Business law

Arconic Announces Pricing of Additional Notes Offering

Wednesday, February 24, 2021 - 10:33pm

Arconic Corporation (NYSE: ARNC) (Arconic or the Company) announced today the pricing of its offering of an additional $300 million aggregate principal amount of the Companys 6.125% Senior Secured Second-Lien Notes due 2028 (the Additional Notes).

Key Points: 
  • Arconic Corporation (NYSE: ARNC) (Arconic or the Company) announced today the pricing of its offering of an additional $300 million aggregate principal amount of the Companys 6.125% Senior Secured Second-Lien Notes due 2028 (the Additional Notes).
  • The Additional Notes will be issued at an offering price of 106.25% of the principal amount thereof, plus accrued interest from February 15, 2021.
  • The Additional Notes will be issued under the indenture governing the Company's existing 6.125% Senior Secured Second-Lien Notes due 2028 (the Existing Notes).
  • Any offers of the Additional Notes or related guarantees are being made only by means of a private offering memorandum.

Verano Holdings Enters into Agreement to Expand Arizona Footprint

Wednesday, February 24, 2021 - 1:20pm

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Key Points: 
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    CHICAGO, Feb. 24, 2021 (GLOBE NEWSWIRE) -- Verano Holdings Corp. (CSE: VRNO) (Verano or the Company), a leading multi-state cannabis company, today announced it has entered into an agreement to acquire three active dispensaries and one cultivation and production facility in Arizona.
  • Arizona recently added adult-use to its program, and we look forward to accelerating our proven, vertically integrated model to help meet rising demand.
  • Verano, Verano Arizona Holdings, LLC (a wholly-owned subsidiary of Verano, Verano Arizona), NZCO LLC, an Arizona limited liability company (NZCO), Murff & Company LLC, an Arizona limited liability company (M&C), JWC1 LLC, an Arizona limited liability company (JWC), Hu Commercial Properties LLC, an Arizona limited liability company (HCP), and COBISH LLC, an Arizona limited liability company (Cobish and together with NZCO, M&C, JWC and HCP, each a Target Company and collectively, the Target Companies), the board members of AZGM 3, Inc., an Arizona non-profit corporation, the members of Vending Logistics LLC, an Arizona limited liability company, the managers of Vending Logistics LLC, Best-in-Show Holdings L.L.C., an Arizona limited liability company, and the sole member of The Medicine Room LLC, an Arizona limited liability company, and the managers of Medicine Room LLC have entered into a reorganization and merger agreement pursuant to which the Target Companies will merge with and into Verano Arizona.
  • The transaction includes three premium, high traffic and easily accessible dispensaries located in Mesa, Chandler, and Gilbert, Arizona, an 11,000 sq.

John Dowd Will Vote For All of The Concerned Shareholders’ Stated Proposals at Taronis Fuels, Inc.

Wednesday, February 24, 2021 - 2:00pm

BOSTON, Feb. 24, 2021 (GLOBE NEWSWIRE) -- John Dowd today announced that he will vote 100% of his 133,466 shares of Taronis Fuels, Inc. (Taronis or the Company) (OTCQB: TRNF) in support of each of Tobias Welo and Thomas Wetheralds (the Concerned Shareholders) proposals on the WHITE Consent Card.

Key Points: 
  • BOSTON, Feb. 24, 2021 (GLOBE NEWSWIRE) -- John Dowd today announced that he will vote 100% of his 133,466 shares of Taronis Fuels, Inc. (Taronis or the Company) (OTCQB: TRNF) in support of each of Tobias Welo and Thomas Wetheralds (the Concerned Shareholders) proposals on the WHITE Consent Card.
  • Mr. Dowd believes that the changes proposed including the removal of the five incumbent directors and the election of the Concerned Shareholders five nominees will help unlock value for Taronis shareholders.
  • I am confident that the Concerned Shareholders highly-qualified director candidates will help reverse the sustained value destruction overseen by Taronis ineffective leadership team.
  • John Dowd cautions readers not to rely on any such forward-looking statements, which speak only as of the date they are made.

Equipment Leasing and Finance Association’s Survey of Economic Activity: Monthly Leasing and Finance Index

Wednesday, February 24, 2021 - 1:00pm

Separately, the Equipment Leasing & Finance Foundations Monthly Confidence Index (MCI-EFI) in February is 64.4, an increase from the January index of 59.6.

Key Points: 
  • Separately, the Equipment Leasing & Finance Foundations Monthly Confidence Index (MCI-EFI) in February is 64.4, an increase from the January index of 59.6.
  • Preliminary economic projections indicate that equipment finance activity should accelerate as overall conditions in the U.S. economy improve in 2021.
  • The MLFI-25 measures monthly commercial equipment lease and loan activity as reported by participating ELFA member equipment finance companies representing a cross section of the equipment finance sector, including small ticket, middle-market, large ticket, bank, captive and independent leasing and finance companies.
  • Based on hard survey data, the responses mirror the economic activity of the broader equipment finance sector and current business conditions nationally.

Arconic Announces Proposed Additional Notes Offering

Wednesday, February 24, 2021 - 12:37pm

The Additional Notes will be issued under the indenture governing the Companys existing 6.125% Senior Secured Second-Lien Notes due 2028 (the Existing Notes).

Key Points: 
  • The Additional Notes will be issued under the indenture governing the Companys existing 6.125% Senior Secured Second-Lien Notes due 2028 (the Existing Notes).
  • The Additional Notes will be treated as a single series with the Existing Notes and will have the same terms as the Existing Notes, other than with respect to the date of issuance and issue price.
  • Any offers of the Additional Notes or related guarantees will be made only by means of a private offering memorandum.
  • All statements that reflect Arconics expectations, assumptions, projections, beliefs or opinions about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements regarding the intended conduct, timing and terms of the proposed Additional Notes offering, related financing plans and any future actions by Arconic in respect of the proposed Additional Notes.

SmartKem, Inc. Raises $24.6 Million and Completes Reverse Acquisition

Wednesday, February 24, 2021 - 12:00pm

Prior to the financing, SmartKem Limited (SmartKem) completed a reverse acquisition transaction with Parasol Investments Corporation (Parasol), a public Delaware corporation, whereby SmartKem became a wholly owned subsidiary of Parasol.

Key Points: 
  • Prior to the financing, SmartKem Limited (SmartKem) completed a reverse acquisition transaction with Parasol Investments Corporation (Parasol), a public Delaware corporation, whereby SmartKem became a wholly owned subsidiary of Parasol.
  • Following the acquisition, Parasol changed its name to SmartKem, Inc. and will continue the historic business of SmartKem.
  • The directors of SmartKem, Ian Jenks, Robert Bahns, Dr. Simon King, Klaas de Boer and Barbra Keck, have become the directors of the Company.
  • Ian Jenks has become the Chief Executive Officer of the Company and Robert Bahns has become the Chief Financial Officer of the Company.

Statement - Roadmap for a Renewed U.S.-Canada Partnership

Wednesday, February 24, 2021 - 2:43am

The Roadmap for a Renewed U.S.-Canada Partnership announced today establishes a blueprint for an ambitious and whole-of- government effort against the COVID-19 pandemic and in support of our mutual prosperity.

Key Points: 
  • The Roadmap for a Renewed U.S.-Canada Partnership announced today establishes a blueprint for an ambitious and whole-of- government effort against the COVID-19 pandemic and in support of our mutual prosperity.
  • It creates a partnership on climate change, advances global health security, bolsters cooperation on defense and security, and it reaffirms a shared commitment to diversity, equity, and justice.
  • Bound by history and geography, the partnership between the United States and Canada endures because we invest in each other's success."
  • The President and the Prime Minister recognize coordinated border policies remain central to controlling COVID-19 and new variants while promoting economic growth and recovery.

Taronis Fuels Urges Shareholders to Take no Action on the Wetherald/Welo Consent Solicitation Materials

Wednesday, February 24, 2021 - 12:43am

Taronis Fuels Board and management team have a strong track record for taking actions that position the Company for long-term value creation and driving strong shareholder returns.

Key Points: 
  • Taronis Fuels Board and management team have a strong track record for taking actions that position the Company for long-term value creation and driving strong shareholder returns.
  • In addition to substantial revenue growth and major technological achievements, Taronis Fuels continues to generate strong momentum around the growth potential of its proprietary clean gas technology.
  • Taronis Fuels urges all of shareholders to refrain from taking any action (including not returning any consent card sent by Wetherald/Welo) at this time.
  • The Board of Directors, in consultation with its advisors, is reviewing Wetherald/Welos solicitation materials and will advise stockholders of its recommendation in due course.

AssetMark Names Natalie Wolfsen Chief Executive Officer

Tuesday, February 23, 2021 - 9:22pm

(NYSE: AMK) today announced that its Board of Directors has named Natalie Wolfsen as the companys new Chief Executive Officer and Michael Kim as its new President.

Key Points: 
  • (NYSE: AMK) today announced that its Board of Directors has named Natalie Wolfsen as the companys new Chief Executive Officer and Michael Kim as its new President.
  • Natalie is a proven, high-performing leader who the Board of Directors unanimously believes is the right executive to lead AssetMark moving forward, said Xiaoning Jiao, Chairperson of the AssetMark Board of Directors.
  • I am thrilled to lead AssetMark forward as Chief Executive Officer and build on its strong momentum and proven track record of helping advisors succeed, said Ms. Wolfsen.
  • Mr. Kim most recently served as Executive Vice President and Chief Client Officer at AssetMark.

Pointivo Lands Eighth Patent Increasing Coverage of the Drone Analytics Market

Tuesday, February 23, 2021 - 6:05pm

Once issued, Pointivo will own eight US patents, with several other US and foreign patent applications pending.

Key Points: 
  • Once issued, Pointivo will own eight US patents, with several other US and foreign patent applications pending.
  • This patent covers the ability to automatically generate engineering CAD drawings from imagery captured from drones and other devices.
  • New Pointivo patent covers ability to automatically generate engineering CAD drawings from imagery captured from drones.
  • Pointivo is a pioneer in the use of AI and computer vision to extract information from imagery derived from various capture methods.