LEVITTOWN

LCN Capital Partners Purchases Lincoln Educational Services Corporation's New School Campus in the Philadelphia Metropolitan Area

Retrieved on: 
Tuesday, February 13, 2024
HVAC, Lincoln Tech, Lincoln, Welding, Partnership, LCN, Sale, CO, Student

NEW YORK, Feb. 13, 2024 /PRNewswire/ -- LCN Capital Partners ("LCN"), a recognized leader in the primary sale-leaseback and build-to-suit market, has reached an agreement with Lincoln Educational Services Corporation ("Lincoln Tech") to purchase Lincoln Tech's Levittown, PA campus.

Key Points: 
  • NEW YORK, Feb. 13, 2024 /PRNewswire/ -- LCN Capital Partners ("LCN"), a recognized leader in the primary sale-leaseback and build-to-suit market, has reached an agreement with Lincoln Educational Services Corporation ("Lincoln Tech") to purchase Lincoln Tech's Levittown, PA campus.
  • Simultaneously, LCN leased the property back to Lincoln under a 20-year absolute triple-net lease.
  • It will replace Lincoln Tech's existing campus in Philadelphia and expand the school's areas of study to include HVAC, welding, electrical, and automotive technology.
  • Jared Ciejek, Partner at LCN, said: "We are pleased to partner once again with Lincoln Tech as it expands its Philadelphia presence by relocating to a larger and more modern suburban campus.

Cogito Tech Calls for New Ethical Standards in AI Development with DataSum Framework

Retrieved on: 
Wednesday, September 27, 2023
Cognition, LLM, Vacuum, Cogito, Intellectual property, University, Senior, McMullen, Supply chain management, ILO, Thought, Reinforcement, Data, Machine learning, Algorithm, Artificial intelligence, Ethics, Supply, International Labour Organization, Medical device, Music, Dairy, Sales, AI

Today, Cogito launched an appeal to AI vendors worldwide by unveiling a “Nutrition Facts” style framework for AI training data called DataSum .

Key Points: 
  • Today, Cogito launched an appeal to AI vendors worldwide by unveiling a “Nutrition Facts” style framework for AI training data called DataSum .
  • As a result, this level of detail allows users to make more informed and ethical decisions about the AI they employ.
  • “As we continue to innovate in AI, the need for a trustworthy and comprehensive Supply Chain Management framework becomes ever more critical,” says Rohan Agrawal, CEO of Cogito Tech.
  • In addition to ethical labor practices, Cogito calls for data vendors to adopt higher standards in sourcing datasets.

ATI PHYSICAL THERAPY ADDS TWO MORE LOCATIONS IN PENNSYLVANIA

Retrieved on: 
Thursday, August 31, 2023
The Washington Post, ATI, Unit, ATI Physical Therapy, Movement, Patient, Region, NYSE, Nursing, Engineering plastic, Nightclub, Grand

BOLINGBROOK, Ill., Aug. 31, 2023 /PRNewswire/ -- ATI Physical Therapy ("ATI" or the "Company") (NYSE: ATIP), a nationally recognized outpatient physical therapy provider in the United States, today announced the opening of two new locations in Pennsylvania, bringing its total number of clinics in the state to 52. The expansion creates even more opportunity for Lower Bucks County residents to access high-quality care, personalized service and treatment by dedicated therapists chosen from among some of the best clinicians in the industry.

Key Points: 
  • BOLINGBROOK, Ill., Aug. 31, 2023 /PRNewswire/ -- ATI Physical Therapy ("ATI" or the "Company") (NYSE: ATIP), a nationally recognized outpatient physical therapy provider in the United States, today announced the opening of two new locations in Pennsylvania, bringing its total number of clinics in the state to 52.
  • ATI Physical Therapy specializes in evidence-based, hands-on care for a variety of individuals with a core focus on improving and sustaining musculoskeletal health through better movement.
  • "We are proud to further expand access to care in Lower Bucks County," said Tim Flaherty, Regional Vice President for ATI Physical Therapy.
  • ATI Physical Therapy introduces the following locations:
    ATI Levittown | Levittown Parkway, 169 Levittown Pkwy, Ste D, Levittown, PA 19055
    Grand opening and ribbon-cutting event on Thursday, Sept. 7 starting at 9:30 a.m.

StoneMor Announces Completion of Merger with Axar Affiliate

Retrieved on: 
Thursday, November 3, 2022
Securities Exchange Act of 1934, Company, Date, Private Securities Litigation Reform Act, Funeral, Common stock, EDT, Board, Risk, GLOBE, Letter, Death, Exchange, NYSE, Cemetery, Treasury, Agreement, New, Annual report, U.S. Securities and Exchange Commission, Sub, Plan, Tripura Merger Agreement, Security (finance), Holding company, Mergers and acquisitions, Parent, Axar Patel

BENSALEM, Pa., Nov. 03, 2022 (GLOBE NEWSWIRE) -- StoneMor Inc. (NYSE: STON) (StoneMor or the Company), a leading owner and operator of cemeteries and funeral homes, today announced the completion of the merger contemplated by the previously announced Agreement and Plan of Merger (the Merger Agreement), dated as of May 24, 2022, by and among the Company, Axar Cemetery Parent Corp. (Parent), a Delaware corporation and an indirect wholly-owned subsidiary of Axar Capital Management, LP (Axar), and Axar Cemetery Merger Corp., a Delaware corporation and a wholly-owned subsidiary of Parent (Merger Sub), pursuant to which Merger Sub was merged with and into the Company (the Merger), with the Company surviving the Merger as the surviving corporation (the Surviving Corporation) and becoming a wholly-owned subsidiary of Parent.

Key Points: 
  • BENSALEM, Pa., Nov. 03, 2022 (GLOBE NEWSWIRE) -- StoneMor Inc. (NYSE: STON) (StoneMor or the Company), a leading owner and operator of cemeteries and funeral homes, today announced the completion of the merger contemplated by the previously announced Agreement and Plan of Merger (the Merger Agreement), dated as of May 24, 2022, by and among the Company, Axar Cemetery Parent Corp. (Parent), a Delaware corporation and an indirect wholly-owned subsidiary of Axar Capital Management, LP (Axar), and Axar Cemetery Merger Corp., a Delaware corporation and a wholly-owned subsidiary of Parent (Merger Sub), pursuant to which Merger Sub was merged with and into the Company (the Merger), with the Company surviving the Merger as the surviving corporation (the Surviving Corporation) and becoming a wholly-owned subsidiary of Parent.
  • The Merger became effective at 4:05 p.m. EDT on November 3, 2022 (the Effective Time).
  • As a result of the Merger, the Company became an indirect wholly-owned subsidiary of Axar.
  • Stockholders will receive a letter of transmittal and instructions on how to surrender their share certificates in exchange for the Merger Consideration.

Leading Independent Proxy Advisory Firm ISS Recommends StoneMor Stockholders Vote “FOR” the Transaction with Axar Affiliate

Retrieved on: 
Wednesday, October 12, 2022
Cemetery, Proxy, U.S. Securities and Exchange Commission, Risk, SEC, ISS, NYSE, Annual report, Security (finance), Axar Patel, Funeral, Private Securities Litigation Reform Act, Company, Reading, GLOBE, Special, Proxy statement, Death, Suite, Ownership, Holding company, Life insurance, Shareholder

The Company is pleased that ISS shares its belief that the transaction with Axar is in the best interests of all StoneMor stockholders and supports the Boards recommendation that stockholders vote FOR the transaction, said Joe Redling, StoneMors President and Chief Executive Officer.

Key Points: 
  • The Company is pleased that ISS shares its belief that the transaction with Axar is in the best interests of all StoneMor stockholders and supports the Boards recommendation that stockholders vote FOR the transaction, said Joe Redling, StoneMors President and Chief Executive Officer.
  • The transaction with Axar delivers significant, immediate and certain value to our public stockholders, eliminating their exposure to the execution risks and significant macroeconomic headwinds associated with continuing as a standalone company.
  • The Company strongly urges all of its stockholders to follow the recommendation of ISS by voting FOR this value-maximizing transaction.
  • Stockholders will be able to attend the Special Meeting, vote and submit questions during the Special Meeting via live webcast by visiting www.virtualshareholdermeeting.com/STON2022SM.

StoneMor Inc. Announces Date of Conference Call and Webcast to Discuss 2022 Second Quarter Financial Results

Retrieved on: 
Thursday, July 28, 2022
Death, Cemetery, GLOBE, U.S. Securities and Exchange Commission, Disclosure, Forward-looking statement, NYSE, Government, Private Securities Litigation Reform Act, Funeral, Security (finance), Risk, Investor, Coronavirus, Risk management

BENSALEM, Pa., July 28, 2022 (GLOBE NEWSWIRE) -- StoneMor Inc. (NYSE: STON), a leading owner and operator of cemeteries and funeral homes, today announced it expects to release 2022 second quarter financial results on Thursday, August 11, 2022 after the market closes.

Key Points: 
  • BENSALEM, Pa., July 28, 2022 (GLOBE NEWSWIRE) -- StoneMor Inc. (NYSE: STON), a leading owner and operator of cemeteries and funeral homes, today announced it expects to release 2022 second quarter financial results on Thursday, August 11, 2022 after the market closes.
  • In connection with this announcement, StoneMor plans to hold a conference call to discuss its results later that day at 4:30 p.m. eastern time.
  • StoneMor will also host a live webcast of this conference call.
  • Investors may access the live webcast via the Investors page of the StoneMor website www.stonemor.com under Events & Presentations.

StoneMor Inc. Expands Partnership With Sympathy Brands Advancing Holistic Family Care Solutions at Cemetery Properties and Funeral Homes

Retrieved on: 
Tuesday, June 14, 2022
Solution, Funeral home, Industry, Technology, Cemetery, CEO, Workflow, Sympathy, GLOBE, Family, Funeral, Partnership, Death, Unique, NYSE, Retail, Video game console, Life insurance

The expanded services enable StoneMor to provide a holistic experience to every family, every time, connecting its cemeteries, funeral homes, families, and supporters when planning, mourning, and memorializing loved ones.

Key Points: 
  • The expanded services enable StoneMor to provide a holistic experience to every family, every time, connecting its cemeteries, funeral homes, families, and supporters when planning, mourning, and memorializing loved ones.
  • Since developing its strategic alliance in September 2021, Sympathy Brands has partnered with StoneMor funeral homes provide comprehensive family care from pre-planning and at-need, through continued care and memorialization services, blending personal services with appropriate technology.
  • The partnership streamlines workflow and enriches family care helping with the digitalization of all aspects of the cemetery.
  • We continue to move forward in partnership with Sympathy Brands to become the industry leader in digital solutions for the families we serve, said Joe Redling, StoneMor CEO.

StoneMor Inc. Commences Go-Shop Process in Accordance with Merger Agreement

Retrieved on: 
Friday, June 3, 2022
Sub, Company, Interest, LLC, Ownership, Tripura Merger Agreement, Security (finance), Committee, U.S. Securities and Exchange Commission, GLOBE, Plan, Private Securities Litigation Reform Act, Risk, ARE, NYSE, Axar Patel, SEC, Board, Cemetery, Funeral, Death, Suite, Life insurance, Mergers and acquisitions, Parent

The Merger Agreement was entered into following negotiations between Axar and the Conflicts Committee of the Board of Directors of the Company (the Conflicts Committee), consisting entirely of independent directors.

Key Points: 
  • The Merger Agreement was entered into following negotiations between Axar and the Conflicts Committee of the Board of Directors of the Company (the Conflicts Committee), consisting entirely of independent directors.
  • Upon the recommendation of the Conflicts Committee, the Board of Directors of the Company agreed to approve the Merger Agreement and the Merger.
  • There can be no assurance that this go-shop process will result in a proposal that is more favorable to the stockholders of the Company (other than Axar and its affiliates) than the Merger Agreement.
  • Pursuant to the Merger Agreement, in connection with a superior proposal that is not supported by the Parent, the Committee may withdraw its recommendation to the full Board approving the Merger Agreement and the Merger and the Company may terminate the Merger Agreement.

StoneMor Inc. Enters into Agreement to be Acquired by Axar Capital Management, LP

Retrieved on: 
Wednesday, May 25, 2022
ARE, Cemetery, Death, Risk, Company, Private Securities Litigation Reform Act, U.S. Securities and Exchange Commission, Conflict, Director, New, Duff & Phelps, Tripura Merger Agreement, Ownership, LLP, Board, Suite, Funeral, Security (finance), Kroll, SEC, Acquisition, NYSE, Annual report, GLOBE, Cryptocurrency, Axar Patel

Axar currently owns approximately 75% of the outstanding shares of StoneMor common stock.

Key Points: 
  • Axar currently owns approximately 75% of the outstanding shares of StoneMor common stock.
  • Following the Conflicts Committees unanimous recommendation, StoneMors Board of Directors approved the merger agreement and has recommended that StoneMors stockholders adopt and approve the merger agreement and the merger.
  • Our agreement with Axar delivers a significant premium for StoneMors stockholders and ensures a strong foundation for us to continue our expansion, said Joe Redling, President and Chief Executive Officer.
  • Axar has agreed to vote the shares of StoneMor common stock it owns in favor of the merger agreement.