Wardwell

Instant Brands Provides Update on Sale Process for its Appliance Business

Retrieved on: 
Wednesday, November 8, 2023

DOWNERS GROVE, Ill., Nov. 8, 2023 /PRNewswire/ -- Instant Brands (the "Company"), maker of consumer favorites like Instant Pot®, Corelle®, Pyrex®, Snapware®, CorningWare®, Visions® and Chicago Cutlery®, today announced that it has completed the previously announced sale of its appliance business to an affiliate of Centre Lane Partners ("Centre Lane").  

Key Points: 
  • "We are pleased to complete the sale of our appliance business to Centre Lane, who we believe is a great home for our appliance business as well as the employees that support it," said Ben Gadbois, President and CEO of Instant Brands.
  • "We strongly believe that with an adequate capital structure, Instant Brands will be in a much stronger position to support its products and continue to launch new innovative products globally.
  • Finally, we want to thank all of our retail partners and suppliers that have continued to support us during this process."
  • Additional information regarding the Company's court-supervised process is available at Instant Brands' restructuring website, InstantBrandsRestructuring.com.

Francisco Partners and TPG Complete Acquisition of New Relic

Retrieved on: 
Wednesday, November 8, 2023

New Relic , the all-in-one observability platform for every engineer, announced that Francisco Partners and TPG have completed their all-cash acquisition of New Relic for $87.00 per share, representing an equity valuation of approximately $6.5 billion.

Key Points: 
  • New Relic , the all-in-one observability platform for every engineer, announced that Francisco Partners and TPG have completed their all-cash acquisition of New Relic for $87.00 per share, representing an equity valuation of approximately $6.5 billion.
  • The acquisition agreement was previously disclosed on July 31, 2023, and approved by New Relic stockholders at a special meeting held on November 1, 2023.
  • Morgan Stanley & Co. LLC acted as lead financial advisor to Francisco Partners and TPG.
  • Davis Polk & Wardwell LLP, Paul Hastings LLP, and Kirkland & Ellis LLP acted as legal counsel to Francisco Partners and TPG.

Korro Bio and Frequency Therapeutics Announce Closing of Merger and Private Placement of $117 Million

Retrieved on: 
Friday, November 3, 2023

J.P. Morgan Securities LLC served as exclusive financial advisor to Korro Bio and lead placement agent on Korro Bio’s private placement.

Key Points: 
  • J.P. Morgan Securities LLC served as exclusive financial advisor to Korro Bio and lead placement agent on Korro Bio’s private placement.
  • BofA Securities, Piper Sandler and RBC Capital Markets also served as placement agents for Korro Bio’s private placement.
  • Goodwin Procter LLP served as legal counsel to Korro Bio and Davis Polk & Wardwell LLP served as the placement agents’ legal counsel.
  • TD Cowen served as exclusive financial advisor to Frequency Therapeutics and Latham & Watkins LLP served as Frequency’s legal counsel.

New Relic Stockholders Approve Acquisition by Francisco Partners and TPG

Retrieved on: 
Thursday, November 2, 2023

New Relic (NYSE: NEWR), the all-in-one observability platform for every engineer, announced that its stockholders have voted to approve the acquisition of New Relic by Francisco Partners and TPG in a special meeting held yesterday.

Key Points: 
  • New Relic (NYSE: NEWR), the all-in-one observability platform for every engineer, announced that its stockholders have voted to approve the acquisition of New Relic by Francisco Partners and TPG in a special meeting held yesterday.
  • As previously announced , under the terms of the merger agreement, New Relic stockholders will receive $87.00 per share in cash for each share of New Relic common stock that they own.
  • Morgan Stanley & Co. LLC is acting as lead financial advisor to Francisco Partners and TPG.
  • Davis Polk & Wardwell LLP, Paul Hastings LLP, and Kirkland & Ellis LLP are acting as legal counsel to Francisco Partners and TPG.

TPG Completes Acquisition of Angelo Gordon

Retrieved on: 
Thursday, November 2, 2023

TPG Inc. (NASDAQ: TPG), a leading global alternative asset management firm, today announced the successful completion of its previously announced acquisition of Angelo Gordon.

Key Points: 
  • TPG Inc. (NASDAQ: TPG), a leading global alternative asset management firm, today announced the successful completion of its previously announced acquisition of Angelo Gordon.
  • Moving forward, Angelo Gordon will operate as TPG Angelo Gordon, a $74 billion[1] diversified credit and real estate investing platform within TPG.
  • “As we continue to operate and invest in dynamic markets, the addition of Angelo Gordon expands our capabilities and creates highly compelling investment opportunities.
  • Goldman Sachs & Co. LLC and Piper Sandler acted as financial advisor to Angelo Gordon and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel.

Air Methods Takes Strategic Steps to Position Business for Long-Term Success

Retrieved on: 
Tuesday, October 24, 2023

DENVER, Oct. 24, 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 entered into a Restructuring Support Agreement (“RSA”) with (i) majorities of its first lien lenders and bondholders and (ii) its equity sponsor under which such key stakeholders have agreed to support an expedited balance sheet restructuring. Implementing the restructuring contemplated by the RSA will reduce the Company’s total debt by approximately $1.7 billion, increase liquidity and position the business for long-term success by allowing it to focus on its growth and development strategies.

Key Points: 
  • We’ve also seen record numbers of transports, and we’ve opened several new bases across the country this year as there is a great demand for air medical services.
  • The prepackaged Chapter 11 process provides an orderly forum for Air Methods to implement the balance sheet restructuring efficiently and quickly.
  • Air Methods is operating normally and without service interruptions as it moves through the court-supervised process.
  • Weil, Gotshal & Manges LLP is serving as legal advisor, Lazard is serving as financial advisor and Alvarez & Marsal is serving as restructuring advisor to Air Methods.

Roche Enters Into a Definitive Agreement to Acquire Telavant Including Rights to Novel TL1A Directed Antibody (RVT-3101) for the Treatment of Inflammatory Bowel Disease From Roivant

Retrieved on: 
Monday, October 23, 2023

The agreement includes the development, manufacturing and commercialization rights in the US and Japan for RVT-3101, a novel TL1A directed antibody.

Key Points: 
  • The agreement includes the development, manufacturing and commercialization rights in the US and Japan for RVT-3101, a novel TL1A directed antibody.
  • RVT-3101 is a promising new therapy in development for people suffering from inflammatory bowel disease, including ulcerative colitis and Crohn’s disease.
  • The global, randomized, double-blinded, placebo controlled trial delivered the first long-term, dose finding data in a large number of patients (n=245).
  • Telavant was jointly formed by Roivant and Pfizer in 2022 to develop and commercialize RVT-3101 in the US and Japan.

Vista Outdoor Announces General Counsel for Revelyst

Retrieved on: 
Monday, October 23, 2023

Vista Outdoor Inc. (NYSE: VSTO), the parent company of 41 renowned brands that design, manufacture and market sporting and outdoor lifestyle products to consumers around the globe, today announced that Jung Choi will serve as General Counsel and Corporate Secretary for Revelyst following Vista Outdoor’s planned separation of its Outdoor Products segment into a standalone public company .

Key Points: 
  • Vista Outdoor Inc. (NYSE: VSTO), the parent company of 41 renowned brands that design, manufacture and market sporting and outdoor lifestyle products to consumers around the globe, today announced that Jung Choi will serve as General Counsel and Corporate Secretary for Revelyst following Vista Outdoor’s planned separation of its Outdoor Products segment into a standalone public company .
  • Until the completion of the separation, Choi will serve as Co-General Counsel of Vista Outdoor, with responsibility for the Outdoor Products segment.
  • View the full release here: https://www.businesswire.com/news/home/20231023562177/en/
    Vista Outdoor Inc. today announced that Jung Choi will serve as General Counsel and Corporate Secretary for Revelyst following Vista Outdoor’s planned separation of its outdoor products segment into a standalone public company.
  • Until the completion of the separation, Choi will serve as Co-General Counsel of Vista Outdoor, with responsibility for the Outdoor Products segment.

Ferrara Candy Company to Acquire Jelly Belly Candy Company

Retrieved on: 
Wednesday, October 18, 2023

Ferrara Candy Company (“Ferrara”) today announced an agreement to acquire Jelly Belly Candy Company (“Jelly Belly”) through CTH Invest, the lead holding company of Ferrara.

Key Points: 
  • Ferrara Candy Company (“Ferrara”) today announced an agreement to acquire Jelly Belly Candy Company (“Jelly Belly”) through CTH Invest, the lead holding company of Ferrara.
  • The proposed acquisition would combine Jelly Belly Candy Company’s more than 100 flavors of Jelly Belly® jelly beans and gourmet specialty confections with Ferrara’s broad portfolio of sugar candies.
  • Its signature brand of Jelly Belly® jelly beans has been one of the most loved and recognizable candy products in the world since its introduction in 1976.
  • “As we considered the future of Jelly Belly Candy Company, we have been steadfast in our commitment to create a win-win situation for our employees, consumers, and products,” said Herman Rowland, Sr., Chairman of the Board of Directors of Jelly Belly.

Genetron Health Enters into Definitive Merger Agreement for Going Private Transaction

Retrieved on: 
Wednesday, October 11, 2023

BEIJING, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Genetron Holdings Limited (“Genetron Health” or the “Company”, NASDAQ: GTH), a leading precision oncology platform company in China that specializes in offering molecular profiling tests, early cancer screening products and companion diagnostics development, announced today that it has entered into a definitive Agreement and Plan of Merger (the “Merger Agreement”) with New Genetron Holding Limited (“Parent”) and Genetron New Co Limited (“Merger Sub”), a wholly-owned subsidiary of Parent.

Key Points: 
  • BEIJING, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Genetron Holdings Limited (“Genetron Health” or the “Company”, NASDAQ: GTH), a leading precision oncology platform company in China that specializes in offering molecular profiling tests, early cancer screening products and companion diagnostics development, announced today that it has entered into a definitive Agreement and Plan of Merger (the “Merger Agreement”) with New Genetron Holding Limited (“Parent”) and Genetron New Co Limited (“Merger Sub”), a wholly-owned subsidiary of Parent.
  • The Board, acting upon the unanimous recommendation of a committee of independent and disinterested directors established by the Board (the “Special Committee”), approved the Merger Agreement and the Merger and resolved to recommend the Company’s shareholders vote to authorize and approve the Merger Agreement and the Merger.
  • The Special Committee negotiated the terms of the Merger Agreement with the assistance of its financial and legal advisors.
  • In connection with the Merger, the Company will prepare and mail to its shareholders a proxy statement that will include a copy of the Merger Agreement.