TESS

USRA Scientist Unlocks Crucial Data, Validating Rare Discovery of a Synchronized Six-Planet System

Retrieved on: 
Wednesday, November 29, 2023

The planets in the HD 110067 system revolve around the star in a precise orbital pattern.

Key Points: 
  • The planets in the HD 110067 system revolve around the star in a precise orbital pattern.
  • When the closest planet to the star makes 3 full revolutions, the second one makes exactly 2 during the same period.
  • Among the over 5500 exoplanets discovered so far, it is not uncommon to discover several planets orbiting a star.
  • Rapetti's code was the game changer in enabling the research team to complete this discovery, confirming a six-planet resonance chain.

Cummins, Inc. Debuts Combined Drivetrain for Defense Applications

Retrieved on: 
Monday, October 9, 2023

This proof-of-concept drivetrain will be unveiled at the 2024 Annual AUSA Conference in Washington, DC, October 9-11.

Key Points: 
  • This proof-of-concept drivetrain will be unveiled at the 2024 Annual AUSA Conference in Washington, DC, October 9-11.
  • “Cummins’ portfolio of defense solutions has been bolstered by the addition of the Cummins-Meritor ProTec brand of drivetrain components,” said Jim Keane, Cummins Inc. Executive Director, Global Product Solutions for the Cummins-Meritor business unit.
  • “Meritor Defense, now Cummins-Meritor, has a storied history of serving the defense market since the early 1900s.
  • This legacy has long established these solutions as the leading drivetrain components available to defense applications.

Clipway Announces Launch of New Global Secondaries Firm

Retrieved on: 
Thursday, October 5, 2023

A team of seasoned investors, institutional asset allocators, and data scientists today announced the launch of Clipway, a global secondaries firm that leverages proprietary technology to optimise its investment strategy.

Key Points: 
  • A team of seasoned investors, institutional asset allocators, and data scientists today announced the launch of Clipway, a global secondaries firm that leverages proprietary technology to optimise its investment strategy.
  • Clipway was founded to apply next-generation technology to the secondaries industry - a highly data-intensive asset class, which requires investors to extract, store, and synthesise millions of data points per quarter.
  • Clipway is also pleased to announce that it has secured strategic, minority investments from leading global investor General Atlantic and leading European independent asset manager Carmignac.
  • We are excited to begin the Clipway journey alongside them.”

TESSCO Technologies Incorporated Receives Stockholder Approval to Merge and Announces Expected Merger Closing Date

Retrieved on: 
Thursday, July 13, 2023

(NASDAQ: TESS), TESSCO TECHNOLOGIES INCORPORATED (“Tessco” or the “Company") announced today that, at a Special Meeting of Stockholders held on July 13, 2023, Tessco stockholders approved the proposal to approve the merger transaction between Tessco and entities affiliated with Lee Equity Partners LLC and Twin Point Capital LLC, which also own Alliance Corporation (“Alliance”), a value-added distributor of equipment for the wireless industry, and GetWireless, LLC (“GetWireless”), a value-added distributor of cellular solutions that connect the Internet of Things (IoT).

Key Points: 
  • (NASDAQ: TESS), TESSCO TECHNOLOGIES INCORPORATED (“Tessco” or the “Company") announced today that, at a Special Meeting of Stockholders held on July 13, 2023, Tessco stockholders approved the proposal to approve the merger transaction between Tessco and entities affiliated with Lee Equity Partners LLC and Twin Point Capital LLC, which also own Alliance Corporation (“Alliance”), a value-added distributor of equipment for the wireless industry, and GetWireless, LLC (“GetWireless”), a value-added distributor of cellular solutions that connect the Internet of Things (IoT).
  • The Company also announced that it expects the merger transaction to close on Monday, July 17, 2023, subject to customary closing conditions.
  • Assuming that closing date, upon closing, the Company will become directly or indirectly wholly owned by entities affiliated with Lee Equity Partners LLC and Twin Point Capital LLC, Tessco’s common stock will cease trading on Nasdaq, and all outstanding shares of Tessco common stock, other than any held by stockholders that perfected their statutory rights of appraisal, will be converted into the right to receive the merger consideration of $9.00 per share.

Astronomers puzzled by 'planet that shouldn't exist'

Retrieved on: 
Wednesday, June 28, 2023

The search for planets outside our Solar System – exoplanets – is one of the most rapidly growing fields in astronomy.

Key Points: 
  • The search for planets outside our Solar System – exoplanets – is one of the most rapidly growing fields in astronomy.
  • In research published today in Nature, we lay out the puzzle of this planet’s existence – and propose some possible solutions.

A glimpse into our future: red giant stars

    • In this “red giant” phase of evolution, stars can grow to more than 100 times their original size.
    • We know of hundreds of planets orbiting red giant stars.
    • In 2019, the International Astronomical Union dubbed the star Baekdu and the planet Halla, after the tallest mountains on the Korean peninsula.

A planet that should not be there

    • Unlike other red giants we have found hosting exoplanets on close-in orbits, Baekdu has already started fusing helium in its core.
    • For Baekdu, the frequencies of the waves unambiguously showed it has commenced burning helium in its core.
    • The discovery was puzzling: if Baekdu is burning helium, it should have been much bigger in the past – so big it should have engulfed the planet Halla.

Two stars become one: a possible survival scenario

    • At least half of all stars in our galaxy did not form in isolation like our Sun, but are part of binary systems.
    • A merger of these two stars may have prevented the expansion of either star to a size large enough to engulf planet Halla.
    • The violent collision between the two stars may have produced a cloud of gas and dust from which the planet could have formed.

Celebrate & Elevate Announces Agenda for Inaugural Entrepreneurial Spirit Summit

Retrieved on: 
Wednesday, June 28, 2023

Celebrate & Elevate , an inclusive online community and network advancing women of color and allies in tech, media, and business—has released the agenda for its inaugural The Entrepreneurial Spirit Summit (TESS).

Key Points: 
  • Celebrate & Elevate , an inclusive online community and network advancing women of color and allies in tech, media, and business—has released the agenda for its inaugural The Entrepreneurial Spirit Summit (TESS).
  • A unique one-day event, TESS is designed to create economic opportunities for diverse women professionals by providing them with access to experts, decision-makers, educational resources, and curated connections.
  • The full-day Summit will be held on Saturday, July 29 at Elon University in Elon, North Carolina and will be presented by Bank of America.
  • View the full release here: https://www.businesswire.com/news/home/20230628929389/en/
    Speakers for the inaugural The Entrepreneurial Spirit Summit, taking place on July 29, 2023 at Elon University.

STOCKHOLDER ALERT: The M&A Class Action Firm Continues Investigating the Merger – RADI, UNVR, HSKA, TESS

Retrieved on: 
Wednesday, May 31, 2023

Under the terms of the agreement, RADI shareholders are expected to receive $15.00 in cash per share they own.

Key Points: 
  • Under the terms of the agreement, RADI shareholders are expected to receive $15.00 in cash per share they own.
  • Univar Solutions Inc. (NYSE: UNVR ), relating to its sale to affiliates of Apollo Global Management, Inc.
  • TESSCO Technologies Inc. (NASDAQ: TESS ), relating to its proposed sale to affiliates of Lee Equity Partners and Twin Point Capital.
  • Under the terms of the agreement, TESS shareholders are expected to receive $9.00 in cash per share they own.

ALERT: The M&A Class Action Firm Continues Investigating the Merger – UNVR, RADI, TESS, HSKA

Retrieved on: 
Wednesday, May 24, 2023

Under the terms of the agreement, UNVR shareholders will receive $36.15 in cash per share they own.

Key Points: 
  • Under the terms of the agreement, UNVR shareholders will receive $36.15 in cash per share they own.
  • Radius Global Infrastructure, Inc. (NASDAQ: RADI ), relating to its proposed sale to EQT Active Core Infrastructure and Public Sector Pension Investment Board.
  • Under the terms of the agreement, RADI shareholders are expected to receive $15.00 in cash per share they own.
  • Under the terms of the agreement, HSKA shareholders are expected to receive $120.00 in cash per share they own.

TESSCO Reports Fourth-Quarter Fiscal 2023 Financial Results

Retrieved on: 
Friday, May 26, 2023

TESSCO TECHNOLOGIES INCORPORATED (NASDAQ: TESS) today reported financial results for its fiscal year 2023 fourth quarter, ended March 26, 2023.

Key Points: 
  • TESSCO TECHNOLOGIES INCORPORATED (NASDAQ: TESS) today reported financial results for its fiscal year 2023 fourth quarter, ended March 26, 2023.
  • Fiscal year 2023 revenues increased by 8% and gross profit grew by 17%; fiscal 2023 revenues of $452 million, within guidance range
    Fiscal year 2023 net loss of $4.3 million, within guidance range
    Adjusted EBITDA for fiscal year 2023 increased from $0.3 million to $2.8 million, or 795%
    *See explanation of non-GAAP information below.
  • Building on the positive adjusted EBITDA results achieved in fiscal 2022, we made significant progress by improving adjusted EBITDA by $2.5 million in fiscal 2023, culminating in a total of $2.8 million for the year.
  • The financial tables and financial results discussed in this press release relate only to continuing operations.

Discovery of 69 New Exoplanets Using Machine Learning

Retrieved on: 
Monday, May 22, 2023

WASHINGTON, May 22, 2023 /PRNewswire/ -- In a groundbreaking achievement, a team of machine learning scientists and astronomers from Universities Space Research Association (USRA), the SETI Institute, and NASA discovered 69 new exoplanets using advanced machine learning techniques.

Key Points: 
  • WASHINGTON, May 22, 2023 /PRNewswire/ -- In a groundbreaking achievement, a team of machine learning scientists and astronomers from Universities Space Research Association (USRA), the SETI Institute, and NASA discovered 69 new exoplanets using advanced machine learning techniques.
  • Various approaches have been used for exoplanet discovery, including the transit method which led to the discovery of a majority of exoplanets.
  • Instead of relying on the new observations to complement the transit method, the newly discovered 69 exoplanets are validated using the previously developed deep learning called ExoMiner and a concept called multiplicity.
  • The discovery of 69 new exoplanets using machine learning marks a pivotal milestone in exploratory research and propels us closer to answering fundamental questions about our place in the cosmos.