Month: May 2021

Release – Entravision Communications Corporation Earns Great Place to Work Certification

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Entravision Communications Corporation Earns Great Place to Work Certification

SANTA MONICA, Calif.–(BUSINESS WIRE)– Entravision Communications Corporation (NYSE: EVC), a leading global media and marketing technology company, is proud to announce that the Company has been Certified™ by Great Place to Work® for the second time. This prestigious award is based entirely on the feedback of current employees. Approximately 80% of Entravision employees actively identified the Company as a ‘great place to work,’ which is 19 percentage points higher than that of the average U.S. company.

“We are thrilled to become Great Place to Work-Certified for the second time,” said Entravision’s Executive Vice President of Global Human Resources and Risk Management, Alexander LaBrie. “Ensuring a top-notch employee experience is an everyday priority at Entravision. We owe our success to our entire team of employees who continued to show their incredible dedication to Entravision and our customers even during one of the most difficult years in economic history. We celebrate and thank each and every one of our employees for all they do for our company, which has enabled Entravision to earn such an incredible recognition not once, but twice.”

“Receiving a Great Place to Work Certification is not something that comes easily. Rather, it takes ongoing dedication by a company to their overall employee experience from the initial hiring to ongoing workplace development,” said Vice President of Global Recognition at Great Place to Work, Sarah Lewis Kulin. “It’s the only official recognition determined by employees’ real-time reports of their company’s culture. Earning this designation means that Entravision’s employees truly believe that their company is one of the best to work for in the country.”

For nearly three decades, Great Place to Work® has been the global authority on workplace culture, employee experience, and leadership behaviors. Companies who receive this prominent certification have proven to deliver market-leading revenue, employee retention and increased innovation to their industries, while job seekers of such companies are 4.5 times more likely to find a great boss. Additionally, employees at Certified™ workplaces are 93% more likely to look forward to coming to work on a daily basis and are twice as likely to be paid fairly, earning a just share of their company’s profits with strong opportunities for continued promotion.

Entravision Communications Corporation last earned the Great Place to Work Certification™ in 2017.

About Entravision Communications Corporation

Entravision is a diversified global media, marketing and technology company serving clients throughout the United States and in more than 20 countries across Latin America, Europe, and Asia. Entravision has 54 television stations and is the largest affiliate group of the Univision and UniMás television networks, and 48 Spanish-language radio stations that feature nationally recognized, award-winning talent. Our dynamic digital portfolio includes Entravision Digital, which serves SMBs in high-density U.S. Latino markets and provides cutting-edge mobile programmatic solutions and demand-side platforms that allow advertisers to execute performance campaigns using machine-learned bidding algorithms, along with Cisneros Interactive, a leader in digital advertising solutions in the Latin American and U.S. Hispanic markets representing major technology platforms. Shares of Entravision Class A Common Stock trade on The New York Stock Exchange under the ticker symbol: EVC. Learn more about all of our media, marketing and technology offerings at entravision.com or connect with us on LinkedIn and Facebook.

About Great Place to Work Certification™

Great Place to Work® Certification™ is the most definitive “employer-of-choice” recognition that companies aspire to achieve. It is the only recognition based entirely on what employees report about their workplace experience – specifically, how consistently they experience a high-trust workplace. Great Place to Work Certification is recognized worldwide by employees and employers alike and is the global benchmark for identifying and recognizing outstanding employee experience. Every year, more than 10,000 companies across 60 countries apply to get Great Place to Work-Certified.

About Great Place to Work®

Great Place to Work® is the global authority on workplace culture. Since 1992, they have surveyed more than 100 million employees worldwide and used those deep insights to define what makes a great workplace: trust. Their employee survey platform empowers leaders with the feedback, real-time reporting and insights they need to make data-driven people decisions. Everything they do is driven by the mission to build a better world by helping every organization become a great place to work For All™. Learn more at greatplacetowork.com and on LinkedIn, Twitter, Facebook and Instagram.

Forward-Looking Statements

This press release contains certain forward-looking statements. These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this press release. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that actual results will not differ materially from these expectations, and the Company disclaims any duty to update any forward-looking statements made by the Company. From time to time, these risks, uncertainties and other factors are discussed in the Company’s filings with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210513005266/en/

Christopher T. Young
Chief Financial Officer
Entravision Communications Corporation
310-447-3870

Kimberly Esterkin
ADDO Investor Relations
310-829-5400

evc@addo.com

Source: Entravision Communications Corporation

Release – Endeavour Silver Announces 2021 Annual General Meeting Results

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Endeavour Silver Announces 2021 Annual General Meeting Results

VANCOUVER, British Columbia,
May 12, 2021 (GLOBE NEWSWIRE) — Endeavour Silver Corp. (NYSE: EXK; TSX: EDR) announces that at the Company’s 2021 Annual General Meeting (“AGM”) held on May 12, 2021 in Vancouver, shareholders voted in favour of all items of business. A total of 67,521,897 votes were cast or represented by proxy at the AGM, representing 41.25% of the outstanding common shares as of the record date. The following is a tabulation of the votes submitted by proxy:

Director

Votes for

Votes withheld

Percent for

Percent withheld

Margaret M. Beck        

34,983,870

749,106

97.90%

2.10%

Ricardo M. Campoy

35,070,420

662,556

98.15%

1.85%

Bradford J. Cooke

33,801,339

1,931,637

94.59%

5.41%

Geoffrey A. Handley

33,025,727

2,707,250

92.42%

7.58%

Rex J. McLennan

34,891,330

841,646

97.64%

2.36%

Kenneth Pickering

35,004,529

728,448

97.96%

2.04%

Mario D. Szotlender

34,601,368

1,131,608

96.83%

3.17%

All director nominees were re-elected.

By a vote by show of hands, shareholders voted 98.09% in favour of re-appointing KPMG LLP as auditor of the Company and authorized the Board to fix the auditor’s remuneration for the ensuing year. In addition, shareholders also voted 97.51% in favour to reconfirm the Stock Option Plan, as amended by Amendment No. 5 and 97.75% in favour of the Share Unit Plan.

As previously announced, effective today, Bradford Cooke has been appointed Executive Chair of the Board and has stepped down as CEO. Dan Dickson has assumed the role of CEO and has been appointed to the Board, Christine West has assumed the role of CFO and Rex McLennan has been selected as Lead Director of Endeavour. Geoff Handley has stepped down as Chairman but plans to remain an active Director of the Company.

Bradford Cooke commented, “I want to thank all of the people who have supported me over the past 17 years in building up Endeavour Silver to the Company it is today, including our management team, board of directors and of course our shareholders. We have done some great things together but we are not half done yet.”

“The time has come to pass the management baton to our rising stars, Dan Dickson and Christine West. I plan to stay active with Endeavour, utilizing my knowledge of and contacts in the mining industry to continue building a bigger and better Company, and supporting Dan and Christine in their new roles. We appreciate the vote of confidence of our directors and shareholders.”

About Endeavour Silver – Endeavour Silver Corp. is a mid-tier precious metals mining company that owns and operates three high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer.  Our philosophy of corporate social integrity creates value for all stakeholders.

SOURCE Endeavour Silver Corp.

Contact Information:
Galina Meleger, Director Investor Relations
Toll free: (877) 685-9775
Tel: (604) 640-4804
Email: 
gmeleger@edrsilver.com  
Website: 
www.edrsilver.com

Release – Noble Capital Markets, Channelchek, to Host Investor Forum – C-Suite Interviews – at Prestigious 16th Annual World Stem Cell Summit

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Noble Capital Markets and Channelchek to Host Investor Forum C-Suite Interviews During Prestigious 16th Annual World Stem Cell Summit

View the Investor Forum Presentations Here

View the Official Investor Forum Book Here

Boca Raton, FL– Noble Capital Markets (Noble), a research-driven investment bank, today announces its platinum-level sponsorship of, and collaboration with, the 16th World Stem Cell Summit, to be held virtually June 14-18, 2021. Noble will also provide significant content through its small and microcap investor portal, Channelchek.com.

Produced by the nonprofit Regenerative Medicine Foundation (RMF), the 2021 Summit is the most inclusive and expansive interdisciplinary networking and partnering meeting in the stem cell translation and regenerative medicine field. With the overarching purpose of fostering biomedical research, funding and investments targeting cures, the Summit is the single conference serving the diverse ecosystem of regenerative medicine stakeholders. Combined with the WFIRM & RMF Regenerative Medicine Essentials Course, the Summit provides distinctive educational and futuristic experiences through which all participants collect opportunities, become inspired and flourish.  

“This segment of life sciences represents an exciting opportunity for investors and, more importantly, breakthroughs in terms of disease control and the overall quality and longevity of life,” said Nico Pronk, Noble’s president and CEO. “It is our passion at Noble, and we’re extremely excited to serve as the principal partner of the Investor Forum track at the Summit.”

Bernard Siegel, executive director of RMF and founder of the World Stem Cell Summit said, “There is huge investor interest in the regenerative medicine and longevity space. I’ve attended Noble’s superbly organized, large-scale NobleCon investor conference. Their meetings deliver the critical content and context investors need. We are delighted to have Noble and Channelchek as our partners, providing expertise and unsurpassed connectivity.”

Bernard Siegel, executive director of RMF and founder of the World Stem Cell Summit said, “There is huge investor interest in the regenerative medicine and longevity space. I’ve attended Noble’s superbly organized, large-scale NobleCon investor conference. Their meetings deliver the critical content and context investors need. We are delighted to have Noble and Channelchek as our partners, providing expertise and unsurpassed connectivity.”

For more than 35 years, Noble has supported small and microcap companies – many in the life sciences space – through investment banking activities and institutional-quality equity research. In 2018, the company launched Channelchek.com, a website that offers the free distribution of news, advanced market data, extensive video content and equity research to every level of investor, ranging from novice through to institutional. There are more than 6,000 companies listed on the site that fit the small/microcap definition.

For the Summit, Noble will produce a track of interviews (“ChannelCasts”) with executives from participating life sciences companies. As many as 12 are expected, with three – Celularity, Longeveron and Avalon GloboCare – among the first to register. Each of these C-Suite interviews will consist of a detailed explanation of the company business and financial plan, followed by an investor-oriented Q&A session moderated by a FINRA-licensed senior research analyst from Noble. Channelchek will be the platform used to build awareness of the Summit and the participating companies to its user base of 50,000+, as well as for the rebroadcast of the C-Suite Series Interviews (the recordings will also be available on the Channelchek YouTube Channel.) As with all other content on Channelchek, there will be no cost to access these ChannelCasts.

World Stem Cell Summit Website  |  Channelchek
Free Access to the
Investor Forum at
the World Stem
Cell Summit

 

About
Noble Capital Markets, Inc. / Channlechek.com

Noble Capital Markets (“Noble”) www.noblecapitalmarkets.com  is a research driven boutique investment bank that has supported small & microcap companies since 1984. As a FINRA and SEC licensed and registered broker-dealer Noble provides institutional-quality equity research, merchant and investment banking, wealth management and order execution services. In 2005, Noble established NobleCon, an investor conference that has grown substantially over the last decade and a half. In 2018 Noble launched channelchek.vercel.app – an investment community dedicated exclusively to small and micro-cap companies and their industries. Channelchek is tailored to meet the needs of self-directed investors and financial professionals and is the first service to offer institutional-quality research to the public, for FREE at every level without a subscription. More than 6,000 emerging growth companies are listed on the site, with growing content including webcasts, industry sector reports, advanced market data and balanced news.

 

Contact & Info:

Mark Pinvidic

mpinvidic@noblecapitalmarkets.com

www.noblecapitalmarkets.com

channelchek.vercel.app

worldstemcellsummit.com

FAT Brands Inc. (FAT) – Momentum Continues to Build

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Thursday, May 13, 2021

FAT Brands Inc. (FAT)
Momentum Continues to Build

FAT Brands Inc is a multi-brand restaurant franchising company. It develops, markets, and acquires predominantly fast casual restaurant concepts. The company provides turkey burgers, chicken Sandwiches, chicken tenders, burgers, ribs, wrap sandwiches, and others. Its brand portfolio comprises Fatburger, Buffalo’s Cafe and Express, and Ponderosa and Bonanza. The company’s overall footprint covers nearly 32 countries. Fatburger generates maximum revenue for the company.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    1Q21 Results. Fat Brands reported 1Q21 revenue of $6.6 million, compared to $4.4 million in 1Q20. The increased revenue was driven by royalties, which rose to $4.9 million in the quarter from $3.3 million in 1Q20. Cost and expenses were impacted by increased compensation and legal expenses, which combined with higher interest expense, resulted in a reported loss for the quarter of $2.4 million, or $0.20 per share, compared to a loss of $2.4, or $0.20 per share last year. We had projected revenue of $6.75 million and a net loss of $675,000, or $0.06 per share.

    Sales Trends Improving.  The first quarter saw a continuation of improving sales trends off COVID lows. System-wide sales were $114.4 million in the quarter, up from $47.7 million in 2Q20, and $84.9 million in 1Q20. Average weekly sales hit nearly $19 million for the month of April, up from $18.1 million in March and $8.7 million in the year ago April. Third party delivery sales rose 70% in 1Q21 …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Pangaea Logistics Solutions Ltd. (PANL) – Trifecta: Solid Results Expanding Fleet and Higher Float

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Thursday, May 13, 2021

Pangaea Logistics Solutions Ltd. (PANL)
Trifecta: Solid Results, Expanding Fleet and Higher Float

Pangaea Logistics Solutions Ltd and its subsidiaries provide seaborne drybulk transportation services. It transports drybulk cargos including grains, coal, iron, ore, pig, iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite and limestone. The firm’s services include cargo loading, cargo discharge, vessel chartering, voyage planning and technical vessel management. The company derives all of its revenues from contracts of affreightment, voyage charters and time charters. Its strategy depends on focusing on increasing strategic contracts of affreightment, expanding capacity and flexibility by increasing its owned fleet and increasing backhaul focus and fleet efficiency.

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    1Q2021 TCE Rates Above Expectations and 2Q2021 Off to Good Start. 1Q2020 EBITDA of $11.8 million was above expectations by $1.9 million mainly due to higher-than-expected TCE rates of $16.5k/day and higher shipping days of 4,668. Due to a rapidly rising rate market, the unique and consistent business model delivered modest TCE rate outperformance of $254, or well below more than $4.4k/day in 4Q2020.

    Revising 2021 EBITDA estimate to $63.4 million based on TCE rates of $21.0k/day from $53.5 million based on TCE rates of $15.8k/day and total shipping days of 19,260.  Looking at the rest of the year, we believe that the prospects look very good for the dry bulk market. The fleet renewal program should also have a positive impact and forward cover is 64% of estimated 2Q2021 shipping days booked at …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Capstone Green Energy Corporation (CGRN)(CGRN:CA) – Capstone Receives Hydrogen Microturbine Order

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Thursday, May 13, 2021

Capstone Green Energy Corporation (CGRN)(CGRN:CA)
Capstone Receives Hydrogen Microturbine Order

Capstone Green Energy Corp is the producer of low-emission microturbine systems. The company develops, manufactures, markets and services microturbine technology solutions for use in stationary distributed power generation applications. Capstone Turbine’s products include onboard generation for hybrid electric vehicles; conversion of oil field and biomass waste gases into electricity; combined heat, power, and chilling solutions; capacity addition; and standby power.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Capstone Green Energy (formerly Capstone Turbine) received an order for a microturbine intended to run on hydrogen. The order by Blue Economy CRC, a cooperative research center working in partnership to develop Australia’s aquaculture industry, represents the first hydrogen microturbine for Capstone. Capstone only recently released its first commercial Combined Heat and Power product, which runs on 10% hydrogen and 90% natural gas. Capstone is testing a 30% hydrogen unit and has begun research on a 100% hydrogen unit.

    The unit will use hydrogen generated from renewable sources.  Blue Economy and partners will use hydrogen from solar, wind and wave sources to feed the microturbine. It will be part of a microgrid that will support offshore research and aquaculture for food production. It will allow the potential for 100% hydrogen-fuel-based power generation in the future. The initial stage is designed to provide …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Release – PLBY Group Reports First Quarter 2021 Financial Results

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PLBY Group Reports First Quarter 2021 Financial Results

First Quarter 2021 Revenue Up 34% Year-Over-Year to $42.7 Million

LOS ANGELES, May 12, 2021 (GLOBE NEWSWIRE) — PLBY Group, Inc. (NASDAQ: PLBY) (“PLBY Group” or the “Company”), a leading pleasure and leisure lifestyle company and owner of Playboy, one of the most recognizable and iconic brands in the world, today provided financial results for the first quarter ended March 31, 2021.

Ben Kohn, Chief Executive Officer of PLBY Group, stated, “Our strong first quarter financial performance reflects the exciting growth potential of our direct-to-consumer business, which experienced triple digit revenue growth year-over-year as we successfully increased merchandising, cross-selling, and influencer marketing programs. I’m especially pleased with our results considering we continue to experience short-term, industry-wide supply chain disruptions leading to out-of-stocks on select items.”

Mr. Kohn continued, “We’re also thrilled by the recent performance of our first NFT art drop, a symbol of the infinite product experiences we can build off the back of our iconic flagship brand and rich archive. We are in the early innings of unlocking the tremendous potential of our intellectual property and global fan base and remain focused on investing today in opportunities to drive superior long-term growth and deliver substantial long-term value for our shareholders.”

First
Quarter 2021 Financial Highlights

  • Revenue grew 34% year-over-year to $42.7 million, driven by 114% growth in direct-to-consumer revenue in the comparable period.
  • Net loss was $5.0 million, largely due to a $13.8 million year-over-year increase in selling and administrative expenses as the Company incurred $6.3 million of non-recurring items related to the closing of its recent business combination, including a $2.7 million increase in stock-based compensation expense. Additionally, the Company had increased costs related to M&A transaction expenses, ongoing costs attributable to acquired businesses, and expenses associated with being a newly public company.
  • Adjusted EBITDA was $6.7 million and was burdened by an additional $1.5 million of one-time expenses related to M&A transaction expenses, severance, and COVID testing at the Company’s fulfillment center, none of which were added back to arrive at adjusted EBITDA.

Webcast
Details
The Company will host a webcast at 5:00 p.m. Eastern Time on May 12, 2021 to discuss first quarter 2021 results. Participants may access the live webcast on the PLBY Group, Inc. Investor Relations website at https://www.plbygroup.com/investors.

About
PLBY Group, Inc.
PLBY Group connects consumers around the world with products, services, and experiences to help them look good, feel good, and have fun. PLBY Group serves consumers in four major categories: Sexual Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & Grooming. PLBY Group’s flagship consumer brand, Playboy, is one of the most recognizable, iconic brands in the world, driving billions of dollars in consumer spending annually across 180 countries. Learn more at http://www.plbygroup.com.

Forward-Looking
Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. The Company’s actual results may differ from their expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations with respect to future performance, growth plans and anticipated financial impacts of the business combination and the Lovers acquisition.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Factors that may cause such differences include, but are not limited to: (1) the impact of COVID-19 pandemic on the Company’s business; (2) the inability to maintain the listing of the Company’s shares of common stock on Nasdaq; (3) the risk that the business combination, recent acquisitions or any proposed transactions disrupt the Company’s current plans and operations, including the risk that the Company does not complete any such proposed transactions or achieve the expected benefit from them; (4) the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the Company to grow and manage growth profitably, and retain its key employees; (5) costs related to the business combination; (6) changes in applicable laws or regulations; (7) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (8) risks relating to the uncertainty of the projected financial information of the Company; (9) risks related to the organic and inorganic growth of the Company’s business and the timing of expected business milestones; and (10) other risks and uncertainties indicated from time to time in the Company’s annual report on Form 10-K, including those under “Risk Factors” therein, and in the Company’s other filings with the Securities and Exchange Commission. The Company cautions that the foregoing list of factors is not exclusive, and readers should not place undue reliance upon any forward-looking statements, which speak only as of the date which they were made. The Company does not undertake any obligation to update or revise any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

Contact:
Investors: 
investors@plbygroup.com
Media: 
press@plbygroup.com

Release – PDS Biotech Provides Business Update and Reports First Quarter 2021 Financial Results

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PDS Biotech Provides Business Update and Reports First Quarter 2021 Financial Results

FLORHAM PARK, N.J., May 13, 2021 (GLOBE NEWSWIRE) — PDS Biotechnology Corporation (Nasdaq: PDSB), a clinical-stage immunotherapy company developing novel cancer therapies and infectious disease vaccines based on the Company’s proprietary Versamune® T-cell activating technology, will discuss its financial results for the quarter ended March 31, 2021 and provide a business update on its conference call today.

Recent Business Highlights:

  • National Cancer Institute to present interim efficacy and safety data of PDS0101 Phase 2 clinical trial in an oral presentation at the American Society of Clinical Oncology (ASCO) 2021 Annual Meeting on June 7, 2021. This trial is evaluating PDS0101 with two clinical stage immunotherapies from EMD Serono, a first in class bifunctional checkpoint inhibitor Bintrafusp Alfa (M7824) and an antibody conjugated cytokine M9241 (NHS-IL12), in patients with all types of advanced HPV-associated cancers, whose cancer has returned or spread after treatment.
  • COVID-19 consortium received a commitment from the Secretary for Research and Scientific Training of The Ministry of Science, Technology and Innovation of Brazil (MCTI) to fund up to approximately US$60 million to support the clinical development and commercialization of a Versamune®-based COVID-19 vaccine by Farmacore in Brazil. 

“We look forward to the presentation of preliminary efficacy and safety data from the National Cancer Institute (NCI)-led Phase 2 combination study of PDS0101 at the ASCO conference in early June.  ASCO provides an important opportunity to present the potential of PDS0101 and the Versamune® platform in oncology to the research and medical community,” commented Dr. Frank Bedu-Addo, President and Chief Executive Officer of PDS Biotech, “The presentation of the human clinical efficacy data at ASCO is an important milestone both for PDS0101 and our entire Versamune®-based oncology pipeline.”

First Quarter 2021 Financial Results
PDS Biotech reported a net loss of approximately $3.0 million, or $0.14 per basic share and diluted share, for the three months ended March 31, 2021 compared to a net loss of approximately $4.0 million, or $0.39 per basic share and diluted share, for the three months ended March 31, 2020.

Research and development (R&D) expenses decreased 28% to approximately $1.4 million for the three months ended March 31, 2021 from approximately $2.0 million for the three months ended March 31, 2020. The decrease of approximately $0.6 million in 2021 was primarily attributable to a decrease of $0.3 million in professional services and $0.3 million in clinical studies.

General and administrative expenses decreased 21% to approximately $1.6 million for the three months ended March 31, 2021 from approximately $2.1 million for the three months ended March 31, 2020. The decrease of approximately $0.5 million is primarily attributable to a decrease in professional services of approximately $0.7 million which includes legal fees of approximately $0.2 million, offset by an increase of approximately $0.2 million in personnel costs.

Total operating expenses decreased 24% to approximately $3.0 million for the three months ended March 31, 2021 from approximately $4.0 million for the three months ended March 31, 2020. 

PDS Biotech’s cash balance as of March 31, 2021 was approximately $25.0 million.

Conference Call and Webcast
The conference call is scheduled to begin at 8:00 am ET on Thursday, May 13, 2021. Participants should dial 877-407-3088 (United States) or 201-389-0927 (International) and mention PDS Biotech. Participants can also access the conference call via webcast on the investor relations page of the Company’s corporate website (link).

The event will be archived in the investor relations section of PDS Biotech’s website for 6 months. In addition, a telephonic replay of the call will be available for 6 months. The replay can be accessed by dialing 877-660-6853 (United States) or 201-612-7415 (International) with confirmation code 13716518.

About PDS Biotech

PDS Biotech is a clinical-stage immunotherapy company developing a growing pipeline of cancer immunotherapies and infectious disease vaccines based on the Company’s proprietary Versamune® T-cell activating technology platform. Our Versamune®-based products overcome the limitations of current immunotherapy by inducing in vivo, large quantities of high-quality, highly potent polyfunctional  tumor specific CD4+ helper and CD8+ killer T-cells. PDS Biotech has developed multiple therapies, based on combinations of Versamune
® and disease-specific antigens, designed to train the immune system to better recognize diseased cells and effectively attack and destroy them. Our immuno-oncology product candidates are initially being studied in combination therapy to potentially enhance efficacy without compounding toxicity across a range of cancer types. The Company’s lead investigational cancer immunotherapy product PDS0101 is currently in Phase 2 clinical studies in HPV-associated cancers. To learn more, please visit www.pdsbiotech.com or follow us on Twitter at @PDSBiotech.

Forward Looking Statements
This communication contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning PDS Biotechnology Corporation (the “Company”) and other matters. These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the Company’s management, as well as assumptions made by, and information currently available to, management. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,” “forecast,” “guidance”, “outlook” and other similar expressions among others. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: the Company’s ability to protect its intellectual property rights; the Company’s anticipated capital requirements, including the Company’s anticipated cash runway and the Company’s current expectations regarding its plans for future equity financings; the Company’s dependence on additional financing to fund its operations and complete the development and commercialization of its product candidates, and the risks that raising such additional capital may restrict the Company’s operations or require the Company to relinquish rights to the Company’s technologies or product candidates; the Company’s limited operating history in the Company’s current line of business, which makes it difficult to evaluate the Company’s prospects, the Company’s business plan or the likelihood of the Company’s successful implementation of such business plan; the timing for the Company or its partners to initiate the planned clinical trials for PDS0101, PDS0203 and other Versamune® based products; the future success of such trials; the successful implementation of the Company’s research and development programs and collaborations, including any collaboration studies concerning PDS0101, PDS0203 and other Versamune® based products and the Company’s interpretation of the results and findings of such programs and collaborations and whether such results are sufficient to support the future success of the Company’s product candidates; the success, timing and cost of the Company’s ongoing clinical trials and anticipated clinical trials for the Company’s current product candidates, including statements regarding the timing of initiation, pace of enrollment and completion of the trials (including our ability to fully fund our disclosed clinical trials, which assumes no material changes to our currently projected expenses), futility analyses, presentations at conferences and data reported in an abstract, and receipt of interim results, which are not necessarily indicative of the final results of the Company’s ongoing clinical trials; the acceptance by the market of the Company’s product candidates, if approved; the timing of and the Company’s ability to obtain and maintain U.S. Food and Drug Administration or other regulatory authority approval of, or other action with respect to, the Company’s product candidates; and other factors, including legislative, regulatory, political and economic developments not within the Company’s control, including unforeseen circumstances or other disruptions to normal business operations arising from or related to COVID-19. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in the Company’s annual and periodic reports filed with the SEC. The forward-looking statements are made only as of the date of this press release and, except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Media & Investor Relations Contact:
Deanne Randolph
PDS Biotechnology
Phone: +1 (908) 517-3613
Email: drandolph@pdsbiotech.com

Rich Cockrell
CG Capital
Phone: +1 (404) 736-3838 
Email: pdsb@cg.capital

 

PDS BIOTECHNOLOGY
CORPORATION AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

 

March 31, 2021

 

December 31, 2020

ASSETS

(unaudited)

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

25,037,374

 

 

$

28,839,565

 

Prepaid expenses and other

 

2,219,514

 

 

 

1,497,665

 

     Total current assets

 

27,256,888

 

 

 

30,337,230

 

 

 

 

 

 

 

Property and equipment, net

 

3,583

 

 

 

5,443

 

Operating lease right-to-use asset

 

501,194

 

 

 

547,706

 

 

 

 

 

 

 

Total assets

$

27,761,665

 

 

$

30,890,379

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

 

LIABILITIES

 

 

 

 

 

Current liabilities:

 

 

 

 

 

Accounts payable

$

950,598

 

 

$

1,415,224

 

Accrued expenses

 

1,854,795

 

 

 

1,735,322

 

Operating lease obligation-short term

 

123,654

 

 

 

119,904

 

     Total current liabilities

 

2,929,047

 

 

 

3,270,450

 

 

 

 

 

 

 

Noncurrent liability:

 

 

 

 

 

     Operating lease obligation-long term

 

458,291

 

 

 

490,353

 

 

 

 

 

 

 

Total Liabilities:

$

3,387,338

 

 

$

3,760,803

 

     

 

 

 

 

 

 

 

 

 

 

 

STOCKHOLDERS’ EQUITY

 

 

 

 

 

Common stock, $0.00033 par value, 75,000,000 shares authorized at March 31, 2021 and December 31, 2020, 22,278,261 shares and 22,261,619 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively

 

7,346

 

 

 

7,346

 

Additional paid-in capital

 

71,200,684

 

 

 

70,907,315

 

Accumulated deficit

 

(46,833,703

)

 

 

(43,785,085

)

Total stockholders’ equity

 

24,374,327

 

 

 

27,129,576

 

 

 

 

 

 

 

Total liabilities and stockholders’ equity

$

27,761,665

 

 

$

30,890,379

 

 

 

PDS BIOTECHNOLOGY CORPORATION AND SUBSIDIARIES

Condensed Consolidated Statements of Operations and
Comprehensive Loss

(Unaudited)

 

Three Months Ended March 31,

 

2021

 

2020

Operating expenses:

 

 

 

 

 

Research and development expenses

$

1,413,057

 

 

$

1,971,679

 

General and administrative expenses

 

1,636,216

 

 

 

2,060,148

 

 

 

 

 

 

 

Total operating expenses

 

3,049,273

 

 

 

4,031,827

 

 

 

 

 

 

 

Loss from operations

 

(3,049,273

)

 

 

(4,031,827

)

 

 

 

 

 

 

Other income

 

 

 

 

 

Interest income

 

655

 

 

 

46,419

 

 

 

 

 

 

 

Net loss and comprehensive loss

$

(3,048,618

)

 

$

(3,985,408

)

 

 

 

 

 

 

Per share information:

 

 

 

 

 

Net loss per share, basic

$

(0.14

)

 

$

(0.39

)

Net loss per share, diluted

$

(0.14

)

 

$

(0.39

)

 

 

 

 

 

 

Weighted average common shares outstanding, basic

 

22,263,838

 

 

 

10,314,761

 

Weighted average common shares outstanding, diluted

 

22,263,838

 

 

 

10,314,761

 

 

Release – QuoteMedia Announces 22% Revenue Growth for Q1 2021

Posted on by Admin


QuoteMedia Announces 22% Revenue Growth for Q1 2021

PHOENIX, May 13, 2021 (GLOBE NEWSWIRE) — QuoteMedia, Inc. (OTCQB: QMCI), a leading provider of market data and financial applications, announced financial results for the fiscal year ended March 31, 2021.

QuoteMedia provides banks, brokerage firms, private equity firms, financial planners and sophisticated investors with a more economical, higher quality alternative source of stock market data and related research information. We compete with several larger legacy organizations and a modest community of other smaller companies. QuoteMedia provides streaming data feeds, on-demand request-based data (XML/JSON), web content solutions (financial content for website integration) and applications such as Quotestream Professional desktop and mobile.

Highlights for Q1 2021 include the following:

  • Revenue increased to $3,606,218 in Q1 2021 from $2,966,584 in Q1 2020, a year over year increase of 22%.
  • Quarter over quarter revenue increased 10% when comparing Q1 2021 to Q4 2020.
  • Net income for Q1 2021 was $23,087 compared to a loss of $117,325 in Q1 2020.
  • Cash on hand was $815,499 at March 31, 2021; an increase of $397,589 from the $417,910 cash balance reported at December 31, 2020.

“As discussed when releasing our 2020 annual results, we are coming off of a great year for QuoteMedia, and we are pleased to see the momentum carry over into 2021”, said Robert J. Thompson, Chairman of the Board. “Consistent with our previous forecasts, we experienced very strong revenue growth during the quarter. We fully expect to maintain this trajectory throughout the remainder of the year as we continue to increase our market share, develop important relationships with clients and partners, create new innovative product and service offerings, expand our coverage, and explore other opportunities to grow the company.”

QuoteMedia will host a conference call Thursday, May 13, 2021 at 2:00 PM Eastern Time to discuss the Q1 2021 financial results and provide a business update.

Conference Call Details:

Date: May 13, 2021

Time: 2:00 PM Eastern

Dial-in numbers: 877?876?9173, 785?424?1667

Conference ID: 
QUOTEMEDIA

An audio rebroadcast of the call will be available later at: www.quotemedia.com

About
QuoteMedia

QuoteMedia is a leading software developer and cloud-based syndicator of financial market information and streaming financial data solutions to media, corporations, online brokerages, and financial services companies. The Company licenses interactive stock research tools such as streaming real-time quotes, market research, news, charting, option chains, filings, corporate financials, insider reports, market indices, portfolio management systems, and data feeds. QuoteMedia provides industry leading market data solutions and financial services for companies such as the Nasdaq Stock Exchange, TMX Group (TSX Stock Exchange), Canadian Securities Exchange (CSE), London Stock Exchange Group, FIS, U.S. Bank, Broadridge Financial Systems, JPMorgan Chase, CI Financial, Canaccord Genuity Corp., Hilltop Securities, HD Vest, Stockhouse, Zacks Investment Research, General Electric, Boeing, Bombardier, Business Wire, PR Newswire, FolioFN, Regal Securities, ChoiceTrade, Cetera Financial Group, Dynamic Trend, Inc., Qtrade Financial, CNW Group, IA Private Wealth, Ally Invest, Inc., Suncor, Virtual Brokers, Equities.com, Leede Jones Gable, Firstrade Securities, Charles Schwab, First Financial, Cirano, Equisolve, Stock-Trak, Mergent, Cision, Warrior Trading and others. Quotestream®, QMod TM and Quotestream Connect TM are trademarks of QuoteMedia. For more information, please visit www.quotemedia.com.

Statements about QuoteMedia’s future expectations, including future revenue, earnings, and transactions, as well as all other statements in this press release other than historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. QuoteMedia intends that such forward-looking statements be subject to the safe harbors created thereby. These statements involve risks and uncertainties that are identified from time to time in the Company’s SEC reports and filings and are subject to change at any time. QuoteMedia’s actual results and other corporate developments could differ materially from that which has been anticipated in such statements.

Below are the specific forward-looking statements included in this press release:

  • Consistent with our previous forecasts, we experienced very strong revenue growth during the quarter. We fully expect to maintain this trajectory throughout the remainder of the year as we continue to increase our market share, develop important relationships with clients and partners, create new innovative product and service offerings, expand our coverage, and explore other opportunities to grow the company.

QuoteMedia
Investor Relations
Brendan Hopkins
Email: 
investors@quotemedia.com
Call: (407) 645-5295

Note
1 on Non-GAAP Financial Measures

We believe that Adjusted EBITDA, as a non-GAAP pro forma financial measure, provides meaningful information to investors in terms of enhancing their understanding of our operating performance and results, as it allows investors to more easily compare our financial performance on a consistent basis compared to the prior year periods. This non-GAAP financial measure also corresponds with the way we expect investment analysts to evaluate and compare our results. Any non-GAAP pro forma financial measures should be considered only as supplements to, and not as substitutes for or in isolation from, or superior to, our other measures of financial information prepared in accordance with GAAP, such as net income attributable to QuoteMedia, Inc.

We define and calculate Adjusted EBITDA as net income attributable to QuoteMedia, Inc., plus: 1) depreciation and amortization, 2) stock compensation expense, 3) interest expense, 4) foreign exchange loss (or minus a foreign exchange gain), and 5) income tax expense. We disclose Adjusted EBITDA because we believe it is a useful metric by which to compare the performance of our business from period to period. We understand that measures similar to Adjusted EBITDA are broadly used by analysts, rating agencies, investors and financial institutions in assessing our performance. Accordingly, we believe that the presentation of Adjusted EBITDA provides useful information to investors. The table below provides a reconciliation of Adjusted EBITDA to net income attributable to QuoteMedia, Inc., the most directly comparable GAAP financial measure.

QuoteMedia,
Inc. Adjusted EBITDA Reconciliation to Net Income

Three months ended March 31,

2021

2020

Net income (loss)

$

23,087

$

(117,325

)

Depreciation and amortization

347,788

305,757

Stock-based compensation

6,939

11,991

Interest expense

1,008

1,527

Foreign exchange gain

(2,448

)

(11,206

)

Income tax expense

796

744

PPP loan forgiveness

(133,257

)

–

Adjusted EBITDA

$

243,913

$

191,488

 

Release – Kelly Reports First-Quarter 2021 Earnings

Posted on by Admin


Kelly Reports First-Quarter 2021 Earnings

Financial Highlights

  • Q1
    revenue down 4.4%, down 5.5% in constant currency, as pandemic disruption
    moderates
  • Q1
    operating earnings of $10.6 million, compared to a reported loss for the
    corresponding period last year
  • Q1
    earnings per share of $0.64, or $0.12 on an adjusted basis, compared to
    adjusted earnings per share of $0.20 for the corresponding period last year

TROY, Mich., May 13, 2021 (GLOBE NEWSWIRE) — Kelly (Nasdaq: KELYA) (Nasdaq: KELYB), a leading specialty talent solutions provider, today announced results for the first quarter of 2021.

Peter Quigley, president and chief executive officer, announced revenue for the first quarter of 2021 totaled $1.2 billion, a 4.4% decrease, or down 5.5% in constant currency, compared to the corresponding quarter of 2020. Revenue declined year-over-year in the quarter as the effects of the COVID-19 crisis moderated but continued to have an impact on customer demand and the supply of available talent.

Earnings from operations in the first quarter of 2021 totaled $10.6 million, compared to a loss of $111.8 million reported in the first quarter of 2020. The 2020 first-quarter results include a $147.7 million goodwill impairment charge and an $8.7 million restructuring charge, partially offset by a $32.1 million gain on sale of assets. On an adjusted basis, 2020 earnings from operations were $12.5 million.

Diluted earnings per share in the first quarter of 2021 were $0.64 compared to a loss of $3.91 per share in the first quarter of 2020. Included in the earnings per share in the first quarter of 2021 is a non-cash gain, net of tax, on Kelly’s investment in Persol Holdings common stock of $0.52. Included in the loss per share in the first quarter of 2020 is a $3.18 per share goodwill impairment charge, net of tax, a $1.38 per share loss from a non-cash loss on Kelly’s investment in Persol Holdings common stock, net of tax, and a $0.17 restructuring charge, net of tax, partially offset by a $0.61 gain on sale of assets, net of tax. On an adjusted basis, earnings per share were $0.12 in the first quarter of 2021 compared to $0.20 in the corresponding quarter of 2020.

“We’re seeing strong demand across all of our operating segments. This translated into sustained, sequential revenue improvements in our Education, OCG, International, and Science, Engineering & Technology business segments. We’re also seeing improving revenue growth rates in our Professional & Industrial segment and are taking steps to capture even more of the stronger demand, which now exceeds pre-pandemic levels,” said Quigley. “Every segment added numerous wins to their portfolio in the first quarter, and we’re pleased with the overall progress and healthy sales pipelines across our specialties. We’re moving forward in this recovery with optimism, well-positioned to capture organic specialty growth and committed to a bold M&A strategy that captures inorganic growth, as evidenced by our recent Softworld acquisition, which is the largest deal in Kelly’s history.”

In conjunction with its first quarter earnings release, Kelly has published a financial presentation on the Investor Relations page of its public website and will host a conference call at 9 a.m. ET on May 13 to review the results and answer questions. The call may be accessed in one of the following ways:

Via the Internet:
Kellyservices.com

Via the Telephone
(877) 692-8955 (toll free) or (234) 720-6979 (caller paid)
Enter access code 5728672
After the prompt, please enter “#”
A recording of the conference call will be available after 2:30 p.m. ET on May 13, 2021 at (866) 207-1041 (toll-free) and (402) 970-0847 (caller-paid). The access code is 2456495#. The recording will also be available at kellyservices.com during this period.

This release contains statements that are forward looking in nature and, accordingly, are subject to risks and uncertainties. These factors include, but are not limited to, changing market and economic conditions, the recent novel coronavirus (COVID-19) outbreak, competitive market pressures including pricing and technology introductions and disruptions, disruption in the labor market and weakened demand for human capital resulting from technological advances, competition law risks, the impact of changes in laws and regulations (including federal, state and international tax laws), unexpected changes in claim trends on workers’ compensation, unemployment, disability and medical benefit plans, or the risk of additional tax liabilities in excess of our estimates, our ability to achieve our business strategy, our ability to successfully develop new service offerings, material changes in demand from or loss of large corporate customers as well as changes in their buying practices, risks particular to doing business with government or government contractors, the risk of damage to our brand, our exposure to risks associated with services outside traditional staffing, including business process outsourcing, services of licensed professionals and services connecting talent to independent work, our increasing dependency on third parties for the execution of critical functions, our ability to effectively implement and manage our information technology strategy, the risks associated with past and future acquisitions, including risk of related impairment of goodwill and intangible assets, exposure to risks associated with investments in equity affiliates including PersolKelly Pte. Ltd., risks associated with conducting business in foreign countries, including foreign currency fluctuations, the exposure to potential market and currency exchange risks relating to our investment in Persol Holdings, risks associated with violations of anti-corruption, trade protection and other laws and regulations, availability of qualified full-time employees, availability of temporary workers with appropriate skills required by customers, liabilities for employment-related claims and losses, including class action lawsuits and collective actions, our ability to sustain critical business applications through our key data centers, risks arising from failure to preserve the privacy of information entrusted to us or to meet our obligations under global privacy laws, the risk of cyberattacks or other breaches of network or information technology security, our ability to realize value from our tax credit and net operating loss carryforwards, our ability to maintain specified financial covenants in our bank facilities to continue to access credit markets, and other risks, uncertainties and factors discussed in this release and in the Company’s filings with the Securities and Exchange Commission. Actual results may differ materially from any forward-looking statements contained herein, and we undertake no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company’s expectations.

About Kelly®

Kelly Services, Inc. (Nasdaq: KELYA, KELYB) connects talented people to companies in need of their skills in areas including Science, Engineering, Education, Office, Contact Center, Light Industrial, and more. We’re always thinking about what’s next in the evolving world of work, and we help people ditch the script on old ways of thinking and embrace the value of all workstyles in the workplace. We directly employ nearly 370,000 people around the world, and we connect thousands more with work through our global network of talent suppliers and partners in our 
outsourcing and consulting practice. Revenue in 2020 was $4.5 billion. Visit kellyservices.com and let us help with what’s next for you.

MEDIA CONTACT:

 

 

ANALYST CONTACT:

Jane Stehney

 

 

James Polehna

(248) 574-9800

 

 

(248) 244-4586

stehnja@kellyservices.com 

 

 

james.polehna@kellyservices.com 

Release – Comtech Telecommunications Corp. Awarded $3.0 Million QV-Band TWTA Contract for High Frequency Satcom Amplifiers

Posted on by Admin


Comtech Telecommunications Corp. Awarded $3.0 Million QV-Band TWTA Contract for High Frequency Satcom Amplifiers

The Solution Will Support a New High-Speed Satellite Network

MELVILLE, N.Y.
–(BUSINESS WIRE)–May 13, 2021– 
May 13, 2021— 
Comtech Telecommunications Corp. (NASDAQ: CMTL), a world leader in secure wireless communications technologies, announced today, that during its third quarter of fiscal 2021, its 
Santa Clara, California-based subsidiary, 
Comtech Xicom Technology, Inc., a world leader in high-power amplifiers, was awarded a contract valued at more than 
$3.0 million
 for QV-band traveling wave tube amplifiers (“TWTAs”) to support a new high-speed satellite network.

“We believe we are the market leader in deployed QV-band TWTAs, and this order further extends our market lead for this new frequency band, which delivers 4 GHz of bandwidth for High Throughput Satellite (“HTS”) applications,” said  Fred Kornberg , Chairman of the Board and Chief Executive Officer of 
Comtech Telecommunications Corp. “QV-band is the next frontier for satcom frequency bands because it enables new products and services at a lower cost per bit. Our strong technical leadership position fuels our optimism for future growth opportunities.”

Comtech Xicom Technology, Inc., a world leader in high-power amplifiers, manufactures a wide variety of tube-based and solid-state power amplifiers for military and commercial satellite uplink applications. The product range encompasses power levels from 8 W to 3 kW, with frequency coverage in sub-bands within the 2 GHz to 52 GHz spectrum. Amplifiers are available for fixed and ground-based, shipboard and airborne mobile applications. Please visit www.xicomtech.com for more information.

Comtech Telecommunications Corp. is a leader in the global communications market headquartered in 
Melville, New York. With a passion for customer success, 
Comtech designs, produces and markets advanced secure wireless solutions to more than 1,000 customers in more than 100 countries. For more information, please visit www.comtechtel.com.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s 
Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such 
Securities and Exchange Commission filings.

PCMTL

Product Media Contact: Eric Schmidt, Vice President, Sales

Comtech Xicom Technology, Inc.
408-391-6534
eric.schmidt@xicomtech.com

Corporate Contact: Michael D. Porcelain, President and Chief Operating Officer
Comtech Telecommunications Corp.
631-962-7000
info@comtechtel.com

Source: 
Comtech Telecommunications Corp.

Release – Great Lakes Dredge & Dock Corporation Announces Pricing of Senior Notes

Posted on by Admin


Great Lakes Dredge & Dock Corporation Announces Pricing of Senior Notes

HIGHER-INTEREST SENIOR NOTES TO BE REDEEMED WITH NET PROCEEDS

HOUSTON, May 12, 2021 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) (“Great Lakes” or the “Company”) announced today that it has agreed to sell $325 million aggregate principal amount of its unsecured 5.25% Senior Notes due 2029 (the “2029 Notes”) pursuant to its previously-announced private offering.

The 2029 Notes were priced to investors at par and will mature on June 1, 2029. Each of the Company’s existing and future wholly-owned domestic subsidiaries that are co-borrowers or guarantors under its senior secured revolving credit agreement will guarantee the 2029 Notes.

Great Lakes intends to use the net proceeds from the offering, together with cash on hand, to redeem all $325 million aggregate principal amount of its outstanding 8.000% Senior Notes due 2022. The offering is expected to be completed on May 25, 2021, subject to the satisfaction or waiver of customary closing conditions.

The 2029 Notes will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws in the United States and may not be offered or sold in the United States absent registration or an exemption from the applicable registration requirements. Accordingly, the 2029 Notes are being offered and sold only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A promulgated under the Securities Act and to non-U.S. persons outside the United States in accordance with Regulation S promulgated under the Securities Act. Holders of the 2029 Notes will not have registration rights.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, the 2029 Notes, nor will there be any sale of the 2029 Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful. This press release does not constitute a notice of redemption with respect to any of the Company’s outstanding senior notes.

The
Company

Great Lakes is the largest provider of dredging services in the United States. In addition, the Company has a long history of performing significant international projects. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production and project management functions. In its over 130-year history, the Company has never failed to complete a marine project. Great Lakes owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprised of over 200 specialized vessels. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. The Company’s Incident & Injury Free® (IIF®) safety management program is integrated into all aspects of the Company’s culture. The Company’s commitment to the IIF® culture promotes a work environment where employee safety is paramount.

Cautionary
Note Regarding Forward-Looking Statements

Except for historical and factual information, the matters set forth in this release and other of our oral or written statements identified by words such as “intends,” “plans,” “expects,” “anticipates,” “believes” and “will” and similar expressions are forward-looking statements within the meaning of the federal securities laws. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Great Lakes and its subsidiaries, or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. These cautionary statements are being made with the intention of obtaining the benefits of the “safe harbor” provisions of the federal securities laws. Great Lakes cautions investors that any forward-looking statements made by Great Lakes are not guarantees or indicative of future performance. Important assumptions and other important factors that could cause actual results to differ materially from those forward-looking statements with respect to Great Lakes, include, but are not limited to: our failure to satisfy the conditions to the initial purchasers’ obligation to consummate the offering; corporate developments that could preclude, impair or delay the above-described transactions due to restrictions under the federal securities laws; changes in the Company’s credit ratings; changes in the cash requirements, financial position, financing plans or investment plans of the Company or its affiliates; changes in general market, economic, tax, regulatory or industry conditions that impact the ability or willingness of the Company or its affiliates to consummate the above-described transactions on the terms described above or at all; and other risks referenced from time to time in the filings of the Company with the SEC.

Although Great Lakes believes that its plans, intentions and expectations reflected in or suggested by such forward-looking statements are reasonable, actual results could differ materially from a projection or assumption in any forward-looking statements. Great Lakes’ future financial condition and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties. The forward-looking statements contained in this press release are made only as of the date hereof and Great Lakes does not have or undertake any obligation to publicly update or revise any forward-looking statements whether as a result of new information, subsequent events or otherwise, unless otherwise required by law.

For
further information contact:
Tina
Baginskis
Director,
Investor Relations
630-574-3024

 

Release – CoreCivic’s Third Annual ESG Report Shows Steadfast Commitment to Reducing Recidivism, Focus on Keeping People Safe and Front Line Resiliency Amid Pandemic

Posted on by Admin


CoreCivic’s Third Annual ESG Report Shows Steadfast Commitment to Reducing Recidivism, Focus on Keeping People Safe and Front Line Resiliency Amid Pandemic

BRENTWOOD, Tenn., May 12, 2021 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (the Company) today released its 2020 Environmental, Social and Governance (ESG) Report detailing its steadfast response to the challenges of the COVID-19 pandemic. This is the third annual report issued by the Company since 2019.

The report illustrates how the company worked to keep people safe while finding innovative ways to carry out life changing programming that equips individuals to succeed after incarceration. It shows the resiliency of front line professionals who worked tirelessly to protect human life while adapting to safe alternatives to in-person reentry programming. It also highlights the Company’s progress in protecting the environment and promoting excellence in its corporate governance.

“Like any enterprise worth its salt, we change to get better,” said Damon Hininger, president and chief executive officer. “We believe in constantly striving to be a better company and to find ways to make the most difference for the people we care for and our country as a whole. I could not be more proud of our team of prepared, energetic and always-eager-to-improve reentry professionals who introduced safe and socially-distanced alternative programming while conforming to evidence-based best practices.”

The 40-page document’s release marks two years since the Company broke ground with the industry’s first ESG report. Previous reports documented substantial progress toward CoreCivic’s first-ever industry initiative to set and achieve five-year reentry goals, an effort that was completed in 2019. The 2020 report defines the Company’s continued commitment to evidence-based practices for reentry, informing future goals and enabling individualized interventions based on a person’s specific needs and their risk of future involvement in the justice system.

While CoreCivic was forced to temporarily suspend some in-person reentry services in 2020 due to COVID-19, limiting its ability to deliver programming at the level it normally would, the Company laid the groundwork for a new, more illuminating approach to reentry. The new approach will continue to set goals for program delivery, which will be disclosed in future reports. However, it will also measure and track performance tied to effective outcomes for individuals in the reentry process, rather than using program completion rates alone.

The report also outlines the Company’s pandemic response, illustrating how CoreCivic’s long-standing infectious disease management plans were adapted to the unique needs of the COVID-19 pandemic. The Company’s Emergency Operations Center (EOC) was activated early in the pandemic and continues to operate 24/7 with state-of-the-art software to track and monitor developments in real time. A special Coronavirus Response Committee (CRC) was also assembled, including the Company’s chief medical officer, to manage response efforts and ensure alignment with Centers for Disease Control and Prevention (CDC) guidance. The Company also continually evaluated and adapted supply chains to ensure adequate supply of personal protective equipment (PPE) companywide.

“While any loss of human life carries incalculable costs that millions of families around the world have felt during this crisis, I am grateful for the collective efforts of our facility leaders and staff who worked tirelessly to protect lives over the past year,” Hininger said. “From nurses and correctional officers to supply chain analysts, we put the right people in the right places, and their efforts were nothing short of heroic.”

The report cites findings by the U.S. Department of Justice’s Office of Inspector General (OIG) that contractor-operated U.S. Marshals Service facilities like those operated by CoreCivic were safer, more accountable and more responsive in mitigating risk from COVID-19 than publicly operated facilities.

Other topics covered in the report include:

  • Development of 2021 human rights goals, which include implementation of a new human rights policy, facility-level risk assessments and delivery of training to more than 95% of employees
  • Work to accelerate diversity, equity and inclusion (DEI) efforts, including the establishment of a DEI Council and Board-level DEI Committee, conscious inclusion training for leaders, and a comprehensive culture survey to gauge areas for improvement
  • Environmental sustainability practices and goals, including smart water controls, LED retrofit projects and green design and operations techniques to reduce the Company’s carbon footprint
  • Community support efforts, through which CoreCivic contributed more than $2.7 million to organizations working with formerly incarcerated people, victims of crime, underserved youth and those impacted by the pandemic
  • Policy advocacy for state and federal legislation that removes barriers to reentry for justice-involved individuals and reduces recidivism. The Company successfully advocated for, among other measures, restoring Pell Grants, voting rights and expungement opportunities for formerly incarcerated people
  • Advocating for the Federal Communications Commission (FCC) to have states cap intrastate Inmate Telephone Services rates to better enable families to stay in contact with incarcerated loved ones

About CoreCivic

CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. CoreCivic provides a broad range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions. CoreCivic is the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believes it is the largest private owner of real estate used by government agencies in the U.S. CoreCivic has been a flexible and dependable partner for government for more than 35 years. CoreCivic’s employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good.

Contact:

Investors: Cameron Hopewell – Managing Director, Investor Relations – (615) 263-3024
Media: Steve Owen – Vice President, Communications – (615) 263-3107