Corporate action

Granite Real Estate Investment Trust and Granite REIT Inc. Announce Proposal to Unwind Stapled Unit Structure

Retrieved on: 
Monday, April 15, 2024
Commercial Building & Real Estate, Construction & Property, REIT, Supreme court, Meeting, TSX, Circular, Proxy, Real estate investing, Corporate action, Toronto Stock Exchange, Unit, Granite Real Estate, Granite

Granite Real Estate Investment Trust (“Granite REIT”) and Granite REIT Inc. (“Granite GP” and, together with Granite REIT, “Granite”) (TSX: GRT.UN; NYSE: GRP.U) announced today that, at the upcoming Joint Annual General and Special Meetings of holders of Granite’s stapled units (“Stapled Units”) scheduled for June 6, 2024, they intend to propose an internal reorganization (the “Reorganization”) that would simplify Granite’s capital structure by replacing its current Stapled Unit structure with a conventional REIT trust unit structure.

Key Points: 
  • Granite Real Estate Investment Trust (“Granite REIT”) and Granite REIT Inc. (“Granite GP” and, together with Granite REIT, “Granite”) (TSX: GRT.UN; NYSE: GRP.U) announced today that, at the upcoming Joint Annual General and Special Meetings of holders of Granite’s stapled units (“Stapled Units”) scheduled for June 6, 2024, they intend to propose an internal reorganization (the “Reorganization”) that would simplify Granite’s capital structure by replacing its current Stapled Unit structure with a conventional REIT trust unit structure.
  • As a result of the Reorganization, Granite REIT expects it will be more comparable to other Canadian real estate investment trusts due to its simplified structure, and that certain investors may therefore be more able or willing to invest in Granite REIT units rather than Stapled Units.
  • Currently, Granite unitholders hold Stapled Units, each of which consists of one Granite REIT unit and one common share of Granite GP.
  • As a result of the Reorganization, each Granite unitholder will hold a number of Granite REIT units equal to the number of Stapled Units they hold currently, and Granite GP will become a wholly-owned subsidiary of Granite REIT.

Numinus Wellness Provides Corporate Update

Retrieved on: 
Monday, April 15, 2024
Dragon (magazine), FDA, Dragon, Psychedelic drug, TSX, Corporate action, Attention, Toronto Stock Exchange, MDMA, Mental health, Patient, Health, PAT, Ketamine, Organization, Nursing

VANCOUVER, BC, April 15, 2024 /PRNewswire/ - Numinus Wellness Inc. ("Numinus" or the "Company") (TSX: NUMI) (OTCQX: NUMIF), a mental health care company advancing traditional and innovative behavioral health treatments with a focus on safe, evidence-based psychedelic-assisted therapies, provides an update following unauthorized disclosure in an online newspaper which has come to its attention.

Key Points: 
  • VANCOUVER, BC, April 15, 2024 /PRNewswire/ - Numinus Wellness Inc. ("Numinus" or the "Company") (TSX: NUMI) (OTCQX: NUMIF), a mental health care company advancing traditional and innovative behavioral health treatments with a focus on safe, evidence-based psychedelic-assisted therapies, provides an update following unauthorized disclosure in an online newspaper which has come to its attention.
  • Numinus affirms that any decision by management to complete the Canadian Reorganization will take into account the needs of Numinus patients and employees as well as maximizing benefits of Numinus' stakeholders.
  • Numinus will provide a further update when information is available.
  • To continue to support healthcare professionals and reinforce its commitment to advancing novel psychedelic-assisted therapies in Canada, Numinus is introducing a pilot membership program under its Numinus Network initiative.

CURO Group Holdings Corp. to Reduce Debt and Strengthen Financial Position Through Restructuring Support Agreement; Implements Prepackaged Restructuring Plan by Commencing Voluntary Chapter 11 Reorganization

Retrieved on: 
Monday, March 25, 2024
Banking, Fintech, Professional Services, Finance, Empyrean, RSA, Growth, Vinson & Elkins, Disclosure, Bankruptcy Code, DIP, LLP, Senior, United States bankruptcy court, Bankruptcy, Credit, Corporate action, OTC, File, Oaktree Capital Management, LP, Security (finance)

CURO also intends to file recognition proceedings in Canada under Part IV of the Companies’ Creditors Arrangement Act.

Key Points: 
  • CURO also intends to file recognition proceedings in Canada under Part IV of the Companies’ Creditors Arrangement Act.
  • CURO branches are open, operating as usual and continuing to serve customers in the U.S. and Canada.
  • (“Oaktree”), Caspian Capital LP, and Empyrean Capital Partners (the “Ad Hoc Group”) led negotiation of the RSA on behalf of creditors.
  • The DIP financing, which is subject to court approval, is expected to support the Company’s ongoing operations during the court-supervised process.

Fire Victim Trust to Increase Pro Rata Payments to California Fire Survivors to 66%

Retrieved on: 
Tuesday, March 12, 2024
Public Policy, Government, Legal, Natural Disasters, Utilities, Environment, State, Local, Energy, Professional Services, Bankruptcy, PG&E, Camp Fire (2018), Sale, Butte Fire, Death, Trust, United States bankruptcy court, Corporate action, Survivor, Fire, Medicine, FVT, Trustee, Campfire

Cathy Yanni, Trustee of the Fire Victim Trust (FVT), announced a pro rata payment increase from 60 percent to 66 percent effective April 25, 2024.

Key Points: 
  • Cathy Yanni, Trustee of the Fire Victim Trust (FVT), announced a pro rata payment increase from 60 percent to 66 percent effective April 25, 2024.
  • “With $1.2 billion in additional liquidity from our final stock sales and 97% of claims now accepted and final, we are confident we can safely increase the pro rata payment percentage for all fire survivors by six percent,” said Cathy Yanni.
  • The FVT was created in July 2020 and funded with both cash and shares of stock pursuant to PG&E’s Chapter 11 Plan of Reorganization.
  • The Fire Victim Trust evaluates, administers, processes and resolves eligible claims arising from the 2015 Butte Fire, 2017 North Bay Fires, and 2018 Camp Fire.

Audacy Provides Strong Performance Update Following Restructuring Plan Approval

Retrieved on: 
Tuesday, March 12, 2024
Entertainment, Communications, Technology, TV and Radio, Audio, Video, Podcast, Media, Wondery, FCC, Netflix, Sport, Digital, Acceleration, Puck, Sale, Art, The New York Times, FT, Wall, Metropolitan Museum of Art, Corporate action, BMI, Music

Audacy, Inc. (the “Company” or “Audacy”) is pleased to report a strong start to 2024, driving significant sequential acceleration across key financial metrics and performance indicators.

Key Points: 
  • Audacy, Inc. (the “Company” or “Audacy”) is pleased to report a strong start to 2024, driving significant sequential acceleration across key financial metrics and performance indicators.
  • The Company is providing this update to deliver additional visibility on its progress since receiving court approval of its consensual pre-packaged Plan of Reorganization on February 20, after just six weeks.
  • The Company now awaits FCC approval to complete its restructuring and plans to file its 2023 10-K later this month.
  • “Audacy is off to a strong start in 2024, driving accelerated financial and operating performance, including solid early growth in revenues, key digital metrics, and audience and revenue shares,” said David Field, Chairman, President and Chief Executive Officer, Audacy.

CorEnergy Enters Restructuring Support Agreement

Retrieved on: 
Monday, February 26, 2024
Energy, Construction & Property, REIT, Oil, Gas, International, Plan, TPH, Note, OTC, Corporate action, OTC Markets Group, Sale, Disclosure, Debt-to-GDP ratio, Public utilities commission, Perella Weinberg Partners, Common, RSA, Bankruptcy, Mogas, United States bankruptcy court, Trust, Stretto, Security (finance)

CorEnergy Infrastructure Trust, Inc. (OTC Pink: CORR, CORRL) (“CorEnergy” or the “Company”) today announced that it has reached an agreement with certain of its noteholders on a comprehensive financial restructuring that will reduce debt and restructure its balance sheet.

Key Points: 
  • CorEnergy Infrastructure Trust, Inc. (OTC Pink: CORR, CORRL) (“CorEnergy” or the “Company”) today announced that it has reached an agreement with certain of its noteholders on a comprehensive financial restructuring that will reduce debt and restructure its balance sheet.
  • The Ad Hoc Group of Noteholders, whose members hold approximately 90% of CorEnergy’s 5.875% Unsecured Convertible Senior Notes due 2025 (the “Senior Notes”), has entered into a Restructuring Support Agreement (the “RSA”) with the Company.
  • Neither Crimson Pipeline, in which CorEnergy holds a noncontrolling joint interest, nor any other CorEnergy subsidiary has filed for bankruptcy.
  • Both the Company and Crimson Pipeline expect to have sufficient liquidity to continue operating without interruption during and after CorEnergy’s restructuring process.

Endo Reaches Resolution with U.S. Department of Justice Regarding Legacy Marketing of Opana® ER

Retrieved on: 
Thursday, February 29, 2024
Ethics, OTC, Marketing, Corporate action, Culture, Internal Revenue Service, Endo International, DOJ, United States bankruptcy court, Average revenue per user, Cosmetic, Pharmaceutical industry

DUBLIN, Feb. 29, 2024 /PRNewswire/ -- Endo International plc (OTC: ENDPQ) ("Endo" or the "Company") today announced that its subsidiary, Endo Health Solutions Inc. ("EHSI"), has agreed to resolve all issues regarding previously disclosed U.S. Department of Justice ("DOJ") investigations of EHSI and other Company subsidiaries related to certain legacy marketing of Opana® ER. The Company voluntarily stopped marketing Opana® ER directly to U.S. healthcare providers in 2016 and stopped selling Opana® ER in 2017.

Key Points: 
  • DUBLIN, Feb. 29, 2024 /PRNewswire/ -- Endo International plc (OTC: ENDPQ) ("Endo" or the "Company") today announced that its subsidiary, Endo Health Solutions Inc. ("EHSI"), has agreed to resolve all issues regarding previously disclosed U.S. Department of Justice ("DOJ") investigations of EHSI and other Company subsidiaries related to certain legacy marketing of Opana® ER.
  • The Company voluntarily stopped marketing Opana® ER directly to U.S. healthcare providers in 2016 and stopped selling Opana® ER in 2017.
  • EHSI also agreed to resolve the DOJ's civil investigation of the sales and marketing of Opana® ER.
  • Endo submitted the DOJ resolutions to the Bankruptcy Court for approval, which Endo is seeking in conjunction with its proposed Plan of Reorganization.

Endo Reaches Resolution with U.S. Department of Justice Regarding Legacy Marketing of Opana® ER

Retrieved on: 
Thursday, February 29, 2024
Ethics, OTC, Marketing, Corporate action, Culture, Internal Revenue Service, Endo International, DOJ, United States bankruptcy court, Average revenue per user, Cosmetic, Pharmaceutical industry

DUBLIN, Feb. 29, 2024 /PRNewswire/ -- Endo International plc (OTC: ENDPQ) ("Endo" or the "Company") today announced that its subsidiary, Endo Health Solutions Inc. ("EHSI"), has agreed to resolve all issues regarding previously disclosed U.S. Department of Justice ("DOJ") investigations of EHSI and other Company subsidiaries related to certain legacy marketing of Opana® ER. The Company voluntarily stopped marketing Opana® ER directly to U.S. healthcare providers in 2016 and stopped selling Opana® ER in 2017.

Key Points: 
  • DUBLIN, Feb. 29, 2024 /PRNewswire/ -- Endo International plc (OTC: ENDPQ) ("Endo" or the "Company") today announced that its subsidiary, Endo Health Solutions Inc. ("EHSI"), has agreed to resolve all issues regarding previously disclosed U.S. Department of Justice ("DOJ") investigations of EHSI and other Company subsidiaries related to certain legacy marketing of Opana® ER.
  • The Company voluntarily stopped marketing Opana® ER directly to U.S. healthcare providers in 2016 and stopped selling Opana® ER in 2017.
  • EHSI also agreed to resolve the DOJ's civil investigation of the sales and marketing of Opana® ER.
  • Endo submitted the DOJ resolutions to the Bankruptcy Court for approval, which Endo is seeking in conjunction with its proposed Plan of Reorganization.

IronNet Successfully Completes Financial Restructuring: Reforged as a Private Company, Powered by Collective Defense

Retrieved on: 
Thursday, February 22, 2024
Security, RET, New product development, NDR, Plan, MDR, Education, IP3, Corporate action, Growth, Rear admiral, Government, Entrepreneurship, EDR, Bankruptcy, United States bankruptcy court, Partner (business rank), ABL, Trust, XDR, Arms industry

HALETHORPE, Md., Feb. 22, 2024 /PRNewswire/ -- IronNet, an innovative leader Transforming Cybersecurity Through Collective DefenseSM has completed its restructuring process and emerged from Chapter 11 as a private company.

Key Points: 
  • IronNet emerges as a stronger business, focused on advancing innovation with their product roadmap for the acclaimed IronNet Collective DefenseSM platform, IronDefense®.
  • Linda Zecher, CEO of IronNet, expressed enthusiasm about the future, stating, "At IronNet, we're embarking on a growth journey focused on our customers.
  • We are committed to delivering on our promises, enhancing the IronNet Collective Defense platform, and staying engaged with our clients.
  • IronNet has maintained the support and trust of numerous government and commercial customers, underscoring their confidence in IronNet's unique Collective Defense solutions.

IronNet Successfully Completes Financial Restructuring: Reforged as a Private Company, Powered by Collective Defense

Retrieved on: 
Thursday, February 22, 2024
Security, RET, New product development, NDR, Plan, MDR, Education, IP3, Corporate action, Growth, Rear admiral, Government, Entrepreneurship, EDR, Bankruptcy, United States bankruptcy court, Partner (business rank), ABL, Trust, XDR, Arms industry

HALETHORPE, Md., Feb. 22, 2024 /PRNewswire/ -- IronNet, an innovative leader Transforming Cybersecurity Through Collective DefenseSM has completed its restructuring process and emerged from Chapter 11 as a private company.

Key Points: 
  • IronNet emerges as a stronger business, focused on advancing innovation with their product roadmap for the acclaimed IronNet Collective DefenseSM platform, IronDefense®.
  • Linda Zecher, CEO of IronNet, expressed enthusiasm about the future, stating, "At IronNet, we're embarking on a growth journey focused on our customers.
  • We are committed to delivering on our promises, enhancing the IronNet Collective Defense platform, and staying engaged with our clients.
  • IronNet has maintained the support and trust of numerous government and commercial customers, underscoring their confidence in IronNet's unique Collective Defense solutions.