CFIUS

GAN Reports First Quarter 2024 Financial Results

Retrieved on: 
Donnerstag, Mai 9, 2024
Internet, General Entertainment, Technology, Entertainment, Software, GAN, Total, Foreign investment, Sport, Content, B2C, Acquisition, Committee, European, CFIUS, Marketing

GAN Limited (NASDAQ: GAN) (the “Company” or “GAN”), a leading North American B2B technology provider of real money internet gaming solutions and a leading International B2C operator of Internet sports betting, today reported its unaudited financial results for the first quarter ended March 31, 2024.

Key Points: 
  • GAN Limited (NASDAQ: GAN) (the “Company” or “GAN”), a leading North American B2B technology provider of real money internet gaming solutions and a leading International B2C operator of Internet sports betting, today reported its unaudited financial results for the first quarter ended March 31, 2024.
  • We continue to expect the transaction to close in late 2024 or early 2025."
  • Cash was $36.6 million as of March 31, 2024, versus $38.6 million as of December 31, 2023.
  • B2B Gross Operator Revenue (“GOR”) totaled $632.0 million versus $422.8 million in the prior year quarter, a 49% increase.

Identiv Reports First Quarter 2024 Financial Results

Retrieved on: 
Mittwoch, Mai 8, 2024
Software, Networks, Internet, Audio, Video, Data Management, Technology, IOT (Internet of Things), Security, Online, APA, Sale, Federal Trade Commission, Internet of things, FIDO, EDT, Michigan State University, RFID, Foreign investment, Premises, PDT, Research, Growth, Committee, Marketing, GAAP, Health, HSR, CFIUS, Cryptocurrency

Identiv, Inc. (NASDAQ: INVE), a global digital security and identification leader in the Internet of Things (IoT), today released its financial results for the first quarter ended March 31, 2024.

Key Points: 
  • Identiv, Inc. (NASDAQ: INVE), a global digital security and identification leader in the Internet of Things (IoT), today released its financial results for the first quarter ended March 31, 2024.
  • Revenue for the first quarter 2024 was $22.5 million, compared to $29.0 million in the prior quarter and $26.0 million in the first quarter of 2023.
  • Non-GAAP operating expenses were $10.4 million in the first quarter of 2024, compared to $9.8 million in the prior quarter and $10.6 million in the first quarter of 2023.
  • Identiv management will hold a conference call today, May 8, 2024, at 5:00 p.m. EDT (2:00 p.m. PDT) to discuss the company’s first quarter 2024 financial results.

CSG Sends Letter to Senator J.D. Vance Addressing His Concerns Regarding Planned Acquisition of Vista Outdoor’s Sporting Products Business, The Kinetic Group

Retrieved on: 
Dienstag, April 16, 2024
Contracts, Defense, Military, Kinetic Group, Vista Outdoor, General Dynamics Land Systems, Sale, Army, CSG, Treasury, Raytheon Technologies, Nonsense, History, Vladimir Putin, General Dynamics, Acquisition, Afghan Army, Mining, Government, Czechoslovak Group, Letter, FMG, CFIUS, Arms industry

Vance (R-OH) addressing concerns he raised in a letter to U.S. Treasury Secretary Janet Yellen in connection to CSG’s proposed acquisition of Vista Outdoor Inc.’s (NYSE: VSTO) (“Vista Outdoor”) Sporting Products business – recently renamed The Kinetic Group.

Key Points: 
  • Vance (R-OH) addressing concerns he raised in a letter to U.S. Treasury Secretary Janet Yellen in connection to CSG’s proposed acquisition of Vista Outdoor Inc.’s (NYSE: VSTO) (“Vista Outdoor”) Sporting Products business – recently renamed The Kinetic Group.
  • The full text of the letter can be found below:
    In January, you sent a letter to Treasury Secretary Janet Yellen expressing your concerns about the proposed sale of The Kinetic Group, formerly Vista Outdoor’s Sporting Products business, to our company, The Czechoslovak Group (“CSG”).
  • In your letter, you claimed that CSG is a company with a long record of wrongdoing and well-documented connections to American adversaries.
  • That's why we invite you to visit CSG member companies in the U.S. and Europe to experience first-hand who we really are.

Satellogic Announces $30 Million Strategic Investment from Tether Investments Limited

Retrieved on: 
Montag, April 15, 2024
Professional Services, Data Management, Data Analytics, Satellite, Technology, Aerospace, Manufacturing, Tether, National security, Sale, CFO, Offering, Convertible, Insurance, Acquisition, Data collection, Put, CFIUS, Security (finance)

The net proceeds from the Offering, after deducting transaction fees and other debt issuance costs, were approximately $27.6 million.

Key Points: 
  • The net proceeds from the Offering, after deducting transaction fees and other debt issuance costs, were approximately $27.6 million.
  • The Borrower has the ability to issue additional Secured Convertible Notes, provided the aggregate principal amount outstanding does not exceed $50 million.
  • “The proceeds from Tether’s investment in Satellogic will help advance our mission as we continue to focus on our U.S. strategy, the National Security market, and our global Space Systems opportunities,” said Emiliano Kargieman, CEO & Founder of Satellogic.
  • “This new facility will provide necessary funding as we look to continue expanding in 2024,” added Rick Dunn, CFO of Satellogic.

Identiv Welcomes Kirsten Newquist as President, IoT Solutions

Retrieved on: 
Montag, April 15, 2024
Technology, Mobile, Wireless, Retail, Audio, Video, Health, Pharmaceutical, Luxury, IOT (Internet of Things), Medical Devices, Wine & Spirits, Networks, Health Technology, Hardware, Security, Federal Trade Commission, Internet of things, Avery Dennison, Wine, Foreign investment, SimEx-Iwerks, Act, Growth, Patient safety, Committee, Marketing, HSR, CFIUS, Management

Identiv, Inc. (NASDAQ: INVE), a global digital security and identification leader in the Internet of Things (IoT), today announced that Kirsten Newquist, a proven corporate leader with nearly 30 years’ experience in building successful businesses, has joined the company as President, IoT Solutions.

Key Points: 
  • Identiv, Inc. (NASDAQ: INVE), a global digital security and identification leader in the Internet of Things (IoT), today announced that Kirsten Newquist, a proven corporate leader with nearly 30 years’ experience in building successful businesses, has joined the company as President, IoT Solutions.
  • Ms. Newquist will assume the role of CEO of Identiv upon closing of the company’s recently announced transaction with security solutions provider Vitaprotech.
  • “I am tremendously excited to be joining Identiv’s executive team at this critical juncture in the company’s history,” said Kirsten Newquist, President, IoT Solutions at Identiv.
  • “Identiv has a unique and compelling opportunity to expand its early leadership position within the specialty IoT market.

The Czechoslovak Group Highlights the Benefits of Its Planned Acquisition of Vista Outdoor’s Sporting Products Business, The Kinetic Group

Retrieved on: 
Montag, April 8, 2024
Defense, Aerospace, Manufacturing, Military, Government Technology, Other Defense, Contracts, Kinetic, Firearm, Vista Outdoor, Growth, CFIUS, Czechoslovak Group, JPMorgan Chase, Committee, Acquisition, CCI, Foreign investment, Kinetic Group, Fiocchi Munizioni, Plant, CSG, Hart–Scott–Rodino Antitrust Improvements Act, Federal, Federal Trade Commission

CSG also highlighted the benefits of its planned Acquisition:

Key Points: 
  • CSG also highlighted the benefits of its planned Acquisition:
    “CSG is a leading industrial technology company operating across strategic business segments including defense, aerospace, ammunition and mobility.
  • We look forward to successfully closing the Acquisition of The Kinetic Group and becoming the steward of such venerable American brands as Federal, CCI and Remington.
  • CSG understands the special importance to American consumers of the brands that are part of The Kinetic Group.
  • Working alongside Vista Outdoor, we are actively engaged in the process and believe we will secure all required approvals.

Identiv Announces Asset Purchase Agreement with Security Solutions Provider Vitaprotech for $145 Million

Retrieved on: 
Mittwoch, April 3, 2024
Security, IOT (Internet of Things), Apps, Applications, Technology, Software, Internet, RFID, Avery Dennison, PDT, CFIUS, Data science, Internet of things, Physician, Patient, Committee, EDT, Sale, LLP, Foreign investment, Pillsbury Winthrop Shaw Pittman, Marketing, HSR, Federal Trade Commission, Capital Group Companies, Management

Identiv, Inc. (NASDAQ: INVE), a global digital security and identification leader in the Internet of Things (IoT), has entered into a definitive asset purchase agreement to sell its physical security, access card, and identity reader operations and assets to Vitaprotech, a security solutions provider.

Key Points: 
  • Identiv, Inc. (NASDAQ: INVE), a global digital security and identification leader in the Internet of Things (IoT), has entered into a definitive asset purchase agreement to sell its physical security, access card, and identity reader operations and assets to Vitaprotech, a security solutions provider.
  • Under the terms of the agreement, Identiv will receive a cash payment of $145 million upon closing of the transaction, subject to customary adjustments.
  • “Our globally recognized security business naturally aligns with Vitaprotech’s strategy and vision for the market, creating a world leader in enterprise security.
  • Upon closing, certain senior executives will join Vitaprotech, including Identiv CEO Steven Humphreys, at which time incoming President Kirsten Newquist will assume the role of CEO of Identiv.

CFIUS Accepts Re-filed Notice for Proposed Sale of The Kinetic Group to CSG

Retrieved on: 
Donnerstag, März 28, 2024
Other Manufacturing, Other Sports, General Sports, Sports, Other Retail, Specialty, Manufacturing, Retail, Online Retail, CFIUS, Committee, Acquisition, Foreign investment, Kinetic Group, CSG, Transaction

Vista Outdoor Inc. (“Vista Outdoor”, “we”, “us” or “our”) (NYSE: VSTO) and Czechoslovak Group a.s. (“CSG”) announced today that they have voluntarily withdrawn and re-filed their joint voluntary notice to the Committee on Foreign Investment in the United States (“CFIUS”) to allow CFIUS additional time to conduct diligence on the proposed acquisition by CSG of Vista Outdoor’s The Kinetic Group business (the “Transaction”).

Key Points: 
  • Vista Outdoor Inc. (“Vista Outdoor”, “we”, “us” or “our”) (NYSE: VSTO) and Czechoslovak Group a.s. (“CSG”) announced today that they have voluntarily withdrawn and re-filed their joint voluntary notice to the Committee on Foreign Investment in the United States (“CFIUS”) to allow CFIUS additional time to conduct diligence on the proposed acquisition by CSG of Vista Outdoor’s The Kinetic Group business (the “Transaction”).
  • CFIUS’s acceptance of the re-filed joint voluntary notice has commenced a new review period.
  • As part of its review process, CFIUS can permit parties to voluntarily withdraw and re-file to enable a complete and thorough review by CFIUS.
  • We’re pleased CFIUS accepted our re-filed notice, which will allow the work to continue.

MNC Capital Increases Proposal to Acquire Vista Outdoor to $37.50 Per Share

Retrieved on: 
Montag, März 25, 2024
Finance, Outdoors, Sports, Professional Services, General Sports, MNC, Vista Outdoor, Letter, CFIUS, Kinetic Group

MNC Capital Partners, L.P. (“MNC”) today announced that it has submitted an increased all-cash proposal to acquire Vista Outdoor, Inc. (NYSE: VSTO) (“Vista” or the “Company”) for $37.50 per share, or approximately $3.0 billion.

Key Points: 
  • MNC Capital Partners, L.P. (“MNC”) today announced that it has submitted an increased all-cash proposal to acquire Vista Outdoor, Inc. (NYSE: VSTO) (“Vista” or the “Company”) for $37.50 per share, or approximately $3.0 billion.
  • Vista’s shares were trading below $30.00 per share when MNC made its initial proposal on February 19, 2024.
  • MNC has provided the details of its financing to Vista, as well as all other information that Vista requested in its March 4, 2024 letter.
  • MNC expects Vista to promptly engage and agree to MNC’s proposal, which is clearly in the best interest of Vista’s shareholders and employees.

Vista Outdoor Clears Key Milestone in Sale of The Kinetic Group to CSG and the Separation of Revelyst into a Standalone Public Company

Retrieved on: 
Freitag, März 22, 2024
Other Manufacturing, Other Consumer, Sports, Hunting, Other Retail, Manufacturing, Fishing, Consumer, Retail, Outdoors, Kinetic, Vista Outdoor, CFIUS, Form, Carolina Christian College, Committee, Sale, Acquisition, Foreign investment, Kinetic Group, Plant, CSG, Special, Central Time, Transaction, British, Register

The announcement is a key achievement in Vista Outdoor’s strategic plan to unlock value by separating its Revelyst and The Kinetic Group segments into separate companies.

Key Points: 
  • The announcement is a key achievement in Vista Outdoor’s strategic plan to unlock value by separating its Revelyst and The Kinetic Group segments into separate companies.
  • “We are excited to reach this important milestone as we position The Kinetic Group and Revelyst for long-term success,” said Michael Callahan, Chairman of the Vista Outdoor Board of Directors.
  • “We believe the proposed sale provides is the best strategic alternative to maximize value for stockholders.
  • As we look ahead to Revelyst being a standalone company post-separation, our brand-led consumer obsessed and maker-fueled culture is coming into shape.