Equity value

Fir Tree Issues Open Letter to Fellow SBB Noteholders Outlining Concerns with Company’s Tender Offer

Retrieved on: 
Monday, November 20, 2023

Fir Tree Partners (“Fir Tree” or “we”), a meaningful holder of the 2028 Notes and 2029 Notes guaranteed by Samhällsbyggnadsbolaget I Norden Ab (publ) (“SBB” or the “Company”), today issued an open letter to fellow noteholders to outline its concerns with the Company’s tender offer memorandum dated November 16, 2023.

Key Points: 
  • Fir Tree Partners (“Fir Tree” or “we”), a meaningful holder of the 2028 Notes and 2029 Notes guaranteed by Samhällsbyggnadsbolaget I Norden Ab (publ) (“SBB” or the “Company”), today issued an open letter to fellow noteholders to outline its concerns with the Company’s tender offer memorandum dated November 16, 2023.
  • We are writing to share our concerns regarding the tender offer memorandum, dated November 16, 2023 (the “Tender Offer Memorandum”), issued by Samhällsbyggnadsbolaget I Norden Ab (publ) (“SBB” or the “Company”).
  • From our perspective, this makes the Tender Offer open to question and leads us to ask: what is the Company’s true motive for offering Noteholders a Tender Offer at this moment in time?
  • We strongly encourage all Noteholders to consider the concerns outlined above before participating in the Tender Offer.

Gravitas Education Holdings Inc. Announces Results of the Extraordinary General Meeting on September 11, 2023

Retrieved on: 
Monday, September 11, 2023

BEIJING, Sept. 11, 2023 /PRNewswire/ -- Gravitas Education Holdings Inc. ("GEHI" or the "Company") (NYSE: GEHI), a leading early childhood education service provider in China, today announced the results of the Company's extraordinary general meeting of shareholders (the "EGM") held in Beijing today.

Key Points: 
  • BEIJING, Sept. 11, 2023 /PRNewswire/ -- Gravitas Education Holdings Inc. ("GEHI" or the "Company") (NYSE: GEHI), a leading early childhood education service provider in China, today announced the results of the Company's extraordinary general meeting of shareholders (the "EGM") held in Beijing today.
  • Each Class A ordinary share is entitled to one vote, and each Class B ordinary share is entitled to ten votes.
  • These shares represented approximately 92.7% of the total outstanding votes represented by the Company's total Class A ordinary shares and Class B ordinary shares outstanding as of the record date on August 7, 2023.
  • As of the date hereof, Best Assistant has formed eLMTree and eLMTree has executed and delivered a joinder to the Merger Agreement.

Carvana Completes All Equity Capital Requirements of Previously Announced Exchange Offer Transaction Support Agreement

Retrieved on: 
Monday, August 21, 2023

Carvana Co. (NYSE: CVNA) (“Carvana” or the “Company”), the fastest growing used car dealer in U.S. history, today announced that it has completed all equity capital requirements of its previously announced exchange offer transaction support agreement, by raising $126 million of equity capital (the “Garcia Equity Transaction”) from existing shareholders Ernest Garcia II and Ernest Garcia III, Carvana’s Chief Executive Officer (the “Garcia Parties”), in a transaction valuing the Company’s Class A common stock at $46.31 per share (the “Equity Value”), an 18% premium to the closing price on August 18, 2023.

Key Points: 
  • Carvana Co. (NYSE: CVNA) (“Carvana” or the “Company”), the fastest growing used car dealer in U.S. history, today announced that it has completed all equity capital requirements of its previously announced exchange offer transaction support agreement, by raising $126 million of equity capital (the “Garcia Equity Transaction”) from existing shareholders Ernest Garcia II and Ernest Garcia III, Carvana’s Chief Executive Officer (the “Garcia Parties”), in a transaction valuing the Company’s Class A common stock at $46.31 per share (the “Equity Value”), an 18% premium to the closing price on August 18, 2023.
  • (Photo: Business Wire)
    “We are pleased to announce that we have successfully fulfilled all equity capital requirements of the exchange offer transaction support agreement in anticipation of closing the transaction in the coming weeks,” said Mark Jenkins, Carvana’s Chief Financial Officer.
  • Taken together, the $225 million ATM Equity Transaction and the $126 million Garcia Equity Transaction fully satisfy the Company’s equity capital obligations pursuant to the exchange offer transaction support agreement (the “TSA”).
  • Carvana does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise.

GEHI Announces Acquisition of eLMTree and Divestiture of its PRC Business

Retrieved on: 
Tuesday, April 18, 2023

It's contemplated that Best Assistant will form a Cayman Islands exempted company limited by shares ("eLMTree") as its wholly owned subsidiary and transfer the education business of NetDragon outside of the PRC to eLMTree.

Key Points: 
  • It's contemplated that Best Assistant will form a Cayman Islands exempted company limited by shares ("eLMTree") as its wholly owned subsidiary and transfer the education business of NetDragon outside of the PRC to eLMTree.
  • Pursuant to Divestiture Agreement, immediately prior to the Closing, the Company will transfer all its education business in China to the Divestiture Purchaser (the "Divestiture") at a consideration of US$15 million (the "Divestiture Consideration").
  • Upon completion of the Divestiture, the Company will cease to operate any education business in China.
  • eLMTree is expected to comprise the non-PRC education business operated by NetDragon, including through the following subsidiaries (i) Promethean World Limited ("Promethean"); (ii) Edmodo, LLC.

Equitybee Launches Equity Value Finder to Provide Startup Employees with The Market Value of Stock Options

Retrieved on: 
Wednesday, March 29, 2023

Palo Alto, California--(Newsfile Corp. - March 29, 2023) - Equitybee , a FinTech company and a leading startup employees stock options funding platform, is launching Equity Value Finder.

Key Points: 
  • Palo Alto, California--(Newsfile Corp. - March 29, 2023) - Equitybee , a FinTech company and a leading startup employees stock options funding platform, is launching Equity Value Finder.
  • For the first time, Equitybee provides startup employees with the estimated dollar value of stock options.
  • However, today, startup employees simply don't know the value of personal stock options so employees mostly rely on guesses and sometimes false hopes.
  • Equitybee aims to fix this problem by providing startup employees with the estimated market value of personal stock options and funding solutions.

J.P. Morgan Asset Management Launches J.P. Morgan Small Cap Value ETF (JPSV) on NYSE Arca

Retrieved on: 
Wednesday, March 8, 2023

NEW YORK, March 8, 2023 /PRNewswire/ -- J.P. Morgan Asset Management today announced the launch of the JPMorgan Active Small Cap Value ETF (JPSV), an actively managed small cap ETF that seeks to outperform the Russell 2000 Value Index. The strategy employs a bottom-up approach and aims to identify high quality small cap companies at attractive valuations. The fund will utilize the New York Stock Exchange (NYSE) Active Proxy Model (the Model) and will be traded on NYSE Arca.

Key Points: 
  • NEW YORK, March 8, 2023 /PRNewswire/ -- J.P. Morgan Asset Management today announced the launch of the JPMorgan Active Small Cap Value ETF (JPSV), an actively managed small cap ETF that seeks to outperform the Russell 2000 Value Index.
  • The fund will utilize the New York Stock Exchange (NYSE) Active Proxy Model (the Model) and will be traded on NYSE Arca.
  • JPSV will provide investors access to J.P. Morgan Asset Management's expertise in the active management of U.S. small cap value equities.
  • Lawrence (Larry) Playford, co-portfolio manager of the JPMorgan Mid Cap Value Fund and the JPMorgan Small Cap Blend Fund, will serve as lead portfolio manager for JPSV, priced at 74 basis points.

China Liberal Education Holdings Limited Signs Letter of Intent with Aiways

Retrieved on: 
Friday, September 16, 2022

BEIJING, Sept. 16, 2022 /PRNewswire/ -- China Liberal Education Holdings Limited (Nasdaq: CLEU) (the "Company," "ListCo" or "our"), a China-based company that provides smart campus solutions and other educational services, today announced that it has entered into a non-binding letter of intent ("LOI") with Aiways Holdings Limited ("Aiways"), a global new electric vehicle brand, to acquire all the outstanding equity interest of Aiways (the "Acquisition").

Key Points: 
  • BEIJING, Sept. 16, 2022 /PRNewswire/ -- China Liberal Education Holdings Limited (Nasdaq: CLEU) (the "Company," "ListCo" or "our"), a China-based company that provides smart campus solutions and other educational services, today announced that it has entered into a non-binding letter of intent ("LOI") with Aiways Holdings Limited ("Aiways"), a global new electric vehicle brand, to acquire all the outstanding equity interest of Aiways (the "Acquisition").
  • The Company has not entered into a binding agreement with Aiways with respect to the Acquisition.
  • Aiways Holdings Limited is a global new electric vehicle ("NEV") brand that designs, develops and jointly manufactures smart NEVs.
  • Aiways has designed and engineered smart NEVs to meet the quality and safety requirements in both China and the European Union.

"NASDAQ, Embracing The Korean Wave." Hanryu Bank, Officially Signed The IPO Contract for the U.S NASDAQ Listing

Retrieved on: 
Monday, November 22, 2021

SEOUL, South Korea, Nov. 22, 2021 /PRNewswire/ -- Hanryu Bank, which is the global Korean Wave platform corporation, is beginning preliminary examination for listing on the U.S NASDAQ through the U.S subsidiary Hanryu Holdings.

Key Points: 
  • This is the first time a Korean Startup is preparing the U.S NASDAQ listing.
  • Hanryu Bank announced on the 22nd that it has recently signed a contract with AEGIS CAPITAL CORP as the underwriter of the IPO after completing an audit for listing on the NASDAQ.
  • It has supported the listing of Cyngn Inc, Volcon Inc, Farmmi Inc, Meten Holding Group Ltd. on the NASDAQ.
  • With the selection of the underwriter, Hanryu Bank is planning to officially submit listing-related documents to the US Securities and Exchange Commission (SEC) in November.

Maxcom informs final results

Retrieved on: 
Sunday, November 7, 2021

de C.V. (BMV: MAXCOM A, OTC: MXMTY) ("Maxcom" or the "Company")informs that Transtelco Holding, Inc. (the "Offeror") announced yesterday the final results of the previously announced cash tender offer (the "Notes Offer") to purchase any and all of the 8% Senior Secured Notes due 2024 (the "Notes") issued by Maxcom and the solicitation of consents to amend the indenture governing the Notes (the "Consent Solicitation") to effect certain amendments (the "Proposed Amendments")to the indenture governing the Notes.

Key Points: 
  • de C.V. (BMV: MAXCOM A, OTC: MXMTY) ("Maxcom" or the "Company")informs that Transtelco Holding, Inc. (the "Offeror") announced yesterday the final results of the previously announced cash tender offer (the "Notes Offer") to purchase any and all of the 8% Senior Secured Notes due 2024 (the "Notes") issued by Maxcom and the solicitation of consents to amend the indenture governing the Notes (the "Consent Solicitation") to effect certain amendments (the "Proposed Amendments")to the indenture governing the Notes.
  • In connection with the preceding, Maxcom announces that on November 5, 2007, the period of the Stock Offer ended, per the previously announced extension.
  • With these results, both bids exceeded the minimum participation requirements established by the offerors for their successful completion.
  • Maxcom thanks the continued support of all its stakeholders and confirms its commitment to maintaining close communication with the investing public.

Maxcom Telecomunicaciones announces that Transtelco Acquisition III today initiated a mandatory acquisition tender offer

Retrieved on: 
Friday, September 24, 2021

MEXICO CITY, Sept. 24, 2021 /PRNewswire/ -- Maxcom Telecomunicaciones S.A.B. de C.V. (BMV: MAXCOM A, OTC: MXMTY) ("Maxcom" or the "Company") announces that Transtelco Acquisition III, S. de R.L. de C.V. (the "Offeror"), today initiated, in accordance with the Mexican Stock Exchange Act (Ley del Mercado de Valores or "LMV") and the General Regulations for Issuers and Other Participants of the Stock Exchange (Disposiciones de Carácter General Aplicables a Emisoras y a Otros Participantes del Mercado de Valores (the "Regulations") a mandatory acquisition tender offer (the "Equity Tender Offer") to acquire through Bolsa Mexicana de Valores, S.A.B. de C.V., S.A.B. de C.V., S.A.B. de C.V., up to all of the shares representing the capital stock of the Company, which represent 276'471,081 ordinary, nominative, without par value, subscribed and fully paid series "A" shares, at a purchase price of $2.20 (two Pesos 20/100, Mexican pesos), per share. 

Key Points: 
  • de C.V. (BMV: MAXCOM A, OTC: MXMTY) ("Maxcom" or the "Company") announces that Transtelco Acquisition III, S. de R.L.
  • The Notes Tender Offer and Consent Solicitation will remain in effect until October 21, 2021 unless extended at the request of Transtelco.
  • Furthermore, the successful conclusion of the Equity Tender Offer is conditioned upon the successful completion of the Notes Tender Offer and vice versa, among other conditions.
  • For more information on the Equity Tender Offer, the Notes Tender Offer, and the Consent Solicitation, please visit the Company's website: http://ri.maxcom.com/ .