Royal Bank | Jotup

AdTheorent Holding Company, Inc. Enters into Agreement to be Acquired by Cadent, LLC for Approximately $324 Million Representing $3.21 Per Share

Retrieved on:

Monday, April 1, 2024

McDermott Will & Emery, Partnership, LLP, Acquisition, Disclosure, Royal Bank, Investment, Royal Bank of Canada, Machine learning, Canaccord Genuity

Upon closing of the transaction, AdTheorent will become a privately held company.

Key Points:

Upon closing of the transaction, AdTheorent will become a privately held company.
Under the terms of the definitive merger agreement, which has been unanimously approved by AdTheorent’s Board of Directors (the “Board”), the Company’s common stockholders will receive cash consideration of $3.21 per share.
The definitive merger agreement also includes a 33-day “go shop” period that will allow the Company to affirmatively solicit alternative proposals from interested parties.
Moelis & Company LLC is acting as lead financial advisor, and Baker Botts LLP is providing legal counsel to Cadent.

AirBoss Announces Amendment to Credit Facilities

Retrieved on:

Wednesday, March 27, 2024

J. P. Morgan, Growth, National Bank of Canada, Bank, Public expenditure, Toronto-Dominion Bank, Bank of Montreal, Royal Bank, Adjustment, Commerce, TSX, Royal Bank of Canada, National bank, BOS, Comerica, CAD, Pet industry

NEWMARKET, Ontario, March 27, 2024 (GLOBE NEWSWIRE) -- AirBoss of America Corp. (TSX: BOS) (OTCQX:ABSSF) (the “Company” or “AirBoss”) today announced that it has amended its senior secured revolving credit facilities.

Key Points:

NEWMARKET, Ontario, March 27, 2024 (GLOBE NEWSWIRE) -- AirBoss of America Corp. (TSX: BOS) (OTCQX:ABSSF) (the “Company” or “AirBoss”) today announced that it has amended its senior secured revolving credit facilities.
Key changes include the following:
A downsizing of the credit facility from US$250 million to US$150 million in 2024 and 2025, and US$175 million thereafter;
Commencing with dividends payable after April 2024, the Company will pay a maximum quarterly dividend of CAD$1.0 million, until the end of 2025;
A maximum of US$10 million in 2024 and US$20 million in 2025, of capital expenditures, unless approved by the lenders; and
Replacing the leverage and interest coverage ratios with minimum Adjusted EBITDA and liquidity requirements, and excluding certain charges from the calculation of Adjusted EBITDA, until the end of 2024.
“We appreciate the continued support of our syndicate of lenders,” said Chris Bitsakakis, President and Co-CEO of AirBoss.
“While these amendments require some adjustments to our dividend and capital expenditure policies, we believe they are in the best interest of our shareholders and other stakeholders as they will enable us to invest in our long-term growth and create sustainable value while prioritizing deleveraging, continuing our goal of transforming AirBoss into a global market leader in the custom rubber compounding market and the industries which we serve.”
The syndicate of lenders remains The Toronto-Dominion Bank, as sole lead arranger, National Bank of Canada, Comerica Bank, J.P. Morgan, Bank of Montreal, Canadian Imperial Bank of Commerce and Royal Bank of Canada.

Silver Lake to Take Endeavor Private

Retrieved on:

Tuesday, April 2, 2024

Silver Lake believes that when consolidating all of TKO’s value into Endeavor, the combined total enterprise value of $25 billion will make this the largest private equity sponsor public-to-private investment transaction in over a decade, and the largest ever in the media and entertainment sector.

Key Points:

Silver Lake believes that when consolidating all of TKO’s value into Endeavor, the combined total enterprise value of $25 billion will make this the largest private equity sponsor public-to-private investment transaction in over a decade, and the largest ever in the media and entertainment sector.
On the unaffected date, the equity value was $8.2 billion, and the premium to be paid by Silver Lake represents $4.6 billion more equity value to all Endeavor stockholders.
Ariel Emanuel, CEO of Endeavor, said: "Since 2012, Endeavor’s strategic partnership with Silver Lake and Egon Durban have been central to our evolution into the global sports and entertainment leader we are today.
Egon, Stephen, and the broader Silver Lake team have been and will continue to be phenomenal partners in Endeavor’s journey, and we look forward to the road ahead.”
Stephen Evans, Managing Director of Silver Lake and a Director of Endeavor, said: “The team at Silver Lake is proud of our longstanding partnership with Endeavor, marked by more than $3.5 billion of direct investment across six distinct transactions over 12 years.

AM Best Affirms Credit Ratings of RBC Life Insurance Company

Retrieved on:

Wednesday, March 27, 2024

Banking, Professional Services, Insurance, Finance, Risk management, Life, ALL, News, RBC, Royal Bank, Credit, AM Best, Royal Bank of Canada, CAD

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of RBC Life Insurance Company (RBC Life) (Mississauga, Ontario).

Key Points:

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of RBC Life Insurance Company (RBC Life) (Mississauga, Ontario).
RBC Life is owned ultimately by Royal Bank of Canada (RBC), the largest bank in Canada, as measured by market capitalization.
Although RBC Life benefits from its relationship to RBC, the ratings of RBC Life currently do not receive any explicit notching for lift.
For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .

North American Helium Provides Operations and Business Update

Retrieved on:

Tuesday, March 19, 2024

North American Helium Inc. (“NAH” or the “Company”) today announced several updates supporting the continued growth of its business, including plans to add two additional helium purification facilities in Saskatchewan.

Key Points:

North American Helium Inc. (“NAH” or the “Company”) today announced several updates supporting the continued growth of its business, including plans to add two additional helium purification facilities in Saskatchewan.
Mr. Nicholas Snyder, Chairman and CEO stated, “We are excited to continue increasing our production of reliable and sustainable helium supply in North America.
While the most recent global shortage has eased in recent months, the world continues to grapple with major risks to other global sources of helium.
The expanded capacity of our credit facility reflects the Company’s success to date and provides ample financial capacity to fund ongoing growth initiatives.”

BestEx Research Appoints Anthony Huck Global Head of Business Development as New Asset Classes and Regions are Planned for Launch

Retrieved on:

Thursday, April 4, 2024

Citadel, Research, Mathematics, Growth, ITG, Business development, Acquisition, University, Head, Royal Bank, AMS, TCA, Royal Bank of Scotland, Cryptocurrency

Tony is tasked with expanding BestEx Research's award-winning execution algorithms for equities and futures, as well as new asset classes and regions planned for launch later this year.

Key Points:

Tony is tasked with expanding BestEx Research's award-winning execution algorithms for equities and futures, as well as new asset classes and regions planned for launch later this year.
"At this stage of our growth, we are positioned to run farther and faster this year than ever before.
Tony's proven success in developing and scaling businesses across asset classes and regions make him exceptionally qualified to drive our expansion."
He joins BestEx Research with more than 35 years of experience in portfolio, electronic, and algorithmic trading in equities, futures, and options.

iSeatz Adds Enterprise Loyalty Experts to its Executive Team

Retrieved on:

Thursday, April 4, 2024

NEW ORLEANS, April 4, 2024 /PRNewswire/ -- iSeatz, a leading provider of travel loyalty technology solutions for major airline, hotel, and financial services companies, today announced that Larry Wine and Dave Parsons have joined its executive team, adding substantial enterprise loyalty expertise to an already robust leadership group. Wine has been named as the company's new President, and Parsons assumes the role of Chief Customer Officer, both focused on new client growth in key market segments.

Key Points:

Both are veterans of Bridge2 Solutions, an enterprise loyalty SaaS company acquired by InterContinental Exchange/Bakkt in 2020.
Their experience and expertise in this field will offer an invaluable strategic advantage as iSeatz expands its Loyalty-as-a-Service (LaaS) capabilities.
"Dave and I are thrilled to formally join the iSeatz team," said Wine, speaking for the pair of new executives.
For more information about the iSeatz executive team and growth strategies, or to speak with Kenneth Purcell, CEO of iSeatz, please contact [email protected] .

Northwind Group Welcomes Robert Kalish as Managing Director, Head of Capital Markets

Retrieved on:

Wednesday, March 27, 2024

Royal Bank of Scotland, NatWest Markets, Royal Bank, Knowledge, Capital market, RBS, Health care, CRE, KPG

NEW YORK, March 27, 2024 /PRNewswire/ -- Northwind Group, a Manhattan-based real estate private equity firm and debt fund manager, announced today the appointment of Robert Kalish as the company's Managing Director, Head of Capital Markets. In this role, Kalish will lead Northwind's capital markets, fund raising, capital formation and business development initiatives. Kalish will report to Founder and Managing Partner Ran Eliasaf and work closely with the leadership team to oversee company growth. Kalish is well respected in the financial services sector and brings years of experience across multiple alternative investment asset classes and strategies. Over his career, Kalish spearheaded capital formations with about $3B of capital raised across alternative products.

Key Points:

NEW YORK, March 27, 2024 /PRNewswire/ -- Northwind Group , a Manhattan-based real estate private equity firm and debt fund manager, announced today the appointment of Robert Kalish as the company's Managing Director, Head of Capital Markets.
In this role, Kalish will lead Northwind's capital markets, fund raising, capital formation and business development initiatives.
Kalish will report to Founder and Managing Partner Ran Eliasaf and work closely with the leadership team to oversee company growth.
Over his career, Kalish spearheaded capital formations with about $3B of capital raised across alternative products.

Houseful survey shows younger first-time homebuyers in Canada are successfully navigating a challenging housing market and purchasing ahead of their schedule by making more trade-offs

Retrieved on:

Thursday, March 21, 2024

Royal Bank of Canada, RBC, Judgement, Royal Bank, Housing, Happiness, Real estate

To understand how first-time homebuyers in Canada are making those decisions, Houseful, an RBC company, released its First-Time Homebuyer Trade-Off Survey.

Key Points:

To understand how first-time homebuyers in Canada are making those decisions, Houseful, an RBC company, released its First-Time Homebuyer Trade-Off Survey.
Younger first-time homebuyers in Canada are navigating the housing market with a pragmatic approach – by being more open with their preferences.
Most younger first-time homebuyers are also open to living more than 25 kilometres away from a large city (56.2 per cent).
The Houseful survey findings show that first-time homebuyers in Canada have a multitude of considerations and pathways to home ownership.

RBC iShares launches three new ETF Series of RBC Funds, expanding lineup of actively managed fixed income solutions

Retrieved on:

Wednesday, March 20, 2024

Reward, Head, ETF, Risk, RBC, Royal Bank, Prospectus, Investment, Royal Bank of Canada, IShares, Financial adviser

RBC iShares aims to help clients achieve their investment objectives by empowering them to build efficient portfolios and take control of their financial futures.

Key Points:

RBC iShares aims to help clients achieve their investment objectives by empowering them to build efficient portfolios and take control of their financial futures.
RBC iShares is committed to delivering a truly differentiated ETF experience and positive outcomes for clients.
RBC iShares ETFs are comprised of RBC ETFs and ETF Series of RBC Funds managed by RBC Global Asset Management Inc. and iShares ETFs managed by BlackRock Asset Management Canada Limited ("BlackRock Canada").
ETF Series is a class of securities offered by a conventional mutual fund however, unlike conventional mutual fund series, ETF Series are bought and sold at market price on a stock exchange like an ETF.