Corporate action

Avertix, Maker of First and Only FDA-Approved Implantable Heart Attack Warning System, to Become Publicly Traded via Merger with BIOS Acquisition Corporation

Retrieved on: 
Wednesday, May 3, 2023
TPT, Heart, LLP, Plan, CMS, Cayman, American Heart Association, Honigman LLP, Acute coronary syndrome, Cardiovascular disease, Clinical trial, Splenic infarction, Trust, BIOS, Business analyst, ESOP, Accounting, CDC, Medicare, Cooley LLP, Acquisition, Patient, ACS, Transaction, Korea Disease Control and Prevention Agency, Walkers, FDA, Health, Death, Corporate action, World Health Organization, Medical device, Pharmaceutical industry

EATONTOWN, N.J. and NEW YORK, May 03, 2023 (GLOBE NEWSWIRE) -- Avertix Medical, Inc. (“Avertix” or the “Company”), formerly known as Angel Medical Systems, Inc., a company focused on improving long-term management and outcomes of high-risk coronary disease in patients who have survived one or more heart attacks, and BIOS Acquisition Corporation (dba BioPlus Acquisition Corp.) (“BIOS”) (Nasdaq: BIOS), a special purpose acquisition company, today announced that the companies have entered into a definitive merger agreement for a business combination (the “Transaction”) that would result in Avertix becoming a publicly traded company on Nasdaq. The Transaction is expected to close in the second half of 2023. The combined company, which will be named Avertix Medical, Inc., will have an enterprise value of approximately $195 million, and the common stock of the combined company is expected to be listed on Nasdaq under the ticker symbol “AVRT.”

Key Points: 
  • Avertix’s ALERTS clinical trial showed the Guardian System enables heart attack patients to seek urgent medical attention earlier than patients who relied only on symptoms.
  • “We are thrilled to join forces with BIOS to accelerate the commercialization, adoption and continued development of the Guardian System.
  • Approximately 25% of these heart attack survivors will experience a second heart attack within five years of their first.
  • LifeSci Capital LLC is acting as the fairness opinion provider to the board of directors of BIOS.

Catalina Completes Key Milestone of Financial Restructuring; Expects to Close Sale of Catalina Marketing Japan K.K. in the Coming Days

Retrieved on: 
Friday, April 28, 2023
Bankruptcy, FTI Consulting, Weil, Gotshal & Manges, Sale, United States Bankruptcy Court for the Southern District of New York, Powers, Title 11 of the United States Code, Investment, Court, United States bankruptcy court, Corporate action, Data science

ST. PETERSBURG, Fla., April 28, 2023 /PRNewswire/ -- Catalina, a market leader in shopper intelligence, today announced that the United States Bankruptcy Court for the Southern District of New York ("the Court") has confirmed the company's prepackaged Plan of Reorganization. Catalina expects to close the sale of its Japanese entity, Catalina Marketing Japan K.K., to Yosemite 2 K.K. and successfully emerge from chapter 11 in the coming days. Upon emergence, Catalina will substantially reduce its debt and move forward with a significantly strengthened balance sheet to accelerate investment in strategic growth areas.

Key Points: 
  • Catalina expects to close the sale of its Japanese entity, Catalina Marketing Japan K.K., to Yosemite 2 K.K.
  • and successfully emerge from chapter 11 in the coming days.
  • Upon emergence, Catalina will substantially reduce its debt and move forward with a significantly strengthened balance sheet to accelerate investment in strategic growth areas.
  • "We are pleased to have achieved this key milestone in our financial restructuring," said Wayne Powers, President and Chief Executive Officer of Catalina.

The Boy Scouts of America (BSA) Announces Confirmation of Plan of Reorganization and Emergence from Chapter 11 Bankruptcy to Equitably Compensate Survivors While Ensuring Scouting Continues Across the Country

Retrieved on: 
Wednesday, April 19, 2023
Volunteering, Survivor, Learning, BSA, Report, Chapter 11, Title 11, United States Code, Eagle Scout, Hope, Army Heritage Center Foundation, Chief Scout Executive, Boy, Boy Scouts, California Victim Compensation Board, Corporate action, Behavior, Safety, Management, Tourism, Toy, Scouting

IRVING, Texas, April 19, 2023 /PRNewswire/ -- Today, the Boy Scouts of America (BSA) emerged from Chapter 11 bankruptcy and fulfills a commitment it made when it commenced its restructuring process in February 2020: to equitably compensate survivors and preserve the mission of Scouting. The court-approved Plan of Reorganization will establish a Victims Compensation Trust that is currently valued at $2.4 billion with the opportunity for additional contributions by numerous other parties, including the BSA's insurers that have not yet settled.

Key Points: 
  • The BSA's Plan will successfully establish a compensation fund with the overwhelming support of more than 85% of survivors in the case.
  • IRVING, Texas, April 19, 2023 /PRNewswire/ -- Today, the Boy Scouts of America (BSA) emerged from Chapter 11 bankruptcy and fulfills a commitment it made when it commenced its restructuring process in February 2020: to equitably compensate survivors and preserve the mission of Scouting.
  • "Our hope is that our Plan of Reorganization will bring some measure of peace to survivors of past abuse in Scouting, whose bravery, patience and willingness to share their experiences has moved us beyond words."
  • The BSA also offers a 24/7 Scouts First Helpline (1-844-SCOUTS1) and email contact address ( [email protected] ) for help reporting suspected abuse or inappropriate behavior.

Eaton Vance Closed-End Fund Merger Complete

Retrieved on: 
Monday, April 17, 2023
Asset Management, Professional Services, Finance, Agreement, Morgan Stanley, Exercise, Plan, Mutual fund, EXD, Investment, Risk, ETV, NYSE, Corporate action, Security (finance), Financial services, Fund

The merger of Eaton Vance Tax-Managed Buy-Write Strategy Fund (NYSE: EXD) into Eaton Vance Tax-Managed Buy-Write Opportunities Fund (NYSE: ETV) was completed at the close of the New York Stock Exchange on April 14, 2023.

Key Points: 
  • The merger of Eaton Vance Tax-Managed Buy-Write Strategy Fund (NYSE: EXD) into Eaton Vance Tax-Managed Buy-Write Opportunities Fund (NYSE: ETV) was completed at the close of the New York Stock Exchange on April 14, 2023.
  • The exchange ratio at which common shares of EXD were converted to common shares of ETV is listed below:
    Eaton Vance Tax-Managed Buy-Write Strategy Fund (NYSE: EXD)
    EXD is a closed-end management investment company sponsored and managed by Eaton Vance Management.
  • No Fund is a complete investment program and you may lose money investing in a Fund.
  • No Fund is a complete investment program and you may lose money investing in a Fund.

PG&E Fire Victim Trust Announces Sale of the Next Group 60 million Shares of PG&E Stock

Retrieved on: 
Thursday, April 13, 2023
Finance, Utilities, Professional Services, Public Policy, Government, Energy, Forest Products, State, Local, Other Policy Issues, Natural Resources, Butte Fire, Bankruptcy, FVT, Trust, Fire, PG, Bangladesh Securities and Exchange Commission, Sale, Medicine, United States bankruptcy court, Trustee, PG&E, Death, Corporate action, Campfire, Camp Fire (2018)

The PG&E Fire Victim Trust (FVT) today announced the sale of 60 million shares of PG&E stock as it continues its work to compensate the victims of fires in Northern California from 2015 to 2018.

Key Points: 
  • The PG&E Fire Victim Trust (FVT) today announced the sale of 60 million shares of PG&E stock as it continues its work to compensate the victims of fires in Northern California from 2015 to 2018.
  • 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.
  • At that time, 476,995,175 shares of common stock were transferred to the Trust.
  • 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.

Sinclair Announces Holding Company Reorganization to Rename Company as Sinclair, Inc.

Retrieved on: 
Monday, April 3, 2023
Media, TV and Radio, Communications, Entertainment, Intellectual property, Marketing, WHEN, Tennis Channel, Sinclair Broadcast Group, Multimedia, Compulsive Lyres, Investment, Form, Growth, Corporate action, SBGI, Holding company, Financial services, Television

Sinclair Broadcast Group, Inc. (“Sinclair Broadcast”) (Nasdaq: SBGI) announced today that it intends to implement a reorganization in which a new holding company, Sinclair, Inc. (“New Sinclair”), would become the publicly-traded parent of Sinclair Broadcast and its subsidiaries (the “Reorganization”).

Key Points: 
  • Sinclair Broadcast Group, Inc. (“Sinclair Broadcast”) (Nasdaq: SBGI) announced today that it intends to implement a reorganization in which a new holding company, Sinclair, Inc. (“New Sinclair”), would become the publicly-traded parent of Sinclair Broadcast and its subsidiaries (the “Reorganization”).
  • These other businesses and assets include, among other things, Compulse, a marketing technology and managed services company, and Tennis Channel.
  • For more information about the Reorganization, please visit our Holding Company Reorganization Q&A located at https://sbgi.net/investor-relations/events-and-presentations/ .
  • In connection with the Reorganization, New Sinclair has filed a registration statement on Form S-4 that includes a preliminary proxy statement of Sinclair Broadcast and a preliminary prospectus of New Sinclair, and Sinclair Broadcast and New Sinclair may file with the SEC other relevant documents in connection with the proposed Reorganization.

ALJ REGIONAL HOLDINGS, INC. ANNOUNCES A SPECIAL STOCKHOLDER MEETING

Retrieved on: 
Tuesday, April 11, 2023
Agreement, Plan, Shearman & Sterling, OTC Markets Group, Regulation D, ALJ, Legislative Reorganization Act of 1970, Shearman, OTC, Special, NewCo, Corporate action, Holding company

NEW YORK, April 11, 2023 /PRNewswire/ -- ALJ Regional Holdings, Inc. (OTC PINK: ALJJ) (the "Company") announced that it will be holding a special meeting (the "Special Meeting") of stockholders on May 10, 2023 at the offices of Shearman & Sterling LLP, located at 1460 EL Camino Real, 2nd Floor, Menlo Park, CA 94025.

Key Points: 
  • NEW YORK, April 11, 2023 /PRNewswire/ -- ALJ Regional Holdings, Inc. (OTC PINK: ALJJ) (the "Company") announced that it will be holding a special meeting (the "Special Meeting") of stockholders on May 10, 2023 at the offices of Shearman & Sterling LLP, located at 1460 EL Camino Real, 2nd Floor, Menlo Park, CA 94025.
  • A proxy statement containing proposals for the Special Meeting will be mailed to the stockholders as of the record date of the Special Meeting, March 31, 2023, on or about April 13, 2023.
  • The Board unanimously recommends that the stockholders vote "FOR" the proposal to approve the Reorganization and "FOR" each of the other proposals to be voted upon at the Special Meeting.
  • The Company encourages all stockholders to read the proxy statement, mailed to all record holders as of the record date and available on the website of OTC Markets at https://www.otcmarkets.com as well as our website at www.aljregionalholdings.com .

Center Coast Brookfield MLP & Energy Infrastructure Fund Announces Planned Reorganization

Retrieved on: 
Thursday, March 30, 2023
PSG, Focus, RISKS, URL, Boaz Weinstein, Registration statement, Proxy, Trustee, Person, CEN, Sale, Register, Nature, Reading, Special, Form, ARE, Security (finance), Fund, NYSE, Corporate action, Bank

NEW YORK, March 30, 2023 (GLOBE NEWSWIRE) -- Center Coast Brookfield MLP & Energy Infrastructure Fund (NYSE: CEN) announced today that its Board of Trustees approved a proposal by Brookfield Public Securities Group LLC (“PSG”), the investment adviser of CEN, to reorganize CEN into Center Coast Brookfield Midstream Focus Fund (the “Focus Fund”) (the reorganization of CEN into the Focus Fund is the “Reorganization”).

Key Points: 
  • NEW YORK, March 30, 2023 (GLOBE NEWSWIRE) -- Center Coast Brookfield MLP & Energy Infrastructure Fund (NYSE: CEN) announced today that its Board of Trustees approved a proposal by Brookfield Public Securities Group LLC (“PSG”), the investment adviser of CEN, to reorganize CEN into Center Coast Brookfield Midstream Focus Fund (the “Focus Fund”) (the reorganization of CEN into the Focus Fund is the “Reorganization”).
  • The Focus Fund is an open-end fund that is a series of Brookfield Investment Funds, which is also managed by PSG using a similar investment strategy.
  • The proposal to reorganize CEN into the Focus Fund will require the approval of CEN shareholders.
  • Please see the About Center Coast Brookfield MLP & Energy Infrastructure Fund section below for the URL to CEN’s website.

Adelphia Communications Corporation Announces Distribution

Retrieved on: 
Thursday, March 30, 2023
Corporate action, ACC, John Hatch (development specialist), Plan, Effective date, American Benefit Plan Administrators, Date, Risk, United States Bankruptcy Court for the Southern District of New York, Sale, Adelphia Communications Corporation, Confirmation, United States bankruptcy court, Disclosure, Comcast, Trust company, Adelphia

GREENWOOD VILLAGE, Colo., March 30, 2023 /PRNewswire/ -- Adelphia Communications Corporation ("ACC") announced today a subsequent distribution of $3.0 million in cash payable on or about April 13, 2023 to holders of Allowed Claims against the parent Adelphia Communications Corporation pursuant to the First Modified Fifth Amended Joint Chapter 11 Plan of Reorganization of Adelphia Communications Corporation and Certain Affiliated Debtors, dated as of January 3, 2007, as Confirmed (the "Plan").

Key Points: 
  • GREENWOOD VILLAGE, Colo., March 30, 2023 /PRNewswire/ -- Adelphia Communications Corporation ("ACC") announced today a subsequent distribution of $3.0 million in cash payable on or about April 13, 2023 to holders of Allowed Claims against the parent Adelphia Communications Corporation pursuant to the First Modified Fifth Amended Joint Chapter 11 Plan of Reorganization of Adelphia Communications Corporation and Certain Affiliated Debtors, dated as of January 3, 2007, as Confirmed (the "Plan").
  • ACC has established a Record Date for purposes of this distribution of April 6, 2023.
  • Adelphia Communications Corporation continues under the management of Development Specialists, Inc., the Plan Administrator, to liquidate its assets and administer its plan of reorganization.
  • Prior to the sale of substantially all of the consolidated assets of Adelphia to Time Warner NY Cable LLC and Comcast Corporation on July 31, 2006, Adelphia Communications Corporation was the fifth largest cable television company in the country.

Avaya Completes Last Major Milestone of Financial Restructuring; Secures Court Confirmation of Prepackaged Restructuring Plan on an Accelerated Basis

Retrieved on: 
Wednesday, March 22, 2023
Data Management, Communications, Technology, VoIP, Telecommunications, Software, Other Communications, Martha Plimpton, Centerview Partners, LLP, Bankruptcy, Kirkland & Ellis, FTI Consulting, PAETEC Holding Corp., AlixPartners, KCC, United States bankruptcy court, Ecosystem, Paul, Weiss, Rifkind, Wharton & Garrison, LP, Corporate action, Financial services, Security (finance), Financial adviser, Avaya

As it has throughout this process, Avaya is continuing to serve its customers and partners without interruption and provide them with outstanding communications solutions, service and support.

Key Points: 
  • As it has throughout this process, Avaya is continuing to serve its customers and partners without interruption and provide them with outstanding communications solutions, service and support.
  • Due to this overwhelming support, the Company has secured confirmation of its Plan of Reorganization on an accelerated basis.
  • is serving as financial advisor and AlixPartners, LLP is serving as restructuring advisor.
  • Debevoise & Plimpton LLP is serving as legal counsel to certain holders of Avaya’s secured exchangeable notes.