Corporate action

Air Methods Successfully Completes Financial Restructuring

Retrieved on: 
Thursday, December 28, 2023

DENVER, Dec. 28, 2023 (GLOBE NEWSWIRE) -- Air Methods Corporation (“Air Methods” or the “Company”), the leading air medical service provider in the U.S., announced today that it has successfully emerged from Chapter 11 with significantly reduced debt and increased liquidity that positions the Company for long-term success.

Key Points: 
  • DENVER, Dec. 28, 2023 (GLOBE NEWSWIRE) -- Air Methods Corporation (“Air Methods” or the “Company”), the leading air medical service provider in the U.S., announced today that it has successfully emerged from Chapter 11 with significantly reduced debt and increased liquidity that positions the Company for long-term success.
  • Air Methods is moving forward as an industry leader in air medical services and as an integral link between the nation’s top healthcare facilities and people in rural and remote communities.
  • We are well-positioned for long-term success and excited about the opportunities ahead.”
    As a result of the restructuring process, Air Methods reduced its total debt by approximately $1.7 billion.
  • “We also appreciate the strong support from our financial stakeholders, who share our confidence in Air Methods’ future.”
    Weil, Gotshal & Manges LLP served as legal advisor, Lazard served as financial advisor, and Alvarez & Marsal served as restructuring advisor to Air Methods.

Proterra Receives Court Approval for Sale of Proterra Powered Business Line

Retrieved on: 
Wednesday, November 29, 2023

BURLINGAME, Calif., Nov. 29, 2023 (GLOBE NEWSWIRE) -- Proterra Inc (OTC: PTRAQ) (“Proterra” or the “Company”), a leading innovator in commercial vehicle electrification technology, today announced that the Company has received final approval from the U.S. Bankruptcy Court for the sale of the Company’s Proterra Powered business line to Volvo Battery Solutions LLC (“Volvo”).

Key Points: 
  • BURLINGAME, Calif., Nov. 29, 2023 (GLOBE NEWSWIRE) -- Proterra Inc (OTC: PTRAQ) (“Proterra” or the “Company”), a leading innovator in commercial vehicle electrification technology, today announced that the Company has received final approval from the U.S. Bankruptcy Court for the sale of the Company’s Proterra Powered business line to Volvo Battery Solutions LLC (“Volvo”).
  • Proterra Powered leverages the Company’s industry-leading battery technology and expertise to electrify commercial vehicles.
  • The Sale hearing for Phoenix Motor, Inc.’s (“Phoenix”) pending acquisition of the Proterra Transit business line has been moved to December 12, 2023.
  • The sale of the Proterra Energy business line to a group of private funds controlled by Cowen Equity (“CSI”) will be consummated through a Chapter 11 Plan of Reorganization upon exit from bankruptcy.

Harm Reduction Therapeutics Introduces RiVive™, Over-the-Counter Opioid Overdose Reversal Medication

Retrieved on: 
Wednesday, December 20, 2023

Harm Reduction Therapeutics (HRT), an independent, 501(c)(3) non-profit pharmaceutical company, announced that it has begun shipping RiVive™ (naloxone HCl nasal spray 3 mg), an FDA-approved, over-the-counter (OTC) medication for the emergency treatment of opioid overdose.

Key Points: 
  • Harm Reduction Therapeutics (HRT), an independent, 501(c)(3) non-profit pharmaceutical company, announced that it has begun shipping RiVive™ (naloxone HCl nasal spray 3 mg), an FDA-approved, over-the-counter (OTC) medication for the emergency treatment of opioid overdose.
  • “HRT is the only non-profit pharmaceutical company focused on saving lives that would otherwise be lost to opioid overdose,” said Craig Landau, MD, President and CEO of Purdue.
  • As a result of our collective efforts, this medication will save lives.”
    HRT’s mission is to prevent opioid overdose deaths by making low-cost intranasal naloxone available to everyone without a prescription.
  • HRT will initially distribute to harm reduction community organizations and local and state governments.

Fire Victim Trust Announces Sale of Remaining 67.7 Million Shares

Retrieved on: 
Wednesday, December 13, 2023

The Fire Victim Trust (FVT) announced today the sale of the final 67.7 million shares of PG&E stock remaining in the Trust as it continues fulfilling its mission to compensate the victims of fires in Northern California from 2015 to 2018.

Key Points: 
  • The Fire Victim Trust (FVT) announced today the sale of the final 67.7 million shares of PG&E stock remaining in the Trust as it continues fulfilling its mission to compensate the victims of fires in Northern California from 2015 to 2018.
  • At that time, 476,995,175 shares of common stock were transferred to the Trust.
  • The Fire Victim Trust evaluates, administers, processes, and resolves eligible claims arising from the 2015 Butte Fire, 2017 North Bay Fires, and 2018 Camp Fire.
  • To date, the Fire Victim Trust has disbursed $10.8 billion to fire victims.

Core Scientific, Inc. Announces $55 Million Equity Rights Offering

Retrieved on: 
Monday, November 20, 2023

On November 14, 2023, the U.S. Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”) approved, among other matters, rights offering procedures and related materials that will govern the terms of the Rights Offering (the “Rights Offering Procedures”).

Key Points: 
  • On November 14, 2023, the U.S. Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”) approved, among other matters, rights offering procedures and related materials that will govern the terms of the Rights Offering (the “Rights Offering Procedures”).
  • No fractional Rights Offering Share will be issued in the Rights Offering.
  • The Rights Offering will include an over-subscription right to permit each holder that exercises its basic subscription rights in full to purchase additional Rights Offering Shares (if any) that remain unsubscribed at the expiration of the Rights Offering.
  • If the aggregate subscriptions (basic subscriptions plus over-subscriptions) exceed the number of Rights Offering Shares offered in the Rights Offering, then the aggregate over-subscription amount will be pro-rated among the holders exercising their respective oversubscription rights based on the number of Rights Offering Shares each holder has subscribed pursuant to its exercise of oversubscription rights.

Cyxtera Receives Court Approval for Sale to Brookfield and Plan of Reorganization

Retrieved on: 
Thursday, November 16, 2023

“We are pleased to be moving forward with our sale to Brookfield, which will provide Cyxtera with additional financial flexibility and enable us to benefit from Brookfield’s global infrastructure expertise,” said Nelson Fonseca, Cyxtera’s Chief Executive Officer.

Key Points: 
  • “We are pleased to be moving forward with our sale to Brookfield, which will provide Cyxtera with additional financial flexibility and enable us to benefit from Brookfield’s global infrastructure expertise,” said Nelson Fonseca, Cyxtera’s Chief Executive Officer.
  • In connection with the APA, Brookfield entered agreements with certain of the Company’s landlords to purchase the real estate underlying seven of Cyxtera’s U.S. data centers.
  • Additionally, Cyxtera amended the terms of its leases at three U.S. sites and three international sites to allow it to exit those sites in 2024.
  • Moelis & Co. is serving as exclusive financial advisor to Brookfield on the acquisition of Cyxtera.

LONGi Paves the Way for a Solar-filled Future with New Partnerships, Commitments to Clean Energy at COP28

Retrieved on: 
Wednesday, December 13, 2023

DUBAI, UAE, Dec. 13, 2023 /PRNewswire/ -- LONGi Green Energy Technology Co., Ltd. (LONGi), the world's largest solar PV producer, today concluded an active week at the United Nations Framework Convention on Climate Change (UNFCCC) COP28 summit. During the annual event, LONGi announced several major partnerships and new initiatives, including a pioneering three-year partnership with UNHCR, the UN Refugee Agency, to transform the agency's logistics hub into solarized facilities.

Key Points: 
  • "LONGi strives to be a key player in addressing climate challenges and fostering a more eco-friendly and equitable future through both research and development of solar technology and in our partnerships and sustainability commitments."
  • The need to embrace renewable energy across all nations was front and center at the summit.
  • Some 123 countries signed the Global Renewables and Energy Efficiency Pledge, which pledges to "triple the world's installed renewable energy generation capacity to at least 11,000 GW by 2030".
  • Also in alignment with the Global Renewables and Energy Efficiency Pledge, LONGi published its third climate action white paper at COP28.

LONGi Paves the Way for a Solar-filled Future with New Partnerships, Commitments to Clean Energy at COP28

Retrieved on: 
Wednesday, December 13, 2023

DUBAI, UAE, Dec. 13, 2023 /PRNewswire/ -- LONGi Green Energy Technology Co., Ltd. (LONGi), the world's largest solar PV producer, today concluded an active week at the United Nations Framework Convention on Climate Change (UNFCCC) COP28 summit. During the annual event, LONGi announced several major partnerships and new initiatives, including a pioneering three-year partnership with UNHCR, the UN Refugee Agency, to transform the agency's logistics hub into solarized facilities.

Key Points: 
  • "LONGi strives to be a key player in addressing climate challenges and fostering a more eco-friendly and equitable future through both research and development of solar technology and in our partnerships and sustainability commitments."
  • The need to embrace renewable energy across all nations was front and center at the summit.
  • Some 123 countries signed the Global Renewables and Energy Efficiency Pledge, which pledges to "triple the world's installed renewable energy generation capacity to at least 11,000 GW by 2030".
  • Also in alignment with the Global Renewables and Energy Efficiency Pledge, LONGi published its third climate action white paper at COP28.

Curaleaf Announced Reorganization of its U.S. Operations in Connection with TSX Listing

Retrieved on: 
Saturday, December 9, 2023

NEW YORK, Dec. 8, 2023 /PRNewswire/ -- Curaleaf Holdings, Inc. (CSE: CURA / OTCQX: CURLF) ("Curaleaf" or the "Company"), a leading international provider of consumer products in cannabis, today announced that, in connection with the previously announced conditional approval of the Toronto Stock Exchange ("TSX") to list the Company's subordinate voting shares (the "Subordinate Voting Shares") on the TSX (the "TSX Listing"), the Company proceeded with the necessary internal reorganization (the "Reorganization") of its U.S. operations.

Key Points: 
  • NEW YORK, Dec. 8, 2023 /PRNewswire/ -- Curaleaf Holdings, Inc. (CSE: CURA / OTCQX: CURLF) ("Curaleaf" or the "Company"), a leading international provider of consumer products in cannabis, today announced that, in connection with the previously announced conditional approval of the Toronto Stock Exchange ("TSX") to list the Company's subordinate voting shares (the "Subordinate Voting Shares") on the TSX (the "TSX Listing"), the Company proceeded with the necessary internal reorganization (the "Reorganization") of its U.S. operations.
  • Prior to the Investment, the Company held common stock of Curaleaf USA, representing 100% of the issued and outstanding shares of Curaleaf USA.
  • The Company holds all of the issued and outstanding Class B Non-Voting Stock, which represent 99.9% of the economic ownership of Curaleaf USA, on an as-converted basis.
  • Copies of the Indenture, as amended, the amended and restated articles of Curaleaf, the Shareholders Agreement and the Protection Agreement will also be made available under the Company's profile on SEDAR+.

Envision Healthcare Successfully Emerges from Financial Restructuring Process

Retrieved on: 
Friday, November 3, 2023

Envision Healthcare, a leading medical group, announced today it has successfully completed and emerged from its restructuring process with a markedly strengthened capital structure to support its growth as a leading medical group.

Key Points: 
  • Envision Healthcare, a leading medical group, announced today it has successfully completed and emerged from its restructuring process with a markedly strengthened capital structure to support its growth as a leading medical group.
  • In connection with emergence, Envision Healthcare and AMSURG separated into two stand-alone entities with separate leadership teams and owner groups.
  • “Envision continues to deliver high-performing services for our patients, hospital partners and the communities we serve,” said Envision Chief Executive Officer Jim Rechtin.
  • “Now that our financial restructuring has been completed successfully, we are driving Envision’s future growth from a position of stability and strength.