Foreign Exchange Committee

Drift Capital Launches Fund Investing in Rare Cars

Retrieved on: 
Friday, September 22, 2023
Finance, Banking, Professional Services, General Automotive, Automotive, Morgan Stanley, Federal Reserve Bank, CFA, Risk management, DARC, L.L.C, Collection, Car, Investment, Capital, Foreign Exchange Committee, Bank

(“Drift Capital”) an alternative asset manager providing fractional investments in a diversified portfolio of collectible automobiles, announced today the launch of its inaugural Drift Capital Fund I, L.P. (the “Drift Fund” or “Fund”).

Key Points: 
  • (“Drift Capital”) an alternative asset manager providing fractional investments in a diversified portfolio of collectible automobiles, announced today the launch of its inaugural Drift Capital Fund I, L.P. (the “Drift Fund” or “Fund”).
  • “We are thrilled to unveil Drift Capital and our first Fund to the world,” says Eden J. L. Cooper, CFA, Managing Partner of Drift Capital.
  • The advisory board also includes Nilam Patel, Portfolio Manager of MKP Capital, and Michael Ricciardi, co-founder and chairman emeritus of Mercury Capital Advisors.
  • Drift Capital, with their sole focus on investing in automobiles, offers an efficient, highly curated offering to a new sector of the physical asset universe.

OneConnect Announces ADS Ratio Change

Retrieved on: 
Wednesday, November 30, 2022
Software, Insurance, Finance, Banking, Data Management, Professional Services, Technology, Fintech, Foreign Exchange Committee, COVID-19, OneConnect Financial Technology, NYSE, ADSS, COVID, Sale, ADS, GM Gamma platform, Ping An Insurance, Ratio, Acquisition, Security (finance), PRC

OneConnect Financial Technology Co., Ltd. (OneConnect or the Company) (NYSE: OCFT), a leading technology-as-a-service provider for financial institutions in China, today announced that it will change the ratio of its American depositary shares (ADSs) representing its ordinary shares from one (1) ADS representing three (3) ordinary shares to one (1) ADS representing thirty (30) ordinary shares (the Ratio Change).

Key Points: 
  • OneConnect Financial Technology Co., Ltd. (OneConnect or the Company) (NYSE: OCFT), a leading technology-as-a-service provider for financial institutions in China, today announced that it will change the ratio of its American depositary shares (ADSs) representing its ordinary shares from one (1) ADS representing three (3) ordinary shares to one (1) ADS representing thirty (30) ordinary shares (the Ratio Change).
  • For OneConnects ADS holders, the change in the ADS ratio will have the same effect as a one-for-ten reverse ADS split.
  • No fractional new ADSs will be issued in connection with the change in the ADS ratio.
  • As a result of the Ratio Change, the ADS price is expected to increase proportionally, although the Company can give no assurance that the ADS price after the Ratio Change will be equal to or greater than ten times the ADS price before the change.

OneConnect Announces Third Quarter and Nine Months Ended September 30, 2022 Unaudited Financial Results

Retrieved on: 
Thursday, November 10, 2022
Fintech, Other Professional Services, Professional Services, Finance, Review, Forecasting, Forward-looking statement, Marketing, Ping An Insurance, Risk management, International Financial Reporting Standards, Foreign Exchange Committee, Research, Travel, Private Securities Litigation Reform Act, Technology, Depreciation, Development, Efficiency, R, ROI, COVID, Solution, P&C, International, Securities Exchange Act of 1934, ADSS, Company, Research and development, ADS, Terminology, Administration, GM Gamma platform, Industry, Acquisition, COVID-19, Video game, Cryptocurrency, Pharmaceutical industry, Bank, HK, PRC

Cost of revenue in the third quarter of 2022 was RMB694 million, compared with RMB686 million for the same period in the prior year.

Key Points: 
  • Cost of revenue in the third quarter of 2022 was RMB694 million, compared with RMB686 million for the same period in the prior year.
  • For a reconciliation of the Companys IFRS and non-IFRS gross margin, please refer to Reconciliation of IFRS and Non-IFRS Results (Unaudited).
  • Whenever OneConnect uses a non-IFRS financial measure, a reconciliation is provided to the most closely applicable financial measure stated in accordance with IFRS.
  • You are encouraged to review the related IFRS financial measures and the reconciliation of these non-IFRS financial measures to their most directly comparable IFRS financial measures.

Unity Completes Merger with ironSource

Retrieved on: 
Monday, November 7, 2022
Mobile, Wireless, Technology, Electronic Games, Entertainment, Software, Audio, Video, Networks, Internet, Data Management, Consumer Electronics, Sumathi Best Television Current Reporting Award, 3D, Growth, Board, Industry, NYSE, Personal computer, 2D, Tablet, Communists' Unity Board, CEO, IronSource, Annual report, U, Goal, Phrase, Technology, Security (finance), Ecosystem, Foreign Exchange Committee, Communication, Video game, Risk management, Supersonic speed

Unity (NYSE: U) today announced that it has completed its merger with ironSource, becoming the industrys leading end-to-end platform for mobile app creators.

Key Points: 
  • Unity (NYSE: U) today announced that it has completed its merger with ironSource, becoming the industrys leading end-to-end platform for mobile app creators.
  • Were happy to welcome ironSource to the Unity family and get a step closer to our goal of being the leading platform for a world with more creators in it, said John Riccitiello, CEO of Unity.
  • The driving force behind this industry-changing merger is to create more value for developers across the entire development journey, said Tomer Bar-Zeev, CEO, ironSource.
  • Neither Unity nor ironSource is under any duty to update any of these forward-looking statements after the date of this communication, nor to conform prior statements to actual results or revised expectations, and Unity does not intend to do so.

Quantum Reports Second Quarter Fiscal 2023 Results

Retrieved on: 
Wednesday, November 2, 2022
Security (finance), Software, Face, International, Life, EBITDA, Risk, CEO, Securities Exchange Act of 1934, U.S. Securities and Exchange Commission, Borrowing base, Organization, Computer scientist, Intelligence, Research, Quantum Corporation, COVID-19, Securities Act of 1933, Overalls, Transport, Government, Development, Phrase, Form 10-K, Internet, Education, ID, NASDAQ, Foreign Exchange Committee, Company, Webcast, SECURE Act of 2019, GAAP, Solution, Video game, Bank, Quantum, Nasdaq

SAN JOSE, Calif., Nov. 2, 2022 /PRNewswire/ -- Quantum Corporation (NASDAQ: QMCO) announced today financial results for its fiscal second quarter ended September 30, 2022.

Key Points: 
  • Prior Quarter
    Revenue for the second quarter fiscal 2023 was $99.1 million compared to $97.1 million in the prior quarter.
  • Gross profit in the second quarter of fiscal 2023 was $27.8 million, or 28% of revenue, compared to $34.0 million, or 35% of revenue, in the first quarter of fiscal 2023.
  • GAAP net loss in the second quarter of fiscal 2023 was $11.9 million, or ($0.13) per share, compared to a net loss of $10.6 million, or ($0.13) per share, in the first fiscal quarter 2023.
  • Adjusted EBITDA in the second quarter of fiscal 2023 was $4.1 million, compared to $0.3 million in the prior quarter.

Unity Announces Date for Special Meeting of Stockholders to Vote on Merger with ironSource

Retrieved on: 
Friday, September 9, 2022
Data Management, Consumer Electronics, Technology, Electronic Games, Mobile Entertainment, Entertainment, Software, Networks, Audio, Video, Internet, Mobile, Wireless, TO, Phrase, Security (finance), Tablet, 3D, Prospectus, NYSE, Securities Act of 1933, Foreign Exchange Committee, Register, Regulation, Personal computer, Sale, Disclosure, Share repurchase, Sumathi Best Television Current Reporting Award, SEC, IronSource, Regulation Fair Disclosure, Registration statement, SEC filing, Communication, Failure, Form, WHEN, JOINT, Annual report, Industry, Life, Financial adviser

The record date for the special meeting has been set as Friday, September 2, 2022.

Key Points: 
  • The record date for the special meeting has been set as Friday, September 2, 2022.
  • The completion of the merger remains subject to customary closing conditions, including receipt of approval from Unity stockholders and ironSource shareholders.
  • Unity is the worlds leading platform for creating and operating interactive, real-time 3D (RT3D) content.
  • Unity and ironSource also plan to file other relevant documents with the SEC regarding the proposed transaction.

ironSource Comments on Unity Board’s Rejection of Unilateral, Non-Binding Proposal by AppLovin

Retrieved on: 
Monday, August 15, 2022
Professional Services, Apps, Applications, Technology, Telecommunications, Finance, Software, Industry, JOINT, NYSE, TO, Phrase, Failure, Form, SEC, Sale, Prospectus, Board, Sumathi Best Television Current Reporting Award, Share repurchase, Security (finance), Annual report, Communication, Operate, EBITDA, Securities Act of 1933, Board of directors, WHEN, Create, Foreign Exchange Committee, Risk management, IronSource

Together, Unity and ironSource will be stronger, more profitable, and better able to optimize both the Create and Operate sides of the business to deliver everything creators need to succeed.

Key Points: 
  • Together, Unity and ironSource will be stronger, more profitable, and better able to optimize both the Create and Operate sides of the business to deliver everything creators need to succeed.
  • ironSource is a leading business platform for the App Economy.
  • Unity and ironSource also plan to file other relevant documents with the SEC regarding the proposed transaction.
  • Unity, ironSource and their respective directors and executive officers may be considered participants in the solicitation of proxies in connection with the proposed transaction.

Unity Board of Directors Reaffirms Commitment to ironSource Transaction and Rejects Unsolicited Proposal from AppLovin

Retrieved on: 
Monday, August 15, 2022
Software, Internet, Audio, Video, Metaverse, Web3, Technology, Mobile, Wireless, Other Technology, Disclosure, Silver Lake (investment firm), Share repurchase, Industry, NYSE, TO, 3D, Phrase, Regulation Fair Disclosure, Failure, Silver, SEC, Form, Sale, Prospectus, Communists' Unity Board, Board, Sumathi Best Television Current Reporting Award, Security (finance), Annual report, Communication, Life, Personal computer, EBITDA, Morrison & Foerster, UGS, Morgan Stanley, NASDAQ, Tablet, Securities Act of 1933, Board of directors, Morrison, Regulation, WHEN, IronSource, Foreign Exchange Committee, Video game, Financial adviser, AppLovin, Sequoia

The Unity Board reaffirms its recommendation to Unitys shareholders to vote in favor of the previously announced ironSource transaction and recommends against the unsolicited AppLovin proposal.

Key Points: 
  • The Unity Board reaffirms its recommendation to Unitys shareholders to vote in favor of the previously announced ironSource transaction and recommends against the unsolicited AppLovin proposal.
  • The Unity Board is committed to acting in the best interests of Unity shareholders with a focus on driving long-term sustainable value creation.
  • We remain committed to and enthusiastic about Unitys agreement with ironSource and the substantial benefits it will create for our shareholders and Unity creators.
  • Unity, ironSource and their respective directors and executive officers may be considered participants in the solicitation of proxies in connection with the proposed transaction.

Quantum Reports First Quarter Fiscal 2023 Results

Retrieved on: 
Thursday, August 4, 2022
U.S. Securities and Exchange Commission, SECURE Act of 2019, Intelligence, Internet, CEO, Phrase, Face, Growth, Securities Exchange Act of 1934, Efficiency, Security (finance), Research, Life, Government, EBITDA, COVID-19, Company, International, Education, SAN, Form 10-K, Transport, Risk, NASDAQ, ARR, GAAP, Quantum Corporation, Securities Act of 1933, Webcast, Development, Software, Solution, ID, Overalls, Rights, Foreign Exchange Committee, Organization, Renewable energy, Television, Bank, Video game, Online gambling, Nasdaq, Quantum

SAN JOSE, Calif., Aug. 4, 2022 /PRNewswire/ -- Quantum Corporation (NASDAQ: QMCO) announced today financial results for its fiscal first quarter ended June 30, 2022.

Key Points: 
  • Prior Quarter
    Revenue for the first quarter fiscal 2023 was $97.1 million compared to $95.2 million in the prior quarter.
  • Gross profit in the first quarter of fiscal 2023 was $34.0 million, or 35% of revenue, compared to $36.2 million, or 38% of revenue, in the fourth quarter of fiscal 2022.
  • Research and development expenses were $12.1 million in the first quarter of fiscal 2023, compared to $13.5 million in the prior quarter.
  • Adjusted EBITDA in the first quarter of fiscal 2023 was $0.3 million, compared to $0.4 million in the prior quarter.

ironSource to Report Second Quarter Fiscal Year 2022 Financial Results on August 10, 2022

Retrieved on: 
Thursday, July 21, 2022
Finance, Data Analytics, Professional Services, Technology, Software, Form, Sale, Foreign Exchange Committee, WHEN, JOINT, Industry, NYSE, SEC, Securities Act of 1933, Failure, Phrase, Prospectus, Mergers and acquisitions, Security (finance), Sumathi Best Television Current Reporting Award, Annual report, Communication, TO, Risk management, IronSource

ironSource (NYSE: IS) (ironSource or the Company), a leading business platform for the App Economy, today announced it will release its financial results for the second quarter ended June 30, 2022, before the market opens on August 10, 2022.

Key Points: 
  • ironSource (NYSE: IS) (ironSource or the Company), a leading business platform for the App Economy, today announced it will release its financial results for the second quarter ended June 30, 2022, before the market opens on August 10, 2022.
  • As announced on July 13, 2022, ironSource entered into an agreement to merge with Unity Software Inc. (Unity) in an all-stock transaction that values ironSource at approximately $4.4 billion (the Merger).
  • In light of the proposed transaction with Unity, ironSource will not be hosting a conference call or providing updated financial guidance in conjunction with its second quarter 2022 earnings release.
  • Unity and ironSource also plan to file or furnish, as applicable, other relevant documents with or to the SEC regarding the proposed transaction.