Record

MassMutual Reports Strong 2023 Financial Results Fueled by Company Records

Retrieved on: 
Monday, March 4, 2024

MassMutual today reported strong financial results1 for 2023.

Key Points: 
  • MassMutual today reported strong financial results1 for 2023.
  • 1 These are consolidated statutory results of Massachusetts Mutual Life Insurance Company and its U.S.-domiciled life insurance subsidiaries: C.M.
  • Life Insurance Company, MML Bay State Life Insurance Company and MassMutual Ascend Life Insurance Company.
  • Life Insurance Company and MML Bay State Life Insurance Company, are as follows: A.M. Best Company, A++ (Superior); Fitch Ratings, AA+ (Very Strong); Moody's Investors Service, Aa3 (High Quality); and S&P Global Ratings, AA+ (Very Strong).

FogPharma Announces $145 Million Financing to Support Ongoing Clinical Development of FOG-001 and Accelerate Helicon Peptide Portfolio

Retrieved on: 
Friday, March 1, 2024

Alexis Borisy, an accomplished investor and entrepreneur, also joined the company's board of directors in the position designated to Nextech.

Key Points: 
  • Alexis Borisy, an accomplished investor and entrepreneur, also joined the company's board of directors in the position designated to Nextech.
  • The financing will fund the ongoing clinical development of FOG-001, the company’s first-in-class intracellular TCF-blocking β-catenin inhibitor currently being evaluated in a Phase 1/2 study in solid tumors.
  • The round will also accelerate the development of its robust portfolio of unique discovery programs, deepen its data science capabilities and strengthen its core Helicon therapeutics platform.
  • “Millions of colorectal cancer patients have been told by their oncologists that no more can be done for them.

Investor Group Asks Norfolk Southern Chair Amy Miles to Address Decisions to Raise CEO Pay 37% and Run a Scorched-Earth Campaign

Retrieved on: 
Friday, March 1, 2024

We even offered to settle for minority representation on the Board in the event the Company initiated an orderly management change.

Key Points: 
  • We even offered to settle for minority representation on the Board in the event the Company initiated an orderly management change.
  • It appears that the Board is serving at the pleasure of CEO Alan Shaw – rather than the other way around.
  • In addition to being a more than 30-year insider at Norfolk Southern, he was a relatively new, unproven CEO off to an extremely rocky start.
  • Either way, you and your fellow directors owe it to Norfolk Southern and all of its stakeholders to run a campaign befitting of this great organization.

CENIC Recognizes CSU San Bernardino's High Performance Computing Program for Improving CSU Access to National Research Platform Resources

Retrieved on: 
Thursday, February 29, 2024

The High Performance Computing Program (HPCP) at CSU San Bernardino has been selected to receive the CENIC 2024 Innovations in Networking Award for Research Applications in recognition of its work supporting faculty who wish to avail themselves of all the National Research Platform (NRP) has to offer.

Key Points: 
  • The High Performance Computing Program (HPCP) at CSU San Bernardino has been selected to receive the CENIC 2024 Innovations in Networking Award for Research Applications in recognition of its work supporting faculty who wish to avail themselves of all the National Research Platform (NRP) has to offer.
  • “I am delighted to extend my heartfelt congratulations to the High Performance Computing Program,” said Louis Fox, CENIC’s Chief Executive Officer.
  • Sudhakar stated, “The High Performance Computing Program at CSUSB supported by the National Research Platform and CENIC has opened up tremendous opportunities for faculty-led innovation and research at our University.
  • The High Performance Computing Program Faculty Showcase for 2023 may be viewed on YouTube .

Tapestry, Inc. Appoints Kevin Hourican and David Elkins to Board of Directors

Retrieved on: 
Thursday, February 29, 2024

The appointments of Mr. Hourican and Mr. Elkins to the Board bring the membership to eleven, including ten independent directors.

Key Points: 
  • The appointments of Mr. Hourican and Mr. Elkins to the Board bring the membership to eleven, including ten independent directors.
  • Kevin and David bring significant strategic and financial expertise, with successful track records of delivering innovation and disciplined global growth, including deep M&A experience.
  • Upon his appointment, Kevin Hourican said, "I am excited to be joining the Board of Directors of Tapestry, an innovative, purpose-driven company with a consumer-led approach to building enduring brands.
  • Upon his appointment, David Elkins stated, “I’m honored to join Tapestry’s Board of Directors at this important chapter in the company’s history.

Cactus Announces Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Wednesday, February 28, 2024

Operating income includes a $1.8 million loss and a $5.1 million gain during the fourth quarter of 2023 and third quarter of 2023, respectively, related to the remeasurement of the earn-out liability associated with the FlexSteel acquisition.

Key Points: 
  • Operating income includes a $1.8 million loss and a $5.1 million gain during the fourth quarter of 2023 and third quarter of 2023, respectively, related to the remeasurement of the earn-out liability associated with the FlexSteel acquisition.
  • In the fourth quarter, Adjusted EBITDA margins in both segments exceeded expectations, and we generated substantial free cash flow.”
    “In the first quarter of 2024, we anticipate that U.S. land activity levels will be approximately flat from the fourth quarter of 2023.
  • Fourth quarter 2023 Spoolable Technologies revenues decreased $11.0 million, or 10.4%, sequentially, due to reduced customer activity levels.
  • Operating cash flow was $91.7 million for the fourth quarter of 2023.

Elevated Signals Raises $7.9 Million in Series A Funding

Retrieved on: 
Tuesday, February 27, 2024

Elevated Signals Inc. (“Elevated Signals”), a company pioneering modern manufacturing software, is pleased to announce that it has secured CAD$7.9 million in Series A funding.

Key Points: 
  • Elevated Signals Inc. (“Elevated Signals”), a company pioneering modern manufacturing software, is pleased to announce that it has secured CAD$7.9 million in Series A funding.
  • The investment was led by Yaletown Partners, with participation from Third Kind Venture Capital, WGD Capital, Colin Harris, Raiven Capital, and Pareto Holdings.
  • “This capital will fuel our expansion as we diversify the industries we serve with a focus on high-growth and tech-forward manufacturing businesses, especially those driving progress in food, energy, health, and beyond,” said Amar Singh, CEO and co-founder of Elevated Signals.
  • “Elevated Signals is solving a real problem for its customers and is aligned with larger trends in the market.

Empire Petroleum Announces Record Date for Proposed Rights Offering

Retrieved on: 
Wednesday, February 28, 2024

Empire Petroleum Corporation (NYSE American: EP) ("Empire" or the "Company"), an oil and gas company with current producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana, announced today that its Board of Directors has fixed the close of business on March 7, 2024 as the record date (the “Record Date”) for a subscription rights offering (“Rights Offering”) pursuant to which it intends to raise gross proceeds of up to approximately $25 million.

Key Points: 
  • Empire Petroleum Corporation (NYSE American: EP) ("Empire" or the "Company"), an oil and gas company with current producing assets in New Mexico, North Dakota, Montana, Texas, and Louisiana, announced today that its Board of Directors has fixed the close of business on March 7, 2024 as the record date (the “Record Date”) for a subscription rights offering (“Rights Offering”) pursuant to which it intends to raise gross proceeds of up to approximately $25 million.
  • Holders of subscription rights who hold their shares directly will receive a prospectus, a prospectus supplement, a letter from Empire describing the Rights Offering, and a subscription rights certificate.
  • Those holders who intend to exercise their subscription rights and over-subscription rights should review all of these materials, properly complete and execute the subscription rights certificates, and deliver the subscription rights certificates and full payment to Securities Transfer Corporation, the subscription agent for the Rights Offering, at the address set forth in the prospectus supplement.
  • The Rights Offering will be more fully described in the prospectus supplement filed with the Securities and Exchange Commission (“SEC”) on or about the Record Date.

Bespoke Partners Initiates Coverage of AI/ML Sector, Providing Premier Executive Talent to Drive Disruptive Innovation and Broader AI Adoption

Retrieved on: 
Tuesday, February 27, 2024

Bespoke Partners, the largest executive search firm focused on software, announced today it is initiating coverage of the Artificial Intelligence and Machine Learning sector.

Key Points: 
  • Bespoke Partners, the largest executive search firm focused on software, announced today it is initiating coverage of the Artificial Intelligence and Machine Learning sector.
  • The move will provide clients with talent market insight and curated access to leaders who can scale AI firms or drive adoption of AI technologies in other software and SaaS companies.
  • Bespoke has placed 54 senior executives with AI expertise, including leaders in AI technology companies as well as executives who are implementing AI in other SaaS and software companies.
  • For additional information on Bespoke Partners and the AI/ML sector coverage, please visit www.bespokepartners.com/AIandML .

California Judge Awards Monetary Damages to Investors Charles, Michael Schwab in Libel Suit

Retrieved on: 
Tuesday, February 27, 2024

A California judge has awarded $6 million in compensatory and punitive damages to father-son investor duo Charles and Michael Schwab in two high-profile libel suits after the man accused of smearing them through various media platforms failed to appear for multiple court hearings.

Key Points: 
  • A California judge has awarded $6 million in compensatory and punitive damages to father-son investor duo Charles and Michael Schwab in two high-profile libel suits after the man accused of smearing them through various media platforms failed to appear for multiple court hearings.
  • Records show Behunin paid a Huffington Post columnist $10,000 to write a column falsely accusing Michael Schwab of money laundering and misappropriating funds from a charity for personal profit.
  • The columnist later acknowledged in writing that the article contained factual errors regarding Michael Schwab.
  • Allen Matkins and the Law Offices of David H. Schwartz, Inc. represented the Schwab family and Big Sky Venture Capital.