Debt

Edenbrook Capital Sends Follow-Up Letter to Absolute Software Board

Retrieved on: 
Tuesday, June 6, 2023
Pressure, Letter, NetMotion Software, Absolute Software Corporation, Bank statement, Credit agreements in South Africa, Debt, Perception, Committee, Disclosure, Perella Weinberg Partners, Dissent, Arrangement, Superior (proposed U.S. state), Negotiation, Lawyer, Sale, Circular, EBITDA, BSP, Proposed acquisition of Activision Blizzard by Microsoft, Acquisition, Memorial, ARR, Reading, SEDAR, Security (finance), Canadian House of Commons Special Committee on Electoral Reform, Crosspointe, Virginia, Relaxation, Credit, Environment, News, YES, Bank, Risk management, Auction, Absolute, Crosspoint

Further, the Circular describes two amendments to the Credit Agreement, on March 30 and May 8, that raise troubling questions.

Key Points: 
  • Further, the Circular describes two amendments to the Credit Agreement, on March 30 and May 8, that raise troubling questions.
  • With our target to attain a net debt to adjusted EBITDA ratio that's below 2 times in a two-year timeframe.
  • As we've discussed, we're targeting a net debt to adjusted EBITDA ratio below 2 times in a two-year timeframe."
  • The issues laid out in this letter and the May 18 Letter detail numerous flaws with the price and process related to the Proposed Acquisition.

Half of Business Owners Do Not Want Their Children to Inherit, Run Business

Retrieved on: 
Monday, June 5, 2023
Finance, Banking, Professional Services, Small Business, Family, Baby Boomers, Generation X, Consumer, Asset Management, Advice, Debt, Gen, Parent, Investment management, Ageing, Bank, Interstate Insurance Product Regulation Commission, Wells Fargo, Toy, Creative industries, Tutoring

Operating your own business is considered an “American Dream” by many, yet when it comes to succession planning, half (52%) of business owners do not want their children to inherit and run the business, according to a recent Wells Fargo study.

Key Points: 
  • Operating your own business is considered an “American Dream” by many, yet when it comes to succession planning, half (52%) of business owners do not want their children to inherit and run the business, according to a recent Wells Fargo study.
  • “More parents are recognizing their children simply are not interested in joining the family business and are not pressuring them to do so.
  • Knowing what your children are interested in and where their strengths lie is key to effective succession planning.”
    Among parents, nearly all (94%) want their children to forge their own path, rather than follow in their footsteps.
  • Most wealth creators help their adult children financially in multiple areas:

Quanex Building Products Announces Second Quarter 2023 Results and Reaffirms Full Year 2023 Guidance

Retrieved on: 
Thursday, June 1, 2023
Pressure, Debt, LMI, GAAP, LTM, Index, EBITDA, Disclaimer, Bank, Security (finance), Adjustment

HOUSTON, June 01, 2023 (GLOBE NEWSWIRE) -- Quanex Building Products Corporation (NYSE:NX) (“Quanex” or the “Company”) today announced its results for the three months ended April 30, 2023.  

Key Points: 
  • Demand improved across all product lines during the second quarter of this year compared to the first quarter of this year, and we executed well from an operational standpoint.
  • The customer inventory rebalancing initiatives that impacted results in our fenestration segments in the first quarter also impacted results in the second quarter, albeit to a lesser degree.
  • Quanex realized a decline in net sales of 11.8% for the second quarter of 2023 in its North American Fenestration segment.
  • Based on conversations with our customers and recent demand trends, we are reaffirming prior guidance for fiscal 2023.

InspireSemi Announces Extension of Private Placement and Shares for Debt Settlement

Retrieved on: 
Tuesday, May 30, 2023
Debt, TSX Venture Exchange, Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc., CAD, News, Legislation, Security (finance), Share (finance)

The Company now expects the offering to close on or before June 28, 2023 subject to the approval of the TSX Venture Exchange.

Key Points: 
  • The Company now expects the offering to close on or before June 28, 2023 subject to the approval of the TSX Venture Exchange.
  • The terms of the Offering are unchanged from those previously reported.
  • The Company issued the Shares in full satisfaction of the Debt.
  • All Shares issued pursuant to the settlement of the Debt are subject to a hold period of four months plus a day from the date of issuance of the Shares, being September 27, 2023, in accordance with applicable securities legislation and the polices of the TSX Venture Exchange.

CSW Industrials Reports Record Fiscal 2023 Fourth Quarter and Full Year Results

Retrieved on: 
Thursday, May 25, 2023
Debt, EPS, EBITDA, GAAP, Petroleum, Bank, Insurance

DALLAS, May 25, 2023 (GLOBE NEWSWIRE) -- CSW Industrials, Inc. (Nasdaq: CSWI or the "Company") today reported record results for the fiscal 2023 fourth quarter and full year periods ended March 31, 2023.

Key Points: 
  • DALLAS, May 25, 2023 (GLOBE NEWSWIRE) -- CSW Industrials, Inc. (Nasdaq: CSWI or the "Company") today reported record results for the fiscal 2023 fourth quarter and full year periods ended March 31, 2023.
  • Total revenue increased 12.9% to $195.7 million, with an organic growth rate of 10.5%
    Net income attributable to CSWI increased 46.7% to $27.1 million, compared to $18.4 million, with no adjustments to earnings in either period
    Earnings per diluted share (EPS) increased 48.7% to $1.74, compared to $1.17
    EBITDA increased 32.8% to $49.4 million, with margin expansion of 370 bps to 25.2%
    Paid down $23.5 million of debt and improved balance sheet strength with a leverage ratio (Debt to EBITDA), in accordance with our credit facility, of approximately 1.3x
    Total revenue increased 21.0% to $757.9 million, with an organic growth rate of 15.3%
    Net income attributable to CSWI increased 39.1% to $96.4 million, compared to $69.3 million, adjusted to exclude the final TRUaire purchase accounting effect from the GAAP amount of $66.4 million
    EPS of $6.20 increased 41.2%, compared to $4.39, adjusted to exclude the final TRUaire purchase accounting effect from the GAAP EPS of $4.20
    EBITDA increased 30.6% to $174.1 million, with margin expansion of 170 bps to 23.0%
    Invested $58.3 million in acquisitions and $14.0 million in organic capital expenditures, while returning total cash of $46.3 million to shareholders through share repurchases ($35.7 million) and dividends ($10.6 million)

Corporacion America Airports Reports First Quarter 2023 Results

Retrieved on: 
Tuesday, May 23, 2023
Air, Transport, Other Travel, Transportation, Travel, Other Transport, Advertising, Food, Investment, Telecommunications, Debt, Construction, Net income, EBITDA, CAAP, Argentine peso, Pre-construction services, Depreciation, IAS, Adjustment, VIP, Bookkeeping

Adjusted EBITDA Margin is calculated by dividing Adjusted EBITDA by total revenues.

Key Points: 
  • Adjusted EBITDA Margin is calculated by dividing Adjusted EBITDA by total revenues.
  • Adjusted EBITDA excluding Construction Service (“Adjusted EBITDA ex-IFRIC”) is defined as income for the period before construction services revenue and cost, financial income, financial loss, income tax expense, depreciation and amortization.
  • Percentage variations ex-IAS 29 figures compare results as presented in the prior year quarter before IAS 29 came into effect, against ex-IAS 29 results for this quarter as described above.
  • Through bidding processes, the Company contracts third parties to carry out such construction or improvement services.

Lifeist Announces Closing of Non-Brokered Debt Financing

Retrieved on: 
Friday, May 19, 2023
Debt, TSX Venture Exchange, Person, Prospectus, Science, Regulation, National instrument, Offering, NEWS, Cannabis, Finance Secretary (India), Debenture, News, Security (finance)

TORONTO, May 19, 2023 (GLOBE NEWSWIRE) -- Lifeist Wellness Inc. (“Lifeist” or the “Company”) (TSXV: LFST) (FRANKFURT: M5B) (OTCMKTS: LFSWF), a health-tech company that leverages advancements in science and technology to build breakthrough companies that transform human wellness, today announced that it has closed a tranche of the non-brokered private placement (the "Offering") of secured convertible debentures (the "Debentures") originally announced on March 16, 2023 for aggregate gross proceeds to the Company of $167,125 (the “Funded Amount”). The Company intends to use the proceeds from the Offering to help fuel expansion of Lifeist’s cannabis and nutraceuticals businesses, CannMart, Inc (“CannMart”) and Mikra Cellular Sciences Inc. (“Mikra”).

Key Points: 
  • The repayment of the Principal Amount of the Debentures will be secured by a security agreement over specific equipment of the Company.
  • Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals.
  • Closing of the Offering is subject to regulatory approval, including that of the TSX Venture Exchange ("TSXV").
  • The securities have not been and will not be registered under the U.S. Securities Act of 1933 (the “U.S.

Innovation is the name of the game as Katch Investment Group bags an award at the 11th edition of Global Brand Awards

Retrieved on: 
Thursday, May 18, 2023
Debt, Consumer, Fortress Investment Group, GBM, Financial services

LONDON, May 18, 2023 /PRNewswire/ -- The Global Brand Awards is an annual event held by Global Brands Magazine (GBM), an international publication headquartered in the UK. The award aims to recognise global brands achieving excellence in performance across a broad range of sectors while keeping its readers updated on key trends surrounding the branding world. Katch Investment Group was evaluated based on customer service, satisfaction, digital innovation, strategic relationships and new business development.

Key Points: 
  • LONDON, May 18, 2023 /PRNewswire/ -- The Global Brand Awards is an annual event held by Global Brands Magazine (GBM), an international publication headquartered in the UK.
  • Katch Investment Group was evaluated based on customer service, satisfaction, digital innovation, strategic relationships and new business development.
  • Commenting on Katch Investment Group winning the awards, Jay Reddy, Director of Global Brands Magazine said, " Katch Investment Group's constant efforts to constantly be the game change don't go unnoticed.
  • It is rare for brands to constantly deliver on customer success, yet Katch Investment Group does it time and again.

Innovation is the name of the game as Katch Investment Group bags an award at the 11th edition of Global Brand Awards

Retrieved on: 
Thursday, May 18, 2023
Debt, Consumer, Fortress Investment Group, GBM, Financial services

LONDON, May 18, 2023 /PRNewswire/ -- The Global Brand Awards is an annual event held by Global Brands Magazine (GBM), an international publication headquartered in the UK. The award aims to recognise global brands achieving excellence in performance across a broad range of sectors while keeping its readers updated on key trends surrounding the branding world. Katch Investment Group was evaluated based on customer service, satisfaction, digital innovation, strategic relationships and new business development.

Key Points: 
  • LONDON, May 18, 2023 /PRNewswire/ -- The Global Brand Awards is an annual event held by Global Brands Magazine (GBM), an international publication headquartered in the UK.
  • Katch Investment Group was evaluated based on customer service, satisfaction, digital innovation, strategic relationships and new business development.
  • Commenting on Katch Investment Group winning the awards, Jay Reddy, Director of Global Brands Magazine said, " Katch Investment Group's constant efforts to constantly be the game change don't go unnoticed.
  • It is rare for brands to constantly deliver on customer success, yet Katch Investment Group does it time and again.

Arcos Dorados Reports Strong First Quarter Financial Results

Retrieved on: 
Wednesday, May 17, 2023
Retail, Restaurant, Bar, Food, Beverage, Industrial engineering, Insurance, Note, Table, Bank statement, SoftBank Group, Debt, Debt-to-GDP ratio, CPG, AGM, Arcos Dorados Holdings, MBA, GAAP, Blog, McKinsey & Company, Sale, Public expenditure, Constant, Mezcal, EBITDA, Investment, Reforma, Harvard Business School, Time Inc., Form, Webcast, Depreciation, Growth, Digital, Shark Tank, Adjustment, III, Bank, Cryptocurrency, Bookkeeping

Net Financial Debt equals Total Financial Debt less Cash & cash equivalents.

Key Points: 
  • Net Financial Debt equals Total Financial Debt less Cash & cash equivalents.
  • As of March 31, 2023, Cash and cash equivalents were $263.8 million and Total Financial Debt (including the net derivative instrument position) was $688.8 million.
  • In order to access the webcast, members of the investment community should follow this link Arcos Dorados First Quarter 2023 Results Webcast .
  • For more information, please see Adjusted EBITDA reconciliation in Note 9 – Segment and geographic information – of our financial statements (6-K Form) filed today with the S.E.C.