", "disclosure", "guidelines", ".", "The", "Company", "must", "undertake", "a", "feasibility", "study", "before", "it", "can", "estimate", "the", "value", "of", "the", "Marg", "Deposit", ".", "U", ".", "S", ".", "investors", "are", "urged", "to", "consider", "closely", "the", "disclosure", "in", "our", "Form", "10", "-", "KSB", ",", "File", "No", ".", "000", "-", "51068", ".", "You", "can", "review", "and", "obtain", "copies", "of", "these", "filings", "from", "the", "SEC", "'s", "website", "at", "http://www.sec.gov/edgar.shtml", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1069469-000120677406000109-pb101234ex991
EX-99.1 10 pb101234ex991.htm EXHIBIT 99.1 Exhibit 99.1 Contact: Scott Meyerhoff Private Business, Inc. 678-728-4464 PBIZ Acquires PTC Banking Systems and its WinTELLER ® Suite Financial Services Provider Expands Technology Offering with Teller Automation Solution NASHVILLE, Tennessee (January 18, 2006) - Private Business, Inc. (NASDAQ:PBIZ), ("PBIZ"), a provider of technology solutions for financial institutions, today announced it has acquired the assets of P.T.C. Banking Systems, Inc. PTC is a leading developer of teller automation products, servicing approximately 80 financial institutions throughout the United States from its headquarters in Bradenton, Florida. PTC's flagship product, WinTELLER, is a full-featured teller automation system designed to help bank branches better manage customer account transactions, improve teller efficiency, and enhance customer experiences. This strategic acquisition greatly complements the financial technology products and services of PBIZ and provides for a more robust solution to better serve community financial institutions. Terms of the agreement were not disclosed. Lynn Boggs, Chief Executive Officer of PBIZ, stated, "Acquiring a proprietary teller system that can be integrated into our core processing platform was a high priority for us. This acquisition is another step in our plan to provide a full product suite to community financial institutions, which includes our current core processing service, lending products, marketing services, and our newest addition of teller solutions. We're pleased to welcome the customers of PTC to the PBIZ family and will continue to provide the high level of service they have received from PTC". Kjell Purnell, the current President and Chief Executive Officer of PTC, said, "I'm looking forward to joining PBIZ and working with the management team to grow the combined Company's revenue. The complementary relationship between the existing PBIZ product line and WinTELLER will provide immediate benefit to our existing as well as future customers". About PTC PTC Banking Systems, Inc. (PTC) is a leading developer of branch automation products for the commercial and community banking industry. For over 30 years, banks have selected PTC software, such as WinTELLER®, WinGUARD® and CaptureFIRST to positively impact their branch operations and help them better manage customer relationships. With a history of customer relationships built upon trust and the importance of customer service, PTC is a great mechanism for delivering branch automation needs to financial institutions. About PBIZ Private Business, Inc. (PBIZ) offers a fully-featured strategic product suite that provides core data processing, along with accounts receivable financing, Internet banking, cash management, CRM/business intelligence, financial accounting tools, Check 21 compliance, electronic image/item processing, and online debt collections. PBIZ believes its full suite of products and services will allow financial institutions and their small-to-medium sized business customers to better compete in today's aggressive financial services marketplace, and grow their trusted financial relationships, while providing increased profitability through the efficient use of technology and an expanded community presence. -MORE- PBIZ Acquires PTC Banking Systems Page 2 January 18, 2006 For more information about PBIZ, or its line of products for financial institutions, please visit us on the web at www.pbizinc.com or contact marketing via email at [email protected] or call, 800-235-5584. Safe Harbor Statement Certain statements made in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management's current expectations and include known and unknown risks, uncertainties and other factors, many of which the company is unable to predict or control, that may cause the company's actual results or performance to materially differ from any future results or performance expressed or implied by such forward-looking statements. These statements involve risks and uncertainties, including, without limitation, risks and uncertainties associated with the company's ability to replace its senior credit facility, to achieve its growth plans and to identify, complete, or integrate acquisitions. These risks and uncertainties are in addition to other factors detailed from time to time in the company's filings with the Securities and Exchange Commission. The company cautions investors that any forward-looking statements made by the company are not necessarily indicative of future performance. The company is not responsible for updating the information contained in this press release beyond the published date, or for changes made to this document by wire services or Internet services. -END-
[ "EX", "-", "99", ".", "1", "10", "pb101234ex991", ".", "htm", "EXHIBIT", "99", ".", "1", "Exhibit", "99", ".", "1", "Contact", ":", "Scott", "Meyerhoff", "Private", "Business", ",", "Inc", ".", "678", "-", "728", "-", "4464", "PBIZ", "Acquires", "PTC", "Banking", "Systems", "and", "its", "WinTELLER", "®", "Suite", "Financial", "Services", "Provider", "Expands", "Technology", "Offering", "with", "Teller", "Automation", "Solution", "NASHVILLE", ",", "Tennessee", "(", "January", "18", ",", "2006", ")", "-", "Private", "Business", ",", "Inc", ".", "(", "NASDAQ", ":", "PBIZ", ")", ",", "(", "\"", "PBIZ", "\"", ")", ",", "a", "provider", "of", "technology", "solutions", "for", "financial", "institutions", ",", "today", "announced", "it", "has", "acquired", "the", "assets", "of", "P", ".", "T", ".", "C", ".", "Banking", "Systems", ",", "Inc", ".", "PTC", "is", "a", "leading", "developer", "of", "teller", "automation", "products", ",", "servicing", "approximately", "80", "financial", "institutions", "throughout", "the", "United", "States", "from", "its", "headquarters", "in", "Bradenton", ",", "Florida", ".", "PTC", "'s", "flagship", "product", ",", "WinTELLER", ",", "is", "a", "full", "-", "featured", "teller", "automation", "system", "designed", "to", "help", "bank", "branches", "better", "manage", "customer", "account", "transactions", ",", "improve", "teller", "efficiency", ",", "and", "enhance", "customer", "experiences", ".", "This", "strategic", "acquisition", "greatly", "complements", "the", "financial", "technology", "products", "and", "services", "of", "PBIZ", "and", "provides", "for", "a", "more", "robust", "solution", "to", "better", "serve", "community", "financial", "institutions", ".", "Terms", "of", "the", "agreement", "were", "not", "disclosed", ".", "Lynn", "Boggs", ",", "Chief", "Executive", "Officer", "of", "PBIZ", ",", "stated", ",", "\"", "Acquiring", "a", "proprietary", "teller", "system", "that", "can", "be", "integrated", "into", "our", "core", "processing", "platform", "was", "a", "high", "priority", "for", "us", ".", "This", "acquisition", "is", "another", "step", "in", "our", "plan", "to", "provide", "a", "full", "product", "suite", "to", "community", "financial", "institutions", ",", "which", "includes", "our", "current", "core", "processing", "service", ",", "lending", "products", ",", "marketing", "services", ",", "and", "our", "newest", "addition", "of", "teller", "solutions", ".", "We", "'", "re", "pleased", "to", "welcome", "the", "customers", "of", "PTC", "to", "the", "PBIZ", "family", "and", "will", "continue", "to", "provide", "the", "high", "level", "of", "service", "they", "have", "received", "from", "PTC", "\"", ".", "Kjell", "Purnell", ",", "the", "current", "President", "and", "Chief", "Executive", "Officer", "of", "PTC", ",", "said", ",", "\"", "I", "'", "m", "looking", "forward", "to", "joining", "PBIZ", "and", "working", "with", "the", "management", "team", "to", "grow", "the", "combined", "Company", "'s", "revenue", ".", "The", "complementary", "relationship", "between", "the", "existing", "PBIZ", "product", "line", "and", "WinTELLER", "will", "provide", "immediate", "benefit", "to", "our", "existing", "as", "well", "as", "future", "customers", "\"", ".", "About", "PTC", "PTC", "Banking", "Systems", ",", "Inc", ".", "(", "PTC", ")", "is", "a", "leading", "developer", "of", "branch", "automation", "products", "for", "the", "commercial", "and", "community", "banking", "industry", ".", "For", "over", "30", "years", ",", "banks", "have", "selected", "PTC", "software", ",", "such", "as", "WinTELLER", "®", ",", "WinGUARD", "®", "and", "CaptureFIRST", "to", "positively", "impact", "their", "branch", "operations", "and", "help", "them", "better", "manage", "customer", "relationships", ".", "With", "a", "history", "of", "customer", "relationships", "built", "upon", "trust", "and", "the", "importance", "of", "customer", "service", ",", "PTC", "is", "a", "great", "mechanism", "for", "delivering", "branch", "automation", "needs", "to", "financial", "institutions", ".", "About", "PBIZ", "Private", "Business", ",", "Inc", ".", "(", "PBIZ", ")", "offers", "a", "fully", "-", "featured", "strategic", "product", "suite", "that", "provides", "core", "data", "processing", ",", "along", "with", "accounts", "receivable", "financing", ",", "Internet", "banking", ",", "cash", "management", ",", "CRM", "/", "business", "intelligence", ",", "financial", "accounting", "tools", ",", "Check", "21", "compliance", ",", "electronic", "image", "/", "item", "processing", ",", "and", "online", "debt", "collections", ".", "PBIZ", "believes", "its", "full", "suite", "of", "products", "and", "services", "will", "allow", "financial", "institutions", "and", "their", "small", "-", "to", "-", "medium", "sized", "business", "customers", "to", "better", "compete", "in", "today", "'s", "aggressive", "financial", "services", "marketplace", ",", "and", "grow", "their", "trusted", "financial", "relationships", ",", "while", "providing", "increased", "profitability", "through", "the", "efficient", "use", "of", "technology", "and", "an", "expanded", "community", "presence", ".", "-", "MORE", "-", "PBIZ", "Acquires", "PTC", "Banking", "Systems", "Page", "2", "January", "18", ",", "2006", "For", "more", "information", "about", "PBIZ", ",", "or", "its", "line", "of", "products", "for", "financial", "institutions", ",", "please", "visit", "us", "on", "the", "web", "at", "www.pbizinc.com", "or", "contact", "marketing", "via", "email", "at", "[email protected]", "or", "call", ",", "800", "-", "235", "-", "5584", ".", "Safe", "Harbor", "Statement", "Certain", "statements", "made", "in", "this", "press", "release", "may", "constitute", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "Such", "forward", "-", "looking", "statements", "are", "based", "on", "management", "'s", "current", "expectations", "and", "include", "known", "and", "unknown", "risks", ",", "uncertainties", "and", "other", "factors", ",", "many", "of", "which", "the", "company", "is", "unable", "to", "predict", "or", "control", ",", "that", "may", "cause", "the", "company", "'s", "actual", "results", "or", "performance", "to", "materially", "differ", "from", "any", "future", "results", "or", "performance", "expressed", "or", "implied", "by", "such", "forward", "-", "looking", "statements", ".", "These", "statements", "involve", "risks", "and", "uncertainties", ",", "including", ",", "without", "limitation", ",", "risks", "and", "uncertainties", "associated", "with", "the", "company", "'s", "ability", "to", "replace", "its", "senior", "credit", "facility", ",", "to", "achieve", "its", "growth", "plans", "and", "to", "identify", ",", "complete", ",", "or", "integrate", "acquisitions", ".", "These", "risks", "and", "uncertainties", "are", "in", "addition", "to", "other", "factors", "detailed", "from", "time", "to", "time", "in", "the", "company", "'s", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", ".", "The", "company", "cautions", "investors", "that", "any", "forward", "-", "looking", "statements", "made", "by", "the", "company", "are", "not", "necessarily", "indicative", "of", "future", "performance", ".", "The", "company", "is", "not", "responsible", "for", "updating", "the", "information", "contained", "in", "this", "press", "release", "beyond", "the", "published", "date", ",", "or", "for", "changes", "made", "to", "this", "document", "by", "wire", "services", "or", "Internet", "services", ".", "-", "END", "-" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1096788-000115752310005832-a6469937ex99_1
EX-99.1 2 a6469937ex99_1.htm EXHIBIT 99.1 Exhibit 99.1 Knology Announces Closing of Sunflower Acquisition WEST POINT, Ga.--(BUSINESS WIRE)--October 15, 2010--Knology, Inc. (Nasdaq: KNOL) today closed its previously-announced acquisition of Sunflower Broadband ("Sunflower"), a provider of video, voice and data services to residential and business customers in Douglas County, Lawrence, Kansas and the surrounding area for $165 million cash. In connection with the acquisition, Knology has entered into a $770 million first lien credit facility with proceeds used to partially fund the acquisition purchase price, refinance the company's existing credit facility, and pay related transaction costs. Knology also used approximately $48 million of cash on hand to partially fund the transaction. The new $770 million credit agreement includes a $50 million revolving credit facility, a $175 million term A loan and a $545 million term B loan. The revolving credit facility is not being used in connection with the acquisition or refinancing. The term A loan bears interest at LIBOR plus 4% and has a term of five years with annual amortization of $8.8 million, $8.8 million, $17.5 million and $26.3 million in 2012, 2013, 2014 and 2015, respectively, with the balance due at maturity. The term B loan bears interest at LIBOR plus 4%, with a LIBOR floor of 1.5%, and has a term of six years with 1% principal amortization annually with the balance due at maturity. "This is an exciting transaction for our company", said Rodger L. Johnson, Chairman and Chief Executive Officer of Knology, Inc. "Sunflower is a very successful, customer-focused business that will expand Knology's footprint and add meaningful scale to our existing operations. We welcome the Sunflower team to Knology and are excited about our future together". M. Todd Holt, Knology's President and Chief Financial Officer, added, "Sunflower has achieved excellent customer penetration and attractive EBITDA and free cash flow results, and this acquisition complements our continued focus on organic growth, including the high ROI edge-out investments. We were able to successfully access the credit markets to fund the transaction and refinance our debt in a manner that allows us significant flexibility to continue to grow our business and extend our maturities. In addition, we used some cash on the balance sheet to partially fund the transaction in order to maintain manageable leverage and a solid free cash flow profile, while at the same time keeping our liquidity position very strong". Credit Suisse and SunTrust Robinson Humphrey acted as Joint Lead Arrangers and Joint Book Runners for the credit facility. SunTrust Robinson Humphrey acted as financial advisor to Knology with the respect to the acquisition of Sunflower and RBC Daniels acted as financial advisor to Sunflower. About Knology Knology Inc., headquartered in West Point, Georgia, is a leading provider of interactive communications and entertainment services in the Southeast and in the upper Midwest and Kansas regions. Knology serves both residential and business customers with one of the most technologically advanced broadband networks in the country. Innovative offerings include over 200 channels of digital cable TV, local and long distance digital telephone service with the latest enhanced voice messaging features, and high-speed Internet access, which enables consumers to quickly download video, audio and graphic files using a cable modem. Knology's fiber-based business products include iPlex, which delivers Ethernet connections to an IP-PBX using Session Initiated Protocol (SIP) technology, Passive Optical Network (PON), which supplies IP architecture with segmented voice and data bandwidth, and Managed Integrated Network Solutions (MATRIX), an integrated IP-based technology which converges data and voice. For more information, please visit www.knology.com . Information about Forward-Looking Statements This press release includes "forward-looking" statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, that are subject to future events, risks and uncertainties that could cause our actual results to differ materially from those expressed or implied. In addition, our revenues and earnings and our ability to achieve our planned business objectives are subject to a number of factors that make estimates of future operating results uncertain, including, without limitation, (1) that we will not retain or grow our customer base, (2) that we will fail to be competitive with existing and new competitors, (3) that we will not adequately respond to technological developments that impact our industry and markets, (4) that needed financing will not be available to us if and as needed, (5) that a significant change in the growth rate of the overall U.S. economy will occur such that there is a material impact on consumer and corporate spending, (6) that we may have difficulties integrating acquired businesses, or that the cost of such integration will be greater than we expect, and (7) that some other unforeseen difficulties occur, as well as those risks set forth in our Annual Report on Form 10-K for the year ended December 31, 2009, and our other filings with the SEC. This list is intended to identify only certain of the principal factors that could cause actual results to differ materially from those described in the forward-looking statements included herein. Investors are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relating to expectations about future results or events are based upon information available to us as of today's date, and we do not assume any obligation to update any of these statements, except as required by law. CONTACT: Knology, Inc. M. Todd Holt President and Chief Financial Officer 706-645-8752 [email protected]
[ "EX", "-", "99", ".", "1", "2", "a6469937ex99", "_", "1", ".", "htm", "EXHIBIT", "99", ".", "1", "Exhibit", "99", ".", "1", "Knology", "Announces", "Closing", "of", "Sunflower", "Acquisition", "WEST", "POINT", ",", "Ga", ".", "--", "(", "BUSINESS", "WIRE", ")", "--", "October", "15", ",", "2010", "--", "Knology", ",", "Inc", ".", "(", "Nasdaq", ":", "KNOL", ")", "today", "closed", "its", "previously", "-", "announced", "acquisition", "of", "Sunflower", "Broadband", "(", "\"", "Sunflower", "\"", ")", ",", "a", "provider", "of", "video", ",", "voice", "and", "data", "services", "to", "residential", "and", "business", "customers", "in", "Douglas", "County", ",", "Lawrence", ",", "Kansas", "and", "the", "surrounding", "area", "for", "$", "165 million", "cash", ".", "In", "connection", "with", "the", "acquisition", ",", "Knology", "has", "entered", "into", "a", "$", "770", "million", "first", "lien", "credit", "facility", "with", "proceeds", "used", "to", "partially", "fund", "the", "acquisition", "purchase", "price", ",", "refinance", "the", "company", "'s", "existing", "credit", "facility", ",", "and", "pay", "related", "transaction", "costs", ".", "Knology", "also", "used", "approximately", "$", "48 million", "of", "cash", "on", "hand", "to", "partially", "fund", "the", "transaction", ".", "The", "new", "$", "770 million", "credit", "agreement", "includes", "a", "$", "50", "million", "revolving", "credit", "facility", ",", "a", "$", "175 million", "term", "A", "loan", "and", "a", "$", "545", "million", "term", "B", "loan", ".", "The", "revolving", "credit", "facility", "is", "not", "being", "used", "in", "connection", "with", "the", "acquisition", "or", "refinancing", ".", "The", "term", "A", "loan", "bears", "interest", "at", "LIBOR", "plus", "4", "%", "and", "has", "a", "term", "of", "five", "years", "with", "annual", "amortization", "of", "$", "8.8 million", ",", "$", "8.8 million", ",", "$", "17.5 million", "and", "$", "26.3", "million", "in", "2012", ",", "2013", ",", "2014", "and", "2015", ",", "respectively", ",", "with", "the", "balance", "due", "at", "maturity", ".", "The", "term", "B", "loan", "bears", "interest", "at", "LIBOR", "plus", "4", "%", ",", "with", "a", "LIBOR", "floor", "of", "1", ".", "5", "%", ",", "and", "has", "a", "term", "of", "six", "years", "with", "1", "%", "principal", "amortization", "annually", "with", "the", "balance", "due", "at", "maturity", ".", "\"", "This", "is", "an", "exciting", "transaction", "for", "our", "company", "\"", ",", "said", "Rodger", "L", ".", "Johnson", ",", "Chairman", "and", "Chief", "Executive", "Officer", "of", "Knology", ",", "Inc", ".", "\"", "Sunflower", "is", "a", "very", "successful", ",", "customer", "-", "focused", "business", "that", "will", "expand", "Knology", "'s", "footprint", "and", "add", "meaningful", "scale", "to", "our", "existing", "operations", ".", "We", "welcome", "the", "Sunflower", "team", "to", "Knology", "and", "are", "excited", "about", "our", "future", "together", "\"", ".", "M", ".", "Todd", "Holt", ",", "Knology", "'s", "President", "and", "Chief", "Financial", "Officer", ",", "added", ",", "\"", "Sunflower", "has", "achieved", "excellent", "customer", "penetration", "and", "attractive", "EBITDA", "and", "free", "cash", "flow", "results", ",", "and", "this", "acquisition", "complements", "our", "continued", "focus", "on", "organic", "growth", ",", "including", "the", "high", "ROI", "edge", "-", "out", "investments", ".", "We", "were", "able", "to", "successfully", "access", "the", "credit", "markets", "to", "fund", "the", "transaction", "and", "refinance", "our", "debt", "in", "a", "manner", "that", "allows", "us", "significant", "flexibility", "to", "continue", "to", "grow", "our", "business", "and", "extend", "our", "maturities", ".", "In", "addition", ",", "we", "used", "some", "cash", "on", "the", "balance", "sheet", "to", "partially", "fund", "the", "transaction", "in", "order", "to", "maintain", "manageable", "leverage", "and", "a", "solid", "free", "cash", "flow", "profile", ",", "while", "at", "the", "same", "time", "keeping", "our", "liquidity", "position", "very", "strong", "\"", ".", "Credit", "Suisse", "and", "SunTrust", "Robinson", "Humphrey", "acted", "as", "Joint", "Lead", "Arrangers", "and", "Joint", "Book", "Runners", "for", "the", "credit", "facility", ".", "SunTrust", "Robinson", "Humphrey", "acted", "as", "financial", "advisor", "to", "Knology", "with", "the", "respect", "to", "the", "acquisition", "of", "Sunflower", "and", "RBC", "Daniels", "acted", "as", "financial", "advisor", "to", "Sunflower", ".", "About", "Knology", "Knology", "Inc", ".", ",", "headquartered", "in", "West", "Point", ",", "Georgia", ",", "is", "a", "leading", "provider", "of", "interactive", "communications", "and", "entertainment", "services", "in", "the", "Southeast", "and", "in", "the", "upper", "Midwest", "and", "Kansas", "regions", ".", "Knology", "serves", "both", "residential", "and", "business", "customers", "with", "one", "of", "the", "most", "technologically", "advanced", "broadband", "networks", "in", "the", "country", ".", "Innovative", "offerings", "include", "over", "200", "channels", "of", "digital", "cable", "TV", ",", "local", "and", "long", "distance", "digital", "telephone", "service", "with", "the", "latest", "enhanced", "voice", "messaging", "features", ",", "and", "high", "-", "speed", "Internet", "access", ",", "which", "enables", "consumers", "to", "quickly", "download", "video", ",", "audio", "and", "graphic", "files", "using", "a", "cable", "modem", ".", "Knology", "'s", "fiber", "-", "based", "business", "products", "include", "iPlex", ",", "which", "delivers", "Ethernet", "connections", "to", "an", "IP", "-", "PBX", "using", "Session", "Initiated", "Protocol", "(", "SIP", ")", "technology", ",", "Passive", "Optical", "Network", "(", "PON", ")", ",", "which", "supplies", "IP", "architecture", "with", "segmented", "voice", "and", "data", "bandwidth", ",", "and", "Managed", "Integrated", "Network", "Solutions", "(", "MATRIX", ")", ",", "an", "integrated", "IP", "-", "based", "technology", "which", "converges", "data", "and", "voice", ".", "For", "more", "information", ",", "please", "visit", "www.knology.com", ".", "Information", "about", "Forward", "-", "Looking", "Statements", "This", "press", "release", "includes", "\"", "forward", "-", "looking", "\"", "statements", "within", "the", "meaning", "of", "the", "federal", "securities", "laws", ",", "including", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ",", "that", "are", "subject", "to", "future", "events", ",", "risks", "and", "uncertainties", "that", "could", "cause", "our", "actual", "results", "to", "differ", "materially", "from", "those", "expressed", "or", "implied", ".", "In", "addition", ",", "our", "revenues", "and", "earnings", "and", "our", "ability", "to", "achieve", "our", "planned", "business", "objectives", "are", "subject", "to", "a", "number", "of", "factors", "that", "make", "estimates", "of", "future", "operating", "results", "uncertain", ",", "including", ",", "without", "limitation", ",", "(", "1", ")", "that", "we", "will", "not", "retain", "or", "grow", "our", "customer", "base", ",", "(", "2", ")", "that", "we", "will", "fail", "to", "be", "competitive", "with", "existing", "and", "new", "competitors", ",", "(", "3", ")", "that", "we", "will", "not", "adequately", "respond", "to", "technological", "developments", "that", "impact", "our", "industry", "and", "markets", ",", "(", "4", ")", "that", "needed", "financing", "will", "not", "be", "available", "to", "us", "if", "and", "as", "needed", ",", "(", "5", ")", "that", "a", "significant", "change", "in", "the", "growth", "rate", "of", "the", "overall", "U", ".", "S", ".", "economy", "will", "occur", "such", "that", "there", "is", "a", "material", "impact", "on", "consumer", "and", "corporate", "spending", ",", "(", "6", ")", "that", "we", "may", "have", "difficulties", "integrating", "acquired", "businesses", ",", "or", "that", "the", "cost", "of", "such", "integration", "will", "be", "greater", "than", "we", "expect", ",", "and", "(", "7", ")", "that", "some", "other", "unforeseen", "difficulties", "occur", ",", "as", "well", "as", "those", "risks", "set", "forth", "in", "our", "Annual", "Report", "on", "Form", "10", "-", "K", "for", "the", "year", "ended", "December", "31", ",", "2009", ",", "and", "our", "other", "filings", "with", "the", "SEC", ".", "This", "list", "is", "intended", "to", "identify", "only", "certain", "of", "the", "principal", "factors", "that", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "described", "in", "the", "forward", "-", "looking", "statements", "included", "herein", ".", "Investors", "are", "cautioned", "not", "to", "place", "undue", "reliance", "on", "these", "forward", "-", "looking", "statements", ".", "Forward", "-", "looking", "statements", "relating", "to", "expectations", "about", "future", "results", "or", "events", "are", "based", "upon", "information", "available", "to", "us", "as", "of", "today", "'s", "date", ",", "and", "we", "do", "not", "assume", "any", "obligation", "to", "update", "any", "of", "these", "statements", ",", "except", "as", "required", "by", "law", ".", "CONTACT", ":", "Knology", ",", "Inc", ".", "M", ".", "Todd", "Holt", "President", "and", "Chief", "Financial", "Officer", "706", "-", "645", "-", "8752", "[email protected]" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1604868-000121390020034511-ea129244ex99-1_growgen
EX-99.1 3 ea129244ex99-1_growgen.htm PRESS RELEASE, DATED NOVEMBER 2, 2020 Exhibit 99.1 GrowGeneration Signs Asset Purchase Agreement to Acquire Nation's Third-Largest Chain of Hydroponic Garden Centers The GrowBiz To Join GrowGen's Portfolio, Expands Company's Footprint in California and Oregon Denver, CO, November 2, 2020 /PRNewswire/ -- GrowGeneration Corp. (NASDAQ: GRWG), ("GrowGen" or the "Company") the nation's largest chain of specialty hydroponic and organic garden centers, today announced the signing of an asset purchase agreement to acquire The GrowBiz, the nation's third-largest chain of hydroponic garden centers, with five stores across California and Oregon. The transaction is expected to close before fiscal year-end 2020. Founded in 2010 by Ross and Ryan Haley, The GrowBiz comes with a team of experienced executives and more than 60 full and part-time employees. Prior to founding The GrowBiz, Ross Haley served as CEO of Hawthorne Gardening Company, a division of Scotts Miracle-Gro, and General Hydroponics, two recognized leaders in the hydroponics industry. Upon close, Ross Haley will become a senior strategic advisor to the Company. The addition of The GrowBiz is expected to generate annual revenues approaching $50M. The acquisition will bring the total number of GrowGen hydroponic garden centers in California to ten and Oregon to two. The new GrowGen locations include Rocklin, Cotati, Santa Cruz and San Luis Obispo, California, and Portland, Oregon. "We are excited to add The GrowBiz to our portfolio before year end, with its impressive leadership and commercial teams", said Darren Lampert, GrowGen's CEO. "We look forward to building on their combined experience and expanding our commercial footprint. The GrowBiz acquisition represents our continued investment in purchasing the "best of breed" hydroponic operations in the U.S. and strengthening our management team with seasoned veterans from our industry". Added Ross Haley, The GrowBiz's CEO, "Hydroponics have been a staple in cannabis cultivation and as states across the country continue to legalize, hydroponics stores are an incredible resource for consumers to learn about different cultivation methods. I've seen first-hand over the years how our stores have helped people diversify their gardens, so they are able to cultivate and produce cannabis - it's empowering. GrowGeneration's continued expansion is a testament that the stigma of cannabis prohibition is diminishing, and cannabis is indeed a legitimate business. I look forward to moving to an advisory position with GrowGeneration as I continue to build out Lbs. Distribution - a licensed cannabis distribution company in California". California and Oregon Market and Projections: ● California accounts for 20% of the nation's legal cannabis sales ● By 2022, California's cannabis market is projected to hit $5B ● Oregon could achieve $1B in recreational and medical cannabis sales in 2020 For more information about GrowGeneration, or to locate its stores, please visit www.growgeneration.com. For more information regarding The GrowBiz transaction, please refer to the 8K. About GrowGeneration Corp.: GrowGen owns and operates specialty retail hydroponic and organic gardening stores. Currently, GrowGen has 31 stores, which include 5 locations in Colorado, 6 locations in California, 2 locations in Nevada, 1 location in Arizona, 1 location in Washington, 6 locations in Michigan, 1 location in Rhode Island, 4 locations in Oklahoma, 1 locations in Oregon, 3 locations in Maine and 1 location in Florida. GrowGen also operates an online superstore for cultivators at growgeneration.com. GrowGen carries and sells thousands of products, including organic nutrients and soils, advanced lighting technology and state of the art hydroponic equipment to be used indoors and outdoors by commercial and home growers. Our mission is to own and operate GrowGeneration branded stores in all the major states in the U.S. and Canada. Management estimates that roughly 1,000 hydroponic stores are in operation in the U.S. By 2025, the global hydroponics system market is estimated to reach approximately $16 billion. Forward Looking Statements: This press release may include predictions, estimates or other information that might be considered forward-looking within the meaning of applicable securities laws. While these forward-looking statements represent our current judgments, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this release. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. When used herein, words such as "look forward", "believe", "continue," "building", or variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by us herein are often discussed in filings we make with the United States Securities and Exchange Commission, available at: www.sec.gov, and on our website, at: www.growgeneration.com. Press Contact: Sara Geisner Trailblaze [email protected] Investor Contact: John Evans GrowGeneration [email protected] Connect: ● Website: www.GrowGeneration.com ● Instagram: growgen ● Facebook: GrowGenerationCorp ● Twitter: @GrowGenCorp Company Inquiries: GrowGeneration Corp. 610-216-0057 [email protected] # # #
[ "EX", "-", "99", ".", "1", "3", "ea129244ex99", "-", "1", "_", "growgen", ".", "htm", "PRESS", "RELEASE", ",", "DATED", "NOVEMBER", "2", ",", "2020", "Exhibit", "99", ".", "1", "GrowGeneration", "Signs", "Asset", "Purchase", "Agreement", "to", "Acquire", "Nation", "'s", "Third", "-", "Largest", "Chain", "of", "Hydroponic", "Garden", "Centers", "The", "GrowBiz", "To", "Join", "GrowGen", "'s", "Portfolio", ",", "Expands", "Company", "'s", "Footprint", "in", "California", "and", "Oregon", "Denver", ",", "CO", ",", "November", "2", ",", "2020", "/", "PRNewswire", "/", "--", "GrowGeneration", "Corp", ".", "(", "NASDAQ", ":", "GRWG", ")", ",", "(", "\"", "GrowGen", "\"", "or", "the", "\"", "Company", "\"", ")", "the", "nation", "'s", "largest", "chain", "of", "specialty", "hydroponic", "and", "organic", "garden", "centers", ",", "today", "announced", "the", "signing", "of", "an", "asset", "purchase", "agreement", "to", "acquire", "The", "GrowBiz", ",", "the", "nation", "'s", "third", "-", "largest", "chain", "of", "hydroponic", "garden", "centers", ",", "with", "five", "stores", "across", "California", "and", "Oregon", ".", "The", "transaction", "is", "expected", "to", "close", "before", "fiscal", "year", "-", "end", "2020", ".", "Founded", "in", "2010", "by", "Ross", "and", "Ryan", "Haley", ",", "The", "GrowBiz", "comes", "with", "a", "team", "of", "experienced", "executives", "and", "more", "than", "60", "full", "and", "part", "-", "time", "employees", ".", "Prior", "to", "founding", "The", "GrowBiz", ",", "Ross", "Haley", "served", "as", "CEO", "of", "Hawthorne", "Gardening", "Company", ",", "a", "division", "of", "Scotts", "Miracle", "-", "Gro", ",", "and", "General", "Hydroponics", ",", "two", "recognized", "leaders", "in", "the", "hydroponics", "industry", ".", "Upon", "close", ",", "Ross", "Haley", "will", "become", "a", "senior", "strategic", "advisor", "to", "the", "Company", ".", "The", "addition", "of", "The", "GrowBiz", "is", "expected", "to", "generate", "annual", "revenues", "approaching", "$", "50M", ".", "The", "acquisition", "will", "bring", "the", "total", "number", "of", "GrowGen", "hydroponic", "garden", "centers", "in", "California", "to", "ten", "and", "Oregon", "to", "two", ".", "The", "new", "GrowGen", "locations", "include", "Rocklin", ",", "Cotati", ",", "Santa", "Cruz", "and", "San", "Luis", "Obispo", ",", "California", ",", "and", "Portland", ",", "Oregon", ".", "\"", "We", "are", "excited", "to", "add", "The", "GrowBiz", "to", "our", "portfolio", "before", "year", "end", ",", "with", "its", "impressive", "leadership", "and", "commercial", "teams", "\"", ",", "said", "Darren", "Lampert", ",", "GrowGen", "'s", "CEO", ".", "\"", "We", "look", "forward", "to", "building", "on", "their", "combined", "experience", "and", "expanding", "our", "commercial", "footprint", ".", "The", "GrowBiz", "acquisition", "represents", "our", "continued", "investment", "in", "purchasing", "the", "\"", "best", "of", "breed", "\"", "hydroponic", "operations", "in", "the", "U", ".", "S", ".", "and", "strengthening", "our", "management", "team", "with", "seasoned", "veterans", "from", "our", "industry", "\"", ".", "Added", "Ross", "Haley", ",", "The", "GrowBiz", "'s", "CEO", ",", "\"", "Hydroponics", "have", "been", "a", "staple", "in", "cannabis", "cultivation", "and", "as", "states", "across", "the", "country", "continue", "to", "legalize", ",", "hydroponics", "stores", "are", "an", "incredible", "resource", "for", "consumers", "to", "learn", "about", "different", "cultivation", "methods", ".", "I", "'", "ve", "seen", "first", "-", "hand", "over", "the", "years", "how", "our", "stores", "have", "helped", "people", "diversify", "their", "gardens", ",", "so", "they", "are", "able", "to", "cultivate", "and", "produce", "cannabis", "-", "it", "'", "s", "empowering", ".", "GrowGeneration", "'s", "continued", "expansion", "is", "a", "testament", "that", "the", "stigma", "of", "cannabis", "prohibition", "is", "diminishing", ",", "and", "cannabis", "is", "indeed", "a", "legitimate", "business", ".", "I", "look", "forward", "to", "moving", "to", "an", "advisory", "position", "with", "GrowGeneration", "as", "I", "continue", "to", "build", "out", "Lbs", ".", "Distribution", "-", "a", "licensed", "cannabis", "distribution", "company", "in", "California", "\"", ".", "California", "and", "Oregon", "Market", "and", "Projections", ":", "●", "California", "accounts", "for", "20", "%", "of", "the", "nation", "'s", "legal", "cannabis", "sales", "●", "By", "2022", ",", "California", "'s", "cannabis", "market", "is", "projected", "to", "hit", "$", "5B", "●", "Oregon", "could", "achieve", "$", "1B", "in", "recreational", "and", "medical", "cannabis", "sales", "in", "2020", "For", "more", "information", "about", "GrowGeneration", ",", "or", "to", "locate", "its", "stores", ",", "please", "visit", "www.growgeneration.com", ".", "For", "more", "information", "regarding", "The", "GrowBiz", "transaction", ",", "please", "refer", "to", "the", "8K", ".", "About", "GrowGeneration", "Corp", ".", ":", "GrowGen", "owns", "and", "operates", "specialty", "retail", "hydroponic", "and", "organic", "gardening", "stores", ".", "Currently", ",", "GrowGen", "has", "31", "stores", ",", "which", "include", "5", "locations", "in", "Colorado", ",", "6", "locations", "in", "California", ",", "2", "locations", "in", "Nevada", ",", "1", "location", "in", "Arizona", ",", "1", "location", "in", "Washington", ",", "6", "locations", "in", "Michigan", ",", "1", "location", "in", "Rhode", "Island", ",", "4", "locations", "in", "Oklahoma", ",", "1", "locations", "in", "Oregon", ",", "3", "locations", "in", "Maine", "and", "1", "location", "in", "Florida", ".", "GrowGen", "also", "operates", "an", "online", "superstore", "for", "cultivators", "at", "growgeneration.com", ".", "GrowGen", "carries", "and", "sells", "thousands", "of", "products", ",", "including", "organic", "nutrients", "and", "soils", ",", "advanced", "lighting", "technology", "and", "state", "of", "the", "art", "hydroponic", "equipment", "to", "be", "used", "indoors", "and", "outdoors", "by", "commercial", "and", "home", "growers", ".", "Our", "mission", "is", "to", "own", "and", "operate", "GrowGeneration", "branded", "stores", "in", "all", "the", "major", "states", "in", "the", "U", ".", "S", ".", "and", "Canada", ".", "Management", "estimates", "that", "roughly", "1,000", "hydroponic", "stores", "are", "in", "operation", "in", "the", "U", ".", "S", ".", "By", "2025", ",", "the", "global", "hydroponics", "system", "market", "is", "estimated", "to", "reach", "approximately", "$", "16 billion", ".", "Forward", "Looking", "Statements", ":", "This", "press", "release", "may", "include", "predictions", ",", "estimates", "or", "other", "information", "that", "might", "be", "considered", "forward", "-", "looking", "within", "the", "meaning", "of", "applicable", "securities", "laws", ".", "While", "these", "forward", "-", "looking", "statements", "represent", "our", "current", "judgments", ",", "they", "are", "subject", "to", "risks", "and", "uncertainties", "that", "could", "cause", "actual", "results", "to", "differ", "materially", ".", "You", "are", "cautioned", "not", "to", "place", "undue", "reliance", "on", "these", "forward", "-", "looking", "statements", ",", "which", "reflect", "our", "opinions", "only", "as", "of", "the", "date", "of", "this", "release", ".", "Please", "keep", "in", "mind", "that", "we", "are", "not", "obligating", "ourselves", "to", "revise", "or", "publicly", "release", "the", "results", "of", "any", "revision", "to", "these", "forward", "-", "looking", "statements", "in", "light", "of", "new", "information", "or", "future", "events", ".", "When", "used", "herein", ",", "words", "such", "as", "\"", "look", "forward", "\"", ",", "\"", "believe", "\"", ",", "\"", "continue", ",", "\"", "\"", "building", "\"", ",", "or", "variations", "of", "such", "words", "and", "similar", "expressions", "are", "intended", "to", "identify", "forward", "-", "looking", "statements", ".", "Factors", "that", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "contemplated", "in", "any", "forward", "-", "looking", "statements", "made", "by", "us", "herein", "are", "often", "discussed", "in", "filings", "we", "make", "with", "the", "United", "States", "Securities", "and", "Exchange", "Commission", ",", "available", "at", ":", "www.sec.gov", ",", "and", "on", "our", "website", ",", "at", ":", "www.growgeneration.com", ".", "Press", "Contact", ":", "Sara", "Geisner", "Trailblaze", "[email protected]", "Investor", "Contact", ":", "John", "Evans", "GrowGeneration", "[email protected]", "Connect", ":", "●", "Website", ":", "www.GrowGeneration.com", "●", "Instagram", ":", "growgen", "●", "Facebook", ":", "GrowGenerationCorp", "●", "Twitter", ":", "@", "GrowGenCorp", "Company", "Inquiries", ":", "GrowGeneration", "Corp", ".", "610", "-", "216", "-", "0057", "[email protected]", "#", "#", "#" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1501697-000119312519073465-d702482dex991
EX-99.1 22 d702482dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 X4 Pharmaceuticals Completes Merger with Arsanis - Newly Nasdaq-listed XFOR focused on the development of novel therapeutics for the treatment of rare diseases - Cambridge, MA - March 13, 2019 - X4 Pharmaceuticals, Inc. (Nasdaq: XFOR, as of March 14, 2019), a clinical-stage biopharmaceutical company focused on the development of novel therapeutics for the treatment of rare diseases, today announced the completion of its merger with Arsanis, Inc. (Nasdaq: ASNS, through March 13, 2019), effective as of March 13, 2019. "We are very pleased to complete this transformative event that enables us to achieve the next level of corporate growth as we seek to usher in a new generation of therapies for patients with rare genetic diseases and rare cancers. The merger enables us to accelerate our lead program with X4P-001 in WHIM syndrome towards Phase 3 as we evolve into a pre-commercial global corporation", said Paula Ragan, Ph.D., President and Chief Executive Officer of X4 Pharmaceuticals. "With the acquisition of synergistic R&D capabilities, X4 intends to establish a globally-recognized Center of Research Excellence to build upon our core science and technology, and to create long-term growth for a sustainable global rare disease business". The holders of shares of X4 capital stock outstanding immediately prior to the merger received 0.5702 shares of Arsanis common stock in exchange for each share of X4 capital stock in the merger. On March 13, 2019, Arsanis is effecting a six-for-one reverse stock split. As a result of the reverse stock split, every six shares of Arsanis common stock outstanding following the merger, including the shares issued to the holders of shares of X4 capital stock in the merger, will be combined and reclassified into one share of Arsanis common stock. No fractional shares will be issued in connection with the reverse stock split. Instead, cash, based on the average closing price per share of Arsanis common stock on the Nasdaq Global Market on the 10 consecutive trading days prior to March 13, 2019, will be paid in lieu of fractions of shares. Following the merger and the reverse stock split, the combined organization is expected to have approximately 6.7 million shares outstanding. In connection with the merger, Arsanis will change its name to X4 Pharmaceuticals, Inc. The combined organization will commence trading on March 14, 2019 on the Nasdaq Capital Market under the symbol "XFOR". The combined organization will operate under the leadership of X4's management team prior to the merger, including Paula Ragan, Ph.D., President and Chief Executive Officer, and Adam S. Mostafa, Chief Financial Officer. The board of directors of the combined organization is comprised of six directors: four directors from the former X4 board, Michael S. Wyzga, Isaac Blech, Gary J. Bridger, Ph.D. and Dr. Ragan, and two directors from the former Arsanis board, David McGirr and René Russo, Pharm.D., BCPS. Mr. Wyzga is the new chairman of the board. The corporate headquarters of the combined organization is located in Cambridge, Massachusetts. About WHIM Syndrome WHIM syndrome is a primary immunodeficiency disease caused by genetic mutations in the CXCR4 receptor gene resulting in susceptibility to certain types of infections. WHIM is an abbreviation for the characteristic clinical symptoms of the syndrome: Warts, Hypogammaglobulinemia, Infections, and Myelokathexis. There is no approved therapy for the treatment of WHIM syndrome. About X4 Pharmaceuticals X4 Pharmaceuticals is developing novel therapeutics designed to improve immune cell trafficking to treat rare diseases, including primary immunodeficiencies and cancer. X4's oral small molecule drug candidates antagonize the CXCR4 pathway, which plays a central role in immune surveillance. X4's most advanced product candidate, X4P-001, is in a Phase 2 clinical trial in patients with WHIM syndrome, a rare genetic, primary immunodeficiency disease, and is currently also under investigation in multiple clinical trials in oncology. X4 expects to begin a Phase 3 trial of X4P-001 in WHIM syndrome in the first half of 2019. X4 was founded and is led by a team with deep product development and commercialization expertise, including several former members of the Genzyme leadership team, and is located in Cambridge, Massachusetts. For more information, visit www.x4pharma.com . Forward-Looking Statements This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statement of historical facts, included in this press release regarding our strategy, future operations, and plans are forward-looking statements. Examples of such statements include, but are not limited to, statements relating to the development, potential benefits and uses of and markets for X4's product candidates, including X4P-001 and anticipated clinical trials, including timing and potential results, the potential benefits of the merger, our evolution into a pre-commercial global corporation, and our intention to establish a Center of Research Excellence and its potential benefits. Actual results or events could differ materially from the plans, intentions, expectations and projections disclosed in the forward-looking statements. Various important factors could cause actual results or events to differ materially from the forward-looking statements that X4 makes, including, but not limited to, the risk that trials and studies may be delayed and may not have satisfactory outcomes, potential adverse effects arising from the testing or use of X4P-001 or other product candidates, the risk that costs required to develop X4P-001 or other product candidates or to expand our operations will be higher than anticipated and other risks described in the "Risk Factors" section of the Registration Statement on Form S-4 filed by Arsanis with the SEC and declared effective by the SEC on February 14, 2019. X4 does not assume any obligation to update any forward-looking statements, except as required by law. Investor Contact: Media Contact: Stephanie Carrington Darcie Robinson Westwicke, an ICR company Westwicke, an ICR company 646-277-1282 203-919-7905 [email protected] [email protected]
[ "EX", "-", "99", ".", "1", "22", "d702482dex991", ".", "htm", "EX", "-", "99", ".", "1", "EX", "-", "99", ".", "1", "Exhibit", "99", ".", "1", "X4", "Pharmaceuticals", "Completes", "Merger", "with", "Arsanis", "-", "Newly", "Nasdaq", "-", "listed", "XFOR", "focused", "on", "the", "development", "of", "novel", "therapeutics", "for", "the", "treatment", "of", "rare", "diseases", "-", "Cambridge", ",", "MA", "-", "March", "13", ",", "2019", "-", "X4", "Pharmaceuticals", ",", "Inc", ".", "(", "Nasdaq", ":", "XFOR", ",", "as", "of", "March", "14", ",", "2019", ")", ",", "a", "clinical", "-", "stage", "biopharmaceutical", "company", "focused", "on", "the", "development", "of", "novel", "therapeutics", "for", "the", "treatment", "of", "rare", "diseases", ",", "today", "announced", "the", "completion", "of", "its", "merger", "with", "Arsanis", ",", "Inc", ".", "(", "Nasdaq", ":", "ASNS", ",", "through", "March", "13", ",", "2019", ")", ",", "effective", "as", "of", "March", "13", ",", "2019", ".", "\"", "We", "are", "very", "pleased", "to", "complete", "this", "transformative", "event", "that", "enables", "us", "to", "achieve", "the", "next", "level", "of", "corporate", "growth", "as", "we", "seek", "to", "usher", "in", "a", "new", "generation", "of", "therapies", "for", "patients", "with", "rare", "genetic", "diseases", "and", "rare", "cancers", ".", "The", "merger", "enables", "us", "to", "accelerate", "our", "lead", "program", "with", "X4P", "-", "001", "in", "WHIM", "syndrome", "towards", "Phase", "3", "as", "we", "evolve", "into", "a", "pre", "-", "commercial", "global", "corporation", "\"", ",", "said", "Paula", "Ragan", ",", "Ph", ".", "D", ".", ",", "President", "and", "Chief", "Executive", "Officer", "of", "X4", "Pharmaceuticals", ".", "\"", "With", "the", "acquisition", "of", "synergistic", "R", "&", "D", "capabilities", ",", "X4", "intends", "to", "establish", "a", "globally", "-", "recognized", "Center", "of", "Research", "Excellence", "to", "build", "upon", "our", "core", "science", "and", "technology", ",", "and", "to", "create", "long", "-", "term", "growth", "for", "a", "sustainable", "global", "rare", "disease", "business", "\"", ".", "The", "holders", "of", "shares", "of", "X4", "capital", "stock", "outstanding", "immediately", "prior", "to", "the", "merger", "received", "0", ".", "5702", "shares", "of", "Arsanis", "common", "stock", "in", "exchange", "for", "each", "share", "of", "X4", "capital", "stock", "in", "the", "merger", ".", "On", "March", "13", ",", "2019", ",", "Arsanis", "is", "effecting", "a", "six", "-", "for", "-", "one", "reverse", "stock", "split", ".", "As", "a", "result", "of", "the", "reverse", "stock", "split", ",", "every", "six", "shares", "of", "Arsanis", "common", "stock", "outstanding", "following", "the", "merger", ",", "including", "the", "shares", "issued", "to", "the", "holders", "of", "shares", "of", "X4", "capital", "stock", "in", "the", "merger", ",", "will", "be", "combined", "and", "reclassified", "into", "one", "share", "of", "Arsanis", "common", "stock", ".", "No", "fractional", "shares", "will", "be", "issued", "in", "connection", "with", "the", "reverse", "stock", "split", ".", "Instead", ",", "cash", ",", "based", "on", "the", "average", "closing", "price", "per", "share", "of", "Arsanis", "common", "stock", "on", "the", "Nasdaq", "Global", "Market", "on", "the", "10", "consecutive", "trading", "days", "prior", "to", "March", "13", ",", "2019", ",", "will", "be", "paid", "in", "lieu", "of", "fractions", "of", "shares", ".", "Following", "the", "merger", "and", "the", "reverse", "stock", "split", ",", "the", "combined", "organization", "is", "expected", "to", "have", "approximately", "6", ".", "7", "million", "shares", "outstanding", ".", "In", "connection", "with", "the", "merger", ",", "Arsanis", "will", "change", "its", "name", "to", "X4", "Pharmaceuticals", ",", "Inc", ".", "The", "combined", "organization", "will", "commence", "trading", "on", "March", "14", ",", "2019", "on", "the", "Nasdaq", "Capital", "Market", "under", "the", "symbol", "\"", "XFOR", "\"", ".", "The", "combined", "organization", "will", "operate", "under", "the", "leadership", "of", "X4", "'s", "management", "team", "prior", "to", "the", "merger", ",", "including", "Paula", "Ragan", ",", "Ph", ".", "D", ".", ",", "President", "and", "Chief", "Executive", "Officer", ",", "and", "Adam", "S", ".", "Mostafa", ",", "Chief", "Financial", "Officer", ".", "The", "board", "of", "directors", "of", "the", "combined", "organization", "is", "comprised", "of", "six", "directors", ":", "four", "directors", "from", "the", "former", "X4", "board", ",", "Michael", "S", ".", "Wyzga", ",", "Isaac", "Blech", ",", "Gary", "J", ".", "Bridger", ",", "Ph", ".", "D", ".", "and", "Dr", ".", "Ragan", ",", "and", "two", "directors", "from", "the", "former", "Arsanis", "board", ",", "David", "McGirr", "and", "René", "Russo", ",", "Pharm", ".", "D", ".", ",", "BCPS", ".", "Mr", ".", "Wyzga", "is", "the", "new", "chairman", "of", "the", "board", ".", "The", "corporate", "headquarters", "of", "the", "combined", "organization", "is", "located", "in", "Cambridge", ",", "Massachusetts", ".", "About", "WHIM", "Syndrome", "WHIM", "syndrome", "is", "a", "primary", "immunodeficiency", "disease", "caused", "by", "genetic", "mutations", "in", "the", "CXCR4", "receptor", "gene", "resulting", "in", "susceptibility", "to", "certain", "types", "of", "infections", ".", "WHIM", "is", "an", "abbreviation", "for", "the", "characteristic", "clinical", "symptoms", "of", "the", "syndrome", ":", "Warts", ",", "Hypogammaglobulinemia", ",", "Infections", ",", "and", "Myelokathexis", ".", "There", "is", "no", "approved", "therapy", "for", "the", "treatment", "of", "WHIM", "syndrome", ".", "About", "X4", "Pharmaceuticals", "X4", "Pharmaceuticals", "is", "developing", "novel", "therapeutics", "designed", "to", "improve", "immune", "cell", "trafficking", "to", "treat", "rare", "diseases", ",", "including", "primary", "immunodeficiencies", "and", "cancer", ".", "X4", "'s", "oral", "small", "molecule", "drug", "candidates", "antagonize", "the", "CXCR4", "pathway", ",", "which", "plays", "a", "central", "role", "in", "immune", "surveillance", ".", "X4", "'s", "most", "advanced", "product", "candidate", ",", "X4P", "-", "001", ",", "is", "in", "a", "Phase", "2", "clinical", "trial", "in", "patients", "with", "WHIM", "syndrome", ",", "a", "rare", "genetic", ",", "primary", "immunodeficiency", "disease", ",", "and", "is", "currently", "also", "under", "investigation", "in", "multiple", "clinical", "trials", "in", "oncology", ".", "X4", "expects", "to", "begin", "a", "Phase", "3", "trial", "of", "X4P", "-", "001", "in", "WHIM", "syndrome", "in", "the", "first", "half", "of", "2019", ".", "X4", "was", "founded", "and", "is", "led", "by", "a", "team", "with", "deep", "product", "development", "and", "commercialization", "expertise", ",", "including", "several", "former", "members", "of", "the", "Genzyme", "leadership", "team", ",", "and", "is", "located", "in", "Cambridge", ",", "Massachusetts", ".", "For", "more", "information", ",", "visit", "www.x4pharma.com", ".", "Forward", "-", "Looking", "Statements", "This", "press", "release", "contains", "forward", "-", "looking", "statements", "that", "involve", "substantial", "risks", "and", "uncertainties", ".", "All", "statements", ",", "other", "than", "statement", "of", "historical", "facts", ",", "included", "in", "this", "press", "release", "regarding", "our", "strategy", ",", "future", "operations", ",", "and", "plans", "are", "forward", "-", "looking", "statements", ".", "Examples", "of", "such", "statements", "include", ",", "but", "are", "not", "limited", "to", ",", "statements", "relating", "to", "the", "development", ",", "potential", "benefits", "and", "uses", "of", "and", "markets", "for", "X4", "'s", "product", "candidates", ",", "including", "X4P", "-", "001", "and", "anticipated", "clinical", "trials", ",", "including", "timing", "and", "potential", "results", ",", "the", "potential", "benefits", "of", "the", "merger", ",", "our", "evolution", "into", "a", "pre", "-", "commercial", "global", "corporation", ",", "and", "our", "intention", "to", "establish", "a", "Center", "of", "Research", "Excellence", "and", "its", "potential", "benefits", ".", "Actual", "results", "or", "events", "could", "differ", "materially", "from", "the", "plans", ",", "intentions", ",", "expectations", "and", "projections", "disclosed", "in", "the", "forward", "-", "looking", "statements", ".", "Various", "important", "factors", "could", "cause", "actual", "results", "or", "events", "to", "differ", "materially", "from", "the", "forward", "-", "looking", "statements", "that", "X4", "makes", ",", "including", ",", "but", "not", "limited", "to", ",", "the", "risk", "that", "trials", "and", "studies", "may", "be", "delayed", "and", "may", "not", "have", "satisfactory", "outcomes", ",", "potential", "adverse", "effects", "arising", "from", "the", "testing", "or", "use", "of", "X4P", "-", "001", "or", "other", "product", "candidates", ",", "the", "risk", "that", "costs", "required", "to", "develop", "X4P", "-", "001", "or", "other", "product", "candidates", "or", "to", "expand", "our", "operations", "will", "be", "higher", "than", "anticipated", "and", "other", "risks", "described", "in", "the", "\"", "Risk", "Factors", "\"", "section", "of", "the", "Registration", "Statement", "on", "Form", "S", "-", "4", "filed", "by", "Arsanis", "with", "the", "SEC", "and", "declared", "effective", "by", "the", "SEC", "on", "February", "14", ",", "2019", ".", "X4", "does", "not", "assume", "any", "obligation", "to", "update", "any", "forward", "-", "looking", "statements", ",", "except", "as", "required", "by", "law", ".", "Investor", "Contact", ":", "Media", "Contact", ":", "Stephanie", "Carrington", "Darcie", "Robinson", "Westwicke", ",", "an", "ICR", "company", "Westwicke", ",", "an", "ICR", "company", "646", "-", "277", "-", "1282", "203", "-", "919", "-", "7905", "[email protected]", "[email protected]" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1866633-000119312521294817-d141499dex991
EX-99.1 14 d141499dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Consensus Cloud Solutions, Inc. Completes Separation from Ziff Davis, Inc. Los Angeles, CA--7am ET, October 8, 2021-Consensus Cloud Solutions, Inc. ("Consensus"), a leading provider of secure information-delivery services, announced today that it has completed its previously announced separation into an independent, publicly traded company from Ziff Davis, Inc. ("Ziff Davis") (formerly known as J2 Global, Inc.) (Nasdaq: ZD). Consensus common stock will begin regular-way trading today on the Nasdaq under the ticker symbol "CCSI." Ziff Davis common stock will begin regular-way trading today on the Nasdaq under the ticker symbol "ZD". "Alongside my colleagues at Consensus, I am excited to begin our journey as a standalone public company", said Scott Turicchi, CEO of Consensus. "The Consensus team's hard work has put us in a leadership position as we offer secure data exchange solutions to the healthcare industry and foster interoperability among disparate systems and data protocols. I look forward to our continued success in delivering long-term growth and value to shareholders as an independent company". The separation was achieved through a pro rata distribution to Ziff Davis stockholders of 80.1% of the outstanding shares of Consensus on October 7, 2021. The special dividend distribution gave Ziff Davis stockholders one share of Consensus common stock for every three shares of Ziff Davis common stock outstanding as of the close of business on October 1, 2021, the record date for the distribution. No fractional shares of Consensus were issued and stockholders received cash in lieu of fractional shares. About Consensus Consensus Cloud Solutions, Inc. (Nasdaq: CCSI) is a leading provider of secure information-delivery services with a scalable Software-as-a-Service ("SaaS") platform. Consensus offers eFax, Consensus Unite, Consensus Signal, jSign and has Consensus Clarity and Harmony in development. For more information about Consensus, visit www.consensus.com . "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 Certain statements in this Press Release are "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995 with respect to the proposed spin-off transaction. These forward-looking statements are subject to numerous assumptions, risks and uncertainties, including market and other conditions and include uncertainties regarding expected operating performance and financial position of the companies after the separation, the costs and expected benefits of the proposed transaction, and the expected tax treatment of the transaction. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including those factors described in the "Risk Factors" section of the preliminary information statement included in the Registration Statement on Form 10 filed by Consensus with the SEC. Consensus assumes no obligation to update these forward-looking statements. Bevey Miner Consensus Cloud Solutions, Inc. [email protected] Source: Consensus Cloud Solutions, Inc.
[ "EX", "-", "99", ".", "1", "14", "d141499dex991", ".", "htm", "EX", "-", "99", ".", "1", "EX", "-", "99", ".", "1", "Exhibit", "99", ".", "1", "Consensus", "Cloud", "Solutions", ",", "Inc", ".", "Completes", "Separation", "from", "Ziff", "Davis", ",", "Inc", ".", "Los", "Angeles", ",", "CA", "--", "7", "am", "ET", ",", "October", "8", ",", "2021", "-", "Consensus", "Cloud", "Solutions", ",", "Inc", ".", "(", "\"", "Consensus", "\"", ")", ",", "a", "leading", "provider", "of", "secure", "information", "-", "delivery", "services", ",", "announced", "today", "that", "it", "has", "completed", "its", "previously", "announced", "separation", "into", "an", "independent", ",", "publicly", "traded", "company", "from", "Ziff", "Davis", ",", "Inc", ".", "(", "\"", "Ziff", "Davis", "\"", ")", "(", "formerly", "known", "as", "J2", "Global", ",", "Inc", ".", ")", "(", "Nasdaq", ":", "ZD", ")", ".", "Consensus", "common", "stock", "will", "begin", "regular", "-", "way", "trading", "today", "on", "the", "Nasdaq", "under", "the", "ticker", "symbol", "\"", "CCSI", ".", "\"", "Ziff", "Davis", "common", "stock", "will", "begin", "regular", "-", "way", "trading", "today", "on", "the", "Nasdaq", "under", "the", "ticker", "symbol", "\"", "ZD", "\"", ".", "\"", "Alongside", "my", "colleagues", "at", "Consensus", ",", "I", "am", "excited", "to", "begin", "our", "journey", "as", "a", "standalone", "public", "company", "\"", ",", "said", "Scott", "Turicchi", ",", "CEO", "of", "Consensus", ".", "\"", "The", "Consensus", "team", "'s", "hard", "work", "has", "put", "us", "in", "a", "leadership", "position", "as", "we", "offer", "secure", "data", "exchange", "solutions", "to", "the", "healthcare", "industry", "and", "foster", "interoperability", "among", "disparate", "systems", "and", "data", "protocols", ".", "I", "look", "forward", "to", "our", "continued", "success", "in", "delivering", "long", "-", "term", "growth", "and", "value", "to", "shareholders", "as", "an", "independent", "company", "\"", ".", "The", "separation", "was", "achieved", "through", "a", "pro", "rata", "distribution", "to", "Ziff", "Davis", "stockholders", "of", "80", ".", "1", "%", "of", "the", "outstanding", "shares", "of", "Consensus", "on", "October", "7", ",", "2021", ".", "The", "special", "dividend", "distribution", "gave", "Ziff", "Davis", "stockholders", "one", "share", "of", "Consensus", "common", "stock", "for", "every", "three", "shares", "of", "Ziff", "Davis", "common", "stock", "outstanding", "as", "of", "the", "close", "of", "business", "on", "October", "1", ",", "2021", ",", "the", "record", "date", "for", "the", "distribution", ".", "No", "fractional", "shares", "of", "Consensus", "were", "issued", "and", "stockholders", "received", "cash", "in", "lieu", "of", "fractional", "shares", ".", "About", "Consensus", "Consensus", "Cloud", "Solutions", ",", "Inc", ".", "(", "Nasdaq", ":", "CCSI", ")", "is", "a", "leading", "provider", "of", "secure", "information", "-", "delivery", "services", "with", "a", "scalable", "Software", "-", "as", "-", "a", "-", "Service", "(", "\"", "SaaS", "\"", ")", "platform", ".", "Consensus", "offers", "eFax", ",", "Consensus", "Unite", ",", "Consensus", "Signal", ",", "jSign", "and", "has", "Consensus", "Clarity", "and", "Harmony", "in", "development", ".", "For", "more", "information", "about", "Consensus", ",", "visit", "www.consensus.com", ".", "\"", "Safe", "Harbor", "\"", "Statement", "Under", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", "Certain", "statements", "in", "this", "Press", "Release", "are", "\"", "forward", "-", "looking", "statements", "\"", "within", "the", "meaning", "of", "The", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", "with", "respect", "to", "the", "proposed", "spin", "-", "off", "transaction", ".", "These", "forward", "-", "looking", "statements", "are", "subject", "to", "numerous", "assumptions", ",", "risks", "and", "uncertainties", ",", "including", "market", "and", "other", "conditions", "and", "include", "uncertainties", "regarding", "expected", "operating", "performance", "and", "financial", "position", "of", "the", "companies", "after", "the", "separation", ",", "the", "costs", "and", "expected", "benefits", "of", "the", "proposed", "transaction", ",", "and", "the", "expected", "tax", "treatment", "of", "the", "transaction", ".", "There", "are", "important", "factors", "that", "could", "cause", "our", "actual", "results", ",", "level", "of", "activity", ",", "performance", "or", "achievements", "to", "differ", "materially", "from", "the", "results", ",", "level", "of", "activity", ",", "performance", "or", "achievements", "expressed", "or", "implied", "by", "the", "forward", "-", "looking", "statements", ",", "including", "those", "factors", "described", "in", "the", "\"", "Risk", "Factors", "\"", "section", "of", "the", "preliminary", "information", "statement", "included", "in", "the", "Registration", "Statement", "on", "Form", "10", "filed", "by", "Consensus", "with", "the", "SEC", ".", "Consensus", "assumes", "no", "obligation", "to", "update", "these", "forward", "-", "looking", "statements", ".", "Bevey", "Miner", "Consensus", "Cloud", "Solutions", ",", "Inc", ".", "[email protected]", "Source", ":", "Consensus", "Cloud", "Solutions", ",", "Inc", "." ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
103379-000095010320024821-dp143166_ex9901
EX-99.1 2 dp143166_ex9901.htm EXHIBIT 99.1 Exhibit 99.1 VF CORPORATION COMPLETES ACQUISITION OF SUPREME® DENVER, Colo., December 28, 2020 - VF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, footwear and accessories, today announced that it has completed its previously announced acquisition of Supreme ® , a privately-owned global streetwear brand, for an aggregate base purchase price of $2.1 billion subject to customary adjustments for cash, indebtedness, working capital and transaction expenses. As a result of the transaction, Supreme ® has become a wholly owned subsidiary of VF Corporation. The acquisition of the Supreme ® brand accelerates VF's consumer-minded, retail-centric, hyper-digital business model transformation and builds on a long-standing relationship between Supreme ® and VF, with the Supreme ® brand being a regular collaborator with VF's Vans ® , The North Face ® and Timberland ® brands. Supreme ® is expected to be modestly accretive to VF's revenue and adjusted earnings per share in fiscal 2021. The Supreme ® brand is expected to contribute at least $500 million of revenue and $0.20 of adjusted EPS in fiscal 2022. Forward-looking Statements Certain statements included in this release are "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting VF and therefore involve several risks and uncertainties. You can identify these statements by the fact that they use words such as "will", "anticipate", "estimate", "expect," "should", and "may" and other words and terms of similar meaning or use of future dates, however, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements regarding VF's plans, objectives, projections and expectations relating to VF's operations or financial performance, and assumptions related thereto are forward-looking statements. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. VF undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Potential risks and uncertainties that could cause the actual results of operations or financial condition of VF to differ materially from those expressed or implied by forward-looking statements include, but are not limited to: risks arising from the widespread outbreak of an illness or any other communicable disease, or any other public health crisis, including the coronavirus (COVID-19) global pandemic; the level of consumer demand for apparel, footwear and accessories; disruption to VF's distribution system; the financial strength of VF's customers; fluctuations in the price, availability and quality of raw materials and contracted products; disruption and volatility in the global capital and credit markets; VF's response to changing fashion trends, evolving consumer preferences and changing patterns of consumer behavior; intense competition from online retailers; manufacturing and product innovation; increasing pressure on margins; VF's ability to implement its business strategy; VF's ability to grow its international and direct-to-consumer businesses; retail industry changes and challenges; VF's and its vendors' ability to maintain the strength and security of information technology systems; the risk that VF's facilities and systems and those of our third-party service providers may be vulnerable to and unable to anticipate or detect data security breaches and data or financial loss; VF's ability to properly collect, use, manage and secure consumer and employee data; foreign currency fluctuations; stability of VF's manufacturing facilities and foreign suppliers; continued use by VF's suppliers of ethical business practices; VF's ability to accurately forecast demand for products; continuity of members of VF's management; VF's ability to protect trademarks and other intellectual property rights; possible goodwill and other asset impairment; maintenance by VF's licensees and distributors of the value of VF's brands; VF's ability to execute and integrate acquisitions; changes in tax laws and liabilities; legal, regulatory, political and economic risks; the risk of economic uncertainty associated with the exit of the United Kingdom from the European Union ("Brexit") or any other similar referendums that may be held; adverse or unexpected weather conditions; VF's indebtedness and its ability to obtain financing on favorable terms, if needed, could prevent VF from fulfilling its financial obligations; climate change and increased focus on sustainability issues; and risks associated with the spin-off of our Jeanswear business completed on May 22, 2019, including the risk that VF will not realize all of the expected benefits of the spin-off; the risk that the spin-off will not be tax-free for U.S. federal income tax purposes; and the risk that there will be a loss of synergies from separating the businesses that could negatively impact the balance sheet, profit margins or earnings of VF. More information on potential factors that could affect VF's financial results is included from time to time in VF's public reports filed with the SEC, including VF's Annual Report on Form 10-K, and Quarterly Reports on Form 10-Q, and Forms 8-K filed or furnished with the SEC. About VF Founded in 1899, VF Corporation is one of the world's largest apparel, footwear and accessories companies connecting people to the lifestyles, activities and experiences they cherish most through a family of iconic outdoor, active and workwear brands including Vans ® , The North Face ® , Timberland ® and Dickies ® . Our purpose is to power movements of sustainable and active lifestyles for the betterment of people and our planet. We connect this purpose with a relentless drive to succeed to create value for all stakeholders and use our company as a force for good. For more information, please visit vfc.com . VF Corporation Contacts Joe Alkire Craig Hodges Vice President, Corporate Development, Vice President, Investor Relations and Treasury Corporate Affairs [email protected] [email protected]
[ "EX", "-", "99", ".", "1", "2", "dp143166", "_", "ex9901", ".", "htm", "EXHIBIT", "99", ".", "1", "Exhibit", "99", ".", "1", "VF", "CORPORATION", "COMPLETES", "ACQUISITION", "OF", "SUPREME", "®", "DENVER", ",", "Colo", ".", ",", "December", "28", ",", "2020", "-", "VF", "Corporation", "(", "NYSE", ":", "VFC", ")", ",", "a", "global", "leader", "in", "branded", "lifestyle", "apparel", ",", "footwear", "and", "accessories", ",", "today", "announced", "that", "it", "has", "completed", "its", "previously", "announced", "acquisition", "of", "Supreme", "®", ",", "a", "privately", "-", "owned", "global", "streetwear", "brand", ",", "for", "an", "aggregate", "base", "purchase", "price", "of", "$", "2.1 billion", "subject", "to", "customary", "adjustments", "for", "cash", ",", "indebtedness", ",", "working", "capital", "and", "transaction", "expenses", ".", "As", "a", "result", "of", "the", "transaction", ",", "Supreme", "®", "has", "become", "a", "wholly", "owned", "subsidiary", "of", "VF", "Corporation", ".", "The", "acquisition", "of", "the", "Supreme", "®", "brand", "accelerates", "VF", "'s", "consumer", "-", "minded", ",", "retail", "-", "centric", ",", "hyper", "-", "digital", "business", "model", "transformation", "and", "builds", "on", "a", "long", "-", "standing", "relationship", "between", "Supreme", "®", "and", "VF", ",", "with", "the", "Supreme", "®", "brand", "being", "a", "regular", "collaborator", "with", "VF", "'s", "Vans", "®", ",", "The", "North", "Face", "®", "and", "Timberland", "®", "brands", ".", "Supreme", "®", "is", "expected", "to", "be", "modestly", "accretive", "to", "VF", "'s", "revenue", "and", "adjusted", "earnings", "per", "share", "in", "fiscal", "2021", ".", "The", "Supreme", "®", "brand", "is", "expected", "to", "contribute", "at", "least", "$", "500 million", "of", "revenue", "and", "$", "0.20", "of", "adjusted", "EPS", "in", "fiscal", "2022", ".", "Forward", "-", "looking", "Statements", "Certain", "statements", "included", "in", "this", "release", "are", "\"", "forward", "-", "looking", "statements", "\"", "within", "the", "meaning", "of", "the", "federal", "securities", "laws", ".", "Forward", "-", "looking", "statements", "are", "made", "based", "on", "our", "expectations", "and", "beliefs", "concerning", "future", "events", "impacting", "VF", "and", "therefore", "involve", "several", "risks", "and", "uncertainties", ".", "You", "can", "identify", "these", "statements", "by", "the", "fact", "that", "they", "use", "words", "such", "as", "\"", "will", "\"", ",", "\"", "anticipate", "\"", ",", "\"", "estimate", "\"", ",", "\"", "expect", ",", "\"", "\"", "should", "\"", ",", "and", "\"", "may", "\"", "and", "other", "words", "and", "terms", "of", "similar", "meaning", "or", "use", "of", "future", "dates", ",", "however", ",", "the", "absence", "of", "these", "words", "or", "similar", "expressions", "does", "not", "mean", "that", "a", "statement", "is", "not", "forward", "-", "looking", ".", "All", "statements", "regarding", "VF", "'s", "plans", ",", "objectives", ",", "projections", "and", "expectations", "relating", "to", "VF", "'s", "operations", "or", "financial", "performance", ",", "and", "assumptions", "related", "thereto", "are", "forward", "-", "looking", "statements", ".", "We", "caution", "that", "forward", "-", "looking", "statements", "are", "not", "guarantees", "and", "that", "actual", "results", "could", "differ", "materially", "from", "those", "expressed", "or", "implied", "in", "the", "forward", "-", "looking", "statements", ".", "VF", "undertakes", "no", "obligation", "to", "publicly", "update", "or", "revise", "any", "forward", "-", "looking", "statements", ",", "whether", "as", "a", "result", "of", "new", "information", ",", "future", "events", "or", "otherwise", ",", "except", "as", "required", "by", "law", ".", "Potential", "risks", "and", "uncertainties", "that", "could", "cause", "the", "actual", "results", "of", "operations", "or", "financial", "condition", "of", "VF", "to", "differ", "materially", "from", "those", "expressed", "or", "implied", "by", "forward", "-", "looking", "statements", "include", ",", "but", "are", "not", "limited", "to", ":", "risks", "arising", "from", "the", "widespread", "outbreak", "of", "an", "illness", "or", "any", "other", "communicable", "disease", ",", "or", "any", "other", "public", "health", "crisis", ",", "including", "the", "coronavirus", "(", "COVID", "-", "19", ")", "global", "pandemic", ";", "the", "level", "of", "consumer", "demand", "for", "apparel", ",", "footwear", "and", "accessories", ";", "disruption", "to", "VF", "'s", "distribution", "system", ";", "the", "financial", "strength", "of", "VF", "'s", "customers", ";", "fluctuations", "in", "the", "price", ",", "availability", "and", "quality", "of", "raw", "materials", "and", "contracted", "products", ";", "disruption", "and", "volatility", "in", "the", "global", "capital", "and", "credit", "markets", ";", "VF", "'s", "response", "to", "changing", "fashion", "trends", ",", "evolving", "consumer", "preferences", "and", "changing", "patterns", "of", "consumer", "behavior", ";", "intense", "competition", "from", "online", "retailers", ";", "manufacturing", "and", "product", "innovation", ";", "increasing", "pressure", "on", "margins", ";", "VF", "'s", "ability", "to", "implement", "its", "business", "strategy", ";", "VF", "'s", "ability", "to", "grow", "its", "international", "and", "direct", "-", "to", "-", "consumer", "businesses", ";", "retail", "industry", "changes", "and", "challenges", ";", "VF", "'s", "and", "its", "vendors", "'", "ability", "to", "maintain", "the", "strength", "and", "security", "of", "information", "technology", "systems", ";", "the", "risk", "that", "VF", "'s", "facilities", "and", "systems", "and", "those", "of", "our", "third", "-", "party", "service", "providers", "may", "be", "vulnerable", "to", "and", "unable", "to", "anticipate", "or", "detect", "data", "security", "breaches", "and", "data", "or", "financial", "loss", ";", "VF", "'s", "ability", "to", "properly", "collect", ",", "use", ",", "manage", "and", "secure", "consumer", "and", "employee", "data", ";", "foreign", "currency", "fluctuations", ";", "stability", "of", "VF", "'s", "manufacturing", "facilities", "and", "foreign", "suppliers", ";", "continued", "use", "by", "VF", "'s", "suppliers", "of", "ethical", "business", "practices", ";", "VF", "'s", "ability", "to", "accurately", "forecast", "demand", "for", "products", ";", "continuity", "of", "members", "of", "VF", "'s", "management", ";", "VF", "'s", "ability", "to", "protect", "trademarks", "and", "other", "intellectual", "property", "rights", ";", "possible", "goodwill", "and", "other", "asset", "impairment", ";", "maintenance", "by", "VF", "'s", "licensees", "and", "distributors", "of", "the", "value", "of", "VF", "'s", "brands", ";", "VF", "'s", "ability", "to", "execute", "and", "integrate", "acquisitions", ";", "changes", "in", "tax", "laws", "and", "liabilities", ";", "legal", ",", "regulatory", ",", "political", "and", "economic", "risks", ";", "the", "risk", "of", "economic", "uncertainty", "associated", "with", "the", "exit", "of", "the", "United", "Kingdom", "from", "the", "European", "Union", "(", "\"", "Brexit", "\"", ")", "or", "any", "other", "similar", "referendums", "that", "may", "be", "held", ";", "adverse", "or", "unexpected", "weather", "conditions", ";", "VF", "'s", "indebtedness", "and", "its", "ability", "to", "obtain", "financing", "on", "favorable", "terms", ",", "if", "needed", ",", "could", "prevent", "VF", "from", "fulfilling", "its", "financial", "obligations", ";", "climate", "change", "and", "increased", "focus", "on", "sustainability", "issues", ";", "and", "risks", "associated", "with", "the", "spin", "-", "off", "of", "our", "Jeanswear", "business", "completed", "on", "May", "22", ",", "2019", ",", "including", "the", "risk", "that", "VF", "will", "not", "realize", "all", "of", "the", "expected", "benefits", "of", "the", "spin", "-", "off", ";", "the", "risk", "that", "the", "spin", "-", "off", "will", "not", "be", "tax", "-", "free", "for", "U", ".", "S", ".", "federal", "income", "tax", "purposes", ";", "and", "the", "risk", "that", "there", "will", "be", "a", "loss", "of", "synergies", "from", "separating", "the", "businesses", "that", "could", "negatively", "impact", "the", "balance", "sheet", ",", "profit", "margins", "or", "earnings", "of", "VF", ".", "More", "information", "on", "potential", "factors", "that", "could", "affect", "VF", "'s", "financial", "results", "is", "included", "from", "time", "to", "time", "in", "VF", "'s", "public", "reports", "filed", "with", "the", "SEC", ",", "including", "VF", "'s", "Annual", "Report", "on", "Form", "10", "-", "K", ",", "and", "Quarterly", "Reports", "on", "Form", "10", "-", "Q", ",", "and", "Forms", "8", "-", "K", "filed", "or", "furnished", "with", "the", "SEC", ".", "About", "VF", "Founded", "in", "1899", ",", "VF", "Corporation", "is", "one", "of", "the", "world", "'s", "largest", "apparel", ",", "footwear", "and", "accessories", "companies", "connecting", "people", "to", "the", "lifestyles", ",", "activities", "and", "experiences", "they", "cherish", "most", "through", "a", "family", "of", "iconic", "outdoor", ",", "active", "and", "workwear", "brands", "including", "Vans", "®", ",", "The", "North", "Face", "®", ",", "Timberland", "®", "and", "Dickies", "®", ".", "Our", "purpose", "is", "to", "power", "movements", "of", "sustainable", "and", "active", "lifestyles", "for", "the", "betterment", "of", "people", "and", "our", "planet", ".", "We", "connect", "this", "purpose", "with", "a", "relentless", "drive", "to", "succeed", "to", "create", "value", "for", "all", "stakeholders", "and", "use", "our", "company", "as", "a", "force", "for", "good", ".", "For", "more", "information", ",", "please", "visit", "vfc.com", ".", "VF", "Corporation", "Contacts", "Joe", "Alkire", "Craig", "Hodges", "Vice", "President", ",", "Corporate", "Development", ",", "Vice", "President", ",", "Investor", "Relations", "and", "Treasury", "Corporate", "Affairs", "[email protected]", "[email protected]" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
807707-000080770711000010-pressrelease
EX-99.1 2 pressrelease.htm pressrelease.htm News Release Audiovox Completes its Acquisition of Audio Leader Klipsch HAUPPAUGE, N.Y., March 2, 2011 /PRNewswire via COMTEX/ -- Audiovox Corporation (Nasdaq: VOXX) announced today that it has completed the acquisition of the global leader in high performance audio solutions, Klipsch Group, Inc. and its worldwide subsidiaries ("Klipsch") for a total purchase price of $166 million, plus related transaction fees and expenses. The acquisition of Klipsch is expected to be immediately accretive to cash flow and earnings per diluted share ("EPS"). Audiovox anticipates this acquisition will generate approximately $170 million in net sales and $25 million in EBITDA in Fiscal 2012 (March 1, 2011 - February 28, 2012). The Company also anticipates that revenue for the combined companies in Fiscal 2012 (March 1, 2011 - February 28, 2012) will be approximately $730 million, with potential upside for growth based on market conditions and continued execution of strategic growth initiatives. Patrick Lavelle, President and CEO of Audiovox Corporation stated, "We are very excited to close this acquisition because it not only adds world-class brands with strong distribution, both domestically and abroad, but it also gives us entre into the high-end installation market at both the residential and commercial level. In addition to #1 market positions in the U.S., Klipsch brands are recognized throughout EMEA, the Americas, and the Asia-Pacific region, and we plan to continue expansion into other key international markets." Lavelle continued, "Klipsch R&D capabilities and its quality reputation are second to none, and we intend for that to continue as we welcome the Klipsch team to Audiovox". Fred Klipsch, Klipsch Group Chairman and CEO, stated, "I too am excited about this acquisition and have no doubt that together we will successfully execute on our growth plans, expand our market positions in both our core areas and new markets, while never losing sight of the brand, the quality and our customers. Klipsch will always be dedicated to providing consumers with the best speaker solutions the industry has to offer, while supporting our worldwide customers at the very highest level. Our team is excited to become part of Audiovox and looks forward to the opportunities ahead". For over 65 years, Klipsch has led the market through innovation, and today, Klipsch is recognized as the #1 speaker company with leading market positions across all of its primary categories. As a result of this transaction, Klipsch has become a wholly owned subsidiary of Audiovox Corporation and will operate as a stand-alone entity, headquartered in Indianapolis and run by its current management team. This transaction was financed through a combination of existing Audiovox cash and a new $175 million asset-based revolving credit facility led by Wells Fargo Capital Finance. The combined assets of Audiovox and Klipsch will secure the borrowings under the facility, which will also be used for general corporate purposes. Wells Fargo Securities, LLC acted as exclusive financial advisor to the Company and Wells Fargo Capital Finance provided the committed debt financing. Houlihan Lokey Howard & Zukin acted as financial advisor to Klipsch and Vantage Point Venture Partners. Barnes & Thornburg LLP served as legal counsel for Klipsch. Duane Morris LLP assisted as legal counsel for Audiovox Corp. 1 CONFERENCE CALL AND WEBCAST INFORMATION: The Company will be hosting its conference call on Tuesday, March 8, 2011 at 10:00 a.m. Eastern. Interested parties can participate by visiting www.audiovox.com, and clicking on the webcast in the Investor Relations section or via teleconference (toll-free number: 866-783-2137; international number: 857-350-1596; pass code: 20569057). For those who will be unable to participate, a replay will be available approximately one hour after the call has been completed and will last for one week thereafter (replay number: 888-286-8010; international replay number: 617-801-6888; pass code: 20721385). Wells Fargo Securities, LLC acted as exclusive financial advisor to the Company and Wells Fargo Capital Finance, LLC provided the committed debt financing. Houlihan Lokey Howard & Zukin acted as financial advisors to the Klipsch Group and Vantage Point Venture Partners. Barnes & Thornburg LLP served as legal counsel for Klipsch Group. Duane Morris LLP and Levy, Stopol and Camelo assisted as legal counsel for Audiovox Corp. About Audiovox Audiovox (NASDAQ: VOXX) is a recognized leader in the marketing of mobile and consumer electronics products and accessories. The Company has a substantial International operation selling products through offices in Europe, Asia, Venezuela and Mexico. In addition, the Company is a supplier of Original Equipment (OE) both domestically and internationally to a significant number of the major vehicle manufacturers in the world. Among the lines marketed by Audiovox are its mobile entertainment products including rear seat entertainment systems, mobile multimedia systems and satellite radio. Vehicle security, remote start and collision avoidance products round out our mobile electronic lines. Our consumer electronics products include digital camcorders, DVRs and Internet radios. We also supply high-end TV remote controls, wireless speakers, headphones, the leading line of HD indoor/outdoor antennas, connectivity products, and personal sound amplifiers. You can find Audiovox products in virtually every distribution channel from the world's largest retailers to car dealers to small independents. The Company owns over twenty global brands and markets its products domestically primarily under Audiovox, RCA, Jensen, Acoustic Research, and Advent. Key European brands include Magnat, Mac Audio, Heco, Schweiger and Oehlbach. For additional information, visit our Web site at www.audiovox.com. About Klipsch Group, Inc. Founded in 1946 by Paul W. Klipsch, one of America's most celebrated audio pioneers, and then acquired by Fred and Judy Klipsch in 1989, Klipsch has long been a high-end name in speaker design. Today, the brand continues its success as a leading global manufacturer of premium speaker solutions for home, personal and commercial use. From massive professional cinema speakers to tiny headphones, Klipsch remains committed to delivering the most powerful, detailed and emotional sound experiences. 2 The products sold by Klipsch include home theater systems, floor standing speakers, bookshelf speakers, center speakers, surround speakers and 5.1 systems, subwoofers, headphones, flat panel speakers, architectural speakers, outdoor speakers, iPod/Computer speakers, cinema speakers, business music systems, accessory products and more. For more information, visit www.klipsch.com. Safe Harbor Statement Except for historical information contained herein, statements made in this release that would constitute forward-looking statements may involve certain risks and uncertainties. All forward-looking statements made in this release are based on currently available information and the Company assumes no responsibility to update any such forward-looking statement. The following factors, among others, may cause actual results to differ materially from the results suggested in the forward-looking statements. The factors include, but are not limited to risks that may result from changes in the Company's business operations; our ability to keep pace with technological advances; significant competition in the mobile and consumer electronics businesses as well as the accessories business; our relationships with key suppliers and customers; quality and consumer acceptance of newly introduced products; market volatility; non-availability of product; excess inventory; price and product competition; new product introductions; the possibility that the review of our prior filings by the SEC may result in changes to our financial statements; and the possibility that stockholders or regulatory authorities may initiate proceedings against Audiovox and/or our officers and directors as a result of any restatements. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company's Form 10-K for the fiscal year ended February 28, 2010. Company Contact: GW Communications Glenn Wiener, President Tel: 212-786-6011 Email: [email protected] SOURCE Audiovox Corporation 3
[ "EX", "-", "99", ".", "1", "2", "pressrelease", ".", "htm", "pressrelease", ".", "htm", "News", "Release", "Audiovox", "Completes", "its", "Acquisition", "of", "Audio", "Leader", "Klipsch", "HAUPPAUGE", ",", "N", ".", "Y", ".", ",", "March", "2", ",", "2011", "/", "PRNewswire", "via", "COMTEX", "/", "--", "Audiovox", "Corporation", "(", "Nasdaq", ":", "VOXX", ")", "announced", "today", "that", "it", "has", "completed", "the", "acquisition", "of", "the", "global", "leader", "in", "high", "performance", "audio", "solutions", ",", "Klipsch", "Group", ",", "Inc", ".", "and", "its", "worldwide", "subsidiaries", "(", "\"", "Klipsch", "\"", ")", "for", "a", "total", "purchase", "price", "of", "$", "166 million", ",", "plus", "related", "transaction", "fees", "and", "expenses", ".", "The", "acquisition", "of", "Klipsch", "is", "expected", "to", "be", "immediately", "accretive", "to", "cash", "flow", "and", "earnings", "per", "diluted", "share", "(", "\"", "EPS", "\"", ")", ".", "Audiovox", "anticipates", "this", "acquisition", "will", "generate", "approximately", "$", "170 million", "in", "net", "sales", "and", "$", "25 million", "in", "EBITDA", "in", "Fiscal", "2012", "(", "March", "1", ",", "2011", "-", "February", "28", ",", "2012", ")", ".", "The", "Company", "also", "anticipates", "that", "revenue", "for", "the", "combined", "companies", "in", "Fiscal", "2012", "(", "March", "1", ",", "2011", "-", "February", "28", ",", "2012", ")", "will", "be", "approximately", "$", "730 million", ",", "with", "potential", "upside", "for", "growth", "based", "on", "market", "conditions", "and", "continued", "execution", "of", "strategic", "growth", "initiatives", ".", "Patrick", "Lavelle", ",", "President", "and", "CEO", "of", "Audiovox", "Corporation", "stated", ",", "\"", "We", "are", "very", "excited", "to", "close", "this", "acquisition", "because", "it", "not", "only", "adds", "world", "-", "class", "brands", "with", "strong", "distribution", ",", "both", "domestically", "and", "abroad", ",", "but", "it", "also", "gives", "us", "entre", "into", "the", "high", "-", "end", "installation", "market", "at", "both", "the", "residential", "and", "commercial", "level", ".", "In", "addition", "to", "#", "1", "market", "positions", "in", "the", "U", ".", "S", ".", ",", "Klipsch", "brands", "are", "recognized", "throughout", "EMEA", ",", "the", "Americas", ",", "and", "the", "Asia", "-", "Pacific", "region", ",", "and", "we", "plan", "to", "continue", "expansion", "into", "other", "key", "international", "markets", ".", "\"", "Lavelle", "continued", ",", "\"", "Klipsch", "R", "&", "D", "capabilities", "and", "its", "quality", "reputation", "are", "second", "to", "none", ",", "and", "we", "intend", "for", "that", "to", "continue", "as", "we", "welcome", "the", "Klipsch", "team", "to", "Audiovox", "\"", ".", "Fred", "Klipsch", ",", "Klipsch", "Group", "Chairman", "and", "CEO", ",", "stated", ",", "\"", "I", "too", "am", "excited", "about", "this", "acquisition", "and", "have", "no", "doubt", "that", "together", "we", "will", "successfully", "execute", "on", "our", "growth", "plans", ",", "expand", "our", "market", "positions", "in", "both", "our", "core", "areas", "and", "new", "markets", ",", "while", "never", "losing", "sight", "of", "the", "brand", ",", "the", "quality", "and", "our", "customers", ".", "Klipsch", "will", "always", "be", "dedicated", "to", "providing", "consumers", "with", "the", "best", "speaker", "solutions", "the", "industry", "has", "to", "offer", ",", "while", "supporting", "our", "worldwide", "customers", "at", "the", "very", "highest", "level", ".", "Our", "team", "is", "excited", "to", "become", "part", "of", "Audiovox", "and", "looks", "forward", "to", "the", "opportunities", "ahead", "\"", ".", "For", "over", "65", "years", ",", "Klipsch", "has", "led", "the", "market", "through", "innovation", ",", "and", "today", ",", "Klipsch", "is", "recognized", "as", "the", "#", "1", "speaker", "company", "with", "leading", "market", "positions", "across", "all", "of", "its", "primary", "categories", ".", "As", "a", "result", "of", "this", "transaction", ",", "Klipsch", "has", "become", "a", "wholly", "owned", "subsidiary", "of", "Audiovox", "Corporation", "and", "will", "operate", "as", "a", "stand", "-", "alone", "entity", ",", "headquartered", "in", "Indianapolis", "and", "run", "by", "its", "current", "management", "team", ".", "This", "transaction", "was", "financed", "through", "a", "combination", "of", "existing", "Audiovox", "cash", "and", "a", "new", "$", "175 million", "asset", "-", "based", "revolving", "credit", "facility", "led", "by", "Wells", "Fargo", "Capital", "Finance", ".", "The", "combined", "assets", "of", "Audiovox", "and", "Klipsch", "will", "secure", "the", "borrowings", "under", "the", "facility", ",", "which", "will", "also", "be", "used", "for", "general", "corporate", "purposes", ".", "Wells", "Fargo", "Securities", ",", "LLC", "acted", "as", "exclusive", "financial", "advisor", "to", "the", "Company", "and", "Wells", "Fargo", "Capital", "Finance", "provided", "the", "committed", "debt", "financing", ".", "Houlihan", "Lokey", "Howard", "&", "Zukin", "acted", "as", "financial", "advisor", "to", "Klipsch", "and", "Vantage", "Point", "Venture", "Partners", ".", "Barnes", "&", "Thornburg", "LLP", "served", "as", "legal", "counsel", "for", "Klipsch", ".", "Duane", "Morris", "LLP", "assisted", "as", "legal", "counsel", "for", "Audiovox", "Corp", ".", "1", "CONFERENCE", "CALL", "AND", "WEBCAST", "INFORMATION", ":", "The", "Company", "will", "be", "hosting", "its", "conference", "call", "on", "Tuesday", ",", "March", "8", ",", "2011", "at", "10", ":", "00", "a.m.", "Eastern", ".", "Interested", "parties", "can", "participate", "by", "visiting", "www.audiovox.com", ",", "and", "clicking", "on", "the", "webcast", "in", "the", "Investor", "Relations", "section", "or", "via", "teleconference", "(", "toll", "-", "free", "number", ":", "866", "-", "783", "-", "2137", ";", "international", "number", ":", "857", "-", "350", "-", "1596", ";", "pass", "code", ":", "20569057", ")", ".", "For", "those", "who", "will", "be", "unable", "to", "participate", ",", "a", "replay", "will", "be", "available", "approximately", "one", "hour", "after", "the", "call", "has", "been", "completed", "and", "will", "last", "for", "one", "week", "thereafter", "(", "replay", "number", ":", "888", "-", "286", "-", "8010", ";", "international", "replay", "number", ":", "617", "-", "801", "-", "6888", ";", "pass", "code", ":", "20721385", ")", ".", "Wells", "Fargo", "Securities", ",", "LLC", "acted", "as", "exclusive", "financial", "advisor", "to", "the", "Company", "and", "Wells", "Fargo", "Capital", "Finance", ",", "LLC", "provided", "the", "committed", "debt", "financing", ".", "Houlihan", "Lokey", "Howard", "&", "Zukin", "acted", "as", "financial", "advisors", "to", "the", "Klipsch", "Group", "and", "Vantage", "Point", "Venture", "Partners", ".", "Barnes", "&", "Thornburg", "LLP", "served", "as", "legal", "counsel", "for", "Klipsch", "Group", ".", "Duane", "Morris", "LLP", "and", "Levy", ",", "Stopol", "and", "Camelo", "assisted", "as", "legal", "counsel", "for", "Audiovox", "Corp", ".", "About", "Audiovox", "Audiovox", "(", "NASDAQ", ":", "VOXX", ")", "is", "a", "recognized", "leader", "in", "the", "marketing", "of", "mobile", "and", "consumer", "electronics", "products", "and", "accessories", ".", "The", "Company", "has", "a", "substantial", "International", "operation", "selling", "products", "through", "offices", "in", "Europe", ",", "Asia", ",", "Venezuela", "and", "Mexico", ".", "In", "addition", ",", "the", "Company", "is", "a", "supplier", "of", "Original", "Equipment", "(", "OE", ")", "both", "domestically", "and", "internationally", "to", "a", "significant", "number", "of", "the", "major", "vehicle", "manufacturers", "in", "the", "world", ".", "Among", "the", "lines", "marketed", "by", "Audiovox", "are", "its", "mobile", "entertainment", "products", "including", "rear", "seat", "entertainment", "systems", ",", "mobile", "multimedia", "systems", "and", "satellite", "radio", ".", "Vehicle", "security", ",", "remote", "start", "and", "collision", "avoidance", "products", "round", "out", "our", "mobile", "electronic", "lines", ".", "Our", "consumer", "electronics", "products", "include", "digital", "camcorders", ",", "DVRs", "and", "Internet", "radios", ".", "We", "also", "supply", "high", "-", "end", "TV", "remote", "controls", ",", "wireless", "speakers", ",", "headphones", ",", "the", "leading", "line", "of", "HD", "indoor", "/", "outdoor", "antennas", ",", "connectivity", "products", ",", "and", "personal", "sound", "amplifiers", ".", "You", "can", "find", "Audiovox", "products", "in", "virtually", "every", "distribution", "channel", "from", "the", "world", "'s", "largest", "retailers", "to", "car", "dealers", "to", "small", "independents", ".", "The", "Company", "owns", "over", "twenty", "global", "brands", "and", "markets", "its", "products", "domestically", "primarily", "under", "Audiovox", ",", "RCA", ",", "Jensen", ",", "Acoustic", "Research", ",", "and", "Advent", ".", "Key", "European", "brands", "include", "Magnat", ",", "Mac", "Audio", ",", "Heco", ",", "Schweiger", "and", "Oehlbach", ".", "For", "additional", "information", ",", "visit", "our", "Web", "site", "at", "www.audiovox.com", ".", "About", "Klipsch", "Group", ",", "Inc", ".", "Founded", "in", "1946", "by", "Paul", "W", ".", "Klipsch", ",", "one", "of", "America", "'s", "most", "celebrated", "audio", "pioneers", ",", "and", "then", "acquired", "by", "Fred", "and", "Judy", "Klipsch", "in", "1989", ",", "Klipsch", "has", "long", "been", "a", "high", "-", "end", "name", "in", "speaker", "design", ".", "Today", ",", "the", "brand", "continues", "its", "success", "as", "a", "leading", "global", "manufacturer", "of", "premium", "speaker", "solutions", "for", "home", ",", "personal", "and", "commercial", "use", ".", "From", "massive", "professional", "cinema", "speakers", "to", "tiny", "headphones", ",", "Klipsch", "remains", "committed", "to", "delivering", "the", "most", "powerful", ",", "detailed", "and", "emotional", "sound", "experiences", ".", "2", "The", "products", "sold", "by", "Klipsch", "include", "home", "theater", "systems", ",", "floor", "standing", "speakers", ",", "bookshelf", "speakers", ",", "center", "speakers", ",", "surround", "speakers", "and", "5", ".", "1", "systems", ",", "subwoofers", ",", "headphones", ",", "flat", "panel", "speakers", ",", "architectural", "speakers", ",", "outdoor", "speakers", ",", "iPod", "/", "Computer", "speakers", ",", "cinema", "speakers", ",", "business", "music", "systems", ",", "accessory", "products", "and", "more", ".", "For", "more", "information", ",", "visit", "www.klipsch.com", ".", "Safe", "Harbor", "Statement", "Except", "for", "historical", "information", "contained", "herein", ",", "statements", "made", "in", "this", "release", "that", "would", "constitute", "forward", "-", "looking", "statements", "may", "involve", "certain", "risks", "and", "uncertainties", ".", "All", "forward", "-", "looking", "statements", "made", "in", "this", "release", "are", "based", "on", "currently", "available", "information", "and", "the", "Company", "assumes", "no", "responsibility", "to", "update", "any", "such", "forward", "-", "looking", "statement", ".", "The", "following", "factors", ",", "among", "others", ",", "may", "cause", "actual", "results", "to", "differ", "materially", "from", "the", "results", "suggested", "in", "the", "forward", "-", "looking", "statements", ".", "The", "factors", "include", ",", "but", "are", "not", "limited", "to", "risks", "that", "may", "result", "from", "changes", "in", "the", "Company", "'s", "business", "operations", ";", "our", "ability", "to", "keep", "pace", "with", "technological", "advances", ";", "significant", "competition", "in", "the", "mobile", "and", "consumer", "electronics", "businesses", "as", "well", "as", "the", "accessories", "business", ";", "our", "relationships", "with", "key", "suppliers", "and", "customers", ";", "quality", "and", "consumer", "acceptance", "of", "newly", "introduced", "products", ";", "market", "volatility", ";", "non", "-", "availability", "of", "product", ";", "excess", "inventory", ";", "price", "and", "product", "competition", ";", "new", "product", "introductions", ";", "the", "possibility", "that", "the", "review", "of", "our", "prior", "filings", "by", "the", "SEC", "may", "result", "in", "changes", "to", "our", "financial", "statements", ";", "and", "the", "possibility", "that", "stockholders", "or", "regulatory", "authorities", "may", "initiate", "proceedings", "against", "Audiovox", "and", "/", "or", "our", "officers", "and", "directors", "as", "a", "result", "of", "any", "restatements", ".", "Risk", "factors", "associated", "with", "our", "business", ",", "including", "some", "of", "the", "facts", "set", "forth", "herein", ",", "are", "detailed", "in", "the", "Company", "'s", "Form", "10", "-", "K", "for", "the", "fiscal", "year", "ended", "February", "28", ",", "2010", ".", "Company", "Contact", ":", "GW", "Communications", "Glenn", "Wiener", ",", "President", "Tel", ":", "212", "-", "786", "-", "6011", "Email", ":", "[email protected]", "SOURCE", "Audiovox", "Corporation", "3" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Generic_Info.ANNUAL_REVENUES", "I-Generic_Info.ANNUAL_REVENUES", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "I-Advisors.GENERIC_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "B-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "O", "B-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "I-Advisors.LEGAL_CONSULTING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1592386-000110465917046097-a17-18183_1ex99d1
EX-99.1 3 a17-18183_1ex99d1.htm EX-99.1 Exhibit 99.1 NEW YORK, NY - July 20, 2017 - Virtu Financial, Inc. (NASDAQ: VIRT) today said it completed its acquisition of KCG Holdings, Inc. (NYSE: KCG) on Thursday, July 20, in a cash transaction valued at $20.00 per KCG share, or a total of approximately $1.4 billion. "The leadership of both firms have worked tirelessly to develop a seamless integration plan to apply Virtu's leading edge technology, risk management and rigorous cost discipline to KCG's tremendous client franchises. We are excited to combine two exceptionally talented workforces to execute and deliver on this plan", said Douglas Cifu, Virtu Financial Inc. Chief Executive Officer. As previously announced, Mr. Cifu will continue to serve as Virtu's Chief Executive Officer and Joseph Molluso will continue to serve as Virtu's Chief Financial Officer. As of the close of the transaction, Virtu's board of directors has been expanded to include two additional board members. Bob Greifeld, formerly the CEO of NASDAQ, has been appointed Chairman and will serve on the board's newly formed Strategy Committee along with fellow new appointee Glenn Hutchins, co-founder of Silver Lake Partners. Founder and outgoing Chairman, Vincent Viola, will continue to serve on Virtu's board of directors and Nominating and Corporate Governance Committee, and will also serve as Founder and Chairman Emeritus and on Virtu's new Strategy Committee. About Virtu Financial, Inc. Virtu is a leading technology-enabled market maker and liquidity provider to the global financial markets. We stand ready, at any time, to buy or sell a broad range of securities and other financial instruments, and we generate revenue by buying and selling securities and other financial instruments and earning small amounts of money on individual transactions based on the difference between what buyers are willing to pay and what sellers are willing to accept, which we refer to as "bid/ask spreads", across a large volume of transactions. We make markets by providing quotations to buyers and sellers in more than 19,000 securities and other financial instruments on more than 235 unique exchanges, markets and liquidity pools in 36 countries around the world. We believe that our broad diversification, in combination with our proprietary technology platform and low-cost structure, enables us to facilitate risk transfer between global capital markets participants by supplying liquidity and competitive pricing while at the same time earning attractive margins and returns. www.virtu.com Forward-Looking Statements Statements made in this release, which are not historical facts, including statements about Virtu's plans, projected financial results and liquidity, strategies, focus, beliefs 1 and expectations, are forward-looking and subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date they are made and, except for Virtu's ongoing obligations under the U.S. federal securities laws, Virtu undertakes no obligation to publicly update any forward-looking statement, whether to reflect actual results of operations; changes in financial condition; changes in expectation of results of operations and liquidity; changes in general U.S. or international economic or industry conditions; changes in estimates, expectations or assumptions; or other circumstances, conditions, developments or events arising after this release. Such forward-looking statements include, without limitation, Virtu's beliefs, expectations, guidance, focus and/or plans regarding future events. Actual results may differ materially from such forward-looking statements for a number of reasons, including as a result of the risks described and other items in Virtu's filings with the SEC, including Virtu's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC during 2017. Additional important factors that could cause actual results to differ materially from those indicated by forward-looking statements include risks and uncertainties relating to: the parties being unable to successfully implement integration strategies or realize the anticipated benefits of the acquisition, including the possibility that the expected synergies and cost reductions from the acquisition will not be realized or will not be realized within the expected time period. Factors other than those referred to above could also cause Virtu's results to differ materially from expected results. Additionally, the business and financial materials and any other statement or disclosure on, or made available through, Virtu's websites or other websites referenced herein shall not be incorporated by reference into this release. 2
[ "EX", "-", "99", ".", "1", "3", "a17", "-", "18183", "_", "1ex99d1", ".", "htm", "EX", "-", "99", ".", "1", "Exhibit", "99", ".", "1", "NEW", "YORK", ",", "NY", "-", "July", "20", ",", "2017", "-", "Virtu", "Financial", ",", "Inc", ".", "(", "NASDAQ", ":", "VIRT", ")", "today", "said", "it", "completed", "its", "acquisition", "of", "KCG", "Holdings", ",", "Inc", ".", "(", "NYSE", ":", "KCG", ")", "on", "Thursday", ",", "July", "20", ",", "in", "a", "cash", "transaction", "valued", "at", "$", "20.00", "per", "KCG", "share", ",", "or", "a", "total", "of", "approximately", "$", "1.4 billion", ".", "\"", "The", "leadership", "of", "both", "firms", "have", "worked", "tirelessly", "to", "develop", "a", "seamless", "integration", "plan", "to", "apply", "Virtu", "'s", "leading", "edge", "technology", ",", "risk", "management", "and", "rigorous", "cost", "discipline", "to", "KCG", "'s", "tremendous", "client", "franchises", ".", "We", "are", "excited", "to", "combine", "two", "exceptionally", "talented", "workforces", "to", "execute", "and", "deliver", "on", "this", "plan", "\"", ",", "said", "Douglas", "Cifu", ",", "Virtu", "Financial", "Inc", ".", "Chief", "Executive", "Officer", ".", "As", "previously", "announced", ",", "Mr", ".", "Cifu", "will", "continue", "to", "serve", "as", "Virtu", "'s", "Chief", "Executive", "Officer", "and", "Joseph", "Molluso", "will", "continue", "to", "serve", "as", "Virtu", "'s", "Chief", "Financial", "Officer", ".", "As", "of", "the", "close", "of", "the", "transaction", ",", "Virtu", "'s", "board", "of", "directors", "has", "been", "expanded", "to", "include", "two", "additional", "board", "members", ".", "Bob", "Greifeld", ",", "formerly", "the", "CEO", "of", "NASDAQ", ",", "has", "been", "appointed", "Chairman", "and", "will", "serve", "on", "the", "board", "'s", "newly", "formed", "Strategy", "Committee", "along", "with", "fellow", "new", "appointee", "Glenn", "Hutchins", ",", "co", "-", "founder", "of", "Silver", "Lake", "Partners", ".", "Founder", "and", "outgoing", "Chairman", ",", "Vincent", "Viola", ",", "will", "continue", "to", "serve", "on", "Virtu", "'s", "board", "of", "directors", "and", "Nominating", "and", "Corporate", "Governance", "Committee", ",", "and", "will", "also", "serve", "as", "Founder", "and", "Chairman", "Emeritus", "and", "on", "Virtu", "'s", "new", "Strategy", "Committee", ".", "About", "Virtu", "Financial", ",", "Inc", ".", "Virtu", "is", "a", "leading", "technology", "-", "enabled", "market", "maker", "and", "liquidity", "provider", "to", "the", "global", "financial", "markets", ".", "We", "stand", "ready", ",", "at", "any", "time", ",", "to", "buy", "or", "sell", "a", "broad", "range", "of", "securities", "and", "other", "financial", "instruments", ",", "and", "we", "generate", "revenue", "by", "buying", "and", "selling", "securities", "and", "other", "financial", "instruments", "and", "earning", "small", "amounts", "of", "money", "on", "individual", "transactions", "based", "on", "the", "difference", "between", "what", "buyers", "are", "willing", "to", "pay", "and", "what", "sellers", "are", "willing", "to", "accept", ",", "which", "we", "refer", "to", "as", "\"", "bid", "/", "ask", "spreads", "\"", ",", "across", "a", "large", "volume", "of", "transactions", ".", "We", "make", "markets", "by", "providing", "quotations", "to", "buyers", "and", "sellers", "in", "more", "than", "19,000", "securities", "and", "other", "financial", "instruments", "on", "more", "than", "235", "unique", "exchanges", ",", "markets", "and", "liquidity", "pools", "in", "36", "countries", "around", "the", "world", ".", "We", "believe", "that", "our", "broad", "diversification", ",", "in", "combination", "with", "our", "proprietary", "technology", "platform", "and", "low", "-", "cost", "structure", ",", "enables", "us", "to", "facilitate", "risk", "transfer", "between", "global", "capital", "markets", "participants", "by", "supplying", "liquidity", "and", "competitive", "pricing", "while", "at", "the", "same", "time", "earning", "attractive", "margins", "and", "returns", ".", "www.virtu.com", "Forward", "-", "Looking", "Statements", "Statements", "made", "in", "this", "release", ",", "which", "are", "not", "historical", "facts", ",", "including", "statements", "about", "Virtu", "'s", "plans", ",", "projected", "financial", "results", "and", "liquidity", ",", "strategies", ",", "focus", ",", "beliefs", "1", "and", "expectations", ",", "are", "forward", "-", "looking", "and", "subject", "to", "the", "safe", "harbor", "provisions", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "Forward", "-", "looking", "statements", "speak", "only", "as", "of", "the", "date", "they", "are", "made", "and", ",", "except", "for", "Virtu", "'s", "ongoing", "obligations", "under", "the", "U", ".", "S", ".", "federal", "securities", "laws", ",", "Virtu", "undertakes", "no", "obligation", "to", "publicly", "update", "any", "forward", "-", "looking", "statement", ",", "whether", "to", "reflect", "actual", "results", "of", "operations", ";", "changes", "in", "financial", "condition", ";", "changes", "in", "expectation", "of", "results", "of", "operations", "and", "liquidity", ";", "changes", "in", "general", "U", ".", "S", ".", "or", "international", "economic", "or", "industry", "conditions", ";", "changes", "in", "estimates", ",", "expectations", "or", "assumptions", ";", "or", "other", "circumstances", ",", "conditions", ",", "developments", "or", "events", "arising", "after", "this", "release", ".", "Such", "forward", "-", "looking", "statements", "include", ",", "without", "limitation", ",", "Virtu", "'s", "beliefs", ",", "expectations", ",", "guidance", ",", "focus", "and", "/", "or", "plans", "regarding", "future", "events", ".", "Actual", "results", "may", "differ", "materially", "from", "such", "forward", "-", "looking", "statements", "for", "a", "number", "of", "reasons", ",", "including", "as", "a", "result", "of", "the", "risks", "described", "and", "other", "items", "in", "Virtu", "'s", "filings", "with", "the", "SEC", ",", "including", "Virtu", "'s", "Annual", "Report", "on", "Form", "10", "-", "K", ",", "Quarterly", "Reports", "on", "Form", "10", "-", "Q", "and", "Current", "Reports", "on", "Form", "8", "-", "K", "filed", "with", "the", "SEC", "during", "2017", ".", "Additional", "important", "factors", "that", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "indicated", "by", "forward", "-", "looking", "statements", "include", "risks", "and", "uncertainties", "relating", "to", ":", "the", "parties", "being", "unable", "to", "successfully", "implement", "integration", "strategies", "or", "realize", "the", "anticipated", "benefits", "of", "the", "acquisition", ",", "including", "the", "possibility", "that", "the", "expected", "synergies", "and", "cost", "reductions", "from", "the", "acquisition", "will", "not", "be", "realized", "or", "will", "not", "be", "realized", "within", "the", "expected", "time", "period", ".", "Factors", "other", "than", "those", "referred", "to", "above", "could", "also", "cause", "Virtu", "'s", "results", "to", "differ", "materially", "from", "expected", "results", ".", "Additionally", ",", "the", "business", "and", "financial", "materials", "and", "any", "other", "statement", "or", "disclosure", "on", ",", "or", "made", "available", "through", ",", "Virtu", "'s", "websites", "or", "other", "websites", "referenced", "herein", "shall", "not", "be", "incorporated", "by", "reference", "into", "this", "release", ".", "2" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
885508-000083125906000019-exhibit99_1
EX-99.1 3 exhibit99_1.htm EXHIBIT99_1 exhibit99_1 NEWS RELEASE NASDAQ Symbol: "STRS" Stratus Properties Inc. Financial and Media Contact: 98 San Jacinto Blvd. Suite 220 William H. Armstrong III Austin, Texas 78701 (512) 478-5788 STRATUS PROPERTIES INC. ANNOUNCES COMPLETION OF SALE OF 7000 WEST AUSTIN, TX, March 29, 2006 - Stratus Properties Inc. (NASDAQ: STRS) announced today the completion of the sale of its two 70,000-square-foot office buildings at 7000 West William Cannon Drive (7000 West), known as the Lantana Corporate Center, to CarrAmerica Lantana, LP for $22.3 million. The purchaser paid $10.6 million cash to Stratus at closing and assumed the $11.7 million principal balance remaining under Stratus' 7000 West project loan. Stratus intends to use the net proceeds from the sale to reduce its other outstanding debt. Stratus will report an approximate $10 million gain on the transaction in its first-quarter 2006 results. William H. Armstrong III, Chairman of the Board, President and Chief Executive Officer stated "The sale of 7000 West is consistent with our commitment to create value by securing and maintaining development entitlements and then developing and building high-quality real estate projects on our properties". Stratus is a diversified real estate company engaged in the acquisition, development, management and sale of commercial, multi-family and residential real estate properties located primarily in the Austin, Texas area. ____________________________ A copy of this press release and additional information about our company are available on our website at http://www.stratusproperties.com. # # #
[ "EX", "-", "99", ".", "1", "3", "exhibit99", "_", "1", ".", "htm", "EXHIBIT99", "_", "1", "exhibit99", "_", "1", "NEWS", "RELEASE", "NASDAQ", "Symbol", ":", "\"", "STRS", "\"", "Stratus", "Properties", "Inc", ".", "Financial", "and", "Media", "Contact", ":", "98", "San", "Jacinto", "Blvd", ".", "Suite", "220", "William", "H", ".", "Armstrong", "III", "Austin", ",", "Texas", "78701", "(", "512", ")", "478", "-", "5788", "STRATUS", "PROPERTIES", "INC", ".", "ANNOUNCES", "COMPLETION", "OF", "SALE", "OF", "7000", "WEST", "AUSTIN", ",", "TX", ",", "March", "29", ",", "2006", "-", "Stratus", "Properties", "Inc", ".", "(", "NASDAQ", ":", "STRS", ")", "announced", "today", "the", "completion", "of", "the", "sale", "of", "its", "two", "70,000", "-", "square", "-", "foot", "office", "buildings", "at", "7000", "West William Cannon", "Drive", "(", "7000", "West", ")", ",", "known", "as", "the", "Lantana", "Corporate", "Center", ",", "to", "CarrAmerica", "Lantana", ",", "LP", "for", "$", "22.3", "million", ".", "The", "purchaser", "paid", "$", "10.6 million", "cash", "to", "Stratus", "at", "closing", "and", "assumed", "the", "$", "11.7 million", "principal", "balance", "remaining", "under", "Stratus", "'", "7000", "West", "project", "loan", ".", "Stratus", "intends", "to", "use", "the", "net", "proceeds", "from", "the", "sale", "to", "reduce", "its", "other", "outstanding", "debt", ".", "Stratus", "will", "report", "an", "approximate", "$", "10 million", "gain", "on", "the", "transaction", "in", "its", "first", "-", "quarter", "2006", "results", ".", "William", "H", ".", "Armstrong", "III", ",", "Chairman", "of", "the", "Board", ",", "President", "and", "Chief", "Executive", "Officer", "stated", "\"", "The", "sale", "of", "7000", "West", "is", "consistent", "with", "our", "commitment", "to", "create", "value", "by", "securing", "and", "maintaining", "development", "entitlements", "and", "then", "developing", "and", "building", "high", "-", "quality", "real", "estate", "projects", "on", "our", "properties", "\"", ".", "Stratus", "is", "a", "diversified", "real", "estate", "company", "engaged", "in", "the", "acquisition", ",", "development", ",", "management", "and", "sale", "of", "commercial", ",", "multi", "-", "family", "and", "residential", "real", "estate", "properties", "located", "primarily", "in", "the", "Austin", ",", "Texas", "area", ".", "____________________________", "A", "copy", "of", "this", "press", "release", "and", "additional", "information", "about", "our", "company", "are", "available", "on", "our", "website", "at", "http://www.stratusproperties.com", ".", "#", "#", "#" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1422949-000121390014001146-f8k021514ex99i_nextfuel
EX-99.1 2 f8k021514ex99i_nextfuel.htm PRESS RELEASE OF NEXT FUEL, INC. f8k021514ex99i_nextfuel.htm Exhibit 99.1 FOR IMMEDIATE RELEASE Next Fuel, Inc. divests its Coal-to-Gas Technology to concentrate on its core Water Treatment Business SHERIDAN, Wyo., February 26, 2014 -- Next Fuel, Inc. (OTCQB:NXFI) announced that it has sold the Company's Coal to Gas Technology. Next Fuel, Inc has sold it's Coal to Gas technology to Star Holding (U. K.) Ltd., which is controlled by Mr. Guangwei Guo, a member of the Board of Directors of the Company who also controls the Company's China licensee. The transaction was approved by the Company's Board of Directors at a meeting held on February 21, 2014. The primary terms of the sale are that Mr. Guo is transferring back to the Company 600,000 shares of Common Stock of the Company and terminate the Company's obligation to maintain a registration statement for resale of the remaining 1,851,666 shares of the Company Mr. Guo and his business associates own. The Company will retain an exclusive license to rights in the United States to the CTG technology being sold. The license is royalty free for all transactions entered into by the Company on or before August 1, 2014. The Company and the buyer will negotiate a royalty to be paid by the Company for contracts in the United States entered into by the Company after August 1, 2014. The Company also agreed to nominate Mr. Guo to continue as a member of the Company's Board of Directors at the next annual meeting of the shareholders of the Company. Robert Craig, Chairman and CEO of Next Fuel, Inc., stated, " The Company's Board of Directors approved this transaction as part of our restructuring efforts so that our limited financial resources required to support efforts to commercialize the Company's Coal to Gas Technology can be reallocated to other business opportunities". About Next Fuel, Inc. We are a technology provider and service company with a current focus on technology and products that have immediate and future promise in the water treatment industry. We are continuing development of our LPV technology and are evaluating several other water treatment technologies that we may have the opportunity to license or purchase to give the company a wide range of water treatment options. Our technology and services are all in various stages of development or are being investigated by the Company as targets for acquisition. None have generated substantial revenue for us to date and we face substantial challenges in completing development or acquisition of these technologies and services businesses. Forward-Looking Statements This announcement contains forward-looking statements, including statements regarding future business to be conducted by the Company, all of which involve risks and uncertainties. Actual results could differ materially from those discussed. Factors that could cause or contribute to such differences include, but are not limited to, our need ot raise capital and other factors discussed in our filings with the Securities and Exchange Commission.. All forward-looking statements are based on information available to us on the date hereof, and we assume no obligation to update such statements. Contact Details: Investor Relations Contact Rob Kindle Tel: 1.307.674.2145. E-mail: [email protected] 2
[ "EX", "-", "99", ".", "1", "2", "f8k021514ex99i", "_", "nextfuel", ".", "htm", "PRESS", "RELEASE", "OF", "NEXT", "FUEL", ",", "INC", ".", "f8k021514ex99i", "_", "nextfuel", ".", "htm", "Exhibit", "99", ".", "1", "FOR", "IMMEDIATE", "RELEASE", "Next", "Fuel", ",", "Inc", ".", "divests", "its", "Coal", "-", "to", "-", "Gas", "Technology", "to", "concentrate", "on", "its", "core", "Water", "Treatment", "Business", "SHERIDAN", ",", "Wyo", ".", ",", "February", "26", ",", "2014", "--", "Next", "Fuel", ",", "Inc", ".", "(", "OTCQB", ":", "NXFI", ")", "announced", "that", "it", "has", "sold", "the", "Company", "'s", "Coal", "to", "Gas", "Technology", ".", "Next", "Fuel", ",", "Inc", "has", "sold", "it", "'", "s", "Coal", "to", "Gas", "technology", "to", "Star", "Holding", "(", "U", ".", "K", ".", ")", "Ltd", ".", ",", "which", "is", "controlled", "by", "Mr", ".", "Guangwei", "Guo", ",", "a", "member", "of", "the", "Board", "of", "Directors", "of", "the", "Company", "who", "also", "controls", "the", "Company", "'s", "China", "licensee", ".", "The", "transaction", "was", "approved", "by", "the", "Company", "'s", "Board", "of", "Directors", "at", "a", "meeting", "held", "on", "February", "21", ",", "2014", ".", "The", "primary", "terms", "of", "the", "sale", "are", "that", "Mr", ".", "Guo", "is", "transferring", "back", "to", "the", "Company", "600,000", "shares", "of", "Common", "Stock", "of", "the", "Company", "and", "terminate", "the", "Company", "'s", "obligation", "to", "maintain", "a", "registration", "statement", "for", "resale", "of", "the", "remaining", "1,851,666", "shares", "of", "the", "Company", "Mr", ".", "Guo", "and", "his", "business", "associates", "own", ".", "The", "Company", "will", "retain", "an", "exclusive", "license", "to", "rights", "in", "the", "United", "States", "to", "the", "CTG", "technology", "being", "sold", ".", "The", "license", "is", "royalty", "free", "for", "all", "transactions", "entered", "into", "by", "the", "Company", "on", "or", "before", "August", "1", ",", "2014", ".", "The", "Company", "and", "the", "buyer", "will", "negotiate", "a", "royalty", "to", "be", "paid", "by", "the", "Company", "for", "contracts", "in", "the", "United", "States", "entered", "into", "by", "the", "Company", "after", "August", "1", ",", "2014", ".", "The", "Company", "also", "agreed", "to", "nominate", "Mr", ".", "Guo", "to", "continue", "as", "a", "member", "of", "the", "Company", "'s", "Board", "of", "Directors", "at", "the", "next", "annual", "meeting", "of", "the", "shareholders", "of", "the", "Company", ".", "Robert", "Craig", ",", "Chairman", "and", "CEO", "of", "Next", "Fuel", ",", "Inc", ".", ",", "stated", ",", "\"", "The", "Company", "'s", "Board", "of", "Directors", "approved", "this", "transaction", "as", "part", "of", "our", "restructuring", "efforts", "so", "that", "our", "limited", "financial", "resources", "required", "to", "support", "efforts", "to", "commercialize", "the", "Company", "'s", "Coal", "to", "Gas", "Technology", "can", "be", "reallocated", "to", "other", "business", "opportunities", "\"", ".", "About", "Next", "Fuel", ",", "Inc", ".", "We", "are", "a", "technology", "provider", "and", "service", "company", "with", "a", "current", "focus", "on", "technology", "and", "products", "that", "have", "immediate", "and", "future", "promise", "in", "the", "water", "treatment", "industry", ".", "We", "are", "continuing", "development", "of", "our", "LPV", "technology", "and", "are", "evaluating", "several", "other", "water", "treatment", "technologies", "that", "we", "may", "have", "the", "opportunity", "to", "license", "or", "purchase", "to", "give", "the", "company", "a", "wide", "range", "of", "water", "treatment", "options", ".", "Our", "technology", "and", "services", "are", "all", "in", "various", "stages", "of", "development", "or", "are", "being", "investigated", "by", "the", "Company", "as", "targets", "for", "acquisition", ".", "None", "have", "generated", "substantial", "revenue", "for", "us", "to", "date", "and", "we", "face", "substantial", "challenges", "in", "completing", "development", "or", "acquisition", "of", "these", "technologies", "and", "services", "businesses", ".", "Forward", "-", "Looking", "Statements", "This", "announcement", "contains", "forward", "-", "looking", "statements", ",", "including", "statements", "regarding", "future", "business", "to", "be", "conducted", "by", "the", "Company", ",", "all", "of", "which", "involve", "risks", "and", "uncertainties", ".", "Actual", "results", "could", "differ", "materially", "from", "those", "discussed", ".", "Factors", "that", "could", "cause", "or", "contribute", "to", "such", "differences", "include", ",", "but", "are", "not", "limited", "to", ",", "our", "need", "ot", "raise", "capital", "and", "other", "factors", "discussed", "in", "our", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", ".", ".", "All", "forward", "-", "looking", "statements", "are", "based", "on", "information", "available", "to", "us", "on", "the", "date", "hereof", ",", "and", "we", "assume", "no", "obligation", "to", "update", "such", "statements", ".", "Contact", "Details", ":", "Investor", "Relations", "Contact", "Rob", "Kindle", "Tel", ":", "1", ".", "307", ".", "674", ".", "2145", ".", "E", "-", "mail", ":", "[email protected]", "2" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
97854-000115752307007246-a5456384ex99_1
EX-99.1 3 a5456384ex99_1.txt EXHIBIT 99.1 Exhibit 99.1 Thomas & Betts Corporation Completes Acquisition of Joslyn Hi-Voltage and Power Solutions Businesses from Danaher Corporation MEMPHIS, Tenn.--(BUSINESS WIRE)--July 25, 2007--Thomas & Betts Corporation (NYSE:TNB) today announced that it has completed its acquisition of the Joslyn Hi-Voltage and Power Solutions businesses from Danaher Corporation for $280 million in cash. Joslyn Hi-Voltage offers a broad range of high voltage electric switches, reclosers, vacuum interrupter attachments and related products used mainly by electric utilities. Power Solutions offers a broad range of products and services designed to ensure a high quality, reliable flow of power to commercial and industrial customers for mission critical applications such as datacenters. In a separate transaction, which closed on July 6, 2007, Thomas & Betts acquired Drilling Technical Supply SA (DTS), a privately held French manufacturer of explosion-proof lighting and electrical protection equipment, for approximately $20 million. Thomas & Betts Corporation is a leading manufacturer of electrical components used in construction, industrial and utility markets. The company is also a leading producer of commercial heating and ventilation units and highly engineered steel structures used primarily for utility transmission. Headquartered in Memphis, Tenn., the company has manufacturing, distribution and office facilities worldwide. In 2006, the company reported $1.9 billion in revenues. More information on the company, its products and markets can be found at www.tnb.com. CAUTIONARY STATEMENT This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts and are typically identified by terms such as "optimistic", "trend", "will", and "believe." These statements discuss business strategies, economic outlook and future performance. These forward-looking statements make assumptions regarding the company's operations, business, economic and political environment, including, without limitation, customer demand, government regulation, terrorist acts and acts of war. The actual results may be materially different from any future results expressed or implied by such forward-looking statements. Please see the "Risk Factors" section of the company's Form 10-K for the fiscal year ended December 31, 2006 for further information related to these uncertainties. The company undertakes no obligation to publicly release any revisions to any forward-looking statements contained in this press release to reflect events or circumstances occurring after the date of this release or to reflect the occurrence of unanticipated events. CONTACT: Thomas & Betts Corporation Tricia Bergeron, 901-252-8266 [email protected]
[ "EX", "-", "99", ".", "1", "3", "a5456384ex99", "_", "1", ".", "txt", "EXHIBIT", "99", ".", "1", "Exhibit", "99", ".", "1", "Thomas", "&", "Betts", "Corporation", "Completes", "Acquisition", "of", "Joslyn", "Hi-Voltage", "and", "Power", "Solutions", "Businesses", "from", "Danaher", "Corporation", "MEMPHIS", ",", "Tenn", ".", "--", "(", "BUSINESS", "WIRE", ")", "--", "July", "25", ",", "2007", "--", "Thomas", "&", "Betts", "Corporation", "(", "NYSE", ":", "TNB", ")", "today", "announced", "that", "it", "has", "completed", "its", "acquisition", "of", "the", "Joslyn", "Hi-Voltage", "and", "Power", "Solutions", "businesses", "from", "Danaher", "Corporation", "for", "$", "280 million", "in", "cash", ".", "Joslyn", "Hi-Voltage", "offers", "a", "broad", "range", "of", "high", "voltage", "electric", "switches", ",", "reclosers", ",", "vacuum", "interrupter", "attachments", "and", "related", "products", "used", "mainly", "by", "electric", "utilities", ".", "Power", "Solutions", "offers", "a", "broad", "range", "of", "products", "and", "services", "designed", "to", "ensure", "a", "high", "quality", ",", "reliable", "flow", "of", "power", "to", "commercial", "and", "industrial", "customers", "for", "mission", "critical", "applications", "such", "as", "datacenters", ".", "In", "a", "separate", "transaction", ",", "which", "closed", "on", "July", "6", ",", "2007", ",", "Thomas", "&", "Betts", "acquired", "Drilling", "Technical", "Supply", "SA", "(", "DTS", ")", ",", "a", "privately", "held", "French", "manufacturer", "of", "explosion", "-", "proof", "lighting", "and", "electrical", "protection", "equipment", ",", "for", "approximately", "$", "20 million", ".", "Thomas", "&", "Betts", "Corporation", "is", "a", "leading", "manufacturer", "of", "electrical", "components", "used", "in", "construction", ",", "industrial", "and", "utility", "markets", ".", "The", "company", "is", "also", "a", "leading", "producer", "of", "commercial", "heating", "and", "ventilation", "units", "and", "highly", "engineered", "steel", "structures", "used", "primarily", "for", "utility", "transmission", ".", "Headquartered", "in", "Memphis", ",", "Tenn", ".", ",", "the", "company", "has", "manufacturing", ",", "distribution", "and", "office", "facilities", "worldwide", ".", "In", "2006", ",", "the", "company", "reported", "$", "1.9 billion", "in", "revenues", ".", "More", "information", "on", "the", "company", ",", "its", "products", "and", "markets", "can", "be", "found", "at", "www.tnb.com", ".", "CAUTIONARY", "STATEMENT", "This", "press", "release", "includes", "\"", "forward", "-", "looking", "statements", "\"", "within", "the", "meaning", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "Forward", "-", "looking", "statements", "are", "not", "historical", "facts", "and", "are", "typically", "identified", "by", "terms", "such", "as", "\"", "optimistic", "\"", ",", "\"", "trend", "\"", ",", "\"", "will", "\"", ",", "and", "\"", "believe", ".", "\"", "These", "statements", "discuss", "business", "strategies", ",", "economic", "outlook", "and", "future", "performance", ".", "These", "forward", "-", "looking", "statements", "make", "assumptions", "regarding", "the", "company", "'s", "operations", ",", "business", ",", "economic", "and", "political", "environment", ",", "including", ",", "without", "limitation", ",", "customer", "demand", ",", "government", "regulation", ",", "terrorist", "acts", "and", "acts", "of", "war", ".", "The", "actual", "results", "may", "be", "materially", "different", "from", "any", "future", "results", "expressed", "or", "implied", "by", "such", "forward", "-", "looking", "statements", ".", "Please", "see", "the", "\"", "Risk", "Factors", "\"", "section", "of", "the", "company", "'s", "Form", "10", "-", "K", "for", "the", "fiscal", "year", "ended", "December", "31", ",", "2006", "for", "further", "information", "related", "to", "these", "uncertainties", ".", "The", "company", "undertakes", "no", "obligation", "to", "publicly", "release", "any", "revisions", "to", "any", "forward", "-", "looking", "statements", "contained", "in", "this", "press", "release", "to", "reflect", "events", "or", "circumstances", "occurring", "after", "the", "date", "of", "this", "release", "or", "to", "reflect", "the", "occurrence", "of", "unanticipated", "events", ".", "CONTACT", ":", "Thomas", "&", "Betts", "Corporation", "Tricia", "Bergeron", ",", "901", "-", "252", "-", "8266", "[email protected]" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "B-Parties.SELLING_COMPANY", "I-Parties.SELLING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Generic_Info.ANNUAL_REVENUES", "I-Generic_Info.ANNUAL_REVENUES", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]
1038074-000110465920052472-tm2017819d2_ex99-1
EX-99.1 2 tm2017819d2_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 News Release Silicon Labs Completes Acquisition of Redpine Signals' Connectivity Business, Expanding Its IoT Wireless Technology Leadership -- Strategic Acquisition Strengthens Industry's Broadest Low-Power Connectivity Portfolio and Accelerates Wi-Fi® Roadmap -- AUSTIN, Texas and SAN JOSE, Calif. - April 28, 2020 - Silicon Labs (NASDAQ: SLAB), a leading provider of silicon, software and solutions for a smarter, more connected world, today announced the completion of its acquisition of Redpine Signals' Wi-Fi® and Bluetooth® business, development center in Hyderabad, India, and extensive patent portfolio for $308 million in cash. "This acquisition brings critical connectivity technology and talent to help us accelerate our low-power Wi-Fi connectivity roadmap for the Internet of Things while increasing scale and breadth", said Tyson Tuttle, CEO of Silicon Labs. "The world increasingly depends on wireless technology to stay connected. The acquired Redpine connectivity business enables people, teams and businesses around the world to remain safe, productive and in touch". Redpine's low-power Wi-Fi assets and intellectual property provide important technology for IoT connectivity. Wi-Fi 6 (802.11ax), the latest evolution of the Wi-Fi standard, is designed to meet the low power, performance, security and interoperability requirements needed in environments with hundreds or thousands of connected IoT devices. The integration of Redpine Signals' assets will accelerate Silicon Labs' roadmap for Wi-Fi 6 technology. The acquisition also adds Bluetooth Classic IP for audio applications such as wearables, hearables, voice assistants and smart speakers. The Redpine Signals acquisition includes an at-scale design center with approximately 200 employees in Hyderabad, India. The addition of Redpine's multidisciplinary, high-performing team will help Silicon Labs scale R&D faster and more efficiently in one of India's most engineering talent-rich regions. For more information about the Redpine Wi-Fi and Bluetooth products acquired by Silicon Labs, visit silabs.com/redpine-signals . 1 Silicon Labs Silicon Labs (NASDAQ: SLAB) is a leading provider of silicon, software and solutions for a smarter, more connected world. Our award-winning technologies are shaping the future of the Internet of Things, Internet infrastructure, industrial automation, consumer and automotive markets. Our world-class engineering team creates products focused on performance, energy savings, connectivity and simplicity. silabs.com Redpine Signals Redpine Signals, Inc., is a global semiconductor and system solutions company founded in 2001 and headquartered in San Jose, California. It is focused on innovative development of ultra-low power and high-performance wireless and MCU products for next-generation IoT, wearable, home automation, medical, industrial and automotive applications. Forward-Looking Statements This announcement contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning Silicon Labs ("Silicon Labs") and its acquisition (the "Acquisition") of the Wi-Fi® and Bluetooth® business (the "Business") from Redpine Signals and related matters. These statements include, but are not limited to, statements that address Silicon Labs' expected future business and financial performance and statements about (i) the timing, completion and expected benefits of the Acquisition, (ii) plans, objectives and intentions with respect to future operations and products, (iii) competitive position and opportunities, (iv) the impact of the Acquisition on the market for Silicon Labs products, (v) other information relating to the Acquisition and (vii) other statements identified by words such as "will", "expect", "intends", "believe", "anticipate", "estimate", "should", "intend", "plan", "potential", "predict" "project", "aim", and similar words, phrases or expressions. These forward-looking statements are based on current expectations and beliefs of the management of Silicon Labs, as well as assumptions made by, and information currently available to, management, current market trends and market conditions and involve risks and uncertainties, many of which are outside the management's control, and which may cause actual results to differ materially from those contained in forward-looking statements. Accordingly, you should not place undue reliance on such statements. Particular uncertainties that could materially affect future results include any risks associated with the Acquisition such as: (1) problems integrating the acquired operations, technologies or products with Silicon Labs' existing business and products; (2) litigation relating to the Acquisition; (3) tax issues associated with the Acquisition; (4) need for financial resources above Silicon Labs' planned investment levels; (5) the ability of Silicon Labs to retain and hire key personnel; (6) competitive responses to the Acquisition; (7) unexpected or increased costs, charges or expenses resulting from the Acquisition; (8) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Acquisition; (9) risks associated with the transfer of licenses of intellectual property in connection with the Acquisition; (10) Silicon Labs' ability to achieve the growth prospects and synergies expected from the Acquisition, as well as delays, challenges and expenses associated with integrating the Acquisition; and (10) legislative, regulatory and economic developments, particularly in light of the impact of COVID-19 on the U.S. and global economy, including the restrictions on travel and transportation and other actions that may be taken by governmental authorities and disruptions to the business of our customers or our global supply chain. 2 The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with Silicon Labs' filings with the Securities and Exchange Commission ("SEC"), which you may obtain for free at the SEC's website at sec.gov , and which discuss additional important risk factors that may affect the business, results of operations and financial conditions. Silicon Labs does not undertake an obligation to publicly update or revise any of these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. # # # Note to editors: Silicon Labs, Silicon Laboratories, the "S" symbol, the Silicon Laboratories logo and the Silicon Labs logo are trademarks of Silicon Laboratories Inc. All other product names noted herein may be trademarks of their respective holders. Connect with Silicon Labs Investor Relations: Jalene Hoover +1-512-428-1610, [email protected] Public Relations: Dale Weisman +1-512-532-5871, [email protected] 3
[ "EX", "-", "99", ".", "1", "2", "tm2017819d2", "_", "ex99", "-", "1", ".", "htm", "EXHIBIT", "99", ".", "1", "Exhibit", "99", ".", "1", "News", "Release", "Silicon", "Labs", "Completes", "Acquisition", "of", "Redpine", "Signals", "'", "Connectivity", "Business", ",", "Expanding", "Its", "IoT", "Wireless", "Technology", "Leadership", "--", "Strategic", "Acquisition", "Strengthens", "Industry", "'s", "Broadest", "Low", "-", "Power", "Connectivity", "Portfolio", "and", "Accelerates", "Wi", "-", "Fi", "®", "Roadmap", "--", "AUSTIN", ",", "Texas", "and", "SAN", "JOSE", ",", "Calif", ".", "-", "April", "28", ",", "2020", "-", "Silicon", "Labs", "(", "NASDAQ", ":", "SLAB", ")", ",", "a", "leading", "provider", "of", "silicon", ",", "software", "and", "solutions", "for", "a", "smarter", ",", "more", "connected", "world", ",", "today", "announced", "the", "completion", "of", "its", "acquisition", "of", "Redpine", "Signals", "'", "Wi", "-", "Fi", "®", "and", "Bluetooth", "®", "business", ",", "development", "center", "in", "Hyderabad", ",", "India", ",", "and", "extensive", "patent", "portfolio", "for", "$", "308 million", "in", "cash", ".", "\"", "This", "acquisition", "brings", "critical", "connectivity", "technology", "and", "talent", "to", "help", "us", "accelerate", "our", "low", "-", "power", "Wi", "-", "Fi", "connectivity", "roadmap", "for", "the", "Internet", "of", "Things", "while", "increasing", "scale", "and", "breadth", "\"", ",", "said", "Tyson", "Tuttle", ",", "CEO", "of", "Silicon", "Labs", ".", "\"", "The", "world", "increasingly", "depends", "on", "wireless", "technology", "to", "stay", "connected", ".", "The", "acquired", "Redpine", "connectivity", "business", "enables", "people", ",", "teams", "and", "businesses", "around", "the", "world", "to", "remain", "safe", ",", "productive", "and", "in", "touch", "\"", ".", "Redpine", "'s", "low", "-", "power", "Wi", "-", "Fi", "assets", "and", "intellectual", "property", "provide", "important", "technology", "for", "IoT", "connectivity", ".", "Wi", "-", "Fi", "6", "(", "802", ".", "11ax", ")", ",", "the", "latest", "evolution", "of", "the", "Wi", "-", "Fi", "standard", ",", "is", "designed", "to", "meet", "the", "low", "power", ",", "performance", ",", "security", "and", "interoperability", "requirements", "needed", "in", "environments", "with", "hundreds", "or", "thousands", "of", "connected", "IoT", "devices", ".", "The", "integration", "of", "Redpine", "Signals", "'", "assets", "will", "accelerate", "Silicon", "Labs", "'", "roadmap", "for", "Wi", "-", "Fi", "6", "technology", ".", "The", "acquisition", "also", "adds", "Bluetooth", "Classic", "IP", "for", "audio", "applications", "such", "as", "wearables", ",", "hearables", ",", "voice", "assistants", "and", "smart", "speakers", ".", "The", "Redpine", "Signals", "acquisition", "includes", "an", "at", "-", "scale", "design", "center", "with", "approximately", "200", "employees", "in", "Hyderabad", ",", "India", ".", "The", "addition", "of", "Redpine", "'s", "multidisciplinary", ",", "high", "-", "performing", "team", "will", "help", "Silicon", "Labs", "scale", "R", "&", "D", "faster", "and", "more", "efficiently", "in", "one", "of", "India", "'s", "most", "engineering", "talent", "-", "rich", "regions", ".", "For", "more", "information", "about", "the", "Redpine", "Wi", "-", "Fi", "and", "Bluetooth", "products", "acquired", "by", "Silicon", "Labs", ",", "visit", "silabs.com/redpine-signals", ".", "1", "Silicon", "Labs", "Silicon", "Labs", "(", "NASDAQ", ":", "SLAB", ")", "is", "a", "leading", "provider", "of", "silicon", ",", "software", "and", "solutions", "for", "a", "smarter", ",", "more", "connected", "world", ".", "Our", "award", "-", "winning", "technologies", "are", "shaping", "the", "future", "of", "the", "Internet", "of", "Things", ",", "Internet", "infrastructure", ",", "industrial", "automation", ",", "consumer", "and", "automotive", "markets", ".", "Our", "world", "-", "class", "engineering", "team", "creates", "products", "focused", "on", "performance", ",", "energy", "savings", ",", "connectivity", "and", "simplicity", ".", "silabs.com", "Redpine", "Signals", "Redpine", "Signals", ",", "Inc", ".", ",", "is", "a", "global", "semiconductor", "and", "system", "solutions", "company", "founded", "in", "2001", "and", "headquartered", "in", "San", "Jose", ",", "California", ".", "It", "is", "focused", "on", "innovative", "development", "of", "ultra", "-", "low", "power", "and", "high", "-", "performance", "wireless", "and", "MCU", "products", "for", "next", "-", "generation", "IoT", ",", "wearable", ",", "home", "automation", ",", "medical", ",", "industrial", "and", "automotive", "applications", ".", "Forward", "-", "Looking", "Statements", "This", "announcement", "contains", "forward", "-", "looking", "statements", "(", "including", "within", "the", "meaning", "of", "Section", "21E", "of", "the", "United", "States", "Securities", "Exchange", "Act", "of", "1934", ",", "as", "amended", ",", "and", "Section", "27A", "of", "the", "United", "States", "Securities", "Act", "of", "1933", ",", "as", "amended", ")", "concerning", "Silicon", "Labs", "(", "\"", "Silicon", "Labs", "\"", ")", "and", "its", "acquisition", "(", "the", "\"", "Acquisition", "\"", ")", "of", "the", "Wi", "-", "Fi", "®", "and", "Bluetooth", "®", "business", "(", "the", "\"", "Business", "\"", ")", "from", "Redpine", "Signals", "and", "related", "matters", ".", "These", "statements", "include", ",", "but", "are", "not", "limited", "to", ",", "statements", "that", "address", "Silicon", "Labs", "'", "expected", "future", "business", "and", "financial", "performance", "and", "statements", "about", "(", "i", ")", "the", "timing", ",", "completion", "and", "expected", "benefits", "of", "the", "Acquisition", ",", "(", "ii", ")", "plans", ",", "objectives", "and", "intentions", "with", "respect", "to", "future", "operations", "and", "products", ",", "(", "iii", ")", "competitive", "position", "and", "opportunities", ",", "(", "iv", ")", "the", "impact", "of", "the", "Acquisition", "on", "the", "market", "for", "Silicon", "Labs", "products", ",", "(", "v", ")", "other", "information", "relating", "to", "the", "Acquisition", "and", "(", "vii", ")", "other", "statements", "identified", "by", "words", "such", "as", "\"", "will", "\"", ",", "\"", "expect", "\"", ",", "\"", "intends", "\"", ",", "\"", "believe", "\"", ",", "\"", "anticipate", "\"", ",", "\"", "estimate", "\"", ",", "\"", "should", "\"", ",", "\"", "intend", "\"", ",", "\"", "plan", "\"", ",", "\"", "potential", "\"", ",", "\"", "predict", "\"", "\"", "project", "\"", ",", "\"", "aim", "\"", ",", "and", "similar", "words", ",", "phrases", "or", "expressions", ".", "These", "forward", "-", "looking", "statements", "are", "based", "on", "current", "expectations", "and", "beliefs", "of", "the", "management", "of", "Silicon", "Labs", ",", "as", "well", "as", "assumptions", "made", "by", ",", "and", "information", "currently", "available", "to", ",", "management", ",", "current", "market", "trends", "and", "market", "conditions", "and", "involve", "risks", "and", "uncertainties", ",", "many", "of", "which", "are", "outside", "the", "management", "'s", "control", ",", "and", "which", "may", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "contained", "in", "forward", "-", "looking", "statements", ".", "Accordingly", ",", "you", "should", "not", "place", "undue", "reliance", "on", "such", "statements", ".", "Particular", "uncertainties", "that", "could", "materially", "affect", "future", "results", "include", "any", "risks", "associated", "with", "the", "Acquisition", "such", "as", ":", "(", "1", ")", "problems", "integrating", "the", "acquired", "operations", ",", "technologies", "or", "products", "with", "Silicon", "Labs", "'", "existing", "business", "and", "products", ";", "(", "2", ")", "litigation", "relating", "to", "the", "Acquisition", ";", "(", "3", ")", "tax", "issues", "associated", "with", "the", "Acquisition", ";", "(", "4", ")", "need", "for", "financial", "resources", "above", "Silicon", "Labs", "'", "planned", "investment", "levels", ";", "(", "5", ")", "the", "ability", "of", "Silicon", "Labs", "to", "retain", "and", "hire", "key", "personnel", ";", "(", "6", ")", "competitive", "responses", "to", "the", "Acquisition", ";", "(", "7", ")", "unexpected", "or", "increased", "costs", ",", "charges", "or", "expenses", "resulting", "from", "the", "Acquisition", ";", "(", "8", ")", "potential", "adverse", "reactions", "or", "changes", "to", "business", "relationships", "resulting", "from", "the", "announcement", "or", "completion", "of", "the", "Acquisition", ";", "(", "9", ")", "risks", "associated", "with", "the", "transfer", "of", "licenses", "of", "intellectual", "property", "in", "connection", "with", "the", "Acquisition", ";", "(", "10", ")", "Silicon", "Labs", "'", "ability", "to", "achieve", "the", "growth", "prospects", "and", "synergies", "expected", "from", "the", "Acquisition", ",", "as", "well", "as", "delays", ",", "challenges", "and", "expenses", "associated", "with", "integrating", "the", "Acquisition", ";", "and", "(", "10", ")", "legislative", ",", "regulatory", "and", "economic", "developments", ",", "particularly", "in", "light", "of", "the", "impact", "of", "COVID", "-", "19", "on", "the", "U", ".", "S", ".", "and", "global", "economy", ",", "including", "the", "restrictions", "on", "travel", "and", "transportation", "and", "other", "actions", "that", "may", "be", "taken", "by", "governmental", "authorities", "and", "disruptions", "to", "the", "business", "of", "our", "customers", "or", "our", "global", "supply", "chain", ".", "2", "The", "foregoing", "review", "of", "important", "factors", "that", "could", "cause", "actual", "events", "to", "differ", "from", "expectations", "should", "not", "be", "construed", "as", "exhaustive", "and", "should", "be", "read", "in", "conjunction", "with", "Silicon", "Labs", "'", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", "(", "\"", "SEC", "\"", ")", ",", "which", "you", "may", "obtain", "for", "free", "at", "the", "SEC", "'s", "website", "at", "sec.gov", ",", "and", "which", "discuss", "additional", "important", "risk", "factors", "that", "may", "affect", "the", "business", ",", "results", "of", "operations", "and", "financial", "conditions", ".", "Silicon", "Labs", "does", "not", "undertake", "an", "obligation", "to", "publicly", "update", "or", "revise", "any", "of", "these", "forward", "-", "looking", "statements", ",", "whether", "as", "a", "result", "of", "new", "information", ",", "future", "events", "or", "otherwise", ",", "except", "as", "required", "by", "law", ".", "#", "#", "#", "Note", "to", "editors", ":", "Silicon", "Labs", ",", "Silicon", "Laboratories", ",", "the", "\"", "S", "\"", "symbol", ",", "the", "Silicon", "Laboratories", "logo", "and", "the", "Silicon", "Labs", "logo", "are", "trademarks", "of", "Silicon", "Laboratories", "Inc", ".", "All", "other", "product", "names", "noted", "herein", "may", "be", "trademarks", "of", "their", "respective", "holders", ".", "Connect", "with", "Silicon", "Labs", "Investor", "Relations", ":", "Jalene", "Hoover", "+", "1", "-", "512", "-", "428", "-", "1610", ",", "[email protected]", "Public", "Relations", ":", "Dale", "Weisman", "+", "1", "-", "512", "-", "532", "-", "5871", ",", "[email protected]", "3" ]
[ "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "I-Parties.ACQUIRED_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "B-Parties.BUYING_COMPANY", "I-Parties.BUYING_COMPANY", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O", "O" ]