Oliver Cromwell

Wolf Popper LLP Is Investigating Senior Management and the Board of Directors of B. Riley, Inc. for Potential Breaches of Fiduciary Duty

Retrieved on: 
Monday, February 26, 2024

NEW YORK, Feb. 26, 2024 (GLOBE NEWSWIRE) -- Wolf Popper LLP is investigating potential claims on behalf of shareholders of B. Riley, Inc. (“B.

Key Points: 
  • NEW YORK, Feb. 26, 2024 (GLOBE NEWSWIRE) -- Wolf Popper LLP is investigating potential claims on behalf of shareholders of B. Riley, Inc. (“B.
  • Riley”) (NASDAQ: RILY) against B. Riley’s Board of Directors and members of its senior management concerning B. Riley’s relationship with Brian Kahn, Chief Executive Officer of Franchise Group, Inc. (“FRG”).
  • In May 2023, B. Riley entered into an agreement to assist Brian Kahn in leading a management buyout of FRG.
  • Wolf Popper’s expertise has been repeatedly recognized by courts that have appointed the firm to major positions in securities litigation.

AlTi Tiedemann Global welcomes strategic investment of up to $450m from Allianz X and Constellation Wealth Capital

Retrieved on: 
Thursday, February 22, 2024

AlTi Global, Inc. (NASDAQ: ALTI), a leading independent global wealth and alternatives manager with approximately $68 billion in combined assets, today announced a strategic investment of up to $450 million by Allianz X and Constellation Wealth Capital (“CWC”).

Key Points: 
  • AlTi Global, Inc. (NASDAQ: ALTI), a leading independent global wealth and alternatives manager with approximately $68 billion in combined assets, today announced a strategic investment of up to $450 million by Allianz X and Constellation Wealth Capital (“CWC”).
  • CWC, an investment advisory firm specializing in making investments in industry-leading wealth managers, will invest $150 million.
  • AlTi will use the capital principally to fund its mergers and acquisitions (“M&A”) pipeline and organic growth activities.
  • Michael Tiedemann, Chief Executive Officer of AlTi Tiedemann Global, said:
    “This investment accelerates AlTi’s trajectory to become the leading global independent UHNW wealth management platform, with strategic and targeted expertise in alternatives.

NEW YORK COMMUNITY BANCORP, INC. ANNOUNCES OVER $1 BILLION EQUITY INVESTMENT ANCHORED BY FORMER U.S. TREASURY SECRETARY STEVEN MNUCHIN'S LIBERTY STRATEGIC CAPITAL, HUDSON BAY AND REVERENCE CAPITAL

Retrieved on: 
Wednesday, March 6, 2024

HICKSVILLE, N.Y., March 6, 2024 /PRNewswire/ -- New York Community Bancorp, Inc. (NYSE: NYCB) ("NYCB" or the "Company") today announced that Liberty Strategic Capital ("Liberty"), Hudson Bay Capital ("Hudson Bay"), Reverence Capital Partners ("Reverence Capital"), Citadel Securities ("Citadel"), other institutional investors and certain members of the Company's management (collectively, the "Investors") will make a combined over $1 billion investment in the Company, subject to finalization of definitive documentation and receipt of applicable regulatory approvals. Liberty is expected to invest $450 million, Hudson Bay will invest $250 million, and Reverence will invest $200 million as part of the transaction.  

Key Points: 
  • Liberty is expected to invest $450 million, Hudson Bay will invest $250 million, and Reverence will invest $200 million as part of the transaction.
  • Secretary Steven Mnuchin stated, "In evaluating this investment, we were mindful of the Bank's credit risk profile.
  • We enter this next chapter with a strong balance sheet and liquidity position supported by a diversified and retail focused deposit base.
  • Sullivan & Cromwell LLP is serving as legal counsel to Liberty Strategic Capital.

CFGI Announces Appointment of Jay Clayton to Board of Directors

Retrieved on: 
Tuesday, March 5, 2024

Co-CEOs Shane Caiazzo and Nicholas Nardone express their enthusiasm, stating, "We are thrilled and honored to welcome Jay to our Board.

Key Points: 
  • Co-CEOs Shane Caiazzo and Nicholas Nardone express their enthusiasm, stating, "We are thrilled and honored to welcome Jay to our Board.
  • Mr. Clayton commented, "I have been following the work of CFGI and am impressed with what they offer the business community.
  • I look forward to working with Nick, Shane, and the CFGI Board of Directors."
  • His extensive background, diverse roles, and wealth of experience make him a valuable addition to CFGI's dynamic and forward-thinking Board of Directors.

CFGI Announces Appointment of Jay Clayton to Board of Directors

Retrieved on: 
Tuesday, March 5, 2024

Co-CEOs Shane Caiazzo and Nicholas Nardone express their enthusiasm, stating, "We are thrilled and honored to welcome Jay to our Board.

Key Points: 
  • Co-CEOs Shane Caiazzo and Nicholas Nardone express their enthusiasm, stating, "We are thrilled and honored to welcome Jay to our Board.
  • Mr. Clayton commented, "I have been following the work of CFGI and am impressed with what they offer the business community.
  • I look forward to working with Nick, Shane, and the CFGI Board of Directors."
  • His extensive background, diverse roles, and wealth of experience make him a valuable addition to CFGI's dynamic and forward-thinking Board of Directors.

DraftKings Reaches Agreement to Acquire Jackpocket for $750 Million

Retrieved on: 
Thursday, February 15, 2024

“We are very excited to enter the rapidly growing U.S. digital lottery vertical with our acquisition of Jackpocket,” said Jason Robins, Co-founder and CEO of DraftKings.

Key Points: 
  • “We are very excited to enter the rapidly growing U.S. digital lottery vertical with our acquisition of Jackpocket,” said Jason Robins, Co-founder and CEO of DraftKings.
  • The Merger Agreement and the Proposed Transaction have been approved by the Boards of Directors of each of DraftKings and Jackpocket, as well as Jackpocket’s stockholders.
  • Goldman Sachs & Co. LLC served as exclusive financial advisor to DraftKings, and Sullivan & Cromwell LLP served as legal counsel to DraftKings.
  • The Raine Group served as exclusive financial advisor to Jackpocket, and Cooley LLP served as legal counsel to Jackpocket.

GRAINGER REPORTS RESULTS FOR THE FOURTH QUARTER AND FULL YEAR 2023

Retrieved on: 
Friday, February 2, 2024

CHICAGO, Feb. 2, 2024 /PRNewswire/ -- Grainger (NYSE: GWW) today reported results for the fourth quarter and full year 2023. Sales of $4.0 billion in the fourth quarter 2023 increased 5.1%, or 5.5% on a daily, organic constant currency basis versus the fourth quarter of 2022. For the full year, sales of $16.5 billion increased 8.2%, or 9.5% on a daily, organic constant currency basis compared to the prior year.

Key Points: 
  • For the fourth quarter of 2023, total Company sales on a reported and daily basis increased 5.1% compared to the fourth quarter of 2022.
  • For the fourth quarter of 2023, total Company gross profit margin was 39.1%, down 50 basis points compared to the fourth quarter of 2022.
  • Diluted EPS for the fourth quarter of 2023 was $7.89 on a reported basis, up 4.7% versus the fourth quarter of 2022.
  • For the fourth quarter of 2023, the reported effective tax rate was 23.8% compared to 24.3% in the fourth quarter of 2022.

ProSearch to Share Discovery Innovations, Insights on Strengthening Data Culture at Legalweek 2024

Retrieved on: 
Thursday, January 18, 2024

ProSearch thought leaders will share solutions for the most important data challenges lawyers and discovery professionals face in litigation, regulatory, privacy, and other legal matters.

Key Points: 
  • ProSearch thought leaders will share solutions for the most important data challenges lawyers and discovery professionals face in litigation, regulatory, privacy, and other legal matters.
  • From Microsoft 365, chat, messaging, and privacy to virtual reality interactions, ProSearch tech-enabled discovery services help leading organizations extract business value from modern digital information.
  • With ProSearch Review , a dedicated review team uses tailored, AI-enabled workflows to accelerate review, enhance accuracy, and minimize human touches by up to 60%.
  • ProSearch will also have meetings and learning sessions in its private suites, where company experts will share ProSearch solutions for tackling eDiscovery challenges related to AI-enabled review, collaborate data, Microsoft 365, and data privacy.

AST SpaceMobile Secures Strategic Investment From AT&T, Google and Vodafone

Retrieved on: 
Thursday, January 18, 2024

AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, today announced strategic investment from AT&T, Google and Vodafone and aggregate new financing of up to $206.5 million in gross proceeds.

Key Points: 
  • AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, today announced strategic investment from AT&T, Google and Vodafone and aggregate new financing of up to $206.5 million in gross proceeds.
  • AST SpaceMobile currently operates the largest-ever commercial communications array in low Earth orbit, the BlueWalker 3 satellite.
  • Abel Avellan, Chairman and CEO of AST SpaceMobile, said, “Our vision at AST SpaceMobile has always been to chart a course of collaborative innovation and integration with the world's leading wireless companies, which is why we are so thrilled to be welcoming this new strategic investment from AT&T, Google and Vodafone.
  • In addition to the strategic investment, the new investors expanded their strategic and commercial ties to support the buildout of the SpaceMobile network, including:
    Vodafone and AT&T have placed purchase orders for network equipment from AST SpaceMobile to support planned commercial service, for an undisclosed amount
    Google and AST SpaceMobile agreed to collaborate on product development, testing and implementation plans for SpaceMobile network connectivity on Android and related devices
    UBS Investment Bank, Barclays and Quilty Space acted as financial advisers to AST SpaceMobile on the strategic investment, with Sullivan & Cromwell LLP serving as legal counsel.

FirstSun Capital Bancorp and HomeStreet, Inc. Announce Transformational Strategic Merger and $175 Million Equity Raise

Retrieved on: 
Tuesday, January 16, 2024

FirstSun Capital Bancorp (“FirstSun,” or the “Company”) (OTCQX: FSUN), the holding company of Dallas-based Sunflower Bank, N.A.

Key Points: 
  • FirstSun Capital Bancorp (“FirstSun,” or the “Company”) (OTCQX: FSUN), the holding company of Dallas-based Sunflower Bank, N.A.
  • FirstSun also announced today that it has entered into investment agreements with investors to raise capital to support the merger, led by Wellington Management (“Wellington”, and combined the “Investors”).
  • FirstSun is excited about the strategic synergies of this merger and the opportunities created to deliver strong sustainable growth and superior shareholder value creation.
  • The acquisition equity capital is expected to close concurrently with the merger, subject to the concurrent closing of the merger and other closing conditions.