Jeff Bezos, Christopher Columbus, and Elon Musk (New Frontiers in Success)

 

Jeff Bezos gave some advice and did a little bragging on Twitter about his accomplishments last night (October 10). The tweet from the second richest man in the world got a response from Elon Musk, whose net worth lead over Bezos is growing. The advice in the post, just minutes before Columbus Day, seems to fit. It recognized the power of going against naysayers and believing in oneself. As for Elon Musk’s reply to Bezos, well, I guess this is how two men that own rocket ships communicate.

 

Background:

In 1999 the business weekly, Barron’s wrote a story on Amazon’s business and featured it on the cover of their magazine. The story was titled, “Amazon.bomb” it predicted the demise of the online store while dismissing Bezos by saying, “The idea that Amazon CEO Jeff Bezos has pioneered a new business paradigm is silly. ” Twenty-two and a half years later, the person many predicted was sailing off in the wrong direction, is worth $1.6 trillion, owns a more successful publication than Barron’s, and is sending people into space.

It isn’t clear if his tweet was related to Christopher Columbus who also could have failed had he not ignored naysayers, let go of what was the standard route to success, and instead found people that believed in him. The Bezos tweet reads: “Listen and be open, but don’t let anybody tell you who you are. This was just one of the many stories telling us all the ways we were going to fail. Today, Amazon is one of the world’s most successful companies and has revolutionized two entirely different industries.”

 

 

Elon Musk Response

Famous for his short, impactful Twitter posts and replies, Elon Musk responded with a simple emoji of a Second Place Silver Medal emoji. This “poke” collected 20,000 more “Likes” than the original post.  A few days earlier a major news outlet published an article showing how Elon Musk, has overtaken Bezos as the richest person and how he’s widening the gap.

 

 

Musk and Bezos compete on several frontiers, including self-driving cars and space exploration. The competitiveness of the two and the nudge and poke we woke up to on Twitter this morning is perhaps one way the ultra-successful keep themselves motivated.

 

Take-Away

If Christopher Columbus had access to Twitter in the early 1500s, would he have highlighted his success and given advice about listening to others while ignoring the naysayers? Would Amerigo Vespucci have tweeted back a map with two continents named after himself? We’ll obviously never know, but we know we can be grateful for so many who didn’t just follow others and instead went against criticism and found success.

 

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Reading:

Michael Burry vs Cathie Wood is Not an Even Competition

Warren Buffet vs. Elon Musk: Who’s Right?

Lithium-Ion Power vs Hydrogen Fuel Cell

Will U.S. Car Companies be Handed Different EV Advantages?

 

Sources:

https://www.barrons.com/articles/SB927932262753284707?tesla=y

https://www.bloomberg.com/news/articles/2021-10-08/musk-just-added-11-billion-in-wealth-dominates-the-rich-list 

https://www.linkedin.com/pulse/20141013110832-8211683-five-leadership-lessons-from-christopher-columbus/

https://www.bloomberg.com/news/articles/2021-10-11/musk-goads-bezos-after-extending-lead-as-world-s-richest-person

https://twitter.com/JeffBezos/status/1447403828505088011?ref_src=twsrc%5Etfw

An exclusive look at Jeff Bezos’s plan to set up Amazon-like delivery for ‘future human settlement’ of the moon – The Washington Post

 

Stay up to date. Follow us:

Jeff Bezos, Christopher Columbus, and Elon Musk (New Frontiers in Success)

 

Jeff Bezos gave some advice and did a little bragging on Twitter about his accomplishments last night (October 10). The tweet from the second richest man in the world got a response from Elon Musk, whose net worth lead over Bezos is growing. The advice in the post, just minutes before Columbus Day, seems to fit. It recognized the power of going against naysayers and believing in oneself. As for Elon Musk’s reply to Bezos, well, I guess this is how two men that own rocket ships communicate.

 

Background:

In 1999 the business weekly, Barron’s wrote a story on Amazon’s business and featured it on the cover of their magazine. The story was titled, “Amazon.bomb” it predicted the demise of the online store while dismissing Bezos by saying, “The idea that Amazon CEO Jeff Bezos has pioneered a new business paradigm is silly. ” Twenty-two and a half years later, the person many predicted was sailing off in the wrong direction, is worth $1.6 trillion, owns a more successful publication than Barron’s, and is sending people into space.

It isn’t clear if his tweet was related to Christopher Columbus who also could have failed had he not ignored naysayers, let go of what was the standard route to success, and instead found people that believed in him. The Bezos tweet reads: “Listen and be open, but don’t let anybody tell you who you are. This was just one of the many stories telling us all the ways we were going to fail. Today, Amazon is one of the world’s most successful companies and has revolutionized two entirely different industries.”

 

 

Elon Musk Response

Famous for his short, impactful Twitter posts and replies, Elon Musk responded with a simple emoji of a Second Place Silver Medal emoji. This “poke” collected 20,000 more “Likes” than the original post.  A few days earlier a major news outlet published an article showing how Elon Musk, has overtaken Bezos as the richest person and how he’s widening the gap.

 

 

Musk and Bezos compete on several frontiers, including self-driving cars and space exploration. The competitiveness of the two and the nudge and poke we woke up to on Twitter this morning is perhaps one way the ultra-successful keep themselves motivated.

 

Take-Away

If Christopher Columbus had access to Twitter in the early 1500s, would he have highlighted his success and given advice about listening to others while ignoring the naysayers? Would Amerigo Vespucci have tweeted back a map with two continents named after himself? We’ll obviously never know, but we know we can be grateful for so many who didn’t just follow others and instead went against criticism and found success.

 

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Reading:

Michael Burry vs Cathie Wood is Not an Even Competition

Warren Buffet vs. Elon Musk: Who’s Right?

Lithium-Ion Power vs Hydrogen Fuel Cell

Will U.S. Car Companies be Handed Different EV Advantages?

 

Sources:

https://www.barrons.com/articles/SB927932262753284707?tesla=y

https://www.bloomberg.com/news/articles/2021-10-08/musk-just-added-11-billion-in-wealth-dominates-the-rich-list 

https://www.linkedin.com/pulse/20141013110832-8211683-five-leadership-lessons-from-christopher-columbus/

https://www.bloomberg.com/news/articles/2021-10-11/musk-goads-bezos-after-extending-lead-as-world-s-richest-person

https://twitter.com/JeffBezos/status/1447403828505088011?ref_src=twsrc%5Etfw

An exclusive look at Jeff Bezos’s plan to set up Amazon-like delivery for ‘future human settlement’ of the moon – The Washington Post

 

Stay up to date. Follow us:

The College Equity Research Contest that Awards Up to $7,500 to Winning Student(s) and $5,000 to School

 

Boca Raton, Fl. November 1, 2021, Noble Capital Markets today announced the launch of its third annual Channelchek College Challenge. The equity research report contest is designed to encourage college students to explore the field of equity research and analysis. The prize package includes cash for both winning student(s) and the winner’s school, a paid internship with Noble Capital Markets, an award ceremony that will be recorded and played on the Nasdaq tower in New York, and more.

Participants are asked to prepare a “Wall Street-style” equity research report on one of the more than 6,000 public small and microcap companies found on channelchek.com. Channelchek is an investor resource featuring news and commentaries, equity research, live and recorded management discussions, company and stock market data, plus exclusive reports on select industries.

The student(s) that register for this year’s College Challenge will be competing for up to $7,500 paid to them; their college will receive an additional $5,000. The student(s) will also be offered a paid internship with Noble Capital Markets. The planned award ceremony this year will be online as possible restrictions on travel to South Florida still threaten and can’t be known looking out as far as early 2022. However, a video of the award presentation ceremony will be produced and featured on the NASDAQ Tower in New York City’s Times Square.

The College Challenge has been made possible with the support of the following sponsors: Channelchek, Salem Media Group, Kelly Services, NASDAQ, The College Investor, and E.W. Scripps, known for its National Spelling Bee. Contact Channelchek for information on sponsorship opportunities for the third College Challenge.

Mike Kupinski, Noble’s Director of Research, was active in providing guidance and judging last year’s College Challenge; he stated, “It’s exciting to be involved in this competition’s third year. Last year the students clearly took the competition seriously with reports that were well written, with thorough analysis. The winners, Melissa Mueller and Benjamin Trussel from the University of Tennessee are examples of the high level of talent present within the college community today.” Looking toward this year’s College Challenge, Kupinski said, “I hope that the competition will incent more students to be inspired to seek careers in equity research, as well as the financial industry.”

Registration Info: https://www.channelchekcollegechallenge.com

Contest Guidelines:

The Challenge is open to students without restrictions relating to age or academic specialization who are registered at an institute of higher learning anywhere in the United States. Entries will be judged by senior equity analysts at Noble Capital Markets.

A complete list of rules are available at 
College
Challenge Rules. Students planning to compete should be aware there will be regular emailed tips and two informational session webinars for those registered. The information session registration links will be sent to those already registered to take part in the contest. Students interested are encouraged to register early.

About Noble Capital Markets, Inc.

Noble Capital Markets (“Noble”) is a research-driven boutique investment bank that has supported small & microcap companies since 1984. As a FINRA and SEC licensed 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. Noble launched Channelchek – a new investment community dedicated exclusively to small and micro-cap companies and their industries in 2018. 
Channelchek is tailored to meet the needs of self-directed investors and financial professionals. Channelchek is the first service to offer institutional-quality research to the public, for FREE at every level without a subscription. More than 6,000 public emerging growth companies are listed on the site, with growing content including research, webcasts, podcasts, and balanced news.

For all inquiries contact: College Challenge

The College Equity Research Contest that Awards Up to $7,500 to Winning Student(s) and $5,000 to School

 

Boca Raton, Fl. November 1, 2021, Noble Capital Markets today announced the launch of its third annual Channelchek College Challenge. The equity research report contest is designed to encourage college students to explore the field of equity research and analysis. The prize package includes cash for both winning student(s) and the winner’s school, a paid internship with Noble Capital Markets, an award ceremony that will be recorded and played on the Nasdaq tower in New York, and more.

Participants are asked to prepare a “Wall Street-style” equity research report on one of the more than 6,000 public small and microcap companies found on channelchek.vercel.app. Channelchek is an investor resource featuring news and commentaries, equity research, live and recorded management discussions, company and stock market data, plus exclusive reports on select industries.

The student(s) that register for this year’s College Challenge will be competing for up to $7,500 paid to them; their college will receive an additional $5,000. The student(s) will also be offered a paid internship with Noble Capital Markets. The planned award ceremony this year will be online as possible restrictions on travel to South Florida still threaten and can’t be known looking out as far as early 2022. However, a video of the award presentation ceremony will be produced and featured on the NASDAQ Tower in New York City’s Times Square.

The College Challenge has been made possible with the support of the following sponsors: Channelchek, Salem Media Group, Kelly Services, NASDAQ, The College Investor, and E.W. Scripps, known for its National Spelling Bee. Contact Channelchek for information on sponsorship opportunities for the third College Challenge.

Mike Kupinski, Noble’s Director of Research, was active in providing guidance and judging last year’s College Challenge; he stated, “It’s exciting to be involved in this competition’s third year. Last year the students clearly took the competition seriously with reports that were well written, with thorough analysis. The winners, Melissa Mueller and Benjamin Trussel from the University of Tennessee are examples of the high level of talent present within the college community today.” Looking toward this year’s College Challenge, Kupinski said, “I hope that the competition will incent more students to be inspired to seek careers in equity research, as well as the financial industry.”

Registration Info: https://www.channelchekcollegechallenge.com

Contest Guidelines:

The Challenge is open to students without restrictions relating to age or academic specialization who are registered at an institute of higher learning anywhere in the United States. Entries will be judged by senior equity analysts at Noble Capital Markets.

A complete list of rules are available at 
College
Challenge Rules. Students planning to compete should be aware there will be regular emailed tips and two informational session webinars for those registered. The information session registration links will be sent to those already registered to take part in the contest. Students interested are encouraged to register early.

About Noble Capital Markets, Inc.

Noble Capital Markets (“Noble”) is a research-driven boutique investment bank that has supported small & microcap companies since 1984. As a FINRA and SEC licensed 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. Noble launched Channelchek – a new investment community dedicated exclusively to small and micro-cap companies and their industries in 2018. 
Channelchek is tailored to meet the needs of self-directed investors and financial professionals. Channelchek is the first service to offer institutional-quality research to the public, for FREE at every level without a subscription. More than 6,000 public emerging growth companies are listed on the site, with growing content including research, webcasts, podcasts, and balanced news.

For all inquiries contact: College Challenge

Friday, September 24, 2021

CoreCivic, Inc. (CXW)
Note Offering Upsized to $225 Million

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

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

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

Upsized Offering. CoreCivic upsized its tack-on offering of 8.25% senior notes to $225 million from an original $100 million. The demand for CXW paper is a positive sign that debt investors believe the Company can continue to satisfy its debt obligations, in our view, and provides at least a glimpse as to debt investors’ view of the Company’s business model.


Details.  The Additional Notes were priced at 102.25% of their aggregate principal amount, plus accrued interest from April 14, 2021, the issue date for CoreCivic’s previously issued $450 million aggregate principal amount of 8.25% senior unsecured notes due 2026 (the “Existing Notes”). The Additional Notes will have an effective yield to maturity of 7.65% and will constitute a single class of …

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. 

Friday, September 24, 2021

DLH (DLHC)
Awarded FEMA Contract with $87 Million Ceiling

DLH Holdings Corp is a provider of technology-enabled business process outsourcing and program management solutions in the United States. The company offers services to several government agencies which include the Department of veteran affairs, Department of health and human services, Department of Defense and other government agencies. It operates primarily through prime contracts and also derives its revenue from agencies of the federal government, primarily as a prime contractor but also as a subcontractor to other Federal prime contractors.

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

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

Contract. Under a Federal Emergency Management Agency (FEMA) contract to provide support for states seeking temporary hospital support during the COVID-19 pandemic, DLH has been awarded a contract to support the state of Alaska. The contract has a ceiling value of $87 million for the 90-day base period, with the potential for three one-month extensions. The contract begins Monday.


Details.  As the prime contractor, DLH will manage the emergency medical logistics coordination for the healthcare services teams fielded by its subcontractor, which will provide a significant percentage of the services. DLH will leverage its relationship with a nationally recognized temporary medical staffing firm to place experienced medical support personnel in communities throughout the state …

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. 

Thursday, September 23, 2021

CoreCivic, Inc. (CXW)
Title 42 Ruling; Contract Updates

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

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

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

Title 42 Ruling. Last week U.S. District Judge Emmet Sullivan blocked the Federal government from expelling migrant families from the United States under “Title 42.” The order takes effect in 14 days. The government has filed a notice of appeal to the United States Court of Appeals for the District of Columbia Circuit. If upheld, the elimination of Title 42 expulsions could increase demand for CoreCivic beds.


Key Points.  In a 58-page ruling, Judge Sullivan found that the Title 42 policy does not authorize the expulsion of migrants and therefore does not allow for those removed to be denied the opportunity to seek asylum in the U.S. While the ruling applies to families, many of whom are already being allowed to stay in the U.S., if Title 42 does not authorize the expulsion of families one can see the …

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. 

Thursday, September 23, 2021

The GEO Group, Inc. (GEO)
Title 42 Ruling; Contract Update

With over 94,000 beds owned, leased or managed across its business lines and serving over 260,000 people daily, GEO is a leading provider of mission critical real estate to its governmental partners. The Company is the first fully integrated equity REIT specializing in the design, financing, development, and operation of secure facilities, processing centers, and community reentry centers in the U.S., Australia, South Africa, and the U.K.

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

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

Title 42 Ruling. Last week U.S. District Judge Emmet Sullivan blocked the Federal government from expelling migrant families from the United States under “Title 42.” The order takes effect in 14 days. The government has filed a notice of appeal to the United States Court of Appeals for the District of Columbia Circuit. If upheld, the elimination of Title 42 expulsions could increase demand for GEO beds.


Key Points.  In a 58-page ruling, Judge Sullivan found that the Title 42 policy does not authorize the expulsion of migrants and therefore does not allow for those removed to be denied the opportunity to seek asylum in the U.S. While the ruling applies to families, many of whom are already being allowed to stay in the U.S., if Title 42 does not authorize the expulsion of families one can see the …

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. 

CoreCivic Announces Upsizing and Pricing of Tack-On Offering of $225 Million 8.25% Senior Notes Due 2026

 

BRENTWOOD, Tenn., Sept. 22, 2021 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that it successfully upsized and priced its offering of an additional $225,000,000 aggregate principal amount of CoreCivic’s 8.25% senior unsecured notes due 2026 (the “Additional Notes”). The aggregate principal amount of the Additional Notes to be issued in the offering was increased to $225 million from the previously announced $100 million. The Additional Notes were priced at 102.25% of their aggregate principal amount, plus accrued interest from April 14, 2021, the issue date for CoreCivic’s previously issued $450 million aggregate principal amount of 8.25% senior unsecured notes due 2026 (the “Existing Notes”). The Additional Notes will have an effective yield to maturity of 7.65% and will constitute a single class of securities with the Existing Notes.

The Additional Notes will be senior unsecured obligations of CoreCivic and will be guaranteed on a senior unsecured basis by all of CoreCivic’s subsidiaries that guarantee its senior secured credit facilities, the Existing Notes and its other indebtedness. The aggregate net proceeds from the sale of the Additional Notes are expected to be approximately $225.5 million, after deducting the underwriting discounts and estimated offering expenses. CoreCivic intends to use the net proceeds from the offering of the Additional Notes for general corporate purposes, which may include purchasing CoreCivic’s existing $174.0 million principal amount of 4.625% senior notes due 2023 and CoreCivic’s existing $250.0 million principal amount of 4.75% senior notes due 2027 in open market or privately negotiated transactions, and/or repayment of amounts outstanding under CoreCivic’s revolving credit facility, Term Loan A or Term Loan B. To the extent CoreCivic repays amounts outstanding under its revolving credit facility, such amounts may be reborrowed. There can be no assurance that the offering of the Additional Notes will be consummated.

Imperial Capital is acting as left lead underwriter, StoneX Financial Inc. is acting as joint lead arranger, and Wedbush Securities Inc. is acting as co-manager for the offering.

The Additional Notes are being offered pursuant to CoreCivic’s effective shelf registration statement on Form S-3ASR, which became effective upon filing with the Securities and Exchange Commission on April 6, 2021. A preliminary prospectus supplement describing the terms of the offering has been filed with the Securities and Exchange Commission and is available at www.sec.gov. The offering may be made only by means of a prospectus supplement and the accompanying prospectus. Copies of the preliminary prospectus supplement and accompanying prospectus relating to this offering may be obtained at Imperial Capital, LLC, 10100 Santa Monica Boulevard, Suite 2400, Los Angeles, CA 90067, Attn: Prospectus Department, or by telephone at (310) 246-3700.

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall there be any offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

This press release includes forward-looking statements regarding CoreCivic’s intention to issue the Additional Notes and its intended use of the net proceeds from the issuance of the Additional Notes. These forward-looking statements may be affected by risks and uncertainties in CoreCivic’s business and market conditions. This information is qualified in its entirety by cautionary statements and risk factor disclosures contained in CoreCivic’s Securities and Exchange Commission filings, including CoreCivic’s annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, as well as the risks identified in the preliminary prospectus supplement and the accompanying prospectus relating to the offering. CoreCivic wishes to caution readers that certain important factors may have affected and could in the future affect CoreCivic’s actual results and could cause CoreCivic’s actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of CoreCivic, including the risk that the offering of the Additional Notes cannot be successfully completed. CoreCivic undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.

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

CoreCivic Announces Upsizing and Pricing of Tack-On Offering of $225 Million 8.25% Senior Notes Due 2026

 

BRENTWOOD, Tenn., Sept. 22, 2021 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that it successfully upsized and priced its offering of an additional $225,000,000 aggregate principal amount of CoreCivic’s 8.25% senior unsecured notes due 2026 (the “Additional Notes”). The aggregate principal amount of the Additional Notes to be issued in the offering was increased to $225 million from the previously announced $100 million. The Additional Notes were priced at 102.25% of their aggregate principal amount, plus accrued interest from April 14, 2021, the issue date for CoreCivic’s previously issued $450 million aggregate principal amount of 8.25% senior unsecured notes due 2026 (the “Existing Notes”). The Additional Notes will have an effective yield to maturity of 7.65% and will constitute a single class of securities with the Existing Notes.

The Additional Notes will be senior unsecured obligations of CoreCivic and will be guaranteed on a senior unsecured basis by all of CoreCivic’s subsidiaries that guarantee its senior secured credit facilities, the Existing Notes and its other indebtedness. The aggregate net proceeds from the sale of the Additional Notes are expected to be approximately $225.5 million, after deducting the underwriting discounts and estimated offering expenses. CoreCivic intends to use the net proceeds from the offering of the Additional Notes for general corporate purposes, which may include purchasing CoreCivic’s existing $174.0 million principal amount of 4.625% senior notes due 2023 and CoreCivic’s existing $250.0 million principal amount of 4.75% senior notes due 2027 in open market or privately negotiated transactions, and/or repayment of amounts outstanding under CoreCivic’s revolving credit facility, Term Loan A or Term Loan B. To the extent CoreCivic repays amounts outstanding under its revolving credit facility, such amounts may be reborrowed. There can be no assurance that the offering of the Additional Notes will be consummated.

Imperial Capital is acting as left lead underwriter, StoneX Financial Inc. is acting as joint lead arranger, and Wedbush Securities Inc. is acting as co-manager for the offering.

The Additional Notes are being offered pursuant to CoreCivic’s effective shelf registration statement on Form S-3ASR, which became effective upon filing with the Securities and Exchange Commission on April 6, 2021. A preliminary prospectus supplement describing the terms of the offering has been filed with the Securities and Exchange Commission and is available at www.sec.gov. The offering may be made only by means of a prospectus supplement and the accompanying prospectus. Copies of the preliminary prospectus supplement and accompanying prospectus relating to this offering may be obtained at Imperial Capital, LLC, 10100 Santa Monica Boulevard, Suite 2400, Los Angeles, CA 90067, Attn: Prospectus Department, or by telephone at (310) 246-3700.

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall there be any offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

This press release includes forward-looking statements regarding CoreCivic’s intention to issue the Additional Notes and its intended use of the net proceeds from the issuance of the Additional Notes. These forward-looking statements may be affected by risks and uncertainties in CoreCivic’s business and market conditions. This information is qualified in its entirety by cautionary statements and risk factor disclosures contained in CoreCivic’s Securities and Exchange Commission filings, including CoreCivic’s annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, as well as the risks identified in the preliminary prospectus supplement and the accompanying prospectus relating to the offering. CoreCivic wishes to caution readers that certain important factors may have affected and could in the future affect CoreCivic’s actual results and could cause CoreCivic’s actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of CoreCivic, including the risk that the offering of the Additional Notes cannot be successfully completed. CoreCivic undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.

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

Thursday, September 23, 2021

The GEO Group, Inc. (GEO)
Title 42 Ruling; Contract Update

With over 94,000 beds owned, leased or managed across its business lines and serving over 260,000 people daily, GEO is a leading provider of mission critical real estate to its governmental partners. The Company is the first fully integrated equity REIT specializing in the design, financing, development, and operation of secure facilities, processing centers, and community reentry centers in the U.S., Australia, South Africa, and the U.K.

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

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

Title 42 Ruling. Last week U.S. District Judge Emmet Sullivan blocked the Federal government from expelling migrant families from the United States under “Title 42.” The order takes effect in 14 days. The government has filed a notice of appeal to the United States Court of Appeals for the District of Columbia Circuit. If upheld, the elimination of Title 42 expulsions could increase demand for GEO beds.


Key Points.  In a 58-page ruling, Judge Sullivan found that the Title 42 policy does not authorize the expulsion of migrants and therefore does not allow for those removed to be denied the opportunity to seek asylum in the U.S. While the ruling applies to families, many of whom are already being allowed to stay in the U.S., if Title 42 does not authorize the expulsion of families one can see the …

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. 

Thursday, September 23, 2021

CoreCivic, Inc. (CXW)
Title 42 Ruling; Contract Updates

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

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

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

Title 42 Ruling. Last week U.S. District Judge Emmet Sullivan blocked the Federal government from expelling migrant families from the United States under “Title 42.” The order takes effect in 14 days. The government has filed a notice of appeal to the United States Court of Appeals for the District of Columbia Circuit. If upheld, the elimination of Title 42 expulsions could increase demand for CoreCivic beds.


Key Points.  In a 58-page ruling, Judge Sullivan found that the Title 42 policy does not authorize the expulsion of migrants and therefore does not allow for those removed to be denied the opportunity to seek asylum in the U.S. While the ruling applies to families, many of whom are already being allowed to stay in the U.S., if Title 42 does not authorize the expulsion of families one can see the …

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. 

CoreCivic Announces Proposed Tack-On Offering of $100 Million of 8.25% Senior Notes Due 2026

 

BRENTWOOD, Tenn., Sept. 22, 2021 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that it intends to offer an additional $100,000,000 aggregate principal amount of its 8.25% senior unsecured notes due 2026 (the “Additional Notes”), subject to market and other customary conditions. CoreCivic’s previously issued $450 million aggregate principal amount of 8.25% senior unsecured notes due 2026 (the “Existing Notes”) and the Additional Notes will constitute a single class of securities. The Additional Notes will be senior unsecured obligations of CoreCivic and will be guaranteed on a senior unsecured basis by all of CoreCivic’s subsidiaries that guarantee its senior secured credit facilities, the Existing Notes and its other indebtedness. CoreCivic intends to use the net proceeds from the offering of the Additional Notes for general corporate purposes, which may include purchasing CoreCivic’s existing $174.0 million principal amount of 4.625% senior notes due 2023 and CoreCivic’s existing $250.0 million principal amount of 4.75% senior notes due 2027 in open market or privately negotiated transactions, and/or repayment of amounts outstanding under CoreCivic’s revolving credit facility, Term Loan A or Term Loan B. To the extent CoreCivic repays amounts outstanding under its revolving credit facility, such amounts may be reborrowed. There can be no assurance that the offering of the Additional Notes will be consummated.

Imperial Capital is acting as left lead underwriter, StoneX Financial Inc. is acting as joint lead arranger, and Wedbush Securities Inc. is acting as co-manager for the offering.

The Additional Notes are being offered pursuant to CoreCivic’s effective shelf registration statement on Form S-3ASR, which became effective upon filing with the Securities and Exchange Commission on April 6, 2021. A preliminary prospectus supplement describing the terms of the offering has been filed with the Securities and Exchange Commission and is available at www.sec.gov. The offering may be made only by means of a prospectus supplement and the accompanying prospectus. Copies of the preliminary prospectus supplement and accompanying prospectus relating to this offering may be obtained at Imperial Capital, LLC, 10100 Santa Monica Boulevard, Suite 2400, Los Angeles, CA 90067, Attn: Prospectus Department, or by telephone at (310) 246-3700.

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall there be any offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

This press release includes forward-looking statements regarding CoreCivic’s intention to issue the Additional Notes and its intended use of the net proceeds from the issuance of the Additional Notes. These forward-looking statements may be affected by risks and uncertainties in CoreCivic’s business and market conditions. This information is qualified in its entirety by cautionary statements and risk factor disclosures contained in CoreCivic’s Securities and Exchange Commission filings, including CoreCivic’s annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, as well as the risks identified in the preliminary prospectus supplement and the accompanying prospectus relating to the offering. CoreCivic wishes to caution readers that certain important factors may have affected and could in the future affect CoreCivic’s actual results and could cause CoreCivic’s actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of CoreCivic, including the risk that the offering of the Additional Notes cannot be successfully completed. CoreCivic undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.

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