Private equity

Grayscale Digital Large Cap Fund Announces Resumption of Private Placement

Friday, July 10, 2020 - 9:02pm

New York, July 10, 2020 (GLOBE NEWSWIRE) -- Grayscale Investments , the worlds largest digital currency asset manager and manager of Grayscale Digital Large Cap Fund ( OTCQX: GDLC ) (the Fund), today announced that the Fund will resume the private placement of its shares.

Key Points: 
  • New York, July 10, 2020 (GLOBE NEWSWIRE) -- Grayscale Investments , the worlds largest digital currency asset manager and manager of Grayscale Digital Large Cap Fund ( OTCQX: GDLC ) (the Fund), today announced that the Fund will resume the private placement of its shares.
  • The Funds private placement is offered on a periodic basis throughout the year and is currently available to accredited investors for daily subscription.
  • Qualified investors should refer to the Funds private placement memorandum, which is available from Grayscale at info@grayscale.co, for a discussion of these and other risks.
  • For real time visibility into the daily performance and composition of the Fund, please refer to the TradeBlock Grayscale Digital Large Cap Index (DLCX): https://tradeblock.com/markets/dlcx .

Eldorado Resorts Secures Approval from Indiana Gaming Commission in Connection with Its Pending Acquisition of Caesars Entertainment

Friday, July 10, 2020 - 7:12pm

Eldorado Resorts, Inc. (NASDAQ: ERI) (Eldorado or the Company) announced that at a meeting today, the Company received approval from the Indiana Gaming Commission in connection with its pending acquisition of Caesars Entertainment Corporation (NASDAQ: CZR) (Caesars), subject to applicable conditions.

Key Points: 
  • Eldorado Resorts, Inc. (NASDAQ: ERI) (Eldorado or the Company) announced that at a meeting today, the Company received approval from the Indiana Gaming Commission in connection with its pending acquisition of Caesars Entertainment Corporation (NASDAQ: CZR) (Caesars), subject to applicable conditions.
  • Caesars Entertainment is one of the world's most diversified casino-entertainment providers and the most geographically diverse U.S. casino-entertainment company.
  • Since its beginning in Reno, Nevada, in 1937, Caesars Entertainment has grown through development of new resorts, expansions and acquisitions.
  • These forward-looking statements include, among others, statements regarding the timing and completion of the merger with Caesars Entertainment Corporation.

OneRail Announces Acceptance Into Microsoft for Startups Program

Friday, July 10, 2020 - 2:00pm

OneRail, an Orlando-based final mile delivery orchestration and fulfillment platform, announced its acceptance into the Microsoft for Startups immersive program today.

Key Points: 
  • OneRail, an Orlando-based final mile delivery orchestration and fulfillment platform, announced its acceptance into the Microsoft for Startups immersive program today.
  • Microsoft for Startups is an exclusive program that provides qualified B2B startups with technology and business enablement resources to help rapidly build products and accelerate business growth, while providing opportunities to sell as part of the partner ecosystem and alongside Microsoft sellers.
  • Since Microsoft for Startups first launched two years ago, Microsoft says this program is on pace to close over $1 billion in sales opportunities for its startups through its co-sell program.
  • We are pleased to help OneRail innovate and scale their business with the use of Microsoft Azure, said Phillip Friedman, Senior Director, Microsoft.

LTC Announces Date of Second Quarter 2020 Earnings Release, Conference Call and Webcast

Friday, July 10, 2020 - 2:30pm

LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending.

Key Points: 
  • LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending.
  • The portfolio is comprised of investments of approximately 50% seniors housing and 50% skilled nursing properties.
  • All statements other than historical facts contained in this press release are forward looking statements.
  • All forward looking statements included in this press release are based on information available to the Company on the date hereof, and LTC assumes no obligation to update such forward looking statements.

US Private Equity Activity Slows in Q2 2020 As Global Economies Struggle Through COVID-19 Pandemic

Friday, July 10, 2020 - 2:00pm

SEATTLE, July 10, 2020 /PRNewswire/ -- PitchBook , the premier data provider for the private and public equity markets, today released its 2Q 2020 US Private Equity Breakdown , which found the velocity of US PE investment activity further diminished in Q2 2020 as dealmakers felt the impact of the coronavirus pandemic.

Key Points: 
  • SEATTLE, July 10, 2020 /PRNewswire/ -- PitchBook , the premier data provider for the private and public equity markets, today released its 2Q 2020 US Private Equity Breakdown , which found the velocity of US PE investment activity further diminished in Q2 2020 as dealmakers felt the impact of the coronavirus pandemic.
  • In fact, many GPs sought to pull out of previously agreed upon deals, sometimes invoking the material adverse change (MAC) clause.
  • PE fundraising momentum will likely remain healthy, despite a slowdown from 2019's record-setting pace, with several mega-funds closing in the quarter.
  • Quarterly figures show an even steeper fall, with Q2 2020 deal value down more than a third from Q1 2019 values.

ITAB Publishes EBITDA Guidance for the Financial Year 2020 and its mid-term Profitability Ambition and Announces the Intention to Carry out a Capital Raise to Strengthen ITAB's Financial Position

Friday, July 10, 2020 - 12:27pm

The total restructuring costs for the One ITAB transformation plan are estimated to be in the range of 275 to 325 MSEK during the financial years 2020 - 2022.

Key Points: 
  • The total restructuring costs for the One ITAB transformation plan are estimated to be in the range of 275 to 325 MSEK during the financial years 2020 - 2022.
  • Following the capital raise, the Board of Directors believes that ITAB will be better balanced in its financing between equity and debt elements.
  • ITAB will provide further information in relation to the capital raise once available and report on any changes to the EBITDA guidance as deemed necessary.
  • The information was submitted for publication at 1.00 p.m. on 10 July 2020.

New Nordic Life Science Venture Fund, Eir Ventures, Launched to Leverage the Untapped Potential of Health Care Innovation

Friday, July 10, 2020 - 7:00am

STOCKHOLM and COPENHAGEN, Denmark, July 10, 2020 /PRNewswire/ -- Eir Ventures, a Nordic Life Science Venture Fund, today announced a first close of its new fund of EUR76 million.

Key Points: 
  • STOCKHOLM and COPENHAGEN, Denmark, July 10, 2020 /PRNewswire/ -- Eir Ventures, a Nordic Life Science Venture Fund, today announced a first close of its new fund of EUR76 million.
  • Eir Ventures will invest in high return potential opportunities in the Nordics, Europe and the US.
  • Novo Holdings is recognized as a leading international life science investor, with a focus on creating long-term value.
  • As a life science investor, Novo Holdings provides seed and venture capital to development-stage companies and takes significant ownership positions in growth and well-established companies.

New Nordic Life Science Venture Fund, Eir Ventures, Launched to Leverage the Untapped Potential of Health Care Innovation

Friday, July 10, 2020 - 7:00am

STOCKHOLM and COPENHAGEN, Denmark, July 10, 2020 /PRNewswire/ -- Eir Ventures, a Nordic Life Science Venture Fund, today announced a first close of its new fund of EUR76 million.

Key Points: 
  • STOCKHOLM and COPENHAGEN, Denmark, July 10, 2020 /PRNewswire/ -- Eir Ventures, a Nordic Life Science Venture Fund, today announced a first close of its new fund of EUR76 million.
  • Eir Ventures will invest in high return potential opportunities in the Nordics, Europe and the US.
  • Novo Holdings is recognized as a leading international life science investor, with a focus on creating long-term value.
  • As a life science investor, Novo Holdings provides seed and venture capital to development-stage companies and takes significant ownership positions in growth and well-established companies.

KiwiTech Launches Black Entrepreneurs Matter Demo Day Series to Support Black Lives Matter

Thursday, July 9, 2020 - 11:10pm

WASHINGTON, July 9, 2020 /PRNewswire-PRWeb/ -- KiwiTech , a startup accelerator, and technology services company, recently announced the launch of the Black Entrepreneurs Matter Demo Day Series to support the Black Lives Matter movement.

Key Points: 
  • WASHINGTON, July 9, 2020 /PRNewswire-PRWeb/ -- KiwiTech , a startup accelerator, and technology services company, recently announced the launch of the Black Entrepreneurs Matter Demo Day Series to support the Black Lives Matter movement.
  • "As our support to the Black Lives Matter movement, we are pleased to launch our Black Entrepreneurs Matter (BEM) Demo Day Series.
  • The company's first Black Entrepreneurs Matter Demo Day will be held virtually on July 13th.
  • "The BEM series is essentially our way of giving back to the community and supporting African-American entrepreneurs," added Ike Syed, VP, Strategic Partnerships, KiwiTech.

Total Corporate Funding for Solar Sector Reaches $4.5 Billion in 1H 2020, Reports Mercom Capital Group

Friday, July 10, 2020 - 8:00pm

Total corporate funding (including venture capital funding, public market, and debt financing) in 1H of 2020 came to $4.5 billion (B) compared to $6B in 1H 2019, a 25% drop year-over-year (YoY).

Key Points: 
  • Total corporate funding (including venture capital funding, public market, and debt financing) in 1H of 2020 came to $4.5 billion (B) compared to $6B in 1H 2019, a 25% drop year-over-year (YoY).
  • Project acquisition activity, typically a sign of health in the sector, declined significantly in Q2," said Raj Prabhu, CEO of Mercom Capital Group.
  • In 1H 2020, global VC funding (venture capital, private equity, and corporate venture capital) in the solar sector was 74% lower with $210m compared to $799M in 1H 2019.
  • A total of 23 VC investors participated in solar funding in 1H 2020.