Corporate finance

Harbert European Growth Capital Fund II Provides UKCloud Limited with Debt Capital

Thursday, April 2, 2020 - 7:30am

LONDON, April 02, 2020 (GLOBE NEWSWIRE) -- Harbert European Growth Capital Fund II, SCSp (HEGC) has funded UKCloud Limited (UKCloud) with debt capital.

Key Points: 
  • LONDON, April 02, 2020 (GLOBE NEWSWIRE) -- Harbert European Growth Capital Fund II, SCSp (HEGC) has funded UKCloud Limited (UKCloud) with debt capital.
  • The debt will be used to help UKCloud continue on its expansion of its multi-cloud platforms and provide cash runway for organic growth.
  • About Harbert European Growth Capital Fund II, SCSp
    HEGC is one of Europe's leading investors in high growth technology-based companies looking to scale with less dilutive forms of investment capital.
  • HEGC provides flexible capital to support business plans ranging from organic growth, M&A and pre-IPO financing to various types of recapitalizations.

Crédit Agricole S.A. Launches Tender Offers for Perpetual Notes

Thursday, April 2, 2020 - 7:30am

Holders must make their own decision as to whether to tender any of their Notes pursuant to the Tender Offers, and if so, the principal amount of Notes to tender.

Key Points: 
  • Holders must make their own decision as to whether to tender any of their Notes pursuant to the Tender Offers, and if so, the principal amount of Notes to tender.
  • This announcement is not an invitation to participate in the Tender Offers.
  • The USD Notes are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such USD Notes will be engaged in only with, relevant persons.
  • Each intermediary must comply with the applicable laws and regulations concerning information duties vis--vis its clients in connection with the EUR Notes or the EUR Tender Offer.

CSC Acquires TCS-Groep in the Netherlands

Thursday, April 2, 2020 - 7:00am

The acquisition follows several strategic hires and investments CSC recently made, including the organic recruitment and set-up of its Fund Administration business in the U.S. and APAC markets.

Key Points: 
  • The acquisition follows several strategic hires and investments CSC recently made, including the organic recruitment and set-up of its Fund Administration business in the U.S. and APAC markets.
  • Beyond extending our capabilities in Europe, this acquisition reinforces our competitive advantage of being a privately held and independent service provider, says CSC Senior Vice President John Hebert.
  • TCS provides back office, compliance, accounting, tax, representation, and domiciliation services to funds based in the Netherlands, and is the largest non-banking depositary in the Netherlands.
  • With the merger complete, together well further accelerate our success in building the highest quality fund services business in the Netherlands and beyond.

Digicel Announces Tender Offers and Consent Solicitations

Thursday, April 2, 2020 - 3:24am

The purpose of the Tender Offers is aimed at reducing Digicel's leverage, extending its debt maturities, reducing interest costs and improving its liquidity position.

Key Points: 
  • The purpose of the Tender Offers is aimed at reducing Digicel's leverage, extending its debt maturities, reducing interest costs and improving its liquidity position.
  • Digicel has indicated for some time its commitment to reducing its debt to more sustainable levels and the tender offers and consent solicitations are a key step in that process.
  • In connection with any Scheme of Digicel One, Digicel's controlling shareholder would make an equity contribution to DGL0.5, and DGL0.5 would not be owned by Digicel Two or Digicel One.
  • The following tables set forth the Tender Consideration, Early Tender Premium and Total Tender Consideration for each series of Existing Notes validly tendered (and not validly withdrawn) and accepted for exchange in the applicable Tender Offer:

Triumph Group Appoints Richard Goglia As New Independent Director

Thursday, April 2, 2020 - 2:00am

BERWYN, Pa., April 1, 2020 /PRNewswire/ -- Triumph Group [NYSE: TGI] today announced that Richard Goglia will join its Board of Directors as an independent director and as a member of the Audit and Finance committees.

Key Points: 
  • BERWYN, Pa., April 1, 2020 /PRNewswire/ -- Triumph Group [NYSE: TGI] today announced that Richard Goglia will join its Board of Directors as an independent director and as a member of the Audit and Finance committees.
  • Rich's work included debt restructuring and equity issuances, lender renegotiations, asset sales, and asset liquidations to reduce debt.
  • "We are pleased to welcome Rich and know that his expertise in corporate finance and aerospace will make him a valuable independent director on the Triumph Group Board," said Daniel J. Crowley, Triumph's president and chief executive officer.
  • Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerospace and defense systems, components and structures.

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Canaan Inc. – CAN

Thursday, April 2, 2020 - 12:13am

NEW YORK, April 01, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors ofCanaan Inc. (Canaan or the Company) (NASDAQ: CAN).

Key Points: 
  • NEW YORK, April 01, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors ofCanaan Inc. (Canaan or the Company) (NASDAQ: CAN).
  • In November 2019, Canaan completed its initial public offering (IPO), selling 10 million American Depositary Shares (ADSs) priced at $9.00 per share.
  • Then, on February 20, 2020, an investment analyst publishing under the pseudonym Marcus Aurelius published a short report entitled Canaan Fodder.
  • Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions.

Seneca Biopharma Announces Inducement Grant under Nasdaq Listing Rule 5635(c)(4)

Wednesday, April 1, 2020 - 11:30pm

On April 1, 2019, the grant date ("Grant Date"), Dr. Kalnik received options to purchase 282,840 shares of common stock and Mr. Saglio received options to purchase 70,710 shares of common stock.

Key Points: 
  • On April 1, 2019, the grant date ("Grant Date"), Dr. Kalnik received options to purchase 282,840 shares of common stock and Mr. Saglio received options to purchase 70,710 shares of common stock.
  • Seneca Biopharma, Inc. is a clinical-stage biopharmaceutical company developing novel treatments for various diseases of high unmet medical need.
  • Such forward-looking statements relate to future, not past, events and may often be identified by words such as "expect," "anticipate," "intend," "plan," "believe," "seek" or "will."
  • We do not assume any obligation to update any forward-looking statements, except as required by law.

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of DouYu International Holdings Limited – DOYU

Wednesday, April 1, 2020 - 11:53pm

NEW YORK, April 01, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of DouYu International Holdings Limited (DouYu or the Company) (NASDAQ:DOYU).

Key Points: 
  • NEW YORK, April 01, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of DouYu International Holdings Limited (DouYu or the Company) (NASDAQ:DOYU).
  • The investigation concerns whether DouYu and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
  • In July 2019, DouYu completed its initial public offering (IPO), issuing 67,387,110 American Depositary Shares (ADSs) priced at $11.50 per ADS.
  • Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions.

MESA AIR GROUP ALERT: Bragar Eagel & Squire, P.C. is Investigating Mesa Air Group, Inc. on Behalf of Stockholders and Encourages Investors to Contact the Firm

Wednesday, April 1, 2020 - 11:41pm

Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Mesa Air Group, Inc. (NASDAQ: MESA) on behalf of Mesa stockholders.

Key Points: 
  • Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Mesa Air Group, Inc. (NASDAQ: MESA) on behalf of Mesa stockholders.
  • Our investigation concerns whether Mesa has violated the federal securities laws and/or engaged in other unlawful business practices.
  • On or around August 9, 2018, Mesa conducted its initial public offering (IPO), selling approximately 9.63 million shares of common stock priced at $12.00.
  • The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country.

AgriBank Pays Quarterly Preferred Stock Dividend

Wednesday, April 1, 2020 - 8:39pm

Paul-based AgriBank paid a quarterly cash dividend of $1.7188 per share on its 6.875 percent non-cumulative perpetual class A preferred stock to holders of record as of January 1, 2020.

Key Points: 
  • Paul-based AgriBank paid a quarterly cash dividend of $1.7188 per share on its 6.875 percent non-cumulative perpetual class A preferred stock to holders of record as of January 1, 2020.
  • AgriBank issued $250 million of preferred stock on October 29, 2013 to provide the Bank and the 15-state Farm Credit District it serves with long-term access to high-quality capital, helping ensure the District is well-positioned to meet the long-term growth and credit needs of farmer and rancher customers.
  • Under Farm Credit's cooperative structure, AgriBank is primarily owned by 14 local Farm Credit Associations, which provide financial products and services to rural communities and agriculture.
  • The AgriBank District covers a 15-state area stretching from Wyoming to Ohio and Minnesota to Arkansas.