Deleveraging

Northview Fund announces recapitalization transaction including the acquisition of three portfolios for $742 million and its intention to transform into Northview Residential REIT, a $2.7 billion, internally managed, traditional open-ended real estate inv

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월요일, 6월 12, 2023
NT, Class, NU, Balance sheet, Acquisition, Transaction, Capital, Vii, Toronto Stock Exchange, Starlight Investments, Institutional Investor, General counsel, REIT, Deleveraging, Amendment, Significance, Starlight, TSX, Million Pound Menu, Iqaluit, Liquidity, Trustee, Operation, Partnership, Class v. United States, HY, Sale, Real estate investment trust, Date, Institution, Investment fund, Security (finance), Real estate, Trust, Fund, Mergers and acquisitions

CALGARY, Alberta and TORONTO, June 12, 2023 (GLOBE NEWSWIRE) -- Northview Fund (“Northview” or the “Fund”) (TSX: NHF.UN) today announced the creation of Canada’s only predominantly residential real estate investment trust with exposure to nine provinces and two territories. The Fund has entered into purchase and sale agreements (the “Purchase Agreements”) for the purchase of three multi-family portfolios for an aggregate purchase price of approximately $742 million. The first Purchase Agreement is for a Canadian portfolio with properties in Alberta, Ontario, Nova Scotia, and Québec that will be purchased from Galaxy Value Add Fund LP, an affiliate of Starlight Investments (“Starlight”) and certain funds managed by KingSett Capital (“KingSett”) (the “AB/ON/NS/QB Transaction”); the second Purchase Agreement is for the purchase of four properties from D.D. Acquisitions Partnership (the “Starlight Transaction”); and the third Purchase Agreement is for the purchase of a portfolio of properties in Winnipeg, Manitoba that will be purchased from two global, institutional investors (the “Winnipeg Transaction” and, together with the AB/ON/NS/QB Transaction and the Starlight Transaction, the “Acquisitions”).

Key Points: 
  • The Fund has entered into purchase and sale agreements (the “Purchase Agreements”) for the purchase of three multi-family portfolios for an aggregate purchase price of approximately $742 million.
  • As part of the Transaction, the Fund will internalize management at no cost and change its name to “Northview Residential REIT” (the “REIT”).
  • The REIT is also expected to benefit from an increased proportion of fixed rate debt, rising from approximately 67% to approximately 71%.
  • The Amendments to the Declaration of Trust have been proposed in order to convert Northview into a more traditional real estate investment trust.

Express, Inc. (EXPR) Reports First Quarter 2023 Results and Completes Acquisition of Bonobos in Partnership With WHP Global

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수요일, 5월 24, 2023
Textiles, Teens, Women, Men, Manufacturing, Fashion, Generation Z, Consumer, Retail, Online Retail, Partnership, Capital expenditure, SG, Comparable, Baxter, Tax, E-commerce, Deleveraging, Real estate, Express, EBITDA, WHP, Acquisition, Schedule 5, Capital, Acceleration, Depreciation, Growth, NYSE, Video game, Cryptocurrency, Life insurance, Pharmaceutical industry, Reinsurance, Bank, Hunting, Bonobo

"We also announced today that we have completed the joint acquisition of Bonobos with our strategic partner WHP Global.

Key Points: 
  • "We also announced today that we have completed the joint acquisition of Bonobos with our strategic partner WHP Global.
  • On May 23, 2023, EXPR and WHP Global completed their joint acquisition of Bonobos from Walmart Inc. for a combined purchase price of $75 million.
  • A conference call to discuss first quarter 2023 results is scheduled for May 24, 2023 at 8:00 a.m. Eastern Time (ET).
  • In addition, an investor presentation of first quarter 2023 results will be available at www.express.com/investor at approximately 7:00 a.m.

Luis de Guindos: Towards a stronger non-bank financial sector

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토요일, 5월 27, 2023
Well, Gaps, Insurance, Industry, Jeanne Tripier, Financial Stability Oversight Council, Financial Stability Board, Journal, Risk, CMU, Policy, Christian Social Union (UK), Market, Association for Financial Markets in Europe, Eurozone, Grimm, Trustee, Deleveraging, Official Monetary and Financial Institutions Forum, Frankfurt, ECB, Archegos Capital Management, LDI, MMF, Growth, Reproduction, Conference, Official, Bank, European Central Bank, Communication, Finance, Government, US, Association, Regulation, Adoption, European Economic Review, European Financial Stability Facility, U, State, C, United Kingdom, Speech, Financial services, Cryptocurrency, Tourism, Security (finance), Audit, Renewable energy, Management, Medical device, EU, Eurosystem
Key Points: 

Boot Barn Holdings, Inc. Announces Fourth Quarter and Fiscal Year 2023 Financial Results

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수요일, 5월 17, 2023
Women, Footwear, Men, Children, Online Retail, Consumer, Fashion, Retail, Growth, NYSE, Deleveraging, Marketing, Video game, Pharmaceutical industry, Security (finance), Grocery store, Recycling, Life insurance, Music

Boot Barn Holdings, Inc. (NYSE: BOOT) today announced its financial results for the fourth fiscal quarter and fiscal year ended April 1, 2023.

Key Points: 
  • Boot Barn Holdings, Inc. (NYSE: BOOT) today announced its financial results for the fourth fiscal quarter and fiscal year ended April 1, 2023.
  • Same store sales decreased 0.1% compared to the prior fiscal year, cycling 53.7% same store sales growth in the prior fiscal year.
  • Excluding the tax benefit in both years, net income per diluted share in fiscal 2023 was $5.57, compared to $6.16 in fiscal 2022.
  • Excluding the tax benefits, net income per diluted share in fiscal 2023 was $5.57, compared to $6.16 in fiscal 2022.

The Container Store Group, Inc. Announces Fourth Quarter and Full Fiscal Year 2022 Financial Results

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화요일, 5월 16, 2023
Office Products, Home Goods, Other Retail, Retail, Specialty, Borrowing base, Pressure, ASC, Elfa International, Senior, The Container Store, Comparable, Deleveraging, TCS, EBITDA, Investment, Growth, Container, NYSE, Cryptocurrency, Video game, Music, Security (finance), Coal

Consolidated depreciation and amortization increased 17.1% to $10.4 million in the fourth quarter of fiscal 2022 from $8.9 million in the fourth quarter of fiscal 2021.

Key Points: 
  • Consolidated depreciation and amortization increased 17.1% to $10.4 million in the fourth quarter of fiscal 2022 from $8.9 million in the fourth quarter of fiscal 2021.
  • Consolidated net interest expense increased 50.4% to $4.8 million in the fourth quarter of fiscal 2022 from $3.2 million in the fourth quarter of fiscal 2021.
  • The effective tax rate was -1.7% in the fourth quarter of fiscal 2022, as compared to 31.5% in the fourth quarter of fiscal 2021.
  • Adjusted EBITDA* was $29.2 million in the fourth quarter of fiscal 2022 compared to $46.4 million in the fourth quarter of fiscal 2021.

CI Financial Announces pre-IPO Minority Investment in its U.S. Wealth Management Business from Leading Global Institutional Investors

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목요일, 5월 11, 2023
Banking, Asset Management, Professional Services, Finance, Slate, LLP, IPO, CIX, CI, Stikeman Elliott, State of Wisconsin Investment Board, Deleveraging, Sale, Ares Management, RBC Capital Markets, ADIA, Skadden, Arps, Slate, Meagher & Flom, TSX, Growth, Abu Dhabi Investment Authority, Security (finance)

(“CI”) (TSX: CIX) announced today that it has agreed to sell a 20% minority investment in its U.S. wealth management business (“CI US”) to a diversified group of leading institutional investors, including a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), Bain Capital, Flexpoint Ford, Ares Management funds, the State of Wisconsin, and others (collectively, the “Investors”).

Key Points: 
  • (“CI”) (TSX: CIX) announced today that it has agreed to sell a 20% minority investment in its U.S. wealth management business (“CI US”) to a diversified group of leading institutional investors, including a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), Bain Capital, Flexpoint Ford, Ares Management funds, the State of Wisconsin, and others (collectively, the “Investors”).
  • The approximately $1.34 billion (US$1.0 billion) investment is being made at a $7.1 billion enterprise value for CI US, representing 25.6x Q1’23 annualized Adjusted EBITDA of CI US1.
  • At the closing of the investment, CI will hold 80% of CI US with the Investors holding the remaining 20%.
  • Following the announcement of the submission of our IPO registration statement with respect to the U.S. business, we received significant inbound interest from leading institutional investors.

CommScope Reports First Quarter 2023 Results

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목요일, 5월 4, 2023
Data Management, Technology, Telecommunications, Mobile, Wireless, Networks, Internet, Hardware, NICS, CommScope, Kratos Defense & Security Solutions, Table, Deleveraging, EBITDA, OWN, Connectivity, CCS, Growth, Silicon, ANS, Real estate, Bank, Renewable energy, Network, Core

“CommScope delivered Core net sales of $1.66 billion and Core adjusted EBITDA of $315 million for the first quarter of 2023.

Key Points: 
  • “CommScope delivered Core net sales of $1.66 billion and Core adjusted EBITDA of $315 million for the first quarter of 2023.
  • This has negatively impacted the Company's net sales for the first quarter of 2023 and may continue to negatively impact net sales further into 2023.
  • CommScope also proactively implemented cost savings initiatives that have favorably impacted its profitability in the first quarter of 2023.
  • Core segment adjusted EBITDA increased 37.1% to $315.3 million in the first quarter of 2023 compared to the same prior year period.

Spark Networks Reports Fourth Quarter and Full Year 2022 Results

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목요일, 3월 30, 2023
International, Spark, Spark Networks, GAAP, Net operating loss, Deleveraging, EBITDA, Acquisition, ROI, Zoosk, Cryptocurrency, Video game, Bookkeeping, JDate, Adjustment

BERLIN, March 30, 2023 /PRNewswire/ -- Spark Networks SE (NASDAQ: LOV) ("the Company"), a leading social dating platform for meaningful relationships, today reported financial results for its fourth quarter and full year ended December 31, 2022.

Key Points: 
  • BERLIN, March 30, 2023 /PRNewswire/ -- Spark Networks SE (NASDAQ: LOV) ("the Company"), a leading social dating platform for meaningful relationships, today reported financial results for its fourth quarter and full year ended December 31, 2022.
  • Chelsea Grayson, CEO of Spark Networks, said, "I am pleased to announce that I have accepted the board's request to serve as Spark's permanent CEO.
  • On a constant currency basis,(1) revenue would have been $43.7 million in the fourth quarter of 2022.
  • To access the live call, dial 1-888-349-0106 (US and Canada) or +1 412-902-0131 (International) and ask to join the Spark Networks' call.

Stronghold Digital Mining Reports Fourth Quarter and Full Year 2022 Results and Provides Operational Update

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수요일, 3월 29, 2023
Celsius Network, Miner, Electricity, Vexatious litigation, Provident Bank, Whitehawk, Investment, Tobacco Master Settlement Agreement, Signature Bank, Environment, Convertible, Maintenance, Credit agreements in South Africa, PJM, Silicon Valley Bank, Deleveraging, PJM Interconnection, Kilowatt-hour, Coal, Provident Bank of New Jersey, Silvergate Bank, PPL Corporation, FirstEnergy, Credit, SDIG, Sino-Japanese Journalist Exchange Agreement, Light, Merrilees, Panther Creek, Engineering, Economics, Minerva, FTX, Plant, The Strongbox, EBITDA, Mining, First Republic Bank, Cryptocurrency, Video game, Security (finance), Renewable energy, Bitcoin, Foundry

NEW YORK, March 29, 2023 (GLOBE NEWSWIRE) -- Stronghold Digital Mining, Inc. (NASDAQ: SDIG) (“Stronghold”, the “Company”, or “we”) today announced financial and operational results for the fourth quarter and full year 2022 and provided an operational update.

Key Points: 
  • NEW YORK, March 29, 2023 (GLOBE NEWSWIRE) -- Stronghold Digital Mining, Inc. (NASDAQ: SDIG) (“Stronghold”, the “Company”, or “we”) today announced financial and operational results for the fourth quarter and full year 2022 and provided an operational update.
  • “Since the second quarter of 2022, we have announced several agreements to reduce our debt, strengthen our balance sheet, and improve Stronghold’s liquidity position.
  • During the fourth quarter of 2022, Stronghold earned 447 Bitcoin through its mining operations, a decline of approximately 21% from the 567 Bitcoin mined during the third quarter of 2022.
  • Stronghold generated $0.9 million of capacity revenue during the fourth quarter, which was flat from the third quarter and down 53% year-over-year versus the $1.9 million generated during the fourth quarter of 2021.

The Lovesac Company Reports Record Fourth Quarter and Fiscal 2023 Financial Results

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화요일, 3월 28, 2023
Advertising, Employment, Travel, Comparable, Marketing, Internet, Costco, Deleveraging, Sale, Wells Fargo, EBITDA, Investment, Growth, Transport, Credit, Car dealership, Bank, Pharmaceutical industry, Video game, Retail, Security (finance), Food delivery

STAMFORD, Conn., March 28, 2023 (GLOBE NEWSWIRE) -- The Lovesac Company (Nasdaq: LOVE) (“Lovesac” or the “Company”), sustainable home furnishing brand best known for its Sactionals, The World's Most Adaptable Couch, today announced financial results for the fourth quarter and fiscal year 2023, which ended January 29, 2023.

Key Points: 
  • Gross profit increased $25.6 million, or 23.4%, to $135.2 million in the fourth quarter of fiscal 2023 from $109.6 million in the fourth quarter of fiscal 2022.
  • Operating income was $38.1 million in the fourth quarter of fiscal 2023 compared to $24.2 million in the fourth quarter of fiscal 2022.
  • Operating margin was 15.9% of net sales in the fourth quarter of fiscal 2023 compared to 12.3% of net sales in the fourth quarter of fiscal 2022.
  • Net income was $27.6 million in the fourth quarter of fiscal 2023 or $1.74 per diluted share compared to $32.6 million or $2.03 in the fourth quarter of fiscal 2022.