CFIUS

Mustang Bio Reports Full-Year 2023 Financial Results and Recent Corporate Highlights

Retrieved on: 
Monday, March 11, 2024

WORCESTER, Mass., March 11, 2024 (GLOBE NEWSWIRE) -- Mustang Bio, Inc. (“Mustang” or the “Company”) (Nasdaq: MBIO), a clinical-stage biopharmaceutical company focused on translating today’s medical breakthroughs in cell and gene therapies into potential cures for difficult-to-treat cancers and rare genetic diseases, today announced financial results and recent corporate highlights for the full-year ended December 31, 2023.

Key Points: 
  • WORCESTER, Mass., March 11, 2024 (GLOBE NEWSWIRE) -- Mustang Bio, Inc. (“Mustang” or the “Company”) (Nasdaq: MBIO), a clinical-stage biopharmaceutical company focused on translating today’s medical breakthroughs in cell and gene therapies into potential cures for difficult-to-treat cancers and rare genetic diseases, today announced financial results and recent corporate highlights for the full-year ended December 31, 2023.
  • Research and development expenses were $40.5 million for the year ended December 31, 2023, compared to $62.5 million for 2022.
  • 2023 and Recent Corporate Highlights:
    In July 2023, Mustang announced that it amended its previously announced asset purchase agreement with uBriGene (Boston) Biosciences Inc. (“uBriGene”) and closed the transaction.
  • In October 2023, Mustang completed a registered direct offering priced at-the-market for approximately $4.4 million in gross proceeds.

Vista Outdoor Rejects Unsolicited Indication of Interest from MNC Capital

Retrieved on: 
Monday, March 4, 2024

Vista Outdoor Inc. (NYSE: VSTO) today announced that its Board of Directors (the “Vista Outdoor Board”), following consultation with its financial and legal advisors, has rejected an unsolicited indication of interest received on February 19, 2024 from MNC Capital (“MNC”) pursuant to which MNC expressed interest in acquiring Vista Outdoor in an all-cash transaction for $35.00 per Vista share (the “MNC Indication”).

Key Points: 
  • Vista Outdoor Inc. (NYSE: VSTO) today announced that its Board of Directors (the “Vista Outdoor Board”), following consultation with its financial and legal advisors, has rejected an unsolicited indication of interest received on February 19, 2024 from MNC Capital (“MNC”) pursuant to which MNC expressed interest in acquiring Vista Outdoor in an all-cash transaction for $35.00 per Vista share (the “MNC Indication”).
  • The Vista Outdoor Board also issued a letter to MNC which is reproduced below.
  • We are confident that this is the best path to unlock value for our stockholders.”
    The full text of the letter to MNC follows:
    I am writing on behalf of Vista Outdoor Inc. (“Vista”) in response to MNC Capital’s (“MNC”) letters dated February 19, 2024 and February 28, 2024, expressing MNC’s interest in pursuing a transaction pursuant to which MNC would acquire Vista in an all-cash transaction for $35.00 per Vista share (the “MNC Indication”).
  • Morgan Stanley & Co. LLC is acting as sole financial adviser to Vista Outdoor and Cravath, Swaine & Moore LLP is acting as legal adviser to Vista Outdoor.

MNC Capital Submits Proposal to Acquire Vista Outdoor for $35.00 Per Share in Cash

Retrieved on: 
Friday, March 1, 2024

We are writing to express our strong interest in acquiring all the outstanding shares of Vista Outdoor Inc. (“Vista” or the “Company”) for a purchase price per share of $35.00 in cash (the “Transaction”).

Key Points: 
  • We are writing to express our strong interest in acquiring all the outstanding shares of Vista Outdoor Inc. (“Vista” or the “Company”) for a purchase price per share of $35.00 in cash (the “Transaction”).
  • The proposed price offers a substantial premium to Vista’s share price, which already reflects a takeover premium.
  • Given Vista’s share price is currently trading close to its 52-week high, our proposal also reflects a highly attractive value overall to Vista’s shareholders.
  • The Board is currently reviewing the proposal consistent with its fiduciary duties, in consultation with our legal and financial advisors.

Torres Trade Law Recognized in the Chambers Texas Regional Spotlight Guide for 2024

Retrieved on: 
Tuesday, February 20, 2024

DALLAS and WASHINGTON, Feb. 20, 2024 /PRNewswire/ -- Torres Trade Law is honored to have been recognized in the inaugural Chambers Regional Spotlight Texas Guide .

Key Points: 
  • DALLAS and WASHINGTON, Feb. 20, 2024 /PRNewswire/ -- Torres Trade Law is honored to have been recognized in the inaugural Chambers Regional Spotlight Texas Guide .
  • In its first ranking of the International Trade practice in Texas, Chambers – the world's leading legal rankings and insights intelligence company – recognizes Torres Trade Law as a leading small-to-medium-sized Texas law firm for the depth and breadth of its International Trade expertise.
  • Texas local firms are recognized based on their sizable share of legal work and impressive reputation in the Texas market.
  • Chambers writes: "Torres Trade Law, PLLC boasts an impressive customs, CFIUS, export controls and economic sanctions practice.

Top Space and Satellite Lawyer Joins Greenberg Traurig in Denver

Retrieved on: 
Monday, February 5, 2024

DENVER, Feb. 5, 2024 /PRNewswire-PRWeb/ -- Milton "Skip" Smith has joined global law firm Greenberg Traurig, LLP as chair of the Space and Satellite Industry Group, where his more than 40 years of experience as a leading lawyer will be a driving force supporting the firm's robust aerospace and defense capabilities in the space domain.

Key Points: 
  • DENVER, Feb. 5, 2024 /PRNewswire-PRWeb/ -- Milton "Skip" Smith has joined global law firm Greenberg Traurig, LLP as chair of the Space and Satellite Industry Group , where his more than 40 years of experience as a leading lawyer will be a driving force supporting the firm's robust aerospace and defense capabilities in the space domain.
  • Smith, who served as director of space law at Space Command and chief of space law for the Air Force, will be a shareholder in the Government Contracts Practice and reside in the Denver office .
  • "Greenberg Traurig is committed to taking our air and space industry capabilities to new heights, serving the unique demands of our clients in the fast-growing aerospace industry," said Ernest LaMont Greer, co-president of Greenberg Traurig.
  • Smith's extensive practice covers the gamut of space law including litigation, contracts, regulation, and transactional work.

Renesas Extends Tender Offer for Proposed Acquisition of Sequans

Retrieved on: 
Friday, February 2, 2024

Shareholders to Receive U.S. $0.7575 per Ordinary Share and U.S. $3.03 per ADS in cash

Key Points: 
  • Tokyo, Japan and Paris, France--(Newsfile Corp. - February 2, 2024) - Renesas Electronics Corporation (TSE: 6723) ("Renesas") and Sequans Communications S.A. (NYSE: SQNS) ("Sequans") today announced that Renesas has extended the expiration date of its tender offer to acquire all of the outstanding ordinary shares of Sequans for $0.7575 per ordinary share and American Depositary Shares ("ADSs") of Sequans for $3.03 per ADS (each ADS representing four ordinary shares) in cash, without interest and less any applicable withholding taxes.
  • The tender offer, which was previously scheduled to expire at one minute after 11:59 P.M., New York City time, on February 5, 2024, has been extended until one minute after 11:59 P.M., New York City time, on February 20, 2024, unless the tender offer is further extended or earlier terminated.
  • The tender offer was extended to allow additional time for the satisfaction of the remaining closing conditions of the tender offer, including, but not limited to, regulatory approvals (other than the previously announced CFIUS approval, NSIA approval and Taiwan merger control approval) and the valid tender of ordinary shares and ADSs of Sequans representing - together with ordinary shares and ADSs of Sequans beneficially owned by Renesas, if any - at least 90% of the fully diluted ordinary shares of Sequans.
  • The Bank of New York Mellon, the Tender Agent for the tender offer, has advised Renesas that as of 6 p.m., New York City time, on February 1, 2024, approximately 117,383,156 ordinary shares of Sequans (including ordinary shares represented by ADSs), representing approximately 42.3% of the fully diluted ordinary shares of Sequans, have been validly tendered and not properly withdrawn pursuant to the tender offer.

Momentus Completes All Requirements of the National Security Agreement (NSA)

Retrieved on: 
Wednesday, January 31, 2024

I am incredibly appreciative not just of all of their efforts, but also of the U.S. Government’s recognition that our achievements warranted ending the National Security Agreement at this time,” said Momentus Chairman and Chief Executive Officer John Rood.

Key Points: 
  • I am incredibly appreciative not just of all of their efforts, but also of the U.S. Government’s recognition that our achievements warranted ending the National Security Agreement at this time,” said Momentus Chairman and Chief Executive Officer John Rood.
  • “Momentus has now emerged from this rigorous process clear of any lingering security concerns.”
    “Over the course of the past two and half years, Momentus worked closely with the CFIUS Monitoring Agencies to implement a National Security Agreement.
  • Third-party monitoring and validation occurred throughout to assess effectiveness and develop a record of performance,” said Momentus Chief Security Officer Jason Garkey.
  • The CFIUS process required Momentus to mature its business procedures much faster than a typical early-stage company and accelerated capability development.

Renesas Extends Tender Offer for Proposed Acquisition of Sequans

Retrieved on: 
Monday, January 22, 2024

Shareholders to Receive U.S. $0.7575 per Ordinary Share and U.S. $3.03 per ADS in cash

Key Points: 
  • Tokyo, Japan and Paris, France--(Newsfile Corp. - January 22, 2024) - Renesas Electronics Corporation (TSE: 6723) ("Renesas") and Sequans Communications S.A. (NYSE: SQNS) ("Sequans") today announced that Renesas has extended the expiration date of its tender offer to acquire all of the outstanding ordinary shares of Sequans for $0.7575 per ordinary share and American Depositary Shares ("ADSs") of Sequans for $3.03 per ADS (each ADS representing four ordinary shares) in cash, without interest and less any applicable withholding taxes.
  • The tender offer, which was previously scheduled to expire at one minute after 11:59 P.M., New York City time, on January 22, 2024, has been extended until one minute after 11:59 P.M., New York City time, on February 5, 2024, unless the tender offer is further extended or earlier terminated.
  • The tender offer was extended to allow additional time for the satisfaction of the remaining closing conditions of the tender offer, including, but not limited to, regulatory approvals (other than the previously announced CFIUS approval, NSIA approval and Taiwan merger control approval) and the valid tender of ordinary shares and ADSs of Sequans representing - together with ordinary shares and ADSs of Sequans beneficially owned by Renesas, if any - at least 90% of the fully diluted ordinary shares of Sequans.
  • The Bank of New York Mellon, the Tender Agent for the tender offer, has advised Renesas that as of 6 p.m., New York City time, on January 19, 2024, approximately 116,077,972 ordinary shares of Sequans (including ordinary shares represented by ADSs), representing approximately 41.8% of the fully diluted ordinary shares of Sequans, have been validly tendered and not properly withdrawn pursuant to the tender offer.

Accelera by Cummins, Daimler Truck and PACCAR select Mississippi for battery cell production in the United States

Retrieved on: 
Thursday, January 18, 2024

Accelera™ by Cummins, the zero-emissions business segment of Cummins Inc. [NYSE: CMI], Daimler Trucks & Buses US Holding LLC [a Daimler Truck Group Company; DAX: DTR0CK; “Daimler Truck”] and PACCAR [NASDAQ: PCAR] have selected Marshall County, Mississippi, as the future site of advanced battery cell manufacturing for their planned joint venture.

Key Points: 
  • Accelera™ by Cummins, the zero-emissions business segment of Cummins Inc. [NYSE: CMI], Daimler Trucks & Buses US Holding LLC [a Daimler Truck Group Company; DAX: DTR0CK; “Daimler Truck”] and PACCAR [NASDAQ: PCAR] have selected Marshall County, Mississippi, as the future site of advanced battery cell manufacturing for their planned joint venture.
  • The planned joint venture between Accelera, Daimler Truck and PACCAR was announced in September 2023 and will create scale to deliver cost effective and differentiated battery cell technology that supports the adoption of electric vehicles for medium- and heavy-duty commercial transportation.
  • Accelera, Daimler Truck and PACCAR will each own 30% of, and jointly control, the business, which will focus on lithium-iron-phosphate (LFP) battery technology for commercial battery-electric trucks.
  • Accelera, Daimler Truck and PACCAR are leading the commercial vehicle sector’s transition to zero-emissions technologies.

3DEO Secures Strategic Investment From Development Bank of Japan and Seiko Epson Corporation to Accelerate Growth and Innovation

Retrieved on: 
Friday, January 19, 2024

3DEO, a Los Angeles-based leader in design, engineering and metal additive manufacturing (AM), today announced a significant investment from the Development Bank of Japan Inc. (DBJ) and Seiko Epson Corporation (EPSON).

Key Points: 
  • 3DEO, a Los Angeles-based leader in design, engineering and metal additive manufacturing (AM), today announced a significant investment from the Development Bank of Japan Inc. (DBJ) and Seiko Epson Corporation (EPSON).
  • The investment will propel 3DEO’s growth strategies in North America and Japan, expanding opportunities for partnership in the semiconductor, aerospace, medical devices and equipment, and industrial sectors.
  • The strategic investment by DBJ and EPSON aligns with DBJ's mandate to foster “technological innovation and reorganization of industry,” and with Epson's mission to promote “manufacturing innovation” under its Epson 25 Renewed Corporate Vision.
  • With this strategic investment, 3DEO is poised to further disrupt traditional and advanced manufacturing processes, bringing innovative products to market faster and more efficiently than ever before.