Energy Services of America (ESOA) – PPP Loan Forgiveness Announced

Posted on June 18, 2021 by Admin

Friday, June 18, 2021

Energy Services of America (ESOA)
PPP Loan Forgiveness Announced

Energy Services of America Corporation is engaged in providing contracting services for energy-related companies. The company is primarily engaged in the construction, replacement, and repair of natural gas pipelines and storage facilities for utility companies and private natural gas companies. It services the gas, petroleum, power, chemical and automotive industries, and does incidental work such as water and sewer projects. Energy Service’s other services include liquid pipeline construction, pump station construction, production facility construction, water and sewer pipeline installations, various maintenance and repair services and other services related to pipeline construction.

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

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

PPP Loan of $9.8 million officially forgiven. In an 8-K filing after the market closed yesterday, the company disclosed that the Small Business Administration (SBA) had paid $9.8 million to its lender on June 16th. The SBA payment satisfies the requirements of the Payroll Protection Program (PPP) loan taken out in FY2020 and the PPP loan of $9.8 million has been fully forgiven. Importantly, the PPP loan helped maintain employment and dampen any potential financial impact during a very uncertain time.

No impact on FY2021 EBITDA estimate. The forgiven PPP loan is expected to be recognized as other income and there should be no tax implications. While final accounting treatment has yet to be determined and the cash impact was a FY2020 event, we believe that net income and shareholder equity should be positively impacted by $9.8 million. We are updating our financial forecasts, but will adjust them …

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) – Stock offering reflects new aggressive stance

Posted on June 18, 2021 by Admin

Friday, June 18, 2021

Capstone Green Energy Corporation (CGRN)
Stock offering reflects new aggressive stance

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.

CGRN entered into a underwriting agreement to sell 952,380 shares of common stock at $5.25 per share. The offering less discounts and commissions should increase Capstone’s cash position by $5 million, $5.7 million if the overallotment is exercised. The proceeds will be used for working capital, general corporate purposes and growth initiatives.

A much-strengthened balance sheet becomes even stronger. CGRN recently reported fourth quarter and fiscal 2021 financial results. Results were generally in line, but we did note that the company’s cash position had significantly improved to $50 million from $15 million. CGRN’s debt position, which increased with a debt restructuring that lowered interest rates, rose a more modest amount to $53 …

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

Capstone Increases Previously Announced Bought Deal Offering Of Common Stock To $10.0 Million

Posted on June 18, 2021 by Admin

Capstone Increases Previously Announced Bought Deal Offering Of Common Stock To $10.0 Million

VAN NUYS, CA / ACCESSWIRE / June 17, 2021 / Capstone Green Energy Corporation (NASDAQ:CGRN) (“Capstone”, or the “Company”), a global leader in carbon reduction and on-site resilient green energy solutions, today announced that, due to demand, the Company and the underwriter have decided to increase the size of the previously announced public offering, and accordingly the underwriter has agreed to purchase on a firm commitment basis 1,904,763 shares of common stock of the Company at a price to the public of $5.25 per share, less underwriting discounts and commissions. The closing of the offering is expected to occur on or about June 22, 2021, subject to satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.

The Company has also granted to the underwriter a 30-day option to purchase up to an additional 285,714 shares of common stock at the public offering price, less underwriting discounts and commissions.

The gross proceeds of the offering are expected to be approximately $10,000,000, before deducting underwriting discounts and commissions and offering expenses payable by Capstone and assuming no exercise of the option to purchase additional shares of common stock. Capstone intends to use the net proceeds from the offering for working capital, general corporate purposes and growth initiatives, including organic growth and potential future acquisitions. However, the Company has no present arrangements, agreements or understanding in principle of any such acquisitions.

A shelf registration statement on Form S-3 (File No. 333-254547) relating to the shares of common stock being offered was filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 22, 2021, and became effective on April 14, 2021. The offering will be made only by means of a prospectus supplement and accompanying prospectus that form a part of the shelf registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC and are available on the SEC’s website, located at www.sec.gov. Electronic copies of the final prospectus supplement and accompanying prospectus relating to the offering when filed with the SEC, may also be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, NY 10022, by email at placements@hcwco.com or by phone at (212) 856-5711. Before you invest, you should read the preliminary prospectus supplement and accompanying prospectus and the other documents that Capstone has filed with the SEC for more complete information about Capstone and the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Capstone:
Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems. To date, Capstone has shipped over 10,000 units to 83 countries and in FY21, and estimates it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

Forward-Looking Statements:
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the completion of the public offering and use of proceeds of the public offering as well as expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: market and other conditions, the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the SEC, including the disclosures under “Risk Factors” in those filings and in the Company’s preliminary prospectus supplement and accompanying prospectus related to the public offering and any other filings with the SEC. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason, except as required by law.

Contact:
Investor and investment media inquiries:
Capstone Green Energy
(818)-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy Corporation

Release – FAT Brands Inc. Announces Pricing of Public Offering of Series B Cumulative Preferred Stock

Posted on June 18, 2021 by Admin

FAT Brands Inc. Announces Pricing of Public Offering of Series B Cumulative Preferred Stock

Beverly Hills, CA, June 17, 2021 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT, FATBP, FATBW), a leading global franchising company and parent company of iconic brands including Fatburger, Johnny Rockets, and seven other restaurant concepts, today announced the pricing of an underwritten public offering of 400,000 shares of 8.25% Series B Cumulative Preferred Stock at a price to the public of $20.00 per share.

The gross proceeds to the Company are expected to be $8,000,000 prior to deducting underwriting discounts and estimated offering expenses. The Company has also granted to the underwriters a 45-day option to acquire an additional 60,000 shares of 8.25% Series B Cumulative Preferred Stock to cover over-allotments, if any.

The offering is expected to close on June 22, 2021, subject to customary closing conditions.

FAT Brands Inc. intends to use the net proceeds of the offering for general corporate purposes and possible future acquisitions and growth opportunities.

ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book-running manager for the offering. Digital Offering, LLC is acting as financial advisor for the offering.

This offering is being made pursuant to a registration statement on Form S-1 (No. 333- 256344), as amended, previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and subsequently declared effective on June 17, 2021. A preliminary prospectus describing the terms of the proposed offering has been filed with the SEC and is available on the SEC’s website located at http://www.sec.gov. A final prospectus related to the proposed offering will be filed and made available on the SEC’s website. Electronic copies of the final prospectus may be obtained, when available, from ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, Telephone: (877) 436-3673, Email: prospectus@think-equity.com.

The press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About FAT (Fresh. Authentic. Tasty.) Brands
FAT Brands Inc. (NASDAQ: FAT, FATBP, FATBW) (the Company) is a leading global franchising company that strategically acquires, markets and develops fast casual and casual dining restaurant concepts around the world. The Company currently owns nine restaurant brands: Fatburger, Johnny Rockets, Buffalo’s Cafe, Buffalo’s Express, Hurricane Grill & Wings, Elevation Burger, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises approximately 700 units worldwide. For more information, please visit www.fatbrands.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to significant business, economic and competitive risks, uncertainties and contingencies including, but not limited to, uncertainties surrounding the severity, duration and effects of the COVID-19 pandemic, many of which are difficult to predict and beyond our control, which could cause our actual results to differ materially from the results expressed or implied in such forward-looking statements. We refer you to the documents we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other risks, uncertainties and contingencies. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

Investor Relations:
ICR
Lynne Collier
IR-FATBrands@icrinc.com
646-430-2216

Media Relations:
JConnelly
Erin Mandzik
emandzik@jconnelly.com
862-246-9911

Source: FAT Brands Inc.

Palladium One Mining Inc. (NKORF)(PDM:CA) – Still in the Shadow of LK?

Posted on June 18, 2021 by Admin

Friday, June 18, 2021

Palladium One Mining Inc. (NKORF)(PDM:CA)
Still in the Shadow of LK?

Palladium One Mining Inc is a palladium dominant, PGE, nickel, copper exploration and development company. Its assets consist of the Lantinen Koillismaa and Kostonjarvi PGE-Cu-Ni projects, located in north-central Finland and the Tyko Ni-Cu-PGE and Disraeli PGE-Ni-Cu properties in Ontario, Canada. LK is targeting disseminated sulphide along 38 kilometers of favorable basal contact. The KS project is targeting massive sulphide within a 20,000-hectare land package covering a regional scale gravity and magnetic geophysical anomaly. Tyko is a 13,000-hectare project targeting disseminated and massive sulphide in a highly metamorphosed Archean terrain. Disraeli is a 2,500-hectare project targeting PGE-rich disseminated and massive sulphide in a highly productive Proterozoic mid-continent rift.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

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

Initial results from the Phase II Tyko drill program. A total of 14 holes representing 1,370 meters of drilling were completed, of which 11 intersected massive and/or semi-massive sulphide mineralization at the Smoke Lake Zone. The company has reported results for 6 of the 14 holes completed. Included were results for Hole TK21-034 which returned 9.5% nickel equivalent over 1.7 meters, within 6.0% nickel equivalent over 5.0 meters, from 66 meters down hole. Hole TK21-029 returned 9.0% nickel equivalent over 0.9 meters, within 7.8% nickel equivalent over 3.1 meters, from 31 meters down hole. Drilling results at Tyko have revealed high-grade nickel intercepts and significant exploration potential.

Increasing the strike length to 350 meters. Recall that ground-based and borehole EM surveys outlined two significant conductors at Smoke Lake. An important outcome of the Phase II drill program was the strike length extension to 350-meters combined with linking high-grade massive sulphide mineralization between the upper conductor and lower conductor which returned 6.0% nickel equivalent over 5.0 …

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

Gray Television Forms New Sports and Entertainment Revenue Group

Posted on June 18, 2021 by Admin

Gray Television Forms New Sports and Entertainment Revenue Group

ATLANTA, June 18, 2021 (GLOBE NEWSWIRE) — Gray Television, Inc. (“Gray”) (NYSE: GTN) has formed a new sales and sponsorship entity called Gray Sports + Entertainment Sales to represent the company’s internal content production portfolio to brands and advertising agencies. The new group is responsible for revenue generation of Gray-owned media and sponsorship assets.

In addition to owning the largest portfolio of top-rated local television stations and digital assets in the country, Gray owns Raycom Sports, Tupelo Honey, and RTM Studios. These three video production companies collectively produce hundreds of hours of sports and entertainment programming each year through live events, original content, and branded entertainment for all types of platforms. Some of these properties include:

World Chase Tag, an emerging cultural phenomenon that combines the athleticism of parkour with the age-old game of tag.
The ACC Digital Network, the official home for all the best ACC digital, video and social content
Origin Sports, bringing fans the biggest names in sports before they were stars.
PowerNation, America’s most-watched automotive how-to programming.
Full Court Press, hosted by Greta Van Susteren, a weekly program shining a light on the local impact of national politics.
The Song, a multi-genre music and entertainment series that shares the incredible stories behind the biggest songs ever written and recorded.

Gray Sports + Entertainment Sales is led by Bill Lancaster, currently Vice President of Sales for both Raycom Sports and RTM Studios. Lancaster will be responsible for the group’s strategy and execution. Before joining Gray in 2016, Lancaster spent 20 years with Gannett/TEGNA in a variety of leadership roles.

Joel Lewin joins the group as Senior Director of Revenue Development. Lewin brings more than 30 years of sales and marketing experience. He joins Gray from Warner Bros. Television, where he served most recently as Vice President-Media Sales since 2001 and as Vice President, Station Sales prior to that.

“One of the great strengths of Gray Television is the passionate communities we represent through the broad array of content we produce and distribute across many different platforms” said Pat LaPlatney, President and Co-CEO of Gray Television. “This initiative showcases our unique programming to marketers through high-impact sponsorships and will help us serve our customers more effectively.”

Gray previously announced agreements to acquire Quincy Media and Meredith Corporation. Following the anticipated closings of these transactions later this year, Gray will become the nation’s second largest television broadcaster. At that time, Gray’s portfolio of television stations will serve 113 local markets reaching approximately 36 percent of US television households.

About Gray Television

Gray Television, headquartered in Atlanta, Georgia, is the largest owner of top-rated local television stations and digital assets in the United States. Upon the closing of its acquisition of Quincy Media, Inc., Gray will own television stations serving 102 television markets that collectively reach 25.4 percent of US television households, including the number-one ranked television station in 77 markets and the first and/or second highest ranked television station in 93 markets according to Comscore’s average all-day ratings for calendar year 2020. Gray also owns video program production, marketing, and digital businesses including Raycom Sports, Tupelo Honey, and RTM Studios, the producer of PowerNation programs and content and is the majority owner of Swirl Films.

Onconova Therapeutics Inc. (ONTX) – New Publication Describes Rigosertib’s Mechanism For Improving Checkpoint Inhibitor Responses

Posted on June 18, 2021 by Admin

Friday, June 18, 2021

Onconova Therapeutics Inc. (ONTX)
New Publication Describes Rigosertib’s Mechanism For Improving Checkpoint Inhibitor Responses

Onconova Therapeutics Inc is a clinical-stage biopharmaceutical company operating in the US. It focuses on discovering and developing novel small molecule product candidates primarily to treat cancer. The company has created a library of targeted agents designed to work against cellular pathways important to cancer cells. Its product candidates are Single-agent IV rigosertib, Oral rigosertib + azacitidine, IV Briciclib, Recilisib, and ON 123300. The key product candidate Rigosertib is a small molecule which blocks cellular signaling by targeting RAS effector pathways.

Robert LeBoyer, Senior Research Analyst, Noble Capital Markets, Inc.

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

New Rigosertib Study Shows Mechanism Of Action A study published in the medical journal Molecular Cancer detailed how rigosertib’s action through the RAS pathway could improve the response to checkpoint inhibitors. Rigosertib is currently in a Phase 1 clinical trial in combination with the PD-1 inhibitor Opdivo (nivolumab) to improve response rates in lung cancer.

Turning “Cold” Tumors “Hot” Drugs in the checkpoint inhibitor category block the mechanism that allows cancer cells to avoid recognition by the immune system. Response rates for checkpoint inhibitors vary from about 10% to 40% depending on the tumor. The new publication supports observations in prior rigosertib trials by demonstrating increases in immune cell populations and responses …

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

FAT Brands Inc. Announces Pricing of Public Offering of Series B Cumulative Preferred Stock

Posted on June 18, 2021 by Admin

FAT Brands Inc. Announces Pricing of Public Offering of Series B Cumulative Preferred Stock

The offering is expected to close on June 22, 2021, subject to customary closing conditions.

FAT Brands Inc. intends to use the net proceeds of the offering for general corporate purposes and possible future acquisitions and growth opportunities.

ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book-running manager for the offering. Digital Offering, LLC is acting as financial advisor for the offering.

Investor Relations:
ICR
Lynne Collier
IR-FATBrands@icrinc.com
646-430-2216

Media Relations:
JConnelly
Erin Mandzik
emandzik@jconnelly.com
862-246-9911

Source: FAT Brands Inc.

Recycling Li-Ion Batteries Through Bioleaching

Posted on June 18, 2021 by Admin

Bacteria Can Recover Precious Metals from Electric Vehicle Batteries – Here’s How

There are more than 1.4 billion cars in the world today, and that number could double by 2036. If all those cars burn petroleum, the climate consequences will be dire. Electric cars emit fewer air pollutants and if they’re powered by renewable energy, driving one wouldn’t add to the greenhouse gases warming Earth’s atmosphere.

But producing so many electric vehicles (EVs) in a decade would cause a surge in demand for metals like lithium, cobalt, nickel and manganese. These metals are essential for making EV batteries, but they’re not found everywhere. Most of the world’s lithium lies under the Atacama Desert in South America, where mining threatens local people and ecosystems.

Leading manufacturers of EVs need to keep import costs low and find a reliable source of these raw materials. Mining the deep sea is one option, but it could also damage habitats and endanger wildlife. At the same time, waste electronics filled with precious metals are piling up in landfills and in some of the world’s poorest regions – with 2.5 million tonnes added to the total each year.

EV batteries themselves only have a shelf life of eight to ten years. Lithium-ion batteries are currently recycled at a meager rate of less than 5% in the EU. Instead of mining new sources of these metals, why not reuse what’s already out there?

The Recycling Economy

The largest lithium-ion battery recyclers are based in China. While recycling is often treated as an obligation that companies should be paid to do in North America and Europe, competition is so intense for dead batteries in China that recyclers are willing to pay to get their hands on them.

Most of the batteries that do get recycled are melted and their metals extracted. This is often done in large commercial facilities which use lots of energy and so emit lots of carbon. These plants are expensive to build and operate and require sophisticated equipment to treat the harmful emissions generated by the smelting process. Despite the high costs, these plants rarely recover all valuable battery materials.

The value of the global market for metal recycling is expected to grow from US$52 billion (£37 billion) in 2020 to US$76 billion by 2025. Without less energy-intensive recycling methods, this emerging industry will only exacerbate environmental problems. But there is a natural process for extracting precious metals from waste that’s been used for decades.

Bugs for Batteries

Bioleaching, also called biomining, employs microbes that can oxidize metal as part of their metabolism. It has been widely used in the mining industry, where microorganisms are used to extract valuable metals from ores. More recently, this technique has been used to clean up and recover materials from electronic waste, particularly the printed circuit boards of computers, solar panels, contaminated water, and even uranium dumps.

My colleagues and I in the Bioleaching Research Group at Coventry University have found that all metals present in EV batteries can be recovered using bioleaching. Bacteria like Acidithiobacillus ferrooxidans and other non-toxic species target and recover the metals individually without the need for high temperatures or toxic chemicals. These purified metals constitute chemical elements, and so can be recycled indefinitely into multiple supply chains.

Scaling up bioleaching involves growing bacteria in incubators at 37°C, often using carbon dioxide. Not a lot of energy is needed, so the process has a much smaller carbon footprint than typical recycling plants while also contributing less pollution. While reducing EV battery waste, bioleaching facilities mean manufacturers can recover these precious metals locally and rely less on the few producer countries.

Academics working on bioleaching stop once they’ve removed all the precious metals from the electronic waste and they’re floating in solution. This is not enough for the industry. We combine bioleaching with electro-chemical methods that can fish out these metals and make them useful for supply chains. Unfortunately, existing methods in metal recycling which involve lots of energy and toxic chemicals have been used for decades. Industries can’t always afford to innovate, so it’s up to the government to mandate changes and invest in cleaner alternatives.

EV batteries are a technology still in their infancy. The reuse of their components should be considered as part of their design. Rather than remaining an afterthought, recycling can become both the beginning and end of an EV battery’s life cycle with bioleaching, producing high-quality raw materials for new batteries at low environmental cost.

This article was republished with permission from The
Conversation, a news site dedicated to sharing ideas from academic
experts. It was written by and represents the research-based opinions of Sebastien Farnaud Professor
of Bio-innovation and Enterprise, Coventry University

PDS Biotechnology Corporation Announces Closing of Approximately $52 Million Public Offering

Posted on June 18, 2021 by Admin

PDS Biotechnology Corporation Announces Closing of Approximately $52 Million Public Offering and Full Exercise of Underwriter’s Option to Purchase Additional Shares

FLORHAM PARK, N.J., June 17, 2021 (GLOBE NEWSWIRE) — PDS Biotechnology Corporation (Nasdaq: PDSB) (“PDS Biotechnology” or the “Company”), a clinical-stage immunotherapy company developing a pipeline of novel cancer therapies based on the Company’s proprietary Versamune^® T-cell activating technology, today announced the closing of its previously announced underwritten public offering of 6,088,235 shares of common stock (inclusive of the 794,117 shares that were sold pursuant to the underwriter’s full exercise of its option to purchase additional shares of common stock) at a public offering price of $8.50 per share. Certain insiders, including certain members of the Company’s board of directors and executive officers, purchased shares of PDS Biotech common stock in the offering.

The gross proceeds to PDS Biotech from this offering, before deducting underwriting discounts, commissions and other offering expenses were approximately $51.7 million.

Cantor Fitzgerald & Co. acted as the sole book-running manager for the offering.

The shares of common stock described above were offered by the Company pursuant to a registration statement on Form S-3 (File No. 333-240011) previously filed with the U.S. Securities and Exchange Commission (“SEC”) on July 22, 2020 and declared effective on July 31, 2020, and the accompanying prospectus contained therein. The offering of the shares of common stock was made by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement related to the offering has been filed with the SEC and is available on the SEC’s website, located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may also be obtained by contacting Cantor Fitzgerald & Co., 499 Park Avenue, 4th Floor, New York, NY 10022, Attn: Capital Markets Department, or by email at prospectus@cantor.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About PDS Biotechnology

PDS Biotech is a clinical-stage immunotherapy company developing a growing pipeline of novel cancer therapies 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. The company’s pipeline products address various cancers including breast, colon, lung, prostate and ovarian cancers. To learn more, please visit www.pdsbiotech.com or follow us on Twitter at @PDSBiotech.

About PDS0101

PDS Biotech’s lead candidate, PDS0101, combines the utility of the Versamune^® platform with targeted antigens in HPV-expressing cancers. In partnership with Merck & Co., PDS Biotech is evaluating a combination of PDS0101 and KEYTRUDA^® in a Phase 2 study in first-line treatment of recurrent or metastatic head and neck cancer. PDS Biotech is also conducting two additional Phase 2 studies in advanced HPV-associated cancers and advanced localized cervical cancer with the National Cancer Institute (NCI) and The University of Texas MD Anderson Cancer Center, respectively.

About PDS0102

PDS0102 combines the utility of the Versamune^® platform with the proprietary T-cell receptor gamma alternate reading frame protein (TARP), a tumor antigen identified by the National Cancer Institute (NCI) which is strongly associated with prostate cancer, breast cancer and AML. The product is in late-stage clinical development and anticipated to enter human clinical trials in 2022.

About PDS0103

PDS0103 combines the utility of the Versamune^® platform with novel and proprietary highly immunogenic agonist epitopes of mucin-1 (MUC1) oncogenic C-terminal region. MUC1 is highly expressed in multiple tumor types and has been shown to be associated with drug resistance and poor disease prognosis. The product is in late-stage clinical development as part of a collaborative research and development agreement with the National Cancer Institute and anticipated to enter human clinical trials in 2022.

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; any Company statements about its understanding of product candidates mechanisms of action and interpretation of preclinical and early clinical results from its clinical development programs and any collaboration studies; 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 Biotech
Phone: +1 (908) 517-3613
Email: drandolph@pdsbiotech.com

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

Esports Entertainment Group Launches InVIE Esports Tournament Series with Dota 2 Season 1 in South America

Posted on June 18, 2021 by Admin

Esports Entertainment Group Launches InVIE Esports Tournament Series with Dota 2 Season 1 in South America

15-team CS:GO InVIE tournament planned for early July

InVIE series provides key brand positioning and activation for VIE.bet platform

Newark, New Jersey–(Newsfile Corp. – June 18, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”), an esports entertainment and online gambling company, is pleased to announce the launch of its InVIE esports tournament series.

The debut event, InVIE Dota 2 Season 1, kicks off this weekend, June 19-21, in South America. Four of the top South American Dota 2 teams will compete in this inaugural event which will be streamed live in five languages. With Dota 2, The International qualifiers starting next week, they are expecting to reach 250,000 collective fans of the teams taking part in this event.

VIE, Esports Entertainment Group’s betting platform, is the official host of the InVIE series, and the platform’s branding and odds will be displayed to viewers throughout the tournament. VIE has partnered with Live Media Esports Entertainment, one of the most innovative and renowned esports production company in Latin America, for operational and logistics support of the InVIE series.

“We are working with select South American esports organizations and partners to further strengthen our brand in a key region for us,” says Bux Syed, Director of VIE. “By launching our own branded tournament series, InVIE, we gain the brand positioning and activation we need, while enabling us to provide strongly deserved support to local esports scenes.”

VIE plans to host its first InVIE CS:GO event in July with 15 teams from Brazil, Peru, and Argentina competing for a $15,000 prize pool, one of the largest CS:GO prize pools for any South American-only event. More info to be released soon.

The Latin American esports market is the third largest globally and growing more than 17% annually.

About Esports Entertainment Group

Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Contact:

U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498
dave@redchip.com

Media & Investor Relations Inquiries
www.esportsentertainmentgroup.com

Definition of Small Cap in Relative Terms

Posted on June 18, 2021 by Admin


Image Credit: Kirt Edblom (Flickr)

How Covid and 2020 Investors Monkeyed with the Russell Reconstitution

The annual Russell reconstitution redefines what the maximum capitalization amount is for a company to be listed as a small-cap stock and the minimum to be considered large-cap. At least within their indices. The more common Investopedia definition reads: “Small-cap stocks generally have a market cap of $300 million to $2 billion and have been known to outperform their large-cap peers.” Without getting into whether the definition of “small” changes if the average is larger, or if “small” is a constant, the year-over-year change within the Russell is drastic and says a lot about the historic market event, we all experienced beginning in 2020.

The Covid Effect on the Russell

In 2021, the dividing line between the Russell large-cap and small-cap size breakouts rose well above any previous high. The crossover from small to large had been $2 billion in 2020 (in line with textbook definitions) one year later (today); it has more than doubled to $5.2 billion. If we flashback to just a dozen years ago, the increase was over four times the dividing line in 2009.

Recovery on Steroids

The obvious impetus for the growth of so many sectors is the strong US equity market after the fiscal and monetary stimulus. After the onset of the pandemic shook investors in March of 2020, the follow-up was for the Russell 1000 Index, the Russell 2000 Index, and the Russell Microcap Index to be lifted and deliver well above average returns for the year ending May 28, 2021 (Russell year). As shown in the graph below, the Russell 1000 rose 42.7%, and the Russell 2000 surged 64.6% for the 12-month period. The Russell Microcap index blasted even higher, clocking a return of 82.7%.

One data point of returns doesn’t tell the whole story. The way this played out, the Russell 2000 posted higher returns than the Russell 1000 for the 12-month period ending May 2021, Although the Russell 2000 fared worse than the Russell 1000 during the March 2020 downturn, and showed continued underperformance until the fourth quarter of 2020 when small-caps rallied to end the year challenging large-caps for the “win.” The Russell Microcap stocks have been on a tear since early 2021, reinforced by the January Reddit trading phenomenon.

Increase in Equity Issuance Impact

At close inspection, the preliminary list of additions to the Russell 3000 Index and Russell Microcap Index also uncovers increased equity issuance, this is another reason behind the record high large/small dividing line. For the 2021 reconstitution, the current list includes adding five IPOs to the Russell 1000, 38 IPOs to the Russell 2000, and 11 IPOs to the Russell Microcap Index. De-SPACs are also among the new names added to the indexes in 2021.

A year-over-year comparison of additions and deletions shows how the trend shifted from bifurcated markets to inclusive rapidly growing markets. On a net basis (additions minus deletions), the Russell 3000 will add 466 companies, compared to net deletions of 56 companies in 2020.

Take-Away

No other event during the year provides investors the opportunity to review a third-party breakdown of what occurred during the previous 12 months. Looking at the Russell Index Reconstitution after the historical pandemic year can help us understand where people run for safety, where they find value, and where the division between big and small is. It also helps us appreciate micro-caps, and that when it comes to investing, value matters, not size.

The newly reconstituted Russell indexes will be in effect after the market closes on June 25.

Suggested Reading:


Can the Market Continue to Defy Gravity?	Is Zero-Trust Architecture Enough?


Trading Accounts for Children	Do Analysts Price Targets Matter?

Sources:

https://www.ftserussell.com/resources/russell-reconstitution

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Release – Esports Entertainment Group Launches InVIE Esports Tournament Series with Dota 2 Season 1 in South America

Posted on June 18, 2021 by Admin

Esports Entertainment Group Launches InVIE Esports Tournament Series with Dota 2 Season 1 in South America

15-team CS:GO InVIE tournament planned for early July

InVIE series provides key brand positioning and activation for VIE.bet platform

The Latin American esports market is the third largest globally and growing more than 17% annually.

About Esports Entertainment Group

FORWARD-LOOKING STATEMENTS

Contact:

U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498
dave@redchip.com

Media & Investor Relations Inquiries
www.esportsentertainmentgroup.com

Month: June 2021