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Maritime Launch Services Announces Extension of Convertible Debentures

Retrieved on:

Mercredi, mai 8, 2024

Air, Technology, Satellite, Transport, Aerospace, Manufacturing, CDN, PIK, OTCQB, Security (finance)

Maritime Launch Services Inc. (Cboe CA: MAXQ, OTCQB: MAXQF) (the “Company”) has reached an agreement in principal with the holders of its outstanding convertible debentures dated May 7, 2021 (as amended) to extend the maturity date from May 7, 2024, to December 7, 2024.

Key Points:

Maritime Launch Services Inc. (Cboe CA: MAXQ, OTCQB: MAXQF) (the “Company”) has reached an agreement in principal with the holders of its outstanding convertible debentures dated May 7, 2021 (as amended) to extend the maturity date from May 7, 2024, to December 7, 2024.
In exchange for the extension, the Company will be repaying CDN $100,000 in principal face value of the debentures as well as issuing 2,250,000 common shares in settlement of an extension fee.
On May 7, 2021 the Company issued unsecured convertible debentures for gross proceeds of CDN$ 7,500,000 bearing interest at a rate of 4% with a maturity date of May 7, 2022.
The interest rate on the debentures was increased from 4% to 9% and the maturity date extended to May 7, 2024.

Lincoln Private Market Index Continued to Climb in the First Quarter on the Back of Steady Earnings Growth

Retrieved on:

Mardi, mai 7, 2024

For the 12th consecutive quarter, the index’s growth was primarily driven by positive financial performance rather than multiple expansion.

Key Points:

For the 12th consecutive quarter, the index’s growth was primarily driven by positive financial performance rather than multiple expansion.
For the fourth consecutive quarter, the percentage of companies achieving LTM EBITDA growth increased, with 63.0% of companies tracked by Lincoln demonstrating EBITDA growth in the first quarter.
Two-thirds of private market participants surveyed by Lincoln International in Q1 2024 indicated an expectation that private company M&A activity would resume in the next six months.
Notably, the Lincoln Senior Debt Index (LSDI) increased to 98.4% from 97.9% at the end of 2023 reflecting these trends.

EQS-News: Douglas AG announces satisfaction of transaction conditions

Retrieved on:

Vendredi, mai 3, 2024

KIRK, Douglas (cosmetics), PIK, EUR, SUN, Senior, ANY, AN, Note

THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF DOUGLAS AG, KIRK BEAUTY SUN GMBH OR DOUGLAS SERVICE GMBH.

Key Points:

THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF DOUGLAS AG, KIRK BEAUTY SUN GMBH OR DOUGLAS SERVICE GMBH.
Düsseldorf, 15 April 2024 – The DOUGLAS Group announced today the satisfaction of all Transaction Conditions stated in the notices of redemption issued on April 5, 2024, to holders of (i) the 6.000% Senior Secured Notes due 2026 issued by Douglas Service GmbH (formerly Douglas GmbH) (the “2026 Notes”) and (ii) the 8.250% (Cash Interest) / 9.000% (PIK Interest) Senior PIK Notes due 2026 issued by Kirk Beauty SUN GmbH (the “PIK Notes” and, together with the 2026 Notes, the “Notes”) (the “Notices of Redemption”).
On March 25, 2024, the initial public offering of capital stock of Douglas AG was completed.
With the drawing of funds under the EUR 1,600 million term and revolving facilities agreement today, the Transaction Conditions as set out in the Notices of Redemption have been satisfied and the redemption of the Notes will proceed as previously described in such notices.

EQS-News: Adler Group with robust operational performance in 2023

Retrieved on:

Vendredi, mai 3, 2024

CFO, GAV, Devaluation, FY, PIK, Webcast, FFO, Environment, EPRA, Bank statement

By year-end 2023, the rental portfolio amounted to 25,043 units, of which 17,738 units are in the Berlin area.

Key Points:

By year-end 2023, the rental portfolio amounted to 25,043 units, of which 17,738 units are in the Berlin area.
The FY 2023 results reflect Adler Group’s successful disposals of portfolio assets, in order to generate liquidity, cover financial maturities and to reposition the portfolio.
Commenting the financial performance, Thomas Echelmeyer, CFO of Adler Group, said: “We successfully addressed all our financial obligations due in 2023, secured new financing in a challenging environment and ensured sufficient liquidity.” In the fourth quarter 2023, Adler Group placed €191m of 1.5 lien notes with annual PIK interest amount of 21% due end July 2025.
Referring to the outlook for 2024, Thierry Beaudemoulin explained: “2024 has started with a robust operational performance again.

Mondee Reports Preliminary Unaudited Q4 & FY 2023 Results

Retrieved on:

Jeudi, mars 14, 2024

Travel, Artificial intelligence, Acquisition, AI, Adjustment, Investment, Geography, LBF, PIK, Pharmaceutical industry

AUSTIN, Texas, March 14, 2024 (GLOBE NEWSWIRE) -- Mondee Holdings, Inc. (Nasdaq: MOND) (“Mondee” or the “Company”), a leading travel marketplace and artificial intelligence (AI) technology company, today announced preliminary unaudited financial results for the three-month period and full-year ended December 31, 2023.

Key Points:

“Mondee is pleased to report record net revenues and Adjusted EBITDA in Q4 and full year 2023 ("FY 23"), exceeding guidance.
“Mondee's record financial performance continues, with gross bookings increasing by 24% in Q4 2023.
FY 23 net revenue of $222.3 million grew 39% compared to FY 22 and exceeded guidance of $217 million.
FY 23 operating cash flow was $(24.0) million versus FY 22's $(10.6) million.

KIDPIK INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Merger of Kidpik Corp. - PIK

Retrieved on:

Vendredi, avril 5, 2024

Class Action Lawsuit, Professional Services, Legal, KSF, Sale, PIK

and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed merger of Kidpik Corp. (the “Company”) (NasdaqCM: PIK) and Nina Footwear Corp.

Key Points:

and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed merger of Kidpik Corp. (the “Company”) (NasdaqCM: PIK) and Nina Footwear Corp.
Upon completion of the proposed transaction, Nina’s stockholders will own 80% of Kidpik’s outstanding common stock.
KSF is seeking to determine whether the merger and the process that led to it are adequate, or whether the merger undervalues the Company.
To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com .

PIK Stock Alert: Halper Sadeh LLC Is Investigating Whether the Merger of Kidpik Corp. Is Fair to Shareholders

Retrieved on:

Mardi, avril 2, 2024

Class Action Lawsuit, Professional Services, Legal, Advertising, PIK, Fraud

Halper Sadeh LLC, an investor rights law firm, is investigating whether the merger of Kidpik Corp. (NASDAQ: PIK) and Nina Footwear Corp. is fair to Kidpik shareholders.

Key Points:

Halper Sadeh LLC, an investor rights law firm, is investigating whether the merger of Kidpik Corp. (NASDAQ: PIK) and Nina Footwear Corp. is fair to Kidpik shareholders.
Upon closing of the proposed transaction, Nina’s stockholders will own 80% of Kidpik’s outstanding common stock.
On behalf of Kidpik shareholders, Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.
Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct.

Kidpik and Nina Footwear Announce Entry Into Definitive Merger Agreement

Retrieved on:

Lundi, avril 1, 2024

Retail, Footwear, Online Retail, Fashion, Growth, NOL, Shoe, PIK, Dogcart, Mining

Kidpik Corp. (NASDAQ: PIK) (“Kidpik”), a kids’ online clothing subscription-based e-commerce company, and Nina Footwear Corp., a private company operating a brand specializing in women’s and kids’ dress shoes and accessories for special occasions (“Nina Footwear”), today announced that they have entered into a definitive merger agreement.

Key Points:

Kidpik Corp. (NASDAQ: PIK) (“Kidpik”), a kids’ online clothing subscription-based e-commerce company, and Nina Footwear Corp., a private company operating a brand specializing in women’s and kids’ dress shoes and accessories for special occasions (“Nina Footwear”), today announced that they have entered into a definitive merger agreement.
In connection with the merger, Nina Footwear stockholders will be issued shares of common stock of Kidpik such that upon closing thereof, Nina Footwear’s stockholders will own 80% of Kidpik’s outstanding common stock.
Kidpik is controlled by Mr. Ezra Dabah, the Chief Executive Officer, Chairman, and majority stockholder (67% beneficial owner) of Kidpik, who is also the Chief Executive Officer of Nina Footwear.
Mr. Dabah and his children own approximately 79.3% of Nina Footwear, and Mr. Dabah and his extended family own 100% of Nina Footwear.

KBRA Releases Research – Fourth-Quarter 2023 Business Development Company (BDC) Ratings Compendium

Retrieved on:

Jeudi, mars 28, 2024

Banking, Professional Services, Insurance, Finance, CLO, Pressure, SPV, Environment, FV, PIK, KBRA, BDC, Compendium, NII, Quarter, Growth, Federal, Bank

KBRA releases its Business Development Company Ratings Compendium, which looks at results for the quarter ended December 31, 2023, and offers a review of perpetual continuously offered non-traded BDCs as well as recent industry developments.

Key Points:

KBRA releases its Business Development Company Ratings Compendium, which looks at results for the quarter ended December 31, 2023, and offers a review of perpetual continuously offered non-traded BDCs as well as recent industry developments.
The performance of KBRA-rated BDCs remained stable in 4Q23 with solid credit metrics, including comfortable liquidity considering near-term maturities, low non-accruals, and appropriate leverage overall.
KBRA will be monitoring BDC’s non-accrual rates and other signs of portfolio stress, as most underlying borrowers only began to experience the full impact of rate hikes in late 2023.
Growth was targeted toward perpetual-life BDCs that raised mostly retail capital and newly formed BDCs that raised significant institutional capital in 2023.

Li-Cycle Closes $75 Million Strategic Investment from Glencore

Retrieved on:

Lundi, mars 25, 2024

Natural Resources, Batteries, Environment, Alternative Energy, Energy, Technology, Green Technology, Mining, Minerals, Form 8-K, Partnership, Form, Indian stock exchange, Nickel, LON, Note, Cobalt, PIK, Security (finance)

Ajay Kochhar, Li-Cycle co-founder and CEO, commented: “We are pleased to close the $75 million investment from Glencore, which enhances our liquidity position and is a key interim step in our funding strategy.

Key Points:

Ajay Kochhar, Li-Cycle co-founder and CEO, commented: “We are pleased to close the $75 million investment from Glencore, which enhances our liquidity position and is a key interim step in our funding strategy.
As we continue our comprehensive review process, we look forward to expanding our existing long-term, strategic partnership with Glencore and are excited about the future opportunities for Li-Cycle.
We remain focused on our key priorities of driving down costs through our cash preservation plan, reviewing our go-forward strategy for the paused Rochester Hub, and evaluating additional financing and strategic alternatives.
The aggregate amount outstanding under the Existing Glencore Notes is currently approximately $225 million.