Corporate action

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

Retrieved on:

Wednesday, December 13, 2023

Hydrogen, Carbon, Research, Climate change, COP28, Filippo Grandi, Solar energy, Conclusion, LONGi, UNHCR, Corporate action, Partnership, UNFCCC, United Nations Global Compact, Electricity, Renewable energy

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

Odyssey, Protection, CSE, Investment, Canadian Securities Administrators, Toronto Stock Exchange, Cannabis, Public expenditure, Uncertainty, Class, Gentlemen's agreement, Hierarchy, Corporate action, Shareholder, TSX, Security (finance), Indenture, Curaleaf

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

General Health, Other Health, Hospitals, Health, Managed Care, United States bankruptcy court, Trust, Growth, Patient, Envision, Health care, Envision Healthcare, Corporate action, Pharmaceutical industry, Management

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.

Core Scientific Announces Agreement in Principle with Key Constituencies in its Chapter 11 Cases

Retrieved on:

Monday, October 30, 2023

Professional Services, Data Management, Blockchain, Technology, Cryptocurrency, Software, Fintech, Documentation, Disclosure, OTC, Equity, Title 11 of the United States Code, Standardized Natural Hazards Disclosure Statement, Science, Debtor, Corporate action, Financial services, Core

Core Scientific, Inc. (OTC: CORZQ) (“Core Scientific” or “the Company”), a leader in high-performance blockchain computing data centers and software solutions, today announced the Company and certain of its affiliates (collectively, the “Debtors”) have reached an agreement in principle (the “Restructuring Term Sheet”) with the Ad Hoc Noteholder Group and the Equity Committee regarding the terms of a chapter 11 plan of reorganization.

Key Points:

Core Scientific, Inc. (OTC: CORZQ) (“Core Scientific” or “the Company”), a leader in high-performance blockchain computing data centers and software solutions, today announced the Company and certain of its affiliates (collectively, the “Debtors”) have reached an agreement in principle (the “Restructuring Term Sheet”) with the Ad Hoc Noteholder Group and the Equity Committee regarding the terms of a chapter 11 plan of reorganization.
The agreement in principle is subject to the finalization of the Debtors’ Third Amended Joint Chapter 11 Plan of Reorganization of Core Scientific, Inc. and its Debtor Affiliates and a related Disclosure Statement, and the execution of a restructuring support agreement (the “Restructuring Support Agreement”) and other definitive documentation, which the Debtors expect to enter into with the Ad Hoc Noteholder Group and the Equity Committee in the coming days.
The Restructuring Support Agreement, if and when executed by the Debtors, the Ad Hoc Noteholder Group and the Equity Committee, is expected to include terms consistent with those terms set forth in the Restructuring Term Sheet.
The agreement in principle can be found on the SEC’s website, https://www.sec.gov/edgar , and on the Investors section of the Core Scientific website: https://investors.corescientific.com/investors/financials/sec-filings/de...
Core Scientific’s management continues to work toward emergence by the end of the current calendar year.

Digital Realty Successfully Resolves Relationship with Cyxtera

Retrieved on:

Wednesday, November 1, 2023

Digital, NYSE, Digital Realty, Estate, Bankruptcy, Chapter 11, Title 11, United States Code, Weil, Gotshal & Manges, Corporate action, Real estate, Cryptocurrency

AUSTIN, Texas, Nov. 1, 2023 /PRNewswire/ -- Digital Realty (NYSE: DLR), the largest global provider of cloud- and carrier-neutral data center, colocation and interconnection solutions, announced today definitive agreements with Brookfield Infrastructure Partners L.P. and its institutional partners ("Brookfield"), Cyxtera Technologies ("Cyxtera") and Digital Core REIT that successfully resolves the relationships with Cyxtera. These agreements were completed in conjunction with Brookfield's announced agreement to acquire Cyxtera, pursuant to its Plan of Reorganization under its Chapter 11 proceedings and remain subject to bankruptcy court and regulatory approval, and include:

Key Points:

AUSTIN, Texas, Nov. 1, 2023 /PRNewswire/ -- Digital Realty (NYSE: DLR), the largest global provider of cloud- and carrier-neutral data center, colocation and interconnection solutions, announced today definitive agreements with Brookfield Infrastructure Partners L.P. and its institutional partners ("Brookfield"), Cyxtera Technologies ("Cyxtera") and Digital Core REIT that successfully resolves the relationships with Cyxtera.
Digital Realty to redeploy $55 million to buy out Cyxtera's leases in three colocation data centers in Singapore and Frankfurt.
"We are pleased to have worked with Digital Core REIT and Brookfield to successfully resolve our relationship with Cyxtera.
"By partnering with our sponsor, Digital Core REIT realized a comprehensive resolution to our relationship with our second-largest customer," said Digital Core REIT CEO John Stewart.

First Trust Advisors Announces Proposed Reorganization of Four First Trust Advised Closed-End Funds into Three abrdn Advised Closed-End Funds

Retrieved on:

Monday, October 23, 2023

Each Acquired Fund Board believes that the applicable Reorganization is in the best interest of the Acquired Fund.

Key Points:

Each Acquired Fund Board believes that the applicable Reorganization is in the best interest of the Acquired Fund.
Each Reorganization is intended to be treated as tax-free reorganization for U.S. federal income tax purposes.
Each Reorganization is a separate transaction, and no Reorganization is contingent upon any other Reorganization.
In the United States, abrdn is the marketing name for the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, abrdn Asia Limited, abrdn Private Equity (Europe) Limited and abrdn ETFs Advisors LLC.

RVL Pharmaceuticals plc Announces Prepackaged Reorganization of Certain U.S. Subsidiaries

Retrieved on:

Thursday, October 12, 2023

Bankruptcy, Pharmacy, Interest, LLP, RVL, Ernst & Young, Corporate action, Growth, United States bankruptcy court, United States Bankruptcy Court for the Southern District of New York, Ropes & Gray, Blepharoplasty, Patient, Security (finance), Financial services, Athyrium

BRIDGEWATER, N.J., Oct. 12, 2023 (GLOBE NEWSWIRE) -- RVL Pharmaceuticals plc (“RVL” or “the Company”), a specialty pharmaceutical company focused on the commercialization of UPNEEQ® (oxymetazoline hydrochloride ophthalmic solution), 0.1%, for the treatment of acquired blepharoptosis, or droopy eyelid, in adults, today announced that certain of its U.S. operating subsidiaries, RevitaLid Pharmaceutical Corp., RVL Pharmaceuticals, Inc. and RVL Pharmacy, LLC (the “RVL Subsidiaries”), have reached an agreement with their sole secured lenders, funds managed by Athyrium Capital Management (“Athyrium”), and other key stakeholders, to effectuate a change of control transaction through prepackaged bankruptcy cases commenced in the United States Bankruptcy Court for the District of Delaware today (the “Reorganization”). The Reorganization provides a structured pathway for the RVL Subsidiaries to significantly reduce their debt, while enabling them to streamline operations, maintain jobs and position themselves under new ownership. As a result of the Reorganization, RVL is expected to commence the wind-down of any remaining operations of the Company and its subsidiaries, other than the RVL Subsidiaries. RVL’s public equity is expected to be cancelled upon completion of its wind-down, anticipated to be during 2024, likely resulting in no recovery to public shareholders.

Key Points:

The Reorganization provides a structured pathway for the RVL Subsidiaries to significantly reduce their debt, while enabling them to streamline operations, maintain jobs and position themselves under new ownership.
As a result of the Reorganization, RVL is expected to commence the wind-down of any remaining operations of the Company and its subsidiaries, other than the RVL Subsidiaries.
The Reorganization contemplates that all of RVL Subsidiaries’ vendors, suppliers, and customers will be unaffected by the Reorganization, and their employees will remain employed by these entities.
The RVL Subsidiaries have filed a series of “First Day Motions” with the United States Bankruptcy Court for the District of Delaware.

Unrivaled Brands Files S-4; Announces Corporate Reorganization to become Blüm

Retrieved on:

Tuesday, October 10, 2023

Annual general meeting, OTCQB, Reverse stock split, Proxy, Prospectus, Form, Corporate action, NUALS Arts and Literary Annual Meet, Exchange, Securities and Exchange Commission (Philippines), Sale, WHEN, Suite, Security (finance), Holding company, Unrivaled, Shareholder

SANTA ANA, Calif., Oct. 10, 2023 (GLOBE NEWSWIRE) -- Unrivaled Brands, Inc. (OTCQB: UNRV) (“Unrivaled,” “Unrivaled Brands,” or the “Company”), a Nevada cannabis company with operations throughout California, announced today that it intends to implement a reorganization in which a new Delaware holding company, Blum Holdings, Inc. (“Blüm”), would become the publicly traded holding company of Unrivaled Brands and its subsidiaries (the “Reorganization”).

Key Points:

SANTA ANA, Calif., Oct. 10, 2023 (GLOBE NEWSWIRE) -- Unrivaled Brands, Inc. (OTCQB: UNRV) (“Unrivaled,” “Unrivaled Brands,” or the “Company”), a Nevada cannabis company with operations throughout California, announced today that it intends to implement a reorganization in which a new Delaware holding company, Blum Holdings, Inc. (“Blüm”), would become the publicly traded holding company of Unrivaled Brands and its subsidiaries (the “Reorganization”).
Any outstanding securities convertible or exercisable for shares of Unrivaled common stock will become securities convertible or exercisable for shares of Blüm common stock.
In connection with the Reorganization, Blüm has filed a registration statement on Form S-4 that includes a preliminary proxy statement of Unrivaled Brands and a preliminary prospectus of Blüm, and Unrivaled Brands and Blüm may file with the SEC other relevant documents in connection with the proposed Reorganization.
Unrivaled Brands and its directors, executive officers and certain other members of management and employees may be deemed to be participants in the solicitation of proxies from Unrivaled Brands’ stockholders in connection with the Reorganization.

Brookfield Public Securities Group LLC Announces Closing of the Reorganization of Center Coast Brookfield MLP & Energy Infrastructure Fund into Center Coast Brookfield Midstream Focus Fund

Retrieved on:

Monday, October 9, 2023

Corporate action, CEN, NYSE, Financial services

NEW YORK, Oct. 09, 2023 (GLOBE NEWSWIRE) -- Brookfield Public Securities Group LLC (“Brookfield”) announced today that the reorganization of Center Coast Brookfield MLP & Energy Infrastructure Fund (NYSE: CEN) into Center Coast Brookfield Midstream Focus Fund (the “Focus Fund”) (the “Reorganization”) was completed prior to the open of the New York Stock Exchange on October 9, 2023.

Key Points:

NEW YORK, Oct. 09, 2023 (GLOBE NEWSWIRE) -- Brookfield Public Securities Group LLC (“Brookfield”) announced today that the reorganization of Center Coast Brookfield MLP & Energy Infrastructure Fund (NYSE: CEN) into Center Coast Brookfield Midstream Focus Fund (the “Focus Fund”) (the “Reorganization”) was completed prior to the open of the New York Stock Exchange on October 9, 2023.
In the Reorganization, the Focus Fund acquired all of the assets and liabilities of CEN in a tax-free transaction in exchange solely for Class I (CCCNX) shares.
CCCNX shares issued to CEN stockholders have an aggregate net asset value equal to the aggregate net asset value of CEN’s common shares outstanding as of the close of trading on October 6, 2023.
Each stockholder of CEN received the number of CCCNX shares corresponding to his or her proportionate interest in the common shares of CEN, less the costs of the Reorganization.

Central Valley Community Bancorp and Community West Bancshares to Merge

Retrieved on:

Wednesday, October 11, 2023

Central Valley Community Bancorp (Central Valley), (NASDAQ: CVCY), headquartered in Fresno, California, together with its banking subsidiary, Central Valley Community Bank (CVCB) and Community West Bancshares (Community West) (NASDAQ: CWBC), parent company of Community West Bank (CWB), headquartered in Goleta, California, announced today the signing of an Agreement of Reorganization and Merger, dated October 10, 2023, pursuant to which the companies will combine in an all-stock merger transaction.

Key Points:

Central Valley Community Bancorp (Central Valley), (NASDAQ: CVCY), headquartered in Fresno, California, together with its banking subsidiary, Central Valley Community Bank (CVCB) and Community West Bancshares (Community West) (NASDAQ: CWBC), parent company of Community West Bank (CWB), headquartered in Goleta, California, announced today the signing of an Agreement of Reorganization and Merger, dated October 10, 2023, pursuant to which the companies will combine in an all-stock merger transaction.
Under the terms of the agreement, Community West Bancshares will merge with and into Central Valley Community Bancorp and Community West Bank will merge with and into Central Valley Community Bank.
Under the terms of the agreement, Community West Bancshares shareholders will be entitled to receive 0.79 shares of Central Valley Community Bancorp common stock for each share of Community West Bancshares common stock.
“Central Valley Community Bank has steadily and profitably grown for over 43 years, building a highly attractive franchise in California’s San Joaquin Valley and Greater Sacramento region,” said James J. Kim, President and CEO of Central Valley Community Bancorp and Central Valley Community Bank.