Latham & Watkins

JOANN Receives Court Approval for Prepackaged Financial Recapitalization Plan

Retrieved on:

Giovedì, Aprile 25, 2024

Bankruptcy, Lazard, Security (finance), Corporate action, United States bankruptcy court, Interim, Creativity, Latham & Watkins

HUDSON, Ohio, April 25, 2024 (GLOBE NEWSWIRE) -- JOANN Inc. (“JOANN” or the “Company”), the nation’s category leader in sewing and fabrics with one of the largest arts and crafts offerings, today announced that the U.S. Bankruptcy Court for the District of Delaware has confirmed the Company’s Prepackaged Joint Plan of Reorganization.

Key Points:

HUDSON, Ohio, April 25, 2024 (GLOBE NEWSWIRE) -- JOANN Inc. (“JOANN” or the “Company”), the nation’s category leader in sewing and fabrics with one of the largest arts and crafts offerings, today announced that the U.S. Bankruptcy Court for the District of Delaware has confirmed the Company’s Prepackaged Joint Plan of Reorganization.
JOANN expects to successfully complete its financial restructuring and emerge from the court-supervised process in the coming days.
Latham & Watkins LLP is serving as legal counsel to JOANN, with Houlihan Lokey serving as financial advisor and Alvarez & Marsal North America, LLC serving as restructuring advisor.
Gibson Dunn & Crutcher LLP is serving as legal counsel to certain of the Company’s term lenders, with Lazard serving as financial advisor.

UL Standards & Engagement Announces Net Proceeds from UL Solutions Initial Public Offering

Retrieved on:

Martedì, Aprile 16, 2024

Sale, Prospectus, UL, Lazard, J.P. Morgan & Co., Safety, Broadridge Financial Solutions, Engagement, J. P. Morgan, Exercise, Science, Attention, Telephone, Latham & Watkins, Ill, Security (finance)

Evanston, Ill, April 16, 2024 (GLOBE NEWSWIRE) -- UL Standards & Engagement today announced it received $1.03 billion in net proceeds from its sale of shares of UL Solutions Inc. Class A common stock in the upsized initial public offering of 33,800,000 shares of UL Solutions Class A common stock at a public offering price of $28.00 per share, including the full exercise by the underwriters of their overallotment option to purchase an additional 5,070,000 shares from UL Standards & Engagement.

Key Points:

Evanston, Ill, April 16, 2024 (GLOBE NEWSWIRE) -- UL Standards & Engagement today announced it received $1.03 billion in net proceeds from its sale of shares of UL Solutions Inc. Class A common stock in the upsized initial public offering of 33,800,000 shares of UL Solutions Class A common stock at a public offering price of $28.00 per share, including the full exercise by the underwriters of their overallotment option to purchase an additional 5,070,000 shares from UL Standards & Engagement.
The offering closed on April 16, 2024, and UL Standards & Engagement sold 19.4% of its ownership interest in UL Solutions in the offering.
UL Standards & Engagement intends to use all of the net proceeds from the offering to further advance its charitable mission, including its standards development and public advocacy activities, and to support the safety science research activities of its affiliated nonprofit organization, UL Research Institutes.
ArentFox Schiff, Jones Day, Latham & Watkins, Morgan Lewis, and Skadden acted as legal counsel to UL Standards & Engagement in the offering.

Kaplan Educational Foundation Honors Danielle Conley and Harold Elish for Commitment to Equity and Opportunity

Retrieved on:

Mercoledì, Maggio 1, 2024

View the full release here: https://www.businesswire.com/news/home/20240501978493/en/

Key Points:

View the full release here: https://www.businesswire.com/news/home/20240501978493/en/
Kaplan Educational Foundation 2024 Leadership Award honorees Danielle Conley & Harold Elish (Photo: Business Wire)
Ms. Conley and Mr. Elish will accept the Leadership Awards at the Foundation’s annual benefit on May 15th in New York City.
The Award recognizes a demonstrated commitment to increasing opportunity and equity for individuals who have been overlooked and underserved, in education and beyond.
She has significant experience conducting sensitive internal investigations on issues pertaining to racial and gender equity.
Mr. Elish joined the Board of the Kaplan Educational Foundation in 2014, becoming the first person unaffiliated with Kaplan to serve.

Mint and Ultra: Welcome to the T-Mobile Family!

Retrieved on:

Mercoledì, Maggio 1, 2024

View the full release here: https://www.businesswire.com/news/home/20240501364824/en/

Key Points:

View the full release here: https://www.businesswire.com/news/home/20240501364824/en/
Mint and Ultra: Welcome to the T-Mobile Family!
Ryan Reynolds will continue in his creative role on behalf of Mint.
“In partnership with T-Mobile we have delivered the best value in wireless to our customers,” said David Glickman, Founder and CEO of Mint, Ultra and Plum.
Latham & Watkins LLP served as lead legal counsel and advisor with Bernstein Shur also serving as legal counsel for Ka’ena Corporation.

FirstSun Capital Bancorp and HomeStreet, Inc. Amend Merger Agreement

Retrieved on:

Martedì, Aprile 30, 2024

FirstSun and HomeStreet each believe that a Texas state bank charter is the appropriate charter for the combined company’s banking operations since Sunflower Bank is now headquartered in Dallas, Texas.

Key Points:

FirstSun and HomeStreet each believe that a Texas state bank charter is the appropriate charter for the combined company’s banking operations since Sunflower Bank is now headquartered in Dallas, Texas.
Under the amended merger agreement, the necessary bank regulatory approvals required to consummate the merger are the approval of the Federal Reserve Board and the Texas Department of Banking.
In conjunction with the amendment to the merger agreement, the parties’ previous application with the Office of the Comptroller of the Currency (“OCC”) in connection with the bank merger has been withdrawn.
The remaining equity capital of up to $155 million will be issued concurrently with, and subject to, closing of the merger.

Blaize Secures $106 Million in Funding, Further Solidifying Blaize’s Leadership Position in Edge AI Computing

Retrieved on:

Lunedì, Aprile 29, 2024

Blaize provides full-stack AI-enabled computing solutions across diverse and expanding markets, encompassing automotive, mobility, retail, security, industrial automation, healthcare and others.

Key Points:

Blaize provides full-stack AI-enabled computing solutions across diverse and expanding markets, encompassing automotive, mobility, retail, security, industrial automation, healthcare and others.
This efficient processor architecture is designed to address the inherent challenges of edge AI processing, providing high-performance computing with low power consumption, minimal latency and high efficiency.
Our current and next-generation offerings will deliver value across all AI applications, including computer vision, transformers, and multimodal Generative AI.
This funding will strengthen the company’s balance sheet and accelerate the Blaize roadmap of platforms and solutions for AI computing from the edge to the data center.

WeightWatchers Appoints New Executive Leaders

Retrieved on:

Giovedì, Aprile 11, 2024

Debra Benovitz joined WeightWatchers in 2014 as SVP of Global Consumer Insights to guide the WeightWatchers user experience across product and marketing with data-backed insights.

Key Points:

Debra Benovitz joined WeightWatchers in 2014 as SVP of Global Consumer Insights to guide the WeightWatchers user experience across product and marketing with data-backed insights.
She joined the Company’s leadership in 2015, and her role has become even more essential to guarantee all cross-functional touchpoints resonate with WeightWatchers members.
Her recent promotion to Chief Insights Officer expands her role to oversee all science and clinical research, including WeightWatchers #1 doctor recommended Points Program.
With more than 30 years of consumer insights experience, Debra has made significant contributions to WeightWatchers, delivering strategic consumer insights that drive business growth.

Godspeed Capital-Backed Infrastructure Consulting & Engineering Announces Strategic Partnership with IDCUS Inc.

Retrieved on:

Mercoledì, Aprile 24, 2024

Godspeed Capital Management LP (“Godspeed”), a lower middle market Defense & Government services, solutions, and technology focused private equity firm, today announced the acquisition of IDCUS Inc. (“IDCUS”) under ICE USA, its transportation-focused engineering and consulting services and solutions platform holding company.

Key Points:

Godspeed Capital Management LP (“Godspeed”), a lower middle market Defense & Government services, solutions, and technology focused private equity firm, today announced the acquisition of IDCUS Inc. (“IDCUS”) under ICE USA, its transportation-focused engineering and consulting services and solutions platform holding company.
The transaction marks the first addition to Godspeed’s expanding ICE USA platform and deepens its planning, civil engineering, and construction management capabilities for public works and transportation agency customers within the highly attractive Texas market.
The addition of IDCUS brings nearly 90 highly-skilled engineers and consultants to the ICE USA platform, including its tenured leadership team which will remain with IDCUS following the transaction and continue to lead the business.
IDCUS will operate side-by-side with Infrastructure Consulting & Engineering (“ICE”), Godspeed’s inception platform investment, under the ICE USA platform.

EIG’s MidOcean Energy Completes Acquisition of 20 Percent Stake in Peru LNG

Retrieved on:

Martedì, Aprile 23, 2024

Energy, Other Energy, Utilities, Oil, Gas, Natural gas, Morgan Stanley, Hunt Oil Company, Mitsubishi Corporation, Partnership, EIG, Acquisition, MidOcean Partners, Latham & Watkins

MidOcean Energy (“MidOcean” or the “Company”), a liquefied natural gas (LNG) company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced the completion of its previously announced agreement to acquire SK earthon’s (“SK”) 20 percent interest in Peru LNG (“PLNG”), owner and operator of the first LNG export facility in South America.

Key Points:

MidOcean Energy (“MidOcean” or the “Company”), a liquefied natural gas (LNG) company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced the completion of its previously announced agreement to acquire SK earthon’s (“SK”) 20 percent interest in Peru LNG (“PLNG”), owner and operator of the first LNG export facility in South America.
PLNG, operated by Hunt Oil Company, is one of only two LNG production facilities in Latin America, located in Pampa Melchorita, 170km south of Lima.
As the only LNG export facility in South America, PLNG is uniquely positioned in the global marketplace.
PLNG also plays an important role in providing gas and LNG to customers in Peru.

KKR and Impilo Announce Strategic Partnership Together With Management in Rare Disease Platform Immedica Pharma

Retrieved on:

Martedì, Aprile 23, 2024

Existing owner, Nordic healthcare investment firm Impilo, will reinvest to become an equal owner alongside KKR.

Key Points:

Existing owner, Nordic healthcare investment firm Impilo, will reinvest to become an equal owner alongside KKR.
Immedica Pharma was established in 2018 by Impilo and an experienced management team with a strong track record in launching and commercializing orphan drugs across Europe.
We are deeply impressed by the accomplishments of Immedica under Impilo’s ownership and the establishment of a rare disease player with a highly promising pipeline.
“I am excited to continue our partnership with Impilo and welcome KKR as a new strategic partner for the next step in Immedica’s journey,” said Anders Edvell, CEO of Immedica.