CoreCivic Announces 2021 First Quarter Earnings Release and Conference Call Dates

 

BRENTWOOD, Tenn., April 23, 2021 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that it will release its 2021 first quarter financial results after the market closes on Wednesday, May 5, 2021.  

A live broadcast of CoreCivic’s conference call will begin at 10:00 a.m. central time (11:00 a.m. eastern time) on Thursday, May 6, 2021, and will be accessible through the Company’s website at www.corecivic.com under the “Events & Presentations” section of the “Investors” page. The live broadcast can also be accessed by dialing 800-367-2403 in the U.S. and Canada, including the confirmation passcode 7487376. An online replay of the call will be archived on our website promptly following the conference call. In addition, there will be a telephonic replay available beginning at 1:00 p.m. central time (2:00 p.m. eastern time) on May 6, 2021, through 1:00 p.m. central time (2:00 p.m. eastern time) on May 14, 2021. To access the telephonic replay, dial 888-203-1112 in the U.S. and Canada. International callers may dial +1 719-457-0820 and enter passcode 8097453.

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

CO2 Emissions by Country

 

Each Country’s Share of Emissions (GT=Gigaton)

 

Countries across the globe have varying populations and are at different stages of development which influences their CO2 output along with emitting other greenhouse gases into the atmosphere. The International Energy Agency has compiled related data in the pie chart above and tables below. The amount per country and amount per capita are startling in their differences.

 

The 21 Countries that Emitted the Most Carbon Dioxide  

 

 

Measured in gigatons, the top CO2-producing countries are among the most populous and industrial (above). Looking at how much CO2 is released per capita and the list provides a very different perspective. India moves down from #3 to #21, and Kazakstan which was #21 moves up to #2.

 

 

The story that emerges from this data is that, in general, developed countries and major emerging economy nations contribute the most in total carbon dioxide emissions while some developing nations lead in the average emitted carbon dioxide per resident.

 

Sources:

http://energyatlas.iea.org/#!/tellmap/1378539487

https://www.ucsusa.org/resources/each-countrys-share-co2-emissions

 

 

 

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ISG GovernX® Adds Real-Time Data Feeds for Complete Risk Management Solution

 

STAMFORD, Conn.–(BUSINESS WIRE)– Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, said today it is adding real-time data feeds to its market-leading ISG GovernX® vendor compliance and risk management platform, to help clients monitor and respond to risk events as they happen.

GovernX is the industry’s only governance solution that integrates contract information, strategic relationship management and real-time risk monitoring and alerts to pro-actively mitigate business risk. Users can now add a variety of external data feeds to the platform for an unparalleled view of all potential risks, both within their specific supplier ecosystem and from the broader marketplace. Intelligent workflows identify and categorize each risk, alert the appropriate functions, and trigger automated responses, including targeted risk assessments to the suppliers involved.

The new third-party risk management capabilities come as provider ecosystems continue to grow more complex, introducing more risk to the enterprise, and threats against supply-chain integrity become more diverse. In addition to monitoring the operational performance and financial viability of their suppliers, enterprises need to address a range of other internal and external risks, from data security and regulatory issues, to adverse environmental, health and geopolitical events, to social responsibility, diversity and inclusion considerations.

“As companies prioritize digital transformation and increase their reliance on third-party vendors to achieve their goals, it’s no longer enough to simply monitor the supplier landscape and conduct periodic, point-in-time risk assessments,” said Lois Coatney, partner and president, ISG GovernX. “The newest version of our platform proactively monitors a company’s entire landscape and sends real-time alerts on potential threats to the right people, with a clear path for action and resolution.”

Beyond these new risk management capabilities, the ISG GovernX platform allows clients to manage their full portfolio of contracts, ensuring the right controls are in place through the entire contract lifecycle. The platform also manages each supplier’s performance and compliance to obligations, ensuring an accurate and up-to-date profile of each relationship.

“Internal and external intelligence is crucial to a well-managed business, but CIOs and CSOs lose sleep over the many red flags that are missed in the deluge of data that is generated every day,” Coatney said. “Sending information to the right team with a clear record of accountability and follow-through not only helps mitigate risk, it proves to regulators and other stakeholders that a company has evaluated and acted on information in a timely way.

“Combined with our internal supplier performance monitoring, ISG GovernX clients now have a complete inside-out and outside-in view of each supplier’s operational performance, how it is meeting its contractual obligations, and how risks in the supplier’s business and in the broader marketplace can impact overall service and supply chain integrity,” she said.

In 2020, ISG GovernX saw a 90 percent increase in enterprise subscriptions, as clients embrace a more effective way to automate and manage their ever-growing portfolio of software and services contracts and understand potential risks to their supply chain, which have been amplified by the COVID-19 pandemic.

ISG GovernX enables organizations to control costs by managing consumption, validating invoices, optimizing demand, reviewing all new requests against the spending portfolio and controlling value leakage. More than $46 billion of supplier contracts are now managed on GovernX, and there are more than 12,000 active users on the platform.

To learn more about the enhanced risk management capabilities of GovernX, visit this webpage. For an overview of the broader GovernX platform, click here.

About ISG

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

Source: Information Services Group, Inc.

ISG GovernX® Adds Real-Time Data Feeds for Complete Risk Management Solution

 

STAMFORD, Conn.–(BUSINESS WIRE)– Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, said today it is adding real-time data feeds to its market-leading ISG GovernX® vendor compliance and risk management platform, to help clients monitor and respond to risk events as they happen.

GovernX is the industry’s only governance solution that integrates contract information, strategic relationship management and real-time risk monitoring and alerts to pro-actively mitigate business risk. Users can now add a variety of external data feeds to the platform for an unparalleled view of all potential risks, both within their specific supplier ecosystem and from the broader marketplace. Intelligent workflows identify and categorize each risk, alert the appropriate functions, and trigger automated responses, including targeted risk assessments to the suppliers involved.

The new third-party risk management capabilities come as provider ecosystems continue to grow more complex, introducing more risk to the enterprise, and threats against supply-chain integrity become more diverse. In addition to monitoring the operational performance and financial viability of their suppliers, enterprises need to address a range of other internal and external risks, from data security and regulatory issues, to adverse environmental, health and geopolitical events, to social responsibility, diversity and inclusion considerations.

“As companies prioritize digital transformation and increase their reliance on third-party vendors to achieve their goals, it’s no longer enough to simply monitor the supplier landscape and conduct periodic, point-in-time risk assessments,” said Lois Coatney, partner and president, ISG GovernX. “The newest version of our platform proactively monitors a company’s entire landscape and sends real-time alerts on potential threats to the right people, with a clear path for action and resolution.”

Beyond these new risk management capabilities, the ISG GovernX platform allows clients to manage their full portfolio of contracts, ensuring the right controls are in place through the entire contract lifecycle. The platform also manages each supplier’s performance and compliance to obligations, ensuring an accurate and up-to-date profile of each relationship.

“Internal and external intelligence is crucial to a well-managed business, but CIOs and CSOs lose sleep over the many red flags that are missed in the deluge of data that is generated every day,” Coatney said. “Sending information to the right team with a clear record of accountability and follow-through not only helps mitigate risk, it proves to regulators and other stakeholders that a company has evaluated and acted on information in a timely way.

“Combined with our internal supplier performance monitoring, ISG GovernX clients now have a complete inside-out and outside-in view of each supplier’s operational performance, how it is meeting its contractual obligations, and how risks in the supplier’s business and in the broader marketplace can impact overall service and supply chain integrity,” she said.

In 2020, ISG GovernX saw a 90 percent increase in enterprise subscriptions, as clients embrace a more effective way to automate and manage their ever-growing portfolio of software and services contracts and understand potential risks to their supply chain, which have been amplified by the COVID-19 pandemic.

ISG GovernX enables organizations to control costs by managing consumption, validating invoices, optimizing demand, reviewing all new requests against the spending portfolio and controlling value leakage. More than $46 billion of supplier contracts are now managed on GovernX, and there are more than 12,000 active users on the platform.

To learn more about the enhanced risk management capabilities of GovernX, visit this webpage. For an overview of the broader GovernX platform, click here.

About ISG

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

Source: Information Services Group, Inc.

 

New Waitlist for Reddit Talk – Have you Added Yourself?

 

Reddit has decided to broaden its services to include audio conversations – à la Clubhouse. Today, the social media platform announced that they are in the testing phase of what is starting to be a trend in social media.

You can get in on the early tests (we are).  So if you aren’t following u/channelchek, get that done now!

https://www.reddit.com/user/channelchek/

To be on the waitlist Reddit asks you to answer a few questions; they’ll let you know when Reddit Talk will be available. Only moderators can start talks during early tests, but any Redditor on iOS and Android can listen in.  They’ll then roll out the full version from there.

 

Clubhouse is an invitation-only social media app for iOS that facilitates auditory communication through rooms that can accommodate groups of up to 5,000 people. The audio-only app hosts virtual rooms for live discussions, with opportunities for individuals to participate through speaking and listening.

 

Functionality

You’ll be able to listen and can interact with discussions by reacting with emojis. If you have something you want to contribute to the conversation, you raise a virtual hand, and a host could invite you to talk.

How’s Your Karma?

Hosts will be able to see how much karma each user who raises a hand has. So that may be something to work on. They say they plan to give the feature “the best moderation experience possible.”  And as another differentiator to the popular Clubhouse, which has people using their real identities and photos, Reddit Talk users will be able to use pseudonyms and avatars.

See you online!

 

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Thursday, April 15, 2021

Schwazze (SHWZ)
Call with Management

Medicine Man Technologies, Inc. is now operating under its new trade name, Schwazze. Schwazze is executing its strategy to become a leading vertically integrated cannabis holding company with a portfolio consisting of top-tier licensed brands spanning cultivation, extraction, infused-product manufacturing, dispensary operations, consulting, and a nutrient line. Schwazze leadership includes Colorado cannabis leaders with proven expertise in product and business development as well as top-tier executives from Fortune 500 companies. As a leading platform for vertical integration, Schwazze is strengthening the operational efficiency of the cannabis industry in Colorado and beyond, promoting sustainable growth and increased access to capital, while delivering best-quality service and products to the end consumer. The corporate entity continues to be named Medicine Man Technologies, Inc.

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

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

Management Q&A. We recently had an opportunity to conduct a question and answer session with Schwazze CEO Justin Dye and CFO Nancy Huber. The call covered a wide range of topics including the current state of the business, the Star Buds acquisition, the state of the Colorado market, the M&A pipeline, and the legislative environment. We came away impressed with the Schwazze story and the opportunities available to the Company.


M&A Integration and Synergies.  A key strength and differentiating factor of management, in our opinion, is bringing a “grocery store” mindset and operating model to the cannabis industry, which has much higher margins. Already, management has tripled Purplebees output and revenues and seen significant margin improvement in former Mesa retail dispensaries. This level of operating detail is being …

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 $450 Million 8.25% Senior Notes Due 2026

 

BRENTWOOD, Tenn., April 15, 2021 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (the “Company”) closed its offering of $450,000,000 aggregate principal amount of 8.25% senior unsecured notes due 2026 (the “Notes”) on April 14, 2021. The Notes were priced at 99.0% of face value and have an effective yield to maturity of 8.50%. The aggregate net proceeds from the sale of the Notes are expected to be approximately $435.1 million, after deducting the original issuance and underwriting discounts and estimated offering expenses. CoreCivic is using a significant amount of the net proceeds from the offering of the Notes (i) to redeem all $250 million principal amount of its outstanding 5.00% senior notes due 2022 (the “2022 Senior Notes”), which have been called for redemption on May 14, 2021 by a redemption notice issued on April 14, 2021, including the payment of the applicable make-whole amount and accrued interest, and (ii) to otherwise repay or reduce its other indebtedness, which includes repurchasing approximately $128 million principal amount of the $350 million aggregate principal amount of 4.625% senior notes due 2023 (the “2023 Senior Notes”). Following the repurchases of the 2023 Senior Notes described in the preceding sentence, the outstanding principal balance of the 2023 Senior Notes will be approximately $222 million. CoreCivic may use any remaining proceeds for general corporate purposes.

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

The Notes were 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 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 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 it constitute a notice of redemption under the indenture governing the 2022 Senior Notes or the indenture governing the 2023 Senior Notes, 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 intended use of the remaining net proceeds from the issuance of the 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 for the fiscal year ended December 31, 2020, filed with the Securities and Exchange Commission on February 22, 2021, as well as the risks identified in the 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 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

 

Harte Hanks Announces Opening of New State-of-the-Art Fulfillment and Distribution Facility in Kansas City, Kansas

 

New 297,000 Sq. Ft. Center with FDA/KDA Licensing Provides Food, OTC and Packaged Goods Product Storage and Distribution Capabilities

AUSTIN, Texas, April 15, 2021 /PRNewswire/ — Harte Hanks (Harte Hanks), a leading global customer experience company, today announced the opening of a new state-of-the-art fulfillment and distribution facility in Kansas City, Kansas.

This new location enables Harte Hanks’ clients to reach their customers with products in any region of the contiguous United States using standard ground transportation within three days, and outer regions such as Hawaii, Alaska and Puerto Rico within five days.

The Kansas City facility is expected to begin distributing over 20,000 packages a day, supporting the company’s move into eCommerce fulfillment. The facility expects to employ up to 125 professionals in various areas, including packaging, warehousing, logistics, and sales in both new and existing job opportunities.

Harte Hanks chose the Kansas City area to enable existing employees to access the new operation easily and to tap into the skilled workforce in the Kansas City marketplace as the company grows.

Brian Linscott, Harte Hanks’ Chief Operating Officer, said, “We are excited to expand our Fulfillment footprint, retain our highly skilled Kansas City team, and leverage the central distribution location to create efficient solutions for current and new customers.”

The facility, which features leading-edge digital print and packaging capabilities, is registered with the FDA and the Kansas Department of Agriculture to store and distribute packaged food products. These features, along with the facility’s grade A National Sanitation Foundation (NSF) certification, ensure that products and brands will be stored and shipped using the highest sanitation and food safety standards. 

“Whether fulfilling OTC products like vitamins and supplements, coffees and teas, pet foods, snack foods, cereals, or any packaged food product, this state-of-the-art temperature-controlled facility ensures that your product is delivered quickly and safely to your most desired customer,” said Pat O’Brien, Managing Director of Harte Hanks’ Fulfillment and Logistics business. “Our Marketing Services capabilities also provide clients with the ability to manage their digital storefront, end to end, making our offer highly differentiated.”    

Mr. O’Brien noted, for example, the facility’s ability to deliver fast and easy “smart sampling” options for customers. “Whether sampling packaged goods, pharmaceutical products, eCommerce goods or healthcare patient kits, the new facility’s central location can rapidly process and ship these products to customers in an incredibly effective manner that also provides significant cost savings.” 

About Harte Hanks

Harte Hanks (OTCMKTS: HRTH) is a global omnichannel customer experience company. We partner with clients to seamlessly manage experiences with their customers throughout the entire customer lifecycle through our marketing services, customer care, and fulfillment and logistics offerings. Harte Hanks works with some of the world’s most respected brands, including Bank of America, Cisco, IBM, Pfizer, Sony and Ford, among others. Headquartered in Austin, Texas, Harte Hanks has more than 2,000 employees in offices across the Americas, Europe and Asia Pacific.

For more information, visit hartehanks.com. 
For any questions, please contact Pat.Obrien@hartehanks.com

Images Available Upon Request

SOURCE Harte Hanks

Harte Hanks Announces Opening of New State-of-the-Art Fulfillment and Distribution Facility in Kansas City, Kansas

 

New 297,000 Sq. Ft. Center with FDA/KDA Licensing Provides Food, OTC and Packaged Goods Product Storage and Distribution Capabilities

AUSTIN, Texas, April 15, 2021 /PRNewswire/ — Harte Hanks (Harte Hanks), a leading global customer experience company, today announced the opening of a new state-of-the-art fulfillment and distribution facility in Kansas City, Kansas.

This new location enables Harte Hanks’ clients to reach their customers with products in any region of the contiguous United States using standard ground transportation within three days, and outer regions such as Hawaii, Alaska and Puerto Rico within five days.

The Kansas City facility is expected to begin distributing over 20,000 packages a day, supporting the company’s move into eCommerce fulfillment. The facility expects to employ up to 125 professionals in various areas, including packaging, warehousing, logistics, and sales in both new and existing job opportunities.

Harte Hanks chose the Kansas City area to enable existing employees to access the new operation easily and to tap into the skilled workforce in the Kansas City marketplace as the company grows.

Brian Linscott, Harte Hanks’ Chief Operating Officer, said, “We are excited to expand our Fulfillment footprint, retain our highly skilled Kansas City team, and leverage the central distribution location to create efficient solutions for current and new customers.”

The facility, which features leading-edge digital print and packaging capabilities, is registered with the FDA and the Kansas Department of Agriculture to store and distribute packaged food products. These features, along with the facility’s grade A National Sanitation Foundation (NSF) certification, ensure that products and brands will be stored and shipped using the highest sanitation and food safety standards. 

“Whether fulfilling OTC products like vitamins and supplements, coffees and teas, pet foods, snack foods, cereals, or any packaged food product, this state-of-the-art temperature-controlled facility ensures that your product is delivered quickly and safely to your most desired customer,” said Pat O’Brien, Managing Director of Harte Hanks’ Fulfillment and Logistics business. “Our Marketing Services capabilities also provide clients with the ability to manage their digital storefront, end to end, making our offer highly differentiated.”    

Mr. O’Brien noted, for example, the facility’s ability to deliver fast and easy “smart sampling” options for customers. “Whether sampling packaged goods, pharmaceutical products, eCommerce goods or healthcare patient kits, the new facility’s central location can rapidly process and ship these products to customers in an incredibly effective manner that also provides significant cost savings.” 

About Harte Hanks

Harte Hanks (OTCMKTS: HRTH) is a global omnichannel customer experience company. We partner with clients to seamlessly manage experiences with their customers throughout the entire customer lifecycle through our marketing services, customer care, and fulfillment and logistics offerings. Harte Hanks works with some of the world’s most respected brands, including Bank of America, Cisco, IBM, Pfizer, Sony and Ford, among others. Headquartered in Austin, Texas, Harte Hanks has more than 2,000 employees in offices across the Americas, Europe and Asia Pacific.

For more information, visit hartehanks.com. 
For any questions, please contact Pat.Obrien@hartehanks.com

Images Available Upon Request

SOURCE Harte Hanks

 

CoreCivic Announces Upsizing and Pricing of $450 Million 8.25% Senior Notes Due 2026

 

BRENTWOOD, Tenn., April 15, 2021 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (the “Company”) closed its offering of $450,000,000 aggregate principal amount of 8.25% senior unsecured notes due 2026 (the “Notes”) on April 14, 2021. The Notes were priced at 99.0% of face value and have an effective yield to maturity of 8.50%. The aggregate net proceeds from the sale of the Notes are expected to be approximately $435.1 million, after deducting the original issuance and underwriting discounts and estimated offering expenses. CoreCivic is using a significant amount of the net proceeds from the offering of the Notes (i) to redeem all $250 million principal amount of its outstanding 5.00% senior notes due 2022 (the “2022 Senior Notes”), which have been called for redemption on May 14, 2021 by a redemption notice issued on April 14, 2021, including the payment of the applicable make-whole amount and accrued interest, and (ii) to otherwise repay or reduce its other indebtedness, which includes repurchasing approximately $128 million principal amount of the $350 million aggregate principal amount of 4.625% senior notes due 2023 (the “2023 Senior Notes”). Following the repurchases of the 2023 Senior Notes described in the preceding sentence, the outstanding principal balance of the 2023 Senior Notes will be approximately $222 million. CoreCivic may use any remaining proceeds for general corporate purposes.

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

The Notes were 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 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 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 it constitute a notice of redemption under the indenture governing the 2022 Senior Notes or the indenture governing the 2023 Senior Notes, 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 intended use of the remaining net proceeds from the issuance of the 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 for the fiscal year ended December 31, 2020, filed with the Securities and Exchange Commission on February 22, 2021, as well as the risks identified in the 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 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

 

Monday, April 12, 2021

CoreCivic, Inc. (CXW)
Contract Aging: A Deeper Dive

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.

A Deeper Dive. We took a deeper dive into CoreCivic’s ability to repay its debt. We believe the Company is well positioned to handle its debt under nearly any circumstance. Although the executive orders have increased uncertainty around CoreCivic’s business, we continue to believe, for a number of reasons, that the USMS issues will ultimately be resolved in a manner that the Company can live with.


A Stable Business.  In spite of the year-in and year-out changes to its business, including the loss of major customers in the past, CoreCivic generates a remarkably stable level of cash flows. We believe the long-term nature of many of its contracts help isolate the Company from a massive run-off of business in a short period of time …

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. 

Monday, April 12, 2021

The GEO Group, Inc. (GEO)
Contract Aging: A Deeper Dive

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.

A Deeper Dive. We took a deeper dive into GEO’s ability to repay its debt. We believe the Company is positioned to handle its debt under nearly any circumstance. Although the executive orders have increased uncertainty around GEO’s business, we continue to believe, for a number of reasons, that the USMS issues will ultimately be resolved in a manner that the Company can live with. While the loss of the BoP business will hurt, it is not fatal, in our view.


A Stable Business.  In spite of the year-in and year-out changes to its business, including the loss of customers in the past, GEO generates a remarkably stable level of cash flows. We believe the long-term nature of many of its contracts help isolate the Company from a massive run-off of business in a short period of time …

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, April 08, 2021

CoreCivic, Inc. (CXW)
A Deal Can Be Done, But At What Cost?

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.

Note Offering. Yesterday, CoreCivic closed an upsized offering of $450 million senior unsecured notes due 2026. The proceeds will be used to repay the outstanding $250 million of 5% senior notes due 2022 and reduce other outstanding indebtedness, which may include redeeming a portion of the $350 million 4.625% senior notes due 2023. Net proceeds from the sale of the notes are expected to be approximately $435.1 million.


Cost? The debt sports a stated 8.25% interest rate, although given the price discount, the effective yield to maturity is 8.5%.  Obviously, a premium to the note that is being paid off. Nonetheless, in our opinion, the deal does demonstrate that CoreCivic can obtain financing, even in an uncertain operating environment. Assuming the entire $435 million was used to redeem the above outstanding debt …

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.