Preferred stock

T2 Biosystems Announces Agreement with CRG for the Conversion of $15 Million of CRG Term Loan into Equity

Retrieved on: 
Thursday, February 15, 2024

LEXINGTON, Mass., Feb. 15, 2024 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes, today announced the entrance into a definitive agreement to convert $15 million of its term loan with entities affiliated with CRG Servicing LLC (“CRG”) into T2 Biosystems equity upon stockholder approval.

Key Points: 
  • LEXINGTON, Mass., Feb. 15, 2024 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes, today announced the entrance into a definitive agreement to convert $15 million of its term loan with entities affiliated with CRG Servicing LLC (“CRG”) into T2 Biosystems equity upon stockholder approval.
  • On February 15, 2024, T2 Biosystems entered into a Securities Purchase Agreement with CRG to facilitate the debt conversion.
  • CRG agreed to waive prepayment premiums and back-end fees associated with such principal amounts of loans exchanged for equity.
  • In October 2023, the CRG Term Loan Agreement was amended to extend the interest-only period and maturity date from December 30, 2024 to December 31, 2025 and to permanently reduce the minimum liquidity covenant from $5 million to $500,000.

Capital Southwest Announces Financial Results for Third Fiscal Quarter Ended December 31, 2023 and Announces Total Dividends of $0.63 per share for the Quarter Ended March 31, 2024

Retrieved on: 
Monday, January 29, 2024

For the quarter ended December 31, 2023, total operating expenses (excluding interest expense) were $7.3 million, compared to $5.9 million in the prior quarter.

Key Points: 
  • For the quarter ended December 31, 2023, total operating expenses (excluding interest expense) were $7.3 million, compared to $5.9 million in the prior quarter.
  • For the quarter ended December 31, 2023, interest expense was $11.5 million as compared to $10.5 million in the prior quarter.
  • For the quarter ended December 31, 2023, total pre-tax net investment income was $29.8 million, compared to $26.4 million in the prior quarter.
  • During the quarter ended December 31, 2023, the Company did not repurchase any shares of the Company’s common stock under the share repurchase program.

Vertex Withdraws Offer to Acquire Pagero

Retrieved on: 
Monday, January 15, 2024

KING OF PRUSSIA, Pa., Jan. 14, 2024 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ: VERX), a global provider of indirect tax solutions, today announced that after thorough review, it has withdrawn its previously announced public tender offer for 100% of the shares of Pagero Group AB (publ) (“Pagero”) following two competing offers and the acquisition by a competing bidder of more than 10 percent of the shares of Pagero.

Key Points: 
  • KING OF PRUSSIA, Pa., Jan. 14, 2024 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ: VERX), a global provider of indirect tax solutions, today announced that after thorough review, it has withdrawn its previously announced public tender offer for 100% of the shares of Pagero Group AB (publ) (“Pagero”) following two competing offers and the acquisition by a competing bidder of more than 10 percent of the shares of Pagero.
  • “Vertex has been a leader in the indirect tax market for 45 years by taking an approach to growth that is both disciplined and aligned with the best interests of our customers and shareholders.
  • Today’s decision reflects those principles,” said Vertex CEO David DeStefano.
  • Pagero shareholders who had undertaken to accept Vertex’s tender offer have been released from those obligations.

Eagle Point Credit Company Inc. Prices Offering of Preferred Stock

Retrieved on: 
Thursday, January 11, 2024

Eagle Point Credit Company Inc. (the “Company”) (NYSE:ECC, ECCC, ECC PRD, ECCV, ECCW, ECCX) today announced that it has priced an underwritten public offering of 1,400,000 shares of its 8.00% Series F Term Preferred Stock due 2029 (the “Preferred Stock”) at a public offering price of $25 per share, which will result in net proceeds to the Company of approximately $33.6 million after payment of underwriting discounts and commissions and estimated offering expenses payable by the Company.

Key Points: 
  • Eagle Point Credit Company Inc. (the “Company”) (NYSE:ECC, ECCC, ECC PRD, ECCV, ECCW, ECCX) today announced that it has priced an underwritten public offering of 1,400,000 shares of its 8.00% Series F Term Preferred Stock due 2029 (the “Preferred Stock”) at a public offering price of $25 per share, which will result in net proceeds to the Company of approximately $33.6 million after payment of underwriting discounts and commissions and estimated offering expenses payable by the Company.
  • The Preferred Stock is rated ‘BBB’ by Egan-Jones Ratings Company, an independent rating agency.
  • In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 210,000 shares of Preferred Stock on the same terms and conditions.
  • The Preferred Stock offering is expected to close on January 18, 2024, subject to customary closing conditions.

Vertex, Inc. Announces Offer to Acquire E-Invoicing Leader Pagero

Retrieved on: 
Wednesday, December 13, 2023

KING of PRUSSIA, Pa., Dec. 13, 2023 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ: VERX), a global provider of indirect tax solutions, today announced that it has commenced a public tender offer for 100% of the shares of Pagero Group AB (publ) (“Pagero”) at a price of 36 SEK in cash per share, equivalent to a total tender value of approximately $555 million1.

Key Points: 
  • “Vertex and Pagero have a shared vision to accelerate global commerce and help companies automate and digitize their compliance operations,” noted Vertex CEO David DeStefano.
  • This press release shall not constitute an offer to buy or a solicitation of an offer to sell any Pagero securities.
  • The full details of the offer, including complete instructions on how to tender Pagero shares, will be included in the offer document.
  • Vertex will host a conference call at 8:30 AM ET / 2:30 PM CET today, December 13, 2023, to discuss the Pagero tender offer.

Gabelli Equity Trust Extends Expiration Date of Tender Offer to January 5, 2024 for Series C and Series E Auction Rate Preferred Stock

Retrieved on: 
Monday, December 11, 2023

RYE, N.Y., Dec. 11, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of The Gabelli Equity Trust Inc. (NYSE: GAB) (the “Fund”) has extended the expiration date of the tender offer (the “Offer”) for all of the Fund’s outstanding Series C Auction Rate Cumulative Preferred Stock and Series E Auction Rate Cumulative Preferred Stock (the “Preferred Stock”) to January 5, 2024.

Key Points: 
  • RYE, N.Y., Dec. 11, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of The Gabelli Equity Trust Inc. (NYSE: GAB) (the “Fund”) has extended the expiration date of the tender offer (the “Offer”) for all of the Fund’s outstanding Series C Auction Rate Cumulative Preferred Stock and Series E Auction Rate Cumulative Preferred Stock (the “Preferred Stock”) to January 5, 2024.
  • This press release is for informational purposes only and shall not constitute an offer or a solicitation to buy any Series C Auction Rate Cumulative Preferred Stock or Series E Auction Rate Cumulative Preferred Stock.
  • The offer to purchase Series C Auction Rate Cumulative Preferred Stock and Series E Auction Rate Cumulative Preferred Stock is being made only pursuant to an offer on Schedule TO.
  • HOLDERS OF SERIES C AUCTION RATE CUMLATIVE PREFERRED STOCK AND SERIES E AUCTION RATE CUMULATIVE PREFERRED STOCK ARE URGED TO READ THE OFFER TO PURCHASE AND ANY SOLICITATION/RECOMMENDATION STATEMENT REGARDING THE OFFER, AS THEY MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, BECAUSE THEY CONTAIN IMPORTANT INFORMATION THAT HOLDERS OF SERIES C AUCTION RATE CUMLATIVE PREFERRED STOCK AND SERIES E AUCTION RATE CUMULATIVE PREFERRED STOCK SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING TENDERING THEIR SHARES.

Gabelli Equity Trust Commences Tender Offer for Series C and Series E Auction Rate Preferred Stock

Retrieved on: 
Wednesday, November 22, 2023

RYE, N.Y., Nov. 22, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of The Gabelli Equity Trust Inc. (NYSE: GAB) (the “Fund”) has authorized a tender offer (the “Offer”) for all of the Fund’s outstanding Series C Auction Rate Cumulative Preferred Stock and Series E Auction Rate Cumulative Preferred Stock (the “Preferred Stock”).

Key Points: 
  • RYE, N.Y., Nov. 22, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of The Gabelli Equity Trust Inc. (NYSE: GAB) (the “Fund”) has authorized a tender offer (the “Offer”) for all of the Fund’s outstanding Series C Auction Rate Cumulative Preferred Stock and Series E Auction Rate Cumulative Preferred Stock (the “Preferred Stock”).
  • This press release is for informational purposes only and shall not constitute an offer or a solicitation to buy any Series C Auction Rate Cumulative Preferred Stock or Series E Auction Rate Cumulative Preferred Stock.
  • The offer to purchase Series C Auction Rate Cumulative Preferred Stock and Series E Auction Rate Cumulative Preferred Stock is being made only pursuant to an offer on Schedule TO.
  • HOLDERS OF SERIES C AUCTION RATE CUMLATIVE PREFERRED STOCK AND SERIES E AUCTION RATE CUMULATIVE PREFERRED STOCK ARE URGED TO READ THE OFFER TO PURCHASE AND ANY SOLICITATION/RECOMMENDATION STATEMENT REGARDING THE OFFER, AS THEY MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, BECAUSE THEY CONTAIN IMPORTANT INFORMATION THAT HOLDERS OF SERIES C AUCTION RATE CUMLATIVE PREFERRED STOCK AND SERIES E AUCTION RATE CUMULATIVE PREFERRED STOCK SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING TENDERING THEIR SHARES.

Final Opportunity to Invest in Doroni Aerospace’s Innovative eVTOL Aircraft on StartEngine

Retrieved on: 
Monday, November 13, 2023

Having already raised over $4.9 million on StartEngine, Doroni is now in the final stretch of this campaign.

Key Points: 
  • Having already raised over $4.9 million on StartEngine, Doroni is now in the final stretch of this campaign.
  • This investment opportunity is key to advancing their vision of sustainable air mobility and signifies a critical phase in the company’s growth.
  • They are focused on realizing the Doroni H1, expanding their team and reinforcing their mission to transform the future of transportation.
  • Doron Merdinger, CEO of Doroni Aerospace, states, “Our journey on StartEngine has connected us with hundreds of thousands of forward-thinking investors.

Ault Alliance Receives an Investment of $41.5 Million from Ault & Company

Retrieved on: 
Friday, December 15, 2023

Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault Alliance,” or the “Company”), today announced the closing of a $41.5 million financing (the “Financing”) with Ault & Company, Inc. (“A&C”), an affiliate of the Company, pursuant to the Securities Purchase Agreement (the “Agreement”) entered into between the Company and A&C on November 6, 2023.

Key Points: 
  • Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company (“Ault Alliance,” or the “Company”), today announced the closing of a $41.5 million financing (the “Financing”) with Ault & Company, Inc. (“A&C”), an affiliate of the Company, pursuant to the Securities Purchase Agreement (the “Agreement”) entered into between the Company and A&C on November 6, 2023.
  • As stewards of both Ault & Company and Ault Alliance, which are led by essentially the same individuals, our leadership team has a unique, dual perspective that reinforces our commitment to this course of action.
  • I remain convinced that Ault Alliance's assets are significantly undervalued, and my macro-outlook for the Company is more robust than ever.
  • For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at www.Ault.com or at www.sec.gov.

General American Investors Company Announces: Actions Taken by the Board of Directors

Retrieved on: 
Wednesday, December 6, 2023

This program is separate from, and in addition to, the common stock repurchase program.

Key Points: 
  • This program is separate from, and in addition to, the common stock repurchase program.
  • The Board of Directors also wishes to announce that the annual shareholder meeting will be held on April 24, 2024 for shareholders of record on February 9, 2024.
  • General American Investors was founded in 1927, has been publicly traded since its inception, and has been listed on the NYSE since 1930.
  • The objective of the Company is long-term capital appreciation through investment in companies with above average growth potential.