Stock dilution

Faraday Future Announces its Outline for October FF 91 2.0 Deliveries as Part of its Ongoing ‘Delivery Co-Creation Day’ Plan and Provides Business Update

Retrieved on: 
Friday, September 29, 2023

The Company also announced the continuation of its Co-Creation partnerships and outlined preliminary upcoming FF 91 2.0 Futurist Alliance deliveries for October as part of its ongoing ‘Delivery Co-Creation Day’ plans.

Key Points: 
  • The Company also announced the continuation of its Co-Creation partnerships and outlined preliminary upcoming FF 91 2.0 Futurist Alliance deliveries for October as part of its ongoing ‘Delivery Co-Creation Day’ plans.
  • In the third quarter, the Company delivered its first three FF 91 2.0 Futurist Alliance vehicles and plans to continue deliveries going forward.
  • With approximately $3 billion invested into the Company to date, FF has delivered the FF 91 2.0 Futurist Alliance, which is truly an all-ability aiHypercar.
  • Users can preorder an FF 91 vehicle via the FF Intelligent App or through the Company’s website at:

Touchstone Bank Announces Strategic Restructuring

Retrieved on: 
Thursday, September 28, 2023

PRINCE GEORGE, Va., Sept. 28, 2023 /PRNewswire/ -- Touchstone Bank (the "Bank") today announced the completion of a reduction in force plan that is expected to decrease annual expenses by approximately $1.0 million on a pre-tax basis.

Key Points: 
  • PRINCE GEORGE, Va., Sept. 28, 2023 /PRNewswire/ -- Touchstone Bank (the "Bank") today announced the completion of a reduction in force plan that is expected to decrease annual expenses by approximately $1.0 million on a pre-tax basis.
  • "We are continuing to implement a long-standing strategic initiative to streamline the Bank for enhanced efficiency and profitability," said James R. Black, President and Chief Executive Officer of the Bank.
  • "This restructuring is intended to provide long-term and sustainable earnings enhancement without negatively impacting customer service and operational activities.
  • I recognize that this type of transformational change is difficult, but I believe it is in the best interests of the Bank and its stakeholders."

BridgeBio Pharma Announces $250 Million Private Placement Equity Financing

Retrieved on: 
Monday, September 25, 2023

PALO ALTO, Calif., Sept. 25, 2023 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (Nasdaq: BBIO) (BridgeBio or the Company), a commercial-stage biopharmaceutical company focused on genetic diseases and cancers, has entered into a securities purchase agreement with certain existing and new accredited investors to issue and sell an aggregate of 9,167,723 shares of its common stock (Common Stock) at the Friday, September 22, 2023 closing price of $27.27 per share through a private investment in public equity (PIPE) financing. BridgeBio anticipates the gross proceeds from the PIPE financing to be approximately $250 million, before deducting offering expenses. The PIPE financing is anticipated to close on September 27, 2023, subject to customary closing conditions.

Key Points: 
  • BridgeBio anticipates the gross proceeds from the PIPE financing to be approximately $250 million, before deducting offering expenses.
  • The PIPE financing is anticipated to close on September 27, 2023, subject to customary closing conditions.
  • TD Cowen, Mizuho, and KKR Capital Markets LLC are acting as joint placement agents for the PIPE financing.
  • “We are very pleased to partner with such a strong group of investors,” said Neil Kumar, Ph.D., founder and CEO of BridgeBio.

Nano Dimension Re-affirms They Are Voting “AGAINST” Stratasys’ Value-Destructive Merger with Desktop Metal; Part of Growing Consensus Along with Large Shareholder, Donerail, and Proxy Advisor, ISS

Retrieved on: 
Friday, September 22, 2023

Waltham, Mass., Sept. 22, 2023 (GLOBE NEWSWIRE) -- Nano Dimension Ltd. (Nasdaq: NNDM) (“Nano Dimension” or the “Company”), a leading supplier of Additively Manufactured Electronics (“AME”) and multi-dimensional polymer, metal & ceramic Additive Manufacturing (“AM”) 3D printers, today announced that it re-affirms its opposition and intends to vote against Stratasys Ltd. (Nasdaq: SSYS) (“Stratasys”) proposed merger with Desktop Metal Inc. (NYSE: DM) (“Desktop Metal”) and urges fellow Stratasys shareholders to join in casting votes against the transaction at the company’s Extraordinary General Meeting of Shareholders (the “Stratasys EGM”) to be held on September 28, 2023. Nano Dimension is Stratasys’ largest shareholder and owns approximately 14.1% of Stratasys’ outstanding ordinary shares. Nano Dimension’s position has only been further supported in the last week by comparable positions from The Donerail Group LP (“Donerail”), one of Stratasys’ largest shareholders, and Institutional Shareholders Services Inc. (“ISS”), the leading proxy advisory firms with expertise on such matters.

Key Points: 
  • Nano Dimension is Stratasys’ largest shareholder and owns approximately 14.1% of Stratasys’ outstanding ordinary shares.
  • As of September 13, 2023, Desktop Metal has lost over $3.9 billion of value, representing almost 90% of its equity value, since becoming a public company in 2020.
  • Your vote is vital to preventing a value destructive merger between Stratasys and Desktop Metal.
  • Holders of Stratasys ordinary shares as of the close of business on August 24, 2023, are entitled to vote at the Stratasys EGM.

indie Semiconductor Commences Warrant Exchange Offer and Consent Solicitation

Retrieved on: 
Friday, September 22, 2023

The purpose of the Offer and Consent Solicitation is to simplify the Company’s capital structure and reduce the potential dilutive impact of the warrants.

Key Points: 
  • The purpose of the Offer and Consent Solicitation is to simplify the Company’s capital structure and reduce the potential dilutive impact of the warrants.
  • Parties representing approximately 32% of the outstanding warrants have agreed to tender their warrants in the Offer and to consent to the Warrant Amendment in the Consent Solicitation pursuant to a tender and support agreement.
  • The Offer and Consent Solicitation are being made only through the Schedule TO and Prospectus/Offer to Exchange, and the complete terms and conditions of the Offer and Consent Solicitation are set forth in the Schedule TO and Prospectus/Offer to Exchange.
  • Holders of the warrants are urged to read the Schedule TO and Prospectus/Offer to Exchange carefully before making any decision with respect to the Offer and Consent Solicitation because they contain important information, including the various terms of, and conditions to, the Offer and Consent Solicitation.

Pipestone Announces That ISS and Glass Lewis Recommend Shareholders Vote “for” Proposed Combination With Strathcona to Create a Leading Canadian Energy Producer, and Sets Record Straight on Flawed and Misleading Arguments by GMT

Retrieved on: 
Monday, September 18, 2023

Pipestone also wishes to set the record straight on the flawed assumptions and misleading arguments made by Atlanta, Georgia-based GMT Capital Corp. (“GMT”) against this value-creating transaction.

Key Points: 
  • Pipestone also wishes to set the record straight on the flawed assumptions and misleading arguments made by Atlanta, Georgia-based GMT Capital Corp. (“GMT”) against this value-creating transaction.
  • It was clear to the independent and unconflicted members of the Special Committee that the Strathcona proposal was in the best interests of the Shareholders.
  • The recommendations that Shareholders vote “FOR” the Arrangement by the independent proxy advisory firms ISS and Glass Lewis underscore the Board’s recommendation.
  • The Board of Pipestone has approved the Arrangement and recommends that Shareholders vote FOR the Arrangement at the Meeting.

Nano Dimension to Vote “AGAINST” Stratasys’ Value-Destructive Merger with Desktop Metal; Urges Fellow Stratasys Shareholders to Join in Opposition

Retrieved on: 
Thursday, September 14, 2023

Waltham, Mass., Sept. 14, 2023 (GLOBE NEWSWIRE) -- Nano Dimension Ltd. (Nasdaq: NNDM) (“Nano Dimension” or the “Company”), a leading supplier of Additively Manufactured Electronics (“AME”) and multi-dimensional polymer, metal & ceramic Additive Manufacturing (“AM”) 3D printers, today announced that it opposes and intends to vote against Stratasys Ltd. (Nasdaq: SSYS) (“Stratasys”) proposed merger with Desktop Metal Inc. (NYSE: DM) (“Desktop Metal”) and urges fellow Stratasys shareholders to join in casting votes against the transaction at the company’s Extraordinary General Meeting of Shareholders (the “Stratasys EGM”) to be held on September 28, 2023. Nano Dimension is Stratasys’ largest shareholder and owns approximately 14.1% of Stratasys’ outstanding ordinary shares.

Key Points: 
  • Nano Dimension is Stratasys’ largest shareholder and owns approximately 14.1% of Stratasys’ outstanding ordinary shares.
  • Yoav Stern, CEO of Nano Dimension, commented, “The opportunity to vote on Stratasys’ proposed merger with Desktop Metal is quickly approaching.
  • We express to our fellow Stratasys shareholders our deep conviction that this merger would be highly dilutive and result in significant value destruction, sacrificing profitability and financial flexibility of Stratasys for limited upside.
  • Nano Dimension urges shareholders to vote TODAY “AGAINST” the proposed merger.

Splash Beverage Group Enters (Non-Binding) Term Sheet to Fund Acquisitions  

Retrieved on: 
Thursday, September 7, 2023

FORT LAUDERDALE, FL, Sept. 07, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire - Splash Beverage Group, Inc. (NYSE American: SBEV) (“Splash” or the “Company”), a portfolio company of leading beverage brands, today announced it has entered a (non-binding) Term Sheet to fund acquisitions.

Key Points: 
  • FORT LAUDERDALE, FL, Sept. 07, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire - Splash Beverage Group, Inc. (NYSE American: SBEV) (“Splash” or the “Company”), a portfolio company of leading beverage brands, today announced it has entered a (non-binding) Term Sheet to fund acquisitions.
  • “This Credit Facility is designed to provide the financial backing for us to execute on a key feature of our business strategy, growth through acquisition,” said Robert Nistico, Chief Executive Officer of Splash Beverage Group.
  • “We have built our organization with the intention of embarking on a series of significant acquisitions, with key officers, our President, CFO, Controller, National VP of Sales, etc., all with experience working with larger companies.
  • “Each acquisition will be treated as a separate transaction and does not limit us to just one brand and/or company.

ISS and Glass Lewis Recommend Forte Biosciences Stockholders Vote FOR Boardroom Change at the Company’s Upcoming Annual Meeting

Retrieved on: 
Thursday, September 14, 2023

“We are pleased that both ISS and Glass Lewis have recognized the need for change in Forte’s boardroom and share our grave concerns with the dilutive, anti-stockholder actions taken by the current Board.

Key Points: 
  • “We are pleased that both ISS and Glass Lewis have recognized the need for change in Forte’s boardroom and share our grave concerns with the dilutive, anti-stockholder actions taken by the current Board.
  • Ahead of the upcoming Annual Meeting, we urge our fellow stockholders to vote for both of our independent director candidates – Michael Hacke and Chris McIntyre – who have the experience needed to address gaps in the boardroom and help put Forte back on the right path.
  • IF YOU VOTED FOR THE COMPANY’S NOMINEES PREVIOUSLY, A LATER DATED VOTE FOR THE CONCERNED STOCKHOLDERS’ NOMINEES WILL OVERRIDE YOUR PRIOR VOTING INSTRUCTIONS.
  • IF YOU HAVE ANY QUESTIONS REGARDING HOW TO VOTE, PLEASE CALL SARATOGA PROXY CONSULTING AT (888) 368-0379 OR (212) 257-1311 OR BY EMAIL AT [email protected]

Advanced Energy Announces Closing of Offering of $575 Million of 2.50% Convertible Senior Notes With Initial Purchasers’ Option Fully Exercised

Retrieved on: 
Tuesday, September 12, 2023

Advanced Energy received net proceeds from the offering of the notes of approximately $561.2 million after deducting the initial purchasers’ discounts and after deducting offering expenses payable by Advanced Energy.

Key Points: 
  • Advanced Energy received net proceeds from the offering of the notes of approximately $561.2 million after deducting the initial purchasers’ discounts and after deducting offering expenses payable by Advanced Energy.
  • The notes are Advanced Energy’s senior unsecured obligations, bear interest at a rate of 2.50% per year, and will mature on September 15, 2028, unless earlier repurchased, redeemed or converted.
  • The convertible note hedge transactions cover, subject to customary anti-dilution adjustments, the same number of shares of common stock that initially underlie the notes.
  • Advanced Energy also entered into warrant transactions with the option counterparties relating to the same number of shares of common stock, subject to customary anti-dilution adjustments.