Convertible

NiSource Inc. Announces Postponement of the Final Remarketing of its Series C Mandatory Convertible Preferred Stock

Retrieved on: 
Wednesday, November 15, 2023
Energy, Utilities, Oil, Gas, NiSource, Wells Fargo, NYSE, Telephone, J. P. Morgan, Convertible, Goldman Sachs, Prospectus, BofA Securities, ATTN:, Scotiabank, Broadridge Financial Solutions, Security (finance)

NiSource Inc. (NYSE: NI) (“NiSource”) is announcing that it has postponed, at its option, the final remarketing of 862,500 shares of its Series C Mandatory Convertible Preferred Stock, par value $0.01 per share, with a liquidation preference of $1,000 per share (the “Mandatory Convertible Preferred Stock”), originally issued on April 19, 2021 as part of NiSource’s equity units.

Key Points: 
  • NiSource Inc. (NYSE: NI) (“NiSource”) is announcing that it has postponed, at its option, the final remarketing of 862,500 shares of its Series C Mandatory Convertible Preferred Stock, par value $0.01 per share, with a liquidation preference of $1,000 per share (the “Mandatory Convertible Preferred Stock”), originally issued on April 19, 2021 as part of NiSource’s equity units.
  • On November 14, 2023, NiSource announced the commencement of the final remarketing of the Mandatory Convertible Preferred Stock.
  • NiSource has postponed the final remarketing of the Mandatory Convertible Preferred Stock.
  • Should NiSource recommence the final remarketing, NiSource will issue another press release on or prior to the day on which it recommences the final remarketing.

Consistent With its Long-Term Financial Plan NiSource Inc. Announces Commencement of Final Remarketing of its Series C Mandatory Convertible Preferred Stock Relating to its 2021 Equity Units Offering

Retrieved on: 
Tuesday, November 14, 2023
Energy, Utilities, Oil, Gas, NiSource, Wells Fargo, NYSE, Telephone, J. P. Morgan, Convertible, Equity, Goldman Sachs, Prospectus, BofA Securities, ATTN:, Scotiabank, Broadridge Financial Solutions, Security (finance)

In accordance with NiSource’s long-term financial plan, NiSource Inc. (NYSE: NI) (“NiSource”) announced today the commencement of the final remarketing of 862,500 shares of its Series C Mandatory Convertible Preferred Stock, par value $0.01 per share, with a liquidation preference of $1,000 per share (the “Mandatory Convertible Preferred Stock”), originally issued on April 19, 2021 as part of NiSource’s equity units (“2021 Equity Units”).

Key Points: 
  • In accordance with NiSource’s long-term financial plan, NiSource Inc. (NYSE: NI) (“NiSource”) announced today the commencement of the final remarketing of 862,500 shares of its Series C Mandatory Convertible Preferred Stock, par value $0.01 per share, with a liquidation preference of $1,000 per share (the “Mandatory Convertible Preferred Stock”), originally issued on April 19, 2021 as part of NiSource’s equity units (“2021 Equity Units”).
  • Currently, the Mandatory Convertible Preferred Stock bears no dividends and is convertible only upon the occurrence of certain fundamental change events.
  • In connection with a successful final remarketing of the Mandatory Convertible Preferred Stock, dividends may become payable on the Mandatory Convertible Preferred Stock.
  • Any offers to remarket the Mandatory Convertible Preferred Stock will be made exclusively by means of a prospectus supplement and accompanying prospectus.

BEST Inc. Announces Unaudited Third Quarter 2023 Financial Results

Retrieved on: 
Wednesday, November 22, 2023
EBITDA, Research, Convertible, Investment, Share repurchase, Administration, ADS, Debt-to-GDP ratio, RMB, American depositary receipt, SBC, Video game, Pharmaceutical industry

Cost of Revenue for Freight was RMB1,410.6 million (US$193.3 million), or 96.8% of revenue in the third quarter of 2023.

Key Points: 
  • Cost of Revenue for Freight was RMB1,410.6 million (US$193.3 million), or 96.8% of revenue in the third quarter of 2023.
  • Cost of Revenue for Supply Chain Management was RMB423.3 million (US$58.0 million), or 90.9% of revenue in the third quarter of 2023.
  • Cost of Revenue for Global was RMB324.4 million (US$44.5 million), or 117.9% of revenue in the third quarter of 2023.
  • Excluding SBC expenses, non-GAAP net loss from continuing operations in the third quarter of 2023 was RMB180.9 million (US$24.8 million), compared to RMB363.0 million in the third quarter of 2022.

XAI Octagon Floating Rate & Alternative Income Term Trust Announces Private Placement of Convertible Preferred Shares

Retrieved on: 
Tuesday, November 7, 2023
Professional Services, Finance, Sale, NYSE, Convertible, XAI, Purchasing, Bangladesh Securities and Exchange Commission, Exercise, Trust, Common, Asset purchase agreement, Indian stock exchange, Conversion, Sales management, Security (finance)

The Trust expects to receive net proceeds (before expenses) from the sale of the Convertible Preferred Shares of approximately $27.9 million.

Key Points: 
  • The Trust expects to receive net proceeds (before expenses) from the sale of the Convertible Preferred Shares of approximately $27.9 million.
  • The Convertible Preferred Shares pay a quarterly dividend at a fixed annual rate of 6.95% of the liquidation preference, or $1.7375 per share, per year.
  • The Convertible Preferred Shares will not be listed on any exchange and may not be transferred without the consent of the Trust.
  • The Convertible Preferred Shares were offered directly to the purchasers without a placement agent, underwriter, broker or dealer.

Granite Point Mortgage Trust Inc. Reports Third Quarter 2023 Financial Results and Post Quarter-End Update

Retrieved on: 
Tuesday, November 7, 2023
Construction & Property, Professional Services, REIT, Finance, Sale, NYSE, Convertible, USPAP, GAAP, Note, Access, LTV, Dislocation, Internet, UPB, Baozou Big News Events, Tenant, Senior, News, Granite, Risk, JPMorgan Chase, CECL, Hand, GPMT, Bank, Reinsurance, Holding company, Security (finance), Distributional effects

Granite Point Mortgage Trust Inc. (NYSE: GPMT) ("GPMT," "Granite Point" or the "Company") today announced its financial results for the quarter ending September 30, 2023, and provided an update on its activities subsequent to quarter-end.

Key Points: 
  • Granite Point Mortgage Trust Inc. (NYSE: GPMT) ("GPMT," "Granite Point" or the "Company") today announced its financial results for the quarter ending September 30, 2023, and provided an update on its activities subsequent to quarter-end.
  • A presentation containing third quarter 2023 financial results can be viewed at www.gpmtreit.com .
  • Book value per common share was $13.28 as of September 30, 2023, inclusive of $(2.89) per common share total CECL reserve.
  • Granite Point Mortgage Trust Inc. will host a conference call on November 8, 2023, at 12:00 p.m.

Steel Connect Reports Fourth Quarter Fiscal 2023 Financial Results

Retrieved on: 
Wednesday, November 8, 2023
Supply Chain Management, Retail, Sale, SPLP, Supply chain, EBITDA, Corporation, Convertible, Steel Connect, Umpqua Holdings Corporation, Supply, Senior debt, Income tax, Capital expenditure, Electronics, Aerojet, Exchange, Capital, Video game, Cryptocurrency, Pharmaceutical industry, Airline, Life insurance

Fluctuations in foreign currency exchange rates had an insignificant impact on SG&A expenses for the fiscal year ended July 31, 2023, as compared to the prior fiscal year.

Key Points: 
  • Fluctuations in foreign currency exchange rates had an insignificant impact on SG&A expenses for the fiscal year ended July 31, 2023, as compared to the prior fiscal year.
  • The Exchange Transaction closed on May 1, 2023, and as such, there was no activity for the fourth quarter or fiscal year ended July 31, 2022.
  • Total interest expense for the fiscal year ended July 31, 2023 remained relatively flat compared to the fiscal year ended July 31, 2022.
  • Other gains, net for the fiscal year ended July 31, 2023 and the fiscal year ended July 31, 2022 were $11.3 million and $4.1 million, respectively.

Ceylon Graphite Announces Closing of $365,000 Convertible Debenture Financing and Extension of Convertible Debenture

Retrieved on: 
Friday, October 27, 2023
NOT, TSX Venture Exchange, Sale, Mining, Convertible, Multilateral, Debenture, Funding, FOR, Minority, MI, OTC, Warrant, News, CYL, CCY, OR, Offering, Indian stock exchange, FSE, Amendment, Security (finance)

VANCOUVER, British Columbia, Oct. 27, 2023 (GLOBE NEWSWIRE) --

Key Points: 
  • In addition, the Debentures are secured against all of the present and after acquired personal property of the Company.
  • The Company also announces that it expects to amend the terms of certain convertible debentures (the “2018 Convertible Debentures”) that were issued by the Company on May 23, 2018.
  • The Company intends to amend the conversion price of the 2018 Convertible Debentures to $0.15 per 2018 Debenture Share and amend the maturity date of the 2018 Convertible Debentures to November 23, 2024 (the “Amendments”).
  • The Financing, Amendments and issuance of the Replacement Warrants are subject to the final approval of the TSX Venture Exchange.

RingCentral Announces Third Quarter 2023 Results

Retrieved on: 
Monday, November 6, 2023
Telecommunications, Software, Internet, Audio, Video, Artificial Intelligence, Technology, Apps, Applications, VoIP, Cash flow forecasting, ARR, UCAA, International use of the U.S. dollar, NYSE, Convertible, RingCentral, EBITDA, Sonalee Kulkarni, Conversation, GAAP, Note, Unified communications, Senior, Growth, EPS, Traction, CFO, RNG, Forecasting, Investment, Movement, Debt-to-GDP ratio, CCAA, Cash, Uncertainty, Video game, Food delivery, Bookkeeping, Life insurance, Security (finance), Music, Pharmaceutical industry, Insurance, Real estate, Clothing, Internet service provider, Meeting

RingCentral, Inc. (NYSE: RNG), a leading provider of AI-powered global enterprise cloud communications, video meetings, collaboration, and contact center solutions, today announced financial results for the third quarter ended September 30, 2023.

Key Points: 
  • RingCentral, Inc. (NYSE: RNG), a leading provider of AI-powered global enterprise cloud communications, video meetings, collaboration, and contact center solutions, today announced financial results for the third quarter ended September 30, 2023.
  • “Our solid third quarter results demonstrate our ability to drive long-term durable, profitable growth.”
    Revenue: Total revenue was $558 million for the third quarter of 2023, up from $509 million in the third quarter of 2022, representing 10% growth.
  • The Company also repurchased $75 million in shares during the third quarter of 2023 under the plans announced in February and May of 2023.
  • What: RingCentral financial results for the third quarter of 2023 and outlook for the fourth quarter and full year of 2023.

NanoString Technologies Releases Operating Results for Third Quarter of 2023

Retrieved on: 
Monday, November 6, 2023
Research, Technology, Genetics, Health Technology, Nanotechnology, Biotechnology, Health, Science, Oncology, Other Science, NanoString Technologies, Convertible, EBITDA, Publication, Marex (British company), GAAP, Note, Interest, Senior, Spatial, Depreciation, SMI, Total, Table, Investment, IPA, Debt-to-GDP ratio, Security (finance), Cryptocurrency, Agriculture, Q3

NanoString Technologies, Inc. (NASDAQ:NSTG), a leading provider of life science tools for discovery and translational research, today reported financial results for the third quarter ended September 30, 2023.

Key Points: 
  • NanoString Technologies, Inc. (NASDAQ:NSTG), a leading provider of life science tools for discovery and translational research, today reported financial results for the third quarter ended September 30, 2023.
  • “The last few months have been extraordinarily productive for our team.
  • During the third quarter, we delivered record revenue while reducing our cash burn by nearly 50% sequentially,” said Brad Gray, President and CEO of NanoString.
  • These adjusted financial measures are calculated excluding certain items that may make it more challenging to compare our GAAP operating results across periods.

Cazoo Launches Exchange Offer Relating to Existing Convertible Notes

Retrieved on: 
Friday, November 3, 2023
General Automotive, Retail, Online Retail, Automotive, Reverse stock split, Expiration, Vii, Convertible, Regulation, CUSIP, Initial exchange offering, Person, Exit consent, Exchange offer, Note, Public offering, Republic Bank & Trust Company, Appendix, Date, Retirement, DTC, Exchange, Failure, Communication, SEC Rule 144A, National Association, Cryptocurrency, Security (finance), News & Notes

The obligation of the Company to complete the Exchange Offer is subject to certain conditions, including the receipt of Convertible Notes validly tendered (and not validly withdrawn) prior to the Expiration Deadline representing not less than 100% of the aggregate principal amount of Convertible Notes outstanding (the “Minimum Exchange Condition”).

Key Points: 
  • The obligation of the Company to complete the Exchange Offer is subject to certain conditions, including the receipt of Convertible Notes validly tendered (and not validly withdrawn) prior to the Expiration Deadline representing not less than 100% of the aggregate principal amount of Convertible Notes outstanding (the “Minimum Exchange Condition”).
  • If the Exchange Offer is not completed due to failure to satisfy the Minimum Exchange Condition, the Company will implement the Exchange Offer through an English restructuring plan or scheme of arrangement rather than through this Exchange Offer (a “Scheme Transaction”).
  • As a result, if holders of the Convertible Notes do not tender their Convertible Notes in the Exchange Offer or if the Exchange Offer is not completed due to the failure to satisfy the Minimum Exchange Condition, holders of Convertible Notes, subject to the sanction of the English court, will likely still be exchanged into the Offered Securities pursuant to a Scheme Transaction.
  • Requests for the Offering Memorandum and other documents relating to the Exchange Offer may be directed to U.S. Bank Trust Company, National Association, the exchange agent and information agent for the Exchange Offer, toll free at (800) 934-6802.